How to Host Events That Will Generate Business

©FilippoBacci / Getty Images

For many brokerages, hosting real estate events are a necessary way to bring in business.

“Events are everything—they allow us to engage with the community, and we are nothing without our community,” says Isaiah Hazward, managing partner, The Homebound Group at Coldwell Banker Realty in Washington, DC.

The logisitics of hosting a real estate event are less important than what comes after, though. Instead of getting bogged down in event planning, agents should focus on post-event follow-up. That’s the step that leads prospects further down the sales funnel. Still, a successful event involves some planning.

Here’s how to plan events that will catalyze sales.

Create an Event Schedule

For efficiency, stick with the same event formula each year. That way, you’ll be able to plan your events budget, and your sphere of influence will know what to expect. Don’t worry though: you can still build fun and surprise into your events so that the schedule doesn’t feel stale.

• Add novelty: Hazward hosts four large annual events: a spring brunch, summer BBQ, fall get-together and winter holiday party. But he switches up the concepts. One year, his holiday party took the form of a masquerade ball. For another, he used the Reniassance as inspiration.
• Be current: To spark more interest and make things relevant, pick themes inspired by current events and trending search terms, Hazward suggests. He’s tied events to an upcoming election or Beyonce concert tour.
• Incorporate charity: Further distinguish events by raising money for a local nonprofit. In advance, poll invitees about which organization they’d like your event to support and emphasize how attendance will help elevate a cause.
• Plan follow-up sessions: You’ll be top-of-mind for those who attend an event, which means they’re more apt to attend things you plan in the near future. Schedule an educational seminar for a month after each event. Make sure you keep the topic relevant to the audience and aren’t repeating previous seminars. To differentiate yourself, discuss real estate investment rather than the ubiquitous topic of first-time homebuying, recommends Ben Schachter, broker and president of The Signature Real Estate Companies headquartered in Florida. For instance, cover becoming an Airbnb host or the process that’s involved when purchasing new construction.

Control Expenses

Schachter aims to cap his per-event cost at $200. April Harrington, on the other hand broker-owner at EXIT Real Estate Experts in Old Hickory, Tenn, hosts nine large events each year and spends about $10,000-15,000 on them in total. What you’ll budget for spending should depend on the return. Think about what kind of revenue each event type should bring in, and plan around that to ensure a profit. Consider ways to save on costs as well.

• Get co-sponsors: Invite businesses, like title companies, appraisers, financial advisors, and real estate attorneys to co-sponsor events or portions of events. Vendors have covered hors d’oeuvres, balloons, and champagne toasts for Harrington’s events.
• Save on the venue: For a large event, book a hotel ballroom for an off time, like a Tuesday—there’s a good chance you’ll nab the space at a discount, says Schachter.
• Reuse: Host open houses two days in a row (Saturday and Sunday), so you can reuse some of the flowers, drinks, decorations, and even unopened or unused food products where it makes sense.
• Avoid waste: In general, only 40-50% of RSVPs will attend, says Harrington. So, order accordingly, rather than overspending on food and drink.

Boost Attendance Numbers

Getting people in the door is the important part, and it can be tricky. Increase your odds with a combination of marketing, PR and sales.

• Spread the word: Post events on Eventbrite and promote them on social media using popular search terms. Also send press releases to local media.
• Personally invite people: “Make sure people know you want them there,” says Harrington. Reach out via text, email and phone. For open houses, Schachter tells his agents to leave postcards or Post-it notes at the 100 homes closest to their listing. They should mention they stopped by to invite each homeowner personally.
• Send reminders: Email or text a save-the-date 60-90 days out, says Hazward. Then, provide event details 30-60 days out and a reminder to invitees who haven’t RSVPed one month out. Finally, send reminders one week out and the day before the event.

Capture Leads

One of the main purposes of hosting events is to build your database. But it’s too easy to come away open-handed or with incorrect names and phone numbers.

• Require attendees to register: “Capture as much data as humanly possible,” suggests Hazward. Invite each person to bring a guest looking to buy, sell, or rent and ask for their contact information as well.
• Conduct an in-person giveaway at events: To enter, guests need to provide their contact information.
• Verify phone numbers: At open houses, suggest agents not only rely on sign-in sheets. Instead, they should offer to text guests their contact information on the spot, suggests Schachter.

Don’t Neglect Follow-up

Your agents might be tired after hosting an event. But they shouldn’t rest until they’ve completed this crucial step.

• Say “thank you”: Within a couple of days of each event, send a follow-up note, suggests Harrington.
• Share event photos: Post pictures on social media and in your email newsletter. Send them to people directly when you can.
• Talk real estate: Invite attendees to your upcoming educational session (see above) or to schedule a one-on-one real estate consultation with you.

Events raise your brokerage’s profile within the community and help you become better known. They also provide you with a roster of people that you can then turn around and share with your agents. Remember: building a database that leads to revenue and establishing your brokerage as a community pillar should inform how you plan and run your events.