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Bill Thompson, REALTOR®

Let Us Rethink the Open House Concept

By: Bill Thompson, REALTOR®
Tuesday, May 22, 2007 12:14 AM

Several very successful REALTORS® I know are very good at open houses. They are not successful in selling the listing but rather in selling themselves to the neighbors and others that visit. Open houses are pretty popular here in the Dallas area. Sellers do expect them, thus they are an important marketing tool in getting a listing in the first place. Hold an impressive open house in a nice neighborhood and you may pick up another listing or two in that same area. Everything you hand out at the open house should have your website address at the very least.

I saw one the other day where they had rented one of those "jumpy castle" things (huge, inflatable, enclosed, trampoline type things) that kids love, set it up in the front yard. This was a family type neighborhood with lots of school age children, "stage" your open house according to the neighborhood. There were balloons and snack foods...think spoiled kid's birthday party and you get the picture. Did it sell this house, most likely not, but I'll just bet the neighborhood thinks this REALTOR® is the best they ever saw. The seller feels confident this REALTOR® is really working to sell their house like no other would. No doubt they tell this to friends and coworkers that were not at the open house. I would not be at all surprised if that REALTOR® got another listing or two as a result of that open house.

Think of all the time, money and effort we spend trying to get our name out there, trying to attract new listings. The wasted dollars spent on slick ads in those real estate, magazine type publications where you are a tiny little blurb amongst 100 or so other REALTOR® ads. When the opportunity comes to stand out from the crowd, take it! 

Let us not be so myopic about open houses and the fact that they rarely sell that house. If they sell the indiviual REALTOR® and REALTORS® in general, as fun, hard working professionals, that is success! That is powerful marketing!

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Comments

Todd Clark
Member Since '06

Todd Clark said:

That is an awesome idea and I agree, we are not there to sell the home. I've only sold the home once with an open house, but other than that I do them to sell myself and make home owners happy.

Todd

May 22, 2007 12:59 AM
Dennis  Jonas
Member Since '07

Dennis Jonas said:

I have three rules when I decided to have an open house.

1.  It must be price right.  Never have a over price listing as a open house.

2.  Must be in perfect condition.  If it has any piglet factor, I will never have it open.

3.  Must be in high traffic area.  I don't mean on a busy street, but near busy street so people can see my open house signs.

I use up to 15 open house signs on my open houses, many times I never even run an ad.  Many people thank me for making the home easy to find.  I have sold many home that I have held open.  I always treat everyone that stops by my open house as the only people I will see that day.  When you do that it is surprizing how much information they will provide you.  I will be happy to exchange a couple of open houses for a new listing or a new buyer.

Open houses work, if you work them.

May 22, 2007 5:51 AM
Lori McNutt
Member Since '06

Lori McNutt said:

This is a great post Bill, you have given me a new incentive to have an open house!!

May 22, 2007 6:11 AM
Phil Rotondo
Member Since '04

Phil Rotondo said:

I'd like to schedule 2 open houses this Sunday; but I can't find anyone who's interested in doing one of them.  Any volunteers?  It's priced right and is in excellent condition.  Please let me know.  Thanks :)

May 22, 2007 6:21 AM
Gloria Losie
Member Since '06

Gloria Losie said:

Bill:

You always have great posts. Great ideas for an open house and fresh view.

May 22, 2007 6:40 AM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Thank you so much for the positive feedback on this. I don't think I'll do any more late night posts, however. It is 9:10 am here in Dallas and this post has disappeared off the front page too quickly.I posted it just after midnight last night.

May 22, 2007 8:15 AM
Gregory Bain
Member Since '03

Gregory Bain said:

Bill, those home owners may think the agent is great for having a party on their property - but, if one of those kids breaks an arm or leg in that castle - the owner may not have a castle of his own to sell. Can you spell lawsuit?

May 22, 2007 12:38 PM
Travis Martinez
Member Since '06

Travis Martinez said:

I am in a rural area and traditionally open houses don't do too well.  The castle thing is a great idea in a more populated area.  Does anyone have an idea of a clever way of having an open house that will get peoples attention and make them drive a little?  

May 22, 2007 1:29 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Travis I saw one of the funniest ads ever. A company that sells mobile homes advertised "Free can of pork-n-beans" with every purchase. I guess it pays to know your market ;)

June 8, 2007 11:49 AM

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