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About This Episode
You’ve probably heard that open houses are a waste of time. They’re old-fashioned and out of style. But our guest this week would say what’s REALLY old-fashioned is doing open houses that don’t work. This week on The Walkthrough™, Jordan Davis shares the system that has her team fighting over which open houses they get each week. It’s a system they used to close almost 50 deals last year — about 20% of their 230 total transactions.
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Links and Show Notes
- Jordan Davis Team website
- HomeLight profile: Jordan Davis Team
- Jordan’s Facebook group: Real Estate + Real Life
- Connect with Jordan: Instagram / Facebook
- 2021 NAR Profile of Buyers and Sellers (statistics mentioned in this episode)
- Join our Facebook mastermind for The Walkthrough™ listeners
- HomeLight’s Agent Resource Center
- Follow and listen to The Walkthrough™: Apple Podcasts/iTunes | Spotify | YouTube
(SPEAKER: Matt McGee, Host)
How did your last open house go? Was it busy? Did you get any solid leads? Did you find a buyer for the home?
Hi, I’m Matt McGee — host of The Walkthrough™. I was reading a thread not long ago in one of the Facebook real estate groups – agents were saying that there’s been surprisingly-high open house traffic over the last month or two. That’s definitely good news.
Back in June, we spoke with Jordan Davis about open houses. Jordan’s team runs an open house system that accounted for almost 50 transactions last year. Think about that – almost one closing per week just from open houses.
Today, we’re bringing you an encore presentation of Jordan’s Walkthrough™ appearance. Because if you’re seeing more open house traffic these days, too, well now might be a good time to take them to the next level.
So let’s get on with the show. Here’s a 2-second break and then an encore presentation of high-level open houses with Jordan Davis.
Matt: Open houses? Some agents would tell you those haven’t worked since the days of dial-up internet
[sound effect: modem]
and rotary phones.
[sound effect: rotary phone]
Matt: I’ve even seen a real estate coach or two running ads in my Facebook feed saying, “open houses are a relic of a bygone era”. My guest today begs to differ. Jordan Davis runs a team that did 230 deals last year. Almost 50 of those came from open houses.
Jordan: We’ve been all-in on it since for about five years, and we have a whole system around it. There’s a draft on Tuesdays. Our agents want them, they fight over them. We have a follow-up procedure. Our agents are only allowed to keep one lead. Our inside sales agent follows up with the rest. We have a virtual assistant that inputs the leads. Yeah, there’s a whole system around it.
Matt: Jordan’s gonna share that system with you today. It’s all about high-level open houses that actually work. Because there’s nothing old-fashioned about selling more homes, right? Right. This is The Walkthrough™.
Matt: Hey, there. Happy summer. How are you? My name’s Matt McGee. I’m the managing editor of HomeLight’s Agent Resource Center. Welcome to The Walkthrough™.
This is a weekly podcast. We have new episodes come out every Monday. This is the show where you’ll learn what’s working right now from the best real estate agents and industry experts in the country. At HomeLight, we believe in real estate agents. We’re here to explore how great agents grow their business, stand out from the crowd, and become irreplaceable.
Only 4% of home buyers found the home they bought at an open house. That’s the latest data from the NAR. Now, you could hear that stat and just dismiss open houses as useless. But in that same NAR report, open houses were the third most popular source of information in the home-buying process, right behind real estate agents and mobile devices.
Let me give you another stat: 20%. How would you like to sell 20% more homes than you’re selling now? That’s what happened to Jordan Davis when she and her team went all-in on open houses five years ago. Jordan got her license in 2013 and then formed The Davis Team in 2016. They’re based in Dallas, Fort Worth. Jordan has 12 agents and 6 admins on the team right now.
Now, as I said at the top of the show, about 20% of their 230 transactions last year came from open houses. You might be wondering, “All right, Matt, how many open houses are we talking about here?” Well, they, typically, do about 12 open houses every weekend, and they average five new leads from each one. So, that’s 60 leads a week from open houses. They have a system that’s so effective.
