{"id":1824,"date":"2007-08-19T11:32:13","date_gmt":"2007-08-19T18:32:13","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1824"},"modified":"2007-08-19T12:02:16","modified_gmt":"2007-08-19T19:02:16","slug":"is-is-stupid-to-hold-an-open-house-or-is-it-great-marketing","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1824\/is-is-stupid-to-hold-an-open-house-or-is-it-great-marketing\/","title":{"rendered":"Is it Stupid to Hold An Open House – Or is it Great Marketing?"},"content":{"rendered":"

Kris Berg<\/a> had a wonderfully written post<\/a> regarding open houses. This was my comment:<\/p>\n

There are just two valid reasons for an agent to hold an open house and neither of them has much to do with selling the house being held open.<\/em><\/p>\n

Reason 1: find stray (motivated) buyers (those that do not have an agent) and become their agent.<\/em><\/p>\n

Reason 2: meet neighbors who will later want to sell their home.<\/em><\/p>\n

Doing something time consuming one doesn\u2019t want to do in order to \u201ckeep the seller happy\u201d makes no sense.<\/em><\/p>\n

One time many many years ago before I understood what I have written above I was holding an open house. I had lots of traffic and came to realize that virtually all of the people streaming through were not buyers but were neighbors, looking for decorating ideas and just liked seeing the inside of the other units in the complex. After seeing all of the rooms, as they were on their way out, they would realize they hadn\u2019t even asked me the price – and as they were leaving would ask how much it was selling for. As any real buyer would have wanted to know the price sooner than later – after about 10 people through – I knew my day (yes, it was a Sunday) was a total waste, unless I could find a way to entertain myself. I choose the price. Just to see what would happen, I started quoting prices (in $10,000 increments) lower and lower to see if anyone would even blink. This was a $150,000 condo and I got the quoted price down below 100k. Each of the visitors just thanked me for my time and left.<\/em><\/p><\/blockquote>\n

There were several comments commenting on my comment (The BloodhoundBlog Method?) and I wanted to respond to those – and possibly clarify why I wrote what I did.<\/p>\n

\"GolfingAnyone\"Am I aware that some agents are very<\/em> skilled at actually selling the house being held open? Yes. In fact, Greg and Kris both commented that they have sold houses numerous times by holding them open. My good friend Dean Selvey<\/a> (currently the number 1 Re\/Max Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kris Berg had a wonderfully written post regarding open houses. This was my comment: There are just two valid reasons for an agent to hold an open house and neither of them has much to do with selling the house being held open. Reason 1: find stray (motivated) buyers (those that do not have an […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[5],"tags":[],"class_list":{"0":"post-1824","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":435,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/435\/blogoff-post-58-dont-tell-buyers-agent-your-reason-for-selling\/","url_meta":{"origin":1824,"position":0},"title":"Blogoff Post #58: Don’t tell buyer’s agent your reason for selling . . .","author":"Greg Swann","date":"September 26, 2006","format":false,"excerpt":"This is another favorite from my Arizona Republic column:\"My goodness! This house is gorgeous. I don't know how you can bear to leave it.\" That's me talking to a seller - while I'm in the home representing buyers. It sounds like an innocuous remark, effusive small-talk, but what I'm doing\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14628,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14628\/if-there-really-were-a-real-estate-agents-union\/","url_meta":{"origin":1824,"position":1},"title":"If There Really Were A Real Estate Agents’ Union…","author":"Brian Brady","date":"May 20, 2011","format":false,"excerpt":"...this is how business might be done: You (a willing home seller) would look for a real estate agent and discover that the government mandates that you hire, its delegated agent, to market and negotiate on your behalf.\u00a0 That chosen agent will be the only one who can deal with\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2181,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2181\/a-consumers-guide-to-the-divorced-real-estate-commission-will-the-negotiating-their-buyers-agents-compensation-make-buyers-more-practical\/","url_meta":{"origin":1824,"position":2},"title":"A consumer’s guide to the divorced real estate commission: Will the necessity of negotiating their buyer’s agent’s compensation make buyers more practical?","author":"Greg Swann","date":"November 8, 2007","format":false,"excerpt":"Part II: How buyers can finally take a seat at the grown-up's table When a potential home-seller calls me to set up a listing appointment, very often the first question I will hear is, \"How much do you charge?\" A motivated seller is done with the house, and now all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13078,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13078\/want-more-showings-and-quicker-offers-the-secret-source-of-buyers\/","url_meta":{"origin":1824,"position":3},"title":"Want More Showings and Quicker Offers? The “Secret” Source of Buyers.","author":"Sean Purcell","date":"August 25, 2010","format":false,"excerpt":"In a recent comment on his own post: Are you closing on the wrong objectives? The most insidious form of sales call reluctance is proudly racking up empty \u201caccomplishments.\u201d\u00a0 Greg Swann, the author, said this:\u00a0 \"we devote a lot of effort ... to closing on the buyer and on the\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":857,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/857\/communication-a-good-reason-to-use-realtor\/","url_meta":{"origin":1824,"position":4},"title":"Communication a good reason to use Realtor","author":"Greg Swann","date":"January 5, 2007","format":false,"excerpt":"This is me from today's Arizona Republic (permanent link): \u00a0Communication a good reason to use Realtor Why do you need professional representation when you buy or sell a home? It's not because of the Multiple Listing Service. As we have seen, Realtors can put a transaction together in ways you\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":487,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/487\/butterflies-might-be-free-but-home-buyers-pay-for-real-estate-advice-whether-they-know-it-or-not\/","url_meta":{"origin":1824,"position":5},"title":"Butterflies might be free, but home-buyers pay for real estate advice — whether they know it or not . . .","author":"Greg Swann","date":"September 29, 2006","format":false,"excerpt":"Ardell raises some questions at Rain City Guide about my column in this morning's paper on negotiating the buyer's agent's commission. I'm going to address some of her remarks here, but my fullest statement on the topic is quite a bit more comprehensive. In the newspaper, I get 350 words\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1824"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1824\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}