The number one thing to remember about open houses is that the purpose is NOT to sell the house (don’t tell your client that because the whole reason they WANT an open house is to sell their home). The purpose of an open house for an agent is to collect tons of buyer leads. You still might wind up selling the home to someone who came to the open house, but that’s usually pure luck and not an every day occurrence.

Many agents will claim that open houses are full of “lookie-loos” and “tire-kickers” – people who just came out of curiosity with no intention of making any kind of real estate transaction in the near future. Most agents get impatient, wind up being rude to the “lookie-loo” and discount them. So two years down the line, when that lead decides they want to move to a bigger home, do you think there is any chance they would contact the rude agent they met at that open house? Heck no! So the rude agent just missed out on business because they didn’t want to be helpful to someone without an immediate real estate need.

That is why the purpose of open houses is to collect buyer leads. That is why every single person that comes to that open house needs to be added to your database, tire-kicker or not. And that is why, with persistent and consistent follow-up, open house leads can be some of the most lucrative leads you’ve ever farmed.

We have a ton of information from setting up an open house to how to market it and make sure people show up. Click on the topics below for a step by step guide on how to make the most of your open houses.