Let us first start off by admitting that not every home is suited for an open house. Sometimes a house just isn’t in the right neighborhood or its target buyer isn’t interested in attending open houses. Aside from that, open houses are a great way to get potential leads into your home where you are able to have a conversation with them face-to-face. On the other hand, sometimes open houses can attract the wrong crowd.
Now that you know the pros and cons, and you determined your home is the right fit for an open house, follow these guidelines to ensure your event is profitable.
- We’ve said it before, but just in case you forgot, know that the majority of buyers begin their search online. List your home and promote your open house on all third party sites (Zillow, Trulia, Realtor, etc.) and social media platforms.
- Use at least eight signs at your open house. Strategically place them throughout your neighborhood to direct people where to go. Remember, people will be coming from different directions so map out your signs beforehand to make sure you have enough coverage.
- Stage the party. As with every part of the selling process, clean your house! Turn the lights on, play some music, put a game on the TV (e.g. football, basketball, etc.), have refreshments and make sure your house smells good.
- Know the numbers. To get competitive offers, check out what properties in the area have sold and at what prices. Use these as selling points when talking to buyers. This is where an agent comes in handy. If you’re working with a realtor, you can step back and have them handle the negotiations the right way.
Other things to consider: Sundays are ideal, but if your only option is a Saturday, go with that. Plan your party for the afternoon. We suggest 1 p.m. – 4 p.m. Then, advertise and promote your open house the Tuesday-Wednesday before the event.
