Open House
Step 1: Scenario
Step 2: Conversation
Step 3: Outcome
Step 4: Analysis
Step 5: Exercises
Click on the 
blue play/pause button on the interactive transcript below to begin listening to the scenario. The transcript is also clickable, allowing you to study the conversation in greater detail.
While getting ready to close down an open house that I'd been holding one Saturday afternoon, during which no one had even stopped by, a couple drove up in an older model compact car and wearing baggy sweatpants and faded t -shirts walked through the front door. Not letting first impression sway me negatively and reminding myself to stay open to opportunity, the following conversation occurred between us.
Now let’s listen to the full conversation.
"Hi, welcome to my open house. You just made it in under the wire." "Oh, we don't want to bother you. If you're closing up, that's okay." "No bother at all. I'm glad you stopped by. Feel free to look around.
I bet you already know how." "Have you been to any other open house this afternoon?" "A few yes, and saw some yes today as well." "And of the various homes you've seen are any a real candidate for you? No, not really. Everything just seems to need updating. I understand. So you're not looking for a project? No, not so much. Been there, done that.
Ah, got it. Did you remodel or build new? New construction. A nearly three year 10 ,000 square foot project. We never want to see another contractor again. Eh, I can only imagine.
Where did you build? Just outside Minneapolis. I see. Sorry, you just visiting here in Southern California, or are you thinking of making a move? Well, it would be a second home for us, you know, for during the winter months. Minnesota can get pretty cold Buh, I can only imagine. So are you staying here in a hotel at this time or running for a period of time? Well, actually, we already on a place not too far from here.
Ah Very good. How long have you had it? About 15 years. It was an impulse buy during a guy's only golf vacation and probably the reason for my divorce Which is how I ended up with the place Hey, we all know about the twists and turns of life, right? Why might you want to make a change in going forward? Just time for an upgrade something bigger, you know for family and in a different neighborhood and definitely on a golf course Make sense. How big is your current place? Oh family, and in a different neighborhood, and definitely on a golf course. Makes sense.
How big is your current place? Oh, I'd say about 1800 square feet. And the bedroom bathroom count? Three bed, two bath, just a little condo. Sounds good. How much bigger might you want to go? Well, this feels pretty good. What's the square footage of this house? Ah, approximately 4200 square feet.
How many bedrooms might you need? For sure, for, and an office. I get it, and that's certainly doable. In fact, this property pretty much fits that bill. What do you think? Oh, you know, we definitely want more modern, preferably inside now. I understand.
The challenges in this community of full - more modern, preferably inside now. I understand. The challenges in this community of full -on modern exterior isn't allowed, although you can go as contemporary as you want inside. Question. If you saw an interior that you absolutely love in this neighborhood, would a more traditional say Spanish -mission exterior still be acceptable? Well, we do really like this area.
So, I suppose if we love the interior floor plan and finish, and if the particular location is right, yes. And what would make the specific location right for you? Definitely big view of feeling of privacy, a good size yard. And since you're here in a gated golf course community, I assume? size yard. And since you're here in a gated golf course community I assume? Yes, I think so. Okay.
So to accurately state what would work for you, a gated golf course community, great view, good privacy, nice yard, four bedrooms plus an office, not a remodel project, and for sure, modern, especially on the inside. Sound about right? Yep. Does that even exist in this community? Possibly, but I'd like to get a better sense for the kind of interior look and feel you're after. No problem. My phone's loaded with photos of what we did back home, and it's spot on the style we love.
Here, take a peek. Wow. Gorgeous. Really helpful .. I see what you mean.
Let me ask you this. If I knew of a property nearby that seemingly fit the various requirements you just outlined, in particular with an attractive modern interior, would you want me to show it to you?" "Sure, but it being Saturday we're about to go out of town for a few days and we'll be back into Wednesday, so we couldn't see it until Thursday. Makes sense. So you're gone as of tomorrow? Actually, not until Monday, but we already have plans to see several properties next Friday with another agent. Cool.
An agent you've been working with for some time? Not really, just a few days. And how'd you happen to meet that person? Our neighbors suggested him. Ah, right. As an agent, I always love it when that happens. But now I'm curious.
If you're not leaving town until Monday, why wouldn't you look at properties tomorrow? Sunday? Well, that's what we first thought to do. But the agent told us he was already booked. Tenatively therefore, we'll check out his recommended properties at the end of the week, or even next weekend. Can't wait too long, though. We're flying home a week from Monday.
And that's why you're here out looking on your own today. The agent you were referred to as an available? Yeah, but we thought we'd pop out into several open houses on our own to get a better feel for what's out there. For sure, that totally makes sense, but in thinking of your somewhat limited schedule, I wouldn't be worth my salt as a professional if I didn't ask you this. What would you do if tomorrow, before you leave town for a few days, I could show you a beautiful property that I think might be a real match for you. Sure, if you know of something, that would be good.
But in the afternoon sometime, no problem. I've wanted to excellent properties in mind. Would one o 'clock work or four o 'clock be better? Let's say around 330 if that's okay. That works. I'll set it up.
Let's exchange cell numbers and I'll text you round of coordinates. Great to have met you. I look forward to seeing you again tomorrow at 330.
Click play and listen to what happened as a result of having the prior conversation while I was operating in Discovery Mode.
The next day, I didn't meet with the couple. Over a two -hour time span, we looked at four candidate properties. Each was actively listed on the MLS, yet none had already been shown to them, or even discussed with them by their previous agent. Three of the four homes we visited were themselves open houses being presented that afternoon by other agents. Two of those agents had, as it turned out, met the couple the day before, before I met them, at still different open houses.
One of those agents seemed surprised to see the couple with me, and later asked me how I met them. Another of the agents directly right in front of me and someone indignantly asked the potential buyers how they ended up with me. Long story short, I did successfully identify a new construction home that the couple loved, the last of a series of properties I showed them that day, and they became $3 ,500 ,000 all cash -fire clients of mine, all starting out of a seemingly dead open house with unassuming later rival visitors who, although not obligated to him, had been viewing properties with another agent.
Although I'm no longer surprised, it still amazes me when an opportunity sometimes a really big opportunity unexpectedly pops up, and my open house case study is an example. I realized that it may initially seem like luck the fact that those potential buyers showed up when they did, but such luck wouldn't have mattered if I didn't have the right skills. The fact is, I wasn't lucky, I was fortunate, and the difference between good luck and good fortune is skill. The skill I'm referring to is that of discovery. Indeed, as I said earlier and undoubtedly will say later, the ability to operate and discovery mode is the high skill in real estate sales.
And in this instance, my skill was the deciding factor, modeling the difference between asking a question from time to time, and actually living in the question. That is, of having an overall approach to talking with people, it's about getting information to flow my way. For me, it's a professional lifestyle. Look at what I learned after speaking with the couple for just five or six minutes. That they were looking but having trouble finding the right property.
What they specifically wanted to buy, particularly in terms of architecture and design, and that even though they already had seen some properties with other agents, they were willing to work with me going forward. The end result? I promptly identified an ideal property that they loved and immediately bought. And I earned a six -figure admission check for less than six hours work. How is that possible? I don't get paid for my time, and I don't get paid for my effort. I get paid for my ability, specifically my ability to find out what people will do and then helping them to do it." But here's the kicker regarding the agents who hosted the other Open House events that the buyers visited that day.
Each had the same chance I did before I did. The different maker? I operated in Discovery Mode and they didn't. And what's truly shocking is that those other agents didn't even know it all happened. Which agent do you want to be?
