Success with Open Houses (part 6) – Add Value


I am sure you have heard the term “value-added” a multitude of times with regard to sales.  The more value you add to the process, the more successful you will be in sales.  Open houses are no different in this regard.  The offer of value gets more people to the house and tends to help them become long-term customers.

Not that offering $10,000 off the selling price will not bring people in the door, but adding value really is a matter of giving something extra instead of discounting.  Besides, your extra traffic is more likely to be presented by those looking to “steal” the home.  Adding value produces a smaller crowd, but more serious buyers.

The question is, what value?  It must be more than a gimmick (free lottery tickets) and something different than what everyone else is offering.  Here are just a few ideas:

 

  • Offer a free home warranty for the home.  A warranty represents peace of mind and only costs a couple hundred dollars.  If they do not buy the house, you have lost nothing.
  • Offer a free pre-approval for a mortgage loan.  Perhaps you can have a lender attend the open.  It should cost nothing to get your customer pre-approved.  Most lenders only charge an application fee to ensure the customer is serious about buying.  Find a lender that is willing to work with you.
  • Offer a free report.  “10 Mistakes Purchases Need to Avoid When Financing Their First Home”, “Questions to ask Your Lender”, “How to Choose the Right Realtor”, or which ever report you currently have listed on your website.
  • Offer ten books on finance for the first 10 visitors.  “Your Money and Your Life”, “The Millionaire Next Door”, “Courage to be Rich”, or “Couples and Money”.  All are listed in the top 10 books about money and you do not have to purchase hardbacks.
  • Offer a free financial analysis with a financial planner.  There are many financial planners that would like to work with Realtors.  If you do not know of one, look them up in AR.  Don’t give up on someone because they tell you they have credit problems or have not saved a down payment.  Direct them to someone who can help.  In a few months or so, the customer will be back to you and ready to move forward.

 

With these and other “value” offerings, you may attract traffic that is not so much interested in that particular home but is interested in purchasing in general.  Isn’t one of the goals to generate prospects for your overall business?

The ultimate goal is to make sure you are putting something in everyone’s hands.  I have an open house flyer that demonstrates what payment and cash is needed to purchase a particular house.  You can make this flyer even more valuable by offering a free report or pre-approval via the flyer.  This is called a response mechanism and assures a greater response AFTER the open.  After all, follow-up is key.

Did you miss the last few posts about Success with Open Houses?  Click the link.

Have you found anything I have written to be useful?  Do you do many of these things already or was I able to give you some other suggestions?

I think I will add one more post to this topic to try and sum it all up, provide a few last thoughts, and really try to get some good feedback from each of you.  If you have followed along from the beginning, I appreciate you and hope you will let me know what you thought after my last entry.

Make every day great!   John Cannata – Reliant Mortgage Ltd

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One Response

  1. […] unknown wrote an interesting post today onSuccess with Open Houses (part 6) – Add Value « Texas Mortgage InSiteHere’s a quick excerptOffer a free pre-approval for a mortgage loan. Perhaps you can have a lender attend the open. It should cost nothing to get your customer pre-approved. Most lenders only charge an application fee to ensure the customer is serious about … […]

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