16 Million in Real Estate, Year 3, through Open House Real Estate Leads!

16 Million in Real Estate, Year 3, through Open House Real Estate Leads!


– [Lori] Hello, everybody. It is Lori Ballen here with Ballen Vegas, your Las Vegas and
Henderson real estate team, and Ballen Brands, your
digital marketing company and real estate websites. I’m excited today to be
here with Dan Kenney. And today we’re gonna really hit hard on open houses and geographic farming. Now, prior to his career in real estate, Dan spent over 20 years
in the restaurant industry as a server, manager, trainer,
customer service specialist. He worked in fine dining restaurants all over the country,
including several years at a top steakhouse just
off the Magnificent Mile in downtown Chicago. He also spent several years working as a professional stage actor, which my daughter’s gonna love, performing on stages around the country and across the globe,
including performances in Stratford, England and Japan. In Chicago, Dan performed a production at the Goodman Theater,
Victoria Gardens Theater, Looking Glass Theater,
and numerous productions with the Chicago Shakespeare Theater. Now, I tell you all that
because now you’re going, “hmm, well, why real estate?” Well, we’re gonna let
Dan tell you a little bit about that, but Dan recently completed his third full year, just three years, third full year as a
licensed real estate agent, closing 39 transactions, with a volume of over 16 million. He’s now forming the Dan Kenney Group, has a full-time administrative assistant, and is currently interviewing for other full-time admin and a buyer’s agent. Majority of Dan’s business comes from geographic farming and open houses, which we’re gonna talk about today. And he regularly teaches a class on high-level open houses
based on the seventh level open house system from the book Shift. Dan serves in the area,
suburbs of Chicago, Homer Glen, Lockport, Lemont, New Lenux, and Orland Park, number one market share in Homer Glen for the last couple years. So welcome to the show, Dan. – [Dan] Thank you, thank you, Lori. It’s a huge pleasure and
privilege to be on your show. I actually first encountered
you three years ago at my very first family reunion. And you were teaching a breakout session on, probably, SEO or social media. However, at the beginning of that session, you started talking about micro farming and going hyper local. And I had just moved to a beautiful area in the southwest suburbs of Chicago, and I decided when I got back from that family reunion,
I was gonna plant the seeds for a geographic farm
using your techniques. So you were my inspiration to start that, and so it’s a great
pleasure to talk to you and tell you how that’s
turned out three years later. – [Lori] Wow, that’s fantastic! I didn’t know that. I breezed over your little form that you submitted here, and I saw that in your writeup, and I said, “I did not realize that when I chose him “for the interview.” I’m sure that I was doing
an SEO class or something. And absolutely, 100%, I believe that we can take hyper
local geographic farming strategies and apply those
to our online adverts and combine them with physical adverts. Now, I’ll tell ya, I
made a terrible mistake. I’m always sharing my
fail forward stories, and I’m sure you’ll appreciate this. My mistake was I went too
big, too fast, too hard at my geographic farm
with the offline stuff and spent way, way, way too much money on direct mail and really, even though I played out the math, I overestimated the response from direct mail. I thought it would happen quicker. And with the expense that I was spending, it was just, I took on, I
was sponsoring softball teams and I was just doing too much. So it lasted six months,
and I got a couple listings, but I had to stop because I
just spent too much too fast. So you’re here to talk a little bit today about your geographic farming strategies and what those entail, whether or not they include direct mail
or not, I don’t know. You’re gonna talk about that. But I thought I would
share my fail forward story that, with geographic
farming, it takes time, and whether that’s
online geographic farming or offline geographic farming, it takes time to see a return. But you might even be
an exception to the rule with having closed 16
million in your third year, with 64% of that being open
houses and geographic farming. So why don’t you talk to
us a little bit about, you know, tell us why
you got into real estate, maybe why you picked Keller
Williams as your company here. You are with Keller Williams, right? That’s what I saw, yeah. – [Dan] I am, correct, yes. – [Lori] Okay, maybe just talk to us about your step into real estate and then where you’re learning
some of your strategies, besides my little. – [Dan] Sure. – [Lori] And then let’s break it down for listeners that
actually wanna be like you. So tell us why you got into real estate. – [Dan] Absolutely, so I
