Perception, it’s Free & it’s Legal
Real estate is a very transparent, ethical, and regulated industry, so there’s not a great deal of margin for error. However, there are some techniques and strategies that can be used to create a certain perception around a property in order to get a better result without being misleading or deceptive.
What do I mean by creating a perception?
We all know that if buyers are coming through the properties and they see a lot of other buyers there, it’s going to create a perception that it’s a popular property and they are going to need to make a quick decision before someone else snaps the property up. Now, I know full well it can be a very difficult thing in slower times to create that kind of perception, simply because we’re not getting a whole lot of people coming to our home opens.
However, there is a way of creating that perception by simply getting more people to your home opens so that when your buyers are there, there is that perception that it’s a popular property, which may lead to the prospective buyers making an impulsive decision and buying.
So, how do we get more people to the property without being deceptive?
If you want to get more people to the home opens, you simply have to invite them. Doesn’t sound too hard, does it? A great way to get more people to home opens is to plead with the sellers to get as many of their friends and family, even friends of friends, or family of friends, to come to their home opens during the campaign.
It doesn’t just stop there. You, as the agent, can also invite all of your friends and family to the home opens. Tell everybody the weekend before or at a social gathering which home opens you’ve got, welcome them and tell them there will be something at the home open for them. Once again, it’s that law of reciprocity coming into play. Whether it be a cupcake, a macaroon, or a barista coffee, you’ve got to do everything and anything you can to get more people to the home.
But that’s not all.
There’s a little old trick we call invitations. Obviously, the more people you invite to each home open, the more people will turn up. If you’re inviting 1,000 people from the direct area, the percentages are about 1.5% to 2% turnout rate, depending on what you’re promising to give them if they come. Remember, reasons are the fuel in the furnace of achievements, so people will respond if you give them a reason. This means invitations become an absolutely amazing way to get people to home opens.
It’s key to remember that the more people you can get to your home opens, the more perception you can create that it’s a popular property, and the more offers and bids you’ll get in order to get the seller the highest the market is prepared to pay.
Now, I know some of you are out there thinking, “wow that’s a lot of work”. Well, I think the reality is that getting ten, fifteen, or twenty groups through your properties is not something that’s going to happen forever, and it doesn’t happen all the time, so we’ve got to be super creative in getting people to the properties now. It doesn’t matter who, it doesn’t matter how, if you get people to the property you will create the perception that it is a popular property. Remember, perception is free and it’s legal.
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