South Jersey Real Estate

4 open houses over 4 weeks, I know it’s not a scientific study, but I already know the answer to the question of “Do open houses work?” 

Back in the day when I was a newbie, I did about 40 open houses a year and it was a good prospecting tool and to help build my database of potential buyers and even some sellers. Selling the house was almost secondary but they DID sell the home roughly once out 50 to 100 open houses…. yes that’s a paultry 1% to 2% success rate.

So this month, my four open houses panned out like this:

1. 5 neighbors, 1 prospect with a house to sell. In fairness, I DID invite the neighbors by putting flyers on their mailbox

2. No one came. Since this house is one of my flips, I installed 3 smoke detectors, hung the fire extinguisher, measured the windows for blinds and picked some weeds…. lots of fun.

3. 4 vistors, 3 can’t get a mortgage and 1 might qualify for $50k less than the asking price. Met some nice people, but not too productive.

4. 1 visitor who has a house to sell and they openly offered the fact that their house is overpriced and probably won’t sell….. nice. And one couple who was actually qualified and serious, but already had an offer on another home…. coincidentally that was my listing too 🙂

So, roughly 16 hours of time and energy, no solid leads for me or my sellers. But I did get to write this blog article 🙂

Thanks for Reading…..

Joe