It’s no secret among realtors that the effectiveness of open houses, when selling a home, is a subject of much debate. The truth is it varies by region, but the average number of people who find their home via yard signs and open houses is about 10 to 15 percent, according to a report by the National Association of Realtors. While that’s not a huge number, it is significant. And, let’s face it: Any exposure to potential buyers is a good idea. Here are some tips for a successful open house!
1. Market the Event
If you want traffic, you have to let people know about the event. Here are some ideas for marketing your open house:
Time your open house to be held at the same time as a community event, or another open house. Having multiple homes in the area held open will attract more traffic.
Don’t underestimate the power of old school door hangers. The neighbors want to see inside the listing, also, and putting some hangers on homes of adjoining neighborhood may attract families and friends of nearby residents.
Dare to be different. Hold your open house on an evening during the week, advertise cartoons on the big screen for kids, hold it during a football game and turn it into an open tailgate party. The key is to make it memorable and interesting.
2. Educate the Sellers
Make sure your sellers understand the positives and negatives of having their home held open. Share data and experiences with them so they don’t have false expectations. Set the expectations up front.
3. Let the Neighbors be Nosy
Believe it or not, the nosy neighbors can help sell a home. It never hurts to impress the neighbors and have them spread the news of the “gorgeous new kitchen” in the home next door.
4. Hide the Valuables
All valuables and prescription drugs should be safely tucked away for the duration that the home is listed, especially during open houses. Prescription drugs are highly targeted by theives who enter an open house to size it up for later or to steal at the moment.
5. Collect Contact Info
Make it easy for visitors to sign in to the open house. “Registering” or signing in gives you a way to add contacts to your database as well as follow up with interested visitors. Registrations can be done with something as simple as a piece of paper on a clipboard, or as cool and techy as an iPad app.