This week, I have heard from numerouos agents that there are "NO BUYERS" out there. Sooo I decided to do something I haven't done in 15 years. Hold an open house.
I decide to do it, because I wanted to see for myself what the traffic is out there. I showed up at a lakeside condo in Lake Arrowhead Village at 1 today, got my signs out barely and someone wanted to see the unit. It has been a steady flow of folks out looking and interested in Lake Arrowhead Real Estate.
I am glad I spent the time today... it has been a valuable excercise.
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Owner/Broker of Coldwell Banker Sky Ridge Realty the Number 1 Real Estate Company in the San Bernardino Mountains. As well As Arrowhead Home Loans, Inc. "The Mountain's Trusted Mortgage Advisor."
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Steve: I have several new buyers--serious buyers--the past month. Not from Open Houses, though. However, I've been having an O.H. almost every weekend, and do get traffic. Of course, location is always key as we know...especially in a slower market.
P.S. I SAW your sign out there and thought, "Is Steve really having an O.H.?"
Great idea to really see what is, or isn't, happening.
Glad to hear you have buyers. Hopefully they will buy something.
I took a look this morning to see over the last 90 days how many single family sales we had in Lake Arrowhead. The following shows how many buyers were represented by the top 5 Companies in our market for the last 90 Days There were at total of 75 buyer sales in Lake Arrowhead for this period according to the Rim Association of Realtors.
Coldwell Banker 33
Remax 16
Prudential 4
Lynne Wilson 2
Windermere 2
Yes, my buyers are, in fact, serious buyers; several being cash buyers, so thankfully they won't have to deal/worry about a loan.
How many agents are in the top five companies? (Guess I could look that up, myself).
As far as poor little Windermere is concerned, I know for a fact there were MORE solds than two in the past 90 days. BUYER only representation, I am fairly certain there were also more than two. Maybe these stats from the MLS are not including Out of Area. Not sure.
UPDATE: AGENTS PER OFFICE (active as of today)
CB 66
REMAX 36
LYNNE WILSON 14
PRUDENTIAL 12
WINDERMERE 10
The stats are for Lake Arrowhead. No other areas have been compared, but I will put those figures together as well. But according to Rim Association of Realtors, those numbers are correct.
If you are looking at per agent productivity it shakes out like so:
Coldwell Banker 65 Agents with 33 Buyer Controlled Sales = .51 Buyer Controlled Sale per agent
ReMax 33 Agents with 16 Buyer Controlled Sales = .48 Buyer Controlled Sales per agent.
Lynne Wilson with 16 Agents with 2 Buyer Controlled Sales= .12 Buyer Controlled Sales per Agent.
Prudential with 15 Agents with 4 Buyer Controlled Sales = .26 Buyer Controlled Sale per Agent
Windermere with 11 Agents with 2 Buyer Controlled Sales = .18 Buyer Controlled Sale Per Agent.
A higher buyer controlled sale figure per agent usually represents more productivity. Thanks for bringing this to my attention, I hadn't gone done the math, but it is good to see where we stand.
No problem bringing it to your attention. I had figured out the numbers above, but was off (only) by a small amount, amazingly. I enjoy seeing facts and comparisons. What I don't enjoy is bloviating. It makes us (in this field) look ugly to the public.
We DO have 11 agents, now. My boo boo.
Wow! It's been 15 years since you sat on an open house, and your an agent? Where have you been? That's a long time for a broker! I think it is so important for agents to stay in touch with the public and not just take listings and sit back and watch what happens. A Real Estate professional should be more one on one with the public as it is a service oriented business. Glad you found the time to sit out on this one this weekend. Good luck, I hope you had a buyer in the mix of visitors.
Open Houses work... I held one at Cameo this past Saturday and wow, that is a hopping place to hold one.