first got into real estate when we moved from the city to the suburbs because at the time, my wife was pregnant with our first child, and
I didn’t want to raise our children in the city. And I was also working very
late hours in restaurants, which wasn’t very
conducive to a family life. And it was actually the move itself that kind of inspired
to get into real estate, because I had one broker in the city who sold my condo and a different broker in the suburbs who helped
us purchase our home. And the experiences were night and day, in terms of quality of the experience. The agent in the city who
helped me sell my condo was on top of his game. He was amazing. We had an offer, we had multiple offers within the first two weeks, and really felt well taken care of. And ironically, in retrospect, I hired him because of
his farming strategy, because I used to get a
postcard from him every month, which I would throw away, of course, (Lori laughs) until I was ready to sell. And then I was like, hey,
where’s that guy’s postcard? And so ironically, he
had the farming strategy that I’m now doing. Then we had a very different
agent in the suburbs who wasn’t as on top of her game. And I basically said, “you know what? “I can do better than this.” So I immediately got my
license and joined KW. I didn’t interview with any other company. I heard they had the best training, and I’m a very learning,
training-based person. And dove right in, have not looked back. So that’s kind of how I
made the transition into it. And what happened at the beginning, so I started the farming, as I told you, being inspired from you. However, that wasn’t gonna
get me immediate business. As you pointed out, farming
is a get rich slow strategy. It takes a while before you start seeing the fruits of that harvest. I needed immediate business. And I was in my first session of Ignite, and that particular session
happened to be on open houses. And at the time, I also found out in that first session of Ignite that I was suffering
under a bit of a delusion about what it meant to
be a real estate agent. I thought to be a real estate agent, you got your license,
you joined a company, they gave you a desk, and then people walked through the door looking to buy or sell real estate, and you simply said, “hi, how may I help you?” And I quickly found out
in that first Ignite there was this other thing
involved called lead generation. And I started freaking out, because I didn’t sign up to be on the phone all day. (laughs) It was not
something I wanted to do. However, what I realized in this class was that open houses actually are
a form of lead generation. And they are actually kind
of like that delusion, where people are walking through the door looking to buy or sell real estate. You simply say, “hi, how may I help you?” So I immediately started
doing open houses every week, and for the first two
years all of my business came from open houses. That was my only source of lead generation for the first two years in the business. – [Lori] Wow, you know, what I love, I love a lot of things you just said. And I’m gonna pull out all those nuggets when I do the transcript, because it’s so true that people
do get this illusion of “I’m gonna become a real estate agent, “and the business is just gonna be there.” And it’s absolutely not true. You have to go, you have
to pick a lead generation strategy or two and give
it everything you’ve got. You have to model other successful people, and you have to be so
disciplined and so focused and not quit five minutes
before the miracle happens. So all of that is 100% spot on. So you’re saying that the geographic farm was gonna be a long
game, and you knew that. So you specifically went after open houses your first two years. All your money came off of open houses, which is phenomenal and something I would highly recommend to a new agent, because, or an experienced
agent who isn’t paying their bills, you know? A lot of experienced agents
could learn from this, as well. It doesn’t take a lot of
money to do open houses. So this is something you can get really focused on, really
sink your teeth into, create a great plan around, and not have to put out a lot of money. So tell me, you’re getting
started in open houses, how did you know what the heck to do? – [Dan] Sure, so I basically did, when I first started, what I learned in that class in Ignite. And they used to have an entire session of Ignite on open houses. That’s no longer the case, but it was when I first started. And what they looked at was something called the seventh level open house, which is from the book
Shift, by Gary Keller. I’m sure you’ve read it. And there is a chart in there that shows the seventh level marketing
system for an open house. Most realtors put a sign in the yard, put a balloon on the
sign, and that’s about where their preparation
for the open house stops. So that’s about all they do. Seventh level system, you’re
