That title sounds like I have some great,bad and HORRIBLE stories to share about Open Houses...sorry for the mislead!! I do not!!! I just liked the title!! ;)
I remember when I was in training at my first Real Estate company which was RE/MAX, I went through their training program, Fast Track, and learned all about holding Open Houses and their importance to my business. The instructor had us all "attend" 10 Open Houses before the end of classes so many weeks later. I went to them, walked around, asked questions and filled out my papers, which I had to turn into the instructor. I can remember as a new agent thinking how exciting to hold open houses for other Realtors until I had listings of my own! I remember how excited I was waiting for my first open house! Oh my goodness, all the potential clients I would meet! All the leads I would get! I was all set to get all of their pertinent information so that I could get them on my mailing list to receive my newsletter and I could cultivate them into becoming my clients.
I had so many ideas! I was going to build me a HUGE list of leads with whom I would have many transactions with! Exciting stuff!!
Hmmm...ya know, it never quite happened the way I imagined it would. I held the open houses, at first for other Realtors, then for my own listings. Ya know, you think, put up the sign and they will come, right? Wrong! I think out of all of the open houses I held that first year in Real Estate I had, maybe 3 that I would consider successful. I have gotten a couple of good buyers leads and that is it.
ONE of these Open Houses was very successful. I sold the listing 2 weeks later to someone that attended and because of the timing I was able to close the house that my sellers were moving into on the same day. And the house that they bought was a upgrade of over $200,000. That was good. But it was ONE ( well 3).
I am just wondering if this constitutes a feeling that Open Houses are a good business move? I wonder if it is as great as the instructor made it out to be? I mean, as I recall, she said it would be much more lucrative then this.
Maybe I am doing something wrong?