Open House Math
1 Hold open houses every weekend as a rule until you have a minimum of 3, AAA buyers at all times. Once you put one in contract, replace it with another AAA buyer, so you are never without 3. Doing this ensures you will never, ever have a lean month.
2 When you work with at least 3, AAA buyers at all times, 2 will close per month, minimum.
3 2 deals / month x your average commission = $_______. Let’s say your average is $15,000/ sale. $30,000/month just from open houses = $360,000 per year. Even if your numbers are HALF of that, open house math makes a lot of sense.
4 If you’re already doing better than this in your business, ADD open houses as a viable ‘spoke’ and add the $60,000 to $120,000+++ to your existing business. Use the added income to pay off debt, buy a rental, pay for an assistant or upgrade your car!
Open House Prospecting Rules
1 You must use 10 Directional signs, minimum. Ask permission to place signs and connect with homeowners who allow you this courtesy.
2 Choose the RIGHT HOUSE to hold open. 1st-time buyer houses or first move-up houses in popular schools, great neighborhoods, and nice curb appeal. Avoid gated communities if possible.
3 Door knock 1 hour before the open house, using an open house flyer, which invites neighbors and friends for a ‘sneak preview’ 1 hour prior to a public open house.
4 Place FREE ads in Craig’s List, on your Facebook, Realtor.com, Zillow.com..everywhere!
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