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Open Houses Are Not Only For Realtors

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

Open Houses are usually thought of a something Realtors do in marketing their listings, but Open Houses Are Not Only For Realtors. Open Houses serve as an excellent tool for me as a Loan Originator to meet Realtors and hopefully meet potential Borrowers as well.  My experience with Open Houses is in partnering with a Realtor at one of their Open Houses, and also stopping in at Open Houses on my own.

It is not unusual for a Realtor I partner with to invite me to assist the with an Open House they are doing.  My function at the Open House is to be there to assist in answering questions about the mortgage process and answer mortgage related questions.  I will also assist the Realtor in welcoming visitors while the Realtor is busy escorting other visitors on a tour of the house.

I will usually bring a handout or two, as well as pens for visitors.  One of the handouts I bring is the Open House Flyer above.  The Open House Flyer above, was for an Open House I did for an Open House I did  with another ActiveRain member, Pat Harriman, a couple of years ago.   Check out the Interest Rates from a couple of years ago, the FHA and Conventional rates have flip flopped, and the FHA rate is the lower of the two now.  I have gotten Borrowers from doing Open Houses with Realtors, in fact I ended up Pre-Approving a potential Borrower who stop in at this Open House with Pat.

Besides assisting Realtor's with their Open House, I also have made it a practice of stopping in at three Open House on Sundays that I am not doing one with a Realtor.  I have blogged in the past about what I do, and bring to these Open Houses. Such as the Open House Flyers above and the Open House Survival Kit to the left.  I have found Open Houses to be an excellent way to reinforce or start new business relationships with Realtors.  You can read more about that by clicking on the two links above.

When I stop in at Open Houses, I also get to see some creative things Realtors do at Open Houses.  One of the most creative ideas was by one of Pat & Wayne Harriman's Realtors.  This Realtor is a Morning DJ on a local radio stations.  So for the Open House he held a Remote Broadcast from the Open House while people were touring the house.  He also had a Scavenger Hunt for prizes and gift certificates for local business.  He even had a grand prize which was tickets to a well know Country & Western Singer who was performing at the Chevy Center in Wallingford, CT that week.  Needless to say this Open House was very well attended.

So while Open Houses are a tool mainly used by Realtors, Open Houses Are Not Only For Realtors.  Loan Originators, Home Inspectors, Attorneys, Home Repairman, and others can also participate in Open Houses as Well.

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Posted by

George Souto
NMLS# 65149

C (860) 573-1308
CALL 7 Days/Wk
Fax (860) 760-6891

Email Me
About Me
My Blog

I am a Mortgage Loan Officer who can assist you with all your mortgage & refinancing needs in
CT, and RI

I can assist you with your Conventional,
FHA, CHFA, VA, USDA, & 203K loan programs.

I reside in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Haddam. E. Haddam, Higganum, Chester, Essex, Deep River.

 

Comments (33)

Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

I can't remember the last time a mortgage lender or any other real estate industry related professional stopped by one of my open houses. I think it's a great idea. If a lender took the time to come in and meet me I'd absolutely take his cards and talk about business with them. 

Jul 09, 2015 01:33 AM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

George, an open house is indeed a great way to meet other professionals and potential buyers.  I've stopped by on several but not nearly as many as I should.

Jul 09, 2015 02:09 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I used to work with a LO that used to leave flyers like your sample but none will do it anymore. I'm not a fan of open houses because no one is prequalified for the most part - which is luckily where you come in.

Jul 09, 2015 06:27 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Stagers might also benefit from stopping by with a survival kit such as yours. 

Jul 09, 2015 06:46 AM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Very cool. Around here (perhaps because we are so rural), open houses are mainly for agents to see the property. And maybe a nosy neighbor or two. But hey -- it is much easier to tell clients about a home you have been in than one you have not!

Jul 09, 2015 07:55 AM
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

Thanks for the shout out, George. That was a really awesome open house, but it was Pat's OH, Joe was just there supporting her with staff from the station. And you're right, it WAS well attended, one of the highest turnouts we've ever had!

Jul 09, 2015 09:32 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

George Souto ...  I think how Open Houses are conducted vary from State to State .. and even city to city.  Although the offer has been made and stands, few agents in my area seem to want a Lender in-house during an Open House these days.  I agree with you that having a lender that provides service and answers available is a great idea.  I hope your post gets Chicagoland agents thinking! 

Gene

Jul 09, 2015 09:58 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

George, I think your open house survival kit is a splendid idea! Simple but it's sure it's effective!  People like tomworkmwoth people they have either worked with before or whom they have met before face-to-face, this definitely accomplishes that.

Jul 09, 2015 10:32 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I often have loan officers or inspectors stop by my open houses to introduce themselves.  I welcome them!

Jul 09, 2015 10:41 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Well George, did that live feed from the Open House bring a buyer?

Jul 09, 2015 11:54 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I think it might be a better tool for lenders than for agents.  You get the lookers not really sure and wondering if they can afford it.  You show them how!

Jul 09, 2015 12:10 PM
Vera Gonzalez
RE/MAX Suburban, Inc. - Sterling Heights, MI
Gonzo For Real Estate

I love when lenders stop by my open houses!!!

Jul 09, 2015 12:37 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Love the DJ idea!  I'll have to consider that for one of my upcoming listings. I've had lenders before but don't want them to be too imposing.  

Jul 09, 2015 01:08 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi George.  You are a smart marketeer.  Stopping by Open Houses is a smart business move.

Jul 09, 2015 08:18 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

George, you do a good job with a Realtor and add value to buyers at Open Houses...I find it hard in the summer to get lenders to do it though...you should come to RI for my next Open next Sunday!

Jul 09, 2015 10:29 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning George, I'm with Nicole Doty - Gilbert Real Estate Expert on this one. If I was a mortgage broker, title rep, inspector, I would definitely visit Open Houses, great way to generate business!

Jul 09, 2015 11:59 PM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

Very true.  I have met a lot of people in the industry that have stopped by my open houses.  I am glad they stop by since they can see first hand how differently I market my homes compared to some of the other agents they will meet that day.

Jul 10, 2015 01:45 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I agree completely.  If an open house has significant activity, it's a smart agent that partners with a loan officer to be right there when buyers show a real interest. 

It's good advertising for loan officers even if they not on site to have brochures available for visitors.

Jul 10, 2015 02:42 AM
Cathy Perry
RedKey Realty Leaders - Wildwood, MO

I have had lenders make flyers for me and stop by, and tomorrow I am doing my first open house to which I have invited a lender to attend.  I will confess I am starting this practice for my own safety, but I am looking forward to the added benefits as well.

Jul 10, 2015 05:15 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

George, too bad you aren't closer to Brandon, MS, as I'm holding Open Houses tomorrow and your approach as a lender is unique. Thanks for the post!

Jul 11, 2015 01:58 AM