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Why Bother to Hold an Open House?

By exfatguy follow exfatguy   2013 Aug 19, 3:05am 2,265 views  4 comments           share      

My neighbor is selling (San Jose area), and she had an open house on Saturday and Sunday.

What the hell for?

1   New Renter   2013 Aug 19, 3:25am  

So you can go in and take a dump in her living room!

2   exfatguy   2013 Aug 19, 3:27am  

Somebody did. It was standing there handing out business cards as people walked in.

3   bmwman91   2013 Aug 19, 3:33am  

Why bother? To get people in there and see how many people are in there in order to juice up the bids. One agent that I worked with once had a rule where you take how many bids you think that the house will get and multiply by $5k to determine how much to offer over asking. A lot of agents probably do that, so you would obviously want as much foot traffic as possible to scare prospective victims...err buyers into juicing their offers.

4   exfatguy   2013 Aug 19, 3:35am  

Ahhh, yes, get the suckers in that need mortgages (i.e. No Chancers) to make it look hot so the Chinese billionaires add another 50-100K to their all-cash, no-contingency bids.

I didn't look at it that way.

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