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The secret of the top producer is the validation: "I do the most productive thing possible at every given moment". Say to yourself the Monday before the open house, "How can I generate business while I’m holding that house open this coming weekend?" Then you can prepare. You can have the neighbors’ phone numbers and names from the crisscross, your list of expireds, your copy of the local papers with fizzbo ads. Call your farm file. Location, the Number One Ingredient of Successful Open Houses Hard-to-find houses are sold by escorting buyers to them, not by holding zero-traffic open houses there. Avoid inconveniencing your sellers without purpose; avoid wasting your time: Hold only those houses open that can easily be found. Not more than 4 arrows should be required to guide house hunters to your open house by the most direct route from a main thoroughfare. Choose a Well-Priced Listing It’s counterproductive to hold open house on clearly overpriced properties. Stoppers get the wrong idea about your area. Neighbors come in and think: "If the professionals expect to sell this place for that much-wow! My creampuff’s worth at least $10,000 more than this dump. Maybe we should…" You’re in a bad position. You can’t knock the price because it’s your listing (not that you ever should) and you’re talking to a neighbor who may report what you say to your seller. The price is too high, you know that all too well, but you’re forced into defending it. This can lead to an expanding set of priced-out-of-the market, and therefore unsalable, listings that’ll cost you money and maim your enthusiasm. Unless your ambition is to work hard and earn little, give properties with at-the market prices first call on your open house time. What If My choice Is Between Price and Location? This weekend you can hold Greedy Street or Hidden Hollow open. Greedy Street, on a well-traveled and easily-flagged corner, is joltingly overpriced. Hidden Hollow, so hard to find people swear it isn’t there, is priced snap-up. Which should you hold open? Do the bounce-off. Team with another agent for a Greedy to Hidden play. Take the walk-ins alternately. Keep your cars nearby, all warmed up for a fast run to Hidden Hollow with you new prospects. How do you avoid knocking Greedy’s price? A prospect: "How much are they asking?" You tell him. He staggers, then gasps, "Are they serious? I mean, how much bargaining pad is packed into that price?" You reply: "I’d be happy to assist you in finding that out. The only way that can be done is by making an offer." Prospect: "No, I was just asking. I had no idea property was that high here." You reply: "A premium location like this one isn’t what everyone is looking for, of course. We have another find home on Hidden Hollow listed for…" You name the price. "Unless you see that house, you won’t know the fine values available here in Greenpretty Valley. I can take you and Mrs. Bysmartz to view that lovely home in a jiffy. We can be back here in less than fifteen minutes. Would you like to see it now, or after…" Both agents should work Greedy Street together, rather than have one waiting it our at Hidden Hollow. There are four reasons for this:
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