Before you read this blog and think I am sharing my success story, I want to clarify that I am actually writing about how to succeed with Open Houses. Over the next few posts (not sure how many yet), I'll discuss some tips that help make Open Houses successful. If you have a different opinion from what I am posting, please do share it with me.
With my previous group of posts, I received a lot of feedback and truly appreciated reading all of them. That's the purpose, right? To share your thoughts and get feedback on scenarios, suggestions, marketing tips, etc.
If you are a listing agent, you have learned the secret that top real estate agents have known for years. Rather than focusing upon the selling side of the business, true top producers rely on listings for the majority of their real estate commissions. It is possible to sell many more listings in a month that it is to show and sell to multiple purchasers. Balance between the two is very important -- when worked properly your sellers will always translate into enough purchase business to keep the purchase side of your business strong.
One tool that has always existed for listing agents is the open house. It is sometimes a very controversial tool with some agents believing open houses are not a good use of their time except to show their sellers some activity. Other agents started and built their careers focusing on this particular tool.
In reality, it is not the tool itself that determines the effectiveness -- its the actions you take. One of my biggest marketing suggestions is to continue having open houses. This is why I decided to write posts about this topic. I'll try to word the following posts in a way that will help you make this activity more effective. It would be rare for any listing agent not to use the tool of open houses and it makes sense if you are going to spend your valuable resources -- money and time -- that you achieve the greatest results in return.
The first step is... get into the right frame of mind!
I have heard these comments by real estate agents regarding open houses -
"Waste of time"
"All I ever see is tire kickers"
"All I am doing is making the owner feel good"
Yet, every weekend we see houses held open -- scores of them. And many agents swear that this is a very effective sales method. Well, those who succeed with a particular sales tool do so because of a positive outlook. Have you heard the expression "Attitude Sells"? Ever have a week where things are really slow, and then all of a sudden you get 3 or more listings in a row? A big factor is your attitude. Your attitude actually changes after the first one, which carries over to the next conversation. There is no substitute for a positive outlook. Do not think that you can turn this outlook on without proper mental (and sales) preparation -- when a great prospect finally wanders in the door. As a matter of fact, it is unlikely that a great prospect will walk in the door without the proper preparation in place.
In other words, if you prepare for the worst you will get the worst -- Tire Kickers. It is said that some could find a rainbow in the desert. Finding a good listing and/or sales prospect should not be that hard in a weekend. If you find a legitimate propsect every time we hold an open house, the activity will more than pay for itself in the long run. However, we are not likely to find gold if we are expecting coal.
So, the first rule for great open houses? Open the mind before we open the house!
Subscribe to my blog to follow the next few posts. If you do not agree initially, I'd like to see if I can open your mind just a little.
Make every day great!
John Cannata - Reliant Mortgage
I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice. If you are available to talk, I am available to listen. Give me a call or visit my website for more details.
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John R Cannata P#214.728.0449
NMLS # 322646
The views expressed on this site are mine alone and do not reflect the views of my employer.