Open Houses: The Basics For Realtors

Hosting an open house can be a great opportunity for anyone who wants to have a lot of buyers come out at once. It’s also a great way to showcase inventory, or even to gain new inventory.

Preparing

Preparation is key for those hosting an open house. The last thing you want is to host one and have a small or non-existent attendance. Standing around all day while only one or two people come by kills a lot of time with little gain. This is why we’ve prepared this article detailing what realtors can do to host more successful open houses through advertising and hosting them the most effective way possible.

Clients

For realtors seeking to host more open houses, a great first place to being is with your existing clients. Many potential buyers expect a home to be fully staged for an open house, so ensure that you work with your clients to make preparations to exceed buyer expectations.

Working with Builders

Starting with existing clients is a good idea, but it’s not the only way to find open house opportunities. Many building companies will pair with realtors to host open houses in newly built homes. This can also happen with new subdivisions, giving you access to a large list of inventory and potential customers. Companies often build in existing neighborhoods, meaning there is a high level of built in drive-by traffic that won’t be available in new home divisions. However, either option can lead to great open house opportunities.

Advertising

Hosting an open house in new subdivisions can be hit or miss, but there are ways to maximize the possibility of its success. This is where advertisements come in. There are many ways to advertise an open house. Below are some of the most common:

• On-Site – Advertise in the vicinity of the home where you’ll be hosting the open house. Roadside signs throughout the area and even balloons can point the way to your open house. Just remember to collect the advertising materials once the open house has ended.
• Media – Try advertising using local media, such as in local newspapers and magazines, and maybe even on community bulletin boards. Advertising online is a great way to spread the word about your open house even farther.
• Realtors – It can also be helpful to build a contact list of other local realtors. Sending a quick email blast to other realtors so they can bring their clients is another effective way to increase attendance at your open house.

Collect Contacts

Every time you host an open house, collect the attending realtors’ emails. When you run into a fellow realtor in town, grab their card and ask if you can include them on your mailing listing. Once you have a substantial contact list, you’ll start seeing more attendees from these contacts at your open house events.

Entertaining

Once you get buyers to attend your open house, you’ll need to convert them. There are a variety of options for making your open house attendees feel welcome and comfortable. One of the most common methods is offering refreshments. Offer a variety of options for a variety of tastes. For beverages, consider something tasty like soda and a healthier options, such as gatorade or water bottles. For food, fruit or veggie trays are great to offer alongside sugary foods like cookies or brownies. Having a mix of healthy and sweet options helps make sure that there’s something for everyone.

Designing Pamphlets

Another item to offer at an open house is a pamphlet with a rundown of the basics of the property. This could include information such as the number of beds and bathes, the home’s square footage, extra features, the year the home was built, and so on. You might also include selling points about the local area, such as information on a local historic district or access to a good school district. To really give your pamphlet a professional touch, consult a graphic designer to help take it to the next level of presentation.

For more information about hosting a successful open house as a realtor, contact The Damron Group REALTORS, a real estate agency in San Marcos, TX.

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