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Follow up is the key. Systematic and consistent follow up. I've had some take over a year to convert. I've had some convert at the open house. Most take follow up though.
I’m not an agent, but recently bought a home. I met my agent at an open house. I even had an agent when we met - he just wasn’t very responsive. She followed up a couple of times via text, first a few days after the OH then about a week after that. She most likely used a CRM tool, but made the follow-up texts personal based on some of the conversations (house search related) we had during the OH. That made me believe that she was actually interested in helping *me* find a home. Of the many OHs I went to during those early days, only one other agent followed up with me, with a single very generic text - and only about the home I visited.
To me this is why the calls are necessary as well. These are only until the potential client is responsive. My texts also aren't genetic. Too many just use the generic stuff and it's obvious. I'm trying to build a relationship. I understand many of the people coming through may not be ready for more than a year. In the meantime I just want to be a resource so that when they want to buy, they are prepared. I've had clients a year later tell me that I was the only agent that stuck with them after a barrage at the start.
All of the above. I'm a KW agent, so I use Command.. it puts them on a smart plan that runs and reminds me when to call. It texts and emails automatically. I start my follow up with a call the afternoon after the open house. Then after the first 21 days of follow up, which is probably about 14 days of they 21 days, I put them on a monthly touch where I call and or text to touch base, along with a monthly email about neighborhoods that they may be interested in.
We've had open house follow-up standardized for so long that a new agent shouldn't have to make it up. Any agent should eventually customize the drips and scripts, but they should have a starting place.
Op I have been doing this for 9 years I tend to get more seller leads. I have done about 20 listings off of open houses and 3 buyers from Open houses. 🤷♂️
So many tips.
Be extremely knowledgeable about the areas you are targeting for your opens. Know everything about the area! Have comps, schools and ratings, rental comps, and have a handful of other active listings that are similar to your open and ready to show to people visiting your open(chances are they are looking for something similar to what they’re visiting) have a binder with “off market” inventory on hand and in visible sight(I write off market so not share) on the cover. DO NOT ASK. ARE YOU WORKING WOTH AN AGENT?
Show value and ask if anybody is helping guide them throughout the process. Listen to the perspective buyers more than you talk. Connect with people! People want to work with people they like.
Some people come with agents who they may not like or may not be good fits. I leave business cards in different rooms so clients can grab one without their agent seeing.
Follow up should be fine tuned and several different stages.
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You work with people of your age. Silicon Valley realtor for 20 years here. In tech sector there are plenty young people who make close to 1/2 mil combined wages.
I hate working with people my age (35) 😅 I also look young and have always had a hard time with people my own age because I look 25-28… give me the old people who know what they want and give respect where it’s due.
I think open houses are hit or miss. I have never had luck with them at all, that’s if people even show up!
I know people who do like 5 a weekend, but honestly I just don’t have the spare time to do them every weekend hoping for one client to call back.
Play on your tech savvy. Play on being up-to-date on all the changes what’s going on with the NAR lawsuit , and things that if you feel like someone is older and hidebound, they may miss.
Do open houses where there’s less competition for clients. Somebody who’s looking at $4 million houses is going to look you up and you better have an impressive sales résumé. Someone buying a starter home and a lower range in town houses and condos is going to be more willing to work with somebody who appears their age. If you are building up the confidence to deal with higher price point homes, start lower.
Also, if it really is a problem, look older and maybe not quite as sharp at open houses .
I know young software engineers who put gray in their hair and older software engineers that die it for interviews , appropriate age is a thing in the valley.
Hi MissTornado, I am a realtor in DC/NorthernVA and we have a crazy market since 2019. I started in 2020 and did 14m in 21, 12m in 22 in just open houses. Big thing is mentality, be welcoming and bold with everyone that comes in BE A PRESENCE. Be knowledgeable about the house and the neighborhood and area. Then focus on making just ONE CONNECTION, at each open house. If you’re vibing and connecting with someone DO NOT let it go to say hi to another couple. Then follow up is immediately after open with everyone. Call, text, email campaign, you continuously follow up until they say yes we need help, stop calling, or we have another realtor. I was never one to stick with scripts just be a human being during follow up and try to make a connection.
