If you ask agents why they invest their time in open house activities, they’ll most likely answer “to get buyers” or “to please my sellers.”
While both of these answers have validity, one of the most powerful reasons to hold an open house is to BRAND yourself in the area where the property is located.
Your goal should be to become the area expert where the property is located. In order to begin positioning your brand, you need to be prepared with a series of steps that will create awareness of your expertise. Here are several tips to make your next open house a profit center!
- Begin with the premise that people have 3 reasons to look at a property: they are a potential buyer, they are a seller or they are simply checking out the competition. The best outcome would be selling the property you are holding open, but the statistics indicate that an actual buy does not occur all that often. Be prepared for each of these scenarios so that your encounter engages you with a new buyer or a prospective seller.
- Preparation starts at least 2-3 days before the event. Create a thorough checklist of items you will need to make the open house run smoothly and professionally. Include the usual items, like open house signs, directionals, flags, welcome packets, sign in sheets and more.
- Send your personal invitation to the immediate houses surrounding the open house to attend the “pre-public” inspection. Statistically, the houses within the immediate area are most likely to produce either a new buyer lead or a prospective listing.
- Ask face-to-face permission from the homeowner that allows you to put up your directional in their yard. It’s a great way to meet the homeowner and introduce yourself.
- Handwritten “Thank you” notes are absolutely the next step to send to all after the showings. Include the seller, the neighbors and the prospects that walked through the property.
Don’t waste your time and efforts babysitting a property! Invest in the opportunity to become the neighborhood go-to and rock star agent so buyers and sellers come to you for all of their real estate needs.
What is your favorite open house strategy? Share it below!