Get Real Estate Seller Leads with Open Houses – A Great Way for Realtors to Find Motivated Sellers
Hey realtors! Did you know that open houses are actually a great way to build your real estate business? And when we are talking about open houses, what most people don’t really understand is that an open house is not necessarily held to sell the house; it’s also to find new sellers. Open houses are one of the best real estate marketing tools when it comes to lead generation and prospecting.
Here’s what happens. As a realtor, you have inventory that you are showing off each time you have an open house. You are sending a message to potential sellers by saying, “Choose me as your realtor if you are thinking about selling.”
When most sellers start to think about putting their home on the market, they start off with many questions. The thought process often goes: “I think we ought to sell, but I don’t know where we are going to move. I don’t know what we need to fix up. What type of things are we looking at in a new home?” So sellers have a period of time that we call the ‘educational spectrum’ where they start thinking about what goes into selling a home and educating themselves.
Prospective seller leads look at homes before they call a realtor
One of the things sellers do, obviously, is look around at homes. They go online but, more than anything else, they like to look at real estate. They like to walk through homes. So a lot of times what happens when you have an open house, you’ll have those neighbors, the prospective seller leads, within a circumference of the home (probably 100 homes surrounding it) who are thinking about selling their home and they would like to just check it out. They want to see what’s out there, see what other real estate is available in their community and what type of fix-ups are happening, so they have a better idea about what to do when selling their home.
So as a realtor, when you host an open house, what happens is that now you get those prospective seller leads mostly from that surrounding community, within that neighborhood. But you’ll also get some sellers who come from out of town, or other neighbors who are actually looking, and it gives you a chance to meet those people thinking about selling.
Open houses give realtors the opportunity to start prospecting early
Most importantly, it gives you a chance to meet motivated sellers before they have engaged with another real estate agent. They are what I call “free seller leads.”
That’s really the purpose of an open house for realtors. It’s one of the key real estate marketing strategies available to you as a realtor. It helps you find seller leads so you can get listings, find motivated sellers, generate real estate leads and, overall, build business.
Open houses are one of the best real estate marketing tools for finding motivated seller leads
I have a quick story to tell you about one of the clients we are working with. Actually, several come to mind, but I want to tell you about one. We are helping him do geographic farming; he’s been mailing real estate flyers, including just listed postcards and just sold postcards, into this neighborhood. He’s been making sales and getting listings. And he told me that every time he would get a listing, he would hold an open house and always pick up at least one if not two more listings just from the open house of other homeowners thinking about selling and wanting to check out what is going on. Open houses are the secret of how to get leads in real estate.
So that’s really the purpose of the open house.
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