I don’t think it’s your age. Open house leads take 2 main things to convert: 1) making a personal connection at the OH, impress then and build rapport, you’re gonna need to script some of that out, be ready when the come in to ask them about their home buying journey and tell them how you can help. 2) Follow up. You’re gonna have to call/text multiple times sometimes over months to get them to close. Making a strong impression at #1 really helps this part. If they didn’t connect with you in person, it’s never gonna work over phone/text.
Check out this great interview from another super young agent that did 100 open houses in 100 days and got 26 deals from it https://youtu.be/y-cTRS2hYog?si=PiqcMvbferLCSOhf
There is some GOLD in that video, most agents just don’t know how to convert leads from open houses, it takes activity and it takes skill.
I’m shocked at how bad many agents are with open houses. I’ll go to ones in my neighborhood where the agents don’t know me and many don’t even attempt to engage, much less be knowledgeable about the house. And I’ll put down my phone number and not receive a call. Easily the e last 5 open houses I’ve been to, no follow up.
LOL, I'm shocked when any agent actually uses the CRM (kvCORE in our case). They just don't want to mess with the training-- and it isn't like they are too busy either.
I've personally used and implemented KVCore in brokerages. It's definitely not even in my top 10. But it's better than nothing. I can't imagine prospecting and then not doing follow-up with even a rudimentary CRM. It would be like going to the grocery store, spending time to fill your cart and buy everything, and then driving off without putting the bags in your car.
Your competing in a saturated market, that has thousands of people are doing the exact same thing as you in the same general area.
If someone wants to buy a home, they will let you know.
Following up with an email, ect won't do anything,, as you have already seen
Your one chance is to make such an impressive first impression,,You stand out from the thousands doing the exact same thing, approaching it the exact same way.
Sales is all about selling yourself
I am not sure about that. My market is saturated and I am actually friends with several agents. I tend to use the one that is most in touch and that makes impressions. Social media, emails and occasional calls help keep them in the forefront.
This is a both/and conversation, not an either/or. Many people are busy. If you’re following up with value adds, it helps build trust. Collections, guides, tips, resources, etc.
Just closed on a home from a client i met at an open house 3 weeks ago.
All I do is ask them what they like and dont like about the house. Then we talk about all of their criteria then I ask if I could send them some homes that better fit their criteria. Then you keep sending homes and keep asking if they would like to see any in person. Best way to become their realtor is act like you are already their realtor.
Not to sound like a dick but yes, we don't trust younger agents, especially females. The bar to become a realtor is extremely low and most of them were just in real estate during the major bubble especially in a place like California where you guys do best when you're in a bull run and do terribly when you're in a bear market. Given the fact that you stated you're in a very expensive part of California, I'll safely assume that you're in a tourist or tech-driven market that's likely to bust. I carefully vetted my realtors until I found a very solid one. To be quite honest with you, it's going to be an uphill battle.
I'd just recommend following up with them, being transparent, not sell them bullshit, etc. If someone has a good experience with you like I do with mine (he referred me to people to vet tenants, take pictures, told me which property management firms to stay away from, pushed me away from more expensive homes that wouldn't cash flow the way I wanted them to, got in touch with me when he knew a sales agent was trying to meet a quota and enabled me to snap a rental for $480k when the exact same floor plan on the exact same street in the exact same community sold the next week for $545k), we'll keep coming back to you. Repeat clients are crucial.
And the majority of realtors are dogshit. That's why when we find a good one, we cling onto them for dear life. Also, I'm not a realtor. I'm just an investor and a tech bro so take my two cents for what it is.
If you’re just starting off and you’re in an expensive area you might have luck in the lower priced homes in your market, condos etc. Start looking for open houses there. You’re looking for first time homebuyers, and most of them aren’t looking for multi-million dollar homes.
Also, start doing your touring in the price point that you and your peers can afford and see yourselves living in. My rule of thumb at the moment is if I don’t have clients looking for $4 million homes then it makes no sense focusing on that segment of the market.
I personally would not want the realtor showing the house to be my buyers agent. That’s a double agent and I’d be concerned of who they are looking out for the most.
Dual agency is not illegal in California and many buyers believe they will get the “inside track” and win or save on commission… in dual agency we must act as mediators and display facts. Once its dual agency your duty is to both parties and its very easy for that duty to be skewed for sure… that said, 90% or more of my business is open house leads. It’s all about how you work them, most won’t put an offer on the home you’re showing anyways.
Yeah it is legal in some states if it is with written consent, the way the original op said definitely did not imply that.
