{"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_post_was_ever_published":false,"_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":""},"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":14628,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14628\/if-there-really-were-a-real-estate-agents-union\/","url_meta":{"origin":1824,"position":0},"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":509,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/509\/ask-the-broker-is-a-buyers-agent-like-a-bad-penny\/","url_meta":{"origin":1824,"position":1},"title":"Ask the Broker: Is a Buyer’s Agent like a bad penny . . . ?","author":"Greg Swann","date":"October 4, 2006","format":false,"excerpt":"When is a Buyer Broker Agreement abrogated, anyway?Is there a law stating that once your contract with your realtor is up that you must include them on the deal of the purchase of a home that they showed you?No such law. Feeling relieved? You can stop that right now. For,\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1681,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1681\/top-buyer-agents-unite-to-put-themselves-out-of-business-russell-shaw-tries-to-save-them\/","url_meta":{"origin":1824,"position":2},"title":"Top Buyer Agents Unite To Put Themselves Out of Business – Russell Shaw Tries to Save Them","author":"Russell Shaw","date":"July 22, 2007","format":false,"excerpt":"The missing word in the title above is, \"completely\". Top Buyer Agents Unite to Put Themselves Completely Out of Business. Also, based on my schedule and the (so far, at least) almost total unwillingness of Top Buyer Agents to even listen to this vital message, there may not be much\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"boardwalk-coastal-wetland_AJM5A2","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/07\/boardwalk-coastal-wetland_AJM5A2.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"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":3},"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":296,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/296\/securing-the-home-buyers-place-at-the-table-how-two-simple-reforms-can-finally-result-in-a-full-uncompromised-form-of-buyer-representation\/","url_meta":{"origin":1824,"position":4},"title":"Securing the home-buyer’s place at the table: How two simple reforms can finally result in a full, uncompromised form of buyer representation . . .","author":"Greg Swann","date":"September 6, 2006","format":false,"excerpt":"Executive summary: This is long, and it's written (I hope!) for ordinary people, not real estate professionals. But I want for real estate professionals to be aware of this argument, because I think it solves several of the knottier problems affecting our industry. Here's a quick summary of the essay:Buyers\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16548,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16548\/real-estate-auctions-not-just-for-foreclosures-anymore\/","url_meta":{"origin":1824,"position":5},"title":"Real Estate Auctions: Not Just For Foreclosures Anymore","author":"Brian Brady","date":"October 2, 2017","format":false,"excerpt":"Two years ago, I started paying MLS, NAR, CA, and SDAR dues.\u00a0 Since my wife Debra was taking on more of the lending responsibilities, I spent the bulk of my time working with the real estate agents.\u00a0 Having MLS access allowed me to hold broker opens for my agents, hold\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"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}]}}