The effectiveness of open houses has recently become a topic of debate. Many critics of open houses say that with more and more buyers turning to the internet to find a home, putting on an open house isn’t worth the time or energy. The open house debate is neck and neck. Jared James, with REALTORMag, states that “If you were to ask 100 agents if they think open houses work to create new business and generate leads, half would probably say yes and half would say no.” So what’s the answer?

There is a big difference between generating leads and converting leads. Converting leads is all about one on one conversations and getting that in person face time. That’s where open houses show their value. Open houses provide a unique opportunity for agents to fill a room with buyers and sellers. Regardless of the potential sale, the open house has become a powerful prospecting tool. With that being said, open houses are only effective if you are able to get traffic coming through. Hosting an open house with yourself, four walls, and a table of food and beverages isn’t going to get you the results that you want. So how do you host an effective open house?

Here Are Five Steps That Will Help You Get The Most Out Of An Open House

The Internet Is Your Friend- Use It!

We live in a digital world and finding a house is no different. Get your open house publicity online. Some of the most popular sites to start with are REALTOR.com, Trulia, Zillow, and The MLS. You can also use Facebook to your advantage. Create an ad on Facebook featuring your open house, set a budget, target an audience, and watch your exposure sky-rocket. The Facebook promotion tool is a powerful way to expose your digital content to hundreds or even thousands of people in your area.

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Neighbors Aren’t A Waste Of Space

Contrary to popular belief, inviting those “nosy neighbors” to your open house is a very good idea. Why? Neighbors are usually very interested in the market value of a home nearby to determine if it’s a good time to consider selling. Neighbors can make excellent prospective clients. Let’s pretend for a second that those nosy neighbors actually are just nosy neighbors, they came to eat all of the food and snoop around. Believe it or not, they still serve a purpose. The more people that walk through your open house, regardless of intent, the better. Jared from REALTORMag asserts that “The more people who walk through your open house, the more buzz that will exist and the better the offers will be that you receive.”

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Print Marketing Isn’t Dead

Yes, we live in a digital world but print marketing is still highly effective and appreciated by prospective buyers. Having flyers, brochures, or booklets made up with other listings in the area or in the neighborhood that have similar pricing and home features is an excellent way to showcase your market expertise. In addition, having printed materials with high resolution photos of the home, general specifications of the home, top rated restaurants in the area, top things to do in town, and information on local school districts can make the dream feel more like a reality.

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Signs, Balloons, Billboards, Skywriting (Okay, Maybe Not Sky Writing)

Okay, Billboards and Skywriting may be a little bit aggressive when it comes to advertising an open house but the statistics are still strong when it comes to the use of yard signs of all shapes, sizes, and colors and balloons. NAR reported in its report that around 10 to 15 percent of buyers find the home they purchase from yard signs that advertise open houses. 10 to 15 percent may not sound like a big number but it is still a significant enough to throw up a sign or 20. The more signs, the more exposure you will get. I threw balloons in there because everyone loves balloons, right? They are eye catching, fun, and create an all around positive feel- just make sure the weather is clear.

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Hold A Raffle, Competition, or Maybe Tell A White Lie

You’ve successfully executed steps 1-4 and now your open house is such a hit it shows up as a hot spot on the Snap Map (this is a big deal) but you have no way of collecting information from the stampede of potential buyers and prospective clients coming in and out. Hosting a raffle or a competition where something of value is given away is a great way to collect names, email addresses, and business cards. Don’t feel like giving anything away or creating a competition? Tell incomers that they must sign in as a security measure, they’re entering someone else’s home after all-it’s not a big ask. Converting leads and gaining business is all about the follow up. Don’t let all of your hard work go to waste.

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