OK, it's the weekend, but that's means Realtor Time! It's what we signed up for when we got in this business, right? The best time to be out and about! And Open Houses can be your key to picking up buyers. And even, double-ending your listing when the potential buyers don't already have an agent.
Whether in the business several years or a newbie in Real Estate, Open Houses can build your data base and result in closings! Yes, there are those "looky-loo's" but the majority of people are taking the time to visit the Open House, because they are thinking of buying or selling at some point, if not immediately. And you never know what will prompt someone who may not intended to be in the market to turn around once attending an open house.
Many of my closings have come from Open Houses. Some my own listings, some others. On one listing I was struggling with recently, I was able to get a price reduction from the Seller. I contacted a prior Open House attendee who was very excited about the home and not the price. However, when I told her nearly two months later, that it's now priced within the range she was looking for, she jumped on it! I not only was able to double-end that transaction, but I now have her townhome listed.
Three essentials are what I have found successful in doing Open Houses:
- Good signage is a must. The more the better! And attach a couple balloons to all of them. It sets you apart from most others and makes it that much easier for people to find you...if you make it easy for them; you have a better chance they will drop by. $10-$14...a pretty cheap investment. I make it a practice to call a party place the morning of the open house; have them ordered and paid for; and all I have to do is pick them up and run!
- Print out comparables in the neighborhood you are holding the Open House. If they're not interested in the one you are hold open, you'll have alternatives for them. And you may even be able to take them to see one after your open house is concluded. If not, visitors see that you are prepared, know your market, and not just there to sell the house being held open.
- You always want to print out an Open House Guest List. Guests generally always sign in and when asked in a friendly, outgoing manner, will always give you their contact information. And even if you only get part of it...reverse lookup on "whitepages.com" works almost every time!
So, take advantage of this time of year, especially, and if you don't have a listing...ask someone in your office (or send a blast email to members of your office) and offer to hold an open house for them. Most agents will welcome it!