This is inspired by a post by newbie blogger, Eric Hempler.  It's right here.   And he talks about holding other agent's listings open (until he gets a bunch of his own).  Eric's blog reminded me of an experience very early in my career.

My first Open House was memorable, because I let one of my office's old timers totally take advantage of my newbieness.

Oldie Agent approached me at a sales meeting and said she had this really great condo and she needed help with an Open on Sunday afternoon.  And I was chomping at the bit to put into action all of the wonderful stuff that I learned at the old Shannon & Luchs Academy of Real Estate.  

God I'm dating myself!

It was an ungly condo in a building that didn't allow pets or overnight guests.  They didn't allow Open House signs out front or cards by the entry buzzer telling people how to get into the place.  It was a bust.

Rule Number One:  people have to be able to find you and come through the door!  I mean, du-uh!

If y ou're a rookie agent, holding other agents' listings open is a great way to connect with prospective clients - both buyers and selelrs.  Here are some ways to make the most of the opportunity:

  • Be picky about what you hold open.  It should be an attractive, well priced and well staged property.  Before you say yes, preview the place.  If it's ugly, overpriced or in an obscure location, pass.
  • If it's a condo, be sure that it's easy for buyers to get in the door and find you.  If they make it hard, take a pass.
  • Before the Open, preview as much as you can in the neighborhood and in the price range in simillar neighborhoods. Most of the people who come in will find something that won't work about what you're holding open.  If you can converse intellegently about other possibilities, you have a great chance of converting lookers into clients.
  • Review all of the neighborhood's recent sales.  
  • Put Open information on your MLS, Craig's List, Trulia, and everyplace you can think of on the web.  It's where the buyers are looking.
  • An Open House afternoon is not the time to be subtle.  Put up tons of signs and, unless they are illegal in your area, use a bunch of balloons.  Invite them to a party, and they will come.
  • Ask people if they are working with an agent.  If they are, get their agent's name to pass onto the listing agent.  Don't flirt with other people's clients. 
  • Don't ask for names, email addresses or phone numbers until they've seen the house.  I start with a schmooze, let them go through, then engage them after we've had some back and forth.  Then you are more likely to get a real name and contact information.
  • If they are asking quetions you can't answer, that's great!  Tell them you will get the information and get back to them.  You've just greatly increased your chances of getting their real names and contact information.
  • I am always prepared to offer something that I can send them, preferably by email.  Another way to get real contact information.
  • And if you want to really be prepared, print out the contract forms - leaving the price and the buyers' names blank.  You need to be a good Girl or Boy Scout -  you know the motto!  Be Prepared!
  • After the Open, follow up!  

Many agents feel like Open Houses are a total waste of time.  And they can be.  But I've found that Opens can be a wonderul opportunity to meet future clients.

And sure, they might begin their search on the Internet.  But they will end their search with an agent they connect with, maybe at your Open House!  And with any luck, you'll end up at the end of the day with at least a couple of qualified prospects you connected with.  That sure does beat paying some lead selling service, doesn't it?

 
Post is included in group: RealtorsĀ®

23 Comments on Opening Up Opportunities At Open Houses

OCT
27
265,740 Points 7 Featured Posts Outside Blog

My mentor said always have a few listings to show people if they want to look at homes. Well, this happened to me at an open house. I had a couple write an offer on the second home and I sold it. I closed down my open house that day to obtain a sale.

8:09am • #1
142,012 Points Localism Sponsor

I haven't had much success with open houses but I think it might be time to revisit the idea.  Thanks for the tips.

8:10am • #2
Localism Sponsor Outside Blog

Pat, We are always looking for newbies to help with open houses.  It works great for us and hopefully garners some new clients for them. 

8:13am • #3
313,110 Points 11 Featured Posts Localism Sponsor Outside Blog Hit Router

Pat - this is exactly what I did when I first started and pretty much followed your advice to a "T".  I obtained so many buyers my holding other agents listings open - believe me, a few took advantage of me but that didn't last long!  ;)  Great advice!!!!!

8:13am • #4
103,791 Points

Open Houses usually do pretty good for us - We have never sold the house that we have "open" but most of the time we do get a relationships with potential buyers!

8:27am • #5
105,410 Points 12 Featured Posts

Patricia.....Lord, even old dogs get blindsided. My listing. Beautiful condo in downtown Frederick. Sunny Sunday a few years back. Thought I had it under control... sure secure building. Well, I was not ready for the reaction of the other tenants. Signs pulled down, vigilante committee demanding no strangers in the building, local police called, some sort of large event outside that served free beer. Over 300 semi-drunks wandering the building and me making calls for reinforcements.

Nightmare. And I was prepared.

Nope, never sold.

