What is your experience with Open Houses?

How soon do you take offers after an Open House?

This will tell you the agent's experience in dealing with lots of Buyers.

Do we take an offer before the Open House?

To take an offer before Open House is to deny the majority of the buyers to pay you more money!

Critical Skill: Managing an Open House is CRITICAL for you to get the Buyers to pay over list price!  What if the agent does not have the negotiating skills to convince all the showings during the week to come to at the open house time? A poorly attended open house completely kills the auction effect!!

At CoughlinTeam, we have studied over 12,000 buyers’ actions over the last 40 years!

When 25-50 people all get through a 2.5-hour open house, they are excited!

This is like a feeding frenzy at the zoo!

So you now have 5-10 offers, and all these buyers will be floating on adrenaline and their body’s natural endorphins and dopamine.

Now is the time to make a deal!

You do not let them sleep on it overnight!

The next day, 80% of the buyers will have gotten scared and will probably rescind their offer.

Now our wise governing bodies have come up yet another rule; the Recission Clause!

Buyers now have 3 working days to collapse their offer and pay a small 0.25% fee to the seller for the inconvenience!

Firstly, before we at CoughlinTeam accept an offer, we really grill the Buying Agent as to how solid their buyers are."

HAVE THEY COLLASPED ANY OTHER DEALS PRIOR TO OUR OFFER?

Secondly, we make sure we still have a 2nd or 3rd backup offer to replace a possible collapsed sale.

Boy oh boy, do we follow up with the Buyer’s Agent and make sure they know that we have backup offers.

That encourages the buyer that they did not pay too much!

To date, we have yet to lose a single deal with the rescission clause being invoked.