It was a Sunday. My maternity leave had come to an end, and I was struggling to leave my baby and husband for an open house. Still, I went to my office … Only to find errors on my yard signs. Then, I spilled coffee on my dress. Every one of the 20 balloons I blew up escaped from my car. I finally called my team lead in tears. “This is going to be the worst open house,” I proclaimed. He replied with words of encouragement: “You’ve got this: just show up and do your best.”
This confidence boost helped me have one of my most profitable open houses ever, resulting in at least four transactions in our prime area. From that moment forward, I regarded open houses as a top prospecting opportunity. Through study and experience, our team has refined our open house strategy while learning several lessons along the way.
Be intentional about open house locations.
Business took off once we became intentional about where we would hold open houses. Instead of hosting them across Atlanta, we zeroed in on neighborhoods where we had a physical presence and listings nearby. This gave us immediate clout as the neighborhood expert in the consumer’s eyes.
Combine your efforts.
Our efforts went even further once our buyer’s agents and listing agents teamed up, each playing specific roles during the open house. Here is what this partnership looks like in practice:
Listing Agent
The listing agent stands at the front door, warmly welcoming people as they arrive. While greeting guests, the agent is learning about what brought them to the open house: whether they’re looking for a house themselves or they’re looking for the value of their own property. Once the agent has deemed the guest a prospect, they engage them in dialogue with the goal of landing a consultation. (Anyone who hasn’t signed an agreement with another listing agent is a prospect.)
Listing Agent Tips and Scripts
- Begin the conversation with: Tell me, what brings you by the open house today? or We typically find that people come to open houses either to look for a home of their own or find the value of their house. Which one are you?
- If the prospect shares that they are just looking, ask: Do you live nearby?
- If so, reply with: Come on in and let me know how this house compares to yours. Has anyone sat down and talked to you about the value of your home?
- Add immediate value to the conversation by pulling up market stats via Kelle show your prospect insights on neighborhoods around them. Potential sellers love seeing where they stack up.
- Before making the ask for a consult, always ask: If you were to sell, when do you think that would be?
Buyer’s Agent
At the open house, the buyer’s agent is focused entirely on building rapport with potential buyers. If an individual can’t quickly come up with an agent’s name after being asked “who is your agent?”, they are a prospect. Once the agent has deemed someone a prospect, they are working to establish a connection by giving private tours, asking personal/common interest questions, and showcasing their value to land a consult.
Buyer’s Agent Tips and Scripts
- Meet the prospects in a room and start to build rapport. Ask personal, common interest questions such as: How many pets do you have? How long have you lived in [city]?
- After you’ve made a connection and gathered basic information, say: This market moves very quickly. Have you talked to anyone about that?
- End with: What’s your strategy for finding your next home?
Follow up!
Since success is in the follow-up, we are very strategic when it comes to reaching out to open house prospects. After an open house, prospects are placed on a touch campaign and we follow up with them through handwritten notes, emails and phone calls until we secure the consult. Command makes this even easier through SmartPlans.
We are communicating about the market, our team and have properties ready so we can quickly set up a consultation. With a solid open house strategy in place, our team is set up for the long term.
In both SHIFT and The Millionaire Real Estate Agent, Gary Keller underlines the value of all lead generation methods. When markets shift, you must have multiple avenues to prospect for business.
Time has taught us that we can’t rely on our database alone. Are you setting up your own business for long-term success? I encourage you to start today by solidifying your open-house prospecting plan.
About Jennie Moshure
Jennie Moshure served as the Lead Buyer’s Agent for The Peter’s Team (Peachtree Corners, Ga.) for many years and earned the title of Rookie of the Year for the Keller Williams Southeast Region in 2012.
Never one to turn down a great opportunity, she later transitioned to the role of Listing Specialist and is currently the team’s Director of Sales.
Jennie’s goal is to be irreplaceable to her clients and this is demonstrated in the time, energy and care that she pours into each transaction. She creates a personal friendship with every client that extends well past the closing of their home.
Jennie graduated from Georgia State University and her discipline and high achieving personality helped her to graduate summa cum laude with a Bachelor of Arts in Journalism and Communication. She currently lives in Brookhaven with her husband, Mike, their daughter Kate, and son Nash.