Open houses don't work and other real estate secrets
The open house you want to schedule actually will help your real estate agent more than you.
That's one secret Reader's Digest says your agent won't mention. The iconic page-turner interviewed a handful of real estate types across the country to come up with a list for its April issue.
South Florida agents generally agree with the tips on open houses and commissions, though they insist that some of the other secrets and strategies in the piece aren't exactly inside information.
Local agents say open houses aren't effective anymore in the age of the Internet. Nearly nine of 10 buyers hunt for houses online, according to a 2011 study from the National Association of Realtors.
While an open house makes the seller feel good, it's unlikely the home will sell to someone who attended the event, agents say.
"It does give the seller some exposure, but the real motivation for a Realtor wanting to do them is to pick up clients," said Terry Story of Coldwell Banker in Boca Raton.
Open houses typically attract neighbors looking to see how your house compares to theirs. Those who meander through likely aren't qualified buyers, said Marisa DiLenge, an agent for Better Homes and Gardens Real Estate Florida 1st in Broward County.
What's more, there's a security issue, DiLenge said. Some burglars may pose as buyers to find out what valuables are in the home. And DiLenge said she's not comfortable with the prospect of being alone in a property with a stranger.
"In 20 years of doing this, I've sold only one house on an open house," she said. "For me, it's not worth it."
Boca Raton-based Lang Realty isn't dismissing the power of the open house. The firm is holding a one-day event at 300 properties from Boca to Port St. Lucie on March 25.
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Open houses don't work and other real estate secrets
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