10 Strategies for a Better Open House
- Ali Spicer
- Jun 2, 2018
- 3 min read
There is much debate over the best way to conduct an open house. One agent says you ought to tour the property with prospects and the next says to just speak with them at the beginning and end. The bottom line is that the only surefire way to make an open house work for you is to work the open house.
What if you're already doing open houses consistently and not seeing the results you'd like? Before you go throwing the baby out with the bathwater, ("Open houses just don't work!" Have you ever heard that whiners battle cry?) maybe it's time to step things up a bit.
Here are 10 strategies for a better open house. This is not a step by step guide, but rather tips and ideas to set you apart, shake up your routine, and level up your open house game. These can also be used as a jumping off point to spark your creativity to generate your own unique open house success system.
A note on new ideas: Those that have experienced success in the real estate industry for any length of time know the name of the game is always Consistency. Implement just one or two new ideas, and stick with them for a length of time. Find a way to measure their success. The backbone will always be to continue holding top notch open houses on a consistent basis. Then pepper in better strategies, stick with them, and measure their success over time. Eventually you'll have a rock solid system that is unique to you, with proven results behind it.
Schedule the open house for the day a home hits the market In a market where homes are selling quickly, this could be a great opportunity to generate buzz for the property AND meet several eager buyers who have already seen everything else on the market that fits their needs and budget.
Try a weekday lunch hour You’ll have far less competition and catch the buyers that don’t keep traditional hours.
Skip the handouts with additional info beyond the subject property Give yourself an opportunity to send your customer additional information directly to their email address.
Provide a promotional item / item of value What if you were handing out an item of value that was memorable, useful and potential clients (because, of course, that's what everyone that enters your open house is) absolutely loved? Would your name start to generate instant recognition in your community? Don’t have any promotional item ideas? Here are some to get you started.
Go live You can tour the property live on Facebook, especially if it’s a unique property or has special features. Or, instead of waiting for your open house, go live from the property where you will be doing a future open house. Give viewers “exclusive early access to a view a property that won’t last long in today’s market!” If you share what’s unique about the property on Thursday, you can invite everyone to come see it in person on Saturday, for example.
Send the video to prospective buyers / attendees Did you go live at your open house? Save the video, and send it to prospects considering the property. This is a great way to keep the property (and you) top of mind, and stay in touch in a unique way.
Do a raffle If you have a property that you know will generate a lot of traffic, do a raffle. This is a great way to obtain contact information from attendees and gives you a unique opportunity/reason to follow up with each.
Offer content Create an article or ebook that prospects will definitely want to get their hands on. Do you have "10 Strategies for Buying a Home in a Competitive Market," or "7 Places You Must Visit If You Love XYZ Community"? Offer to send the info free of charge directly to prospects immediately.
Welcome visitors at the door If you keep the door locked, guests will have to knock. You’re not guaranteed to speak to everyone this way, but it does give you a chance to give a friendly welcome and provide any information or materials you’d like for them to have.
Bring your lender You and your lender can work the event together and provide double the education and professional resources.
Fine Point Transaction Management LLC is an Idaho based real estate transaction management company. We believe strong businesses are the foundation of strong communities. We exist to support local real estate agents who desire to build strong businesses through time-leverage.
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