While some seller’s agents regularly host open houses for their active listings, many do not. There are some benefits associated with selling a specific house that come from hosting an open house event. For example, you can increase traffic to the home, draw attention to it and choose the time for the showing around your own schedule. However, in many cases, other real estate agents in a firm may ask to host an open house on behalf of the listing agent, and there are marketing benefits associated with this.
Finding an Interested Buyer
By hosting an open house on behalf of another listing agent, you may be able to locate a buyer for that house. Many open houses are not successful for this purpose, but there is always a chance that an interested buyer will walk through the door of an open house. If you are manning the open house, you may be able to win the business of that buyer and represent him or her in their purchase. When effective, this strategy saves you the time and effort of having to show clients new listings for several weekends in a row.
Meeting New Potential Leads Personally
While there is an off chance that an interested buyer will be located at an open house, the reality is that each new person that walks into an open house is a potential lead for you to do business with. An open house brings those who are actively looking for a new home directly to you, and you have an engaged audience for at least a few minutes. This gives you time to learn more about their needs, to make helpful suggestions and to add them to your list of potential leads to follow up on.
Setting Up Future Appointments on the Spot
In the best case scenario, a real estate agent hosting an open house may successfully set up a time for a future appointment to show houses on the spot. Many who visit open houses are not actively working with an agent, and they are using open houses as an opportunity to see the interior of homes without an agent. By offering to show other homes to the leads at open houses, you may be able to secure a significant amount of business for the days and weeks to come.
Many busy real estate agents will not host open houses because they are often ineffective at locating a buyer for their own listings. However, if you are new to real estate or if you are in a situation where you have more time available than money to spend on marketing for realtors efforts, hosting open houses on behalf of other agents can be a highly effective way to generate more leads for email marketing campaigns and for future appointments. Consider how you can maximize the benefits of open houses advantageously to boost your profits in the months to come.