How To Hold A Real Estate Open House
Open houses can give you valuable feedback about your property, show off a home with unique qualities, and may just find you a buyer. Here's how to hold a real estate open house.
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Step 1:
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Partner Up
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If your pad is on the path less traveled, consider reaching out to others in your neighborhood who have houses on the market. Advertising several open houses in one neighborhood can attract more buyers than you by your lonesome.
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Step 2:
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Spruce It Up
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Don't throw an open house unless your home is looking its best. The landscaping should be in order, the paint should look good, and there should be no clutter. Pay special attention to the front of the house and the entryway.
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Step 3:
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Secure The Place
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Security is a huge concern when it comes to having open houses. If you have valuables you're concerned about, remove them from the house ahead of time. Hide any papers with credit card or bank account information. When guests arrive, make a point to give them the tour rather than letting them poke around on their own. And have a friend on hand to greet guests while you're in a different part of the house.
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Step 4:
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Hide The Kids
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Children: so charming, so adorable... so unnecessary to have at an open house. You don't want your 6-year old showing off the corner where your cocker spaniel enjoys having his "accidents." And speaking of Fluffy McFlufferson, you don't need him underfoot while your home is full of buyers. Plus, you never know who's allergic.
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Step 5:
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Tell The Neighbors
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It's common courtesy to let them know there may be a gaggle of lookey-loos in their front yards. Plus, it may prompt them to clean up- which can only help you.
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Step 6:
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It Pays To Advertise
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Put an ad in both your city's paper and the local neighborhood rag if you have one. Then, just before the open house, put out signs on your street and larger intersections.
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Step 7:
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Research Like A Realtor
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Buyers will want to know about your neighborhood's school district, crime rate, and public transportation, so be ready to answer these questions. If you're selling on your own, you can find these stats online— or "cheat" and ask a realtor at another open house in the neighborhood.
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Step 8:
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Make Plenty Of Flyers
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Create a 1-page flier about your property. This is how buyers will remember your home, and it's what they'll use to contact you, so have plenty on hand.
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Step 9:
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Be Ready To Sell
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If you've got your agent with you, make sure she's equipped with sales contracts in case you get an offer. If you're on your own, you can buy contracts online or at an office supply store.
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Step 10:
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Chat It Up
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Once your open house is in full swing, be friendly and welcoming to your guests. Make positive small talk about the neighborhood and its amenities. Be enthusiastic, but don't overpraise the place. And if someone doesn't seem interested, let them go, and concentrate on receptive buyers.
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Step 11:
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Relax
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Don't worry about following up with buyers unless someone asks you to. Throwing an open house is a lot of work, and even if you don't have an offer at day's end, what you've learned can get you closer to that sale.