You just heard Jordan a moment ago. Her agents fight over open houses. It’s not, “Oh, we’ll do an open house when we feel like it.” No, they have a system that’s repeatable, measurable, and scalable, and they run it every week. Hey, team leader, how would you like to be so good at open houses that your agents fight over them? Hey, solo agent, don’t worry. There’s a lot here that you can borrow too.
On today’s show, Jordan is gonna walk us through her open house system from beginning to end. She’s gonna talk about how they market open houses, even down to details like sign placement. She’ll talk about how they follow up with leads–super, super important. And you’ll hear about the importance of tracking everything. Jordan’s also gonna answer a couple of questions from our Facebook listener group.
So, let’s dive in. As the conversation begins, Jordan is taking me back to 2017. The team was young. They had new agents and staff all looking for paychecks, and they didn’t have a lot of money to spend on buying and generating leads.
Jordan: We needed business. We, financially, were strapped, or we had brought on these agents and made commitments about getting them to a certain level of production. And we just needed to increase our activity, like, tenfold. And so we decided that we were going to tackle open houses and we were going to–not only were they free, but we could also measure who came in.
We could create standard operating procedures, which we did as far as what was presented, what material was there, when we had them, when we hosted them, and then how many people came through. And so, when we started putting the analytics together, we found that about an average of five visitors came to every open house.
Matt: Do you wanna keep expanding on, sort of, the numbers of what you’ve been able to generate in terms of traffic and leads from open houses?
Jordan: So, we found that for every two open houses, we were able to secure one appointment. So, every 10 connects that came to an open house would meet with us to talk about buying or selling a home. And that was, I mean, hundreds of open houses that we studied data and analytics because our team, at the time, was doing anywhere from six to 10 a week, a weekend. And we’re now up to, like, 12 a weekend.
However, we looked at dozens or hundreds of open houses and saw that, on average, we could generate five unique visitors. So, for every two open houses, we could get one appointment from that open house. Now, some of our agents were better at converting than others. I have an agent who, literally, every open house, if somebody walks in that door, she leaves with an appointment. She is tenacious.
I have other agents that it takes about four open houses for them to get to an appointment. But overall, we looked at an average, and we found that for every two open houses, when you use our scripts and you set up our signs the way that we directed, and you advertised our lenders who offered no-fee loans. So, no fees associated with the loan.
When you put out the right value proposition, we could predict that for every 2 open houses or 10 visitors, you should have one appointment. For every two appointments, you would end up with one closing. So, if you needed 12 closings from a year, from open houses alone, we know that you needed to hold 48 open houses in a year.
Matt: You said things were tough in 2017 when you started with this open house system. How quickly did you see results?
Jordan: Oh, it was almost instantaneous. In fact, it quickly became, for two of our agents, their favorite form of lead generation because when people walked in a house, they were ready to go. They were serious. And, you know, it used to be that people would get pre-approved, they would talk to their lender and then they would call an agent, and then they would go out and see houses.
Well, that game has completely changed. People wanna go see houses before they ever talk to a lender. So, we’re finding it to be the exact opposite that they’re going to open houses. They are meeting an agent there. The National Association of Realtors says that most people probably like 80% only interview one Realtor®. Well, if you’re having open houses and that’s the first place they go, guess what? You’re that one Realtor®.
Matt: There’s been this thing going around the industry for whatever, 4 or 5, 6, maybe even 10 years. I don’t know. But this idea that, you know, open houses are dead and, you know, they don’t work and all this sort of stuff. What I’m hearing from you, though, is that buyer behavior has changed, and open houses are, in fact, a great opportunity.
Jordan: Oh, they’re a phenomenal opportunity. And what we’re finding is that open houses work when you work them. And when you work them systematically and consistently. I would agree open houses don’t work if you’re gonna do them once in a while. Don’t even worry about it. In fact, if you’re gonna put them on a sticky note, all your leads and maybe follow up with them and maybe don’t, don’t even waste your time.
