By Jennie Moshure
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:
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 a Market Snap on Kelle to 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?
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 establis4h 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 with anyone about that?
- End with: What's your strategy for finding your next home?
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 an 8x8 touch campaign and we follow up with them through handwritten notes, emails and phone calls until we secure the consult. 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.
For a deep dive into Jennie's open house strategy, watch the video below.
About Jennie Moshure
Jennie Moshure began her real estate career in 2011 and joined The Peters Company, a metro Atlanta-based team, in 2012. She closed 24 buyer deals her first year, earning her the title of Rookie of the Year for the Keller Williams Southeast Region.
For four years, Jennie led her buyer’s team as a lead buyer’s agent. Never one to turn down a great opportunity, she transitioned into the role of listing specialist in 2016.
When she’s not pouring her time, heart and energy into a transaction, Jennie enjoys time with her husband Mike and their 4-year-old daughter Kate.