If you have been holding open houses and not getting the response you desire, you might be doing them wrong. There are plenty of agents who hold open houses regularly and who experience great success. This tells me that open houses are a viable way to meet buyers and sellers.
There are many ways to hold open houses. In addition, there are a lot of great tips and tricks to maximizing your success. Here are three simple tips to follow:
- Have something for the kids. My wife and I recently went house hunting and took our two boys along. I was reminded how opinionated they can be and how influential they are when it comes to selecting a house. That is why you should not forget the kids that come through your open houses. You may want to consider a toy chest full of dollar items for them to pick from (avoid paint, markers, and crayons). You can also consider branded items, such as coloring books, frisbees, and other toys. The kids won’t forget you and the parents will appreciate the gesture. Make sure to stay away from food.
- Consider wedding style invitations to invite the neighbors. The goal of every open house should be to attract the neighbors. You never know who might be looking to sell soon. Print your message on this type of invitation and stuff in the white fancy envelopes that come with the invitations. Then write “Your Invited” with a silver marker and go door-to-door inviting the neighbors. If they don’t answer, leave on their door. They may not attend the open house, but I guarantee they will open the invite. They’ll think they are being invited to an event hosted by someone they know. Make sure to indicate on the invitation that they can schedule a private showing with you.
- Use RPR to provide instant home valuations. Print a full seller’s report in color and put in a 3-ring binder. Keep that binder next to your laptop with RPR opened and ready to go. You now can offer neighbors (or anyone looking to sell) and instant valuation on their house. Create a mini report with their name on it and offer to email it to them. By this time, you will have collected their name, address, and email address. Also, show them the full seller’s report on the counter and offer to create one for their house. Go over the features included in the seller’s report. However, do not offer to email it. Instead, try to make an appointment to present the report to them. Also, make sure to get their phone number. This is a tremendous tactic to setting appointments and gathering personal information.
Don’t stop holding open houses due to a lack of success. Simply find a better way to do them. Other agents are experiencing great success, you can too.
For more great tips to enhancing your real estate business, order my new book, 21 Habits of the Highly Successful Real Estate Entrepreneur.
By Mike Weinstein, MBA