Strategic Thinking. How to Make Money From Open Houses Presented by Professor Greg Herder Greg Herder All Rights Reserved

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1 How to Make Money From Open Houses Presented by Professor Greg Herder Greg Herder All Rights Reserved Strategic Thinking Presented by Professor Greg Herder Greg Herder All Rights Reserved Make Money from Open Houses In real estate you get paid for the value you bring to the marketplace, not the number of hours you work. Make Money from Open Houses The secret is to learn how to bring more value to the marketplace. Make Money from Open Houses If you want to maximize your value, you have to work smarter, not harder.

2 Make Money from Open Houses Becoming more valuable starts with learning to think strategically, not tactically! Strategic Thinking Tactics are all the activities that you could be doing that are related to your real estate career. Strategic Thinking Strategy is a series of well thought out steps or plans designed to give you a competitive advantage in the accomplishment of a specific goal or objective. Strategic Thinking Strategic thinking starts by asking What is the big picture objective am I trying to accomplish. Strategic Thinking Then asking, How this specific tactic (activity), fit into my big picture objective?

3 Ask Why does the average agent decide to hold an Open House? And what do they hope will happen when they hold an Open House? Why Agents hold an Open House They have no leads coming in To get their broker off their back To get the seller off their back To get their spouse off their back So they feel like they are doing something, because they don t know what else to do. What Agents Hope will happen by holding an Open House A buyer will walk in and buy the house. A neighbor will stop in and want to list their house that evening. They will not have to do anything else to get rich selling real estate. I call this the Open House Lottery Game! Stop this Madness! A Strategic Approach to Holding an Open House

4 Strategic Thinking Can I make holding an Open House produce a good ROI on my time and money, and does it fit into my big picture objective for my real estate career? Strategic Objectives Build and Reinforce my SBA (Strategic Brand Advantage). Generate leads for future listings in my farm. Demonstrate to the seller that I am earning my commission, and set up referrals. Get feedback that convinces the seller to reduce their price. Generate buyer leads for the future. Meet people in my farm and build relationships. Strategic Open Houses When you develop an Open House plan keeping your strategic objectives in mind, every Open House you hold will be productive. Keeping your strategic objectives in mind think about the three keys to a successful Open House Open House Promotion Open House Experience Open House Follow-up Promoting Your Open House The starting point for all successful Open Houses!

5 Promoting Your Open House Start by making a list of every possible way you can think of to promote your open house! Promoting Your Open House Open House Invitations Facebook Posts Twitter Posts YouTube Video Phone Invitations Print Advertising Facebook Advertising Linked In Advertising Twitter Advertising YouTube Advertising Directional Signs Person Holding Signs Invitations Craigs List Online Open House Listing Neighborhood Club House Establish your Budget Ask what is the ROI that I can expect from each item, and how much will it contribute to the whole? Establish your Budget Ask are my expectations realistic for the budget I have, and the activity plan I have developed? Establish your Budget We have found that the more things you, do the more effective each individual thing that you do is.

6 Direct Mail Send out an oversized postcard, or what we call a PowerKard, to everyone in your farm. If the open house location is not in your farm send out 500 or more PowerKards to people in the area depending on your budget. Direct Mail Make a list of the strategic objectives your PowerKard needs to accomplish to help you accomplish your big picture objectives? Direct Mail Generate attendance for your Open House Build Name Recognition Reinforce SBA Build Social Media Followers Direct Mail If you use variable data printing, you will increase the response of your mailing by 20%. Direct Mail Send an invitation to every active buyer or seller prospect that you have talked to in the last two years but, who has not bought or listed yet.

7 Open House Promotion Post your Open House on your personal website as well as the the following sites HomeSeekers.com Your Local MLS Facebook.com Twitter.com YouTube.com Zillow.com Trilia.com Craigslist.com Facebook Create an event in Facebook for each of your open houses. You can have pictures and get people to RSVP. Open House Promotion Use voice broadcast to send out a voic invitation to everyone in your farm and all your active buyers. Open House Promotion Run an ad on Facebook, targeting the area you mailed into. This will only cost you $20 to $40 but combined with your direct mail will dramatically increase attendance at your open house.

