Let’s Talk Open House Strategy…

Somethings are done with purpose and others are just “going through the motions”. Usually the activities done with true purpose have a solid strategy behind them.

Unfortunately many agents are just “going through the motions” at an Open House…and their results reflect that.

However a well planned and executed Open House can create astounding results. Both attracting legit demand to the listing and also adding potential buyer and seller connections. Especially in a digital first world, Open Houses are a powerful tool to set yourself apart and generate rapport in person.

So what’s the best Open House strategy? Well there’s not just one, but we’ll cover a few in the sections below.

• Why should agents invest in an Open House Strategy
• The New Agent Open House Strategy
• Brandon Mulrenin’s Two Event Open House Approach
• Tom Ferry’s Mega Open House

Why Invest in an Open House Strategy?

Why should real estate agents choose to invest their time and energy in an open house strategy, you ask?

Open Houses have traditionally attracted buyers to listings, but they also serve broader purposes. While some agents avoid them, preferring to show properties only to serious buyers by appointment, open houses remain valuable, especially in light of the recent NAR settlement.

Over 50% of buyers attend Open Houses during their home-buying journey, and with the new NAR rules, this number is likely to increase, as Open Houses will be the only way for buyers to view properties without signing a buyer agreement. Open Houses also provide agents an opportunity to demonstrate their skills and establish relationships with potential buyers and local homeowners. Given that 68% of consumers choose the first agent they meet in person, this is a significant advantage.

Not to mention that Open House prospects are 100% free. Even if factoring the time it takes to prepare and host an Open House, these leads are far less expensive than other paid lead sources.

Furthermore, an Open House strategy isn’t simply about selling a property and gathering leads; it’s about selling yourself as a real estate professional. Besides connecting face-to-face with potential buyers and sellers, Open Houses provide an ideal platform to establish your brand within the community (see our deep dive on geo farming here).

The way you organize and manage your event, your knowledge of the local market, and how you interact with the neighbors – these attributes set you apart and establish you as a valuable part of the community…as well as a local authority in real estate matters.

A solid Open House strategy can help your business across all these vectors…so let’s get into some strategies.

The New Agent Open House Strategy

If you’re a newer agent and you’re looking to host an Open House at another agent’s listing, this video from team leader, Marc Brenner, is great because it covers all the hurdles that often frustrate agents.

He even provides a couple scripts…for example here’s Marc’s script for agents to ask listing agents for the opportunity to host their Open House.

My name is [agent name] I just saw your listing come up. I wanted to see if you would be open to allowing me to host your house, open this weekend. I have my own signs. I provide same-day feedback and I am very professional and courteous with all of the listings that I host open.

Marc touches on the importance of door knocking the homes in the immediate neighborhood of the Open House too.

He also emphasizes the importance of capturing visitors info at the Open House. If you haven’t already check out Curb Hero’s free digital sign-in:

For getting over people’s apprehension when signing-in, he suggests this simple script:

So glad you could make it. My seller has requested that everyone visiting simply sign in for safety purposes. Thank you for understanding.

His strategy is really well suited for new agents that may be getting starting with Open Houses but below, we’ll get into approaches that are tailored to more experienced agents.

Two-Event Open House Approach

If you’re doing an Open House in your farm try Brandon Mulrenin’s “Two Event Open House Strategy”. In this video he details his system for hosting two distinct Open House events – one that’s exclusively for the neighbors and another that’s open for the general public.

For the first event, an invite-only open house for neighbors, you’re actually not seeking prospective buyers but instead fostering relationships within the community. This is also a great way to get feedback on the property itself. Not all the feedback will be actionable since you’ll be hosting a public Open House the following day, but it’s good to have in case the listing sits for a while.

The Open House for the public is more of the conventional weekend Open House showcasing the property’s unique selling points to potential buyers and their real estate agents.

Here’s a quick rundown of the planning process for the week preceding the Open Houses:

• Monday: start by putting the Open House details on the MLS.
• Tuesday: Create a Facebook Event for your public Open House that weekend. Call neighbors to invite them to the private Open House event on the Friday. Post on your socials and in your Facebook Group if you have one.
• Wednesday: Hand deliver invitations to the private Open House event on the Friday to all the neighbors. The importance of inviting immediate neighbors to give crucial feedback, especially for the private event. Email the public event details your CRM/database.
• Thursday: Use Instagram and Facebook live shows to show the property and build anticipation. This will promote the property, Open House, and let people “see how you work”. Ensuring the readiness of the property for the open house, with all the necessary preparations done by Thursday …this includes snacks, beverages, digital sign-in app and anything else needed for the two Open House Events
• Friday: Host private event. Do an Instagram story before and after the event.
• The Weekend: Host public event. Do an Instagram story before and after the event.

Tom Ferry’s Mega Open House

While “traditional” Open Houses may lack excitement, Tom Ferry’s Mega Open House strategy transforms them into neighborhood events, making them stand out and attract more potential clients. In this recorded session he covers the playbook for holding a Mega Open House and the amazing results that other agents have demonstrated with this strategy.

What is a Mega Open House?
A Mega Open House is a large-scale event that invites both prospective buyers and the community to a property. It’s not just about selling the listing but also about showcasing the agent’s brand and marketing skills. This strategy can be used for any property, not just luxury homes.

Why host a Mega Open House?
Mega Open Houses help maximize buyer demand, attract potential seller clients, build community relationships, and efficiently promote the agent’s brand. However, they may not be suitable for properties with low demand or significant repair needs.

Planning and Promotion
Planning a Mega Open House requires more effort than a typical open house. Key steps include setting a budget, selecting a date, planning entertainment, and organizing logistics. Effective promotion is critical, involving door-to-door invitations, social media, and collaboration with local businesses.

In summary, an effective Open House strategy is a vital tool in a real estate agent’s arsenal, offering unique opportunities to connect with potential clients, showcase your expertise, and establish your brand within the community. Whether you’re a new agent just starting out or an experienced professional looking to elevate your game, implementing a thoughtful and well-executed Open House plan can set you apart from the competition. By investing in these strategies, you’re not just promoting a property—you’re building lasting relationships and positioning yourself as a trusted authority in the market.