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Open House 101 - A Strategy That Works For My Sellers and Me

By
Industry Observer CalDRE #01165532

Open House 101 - A Strategy That Works For My Sellers and Me

 

My Strategy for a Successful Open House - Pasadena Realtor Michael Jacobs 818.516.4393 cell

  

I like open houses.   My primary goal at an open house is to sell that house.  I like to put things into simple terms.   

Open houses work for me.  I understand this is not true for everyone.

  

I work my open house strategy for my sellers and for me.

 

 

 

My Open House Strategy - Realtor Michael Jacobs 818.516.4393 cell

 

I rarely hold open houses for other agents unless I see it as benefit for me(benefit for me:  an area where I want more listings or I have an upcoming listing).

When I am at an open house my goal is to sell that house - it is not to find new prospective buyers or homeowners who may be thinking of selling.   Of course, I’ve had both of those things happen while at open houses but my primary goal is to sell that house.

 

 

 

Getting Them to the Open House

 

Maximize Open House Exposure -- if the timing works, showings begin at a Sunday Open House(perhaps expanded hours) and continues through the next weekend.   Broker caravans are common in our area(buyers are well aware of them) and these are treated as a public open house as well.   I’ve conducted twi-light open houses but have not found much success.

 

Open House Advertising - newspaper impressions(limited), social media, blogging and a property specific website

 

Open House Signs - I use a lot(up to 15) of signs strategically placed.   Of course, follow local laws -- there’s nothing like a trip to the police station to pick up open house signs to teach you an expensive lesson.



Once Visitors Arrive At The Open House -- I Never Think of Them as Lookie-Loos

 

Actually Before the Open House -- arrive early -- make sure lights are on and appropriate music(sometimes).   Doors open to the outside especially if there's a nice garden, pool area -- directions to the guest house.   

 

Information About The House -- A property brochure, comparable properties on the market for sale/recent closings, community information.  I also include property disclosures and reports as well as a floor plan of the property.  I do have my personal information as well as business cards placed at various locations throughout the property.   

 

Open House Sign In Sheets - I don’t use them --- I might have one with me but those are people who ask me to follow up with them.  I also ask them if I contact you and don’t hear from you -- what should I think?   I don’t need any extra names in my database for people who don’t want to work with me...believe me, there are probably plenty I should eliminate.  

 

Open House Refreshments - I know they are successful for many.   I like to have cold bottled water available especially on a warm day.  I’ve tried cookies, candy and even nature bars -- sometimes good but I use them only occasionally.  

 

Open Houses and Me   I admit it, I like open houses and I “throw” a pretty good open house, especially during those crucial first days on the market.  I’m not sitting in the corner reading the newspaper. I stand, I greet, I point out that I’m there to answer questions.



If you are a homeowner thinking of selling or just curious about the current real estate market in Pasadena, San Gabriel Valley or the northeast foothill communities within the city of Los Angeles contact me at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.    

 

Open House 101 - A Strategy That Works For My Sellers and Me

 

Posted by

Michael Jacobs

 

CalBRE # 01165532

P. O. Box 587

Pasadena, CA 91102

Call/Text:  818.516.4393

mtj916@gmail.com

 

 

Comments (28)

Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA
Alexandria Virginia Homes For Sale

Hi Michael, I think open houses have their place but, will say I'm not a fan. I think it's great that you've found a formula that works for both you and your sellers. You work hard for them and it shows.

Jul 26, 2013 11:40 PM
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

Michael, sounds like you have the right formula - I think that open houses are great for Realtors because you never know, and that is the key to great surprises in life!

Jul 26, 2013 11:44 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Brad - thanks.

Debbie - it is about attitude for me and I'm not saying that those who don't believe in or who have less-than-stellar results with open houses have a bad attitude.  I know there are many reasons why an open house does or does not work.   Many years ago I had sold a townhome in a small complex where we had a very similar strategy to one I described resulting in multiple offers, a sale substantially over the list price and very favorable terms - another owner contacted me -- I thought it was a great presentation and really wanted to represent him -- his unit was the best, in my opinion, in the complex.   He decided to go with another agent -- he wanted a different direction -- she did not believe in open houses.    As they say -- different strokes.   

Roger - not exactly red carpet -- it would clash with most of the evening gowns in attendance -- HaHa.

Amanda - and that's what makes the world go 'round, right?   You've obviously found the strategy the brings the best results for you and your sellers.  There's room for everyone.    I have a client who has told me if/when they sell their home they want me to represent them but without traditional open houses and due to the nature of their home, I told them - no problem -- and I have a strategy for that too.  We need to remember it's about the client, first and foremost and they need to buy(or not buy) the concept I described.

Joanna - if we could only make sure the surprises were of the pleasant variety...I guess I like a bit more control than the surprise element.   

Jul 27, 2013 12:11 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

The secret here Michael is you have found what works for you and you keep doing it. Smart agent!

Jul 27, 2013 01:29 AM
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Michael-The definition of sanity is to keep doing it if it works and open houses obviously working for you which is wonderful. Have a great weekend.

