Rethinking the open house


ORLANDO, Fla. – July 17, 2009 – Realty industry insiders continue to debate the merits of holding open houses – with some viewing them as useless, others holding them simply to placate sellers, and others seeing them as an opportunity to reel in a prospect who is ready to purchase.

One angle that is perhaps being overlooked, meanwhile, is the open house as a tool for creating brand dominance in a particular community. This is especially true in relatively new neighborhoods that have seen little, if any, resale activity. Here, no other agent or brand has already established dominance.

An agent who wants to become the preferred marketer in an area should first choose a community that is exciting to him or her, as most of that agent’s listings will be concentrated there. He or she should then become acutely familiar with all of the features, amenities and floor plans offered by the local builder, and take full advantage of the opportunity to cluster plenty of Open House signs everywhere possible around the neighborhood to generate foot traffic.

The actual open house event should provide refreshments, which will encourage visitors to stay a little longer – giving the property professional a chance to chat with them and determine their motivation for attending. The open house agent also should have a guestbook in place, with a space for e-mail addresses, have a loan officer on the premises to talk with prospective buyers, and create a display with pertinent and interesting information about the local community.

Source: RISMedia (07/14/09) Mantor, George W.

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