1) Prepare the seller and the home: get some great staging tips for the seller here; discuss with the seller when the OH will be and what is expected of them (I will probably end up writing whole post sometime just on this!); make sure that the exterior of the property is ready to invite buyers in, i.e. there is a clear shoveled or swept path to the door, yard is show ready, exterior lights are working and items that may need to be repaired are completed etc; make sure that your sign is correctly placed for maximum exposure.
2) Prepare your advertising: get ads set for the local paper at least several days before the OH! Make sure that the picture of the home represents the property well; and if you can't get a good one of the exterior take a great one of the interior; post on REALTOR.COM and other websites. If possible add it you your website too! Consider using other forms of advertising such as radio or other ways that are appropriate for your marketplace.
3) Get it out on social media: whether it be Facebook and/or Twitter and/or Pinterest get the information out at least the week before and plan on a reminder the day before. Be sure to use lots of great pictures (especially on Pinterest!) Upload a marketing flyer (in PDF format) with the pictures.
4) Let friends and neighbors know: put together post card (with a picture and basic information on the property) and hand it out to the surrounding neighbors at least several days before -- invite them to share the information with friends who may be looking for a home in this area!
5) Let other REALTORS know: make sure everyone who works the area knows of the OH so they can tell their buyers who may be interested.
6) Prepare your materials for the event: develop a sign-in form; make sure you know where is best to put directional signs; put together a property summary sheet with pictures of the property; have a lender help you put together several financing alternatives for the property; get copies of disclosures, previous surveys, utility bills, and have them ready for interested buyers to look at or take a copy of.
7) Let your current and past clients know about the OH: even though they may not be interested, buyers know other people who are in the market and may be interested in that area and that home. And this gives them the opportunity to let their friends know that they are still "connected" to what is going on in the market.
OK...that is a start...more next week...