Matt: Jordan and her team are so committed to open houses that it’s a big part of their listing presentation. She tells the homeowners that one of the things that sets them apart is how they do open houses. As you know, a lot of homeowners don’t wanna do an open house. So, if they object because open houses are inconvenient, Jordan tells them it’s more convenient to open the home for a few hours on the weekend, rather than having buyers come through at random times all week long.
She tells them about one open house they had where a buyer from California walked in and made a cash offer on the spot of $75,000 over asking. That buyer’s agent was on vacation at the time. It was the open house that made it possible for the people from California to tour the home. So, the sales pitch for doing open houses starts at the listing appointment. And then, once the listing paperwork is signed, game on.
Jordan’s team puts their open house system into play every Tuesday. And they begin with a draft, just like teams in pro sports draft players, the agents on Jordan’s team draft which open houses they want.
Jordan: Between our power up when we kick off the day and our agents going to lead generation, then at 11:00 we have our team huddle. So, in those two hours between that, our agents are drafting their open houses. So, my director of operations is going to put up what homes are gonna be coming on the market this weekend. And the agents, based on their production, get to draft.
So, they have an order that they get to draft in and they’re signing up for what open house they prefer, or if they’re taking the weekend off, whatever the case may be. I want my highest converters at the best open houses. And so that’s how I chose, “Hey, whatever your production is, that’s what you’re gonna draft based off of.” And so, we end up having Saturday, Sunday, Friday from 3:00 to 5:00. Especially as school’s getting out. Right?
We’ll have open houses all the time and we’ll even do them Thursday evening. We don’t care. And so our agents will draft their open houses, and that’s where it starts. So, you know, Matt, we never put a listing in MLS without first putting our open houses in, because what happens is that it gets picked up and syndicated, and we don’t want to syndicate the listing without the open house.
So, my goal is that, you know, I don’t want them to see my listing and see it on an external sight, and then they go, “Ooh, I wanna see that.” And that leads to that supplier selling my potential buyer to somebody else. I want them to see, “Hey, there’s open houses on this home. I can just go talk to the agent who knows about this home right there.” And so, we put the open houses in MLS before we ever go live.
Matt: What are some of the other ways that you are marketing your open houses and trying to get people in the front door?
Jordan: So, one of the things we do as the inside sales agent will call everybody in the neighborhood and invite them to the open house. And they do that in a voicemail drop. So, it just–they make one call. She records the voicemail, plugs it in and does the drop. And then, that way, all the neighbors in the neighborhood get invited to the open house to attend and just see, kind of, a previous sneak peek. “We’d love to see you there.”
And then once you get there, Ben Kinney, who is my business partner with PLACE, he says, “People who come to my own house are here for one reason, you’re either a nosy neighbor thinking about selling, or you’re a buyer looking in this market, or you’re both.” And so, you know, we know we’ve called the neighbors and we’ve invited them in.
Matt: What you just said, that’s your script for when somebody walks in the door?
Jordan: Yeah. It breaks the ice because otherwise you’re gonna go, “Hi, are you in the market to buy a home?” And they’re gonna do what you do when you go shopping for clothes. “I’m just looking.” Like, we all become liars when we go to open houses and when we go to Dillards. So, yeah, it’s just, “Hey, welcome to our open house. I find that people that come in are generally one of two categories. One, they’re a nosy neighbor thinking about selling. They wanna know how much their home [is] worth or two, they’re a buyer looking to buy, or maybe you might be both. Which are you?”
Matt: You also mentioned earlier that you are very specific about signs. Tell me more about that.
Jordan: So, our agents are required to have a minimum of 12 signs. We ordered signs that are two and a half feet by three feet. They’re bright red. We have four of those, and those are going to be at an entrance. There was a time when we would go two entrances and try to direct traffic, but your signs don’t make a big impact.
