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This is a VERY interesting topic, and came up with a REALTOR I spoke to JUST last night!! She is a 20 year Vet of the industry, and doesnt believe in OPEN HOUSES! Well, I DISAGREE! I have made alot of REALTOR contacts at them, customers that may not have bought that particular home, but still bought another one, and many great prospects and friends! We need to REVERSE this attitude! Also, and let me be loud and clear, saying something like, "well, that doesnt work in our area of the country" is ridiculous! Prosepcting is prospecting, no matter where you live!
I have LENT MONEY to people all over the United States in my 20 year career, and my biggest suggestion to everyone reading this is DONT MAKE ASSUMPTIONS! Do not pre-judge! Our JOB is to offer the product we provide or sell, and let the customer decide! "You cannot sell it, if it isnt offered!"
From a LENDERS perspective, here are my suggestions!
I would post it on the following websites for a start, not just the newspaper.
All the newpapers electronic websites for local newspapers
Then: Here are my other specific ideas
1. Contact other REALTORS and make sure THEY KNOW about this! Talk to the TOP 10 producers in your area, and call them and send them an email!
2. Talk with your lender partner, and have THEM get an email campaign going with you! EZINE!!! SHARE perspective leads! "repitition is the mother of learning"
3. Get a renter list, and send invites to them. Have a calling nite to followup on the mailer.
4. Have a prize or give away at the open house..For example, get your lender partner to contribute half, towards a grill to be given away...Here's the rub: When people are sheepish about "signing in", this will allow you to "register them" for the grill, or nights stay, or whatever gift for your area would be COOL! Trick here is that whoever doesn't win, STILL gets a call to let them know by the lender, and you can work on selling them! THEN, if they finance with you, or work with you, let them know you will give them a NEW grill for the home anyway!
5. Get flags, banners, balloons, and make sure THIS PLACE stands out big time! Directionals from downtown to home as well!
6. Have nicer fliers than just a copy of the MLS! Do your own...OR, have your lender partner help you!
7. Get a Call Capture system in place
8. Get this OPEN HOUSE on the chamber website, and post fliers in quick trips etc..with tear offs! Again, call capture system! As well as post them in all the laundromats, bowling alleys, etc...wherever there is a board, post it!
9. Have your lender partner print out fliers on payments etc...and KNOW exactly how much the taxes are, and even have an insurance agent get you a qoute from your "sphere of influence", so the borrower REALLY KNOWS how much the TOTAL payment will be!
10...HERE IS A BIG ONE: IF the home qualifies for USDA 100% Rural Housing Financing, PUT THIS IN THE MLS, AND FLIERS!!!!! Add your lender partners contact information! THAT WAY, they can also defer the OTHER CALLS BACK TO YOU AS A REALTOR! You need to trust them to give you this business back! More than anything, share a calling night, and share expenses!
11. Get a financing sign and phone # in the yard as well!
12. Attach a "bionic" yellow, orange, or green flier to all the Feature sheets in the box attached to your sign, announcing the open house!
Overall, you have to spend MONEY to make an open house work! More & More, I am seeing and hearing Realtors say that OPEN HOUSES dont work! Well, I can tell you why they dont...You simply cannot put an ad in the paper, and hope people show up! You have to work it, earn it, and deliver on it!
In addition, this SHOWS your seller you are serious, a professional, and more than anything that you are actually TRYING to sell their home!
These are just a few of my ideas, as I dont want to give them all away, unless I am working directly with someone!! :)
Perception is reality, and the reality is, we have to WORK for our sales! Lenders, and Realtors alike!
Guy Lofts CRS, is a long-term area resident who has been helping people make sound housing decisions since 1993. Guy is a past president of the Wisconsin Chapter of CRS, the Certified Residential Specialists. He has been a top agent in the office for 8 years and leader in technology, having had his first personalized web page in 1995. With a first Blog in 2006, Guy is a leader in the Wisconsin Blogging community. Guy has provided training with in his office and is to present a training at this years Wisconsin Realtor convention.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.