It’s the Spring Selling Season. Time to embrace and maximize your Open Houses to make this spring your most successful selling season ever.
First, the ground rules. Sellers expect their agent to host open houses for their listed home. They may not like the inconvenience of having open houses but they want to know, in fact, what their agent is doing for them to sell their home.
Know that 20% of all buyers going to open houses at all price points are going in order to decide which house they want to buy that very weekend 30% of all buyers going to open houses at the upper-mid to top tier price points are going to decide which house they want to buy that very weekend.
Know too that most buyers are simultaneously soon-to-list sellers. These soon-to-list sellers are coming to see if they like what you’re doing for someone else’s open house and if they like it, chances are they’ll want you represent their house for them. If you don’t know the difference between a buyer only and a soon-to-list seller, ask if they have a home in the neighborhood or area they’re considering selling. They’ll tell you.
Now for the Open House Prospecting Rules:
- Choose the “right” house. First-time and move-up buyers like houses located in proximity to good school districts and good neighborhoods. They also like houses with welcoming, well-maintained curb appeal. Try to avoid homes in gated communities. If you don’t have the “right” house or a listing, borrow one from your colleague or your broker.
- Use directional signs for your Open House so your prospective guests can find the house. Ask permission from the neighbors to post the signs well in advance and make sure to thank them.
- Sponsor and publicize a drawing at the Open House to encourage more people to attend. Partner the drawing with local businesses so those businesses can publicize it too. Have several prizes such as a gift cards for Starbucks, dry cleaning, car wash, dog walking, etc. so you have more winners.
- Announce your Open House in your MLS, Realtor.com, etc.
- Place inexpensive ads for your Open House on Craigslist, Facebook, Instagram, etc.
- Coordinate with other listing agents in the neighborhood. This benefits everyone in terms of turnout and possible partnerships with compatible agents in the future.
- Door-knock in the neighborhood one hour prior to the Open House to invite neighbors and friends for a sneak preview before the public arrives.
- Have a high quality sign-in book for all guests to sign. Make sure to have a sign-in request from the sellers such as The Seller Requests that All Guests Sign In.
- Follow up with ALL leads on the same day as the Open House.
- Follow up with ALL leads relentlessly until those leads either buy or sell with you.
***This topic is highlighted in the new, expanded edition of Harris Rules available now to pre-order via Amazon. Simply click the link below to reserve your copy of Harris Rules. Publication date is June 3, 2019.