Memphis Real Estate Buzz » open house

Nationwide Open House

Joe Spake — Sun, 05 Jun 2011 00:25:41 +0000

Image by joespake via Flickr

In another attempt to drum up some activity in the residential real estate market, the National Association of Realtors has designated this Saturday and Sunday (June 4-5) as the Nationwide Open House Weekend. So, you should have a good selection of houses across the area to check out tomorrow.

If you decide to brave the Memphis heat, I will be holding 3739 N. Swan Ridge Cir. open from 2-4 on Sunday (6/5), so come on by and say hello. I will have bottled water and some paper towels for your comfort. Close to the Green Line, just off High Point if you are biking or on foot. I’d love to meet you!

It’s the weekend of the open house (seattletimes.nwsource.com)
Does anybody read this blog? (memphisrealestatebuzz.com)
2011 NATIONWIDE OPEN HOUSE WEEKEND JUNE 4TH & 5TH; KOENIG & STREY REAL LIVING SHOWCASES HOMES (via Britta Rivera Venture) (brittaj17.wordpress.com)

Joe Spake is a Memphis, Tennessee based Consultant, Real Estate Broker, and Blogger. Call 901.214.5563 for a consultation or click to make a social connection.
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Stuff real estate agents do – Open Houses

Joe Spake — Sun, 02 May 2010 15:05:52 +0000

Some real estate agents lead you to believe that Open Houses will sell your home. If they don’t bring it up in their listing presentation as part of their value proposition, you will most assuredly bring it up, and even demand open houses, because, well, “that’s what real estate agents do”.

The Open House is a great opportunity for your neighbors, who haven’t been welcomed into your home during the years you have lived there, to inspect your house and your your stuff and see what you are really all about. Or for those folks who just want to see what a house like yours looks like inside. Open house visitors, unless accompanied or directly sent by an agent, are un-screened, and often unqualified to buy.

Even real estate agents themselves admitted to the ineffectiveness of open houses in this reader poll in the REALTOR® Magazine, online version. When asked “What percentage of your closed sales do you attribute to open houses?” the response was:

Poll results as of 4/27/10

Yes, 84% of respondents say that open houses result in less than 10% of closed sales. Yet real estate agents spend their weekends hanging out at their listings, or if they don’t have listings, they beg to sit in the listings of those agents who do. WHY? Because there is a perception among real estate agents that the open house IS an effective way to pick up buyers – not necessarily buyers for the home you are holding open, but motivated buyers who are out shopping and don’t yet have an agent.

Of course, if a buyer shows up who wants your house, the goldmine for an agent is to use the open house to “double-side” a deal. Have you talked to your agent about his/her allegiances should they deliver a buyer? Are you comfortable with your agent representing both you AND the buyer in this complicated and often emotional transaction?

I fall into the the 84% of agents who don’t think open houses are effective. There are certainly better ways to market homes in our web 2.0 world, and there are plenty of good agents out there screening your home for their well-qualified clients through the MLS and other internet outlets.Â In most cases I am quite uncomfortable with dual-agency (no matter what it may be called in your jurisdiction).Â Â So that’s this agent’s opinion. What’s yours?

Top 10 Reasons Consumers Hate Real Estate Agents (agentgenius.com)

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It’s Official – this is Open House Weekend

Joe Spake — Sat, 10 Apr 2010 17:34:51 +0000

Come on out for theÂ official Open House Weekend, promoted by the National Association of REALTORSÂ® and the Memphis Association.Â Â Of course, this is a last ditch effort to wring out the last of the buyers who may be eligible for the $8000 first-time home buyer tax credit (up to $6500 credit for those who have owned a home before and qualify).Â Not a bad thing, but worthy of disclosing.Â To get the credit you must have a property under contract by April 30 and have it closed by June 30, 2010.Â Â Â NAR and the local association’s promotion of this event is some free PR for the 2 listings I will be holding open on Sunday;Â even though the association is giving me up to 5 free balloons for each listing, I still have to pay for the ad in the CA. Since there will be an inordinate number of Open HousesÂ this week end (1200+), you will probably get the chance to explore a neighbor’s home that you otherwise wouldn’t be welcomed into.

Or maybe you are seriously looking to buy a home, whether or not you are taking advantage of the tax credit.Â It’s a good chance to see a number of properties without having to engage the services of a pesky buyer’s agent.Â Open house tip for potential home buyers:Â That friendly agent who greets you at the open house, shoves a card in your hand, and tries so hard to get your contact information works for the home seller.

Whatever your motivation, I would love to meet you at one of my open houses on Sunday (April 11):

1990 Manila (2 BR / 1 BA) $99,999Â from 1-2:15

and

1887 York (2BR /2 BA + nice studio space) $159,900Â from 3-5

Come by and meet me and check them out.

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Open Houses Sunday 12/6

Joe Spake — Sun, 06 Dec 2009 05:03:18 +0000

Drop by and say hello as I hold 2 of my listings open Sunday 12/6

1990 Manila – a nice Cooper-Young cottage – 1-2:15
and
1887 York – an artist homes with character (and studio space) galore – 2:30-4
Click the links for more details

Come on over.