Fishing

Yesterday I held a home open. The property belongs to Mrs. Hufflepuff's brokerage, but she often allows me to sit them. It is a nice courtesy and I am grateful. Sometimes Jane hangs out (as she is a member of Mrs. Hufflepuff's brokerage, this makes the most sense). Sometimes she doesn't.

Because of security concerns, and let's face it, there are many, I don't like sitting vacant homes by myself. So, if Jane isn't available I look for another agent or loan officer who might have nothing better to do on a Saturday afternoon. As a last resort, I bribe Buckaroo--who has grown up in the business--with copious favors if he will bring his tablet and find a corner to park in for a couple of hours.

For the most part, open houses are pretty old school. They are 1970's marketing--just like putting ads in magazines and newspapers. Buyers and nosy neighbors are offered the privilege of walking through someone else's home. Sellers like this because they feel like it gives their home exposure. And yes it does. Sometimes the wrong type.

Agents seem to have two schools of thought about open houses. First it makes sellers, who read too many Zillow stories about what agents are supposed to be doing, happy. "My agent is doing her job!" Second, it allows agents to fish for customers. Here's an industry secret: the goal isn't to sell the home they are sitting open. The goal is to find a neighbor who is thinking about selling. Or, conversely, it is to find that wayward soul who wants to buy but doesn't know the first step. There is some statistic bandied about somewhere that says generally a buyer goes with the first agent they find.

In general, agents like to hold open houses in vacant homes. That way the seller isn't going to walk in and demand a count of how many people came through. Or worse, the seller isn't going to walk in and start selling their own home to some prospective buyer and say something that may get himself into legal trouble. Also, it allows agents who don't work for certain brokerages (like me not working for Mrs. Hufflepuff's agency) to sit at a house. After all, if the seller has employed ABC Realty why is the agent from XYZ Agency sitting at their house? And even if one were to explain to the seller that the goal is to sell the house and why does it matter who sits it open? Selllers don't really understand. Besides all that, a vacant home isn't likely to have jewelry sitting on a night stand somewhere that a prospective buyer could just help themselves to.

I have sat homes where, afterwards, I have found a window unlocked. Someone who might have been tired of the Arizona heat decided they could spend the night right after we locked up. Those same folks came back a few days later and broke down the back door and got caught. I have sat homes where I have waited outside for "buyers" to go through because I wasn't getting a friendly vibe from them and I didn't want to be trapped in a home with trouble (which is why I now bring along someone else). In fact, this past open house, the neighbor across the street kept walking to the edge of his property and staring in at us. When Marty came by (he checks on me) he suggested it was time to leave. The guy was giving Marty the creeps too.

Open houses are often successful for agents. Most of the time, if I have notice, I send Buckaroo and a few friends around the day before to put flyers on the neighbor's homes inviting them by. That helps build traffic. I have sold one home to clients I took through an open house (and they have now bought and sold seven properties from me). I have gotten buyers who stepped in for a moment to an open house and let me help them later on. I have had neighbors stop by, who call me out of the blue six months later and say, "I want to sell my home." So, there is some benefit. But mostly an open house consists of sitting around waiting for the crazy neighbor to go back in his house while Jane and I surf the Internet.