A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Forget the open house
When homeowners decide to put their home on the market, they
always expect the Realtor to do open houses and more than likely the Realtor
will comply with that request, but not for the homeowners benefit, but for the
Every Realtor knows that open houses are a great way to meet
the neighbors of the home they are selling and it is the best form of
advertising their business. What other way do you get potential clients to come
to you and have an opportunity to introduce yourself to them and talk Real
Estate. The open house is an advertising bonanza for Realtors, but a disappointment
for the Home owner.
The only time open houses help in selling a home is when there
is a very hot sellers market and people are in a frenzie to buy. Most people
have their own Realtors and they don’t rely on open houses to see properties,
they let their Realtors arrange the showings and that is the best way to see
home that suit a buyer. Going from open house to open house is a very
inefficient way to see homes if you are really looking to buy.
Let’s get back to the home owner trying to sell their home.
The only people you want in your home are people ready to buy and are looking
at properties that are like yours. You want people who have been pre screened
and pre approved to buy your property. Do you really want every nosey person who
is willing to take a Saturday or Sunday going around neighborhoods looking at
other people’s homes with no intention to buy. Why would you want these people
in your property?
A Realtor who wants to make the most of an open house is not
looking to sell your home, but is looking to pick up potential clients either
buyers or sellers and in the off chance that they do get lucky and find a buyer
for your home, then they hit the jack pot, but that is a real long shot and
they know it. The smart Realtor wants to put up as many open house signs as possible.
Years ago when I had a partner, we use to do open houses and neighborhood
garage sales at the same time. I read a study that people can’t differentiate
between garage sale signs and open house signs, so we would have 100 signs up
in a neighborhood and people thought we were the busiest Realtors around. I had
one lady tell me that we must be selling the entire neighborhood and we just
had one listing. Perception is reality and people perceived that we owned the
neighborhood and after a while we did.
If your Realtor wants to do an open house, ask them the odds
of them selling your home with an open house and if they are honest, they will
tell you that the odds are not very good. The National Association of Realtors found that in 2014 only 9% of buyers found their home by visiting an open house and that is down from 14%in 2004. The internet is taking the place of the open house for buyers.
In my business of Property Management
in Orange County California I tell my clients that they need to Remember that
they are marketing their home to other Realtors not to buyers, so if you really
want to increase your chance of selling your home, increase the commission you
are offering the buyers agents on the MLS. There is nothing that motivates
Realtors to show a home and give it priority more than a big commission.
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County