Productive Open House
Most agents aren’t successful at holding an open house. An open house is only as productive as you are. It all starts with preparation. Do you realize there are agents that make a substantial income by focusing only on holding open houses? They do it with a specific plan that starts the Monday before the open house, not flying out the door the day of the open house, trying to gather up enough open house signs and hoping a few people show up.
Why do you hold an open house? To get appointments.
The Day of The Open House
- Make sure the property is priced right, in a good location and in good condition. If possible, find a property that is close to new construction. Builders spend thousands of dollars in marketing and advertising to generate buyer traffic. Piggy-back on some of their marketing dollars and traffic by holding an open house close by.
- Preview all properties in the area and know the inventory.
- Place an ad.
- Place the open house announcement on the internet.
- Mail an open house invitation to all of the For Sale By Owners in the area.
- Mail an open house invitation to all recent expired listings in the area.
- Mail an open house invitation to your sphere of influence that live in the area.
- Mail an open house invitation to potential move-up buyers in the area.
- Mail 100 postcard invitations to the neighborhood.
- Call the entire neighborhood and invite them to the open house.
- Walk the neighborhood with an open house invitation flyer.
- Prepare a list of homes available in the area of your open house that you want to expose to potential buyers.
- Prepare an area market analysis so that you are up to date on current market values.
- Place at least 10 open house directional signs in the area.
- Drive the sign path to be sure they are positioned appropriately.
- Be sure that the home is staged for showing.
- Leave the front door open at all times.
- Position yourself in the kitchen.
- Invite visitors in and let them look through the property on their own. Don’t follow them around the house. They need space from you so that they can take their time and discuss what they are experiencing during their home tour.
- Upon completion of their tour, ask them questions about the house and ask them questions about their current home tour.
- Get an appointment to show them property.
The above are the basic steps to a productive open house. If you would like a complete plan of action so that you can experience great results from open houses, give me a call.