Coaching Corner: Open house or not?
By "Coach" Marilou Butcher Roth
Well, before I type another word I want to celebrate the fact that it is officially spring! Yes, it is here and with that, the market opens up more possibilities as buyers find their way out of the cold. Hopefully, you are taking the steps to obtain more listings for the multitude of thawing buyers out there.
One of the discussions that typically comes up with listings is whether or not to hold the listing open. Both sellers and agents have varying viewpoints on this. Do not assume anything and make sure you have “the talk†with your sellers about open houses.
So let's go with the direction of holding an open house for a listing. How can you plan pro-actively for this event? What do you need to have on hand for prospective buyers that provides valuable information to them? Yes, you are getting the picture -- do not just show up for your open house -- plan it out!
OK, let's think about this from a position of you being the expert and the resource for any buyers that come through. Hopefully, if this is your own listing, you are very familiar with the direct competition of said listing, having even previewed these other homes. If not, you may want to do that before buyers come through. This may not be the house for them, however, with first hand knowledge of the other close by options for them, you will be able to have a valuable conversation with them.
When you are actually at the house, there are different ways that I have observed how agents greet guests and whether or not they stay with them. Generally, you get a vibe of what type of guest you are dealing with. If someone comes in and immediately asks price, etc., they are best left to roam on their own with you positioning yourself in a spot where you can be accessible for questions. If they seem to be asking more questions and move at a slower pace, you may want to actually walk with them through the home. If you are not sure and are not getting any strong signal, ask them!!
Another point of varying opinion is the sign in sheet. If you feel good about using one and get real names and numbers, by all means continue. If you feel uncomfortable asking, you may want to have a conversation with them, providing valuable information and asking questions which lead you to the next best step. Ask them for their information at that time for whatever follow up needs to happen. This can all be very organic -- it does not have to feel forced or uncomfortable!
Be aware of one of the basic questions we are always taught to ask “are you working with an agent.†Consumers are not necessarily tuned into our lingo and may not interpret “working with†the same way that we do. Instead, you may want to pose the question “have you been looking at other homes?†If they give you an affirmative answer, you can then find out if it has been with the individual listing agents or with one specific agent -- this will give you the information you need.
Bottom line -- there is no right or wrong in terms of open houses. Do what fits for yourself and your seller and if you plan to do an open house then PLAN to do the open house!
Marilou Butcher Roth
Marilou Butcher Roth is the owner of The MBR Group, a coaching and training company working primarily with REALTORS who have a desire to work and live from a more inspired place. She is also the Broker/Owner of Group REALTORS in Cincinnati.
Marilou is a member of the Ohio REALTORS Board of Directors and past chairman of the organization’s Communications Committee.