starting a week in advance. You’re doing call arounds on the house. You’re doing social media
marketing for the open house. You’re doing mailings for the open house. You’re doing door knocking
for the open house. Your entire week that
week, your entire job is lead generating for the open house. The whole goal is to get
people to the open house, and then you can convert
them into clients. And so I typically, when
I first started out, my first open house I
had 12 people through, which I thought was horrible. My lender told me it was one of the best open houses she’d ever been to. And now I average between 20 to 40 people for every open house. And I typically walk out
with my appointments set for the week. – [Lori] Wow, okay, let’s
really break that down into some bite-size snacks
here people can chew on. So the first, that was a
terrible metaphor. (laughs) (Dan laughs) Let’s just have a meal together, Dan, while we’re on this call. – [Dan] I get ya, I get
where you’re coming from. – [Lori] Okay, so (laughs) let’s take your, I’ve got an open house, I’m an agent, I’ve got an open house. It’s either my listing or
maybe it’s somebody else’s listing that they’ve
offered to let me go ahead and sit their open house. So first thing is, are you
strategically planning, did you say a week in advance? – [Dan] At least, yes. You wanna start at least
in advance, a week. – [Lori] What’s your typical practice? How do you know, like
when you’re sitting down to take open houses, so first of all, how do you pick them? Are they your listings or
are they somebody else’s? – [Dan] Sure, when I first started, obviously I didn’t have any listings, so they had to be other agents’ listings. Now I do them with all of my listings. And it actually starts
earlier than a week before. It now starts at the listing appointment. I set the expectation at
the listing appointment that open houses are a
huge part of my strategy to get their home sold. And as soon as we sign
those listing papers, I pull out my calendar, and I say, “when are we gonna do
the first open house?” So I start well in
advance of the open house, get it on the calendar. And then it begins at least a week before, we get it in the MLS so
that it aggregates out to all the other websites, as well. We’re gonna post on social
media, do boosting posts, or- – [Lori] Let me hold you one second, cause I wanna be real specific on those. So going back to how you’re
selecting an open house, you’re selecting an open house
at the listing appointment, you’re scheduling the first one. Are you, how many open houses
are you holding a week? – [Dan] At least one. At least one per week. – [Lori] At least one, okay. And do you have a day of the week that you find is best
for you for open houses? – [Dan] I prefer Sundays, only because Saturdays are the day that usually people, it’s the end of the
week, and they’re working around the house or they’re
hanging out at home, working in the yard. Actually a great day for
door knocking is Saturdays, cause people are usually
home, hanging out. Sundays are the days I’ve found that people get dressed
up and go to church and go out to breakfast
and go visit family. And so they’re already out and about. So however, I’ve done
Saturdays and Sundays. Sundays, attendance does go
down during football season around here, though, unfortunately. – [Lori] (laughs) Okay, so I’m
assuming Sunday afternoons. Are you doing like an 11
to three or something? – [Dan] Usually one to four. – [Lori] One to four. – [Dan] So right in the middle of the day. – [Lori] Okay. Now, next, you set the date, and you said something, you started to say you were gonna post this online. So are you first going into the open house and setting, I mean, the MLS
is setting an open house, and then what other online websites are you going to to post your open houses? – [Dan] Sure, so from the MLS, it’s gonna filter out to all the big ones, Zillow, Trulia, Redfin and all those. We also do a Craigslist posting. We also do a Facebook post
that we’re gonna boost or a Facebook ad, and
we’re gonna boost that in the zip code around, and not only the zip code where the open house is, but the zip codes around it, because we have people
moving from other zip codes into our zip code. We also do local
buy-sell-trade Facebook groups in all the surrounding suburbs. I’m members of those, and I always post the Facebook, the open
house there, as well. – [Lori] Great, are you on,
do you guys have Nextdoor in your area? – [Dan] I think we do, and
that’s something I’m not using. Is that something that you found helpful? – [Lori] Yeah, I just really started. I’m not doing advertising
in there just yet, because I wanted to kind of explore what the dialog’s like. It’s a social network,
very much like Facebook. But it’s all specifically
geared around neighborhoods. And so the only way you
can get in a Nextdoor group is to have an address
