Sold by Jared Jacobs – Rochester MN Real Estate Blog

There is a home for sale in my neighborhood that has been on the market for about four months. The home has had an open house almost every weekend. We are talking double digit numbers of open houses and counting! Why would a seller and/or listing agent continue to hold an open house every weekend when it appears (in this case) they are not working? In short, do open houses sell homes?

Is your open house selling your home?

To answer this question, I think we first need to look at who attends open houses. Attendees may include:

Competition – other homeowners whose houses are also for sale. They’re checking out how their home compares.
Dreamers – people who would like to live in the house (neighborhood), but don’t qualify financially.
Seller Spies – friends of the seller, or the seller himself/herself, who want to see how the open house is going. Hint to sellers..let your agent do what you hired him/her for.
Looky-Loos – neighbors looking for interior design, landscaping, or remodeling ideas.
Nosy people – these attendees have waaayyy too much time!
Actual bonafied buyers who are ready, willing and able to purchase the home – these are the target market for an open house.
Seller Benefits: Market Exposure

An open house allows buyers and potential buyers access to the home to see whether it is the right home.
Some agents can’t show their buyers a home due to scheduling conflicts and an open house provides accessibility for these buyers.
Open houses allow buyers who have already seen the home the opportunity to go back and spend more time evaluating the property and neighborhood.
An ancillary benefit to the seller is the listing agent may get feedback from open house visitors that might help in the ongoing marketability/sale of the home.

Seller Drawbacks:

Security – prescription drugs, electronics, jewelry, cash and other small items have been stolen during open home showings. Thieves have been known to “case” a home during the open house only to come back later and steal items from the home.
Hassle factor – the homeowner has to be away from the home for 4-5 hours on a Saturday, Sunday or both.
Agent Benefits:

Allows agent to pick up buyers/sellers who have not committed to another real estate agent.
Allows agent to maintain a high profile in the neighborhood of the open house.
May sell the home off of the open house. NAR statistics show that 2-4% of all home sales are initiated from an open house. Not a great percentage!
Shows the seller that the agent is “actively” marketing the home. Many of the duties performed by agents aren’t easily “document-able.” An open house provides a verifiable example to the homeowner that the agent is doing something to sell the home.

Agent Drawbacks:

Inefficient use of time – many listing agents have newly hired agents sit at open houses for them because their time is better off spent elsewhere.
Personal security issues – agents have been assaulted/killed while hosting open houses.
Prior to the rise of Internet use in the home search process, open houses were vital in allowing buyers to browse/view homes. As online home searches evolve, the function of the open house has also evolved. Virtual tours/multiple photos have become more commonplace. Open houses are used by savvy Internet buyers to confirm that the house they saw online is the dream house they have been looking for. Unfortunately, the Looky-Loos still keep coming…

Lastly, holding open house too often tends to show to potential buyers that the home is market worn and/or a tough property to sell. So give it a rest.

How Often Should You Have an Open House? My recommendation!

The first two weekends of the initial listing period.
No more than once every three weeks after the initial listing period series of open houses.
The first weekend after any price adjustment.

Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today.

New to the Rochester, MN real estate market! Well maintained 4 bedroom, 3 bath home with loads of living space! Very open kitchen features abundance of cabinetry and countertop space. Property backs up to large park.

Amenities include:Cable; Ceramic Tile; Deck; Eat-in Kitchen; Kitchen Center Islnd; Kitchen Vent; Kitchen Window; Master Bathroom; Mud Room; On Bus Line; Tile Floors; Vltd/Cthrdrl Ceiling and much more!

Priced at $219,900. MLS #4016974

Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today.

New to market, very well kept home with loads of amenities and newly remodeled kitchen. Home features abundance of storage, very open & inviting floor plan, 4 bedrooms, 3 bathrooms, over 2,800 sq ft of living space, lower level kitchen, wet bar, wood burning fireplace, lots of cupboards & counter top space. Includes hot tub, large deck, 7×10 Master bedroom nook, laundry areas on both main and lower levels & much more.

Property features include Brick/Stone Accent; Cable; Ceramic Tile; Deck; Eat-in Kitchen; Hot Tub; Laminate Floors; Master Bathroom; On Bus Line; Patio; Security System; Walkout; Wet Bar; Wood Burning Stove and much more!

