Call Flat Fee Realty 919-342-5230 Terry McDonald LinkedIn Page Follw Us On Twitter See Us On Facebook

The Truth Behind Open Houses Listing Agents Never Share!

stockimages fdpDrive around a Triangle neighborhood on almost any weekend and it’s typical to see a multitude of signs advertising open houses. It is understandable, with these common events, that many home sellers believe open houses are just marketing tools provided by listing agents. However, in direct contrast, a 2014 survey by the National Association of Realtors found that less than 10% of buyers found the home they would eventually purchase through an open house.

What is their true purpose of open houses? Below, the agents at Flat Fee Realty share three of the best-kept secrets in real estate.

  • Open houses are new agent training grounds: In the real estate business, it is common knowledge that new agents want to build relationships with more experienced and successful agents, and they often will offer to host their open houses. It allows them to get in front of potential buyers, learn the neighborhoods, and brush up on market trends.
  • Open houses help build client databases: Many buyers attending open houses are just beginning their home search and may be unrepresented by a buyer’s agent. With minimal effort, the hosting agent can establish a relationship and perhaps end up representing one of these buyers. If these buyers have a home of their own to sell, it’s a double bonus for the agent.
  • Open houses are less important than ever before: The heyday of the open house was years ago, when real estate websites didn’t exist and people only had access to listings from licensed real estate agents. These days, with Google and smartphones, the vast majority of buyers turn to the Internet for their initial home search, only visiting properties that have been carefully researched in advance before a visit.

Besides the hosting agents, there is one other group that benefits directly from open houses. They’re affectionately known in the industry as “Lookey Loos” and they are those individuals or couples who enjoy spending a beautiful Saturday or Sunday peeking into homes that they have no intention of purchasing. It is important to note that home sellers intent on finding the perfect buyer for their property, might reconsider the open house.

Want to know how to avoid paying an agent for services you don’t actually need? Our experienced agents at Flat Fee Realty routinely help home sellers in Apex, Cary, Raleigh and beyond, choose the services they need and want. Contact us today to find out whether a flat fee, limited service, or full services listing is right for your home!

**

This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only. The Future of Real Estate! 

Flat Fee Realty 

919 342 5230 

Contact Us 

Terry@FlatFeeNC.com 

Photo: stockimages, Freedigitalphotos.net

3 Real Estate Agent Must-Know Secrets to Selling a Home

stockimages-telling a secret-freedigitalphotos.netThe Triangle real estate market is hot as August in Raleigh right now! But the market can slow down a bit as we head into September and October. While a slowing market doesn’t always translate to lower home prices, some owners decide to sell their own homes (For Sale By Owner/ FSBO) without agent assistance in the hopes of saving a few (or thousands) of dollars.

Below, the top-notch agents at Flat Fee Realty share their best-kept secrets to selling a home by owner:

  • Know limitations: Selling a home by owner requires a certain skill set. Everyone’s personality is different, so before taking on the challenge, be honest and determine if going FSBO is the right fit. Being a hard worker, a strong negotiator, good with people, and unemotional are all extremely important. Time and plenty of it is needed. Dedication to selling is paramount. If this sounds even remotely challenging, contact one of our Flat Fee Real Estate agents for guidance, expertise and support.
  • Manage expectations: Most people who decide to sell on their own anticipate saving a huge amount of money by avoiding paying commission to a listing agent. While it is possible to save some money, it’s usually not as much as anticipated. Smart buyers will know that an owner selling without an agent is saving on the commission, and will reduce their offer accordingly based on that fact alone.
  • Assess the competition: Yes, many buyers will want to change things when they move in, and a few of them might be willing to put in a little work if a home needs repairs or updates. By and large though, buyers want every home to show like a new home. The extent to which a home should be updated or repaired depends on the competition. Either match it (doing the minimum to meet neighborhood standards), or lower the price accordingly to attract potential buyers.

These three “must-know secrets” will set potential FSBO sellers on the right path, but perhaps the biggest selling top-secret tip for those wanting to sell a home themselves is to consider a flat fee listing. Our Flat Fee Realty agents offer all of the major benefits of working with a full-service real estate firm at a fraction of the cost.

Wondering what flat fee service entails? The experienced agents at Flat Fee Realty are available to answers all of your questions. Contact us today to find out if a flat fee listing is right for your home!

**

This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes onlThe Future of Real Estate! 

Flat Fee Realty 

919 342 5230 

Contact Us 

Terry@FlatFeeNC.com 

Photo: stockimages, Freedigitalphotos.net