Becoming a real estate open house master is about more than just showing homes around. You also need to showcase your expertise, build relationships, and market effectively. Whether you're an experienced real estate agent or new to the industry, this comprehensive guide will help you host a successful open house and establish yourself as an expert in your local area.
Choose the perfect property
Start by choosing the perfect property for your open house. What area do you want to focus on? Where do you want to get your name and brand noticed?
Choose a house:
If you don't have your own listings or want to focus on becoming a local expert, choose properties that are easily accessible, affordable, and have strong online visibility. These factors will help you attract more visitors and build a reputation in the area.
Survey the area:
Get to know the neighborhood inside and out. Become familiar with ongoing and upcoming development projects, local amenities like parks, restaurants and shopping centers, and planned expansions and infrastructure improvements. Armed with this knowledge, you'll be able to answer any questions potential buyers may have and position yourself as an expert on the area.
Communication network:
Engage with local agents in your area or office. Ask detailed questions to understand the unique selling points of these properties and get information about upcoming properties. Building rapport with other agents will increase your chances of showing their properties and speaking to potential buyers/sellers for your current and upcoming properties.
Open House Preparation
Create an information packet:
Buyer/Seller Brochures Property Detail Flyer Upgrade Sheets Upcoming local event information Neighborhood Reports and Area Statistics Buyer's Agent Brochure Your Resume
Know your market:
Be aware of current listings and recent sales in the area. Be prepared to compare your property and highlight its unique features. Touring current and upcoming listings will help you become more informed and educated than today's savvy buyers. For example, explain why a nearby home sold for less (perhaps because it had power lines in the backyard).
Plan your signage:
Don't rely solely on GPS. Scout the area beforehand to determine the best locations to place the most visible signs. Signs should be clearly and strategically placed at busy intersections and near local amenities.
Pro tip: Print out a map of the area and mark in advance where you've placed or plan to place each sign. This will make it easier to collect all of your signs after the open house and make sure none are missed.
Invite guests:
Why host a party and not send out invites to your friends? Use social media to let qualified buyers in your database know about your upcoming home and invite them to visit your neighbors and take a peek inside. Inviting neighbors gives you the opportunity to meet potential sellers and expands the reach of your open house (everyone has friends they wish lived nearby).
Open House Day
Please come early:
Arrive early and prepare the house: turn on all the lights, have your marketing materials ready, play some light music through a Bluetooth speaker and create a welcoming atmosphere.
Place a sign:
After you've staged your home, go outside and put up your sign so you're not scrambling to get your home ready when potential buyers arrive.
Stay positive:
Focus on positive statements and achieving success. People are attracted to a positive attitude and confidence, so your energy will attract buyers and they will feel that energy when they enter your home. There's nothing worse than attending an open house and feeling like you're a burden to the agent while asking questions.
Open House Experience
Warm greetings:
Greet each visitor warmly, introduce yourself, and mention the home's outstanding features, such as, “Don't miss our spa-like bathrooms.”
Spending time in the kitchen:
Everyone will be checking out the kitchen and naturally gravitating towards it, so be sure to answer any questions without being pushy – use this opportunity to have casual conversation and gather information about your home-buying needs.
Engage naturally:
Ask questions like, “What did you think of the spa-like bathroom?”, “Don't you think the tile in the bathroom is beautiful?”, “Are you planning on touring any other properties today?” This approach allows you to gather insights without making your visitors feel pressured.
follow up:
I don't ask people to sign in. Instead, I take the opportunity to answer their questions and get their contact details to follow up if I need to send them any additional information. However, many agents will ask for a sign in or a quick exchange of information for a prize draw so they can follow up. Follow what feels most natural to you.
Update Seller:
Before you leave the property, inform the seller or real estate agent about the open house activity – they will want to hear about potential buyers and their feedback.
Open House Posts
follow up:
Follow up with buyers who want more information and ask if they can be added to your mailing list.
Update your CRM:
Update your CRM/database to set who is allowed to be added to your mailing/email list.
Send a handwritten note:
If your neighbor comes by and shares their name or where they live, find out their address and send them a handwritten note, such as, “It was nice to meet you. Thank you for stopping by.”
Consistency is key
Success in real estate doesn't come quickly. It's all about consistency and persistence. This is especially true when it comes to open houses. Think of it like farming: consistent effort pays off over time. Establish yourself as the go-to expert in your area by hosting consistent open houses. Consistently having a sign on a street corner will help you get noticed.
An open house is a powerful marketing opportunity. Remember that every visitor is a potential buyer or seller, and whether they know it or not, they are interviewing you. Showcasing your expertise, building relationships, and marketing effectively can make you a master of the real estate open house.
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