You've found someone to let you hold their listing open for them, that's great! But what happens next? At Agents4Opens.com, we break it down into what you should do before, during, and after.
How to prepare for an open house
Preparing for hosting someone else's home open is different than when you host your own listing open. Sure, the basics still apply such as a chair, food, water, signs, and advertising, but there are some key differences. First of all, you MUST learn about the listing... and not just what's in the MLS. Talk to the agent and find out the special gems about the house that aren't in the listing description and also find out how and when they want to know the results of the open house. Next, you may want to go and preview the house. This step is easier to accomplish when the house is vacant, but if the house isn't vacant you can still do it. If you need to set an appointment to see the home, let the person you make the appointment with know it's only to preview.
You will also want to check with the agent to see if they have any flyers they want you to hand out about the home, or if you should use something from the MLS.
Advertising. Advertising the open house is crucial. There are some places only the listing agent has access to, such as the MLS and sites like Zillow and Realtor.com, but with the agent's permission, you can advertise the property to all your friends and past clients, you can run social media advertisements, or any other form of advertising you can think of! If you need to use the agent's listing photos, make sure you get permission first as some agents use photographers that have very strict licensing on the photos.
One major concern about advertising another agent's listing is you need to follow any applicable state laws. You need to disclose that the listing is owned by the other agent and that you are hosting the open house. The last thing you want to do is land in hot water for trying to help out another agent!
What to do During an Open House?
Great! The day is upon you and it is time to host the open house. Like with any open house, it is best to get there early, make sure the house is ready and to put out adequate signage to direct people in to your open house.
Once people enter the home, greet them and try to get them to sign in. Show the home and be respectful of the listing. If the listing agent has flyers for you to pass out, then do so.
You will also want to keep a running tally of how many people came through and how many were "window shopping" and how many were serious buyers. Keep track of the feedback you get from the public too. Do they say it's too expensive? Is there something they don't like? Is something about the house or marketing confusing? This is all vital feedback that the agent will want to know.
What Do You Do After an Open House?
Now that the end of the open house has come, you have locked up the house, turned off the lights, picked up any trash, and gathered your signs up. The next thing to do is to let the listing agent know how it went! Now personally, I like the agent hosting the open house to reach out via phone or text as soon as they get back into their car to let me know how it went. The key things to tell the listing agent are how many people were through, how many were serious shoppers and what the overall feedback was. Don't be afraid to put this in an email afterwards too, that can be good information for the agent to take back to their sellers.
And don't forget to follow-up with the people who came through. Work those leads! See if any of them want to buy the home or if they need help finding a home or listing their home. See if they have any friends or family that may need your help.
Most importantly, if you host someone's listing open and the day comes when you can let someone host your listing open... please do so. Remember the help it gave you and pass it on and of course use Agents4Opens.com to post the available listing.