As part of your marketing strategy, holding an open house still serves as an effective way to gather buyer interest in your client’s home. Having a successful open house has many benefits, the priority of course, being to sell your clients home, and the second, to strengthen your database. It serves as a great way to build your business database and gain more leads.
Studies from the Field Guide to Quick Real Estate Stats shows that yard signs/open houses were the third largest avenues for buyers to purchase their home.
When creating your strategy you can segment your open house to be marketed toward 3 different groups, holding 3 types of open houses. This includes:
- Real Estate Agents/ Brokers
- General Public
Real Estate Agents/ Brokers
You are able to cater to agents, sending them an email blast about your seller’s home, providing them with exclusivity to visit an open with their buyers. This will ensure your seller’s home is in front of active buyers, highlighting the best features.
There is no one better to advocate for the neighborhood than neighbors who actually live in the area. Neighbors are able to advertise your sellers home to their family, friends and co-workers, generating more interest. Holding an open house for the neighborhood also provides a community feel, which neighbors can appreciate. The leads you can generate from here, would be seller leads. Be sure to segment them separately when you are adding them to your database.
Marketing to the general public would be your third target market, leaving the open house available to anyone, and everyone, who may be interested in purchasing a home. You are able to generate buyer leads from visitors who do not have an agent representing them.
Marketing Your Open House: The 6 Strategies
Of course, regardless of the who your open house is geared towards, there are some different strategies you can incorporate for a successful outcome. Remember, your content and script should be geared towards your audience, however, you can continue to use these marketing strategies for (almost) all 3 groups.
1. Date & Time
According to online forums from Realtors, the best days, as you may know, to hold an open house would be on the weekends between 1pm-4pm. More people are off work, and can visit your open house, driving more traffic to you. Now, there is no average number of visitors to an open house, as plenty of conditions such as location, price, market conditions, weather and more make it difficult to set an average. Another strategy to experiment within your local market, is holding an open house during the week. You can set an open house to be on a Thursday, between 6-8 or 5-7 when people are driving home from work and see your open house sign on busy traffic route.Be sure to monitor your traffic and results, and can also continue to do this on different days of the week with different clients to see what type of success this brings for you.
2. Online Marketing
It’s true, almost 92% of homebuyers begin their search online, so you want to place your seller’s home right where your target market is looking for. In addition to MLS and other websites, you can even promote your open house about 2 weeks in advance. You can either choose Google Adwords to this, selecting specific keywords to have your listing and open house pop up as a search result. You can either send clients to your landing page, where they can download a brochure or feature sheet you have created for the listing, and also add them to your database, or to your website. Your website can also have a lead capturing where visitors can download the brochure and also get subscribed to your email alerts to remind them of this open house. Another option is to promote the open house on Facebook, by creating an ad and promoting it to your specific city/neighborhood, promoting the listing and open house details. Facebook also offers a lead capturing form, which allows you to use the same strategy as a landing page, without having to send the user to a landing page. If you’re unfamiliar how to use the lead capturing form, you can download a free and simple step by step guide on how to capture leads and promote listings on facebook at designationhub.com. Visuals will be a very important part of your online marketing, you need to entice online buyers enough with your post to have them visit your open house. Choosing 5-9 professional photos, along with both the home and features of the neighborhood in an easy to read manner, such as bullet points, will make a large difference in attracting potential buyers.
3. Email Database
You can also send out an email blast to your email database, inviting them to the open house.
Segment your audience and write different slightly different content based on your audience when sending out an email blast. For example, your content to realtors should be different from your email content to your buyers leads. You don’t want to bombard people with email blasts, so you can send 1 email about the listing and open house invitation, and also a reminder email the day before the open house.
4. Calling Your Database
You can also opt to call your database to invite them to the open house. Use this opportunity to touch base with your clients, let them know that you were thinking of them and mention if they are interested, they should stop by. In addition, verify their email address and ask them if they would like to be sent the open house information reminder via email, or to be added to your newsletter subscription to stay updated on your community.
5. Door Knocking
Door knocking is a great way to invite neighbors to your open house. Not only does it provide some exercise, it also gives you a chance to introduce yourself as the listing agent, invite them to the open house and also invite someone they may have in mind who would be interested in joining the neighborhood. Be sure to leave your card and a feature sheet to provide the homeowners as you visit them, so it’s easy for them to reach you.
Using the 20/20/40 strategy, you can send your just listed postcards, along with open houses dates to neighbors 20 homes to the left, 20 homes to the right and 40 homes in front. If you do decide to use this route, be sure to provide plenty of time for marketing, printing and mailing the postcards so you leave enough time for the neighbors to receive it.
Once you are holding an open house, greet visitor by the door and encourage them to take a feature sheet and tour the home. Be available for questions and probe for questions to understand what the buyer is looking for. All feedback is important feedback, so if you hear from a few visitors that there doesn’t seem enough storage space, keep that in mind. Think of different ways the home can be decluttered and organized to making it more visually appealing with regards to space. Have some water and pastries in the kitchen next to where you have set up your ‘station’ to invite others to come to you. In addition, have your tablet or laptop ready to go if potential buyers are looking to sign up to your database or receive more information from you. Again, an open house can yield great results, preparation and strategy, however, will remain as important factors to contributing to its success.