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Practice To Perfect - Open Houses

When it comes to Open Houses the opportunities are limitless! When there is an opportunity to leverage open houses to generate buyer and seller leads for your business you should take it! Just like any lead generation activity that we use in our business we need to prepare, execute & follow up!

When it comes to Preparing for the Open House we must first decide the what & the where! Are we wanting to dominate a FARM in a particular city? Is there a price point that we want to stick to? Are we wanting to work with homes for First Time Home Buyers or is there a Luxury Market we want to dominate in?

Once you know those pieces now it's time to find the open house opportunity. Do you have a house coming to market that fits your lead generation strategy? Is there an agent in your brokerage who happens to have a home coming up that you could host? Or is there an agent in your MLS who has a home that you can hold open for them?

Now that the home has been identified its time to prep for the open house! We need to door knock the area & invite the entire neighborhood! Plan our open house directional arrow's to direct as much traffic off the streets as possible. Get as familiar with the area as possible including finding out what homes have sold for in the area recently. Also we need to get all advertising materials printed as well as all social media pieces created.

When we are at the Open House it isn't enough just to hope someone is going to raise their hand & ask us to be their Real Estate Agent. We should have a set number of people we are going to build a relationship with at the open house so they feel comfortable giving us their info so we can follow up with them afterwards.

There is a lot of time & energy that goes into an Open House. You have to find the open house, prepare for the open house, create the marketing, set up flags & directional arrows, host the open house, clean up after the open house & follow up with the leads. This will add up to many many hours of work. You should have a clear game plan & goal to make all of these hours worth your time. This is Lead Generation & if you are not going to be purposeful I'm sure there are other things you could be doing with your weekend!

Check out this example of activities & what day you should be executing so you can have the most successful Open House as possible!

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