| by Kenneth Chase | 20 comments

Open Houses – When They Work & When They Don’t


Open houses, do they work to help sell a home
or not? The answer might surprise you. By the
end of this video you’ll know how to determine whether or not to have your agent host an
open house for you. And stay tuned to the end for your gift. A buyers or sellers guide – your choice. Hi, it’s Mary Anglin from United Real Estate
Los Angeles. Hit the subscribe button and the notification
bell to keep up to date with all things real estate. And don’t forget to hit that little thumbs
up button on this video as well. So do open houses work to sell a home? The reality is that this is not a simple yes
or no question. The answer is that it depends. Before we go forward, tell me in the comments
below, what do you think, Yay or nay? So what does it depend on? The market. Are we in a buyer’s market or a sellers market? Let me differentiate the two. Simply put a balanced market is when there
is six months worth of inventory on the market. When there is more than six months worth of
inventory, we are in a buyer’s market, and when there
is less than six months worth of inventory, we’re in a sellers market. This is also called the absorption rate and
there is a method for calculating it, but you don’t need to worry about that because
a good agent will know this information and hopefully you’ve got a good agent. So back to open houses. When we’re in a balanced market, open houses
can be effective, but it really depends a lot on how well your agent market’s the home
itself and how well they market the open house. A sellers market means there’s not enough
inventory. There are many more buyers who are looking
for homes than there are homes available. When we’re in a sellers market, especially
a strong sellers market, open houses can work very well. I’ve hosted open houses in this market and
brought in dozens and dozens and dozens of buyers. I’ve also sold quite a few homes to people
who visited during the open house. However, keep in mind that your agent must
have used professional photography in listing your home, and this is because what a buyer
sees online, will either attract them or repel them from actually visiting your home
in person. What about a buyer’s market? This means that there are a lot of homes on
the market, more than there are buyers who are looking for homes. Open houses generally do not work well in
a buyers market. No matter how well a home might’ve been marketed,
you could still have zero visitors at the open house. In this scenario, it’s worth a discussion
with your agent to determine whether or not you want to go ahead and host an open house. This is my experience in the Southern California
market. It should hold true across the country, but
check with your local real estate expert about open house track record in your area. And
now click on the link in the description box to access your gift. Either the home sellers guide or the home
buyers guide – your choice. If you’re in the San Gabriel Valley or the
Inland Empire and are in need of a Realtor, I’m right here in West Covina. Just give me a call. I look forward to connecting with you. And
if you’re not in my area, but need a realtor, no problem. I’m more than happy to introduce you to an
excellent realtor where you live. Please remember to hit the like button on
this video and subscribe to my channel if you haven’t already, so that you don’t miss
any great upcoming videos. And I’ll see you on the next video.

20 Comments

Mary Anglin

Aug 8, 2019, 6:10 am Reply

Thanks for watching "Open Houses – When They Work & When They Don't". Before watching this, had you realized that the state of the market affects even the open house concept as a marketing tool?

Eli Magids

Aug 8, 2019, 1:42 pm Reply

great rundown on open homes and absorption rates !

Stephanie Brannan

Aug 8, 2019, 1:45 pm Reply

Great information about open houses! Professional photography is very important these days.

Modansky Homes Team

Aug 8, 2019, 1:58 pm Reply

Great info as always!

Sam Sansalone

Aug 8, 2019, 2:04 pm Reply

Pro photography is a MUST!!!

Sunni O’Maley, Realtor

Aug 8, 2019, 2:17 pm Reply

Great info on open houses!

Rebekah Kleinman

Aug 8, 2019, 2:47 pm Reply

Excellent video, Mary. Good solid advice. The additional tips about buyers' and sellers' markets help clients understand the environment they are working in. Thanks for sharing.

Amy Hayslett Realtor

Aug 8, 2019, 5:37 pm Reply

Aside from buyers vs sellers markets, when do you think the best time to do an Open House? I like doing them the first day or weekend that it goes on the market.

Catherine Perry

Aug 8, 2019, 7:07 pm Reply

Great video thank you for sharing!!

Aurélie de The Good Speech

Aug 8, 2019, 8:31 pm Reply

Excellent information ! Having professional photos can certainly make a big difference !

Eric and Deva Edelman – Realtors

Aug 8, 2019, 9:08 pm Reply

Great advice, as always!

Alyson Wahl

Aug 8, 2019, 9:09 pm Reply

Interesting perspective, thanks for sharing!

Barbara Stephenson Realtor

Aug 8, 2019, 9:24 pm Reply

Good photo's make all the difference

Ugo Arinzeh

Aug 8, 2019, 9:59 pm Reply

Promotion is so important.

Matt Rooney Real Estate Ontario

Aug 8, 2019, 10:04 pm Reply

This is perfect and a topic a ton of my clients are interested in, great video!

MillyOnLashes | Tampa Eyelash Extensions

Aug 8, 2019, 11:05 pm Reply

Thanks for sharing, didn't know this

Angela O’Hare – Las Vegas Realtor

Aug 8, 2019, 1:15 am Reply

I think it's how you advertise that open house, makes a world of difference.

Cindy-lou Schmidt, Broker, REALTOR® – RE/MAX – Serving Waterloo Region and surrounding area

Aug 8, 2019, 3:06 am Reply

Great video! You hear so much for and against open houses. The answer? It depends!

Shawn Bell

Aug 8, 2019, 2:39 pm Reply

Great information Mary! Clients quite often ask about Open Houses and this would be good information for them

Jose Sepulveda

Aug 8, 2019, 3:17 pm Reply

Good info on the effectiveness of open houses

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