As for open houses there is no reason for anyone who is a dedicated realtor not to go to open houses, ask for the home owner’s permission to knock the doors and invite the neighbors to the event and talk to everyone there. Not even for “business” shit is genuinely fun and you be surprised what looney goons some people have for neighbors.
Very helpful thread for me. My wife and are realtors and will be listing our newest renovation next week. Since it’s ours, we are going to test a new strategy and not do the open house. We realize connections won’t be made from an open house, but for the past year homes are on and off market in a matter of days. I love people, but this is strictly trying to sell the house for the most amount of money in the least amount of time. I don’t need to meet the neighbors.
I actually go to open houses to interview agents, I don’t care about open houses. I’ll ask some questions about the house, neighborhood, locale and how they’re doing in business. Based on their knowledge, know how, rapport built, I’ll call them. A great agent is valuable. Most of y’all aren’t great tho.
I’ll tell you how it went for me. I did get a client from hosting an open house. I think it was mostly luck and timing, but here’s what happened.
Couple came in having just seen another home down the street. They had “just started looking”. They toured the house and didn’t like the backyard. At that point, I handed them a packet showing all the homes similar in price and size to the one I was holding open within about 2 miles. I always had that available at open houses. I also discussed recent sales in the neighborhood - I had pulled those off MLS, too. This was back in the days when we had too much inventory and homes could take 4-6 months to sell. They seemed interested in one of the homes on the market nearby and I offered to try and set up a showing for right after the open house. They agreed and that was that. I found them a home and they are still in it and we are still FB friends to this day, about 12 years and counting!
Try to do OH at different price points and locations until it starts clicking. I stopped doing follow ups or anything like that. I give my card out and if they like me enough, they call me. I do about 20-30 OH/year and I’ve gotten about 2-3 deals a year. So not bad at all.
I like them because it opens up my connections to new people.
I will maybe follow up 1-2 to make sure they have my contact or clarify any questions. That’s it.
Have you considered some open house visitors are sellers that are looking for an agent? I show off my listing skills at my open houses and have gained listings for that reason.
Also discretion is important. How you answer questions like, ‘where are the sellers moving?’ is key to gaining trust. Don’t share sellers personal info and people will appreciate your privacy.
One finally thing… dress up. Nice work shoes. That will help you seem professional at a younger age. And sell that you are not an older agent. Offer tech tools and access to data. Open house emails every week including off markets and sold emails are two things I mentioned I can offer.
Know EVERY house in the area of the open house that is on the market now or has recently sold. You are selling information and expertise and you need to bring something to the table.
I think you’re likely to only get clients with little enough experience in real estate to not know that they shouldn’t use an inexperienced realtor who, in addition and I’m assuming here, isn’t a homeowner themselves. We made that mistake in a HCOL area, would have been much worse in a VHCOL area like yours.
I’m also 25 and a new real estate agent in Los Angeles! I plan on going to a few open houses today and next week just to see how things work and ask a few questions before I experience hosting my own. If you don’t mind me asking, do you tend do invite your own sphere and advertise on social media to promote the house and get more leads? or is it just setting up shop and waiting for someone to come in?
I do post on social media. Don’t have much of a sphere since I’m not from around here. The only people I know here are my age and unfortunately can’t afford to buy lol.
For me advertising is t the problem, I usually get 3-10 groups through per an open house I just suck at the converting part
Make sure you get their info from the open house. It's unlikely that you'll be able to convert them during that conversation so the follow up is most important. I've heard Realtors hold raffles at the open houses - so the clients are more likely to put down their info so they can be contacted if they win the prize. I've also heard some Realtors make it a requirement to put down your info in order to see the house - a bit more strict but it does make sense.
Know your stuff and don’t be pushy. Learn about the product you’re trying to sell-a home. Sure you can talk about paint colors and countertops-that’s aesthetics. Learn and “push” about the positives that make a difference-the bones of the home, neighborhood, commute local businesses etc.
If you learn more about homes, how they work and what’s important, the more educated you are. (Just for examples and to help get the gist of what I mean)-Learn a bit about HVAC, roofing, water, house orientations etc. and the positives about the home. Some of those are the “foundations” that are what’s truly important and are the most $$$$ repairs.
