The 150K open house opportunity
Winning in the Real Estate business is not easy. However, some days, we make it harder than it needs to be. A significant missed opportunity for most Realtors is open house lead management. Recently, we followed up on a list of sign-ups that were about 4 months old. The results illustrated the point perfectly. We worked 40 contacts, 11 people had already bought a home. In our market, that is approximately 150K in missed GCI for our partner.
The Realtor had called everyone on the list the day after the open house and sent an email, but didn’t have a long-term follow-up strategy. Open house visitors see an average of 6 homes on a weekend and Monday is a barrage of phone calls and emails from every Realtor they visited with. Four months later, we were able to set two consultations for the Realtor from that same list, and he had missed out on more than that.
The hard work is generating the listing, holding the open house, marketing it correctly, and visiting face to face with potential buyers. The money is made on the high-value long term follow-up. Combining the two is the holy grail and provides far more value than buying leads.
So, once you get people into the house, what do you do?
Capture a Personal Care Point (PCP) while in the home:
Ask great questions to create a connection. Skip… “do you have an agent?” in favor of:
When you guys are done with your walkthrough, I would love to hear what you like most about this home; we can compare notes.
What is your favorite neighborhood in town?
Of all the homes you have seen so far, what is the coolest thing you have seen so far?
What do you like most about looking at homes?
Skip the post open house call:
Text a personalized video. This takes a minute but is worth it. Keep the script simple. “Hello John and Cindy, thanks for walking through {ADDRESS} on Sunday, like you I love {PCP}. I will send you an email with some detailed neighborhood information. If you have any questions, send me a text on this number, and I will get back to you.”
Connect on Social Media and show off your Digital Handshake.
To Follow up, send an email with MORE information about the home and neighborhood.
Start your long term follow up:
Execute an email drip: Inform by providing expert opinions, show off your region, promote your social platform.
Say “Hi” on social.
Send Text Messages and make a few phone calls.
Remember, an excellent close rate from open house leads is about 15%. That means that 85 of every 100 open house visitors will tell you to pound sand, ignore you or otherwise blow you off. However, 15 visitors are your Clients to lose.
If you would like help with your open house follow up, send us an email: Info@digitizedagent.com