When someone new got into real estate years ago, one of the first things they were told was to do open houses on their firm’s listings. Anybody remember these motivators from the past? Tommy Hopkins, Danny Cox, Danielle Kennedy, David Knox, Gary Watts, Daryl Davis, Brian Buffini, Michael Ferry, Noel Seaman, Dennis McKenzie, Richard Robinson, and yours truly, Duane Gomer. Memories.
During the last few months it is apparent that the number of signs advertising open houses are increasing in our area. Is this a good sign or a bad sign about the real estate market?
There are many aspects. One is that owners might like some action. It can lead to listings in the area. The same reasons have existed for decades. I do know that some agents have done open houses many days a week. It is a way of life for many professionals.
There is one other phase of selling real estate that I discussed in my seminars. My first Department of Real Estate Course was entitled, “How Home Salespersons Should Sell Rental Units”? The course was a strong reason for the success of Duane Gomer Seminars. Check out selling Rental Homes.
About 44% of California homes are rented. In the counties of Los Angeles, San Diego and Orange the percentage is over 50%. I saw a report filed in 2021 that stated over 70% of the individual homes rented were owned by single owners. 44% times 70% means that if you do not ever investigate individual rentals, you are ignoring 30.8% of homes in California. I own some rentals and I get emails and mailers from discount buyers, but very little action from home sellers.
If you are interested in this subject, you should brush up on your 1031 Exchanges, Installment Sales, and Real Estate Tax on Rentals. You were just sent a survey about DGE presenting new courses, and one course being considered is an update of Rental Sales by Home Salespersons.
Back to our original question. Should you try open houses? That is up to each licensee, but you may not want to do open houses, but do something. If you keep doing the same old things and making no money, it might be a chance to try something new.
For example, in the field of education DGE started doing Live Continuing Education Courses in 1978. Our Sponsor Number of 0054 is the oldest Sponsor Number. Next, we did old fashioned Home Study CE courses. Then, years later we started Statutory Courses Home Study. A while later we arranged to take over John Henderson’s Live Exam Preparation Courses.
Notary Courses and Exams were required in 2005, and we were ready to start both live and home study courses. In 2010 the Federal Government required DRE and DFPI Mortgage Loan Originator to complete Continuing Education yearly and to become a MLO the students had to complete 20 Hours of Pre-License and pass a comprehensive exam.
It has been an interesting journey. Join us for more education. We try to present the best instructors, best materials, best procedures, and best services at a reasonable price.
See you around campus.
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