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In 11 years, I have sold 3 homes to people who came to an open house. We owe it to our clients to try all the tricks of the trade.
Angela & Stephen Hardi...
A good opportunity to network and may draw a little extra attention to a unique home.
Debbie - Our broker open house tours usually consists of around 10 homes, so we are together all morning, and then lunch is sometimes served at the final home - depending on what broker tour I attend. On several occasions I have had other agents tell me that my listing was great, and that they could have an interested buyer, but have never actually received an offer.
However, the tours are a great way to see what other agents have to say about your listing (recommendations, etc), an opportunity to see the inventory of homes for sale, and a great networking opportunity with your peers.
Yes I have had atendee's at mine and I have been to several.
Not for me yet, but that will not keep me from holding them to increase the visability for my clients, though.
Well we have a property tour once a week. So new listings are usually on the tour and seen then. Although I will go to a broker open. It's usually for the food, though. (Hey I'm just being honest and everyone likes a free lunch.)
Broker open houses are a good way for all to see local inventory without having to schedule a preview, which homeowners don't always appreciate.
Yes, but not necessarily selling the home in question. It remains a great way to sample the inventory and network with fellow agents.
Yes Debbie. I preview homes that my clients are looking for on Brokers Open day which is Tuesday AM in my area. I already know about the property before taking them to see it. The listing broker is there so if there are questions they can be answered and I look like a champ when I finally get my client in there for a showing.
I think the value is in building relationships and networking. You want other agents to be anxious to work with you.
I have had luck with them but most agents don't want to participate. I find 3-4 homes participating works best.
More than anything else, a Broker Open House is a good opportunity to get to know the other agents in the community.
While it may not produce a sale of the property at hand, fostering strong relationships with other agents will help transactions go smoother, which is generally good for everyone.
Debbie Reynolds if someone is looking at networking, yes - this is good. Way back, I had attended on BOH - and liked the home for my buyer - it was when we used to have few pictures with description only. Now-a-days, every minute, there is a Broker's Open House- online!
It really depends on the brokers. I have gone to brokers open houses and I have seen agents talking to the listing broker and scheduling showings. It all depends on the community of agents. Regardless, it is a good practice to know the inventory. A
I have attending countless broker opens of homes that I've staged. From the outside looking in, I see the same agents with no real agenda for their list of buyers. However, I've been there for many that have had great success if promoted correctly. Even if it means networking and talking about other homes.
For agents, keep up with inventory and how sellers are putting their best foot forward with a quality product to sell, keeps them at the top of the game.
It works well with my new constrcution homes, but not so well on re-sale listings. Seems like the same people always come but it is a good excuse to eat and socialize
So far, nothing tangible regarding Brokers Opens.
However, it does demonstrate to the homeowner their agent has real traction in the real estate community.
This also encourages camaraderie with fellow agents and a moment to share insight, gossip or information about new properties.
What I have found that works really well it to add a rider to the top of the "Open House- OPEN NOW" sign that reads "FREE Lunch" or "Have lunch with me." The closer the location to white collar/ technical centers the better the outcome.