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Offer Accepted; Cancel Open Houses

Two reasons to cancel open house if an offer gets accepted that day (which locks the seller to this buyer):

1) Buyer’s remorse sets in immediately, so it keeps the buyers happier because I’m committing to them and they don’t feel like I’m shopping their deal around, and

2) Keeps open house attendees from resenting the tease of seeing the house but not being able to buy it.

It is sensitive, and I can see why many agents go ahead with their open houses in order to get more leads and potentially a backup offer – but they risk tipping over the buyers. We already saw how easy the last buyers cancelled, so I don’t want to shoot myself in the foot.

New Covid Form for Open Houses

FreedomCM asked if people who attend the open house have to self-certify that they have been vaccinated.  This is the new form (above), which – like the previous form – just wants you to state that you don’t think you have the bug.

It is a thinly-disguised way for the agent to get your phone/email, and then contact you until you buy or die.  It doesn’t state that you have to divulge your phone/email, and if the agent insists and you don’t want them to bug you, then give them this number: 704-482-0022.

One of the crazy things that have happened since running this blog occured last year when I posted a copy of the original covid form for all to see. A lady in Northern California (who wasn’t an agent) came across it and began using it to schedule appointments to see houses for sale!  My name was at the bottom, and a listing agent called to see if this person worked for me. I’ll delete this in a couple of days!

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Open-House Crossroads

With the California Department of Public Health allowing open houses now, it would seem that we are getting back to normal.  The industry has done open houses for 100 years, so taking a few months off shouldn’t inhibit the practice from coming back.

Or will it?  It will.

Why? Because the covid-frenzy has condensed the selling process into a weekend. We only show homes by appointment now, and many listing agents demand that buyers show proof of ability to purchase just to see the home. It makes for a clean and tidy 5-30 qualified appointments over the first couple of days on the market, and then pick a winner. Job over.

Listing agents will resist having to work any harder. Instead, they will adopt the appointment-only plan, and then convince sellers that they don’t want random people wandering around their house.

What are the benefits of open houses? Why would we want them to come back?

REASONS TO HAVE OPEN HOUSES

The main reason to do open houses is to create real or imagined urgency – the fear of missing out.  There is nothing better to motivate a buyer than to see other competitors roaming around the house at the same time – it makes them think that they will lose out if they don’t act promptly.  Sellers deserve this benefit.

While demanding to show proof of ability-to-buy sounds good, it eliminates those legitimate buyers who do have the ability to purchase, but don’t want to show their financials just to see a house. We want to include these buyers who are currently shut out from the process. I know there will be agents who will scoff and declare that any buyer who is unwilling to show their underwear just to see a house isn’t a serious buyer anyway. But it’s just an excuse – the minute the frenzy is over, you’ll be back to showing homes to anyone with a pulse.

Interacting with buyers in person helps agents keep their chops up.

C.A.R. will be releasing more open-house guidance tomorrow. They will insist on booties and masks, and they might include a modified registration book where attendees state that they don’t have covid.

But don’t be surprised if agents are slow to adopt the old-fashioned open house techniques.

Happy Sun

Every sunset is different – I try to get as many as I can!

We had 70+ people attend our Del Mar open house today, and buyers were very engaged. Two other homes for sale nearby went pending in the last 24 hours – this one was in original condition:

Mar Scenic

This was also in original condition and listed for $936/sf….and had multiple offers (our list is $673/sf):

La Amatista

My listing (open Sunday 12-3p): 13604 Boquita Dr., Del Mar

Solana Open House

The best open house this weekend will be down at the sand in Solana Beach, where the weather will be in the mid-to-high 70s. Check out our Old-Spanish bungalow, go surfing at Tabletops, and take a long stroll on the beach!

506 Pacific Ave., Solana Beach

Open 12-3pm

$2,995,000

I’ll be there for the full three hours today!

https://www.compass.com/listing/506-pacific-avenue-solana-beach-ca-92075/359498520290704689/

NSDCC Open Houses This Weekend

I went through the NSDCC open-house list and these are my favorites based on price, location, DOM, and agent. They start in La Jolla (four on the oceanfront!) and go north up the coast as you scroll down.

Let me know if you’d like me to create a personal collection for your search!

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