And so, what we opted to do and what we train our agents to do is go to one major entry point to the neighborhood. Typically, neighborhoods have two or three. Pick one. Pick one that goes to a busy street. Something like that. Take your big Davis Team signs, the bright red two and a half foot by three-foot signs that say “Open House “with arrows, and flock them. So, go into an intersection and place one, then two, then three, and place them about 20 feet apart.
So, start early and flock them out because what happens is you see it and you go, “What’s that sign? Oh, oh, there’s another one, an open house. Oh, it’s right there. We should turn.” So, you wanna go 1, 2, 3 so that they see it. Right? Like, it stands out. And so that’s where we decided to just flock the entrance and it was something that would get their attention. And so that’s what we do.
And then we take smaller signs that are probably two feet by one foot. And they’ll direct traffic once you’re in the neighborhood. Once you’re in the neighborhood, we have your attention. You’ll follow our signs to get to the open house, so we don’t waste the big signs on that. We spend the big signs on getting your attention, pulling you in from the street. And, you know, just getting you there.
Matt: You mentioned earlier that you want your most successful agents at, you know, the primary open houses. How do you staff them? Is it just one agent per house? Are there multiple agents per open house?
Jordan: Lately the market with the increase in interest rates has slowed down a little bit. However, prior to that, our open houses were getting like 20 guests. I actually don’t prefer that because you can’t possibly have conversations, quality conversations with 20 people. I would rather, and I’ve had times where I’ve held an open house and one person came through, I had one appointment from it, and we took one listing because of it.
And so, I don’t care how many come through. I want you to make one appointment. That is your goal at every open house. Now we know you’ll have about a 50% success rate, but rather than trying to capture everybody, get your one that’s a great, quality appointment or nurture that [one] you build a relationship with. Maybe you were both nurses, maybe you were both teachers. Maybe you have the same basketball jersey or something. Make a quality connection.
So, if we’re predicting a lot more visitors, then we will actually have a newer agent who will shadow the more experienced agent. And they will double up together because, quite frankly, you know, the more experienced agent is looking for listings, because that’s a great leverage source. And they’re looking for, like, a buyer that’s ready to hit the ground running.
And so the rest they’re like, “Uh,” you know, you can have these other three that were interested, but need some time. Or, you know, something like that. And so they will team up and work together, and that makes sure there’s enough for everybody to go around. It’s great because the head agent, like the more experienced agent, they’ll have the newer agent who’s already been trained, of course, so they know our process, set out the signs, and pick up the signs for them. And so, that’s nice for them because they get a break because after hundreds of open houses that gets really old.
Matt: Do you require guests to sign in at every open house?
Jordan: Absolutely. Yeah. You’re required to sign in, and if you don’t then, you know, we just welcome you to set up an appointment with an agent where you can see the home, but you know, the sellers ask that we have everybody sign in that’s coming into the home for their privacy. And, you know, even with COVID being big, if we were to be exposed, we will wanna be able to call you and let you know.
But we can let you know that it won’t go beyond our team. Nobody else is gonna get your contact information. And if they really persist, and they insist on not being contacted further, we do have them sign in, but we let them know they won’t be contacted.
Matt: What kind of marketing materials do you have at the open house? Is there a lot of stuff that they can read and take home with them?
Jordan: Yeah. So, we brand everything, of course, but we have information about our in-house lender that can save them thousands with a no-fee loan. We have interest about down payment assistance. We have information about home warranties and what comes with that and what they can expect. We have a market report that lets them know what else is available nearby and what comps are for this home, etc. And so, there’s a lot in there that they can take and have that has our agents’ contact information or our team contact information that they can get ahold of us.
(Matt: Hi, this is Matt McGee. I get emails every week asking me, “How can I be a guest on The Walkthrough™?” My answer begins with a couple questions. What’s your superpower? What are you great at that you can teach other agents? The other thing I say is, you have to be willing to go deep and share the secrets of your success. You have to come from an abundance mindset. If you know someone who would be a great fit, send an email to walkthrough[at]homelight.com. Again, that’s walkthrough[at]homelight.com.)
