WITH MIKE STOTT

2015 Edition

Open House

Open House

SuccessfulHow to Host a

In the world of email, Facebook, Linked in twitter, sly dial, and non-personal

communication – here’s a chance to meet people face-to-face!

They actively search out listings online.They aggressively shop the swelled ranks of homes for sale by owner, known as FSBOs.They spend their weekends doing home shopping "leg work".They attend open houses in droves.When do-it-yourself home shoppers drop into your open house, you're safe to bet on two things:They're serious about finding a home for saleAn Agent doesn't represent themIn other words, they're great Buyer prospects.A high-touch opportunity in a high-tech world

Todays Buyers are frantic

Pick a well-priced well trafficked house (bargain if you have to – lower price then open) BEST is new on market and shows GREAT.

Prepare the seller for open Prepare A Buyers Package (Plat maps

tax info, lender sheet, fact sheet, disclosures) Know the Market Stats. Bring fact sheets with neighborhood comparable sales/listings. Preview the comps in advance and talk to the listing agents. Have comps set to show after your open… or during if have a partner with you. Be sure to cancel if not showing.

Here’s 20 tips towards an Effective Open House

Know the advantages of buying right now and financing options available on this home. Low interest rates, tax advantages, and possible higher prices coming make now the best time to buy!

Get a lender to sit with you and/or provide financing sheets. They can do a pre-qual right on the spot.

Create a bulletin board of seasonal house photographs so buyers can see what the home would look like at another time of the year. This is especially helpful to showcase gardens during the winter.

Here’s 20 tips towards an Effective Open House

Advertise online (MLS, Craigslist etc)

Door knock 25 neighbors On Friday –What an opportunity!

Here’s 20 tips towards an Effective Open House

Invite the neighbors by personally knocking on their doors (best day-of, if very big, a few days before) and letting them know about the open (when the home sells you can go back around with the good news and they’ll remember you). OK to mail invite but more likely they come from a door knock or simple invite on the door day-of. Also OK to cold call the neighborhood beforeAsk for their HELP with your open (tell others about it, avoid parking in front of the home, etc)… Ask if they have any questions about the market to open some conversation. Tell them about a drawing and get them to come by.

Old Expireds and FSBO’s Put out lots of signs (some do up to 70) on

Saturday Put balloons on signs Sunday Morning Consider posting an invitation on craigslist,

facebook, etc. the morning of the open house. Use your social media.

Stage the home – lights, smells, clutter! Use Open Home Pro to get sign ins

Here’s 20 tips towards an Effective Open House

Serve drinks (water bottles are fine) and snacks that won’t stain the carpet. This encourages people to stay and have conversation.

Be a great salesperson – enthusiastic and cheerful and asking for the business! One additional question!

Stand up and greet each attendee by saying: “Welcome! How long have you owned in the neighborhood?” This will start the conversation as they give an answer (so you know they are a neighbor) or say “Oh, I don’t live here”…. To which you can say “YET!” with a big smile. Question #2 – Do you own or rent now? Have 4-5- standard questions you can use to get conversations going. DO show them around.

Here’s 20 tips towards an Effective Open House

Use a drawing to get everyone to sign in and give full contact info. A great gift basket is an eye catcher and you can DELIVER it to them if they win… My best ever: Signed cookie bag from Wally Amos. He even came by the open house…

Bring a list of prospects and hot leads to follow-up with when you have slow times, or your PC/COI list. Tell them you’re at an Open in case you have to get off the phone quickly. Ask the FSBO how their open house is going and let the hot leads know you are working today. Ask them to come by.

Leave a nice note for the owners of the house letting them know how it went and give them appropriate feedback.

Here’s 20 tips towards an Effective Open House

What’s the goal?  Keeping Seller Happy? Getting them to

get it really nice and staged? Finding a Buyer for the Home? Finding

Buyers for OTHER homes? Meeting potential Sellers (most look at

homes BEFORE they list)? Meeting the neighbors to create a 2nd listing for that neighborhood?

Here’s 20 tips towards an Effective Open House

Hi, I’m Donna with NW Atlanta Properties… We have your neighbor’s home for sale and we are Actively looking for a Buyer for the home. We often find that someone in the neighborhood knows someone else that might want to move in.  Who do you know that might want to move into the area?(you’ll get “no one”, or “how much is the home” MOST of the time)

Thank them for thinking about it, give them the price and bedroom/bath details and then tell them it will be open Sunday from 2-5 and you hope to meet them there… they just have to see the _______ (some feature).

Before you get off the phone say... “You know, when one home sells in a neighborhood, very often another one sells soon after because of the additional activity.  Who do you know in the area that may want or need to sell?  How about you, when do you plan your next move?”  

Here’s 20 tips towards an Effective Open House