Is the Open House dead?

If it's dead brokers sure are flogging that horse still. According to the report "There were 3623 open houses advertised in the city last weekend, the number of open houses is steadily growing. "

Then again I'm seeing stuff come on the market priced like the surge a bunch of people predicted was actually happening.

And if you think "pre-qualification" standards are getting tighter than you've drunk the Cool Aid. Just to show sellers they are working their listings brokers would show a listing to a dead cat if they thought it would actually show up to a viewing.

Here's a homework assignment for you: send an email to a bunch of >$20,000,000 listings and tell them you represent the mineral rights minister of a small republic who has to do a deal very quickly because when he gets arrested the will freeze all his funds and see if they will show to you.

Re flogging a lame horse, yes. Of the 50 properties in the search I've been running for years now, only 6 have a Matterport tour, yet there are multiple OHs each wknd. That's really pathetic. Matterport is vastly superior to anything else that I've yet seen. Maybe buyers aren't turning up bc they expect a Matterport tour, not an OH. Maybe buyers don't want to go house to house as if they were on HGTV, but instead want to zero in on the three properties they like most?

I also think sellers have higher expectations. Counting showings isn't cool now -- who wants germy strangers peeing in their toilets and opening their closets?

Open houses... I can't imagine why a broker would want to run one even if the building would allow it. At this point, it just seems like such an unnecessary risk for the host building residents/staff.

Open house by appointment works well, although I guess covid-19 has kept Lookers home. We had 13 or 14 groups at our Williamsburg listing, with multiple offers. We also signed two contracts today, outdoor space definitely in demand.

The Real Deal: Brooklyn’s luxury market reaches new pandemic high.
https://therealdeal.com/2020/08/04/brooklyns-luxury-market-reaches-new-pandemic-high/

Keith
TBG