Open houses, with the proper planning, exposure and advertising can be very effective for a few reasons as I will explain below:
The goal is to sell the home. It may not happen the day of the open house. But, you will collect feedback from qualified buyers, new buyers, and neighbors, which may be useful advice in marketing your home and addressing objections. Plus you get maximum exposure from advertising, signs, etc. In my experience, I’ve seen serious buyers, new buyers, neighbors and drive bys. Neighbors give the best feedback and also provide another perspective on the neighborhood. They also may know someone that wants to live in their neighborhood. I like to have a pre open house just for the neighbors a half hour before the public open house.
ADVERTISE– on online websites such as Zillow, Trulia, Redfin and Realtor.com. These are the most popular websites for buyers. Social Media and neighborhood group pages are also effective. The online websites will automatically email buyers a schedule of open houses for the areas that they are searching. Agents have buyers. Email agents directly reminding them about the open house.
PLANNING– Have plenty of color brochures, listing and neighborhood information. It’s also good to have a mortgage broker with you. They can sign the buyers in and speak to them about the mortgage and preapproval process (if they are not preapproved)
SECURITY– Advise Sellers to put their valuables away. At my open houses, buyers are always accompanied through the house. If the house is vacant, always have someone with you. Most homes in my area have cameras.We often have another agent or a mortgage broker signing people in, so no buyer is unattended walking through your home. Make sure you remove all valuable items and not leave items out in the open.
SIGNS– Put plenty of signs out on the main streets and in front of the house.
Get to the house early to ensure home is neat and lights are on. Have all brochures and information, disclosures and sign in sheets out on the counter.
SHOWINGS– It’s important to make the buyer feel welcomed into the home. Many buyers see several homes and while they may forget some parts of the house, they will remember the experience. I greet each person, and inquire about what they are looking for in their future home. give them a package about the home and neighborhood.
Feedback and Follow up!
Getting feedback on the property is an important part of hosting a successful open house for real estate agents because it allows you to have a sense of what potential buyers are seeing and what may require some adjustments.
Make a special note of elements that seem to be of general consensus or common questions that tend to arise, such as permits, pricing, fence lines, etc. Listen to what potential buyers have to say and inquire further into their concerns. If the house is not sold quickly, these things may be good feedback for the seller to address and help the property move faster.