How do you go about organizing an open house (virtually) for potential buyers?

[Karl Washington]

New wholesaler and just want to make sure I'm aware of the do's and don'ts when it comes to holding an open house for potential end buyers. Should I do more than one? Should I even hold an open house? Would it be better to just let them come and go when they can? Do I have to let the agent know if there is a lockbox?

Thanks in advance

[David Ramirez]

I don't do open houses. Instead, I filter interested buyers by requesting POF and a soft verbal offer. If the property is vacant, I either send a lockbox to the owner or arrange for the photographer to place it on the property. If the property is occupied, I coordinate a showing with the tenants or owners, provide strict showing instructions, and limit the showings to a maximum of three buyers at a pre-scheduled time.

Find below an example of showing instructions when having a lockbox and when it is occupy without a lockbox: 

Hey -------,

We have some showing rules that we ask our interested buyers to please comply with:

• - The owner's/tenant's name is -----. We kindly ask you to refrain from discussing any financial details or numbers in his presence. 

• - Please mention that you are coming on behalf of --------------.

• - The lockbox code is #. The key opens the deadbolt, not the knob. Therefore, please ensure you do not lock the knob on your way out. 

• - DO NOT SHARE the lockbox code.
  
• - Please advise as soon as you enter and exit the property.

We appreciate your cooperation in following these guidelines and look forward to working with you.

Please acknowledge the receipt of this message.

Best,

--------------------------------------------------------------------------------------------------------------------------

Hey ---------, 

We have some showing rules that we ask our interested buyers to please comply with:

• - Out of respect for the owners/tenants, refrain from discussing any financial details or numbers in their presence
  

• - Please mention that you are coming on behalf of --------------

• - The owner's/tenant's name is -------, he is making an effort to be present at -----, so arrive on time.
• - Please advise as soon as you enter and exit the property.

We appreciate your cooperation in following these guidelines and look forward on working with you.

Please acknowledge the receipt of this message.

Best,