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10 Real Estate Open House Tips the Pros Use

SignOpenHouseYLV-650

Open houses can be stressful events. How clean is clean enough? What food should you serve? Who should you invite? Where should you post signs?

We’ve asked leading real estate professionals for best open house tip, and their answers cover the basics (clean and stage the house) to the innovative (hire a drone banner to advertise your event). You’ll definitely want to take notes, and be sure to let us know your favorite open house tips in the comments below.

A huge thank you to everyone who offered their advice!

  1. Create a property website.

John Bodrozic, http://www.homezada.com

Most people when they visit an open house, are pulling out their mobile phone to take more photos of the house to remember / evaluate it later in the day or a day or two later. In addition, buyers usually end up visiting 3 to 5 house in the same day, so how do they remember your house versus the other ones they saw?

A good marketing strategy is to create a property website where you already have photos of every room in the house from multiple angles, as well as close up photos of all the interior and exterior features of the home. Once you have this, then provide a simple flyer with a QR code / short url link as an easy way for visitors to the open house to see all the photos, especially after the leave the house.

  1. Advertise your open house on Facebook.

Justin Kerby, Founder, CaveSocial.com

Open Houses: We’ve had great success promoting open houses on social media for our clients. Typically, we include 4-6 photos of the home in a boosted Facebook post, which links to a landing page where visitors can see a little bit more about the home, and fill out a contact sheet to be notified when the open house is taking place. This is a great way for real estate agents to generate leads for themselves, as well as draw attention to the open house they’re promoting.

  1. Paint the house in the best possible light.

Ryan Wilkerson, Realtor/Partner, SURE Group RE/MAX SAILS

Turn all lights on and open all blinds/curtains, remove everything off of countertops (not only does it look cleaner but it gives the appearance of a larger space which is very important in areas like the kitchen).

Remove all personal items if possible (family pictures on the refrigerator or framed around the house) you want all possible buyers to envision themselves in this home , by removing personal pictures you are no longer reminding them that they are walking through a strangers home.

It should go without saying BUT the home must be entirely clean, organized and tidy (beds made, junk should be organized or thrown away). A Seller’s home is their home until the day they decide to list, once that decision is made the home becomes a product. A product that is going to be consumed by the marketplace, so you always want to ensure you put your best foot forward.

  1. Team up with other agents.

Jay Thompson Zillow For Pros Blog

Talk to other agents with listings in the area and coordinate a “neighborhood open house weekend.” Having multiple homes in the area held open will attract more traffic, and you can all take advantage of each others’ marketing efforts. Try something fun like creating a “punch card” or “open house bingo” where visitors get a stamp at each house they visit and can turn it in at the end for a gift card or prize drawing.

  1. Partner up with local artists and/or interior designers.

Yvette Brown, Managing Broker, PARAMOUNT & BOND

Engage local artists and/or interior designers allow them to use your home as a staging platform for their works. Have the Open House showcasing their work and the home at the same time.

  1. Make sure you give attendees these 3 handouts.

Republished from Referral Exchange

Mortgage Loan Breakdown – Helps prospects understand the potential costs of financing the property.

Glossary of Home Ownership/Mortgage Terms – A single sheet of key terms and phrases can be extremely helpful to both first-time buyers and move-up buyers who haven’t purchased a home in a while.

Neighborhood Information – Note local schools, grocery stores or restaurants and the “walk score” of the home. And don’t forget today’s buyer concerns such as the best cell phone carrier/coverage for the area (very important in hilly, mountainous and coastal areas).

  1. Come prepared with the right information.

Zach Hammer, Marketing Director, The Snyder Group: Team Driven Real Estate

Here are some of the ideas from members of our team:

Know homes for sale, builders, and floorplans of the whole area around your open house. The people who come into your open house may have no interest in that home in particular, but you can still be valuable to them by knowing what is available and helping them to find the best home for them. For residents of that community, knowing the nearby builders and floorplans will allow you to talk to them with a degree of expertise, potentially lending more of an idea to them of what THEIR home could be worth.

  1. Collect email addresses to keep interested lookers informed about future open houses.

Trevor Ewen, Neosavvy Labs

Collect email addresses the moment people show up. Do not bother them with advertisement, but have photos sent to their email addresses immediately after they view the house. This will keep the property on their mind, and expose them to things they may have not seen/noticed (ideally nice things).

  1. List in the correct radius.

Republished from the Tom Hopkins blog

In order to have a productive open house, you have to invest time and effort–which is the same thing as money. Before you commit yourself to such an investment, make sure that the property you want to hold open has what it takes. Here are the five things you need:

Make sure it is priced right. Any neighbors who visit your open house probably have some idea of selling, or at least refinancing, in the not too distant future.

Create good traffic flow with directional signs off a main thoroughfare. It doesn’t make sense to hold an open house when no one can find it.

List within your service area. Don’t drive forty miles to hold an open house.

The sellers must be gone. Buyers only go to open houses to avoid contact with either owners or salespeople who are too pushy.

Stage the home. The sellers must know that the house must be impeccably clean for starters.

  1. Hold an agents only open house.

Troy Balakhan, Licensed Real Estate Sales Associate, Keller Williams Jupiter

Open house specific tips:

If you’re holding a broker’s open (an open house for agents only), build a list of every agent that has sold a house in the neighborhood in the past year, as well as all the active buyer’s agents in the area, and call them to personally invite them to the event. Have refreshments and hors d’oeuvres ready for your guests. This leaves a lasting positive impression.

