Strategic Open Houses
Where do open houses fit in with modern real estate marketing? With virtual staging and 3D tours, are they still worth it? Like many things in life–a career, a relationship, or learning to play the guitar–what you get out of an open house has everything to do with the effort you put into it.
Let’s first be clear on the purpose of an open house. An open house is a not an event intended to produce a buyer (although it’s not unheard of!). It’s a strategic marketing device to build an agent’s business.
When properly leveraged, open houses are a valuable part of any marketing plan. It’s a piece of content that is low cost, requires little effort to create, and is something that you already (should) do.
Agents taking advantage of low inventory are pre-marketing properties with the help of open houses. They engage other agents and potential buyers online and via email BEFORE the listing is live to create early interest. In coordination with this simple pre-marketing effort, an open house the same day a listing goes live will get the most people in the door as quickly as possible.
Once the doors open, make every visitor count. Put down your phone and engage with everyone who walks through. It’s tempting to hand out MLS sheets, but consider skipping them so you interact with each visitor and collect email addresses to follow up on unanswered questions. If a visitor hesitates to share it with you, ask for their agent’s.
When it makes the most sense, do pick up your phone and share your listing via Facebook Live or your Instagram story. Use your camera time to showcase the property and share your local market expertise. Prepare answers to common questions and tell your audience how your listing stand out from others.
When the doors close, put the contact information you collected to work for you and send a thank you to everyone who attended or follow up with their agent.
With pre-marketing, interactive and live showcasing, and thoughtful follow up, open houses are simple and FREE ways to engage and grow your network.