Understanding the benefit of realtors open houses for Coal Harbour Sellers.
The Real Estate Board of Greater Vancouver (REBGV) designate specific days for each neighbourhood. Mostly the Opens are scheduled from 10-12 noon. For Coal Harbour Realtors Opens are Fridays.
Realtors opens allow realtors to view properties that are new on the market. We often take a buyer client with us if there are opens that match the clients criteria. Since we are mostly busy on the weekend and are unable to visit the weekend open houses. The effectiveness of this type of marketing depends on what is happening in the market.
When it is a Sellers’ Market (more buyers than properties for sale), the Seller’s Agent facilities their schedule by allowing many appointments in a 2 hour time frame, rather than many individual showings.
As Realtors, the REBGV provides us with a program whereby we can automatically email our buyer clients new listings that meet their criteria the moment it is uploaded to the MLS. If the Buyer is interested they will call us to set up a showing – usually at the first open house.
In a Buyer’s market (more listings than there are buyers) realtors open houses are a useful marketing tool. It allows the realtor to view properties that may be of interest to their buyer clients and then urge them to view the property, if the realtor thinks its a right fit.
Yesterday morning I viewed 701-1680 Bayshore Drive in Coal Harbour. A s.e. corner 2 bedroom and den with some waterview to the east, 1027 sq.ft. with 2 secured parking spots, listed at $769,900. #1001 sold last August for $750,000, so this is definitely priced to sell.
The building is now 6 years old, air conditioned, pet and rental friendly and has a gym and concierge.
In a Buyer’s market, the buyers need a little nudge. In a seller’s market the buyers don’t need a little nudge, they’re breaking down the door to view the new listing. My marketing plan is adjusted to reflect the current market.