Jul 27, 2013 02:38 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Debbie - and that "secret" will often be different for each of us.  Thanks for the re-blog of this post.

Sharon - ahh, interesting twist --- there.   I hope you are having a wonderful weekend.   

Jul 27, 2013 02:57 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Outstanding blog post Michael. I will add...on the sign in sheet...I fill out the first two with made up info. The reason I do it is simple...when potential buyers come in they will see others having filled out all the info...and they are more likely to do it as well.

Jul 27, 2013 03:01 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Michael,

We think alike! The secret is different for each of us! Coming up with the right formula that works for each of us takes time and years of experimenting. I have professional signs with our names on them too..no doubt when Dorie is having an open house. They work for me. I feel it is crucial to have lots of activity on a new listing.....always sees to being out those offers!! Congrats for your consistent efforts!

Jul 27, 2013 03:02 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

Well said, and I am so glad it works for you...it depends on the geography of an area.  What works in some places does not in other places, and I am a firm believer in that.  Even Google sends different search results based on one's locations. A

Jul 27, 2013 03:30 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Michael - You've got a great strategy that really works and other agents that are struggling with success at open house would do well to follow your tips and advice!  Suggested!

Jul 27, 2013 03:58 AM
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Glad you liked that. Every now and then something just comes to me. Smiling

Jul 27, 2013 06:27 AM
Scott Larson
BHHS/Utah Properties - Park City, UT
Park City, Utah Real Estate News

Most agents in Park City, myself included, hold open houses mainly to meet prospective buyers.  Yes, my primary resposibility is to try to get that house sold whether it is my listing or not, but the reality is in a second home market like Park City it is pretty rare to sell an open house to someone that walks through on a whim.  Most attendees are from out of state and just looking for information.

Jul 27, 2013 06:44 AM
Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and afternoon Michael

Michael my AR friend, you sure do have a mighty fine layed out plan for the open house you hold for your Sellers home! Coming up with and using a outstanding plan sure is the first key for anything to work out!

Have a good one

Dale in New Hampshire

Jul 27, 2013 06:56 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - Those are all very useful suggestions - I particlarly like your use of a lot of signs. I actually like doing open houses and I wish they worked better in our market, but they just don't draw traffic anymore.

Jul 27, 2013 08:43 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Jeffrey - since I no longer have a mandatory sign-in sheet at open houses, I don't have names at the top of the sheet to give visitors a clue how "to sign in, please".   I know this works for many people - but it's not my style.

Dorie - you're right about years of experimenting - in the beginning of my career, I did open houses for other agents' listings and kept thinking how I would want the house marketed - it was a good experience but made it all the more clear that I am my best when it is my own listing -- of course there are many agents who prefer not to do open houses and will find other agents to hold them open.   Whatever works for each person, I say.

Alexandra and Ron - that's interesting what you say about google and open houses -- I think I need to do some research on that....unless, you already have, of course.

Laura - I've followed your posts long enough to know the way you "work" an open house is very effective.

Sharon - you certainly do!

Scott - I can imagine open houses in a resort/second home location will be much different than in other locations.  And that's just more proof --- all real estate is local.

Dale - thanks for your kind words.  Yes, it does take a fair amount of prep work in order to make an open house event successful.

Dick - I've had people come into an open house and say -- we see you everywhere - of course, I know they mean my open house signs -- that's okay -- it's one of the best investments, a new agent can make if they choose to go this route in their marketing.

Jul 27, 2013 09:08 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Michael,  I couldn't believe it when I read a recent post of your and you mentioned that you had about 100 couples through your open house.  That was crazy!  15 signs are a lot.  I can't imagine putting that many signs out, but I guess I should get my act together and order more than 6.  As you might have guessed, I hate doing open houses but am asked to hold them frequently for the new construction I market.  Yawn!  I know, I need to adjust my thinking and my attitude, but they are just so darn boring.  Maybe if I bring Rocky along with me.

Jul 27, 2013 10:03 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael I have always been a fan of Open Houses, I have picked up listings and buyers every time I held Open Houses. This is a great Class 101:))

Jul 27, 2013 11:01 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Belinda - if open houses don't work as part of your marketing, I suggest you don't do them -- it certainly appears you are quite successful with your new home marketing campaigns without open houses.   I do believe the success of my open houses is beyond the number of direcitonal open house signs I place which most agents think is "crazy-many".   We all have to do what fits and feels right for us and our clients.

Hey Endre - that's great - my expectation for what I might "pick up" at an open house is just a bonus to my goal.   I'm glad open houses are beneficial for you.   

Jul 27, 2013 03:26 PM
Ritu Desai 703-625-4949
Samson Properties - Chantilly, VA
Northern Virginia,Washington DC & Maryland Realtor

Michael, I am like you I don't push people to sign in and/or have refreshment. But cold bottle of water are available for a warm day.

Jul 27, 2013 10:08 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Ritu - I prefer to work with people who want to work with me(and vice-versa) so the sign in sheet isn't important to me.   Cold water on a warm/hot/sweltering day is always welcome.  Thanks for stopping by and commenting.  

Jul 27, 2013 11:47 PM