Winterizing your Real-estate Business #3 – Hold Two Open Houses per Week
by Rick Guthrie
Thanks for coming back to my blog series on winterizing your real estate business. Today’s blog is strategy number three, hold two opens per week. Now of course were talking about two open houses per week. Typically we’ll see agents hold two open houses per month. Remember we’re going to, at least, double our efforts. Holding two open houses per week certainly does that. It’s not surprising that holding homes open is quite prosperous and a successful way to lead generate. To increase our open house results, we need to increase our frequency in holding open houses. My recommendation is that you hold a minimum of two per week. Consistency is the key here. Make a conscious effort to commit, plan, strategize and implement, which leads to holding two open houses each and every week until spring.
I want to make you aware of three myths surrounding open houses.
Myth Number 1: You can only hold homes open on the weekends.
Myth Number 2: You can only hold one open house per day.
Myth Number 3: Buyers are the only ones that attend open houses.
Let’s start with Myth Number 1: “You can only hold homes open on the weekend”. The question that I would ask is, “do you think you would be positioned better to get more traffic from an open house if there were more homes being held open in a day or less homes being held open? The answer of course is you would get more traffic if there were less competition from other homes being held open. That’s why an open house during the week is very strategic to get you more traffic. Also, you will find people are available and will attend open houses that are held during the week. In Northern Virginia there are several large companies that allow their employees to work from home on Mondays and/or Fridays to cut down on commuter traffic. These would be two great days to hold opens. Also, the military allows their newly transferred members 10 days of permissive TDY (temporary duty) to house hunt. Try a couple of opens during the week.
Myth Number 2: “You can only hold one open house per day.” I’ve found that the majority of people attend open houses within the last 30 minutes of the home being held open. So if you hold a home open from 1 to 4 the majority of your attendees show up at 3:30. So why not hold one open from 1 to 2, take a short break, then hold a different home open from 3 to 4. Make sure you invite attendees from your first open house to your second. Wow, they can actually follow you over! This is a great way to rapport build and to ensure maximum traffic in both homes as well as make the best use of your time. The second open house may be a great place to have refreshments so you can spend more time with potential clients. Make sure you tell the folks from the first to show up at the second because you’re having refreshments.
Finally Myth Number 3: “Buyers are the only ones that attend open houses.” This is just simply not always the case. It’s so important to learn your scripts and dialogs and ask the right questions as people walk through the door of your open house. I have found a good greeting to start off with may sound like this; “What brings you folks out today?” You may hear, “We just wanted to see the home” or you may hear, “We’re thinking about selling our home and we wanted to compare ours to this one”. Sometimes people are just looking for their friends and family. This provides you the opportunity to create another relationship and provides you with another database entry. Either way you have a future client. The important thing is that you ask questions, come from a point of curiosity and get that new contact in your database as well as help them in any way that you can.
In closing, we talked about how important it is to hold two open houses per week to increase your business through the winter time. We’ve also talked about the three myths commonly surrounding open houses.
Quick tip: Have your sellers really decorate for the holidays. Buyers can visualize themselves in a holiday home.
Thanks again for following my blog and as always you have a great month today.