Story Transcript
LAUNCH FOR
RE AL ESTATE BAS ICS NEW TO BUS IN ES S BR O KER S
MODULE THREE
O PE N H O U S E S
A NOTE
from
We’re facing an exciting time within the real estate industry as the entire home buying and selling process goes through a transformation. Brokers who are seeking to learn, grow, and improve will thrive over the next decade and our commitment at RE/MAX Integrity | Northwest is to provide the environment and opportunities for you to build the type of business you’ve always wanted. Throughout this training series, you’ll find all of the components necessary to build a highly profitable, scalable, and enjoyable business. We look forward to being a partner in your development and the growth of your business.
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There are many decisions you must make each and every day to run a successful business. This program provides basic information to help you. Please note: The program and materials are designed as a resource to reference.
FOR ILLUSTRATION ONLY
Certain sections of the materials illustrate how making changes to numbers, such as for costs and expenses, can financially impact an agent’s business. These sections are meant to be illustrations only and are not intended to be an exhaustive list of costs that may impact your business or to be specific to your situation. No promises, representations or guarantees of any kind are made about the success or profitability of your operations.
DISCLAIMER
This publication is designed to provide general information in regard to the subject matter covered. It is presented with the understanding that neither the author nor the publisher is engaged in rendering legal or accounting advice or any other professional services. If such legal advice or other expert assistance is required, the services of a competent professional should be sought. Publisher and author cannot in any way guarantee that this material will be properly used for the purposes intended, and therefore, assume no responsibility for its proper and correct use.
CONFIDENTIAL
Materials are confidential property. Any possession is considered to be a loan of assets and trade secrets.
REGULATIONS
It is assumed that all agents comply with the regulations of the state wherein they are licensed. When cold calling, be aware of the requirements of the national (and, if applicable, state) Do Not Call Registry before placing calls. Additionally, be aware of federal and state laws regarding calling consumers before 8 AM or after 9 PM.
Latona Ventures, LLC DBA 300 NE 97th ST Seattle, WA 98115 1st Edition © 2021, All Rights Reserved. An Equal Opportunity Employer
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INTRODUCTION
We believe transforming the real estate lifestyle means that creating and building a successful real estate business is a deliberate and intentional process. For this reason, we want to provide you with the tried and true systems, strategies, and procedures used by the most successful Brokers we know. While there are many ways to expand a real estate business, this program is designed to get you started right... to LAUNCH your career and make sure you have a strong understanding of the basics. Think of it this way: your Real Estate Exam course work taught you about real estate law and theory. We are here to equip you with what’s needed to actually build a thriving real estate practice.
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WHY HOST OPEN HOUSES? Surprisingly, the primary reason we host Open Houses is not to sell the house! The real reasons are as follows: z
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The Listing Broker’s marketing plan commits to the Seller that one or more Open Houses will be scheduled and hosted. It is an opportunity for the Open House host to meet potential Buyers and develop Buyer leads – this is one of the fastest ways for a new Broker to obtain Buyer opportunities.
Hosting a successful Open House requires a significant time commitment, planning and follow-through. If you follow these steps, you will set yourself up for an excellent opportunity to gain new Buyer leads.
NOTE Open Houses are almost always scheduled for weekends – however, that does not mean they cannot be held during the week or over a holiday. It can be harder to get the word out for a non-traditional Open House time, so keep that in mind when planning.
REALTOR ® SAFETY TIPS z z
Plan for an “escape route” – do not allow yourself to be blocked f rom a door.
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Let family/friends know where you will be.
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Keep your keys and cell phone with you at all times.
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Arrange for another Broker to co-host with you or bring a “buddy.”
If you feel you are in any danger whatsoever, dial 9-1-1 and leave the property.
OPEN HOUSE PREPARATION Meet with your Manager to identify a veteran Broker who has an upcoming Open House opportunity.
Post on Workplace that you are available to do Open Houses.
Print a copy of the MLS listing to review the property information.
Contact the veteran Broker to discuss the date, time and location and determine if this will work for both parties (veteran Broker and you); if so, commit to the Open House and add this to your schedule.
