How well do you market your Open Houses? Well this one in Bel Air ...

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://staging.activerain.com/droplet/5bTs

How well do you market your Open Houses? Well this one in Bel Air, CA was extreemly well marketed...

I have heard agents across the country grousing that Open Houses do not work. People do not show up and it is just a waste of time. I have often disagreed publicly that I am of the belief that it depends how well you market the Open House, how well you price the house and what your attitude towards Open Houses will determine your Success or Failure. Keeping clear location is important as well.

Well with that said last year the most expensive home came on the market in Bel Air CA in the coveted 90077 zip code. The home was listed at $250,000,000.00 it had everything you can imagine, helicopter, numerous sports and ultra-luxury cars that were included with the 38,000 sq. ft Ultra Luxury Spec Mansion. The word amongst the Realtors was varied, some that felt it was an ego price other thought it was crazy etc. There were others who were trying to get their clients to see the home.

Some people were just dreaming what it would be to sell a home, others were reaching out to their client base. Shortly after a few months of marketing the property was in Escrow and then the deal fell apart. Everyone was guessing about who the buyer was and others were guessing why the deal went south. Those who knew signed confidentiality agreements and they could not talkūüėä!

Recently this Ultra Luxury Home came back on the market at huge price reduction: only $188,000,000.00!

Now with that said this past Tuesday the Listing Agent Team advertised that a Brokers Open House will be held at this mega mansion and it was scheduled, instead of the normal 11:00am to 2:00pm rather it was from 4:00pm to 9:00pm.

 

 www.endrebarath.com

Just to give you a perspective this Open House Event generated over a thousand visitors, from Local Realtors, to Media representatives to lookie loose. Basically, it became a Social Media Frenzy. There were runway models serving champagne and sushi. Bel Air was in a total grid lock. The super affluent residents could not get to their homes or leave their homes thanks to the traffic jam. So, within two hours the Police Arrived and forced the Open House to be shut down and send the disappointed interested lookers to leave the area.

 This Open House has been promoted since last Saturday and everyone who needed to know in the Greater Los Angeles area knew about it.

Well, check out the link to get more details. So, with that said if the Open House is well marketed people will come!

https://www.youtube.com/watch?v=FsZ2c7Y2MfM

So Open Houses do work, and they get the word out about a home!

Now if you are considering buying or selling an Ultra Luxury Home or a Luxury Home in the areas from Malibu to Beverly Hills please reach out to me directly!

If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com.  I contribute a portion of my commission to local animal rescue organizations.

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Best Practices
Location:
California Los Angeles County Bel Air
Groups:
International Real Estate
Bananatude
Hyper-Local
HyperLocal Neighborhood and Community Posts
ActiveRain MasterMinds
Tags:
endre barath
bel air 90077
ultra luxury homes in bel air
ultra luxury homes in beverly hills
endre barath berkshire hathaway beverly hills realtor
ultra luxury building sites in beverly hills

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Rainmaker
269,557
Gregory Manns
HomeSmart Professionals - Palm Springs / La Quinta, CA - Indio, CA
Palm Springs Area Realtor HomeSmart Professionals

Thank you for the interesting post Endre!

I believe I need to get increasingly more creative in advertising my open houses.

Apr 23, 2018 06:09 PM #43
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debb Janes EcoBroker and Bernie Stea JD  I suspected this would be a mob scene, since I am accustomed to "invitation only" for properties North of $40 million, hence I chose not to go. Endre

Apr 23, 2018 07:51 PM #44
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Amanda S. Davidson  you can send me your referral client and I will take good care of them:)Endre

Apr 23, 2018 07:52 PM #45
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Patricia Feager  you make an old man feel good and you know how to make him blush, Endre

Apr 23, 2018 07:53 PM #46
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ron and Alexandra Seigel  indeed I anticipate this time it will, Endre

Apr 23, 2018 07:54 PM #47
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Robert Vegas Bob Swetz  well now that we know what you consider a bit much, can we narrow down  your top range? Endre

Apr 23, 2018 07:55 PM #48
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Myrl Jeffcoat  so did you check out the video? Endre

Apr 23, 2018 07:56 PM #49
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna Banana Kruchten CRB, CRS, Broker  indeed those Open Houses become memorable even for us long term Realtors not just for the potential buyers, Endre

Apr 23, 2018 07:59 PM #50
Rainer
436,260
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

I've participated in an open house in excess of 100 visitors daily on a weekend. If planned intelligently, the chaos could be mitigated and offers to buy could be reviewed and updated to other team members assisting in the open house. I believe open houses when promoted as an event works effectively and does generate multiple offers. 

Apr 24, 2018 12:57 AM #51
Rainmaker
335,436
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

Thanks for the positive approach to holding an Open House.

I totally agree that great marketing and pricing is a key to success.

Thanks

Apr 24, 2018 03:31 AM #52
Rainmaker
703,278
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

I enjoy hosting a twilight open house as something a little different than the norm although an agent recently grumbled to me about  the "awkward time." Worked out pretty well.

Apr 24, 2018 08:31 AM #53
Ambassador
2,702,380
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

is it still on the market?

Open houses aren't a thing in my market.  We've tried.  We try again every few years just to see, but no one comes.

Apr 24, 2018 09:09 AM #54
Rainmaker
435,654
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

This reminds me of Million Dollar Listing shows--which I love to watch, when they focus on the real estate and not the agent personal lives.  You are living the show!

Apr 24, 2018 09:54 AM #55
Rainmaker
968,196
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

The listing agent got what he wanted - attention. Maybe no one that saw it will buy it, but perhaps someone who heard about it . . .

Apr 24, 2018 10:08 AM #56
Rainmaker
653,157
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

That is some open house success. I attest to the fact they work and you can generate lots of interest in the home as a result. 

Apr 24, 2018 12:14 PM #57
Rainmaker
2,670,749
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  you are preaching to the Choir here, thank you for spelling it out so clearly and concisely, Endre

Apr 24, 2018 01:35 PM #58
Anonymous
Steve Pollack

Not sold yet but they just sold a property for $110 million so they buyers are out https://thewilliamsestates.com/

Apr 24, 2018 07:41 PM #59
Rainmaker
374,931
Suzanne Strickler
Realty Mark Associates - Havertown, PA
School is never out for the Succesful.

Endre ~ Can't say I ever had a thousand people come to any of my open houses. But then again, I never hired models to serve champagne.

Maybe next time.

Apr 25, 2018 03:48 PM #60
Rainmaker
876,982
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR¬ģ, EcoBroker, GREEN

I'll take one of the 2 master suites!  That is some kind of house.  It's definitely not called  a "house" errr.  mansion!  Wow! 

Apr 26, 2018 09:40 PM #61
Rainmaker
2,881,454
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Endre Barath, Jr. "...I am of the belief that it depends how well you market the Open House, how well you price the house and what your attitude towards Open Houses will determine your Success or Failure. Keeping clear location is important as well."

Right on target - and - re-blog!

May 11, 2018 06:03 AM #62
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Rainmaker
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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