Open Houses do they work?

I recently read an article and the author was VERY adamant that open houses did not work.  I think Open Houses do work if done correctly and "worked" like any other real estate SYSTEM.

I have been in the real estate industry now for over 25 years.  I calculate that I must have held at least 2 open houses a month for at least 15 of those years.  That calculates to be 360 open houses.  With an average of 5 visitors per open house =1800 new prospects.  Now what I don't know is the conversion rate of those 1800 prospects.

When I first started out, I did not have any kind of a business plan or system in place for tracking my business.  What I do know is that I would rather sit at an open house than sitting in an office "waiting and hoping" for the phones to ring.  Over the past few years, the prospects that I have found via open houses have been my main source of business.

I would be interested in hearing what is your main source of new prospects.

Do you hold open Houses?  How many per month?

Here is a link to read some really good Open House Ideas click here to read them.

When holding an open house there is a great deal of planning ahead of time.
            Ad in the newspaper
            Advertise in MLS
            Promote to other Realtors
            Promote to neighborhood and surrounding areas
            Advertise and promote using Internet and Social Media sites
            Place signage ahead if you can
            Place signage day of open house, remove after
            Prepare flyers, brochures for day of open house
On the day of the Open House
            Arrive at least 15-20 minutes ahead of time to make sure home is ready
            Place flyers and brochures in home
            Place a guest registry for sign ins ( or use IPAD Open Home Pro)
            Business cards
            Light refreshments
            Handout with your information
After the Open House
            Be sure to leave house in condition you found it or better
            Remove flyers/brochures
            Remove signs
            Send thank you notes to all guests that left you information
            Call and ask them for feedback
            Enter them into your follow up system
            Ask to show them property

Good luck with your next open house...




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