Looking for your feedback on the following idea. The purpose is to have more productive OPEN HOUSES by creating PRE LIVE OPEN HOUSES.
(1) The present situation:
- OPEN HOUSES are mainly Saturday or Sunday afternoons (sometimes Friday afternoons). They are really needed to get an idea of the property and the neighborhood and make an offer.
- Usually pictures of the inside and outside of the house are available on the Internet. Sometimes videos.
(2) The idea: using the internet to…
Create a one-hour live video event every Wednesday afternoon (just an example) where 50 to 60 real estate agents in the Bay Area would simultaneously use the video of their cellphones to show the houses and their environments, and answer questions. They would also use the video of their cellphone to show details according to questions.
Allow potential buyers to use their cellphone, iPad or laptop to select from a list, the houses they want to visit using live video … Potential buyers would discuss face-to-face by video with the real-estate agent in charge. 5 to 10 potential buyers could participate to each visit at the same time. Which means probably 30 to 40 virtual HUMAN visits for the same house during the hour.
To summarize: during an hour a thousand people could select houses that they want to visit with a real estate agent among a list of 50 to 60 houses. Each potential buyer move to the next selected house at anytime. So my estimate is that on average a potential buyer can visit 4 to 6 houses.
- There is a HUMAN connection
- Productivity on both sides.
- Real estate agents are less busy during the week.
- Potential Buyers stay in front of their laptop.
=> There is still a need to have OPEN HOUSES of course, but buyers are better prepared.
- Any suggestion? Why would it work or fail?
Great, but how do you plan to make money from this website? Since I was just in the market and eventually bought a house (granted through a private seller) I can tell you I got all of the notifications of desired area homes pretty much immediately and if I were interested in anything I went to the open house. At the end of the day, I will need to go to the open house anyway so why would someone like me pay for say access to your website? I work long hours during the week so someone like me wouldn’t do anything until the weekend anyway. Perhaps if I am out of the area and needing some help in finding a home I might use your service.
Thanks for your feedback. That’s what I am looking for to test the concept.
The idea is to have the real estate agent - and at the end the seller - pay. A fix price to participate to the event ($200? $500?). It is free for the potential buyer (like the real open house). Of course the proof is in the pudding. Will paying $500 bring 50+ more visits that would not have come otherwise? Would the buyers using this system be richer/lazier and willing to pay a higher price?
Why would the agent pay? Because he/she may access more potential clients and get a higher price for his/her client. So it is an added service offered by the agent.
The purpose is to reduce the number of fruitless visits for buyers, especially if they have to drive for 30+ minutes for the visit
Anyway, as you say, there is a need to go to the open house. After the open house, even if you like the house you may not be the highest bidder, which means that the process is long. It may take 6 months, a year… if you are a couple going to the open house it is time consuming and discouraging.
I see this pre open house system as a way to:
- increase the number of houses considered by the potential buyers,
- limit the number of open house visits to the ones the are really worthwhile.
So a productivity tool.
Thanks for the feedback!!! Looking for more