Open House 101: A Guide for New Realtors (And Everyone Else)

real estate 101 Mar 04, 2022

The term “open house” is practically synonymous with real estate agents. As an agent, you’re expected to know how to run a seamless and successful open house from the get-go, not to mention make the most of every opportunity that walks through the door. Sure, open houses can be a great tool for adding new leads to your database. However, they can also be a big waste of your time and money if not done right. Whether you’re a brand new agent or a veteran looking for some new tricks to improve your conversion rates, here are some helpful things to keep in mind when planning your next open.

Pre Open House Day: Preparation is everything.

There are two essential components to preparing for an open house. First and foremost, you want to make sure people know about it so they can attend. Second, you’ll want to get both you and the property ready to be shown in the best light possible.

Start by announcing the open house on all the appropriate channels. Add it to your MLS, which should automatically syndicate to other home buying sites like Zillow, Trulia, Redfin, etc. You’ll also want to spread the word on social media and be sure to geotag the city or community. You’ll find some great social media templates in our free downloadable to get you started.

Next, it’s time to prep yourself for all the potential opportunities. You’ll want to have all your resources and information ready to go for game day. Use our checklist or create your own to organize everything you need well before the open house date. You’ll need business cards and open house signs to start. You’ll also want to arm yourself with all the information you could possibly be asked about. Run the comps and understand what’s recently been sold and what is on the market in the surrounding area. This information is key if you’re looking to land new buyer clients. You’ll want to be confident following up to a comment like “this is nice, but we’d like something bigger” with “have you seen property x two streets down that has one more bedroom?” This makes you look far more knowledgeable and experienced than if you had just offered to get back to them.

The Day of the Open House: Before the crowd arrives.

The first rule of open houses: get there early. Start training your brain to think of early as on time and on time as late. Set aside extra time to put your open house signs out and prep the property. You’ll want to turn the lights on, put the toilet seats down, connect to the internet, put your marketing materials out, fix your hair, etc. before people start to arrive.

The Open House: It’s showtime!

Above all, be present at the open house from the start to finish. Avoid being on your phone or looking at social media. Every person that walks through the door could be an opportunity. Be prepared to greet them when they come in, and then give them space to look around. If you’re not sure what to say, you can always invite them to explore and let you know what they think once they’ve gotten a feel for the property. If they aren’t using an agent and are interested in looking at properties or selling their home, don’t be afraid to engage with them and get their contact information. Ask if they’d like you to follow up or help in any way. Be proactive and offer to be of value — don’t just ask for the deal!

After the Open House: Your job isn’t done yet!

Once the very last visitor has left the open house, your first task is to put everything back where it belongs. Make sure to turn off all lights, lock all windows and doors, and return the keys if necessary. Leaving the home as it was when you arrived will go a long with your clients.

Once you’re confident everything is in place, it’s time to follow up with the day’s visitors. Always follow up with everyone you meet on the same day. Don’t wait until Monday; getting in touch while your initial introduction is fresh is a huge indication of your professionalism.

Another impactful way for high-performing agents to capitalize on open houses is to door knock the surrounding area after the open house has ended. This allows you to provide neighbors with an update, including how many interested parties stopped by. You may even be able to offer a consultation if they’re interested in doing something of their own some day. Keep it simple — and feel free to pass out postcards or door hangers if door knocking is not appropriate at the moment. If you’re looking for more information on how to door knock, the SellWell program is a great resource.

Final Tips

Here are three final tips to elevate your open house prowess even further:

Learn from your peers: Ask to shadow or partner with another agent. This is essential if you’re just starting out and have never run an open house, but can also be beneficial for more seasoned agents. You never know what tips you might pick up that you haven’t used before. Make sure to take note of how the other agents prepare and interact with visitors as they come through the door.
Use the buddy system: Industry partners like loan originators make great additions at open houses as a second opportunity to interact with visitors. Plus, oftentimes, buyers at the beginning stages of dipping their toes in the market are more willing to engage with lenders before sharing details with a Realtor.
Be safe: We can’t stress this enough. Make sure you are always aware of where you are within the property and any nearby exits. You may choose to wait outside the bedrooms, or even the home itself, as people explore. This is especially smart if you find yourself in a compromising situation. Always make sure your phone is charged and you have service — and that you’ve shared your location with a loved one or coworker. Having a person to call and a code word in case of emergencies is smart as well.

In conclusion, open houses are great opportunities for your business if you treat them professionally and show up as your best self. Never lower your standards when it comes to your business — and take advantage of every chance you get to expand your network.