10 Tips to Holding a Successful Open House

10 Tips to Holding a Successful Open House

1. Place the Open House on Realtor.com

The first thing you want to do when you decide to hold an open house is place an announcement on Realtor.com. If you are a featured agent you can do this in your edit listings section. If you are not a featured agent, shame on you! For only a few hundred dollars a year it will magnify your business.

2. Door Knock the Neighborhood

Here in Santa Clarita there is many areas where solicitation is not allowed. However if you are just inviting people to an open house, no harm, no foul. I have a lender that will make postcards for me and on the postcard there is a free drawing that one person who visits my Open House will receive a 4 hour limousine ride which is provided by my lender. It gets traffic into the Open House and impresses possible up and coming sellers

3. Preview Property in the Area

Any Realtor knows that nine times out of ten the customer coming through the Open House is not going to buy that particular house. You need to know and see other properties that are less expensive and more expensive and/or larger than home you hold open.

4. Proper Sign Placement

The more Open House signs you have the better. I recommend Open House signs that have your name or your web-site on them. It's great advertising even if someone doesn't come to your Open House your name is on busy street corners for hours. Never cut short of heavy sign placement. If you are new and are holding an Open House for another agent choose location wisely. Next to freeways and high traffic areas are always best.

5. Dress Professionally

I actually got an interview to sell a home (which I listed) because she liked how professional I looked. Agents today feel they need to dress casual and fit in like a friend with their clients. I completely disagree with this concept. First impression is everything and you never get a second first impression. It's very important to keep on a professional level. If you stand in front of lawyer, doctor, accountant and have to choose one by looks, are you choosing the one in khakis/ jeans or the one in the suit? People don't trust their friends with their hugest investment as much as a professional. Not to mention friends always want special favors.

6. Bring Your Lap Top

If you have a lap top you need to bring it to the Open House and set it up. You should have your MLS up and running on it. That way you can pull any current actives someone may be looking for to tell them about it and set up an appointment for a later time to show. Also if you have market snap shot it's a great tool to set up buyers and sellers on. Either to keep current on the market in case they want to sell or get property info. You can also set buyers up on an email listings campaigne before your competition does once they leave your Open House.

7, Bring Snacks or Food.

Usually I experience not to many people actually eat anything but in summer time water is huge. You have to remember that an Open House isn't always about getting buyers but also impressing possible future sellers in the neighborhood.

8. Getting Contact info

I always have a sign in sheet. I greet people at the door and welcome them. I tell them "Hi how are you today?" "All I need you to do is sign in and I will give you a flier and you can help yourself" I guide them to the sign in book and stand there, quiet, non invasive. DO NOT pounce on people when they get there. Another key thing I do is fill in one contact name completely full. It is amazing how many people will completely fill out the info if someone else has already done it. My Mom is the first contact with all info filled out on every book.

9. Open House Fliers

I always bring Open House fliers that my lender provides me. On one side it has information on the house. On the back side it has boxes which give different lending ways to purchase the home with payments. Like 10% down verses 20% down. FHA verses conventional. It's a conversational piece and shows them options of affordability.

10. Bringing Extras

I have a brochure about "Laura Coffey". I hand them out or sometimes staple them to the Open House flier. I want people to know why I'm better than the next guy. I have my ABR designation so I want buyers to know why that is important to them when choosing an agent. I have my CDPE designation in case a home owner in the neighborhood is in trouble financially I want them to know I could help. I also glue my card to maps of the area and pass them out to out of towners.

I started my business on Open Houses. For me it is the quickest way to find business if you do it right. I personally don't like to cold call. I'm a warm and fuzzy type of agent. If you do an Open House at a good location and follow the above steps you are going to get some business. Prepare yourself on the current market and listings in the area, know the property that surrounds you. Don't come off pushy. I always introduce than stand back. Once I've let them go though the open house in peace then I"ll chat. "So what did you think" If they don't like it. "Well what exactly are looking for? I have everything listed right here on my computer, let's take a look". If you don't have a computer to bring, bring a list of actives. Always follow up the next day with either a written note or a phone call saying thank you. I hope these tools will bring you more traffic and if anybody has any ideas I don't have please share. Thank You and Good Luck!

Laura Coffey, ABR, QSC, CDPE

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