Hey Amy, the one real question you didn't answer is this....is it working?  If so, keep up the "good host" activities, but if you're not seeing results, why continue to throw good money after bad.  We have hundreds of open houses in my area every weekend and I know many of the agents holding them.  When I ask them, "When was the last time you sold a house because of your open house," even veteran agents can't remember, yet they hold open houses weekend after weekend because they don't have the guts to tell their sellers the truth...there is less than 3% chance of ever selling a house this way.  I would hire someone to hold open houses every weekend if it worked, but it doesn't in our market so I don't do them.  If your broker tours are just social events, consider other types of networking events to invest in.  If the tours are working, make yours the best show every time and you'll be remembered and so will your house.   

I really appreciate Guy's comments.  In my area, Ann Arbor, open houses, newspaper ads, and broker opens, even with food, rarely draw anyone and practically NEVER sell a house.  I sold one that way and it was someone who was stalking the VERY small neighborhood and it was a very pristine bank-owned besides.  If it is a really desirable place, for instance a historic home where they rarely come on the market, AND it is priced right, we'll get visitors.  On the other extreme, the very, very high priced properties will get visitors for curiousity.  I attended one recently because it was a unique staging company doing the open and the staging, with a fabulous lunch - what's not to love about that?  It was under contract.  Nice of them to carry on but again, advertising for them - their work works.  They did a fabulous job with the staging but the open house only reacquainted me with them and fed me a really, really fine lunch.  I'll go to all their opens if they fall at lunch time and convenient but I probably won't sell that particular house.  Not that I won't try.

I wish I could sample some of that tortilla soup...

Guy, Susan and Audrey Thank you for taking the time to comment. I appreciate it!

Guy, My accountability partner (Tina Lemmond, she has blogged about it) has had good success with weekend open houses. She is getting buyer clients, doing what she can do to have her listings seen. I am very blunt with owners about the odds of getting a buyer from an open house. I tell them the same thing about print advertising, both are done mainly to advertise the agent. The broker tours are worth it for me. As with so many other things, it's what you do with the opportunity. It is another reason to send an email or call to have your listing in the front of the other agents mind. It is good networking. The neighbors see that you are working hard to sell the house.

Susan, I did sell a condo as a result of one. A neighbor was interested for her sister. When she saw all of the agents there, she called her sister and they wrote a contract that day! This house is in a great location, and in a good price point. I want to do everything I can to get the word out that it's available.

Audrey, I wish you could come! Hopefully, others in my area will want some.

I have had some emails back from agents who received the invitation. The response has been positive. 

Thanks again for taking the time to comment!

Amy, I always hold a broker's open for my listings unless it's just a plain old dog (LOL) and if the property is properly prepared and priced (that's a lot of p's) it can help generate showings after the fact by agents who were in attendance.  I have an agent who fell in love with one of my listings and continues to show it to every single buyer she gets in that price range.  It hasn't sold yet, but my bet is on her to do it!

the reason most agents hold open houses is A. the seller wants it vut B. you pick up buyers now ask any agent when is the last time you picked up a buyer from an open house and most likely the answer should be last week..... as for a brokers open I am doing 1 right now so yes we do them and a few agents stopped by and yes there is food.

Lisa, He He- Instead of the old classic three R's in school, now we have "properly prepared and priced"! You are so clever. We had twenty agents come through. Sometimes when we team up with other homes in a neighborhood we have high attendance. This was the only one in the neighborhood. We were Very happy with the turnout.

Just listed it yesterday. We are expecting an offer today!! Another agent and her client were also very interested.

What a Great Day!

Hi John, Thank you for stopping by and commenting. The soup was a hit. We ran out! In my invitation email, I put a disclaimer at the bottom- The soup is good. It may run out. You should come to this open house first, Then the regular legalities.

It is hard to get other brokers to come see your listings, after they are done with there own day, but it does conjure up the scene from the wizard of OZ, when the Good Witch sings to the munchkins come out come out.. it takes some doing even thought we all know the bad old witch is dead after all she got hit with a house, maybe the good witch should have use a bowl of soup. Keep doing what your doing if it's working

I would love to be able to do this. Our area has completely stopped doing tours for new listings. I miss them, and I think the tours were of value. gOOD LUCK WITH YOURS.

I am glad that you are doing something to create activity... it is better than those sitting next to the phone waiting for it to ring        

These tours are great for getting to know whats on the market. The feedback from other agents helps with sellers hearing the consistency of staging or price issues.

Bonner

Steve, You are Funny! I see that one of your groups is AR comedy club. Feel free to comment on my posts anytime. Off to see the wizard Ha ha

Leslie, Maybe others are wishing tours would come back. Talk to some other agents you know and get one started!

Naoma, Thanks for the encouraging words. We are doing everything we can to get listings sold. We're trying new things and tweaking old methods to work better. I'm posting the listing we're discussing on my blog in a few minutes. http://LewisburgHome.info

Bonner, The tours are a convenient way to preview areas and know your inventory. I with we could have "pre-listing' tours, to help some sellers understand those issues.

Thanks so mush for taking the time to read my post- and to contribute your thoughts. I appreciate it.

Amy, some agents in our area do broker opens. I cannot seem to make myself do one because it seems so random to catch busy people at a specific day and time, when they can get the same information in their internet searches. Many broker opens in my area also include drawings for cash and prizes to boost attendance. I do offer to do them, it is the client's decision. I attend Broker opens as I have time and do not need incentive other than knowing more about the market.

I encourage my sellers to offer a bonus to REALTORS who preview the home prior to bringing a potential buyer.