Save Time and Effort: Host a Tour Of Homes

Traditional Open Houses are not effective at selling homes--less than 1% of homes are sold as a result of a traditional open house. Open houses can be a huge waste of both your time and your client’s. In the vast majority of cases, they don't benefit you, the seller, or the buyer.

Instead, give a Tour or Parade of Homes. A Tour of Homes gives buyers the opportunity to view several homes in one afternoon (saving them time), and represents a great way for you to easily showcase several of your listings at once (saving you and your clients time).

Here's how to do it:

Advertise the tour as running during a set period of time—for example between 1:00 and 3:15 on Saturday. Find about 5-6 homes (in a similar price range) to put on the tour, with each home "open" for a specified 10 minute period of time (allowing about 15 minutes between each time to get from home to home). For example, house #1 might be open from 1:00-1:10, house #2 from 1:25-1:35 etc., depending on the distance between each home. Tell your Prospects that they can meet you at any home on the tour during its specified time.

There are several benefits to this approach for both you and your sellers.

• The tour of the seller’s home is over quickly, so they don't have to give up a whole afternoon of their weekend (and neither do you!).
• The tour format will attract a larger number of motivated buyers than a traditional open house, and buyer prospects are generally better qualified.
• Thirdly, a tour of homes tends to set up an auction-like atmosphere, as multiple buyers all viewing the same house at one time tends to create a fear of loss in those buyers who are interested in the home. This will end up benefiting your clients by leading to a faster sale with a higher price.

Even if you currently only have small personal listing inventory, you hold a beneficial Tour of Homes. All you need are a reasonable inventory of homes for your Prospects to view during the tour. There’s no rule that says that those homes have to be your listings.

Ask another agent (or two or three) in your office and if you can "borrow" their listings for the tour. Specifically, ask them if you can hold an open house of some of their listings during your intended weekend.

The agents may ask why you want to do this. Explain to them that it will give you an opportunity to get face-to-face with some prospective buyers. In return for giving you this opportunity, you'll be giving their listings some bonus exposure. You'll find that the agents are usually more than happy to let you do this.