In our previous video we discussed the importance of direct mail and online marketing. In this video we discuss the next lead source that I would recommend to Realtors, which is the open house. It is a phenomenal way for agents to meet face to face with customers.



If I don’t have listings already how am I going to get open houses?



The great thing is that we’ve got wonderful internal relationships here at at the My firm, so what happens with the Brokers here is that at each one of our company meetings we are holding open what opportunities we have for open houses. What this could look like is perhaps Jane has a listing and Jane tells Barbara that she can go ahead and hold that listing. So that’s one of the great ways we do it here.



If you’re working somewhere else and you don’t have that network set up you can certainly call other agents and see if they’re willing to let you hold an open house at their property. There’s always opportunities out there we just try to make it a little bit easier here by always promoting the idea that any agent in our firm can hold an open house at one of our properties.



How do you pick the best property to hold an open house at?



That’s a question that every agent should ask, not just you know can I identify the open house and where can I hold it, but which one’s going to get me the best return on investment? The first thing that I start with is, is it an area that you love you generally as a human being? As a salesperson you will perform better when it’s something you’re generally happy about and it’s an area that you like.



I would also look at what the traffic count is in that area, how many people do I think might be able to come by? That’s a key component. You might find that you’ve got an enormous traffic count if your property is right on the highway, but nobody can stop from 80 miles an hour so that probably is not going to be your best opportunity. You might find a community that’s very well received, but this listing is tucked way in the back of the community and that might not be a very easy one to bring people into. We want to find something that’s easy to access so you have the best opportunity to bring a lot of buyers into that listing and have more conversations and more face-to-face meetings.



How should you best prepare for an upcoming open house?



Preparation is key so you want to prepare for the open house by learning everything that there is to know about the product, and understand that the product expands beyond the home. Certainly you want to know about all the features, amenities, and benefits of that home but you also want to know about the community and all of the amenities that the community has to offer beyond that.



You also want to know where do things generally trade in this community, what are the prices in the community, how quickly do properties trade? Everything here is about your education on the product because you’ve got a prospect in front of you that you’re meeting with and now is your time to shine. In order to do that you need to have a proper education on what your product is beyond product knowledge.



What are some key components to a successful open house?



You’re geared up for the open house, you know everything that there is to know about that Community, but again it’s not going to do you a bit of good if nobody walks in that front door. So the next step on the agenda is going to be marketing for that community. There are a ton of ways that you could market an open house,