Turn Your Open House Into a Money Making Machine- Part 1

Open houses-Boring? Waste of time? Seller Appeaser? You can turn your open house into a gold mine if you follow my 9 Steps to Open House Success Formula. You can use this program whenever you need to revitalize your real estate marketing results. The benefits of this program are enormous.

• You prospect for buyers
• You prospect for sellers
• You meet face to face with potential buyers and sellers
• You add to your knowledge of a specific area
• You follow up with your current clients
• You add to your database
• You market a listing or appease a seller
• You develop a system you can use over and over again
• You have another opportunity to contact your sphere of influence
• You make money

Step 1 - Choose wisely and by Monday because this program takes the whole week to be most effective. It is best to choose a home that has not been held open before. Curiosity is at its highest level and often times this is your chance to capture that one buyer who is just waiting for a home in that specific neighborhood. Choose a fairly well trafficked area- no third floor walk-up condo's. If you don't have a listing, ask someone who has several.

Step 2 - Become an expert in the neighborhood of the open house. If you haven't already seen the inside, visit the home so you know everything you need to know about the house. See what is for sale in the vicinity. Drive around until you find 10 for sale by owners. Write down their phone number and a couple of notes about each house. When you get back to the office, gather information on everything that has sold in the neighborhood in the last couple of years plus information on everything that is for sale. Find out everything you can about the area or neighborhood.

Step 3- Invite the neighbors. Best to go door to door with an invitation flyer if possible but it can be done by phone. If you can tell the seller how you plan to promote the open house and have him give his approval to you using the following words "Mr. Seller has asked me to invite you to a special open house at 123 Main St, Sunday 1-4. If you know anyone else who might be interested they are invited too. Do you think you will be able come? Great I look forward to seeing you. No-Would you like to receive my special neighborhood update which keeps you up to date on all the real estate happenings in your neighborhood? Yes- Great would you like it mailed once a month or would you like the email version which is updated as soon as their is any activity.

Step 4- Prepare a flyer for the property and an area for sale book. Make sure the flyer has all of your information on it including web site and email. Prepare the area for sale book, include all the properties for sale in the area. Make sure that you include prices that are less than your subject property as well as more. Many open house lookers wander in and think that the price is considerably less than it actually is. You want to have properties for them in the book. The key to this book is that you only make one copy that visitors can look at but must stay at the open house. People almost always want what they can't have. You would be glad to email them a copy or mail it to them after the open house which gives you a much better chance of getting a legitimate address, phone number or email address.

Turn Your Open House into a Money Making Real Estate Marketing Machine Part 2