Hey there! Do open houses work? Even though you know we are in the midst of a coronavirus pandemic and Singapore has barely made it out into, you know, phase two but i feel that you know these open houses have not been very effective even before the corona virus pandemic. Yet, why are you still doing it? hi my name is Yasser khan and i'm the author of property agency secrets book, which is the most powerful book in the real estate industry and i'm a no bs coach. i teach property agents how to make more money, how to have more time, how to get more freedom, how to get more YESES without all the bs… so you know a lot of agents out there still continue to do open houses and why? what are the reason? why open houses no longer work even though you know it has nothing to do with coronavirus? i think the number one reason why, you know, we continue doing open houses is because of the sellers. so sellers need to see they have a need, they have a psychological need to see progress and you know this causes two big problems. sellers forced realtors to advertise the listing and what i teach my agent and what my personal experience has been is that you know you can never sell the house in the ad right what actually happens in state is you get a call on another listing and this happens 80 90 of the time yet sellers are asking agents to list their house to actually get it out there to promote it to advertise it yet it doesn't work and you know ourselves also expecting agents to keep doing open house to open their house for viewing for you know for appointment to get the buyers to come and see come inside yet it's not working why is there so because you know at the end of the day you are only serving the customers need the sellers need actually the sellers need for control seller wants to see progress seller want to see things are under his control right so he takes control by asking agents to advertise the house and so i actually do open house even the open houses traditionally have not been you know been very great at selling right so okay the number one that's the problem right so what is the solution to that how do you solve this problem how do you communicate with sellers to stop doing it right so all these years ago when i was doing you know uh when i was actively selling homes as a realtor right what i saw in other countries was a smarter way of doing open houses and the traditional open house is that you know the seller opens the house and the agent comes in sit down and wait for the buyer to come in and it doesn't work anymore it doesn't work even before the virus right yet because the seller keep forcing us to do things his way that's why everybody else every agent out there still keep doing it even though it's not very effective and there was a better alternative that i found out all those years ago and that alternative is actually quite simple right you sort of like book an appointment it's like you convert the open house into one to many selling so one to one selling is that you sit down with one buyer you sit down with one protect and you try to sell them right instead of doing that you know convert open house into one too many selling and how do you do that right there are two ways all right though before the virus like what i was helping my agent do is actually you know fill up a bus full of all those but buyer prospects who reach out to you that they want to if they're interested in a house they're interested in viewing right fill up a bus hire a bus still have a bus and set aside one afternoon right in the weekend it can be saturday it can be sunday it's up to you right and set aside a specific day just for open house fill up the bus and bring them one by one to all the houses that you have all the listings that you have for example fill uh fill up a path and show them at you know house a once that's done you know basically what you're doing is this is sort of a mess open house right you at one point of time you are bringing like maybe five or eight different buyers in one house and it's over very fast in maybe 10 to 15 minutes then after that you move on to the next house you move on to the next house again and again and you do it until all the homes have been covered and you realize that it only took you one hour to show five or six homes to a group of five to eight different buyers how efficient is that it's very powerful and it's very powerful for a number of way reasons why that because all the buyers are together right and when they see in group dynamics it's easier to sell one-to-one compared to one-to-one it's easier to sell to approve why because when somebody buys then there is there is intangible pressure defeating the project that they want to buy again and again right think about you know all the courses are there all the seminars out there and you know where you know people rush to the table at once and everybody joins them why is that so because you know what everybody sees right you know everybody wants to do it and seriously because there is a real fear and it's true the fear of loss is very true in this case you know so buyers the one don't want to lose out it doesn't matter the agents say that this house is going to be selling very fast don't miss out yet you know what when it comes from the agents right prospect don't believe it because prospect think that you have been saying to everybody else right while the prospect has been going uh going getting along with their lives getting wrong with their family and everything they know that you as a salesman have been busy training busy learning about sales tactics how to close them how to overcome objection so prospects are smart they are not dumb right they expect you to tell them that this property is going to sell fast because they have been hearing the same thing from all the other agents out there yet when you bring them in a group right you are not the one doing it it's actually happening it to them they are the one creating all the prejudice for themselves right you are showing one two three four five houses in one hour to a group of five to eight prospective buyers and they are the ones seeing it right and when they feel that okay this property you know one they know that one buyer already signed and there's a lot of pressure right so this is group dynamic working in your favor and this is a much smarter way this is much better way and this is how agents in the western countries that's how they do it right and the second way is actually to use an online webinar right so conduct an online webinar register this is much much i mean nowadays in terms of the wireless right because of the wireless you can't have so many people right there limitations on group right and it's easier for you to actually avoid that by going online so you create a webinar you choose a specific day specific time for those prospects to come and view online right and when they come and view the house online you actually register webinar to call collect their name collect their mobile phone their email address all right and then on the actual day of the webinar on a weekend you show them on the house simple like that right you bring along your smartphone you go at the house then you show around oh what you can do like how i recommend my agent do it right one by one record all the houses one by one go to the houses before the actual day of the online virtual open house record them one by one use a 360 camera if you have to otherwise just use your video on your smartphone just capture or take photos right it doesn't have to be too complicated not to be too fancy just make sure that you capture the footage and then you you put it in your feed right and then you show one by one number one and you run it and that's how online webinar you can show you know 10 20 houses in just one hour right and while you're talking and all that so make sure that you get ready all your documents online for them to sign in you know and make sure you have a mechanism of showing proof right so for example i and some of my agents use some software which proves that you know some agents book an apartment is easy easily available out there it's so cheap so affordable so use social proof online so online you're going to need it more right so when you use social proof that you know this book an apartment this person book an appointment that person just finally signed a deal this person gets just close close uh you know deal close uh sales for example right so it's gonna bring you're gonna build all the social proof in your favor right so this is the much more enlightened way to do open house you do virtual open house and you do open house where you sell one too many which is much much more efficient than a traditional way all right so i think that's so that's all for now and i hope that you know you like this you know whatever i've been sharing with you my strategies with you if you have any questions feel free to shoot me questions i always you know go through all the questions that agents or members ask me and it is my pleasure to be helping as many agents as possible all right so be sure to subscribe to my you know channels and you know ask me any questions if you have and better yet buy my book at propertyagentsecrets.com bye