The Ultimate Open Houses Playbook
Before we end the year, I wanted to share a clip from this year’s Success Summit which shows something we’d never done before. We gathered over 80 case studies from our top clients and then boiled them down into 15 Lead Generation Playbooks, each focusing on a different lead gen pillar. And today, you’re going to get a glimpse inside the one for open houses.
In 2021, Stephanie Younger’s team held 480 open houses. 480… And they did two-million-dollars in GCI. But for Stephanie and her team, it’s not just about the number of open houses that they did, but their specific procedure for hosting every one of them. In this clip, I walk the audience through Stephanie’s playbook and show you her open house strategy.
Watch or listen to this episode and then download Stephanie’s Playbook for yourself, right here.
In this episode, we discuss…
00:00 – Introducing… the Playbooks
02:10 – Select your lead pillar
03:20 – By the numbers
09:42 – Stephanie’s Playbook
14:00 – 3 ways to improve open houses today
16:25 – Postcards to R&D
18:54 – A glimpse into another playbook
Interested in a FREE Coaching Consultation? Click Here: https://tfi.media/3w1CxSj
For the majority of my life, I’ve been passionate and dedicated to changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
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Foreign You ready? A big part of this game, as I mentioned earlier is Doug to be double the referrals Do we double the demand? Gen: Do we double the brand? And the answer for the vast majority of my friends up here, the answer is All the Above right? One iconic move on branding, one iconic Move On Demand Jen one or two iconic moves on my database and I'm gonna cremate it and go from selling 200 or 300 homes to 500 or 600 homes. But I want to go more in depth with you? So can we give these 15 just a giant Round of Applause Many of them are inside the room, one sitting right here in front of me. Now again, as I mentioned, we literally had Lindsay 80 people submit. Here is my case study for all these different marketing campaigns.

Here's all the stuff I'm doing. We synthesize it Glenda Baker down to 15 but as I mentioned, we're going to be publishing two of these every month, so all of you are going to see this stuff all the time. Today we're just going to focus on a few but high level. The playbooks totaled a billion dollars in sales volume, 1500 transactions combined from all of this, and you can see about 24 million dollars in commissions.

So this isn't like Theory As we get into this lead, you're going to see it's a lot of practical. Almost too much to put on slides. Is everybody hearing me? It's almost too much to put on slides, which is why we put everything inside the resources. So you got everything.

I'm going to go through them. but I'm going to talk more high level I'm going to say should you do a lot of open houses, should you go after expireds, should you do Realtor.com let's go high level with it and then have the conversations sort through what are the ones that are right for you. You're not going to do it all you want to pick the one or two that will be your next iconic move. Does that make sense? All right.

Did you guys all get this? Did everybody already download it? Yes or no. Yes or no. Okay, if you haven't I Mean we put these things everywhere. So you get the entire workbook, all my slides.

Everything is there, all right, so let's keep jamming. So the outcome for this session is to select a lead pillar that will assist me in doubling. That's the concentration. Jay What's going to be the thing that takes you guys from 600 to 800 to a thousand transactions? But here's the key number two: I Want you to listen through the filter of would this be natural and automatic for me or would this be a grind when you're adding the next pillar, look for the things that are more natural and automatic in the beginning I'm great with my past Alliance and sphere you should be doing Geographic farming because it's relationship marketing I'm great with doing video.

Awesome! You should also think about open houses because what you are is The Gift of Gab You like to educate and connect. put yourself in a situation to do more of that. so we want to be listening through the filter of what's more natural and automatic first before we say all right Christy What's going to be the grind that I got to Slug It Out On with that said, very important to listen to the details. Now do all of your workbook out in front of you.
Okay, so let's find the first one which is Stephanie younger I don't know the order. So as soon as you find the page, please yell it out loud Stephanie younger I Think the first one is actually Realtor.com and the second one is going to be Stephanie younger. What? Page 5-0 Go to Page Five Zero Five zero. Now we only in like forsake of printing materials Jenny We printed two for each, but the 15 are all there already on the website ready for you to go after.

So let's start with Stephanie Now again I Believe success leaves Clues and I believe if Stephanie can do it I Think you can do it. So let me give you a little insight for Steph who I've known for my goodness I don't know. probably her entire career. In 2021 last year she did 301 close transactions which that's a good business Yes or yes or yes I See you guys are always like looking at the case studies.

She only did 424 million dollars in volume for 9.85 million dollars in Gross commission income. Now she has a team there on splits. She gets a big chunk. They get a big chunk you can see this year January to July she's already done a little more than half so she's ascending.

