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Broker's Opens Don't Work!!!! Unless....

The typical broker's open houses don't work in our marketplace. If you are one of the lucky few who are in the areas of Kitsap that still do weekly tours, great, jump in and good luck. If you aren't (like us poor Bremerton folk), well, heaven help you!

But, that doesn't mean that a few agents won't show up. A few always show up, if you market the Broker's Open properly. No, food is not required, although it doesn't hurt. Perhaps a door prize? It wouldn't hurt, would be nice, but will it get more people in the door? Mmmm, probably not. Think outside the box, think bigger.

I recently had a short sale listed. Here in Kitsap County, we are just beginning to see the increase in short sales that California saw a year and a half ago. Many agents, especially the many agents who joined in the last three years, are not familiar with short sales, and are in fact quite frightened of short sales. How to get around this problem and increase traffic at my Broker's Open as well?

Offer an item of value! No, not just Starbucks....

A friend of mine who works at an escrow company came to my Broker's Open, and talked about short sales -- how they work and what we as agents could do to increase our listings and sales by using short sales. We marketed it as an information session, as well as a Broker's Open, with Starbucks, of course.

Did we see an increase in traffic? Probably. Was it because of the information session? Probably. Can I prove it? No. Would I have liked the Broker's open to be more successful than it was? Always!

With all the extra work, would I do it again? In a heartbeat! Next strange listing I have (and many of mine are), I will offer another item of value and promote the heck out of my broker's opens!

Posted by Marlene Scheffer, Realtor to Kitsap County, WA on 11/10/2007 11:41 PM

Comments (13)

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13 Comments on Broker's Opens Don't Work!!!! Unless....

Great idea...and very novel for an open house. I think I might try this and let you know how it works out.

11/11/2007 12:40 AM

by Gail Gladstone (Coldwell Banker)

Just thinking outside the box! Definitely let me know how it goes, and good luck!

11/11/2007 04:01 AM

by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)

Thanks for the post Marlene. Even broker opens are getting more competitive. One of our broker clients shared that King & Snohomish County builders are offering $5 - $20 cash for agents to tour their product. Over the course of one week agents could pocket $200 plus Starbucks cards and free lunches.

Let me know if you want to hold another info session. I can provide free evaluations of internet marketing efforts.

11/11/2007 02:46 PM

by Larry Wright (nwRealty.Com)

Thanks, Larry, I may take you up on that offer! We may be doing a broker's open in Port Orchard at the end of the month, I'll let you know.....

11/11/2007 08:37 PM

by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)

what a great idea - you are one smart cookie - good for you

11/11/2007 10:52 PM

by Central Oregon Real Estate | Thesa Chambers, Broker (RE/MAX Sunset Realty La Pine)

Very good idea! You are getting agents into your listing and you are helping your fellow agents understand our changed market, plus, a seminar to help them learn short sales! Excellent!

It's a Good Life!

11/16/2007 06:16 PM

by Frances C. Rokicki, Broker~Mentor (Fran Rokicki Realty, LLC)

Thanks, Frances, it is defenitely worth trying again a few times. Like so many other things in real estate, I think consistency is a key. If I do something like this every time I do a broker's open, then they will begin to expect it and hopefully look forward to it.

11/17/2007 12:56 AM

by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)

I couldn't agree more. That was a great idea. Good for you! Keep up the good work.

11/17/2007 06:22 AM

by Nancy Pav (Long & Foster)

Thanks, Nancy!

11/17/2007 03:43 PM

by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)

I really like that idea Marlene. I'm sure most title and mortgage reps would love to help out in this way, since they don't have the opportunity they once did to help out monetarily.

11/18/2007 01:32 PM

by Jason Mook - Puyallup Real Estate Agent (Windermere Real Estate/South Inc.)

You know, Jason, I had to ask three different title reps before I found one willing to help me with this idea. The first two waived off because they were afraid of the insurance commissioner coming after them.

Washington State title and escrow companies are under fire right now because they were giving too much to agents, and now they have gone 180 degrees the other way -- they give nothing. The insurance commissioner is crazy, and we all think he is going to run for governor and needs a feather in his cap. Unfortunately, the feather is the real estate undustry. Crazy, right?

11/19/2007 01:11 AM

by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)

Marlene, How about an attorney who knows short sale and foreclosure procedure? No conflict there! It could be informative and maybe, someone would really need his assistance.

It's a Good Life!

11/19/2007 06:12 PM

by Frances C. Rokicki, Broker~Mentor (Fran Rokicki Realty, LLC)

Good idea, Fran! Next time I do a Broker's Open on a short sale, I'm definitely going to try that one!

11/19/2007 08:30 PM

by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)

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