More Realtor BS: Open Houses Are A Waste Of Time | Ep 31
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We are kicking off a new series where we tackle some of the old-time real estate BS that’s out there. Things that have been said and taught by realtors for generations that are NOT true.
Today, Glen attacks the long-held myth that open houses are a waste of time. Drawing from his personal experiences since his rookie days, he explains how open houses, when done right, can create urgency, spur competition, and help gauge your pricing strategy.
He also discusses the importance of proper marketing, the psychology of potential buyers, and how to run an effective open house to maximize offers. Last, Glen shares his open house checklist, strategies for creating a ‘buyer feeding frenzy,’ and tips for effective follow-up with potential buyers.
Throughout the episode, Glen emphasizes the importance of proper pricing and staying cool and composed during the selling process.
Key Moments:
- 00:00 Debunking Real Estate Myths
- 00:40 Introduction to Talking Realty
- 01:29 The Open House Debate
- 02:41 Glen’s Early Real Estate Days
- 04:27 The Value of Open Houses
- 09:33 Creating Buyer Competition
- 13:25 The Buyer Feeding Frenzy Strategy
- 16:50 Effective Open House Techniques
- 23:44 Adjusting Your Strategy
- 28:22 Effective Pricing Strategies for Open Houses
- 28:39 Learning from Competitors’ Open Houses
- 31:31 Engaging with Potential Buyers
- 37:57 Follow-Up Techniques After Open Houses
- 42:07 Handling Offers and Creating Urgency
- 48:16 The Importance of Open Houses and Final Tips
Resources Mentioned:
- West Music
- “The 7 Habits of Highly Effective People” by Steven Covey
- Episode: Truth 11
- Episode: The Buyer Feeding Frenzy
- Maslow’s Hierarchy of Needs Pyramid
- “You Can Sell It” by Glen Whitten
- Open house checklist
- Episode: Offer Deadlines
- Open House sign-up sheet
- Living To Listing Online Course Before You Sell – Money Back Guarantee
- Episode: Stan’s text message
- Episode: Rebound playbook
- Talking Realty YouTube channel