An open house is an investment.
They can be extremely profitable and a huge source of lead generation, however, you're putting your time and effort on the line. If they aren't done right, they could just be a huge waste of everyone's time.
Here are a few ideas to help get it right.
How to Run a Profitable Open House
Partner with a lender. Lenders are interested in your business as well. If you're getting clients, chances are they will too. Ask them to put out 80-100 signs for your open house—yes, there are lenders out there who will do this. Having them staff it with you also provides better service and safety. have them staff it with you (better service and safety)
Leverage social media. Your entire audience is out there, and you can run some basic Facebook ads to promote the event and send people to your IDX site to capture information.
Sign in. We've had some success with sign-in systems (like Open Home Pro) to capture information and generate potential leads. The investment is worthless, however, without the sales skills to get people to sign in to the open house and then follow up with them post-event.
Be present. The experience at the open house is what matters the most. Work to build amazing rapport with each visitor. Be genuinely curious about where they are at in the process. Don't come across as salesy, but act as a consultant who wants to help. Show you care with your posture and presence. Rather than sitting down on your laptop, show you're present and available.