8 Open House Promotion Create a landing page with a registration page for the open house that gives them something for registering and then coming to the open house. Open House Promotion Also consider running ads on Twitter, LinkedIn and other online sources if you can effectively target the same group of people. Open House Promotion Develop a signage plan for your Open House that makes it very easy to follow the signs from all major roads. Setting Up Your Open House Little details make a big difference

9 Open House Set-Up Arrive early, stage the home the home before you put out your open house signs. Turn on all lights, open all the drapes, put vanilla in the oven at 180 degrees. Set-up your display in the entrance. Turn on Music & TVs. Post on Facebook and Twitter. Setting Up Buy helium filled balloons. Put at least 15 of the balloons on the open house sign and around the front yard. Setting Up Set up a display of your Special Reports, House Flyers, Personal Brochures, Buyers Questionnaires etc. This will differentiate you from all the agents people see at open houses. It s very powerful! Setting-Up Now you have done everything you possibly can to ensure your open house will be productive, so make sure you are ready to capitalize on the opportunities you generate. The Open House Experience Always ask yourself What a prospect is thinking and feeling as they walk in!

10 Robin Milonakis is rewriting the playbook when it comes to Coastal and South Orange County real estate. Drawing from years of experience in the industry, including her background in the field of real estate finance, Robin and her team of hand-selected professionals are taking real estate service to a whole new level. Call her today!. Broker License # The Robin Milonakis Group Windermere Real Estate Dana Point Harbor Drive B220 Dana Point, CA Robin Milonakis is rewriting the playbook when it comes to Coastal and South Orange County real estate. Drawing from years of experience in the industry, including her background in the field of real estate finance, Robin and her team of hand-selected professionals are taking real estate service to a whole new level. Call her today!. Broker License # The Robin Milonakis Group Windermere Real Estate Dana Point Harbor Drive B220 Dana Point, CA The Open House Experience! Greeting & House Flyer Feedback & Drawing Forms Personal Brochure Buyer Questionnaire What Your Dress and Attitude You only get One Chance to make Your First Impression! Make it Count! Use the following scripts! You must practice the scripts, until they roll off your tongue naturally. Welcome, my name is Mary Agent. I am so glad you stopped by today. This home is listed for $329,000 here s a fact sheet about this home. Please feel free to walk through the home at your own pace. I would also appreciate it if each of you would be so kind, to fill out this Open House feedback form. It s totally anonymous, but will help me provide feedback to the homeowner. I am also doing a drawing for one of my $49 special reports, on buying or selling in today s marketplace, for everyone who fills out this form. Thanks again for coming and enjoy your tour. Robin Milonakis Knows What it Takes to Create a Winning Game Plan. 51 Valley Terrace Stunning 3 Bedrooms 3.5 baths has 2650 square feet of space. This model perfect home is in the exclusive guard gated community of the summit at Turtle Ridge, large built-in BBQ w/ outdoor kitchen in Large backyard with a view ideal for entertaining. Gourmet kitchen w/ stainless Viking appliances, subzero fridge. Granite counters, MUCH MORE!!! To view more pictures of this property go to RobinMilonakis.com or all Robin today and ask for her free special report, Robin Milonakis Knows What it Takes to Create a Winning Game Plan. Robin s Milonakis s Seller Feedback form for 51 Valley Terrace On a scale from 1 to 10, how would you rate the curb appeal as you drive up to this home? Low High On a scale from 1 to 10, how would you rate your first impression after entering the front door? Low High On a scale from 1 to 10, how would you rate the attractiveness and functionality of the Kitchen? Low High On a scale from 1 to 10, how would you rate the Master Bedroom & Bath and Closet? Low High On a scale from 1 to 10, how would you rate the Guest Bedrooms & Bathrooms? Low High On a scale from 1 to 10, how would you rate the backyard? Low High On a scale from 1 to 10, how close does this home come to meeting the criteria you are looking for in a home? Low High At the price of $329,000, do you feel that this home is A Bargain A Solid Value Priced Right At what price would you be highly-likely to make an offer on this home today? $ Comments:

