This is the last segment on my discussion on conducting open houses in the Phoenix real estate market.
To read the earlier posts, click The Art of the Open House: Part I and The Art of the Open House: Part II.
Part III focuses more on dialogue with visitors to my open houses.
Dialogue About the Property
When I get visitors to the open house, I make sure to give them a brief explanation of the property as well as detailed flyers that call out any information I didn’t cover. I may interlace the explanation with questions but not always. Here’s an example.
“Hi, I am David Lorti. Welcome to the open house.”
I might then prompt them to come in and sign in.
“I’ve got some information on the home here in the kitchen. Could I get you folks to sign in?”
I might explain the need for signing in if asked or call it out at this point anyway.
“Let me tell you a little about the home. It is 3 bedroom 2 bath and 1,850 square feet. It has a 3 car garage with pool and spa and is priced at $275,000.”
Now, if there are any particular recent details worth calling out, I might do that.
“We just lowered the price two days ago to $275,000 which makes us the least expensive home in the community. As well, the owners are open to painting the two kids rooms if the buyer would like.” Or,
“Be sure to check out what the owner did in the basement. It’s pretty nice.”
Now, if there is a particular feature I believe will have particular importance for the visitors, I would add something like this.
“Just to let you know, there is additional ceiling storage racks in the garage so your garage space is freed up as well as a 10 foot RV gate on the side of the house.” Or,
“The home is within Kyrene School District boundaries for these schools…”
The point is to deliver the basic information here but also add anything that might be well suited to the people you just met. Keep it brief though as people really want to get into seeing the home. However, stay alert for any cues that might help to build rapport.
Now, having said the comment about rapport, it is my experience that you have to be quick to deliver the message you are trying to convey beyond this initial phase. This gets into feeling the people out in terms of possible interest in this property or interest in other properties where you might be able to help them. There may not be time to build rapport so you may have to just strike while the iron is hot.
Ask Questions
I will try to ask as many questions as I can in order to determine any interest in the property. The fact is that I can’t provide good feedback to my client if I don’t ask questions. I want to know if this property may be of interest to a visitor first. If not, then I can try to get them as a client. I might initially ask,
“Do you live in the area or were you driving by?
This question helps me to cut to the quick if the visitors are neighbors or drive-bys. Neighbors are more often curious for the sake of their own property values and comparisons.
“What did you think?,” or “How did you like it?,” or “How’s it work out for you?”
My questions might also get to understanding their needs.
“Are you looking specifically for a 4 bedroom home about this size?”
“What about the…is that what you are looking for?”
The point is to get them talking about what they are looking for and how it might map to your listing as well as to other properties if you determine first that the property you are sitting just isn’t going to work. I never lose sight of this principle. I am trying to sell my client’s property first.
Cut to the Chase
If there is any sense of interest in the property at all but time to talk is short, cut to the chase here. You need to “close” here to find out information and how you might be able to extend the engagement in the future. You can ask specific questions like:
“I can send you the detailed information on the property via email. Would you like to get that?”
“Is it okay if I follow-up with you to see if you have any other questions about the property?”
“I’d love to follow-up with you to see if there is anything else you have questions on or if there is anything else I can help you with.”
Give Feedback
I try to call my clients and explain how the open house went while it is still fresh in my mind. This might be at the very end or while I am driving picking up my signs. Occasionally, I will summarize and email it over if they can’t be reached by phone.
Follow-Up and Follow-Through
Whenever I get a request at an open house for additional information on the property or other inquiry, I make sure to follow-up and follow-through. That means I send them the additional information or respond to their inquiry with me. This is important. After all, if you don’t do this, then what is the point of sitting the open house in the first place.
Communicate Again to Your Client
If there were any loose ends in terms of possible interest in the property after the open house, then call or update your client with the information again later. So, if a prospective buyer liked the property but was thinking it over and asked you to call in a few days, then let your client know the latest once you have spoken to that person or resolved some similar outstanding item.
Be Flexible and Try New Things
You have to be open and flexible to new or potentially better approaches. I am always looking for another method or approach to try at open houses in order to make them the best they can be. So, I have tried many tweaks on marketing, dialogues, signage, etc. trying to find improvement ideas and will continue to do so.
Summary
Conducting open houses is an art, though very deliberate at times in implementation. I have outlined tips and practices that I do which I believe are very useful.
I thought home sellers, buyers, and other Realtors would have interest in seeing a more detailed perspective on how I approach open houses in the Phoenix real estate market.
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