Don’t be the Little Orphan Annie of the Broker Open House World
The broker open house for many listing agents is a great way to get their newly listed property out there to the real estate world. We all know the importance of having other agents see the property to increase the chance to match up the perfect buyer and the perfect home. From my experience over the past couple of years is that the main draw to the broker open house seems to be the lunch. Usually the listing agent will call upon their loan officer to orchestrate the lunch menu and pay for the food. We loan officers, being the suckers that we are for the attention of Realtors, we get the best sandwiches and salads hoping to make a good impression with the local agents.
Now let’s thing about that; I’m hoping that my lunch will impress the agents and perhaps I can build up my referral base.
After dropping some nice coin on a few of these events and getting nothing but a large trash bag to bring home I started to re-think my strategy. I was beginning to feel like the exploited little Orphan Annie and the agents were all Mrs. Hannigans. Let’s get this mortgage bozo for our broker open house he brings the best food. So I changed some things up.
The Open House is About the Property but I can Share the Spotlight
Don’t bring a heavy lunch: Heavy food makes agents tired and less willing to talk
Bring marketing material: Show the agents the wide range of mortgage products you offer
Set up a seminar: Educating agents about different types of renovation loans can increase their presence in the market place and their bottom line
Dress appropriately: I don’t need the suspenders and three piece suit if it’s a $150,000 listing
Ask to help: I love to ask agents “how can I add value to your business” bring something else to the table then just a great lunch
I have been utilizing some of these tactics for the open houses and it seems to be helping me cultivate some new relationships. Regardless of the lunch bill it’s such a great opportunity to have some many agents in one place. I now consider the lunch an investment in my professional development instead of an attempt to make a great culinary impression.