What Types of Listings Should Have an Open House?
Since only 8% of buyers find their new home at an open house, many real estate agents have to consider if the efforts to set up an open house will pay off. It all depends on how well the home is advertised and whether it's in a neighborhood needing a little promotional boost.
Though you may decide not to host open houses down the line, understanding the work that goes into them and how to hold an open house is a useful skillset to have in your career. With that in mind, let’s outline how to get the word out about your open house.
Advertising and Marketing for Open Houses
Marketing is the lifeblood of real estate, and open houses require a healthy dose of buyer awareness to be successful. We have compiled six specific advertising and marketing tips you should use to promote your open house to drive as many visitors as possible to the property.
Post the Listing on Real Estate Sites
Depending on what kind of home it is, your posting may pique the interest of people from across the country, particularly if you're selling higher-end homes in a big city.
Remember to post content about your open house on your own website.
Email Your Database to Spread the Word
Through your work as a real estate agent, you'll start to build a database of contacts you may communicate with via email. Use your email list wisely to inform people about your open house event.
Sending out emails in a marketing campaign is more effective than you might think. Everyone still uses email, and they're easy to access on any mobile device. Sharing open house information here can generate buzz quickly, sometimes even inspiring offers that same day.
Utilize Social Media
Use the advertising feature on your Listing Village site to push your open house to thousands in the area. Just $50 for 7 days. Be sure to start your ad a week before the open house.
Places like Facebook, Twitter, and Instagram provide perfect opportunities to promote open houses.
Live Social Media Event
As briefly discussed above, holding a virtual tour for those who can't attend in person has become a great alternative to the traditional event, especially in the time of COVID-19. Virtual houses are a great way to share your available listing while keeping yourself and your community safe.
Direct Mail Flyers
Never discount the value of direct mail. Sending out flyers about your open house can reach just as many people as you would find on social media or by email. By making these direct mail campaigns more locally targeted, you can share your event info with neighbors and others living nearby who may either be interested in the property themselves or know of someone eager to join the neighborhood!
When to Hold an Open House
Finding the right times to generate the most traffic will take some research. Typically open houses take place during the weekend, and many are scheduled during the warmer months. As for the best time of day to host an open house, industry experts agree that open houses are best held during the afternoon. To get even more specific, the optimal time slot for your open house will be an afternoon, say 1 PM-4 PM, during the weekend rather than on weekdays.
When you’re planning an open house, make sure to keep an eye on the local sports teams and when they play. While not everyone is a sports fan, that game could impact attendance at your open house.
It's always a good idea to place signage outside of the property ready for an open house. Having these signs in front of the house and throughout the neighborhood helps spread the word about your event. A "nosy neighbor" might even see your sign and further boost your efforts by sharing the news with others in the area who might be interested in attending.
How to Engage with Open House Visitors
When visitors arrive at your open house, give each person at least a moment of your full attention, even if they aren't necessarily serious about buying. Engaging with these individuals is still essential because they may have an interest in another house you're currently selling. Their presence at this open house gives you the perfect opportunity to tell them about a similar listing or perhaps put them on your contact list if they ever want to sell their own house.
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