Matt: What does your follow-up look like with the leads that you get at an open house?
Jordan: So, our agents are allowed to keep one sign-in. Well, first of all, it’s important to know that we do our open houses with a virtual sign-in. So, our agents bring their laptops, and they will sign in [to] Brivity, which is my business partner, Ben Kinney, owns Brivity. We use that. And so they will sign in, and then that will go into our CRM.
What’s cool about Brivity is that, immediately, after the open house, after we shut it down, it starts texting every person that signed in, and it sets them up within a 10-mile radius within a 10% of the price of the open house that we just hosted.
Matt: For auto-notifications.
Jordan: Yeah. So, they’re gonna start getting homes from us instantly, and they’re gonna get text messages from us instantly that “it was so great to meet us at the open house”, etc. Our agents actually only keep one lead or one appointment, nurture relationship for open house. The rest go to our director of lead generation, also known as an inside sales agent, Valencia. She’s been with me for five years, and Valencia gets all those leads.
So, like, this morning she got 55 leads because of all of our open house sign-ins. And so, she is putting them on like, a systematic follow-up plan. We actually have a virtual assistant in the Philippines that will input anything, set up market reports, anything like that, that needs to happen to those people, and make sure that they’re correct. We still have a couple agents that like to sign-in on paper, but most of our agents are doing the digital version because it starts instantly communicating with them.
They come to your open house. They’re thinking about buying a home. You’re thinking about the groceries you need to go get. You’re not thinking about calling buyers right now or texting them or getting in front of them. If they text back, then the auto plan automatically stops and you’re notified that they’re texting you back and you can get on and start interacting with them right then.
And so, our agents are only keeping one great quality connect per open house. That allows them to focus. It is my goal that my agents are only working with 100 to 200 people in their CRM that they’re following up with on a consistent basis because I’m gonna be auditing that. Other than that, listen, my inside sales agent can follow up with 2000. She does it for a living. It’s a full-time job being told no.
But my agents would have sticky notes and, I mean, all kinds–and who knows if they would make consistent connections. So, we try to, very much simplify–and we want them to be excited to call these people. And so my inside sales agent will call them, and if the lead sets an appointment, she will set the appointment with the agent that held the open house.
And there is a 10% off the top that is paid to the inside sales agent for setting the appointment. So, now my agents holding the open house want to give it to her because she’s gonna keep up with it and probably do a better job setting the appointment. She’s also gonna ask our 30 pre-qualification questions for every appointment.
And so, the agents are gonna get a quality appointment sent back to them that, maybe, they weren’t able to establish because they were talking to somebody else. And so next thing I know they’re on an appointment with somebody else that came from the open house, and they’re still rewarded for the work that they did generating that open house.
Matt: I am hearing just there’s so much detail from what you’ve described, going back to the start on Tuesday, when you’re drafting all this stuff all the way through the week, the marketing of it, the placing of signs, Jordan, the open house, itself, then the follow-up. There’s so much to keep track of. How do you make sure that your agents are actually following through on all this stuff?
Jordan: First of all, I will secret shop sometimes on Saturdays or Sundays. If I’m going to an appointment, I will stop by and just visit an open house, especially for one of our newer agents, and just make sure that the sign placement’s good and all of that. I love it, too, because our community knows a Davis Team listing. They see them all the time. I mean, if you’re doing 12 a week, they’re, consistently, seeing them. And my friends and family will shoot me pictures of a Davis Team open house sign.
Jordan: And so I know they’re doing what they say that they’re gonna do, but you’re gonna look at conversion. And then we’re tracking our agents, how many open houses they do, how many people come into those, what their conversion is. And what’s interesting, Matt, is when you do track that, if I say, “Hey, it’s taken you about four open houses to set an appointment, and you’re getting the average of five people at each open house. Let’s talk about what you’re saying at the open houses that may be keeping you from getting an appointment. In fact, why don’t you go talk to this agent? She’s generated an appointment every 1.2 open houses.” Right?
