How to Host a Successful Open House
One of the most valuable listing strategies is holding Open Houses regularly. It’s a great way to give buyers the opportunity to see the home without the hassle of bothering owners and tenants and interrupting their routine. Most important, it gives you the chance to attract leads.
Before your Open House
The first step to guarantee the success of your Open House is to check what are the local regulations and the association’s regulations to make sure they are permitted and that you are allowed to place street signs.
Next, you might want to request the help of some of your colleagues from your team or brokerage. Some areas will have great traffic and you might have your hands full answering questions and giving tours of the property. If you are going to spend time and money, you want to make sure you don’t miss any visitors. Depending on the size and the budget of the property, you might need 1-3 agents there. You may also want to invite your preferred mortgage broker or loan officer that can answer financing questions.
Once you have your team in place, create a document with the most important features of the home in bullet point form. The MLS will have the key information, but you’ll want to add any features that you want your team to mention to possible buyers. Important details will include special home features (new roof, heated pool, solar panels, etc) location information (nearby schools & ratings, shops, distance to landmarks, public transportation, etc.) and any other feature that separates it from the rest.
Coordinate with the owner or tenant on a convenient day for everyone. Take into consideration that in some neighborhoods, the best day for an Open House is Sunday afternoon. Once the day has been set, begin advertising it on the MLS, on your social media or send an email blast to your contacts. Some websites like zillow.com and realtor.com will also let you add open house notices to your listings.
The day before the open house, make sure to pack all the essentials such as business cards, signs, balloons, snacks, water, sign in sheets, comps, any anything else that will help direct traffic to the property. Be sure to check the weather as this will be a major factor in the traffic to your Open House.
Day of Open House
On the day of the Open House, be there early, it will let you move furniture around, move any personal items such as pictures from the main entrance, and make sure the overall cleanliness and aesthetics of the property have been taken care of. This might also give you a chance to go over any details with the seller, give them feedback on recent showings or receive instructions on how to operate equipment around the house. Split setup tasks with your colleagues; one person should be setting up signs on visible roads while the others setup inside sign in sheets, information packages, comparable reports, and any other literature you may need.
Make sure to greet every potential buyer, and ask them to sign-in. Your sign-in sheet should include space for an accompanying agent, it will be helpful for getting feedback later on. Mention those important features of the home and its location to make it stand out. For unaccompanied leads, try to get as much information you can about their particular search; if the open house does not match their needs, you might have other properties that you can offer them.
Take pictures, make videos and post them to your social media. Invite people to pass by, if they didn’t catch your invitation on the days prior, they might see it on your Instagram and show up. This is also a great way to show off your listing skills and promote your business.
Try to get immediate feedback, ask other agents if they believe the property price is fair, this will give you insight into your target audience. Don’t be afraid to ask if they are planning on sending an offer.
Post Open House
After the Open House is done, make sure to put all furniture and personal items back in their place. Check that all equipment has been turned off. Remember that Open Houses are a great way to promote your listing and get more leads, so be sure to leave everything as you found it so that you may be invited to host more at the property. If possible and available, give immediate feedback to you client, mention any comments or suggestions made by the attendees. On the days following the Open House, follow up with the attendees and their agents. Ask for more feedback and prepare a brief report so you can send it to your client.