Do you have successful open houses?

How to have a successful open house!

The key to a successful open house is working it right. Too many realtors say, "Open houses don't work! They are a waste of time." Well my friends they are wrong! Open houses can be successful you just need to work it right. Let me tell you how.

 

1. Pick a day that you don't have to compete with other social functions. This allows you the opportunity to make your open house the social function people want to go to.

 

2. Prospect the area! I mean literally knock on doors. This is the most important part and should not be skipped even if you don't want to do it. If you find it to hard team up with someone and share the contacts you make. I generally get 5-7 leads from this prospecting.

 

3. When you prospect take a flyer telling the people about your open house. The flyer should have just enough information to wet their appetite, but not everything. I suggest not including the price. People will show up at the open house just to find out the price.

 

4. You should hand out a least 100 flyers personally. This process should guaranty you at least 5 people at your open house.

 

5. Mails out another 100 flyers to an area just beyond were you have prospected. Now you have another 5 people at your house.

 

6. Place a big ad in your local paper telling people when and where your open house will be held. People will see the ad and stop by.

 

7. Send an email or call every real estate agent in the area. Let them know about your open house so that they can bring their buyers.

 

8. During your open house be prepared! I've often had a lender on sight so that they can prequalify any buyers on the spot. When you place your ad and make your flyers advertise the lender being there. Have any and all of your personal information, magazines, flyers about the property, and contracts ready.

 

Now this is personal experience I'm speaking from. You may not sell the house then and there, but you now have 15-20 new leads. One of those may buy the house or you may get a new client. Either way it was time and money well spent.