Important notes* Check your local forms for options for discussing buyer agents with visiting prospects. Follow local MLS and broker rules and regulations and master how to talk to potential customers about your options.
Open houses remain a fundamental pillar of business. NAR reports that 53% of home buyers visit open houses. As a result, more than half of buyers will visit an open house while searching for a property.
Here’s why open houses are worth it.
- It gives you the opportunity to meet neighbors and turn each listing into another great listing. We recommend knocking on at least 50 doors around your open house and delivering open house invitations. You can surround, prospect, call, and invite your neighbors if you wish. If you have some time before the sale, you can mail out invitations. A large portion of the neighborhood does not come unless invited. It’s awkward to walk into your neighbor’s house without actually intending to go shopping. Feel free to invite them.
- You may sell your home to a visiting buyer.
- Pick up leads that haven’t committed to an agent. Open houses are an opportunity to not only meet great buyers, but also, hopefully, find another great seller.
The goal is to leave the open house with as many quality names and contact information as possible. You’ll be there to meet, greet, gather information, and follow up after the open house.
The goal of an open house is to set up one or two appointments with your most promising prospects during the open house.
You may be wondering, “Are weekdays a good time to hold an open house?” The answer is yes. Weekdays are also fine. I want to be strategic with my time. Traffic isn’t always heavy, but your desk doesn’t have a line of sight. You can take your work home with you. It’s like a mobile office, and you never know when you’ll meet potential customers.. If your open house traffic is moderate, you can spend more time engaging with each prospect.
Open house warm-up: As you prepare for your open house, warm up by previewing homes in the area. Research recent sales data. Learn important details about our school and community. Study and practice the script and questions. Remember, the new real estate rules allow you to only provide information that is appropriate based on your relationship with the prospect.
Pre-marketing strategies: Here are some ways to market before your open house.
- Digital platforms: Facebook, Instagram, etc.
- Invite at least 100 people by marketing through door knocks, direct mail, and phone calls to neighbors. Set the minimum standard to 25 or higher.
- Contact prospects and stakeholders who are interested in visiting.
- Send direct mail to business owners within 1 mile if needed.
There’s a saying in the business world: Predictable processes produce predictable results. Use the list below to create your open house go kit.
open house go kit
- Signage and signage strategy
- Sign-in sheet/electronic procedure
- Brochure/electronic brochure you wish to send
- Display of local market information and other promotional items
- Water/snacks as needed
- boots
- measuring tape
- scratch pad
- basic cleaning supplies
It’s finally time for the real thing. Dress a little more professionally than your potential client. Remember, they’re going to judge you in the first few seconds of the open house. The sellers care, so they show up cheerfully and always arrive early. Please be sure to put away your valuables. Turn on the lights and straighten your posture if necessary. Set the material and sign-in area. Stay in work mode even when you’re not engaging with prospects. Eliminate distractions. You only have one chance to make a great impression.
You’ll need to decide where you stand when greeting and engaging each prospect. Treat all guests courteously and as if they were potential buyers. There may be cameras installed or the person may be a friend of the seller, so be careful what you say and do. Be friendly and inviting and give them some space. Not everyone wants to shake hands, so let them take the initiative. Tell them, “Please make yourself at home.” Ask them to sign in and explain why they need to sign in. You should have a menu of questions to practice to get your customers’ attention.
- “I’m curious, how did you find today’s open house?”
- “Did you see many houses in the area?”
- “I think most of the people who come to an open house live in the area and want to check the value of their home, or they are considering buying a home.You can ask them if this applies to you. mosquito?”
- If the customer says they have a representative, but they haven’t registered on the sign-in sheet, ask if they have a signed contract and who that representative is.
- “I’m curious, how long have you been looking for a house?”
- “Have you seen anything exciting or made any offers so far?”
- “When is the ideal time to move to my next home?”
- “What’s important about that time period?”
- “Where do you live now?”
- “Do I need to sell the house to buy it?”
- “Can you describe what your ideal home would look like? Maybe you know something off-market that you can share.”
Start with gentle probing. As you build trust, you can ask more pointed questions. If there’s more than one person in the house, you can decide who gets more attention based on their answers.
Engage and when they are ready to exit, retreat and thank them for joining. If you haven’t gotten your information yet, this is your last chance to get it. Ask if they would be interested in making an offer on this home.
Hook:
“Every day I look for sellers who are not ready to list on the market. Sometimes I come across sellers who have defaulted or who want to sell. Can you text me the information?”
“Okay, what’s the best number to text?”
“By the way, in order to send you only the most suitable products, may I ask you a few more questions about your requirements?”
important: The priority is to make sure you have all the information. That way you can spend more time chatting. You never know when it will be interrupted.
“I have an idea. We’ll get together this week and give you some examples to give you an idea of what’s available. So, I’d like to know more about what you’re looking for?”
“This information will help you find great options for you. How about Tuesday at 4pm?”
“At that point, in order to show you any homes, you will need to sign a contract that will allow me to represent you and advise you on those homes. We only signed a simple contract on Tuesday. This will allow you to try my services and if you would like to see more properties together in the future, we can discuss next steps.
Close open house. Be sure to lock all windows and doors when preparing to depart. Wipe surfaces and pick up debris. Gather the materials and open the house sign. You can then call or text the seller or listing agent with your results and feedback.
Many agents have great open houses but never follow up on prospects afterward. Please don’t do that. You will need to make follow-up plans for open houses for those on your list. Call that night and let them know you’ll be working hard to find new off-market opportunities for visitors from the open house, and ask if they’d like to make a reservation. Consider creating a video thanking people for visiting and sending it the night after the open house. Let them know you can look for off-market opportunities for them. It has a nice personal feel! At the very least, send a text or email and call them first thing the next morning. Be sure to enter all conversation notes into your CRM and add them to your auto-nurture campaign. Even people who aren’t interested in doing anything right away should be added to your nurturing campaign. MIT research on leads shows that 50% of leads are never followed up. Most salespeople give up after 1-2 attempts, and most leads convert between 6-12 attempts.
Continue to follow up consistently with repeated calls, emails, and texts throughout the week.
Debbie De Grote is the CEO and founder of Forward Coaching.
This column does not necessarily reflect the opinion of HousingWire Editorial Department or its owners.
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