5 Keys to a Successful Open House

By
Real Estate Agent with E*Rae Real Estate Group- Powered by eXp Realty LLC 651873

1. Know the Home

It’s important to have a thorough understanding of the home you will be holding open.  Often times, REALTORS hold other agent’s listings open in order to find new clients to work with.  It’s important to know the house you will be holding open before the open house.  First, do your due-diligence on the property online.  Get copies of all of the important disclosures, surveys, documents etc. and review these.  Then, go preview the home.  Make sure it’s in good show-worthy condition, and make mental note of the pros and cons of this property. Think of common buyer questions, “How many sqft is this home?”, “Is this property in the floodplain?” and know the answers by heart. It’s also a good idea to pull up recent sales in the area, and know of other available homes that may be a good fit.

 

2.  Market The Open House

If you skip this step, your open house may be a complete bust.  Most importantly, make sure that the open house date is entered in the MLS.  This data is syndicated to a number of other sites, and is how 90% of buyers attending open houses are finding them these days.  I also encourage doing a low-budget targeted Facebook ad advertising the open house to prospective buyers in the area.  You can run a $20 dollar ad for a few days prior to the open house targeting people who Facebook has identified as likely to move. Also, post the open house on your own Facebook wall, and Facebook business page. Put up signs, and add balloons if you would like.  Balloons can be tricky, a plastic bag to put them in usually eliminates a few lost balloons.

 

3. Walk the Neighborhood

The day before, or the day of the open house, walk the neighborhood.  I make flyers for this, and knock on neighbor’s doors.  I tell them about the open house, and tell them to send over anyone they know who may want to move to the area, or just stop by if they’re curious about the home.  This is a great way to identify home owners in the neighborhood who may want to sell soon too.

 

4.  Build Relationships

When someone enters the open house, greet them warmly, and ask them to please sign in.  You want to get their contact information.  If they have any hesitations about this just state that the homeowners require it. Give them some space as they explore the home, but be close enough to answer questions.  For example, when a couple is looking around a room, I stay in the door way.  Answer questions and try to form a bond with this person.  Latch on to common interests, and look for opportunities to provide value.  I never have flyers at the open house.  This is tactical, I want their contact info so I can email them relevant information, and stay in touch.

 

5.  Follow Up

This is where 90% of agents fail with open houses.  You have to follow up with attendees.  The day of the open house, send out an email thanking them for stopping by and attach an e-flyer on the home. Send any other relevant information or answers to questions you couldn’t answer in person as quickly as possible.  The following day, call and ask them if they received the info, and if they have any other questions.  If they don’t answer, you can text them.  Continue to follow up and send other properties you think may interest them.  Keep in contact in order to secure a new client.  

Posted by

 

Erika Albert
Austin Real Estate Agent
m: 512-779-7597
a: 9600 Great Hills Trail Suite 150W, Austin, TX, 78759
w: shesellsaustin.com  e: e@eraerealty.com
      

 

 

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Debbie Reynolds 02/19/2018 06:00 AM
  2. Gabe Sanders 02/26/2018 11:45 PM
Topic:
Real Estate Best Practices
Tags:
open house
hosting an open house
austin open house
tips to host open house

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Rainmaker
528,032
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Hi Erika Rae Albert, Austin Real Estate Expert all very good suggestions on holding a successful open house.. and follow up is critical.  

Feb 11, 2018 05:13 PM #1
Rainmaker
1,051,585
Michele Cadogan
Fillmore Real Estate Brooklyn New York - Brooklyn, NY
917-861-9166 - Brooklyn Real Estate Home Sales

Thanks    for sharing these tips regarding hosting a successful open house- bookmarked to share with new agents.

Feb 11, 2018 05:27 PM #2
Rainmaker
260,104
Matthew Klinowski, PA
Downing-Frye - Naples, FL
Golf Community Real Estate Expert

Hi Erika, great tips to keep in mind if you are doing an open house.  Appreciate you taking the time to share.  Have a good Monday.

Feb 12, 2018 04:37 AM #3
Rainer
51,608
Deborah Spence
Home Smart Realty Advisors - Philadelphia, PA
Awesome Realtor serving Philadelphia and suburbs!

Great post! Especially the follow up part, very important. I send out a thank you card to everyone who attends.

Feb 14, 2018 02:03 AM #4
Rainmaker
76,041
Karen Simms
Century 21 Arizona Foothills - Queen Creek, AZ
Horse Property Specialist

The follow-up is so important.

Thanks for sharing.

Feb 15, 2018 10:17 PM #5
Rainmaker
335,547
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

All great tips.

I am glad you started with Know the House.

Some properties are not Open House worthy and should be avoided.

Feb 16, 2018 06:49 AM #6
Rainer
383,803
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

Great list and you are so right about the last step being the one that often gets overlooked.  Follow up is the key.

Feb 16, 2018 09:10 AM #7
Rainmaker
435,754
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

Point # 5 is very important. I always drop a note or email if I get an address.  One time I met prospective sellers at an open, sent them a list of comps--they called me to list their house!  I've done four transactions with them now!

Feb 16, 2018 12:54 PM #8
Rainer
245,830
Ron Aguilar
Continental Mortgage - Saint George, UT
Mortgage & Real Estate Advisor since 1995

I have always been a fan of Open Houses even as a Mortgage lender. This is is one the best ways to meet people if done right. 

Feb 17, 2018 07:41 AM #9
Ambassador
3,628,026
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Hi Erika, This is a wonderful list to follow for doing open houses. Preparation is necessary if you want it to be successful.

Feb 18, 2018 08:17 PM #10
Rainmaker
4,198,872
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks, Erika.  Great tips for anyone wanting to have successful open houses.

Feb 20, 2018 04:44 AM #11
Rainmaker
2,733,116
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Not a door knocker...do sometimes  depending on the house...send invitations to

a premiere opening...!

Feb 27, 2018 12:15 AM #12
Rainmaker
3,386,259
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Erika Rae Albert, Austin Real Estate Expert ,

How did I miss this. Gabe Sanders re-blogged it. You are so right on your tips for an open house. I had 60 people at my open house on Sunday and it didn't happen by accident!

Feb 27, 2018 04:51 AM #13
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