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#129026 - 03/17/07 07:14 AM 30 min Open House??? This Ok??
K20 Offline
Member

Registered: 02/24/07
Posts: 133
Loc: WA
Has anyone tried this? The 30 min to 1 hour open houses with the big yellow signs? I just heard of usin the yellow signs for these short open houses and wondering if it works? My in house lender offered to let me use his yellow signs and a 1-800 number that would have a recording/ring to my cell. Is it ok to use this stuff in return for his hopes I send people his way?

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#129031 - 03/17/07 08:06 AM Re: 30 min Open House??? This Ok?? [Re: K20]
RebelBroker Offline
California Real Estate Broker
Veteran Member

Registered: 06/15/03
Posts: 1225
Loc: Morgan Hill, CA, USA
I have never tried it, but a 30 minute open house does not make sense to me, and not just for the reasons that seem obvious.

First, doing it that way would assume everyone knows about your open house and that they plan on being there right when the door opens. If your counting on the signs to get your people there immediately - even if they do say 30 minute open house on them - I would say that is not correct. They just won't show at all.

Next would be your sellers. They are going to think your a moron if you spend time money and effort to do an open house, then only have it open for 30 minutes.

Now, I can see where someone might have used this kind of idea a couple of years ago. We were in a market when a new listing was like blood in the water - drawing every hungry buyer for miles around.

Not true today. For every home that sells there are at least 5 or 6 homes still on the market. Buyers have tons to choose from and don't feel a need to rush to jump onto a new listing.

R
_________________________
Robert "The Rebel Broker" Whitelaw - Broker,Realtor,ePro
Silicon Valley,CA

Roberts Website

NOT LEGAL ADVICE

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#129038 - 03/17/07 09:30 AM Re: 30 min Open House??? This Ok?? [Re: RebelBroker]
K20 Offline
Member

Registered: 02/24/07
Posts: 133
Loc: WA
Here's how it was explained to me. Put a yellow sign up infront of a vacant house but not next to the For Sale sign so it looks like the owner is holding it. Put it at an odd time from like 5:15 to 6:15 so it will be remembered. Put this ugly yellow sign up a week ahead of time to give people a chance to see and make time etc. If people do show then it creates the "fear of loss" and if that doesn't work then it is a way to get prospects while only doing 1 hour of work. I'm going to try it a couple times and see what happens. Not too much wasted time if no one shows but if people do then great. Have you heard of this before?

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#129040 - 03/17/07 10:00 AM Re: 30 min Open House??? This Ok?? [Re: K20]
RebelBroker Offline
California Real Estate Broker
Veteran Member

Registered: 06/15/03
Posts: 1225
Loc: Morgan Hill, CA, USA
Ah... ok.... that makes things a bit more clear.

Never tried it, but I would still guess that the current market makes it less successful.

As you say, give it a try and see what happens, it's the only way to know for sure.

Better than doing nothing.

Give it a shot and let us know what happens.

R
_________________________
Robert "The Rebel Broker" Whitelaw - Broker,Realtor,ePro
Silicon Valley,CA

Roberts Website

NOT LEGAL ADVICE

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#129075 - 03/17/07 05:06 PM Re: 30 min Open House??? This Ok?? [Re: K20]
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
Originally Posted By: K20
Put a yellow sign up infront of a vacant house but not next to the For Sale sign so it looks like the owner is holding it. I'm going to try it a couple times and see what happens. Not too much wasted time if no one shows but if people do then great. Have you heard of this before?


It appears you are on the ethical line if your intent is to promote a false impression, Also most states require all advertising and marketing material to have the brokerage information.

If this were done in my area, I'm sure several agents would be filing reports to the real estate commission and ethics board of the association and probably with sufficient grounds for an investigation.

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#129078 - 03/17/07 05:16 PM Re: 30 min Open House??? This Ok?? [Re: Realty Check]
smg Offline
Major Contributor

Registered: 02/16/06
Posts: 2823
Loc: United States
Interesting. I am still not seeing or understanding the advantages to this. But, I am interested in a follow up to see how it went.

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#129079 - 03/17/07 05:16 PM Re: 30 min Open House??? This Ok?? [Re: Realty Check]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7688
Loc: PA
Quote:
It appears you are on the ethical line if your intent is to promote a false impression, Also most states require all advertising and marketing material to have the brokerage information.


That's what my gut instinct was...is this ethical??? Some guy was accused of being unethical in another thread for washing his real estate signs in his yard and leaving them up to dry for a weekend. This seems much more...deliberately deceitful, IMHO.

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#129081 - 03/17/07 05:21 PM Re: 30 min Open House??? This Ok?? [Re: Perky_REALTOR]
Jennifer Allan Offline
Major Contributor

Registered: 11/12/06
Posts: 1624
Loc: The Beach
Perky - your real-estate-sign-washing story reminded me of something I did... I used to live in a distinctive house in a trendy neighborhood. Being a real estate agent, my signs were often out in full view of anyone driving by - leaning against the side of the house, against my car or whatever. I got TONS of calls off those signs... but can you believe, it never occured to me to prospect to them?? Sheesh.
_________________________
Jennifer Allan-Hagedorn, GRI
RE/MAX Hall of Fame
Author of Sell with Soul, Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect

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#129084 - 03/17/07 05:42 PM Re: 30 min Open House??? This Ok?? [Re: Jennifer Allan]
ReallyReal Offline
Member

Registered: 02/01/07
Posts: 221
K20 what are you trying to achieve with this method that you can't or aren't achieving with a traditional open house?






