Insider Tips for Hosting a Memorable Open House

The key to hosting a successful open house is ensuring you are prepared and advertise accordingly. Being ready for possible client questions and demonstrating your knowledge can greatly enhance your chances of making a positive impression and potentially securing a deal.

Make sure you are advertising your open house to the best of your ability. There are a million ways you can do this, but VP Realty has found that the most efficient way to spread the word is to use the MLS first and social media second. The MLS spreads the open house and date to all major home search websites.  Most importantly, any agent that has a buyer looking will get a notification.  Many times a house will not be a perfect match, but an open house is an easy way to get more people to look. 

It’s free and easy to make a post about your open house on your personal and business page, and you can spread the word by posting in various real estate Facebook groups – potential clients may be pursuing these groups for a home, so make sure your listing is there as an option! Additionally, putting an ad in the paper and hanging up fliers at local businesses can be effective. Do not forget to put up a sign at the property letting everyone know you are hosting them! 

Being prepared for anyone who might walk in the door is also crucial to success. It is important to have printouts of the information you need to know, so you can easily find the answers to questions you do not know off the top of your head. This includes the MLS listing overview of the property, the inspection report (if one was done), and a CMA Report (also known as a Comparative Market Analysis).  Having this information on hand prepares you for any questions and shows you are prepared and professional. 

The MLS overview is a necessity to have on hand. It will give you all of the details about the property – including how many beds and baths, the square footage, and an overview of what utilities are needed at the property, as well as a ton of other information you might need. You can find this by going to your listing once it is active in the MLS and printing off the listing. Learn how to do this here. Keeping this information close by will ensure you have all the basics about the property at the ready. 

Also, make sure to bring a few copies of the CMA report you created when listing the home. A CMA report is an analysis done by a realtor where they compare the sale price of other homes in the area to estimate the value of the home being sold. As a realtor, you can do this yourself – or there is an option to do it directly through the MLS. To get to this, you will open up the property in the MLS and select “Quick CMA” and it will run the report for you. If you prefer to do this yourself, you can check out this Masterclass article for some tips on how it is done. 

Make sure you have a stack of business cards on you! Networking is incredibly important in the Real Estate world, and an open house is just one more opportunity to make connections. Whether they want to put in an offer or not, if you make an impression on them, they might want to connect with you on another deal or work with you on something in the future! Having as many connections as possible in the Real Estate world will ensure your success in this career. You can learn about other networking opportunities at realestatemeetups.com. Make sure you give out a business card to every potential client and realtor who comes through the door of your open house.

As a bonus, provide refreshments! A great first impression is the most important thing, and making sure your guests are taken care of by providing a beverage and a snack definitely can make a difference. Bonus points if you make something homemade – it shows you care! 

Lastly, put some effort into your appearance. Putting your best foot forward and showing up in a professional outfit will go a long way in making sure you are trusted by anyone who comes through the door. 

A great open house is determined by the realtor hosting it. Make sure you are prepared, dress accordingly, advertise proficiently, and provide refreshments and you will have a successful open house. 

 

The Vincent Patrick Realty Team