Use these luxury open house ideas to convert more listing appointments, dramatically increase traffic, and generate more listings and buyer clients!
Today, I’m talking about luxury open house ideas on the RedX Podcast. A lot of agents don’t hold open houses for one reason or another. Lately, the excuse has been “Well, the houses are selling too fast to hold an open house.”
I’m here to tell you that not only is that a bad excuse, but you should be holding two open houses for each listing you get.
VIDEO: Luxury Open House Ideas that Generate Traffic & More Business
Why you should ALWAYS have open houses
I want you to always hold at least two open houses per listing, no matter what. And I do not care if that house sells in 30 seconds.
Why? Well, I have a lot of reasons for this, which I will break down for you in the remainder of this blog.
When it comes to luxury open house ideas, this is key. I’ll talk about open houses, in general, throughout this blog, but the main point comes at the end. (Spoiler: this is going to be key for anyone hoping to break into the luxury market.)
Luxury open house ideas: holding 2 open houses vs. convenient excuses
A house selling too fast is a convenient excuse for not using an open house to lead generate for more business. Or, with luxury, many Realtors claim that it feels “cheap” or their seller simply won’t agree to it. One of the things we teach and preach here at ICC is that all our listings should at least get you one more listing and two more buyers. You must find a way to host at least two open houses, luxury or not.
Use these luxury open house ideas to get more business
Of course, first and foremost, you should always be cultivating and contacting your sphere of influence (SOI) database. But, that being said, you also need to create other pillars of your business on top of that.
The easiest way to generate more business outside of your SOI is through open houses. If you are getting listings, you can multiply them in this way. You can show people how hard you work to sell a house. You aren’t simply putting your name out there. Demonstrate how hard you work. Show it and attract more listings. You do this at an open house.
You have the perfect “flower” to attract many “bees.” At an open house, you will attract:
- looky-lou neighbors (potential future clients)
- home buyers in the market to buy right now
Luxury open house ideas: bring future clients to you
If you are looking for home buyers, you don’t go looking around for buyers. You hold an open house and let the buyers come to you.
When it comes to luxury open house ideas, this is a big deal. If you secure a luxury listing, meeting luxury buyers (and neighbors of your listing) will allow you to tap into this network. Suddenly, you are adding more luxury contacts to you SOI.
As for the looky-lou neighbors, they are the people who are lightly considering listing their house soon. If they know they are about to list their house, and there is an open house in their neighborhood, they check it out. They want to know what this house has, and how it looks, compared to their own house. They also want to know what the list price is.
The untrained agent will hear “Oh, I’m just their neighbor, I’m just a looky-lou,” and let them walk away. The agent who knows better will realize that these are leads, and they will do their follow up with them.
Get the neighbors
Nowadays, companies like RedX provide the amazing service of access to the contact information for various neighborhoods. You can market directly to your listing’s neighbors. This is an incredible tool.
You can take things a step further than traditional marketing, too. You can take the contact information you get, upload it to Facebook, and use retargeting ads (click here to take our online course on retargeting ads) to market to the neighbors on a whole new level.
If you want to make it even easier on yourself, you can use Brand Builder, which is a new tool that RedX just rolled out. A lot of our coaches and clients are getting set up on Brand Builder. RedX, through Brand Builder, can help you retarget ads on social media and market around your listings. This will help you exponentially increase the number of listings you get.
(Thanks for reading our blog on luxury open house ideas. Interested in our affiliate, RedX? You can take advantage of a discount through our affiliate link here.)
Why two open houses?
This is your value proposition — this is what makes you better than the other real estate agents. And, certainly better than the listing going FSBO on you.
You can say, “We do not stop marketing your home to get you the best possible offer until it goes under contract. We will keep negotiating on your behalf and work for backup offers, too. This is why we have two open houses.”
Once the offers start to come in, establishing that the first two weekends will hold open houses gives you time to negotiate. It propels you into meaningful counter offers and multiple offer scenarios. You can really drive the price up this way. It’s powerful for your client.
What will happen to the buyers who do make an offer? They will see 30 other potential buyers walking through the house they want. This really puts the pressure on and puts the negotiating power into your listing’s hands.
You work harder than everyone else
This is everything you must tell your clients during your listing presentation. Show your strategy. Show your work.
If you follow these strategies, you will stand out dramatically from every other real estate agent the client has met. If you explain everything you plan to do to sell their house for the highest possible price, they will be impressed.
New marketing strategy: show, don’t just tell
Instead of constantly marketing your name and trying to get clients that way, attract clients by marketing in ways that add value.
One of the ways you can add value through marketing is by hosting these open houses and inviting the neighborhood. You are effectively marketing and getting your name out there, but you aren’t just sending out a postcard with your headshot. You are showing how hard you are working for your clients.
Every MLS, and some of the top CRMs, provide you with the ability to set up listing e-alerts for your clients, or potential clients. You should set up these alerts for every open house attendee.
These emails are huge value adds. Everyone loves to get these emails. It helps them see the value of their home and compare it to their neighbors’ homes. It’s great for geographic farming for that reason.
Your name is on all these emails. It is you providing this value. It’s an easy way to stay in touch and it allows you to stay with them. You are establishing value, credibility, and creating a relationship.
This is one of the best luxury open house ideas. Suddenly, you begin to build rapport, and these luxury clients are now a part of your SOI.
When you hold these open houses, your goal is to set up as many neighbors and prospective buyers on listing e-alerts as possible. This provides you with an opportunity to do lead follow up with them.
Remember, the more work you put in to serve someone, the more guilt they will feel if they don’t choose you when it comes time to sell their home. The more value you provide, the more likely they will list with you.
The bottom line: luxury open house ideas
If you are trying to break into the luxury market and wonder how you can do it, this is how. If you’re here looking for luxury open house ideas, this is your grand takeaway. Open houses are your gateway for getting into the luxury market.
If you get into a nice neighborhood, you will multiply and take over that neighborhood through hosting a open house. It’s that simple.
FREE DOWNLOAD: Open House Timeline Graphic
This Open House Timeline Graphic is free today for subscribers. See the process, step by step, for hosting an open house to generate traffic and more business.
Want to learn more?
- Read The High-Performing Real Estate Team. You can buy Brian Icenhower’s best-selling book on Amazon.
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