Question Details

Heather Wrig…, Real Estate Pro in 97031

I am hoping sombody will share their secrets! I want to hold open houses but have never had any luck! Any ideas on how to make it more successful?

Asked by Heather Wright, 97031 Sat Feb 26, 2011

I feel like I have tried a lot of different things but just nothing. I hate to ask my sellers to clean up their house to make it sparkle and leave for a few hours only to tell them I had nobody through! Please share! Thank you!

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Hi Heather,
Keller Williams actually has a systematic way of holding open houses which they discuss in the "Shift" book (page 71). They call them "seven level open houses". I sold approximately 5 homes off the open house. hear is a rough summary. Each level is a collaboration of the previous level before so when you get to seven you are doing level 1 through level seven activities.
level One: Open house sign and traditional paper ad
level two: Signs on at least 1/4 mile perimeter streets and pass out flyers on the street to neighbors, balloons and riders w open sat or sunday
level three: Door knock the night before, prepare comps and active info to hand out
level four: door knock the sub area at least 4 to 6 blocks around the listing and invite neighbors to preview, send text messages and email to your sphere, use directional arrows
level five: advertise in OH directory in local paper, place internet ads a week in advance
level six::send evites and use facebook events calender which sends things to outlook calenders
level seven: do multiple open house friday, saturday, sunday or progressive open houses
bonus round use QR codes on your flyers that advertise the home website w OH dates, Use GEO tagging on a smart phone and tell the internet how to find your open house (take a picture of the house and turn geo tagging feature on your blackberry or iphone!
This is from notes and memory. See shift for exact instructions!

gloria commiso
1 vote Thank Flag Link Sat Feb 26, 2011
Good Afternoon Heather;
You may want to check your area, but the return on open houses is very low....somewhere around 2 to 3 percent. In all my years I've never closed an open house. I did however get possible future buyers for other homes.
Web Reference: http://www.321property.com
1 vote Thank Flag Link Sat Feb 26, 2011
When we do open houses it is well promoted for that property HOWEVER never a buyer ever purchase home just "tire kickers" just wanting see what home looked like on interior We averaged approx. 30 families for each open house

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon Feb 28, 2011
Heather, there is lots of advise offered here. Let me add a few more components that must be considered.
#1. Not all properties are open house material. (2T, top 20, scarcity, confirmation)
#2. What is the purpose of the open house?

Without truly understanding #2, you are simply having a reflexive open house and unlikely to derive anything beneficial to you from the exercise. Many will say a successful open house is one that produces a purchase offer. If you limit your open house goals with this microscopic definition, you will be one of those agents bringing along a book or lunch or even paperwork to do. Don't let this be you.

Anticipate who is going to attend? What are the questions they are carrying across the threshold? What value can you represent to each of these groups? Finally, what do you need to know that you are uncertain about concerning the local active real estate consumer today? This is your rare opportunity to gather you own data rather than accept a 'marketers' evaluation of what you need to buy.

Repeating- if #1 (selection) and #2 (purpose) are not well understood, I don't care how many QR codes or signs you place, the open house simply can not be the gold mine it could be for you.
.
Annette Lawrence
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
Web Reference: http://www.MyDunedin.com
0 votes Thank Flag Link Mon Feb 28, 2011
Craigslist
your local MLS
Realtor.com
the paper
8 directional signs
Balloons on the signs
Inviting curb appeal
Lights on
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Food will just attract the freeloaders.
Do you really want to attract people who want to use your services and time for free?
0 votes Thank Flag Link Sun Feb 27, 2011
I have to say Gloria has taken what my advice would have been and put some Ermeril Lagasse into it, "Bam"!
But one thought that might be helpful. When you are knocking doors and informing the neighborhood with flyers...you should multi-task. On postcards or flyers that you utilize as a flyer for the event, include a reference that might find you a buyer. Right now with all the references being that it is more affordable to buy than rent, get that information out if it relates to the individual listing you are soliciting. Or, look into first time homebuyer programs that are currently available in Portland and entice someone to come by so they can recieve additional information. At the very least, use some of the literature that NAR has put out regarding the positive aspects of homeownership, you will then be tying into a national campaign that will help set triggers of reference when they hear a radio ad or see a television commercial.

Best of Luck, and I'm stealing some of Gloria's ideas to implement in Florida's Open House weekend which our State Association helps to promote...(March 26th & 27th).
0 votes Thank Flag Link Sun Feb 27, 2011
I have not held an open house, in years. How about having a broker tour? Invite other Brokers to bring their agents through the property. You can find a local banker or someone on your vendor list, to be present at the property with you. They often help with the cost of refreshments for the agents. Food always attracts Realtors! LOL!

Here's the bonus. You have a list of questions for each agent to fill out. You ask what they think of the home, the price, location, if they have buyers in this price range etc. Then, you have instant feedback for your Seller. You can make the form, anonymous, so that, you can offer the Seller a copy of the comments. Seeing the comments, in black and white, does make the Seller pay more attention to what you need to do. Sell the house.
Sharing the Good Life,

Fran, Ct Broker~Mentor
0 votes Thank Flag Link Sun Feb 27, 2011
Hi Heather,
You really have no control over how many people or if any will show up at your open house & your sellers should be greatful for your efforts no matter what. If you have a poor turnout that would definitely be good amunition to justify a price adjustment. I find that if a home is priced competitively the buyers will come. Before the open house make sure you promote it to local agents as well as the public through e-vites,internet, advertise on all of the realtor websites & MLS, make sure you put up a lot of signs w/ baloons,& advertise it in local newspapers with easy directions to the home .
0 votes Thank Flag Link Sun Feb 27, 2011
Heather,
I've had good success with open houses the past few years and am happy to share a few ideas you might try. First I publish my opens as early as possible on my MLS. This feeds the schedule to lots of other sites that home buyers look at. Relying on signs alone really brings mixed results.
Next, not all homes are ideally located for open house success. Popular neighborhoods can draw in 10 times the traffic of an out of the way spot. If you are holding your own listings open, you take them where you find them. If you are looking for the best result, ask another agent who has a listing in a popular area if you can hold it open for them. Arrive early and get to know the house well. I present my homes much better than cold listings, I know them how the owners live in and enjoy the homes and I pass this enthusiasm on to buyers.
Finally, start out as informative about the home, the neighborhood and greater community. Allow those who come through to relax and take in information without selling yourself too overtly. Once you have built rapport and gain a sense of what they may be looking for, have a list of homes or your laptop available to tell them about other possible matches to their criteria.
Good luck this weekend.
0 votes Thank Flag Link Sat Feb 26, 2011
I have sold as a result of Open Houses. In one case I had a listing that was not showing but held and open house every week. It was in a country town on a country road. I had 5 offers total. I do not think had I not had open houses I would have sold that house as quickly. Another agent in my office sold from an open house. It was just what they were looking for. I believe in open houses. Some agents send buyers to open houses and then they go back to see it a second time which leads to an offer hopefully. good luck.
0 votes Thank Flag Link Sat Feb 26, 2011
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