But where she's killing it is her average sales price. Where most of you are killing it is, your price keeps going up. So she's already at 310 million with 6.6 million dollars in GCI Now I bless you, was that a good one? So I was flying from New York to LA and I opened up like USA Today no The guy next to me had it. no I had it I should remember I had it and the headline said a sneeze is more powerful than an orgasm and the guy next to me goes Bing can we get some pepper? So is that good for you? If you have two, it's a multiple Ladies behave.

This is an adult seminar. Okay, so let's start with the following questions: Lisa Chennady, How much commissioned income did you guys generate from open houses in the last 12 months? Not enough Melvin How much commission income did you guys generate from open houses, your entire company, and your team in the last 12 months? Same answer as Lisa So what I'm already hearing is there's an upside opportunity, at least for two of my besties to crush on open houses. How many open houses do you hold annually? Somebody just give me your number. How many do you annually? A hundred fifty? Some of you, none.

What's your marketing plan to drive traffic? What's the Playbook Before, during, and after? And how many leads and contacts did I add to my database from doing open houses? Now if you start digging into the level of detail that she shared, this is a two million dollar case study. Two million dollars in GCI But look at these numbers guys. DJ Look at this. She's got 24 agents on her team.
They did 480 open houses last year. 480 open houses in one of the single hottest markets where you put a home in the market. It sells instantaneously now as things are slowing down. I'm like Steph We could double that number.

If you're paying attention, look at percentage of business attributed to open houses 19 of 9.8 million dollars in commissions Lisa from open houses And you get listings from open houses. And since we're focusing on that, right? But look at this: Contacts added to the database 19 200 contacts added to our database. Just by doing a lot of open houses, that sounds like close to free leads. What do you guys think? And in Her: Market in her Geographic Farm In the Territory: Whether she's dominant so you can see percentage of leads Contacted: five percent commission, you know.

Conversion 20 average time four to five months normal length of open houses only three hours, but hours spent four and a half I Can already see a bunch of you now digging through the workbook. So we asked Steph why 480 open houses and I thought this question was the right question and her answer was spot on. Open houses like merchandise displays I I'm open for business Jay How many people on the team? 35 sales agents? What if every one of them did 24 open houses a year? They do. Thank you very much ready let's keep jamming.

We said what's the back story she was concerned about and I'm sure many of you have had it like the efficacy of like doing the same house open over and over and over and over and over and you know she was kind of I Don't say anti-open houses, but she was struggling with it. She's like, would the open houses feel less attended? You know, Would it undermine the perception of demand? You know, Would it decrease the buyer's sense of urgency? Would a second day simply just dilute the visitors from one day the next? And here she said, we're just going to test it. we're going to test it. And here's what she discovered: The attendance was even better for both days.

But read the bottom line. I think the best part is she said buyers that were really interested in the opportunity to visit multiple times there by increasing their certainty and decreasing cancellations. They got their family there, they got people there, they fell in love with the house and they bought the house. So you all get this because most of you are doing it at Scale.

Her old thing was do open houses as often as you can. write this in your notes ready Timmy Smith He talks to a brand new agent, says what should I do so you know Timmy did okay last year as you saw like you know, 260 transactions, 803 million dollars in volume and he's like. My advice is you should be doing open houses seven days a week seven days a week. put a bunch of signs out.

If you're starting your career, they will come to you mostly neighbors, mostly opportunities for listing opportunities. The point is, my friends, most of you this is a demand gen opportunity that costs very little that especially a bunch of our teams you should be doing at Scale. She's like look, the more names you leave with, get everybody to sign in. You're absolutely going to win.
So here's your playbook and you probably already dig through a bunch of this in the workbook so we'll go high level. She does a lot to drive traffic so beyond the obvious, put it on all the platforms right? Run into the local Publications This is the key incentivize them to show up and they Market come have ice cream. Come have wine and cheese. Come be a part of this experience.

And when you start talking about doing that 480 times surge it's nuts. But her whole thing is look I need to give people a reason to show up that are the neighbors that are most likely to list with me. but that I Love this. Make sure that you're door knocking before you go out like Glenda She's 480 open houses.

She's totally bananas. She's totally bananas now. I'm not even going to attempt to read that because the font is too small and the font is too small. but I wanted to get to this.

The reason why the open house is for her sales agents are four and a half hours is because they show up an hour before to make sure the home is right. Did everybody write that down? That could be the most important distinction for the vast majority of you. You show up three minutes before you walk in. Oh my.

God does anybody remember the name Walter Sanford Anybody Okay, so I'm going old school Walter Sanford Uh. sold real estate in Long Beach California was a client, a friend became a speaker Walter One time gets a phone call from his assistant Monica Reynolds anybody Monica Reynolds now runs a big division of Keller Williams and the call basically goes like this at his house. Hey Walter I Promised the seller that you'd be holding this house open. You need to go over there right now and he's like what? what's the address? Well you didn't give me any notice I'm sorry I totally screwed up.

