Tuesday, February 26, 2013

Open House Planning

Real Estate Education Training:


Have a Well Planned Open House

"The weather is so delightful" are words from a popular song which means we will see an increase in Open Houses in our neighborhoods.  We should take a few minutes to pull out and organize our signs, banners, directional arrows and other tools for directing traffic to our listing.  We also need to become familiar with the property, cross streets and the neighborhood information. 

We should also pay attention to the start and end time for the Open House.  I cannot count the number of times that a "buyer prospect" arrived at my Open House just a few minutes before the time I thought I would be leaving to retrieve signs and other promotional material from multiple locations.  There were also times when the homeowner would return a bit prior to the Open House close time for a recap of the number of buyer prospects, comments about the home and other topics which we are excited to share.  I always enjoyed providing the "extra mile service" to buyer prospects and home owners.  We realize that this quality time may help our relationship as well.

This meant I had to plan my Open House to allow an extra hour of daylight for the end time.  I found that it was better for me to hold the Open House from 12:00 - 3:00 pm or 1:00 - 4:00 pm.  These time slots work in most time zones and allowed me time to give a little more information to the buyer prospect or homeowner wanting a recap.  I also believe that a well publicized three hour Open House is just as helpful to buyers as longer time periods.  Establishing a date as much in advance as possible allowed me to tell callers asking for information about the home about the Open House.  I answered their questions and always mentioned that I would be holding an Open House on Saturday or Sunday from 12:00 - 3:00 pm or 1:00 - 4:00 pm depending on the arrangement with my sellers.  This information can also be published in the CRMLS and social media options. 

More importantly, it allowed time to coordinate with one or more industry members who might see value in sitting the Open House to secure a client for a loan, home warranty or other business.  Having another party assist you with the Open House is a very wise decision at all times.  I found that industry professionals are excited at the opportunity to have access to potential buyers and homeowners and often ask to bring helpful brochures.  It is also great to have assistance when several families arrive at one time and you want everyone to receive a warm welcome.

Finally, a well planned Open House will provide more opportunity to alert neighbors, place signs in visible locations and increase the number of prospects.  When the Open House ends it is beneficial to have allowed ample day light time to safely collect signs and, of course, allow time for the visit with the homeowner or the buyer prospect who arrives a few minutes prior to your planned departure.











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