11 Robin Milonakis is rewriting the playbook when it comes to Coastal and South Orange County real estate. Drawing from years of experience in the industry, including her background in the field of real estate finance, Robin and her team of hand-selected professionals are taking real estate service to a whole new level. Call her today!. Broker License # The Robin Milonakis Group Windermere Real Estate Dana Point Harbor Drive B220 Dana Point, CA Robin Milonakis Knows What it Takes (and avoid the mistakes that stop most Buyers from Capitalizing on the Opportunities Available Today) (and How to Avoid Them) to Create a Winning Game Plan. Free Drawing: For Your Choice Special Reports: a $49.00 Value! Mark which one of Robins Reports you would prefer to receive if you win! Home Buyers How to Avoid Paying to Much The Top 20 Mortgage Mistakes that Home Buyers Make 29 Essential Tips that Get Homes Sold Fast! (and for the Best Price) 7 Insider Secrets on Showcasing Your Home for a Successful 20 Questions You Absolutely Must Ask Your Next Agent, Before You Sign on the Dotted Line! Name(s): Phone Number: Address: City: State: Zip: I would also like to receive Robins monthly , estate trends in the Local Real Estate Market. Yes No Address Address Open House Materials Create a stack of the 3 forms to hold in your hands, so that you can give them out one at a time without fumbling around with different stacks. You will come across much more professional. Be Prepared for Kids Engaging the kids is the best way to engage the parents and start differentiating yourself from all the other agents they have meet at other open houses. For Kids 12 and under Walk up to each child and say, Hi, my name is Mary, what is your name? When they answer ask Name what would you like in a new House? Engage and have fun with them. For Kids 12 and under Then turn to the parents a say, If you go to the top of the stairs the 2nd room on the right has Toy Story 3 playing on the TV if feel free to let your kids watch TV while you walk through the home.

12 For Kids 13 and over Say, Hi, my name is Mary, what is your name? May I ask who your favorite band or musician is? Engage and have fun with them, if they do or do not respond say. The reason I ask For Kids 13 and over is that out in the back yard I have my portable computer playing Rock of Ages, it s a great movie about the Rolling Stones, even if you are not a Stones fan it is interesting and has some great music. Feel free to check it out, or feel free to go through the house with your parents, the choice is yours. After they have toured the home ask Do you have any questions that I can answer? Can I get your open house feedback form? I really appreciate you filling it out. Here is a copy of my personal brochure, it will help you decide if am an agent you would feel comfortable working with. Also I hope you will enter the drawing for one of my special reports. They normally cost $99 each, and a lot of people tell me that the information in the reports helped them make better decisions in buying or selling their home. I have them on this table along with flyers of other homes on the market. Please rate the importance of each feature that you would li

