Open house events are some of the fastest and most efficient ways of making a home sale – when they’re done well. Learning how to hold an open house that invites immediate and profitable offers is an essential step on the route to becoming a top real estate agent. Here are some of our favourite open house tips straight from the lips of industry professionals.
1. Brief the seller on staging
The staging of the property may ultimately be down to the vendor, but it’s the job of a real estate agent to offer advice. Be clear about the importance of maximising on both space and light throughout the interiors, and encourage the vendor to remove as much clutter as possible from the property.
On the day, add a welcoming flourish with vases of fresh flowers as well as trays of appetisers and cool drinks to help the viewers relax and move around the property with ease.
2. Try to group viewings together
While staggering viewings throughout the day is a good time-management strategy, it reduces any sense of urgency surrounding the property. The more interest the viewers witness from other parties, the greater the hype becomes and the sooner the early offers roll in. That said, it’s a delicate balance. Make sure you still have enough time to speak at length with each prospective buyer on an individual basis.
3. Have the facts ready
With a steady influx of viewers walking through the door, there won’t be time to consult with the owner on small details. Therefore, be sure to do your research before the open day and determine which questions might be asked of you or the vendor that you need to know how to quickly and honestly answer. Essential facts include lease information, energy ratings, nearby amenities, and scope for improvement to the building.
4. Provide paper details
Time spent face-to-face with potential buyers is important, but each party is likely to want a period on their own in the property. This is what paper particulars are for, providing the basic information buyers need to get an overview of the house.
Paper details are also great for buyers to take away, giving them a reminder of the property and its finer details. You may like to attach your own business card with a direct line on which clients can reach you.
5. Sell the neighbourhood
Open house tips shouldn’t just linger on selling the property; they should also provide a window to the surrounding area. Potential buyers will want information regarding nearby schools, shopping districts and restaurants, so this is the perfect opportunity for you as a realtor to show your in-depth local knowledge. Scout out any events that coincide with your open house date and advise buyers to pay a visit.
With years of experience behind them, Engel & Völkers agents can offer a wealth of open house tips for both vendors and realtors who are just starting out. For more open house tips and career opportunities, head to Engel & Völkers.