Strategies for a Successful Open House

In many parts of the country, real estate agents have an open house where they are selling to the public during particular times, such as weekends, so that prospective buyers can wander in and out without pressure. In addition to ads in the newspaper and large signs on the road, real estate agents make an extra effort to invite the people in the immediate neighborhood.

You may send invitations or even go door-to-door and invite them over for snacks and a gander.

But here’s the big secret: the open house isn’t actually meant to showcase the house on sale! In response to your raised eyebrows-okay, showcasing the house is a small part of the event, but it’s true purpose is to showcase the wonderful job that you are doing of selling a house. Statistically, only 5 percent of buyers come from open houses and it is 9 times more likely that the buyer will come through another agent. An open house is really an excuse to meet the neighbors and cultivate a feeling that you’re the specialist in the area. Of course it’s a dream come true if you find a buyer through an open house because you will keep the commission from both buying and selling. A “double-dip,” if you will.

Open House Tips

Here’s a tip to consider: spending extra money for home staging often pays off in the end.

When you meet someone at an open house, make sure that you know of at least five similar nearby houses that are for sale. That way, if you hear people say, “This house would be perfect if it had one more bedroom,” you can inform them that you know of a home like it a mile away and volunteer to drive them after the open house.

The open house is a win-win situation for the homeowners who are eager to show off their homes and agents who want to show off their efforts. Win-win situations happen commonly in real estate and these circumstances are something you will learn to recognize and feel good about.