How to Make that Open House Work!

Hello All!

Our team has been in dialogue regarding open house - the traditional "do they really work" conversations. In this competitive market I am finding that the sellers are yearning for that "touch."  On the flip side, statistically open houses rarely sell that house and at best are lead generation tools for the agent to find prospects for other homes.

We have put into place a strategy to increase traffic to our open houses and have championed the idea that if we can drive traffic it is a win-win for us and for the seller. After all, no one will likely buy or tell their friends, family or co-workers to buy the house until they have seen the home! The plan begins on Monday before the open house and wraps up the Friday after the open house. When done consistently traffic increases as well as the quality of the prospects -- that's definitely a win-win. Highlights are as follows:

Monday: Call Seller to confirm open house. Remind him/her about the importance of condition. Mention that you will drop by during your neighborhood walk on Thursday to take a quick peek and re-familiarize yourself with the home.

Tuesday: Print all materials. These include: flyers on the subject property. A CMA of properties in the neighborhood AND a CMA for homes in the surrounding neighborhoods. This CMA should show clearly the value of the subject property. Sample buyer's guide. Sample relocation guide. Create signs for each publication: i.e. Sign in to receive a free buyer's guide. Also create a sign for your drawing (see Friday)

Wednesday:  Send email to your database inviting them to the open. Send email to realtors who work the area inviting them and their clients. Target "move up" neighborhood within 5 miles and call, email and/or send invitations. Put up your signs.

Thursday: Place your ad in the local paper. Perform your neighbrohood walk. This involves going to the subject and saying hi to the owners (check on condition and make recommendations if needed). Leave a stack of flyers with owners to pass out at their co-workers, friends, etc. Go to at least the 5 houses to the right, 5 houses to the left and 5 houses across the street from the subject. This is best done after 5 to increase the chances of folks being home. Invite the neighbors to the open house -- you will be amazed by their response! Give them a stack of flyers to take to interested parties. This is a fabulous way to establish yourself as a professional in the neighborhood.

Friday: Set up your drawing. I like the idea of a simple starbucks gift card. Also make sure your open house kit is ready to go with all materials.

Saturday or Sunday: Showtime! Arrive at least 30 minutes early to put out all signs and sign-ins, light candles or start cookies ang welcome in those buyers.

Mnday: Call to touch base with potential buyers. Send email to everyone who signed in with the winner of the drawing.

Tuesday: Continue to follow-up with buyers, set appointments for buyer consultations.

Continue until Friday.

I hope this is helpful! Once you have your collateral materials and guides set-up it becomes really easy to execute and is very effective.

Happy Selling!

Kim Rivers

kim@ringtherivers.com

www.ringtherivers.com