13 Robin Milonakis is rewriting the playbook when it comes to Coastal and South Orange County real estate. Drawing from years of experience in the industry, including her background in the field of real estate finance, Robin and her team of hand-selected professionals are taking real estate service to a whole new level. Call her today!. Broker License # The Robin Milonakis Group Windermere Real Estate Dana Point Harbor Drive B220 Dana Point, CA Robin Milonakis Knows What it Takes to Create a Winning Game Plan. Real Estate Trends Letter I have been getting a lot of questions recently about what I think will happen in the real estate market during the next 6 months. EcoTrends, an economic forecasting think tank, reports that on a national basis the U.S. real estate market is moving into a long term recovery. I believe we will experience steady market growth for the next 3 to 5 years. The US economy is projected to grow at 3.8% in 2014 which is up from 2.8% in This will keep a steady upward pressure on home prices which I expect to see go up by 5%to 8% a year for the next 3 years. What does this mean to you? Today I am telling active sellers to get their home sold in 90 days, it must be priced so that it is a good value and it will sell. If you are looking to buy a home, the longer you wait the more you will pay for the same home. If you are looking to buy a long-term investment home that you plan to hold for 5 years or more, now is the time to buy. You have lots of choices, can get good locations, solid for not buying everything you possibly could in the current recommend it. Rental prices are going up at a fairly fast clip, and you will end up being worse off if you try to get back into the market in a year or two. Before they leave make sure you connect with them emotionally! I really want to thank you for stopping by today. I enjoyed talking with you. Whenever you have a real estate need, I have a feeling that we would work very together. Thanks again for coming and enjoy the rest of your day. The Open House Experience Now you have Created an Experience and connection that will make you stand out from every other agent they have met or will meet! Open House Follow-Up The final step in turning Open House s into Gold! Open House Follow-Up Unless you have a systematic plan to follow- up on the prospects from your open house, most of the value you created will be lost.

14 Robin Milonakis is rewriting the playbook when it comes to Coastal and South Orange County real estate. Drawing from years of experience in the industry, including her background in the field of real estate finance, Robin and her team of hand-selected professionals are taking real estate service to a whole new level. Call her today!. Broker License # The Robin Milonakis Group Windermere Real Estate Dana Point Harbor Drive B220 Dana Point, CA Follow-up Handwrite a follow-up card to everyone who entered your drawing. It must be mailed that evening. Follow-up Call the seller and give them an update on the open house, how many people came through, etc. Set-up a time to meet with them to go over feedback forms. Follow-up Call every person that entered your Special Report drawing and tell them they won the drawing! Robin Milonakis Knows What it Takes to Create a Winning Game Plan. Dear John & Mary, entered at my Open House at 51 Valley Terrace and needs, please feel free to call me anytime and I will do my best to help clarify what I mean. have enclosed a copy of my brochure. an open line of communication and that they feel comfortable with both professionally and personally. I am here to help you with all your real estate needs. Sincerely, Robin Milonakis

15 Dear John & Mary, entered at my Open House at 51 Valley Terrace needs, please feel free to call me anytime and I will do my best to help clarify what I mean. enclosed a copy of my brochure. up 20 line of communication and that they feel comfortable with both professionally and personally. I am here to help you with all your real estate needs. Sincerely, I am am here here to to help help you you with with all all your your real real estate estate needs. needs. Sincerely, Sincerely, Robin Robin Milonakis Milonakis Follow-up It is very important that you send them something once a week, for four weeks, after the open house. Follow-up Each piece must build your name recognition and reinforce your core brand identity at a glance.

16 Follow-up Then send one and two PowerKards every month for six months. Follow-up At the end of six month call them and decide if you want to drop them into your standard ongoing farming plan. The Payoff When you have taken the time and made the effort to work through every part of an Open House strategically, every Open House you hold will maximize the ROI on your time and money. With Your Strategic Open House you have accomplished Building brand identity in your farm. Building a list of buyer prospects. Increasing consumer confidence in the real estate market and in you as an agent. Justifying a Price Reduction request. Demonstrating to the seller that you are earning every dollar of your commission. Questions & Answers Please type your Questions into the control box.

17 Other Webinars By Greg Herder 1. Building Buyer Loyalty 2. The Past Client Follow System 3. The Listing Presentation that Works Every Time: 4. How to Become a YouTube Marketing Master 5. Unlocking the Secrets to Online Advertising 6. The Social Media System for Lead Generation 7. How to Build Your Brand through Public Relations 8. Make Money from Open Houses For more information on our Speaking/Training Marketing Services Brand Building Coaching Call (657) or marketing@hobbsherder.com Thank You for investing your time with me today! me your feedback or post on Facebook Greg.Herder@HobbsHerder.com Facebook.com/GregHerder