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Open Houses

Learn how to leverage open houses to sell properties, attract potential buyers, and generate referrals in the competitive real estate market. Discover strategies for preparation, staging, and follow-up to maximize success and build client connections.

ehefner
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Open Houses

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  1. Open Houses “The revolving door to dollars”

  2. Why? • To sell the house ? • The odds (250 to 1). Why? • Great American pastime • Readiness • Sometime; Somewhere • Working with other agents • Neighbors; other agents; etc. • To find “present time buyers” and / or sellers / referrals? • Remember ~ Everyone is a potential real estate account!

  3. When ? • Everyday you can unless . . .

  4. How (to select ‘target’) ? • Leverage company inventory • Easy access • You like (enthusiasm sells) • Curb appeal • Well priced • Preferably vacant • Phone • Permission of lister

  5. How (to prepare) ? • Listing Package (from title co.) • Review CMA • Preview comps • Absorption rate • Curb solds • See availables • Learn & remember • Price; Taxes; Year built; builder; schools; square footage; major improvements

  6. Other preparations . . . • Will it be advertised? • Invitations? • Neighbors; friends; clients • Mail neighborhood? • Ordinances governing signage? • Research relevant unknowns? • Comps in other areas?

  7. What (materials needed) ? • Signs • Guest registry • Fact sheets (tailored) • MLS printout of subject & comps • Business Cards • Personal marketing materials • Financial info sheet (from lender) • Info on area---golf; shopping; etc. • Secret tool

  8. D-day (getting there) • Allow enough time • Typical Open-- 1-5 p.m. • Bring stuff to work on • Refreshments? • Signage issues: • Don’t encroach on streets or private property (may need permission) • Ordinances • Parking issues

  9. D-Day (Setting the Stage) • Security Issues: • Valuables; 2-story / 2 agents ? • Lights • Window coverings open • Soft music • Think through an optimal tour • Set-up where you can see & greet

  10. Mindset: Sorting . . . • The attitude • Relaxed, but alert ! • The name game • Guest registry • Asking good questions (non-threatening) • Familiar with area; Where from • Timing (motivation) • Need to sell first • Working with another Realtor

  11. The Tool . . . • Benefits to prospects: • Good exercise • Prioritize (sort) needs • Fast-track to qualified ‘real’ options • They find a great agent! • Benefits to you: • Ice breaker • Fast-track to qualified prospects • You’ve got an apt. with a hot prospect !

  12. Wrapping up . . . • Lights? • Thermostat re-set? • Window coverings? • Security system? • Leave clean • Leave note • Report activity to lister

  13. Follow-up . . . • Send ‘Thank you’ • Work the surveys • If out-of-state--- • email; fax; mail; call • If local--- • schedule showing • Phone follow-up • Reschedule

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