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 Developing a Property Marketing Plan Listing and Marketing Checklist Marketing Media To Consider Advanced tip Property Advertising Techniques Advanced tip Advanced: Getting the Most from Your Advertising Dollars Online Property Marketing Advanced tip Conducting Open Houses Advanced tip Advanced tip Alternative Selling Options Advanced tip Complying with Fair Housing Broker tip Property Disclosure Broker tip Common Property Hazards Broker tip Advanced tip Property Marketing Quiz Bright Ideas: Property Marketing More Resources: Property Marketing Code of Ethics: Property Marketing |
CONDUCTING OPEN HOUSES According to The 2003 NATIONAL ASSOCIATION OF REALTORS®' Profile of Home Buyers and Sellers, open houses are the fifth most important source of homebuying research. For the Advanced Salesperson Not every home needs or will benefit from an open house.
Preparing for a Successful Open House
TIP: As soon as the listing is signed, work with the sellers to develop a list of repairs and cleaning they will complete by the open house. Give a deadline several days in advance of the open house date. Call sellers the day before their deadline. —Barb Schwarz, author of How to List and Sell Residential Real Estate Successfully. TIP: If sellers are resistant to making repairs, explain how much more they will realize if the house sells rapidly and at full list price. 10 Tips for a Successful Open House 1. Don’t be a chatterbox. Greet your visitors, give them your card and a property brochure, and allow them peace and quiet while they tour the home. 2. Be honest about the home’s features and improvements. A seven-year-old roof isn’t “new,” although the owner may describe it as such. Many owners think any improvement they paid for themselves is “new,” even if it was made more than a decade ago. 3. Don’t drop vague hints about offers having been received for the home if that’s not the case. When the truth later comes out, the buyers may feel manipulated and back out of the whole transaction. 4. Make copies of presale home and termite inspection reports available to prospective buyers along with estimates of the costs for any needed repairs or fumigation. 5. If your state requires a disclosure form, have it completed ahead of time, and make copies available to prospective buyers. 6. Display photographs of popular neighborhood amenities (e.g., local parks and recreation center). 7. Have comparable sales data available. 8. Give visitors property information sheets with important facts about the home and the community. Examples include a flyer highlighting the home’s features, summaries of room size, lot size, taxes, and assessments; and a map showing the location of schools, hospitals, public transportation, libraries, supermarkets and other services and retailers. 9. Ask visitors for immediate feedback about the home. 10. Use a guest book to collect visitors’ names, telephone numbers, and e-mail addresses. Follow-up with a telephone call or e-mail after the event. Keep It Legal: Some calling activities of real estate professionals need to comply with the requirements of the new National Do-Not-Call Registry after Oct. 1, 2003. Click here to learn more about the registry. If you are unsure about how the new rules will impact your telemarketing activities, it is recommended that you consult with your attorney before taking any action. TIP: Schedule several back-to-back open houses on a given day. Schedule some weekdays. Customers who frequently transfer may consider house hunting work and may prefer to do it during the week. –Real estate columnist Danielle Kennedy, International Speakers Bureau, Dallas TIP: Don’t forget to turn off the lights, close the drapes, remove the guest book and brochures, and lock up before you leave. Conducting Open Houses, next page >
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Keep It Ethical Avoid misrepresentation or concealment of pertinent facts about a property. Article 2 and Article 12 |