registered that’s in that group. So it’s fantastic for geographic farming if you live in that area, or for an open house if
you live in the area. So you’re not gonna just be able to go blast everywhere,
but there is advertising. So I’m gonna actually do
a test on the advertising, cause you can advertise
in a different group. And I’ll do some training and
do some reports back on that. But I’m thinking for open houses, this can be a pretty powerful platform. I’ve just started talking
to a couple people that are doing Nextdoor
at a pretty high level, and they’re swearing by it. And being that it’s so
local, so hyper local, I would think real estate
could really benefit if we did it strategically,
not spammy, you know? – [Dan] Absolutely, absolutely. – [Lori] Okay, so your Facebook ads, your Craigslist ads and all that, are you able to track any of, when your people are coming in the door, well, let me ask you this. When they come in the door,
are they signing in anywhere? Are you using an iPad
or, what is your process once they get there? Let’s start with, what’s your process for finding out how they heard about you? – [Dan] Sure, I usually ask
them how they heard about us, and I used to do a sign-in sheet. And I no longer do that simply because, well,
I do it as a formality. And it’s really, because I
was finding the information people was putting was not correct, or they wrote it illegibly,
so there’s no way I could figure out what it was. So what I do is have them sign in, and then I ask them a question that I learned from Chis Suarez. Do you know Chris? – [Lori] Oh yes, absolutely. – [Dan] Yeah, so I learned a lot from him about open houses. And he has this wonderful question that you ask as soon as
people walk through the door, which is, “are you out
shopping for a home today, “or do you happen to live in the area?” And it’s a really simple question, and they’re either gonna say, “I’m out shopping for a home today,” great, you know you’re
working with a buyer, or they say, “no, I happen
to live in the neighborhood,” great, so you’re working with a seller. And at that point, I
basically kinda let them go. It’s very no pressure. I let them kind of walk
around the open house. I tell them there’s food here, there’s good music, and I’ll
check in with you later. And then when I check in with them later, I go a little deeper. And I have a very natural,
non-pressure conversation with them that eventually leads to them seeking something of value from me, either a market analysis on their home or other properties that
are for sale in the area. And that point is when I usually ask for their correct contact information. And that’s usually when
they give me the contact information correctly. – [Lori] Okay, so what I hear, I have two, I have this little thing in my head going back and forth, these little voices. And one is saying, “that’s so good,” and I love Chris’s question. And Chris is the king
of open houses, amazing. I love all that. I love your non-pressure approach. My lead generation side,
the marketing side of me is going, “oh my gosh, you’re
not capturing their info.” So you’ve got some people
probably walking out the door that could be potentials
that, there’s no way you could talk to
everybody at the same time. So my thought just goes to, have you tried any sort of a, I know that
you get bogus information. It’s a numbers game. Same with what I do with web leads. We’re gonna get Fred
Flintstone and Donald Duck. We gotta count on the ones that do end up giving good information. Have you done a giveaway, gift basket, gas cards, or anything
like that to at least, and then put a little mark on there that says, “how did you hear about us?” so you can track whether
Craigslist is working or Facebook is working, or. – [Dan] I have done
giveaway, and you’re correct. You’re gonna get more
complete contact information that way, for sure. – [Lori] My thing is, not just give- – [Dan] And I do- – [Lori] Go ahead. – [Dan] Yeah, well, I was gonna say that I do still have them sign in. And I do check those numbers. My experience has been, though, the ones that I actually
make contact with, there is when I get the
highest correct contact info, and usually book an
appointment on the spot. – [Lori] Yeah, there’s no doubt you’re- – [Dan] And in terms of being- – [Lori] Sorry, we’ve just got a delay. – [Dan] Go ahead. – [Lori] (laughs) We got a delay there. What would your, your
easiest-to-convert leads are always going to be the people that raise their hand in some fashion. It’s just like with me with web leads, it’s the people that actually call that have the highest percentage of actually converting,
cause they’re saying, “hey, I wanna talk to you.” But yet I still wanna get the info on the ones that didn’t raise their hand at that moment, because they’re probably still potentials later on. And my experience with open houses, even though it was forever ago, my absolute best ever
