Optimize Your Open House

Optimize Your Open House

Many real estate agents do not hold open house because it seems that fewer deals are actually being made through this method of selling. Virtual tours, online guided tours, and drone photography is becoming more popular every day so the idea to optimize your open house may seem rather old fashioned. More people are buying property from other parts of the world than ever before so an open house will not benefit those particular buyers since they will typically purchase a home before ever viewing the property in person.

However, there is other research from the National Association of Realtors that indicates open houses are underrated when it comes to their potential selling value. While many people search online for homes, a large percentage want to see them first in person before making the decision to buy. This means that open houses may be far more valuable than you might realize.

Here are a few ways to optimize your open house:

Clean it Up

The first step is cleaning up the home so that it appears neat and tidy. The same is true for the front and back lawns as well. Anything that is unsightly should be removed from the property so that you can properly present your home. In creating the best first impression, you should start with presenting a very neat and clean home that will impress visitors.

Neutralize the Personality

Another step is to remove anything that personalizes the home starting with pictures, photos and any knick-knacks or items that create the impression that the home still reflects your unique personal tastes. Instead, you’ll want to present a home that is a blank slate so that potential buyers can see their own belongings inside.

Bake some Cookies

This is the oldest trick in the book but it’s effective, bake cookies before your guests arrive so that the house smells like home. You can even serve the cookies as treats while potential buyers are exploring it. In addition, you’ll want to get rid of any odors with neutral cleaners.

Sellers Should Be Away from the Home

The real estate agent should host the open house and the seller should not be present. This is because a sellers can be intimidating to a potential buyer and may say something to turn off the buyer. Always schedule the open house during a time in which all the occupants are away.

Get Feedback

To really optimize your open house, every person that comes in the house should fill out a one page survey (Bribe people to fill it out by giving them a $5 Starbucks gift card, it works!) The survey should have questions about what people liked and what people didn’t like about the home. The survey should also ask if the home is priced correctly so that you can give that information to a seller if they are unrealistic with their price (Several surveys that say a home is overpriced is extremely valuable if you need to have a conversation about a price drop with your seller).

Have Fun

If you want to attract millennials or the neighbors to your open house, turn it into a party! A party can draw a large audience and create competition among buyers.  You can do fun things like:

• Hire a DJ
• Rent an inflatable bouncy house
• Serve ice cream or gelato
• Barbeque or hold a pool party in the summer
• Host a poetry night
• Do an art auction

In Conclusion

Your number one goal is to create an inviting atmosphere in the home. To properly optimize your open house, capture all the contact information from the visitors so that you can follow up with them. This is key as your follow up call just might be what sways them to make the purchase.

If you are a real estate agent, you should also follow up with buyer leads from the open house. Every open house that you hold should produce at least one buyer lead. You are leaving money on the table if you do not help these buyers find their next dream home.