I read a post recently discussing how effective holding open houses is these days. A few years ago that was the best way for a home buyer to find Los Angeles homes for sale.
Things have changed, and Los Angeles home buyers are increasingly searching online for listings. Even if they are using the services of a Los Angeles Realtor®, they continue to use the internet on their own.
When something comes up that interests a buyer they generally want to see that property immediately and not wait until the open house which might be a week or so ahead. Especially in this market where good new inventory is few and far between. And by “good”, priced right is the main criterion.
Most often a home will sell because Realtors® on the lookout for a particular property for their client will have seen it come on the market and alerted their buyers immediately. No one is going to want to wait for the open house. There will be other parties wanting to see the same property also, and generally the listing agent will agree to show before the open house.
A great house is probably already “sold” before the day of the open house, and the chance of a buyer accidentally falling upon it that day is slim to none. So, many Los Angeles homes for sale will have the good fortune of being sold quickly and never make it to the open house day.
This is not to say that open houses should not be held; they most definitely should be as another method to get maximum exposure. However, they are not the draw for buyers they once used to be.
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