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

2. Lead Generation 36:12:3 Slide 2 In this Power Session … 1)Introduction 2)Open Houses Work! 3)Before: Prepare and Promote 4)During: Build Trust and Qualify Leads 5)After: Follow Up! 6)Be The #1 Market Agent 7)Putting It All Together Page 1 Power Session 7

3. Lead Generation 36:12:3 Slide 3 Ground Rules 1)Arrive on time. 2)Form groups quickly. 3)Limit side conversations. 4)Turn off cell phones and pagers. 5)Be comfortable. 6)Respect time. 7)Respect each other. 8)Help each other. 9)Respect confidentiality. 10)Have fun! Page 3 Introduction Power Session 7

4. Lead Generation 36:12:3 Slide 4 Page 4 Introduction How You Will Learn Learning Methods 1)Manual Models/Systems Exercises/Discussion Stories 2)Classroom PowerPoint slides KWConnect videos Classmates/Instructor Power Session 7 (continued)

5. Lead Generation 36:12:3 Slide 5 Page 4 Introduction How You Will Learn Accountability Methods 1)Lead Generation Action Plan 2)Accountability Partner/Program Power Session 7 1. Set Goals 2. Do Key Activities 3. Measure Results 4. Evaluate Process 5. Make Adjustments Accountability Feedback Loop

6. Lead Generation 36:12:3 Slide 6 EXERCISE Where You Are Today 1)Lead Generation Activities 2)My aha’s from these activities 3)The most difficult part of these activities 4)What I will do differently in the next 24 hours Time: 10 minutes Page 5 Introduction Power Session 7

7. Lead Generation 36:12:3 Slide 7 Why You Are Here Open Houses Turn Haven't Mets into Mets Page 6 Introduction Power Session 7 Haven’t Mets Leads Mets Buyers Sellers

8. Lead Generation 36:12:3 Slide 8 Page 6 Introduction “Open houses are the easiest, simplest, fastest, and cheapest way to grow your business.” Ron Cathell Arlington, Virginia Power Session 7

9. Lead Generation 36:12:3 Slide 9 Why You Are Here Page 7 Introduction Power Session 7 You are here!

10. Lead Generation 36:12:3 Slide 10 Introduction What Will Make This a Great Training Experience Page 7 Power Session 7

11. Lead Generation 36:12:3 Slide 11 Open Houses Work! Answer You are there to do both. Page 9 Power Session 7 Question Are you at the open house to sell the house or pick up buyers and sellers?

12. Lead Generation 36:12:3 Slide 12 Page 10 Open Houses Work! What buyers and sellers think about open houses Power Session 7 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

13. Lead Generation 36:12:3 Slide 13 Open Houses Work! EXERCISE Best Open House Ever! 1)Recount to the group the best open house you ever attended (or held). 2)What made it special and memorable? 3)If you attended, how were you treated by the agent? 4)If you hosted, what were the results? How many leads were generated? Time: 10 minutes Page 11 Power Session 7

14. Lead Generation 36:12:3 Slide 14 Open Houses Work! Myth Open houses are only for new agents looking for buyers. Experienced agents continue to leverage open houses to generate both buyer and seller leads. Truth Page 12 Power Session 7

15. Lead Generation 36:12:3 Slide 15 Open Houses Work! Myth I don’t have any listings, so I can’t hold an open house. Use another agent’s listing. It’s a win-win for both of you. Truth Page 13 Power Session 7

16. Lead Generation 36:12:3 Slide 16 Open Houses Work! Myth Agents “sit” open houses. Great agents “work” open houses. Truth Page 13 Power Session 7

17. Lead Generation 36:12:3 Slide 17 Page 14 Open Houses Work! Sharon Ketko – “The Builder’s Wife” 5-6 homes open every Sunday Prospecting and marketing to the open house Results from open houses! Power Session 7

18. Lead Generation 36:12:3 Slide 18 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. Power Session 7 Page 15 Open Houses Work!

19. Lead Generation 36:12:3 Slide 19 Power Session 7 Page 16 Open Houses Work! Open House Model

20. Lead Generation 36:12:3 Slide 20 Page 17 Before: Prepare and Promote Preparing for an open house 1.Set open house goals. 2.Decide which house(s) to hold open. 3.Stage the house. 4.Prepare to build relationships. 5.Prepare to be the neighborhood and market expert. 6.Be safe! Power Session 7

21. Lead Generation 36:12:3 Slide 21 Before: Prepare and Promote Preparing for an open house 1.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 Power Session 7 Page 17

22. Lead Generation 36:12:3 Slide 22 Page 17-18 Before: Prepare and Promote 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? Power Session 7

23. Lead Generation 36:12:3 Slide 23 Page 18 Before: Prepare and Promote 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? Power Session 7

24. Lead Generation 36:12:3 Slide 24 Page 20 Before: Prepare and Promote Preparing for an open house 4.Prepare to build relationships. What questions will you ask your guests to build rapport? Power Session 7

25. Lead Generation 36:12:3 Slide 25 Page 20 Before: Prepare and Promote 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? Power Session 7

26. Lead Generation 36:12:3 Slide 26 Page 22 Before: Prepare and Promote Preparing for an open house 6.Be safe—Five tips for safety 1)Check rooms for “escape” routes. 2)Check backyard for high fences. 3)Check cell phone’s strength. 4)Notify friend to call at set time. 5)Walk behind guests during tour. Power Session 7

27. Lead Generation 36:12:3 Slide 27 Before: Prepare and Promote Preparing for an open house What do buyers want to know? What do sellers want to know? Power Session 7 Page 22