was when we gave away a gorgeous-looking gift basket that Tidal or somebody would donate or a home stager or
plumbers or the cleaners of the house or whatever would donate with their branding on it and whatnot, so it didn’t cost me
anything, or a gas card. And then the key for me
was even if I don’t talk to any of these people, I wanna know how they heard about us. That was my goal back then. Their phone number could be bad, their email could be
bad, but I need to know how that person heard about us so I know what marketing
I’m doing is working, bringing in. So that’s my marketing director hat on, more than my salesperson hat on, because I just wanted that info. So just out of, it’s curious, because wouldn’t you
wonder, like oh my gosh, well, if it’s coming from Facebook, then I can actually check my reach, and if I didn’t spend
enough to reach everybody but I know my highest
traffic coming from Facebook, I can throw a few more
bucks to those Facebook ads and get another five
people through the door. That’s just the marketing side of me, not the sales side, so my two cents. – [Dan] Absolutely, absolutely. And I do ask where
everybody heard about us. And to be honest, the
majority is Facebook. And that’s been the biggest impact really on my open houses,
getting people there, and also on my farming strategy, because something I do in my farm, I’ve actually grown quite a following on my Facebook page in this little area that I live in, and
people, whenever I ask them how they heard about me, they all, they’re like, “oh, you’re
on my Facebook feed “for some reason. “You always show up on my Facebook.” And if someone in my
farm likes or comments on one of my posts, I
immediately look up their address and I immediately go knock on their door, that day or the next day. And I say, “hey, I’m Dan Kinney. “I live in the area.” – [Lori] How do you know
they’re in your farm and they like it? – [Dan] Well, I’ll look
at what town they live in, if I can find that information, and then I’ll look them
up in the tax records. – [Lori] No, but you, somebody liked, when somebody likes your post
and they’re in your farm, then you look them up. But how do you know, are you looking up everybody who likes your post to see if they’re in your farm? – [Dan] Absolutely. – [Lori] Okay, gotcha. Okay, so then, if they are- – [Dan] So I just- – [Lori] Go ahead. – [Dan] Yeah, then I’ll door knock them and say, “hey, my name is Dan Kinney. “I’m a realtor, I live in the area.” And they’re like, “we know,
I’ve seen you on Facebook.” And I’m like, “really? “Awesome,” and then we start
a conversation from there. And it’s a great way to get a door knock that is not a weird
stranger on your front door. – [Lori] Yeah, so you’ve got this killer, it’s funny, we almost will have to do another interview maybe on
this separate farming thing, because we’re hitting open houses so hard, but it sounds like you’ve
got this incredible strategy where it’s almost a full circle, where you’re lead generating on Facebook, but then you’re capturing and
cultivating through Facebook, and then you’re going on a door knocking with the Facebook branding behind you, which is marketing 101
when it comes to radio and television, and
Facebook is the same thing. So you’re creating this brand awareness, and it’s helping you in this full circle, and then including your open houses. On your Facebook ad, so you’re saying that you are asking people
how they heard about you, and you’re hearing the majority
of them saying Facebook. So on that note, what
is in your Facebook ad for your open house? – [Dan] Sure, and
specifically the best photo of the house, doesn’t
necessarily have to be the front of the house. It could be the kitchen’s the best photo, or they got a killer bathroom. I might do a couple different
photos, just to tease it. And then it’s basically just
“open house this Sunday, “one to four, for more
info,” and I usually have a link where they
can find out more info on the property. And I also have the learn more button where they can go get
a home value estimate. I capture leads that way, as well. – [Lori] Okay, so are you sending them to just your general real estate website that has that IDX page property info, or do you have something
special you’re sending them to? – [Dan] So I’ve been doing the
SmartZip thing for my farm. So I send them to that
home pricing website. – [Lori] Okay, great. I just like to give as
much specifics as we can, cause I know people are
gonna “wait a minute, “how do you do that exactly?” You know, cause that, okay, so now somebody, your people
come in to your open house, and you welcome them, you tell them, you ask them the key question there, and then you let them walk around. You’ve got snacks out. And I heard you say music. Do you have something you play? – [Dan] Sure, so the way I look at it, this is what I talk about
in my class all the time with why this is so important, I think there’s two different
approaches to an open house. It can either be what I call
