Attending an open house, but not to buy

TRD New York /
Sep.September 14, 2010 01:30 PM

A quarter of people who attend open houses do no intend to buy anything, while those who are serious about house-hunting are more determined than ever to be successful, according to a survey by Entitle Direct, Crain’s reported. Even before they attend the open houses, 50 percent of buyers do their own research by turning to real estate sources such as Streeteasy.com and City Realty, the survey found. Since about a quarter of the 190 survey respondents plan to attend an average of at least one open house a month over the next six months, many say they’ve become picky about turnoffs such as tight space, poor natural light and a smelly house. “For New Yorkers, real estate is a competitive sport, whether they’re actually looking [to purchase] or finding an activity for a Sunday afternoon,” said Edward Baum, head of marketing and sales at Entitle Direct. Baum also noted that 11 percent of the people surveyed go to open houses to pick up good decorating ideas, while 2 percent go just for the free food. [Crain’s]

 

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