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OPEN HOUSE PREPARATION:
THE WEEK BEFORE
Schedule a meeting with the veteran Broker (either in-person or on the phone) to discuss the following: z
Occupancy status of the property
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Any special requirements the Seller may have
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Will the Seller be away from the property during the Open House?
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How to contact the Seller to set up a preview of the property before the Open House How are pets to be handled (if applicable)? Find out if there is other important information about the property (e.g., unpermitted living spaces/ outbuildings/ location of well and septic, etc.) Did the veteran Broker discuss with the Seller locking up valuables and prescription medications? What advertising (if any) will the veteran Broker run – will this be at the veteran Broker’s expense? Will the veteran Broker add the Open House information to MLS (or would they like your assistance to do so)? Does the veteran Broker have any suggestions for placement of Open House signs? IF not, then determine the best locations for Open House signs (be mindful of any rectifications in place by HOAs or local municipalities). Obtain the Open House signs. Access the public records of the property and print if the Listing Broker does not have one. Obtain permission to download property photos f rom MLS for any marketing/ flyers you will do or obtain direct access to the veteran Broker’s photos for the property. Schedule a preview of the property – assess safety issues. Attend MLS Tour so that you can practice opening a lockbox before going to the Open House property. Meet with a lender to discuss creating co-marketing flyers and/or create marketing flyers with RE/MAX Design Center or our Brokerage Marketing services.
OPEN HOUSE PREPARATION:
THE WEEK OF
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Consider offering an incentive to encourage guests to sign-in (for instance, a drawing for a coffee card).
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Prepare and print Open House Sign-in Sheet.
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Print flyers.Mail Open House postcards to neighbors/sphere (if desired).
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Door knock around neighborhood inviting them to Open House (if desired).
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Reserve and pick up Open House signs if available at your office.
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Make a video of the neighborhood and post on social media.
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Prepare and print current market stats.
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Prepare and print information about local area/neighborhood market.
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Prepare and print information about alternative properties that are available if the Open House does not fit in Buyer’s parameters. Prepare a project to work on when nobody is viewing the home: use your time wisely, this could be a great time to write personal notes and/or thank you notes to your sphere. Prepare your Open House kit: a tote bag with
Serving dish for food give-away items (hard wrapped candy/ individually wrapped snacks or treats)
Napkins
Business cards
Flyers
Sign-in Sheets
Pens (for sign-in sheets and notes)
Folding chair (for vacant property)
Toilet paper
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OPEN HOUSE PREPARATION:
THE DAY OF
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Load Open House kit and signs into car.
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Arrive at least 30 minutes early.
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Set up Open House signs at pre-determined locations.
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Park vehicle down the street.
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Pull any existing flyers from flyer box (if applicable).
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Enter property and lock the entrance door behind you.
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Set up sign-in sheet, pen, flyers, food in convenient location.
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Open window coverings.
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Open windows and sliding doors, if appropriate.
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Turn on all lights in the house, including closets.
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Close toilet lids in the bathrooms.
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Kitchen sink must be spotless.
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Put away knives.
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Set up your traveling office in the property. Be able to access the MLS if the opportunity arises to search listings for potential clients, to review new listings if there is a lull during the Open House, or to send and receive emails. Verify that valuables or prescription drugs have not been left in the open. Be aware that video and/or audio surveillance may be functioning in the home watching and listening to you.
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Keep keys and cell phone with you.
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Unlock the entrance door when you are ready for guests.
DURING THE OPEN HOUSE GREETING BUYERS
Be friendly and inviting! Greet the guests in this order: Thank you, Introduction, Instruction “Hi, thank you so much for coming to the Open House” “My name is “__________” with “__________.” “Take a look around the home and if you have any questions about this home or the real estate market, I would be happy to answer them.” Try to get every guest to sign in; note if a Buyer is currently working with another Broker. Encourage guests to tour the home on their own and to let you know if they have any questions. Remember: if you don’t know the answer to a question, let the guest know you will research the answer and follow up with them; obtain contact information so that you can do so.