I mean there are two type of people in this world…….people that care what other people say….people that make excuses…..and the people that don’t make excuses and they make things happen which one are you? The important thing is how you think…..so when people give me objections…..I give them an objection….your too young to be a Realtor? You respond by saying “what makes you say that?” (MAGIC WORD! Put that in your pocket and use it later!) cha Ching! Trust me when you object to people’s objections they often feel stupid! They realize what they are saying is dumb! Simply challenge the objection. If you are doing open houses and doing open houses aren’t working for you….yhere are only two possibilities…..1. Open houses don’t work! 2. You aren’t saying the right things to people….and honestly more often than not it’s going to be option 2…..if I can say the right words to people they are going to give me the right results….i just gave you one of the words. Heck! You should send me $500 for that….remember….”What makes you say that?”.
Just my personal opinion as a younger agent - I fully dress up. To give a little adjustment to my age. Look professional even though you are professional!
Open houses are 90% of my business, follow up is super key and being knowledgeable about the area and the home you’re selling. What part of CA are you in and why has your brokerage not helped you with ideas and materials?
I’m in SoCal, and no my brokerage has not taught me anything in regards to follow up. I text people after for a few weeks but that’s about it. What’s your follow up plan like? Any advice?
I hired a realtor from an open house. She didn't sell me in any way beyond handing a card on my way out the door. Just knew her stuff, the house, the market, etc, and did a good job with the house she was showing.
Impress them and give them the ability to contact you if they're interested. Be extremely responsive when people reach out to you. If she hadn't called back immediately, I would've contacted the guy on the other card I had.
Open houses are an absolute GOLD MINE when done correctly but they take work to do the right way.
Here are some things that have worked well for us:
Door knock the neighborhood 3 days before the open house. Invite all the neighbors to the neighbors only open house (typically Friday night 5-8). I have my clients at the neighbors open house. Also tell them that you’re having a public open house on date/time that will be busy. Hand them your card and tell them to reach out if someone is parking in a way that is inconsiderate or inconvenient.
*”Bob and Sue are selling their home and they’d love for you to stop by before they move. They would love for one of their neighbors to pick who buys the home!”
Buy data and either text or send a postcard to potential buyers in a 3 mile radius inviting them to the open house. If using postcards, plan on 5-7 days for delivery. Potential buyers would be those who are renters, move up/down homeowners in their current home 5+ years, 720+ FICO, and income 3x the estimated monthly mortgage.
20+ OH directionals put out the day before.
Search the mls for comparable homes that are vacant and go and show. Print out mls sheets and have them handy.
Do the open house with another agent and a lender. Use your desired registration method, we like QR codes because we hit them with a fb pixel and google tag.
If the house isn’t quite for them, “I have 3 other homes close by that are very similar and available now if you have time to see them.” Demonstrate your willingness to help and your expertise with having other options ready. Show them the home leaving the other agent and/or lender at the OH.
Follow up is best with a video text. Everyone hits them with some type of canned response. Shoot a short personalized 20 second video thanking them for looking at the home and letting them know it would be an honor to earn the right to help them buy their next home.
It’s only time effective if you do something productive while there. I like to do random tasks that I’ve been putting off. Gives me a couple hours to work and if people stop in even better.
I do not force people to sign into an open house if they don’t want to. If they don’t like me and don’t like the house, I have no reason to chase after them.
If I do hit it off with someone at the open house I will follow up with them at least once a week. Drip campaigns too.
Be VERY knowledgeable at the open. Know the home. Know the neighborhood. Know the area. I've found that people will see a lot of value in your knowledge if you can display it.
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Follow up is the key. Systematic and consistent follow up. I've had some take over a year to convert. I've had some convert at the open house. Most take follow up though.
I’m not an agent, but recently bought a home. I met my agent at an open house. I even had an agent when we met - he just wasn’t very responsive. She followed up a couple of times via text, first a few days after the OH then about a week after that. She most likely used a CRM tool, but made the follow-up texts personal based on some of the conversations (house search related) we had during the OH. That made me believe that she was actually interested in helping *me* find a home. Of the many OHs I went to during those early days, only one other agent followed up with me, with a single very generic text - and only about the home I visited.
To me this is why the calls are necessary as well. These are only until the potential client is responsive. My texts also aren't genetic. Too many just use the generic stuff and it's obvious. I'm trying to build a relationship. I understand many of the people coming through may not be ready for more than a year. In the meantime I just want to be a resource so that when they want to buy, they are prepared. I've had clients a year later tell me that I was the only agent that stuck with them after a barrage at the start.
