In an industry as competitive as real estate, it may seem counterintuitive to work with other agents. But what many agents are finding across the country is that banding together with their counterparts could garner greater benefits for everyone.
One way to do this is to hold an open house “fair.” When home buyers are looking at homes, they’re likely scouting multiple properties in one day. Presenting multiple open houses in the same neighborhood will entice them to visit all properties – and may even help them make an offer or two!
What is an Open House Fair?
To break it down, an open house fair is a promoted group of open houses in one neighborhood on a given day. It’s a creative way to bring some attention and more potential buyers to your open houses.
Organizing a group of open houses helps buyers know in advance and during a specific period of time when they can visit homes in the area. Instead of making a list and planning out their routes between homes, buyers can benefit from a pre-determined list of properties and their features.
It can also be more fun to take a look at homes when you can follow a map.
They say there is strength in numbers, and advertising with your fellow real estate agents is no different. By promoting your open house fair together, you can split the costs in local magazine, newspapers and postcards.
While social media and email are free to low-cost, you not only have your networks to share the event with but many more.
To make promotion most effective, it’s important to have a template. This will save everyone time creating the message and creating images or graphics while ensuring that each promotion is consistent.
One thing you and your colleagues can do is to assign roles for the open house. Decide on the messaging, name and information that will be broadcast. Then create a promotion “kit” that everyone can use (and, if need be, just change personal information on). Then assign two or three people to create the kit, email, social messages and manage the promotional budget.
Another good area for someone to manage is the budget. This person can be in charge of keeping track of expenses and ensuring everyone stays within the budget.
Make It Easy
Part of the appeal of such an open house is the ability to view multiple houses. Have a map handy of all of the participating homes. On the back, you can include a description and highlight the top features of each property and match it to the house on the front.
When you send out this map in an email, you can create a bit.ly link to each property. This will not only allow people to learn even more and see more photos but will also give you and your fellow agents more clicks on your websites.
Make it Fun
Want to make your open house fair even better? Make it more fun!
One idea is to host a scavenger hunt amongst the houses. Have everyone start at one home then collect a fun fact along the route until they reach the final house. Those who complete the hunt can either win a small token prize (think gift cards from community retailers) or a grand prize contributed by multiple services and retailers in the neighborhood.
Another idea is to hold a celebration at a park near the final home. That way, no one property is holding people longer than the others.
One tip before starting: Be sure to consult with any homeowners’ associations to make sure your open house fair is within their rules.
It’s time to break the barriers amongst agents and get together to get more buyers! By organizing an open house affair, you can get more bodies through your doors and maybe even meet a future client.