And so they’re able to go have a meeting with somebody and say, “Can I shadow you again? I know I’ve been doing this for six months or a year but my conversion isn’t what yours is. Can I shadow you and see how that’s going?” And so we track everything as a metrics, and that way we can go back and we can isolate and see what’s happening.
Matt: Do you have, like, scoreboards and such around the office where all these numbers are?
Jordan: Yes, we have scoreboards everywhere. And so every week I put up a scoreboard, which is my scoreboard at our team huddle. And it says, “Here’s how many open houses we’ve done versus the goal.” And I look at how many weeks are we into the year. So, let’s say we’re 38% through the year. Are we 38% of our open house goal? Are we 38% of our listing goal?
And then from there, there’s some, you know, Excel data math that tells us that, you know, we’re converting at 58%. Hey, we’re doing better than last year, but remember our goal is to get to 65%. So, let’s go back to some of those listings that we didn’t take. Let’s go back to some of those buyers that we didn’t take and convert those, and just be really conscious of what we’re doing.
We actually track that per person too. So, we can tell you, you know, is Brian a better converter than Anne. Is, you know, Amanda better at converting than Kelly? And so we have those numbers and that can also guide our decision of who we put an appointment with. Like when our inside sales agent generates an appointment, if, let’s say, Anne has a 90% closing ratio, well, Anne’s gonna get more listings.
Matt: We have a listener community of about 2000 agents on Facebook, Jordan. And I told them that we were gonna be having this conversation with an agent who is just crushing it with open houses. What questions do you have? So, let me fire a couple listener questions at you. This is from an agent named Cindy Frank Brockman. She said, “Do you have a budget that you stick to with every open house?”
Jordan: No, not necessarily. Everything is pretty much free. Once we’ve purchased the signs, we don’t do cookies and drinks or anything like that at all. I don’t find that people really need or want your refreshments. And so, for the most part, everything’s prepaid. So, it’s just the cost of printing the flyers and things like that. But there shouldn’t be much that goes into a budget.
If there is, I would say one of our agents would probably stop at the store. If it were, like, an after school, they might grab, you know, a clear liquid for children and maybe a cookie. But other than that, I can’t imagine that it would go over $20.
Matt: Is there any budget spent on, like, Facebook ads or anything like that?
Jordan: No, we don’t. Most of the time they aren’t necessary. We find that the third-party sites that syndicate our listing are where most people are seeing the listing come through, or they’re just drive by, out for “a Sunday drive sounds fun”. Those tend to be longer nurtures. You know, they may not buy or do anything for a year. But the people that are within the first 90 days are usually already on the search portals looking.
Matt: A question from an agent named David Green. He said, “How do you change a browser into a client? So, someone who comes to your open house, maybe they didn’t like the house, and then they just leave. How do you still win them as a client?”
Jordan: I think one of the things you can do is just setting them up on a search within a 10-mile radius within a 10% price point. So, with our CRM, when you do that, if they’re getting on and opening those and looking at them, then you can actually see that data that they’re opening their listings, and how many times they’re looking and how many times they’re clicking. And so that’s a great way to bring that up.
And at first, we’ll try to just say, “Hey, I saw that you were in the market to buy a home.” And make casual conversation because the next step can creep some people out, so you probably don’t wanna start with this. But then we’ll say, “Hey, I just sent you some listings, and I saw that you opened them.” And so, some people are like, “Oh, yeah.” And we’ll say, “Would you like to go see that house at main street that you were looking at?”
Now, for some people that may be creepy, but, I mean–or maybe target all of them. Everybody who sends you emails, they know how long you’re on their site, and they know what you’re opening. They all have unique URLs. And so, if we can’t get them just from like, “Hey, would you like to get together to talk about what interest rates are doing in home-buying process? What that looks like.” Then we’ll get them based on, “Hey, do you wanna go out and see this property?”