the furniture store approach, and you’ve been to probably
a furniture store before. And you know what happens the
second you walk in the door, which is you’re attacked by
every salesperson in there, and then they follow you
around the whole time. Never really allows you to
let down your guard and relax. Or you can take what I like to call the cocktail party approach. And that is to create the atmosphere of, this was a cocktail party in your home, where your closest family and friends, and then you treat everybody
who comes through the door like that. And I can tell you that
the connections you make are so much more genuine. They let their guard down much sooner, and yes, I have music playing. I usually have some drinks. Nothing fancy, maybe cookies and water. Nothing crazy, cause they’re
not there for the food. And it’s just more of
something for them to do while we very casually chat
and get to know one another. – [Lori] Okay, great. And then out where your
snacks and water are and stuff, do you have
any printed materials out? – [Dan] Yes, I usually have
a brochure on the house or a flyer or something,
and then I usually have information about my business, although interestingly,
something I learned from Chris that he has done recently
is he doesn’t have any printed material. He just carries around an iPad and shows them on his iPad and then says, “well, would you like
me to send this to you? “Great, what’s your email
and your cell phone number?” And then that’s how he’s
capturing their contact info. – [Lori] How is that, what does
that conversation look like? So you’ve got somebody
that walks around the home, and they’re looking very interested, and they spent quite a bit of time. And then they’re starting to walk by you towards the front door to leave. Is there something that, your advice? – [Dan] Sure. Yeah, I mean, at that point I usually, it’s quite rare that I see people, unless that’s just who they are. Some people don’t wanna talk to you. And some people just
pop in and they get out as fast as they can. Most people, I find,
I’ll circle back to them before they’re heading to the door and just check in and say, “how you doing? “How’d you hear about us? “What do you think of the house?” And something very casual, we talk about. And I don’t talk much
about the house, either. I mostly talk about them. So like, “do you live in the area? “How long have you lived here? “What do you like about living here? “If you were gonna move somewhere,
where would you move to?” Things like that. – [Lori] I see, so you’re keeping it more cocktail party-like. And you’re just kind of bringing up, you don’t have a set script. But you’re bringing up
a little bit of general conversation about them, like, “hey, do you live in the area?” And then you’re looking
to see if they might bring up the conversation
around buying a house rather than, you’re not
just coming right out and saying, “oh, are you
looking to buy a house?” – [Dan] Precisely. I mean, obviously they’re
looking to buy a house. They’re at an open house. So I already know they’re
either a buyer or a seller or both. And so I look at it more like dating. Like people often ask me, do I ask them if they’re working with an agent? And I say, “well, if you were out “at a bar or club, and you
wanted to pick someone up “as a date, would you
go up to them and say, “hey, are you dating anybody?” You wouldn’t start the
conversation that way. (Lori laughs) You know? You would find out that information, cause it’s very important
information to find out, cause we don’t wanna solicit
another agent’s business. However, you’re gonna go about it in a much more casual way. You’re gonna get them to warm up to you. Once they’ve warmed up to you, I usually find that, in
the open house situation, then they usually ask
me, “well, do you have “any other properties?” Or “would you be willing to stop by “and look at my house sometime?” I’m like, “great, what are you doing today “after the open house? “I’ve got nothing planned.” I always leave time open
after the open house, cause I have gone right to
the listing appointments right from the open house. – [Lori] Yeah, and how
about showing homes? Have you ever gone and shown homes in the area right after? – [Dan] Occasionally. I gave someone my app once, and they took it, and they
drove around the neighborhood and found a house and then came back and said, “can you show me this house?” So it’s a little dicey. You wanna make sure they’re
pre-qualified and everything. But I have done that occasionally. – [Lori] Yeah. How many open house signs
are you putting out? – [Dan] So I always tell
people as many as it takes. So I look at a Google
map of the neighborhood, and I really make it like breadcrumbs to get to that open house from, and I do at least four major intersections around the neighborhood. So four large, branded directional signs that I get out in advance so that people are seeing my name and my phone number three or four days in
