As a licensed Real Estate Broker, I have came a crossed many situation and expand my knowledge in various areas of real estate to continue to support agents as well as the tools and services offer on our online PaaS FirmRE.biz.
One constant question I get asked is how am I able to source out real leads, prospects and ready buyers from our open houses. Open house visitors fall into several categories, but there is some general types: The homeowner, the new homeowner, the window shoppers, the competition, the criminal and the serious buyer. To name a few.
- The Homeowner – They often live in the same neighborhood, and they’re curious about competing properties prices, styles and listing price. This could be great new potential for a seller lead.
- The New Homeowner – They recently purchased a home and are looking for validation that they didn’t over paid and new home ideas. Even though this type of visitor, recently just purchase a property, it doesn’t mean they don’t have friend that might be looking for a new home. Their is a huge percentage of new home buyers, who will reach out to friends and request or ask to purchase in their same neighborhoods, like many baby boomers and millennials often do.
- The Window Shopper – They are really not on the market to buy a house, but they are curious what it looks like, price, and affordability. This type could be a huge source of leads and prospects… Only because they are not ready at the moment, it doesn’t mean you cannot help them get ready faster.
- The Competition – The new agent, office colleague, other brokerage agent and part time agents. They are the agent who is really trying to see what you are doing, comparing your style and marketing techniques. This could be great referral sources. Real Estate is about local knowledge and knowing your product, just like any other sales position… So don’t let this great opportunity to network with another agent and exchange contacts, referral fees, and maybe co-broker farming area borders.
- The Criminal – Yes, unfortunately Real Estate [even though many don’t see it that way] is a very dangerous industry. And many new agents, do not take enough precaution when assisting a new leads or prospects. This individuals will enter open houses to view the house to potential rob, some might try to mug the agent if alone in the house, or even try to sexually assault a lonely agent. So take precautions when at your open house, make sure your broker knows, have other agents in your office be at the open house with you as support and companion, or even have someone on the phone with you, during any visitors…
- The Serious Buyer – They likely will be asking lots of questions. Keep detailed listening skills here. Listen to words like ” I am already qualified”, “How soon can we close”, and many other triger clues they are ready. They usually have lots of community folders and other property flyers. Be aggressive, informative and knowledgeable with this ready buyers. Try to understand THEIR NEEDS, THEIR HOLD BACKS and remove all objections… Remember always ask for the sale! and have a RE contract available to produce an offer to your seller customer. At the end of the day, that is why you are having an open house.
Always be ready at your open houses. Have a sign up sheet, and make every visitor to your open house sign in. This will help you follow up and create visitors in to prospects, with ongoing marketing. Have give a ways, this are great for visitors to remember you and the home you are trying to sale. Make a great impression, as the knowledgeable in the area and products [inventory] in your area. You never know when any of the visitors mention above [except the criminal] might turn into your new customer.