- 07
- Apr 09
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Speak Up Too!
The 56-Hour Open House
Innovative Open House for Foreclosures
I’ll admit, when I first heard of Jim Mazziotti’s crazy idea to hold an open house on live streaming video for 56 hours straight, I thought, “Big deal, who wants to watch some guy working on his computer for 56 hours straight?” Then, I talked to Mazziotti, broker of EXIT Realty Bend in Bend, Ore., and realized it really was a creative promotion.
That’s because Mazziotti, inspired by a Canadian real estate agent named Kye Grace, did more than just video himself working at one of his listings. He put on an educational performance complete with speakers, entertainment and a variety of interesting interactions with viewers and open-house attendees.
And, his promotion worked—he got two offers on the open house, both from people who visited the house during his live open. In addition, he had 200 people walk through the house and about 2000 people at one time or another watching him on streaming video.
“Our company focuses on bank-owned properties and our market is tough. So, rather than hold a standard open house, I decided to do something different to garner attention for our listings and our firm,” he says.
Mazziotti chose a 3,000 sq. ft., bank-owned property in a “great location that gets a lot of traffic. It was priced at $419,900 in March 2007, down from a high of $850,000 at the height of the market, so it was a great buy,” he says. “But, the idea wasn’t to sell this house, it was to build name recognition and our contact pipeline.”
Dubbed his own "Truman Show," Mazziotti used the free online video platform Ustream.tv to put his show live on the Internet. Then, he spent the better part of at least two weeks organizing speakers and entertainment, putting together a promotional packet and securing a mattress company who would donate a bed to the unfurnished home. “Our focal point was a bed in the front hallway of the home. I thought it would be a funny centerpiece,” he says.
“I submitted promotional packages to all of the local newspapers and television shows,” says Mazziotti. He also sent out e-mail blasts and promoted in on Facebook and a few other social networking sites—anywhere he could get the message out for free. The promotional package included a six-page brochure, fliers and a press release that Mazziotti designed and wrote himself in an effort to save money. Only one media outlet actually bit, a local television station. “They came out and filmed parts of the open house and put it on the news so that was great.”
Mazziotti also invited all of his sales associates to participate by putting on 15-minute presentations educating prospective buyers and sellers on short sales, buying a home and more. “I had 12 sales associates who participated, not all on camera, but in various ways,” he says. He invited local home inspectors, mortgage brokers and affiliated industry professionals to speak as well. “We had a presentation on loan packages, FHA financing, information for first-time buyers and what to expect during a home inspection,” he says.
“The best part was that anyone watching could speak to us online in real time, ask questions and get answers immediately. We had people from as far away as Australia watching. Overwhelmingly, people wanted information on short sales and foreclosures.”
Mazziotti also asked two members of EXIT Realty’s corporate team to do presentations for the sales associates about the changing technology and what to do today to prepare your business for tomorrow. “I wanted to reach out to the real estate community as well.”
To break up the educational sessions and inject a little fun into the open house, Mazziotti had a local jazz musician put on a concert.
Overall, Mazziotti dubs the event time consuming but well worth it. “It was cheap, the entire event cost only $700, but it gave us a wealth of prospects, publicity and community recognition.”
Interested in getting more information on how Mazziotti pulled off his 56-hour open house? Visit his Web site at www.Exit56HourOpenHouse.com.
That’s because Mazziotti, inspired by a Canadian real estate agent named Kye Grace, did more than just video himself working at one of his listings. He put on an educational performance complete with speakers, entertainment and a variety of interesting interactions with viewers and open-house attendees.
And, his promotion worked—he got two offers on the open house, both from people who visited the house during his live open. In addition, he had 200 people walk through the house and about 2000 people at one time or another watching him on streaming video.
“Our company focuses on bank-owned properties and our market is tough. So, rather than hold a standard open house, I decided to do something different to garner attention for our listings and our firm,” he says.
Mazziotti chose a 3,000 sq. ft., bank-owned property in a “great location that gets a lot of traffic. It was priced at $419,900 in March 2007, down from a high of $850,000 at the height of the market, so it was a great buy,” he says. “But, the idea wasn’t to sell this house, it was to build name recognition and our contact pipeline.”
Dubbed his own "Truman Show," Mazziotti used the free online video platform Ustream.tv to put his show live on the Internet. Then, he spent the better part of at least two weeks organizing speakers and entertainment, putting together a promotional packet and securing a mattress company who would donate a bed to the unfurnished home. “Our focal point was a bed in the front hallway of the home. I thought it would be a funny centerpiece,” he says.
“I submitted promotional packages to all of the local newspapers and television shows,” says Mazziotti. He also sent out e-mail blasts and promoted in on Facebook and a few other social networking sites—anywhere he could get the message out for free. The promotional package included a six-page brochure, fliers and a press release that Mazziotti designed and wrote himself in an effort to save money. Only one media outlet actually bit, a local television station. “They came out and filmed parts of the open house and put it on the news so that was great.”
Mazziotti also invited all of his sales associates to participate by putting on 15-minute presentations educating prospective buyers and sellers on short sales, buying a home and more. “I had 12 sales associates who participated, not all on camera, but in various ways,” he says. He invited local home inspectors, mortgage brokers and affiliated industry professionals to speak as well. “We had a presentation on loan packages, FHA financing, information for first-time buyers and what to expect during a home inspection,” he says.
“The best part was that anyone watching could speak to us online in real time, ask questions and get answers immediately. We had people from as far away as Australia watching. Overwhelmingly, people wanted information on short sales and foreclosures.”
Mazziotti also asked two members of EXIT Realty’s corporate team to do presentations for the sales associates about the changing technology and what to do today to prepare your business for tomorrow. “I wanted to reach out to the real estate community as well.”
To break up the educational sessions and inject a little fun into the open house, Mazziotti had a local jazz musician put on a concert.
Overall, Mazziotti dubs the event time consuming but well worth it. “It was cheap, the entire event cost only $700, but it gave us a wealth of prospects, publicity and community recognition.”
Interested in getting more information on how Mazziotti pulled off his 56-hour open house? Visit his Web site at www.Exit56HourOpenHouse.com.
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Comments [10]
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July 25, 2009 2:08pm MST
tommy
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... Read all 10 comments ...
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April 7, 2009 7:53am MST
EXIT Innovation Again!
Jim showed some real creativity and initiative putting this event together. We were pleased at EXIT Realty Corp. International to blog about his efforts and promote them through out company intranet. Way to go, Jim!
Rian Palfrey - The Listing Agent
Prospect Mortgage Comments
Thanks so much for allowing us to participate in this event. It started the creative juices flowing for how we could even "blast educate" the public on events that are currently going on with the Mortgage Industry!
Central Oregon's Best Real Esate Resource
Wave of the Future?
It's All Good...Joann,former Iowa neighbor
Great use of time ...
Great use of time ...
A Fun Event!