![]() For open houses held on Sunday, for example, Suarez and team start the process the prior Monday by selecting the properties. It’s information an agent can email on the spot, and in the process, they add another name to their database. “We’ll bring the economic report up in conversation with visitors so we have something to offer them,” Suarez says. Then, Suarez and his team build a digital folder for each property, which includes information on the active, pending, and sold properties in the area, a relevant economic report that agents can cite during the open house, and a lead sheet. We have targets on specific neighborhoods based on parts of town, traffic patterns in and out of neighborhoods to maximize number of drive-bys and guests, average price point for the neighborhood, and neighborhoods with high owner occupieds, as well as a solid turnover ratio.” “A lot of agents will just hop in to an open house,” Suarez says, “But we won’t do it if it doesn’t fit our targets. Preparation starts with strategically picking properties with good traffic patterns, or easy access in and out of a neighborhood. ![]() Figuring he’ll pick up two contacts at each open house, to get to 168, he needs to hold 84 open houses a year.įrom there, Suarez focuses on the five remaining Ps: preparation, promotion, process, performance, and post-open. That means he needs 168 people in his database. He knows that for every 12 people in his database, he’ll do two deals. For instance, for the average sales price of $300,000, he’d need to sell 28 homes to get a $250,000 GCI. Suarez does the math to figure out how many opens his team needs to hold each year to generate their desired GCI. “Ultimately as a proven strategy to build your database with people you have met.” “An open house must be executed properly to provide exceptional service to the seller client, to connect with kinesthetic buyers and get more eyeballs on the home,” Suarez says. So, how do you host the perfect open house? It starts with the first “P” – psyche, or the right mindset, Suarez says. Last year, 23 percent of his business, or $18.5 million in volume year-over-year, came from leads generated at opens. Suarez has honed a process – the Six Ps – that helps agents enhance open houses. Instead, they strategically choose properties, then spend a week preparing. ![]() Suarez has developed a tried-and-true method for open houses, the “Six Ps,” that has boosted his bottom line.Ĭhris Suarez and his team at Xperience Real Estate in Portland don’t hold spur-of-the-moment open houses. How do you host the perfect open house? For mega agent Chris Suarez and his team at Xperience Real Estate in Portland, Oregon, it starts with the right mindset. ![]()
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