5 Ways to Get More Traffic to Open Houses

Schools out for summer!

That’s great news for kids as well as Realtors because summer is traditionally the busiest time of any real estate market. Homeowners with children that have been contemplating a move usually don’t want to consider putting their home on the market during the school year because of distractions and other obligations and many home buyers decide to target the summer months because the inventory usually rises in the summer months providing a greater array of choices. (They usually don’t realize that it also could increases the competition).

Depending on your local market, exposure of the homes listed for sale can happen in many ways such as the local MLS (multiple listing service used by most real estate companies), brand sites like ColdwellBanker.com,  web portals and aggregators like Zillow, Trulia, Realtor.com and Homes.com, direct mail campaigns and “just listed” cards and of course, the traditional yard sign.

One of the best ways to get some real-life exposure for your listings at this time of year is the open house. Now I know some people don’t like the open house as a marketing method, eschewing it’s ability to bring in qualified leads or lamenting the fact that they don’t want to spend their time waiting on “lookey loos” and “nosey neighbors” to come through with no intentions of purchasing the house. The fact is, it still remains the best way for a possible homeowner to “try the house on for size” that you just can’t get in a newspaper ad.

On-line stores like L.L Bean and Zappos have made it easy for today’s consumers to order apparel and shoes, have them shipped, try them on and if they aren’t perfect, ship them back. Usually free of charge. Nothing lost but the few minutes of clicking and waiting. Unfortunately, Zillow and Trulia and other real estate websites don’t have the option…yet. Consumers can see photos and watch videos but a house isn’t something most people feel comfortable buying sight unseen. Open houses are that opportunity for consumers to put their personal senses to work and see how the homes for sale in their area look, smell, feel and sound. (I left out “taste” because hopefully no one will be licking the walls and if they do, please be sure to disclose the possibility of lead-based paint in homes built prior to 1978)

So what can you do to get more traffic to your open houses and increase your opportunity to find the best buyer for your listing but also meet future clients?

5 Ways to Get More Traffic to Your Open House

1. Hold it open the 1st week – This one seems kind of obvious, right? People love new things. They stand in line to see movie premieres. People camp out for the chance to buy the latest iPhone. Chick-fil-A fans will wait for weeks to be one of the first to eat at a new store. It’s no different with open houses.

Especially with inventory levels being so low in most markets across the US, buyers have already seen the other homes on the market and because they are still looking, they obviously haven’t found the right one. Take advantage of the mentality of those who might be attending the open house – they are wondering “what’s it going to take to get this house?”

2. Price it correctly – Again, it’s almost too obvious but today’s consumers are knowledgeable. They’ve done their homework. They’ve been on the websites and the auditor’s site. They’ve been watching HGTV and TLC and Bravo so they feel they know how to negotiate. Remind your sellers that you’re not just looking for buyers for their home, you’re looking for the “best” buyers and you want to position the home so it creates a “perception of value” that will have the best buyers excited. When you can couple the logic of a good price with an attractive, well staged home, you’ll increase the emotional appeal and perhaps even generate multiple offers.

3. Call the neighbors – The neighbors are going to want to see the new listing. Admit it…you would if your neighbor’s home hit the market today. How does it compare to yours? Will it add value to yours if it sells quickly? Can you think of anyone that is thinking of moving that might love to live there?

Remember, you (or your sellers) may not like neighbors snooping around the house because you think they aren’t quality buyers, but no one knows the neighborhood better and they might be thinking of selling themselves sometime in the near future. How you treat them and demonstrate your market knowledge and expertise could be critical to earning consideration as their next Realtor. Plus, you can usually learn a lot about the area from neighbors that might help you with that potential buyer from out of the area that has lots of questions you didn’t know the answer to.

Here’s a post from the Carp’s Corner Archives on the “Neighbor’s Only Open House”

4. No showings until Sunday – Check your local regulations and rules but if you can avoid having any showings until the open house, it will help generate excitement and anticipation. Not only will neighbors and the general public be queued up, you’ll also have Buyer’s agents ready to attend with their pre-qualified, ready, willing and able clients.

5. Do something different – What is the traditional day and time for open houses in your market? Sunday afternoons? Saturday mornings? Figure that out and then do the opposite.

With over 1 million members in the National Association of REALTORS it’s not difficult to see how consumers might think we’re all the same. With _____ homes currently on the market in your local town, what makes them unique? On any given Sunday, how many of those listings are even held open? It’s time to get away from the safe excuse of “that’s just how it’s done in my market. I can’t do something different.”

Start holding open houses during the week. What about a “Hump Day Open House” from 12-2 on Wednesday? (Guess what day it is!?) Why not consider a “Happy Hour Open House” on Thursdays from 4-6pm? “Coffee Break Opens” from 8-10am?

Have you considered asking your Sellers who work during the day if you could set up a “temporary office” in their kitchen one day a week and stick an open house sign out for passers-by to come in? Just be sure to ask them for their wi-fi password so you can work while you’re there.

Not every buyer can visit open houses in your market on the traditional day they are held. Not every neighbor feels comfortable stopping by when there are “real” buyers looking at the home. Do something unique. Contact other Realtors who have listings in the area and plan an Open House “Cannonball Run” and tie in a lunch or happy hour afterwards. Could you use social media sites like Foursquare or Instagram or Vine? #OpenHouseTour

And I guess if you keep doing your open houses the same old boring way, always remember to build relationships, solve problems and have fun.

What else do you do to generate traffic and excitement to your open houses? Drop me an idea in the comments below.

Open House image: CBTown&Country

Balloon image: TijmenKielen