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How to Make $50K (or More) at Your Next Open House

There are literally so many ways to generate leads in real estate, including on and offline methods.

However, there is one method that has truly stood the test of time and continues to deliver, if done properly, and that’s the open house. When done strategically, amazing results happen, including obtaining listing appointments from the attendees.

Seventy-five percent of all open house attendees don’t get a follow-up from the agent that is sitting the open! This proves the point of one of my favorite quotes: “Opportunities aren’t lost; they go to someone else.” The goal is to convert these open house leads by adding tremendous value. When you show and communicate value, you will get hired.

Follow this proven, easy-to-implement strategy to drive traffic to your open and make your next open house the most productive and profitable 2-3 hours of your week—and, make over $50K just from one open house!

1. Choose the right house. It all starts with choosing the right house to sit open in the right price point. You have to be sitting at a move-up house where attendees will have a house to sell. Choose the right house based on the market conditions—one where there is pent-up demand and low inventory, and where all the buyers will show up.

2. Drive traffic. Post and boost an open house ad on Facebook to move-up communities, which will drive traffic to your open. Send out postcards and call and personally invite the neighbors one hour before the public open house for a private, neighbors-only open house. Send out emails to your entire sphere of influence and invite them or someone they know.

3. Minimize the sign-in sheet. We all know that some open house attendees don’t want to give you their name or contact information—and let’s face it: It is virtually impossible to add value to this new potential client in the first 15 seconds you meet and greet them at the door. So you have to watch body language and listen to emotion to get through the “registration process” of obtaining their information. It’s easy, though, and here is the solution: When they first come in, simply state that “obviously I’m going to need your information; you are in someone else’s home.” Then, if necessary, add, “Don’t worry; I’m not going to call you. I don’t call people who don’t want to be called.” This will diffuse the dreaded sign-in sheet process and allow you to quickly move on to adding value to the new potential lead.

4. Add tremendous value. Once you move them past the sign-in sheet, you can now start giving the tour of the house and asking good, leading and qualifying questions.  Ask where they are going and when they want to be there, will they be selling their current home and at what stage of the process are they in at this time. These questions will help you know how to help them. At this point you want to add value to the process for them. Offer your ability to help them save time and money by having you at their home now, and that you have preapproved buyers that their home may be a perfect fit for.

5. Use a ‘Homebuyer Guide’ or packet. Communicating your value is what you say, but also the visual and printed materials you provide people. Your exclusive “Homebuyer Guide” or packet will set you apart and differentiate you from other agents. Include all the steps in the process, and include mortgage, title, insurance and home warranty information. Also, include information about what you do differently than other companies and agents.

6. Tie down an appointment. Appointments drive sales; you have to fill your schedule with appointments, or you won’t sell or list a home. Ask for the appointment right then at the open house. You can say, “What is better for you: Thursday at 5 or Saturday at 10?” This is strategic in and of itself—it’s not a matter of “if,” but “when” are we meeting…because we are meeting. You have a 90 percent higher success rate when asking for the appointment right then and in-person. Get the tie-down and secure the appointment. When you are in their home, you are one step closer to converting them into a written listing agreement or offer to purchase.

Remember, you are strategically holding this particular house open to generate move-up buyers that have a home to sell so you can secure listing appointments and the buyers. This is a proven method that, when done correctly, can generate five new clients that all have a home to list and will all buy a new home with you. That is 10 transactions and with an average commission per deal of $5,000, you’re looking at $50,000 of potential earnings for you.

For a free copy of my exclusive webinar, “Make $50K at Your Next Open House,” please click here.

Sherri Johnson is CEO and founder of Sherri Johnson Coaching & Consulting. With 20 years of experience in real estate, Johnson offers coaching, consulting and keynotes, and is a national speaker for the Homes.com Secrets of Top Selling Agents tour. For more information, please contact [email protected] or 844-989-2600 (toll-free) or visit www.sherrijohnson.com.

 

Photo by NeONBRAND on Unsplash

2019-05-13T14:14:51-07:00