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Agent Open Houses - Beneficial or a Waste of Time?

By
Real Estate Agent with Platinum Realty 1999090686

I held an Agent Open House today on my listing on 6409 Lavernell Ct.  I sat there for three hours (11 -2), and did not have one single agent show up.  True, weather was pretty lousy - not cold, but rainy - we're actually under flood warnings in the St Louis area and south tonight, but I thought I would have better luck than that.  I advertised in the MLS, KWLS (Keller Williams Listing Service) and sent over 3400 email flyers to surrounding agents.  I use The Listing Widget to create and email flyers to surrounding agents.  I think it's a great program and easy to use - reasonably priced.  I use them for my address-specific web sites, and if you already have a website created for the address, they provide a discount on the email flyers.  Check them out. 

I still had no success.  I used to set up a spread of food (spent $50 to $75 worth) for only a couple of agents to show up.  So, I stopped doing that.  I now have the sellers make a pot of coffee and I bring a plate of cookies.  I usually end up leaving some for the sellers and taking the rest to my neighbor, Kim, who has a day care, for the kid's snacktime.

How do I get agents to attend the Agent Open House?  I would provide wine, but I don't want drunk agents driving away from the house.  I would also probably partake one or two glasses, and then I might as well forget about getting anything else accomplished that afternnoon...  I've considered offering a drawing for a gas/gift card... 

Do you host Agent Open Houses, and if you do, what do you do to get agents to attend?  Thanks for any and all input.

http://www.timtanzhomes.com

 

Posted by

Tim Tanz

St Louis Realtor, ABR, GRI

Notary Public - State of Missouri

St Louis Real Estate - Tim Tanz, Realtor   St Louis Real Estate - Tim Tanz, Realtor

Platinum Realty of St Louis

1034 S Brentwood Blvd, Ste 750, St Louis MO 63117

timtanzhomes.com

tim@timtanzhomes.com

314-974-4886

 

David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City

Agents prefer to sit on their butt and stare at a monitor rather than go out and become familiar with inventory. They believe that a virtual tour is the same as a physical inspection.

The turnover rate for agents in this business has been 1/3 gone in three years. I believe the internet will make this 50% in three years. The reason being agents will never know the product they are selling.

Mar 18, 2008 02:19 PM
The Entire Team of Price & Company Professionals
Price & Company Realty - Myrtle Beach, SC
Let me be clear - I am not without fault myself on this subject...  but I think I agree with David.  I have yet to have a successful showing of agents at an event I've hosted unless major food, beer or wine was served.  So many people have become dependent on their computers and the internet, they believe that's all the information they need. 
Mar 18, 2008 02:32 PM
Eric Reid
Renaissance Realty Group of Keller Williams Atlanta Partners - Lawrenceville, GA

I gave up agent open houses when I heard and agent ask another agent where we going for lunch today and the other agent replied I don't know let me check the agent open house board. I almost fell out.. the agents I want to see the house had all gone off to work with listings or buyers and the "free" agents were the only ones available to o to agent caravans. What I have done and thought work well I called all the agents with active listing and asked them to join up and do a mini agent caravan. I sell it as look if the are looking at my listing and it does not fit Mr. and Mrs. Buyer all ready like the area and the schools so we just have to get them in the right house.. and if I know about you're and you know about mine .. we double our chance of selling..

The 2nd bonus is you get to expose your listing to agents from out side your office.

Mar 18, 2008 02:32 PM
Linda Lipscomb
Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN
731-695-1118, Lexington TN Homes

Sometimes you just have to do something if a property needs a little advertising boost. Open Houses are relatively inexpensive and a good chance to meet and greet.  I find that having multiple properties in an area on tour creates more interest. 

Linda Lipscomb, Real Estate in Henderson County TN   www.lindalipscomb.com

Mar 18, 2008 02:34 PM
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Tim;

My broker open houses are always successfully. Brokers Open Houses are relatively inexpensive and a good chance to expose the property to other agents. Keep Trying.

Mar 18, 2008 02:54 PM
Jennifer Hartwick
Crane and Crane Real Estate - Columbia, MO
Many agents here offer drawings for gift certificates, etc.  It is unfortunate when you actually have to bribe other agents to preview houses.
Mar 19, 2008 10:58 AM