The Most Obvious (and Underrated) Method for Generating Quality Leads

Transcript:

Sandy asks: "What is the average amount of nurture, appointments, or closings can you expect to get back from open houses?" The lead ratio from open houses is very strong. I don’t want to throw out a specific number, because I don’t have the data on my fingertips and it’s so different from market to market, area to area. 

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If you’re doing open houses with great signage, and you’re doing open houses that are in really good locations and at price points that attract a large number of buyers, I’ve seen open houses in North Carolina where we can get as many as 15 people through the home on a beautiful Saturday or Sunday afternoon. 

These leads are obviously a higher quality lead than a pure Internet lead. From a conversion standpoint, it’s not like it’s only 2-5%; your conversion rate on this type of lead can be double or triple that! I know from my background in new construction that open house conversion rates were around 10%, sometimes even as high as 15% with a good agent.

I want to stress how important the sales process is in open houses. Not winging it is important to get these high conversion rates, as well as having the structure to go through your process. When you do that, you will get maximum results, especially in the new construction world.

Thomas Elrod said that, on a recent Saturday, he had 150 people come through a single open house. He had 66 sign-ins, 10 of which were solid leads. This is a perfect example of going deep, not wide, and how creating a culture of intentionality around execution within open houses can really pay off. The tendency for most people is to not go deep, to not get a lot of signage, and to not do a bunch of marketing around an open house. As Thomas’s success shows, it’s often worth it to go the extra mile and have process in place in order to get quality leads from open houses. 

If you combine door-knocking with open houses, you combine two high-dollar producing activities. So many of us are short on inventory today, so there is no reason not to get out there and make things happen!