Archive for the ‘open houses’ Category

DALLAS (Dallas Morning News) – The Dallas housing market has seen its largest boost in more than two years.

According to the latest index by S&P/Case-Shiller, the price of existing single-family homes in the Dallas area increased by 3.8 percent in May over the same month last year. It was one of the largest increases in the group’s comparison of 20 major U.S. housing markets.

Other markets showing year-over-year gains in May include Phoenix (11.5 percent) and Minneapolis (4.7 percent).

Dallas-area home prices remain about 6 percent below their peak in mid-2007. However, David Brown of Metrostudy Inc. believes shrinking supply and increased demand will continue to push prices upward.

Dallas is the only Texas city included in the Case-Shiller index.

The most significant thing we’ve learned in the past year about capturing and servicing the residential investor market is how easy it is. It turns out that most of the things that work to build a book of business of home buyers and sellers also work when you apply them to build a book of investor clients. Those tried-and-true methods that our industry has perfected over the years produce great results with investors. You don’t need to learn any new marketing and sales techniques, just apply your existing skills toward a new audience.

I am going to dedicate this space over the next few weeks to highlighting different methods and how they work. First up? The Investor Open House.

Is there anything more fundamental in our business than the Open House? Everyone has done them at some point in their career. Why? Because they work! Open Houses are a rejection-free way to meet new buyers. Many top producers don’t bother with them anymore, but I’ve never met anyone who denies that a good open house will attract visitors.

But have you ever heard of an Investor Open House?? Almost no one has until recently but they work like a charm

Investors like open houses just like home buyers do, and for the same reasons. No appointment necessary, just drop in and look around, leave whenever you want. Here are the three keys to make an Investor Open House work:

First, advertise it like this: “Investment Property Open House – Positive Cash Flow” (If you are not comfortable with calculating cash flow, we can help).

Second, the house must be presented as an investment and not a home. Think of it as merchandising. You need a new property flyer.

Third, create investment property flyers for 5 other listings and say “Would you like to see any of these?”

It’s that simple. Investors show up. They are delighted by what you hand them, and many are inclined to see more houses with you because you teased them with the report. This is the easiest way to create more transactions in this market.

Let me conclude by clarifying an important point – I want you to capture the best investor clients, not the “get rich quick”, “find me a foreclosure at half price!” types. If your experience with investors has been negative in the past, chances are it’s because you crossed paths with the wrong ones. There are people out there with realistic expectations, plenty of money, and a genuine need for help from a professional. Finding them is easier than your think. Stay tuned.

To learn more about the OwnAmerica training and tools, click here. We’d love to help you make money with with investors this year.