Opinions
To me the answer to that question is that you should do open houses in any market. However, I wanted to get opinions from two experts whom I have observed closely for years, Martha and John Karelius. Martha enjoyed a four decades long career in South OC and John excelled in Ventura county and the Palm Desert area during that same time. They have been all-star supporters of Duane Gomer Education for years, while they established records in their respective areas.
When I asked them whether an agent today should do open houses, they replied together, “Religiously and absolutely, people come to you and there are no large costs involved.”
They said that someone coming into the home and buying immediately rarely happens, but you have a chance to meet people who become buyers for other properties. Also, many times open houses will lead to listings on other houses. John mentioned, “The Open Houses are as much to attract other sellers as they are buyers.”
Execution
Also, open houses need to be treated professionally. Have brochures and information available for everyone. Refreshments should be furnished based on the character of the home involved.
Neighbors could be invited and other prospects sent information. Other Realtors who work the area should be alerted. When you have a listing, other Realtors in your area could have clients who will be interested in your property so in essence they are working for you .
For people starting out, open houses will introduce you to live people. You would be at home doing nothing, so do nothing at an advertised open house.
My Opinion
Duane Gomer says that there is no law against using open houses on weekdays, doing more than one in a day, and holding other agent’s listings open, of course with their permission. For new agents watch the pros, they know what they are doing and despite being an expert in social media and other advertising methods, you can learn something from the old pros in many situations. Martha and John have had licenses for awhile, but they are still cutting edge in the “business”.
More on Martha
Martha has also written some books that are available on Amazon and other places. “A Better Version of You” is a life changing guide to record and professional fulfillment”. Plus, “You, Improved”, a daily dose of inspiration. She and Bobbi Mezger, another top producing agent from Coto de Caza, wrote the book, “The Real Deal: two real estate pros share lessons on business and life”. This includes many stories about their successes in the Real Estate Game. And I can verify that they have had successes. Their signs have been all over our area.
Today, they are working with many licensees remotely and again with great success. The name of their company is @Vantage Real Estate. For all of their friends, let me tell you that they are enjoying La Quinta; fishing, quilting, and all points in between. Well done. Martha and John, I still remember you visiting us in our Avery office years ago that was above the Shooter’s Bar. DJ and I thank you for the help you provided a new little company in Mission Viejo.
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