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Open Houses

Hello and welcome to Debbie’s Tips. I was thinking about open house today. I know we’ve maybe talked about it in the past when you’ve gotten together with me, read my blogs, or gone on a webinar, but here’s what came up today. It was more about the basics of open house that, as I was speaking to this great agent that called us enjoying coaching, and this truly is a great agent, they’ve been in the business for maybe 30 plus years. They work in a very high end market and they’re extremely professional. I was asking them though, what are your open houses like? And they said, very, very busy. And I asked, well, how many transactions this year have come from open house? Actually the answer was none. And I said, talk to me about what you’re doing for yourself to ensure that you have a successful open house and maximize the opportunity to get another listing or sale from each open house.

Well here’s what I found out. So the first question I asked was if they did any marketing, any targeted Facebook ads, any going into the community and inviting the neighbors to come in, any pre-marketing to drive more traffic to that open house. And the answer was no. Then the next question I asked was, well, if you’ve got a super special property are you ever reaching out to any of the people in your lead bank or your database, letting them know you’re going to be there and inviting them? And the answer was no. And then I asked, is there any limitation or restriction on the amount of signs that you can have in your community? And they said, no, there is no limitation, there’s no restriction. And I said, okay, good. How many then do you put up? And they said about five.

Well, interestingly enough, many of our top agents across the country who have very successful open houses often put up 30 or more signs around each open house. Now again, you would have to check the restrictions in your community and you can’t break the rules. But if that’s permissible, think about it. You can literally find all the touch points where you can flag them into that neighborhood, all the different entry points. I’m just thinking about the neighborhood, for an example, where I live. There are three main points of entry into that neighborhood, and they’re really far apart. So the traffic going one way would never know about the open house if it wasn’t flagged at every entrance into the community. And then the neighborhood itself is fairly large. So if there’s not enough open house signs in the neighborhood, people will get lost.

And remember, these are like your mini billboards out there in the community. So everywhere people go, all weekend they see your signs. When they’re driving by, all the neighbors inside that community, they see your name. Whether they come into the open house or not, they see your name. So if you don’t like putting up open house signs, which I don’t and I did it for years and I hated every minute of it, you can do what many of our top agents do and hire high school students. Give them your map, tell them where to put them, take them out and teach them. I don’t know what the going rate would be in your area, but a lot of our agents report that they pay around $20 to put them up and $20 to take them down.

Now let’s talk about the time to put them up. It’s actually ideal, whether you’re having it done or you’re doing it yourself, to put them up really early in the morning. That way there’s no traffic, it’s safer, just easier, and it also increases the opportunity that somewhere in the course of that day, the right buyer might just happen to drive by. So what if they drive by at 9:30 in the morning and the open house hasn’t started? That’s fine. You get those signs where you can write on a section with chalk, when the open house begins. Or you can tape on a printed piece of paper that says what time the open house begins. Well, why would I put them up early if people can’t get in the house? You might be wondering. Well, just imagine I’m driving by there at nine o’clock to take my kids to the soccer game. I see the open house sign, I drive by and I think, oh my gosh, I love that house. Well, it’s open today from one to five. You know what? I’m going to make a special point to come back during the open house. So it definitely increases the traffic.

So just think about all this. What are you doing to maximize the amount of bodies that come through that open house? Give yourself the opportunity to pick up at least two quality leads. And you never know, you might even sell the property. All right, have a great day. I’ll talk to you soon.

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