Frisco Texas Mortgage, Real Estate, Events, and more

Success with Open Houses - Final Installment

When I started the series of posts on the topic of Open Houses, I started with the number one key to sales - attitude.  Of course, there are other keys to being a successful sales person (such as planning and preparation), but one of the most important keys is listening.  It is no accident that the famous Xerox sales course was aptly named - The Art of Listening.

Well, if the key to sales is listening, then another key is to get the prospect to talk.  You do not get them to talk by talking yourself - you get them to talk by asking questions.  What do you ask?  Here are a few examples:

  • About the house - One goal of the open is to garner feedback.  You cannot get feedback without asking pointed questions about the house.  Many visitors will not offer without being asked a question such as - what do you think of the location?  How far is this location in comparison to where you work?  The second question may help if you have a few listings in other areas.  Perhaps the other location would work better for them, but they were not aware of it.
  • About Their Status - Why are they here?  Are they a neighbor?  Do they own a home?  Are they seriously looking?  If they are serious, do they have an agent?  Have they been pre-approved or pre-qualified for a mortgage?  If you are unclear of the difference, feel free to contact me with questions.
  • About Their Needs - What are they looking for?  Are they hoping to purchase their first home in a few years or do they need a home within 30 days?  Are they currently leasing and it will soon expire?
  • Do they know someone who might be interested?  Interested in referrals?  You won't always get them if you do not ask.  But perhaps they know a friend and they thought they would check out the house since they were in the neighborhood.  Can't hurt to ask.
  • Are they interested in some further action?  Even if they are not interested in the home, they may be interested in some further contact.  Perhaps you can get an email or phone number so that you may notify them about future open houses, new listings, or perhaps looking with you.

It is one thing to have perfect preparation and attendance.  If is quite another to convert these lookers into valid prospects.  You will not do this unless you ask the right questions.  I covered some basic skills in a 'cold calling' series.  If you want some additional ideas, please check them out and let me know what you think.

As the Beatles said - "GET BACK"

You have created a great open house with traffic.  You have listened and created prospects.  Now it is most important to make sure the job is 100% finished - not 80% or 90%.  If you do not follow-up you will not reap the rewards of your efforts.  When you have spent so much time and money creating valid prospects, it would be a shame to stop a few yards short of the end zone.

This is the one area that I have been able to help my agents as a true partner.  Come Monday, most agents are busy following up on the one or two "hot" prospects they have generated over the weekend.  They truly do not have time to follow-up with every person that walked into their open house.

I often continue the sales process for my agents - calling or emailing prospects and offering a pre-approval and other information requested by these individuals.  While my agent is busy negotiating a deal on their listing, I am making sure the others do not fall through the cracks.

All that is required is to make sure you collect organized follow-up data.  That is why a professional open house visitors log is important.  They are not too expensive to put together and is a little more organized than some sheets of paper laying around next to your business cards.

Are you utilizing your Loan Officer/Broker?  If you aren't, you may be missing out on some additional opportunities.  As I have said in several posts... UTILIZE YOUR RESOURCES.  This is the time when a Realtor and Loan Officer/Broker should be working closely together.  Maybe you will double your exposure.  Is that a bad thing?

I hope you found the series on open houses helpful.  Also, I hope this series helped you understand why some Loan Officers/Brokers are different.  I do not find it useful to pass out 3 business cards.  Find someone that will help YOU look better to the customer.  Do not leave it up to chance.  Help them by pointing the customer towards someone that will help you with repeat business.

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Make Every Day Great!   John Cannata - Reliant Mortgage

www.creatingclientloyalty.com

www.johncannata.com

www.txmortgageconsultant.com

 

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Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

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Texas Home Loan Expert

Frisco TX Mortgage

      

 

The views expressed on this site are mine alone and do not reflect the views of my employer.

Comment balloon 7 commentsJohn Cannata • August 05 2008 08:30PM

Comments

Hi John,  I do a lot of opens and find that while some people are hesitant to provide contact info they will provide Name, phone and email !   I always tell them that I don't share the info with anyone and I only use it to send my " Steals and Deals " info. 

Posted by Bill Gillhespy, Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos (16 Sunview Blvd) almost 12 years ago

I haven't had much luck with getting traffic to the open house in the Metro Detroit area

Posted by Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com (Real Estate One) almost 12 years ago

Great finish John!

Posted by Karen Otto, Plano Home Staging, Dallas Home Staging, www.homes (Home Star Staging) almost 12 years ago

Bill - That is a great name - Steals and Deals.  I agree that not everyone is talkative, espectially if they do not know you.  Perhaps you do not get a ton of information during the first conversation, but I would say you can open the door when you send them an initial email or follow-up call.  Thanks for the comment.

Russ - I am not familiar with the Detroit area.  I assume people are still buying though, or else you would not be in the business.  In a harder area, what do you find works best for you?  I'd love to add some information for areas where Open Houses may not work.

Karen - Thank you Karen.  I tried not to disappoint for anyone that followed along.  I'd like to add to the information.  As I review some of them, I see where I could have added more information or better examples.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 12 years ago

John, I thought your open house series was wonderful!  You put SO much work into it, and it showed!

Posted by Elizabeth Cooper-Golden, Huntsville AL MLS (Huntsville Alabama Real Estate, (@ Homes Realty Group)) almost 12 years ago

John - I agree with Elizabeth.  This is a well-organized and informative series.  Virtually everyone can pick up a point or two or ten that will help their clients. 

Posted by Erik Hitzelberger, Louisville - Middletown Real Estate (RE/MAX Alliance - Louisville REALTOR-Luxury Homes) almost 12 years ago

Elizabeth and Erik - Thank you for the support and comment.  For future series, do you think I should make them shorter?  My concern is that I would lose a few people because I dragged it out over 7 posts.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 12 years ago

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