Featuring Karlton Utter
Why don’t agents host open houses? Bad timing, too many listings, bad weather, having to put signs in high traffic areas—aka playing Frogger—no results, ugly house, and they don’t work. Of buyers looking to purchase a home, most are seven months out in making a decision to purchase. According to NAR, 47% of all purchasers attend an open house? Forget about closing the deal right away. Build a relationship with the new client that came into the property. Stop looking at the open house as just a lead and consider it to be prospecting—a way to increase your database. Many times you get noisy neighbors. Many of those neighbors are interviewing you to list their home, so welcome all noisy neighbors!
The best tip for sitting an open house is that it becomes your mobile office. Go ready to work and show information to potential prospects. If an open house shopper comes in and says, “I already have an agent,” that’s great! Get the agent’s name, call them, and thank them for sending their buyer to the open house. Make a connection. Build a real estate relationship.
Take-aways from Karlton Utter:
- If you’re going to do an open house, preview the surrounding homes. The walk-in buyer will ask questions about the surrounding properties.
- Add technology to your open house. Use sign in apps or setup your laptop or tablet to the TV and have a slide show. Open Home Pro is great app to collect data!
- Greet the person at the door.
- Sit outside on a nice day and wave them in to the home.
- Know the area inventory.
- Try to hold back from selling the house.
- Talk about the features of the home.
- Use Walk Score and know what’s nearby.
- Wikihood—a great way to learn more about the area!
Questions to ask walk-in buyers:
- What was it that attracted you to this home?
- Do you have a home to sell?
- What is your purchasing timeline?