The real estate market was valued at $7 trillion in 2022, but not every agent gets a significant slice of the money pie. Around 87% of real estate agents fail to get leads that turn into sales.
To ensure this doesn’t happen to you, you must take your marketing strategies to the next level. One of the best ways to do this is to host a successful open house.
Table of contents
- First, Why Host an Open House?
- How to Make Your Open House a Roaring Success: A Guide to Best Practices and What You Should Avoid
- Do: Promote the Open House Through Various Channels
- Do: Set Up A Schedule with Buyers in Mind
- Do: Post a Detailed Property Description
- Do: Prepare the House in Advance
- Don’t: Neglect the Exterior
- Do: Stage the Property
- Do: Be Available to Answer Questions
- Don’t: Overprice the House
- Do: Make the Seller Scarce
- Don’t: Forget to Follow Up
- Do: Use Professional Photos
- Wrapping Up
First, Why Host an Open House?
An estimated 45% of buyers use open houses as a starting point for their purchasing journey. They can see all the features of the house in person and keep an eye out for any drawbacks.
For realtors, this is a fantastic opportunity for one-on-one conversation. Many feel they can host an open house with their eyes closed, but the truth is, it’s hard work.
Fortunately, all the effort pays off. When sellers host open houses, they can get up to $9,046 more than those who don’t. These listings also spend an average of seven days less on the market.
So, holding an open house has proven to be an excellent—even necessary—marketing tool for chinneck shaw estate agents. Such an event will give you the leads you need to significantly increase your chances of making a sale.
How to Make Your Open House a Roaring Success: A Guide to Best Practices and What You Should Avoid
Are you thinking of hosting an open house? Here are some dos and don’ts that will ensure the right prospects see your home and it stays top of mind for weeks.
Do: Promote the Open House Through Various Channels
To get people through the doors, they should know about the open house. Promote it on various channels, wherever your prospects are active.
Here are some of the best platforms to get traction:
- Social media, through posts and paid ads
- Advertising hotspots like Craigslist, Zillow, and realtor.com
- Email newsletters
- Mail out postcards
- Lawn signs
It would also pay to go traditional: flyers.
Flyers are a creative way to attract the attention of prospects. Designing them is easier than ever with PosterMyWall’s open house flyer templates that will help you spread the word about the upcoming event.
Do: Set Up A Schedule with Buyers in Mind
Schedule the event when most potential buyers are off work and don’t have to pick up their kids from school. Look to the weekends—particularly afternoons—for the best opportunities.
While we’re on the subject, ensure the dates don’t clash with a holiday or sports events, as that’s a surefire way of getting a poor turnout.
Do: Post a Detailed Property Description
By posting a detailed description of the house you’re selling, you will attract potential buyers who like it enough to see it in person. This can substantially increase your chances of making a sale.
The description should include these details:
- Address
- Asking price
- Important house features – focus on the little details that entice prospects to come to the open house
- Description of the house, such as square footage and features (how many beds, baths, and so on)
- When the house was built
- Information about recent updates, especially if they’re energy-saving
- High-quality photos that show off the home to the greatest advantage
Include information about nearby landmarks so prospects can easily find the house.
Do: Prepare the House in Advance
Most buyers can’t see beyond stained carpets, overflowing trash cans, and dirty laundry, which can have an impact on value.
Advise the seller to do a deep clean before the open house. They should clear it of all clutter and organize the cabinets and drawers to make it look as visually appealing as possible and more spacious than it is.
Don’t: Neglect the Exterior
Did you notice that the first picture of any home advert is a front shot of the property?
It is so for a reason.
The house’s exterior can make or break the prospects’ first impression of it. To ensure it doesn’t impact the sale, advise the seller to do the following:
- Trim and edge the hedges and trees
- Mow the lawn
- Clean the front yard of all fallen twigs and leaves
- Wash the windows
- Plant or install flower boxes or hanging planters to brighten up the space
- Power wash the exterior (sidewalk, patio, and porch) to elevate curb appeal
Do: Stage the Property
Staging shows off the best features of your property, which can lead to higher offers.
So, once the house is spotless with a lived-in look, work on staging the property by:
- Adding flowers and fragrances to make it look and smell fresh and inviting
- Opening curtains and turning on all lights to make the home appear brighter
- Arranging the furniture to give rooms a single, defined purpose
It would also help to depersonalize the space. Ask the seller to put their most personal belongings in storage to give potential buyers a blank canvas. This way, they can easily envision themselves living in the house.
Do: Be Available to Answer Questions
Buyers will ask many questions to cover all their bases. Your job is to ensure they’re comfortable enough to do so and answer all of their inquiries.
Your presence will be greatly appreciated throughout the event, but don’t hover, as it could deter potential buyers from exploring the property to their heart’s content.
Don’t: Overprice the House
Before you put a house on the market, do a market analysis to determine how much it will fetch. Of course, you must add a certain margin for profit but don’t overdo it. Overpricing will discourage prospects from putting in an offer.
Do: Make the Seller Scarce
Buyers can’t picture themselves in a house or inspect it thoroughly if the buyer is lurking over their shoulder. The property is the main event, so it’s best if the seller and their family are out of the house. Extend the courtesy to pets as well.
They can all come back home once the open house is over, and hopefully, you can celebrate a sale!
Don’t: Forget to Follow Up
Here’s a big mistake most realtors make. They think that as soon as the last prospect walks out the door, they’re done. But it doesn’t work that way.
If you want your open house to be a success and to court potential leads, you must follow up with the attendees. Do this 24 to 48 hours after the event, when the features of the property are still fresh in their minds, and they are likely considering the pros and cons of what they have seen.
Do: Use Professional Photos
Advertising on social media? Invest in high-quality images and videos for a 42% higher click-through rate.
We also suggest taking things to the next level with eye-catching social media graphics. PosterMyWall offers an impressive collection of templates you can use on various social media platforms, so you’ll have plenty of opportunities to give prospects a good impression of the house.
Wrapping Up
By implementing these dos and don’ts in your open house strategy, you can attract prospects that may become buyers. With these simple tips, you’ll be an open house pro in no time.