The Second Chance House went on the market last weekend, and by all appearances, the timing was pretty good. It seems that this weekend (just ended) was huge for Open Houses. In fact, many of the near $1M homes in my subdivision that have been on the market since we moved here (8 months ago) had Open Houses this weekend, despite the fact that not a single one has had an Open House since in the past 8 months. So, I guess the other agents expect that buyer activity is ready to pick up after the holidays and now that we’re into a new year.
Based on this, we decided to hold an Open House on both Saturday and Sunday. I went into the weekend with absolutely no expectations (my wife and I discussed that we’d be happy with a single visitor at each Open House)…and I finished the weekend thinking that there’s a decent chance we’ll receive at least one offer in the next day or two.
While our marketing was sparse (Craigslist, the FMLS, and Open House directional signs), we ended up getting about 10 potential buyers through the house in two days, with about 4 or 5 of them indicating they were very interested.
The most likely offer would be from a woman who came over with her two agents and four kids about 10 minutes before the end of the Sunday Open House. They stayed for over an hour, and according to their agents, our house was 10x better than anything they had seen all weekend at that price point, and they were expecting the woman would want to make an offer Sunday evening.
About an hour later, my wife (the agent for our house) got a call from the woman’s agent saying that after looking at houses all day, and finally finding the perfect one (ours), the woman was getting cold feet about making an offer. The funny thing is that agent apparently had already decided that he was getting this commission, as he was extremely frustrated, and practically begged my wife to let him know if we received any other offers, so he’d have something to press his buyer with.
Then, an hour after that, he calls back and asks if his buyer can come by the house again with her mother to take another look. By this time, it was about 7:30pm, but I drove over, turned off the alarm, turned on the lights, got the house ready, and left. At 9:00pm, we got another call that the showing went well, and that the woman is planning to call her mortgage broker on Monday morning to figure out if the numbers work.
Additionally, two other buyers expressed a serious interest at the Open Houses, indicating that they’d be speaking with their agents and would get back in touch with us. Lastly, we had another agent stop by around 6pm Sunday evening, and spent about 25 minutes in the house with her client. So, it’s quite possible that we could get an offer from one or more of these buyers as well.
I’m not getting my hopes up — it doesn’t matter how enthusiastic potential buyers are until they actually put an offer in writing — but I think there’s a reasonable possibility that we’ll get an offer in the next couple days…