Agents typically think about open houses as opportunities to round up some unrepresented buyers. However, this is happening less and less in today’s market. Maybe it’s the case that more buyers already have representation, or maybe those who don’t want to be bothered are just getting smarter by auto-responding with, “Oh, I already have an agent.”
Regardless, you should start seeing your open houses as an activity to generate potential listings. Oftentimes, the activities leading up to the open house typically generate more business opportunities than the open house itself. That includes the conversations we have while inviting neighbors to the open house via door-knocking or phone calling.
The ideal way to generate listings from an open house is to start with door-knocking. Have some sort of small invitation card—nothing too fancy, but thoughtful. If no one answers, leave the card in the door or the mailbox. If they do open the door, let them know that you’re simply inviting them to an open house to see how your new listing compares to their house.
Use key phrases like, “I’d love to know what you think of the price,” or, “Let us know if you think it shows well,” or “Tell us how it compares to your home.” Take advantage of neighbors’ curiosity. In fact, in the past, we’ve made the first hour of our open houses an exclusive viewing for the neighborhood.
That exclusiveness drives up attendance, thereby creating more opportunities for business conversations. Also, think about the other ways you’re presenting the listing to the neighborhood. For example, we put up 25 signs and balloons. Create the impression that you’re not just doing a routine open house, you’re doing the mega-open house event.
Another great tip is to not immediately ask those who walk in if they’re an interested buyer. Instead, ask them about how they found out about the event, and if they live nearby. Their responses will then clue you in on where to guide the conversation from there.
If you have further questions about open houses or any other topic, please don’t hesitate to reach out to us via email or phone. We look forward to speaking with you.