It doesn't matter. Get your ass over there. Go gets his car, races to the house, shows up and the door is locked and there's no lock box. He goes around to the back he Jiggles the sliding glass door open the house is a disaster.

He cleans everything in like 15 minutes. Now this is dating himself and his pager goes off and he grabs the phone and he calls like Monica what's up She's like the sellers are wondering when you're going to get here. Some of you got it. He went to the wrong house, broke in, cleaned their home, wiped everything down including the phone and left.

So I think if we show up an hour early and then what Stephanie would say is it's the half hour after the open house where you shoot all the bomb bomb videos and say it was so nice to meet you. Thank you so much we'll be following up with the information. As promised, she said that's where all the money is. That's where all the money is in her open houses.
So she did give you guys an insane amount of tools so you can see. for example, this is my entire open house supply list. 480 open houses set up the same way every single time you heard Gia Silva talk this morning about Sops Randy and what Stephanie got was write this somewhere in your workbook somewhere. Every one of my open houses looks, smells and feels the same way.

She understands the five senses she plays into the five senses she wants people to go. I'm at a Jamie McMartin Open House. This is different from anyone else's open houses and the moment you have that, you have an iconic new piece of your business. Now you might say I don't really like open houses.

That's not my one. We're gonna give you 15. But here's the best part. She is a Wordsmith So you see inside your workbook, you've got all of her scripts and dialogues.

Pages and pages and pages of scripts and dialogues of what she has her Team Battle tested. So when they meet clients, they know exactly what to say to get them to sign in. They know exactly what to say to qualify. They know exactly what to say when they've got I've already working with another real estate agent or I've Got a Friend of the business.

There's no new objections. The key is she has a complete blueprint A to Z exactly how they run it. All the tools, Everything you need to know but we asked each one of them. Can you synthesize like three things And here's what she said: start scheduling open houses Saturdays and Sundays at a minimum stop doing one day.

You know what? Go to this page. What page is this on 54 55 where it says the three things. Okay, I'm looking at it. What page is that on the left? 54.

we put a lot of on that page. Do you get a microscope that goes with that? Okay, that's why you want to download because then it's all big and beautiful. But here's the thing she's saying: Start scheduling open houses Saturdays and Sundays at the minimum. Will you write this on that same page.

Stop doing open houses trying to find one. That's the mistake I Think people make you're like I'm gonna go do an open house I'm gonna sit there for three or four hours and I'm identifying one person. It'll be all worthwhile. And Steph's response is this is the most inexpensive way for me to suck all of the neighbors into my database.

At scale: adding 19, 200 people do our database Lindsay like that in a year, then add 10 more sales people and average another 20 open houses times 35. Sales people like what Jay's doing and now it's just another defensive move for Market Domination. That's the game. Number two, she said obviously get the names and emails and the numbers.

as many people as you can of course. and number three I Love this. Follow up A house of Big Ticket item. Be patient and follow up.
But now she went through and said, here's six things I'm going to do going forward again. Probably a little hard to read because there's a lot of text, but let's just look at number one. She's like the market is changing. We've got more time.

This is where she becomes Jamie even more dominant as you're doing. So she's like it's now mandatory. we have to knock on a hundred doors around every open house before we do the open house. Because who do we want to invite to the open house? This is Mega Open House 101 for all my friends in the room Mega Open House 101 Invite All the neighbors.

Suck. All the listing opportunities out of the marketplace. This is where this stuff really works now. The balance you can see and it's all inside your workbook.

But I Want to get to this. Is this the one for me. Tell your buddy, just give your buddy feedback on open houses. Is this the one for you? Is this the one? I Don't care.

Is this the one for you? Is this the iconic move that could add 30 or 40 or 50 or 100 transactions Not Can I Sell one. Is this the iconic move? I Would need to get a microphone, but hold on. Actually, not yet. Not yet.

All right. So come back to me. Chanel I'm going to interrupt this with some sexy ass postcards. You're all going to R d You guys ready? All right? So by the way, there's way more than 20.

That's the same QR code that's the same QR code. It's the same. It's the same QR code. Okay, so you ready.

I Love this postcard I Love that it's odd colors but it's her Brandon pink I Love that it shows all of the transactions that they've done. but Tom I'm a new rage and Ellie did 11 sales make the bubbles bigger? Does that make sense? Or you take your company all the transactions and you had all of those and you say a team always out produces an individual and now you've got the whole company's track record on your direct mail piece? So I love that. But is anybody's picking up on this? the QR codes on all the postcards? Now that's become magical, right? I Love this. Every sale has a story.

