Dear Realtor,

We all know that most realtors host broker open houses and even public open houses but have you ever thought about inviting a mortgage professional to stand beside you?  Take a look at this list and you decide on if it makes sense to invite a loan officer to your next open house.  I will now share the top 5 realtor advantages of having a mortgage professional with you during an open house (Not in any specific order).

 1 - Save Money: Yes, save money!  Do you spend money on fliers, brochures, advertising, catering, etc.?  Well how about you share that cost with the mortgage professional that will co-host the open house with you?  Most mortgage professionals are willing to split the cost of doing an open house with a realtor or a broker.  They enjoy meeting other realtors, broker and possible homebuyers who walk through your open house.  Remember, that mortgage professionals are looking for new business as much as you are so why not make it a team effort.

 2 - Support: Yes, support!  Do you ever find yourself in a situation where you are not at the front door greeting the next open house attendee?  Are you showing the basement of the home or the upstairs of the home already to a family or are you busy outside on the deck talking on the phone with another client or an important personal call?  Why not have a mortgage professional there to assist you in greeting the next realtor/broker/consumer that arrives at your open house.  They can say hello and have them sign the sign in sheet and hand out your brochures that you made exclusively for this open house.

 3 - Make Time Go By Faster: Yes, make it fun!  Make the time go by faster.  Is it really fun to just stand or sit during an open house by yourself if you don't have a radio on, a tv on or your wireless laptop?  Having a mortgage professional of your choice at your open house would engage you both to conversate with one another and learn more about each other and more about the real estate business.  You will enhance your business relationship and become better friends and business partners.  Time goes by faster when there is 2 people.

 4 - Mortgage Questions: You know that when an interested broker/realtor sees a property that they like that they are curious to know what the total mortgage payments are on a monthly basis so that they can make a decision on if it is a proper fit for a buyer they are working with.  Interested buyers might want to know if the home is in their price range.  Having a mortgage professional there to answer all of their questions and concerns helps out, doesn't it?  Make an impression on the broker/realtor/consumer and prove to them that you are always ready to answer all of the questions related to this home.  The mortgage professional usually makes his own brochures with different mortgage products and different monthly mortgage payments for brokers/realtors/consumers to view easily at their fingertips.

 5 - MLS Upgraded Listing: That's right, upgrade your MLS listing by stating that it is a Broker Open House and that there will be food at the open house.  If there are 40 open houses on a certain day in your town/city, then brokers/realtors don't have enough time or gas money to visit all of them but when they see that there is an open house with food/refreshments catered by a lender, then they will definitely try to visit.  They might not have a buyer for the home you are having an open house for but they might come across one later that day or the next day and in the back of their mind, they will remember your open house.

I hope you enjoyed reading this blog that was geared to helping out Realtors and Mortgage Professionals.

Thanks for reading my blog today and I look forward to your comments.

 

Your Mortgage Professional that can do loans in all 50 States,

Nima Rezvan

Home Loan Consultant

203.913.6016

http://www.mynima.com/

Co-hosting Connecticut (CT) open houses in Greenwich, Old Greenwich, Cos Cob, Stamford, North Stamford, Glenwood, Darien, New Canaan, Norwalk, Westport, Southport, Fairfield, Greenfield Hills, Bridgeport, Stratford, Shelton, Trumbull, Monroe, Wilton, Weston, Easton, Redding and even towns in New Haven County. 

 

19 Comments on 5 Reasons why realtors should co-host open houses with a mortgage professional

DEC
21
2006
When I sit open houses(I let my assts. do it now), I believe its a win win win situation having the mortgage professional present.  With so many RE agents and Mtg. brokers out there, it's a no brainer to match up and work together. Unfortunately, there are a lot of RE agents that don't take advantage of an O/H by not providing professional mtg. assistance. There are also alot of Mtg. brokers that want the business but won't help out at an open house.
9:33am • #1
15 Featured Posts

Nima,

Right on!  Too many real estate agents think they need to do it alone in my market.  Even crazier is that few real estate agents in Utah county even have open houses.  Salt Lake's market is actually more open to open houses, but you rarely to never see an open house with a mortgage guy present.  When we had a for sale by owner program running a few years ago, I'd always attend any open houses, the seller loved it and it also helped me secure future deals with the sellers.  They really know you care if you willing to spend your TIME and not just your money.

Karl

9:38am • #2
5 Featured Posts

Nima;

Great post. Working together always makes it better. 

11:33am • #3
6 Featured Posts

I had a very top-level Realtor with Keller Williams tell me the other day she encourages her female agents to have another agent, spouse or mortgage lender sit open-houses with them for safety reasons. You may or may not have heard about the DR Horton sales agent who was murdered in a model home a few months ago in the Dallas area. Yet a #6 to put on the list perhaps.

