Fixing and flipping houses is a fun and exciting business, and when you think about it, it’s a pretty low-risk business. The key to making money in real estate with house flipping, though, is to do it fast. Trying to sell a house that’s sitting on the market going stale can be incredibly stressful and frustrating. Fortunately, though, if you know how to throw a great open house, you can kick-start your sale and get offers on it almost as fast as you can list it.
A good open house can make all the difference for a flip property, but good open houses don’t just happen on their own. They’re carefully planned and executed. Fortunately, that planning and execution isn’t overly complicated or difficult. So, check out my favorite tips for a seriously successful open house. I use these for all of our open houses, and they make all the difference.
Let People Know About It Online and In Person
Starting about a week before you hold the open house, you’ll want to advertise it online. You can do this with social media posts and ads, and you can advertise on popular real estate sites like Zillow and Trulia. At the same time, don’t hesitate to put up signs around the neighborhood telling people when they can come by to check out this exciting property.
Marketing and advertising don’t stop with online posts and neighborhood signs, though. Go around and knock on the neighbors’ doors. Introduce yourself, tell them about the open house, invite them to come by or to bring a friend by, and give them a flier to help them remember.
And don’t forget to put your listing’s URL and all of your social media info on the flier, too. More and more people are sharing this kind of information on their social media pages because they hate having vacant houses in their neighborhood and they want to encourage quality people (like their Facebook friends) to move in next door.
Stage the House
On the day of the open house, you want to make sure that it looks great and that people can imagine themselves living there. Give the landscaping a once-over a day or two before the open house, and then have professional stagers come in and stage the house for the event.
Greet Visitors and Let Them Explore on Their Own
As you get people trickling in to see the house, don’t take up all their time and don’t feel like you need to give them a personal tour. Greet them, give them a handy pamphlet or flier about the house and its features, and then let them explore on their own.
If you don’t have people walking in the door at a steady rate, then you don’t have to stand like a statue in the entryway. Instead, you can wander through the house and keep an ear out for questions and concerns. If a potential buyer looks worried or seems confused, ask them if they have any questions you can answer. Otherwise, wait until they’re ready to leave and ask them then.
Don’t Be Afraid to Ask for the Sale
Finally, as people are leaving, don’t just say, “Bye, have a nice day!” Ask them what they liked about the house and what concerns them. Ask them if they’re interested in buying and what you’d need to do for them to get them to make an offer today. Asking for the sale like this will greatly increase your chances of getting multiple offers right away.
With these tips, you should have everything you need to know to throw a really successful open house. So relax, greet your potential buyers, and have fun!