April 8, 2008
Open House Secret Formula
by Denise Lones
Hooray, it's Open House season!
You just groaned, didn't you? If you did, I bet your last Open House was a thumb-twiddling nightmare. Well, twiddle no more! I now bring to you the Denise Lones "secret formula" for transforming your Open House from a big yawn into an exciting experience.
As in everything, the key to a successful Open House is: prepare, prepare, prepare.
First of all, ask yourself: "Is the location strong enough to bring buyers, sellers, neighbors and 'snoops' to the door?" Is it on a well-traveled road? If not, what do you need to do in order to get prospects there?
Of course, you want serious buyers. That's a given. But you also want sellers who live in the area and may want to list their home in the near future. An Open House is a great way for them to gather information.
Neighbors who are thinking about "moving up" are also great prospects for an Open House. Make sure you send a postcard out to the neighborhood advertising it. Many a sale has been made when a neighbor, who has been living across the street from a house for years, is curious enough to stroll over to see what's always been over there.
They may be interested because they're having kids and need a bigger house. Or perhaps this neighbor has a friend or acquaintance looking for a home and the very act of visiting the Open House gets them to think, "Hmm, this would be a great place for Brenda and her husband."
And yes, you also want "snoops" -- people who are not interested in buying or selling right now, but have "ulterior motives." They may be on the lookout for decorating ideas. They may own a similar home with certain problems and they want to see how those problems were remedied in this one.
They may also be "snooping" for an agent. They may have no interest in that particular home, but they want to see what kind of agent you are. What a great way to find an agent! That's why you can never treat snoops lightly, because you don't know what their "ulterior motives" are and they're not going to tell you!
Some agents think the way to find out is to bombard them with questions and extract contact information out of them. Wrong! This will only scare them away. You also can't just ignore them if you believe they're not interested in this particular property. It's very important you make a positive impression on the people you just met -- regardless of their buying status. I cringe when I see an agent's face drop after categorizing someone as a "snoop." They immediately lose interest in them and go on to the next person. If these people were "snooping" for an agent, this one just lost any chance of ever doing business with them in the future.
So how do you make an Open House dynamic and productive for these four types of people?
1. Preparation
Always prepare by making sure you do your research on the area, the home, recent sales in the area, other listings in the area, distance to schools, land characteristics, potential flooding issues, construction details, and renovation history. And of course, make sure the house is beautiful on the day of the Open House!
Also, make sure you've properly advertised the Open House -- listed on your company website, in the local paper, and with bold signs in the yard.
2. Presentation
The biggest mistake agents make at Open Houses is to hide themselves -- usually in the kitchen for some reason -- waiting for someone to open the door. This creates an uncomfortable atmosphere.
But the opposite is also a mistake. Jumping down people's throats will make them run to their car. You must strike the right balance between being a wallflower and being pushy. Be interested in the prospects, but let them be. Make sure they know they can ask questions without fear.
My rule of thumb is this: If you're not opening the door before somebody has to ring the bell or open it themselves, you are not being effective. When you see a car coming, make sure you open the door and greet them with:
"Hi, welcome to my Open House. Come on in. I'm Denise. Feel free to take your time and walk around. Ask me anything you want. I'm not going to ask you a number of questions. I'm here for you to ask me questions. And thanks very much for coming."
Then, be quiet. You've established that you're in control, you've been warm and genuine, and you've let them know how you work, putting them at ease. People need to know there's someone in charge, but they also need to know they're under no pressure. Walk that fine line and you'll do well.
3. Something of REAL VALUE to give to them.
The best way to make a positive impression at an Open House is to give people something without expecting something in return. I would always give prospects a book full of practical and pertinent information for them to take home. This creates quite an impression and cements you in their mind as a helpful advisor.
Now, I'm not talking about a photocopied generic "list of tips." That's been done and overdone. No, this is an actual book. As people are leaving -- almost out the door -- say, "Oh, excuse me. Before you leave, let me give this to you. It's going to help your home search."
"I've prepared this book which has the featured listing in it -- the one you're standing in. It also has a list of other homes in this area that are $50,000 below this price and $50,000 above so you can compare and contrast.
"I've also included a map for you which shows how to get to each house, as well as a print out of all details about each one, including pictures. On the back there is a chart where you can write comments about the houses you see, and a place to cross out the ones you don't like. Now, if you drive by any of them and would like to see them on the inside, feel free to call me and I'll get you in."
I call it my "Stupid Open House Book." Why? Because several years ago, I was doing an Open House training and after describing the book, an agent said to me, "Denise, I'm not going to use this stupid Open House book! This will never work!"
But then after several boring Open Houses, he eventually used my "Stupid Open House Book" and sold a house that very afternoon.
The reason this book works so well is because it ties together their impression of you as in control but not pushy. By giving them something that no other agent at any other Open House has ever given them, you stand out! It's something of value and it shows you're a resource of information for them.
At the next Open House they visit, they will think of you. In fact, at all future Open Houses they will think of you. Don't believe me? Try it. You'll be shocked how long people will remember you because of this simple "stupid" little book.
See? Open Houses need not be the nightmares we make them out to be. With a little preparation, presentation, and demonstration of value, you can transform your dull Open Houses into exciting adventures.
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