6 Foolproof Steps to an Open House Blowout
#1. Property Selection
Much of the success of an open house lies in the subject itself – the property. The home must be good-looking, and have curb appeal. Pick a home through a buyer’s eyes. Pick a home that they would want to take time and walk into. Good location is key – you may have found the most desirable property in the area, but if it is located 10 miles away from the populated part of town, no one will show up. Aim for a price range that is slightly above than what you want to work with. Most buyers are going to look around at homes over their budget before they realize that they need to settle for something a little cheaper.
#2. Schedule it Right
Timing is everything. Most people work during the week until the evening. If you want them to actually attend your open house, make sure you pick a time when they are able to go. Weekends are ideal, although I’ve seen plenty of success with evening open houses during the week. You should try to schedule at least a week in advance to give you enough time to market it well.
Signs will direct the vast majority of the visitors to your open house. Therefore, their placement is critical. Make sure you start placing signs from the nearest main road. Place a directional sign with an arrow pointing in the direction people need to turn to get to the property. Drive on the route to the home and place signs at every turn that people need to make, all the way to the property location. Place an “open house” sign in front of the property to let people know they have arrived at the right place. All the sings should have similar color, or have the same theme so that your prospects know which ones to follow in case there are multiple open houses in the area.
#4. Inviting the right people
Most agents are too focused on obtaining new prospects that they let a huge goldmine slip them by – their existing prospects. Be sure to send an invitation to your current prospects that are looking to buy in the same price range as your open house. This also frees up your schedule because it will be one less house to show them in the future. Some of the nearby residents can make the best prospects. You can either send a mail-out invitation for the open house to the nearest 100 or 200 homes, or you can walk the neighborhood before the event and invite the people yourself by knocking on their doors – this is also another excellent prospecting opportunity.
Print out a sufficient quantity of informational sheets or brochures about the property. Make sure YOUR contact info is on them! You also want to have a simple sign-in sheet to capture the contact info for the leads that walk in – after all, that’s what you’re there for. Refreshments are optional – if you choose to bring something, keep it simple. Cookies and water or juice will do just fine. Most importantly, make sure the house looks clean and presentable. This needs to be addressed to the owners and most of the time they will take care of it, since they want their house to sell. However, sometimes you need to do some last minute tidying to get the house looking its best.
#6. Conduct Professionally
This is the easy part. This is you doing what you do best. Be friendly and smile. There is no need to be pushy – you are not trying to sell hair products at a mall. Respect the buyers’ space, and they will respect you. Every buyer is different; trust your instincts about how to handle them. This is your chance to shine and to represent yourself as the best agent on the face of this planet!