Priced at $194,900. MLS #4016876

Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today.

I know, I know, the popular thing to do is wait until after the holiday season to put your home on the market or to take your home off the market through this period.

Here’s my take on why this time of year can be GREAT for selling your home!

1) Less Competition- With everyone else taking their homes off the market or waiting until after the holiday to list why not be among the few options serious buyers have? Waiting means more competition!

2) Buyers Tend to be Serious- December in my hometown of Rochester, MN can be a little uncomfortable temperature wise with wind chill temps sometimes dipping below zero. Unless I’m a serious buyer I’m sitting home on the couch next to my fireplace where it’s cozy and comfortable. Only serious buyers are out and about this time of year and that’s a GREAT thing!

3) Homes Tend to Look Festive- I love the holiday season! When I see a home decorated for the holiday it gives me a good feeling. I can only suspect prospective buyers feel the same way. Nothing makes someone smile more then a brightly lit decorated Christmas tree this time of year! A smile on the face of a prospective buyer through your home is nothing but a GREAT thing!

Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today.

Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today.

This past Monday evening I gave up my usual spot on the couch watching the Monday Night Football game, yes I missed the Saints/Patriots, in order to volunteer at our local Lions club Christmas tree sale. In case you didn’t know or are new to the Rochester,MN area, the Lions have been selling trees, wreaths and accessories in the Wal-Mart North parking lot for the last several years.

This was my first time at the lot so luckily my fellow volunteer Fred was a seasoned vet and easily handled my rookie questions. Time seemed to fly as Fred and I helped families choose, shake, cut & bag their trees for them to take back to their homes to enjoy for the holiday. I found it a very rewarding & fun experience and I’ll definately be back for another shift before the sale ends!

If you’re still looking for your tree please check out the Lions Christmas tree lot located at the North end of the Wal-Mart North parking lot. All profits from the sale are donated to various charities the local Lions contribute to.

The tax credit that helped spur the Rochester, MN real estate market so far in 2009 has been extended and expanded. To qualify for the tax credit so long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010to close.

The tax credit has also been expanded to include some current homeowners as well. To qualify the current homeowner must have used their home currently sold or being sold as a principle residence consecutively for 5 of the previous 8 years.

Please call or email me for more details of this credit.

As a Realtor in Rochester MN I pride myself in finding the perfect home for all my home buying clients. For Rochester MN real estate service beyond your expectations call me today at (507) 421-6845!

Please consult your accountant for tax credit advice.

If you’re looking for a home in Rochester, MN don’t miss this 3 bedroom 3 bath property!

Updates Galore! Completely remodeled kitchen features an abundance of cherry cabinetry, beautiful granite countertops, built-in winerack, loads of space & much more. Master bedroom suite boasts master bath, walk-in closet, and walk-out to deck. Other features include nice sz. private deck,hdwd floors, fenced yard, cul-de-sac & more. Hot tub is negotiable. Asking price $149,900, please see my featured listings for pictures and more information. http://www.soldbyjaredjacobs.com

If you’re looking to purchase a home in Rochester, MN please give me a call today! I’ve been helping people relocate to Rochester, MN for nearly 10 years and absolutely love it! If you’re looking for a REALTOR in Rochester,MN please give me a call today!

Jared Jacobs, REALTOR GRI
Counselor Realty of Rochester
(507) 421-6845

If you’re a prospective home buyer in Rochester MN don’t miss North Park. Located near hwy 52 and loads of shopping North Park offers a variety of opportunities for you.

Built in the the mid to late 1980’s and early to mid 1990’s North Park offers several styles of homes priced anywhere from the mid to upper $100k to the upper $200k price range.

As a Realtor in Rochester MN I pride myself in finding the perfect home for all my home buying clients. For Rochester MN real estate service beyond your expectations call me today at (507) 421-6845!

If you’re relocating to Rochester MN or just looking to purchase Rochester MN real estate it’s not too late to take advantage of the $8,000 tax credit.

The credit applies to real estate purchased by the end of November 2009. Income limits apply and you cannot have owned a home in the past 3 years to qualify.

As a Realtor in Rochester MN, I do everything I can to help you find the perfect home for sale that fits your lifestyle. If you’re relocating to Rochester MN or looking to purchase Rochester MN real estate give me a call today at (507) 421-6845.