8:40am • #6
223,248 Points 1 Featured Post

Great post as always. Here's my recent story. I was sitting the new construction site I usually sit on Sundays. Had decided NOT to do an open at another listing, but someone shows up, calls and I could only get a friend to go open it up. While closing up, and at my request, he vacuumed up some dead bugs on the third floor, and vaccumed his way onto the rafters, putting a 4' x 4 ' hole in a ceiling. Thankfully he did not fall all the way through as it was a 20 ' ceiling. Chalk that one up!

8:55am • #7
117,196 Points 3 Featured Posts Localism Sponsor

Pat, I love the tips...it could mean the difference between 'waste of time' and 'generating leads.' I am bookmarking and would like to re-blog!

9:26am • #8
212,779 Points 4 Featured Posts

I guess any situation is what you make of it.

Great job turning what many think of as a waste of time into a lead generating experience.

9:51am • #9
123,794 Points Localism Sponsor

My first sale was an open house. Nice sale, $7000 over asking. I thought to myself: boy this is easy.

It isn't, but these suggestions are very helpful. 

10:31am • #10

Pat,

A great post as always! Being prepared is the mantra for everyday, isn't it! Don't forget safety also.

always the best...

11:19am • #11
223,802 Points 5 Featured Posts Localism Sponsor Outside Blog Hit Router

Pat --- quite often my newbie agent-owners hold Open Houses for the experienced who do not wish to do so --- your rules are pretty much what I instruct the newbies -- one that I have not told them about was to not ask for name, etc until after they have seen the house --- excellent point.



  
             Mama Liz

12:48pm • #12
482,112 Points 1 Featured Post Outside Blog Hit Router

Pat

I like it when personalities lend to each out and want to make the best for each other.

5:19pm • #13
395,307 Points 9 Featured Posts Localism Sponsor Outside Blog

Pat:  Missed you today that REBar Camp in Herndon.  I had to cut out early because I was feeling completely crappy, but wish you'd been there.

5:33pm • #14
Outside Blog

I like to sit at least one open house per month.  I also agree with your suggestions.  If you are going to sit an open...make it a good one.  I also send out emails to my database sharing the OPEN house calendar from my website. 

7:09pm • #15

Pat   - open houses are hit and miss. I have done a ton this year but they didn't add up to much...

I still think however that they are worth doing.... where else can you get face to face with buyers....

7:59pm • #16

Pat, I am a fan of open houses, I like to do two a month---and they can be very profitable. They make our seller's very happy and you can pick up a buyer or two.  It is all good!

10:13pm • #17
586,968 Points 63 Featured Posts Outside Blog

Great guidelines on Open Houses Pat, and I agree some houses should not be open house candidates...

10:39pm • #18
394,341 Points 1 Featured Post Localism Sponsor Outside Blog

Great advice to the new agent I remember setting in open houses no one else wanted when I started we all have done it.

11:20pm • #19
OCT
28
460,489 Points 13 Featured Posts Localism Sponsor Outside Blog

Pat great tips as to how to conduct a successful open house.  I don't do too many however I have picked up clients from open houses and successfully sold them other houses.

1:28am • #20
101,307 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router

Hi Pat, great tips. I usually ask for name, email, etc. when a prospect first enters but will take note of your advice to wait until they see the home first. Also, Shannon and Luchs? I have an aunt with the same last name as mine that worked there for a long time. I have in fact spent several holidays with the Luchs family, small world.

12:43pm • #23
352,082 Points 11 Featured Posts Localism Sponsor Outside Blog

I also got lots of leads and business from doing opens for lazy agents.  I think that the ones who visit the open house, if you can gain their respect and friendship while they are there, will likely use you as their agent.

9:34pm • #24
220,471 Points 6 Featured Posts Outside Blog

Hi Pat, this post reminded me of my newbiness many years (almost 25) ago.  I was asked to sit new construction.  A couple came in and I helped them look through the home.  I was told that if a buyer bought, it would be my buyer for sitting the open house.  A week later the listing agent told me that she was so sorry, a buyer had bought the home, one of the buyers that had come through the open, but because they didn't give her my name, she could only pay me a referral fee!  I was so new, and the broker didn't want to make waves with the experienced agent, and I got a 25% referral fee instead of the full commission I was owed.  I ddint' know any better at the time.  New agents, don't let people take advantage of you!

9:57pm • #25

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Patricia Kennedy

Washington, DC

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Evers & Company Realtors

Address: 4400 Jenifer Street NW, Washington, DC 20015

Office Phone: (202) 364-1700

Cell Phone: (202) 549-5167

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Pat Kennedy -- author of The Irreverent Guide to Real Estate -- gives you a look at life on the streets as a real estate broker in our nation's capital. And her blog is peppered with great advice combined with humor!


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