Prospecting for new business is our most important function every day, and we are all aware of the many ways one might prospect. Everyone has a favorite method. My team and I do our fair share of open house events every weekend, and that’s our method of choice.
Most agents are very negative about holding a home open, and they’re being quite shortsighted about it. There are many positive results that occur continually from participating in open house events. An open house is like killing many birds with one stone.
The seller always appreciates an open house and the exposure it provides for the property. The more the home is exposed, the more traffic the home will receive, and the better the chance of finding the right buyer.
An open house is a great way to network with new potential buyers and sellers. One never knows who will be visiting, but it’s always a great opportunity to meet new people. When we meet new people, we always find new leads. Networking a fantastic way to prospect for new business, and open house events make that happen.
When we provide an open house for a seller or a builder, we are displaying our marketing materials, and we utilize marketing to attract potential buyers to the open house. Often we have visitors at our open house events that are not there to buy a home, but they are thinking of selling their existing home. Before they decide to call agent to present them with a market analysis, they want to know exactly what to expect from that agent for marketing. What better way than to visit an open house event and not only see the marketing materials, but also listen to the manner in which the listing agent engages with other people. It’s a “first hand” method of interviewing without any warning to that agent. It’s show time without a dress rehearsal!!
Open house events are an inexpensive way to find new prospects who want to buy or sell real estate. It’s our favorite way of prospecting for new business. It takes time and thought but not much money. We take full advantage of open house events every weekend. It’s part of our marketing plan along with direct mail marketing and blogging.
All of our marketing is integrated. We use direct mail marketing and blogging to promote our open house events, and our open house brochures and our postcards have the URL of our outside blog. There’s overlap with all of our marketing.
If you haven’t participated in holding a home open, you may want to include this in your marketing program. If you are not a listing agent, quite often you may find a listing agent who needs some assistance with providing an open house event. We welcome other agents when they offer to hold our homes open, and hopefully they will not only sell one, but they’ll find new leads.