Open Houses Showcase YOU
And Your Clients' Homes
Open houses offer the opportunity to generate leads while seeking buyers for homes you have listed for sale.By knowledgeably and intelligently discussing specific features of the property and its neighborhood, you can showcase your technical competence.
Showcase Your Best
Interacting with visitors allows you to demonstrate your skills as a real estate agent.By observing you and how you interact with others, visitors develop an impression of who you are as a real estate agent and how you help clients.
Once satisfied that you can help them as clients, these visitors are more willing to take the next step and become your clients.
As an added bonus, if their overall impression of you sufficiently favorable, they may even be prepared to refer prospective clients to you.
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Demonstrate Your Competence
This is the combination of knowledge and skills that makes you a good real estate sales agent.Three categories of knowledge and skills contribute to your overall competence.
1. Real Estate Specific
This
is the
knowledge that you gained to qualify for your license.
It also refers to the skills that you develop on an ongoing basis through continuing education courses and programs.
For the most part, your knowledge and skills are comparable to other equally qualified real estate agents.
It also refers to the skills that you develop on an ongoing basis through continuing education courses and programs.
For the most part, your knowledge and skills are comparable to other equally qualified real estate agents.
2. Market Knowledge
Going
deep means
knowing everything there is to know
about your niche market.
A better than average knowledge of your market will enhance your personal brand and help distinguish you from the competition.
A better than average knowledge of your market will enhance your personal brand and help distinguish you from the competition.
3. Personal Skills and Attributes
These
are the
characteristics that prospects look for in selecting a real estate
agent.
The higher your competence, the more clients will trust you. Conversely, the lower your competence, the less they will trust you.
Your personal skills and characteristics contribute to both your personal brand and brand promise.
In the simplest of terms open houses allow you to attract prospects instead of chasing leads .
In terms of prospecting, it doesn’t get much better than that.
The higher your competence, the more clients will trust you. Conversely, the lower your competence, the less they will trust you.
Your personal skills and characteristics contribute to both your personal brand and brand promise.
In the simplest of terms open houses allow you to attract prospects instead of chasing leads .
In terms of prospecting, it doesn’t get much better than that.
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Benefits
of Open
Houses
-
No
cost to connect with prospects
- marketing strategy for properties listed for sale
- attract people who might be interested in buying or selling comparable homes
-
No
advertising clutter
- less competition for prospects’ attention
- can focus on learning more about prospects' need and want and how to help them
-
‘Show-and-tell
marketing’
- can demonstrate your knowledge and understanding of the local market
-
Interactive
in-person communication
- you can start to develop a relationship with prospects
Drawbacks of Open Houses
- The primary responsibility is to the seller
- your responsibilities to existing client take priority over prospecting for new clients
- Time
limitations
- if the event is well attended, there may not be enough time to identify and make meaningful connection with prospective clients
- Time consuming
- planning, conducting and following up after these events can consume a huge amount of time...might not be best use of time
- Limited focus
- focus only on currently prospective buyers and ignore ‘tire-kickers’ who represent possible future prospects
-
Security concerns
- whenever strangers are present, there is always the risk of theft of the owners' possessions
What Agents Say:
“...after almost 15
years, I still go
back and forth with this issue.
“In the past I've done the first open house on my listings.
“I've picked up new listings from the neighbors. They usually come to the first Open House to see the competition.
“It would give me a good 'no pressure' interview opportunity.
“In the past I've done the first open house on my listings.
“I've picked up new listings from the neighbors. They usually come to the first Open House to see the competition.
“It would give me a good 'no pressure' interview opportunity.
Connie
Harvey
Prudential Woodmont Realty
Nashville TN
Prudential Woodmont Realty
Nashville TN
“Generally
speaking, I
think most agents aren't enamored with open houses.
“That being said, sellers usually love them, and that's what it's all about.
“Taking care of your clients.”
“That being said, sellers usually love them, and that's what it's all about.
“Taking care of your clients.”
Richard
Iarossi,
Long and FosterŪ Real Estate, Inc
Crofton/ Annapolis MD
Long and FosterŪ Real Estate, Inc
Crofton/ Annapolis MD
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“Agents
need to determine
if holding these events is an effective use of their time and
efforts.
“You would get better results if you spent the same amount of time knocking on doors in the neighborhood.”
“You would get better results if you spent the same amount of time knocking on doors in the neighborhood.”
Roy
Kelley
RE/MAX Realty Group
Gaithersburg MD
RE/MAX Realty Group
Gaithersburg MD
“There
is no online
experience like walking into a clean, fresh, cookie smelling Open
House.
“Touch and smell are senses that many people do respond to and Online has yet to offer it.”
“Touch and smell are senses that many people do respond to and Online has yet to offer it.”
Gail
Tassey
South Austin Real Estate
Austin TX
South Austin Real Estate
Austin TX
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I've
sold 2 properties from
open houses, but by and large, it's a lead generator only.
Terry
Chenier
Keller Williams Valley Realty
Mission BC
Keller Williams Valley Realty
Mission BC
"One
thing my team does
is...not only market the Open House effectively (we hope) to buyers,
but also to other Realtors so that they can send their clients
through our house...
"In the hopes to create a sense of urgency in some of their buyers...for my sellers...
Last we we had a couple write an offer on the property right after the Open House...just because 4 other couples were in the house at the same time as they were...
"Action does come from them...on the right property!!!
"In the hopes to create a sense of urgency in some of their buyers...for my sellers...
Last we we had a couple write an offer on the property right after the Open House...just because 4 other couples were in the house at the same time as they were...
"Action does come from them...on the right property!!!
Ryan
Gonch
Keller Williams Realty Capital District
Latham NY
Keller Williams Realty Capital District
Latham NY
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“...I insist that the owner put
all
items of assumed
value in a lockbox or their dressers - out of sight!
“I also escort any visitors throughout the property leaving no one behind; should a new person come in, I "invite" them to join the tour!”
“I also escort any visitors throughout the property leaving no one behind; should a new person come in, I "invite" them to join the tour!”
Eilean
Foster
Keller Williams Realty Atlantic Shore
Egg Harbor City NJ
Keller Williams Realty Atlantic Shore
Egg Harbor City NJ
“There
is always the
chance that you maybe targeted by these criminals.
“You have to take control and if you need to close the open house temporarily . .it should be done.
“I know "junkies" want to raid the medicine cabinets and they ask you if they can use the restroom. “
“You have to take control and if you need to close the open house temporarily . .it should be done.
“I know "junkies" want to raid the medicine cabinets and they ask you if they can use the restroom. “
Fernando
Herboso
Key Realty Group
Maryland, DC
Key Realty Group
Maryland, DC
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What Do You Think About Open Houses?
The agents' comments set out above are just of the comments made in response to my 2 blog posts about open houses:To read the blogs and more comments, click on the links.
To leave your own comments, complete the form below.
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