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How to turn an open house into a business opportunity

Open HousesIn real estate every opportunity you can find for a business opportunity is a good opportunity. When it comes to holding an open house, there are quite a few ways to make the coming and going of potential customers business opportunities.

For starters, as a Real Estate Agent you should be aiming to hold  open houses every weekend. This keeps your name active and gives you a chance to build a great list. When holding the open houses one of the biggest complaints Realtors® often have is that they have a hard time getting the visitors to sign their welcome log. There are a couple of cute ideas you can try to get names on your list. One idea is to make up treat bags, kind of like a kids birthday party treat bag. Instead of putting candy and toys in the bags, fill the bag with a small notepad with your name and number on it, a pencil with your company engraved on it, and a little magnetic calendar with your picture and info printed on it. Close the bags up with a little ribbon tied together with your business card and as you are handing it to them have them sign your list. Make sure to follow up with a thank you note. Those who have tried this business method report that they are getting six out of seven fresh names each weekend. Out of those six to seven names, a decent amount of them end up being buyers. That makes this method worth trying.

You might Also like: The Open House Sign In Sheet

Consider bringing in an Ipad and stand and loading simple sign in software. How about a big sign hanging from the Ipad stand that says “WIN THIS IPAD” and explain that you will give a way an Ipad on X date (even if it’s only one per quarter or per year) and someone who registers will win it!!! The older generation Ipads are still new great gifts and can be purchased rather inexpensively.

Another way to get names for your business during open houses is to have what are called group open houses. This is where you get together with a group of realtors, even ones you might not know who have houses for sale all in the same area as a few of yours. What you try to do arrange it so that all of you have an open house on the same day so you create a lot of buzz in the area on that weekend. You do the same thing the next weekend and pretty soon houses in the area start to sell in that area because of the entire buzz.

Another idea for getting names on a list for your real estate business is to take what looks like candy wrappers and turn them into business cards, with the chocolate inside of course.  Instead of saying Hershey’s or Kit Kat, these full size candy bars say your name on the front of the wrapper. And on the back where you would normally have the calorie information you put your business information.

Use a call around strategy. There is software on the market that will allow you to gather phone numbers around a property. You can then call or even use a company that does a call blast for you. You record the message and set it to call all of the numbers and play the message. There is also Text Software. Before you do this, be sure to check the No Call List and follow all broker and state regulations to protect your license! Not all area’s permit these calls.

Consider Facebook! With Facebook Events, you can now announce to your Facebook Network that you are holding an open house. You might want to think about promoting the post and choosing a focused demographic Facebook Audience that is local and might be drawn to this house. You don’t have to be “friends” to show your open house invite in a promoted post. Make sure when you set up the event that you take the time to include the best property picture(s), but not all pictures, and some basic information. Price, Size, Location and include date, time, contact information, and if you will include refreshments and any kind of give away.

One final thought for getting business to your open houses is based on the basic knock and let them know theory. Let’s say that you have a listing that you list on Friday or Saturday. You know that as a realtor it would be a good idea to have an open house on Sunday. So, you go ahead and plan one but the listing has not been up that long and you are afraid that you’re going to have a no show open house. One way to make sure this does not happen is to take the Saturday or even the Friday before the open house and go and knock on 25 to 30 of the neighbors doors. Let them know that you are having an open house and where it is and invite them. This will help you get to know the neighborhood and help you to meet a large number of people on the street who might be thinking of selling their home and you might be able to gain their business. Plus, by getting the neighbors talking about a home selling in their area you can create buzz that makes them think about selling their home. It is sort of like the Jones effect. People see or hear about a home selling and start to think that they may be missing out on something if they don’t get going on selling their home too. You were the last person to knock on their door; you are holding an open house, who knows what kind of business might come your way just for knocking on 25-30 doors.

There are several factors and variables that go along with any type of business opportunity. If the day is too rainy, too hot, or just not right, nothing you do will get you the foot traffic that you need, but trying these tactics on a normal basis will get you a bit more business.

HOLDING A MEGA OPEN HOUSE

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