ENGAGE IN CONVERSATION
After the guests have their “bearings”, or have already toured the home and you sense they are comfortable, approach them and ask questions to engage them in simple f riendly conversation, for instance: “Are you from around here?”
IF “NO”:
IF “YES”:
“Where are you from?”
“Where do you live now?”
“What brings you to the area?”
“How long have you lived there? How do you like it?”
“How soon do you plan to move?”
“What homes have you seen that you particularly like?” “Do you own your own home or are you renting?” “How have you been going about looking for homes?” (This question will give you a clue if they are working with an agent already.)
“How did you hear about the Open House?” “How does this home compare to others you have seen?” “Does this home suit your wants and needs?” Be friendly and interested. You won’t have the look of dollar signs in your eyes if you are genuinely interested.
OTHER QUESTIONS YOU CAN ASK: “How did you hear about the Open House?” “How does this home compare with others you have seen?” Make notes about the guests so that you can remember them better, as well as identifying any follow-up items. If you have an urgent need for information, contact the Listing Broker – not the Seller.
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SELLING YOURSELF BE SURE TO ASK: “How are you going about looking for homes?” Tell them, “I would be happy to assist you with any real estate matter you may have now or in the future, IF you are not already working with a real estate agent.”
YOU ARE NOT BEING PUSHY. YOU ARE BEING HONEST AND SINCERE. If it feels appropriate, ask their opinion of the house. Ask what features met their needs and which did not. If it appears that this house simply did not meet their needs, ask whether you can show them listings on your device if they are not already working with a Broker. Since you will have your wireless device set up and accessible, you can easily input the criteria for the home they are interested in and in minutes have listings that fit their criteria. Tell them you would be willing to meet with them in the next week and show them these properties. You do not want to spend more than a half hour with each prospect. Your main purpose is to sell the Open House and responding to property specific inquiries is your primary objective.
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WHEN THE OPEN HOUSE ENDS z
Lock the entrance door while you wrap up.
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Check all other windows and doors to ensure they are closed and locked.
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Close all blinds/curtains that you opened, and turn off any lights you turned on.
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Replace any items you may have moved (e.g., knives).
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Repack your Open House kit.
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Lock the door and replace key in the lockbox.
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Replace flyers in the flyer box (if applicable).
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Pack your vehicle and pick up your signs.
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If the Seller returns before you leave, be polite; let them know you are following up with the Listing Broker who will give the Seller a full report. Call/ text/ and/or email the Listing Broker with an Open House report, including number of groups that came through, level of interest, any additional questions you have, any observations you would like to share. Call and/or email Brokers to let them know their client visited the Open House (if applicable).
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AFTER OPEN HOUSE FOLLOW-UP (12-24 HRS) z
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Call Open House guests to thank them for stopping by, and to ask if you can help them find other properties; identify criteria; and obtain additional contact information (e.g., mailing address / email address, etc.).
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Send email follow-up if you do not have a phone number.
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Send hand-written notes to everyone with a mailing address.
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Set up Buyer searches for potential Buyer leads.
Select a “winner” for incentive drawing; contact the winner and arrange for delivery of the prize (if applicable). Update your network database with Open House guest contact information; categorize the leads and set up with appropriate drip campaigns. Write handwritten thank you note to Listing Broker.
WRAPPING UP I have scheduled my first Open House hosting opportunity. I know which title company I will contact to order a listing kit/Trio. I know which lender I will contact for flyers; or I will create my own flyers using Design Center or contact the Brokerage Marketing Department. I have a clear Safety plan for hosting an Open House.
HOMEWORK ASSIGNMENT Pick up Open House signs. Create Open House kit. Schedule or Shadow an Open House.
NOTES
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FIRM BELIEVERS that anyone can learn f rom everyone, we strive to create a friendly and supportive atmosphere where community, curiosity, and creativity are all nurtured to allow for successful entrepreneurial collaboration. We also understand that real estate growth, is all about personal growth so the staff constantly works at developing ideas, tips, and tricks that will help de-clutter and de-stress our Brokers’ lives.
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