Looking for buyers? Hold an open house.

By
Real Estate Broker/Owner with PMZ Real Estate

Back when the market was smoking hot, sellers wanted their agents to hold open houses to bring in the buyers.

Well now the market is smoking hot again, but for different people. With the flood of foreclosures, the banks are the sellers and they are looking for buyers. We may not have the pressure from the banks to hold open houses, but to gain prospects, open houses are a great tool.

Even if you don’t have a listing to show as an open house, ask another agent if you can hold their listing open.

You’ll have a flood of potential buyers at your fingertips that you can match with other properties and prospect.

Have a simple information card that they fill out so that you can contact them later.

Try it a few times. You’ll be surprised at how many prospects you can gain.

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Rainer
19,310
Billie Chubb
Chubb Realty Group - Wilmington, DE

Asking  other agents for open houses is how I started in my business. In the beginning they are your biggest tool in getting buyers and thereby growing your business. I believe it is a little harder to pick up those buyers through open houses now because of the internet, but they can still be a great tool.

Aug 07, 2008 02:06 PM #1
Rainer
32,230
Evelyn Panning
Property Connections Realty Inc. - Alturas, CA

Well, California has been smoking hot (smoke eveywhere from the very hot fires that were burning -- oh, that's another post).  Open houses seem to be a waste of time in my market.  People here will literally walk right past an open house sign and ignore it.  I've never seen anything like it.  When I lived in a more urban area, we would go to open houses to see what was out there.  Here -- no one is interested.  I even stood on a door step once and shouted at a passer by "I have cookies" to get him to come in and look at the house -- now that's desperate. ~Evelyn

Aug 07, 2008 02:11 PM #2
Rainmaker
479,175
Ken Tracy
Charles Rutenberg Realty - Naperville - Naperville, IL
Naperville Illinois Real Estate

Hi Billie and Evelyn.  I like them.  Don't enjoy holding them for others. 

Ken

Aug 07, 2008 02:16 PM #3
Ambassador
665,962
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

I have the most traffic from Open Houses that I decided to do at the last minute.  I didn't spend money placing an ad in the paper (which never seems to work for me).   I'll find a house to hold open, take some paperwork and set up an office for the afternoon so I can be productive even if no one shows.  I'll put out signs and balloons, and people show up!

Aug 07, 2008 02:29 PM #4
Rainmaker
202,310
Mike Jackson
Bradley Real Estate - San Rafael, CA
Realtor - Certified Distressed Property Expert

I closed to transactions this year from holding an open house. It definetly works.

Aug 07, 2008 02:39 PM #5
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Rainer
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PMZ Real Estate

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