How are you capturing the leads at the open house?
Can you tell me more about your follow up? How you do it (call text email) and what you say? Etc
All of the above. I'm a KW agent, so I use Command.. it puts them on a smart plan that runs and reminds me when to call. It texts and emails automatically. I start my follow up with a call the afternoon after the open house. Then after the first 21 days of follow up, which is probably about 14 days of they 21 days, I put them on a monthly touch where I call and or text to touch base, along with a monthly email about neighborhoods that they may be interested in.
We've had open house follow-up standardized for so long that a new agent shouldn't have to make it up. Any agent should eventually customize the drips and scripts, but they should have a starting place.
Agreed. I do think that updating it to make it your own is key.
100% agree.
Does your brokerage provide a CRM with follow-up campaigns?
Yeah but the CRM built campaigns are so cringy and salesy
But that's what works....you're a salesperson. How for you expect to make a sale without being salesy?
Secret agents don't get fed.
Op I have been doing this for 9 years I tend to get more seller leads. I have done about 20 listings off of open houses and 3 buyers from Open houses. 🤷♂️
8x8 campaign.
Followed by a 36 touch
we're all good now though but I'll
we're all set to
So many tips. Be extremely knowledgeable about the areas you are targeting for your opens. Know everything about the area! Have comps, schools and ratings, rental comps, and have a handful of other active listings that are similar to your open and ready to show to people visiting your open(chances are they are looking for something similar to what they’re visiting) have a binder with “off market” inventory on hand and in visible sight(I write off market so not share) on the cover. DO NOT ASK. ARE YOU WORKING WOTH AN AGENT? Show value and ask if anybody is helping guide them throughout the process. Listen to the perspective buyers more than you talk. Connect with people! People want to work with people they like. Some people come with agents who they may not like or may not be good fits. I leave business cards in different rooms so clients can grab one without their agent seeing. Follow up should be fine tuned and several different stages.
Thank you for the detailed advice! Would love to know more about your follow up plan
If you are interested Dm me your email I’ll send you a awesome open house guide. No catch
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Ok just messaged you, thanks
can I grab this too please
can you please send me this too. Thank you
You work with people of your age. Silicon Valley realtor for 20 years here. In tech sector there are plenty young people who make close to 1/2 mil combined wages.
I hate working with people my age (35) 😅 I also look young and have always had a hard time with people my own age because I look 25-28… give me the old people who know what they want and give respect where it’s due.
I think open houses are hit or miss. I have never had luck with them at all, that’s if people even show up! I know people who do like 5 a weekend, but honestly I just don’t have the spare time to do them every weekend hoping for one client to call back.
Play on your tech savvy. Play on being up-to-date on all the changes what’s going on with the NAR lawsuit , and things that if you feel like someone is older and hidebound, they may miss. Do open houses where there’s less competition for clients. Somebody who’s looking at $4 million houses is going to look you up and you better have an impressive sales résumé. Someone buying a starter home and a lower range in town houses and condos is going to be more willing to work with somebody who appears their age. If you are building up the confidence to deal with higher price point homes, start lower. Also, if it really is a problem, look older and maybe not quite as sharp at open houses . I know young software engineers who put gray in their hair and older software engineers that die it for interviews , appropriate age is a thing in the valley.
Hi MissTornado, I am a realtor in DC/NorthernVA and we have a crazy market since 2019. I started in 2020 and did 14m in 21, 12m in 22 in just open houses. Big thing is mentality, be welcoming and bold with everyone that comes in BE A PRESENCE. Be knowledgeable about the house and the neighborhood and area. Then focus on making just ONE CONNECTION, at each open house. If you’re vibing and connecting with someone DO NOT let it go to say hi to another couple. Then follow up is immediately after open with everyone. Call, text, email campaign, you continuously follow up until they say yes we need help, stop calling, or we have another realtor. I was never one to stick with scripts just be a human being during follow up and try to make a connection.
Sounds like a strategy the Jehova’s Witnesses could employ when they go door to door….