We’ll meet somebody at a property, and then have a buyer consultation at that property and get them set. But I think most of all, it’s our market knowledge. We’re full-time agents. We’re well versed in interest rates. We’re well versed in down payment assistance programs. So, I think the market knowledge really sets you apart to get somebody from browsing to, “Wow, they’re really knowledgeable and trustworthy. I feel like I could work with them to purchase my home.”
Matt: Jordan, when I think about what you’re doing, all the stuff we have talked about today, and I mean this in the most complimentary way, I don’t feel like you’re doing anything like, crazy new and adventurous. What I think separates you is that you are really intentional about open houses, really systematic about it. And that is what makes it a success. Would you agree with that?
Jordan: Yeah. Completely. The consistency over time. Success is not sexy. In fact, it’s pretty boring. Just consistently doing what you can and then there are measurable results. And you can make changes based on those little measurements. The results are sexy. Everybody wants that the 230 sales for $2 million in GCI, that all sounds exciting. But the actual day-to-day is pretty plain and pretty boring.
And being in love with the activity and knowing that your activity breeds more activity, it’s not plus, it’s multiplied. You know, three plus three is six, but three times three is nine. And when you consistently do the activity time and time and time over and over again, you’re gonna get that multiplication, not the addition.
(SHORT MUSIC TRANSITION)
Matt: So, did any of that sound old-fashioned to you? Not to me. I mean, the line I keep going back to was when Jordan said, “Open houses work if you work them systematically and consistently.” Amen to that. Thanks so much to Jordan Davis. Great, great stuff. Hey, if you want to connect with Jordan, we’ll have some links to her website and her social media accounts in today’s show notes.
How about we do some takeaways from episode 88, “High-Level Open Houses With Jordan Davis”. There’s probably like 20 things I could talk about right now. So, wish me luck as I try to narrow it down to just a few.
I’ll start this way, take away number one: Open houses aren’t dead and they are not out of style. What is out of style is not putting any effort into open houses. Jordan said, “If you’re just gonna do them once in a while, if you’re not gonna be serious about following up with your leads, you are wasting your time.”
Take away number two: The Davis Team has a couple different ways that they get people in the door. First, they add each open house to the MLS at the same time that the listing goes live. That way, buyers who are browsing the big real estate portals will see the open house details, and they can choose to attend and ignore the portal’s lead gen form. They’re also very systematic about placing signs. Jordan shared a lot of detail about that. And interestingly, she said they don’t do any Facebook ads to promote the open houses.
Take away number three: They are systematic about following up with open house leads. Now, the agent hosting the open only gets to keep one lead–whoever they had the best connection with. All of the rest of the leads, go to the team’s ISA who takes care of all the follow-up. Now, if and when the ISA sets an appointment with one of those visitors, that’s when it goes back to the agent.
Take away number four: Jordan and her team are also super systematic about tracking and measuring. They use data to determine which agents handle which open houses. Her highest converters draft first. Jordan wants them at the best open houses. They also know how many visitors it takes to set one appointment, how many appointments it takes to get one closing, and so on. Jordan walked us through all this back at the very beginning of the conversation. In a nutshell, she said, they know that it takes about four open houses for them to get one transaction. And she said they have scoreboards everywhere to keep everyone together and accountable.
I could go on and on. Let’s wrap it up there. Those are your takeaways this week. If you have any questions or feedback about something you heard today, couple different ways you can get in touch with me, leave a voicemail or send a text. The number to use is 415-322-3328. You can send an email it’s walkthrough[at]homelight.com or just find me in our Facebook mastermind group. Go to Facebook, do a search for HomeLight Walkthrough™ and the group should come right up.
That’s all for this week. Thanks again to Jordan Davis for joining me. And thank you for listening. My name’s Matt McGee. You’ve been listening to The Walkthrough™. At HomeLight, we believe in real estate agents. We’re here to explore how great agents grow their business, stand out from the crowd and become irreplaceable. Go out and sell some homes. I’ll talk to you again next week. Bye-bye.
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Header Image Source: (Shutterstock / Dmitry Demedovich)