Open houses aren’t for selling: REP poll

by REP30 Mar 2015
A recent poll on the REP site has a majority of agents agreeing that open houses are not for selling, but their value goes far beyond closing the deal.
 
“I’ve never sold a house through an open house,” says Savanna Lemieux-Ellement, an agent in Winnipeg. “But they’re very important. You pick up buyers, but I don’t think you sell the house from an open house.”
 
Lemieux-Ellement isn’t alone in that sentiment. Some 73 per cent of REP readers said they’ve sold a property via open house less than five per cent of the time.
 
“You’re not going to get a buyer there, but it does display your skills as an agent – how you put the staging together,” says Danilo Martinez, an agent in Toronto. “You can increase your own leads and your own business.”
 
However, in some cooler markets, the opposite is the case. Another 15 per cent of REP readers said they’ve closed the deal via open house between six and 15 per cent of the time. A total of five per cent of readers said they’ve sold a property at least 31 per cent of the time.
 
“My luck has been that, in most cases, I end up being able to find a client and sell the house,” says Edmonton-based agent, Ron Blache-Fraser. “A lot of times a house will sell to somebody from the neighbourhood, whether [they are] referred by someone or not. It’s often someone who is close by, whether they want to upgrade or downgrade.”
 
 
Have your say: Is an open house a good place to find buyers? Or is its value in marketing for the agent?

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