Client Events For Realtors: Made Easy
Ideas For Real Estate Agent Client Events
Client events were never my thing. Don't get me wrong, this was not out of neglect. In fact, each year, I had multiple events scheduled in my business plan for the year. I comforted myself with common excuses as to why the events didn't work the year before: I was busy, I did not have enough clients, concerned about budget constraints, the year got away from me, and I didn't have my CRM organized enough to know who to invite.
I never missed a year when planning, but my completion rate versus my goal was 1/5. As I progressed in my career, I learned that if my actions don't match my intention, there is a wall in my way. Usually, this wall is all in my mind, but aren't those the hardest walls to climb?
It's time we re-image the client event in real estate. We must make it more achievable, less stress-inducing, and more consistent. But before we jump into the fresh approach to real estate agent-hosted events, let's pull back the curtains on why these events can improve our career trajectory.
Should I Host Client Events in Real Estate?
Fair question. There are various ways to nurture existing relationships and connect with our database. So let's look at the most common methods in terms of effectiveness, effort, and scalability.
Phone calls: Effective, but the number of people who want to talk on the phone is deteriorating. Still, it requires effort to overcome the discomfort of calling our clients and lacks scalability.
Text/Email: Low effort, but we miss one of the most important elements of human interaction - the voice. This dampens effectiveness. Further, we can scale email easily with email newsletters and CRMs, but the effectiveness drops considerably if it isn't 1:1.
Social Media: Seemingly low effort, but social media is a sly tool. Keep our time focused, and it's wonderful; let our focus wane, and it harms our production. It also assumes our clients are all using the platform where we are most active—a strong option, but there are still some holes in this solution.
Handwritten Cards: Highly effective and low to medium effort. This is another winning option, but it falls flat when it comes to scalability.
Lunches/Coffees: Similar to cards, these are effective but move more into the higher effort categories and are not scalable.
So what about events? Well, they are proven effective, given that it's one of the few ways we can get face-to-face with our database, and it's inherently scalable.
But there's a problem, isn't there? What about effort? Effort and anxiety are two major blockers for agents, and understandably so. However, not to worry — The 2-Hour Cocktail Party (detailed below) will change how you think about client events.
Regardless of your annual follow-up structure, you must regularly be in touch with your database. Whether you follow a 33 Touch Plan or go through the Rev Sprint and learn our 6-point annual follow-up plan, at the heart of all of this is staying in touch.
Why Do Most Agents Not Host Events?
Our research points to 3 reasons most agents avoid client events: expensive, complicated, and anxiety.
When looking up ideas for your client event, you will see ideas like catered meals, renting out large spaces, and pricy gifts. I've hosted events that ran me well over $10,000. As the budget rises, shrewd agents question the effectiveness. If you spend $10,000 on any marketing initiative, you need that to produce a positive ROI. I also struggled with hosting a lavish party and being concerned that my clients would view this as excessive.
With this expense came the event logistics and details. Could you imagine hosting a catered BBQ for all your clients but running out of food? Or noticing that rain is in the forecast for your event? Most real estate agent-hosted events are too complex, too expensive, or a dangerous combination of both—no wonder we shy away from these powerful means of connecting with our database.
But the most ubiquitous blocker wasn't the cost or logistics; it was anxiety. That cloud and voice in our head whispers the event will be poorly received, you'll have a dismal turnout, or your guests will be bored. Regardless of the event, hosting an event will push you out of your comfort zone, but isn't that where growth occurs?
When we do things other agents won't, we enjoy production that other agents won't.
We all know we "should" be hosting events, but neglecting the event and alleviating the anxiety is more valuable to us than increased production. If production were more important, we'd host the event.
Is it that simple? Is it just a matter of sucking it up and hosting the event? Not exactly. The reason for our anxiety and resistance is the fear that no one will show up and the event will be a flop. If you knew with 100% confidence that the event would be one of the most enjoyable nights for your guests, you'd be tempted to host these constantly.
So, how can we quiet the anxiety with a proven event model, minimal logistics, and a clear framework? We can use the 2-Hour Cocktail Party Formula.
What is the 2-Hour Cocktail Party?
This is a clever event structure developed by entrepreneur, speaker, and author, Nick Gray. Nick developed this formula when he lived in New York and needed to connect with people in the city he desired.
