Open House Failed Miserably
I had placed a rent to own ad for a small house I own that is located about 20 min. from my house. I had told the callers that I would be having an open house next Sat (which was Today) at 11:00am if they wanted to view it, this is the first time I have tried an open house. I recieved about 8 positive responses. On the way to the house I stopped at Dunkin Doughnuts and picked up a box of joe and munchkins. I set up a table with the goodies on it and started puttering around, hung up my OPEN HOUSE flag on the front porch and waited . As I waited by myself the responce of a realtor was ringing in my head when I had asked her why they dont have open houses "Up Here". She said "Nobody comes to them". Well live and learn. After my 4th cup of JOE and half a box of munchkins later ( I dont even like doughnuts) I realized that she was right. Just because open houses are convienent for owner and prospective renter and that they had worked for me everywhere else I had lived didnt mean they would work here because they are not the norm. I think that my fatal mistake was the use of the word open house. As strange as it sounds in Northern NH they dont have open houses. I waited an hour before throwing in the towel, packed up my crisp new flag to be filed away never to adorn a flag pole "above the notch".
How long did you advertise in the paper?
Krispy Kreme donuts are so much better...yum.
...I wouldn't give up on the open house idea though...
[addsig]
I have read to do "Group Showings", over an open house. It may just be a matter of terminology, but I think if you set an appointment for someone, there is a better chance of them showing up. It just may happen that all 8 show up at the same time to create a little competition, thanks to your booking. Now, I have not tried this yet myself, but looking to do it next Saturday.
A see a couple of things here.
One, if open houses simply aren't done there, then don't do them. If people are calling on your ad (and it isn't about the open house) don't make them wait. Someone above mentioned group showings instead of "open houses" and it works. the trick is that you need multiple days during the week. If someone calls on Monday interested in the house, they aren't gonna want to wait to Saturday to see it, tho they might wait until Wednesday. I'll say something to them like, "I was going out there Wed. would sometime between 5-6pm be good?" Any one who calls Mon thru Wed gets about the same response.
BTW, you don't necessarily want everyone there at the same time, but it looks good to have them see someone else either coming or going.
Two, you never want to have food or drinks available. The whole viewing should be about the property, the financing, and the potential buyers. Have applications (and pens) laid out, flyers on the property, schools, area, etc.
Roger
I started running the ad this past Mon.
I will have to take your word RE Krispy Kreme doughnuts, we do not have them here yet but the franchise rights in this area have already been sold ( I looked into it ) so they are on there way.
I have had refreshments at past open houses (below the notch) and it always worked out well.
I agree that the "open house" thing must have scared em away.
Moving to a new state can be tough, especially when you just finally figured out how things worked in the old one
I like doing group showings and you are right a little competition is good. But you may want to do an open house if there will be others offered in the neighborhood by owners and real estate agents. This will increase your buyer pool.
I agree with points made by MichaelChandler and Roger. Food can be a distraction, like music and TV's that are on. It should be all about the property. Running an open house in tandem with other open houses in the same neighborhood--"piggybacking"--is a great idea and is often done in my area. Generally, increases traffic for everybody hosting those open houses.
if the locals do not like open houses how "they" view houses they want to purchase in northern NH? On VHS tapes FEDEX-ed to them? Trust the seller story over the phone then mail the check to escrow?
I am all ears!
Your open house experience was not much different than that which is experienced by Realtors, They may use it to get prospects for other homes, but it isn't very effective for the house open for inspection..
When I have one for occupancy , I interview over the phone. If I ike what I hear, I don't have any problem with meeting them at the house.
If you want to see a house you have to make an appointment with the owner (if its a FSBO) or a realtor and if it is a co-broke the listing broker will be there also in order to open the place up. No lockboxes used. Its like Realtor Hell.
Yeah, it's hard to sell. I had the same problem before I spent about $37,000 for diferent courses. Charged up on my VISA and MC , so it came as no money down deal... fine stuff...already paid back.
NH is a bit to conservative for my taste but everyone like free parties. Maybe you should try John Locke's trick with balons and helicopter? Reed his article. Is in his profile; then buy all the books you like in the TCI SHOP... You see, Buffalo Jerky works better in my aria then fattening donuts.
How about in your aria NancyChadwick? What do you guys like in PA?
DealerJo,
People in my area rarely turn down food at open houses, particularly when it's free. However, I think it was Roger who said (and I agree) to skip the food. Let them focus on the property.
When you are planning on doing a group showing make sure you are the only one that knows that it won't be exclusive w/ any particular (possible) buyer. It is good to set up appointments and try not to set them on the hour. Make an appointment for 2:10 in the afternoon or something like that. People that say they are interested in seeing the house are much much more likely to come if they have an "appointment." They don't want to embarrass themselves by not showing up.