Last weekend I ran a list of weekend open houses here in the Phoenix real estate market, once via a table and the second time in a pdf. While I didn’t receive feedback on which format was better, my manager was kind enough to ask me why I would run the list at all when I’d rather spend a weekend working on my grass than sitting inside a vacant home.
“All you’re doing is advertising how many agents will sit open houses when you won’t,” he said … or words to that effect.
In truth, I’m not running that list as advertising for the sellers. It’s a list for buyers who may be interested in purchasing a home and who are wise enough to understand the agent sitting inside the home is representing the seller, not the buyer.
Maybe they prefer it that way with the mistaken notion that there’s an automatic discount if you work with the listing agent because there’s an automatically lower commission - this simply isn’t the case, since commissions are determined between seller and listing agent.
But the majority of folks I’ve found would prefer to have someone representing their best interest. I’d happily be that person if they don’t have their own agent. For that, I’d let the grass fend for itself against the hordes of pigeons in attack mode.
If I were a seller, I’d question the strategy of the open house. There are about 500 or so single-family homes selling in the Phoenix real estate market each week. Look at how many homes were on the list. How many do you think sold this weekend as a direct result of the open house?
It’s like walking into Caesar’s Palace and putting all your money on 7. There are far better odds available elsewhere in the casino and through other marketing methods.
Will I post the list again? Most likely. I like the table better but it’s fairly time intensive since the local MLS doesn’t provide the ability to download. If nothing else, it will be rather interesting to see which properties are back on the list again … and again … and again … and again because the agent lacks any other marketing ideas.
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Tags: Phoenix Market, General Real Estate, Tips for Sellers, Tips for Buyers by Jonathan Dalton
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