advance of the open house. And then smaller directional
signs through the neighborhood that are leading people
directly to the open house so it would be impossible
for them to not find me. – [Lori] Okay, I love that you said that very poignantly, four key intersections with branded open house signs, which is so, so important, especially if you’re repeating in
your geographic farm, creating that brand
awareness and having signs that are consistent with your brand, that people see over and
over and over and over again. That’s key. So about how many signs, then, if you’re doing four intersections, you’ve got, what, two, a couple signs on each intersection, or just one? Do you have one going each direction? – [Dan] It depends on the
intersection and the layout. Usually at least one, for
the four major intersections. And it’s really a simple sign. It’s just my name, my phone number, and a rider that says open house and a rider with an arrow
pointing the direction of where it is. And it’ll probably say Sunday one to four. And what that does is
that people going to work or going to school get used to seeing that for a couple days in a row and go, “oh, there’s gonna be an
open house over there.” And then the other thing in
terms of brand awareness, as you’re talking about, every week the number of signs I have in
my village goes up, doubles. And so every week, it looks like I’ve got so many more, such a greater
presence in that area because I put out all
these open house signs. – [Lori] So about how
many open house signs per open house? – [Dan] At least eight, probably with, oftentimes, yeah, oftentimes 10 to 12. – [Lori] Okay, yeah. I think we used to put up about a dozen, depending on your areas and how much opportunity you have
to put up those signs. And then when do those go up? – [Dan] So the rider on
the sign in the yard, or the open house sign we’re gonna put in the yard of the house itself goes up a week in advance. So we get that out as soon as possible. – [Lori] You’re putting an open house sign with the information with your yard sign right there on the house. And then you’re putting out- – [Dan] We want the neighbors to know. – [Lori] Yeah, that makes sense. And then when are your
directional signs going up? – [Dan] Usually three
to four days beforehand. The major intersections, so put the major intersections’ directionals up. – [Lori] Three to four days, but what if, oh, but they say the
date and time on them, is why you can do that. – [Dan] Yeah, they say Sunday one to four. – [Lori] That’s really smart. That has gotta be helping your attendance. – [Dan] Yeah, so what
happens is that people are going to work or to the
grocery store every day, and either subliminally or whatever they’re seeing, oh, there’s
an open house there Sunday. Oh, there’s an open
house over there Sunday, oh, there’s an open
house over there Sunday. And Sunday rolls around. They’re like, “what do
you wanna do today?” “I don’t know, I think
there’s an open house “over there somewhere. “Let’s go check it out.” – [Lori] Yeah, that’s smart. Now, are you paying somebody
to put up your signs, or are you doing it yourself? – [Dan] Right now I’m
still doing it myself. However, I’m interviewing
for a buyer’s agent, as you said at the beginning, who will hopefully be doing that for me, because it’s in, I live in my farm. I literally, I can do it
on my way home from work. And Sunday morning, when
I put out my balloons, I literally get up, and I roll out of bed, I grab my coffee, I go get the balloons, and then put them out. I’m home in 10 minutes. That’s the nice thing about
farming where you live. – [Lori] Are you putting
balloons on every sign? – [Dan] Certainly the
major street directional at the major intersections,
and then on the house itself. It’s just sort of that
added, I use those foil ones that shine in the sunlight. That added, I call it cat advertising, cause you know, it’s shiny and shaky, and it catches people’s attention. – [Lori] Yeah, how much are you spending, on average, when you do an open house? How much is it costing you to do your ads, your balloons, your refreshments? – [Dan] Sure, probably probably 50 bucks total, between refreshments
and the boosted posts. And sometimes I’ll boost
it a little bit more. I’m trying to get better
with my Facebook ads as opposed to just boosted posts, cause I know there’s more value in them. I just haven’t delved
into them yet, enough. – [Lori] Yeah, maybe I’ll have to do- – [Dan] So not much. – [Lori] I’ll have to add a training video on doing Facebook ads for open houses. There’s so many great ways we can do that. All right, but it sounds
like you’re doing great, and you’re getting good traffic. You’re getting a lot of people, and you’re closing a lot
of houses from open houses. So Dan, before we have to get off here, cause we’ve gone a little bit over time, do you think this is a scalable