28. Lead Generation 36:12:3 Slide 28 Page 23 Before: Prepare and Promote Prospecting around open houses Should I prospect, or should I market? Power Session 7

29. Lead Generation 36:12:3 Slide 29 Before: Prepare and Promote Prospecting Proactively seeking leads Page 23 Power Session 7

30. Lead Generation 36:12:3 Slide 30 Page 24 Before: Prepare and Promote 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? Power Session 7

31. Lead Generation 36:12:3 Slide 31 Page 25 Before: Prepare and Promote Debbie Zois Mega Agent Las Vegas, Nevada What is your experience with knocking on doors? Power Session 7

32. Lead Generation 36:12:3 Slide 32 Before: Prepare and Promote Marketing Passively attracting leads Page 27 Power Session 7

33. Lead Generation 36:12:3 Slide 33 Page 28 Before: Prepare and Promote The Power of Signage Power Session 7 Your Listing Competitor has dominant market share

34. Lead Generation 36:12:3 Slide 34 Page 29 Before: Prepare and Promote The Power of Signage Power Session 7 Your Listing Now who has dominant mindshare?

35. Lead Generation 36:12:3 Slide 35 Before: Prepare and Promote 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! Power Session 7 Page 30

36. Lead Generation 36:12:3 Slide 36 Before: Prepare and Promote Signage Placement Open Sun. 2:00-4:00 Page 31 Power Session 7

37. Lead Generation 36:12:3 Slide 37 Before: Prepare and Promote 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 Power Session 7 Page 31

38. Lead Generation 36:12:3 Slide 38 Page 32 Before: Prepare and Promote Sign Design How would you improve these signs to make them more effective? Power Session 7

39. Lead Generation 36:12:3 Slide 39 Page 33-35 Before: Prepare and Promote 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 Power Session 7

40. Lead Generation 36:12:3 Slide 40 Page 36 Before: Prepare and Promote Bob O’Bryant Top producer Orlando, Florida “ 10 Minute open houses” Goal: to get listings Marketing opportunity Power Session 7

41. Lead Generation 36:12:3 Slide 41 Page 37-38 Before: Prepare and Promote Open House Checklists Review open house checklists on pages 37-38. Power Session 7

42. Lead Generation 36:12:3 Slide 42 EXERCISE Group Discussion 1)What actions can an agent take to build trust with buyers and sellers? 2)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

43. Lead Generation 36:12:3 Slide 43 Page 40 During: Build Trust and Qualify Leads The Trust Mindset – Consistency is Key 1.Have you prepared and promoted your open house with consistent high quality? 2.Have you internalized your scripts? 3.Have you written goals and an action plan for the open house? 4.Have you considered what your guests will be looking for? Power Session 7

44. Lead Generation 36:12:3 Slide 44 During: Build Trust and Qualify Leads 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. Power Session 7 Page 41

45. Lead Generation 36:12:3 Slide 45 During: Build Trust and Qualify Leads 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! Power Session 7 Page 42

46. Lead Generation 36:12:3 Slide 46 During: Build Trust and Qualify Leads 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. Power Session 7 Page 43

47. Lead Generation 36:12:3 Slide 47 During: Build Trust and Qualify Leads Ask for BusinessAsk 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?” Power Session 7 Page 44

48. Lead Generation 36:12:3 Slide 48 During: Build Trust and Qualify Leads 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! Power Session 7 Page 44-45

49. Lead Generation 36:12:3 Slide 49 Page 46 During: Build Trust and Qualify Leads Nikki Ubaldini Palm Harbor, Florida Scripts for conversations Why do you want to be in control of your conversations? Power Session 7

50. Lead Generation 36:12:3 Slide 50 During: Build Trust and Qualify Leads EXERCISE Role Model Demonstration 1)Watch as your instructor demonstrates some of the key open house scripts in this section. Time: 5 minutes Page 47 Power Session 7

51. Lead Generation 36:12:3 Slide 51 During: Build Trust and Qualify Leads EXERCISE Script Role-Play 1)Basic Open House Scripts (See pages 48-53) 2)Qualifying Scripts Time: 10 minutes Page 47 Power Session 7

52. Lead Generation 36:12:3 Slide 52 Page 55-56 After: Follow Up! 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 Power Session 7

53. Lead Generation 36:12:3 Slide 53 After: Follow Up! 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 Power Session 7 Page 56

54. Lead Generation 36:12:3 Slide 54 Page 57 Be The #1 Market Agent 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? Power Session 7

55. Lead Generation 36:12:3 Slide 55 Page 58 “The tragedy in life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.” Benjamin Mays Power Session 7 Be The #1 Market Agent

56. Lead Generation 36:12:3 Slide 56 Page 58 Be The #1 Market Agent What is your goal toward becoming The #1 Market Agent? Power Session 7

57. Lead Generation 36:12:3 Slide 57 1.Power Session Aha’s 2.Your Lead Generation Action Plan 3.Open House Action Plan 4.Lead Generation Action Planning Worksheet Putting It All Together Page 59-61 Power Session 7

58. Lead Generation 36:12:3 Slide 58 Putting It All Together Your Lead Generation Action Plan 1.What are you currently doing with open houses? 2.What is your open house goal, by what date? 3.What activities will you do to ‘close the gap?’ Power Session 7 Page 59-61

59. Lead Generation 36:12:3 Slide 59 Putting It All Together Power Session 7 Page 62-64 The 3-Hour Habit 1)Time block 3 hours every workday before noon. 2)No skipping. If you must erase, then you must replace. 3)Allow no interruptions (unless they truly are emergencies).

60. Lead Generation 36:12:3 Slide 60 Thank You for Being Here! Don’t forget your evaluations!