They say that one of the things that helps to sell a home is a motivated seller. I guess that’s where I’m faltering. Early on, I had a couple who was interested in making an offer, but I indicated that I felt I priced my house appropriately and then they backed off. More recently, I did actually receive a verbal offer on my home via my realtor. But the offer was so low that I couldn’t bring myself to do much about it. So apparently, I’m not motivated enough.
My house in Westchester has been on the market a while now. I’m embarrassed to say it’s nearing the 90-day mark (gasp!). My realtor is gently nudging me along to do a price reduction. And admittedly, one is in order. But before I do the price drop, I just had to make sure that I checked every avenue of improving the chances of selling my home.
So naturally, any article about what does or doesn’t help to sell a home catches my eye. I wrote a post about the value (or lack of value) of holding an open house way back when and I think this LA Times article confirms it for me. I’m skipping the open house. That’s not to say that open houses don’t have their place – they’re just not the most effective tool in the current market, according to what I gather. Here’s a look into what the article says:
But according to the National Assn. of Realtors’ latest profile of buyers and sellers, only 7% of all buyers visited open houses as a first step in their safari for a new house. Most people start their hunt on the Internet.
That’s not to say that open houses don’t work. They do, but not necessarily for the house in question. Rather, they help turn up new clients for your agent in the form of possible sellers of other houses. They also produce potential buyers of other houses that also are listed for sale.
But as a true selling tool? According to the association, few buyers found the place they bought at an open house.
Of course, that’s not always the case. Over the last two years, Carrie Georgitsis of Re/Max Signature in Chicago has sold maybe eight houses to buyers who first saw the homes at open houses.
By the way, I’m sure most of you are aware that we have open house tags on the Redfin map. But just in case you weren’t, check it out to see where you can do a little browsing at upcoming open houses on the market. I’ve included a few in the LAX area for curious home shoppers.
6906 W. 84th Place./3bd, 1bth/$748,000/Open House: Sunday, May 25, 2:30pm – 5pm
13075 Pacific Promenade, #401/2bd, 2bth/$599,999/Open House: Sunday, May, 25 2pm – 4pm
6220 Pacific Ave., #101/3bd, 3bth/$1,050,000/Open House: Sunday, May 25, 12pm – 4pm