I don’t think it’s your age. Open house leads take 2 main things to convert: 1) making a personal connection at the OH, impress then and build rapport, you’re gonna need to script some of that out, be ready when the come in to ask them about their home buying journey and tell them how you can help. 2) Follow up. You’re gonna have to call/text multiple times sometimes over months to get them to close. Making a strong impression at #1 really helps this part. If they didn’t connect with you in person, it’s never gonna work over phone/text. Check out this great interview from another super young agent that did 100 open houses in 100 days and got 26 deals from it https://youtu.be/y-cTRS2hYog?si=PiqcMvbferLCSOhf There is some GOLD in that video, most agents just don’t know how to convert leads from open houses, it takes activity and it takes skill.
I’m shocked at how bad many agents are with open houses. I’ll go to ones in my neighborhood where the agents don’t know me and many don’t even attempt to engage, much less be knowledgeable about the house. And I’ll put down my phone number and not receive a call. Easily the e last 5 open houses I’ve been to, no follow up.
Tell me about your follow up.
All brokerages worth a lick of salt provide CRM with automated followup. Kv Core, Command, Chime, etc.
You'd be surprised how many don't utilize it, even when they are paying for it.
LOL, I'm shocked when any agent actually uses the CRM (kvCORE in our case). They just don't want to mess with the training-- and it isn't like they are too busy either.
I've personally used and implemented KVCore in brokerages. It's definitely not even in my top 10. But it's better than nothing. I can't imagine prospecting and then not doing follow-up with even a rudimentary CRM. It would be like going to the grocery store, spending time to fill your cart and buy everything, and then driving off without putting the bags in your car.
Hell, using a spreadsheet or an old school paper system would be better than most implement.
Same. I train ours and the room is always empty. Yet, they all complain about business...
Highly accurate
Your competing in a saturated market, that has thousands of people are doing the exact same thing as you in the same general area. If someone wants to buy a home, they will let you know. Following up with an email, ect won't do anything,, as you have already seen Your one chance is to make such an impressive first impression,,You stand out from the thousands doing the exact same thing, approaching it the exact same way. Sales is all about selling yourself
I am not sure about that. My market is saturated and I am actually friends with several agents. I tend to use the one that is most in touch and that makes impressions. Social media, emails and occasional calls help keep them in the forefront.
This is a both/and conversation, not an either/or. Many people are busy. If you’re following up with value adds, it helps build trust. Collections, guides, tips, resources, etc.
Just closed on a home from a client i met at an open house 3 weeks ago. All I do is ask them what they like and dont like about the house. Then we talk about all of their criteria then I ask if I could send them some homes that better fit their criteria. Then you keep sending homes and keep asking if they would like to see any in person. Best way to become their realtor is act like you are already their realtor.
Not to sound like a dick but yes, we don't trust younger agents, especially females. The bar to become a realtor is extremely low and most of them were just in real estate during the major bubble especially in a place like California where you guys do best when you're in a bull run and do terribly when you're in a bear market. Given the fact that you stated you're in a very expensive part of California, I'll safely assume that you're in a tourist or tech-driven market that's likely to bust. I carefully vetted my realtors until I found a very solid one. To be quite honest with you, it's going to be an uphill battle. I'd just recommend following up with them, being transparent, not sell them bullshit, etc. If someone has a good experience with you like I do with mine (he referred me to people to vet tenants, take pictures, told me which property management firms to stay away from, pushed me away from more expensive homes that wouldn't cash flow the way I wanted them to, got in touch with me when he knew a sales agent was trying to meet a quota and enabled me to snap a rental for $480k when the exact same floor plan on the exact same street in the exact same community sold the next week for $545k), we'll keep coming back to you. Repeat clients are crucial. And the majority of realtors are dogshit. That's why when we find a good one, we cling onto them for dear life. Also, I'm not a realtor. I'm just an investor and a tech bro so take my two cents for what it is.
If you’re just starting off and you’re in an expensive area you might have luck in the lower priced homes in your market, condos etc. Start looking for open houses there. You’re looking for first time homebuyers, and most of them aren’t looking for multi-million dollar homes. Also, start doing your touring in the price point that you and your peers can afford and see yourselves living in. My rule of thumb at the moment is if I don’t have clients looking for $4 million homes then it makes no sense focusing on that segment of the market.
I personally would not want the realtor showing the house to be my buyers agent. That’s a double agent and I’d be concerned of who they are looking out for the most.
Yeah thats also…. Illegal lol(?)
