Open Houses - Possibly the BEST Source of New Business!!!

Open Houses: The Secret Weapon for Realtors

In the ever-evolving world of real estate, one strategy remains timeless and effective: open houses. If you’re a Realtor, open houses should be a cornerstone of your marketing strategy. They’re not just about selling a specific property—they’re a powerful tool for generating new business and building your client base.

Mike Ferrante of the 21 Mike Team at Century 21 HomeStar and Tony Geraci, broker-owner of HomeStar, recently discussed why open houses are a Realtor’s secret weapon and shared actionable strategies for success.

Why Open Houses Are Crucial in Today’s Market

Low Inventory Creates Demand With fewer homes on the market, buyers are feeling the pressure to act quickly. Open houses offer a prime opportunity for buyers to see a home without scheduling a showing, creating urgency and competition.
Buyer Agency Agreements Ohio Realtors have adopted buyer agency agreements. However, open houses remain one of the few scenarios where agents can interact with potential clients without requiring an agreement. This makes open houses an invaluable lead-generation tool.
Immediate Feedback for Sellers Open houses provide instant feedback from buyers, which can help sellers make necessary adjustments to price, condition, or staging.

How to Run a Successful Open House

1. Choose the Right Property and Time

Not every property is ideal for an open house. Pick listings in high-demand areas or homes with unique selling points. Timing is also key—Sundays between noon and 4 p.m. are popular, but always consider local events, such as Browns games, which could impact attendance.

2. Promote, Promote, Promote

Leverage multiple platforms to advertise your open house:

Social Media Ads: Facebook ads targeting a 15-mile radius around the property.
Neighborhood Invitations: Door-knocking and handing out flyers can generate interest from nearby residents who might refer friends or family.
Signage: Use plenty of directional signs to guide traffic to the open house. Tony Geraci recommends 10–20 signs for maximum visibility, especially on busy streets.

3. Turn It Into an Event

Stand out from the competition by creating a memorable experience:

Themes: Seasonal events like Halloween-themed open houses with candy for kids.
Snacks and Drinks: Offer light refreshments to make attendees feel welcome.
Interactive Activities: Consider hosting small contests or giveaways to encourage attendees to linger and engage.

4. Maximize Conversations

Your goal isn’t just to sell the home—it’s to build relationships. Use open-ended questions to uncover whether attendees are serious buyers or potential sellers. A script might include:

“How long have you been searching?”
“Have you made any offers yet?”
“When do you think you’ll be ready to make a move?”

This approach helps identify clients who may need representation or are considering selling their own home.

5. Follow Up with Leads

Don’t just collect names and numbers—set appointments. Instead of focusing solely on gathering contact information, prioritize scheduling buyer consultations or listing appointments. Quality over quantity is key.

Overcoming Objections

For Sellers Who Oppose Open Houses

Some sellers may think open houses only attract “nosy neighbors.” Mike Ferrante counters this by emphasizing that nosy neighbors can be your best marketers. They often know friends or family looking to move into the area and can become valuable referral sources.

For Agents Without Listings

Newer agents or those without current listings can partner with colleagues to host open houses for their listings. It’s a win-win: the listing agent gets additional exposure for their property, and the hosting agent generates leads.

Post-Pending Open Houses

Even after a property goes under contract, Tony Geraci recommends continuing to hold open houses. Let potential buyers know the property is contingent, but welcome them to explore it. This strategy:

Helps secure backup offers.
Keeps the primary buyer motivated and “honest” during negotiations.

The Bottom Line

Open houses are more than just a marketing tool for the property in question—they’re a springboard for growing your real estate business. By creating memorable events, engaging with attendees, and following up effectively, Ohio Realtors can turn open houses into a steady source of leads.

If you’re ready to take your real estate business to the next level, embrace open houses as a core strategy.

For more tips and insights, visit 21Mike.com and connect with the 21 Mike Team at Century 21 HomeStar. Together, let’s make your next open house a smashing success!

For more great Real Estate content:

You can listen to our Podcast FREE BEER AND REAL ESTATE or YouTube for Mike’s weekly classes!!!

https://freebeerandrealestate.buzzsprout.com/