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#129090 - 03/17/07 05:52 PM Re: 30 min Open House??? This Ok?? [Re: Realty Check]
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
This may be on the ethical line but it does not cross it because your brokerage sign is also in the yard in addition to the yellow open house sign. The intent is to give the impression that this is just not another standard agent open house.

Will be interested in seeing what kind of response K20 gets.

[quote=Realty Check
It appears you are on the ethical line if your intent is to promote a false impression, Also most states require all advertising and marketing material to have the brokerage information.

If this were done in my area, I'm sure several agents would be filing reports to the real estate commission and ethics board of the association and probably with sufficient grounds for an investigation.[/quote]
_________________________
Paul Oaks
Oaks Real Estate Group

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#129115 - 03/17/07 07:29 PM Re: 30 min Open House??? This Ok?? [Re: Paul Oaks]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3720
Loc: Dayton Ohio
I don't see anything wrong with it. I am going to try it myself, The color yellow gives the impression of urgancy, not the fact the this is a quick open house. Is it false? The sellers are wanting the house sold quick, thats not wrong. The agent wants to have a quick open house and move on, nothing wrong. I like the idea. Then again I was the one who washed the signs and left them out front!


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#129118 - 03/17/07 07:33 PM Re: 30 min Open House??? This Ok?? [Re: REODayton]
Agent 007 Offline
Major Contributor

Registered: 02/05/05
Posts: 2713
Loc: Las Vegas
I don't see anything special about a 30 minute open house, except that it may be a waste of time.
_________________________
Len McGuirk
Prudential Americana Group
Direct: (702) 203-6688
Las Vegas Real Estate

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#129132 - 03/17/07 08:16 PM Re: 30 min Open House??? This Ok?? [Re: Agent 007]
K20 Offline
Member

Registered: 02/24/07
Posts: 133
Loc: WA
The point is instead of getting 6 looky loos in a 3 hour sunday, you get people who are actual lookers in a 1 hour period. As explained to me. The idea is to not make it look like the typical sunday open house, yellow sign does give impression of urgency, and it's like washing your signs infront of your home, if someone thinks that it's the owner holding the open house, not an agent, it's an assumption of theirs. I'll let you know my results but I'm still waiting on the signs.


Edited by K20 (03/17/07 08:17 PM)

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#129165 - 03/17/07 10:51 PM Re: 30 min Open House??? This Ok?? [Re: K20]
Cool Cat Offline
Member

Registered: 03/08/07
Posts: 322
Loc: Indiana
I believe Craig Proctor (Real Estate Trainer) promotes short open houses called caravans. I think his idea is to start at the office and go to several similar homes in a subdivision that you or agents in the office have. You spend 15 minutes to half hour at each location and then everyone caravans to the next location.

An extra hook is to offer the local FSBO's in this "showcase" of homes with the understanding if you get a buyer, they will pay a buyers commission.

I bet you could even call competing brokers at different agencies and say that you have several buyers wanting to look at their house and set up appointments on Sunday from 1-1:30 then the next 1:30-2, and then the next other agent 2-2:30.

Can you imagine if you did this to a subdivision that you were farming. If you had permission to show to buyers all the 12 homes in the subdivision; Yours, FSBO's and also competing agencies listings that were for sale. If you ran an ad in the Sunday paper advertising VIEW ALL THE HOMES FOR SALE IN XYZ SUBDIVISION - STARTING AT 1:00 SUNDAY AT 123 MAIN. (Your Listing) Then cover the subdivision with flyers, Broadcast Voice Mail (which is a service that my 800 number offers) a message that states; view all your neighbors homes for sale to get an idea how your home compares value wise. (put that on the flyer, and the pre-recorded message that your automated call will make to every household in the subdivision.) Finally, have a big yellow sign posted that says come on our caravan of Homes in XYZ subdivision starting here at 1:00 and ending at 4:00. view all the homes for sale

I could (or a Lender) even rent a small little bus to caravan in a large subdivision. Have Free drinks and snacks on the bus, plus an info packet on our services. The home sellers could go on the tour and be incognito. Afterwards we would end at my listing and I would direct people to come forward to make an appointment back at the office for help with either financing, to put in any offers, or if they wanted information on listing their home, (if they had to sell it first.) Kind of like an alter call.

After you do this in one subdivision and you want to try it another, how could a competing broker turn you down. Would he want his buyer asking why didn't they look at my house? I could still pass out data sheets on homes we had to skip over and say that we will have to make private tours for this home.

I have thought about trying this method for some time but never have. Now after putting it in writing it even looks like a better idea. Any thoughts?

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#129172 - 03/17/07 11:32 PM Re: 30 min Open House??? This Ok?? [Re: Cool Cat]
Cool Cat Offline
Member

Registered: 03/08/07
Posts: 322
Loc: Indiana
If and when I successfully did a tour like this in the neighborhood, I could cold call homes not currenntly listed and ask if they would like to participate in XYZ subdivision's next tour schueduled say 6 weeks out. Even if it was a one day or a limited listing.

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