The Open House. Most Realtors will tell you they have a love/hate relationship with them. When they are well attended, and certainly when they actually result in a sale, how exciting! On the flip side, when no one shows up and you sit there like the Maytag Repairman hoping someone will come and visit you and your Sellers are disappointed after getting their home cleaned from stem to stern - what a bummer!
Sometimes you can do all the right things and no one will show up. Other times a last-minute unprepared open house can keep you hopping with a steady stream of interested buyers.
What can you do to increase your odds of a successful open house? Planning.
1. Get your clients excited about ensuring a successful open house, too. Ask them to make sure the home is spotless and also ask them to leave some refreshments. Suggest a pitcher of lemonade in the summer or some coffee if it's a cold winter day, and a plate of cookies. Clients buy with all of their senses, and there's nothing like the smell of chocolate chip cookes to make them feel like they've walked into a home, not just a house.
2. Send out OPEN HOUSE postcards to the neighbors. We send out 100 full-color postcards to the neighbors, complete with a photo of the home and a brief description. We have used both Quantum Digital (formerly Quantum print) and Mail Print, Inc. They do all the work for you.
3. Mid-week before your open house, place open house directional signs at each intersection, and place a rider on the FOR SALE sign that advertises the day and the hours the home will be open.
4. Look Sharp. I love my bluejeans and tennis shoes, but when I'm wearing my Realtor hat, I'm representing that Seller, that home, and my colleagues in real estate. I'm in my business suit ready to do business!
5. Open House Day: Leaving well ahead of your appointed time, add helium balloons to your open house directionals to point the way, and one or two more on the FOR SALE sign.
6. Getting Ready: Find a prominent place to display the listing binder you have prepared that will feature not only the flyer you have created for the property, but will also contain information about the area schools, county information, shopping guides, etc. If it's available the binder should also contain an appraisal, comparables, major repairs and/or improvements, warranties, blueprints, and a survey. You can also engage your mortgage lender to put together some financing options for this home. You'll also want to have a sign-in sheet in the home, and ask each visitor to sign in so that your clients will have a record of who visited their home. And of course a most important item you should have with you is the purchase contract. (Remember: we're thinking positively here!)
I mentioned earlier that people buy with all their senses. Open up all the drapes to let in plenty of natural light. A bright, cheerful home lifts the spirits. Turn on all the lights. Have a soft bed of easy-listening music playing. Make sure the home smells good, but don't spray air freshener if at all possible because people tend to think you're trying to mask odors.
7. Virtual Tour: If you have done a virtual tour of the home (we use a company called Visual Tour), bring your laptop with you to show off the kind of work you do. Buyers are also "pre-Sellers"; most of them have a home to sell, so why not show off the high-caliber work you can do for them as well? In that same vein, bring your listing presentation with you. Open houses are great places to meet new potential clients.
8. Okay, They're Coming: Greet everyone with a smile and a firm handshake. Make them feel welcome. Don't be a "hover-craft"; give them some space and let them look at the house. If you've alerted the Sellers at the time of the listing to put away all valuables, you won't feel a need to follow them from room to room worrying about the buyers walking off with something under their coats. Offer them a cookie and something to drink.
I usually ask them if they'd like to have a tour, and in most cases they say yes. Engage them in conversation, asking them what it is they're looking for in a home, and after they have seen everything, go ahead and ask them: "What do you think of this home? Is it a home you would consider buying?" If they say yes, you can let them know how easy it would be to write up the offer right there at the kitchen table! If the home you're holding open isn't the right fit, ask them if you can help them find their perfect home. If they're not already working with an agent, why shouldn't you be their Realtor? Oftentimes buyers visit open houses in search for a Realtor they can feel comfortable with.
9. After the Open House: Leave a "Thank You" note for the Sellers, and let them know how it went. Tidy up and turn off the music and all the lights. Take down all the balloons and open house directionals.
10. Follow Up: Send out "Thank You" notes to everyone who signed in. Encourage them to call for another appointment to see the house if they expressed interest but weren't quite ready to take the plunge, or ask again for their business. (I try to remember to bring the note cards with me and write them in between visitors so that they are ready to mail Monday morning.)
Some agents see open houses as an incredible waste of their time, and statistically speaking, especially when Buyers can "virtually" see homes online, the odds are against you that they will sell the house, but if planned properly, they can be a wonderful resource for expanding your business.
Jacki and Jerry Shafer are "mega agents" with The Shafer Team and Keller Williams Realty Louisville East. Jacki and Jerry specialize in eastern Jefferson County in Louisville as well as nearby Oldham, Henry, Trimble and Shelby counties in Kentucky. They are "empty nesters" living in Crestwood in Oldham County. Jacki has been selling real estate for over 20 years and Jerry joined The Shafer Team 12 years ago.
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