Ken Stampe

Bank of America Mortgage Lending

http://blog.homeloandfw.com

11:14pm • #4
FEB
18
2007
220,152 Points 5 Featured Posts Outside Blog
Great idea, for support, safety and extra services.
5:38pm • #5
Cross marketing and saving money is a good thing!
9:44pm • #6
MAY
29
2007
I fail to understand why people think "female agents" are the only people in danger.  We just had a male agent shot to death in the basement of a vacant listing last week here in Maryland.  Don't assume because you're a man that you're safe in an open house.
12:33pm • #7
344,570 Points 11 Featured Posts Outside Blog
Gregory, oh my goodness!  Are you serious?  What happened?  Why?  Well, having a mentally sick client walk through an open house and snap for no reason I guess can happen to anyone.  That is just so sad to hear.  I always wondered if anything horrible ever happened at open houses!  That is terrible.
3:26pm • #8
I have done it in the past but lately mortgage brokers in my area aren't into it.  I have had them offer to make the flyers and stuff but that is about it..
8:41pm • #9
344,570 Points 11 Featured Posts Outside Blog

Debbie Fleming: I am going to mapquest your town/city to me and see how far you are from me.  Let's do one together maybe, if you are close by.  Then we can both BLOG about it on here as well and share the experience with everyone in our community.

You are about 110 miles away from me.  Hmmmm.. It would be the furthest I've gone for an open house.  Let me know if you want to do one together.  I am willing to do it.

11:08pm • #10
MAY
30
2007

Oh Darn Debbie I'm in Michigan and I'd love to do the open houses agents here just are not into it.   

 

PS Any one lurking in the mid michigan area give me a call. :) 

 

Angela Harrington  Loan Officer PCM Mortgage Solutions  

11:31am • #11

Your Mortgage Professional that can do loans in all 50 States,

....Now THAT would be the furthest anyone will go for an open house!!

:-)

10:11pm • #12
MAY
31
2007

I host open houses for brokers all the time

 

both public and broker open houses

 

Every realtor i have done this for loves having me there.

 

I try not to be pushy. I let the realtor do his/her thing and when they intro me thats when i speak.

 

at broker open houses i have met many other contacts/new brokers who like what i have to say and now want to use me for their open houses and i have made many clients from the public ones.

 

Its win/win. I get a deal and broker gets a client to sell that house to or at least show others to.

 

I bring my own flyers to the open house based on diff mtg scenarios for that specific house. These flyers go a long way and do alot of the speaking for me

 

DOMINICK GACCINO

First Suffolk Mortgage Corp

914-391-2388

www.dgaccinohomeloans.com

8:13am • #13
JUN
01
2007

Yes, I agree with especially the safety issue as others have pointed out.
It's best to have two people at the Open House House and what a great combination to have a lender to answer the tough questions.

Thanks,
Dan Grammatica
Selling Homes, Condos, Land, Commercial, Investment, New Houses, Lots, Acreage and Multi Family. Serving the CT towns of Torrington, Harwinton, Goshen, New Hartford, Winsted, Barkhamsted, Burlington, Canton, Winchester, Litchfield, Thomaston. Search CT homes at http://realestatetorrington.com/

 

9:25am • #14
Great post. All valid reasons to partner and help each others business grow (and remain safe).
9:57am • #15
Great post, I would of never thought of this.  It would be something new to do in our area.  What a great idea.  Love It!!  I wonder would I have to check with my Broker to see if they allow it or can I just do it?
11:19am • #16

I agree, the team work is great and it sometimes turns into profitable open houses versus not.

Dave

6:59pm • #17
JUL
14
2007

i had a couple of open houses with a mortgage person in a new development i thought it worked out pretty good and he did help w/flyers ect but i have brought this up to several other mortgage people and recieved no interest i don't know why maybe because it was not a new development of 10-20 new homes it was not worth it to them

5:51am • #18
SEP
05
2007

Great Post!  I would love to find a mortgage person that would sit at some open houses with me in the Farmington Valley area here in Hartford County.  Let me know if you know of anyone.

Duane Mason

Keller Willaims Realty, Farmington Valley

8:03pm • #19

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Rainmaker_large

Nima Rezvan First Time Home Buyer Expert CT FHA Loans - FHA 203k - CT Mortgage

Stamford, CT

More about me…

LADD Financial

Address: 5 Sylvan Road South, Westport, CT, 06880

Office Phone: (203) 913-6016

Cell Phone: (203) 913-6016

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