Why is Short Term Rental Information Important to Know at an Open House?Dec 06, 2022
With all of the events and attractions that happen in the valley each year, from the Phoenix Open to Barrett Jackson, to spring training, investors are in need of finding short-term rentals. With hotels selling out or charging extremely high rates, our out-of-town visitors are in need of places to stay short term.
In order to accommodate this increased number of visitors who are visiting the valley for all of these events, investors are seeking out short-term rental opportunities to purchase. With this high demand of investors wanting to purchase a home with little or no rental restrictions, if you are holding an Open House with those opportunities, making sure your marketing of the Open House includes all of this information is key to attracting a potential buyer to your Open House.
Investors are like any other buyer looking for properties. They are driving around on weekends looking at potential homes to buy. In order to attract all potential buyers, like these investors, marketing your Open Houses the right way is key in attracting all potential clients. In order to market your Open House the right way, you need to know everything about that property, including what the rental restrictions are. Whether it is your own listing or you are holding an Open House for another agent, knowing what the rental restrictions are is a big part of both marketing and running your Open House.
Over 50% of consumers attending Open Houses right now are following Open House signs again. So, knowing this information should not only be a key part of your marketing but also in increasing your lead conversion if a potential investor comes into your Open House by seeing your signs.
There are certain criteria that consumers can't always search online, like rental restrictions or whether or not the home has an HOA, so being sure that if a home has no HOA and no rental restrictions, that information is included in social media marketing and advertising. Also knowing what the short-term rental prices are in the neighborhood is also important to have on hand when running an open house that has potential for investors. Many realtors that hold Open Houses for non-HOA neighborhoods have little or no idea what the rental pricing is and or what the demand or availability is within the community as well.
Open House Masters is a coaching program that offers a 21-day Open House Mastery Course that teaches lead conversion tactics such as these in their course. Being prepared for any buyer who walks in the door is key for converting that potential buyer into a client if they aren't working with an agent.
Marketing an Open House the right way can also dramatically increase the number of visitors who attend as well. Driving more unrepresented clients to your listings and converting them into clients can be done not only with effective marketing but also by running the Open House in a way that creates an environment that welcomes client engagement and conversion. Being prepared with knowledge and information about the community and the house is key for converting those who attend that are unrepresented.