Open Houses, I Think I Have Done a Thousand

Open Houses, I Think I Have Done a Thousand. Over nearly 34 years in the business I have done hundreds of open houses, maybe a thousand. I have had houses open on weekends, weekdays, even had two in one day. What I have learned is that if you are going to do one, put some planning into it and make it the best it can be.

Here are the things I have learned from my many open houses.

Take something to read, no kidding, because if you do you will be so busy you will never get to read.

1. Make sure that you get the word out early. That could be by putting flyers out in the neighborhood, mailouts to neighbors and posting open house signs with the time and date of the open house at least 3-4 days ahead.
2. Go ahead and put an ad in the paper if you must. I have found it depends on your target buyer for the home, young buyers don't read the paper, older buyers have their paper read before 8:00 most mornings.
3. With that said, know who your buyer will be. If you can't determine that, then figure it out first and postpone your open house.
4. Post online in as many places as you can. Someone just may see it. Solicit the sellers' help with posting flyers at their offices and by helping to spread the word.
5. Spread the word through email and networking with other agents. We can post through our Realtor Open House Network.
6. Signage is critical. Bring buyers in from all directions but be sure to make it easy to get to the house and follow the turns you laid out in your posts.
7. Make sure it is open house worthy. What do I mean by that? If it doesn't have something special then you probably won't be able to lure buyers to come look. Pass on this home and choose a home that has some wow. You can always take some of those buyers to your more ordinary homes.
8. Is the seller ready for the open house? Are all repairs done and the house ready to sell? Is it priced right for the market? I do not have open houses on overpriced listings or for unmotivated sellers.
9. Check what else is happening in the community. If a big function is happening at the same time, plan the open house either before or after the big event.
10. I like to string banners or have a flutter flag in front of the house. It looks festive and says something special is going on.
11. I don't do cookies anymore but if the seller volunteers I let them participate and provide them. I will bring candy and bottled water for lookers to take or enjoy at the open house.

Okay now I am ready for people to come. Attitude is the key. If you are not up for the open house it will not produce results. As long as someone comes I can make a prospect out of them if my attitude is right. They may be a buyer, they may be a seller, they may be a neighbor, they may know someone moving, they may be moving next year, they may be wanting to build and getting ideas, they may be interviewing agents, they may be bored and want something to do but everyone needs shelter. If they come, they are a prospect.

What do I give them? I do not shove my card in their hand when they walk in the door. I greet them at the door, introduce myself and ask questions like these.

1. How did you find out about the open house?
2. How long have you been looking for a home?
3. Are you currently working with an agent?
4. How familiar are you with the area, (where do you live)?
5. Have you talked with a lender to get prequalified?

Now I don't machine gun the questions. I ask naturally and conversationally as they begin to look at the home. I tend to get all kinds of useful information from my lookers. I don't follow them through the house but I stay close by. I make sure to point out some less obvious features about the home. Toward the end of the tour I offer the brochure. It has payment information, house information and my contact information. I also have information on other homes in the neighborhood on another sheet for them to pick up.

Before they leave I ask them to complete a brief commentary on the house for the seller. I explain the seller is interested in hearing their comments. This captures their name, address, phone number and email address. It asks if they text. There are 2 to 3 lines to give an opinion about the house. I have tremendous success with lookers filling this out in its entirety. There is something about helping a seller and not helping the agent that makes them want to help.

By this time I know just what kind of prospect they are and whether I should ask for the appointment or promise to get them some more information. Regardless they are a prospect for later. As they are walking out I take their comment sheet and write my notes on the back all the time being conversational. They are offered some refreshments or they can take it with them.

Follow up is a must. A text or email that same day within a couple of hours is best. A handwritten note goes in the mail the next day and the phone call or follow up emails to provide the information promised should be done as soon as possible.

It works and produces leads. And yes I have sold the "open house" house the very same day several times. Open Houses, I think I have done a Thousand.