Power Session 7: Open Houses Lead Generation 36:12:3 Power Session 7: Open Houses

Power Session 7 In this Power Session … Introduction Open Houses Work! Before: Prepare and Promote During: Build Trust and Qualify Leads After: Follow Up! Be The #1 Market Agent Putting It All Together Page 1

Introduction Ground Rules Arrive on time. Form groups quickly. Power Session 7 Ground Rules Arrive on time. Form groups quickly. Limit side conversations. Turn off cell phones and pagers. Be comfortable. Respect time. Respect each other. Help each other. Respect confidentiality. Have fun! Page 3

Introduction How You Will Learn Learning Methods Manual Classroom Power Session 7 How You Will Learn Learning Methods Manual Models/Systems Exercises/Discussion Stories Classroom PowerPoint slides KWConnect videos Classmates/Instructor (continued) Page 4

Accountability Feedback Loop Introduction Power Session 7 How You Will Learn Accountability Methods Lead Generation Action Plan Accountability Partner/Program 1. Set Goals 2. Do Key Activities 3. Measure Results 4. Evaluate Process 5. Make Adjustments Accountability Feedback Loop Page 4

Introduction EXERCISE Where You Are Today Time: 10 minutes Power Session 7 EXERCISE Where You Are Today Lead Generation Activities My aha’s from these activities The most difficult part of these activities What I will do differently in the next 24 hours Time: 10 minutes Page 5

Introduction Why You Are Here Open Houses Turn Haven't Mets into Mets Power Session 7 Why You Are Here Open Houses Turn Haven't Mets into Mets Buyers Haven’t Mets Leads Mets Sellers Page 6

Introduction Arlington, Virginia Power Session 7 “Open houses are the easiest, simplest, fastest, and cheapest way to grow your business.” Ron Cathell Arlington, Virginia Page 6

Introduction Power Session 7 Why You Are Here You are here! Page 7

Introduction What Will Make This a Great Training Experience Page 7 Power Session 7 What Will Make This a Great Training Experience Page 7

Open Houses Work! Question Answer Power Session 7 Question Are you at the open house to sell the house or pick up buyers and sellers? Answer You are there to do both. Page 9

Open Houses Work! What buyers and sellers think about open houses Power Session 7 What buyers and sellers think about open houses 47 Visit an Open House 7 Buyers Use Agent from the Open House 40 Buyers Leave Open House Unrepresented or Represented by Another Agent 100 Buyers Page 10

Open Houses Work! EXERCISE Best Open House Ever! Power Session 7 EXERCISE Best Open House Ever! Recount to the group the best open house you ever attended (or held). What made it special and memorable? If you attended, how were you treated by the agent? If you hosted, what were the results? How many leads were generated? Time: 10 minutes Page 11

Open houses are only for new agents looking for buyers. Open Houses Work! Power Session 7 Myth Open houses are only for new agents looking for buyers. Truth Experienced agents continue to leverage open houses to generate both buyer and seller leads. Page 12

Open Houses Work! Myth Truth Power Session 7 Myth I don’t have any listings, so I can’t hold an open house. Truth Use another agent’s listing. It’s a win-win for both of you. Page 13

Open Houses Work! Myth Truth Agents “sit” open houses. Power Session 7 Myth Agents “sit” open houses. Truth Great agents “work” open houses. Page 13

Open Houses Work! Sharon Ketko – “The Builder’s Wife” Power Session 7 Sharon Ketko – “The Builder’s Wife” 5-6 homes open every Sunday Prospecting and marketing to the open house Results from open houses! Page 14

Open Houses Work! Takeaways for Agents in the Growth Phase Power Session 7 Takeaways for Agents in the Growth Phase Open houses produce buyers, sellers, and referrals. Set a goal for your open houses. Do everything to get many people there. Hold consistent weekend open houses. Team up with others and hold 5-6 together. Page 15

Open Houses Work! Power Session 7 Open House Model Page 16

Before: Prepare and Promote Power Session 7 Preparing for an open house Set open house goals. Decide which house(s) to hold open. Stage the house. Prepare to build relationships. Prepare to be the neighborhood and market expert. Be safe! Page 17

Before: Prepare and Promote Power Session 7 Preparing for an open house Set open house goals. Number of leads you want to get Number of Haven’t Mets converted to Mets Number of buyers Number of sellers Percentage of attendance to number of invitations Number of open houses you will work in given time Page 17

Before: Prepare and Promote Power Session 7 Preparing for an open house 2. Decide which house(s) to hold open. Is the house in a high-traffic area? Does the house have special features? Is the house in a desirable neighborhood? Page 17-18

Before: Prepare and Promote Power Session 7 Preparing for an open house 3. Stage the house. Does the house have curb appeal? What do you see when you walk in the door? Do you have a seller’s open house checklist? Page 18

Before: Prepare and Promote Power Session 7 Preparing for an open house 4. Prepare to build relationships. What questions will you ask your guests to build rapport? Page 20

Before: Prepare and Promote Power Session 7 Preparing for an open house 5. Prepare to be the neighborhood and market expert. How will you tell the neighborhood history? What do people really want to know? Have you prepared an Information Packet? Page 20

Before: Prepare and Promote Power Session 7 Preparing for an open house 6. Be safe—Five tips for safety Check rooms for “escape” routes. Check backyard for high fences. Check cell phone’s strength. Notify friend to call at set time. Walk behind guests during tour. Page 22

Before: Prepare and Promote Power Session 7 Preparing for an open house What do buyers want to know? What do sellers want to know? Page 22

Before: Prepare and Promote Power Session 7 Prospecting around open houses Should I prospect, or should I market? Page 23

Before: Prepare and Promote Power Session 7 Prospecting Proactively seeking leads Page 23

