I’ve heard a lot of Realtors® say that open houses simply don’t work. Open houses have also been under fire due to safety issues.
However, I like to keep an open mind, and I recently discovered two unique ideas about how to maximize the impact of an open house. Both of these come from Realtors® who are actually doing them. I’d love your opinion – would you conduct an open house this way?
Limit to One Open House & Create an Offer Deadline
Having endless open houses is not only a hassle for the agent and homeowner; it creates absolutely no urgency on the part of buyers. There’s a feeling that you need them more than they need you.
To combat this, consider having only one showing and creating a deadline for making an offer. When there’s only one open house, you’ll have more buyers come in, which makes it more worth your time. When it’s crowded, that also creates the perception that there will be a lot of offers, which encourages buyers to make a higher offer than they might have been planning to.
You can also create a short timeframe for receiving offers after the open house. If the open house is on Saturday, you can create a deadline for receiving offers of noon on Monday. It helps create a sense of urgency to act, and you also reinforce the idea that there will be a lot of competition for the home.
Because people want what other people seem to be interested in, you can use this scarcity and deadline strategy to create interest and move a home quickly.
Hold a Community Event in a Staged Home
Those looking to really draw a crowd to a listing may plan to hold a social event at the home. This is not just an open house – it’s planned as a full community event.
Holding an event, complete with food, drinks, and even live music can be a great way to showcase a home’s potential for entertainment and fun. It will draw a bigger crowd than a traditional open house, and that helps build interest and create competition.
You can advertise this kind of open house event on social media, neighborhood websites, and even in newspapers or through printed flyers and postcards. It’s a way to take a boring, regular open house to a whole new level – in fact, you might even find yourself having fun!
In all likelihood, this type of open house event would only be suitable for a larger home that was at a higher price point. However, it could be a great way to showcase that luxury listing.
Thoughts on Open Houses?
I think it’s pretty clear that boring, regular open houses are on the way out, if not completely gone already. However, there are still agents out there being creative and finding new ways to elevate open houses as a marketing tool.
What do you think? Would you do either of these? If you have already, what was your experience? I’d love to hear from you!
If you’re ready to advertise your next open house, be sure to take a look at Printerbee’s large collection of customizable Just Listed postcards and property flyers. We’d love to help you get the word out!