Nick wanted a low-pressure method to connect with people in his network. He tried various approaches, such as networking events, dinner parties, and traditional gatherings, but found there were issues with each.
Networking events felt cheesy and forced. They were transactional and didn't lead to the deep personal relationships he was seeking.
Dinner parties were too complicated and forced people to favor talking to those seated in their area, not to mention they were expensive and a pile of work when it came to cleaning up.
Traditional gatherings were great but infrequent and equally as complicated. Many options arise around the holidays, but what about a random Tuesday night in May? Nick needed a more repeatable approach.
Meet The 2-Hour Cocktail Party
Nick's cocktail party is precisely 2 hours and is hosted in his house for approximately 15-20 people. And all these details matter.
The 2-hour structure ensures your guests arrive on time and has a firm ending time. You may initially feel like the end time isn't necessary, but it's a lifesaver for your guests (and you). After about 2 hours, most guests are ready to get on with their evening. Often guests linger only because they don't want to be the first to leave. The 2-hour time limit is freeing for all. Not to mention, your show-up rate will be much higher as people clearly understand the length of an event. Drop by between 12:00 PM and 9:00 PM seems like you're just being flexible, but it's uncomfortable for guests. Should I arrive at 12:00 PM or 4:00 PM once the event is underway? Not to mention, you have a higher likelihood of the event seeming quiet when you open it up to these prolonged periods, and your stress will rise.
The event is hosted in your house for one crucial reason: it's more friendly and personal. Hosting this at a venue can scream networking event, or it becomes expensive. Even if you don't think your house is a good representation of your business, your clients, neighbors, and contacts will feel more drawn to you personally when they've been in your house. Usually, only friends and family enter our homes. As such, anyone entering your house feels like a friend. In real estate, the strength of our personal relationships is the key to our success.
Further, we want to keep the event to 15-20 people. This gives you a chance to speak with most of your guests, and they all feel important. This isn't a 200-person event where the host is nowhere to be seen. 15-20 People feels like a group of friends getting together for a fun evening. Suppose you're concerned that certain clients will feel left out if you don't invite them, not to worry. Nick says the real magic of his formula is making a habit out of events. He's events are so simple and enjoyable that you can easily host these once a month or quarter to ensure your whole database has an opportunity to attend.
The Framework
The framework is my favorite part of The 2-Hour Cocktail Party. The exact structure is provided, resulting in the guesswork evaporating and, with it, the anxiety that it will not be well organized.
N: Name tags - Name tags are the great equalizer. They let everyone know there is no "in" group and facilitate conversations. As your guests arrive, ask them all to use a name tag.
I: Icebreakers - During your event, you will ask 2 icebreakers. These get the conversation going and end conversations that are petering out (equally as important, if not more). This concept was the hardest for me to wrap my end around, and here is Nick's thinking around icebreakers. Looking for even more icebreaker activities? Here are 100 options for you.
C: Cocktails only - Resist the urge to cook, bring food or make this a dinner party. This is a 2-hour event and cocktails for all people to mingle. Small appetizers are permitted but stick with cocktails (alcoholic and non-alcoholic options). Cocktails are manageable and allow people to mingle.
K: Kick them out - At the 1:45 mark, thank everyone for coming. It seems rude, but people love this! It gives them the freedom to continue with their evening and prevents them from feeling trapped or awkward about leaving.
Additional Tips and Modifications
Use Nicks's reminder system to avoid no-shows and increase engagement at the event.
Adjust the event to have The-2 Hour Cocktail Party with kids.
Use guest bios to facilitate exciting conversations at the event (these don't need to be long or complex)
Important: Your cocktail party doesn't even need to have alcohol at all. Nell on YouTube had this comment shortly after we posted this episode.
Conclusion
Client events are highly scalable and effective in helping us increase contacts and nurture. However, the challenges we face are complexity, concerns about length, logistics, and anxiety about the event. The 2-Hour Cocktail Party is a simple and proven approach to client events that ensures your guests have a great time while saving your time, money, and concern that the event will flop. Put this structure to work in your business today.
Great links to learn more about Nick and The 2-Hour Cocktail Party
The 2-Hour Cocktail Party: Book info
The 2-Hour Cocktail Party: Amazon
How to Host a Party at Home with Kids