lead generation activity? Either farming or the open houses? Do you think it’s scalable, like- – [Dan] Farming, yeah. Farming without a doubt, because obviously you just increase
the size of your farm. And that’s what I did. I started very small, and
it’s been just growing. Every year, I just let it
grow out a little bit more, almost organically. With open houses, probably as well, if you’re doing more open houses per week, I know Chris’s team, everybody on his team is required to do 50 a year. So they’re doing open houses
every day of the week. – [Lori] That’s what I would do. If I were gonna really blow
up a physical team again, like, I’m doing my stuff on web leads. And I have a team, but
they’re just converting what I generate. I don’t really have them out generating. But if I were to blow it up and say, “you know what? “I wanna do 200 transactions
or 300 transactions.” That’s exactly what I would do. I’d build this big, bad team
of people that sit open houses. (laughs) And do it like, strategically. I wanna be in this, I
wanna be in Sumberland, and I want a sign on every
single yard every day. And that’s exactly, I think
if I were a new agent, it’s same thing. Converting web leads, sure. Generating web leads is my bag. But it takes a lot of time
or takes a lot of money, because if you’re gonna
build search engine rankings, you gotta put in some stuff. If you’re gonna buy pay-per-click, you gotta have the money to do it. If I were a brand new agent,
I would say, “you know what? “I can do my SEO, I can do my Facebook, “I can do all that stuff. “But I can do it while
sitting in an open house “and get both.” – [Dan] Exactly. – [Lori] Digital stuff,
but I’ll sit at open house. But I’m gonna do it
strategically and purposely, and I’m gonna advertise it, and I’m gonna put out tons of signs, and I’m gonna have a method to the madness and make sure that I’m
getting as much as I can. I’m not just gonna throw up a sign and go sit in a yard like
I see so many agents do. I’m gonna be purposeful about it and really work it, which
is exactly what you’ve done, which is why you’ve got my attention because you’re doing it
very, very purposefully and strategically. And you’re one that
actually has the conversions and the sales to prove it. So what advice would you give to anybody who wants to follow in your footsteps in the open houses? – [Dan] Sure, I would
say follow the system. It’s all about the leading up to it. Look at Shift. Look at that seventh level
open houses marketing system. And really, that week
leading up to the open house, that’s your job. Every phone call you make,
every email you send, every text you send, every
Facebook post you do, mention the open house. And for a brand new agent,
find a vacant house, go there with your laptop
and your hotspot every day, and make that your office. – [Lori] Yeah, love it. Absolutely love it. What I would ask you to do, Dan, for me, and since I’m gonna be putting this in our blog, as well, I do a full writeup and a transcription and
captions and all that, I would love it if you
could send me a picture of your open house sign,
as simple as it is. – [Dan] Sure. – [Lori] But maybe if you’ve got one of the house sign that
has the rider on it, but at least the ones that
go in the corner sections. And just whenever you do
your next open house is fine. No hurry. And then I would love
it, also, to get, huh? – [Dan] I’ve got them. They’re included in the
slideshow, in the PowerPoint that I do for my class. So I’ve got pictures of all my signs. – [Lori] Oh, perfect. – [Dan] And I’ve got pictures
of the seventh level. – [Lori] Yeah, anything like that that you can send me
that I can give people visuals of, this is what it looks like, cause I think that’s
very helpful for people. So all right. So I will put your contact information and everything in the writeup. If anybody wants to send
you a real estate referral, I’m sure you would appreciate that. And you’re at
DanKenneyHomes.com, seven, zero, oops, I need my glasses, 708-629-6452. And you’re at [email protected] Anything else they need to
know about contacting you? – [Dan] That’s perfect. – [Lori] All right, Dan. That was very, very informational. I really appreciate you being patient and helping me break that down for people that they can learn from the best. You learned from Chris, and
people can learn from you. And that’s how this whole chain works, especially at Keller Williams, with the training that we have here. So thank you for your time. I appreciate it. And I look forward to seeing you in the, are you gonna be at the
Keller Williams Convention? Family reunion? – [Dan] Absolutely, yeah. Yeah, I’ll see you in Anaheim. – [Lori] All right, I
will see you in Anaheim. Thank you for spending
your time with me today. – [Dan] Thank you, it
was a pleasure, Lori. – [Lori] All right, talk to you later. Bye. – [Dan] All right, bye bye.

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