People in sales are taught early on to build a big list of possible leads. After all, there is no customer or client who was not at first a prospect. So, we want to identify those people as soon as possible. Not everyone we encounter will be realistic, creditworthy, or even seriously looking for what we have to offer. Why waste their time, why waste ours? We collect names, numbers, email addresses, zodiacal signs, whatever it takes to pour all those prospects into the “funnel” so one true customer will shake out of the bottom.
For those of us in real estate, the open house is the ideal place to begin that sifting process. If there is a house for sale, what better way to get potential buyers interested in the property than to simply invite them inside. We greet them at the front porch before they even knock on the door, put the biggest smile on our faces possible, and bring them in so we can all get to know each other a little better. We shake hands to introduce ourselves, and never let go of their hand until they give us their name. Then, we attempt to find out where they currently live, and ask if they need to move in a hurry. We study their attire, and glance at their car to assess financial ability. Once we finally leave the foyer, we are sure to give them the “grand tour”, so when we point to a toilet, they will know they are in the bathroom. All along, we probe for even more information on them, their family, and lifestyle. If this model fits your approach to an open house; congratulations, you’re a stalker!
Stalkers love to gather information, and keep current records. However, a good stalker will reveal just enough information themselves to keep their new victim under their thumb. The really adept ones will take control of the situation, so no one can get away without being on the hook for something. Perhaps the name of a friend or family member they could stalk as well. Oh, our timeshare counterparts love this one! But, is this an effective approach, or are we just wasting our energy on someone who we teach to resent us?
My decade-and-a-half experience in real estate, and hundreds of open houses within that time, have led me to some pointers to help create a more efficient open house experience which is a lot less energy draining than most. In the process, the sales professional will come across a lot less… creepy.
DO leave the front door open in the Spring and Summer months. After all it is an “open” house. This is more inviting, and suggests prospective buyers eventually get to leave.
DON’T be ready to ponce on them in a moments notice. In fact, let them find YOU. A sheepish “hello?” from you down the hall signals they are not going to be placed on the defensive.
DO introduce yourself as an industry professional. Hand them your business card, and let them know you are there to answer any questions they may have. If you are not the listing agent for that property, EXPLAIN to them you would work for the buyer, and could even show them several other properties.
DON’T lead them through the house. They know a bedroom when they encounter one. Once introductions are made, tell them you are available to them, and WALK AWAY. They will be perplexed, confused and befuddled that you don’t want to know their blood type. They will then seek you out for details.
DO ask broad, open-ended questions “What are YOU looking for in a home”, versus “What do you like about THIS home”? This will let them know you are on their side, and help create a dialogue.
DON’T hand them the open house flyer until they leave. You want them to ask you the questions about square footage, acreage, schools, etc. The intent here really is not to “control” the situation, simply to show the lookers you don’t bite, and are happy to help them however you can. This also sparks conversation, which could lead to a professional relationship once trust is established. At this point, give them ALL of the public information the MLS will allow.
Some additional ideas to solicit contact information;
– Ask them to fill out a very brief survey about the house. Include a heading for all their pertinent info.
– Offer a prize drawing to be conducted at your office once a month, or for the week if you pool with other Realtors. The information they give here tends to be more accurate since they want to be notified should they win.
– Actually schedule an appointment in your office, where you will take time to better understand their buying needs.
By allowing the prospect to take the lead, you assure them that you are NOT a stalker. They will also feel positive and empowered by the process. Along the way, they should feel better about you if not our industry as a whole. No, not every prospect will convert to a client, but you will have saved yourself a lot disappointment not wondering if you could have been more in control of the situation.
Having said all this, you do need a few tricks up your sleeve for safely sake. Your Broker should know where you are, and there should be a red flag code word, should you feel compelled to call a friend, or into the office. Unfortunately, Realtor safety concerns are paramount in today’s world, but that is another discussion. In the meantime, consult your Broker’s office policies concerning open house safety.