Before: Prepare and Promote Power Session 7 Todd Butzer Regional Director Edina, Minnesota What are your aha’s? How do you prospect with the neighbors before an open house? What has worked? What hasn’t? Page 24

Before: Prepare and Promote Power Session 7 Debbie Zois Mega Agent Las Vegas, Nevada What is your experience with knocking on doors? Page 25

Before: Prepare and Promote Power Session 7 Marketing Passively attracting leads Page 27

Before: Prepare and Promote Power Session 7 The Power of Signage Your Listing Competitor has dominant market share Page 28

Before: Prepare and Promote Power Session 7 The Power of Signage Your Listing Now who has dominant mindshare? Page 29

Before: Prepare and Promote Power Session 7 Signage Design, What Matters? Brand yourself. Be sure to put your name in large print on all signs. Goal: people will see your name over and over again! Page 30

Before: Prepare and Promote Power Session 7 Signage Placement Open Sun. 2:00-4:00 Page 31

Before: Prepare and Promote Power Session 7 Tips for Signs: Invest in a large quantity of signs Your name in large print Use colorful balloons Place 10+ signs out Put out signs five days before open house Ask neighbors with corner lots to place signs Place directional signs at every turn (max. 3 turns) Put your phone number on open house lawn sign Page 31

Before: Prepare and Promote Power Session 7 Sign Design How would you improve these signs to make them more effective? Page 32

Before: Prepare and Promote Power Session 7 Great ideas for promoting your open houses Local and Metropolitan Newspapers Mail-outs MLS system Craigslist.com Internet Marketing KW Coaching and Courses www.HomesOpenToday.com Page 33-35

Before: Prepare and Promote Power Session 7 Bob O’Bryant Top producer Orlando, Florida “10 Minute open houses” Goal: to get listings Marketing opportunity Page 36

Before: Prepare and Promote Power Session 7 Open House Checklists Review open house checklists on pages 37-38. Page 37-38

During: Build Trust and Qualify Leads Power Session 7 EXERCISE Group Discussion What actions can an agent take to build trust with buyers and sellers? How does building trust affect the rapport you have with buyers and sellers? Time: 5 minutes Page 39

During: Build Trust and Qualify Leads Power Session 7 The Trust Mindset – Consistency is Key Have you prepared and promoted your open house with consistent high quality? Have you internalized your scripts? Have you written goals and an action plan for the open house? Have you considered what your guests will be looking for? Page 40

During: Build Trust and Qualify Leads Power Session 7 Greet and Build Rapport Look for clues for how you can meet their needs. Find out what is motivating your guests to come to your open house. Ask about their family and school needs. Ask, “What, Where, Why, When and Who” questions. Page 41

During: Build Trust and Qualify Leads Power Session 7 Tour the Home Balance your conversations. Qualify quickly when multiple groups arrive at the same time. Tell your guests something positive and distinctive about the home, right when they come in. Set a positive tone! Page 42

During: Build Trust and Qualify Leads Power Session 7 The Contribution Principle Ask your guests what market information they need. Arrange to drop off or send the real estate information to them. Once you contribute to their needs, then ask them to sign your guest book. Page 43

During: Build Trust and Qualify Leads Power Session 7 Ask for Business Ask for Referrals “Would you like to buy the house?” If not, suggest other homes in the neighborhood, or other neighborhoods that may meet their needs. “Who do you know who might like to see this house?” Page 44

During: Build Trust and Qualify Leads Power Session 7 Thank Guests At the end of the tour, make an appointment to see them again Make Notes Jot down specific information about guests Activities when no guests are present Make calls, send notes, email, and work your database! Page 44-45

During: Build Trust and Qualify Leads Power Session 7 Nikki Ubaldini Palm Harbor, Florida Scripts for conversations Why do you want to be in control of your conversations? Page 46

During: Build Trust and Qualify Leads Power Session 7 EXERCISE Role Model Demonstration Watch as your instructor demonstrates some of the key open house scripts in this section. Time: 5 minutes Page 47

During: Build Trust and Qualify Leads Power Session 7 EXERCISE Script Role-Play Basic Open House Scripts (See pages 48-53) Qualifying Scripts Time: 10 minutes Page 47

After: Follow Up! The One Main Action Step: Follow Up! Power Session 7 The One Main Action Step: Follow Up! Update your database Follow up with seller and listing agent Follow up with guests Follow up with visiting agents Page 55-56

After: Follow Up! Importance of follow-up with all attendees Power Session 7 Importance of follow-up with all attendees You guests could be: Buyers who will buy with you Sellers who will list with you Haven't Mets waiting to be converted to Mets Agents who could be recruited Any of the above who may refer business to you Page 56

Be The #1 Market Agent Chris Cormack Ashburn, Virginia Discussion Power Session 7 Chris Cormack Ashburn, Virginia Discussion What did Chris do to be the #1 Market Agent? Why would you want to be the #1 Market Agent? Page 57

Be The #1 Market Agent Power Session 7 “The tragedy in life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.” Benjamin Mays Page 58

What is your goal toward becoming Be The #1 Market Agent Power Session 7 What is your goal toward becoming The #1 Market Agent? Page 58

Putting It All Together Power Session 7 Power Session Aha’s Your Lead Generation Action Plan Open House Action Plan Lead Generation Action Planning Worksheet Page 59-61

Putting It All Together Power Session 7 Your Lead Generation Action Plan What are you currently doing with open houses? What is your open house goal, by what date? What activities will you do to ‘close the gap?’ Page 59-61

Putting It All Together Power Session 7 The 3-Hour Habit Time block 3 hours every workday before noon. No skipping. If you must erase, then you must replace. Allow no interruptions (unless they truly are emergencies). Page 62-64

Thank You for Being Here! Don’t forget your evaluations!