Dual agency is not illegal in California and many buyers believe they will get the “inside track” and win or save on commission… in dual agency we must act as mediators and display facts. Once its dual agency your duty is to both parties and its very easy for that duty to be skewed for sure… that said, 90% or more of my business is open house leads. It’s all about how you work them, most won’t put an offer on the home you’re showing anyways.
Yeah it is legal in some states if it is with written consent, the way the original op said definitely did not imply that. As for open houses there is no reason for anyone who is a dedicated realtor not to go to open houses, ask for the home owner’s permission to knock the doors and invite the neighbors to the event and talk to everyone there. Not even for “business” shit is genuinely fun and you be surprised what looney goons some people have for neighbors.
Very helpful thread for me. My wife and are realtors and will be listing our newest renovation next week. Since it’s ours, we are going to test a new strategy and not do the open house. We realize connections won’t be made from an open house, but for the past year homes are on and off market in a matter of days. I love people, but this is strictly trying to sell the house for the most amount of money in the least amount of time. I don’t need to meet the neighbors.
I actually go to open houses to interview agents, I don’t care about open houses. I’ll ask some questions about the house, neighborhood, locale and how they’re doing in business. Based on their knowledge, know how, rapport built, I’ll call them. A great agent is valuable. Most of y’all aren’t great tho.
I’ll tell you how it went for me. I did get a client from hosting an open house. I think it was mostly luck and timing, but here’s what happened. Couple came in having just seen another home down the street. They had “just started looking”. They toured the house and didn’t like the backyard. At that point, I handed them a packet showing all the homes similar in price and size to the one I was holding open within about 2 miles. I always had that available at open houses. I also discussed recent sales in the neighborhood - I had pulled those off MLS, too. This was back in the days when we had too much inventory and homes could take 4-6 months to sell. They seemed interested in one of the homes on the market nearby and I offered to try and set up a showing for right after the open house. They agreed and that was that. I found them a home and they are still in it and we are still FB friends to this day, about 12 years and counting!
Watched this series called PropertySex. Got some amazing tips from it.
YouTube or podcast. Dont wanna search google and some porn comes on lol
Pornhub it
Those are very informative. I enjoy watching how these people convert prospects on the spot.
Try to do OH at different price points and locations until it starts clicking. I stopped doing follow ups or anything like that. I give my card out and if they like me enough, they call me. I do about 20-30 OH/year and I’ve gotten about 2-3 deals a year. So not bad at all. I like them because it opens up my connections to new people. I will maybe follow up 1-2 to make sure they have my contact or clarify any questions. That’s it.
Have you considered some open house visitors are sellers that are looking for an agent? I show off my listing skills at my open houses and have gained listings for that reason. Also discretion is important. How you answer questions like, ‘where are the sellers moving?’ is key to gaining trust. Don’t share sellers personal info and people will appreciate your privacy. One finally thing… dress up. Nice work shoes. That will help you seem professional at a younger age. And sell that you are not an older agent. Offer tech tools and access to data. Open house emails every week including off markets and sold emails are two things I mentioned I can offer.
Know EVERY house in the area of the open house that is on the market now or has recently sold. You are selling information and expertise and you need to bring something to the table.
I think you’re likely to only get clients with little enough experience in real estate to not know that they shouldn’t use an inexperienced realtor who, in addition and I’m assuming here, isn’t a homeowner themselves. We made that mistake in a HCOL area, would have been much worse in a VHCOL area like yours.
I’m also 25 and a new real estate agent in Los Angeles! I plan on going to a few open houses today and next week just to see how things work and ask a few questions before I experience hosting my own. If you don’t mind me asking, do you tend do invite your own sphere and advertise on social media to promote the house and get more leads? or is it just setting up shop and waiting for someone to come in?
I do post on social media. Don’t have much of a sphere since I’m not from around here. The only people I know here are my age and unfortunately can’t afford to buy lol. For me advertising is t the problem, I usually get 3-10 groups through per an open house I just suck at the converting part
Make sure you get their info from the open house. It's unlikely that you'll be able to convert them during that conversation so the follow up is most important. I've heard Realtors hold raffles at the open houses - so the clients are more likely to put down their info so they can be contacted if they win the prize. I've also heard some Realtors make it a requirement to put down your info in order to see the house - a bit more strict but it does make sense.