At the open house event, make sure you know all relevant information from the neighborhood, such as the average (closed) price per square foot, how many homes are currently listed for sale and their prices, and what homes have closed in the past 90 days and their prices (if you have access to that information). Know the homeowner’s association dues and what they cover.

Source: fitsmallbusiness.com by By Jaqueline Thomas

Your Loan in the Valley

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4 reasons you will fail as a real estate agent

MadRealtor

Success requires a particular mindset especially when life and clients throw you a curve ball.

  1. You won’t prospect.

Prospecting conjures up big-time fear in most people’s minds. We’ve been conditioned to associate the word “no” with rejection, failure and pain.

So you have subconsciously learned to associate “no” with not getting what you want. It’s normal — don’t feel badly about it — BUT you have to start getting back on track and reassociating “no” with what you want.

Real estate is a numbers game — no matter how you slice or dice it. I hear a lot of real estate agents say they aren’t in sales, that they just want to help people. There’s nothing wrong with that, but if you want to increase your business and help lots and lots of people, you have to work through the numbers.

If you are going to have success in real estate, you have to prospect. There are about a million ways to prospect in real estate.

  1. You won’t follow up.

Follow-up is everything in real estate. How many times have you talked to somebody for the first time and they say, “Yes, I want to buy or sell a home immediately! Where do I sign up?”

Yeah, almost never.

You can’t build a lasting, concrete, sustainable business that way.

Many agents give lip service to follow-up and tell people they’ll call when they are supposed to, but lack the decision to set up a follow-up task to do so. It fascinates me how many people I see in the business world (not just real estate) that say they are going to call me at such and such a date , or do something for me, only to find out it doesn’t get done! It’s actually more normal than abnormal, and that’s not OK.

If you want to last in real estate, simply be a person of your word. Everyone admires someone who does what they say they’ll do.

  1. You’ll let one bad experience throw you into a downward spiral.

This one is huge!!! As humans, we tend to enjoy drama. All you have to do is turn on TV and find all of the great reality TV shows out there (sense the sarcasm) and you know what I’m talking about. We love to wallow in how bad a situation is and give it all of our time and energy.

Stop it!

We know it’s hard but you have to train yourself to do it. Otherwise, you’ll end up broke, depressed and unhappy.

So what do you do when something bad happens in your business, like you lose an escrow, a client you thought was solid says they are going to work with another agent, you get a letter from the local department of real estate, a client yells at you? Is your stomach turning yet?

Here’s the secret: Keep moving. Deal with the situation and do the best you can to remedy, and if you have given everything you can into turning it around or finding a solution, move on and do something else productive. Don’t let it suck you down to the bottomless pit of anxiety. That isn’t going to help you get what you want. A good word to describe this is to compartmentalize your thoughts and actions. It’s crucial for your business success (and life success, really). What we mean by this is don’t let the bad feelings you have from one problem bleed over into other parts of your life.

  1. You’ll think the business is too hard, when the truth is you just haven’t made the decision to be great yet.

We’re sure we might get some backlash on this, but we believe it’s important to speak the truth. Real estate is not a complicated business. You find people who want to move from one place to another, and assist them in that process. Simple. We didn’t say it was easy — it’s just not complicated. If you talk to (the right) people, be genuine in your approach and have a proactive plan of follow-up, you’re going to do well. You just will. Source: inman.com by Matthew Coates

Your Loan in the Valley

Get more Real Estate Business!

Pre-qualify Prospects and Referring Partners so you get more Real Estate Business

ID-100260430Generating new clients is a key to success in any business. So you want to make sure you are focusing on clients that are ready to move forward and not wasting time others. When you are talking a lead or potential prospect, ask yourself these questions as a way to qualify them. If they meet all five, you have yourself a solid prospect and you will be on your way to doing business with them. If someone doesn’t meet all FIVE requirements, they are probably not a good match and your time would be best spent speaking to other potential clients.One thing to keep in mind, especially when speaking with prospects, is that some of them will be very well off and others have been through a very difficult time and are going to be defensive. Always be as pleasant as possible and don’t take things personally.

1) Cooperate: When speaking with them, are they amiable and willing to cooperate? Although they may be facing challenges because of today’s market or because of credit issues, that is fine, but if they get belligerent or angry with you, you do not have to work with them.

2) Plea for Help: Do they want to be helped? Find out their “hurt” and show them how your product or service is the “cure”

3) Realistic: Do they have realistic expectations? Does the prospect realize that the current value of their home may not be the same as it was few years ago? If financing is involved, do buyer prospects realize that loan programs are not the same today as they were 2 years ago.

4) Conversation: Are they willing to have a conversation with you? Do they even answer the phone or have they been avoiding you for weeks? Are they short with you and give clipped, one word answers or do they at least provide a little dialogue? Follow the rule of three, once you have left them 3 messages if they do not respond throw them away and move on.

5) Action: Do they want to move forward anytime within the next 2-14 days? Are they motivated and ready to move forward now?

Qualifying your prospective clients quickly and effectively is a skill that is sure to bring you massive success in any industry. Source: propertysolutions123.com

Your Loan in the Valley