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Broker Open Houses - Do you or Don't You?

By Joan & Greg Cook

Real Estate Agent with The Cook Team at Keller Williams Partners Realty

October 06, 2006 01:27 AM

In my changing market I've gone back to the practice of holding Brokers Opens to introduce my listings to the agent community, and to Introduce myself to the agents in the community that I do not know.

My reasoning is the following...

I feel that agents will more likely show a house they are familiar with.

I feel that agents when they have a choice would prefer to work with an agent they know or have met versus a stranger.

So far I have not had the turnout on these Broker Opens I would like. I attribute it to the newer agents not being familiar with the benefits of previewing property and/or laziness.

I'd like to know...

Do you do Brokers Opens?

If not, why?

If so, what results are you getting, what do you find works for you?

What are your opinions on why more agents don't attend Brokers Opens?

Thanks!

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Scott Gormley

Oak Valley Mortgage-California Home Loans and Refinancing - Chico, CA

Gas prices could be hurting. Virtual Tours are moving us into the future of Real Estate. You don't have food or baked cookies or raffles....That could be a few reasons :)

Scott

Oct 06, 2006 01:41 AM

Tori Stamps

Stamps Realty - Franklin, TN

MA JD - Broker/Owner Franklin TN Homes for Sale

I don't go or hold them. If there's a house one of my clients might be interested in, I preview it on my own time. If not, I'm not going to waste my time driving from broker showing to broker showing. We've got pictures in the MLS, virtual tours, individual websites, etc. to show us the house. My time is better spent.

As for my not holding them - the agents that DO have the clients to show my homes to don't have time to go to previews. They're working. I've found that the agents that do show up are the agents with no clients who need to eat. :o) IMO, they should be working on finding clients instead of previewing houses they have no way of selling.

*edited because I evidentially can't type this morning. Sorry!

Oct 06, 2006 03:17 AM

Derek and Mariana Wagner

The Artisan Group- Keller Williams Premier Realty - Colorado Springs, CO

The Artisan Group - Colorado Springs REALTORS®

Ok. We do not hold Broker Opens for the main reason that no one ever shows up. We have even had a full-catered event and only 2 agents showed up. And we all know how much agents like free food... I think that it is a waste of time and money.

Maybe there could be a selling incentive ($500 bonus) to any agent who attended your Broker Open and sold the home?? Just an idea.

Oct 06, 2006 04:15 AM

Peter Andres - Lic. in FL & NY GRI,SRES,CNE

REALTOR - The Villages, FL

I prefer a Broker open house rather than a Public open house. Statistics show less than 5% of public visitors to the house will make an offer on the house. On the other hand, Brokers who work the area with buyers want to be more familiar with the inventory to show their buyers. I also get the business cards and put them in my database for further contact.

Oct 06, 2006 12:28 PM

Jodi Kevern

Arizona Focus Realty - Gilbert, AZ

I have never had one but am thinking about adding it to my marketing strategy. I think that agents are so busy looking at homes their clients already identified that they may not want to "waste" time. But what about doing a broker open for your own brokerage? Instead of a tour, have 1 or 2 close by homes do a broker open then get visibility by everyone in your office and get valuable feedback regarding price/etc.

Apr 03, 2007 06:14 PM

Broker Open Houses - Do you or Don't You?

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