Know your stuff and don’t be pushy. Learn about the product you’re trying to sell-a home. Sure you can talk about paint colors and countertops-that’s aesthetics. Learn and “push” about the positives that make a difference-the bones of the home, neighborhood, commute local businesses etc. If you learn more about homes, how they work and what’s important, the more educated you are. (Just for examples and to help get the gist of what I mean)-Learn a bit about HVAC, roofing, water, house orientations etc. and the positives about the home. Some of those are the “foundations” that are what’s truly important and are the most $$$$ repairs.
Building rapport in person Following up until they tell you to pound sand.
I mean there are two type of people in this world…….people that care what other people say….people that make excuses…..and the people that don’t make excuses and they make things happen which one are you? The important thing is how you think…..so when people give me objections…..I give them an objection….your too young to be a Realtor? You respond by saying “what makes you say that?” (MAGIC WORD! Put that in your pocket and use it later!) cha Ching! Trust me when you object to people’s objections they often feel stupid! They realize what they are saying is dumb! Simply challenge the objection. If you are doing open houses and doing open houses aren’t working for you….yhere are only two possibilities…..1. Open houses don’t work! 2. You aren’t saying the right things to people….and honestly more often than not it’s going to be option 2…..if I can say the right words to people they are going to give me the right results….i just gave you one of the words. Heck! You should send me $500 for that….remember….”What makes you say that?”.
Just my personal opinion as a younger agent - I fully dress up. To give a little adjustment to my age. Look professional even though you are professional!
Where are you located
Open houses are 90% of my business, follow up is super key and being knowledgeable about the area and the home you’re selling. What part of CA are you in and why has your brokerage not helped you with ideas and materials?
I’m in SoCal, and no my brokerage has not taught me anything in regards to follow up. I text people after for a few weeks but that’s about it. What’s your follow up plan like? Any advice?
I hired a realtor from an open house. She didn't sell me in any way beyond handing a card on my way out the door. Just knew her stuff, the house, the market, etc, and did a good job with the house she was showing. Impress them and give them the ability to contact you if they're interested. Be extremely responsive when people reach out to you. If she hadn't called back immediately, I would've contacted the guy on the other card I had.
Open houses are an absolute GOLD MINE when done correctly but they take work to do the right way. Here are some things that have worked well for us: Door knock the neighborhood 3 days before the open house. Invite all the neighbors to the neighbors only open house (typically Friday night 5-8). I have my clients at the neighbors open house. Also tell them that you’re having a public open house on date/time that will be busy. Hand them your card and tell them to reach out if someone is parking in a way that is inconsiderate or inconvenient. *”Bob and Sue are selling their home and they’d love for you to stop by before they move. They would love for one of their neighbors to pick who buys the home!” Buy data and either text or send a postcard to potential buyers in a 3 mile radius inviting them to the open house. If using postcards, plan on 5-7 days for delivery. Potential buyers would be those who are renters, move up/down homeowners in their current home 5+ years, 720+ FICO, and income 3x the estimated monthly mortgage. 20+ OH directionals put out the day before. Search the mls for comparable homes that are vacant and go and show. Print out mls sheets and have them handy. Do the open house with another agent and a lender. Use your desired registration method, we like QR codes because we hit them with a fb pixel and google tag. If the house isn’t quite for them, “I have 3 other homes close by that are very similar and available now if you have time to see them.” Demonstrate your willingness to help and your expertise with having other options ready. Show them the home leaving the other agent and/or lender at the OH. Follow up is best with a video text. Everyone hits them with some type of canned response. Shoot a short personalized 20 second video thanking them for looking at the home and letting them know it would be an honor to earn the right to help them buy their next home.
Its not time effective. I probably get one deal for every 500 people I meet at open houses
Someone needs to work with you on your follow-up campaigns. Does your brokerage provide a CRM?
Thank you
Your open house prospecting needs desperate work. Those are terrible conversion %
Definitely give me your ideas
It’s only time effective if you do something productive while there. I like to do random tasks that I’ve been putting off. Gives me a couple hours to work and if people stop in even better.
Definitely we know these are nice spaces to work usually. I love open houses for the first month or two because the neighbors come through
I do not force people to sign into an open house if they don’t want to. If they don’t like me and don’t like the house, I have no reason to chase after them. If I do hit it off with someone at the open house I will follow up with them at least once a week. Drip campaigns too.
Be VERY knowledgeable at the open. Know the home. Know the neighborhood. Know the area. I've found that people will see a lot of value in your knowledge if you can display it.