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What we call "Broker Open" in Michigan

By
Real Estate Agent with Keller Williams Realty

Some agents hold "Broker Open" Houses in Ann Arbor Area of Michigan and what we mean by that is having an open house primarily for other agents from other brokerages.  We do it for our sellers.  Wanting to get exposure to a new listing and invite real estate agents who don't preview homes to see your listing, just in case they might find a buyer.

The important key to this is to put in the effort to get people to attend!   Here is my list of what it takes to make a successful broker open.  You might be able to delegate some of these tasks:

YOUR responsibilities and check list:

_____1.  Select date/time (just after the local meeting time or an afternoon 4-6)

_____2.  Check with Seller for approval on food, beverages, carpet, alcohol (ie; shoes, food types,etc.)

_____3.  Check with seller about the use of the cd player

_____4.  Include at the top of flyer the "invitation" specifics (ie; date,time raffle, MLS #, food...)

_____5.  Place on MLS Tour 1 week in advance.

_____6.  Fax flyer to all local real estate offices in your area

_____7.  Forward or cut and paste the email invitation to other local agents and brokers.

_____8.  Arrive ½ hour early for set up. 

_____9.  Place signs with balloons at all strategic locations (at least 3). They MUST say OPEN HOUSE

_____10.Please ask Sellers not to be there.  It is difficult to encourage feedback from other agents while the homeowner is present!

_____11.  Bring flyers and sign in sheet to open house along with "comments" cards

_____12.  Provide food:   

                  _____Luncheon or later: rolled sandwiches, fruit, cookies, bottled water.

 _____Morning hours: muffins, fruit, yogurt, water bottles

_____ 13. Provide all paper products:  plates, napkins, plasticware, cups.

_____ 14. Have the following all ready when others arrive:  scented candle and music.

_____ 15. Provide raffle for agent drawing.  (Optional)

_____ 16. Provide bowl for business cards as well as 3-tiered cake plates for food display and all decorations.

If you spend the money, make sure you send the energy to do it right.  Your sellers will appreciate the feedback.

Another idea about getting more people to attend your broker open is to attend other brokerage open houses as often as possible.  You do this and they will attend yours.  You might even meet your next agent with whom you negotiate for your deal. 

If you want to decide to discuss whether they are worth the effort you must first make sure you are putting in the first class effort.  If you still get no one to attend a broker open, then you know you have really evaluated it and you can speak to your sellers about why you don't do the broker open houses.

Comments (7)

Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Karen, you can call me and I'll walk you through how to add the glitter text.

I hate Open Houses, Broker or other wise, but I'm willing to try again. Mostly I have to bribe agents in my office to attend, very few Realtors from other companies attend.

Dec 30, 2007 11:25 PM
Bob Sloop, Consultant, Indianapolis, IN
RS Mortgage Consulting - Indianapolis, IN
Very good Karen, nice to see things are rolling in Ann Arbor.  Hope you have a great year, best wishes.
Dec 30, 2007 11:27 PM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
We do this very often in a couple of Mountain communities. I Think it is becoming more inportant as the price of gas is going up and this way you can see houses before carrying buyers around
Dec 30, 2007 11:27 PM
Linda Scanlan
A Fan of AR - Burleson, TX
Karen, all we have to do here in Fort Worth is mention "food" and they all show up! LOL
Dec 30, 2007 11:33 PM
Tina Merritt
Nest Realty - Blacksburg, VA
Virginia Real Estate
These have been really a bust as of late in Virginia Beach.  Seems everyone is doing them, but hardly anyone is attending.  Quite a few in new construction too.  I have to say from personal experience that they do work!  A loan officer asked me to attend a broker's open with him as a favor a few months ago (he wanted more of the listing agent's business and wanted to bring an agent for good measure).  I grudgingly went as "only" a favor since this particular house was in a cookie cutter neighborhood and my feeling was "if you have seen 1 in there, you've seen them all".  Well, this house happened to be one of a very few with deep water access and was also in great condition.  I had some clients who had mentioned to me that if I ever saw a great deal on waterfront property to let them know.  I called my clients (who were snowboarding in Colorado) and sent them the pictures and tour.  They came home from Colorado and bought it!
Dec 30, 2007 11:51 PM
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Keller Williams Realty - Ann Arbor, MI
Ann Arbor Area Real Estate
Missy,  I'll call you.  I tried to put it in but it just wouldn't work and I didn't want to loose my other graphics.  Thanks.  Yea, I understand about broker open and open houses...but I have picked up buyers at open houses.  So I do them.
Dec 30, 2007 11:51 PM
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Keller Williams Realty - Ann Arbor, MI
Ann Arbor Area Real Estate

Bob Happy New Year to you too!

Charlie  isn't that funny, so people think they aren't worth it with the price of gas, but I agree with you.

Linda,  oh I wish it were so simple here.  Food doesn't even produce people sometimes.  I think its the relationships that bring more people to your broker opens.

Tina that story is really fantastic!  I mean thats why we do it; its why you spend your time attending and look what happened you found the home for your client. 

Dec 31, 2007 12:05 AM