I Would write that one down and steal it. Every sale has a story. Every home has a story and what she's doing is now telling the story of the transaction which we saw Robert Mack this morning say case study marketing not just sold. Let me tell you the story of how this worked versus just.

here's another transaction. I Love this one again. this is hey this is an entire back of a postcard that says follow me on Instagram Is that a good idea? What do you guys think? Come be a part of my community. See all the homes see everything that we're doing I Thought that was brilliant.

In addition, let's go to Nikki Now I am a big fan. You've heard me say this phrase: Arbitrage I Think right now there's a couple low-cost options in comparison to others. I would put Google at the lowest cost then I'd go Realtor.com that I would go Zillow just based on cost per lead, right? Google being the lowest Jason's going to talk about it tomorrow. but what I'm going to show you is Nikki Weiss But first, let's do this: I Want to know from all of you how much commission income did you generate from online leads in the last 12 months? how much commission income did you generate from I put a dollar into online advertising? How many dollars did you get back? When you see the level of detail and sophistication that Nikki puts into her business, you're gonna be like, no wonder she does that well.
But now what's great about this Playbook is you have everything in your book. Everything including scripts, how she organizes the leads, What? CRM they use. so let's jam through it all. Take a look, you ready! So her return on investment from Realtor.com was 500 percent.

That's pretty good. Yes, I'm sorry, is that good? Hello, But you know what's more exciting about that? Even though her conversion for her new agents is give them a hundred and they sell two houses, she adds 98 more people into her database to nurture, build relationships with love, on establish trust with, and then you look and see her experienced agents. They're converting four to six percent so you can probably figure out she has more newer agents than experienced agents. So I better Blended Average is probably like 2.8 or 3 percent.

so every 100 leads she makes 2.8 to three close transactions. That's a good Roi At five times, it's 47 of her business people. and if you look here, that's supposed to say 127. That would be horrible if she went from 182 to 12.

Team: That's supposed to say 127 at least from two weeks ago you can say or she sold a bunch of really expensive houses one or the other. Hey, I'm perfect. I Also, screw up. You know I was on PowerPoint when there's mistakes.

All right. My point is, when you look at this number and say it's 47 of 127 closed transactions and she's investing a dollar and making five. If you gave me a dollar and I gave you five, what would you do next here? here's 10. and I'd say here's 50.

then what would you do? No, you're cheap. You'd go here's 10 again and I'd go here's 50. you go here, stand again. I Go here's 50, Then you go here's a hundred because you're a baller and I go here's 500.

But online leads. That's how it works. Direct mail. That's how it works.

Open houses at scale. That's how it works I Invest I Receive I invest and I receive. The bummer is it's not like going to Vegas and going. here's a dollar and get five.

It's here's a dollar. 30 days later you get one closing, but the next 30 90 days you get another closing. The next six months you get two closings from that same dollar and then by the end of the year you ended up with like four or five closings from that same dollar. Does that make sense? Like that's the game you got to get into.
My Mentor Bill Mitchell I told you about like as a family man as a married guy. my mentor he's like I grew up on a farm in Michigan I had to go outside and I had to pump the well to get the water going so I can fill the bucket and go into the house. That's a little different. How old are you do? You even know what a well is? Okay, so he had to pump the well.

Realtor.com Geographic Farming open house set scale Direct Mail is the willingness to pump the well to know the water will come foreign.

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7 thoughts on “The ultimate open houses playbook tom ferry podcast experience”
  1. Avataaar/Circle Created with python_avatars Truth Betold says:

    This guy is a clown. Look at his outfit: seriously? A polyester vest, black sneakers with white bottoms, bracelets galore, an onyx back ring, he thinks he’s so hip. Goofball.

  2. Avataaar/Circle Created with python_avatars Larry Hughes Jr. says:

    Where can I download the workbook? @tomferry

  3. Avataaar/Circle Created with python_avatars Robert Sartin says:

    Great< video and some nice tips! This is a scary time for new investors but the best thing you can do is not to make decisions based on emotions. This could actually be a good time to buy more of your high conviction stocks or crypto on a discount. Wealth is created during bear markets, not bull markets. If your portfolio is really effecting your mental health then delete the app and go for a walk. Let the market do its thing and have a long time horizon. I buy and just trade long term more than ever, I have made over 19` btc from day trading with Harvey Creswell Crypto in few weeks this is one of the best medium to backup your assets incase it goes bearish.

  4. Avataaar/Circle Created with python_avatars Chatham Skies Realty says:

    Who approved the FONT size colors. Light, orange over blue? Small fonts hard to read TOM. Have someone screened these before an event

  5. Avataaar/Circle Created with python_avatars Ericka Williams Classy Climb Smartphone Money says:

    Good information

  6. Avataaar/Circle Created with python_avatars Austin pe says:

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  7. Avataaar/Circle Created with python_avatars prescott Mbarki says:

    *Making money is an action. Keeping money is behavior. Growing money is knowledge.*

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