I have recently been asked to share more about Mega Open Houses. Last Spring in our Spring Into Action MEC event I spoke about this hot new marketing strategy Mega Open House. Since then I continue to get questions about the best practices for hosting a Mega Open House. There really is no secret. However, there are a few must do’s to give yourself the best possible chance at a highly successful open house.
According to NAR’s 2016 Profile of Home Buyers and Sellers open houses are a great way to find top tier prospects.
- 44 percent of all buyers used an open house as a source in their home search process.
- 68% of all buyers and sellers say they used the first agent they met!
- Buyers with a median income between $175,000 and $199,000 are more likely to find their home through an open house compared to those in other income brackets.
- Repeat buyers are more likely to find their home from an open house than first-time buyers
- and repeat buyers use open houses more frequently.
Knowing that Open Houses are the single best practice to pick up a buyer and potentially if you’re really good a seller. You should be hosting open houses every chance you get. Here are my 10 steps to a successful Mega Open House.
1.Knock out a quick video to promote the open
Using video apps like Videolicious are the easiest way to generate a quick video about your open house. You simply download the app, take a few pictures of the home you plan to host open, click start and start talking. This app is so easy you’ll have a video up and on Facebook within minutes.
2.Post video throughout social networks
Social media is the most cost effective medium for advertising listings and open houses. Post your video on Facebook, Instagram, Twitter, LinkedIn, Pinterest and of course YouTube. YouTube is super important because you then get the SEO value of indexing the property address on Google and YouTube. You will always be found as long as the video stays online.
3.Boost your video on Facebook
Boosting ads on Facebook is a must to promote your Mega Open House. For approximately $60.00 you can run a Facebook boosted ad for three days and reach thousands of impressions, get hundreds of clicks and drive traffic right to the very video you made posted on YouTube or your website.
4.Mail or hand out personal invites to neighbors
Grab a handful of flyers and or invitations to your Mega Open House and hit the streets, Target the neighbors within walking distance of the home you will be holding open. Door knocking is a wonderful way to find your next listing. Walking door to door inviting the neighbors to come early and see the home is a great way to discover a listing as well as set the stage for you Mega Open House.
5.Host a private Neighbor only event 1 hour prior
In conjunction with the above door knocking you’ll want to host a one hour neighbor only pre open house. This is a great way to get to know the neighbors and find those potential sellers before other agents working the area get a shot at the listing. Make sure you have snacks and beverages on hand.
6.Use a minimum 20 directional signs
Signs, signs, everywhere signs… So goes the song. The more the better. Frank Liu a RE/MAX Gold agent in San jose uses 0ver 40 signs all directing traffic to his Mega Open Houses, This not only gets more traffic to your open house but it sends a strong message to the neighbors that you mean business when selling a home.
7.Use flags, banners, balloons, etc to attract attention
Here again the more the merrier. Use the tall flags that plop in the ground. Banners, the RE/MAX 7ft air balloon is an awesome tool for Mega Open Houses. You basically want to create a ton of attention for your open house and demonstrate to the neighbors that you will go above and beyond to sell their home.
8.Roll out red carpet and serve refreshments
You read right. Red carpet is a must! Go to your local fabric store and ask for a giant roll of red material. Roll it our from the front door to the street. This is a great way of welcoming guests to your open house .
9.Post notice “Seller’s require all attnedees sign in on door”
Many agents bring their iPad, tablet or even laptop to the open house and have a snazzy little app that capture buyers information. Nothing works as good as a simple hand written notice taped to the front door that simply says “The sellers have requested that all attendees sign in”. Works everytime and you will walk away with everyone’s email and phone number.
10.Set up a sign in table at the front door.
Don’t forget this essential. If you do the above you’ll need a small table with a sign in book.
That’s it. No magic formula. Like most marketing efforts it only requires you get out of bed and make it happen. If you follow these 10 steps outlined for hosting your next open house you will master the Mega Open House and win more listings.