Here are three things about Open Houses, whether in Santa Clarita Valley or elsewhere in the United States, which you probably did not know.
1 – Not for Sale
While it would be a breach of the ethical dynamic related to agents and homes for sale, not all open houses are currently on the market for sale.
They may not even been under contract to be sold. It may be the case where the prospective home seller is “testing” the real estate market.
You can find out easily using SantaClaritaOpenHouses.com and allowing my open house search engine utilize your location to see if the “open house” is on the market for sale.
2 – Not the Actual Agent
When you are viewing open houses, don’t assume the agent inside is the agent who is on the sign. In most cases, the agent hosting the open house is not the agent with the listing.
They could be a real estate agent from the “listing agents'” networking group, office or team.
Some open houses are hosted open by the homeowner and not the agent.
3 – Open Houses don’t sell homes
Open houses, statistically, don’t sell homes. Less than 1% of the homes are sold during an open house. That statement is a bit vague and ambiguous. To have a home sold during an open house, the buyer would have to write a contract on the home during the open house. The seller would have to approve and sign off on that contract “accepting” that offer from the buyer during the open house. And then escrow would have to be opened immediately and forthwith.
Most of the homes being held open don’t sell during the open house, specifically. The buyers who are visiting the open house are vetted as buyers typically are who are working directly with a real estate agent.
Anyone can view a home during an open house, whether they are in the market to buy or not. That is why most of the first visitors to an open house are the neighbors.
Open houses are great for the real estate agents as a form of marketing themselves. Leads from the neighbors are obtained for future sales. Buyers who are in the market to buy now are also able to be picked up by the agents’ who host open houses.
Closing Open House Tip for Buyers
Don’t sign anything when visiting an open house, unless you want to be contacted by the agent hosting the open house in the future.
If you are “forced” to sign some type of interest list or visitors log for the home seller, understand the information you provide may be used in ways you will not appreciate.
Let your agent, if you have one, know you are going to be visiting open houses. They may want to go with you or give a heads up to the agent hosting to keep away from you and not hassle you.
Closing Tip for Open House Sellers
Remember, your agent can only do so much to track those who are visiting your open house. Lock up all valuables and make sure your home is depersonalized. Put away all prescription medication under lock and key.
Be prepared for the first visits to be by your nosey neighbors.
Prior to the open house and after, be more alert to your surroundings. Watch the vehicles which park on your street or those who are in the area during unusual hours etc.
Talk with your neighbors and let them know to be more alert and to photo and write down any strange vehicles and people who aren’t regular in your neighborhood.
Let me know when you are ready for our real estate representation. We always want our home buyers and home sellers to be protected beyond reproach.
I’m Connor with REMAX of Valencia and I’m glad to be at your service.