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Top 3 Reasons Why Open Houses Are Not Successful in Colorado Springs
We all see the TV shows where the home for sale gets multiple offers because of the Open House that was held. Dozens of people (both with and without their agents) pile into the home exploring each room and inevitably one falls in love with the home and writes an offer.
(Oh! Before I continue, let me grab the chocolate chip cookies (that I will wind up eating all of) out of the oven.) Open Houses are a way to expose a Home For Sale to the Public. A real estate agent (or homeowner) "opens" the house so that interested people can stop by and check it out. It is designed to make SEEING the home very convenient. I have often wondered how come some people across the nation (and on TV) are wildly successful with Open Houses, and here in Colorado Springs, Open Houses are generally a flop. I have decided that there are 3 Main Reasons why Open Houses do NOT work in Colorado Springs: One reason involves Buyers, one reason involves Agents and the 3rd reason involves, well, youll just have to read it.
Now, there ARE exceptions to this even in Colorado Springs. If a home is in a HIGH foot traffic area, then an Open House may have more visitors. Or, some neighborhoods get together and have a Community Open House (where all homes for sale are "open"). This makes it is more of an EVENT than a single Open House, and the neighborhood becomes a selling point, as well.
So, if you ask us to hold an Open House when we list your home in Colorado Springs, chances are that you will hear this same explanation from us. However, if you really still want one, we will hold one for you. I can always use more time to organize my files or write something like this. But I GOT to stop eating these cookies! Read Also:
Posted By: Mariana Wagner - Colorado Springs Real Estate Expert - Wagner iTeam Mmmm ... Cookies. Related PostsHow to Read a Colorado Springs Real Estate MLS Sheet - Part 3: Exterior AmenitiesColorado Springs Market Report - September 2007 Colorado Springs Real Estate: Assessed Value vs. Market Value Dispelling 3 Housing Market Media Myths - Myth #3: I Cannot Sell My Home in This Market Selling Your Colorado Springs Home: How to Compete Against Desperate Sellers http://www.coloradospringsrealestateconnection.com/000E4D 
Posted on September 16, 2007 17:08:41 by Mariana.Wagner
Comment from: Ines [Visitor]  · http://www.Miamism.comWhat interesting facts Mariana, our markets are definitely very different. But to give you an idea, last week I had an open house and had over 14 visitors (great turnout) - this week I opened the same house and 0! Talk about strange......of course I ended up eating the brownies I made....not good. BTW - I love the new blog - the colors, the logo the buttons.....it ROCKS! May you have great success!  Permalink September 16, 2007 23:56:47Comment from: Mariana.Wagner [Member] · http://www.coloradospringsrealestateconnection.com Ines, you are completely right! Some parts of the country offer a market where Open Houses are not only beneficial to the agent but a great asset to the Seller. And congratulations (and many thanks) on leaving the VERY FIRST comment on my new blogsite! Permalink September 17, 2007 09:23:12Comment from: Columbus Real Estate [Visitor] · http://ColumbusHomesBlog.comEach of your points ring true in Central Ohio Also. You could have 30 people through an open house and if 20 of them were curious neighbors, four of them were just folks who like to drive around and look at open houses, 3 of them were 'just looking' because the home is out of their price range and 3 others saw the house online, knew it wouldn't work for them but just wanted to make sure, then the only success that afternoon is emptying the plate of goodies you've made for would-be visitors. Of course, it could be argued that the neighbors will tell their home-hunting friends to come over and take a look because it'll be perfect for them but I believe NAR says only about 2% of Homes Sell due to Open Houses. Can you imagine having to be at every single showing of every one of your listings if you were the listing agent, what a scheduling nightmare that'd be. Permalink September 19, 2007 09:13:08Comment from: Mariana.Wagner [Member] · http://www.coloradospringsrealestateconnection.comHi there. In 2005 NAR found that in addition to the low % related to Open Houses, the % of people that found their home because of a friend/relative/neighbor was about 5% ... Also, if I had to work in areas where the agent had to be present, I would hire a "showing agent" whose sole job was to be at the showings. Kind of like a Listing Agent's licensed assistant ... Permalink September 19, 2007 10:20:23Comment from: Eric Ransom [Visitor] · http://www.realestatelaundry.comAmen! Too bad not many agents are willing to be honest with Sellers about the effectiveness of Open Houses. I think it would be easier on everyone if people knew it was not the way to successfully find or sell a home. As I once heard at a seminar, "Holding an Open House is like walking across the street. You might get hit by a car and you might not. If you do, it might be a Yugo and it might be a Cadillac". I think most quality Real Estate Professionals can come up with a more consistent way to find Buyers and work for Sellers. Permalink September 19, 2007 14:25:31Comment on this article This post has no comments awaiting moderation. |
Here I sit at an Open House for 3 hours, listening to 
Let me explain a little background to Open Houses and then I will explain why they do NOT work in Colorado Springs (or any other place LIKE Colorado Springs).
Buyer Agency is HUGE in Colorado Springs. Most home buyers are represented by a Buyers Agent and therefore, are not wandering around looking at random houses. If there is a home that may fit their needs, chances are their Buyers Agent has already shown it to them. This eliminates the need for a Buyer to "pop by" an Open House, as they probably have already seen it or already know that it will not fit their needs.
In this scenario, an Open House would be a great opportunity for a home Buyer and their agent to see a house, as there is no need to align the Listing Agent and Sellers schedule it is already set. Visiting Open Houses become an efficient way to check out homes for sale.
People have already SEEN the house. What? Well, what are YOU doing right now? You are online, arent you? (If you arent I am perplexed...) Over 80% of all homebuyers start their home search online (
But, for the most part, for as much as an Open House is successful in other parts of the country and on TV, that same success is very RARE in Colorado Springs.
