Does anyone really believe that Broker Open Houses have any benefit for the seller? We've has a number of them, one very recently. The attraction for the agent and broker attendees seems to be to have lunch, chat with associates and leave with a flyer or brochure.
Are they a relic of the past?
Trevor - I do not attend them and I do not have them and my business is successful. I am not sure if they ever worked nor do I know if they work now.... I am interested in finding out.
I have never seen these work in my market area. Occasionally we have a "Realtor Run" where every house that was listed in the past couple weeks is available to tour for a 2 hour period on a Thursday morning. You have to sign your listings up for this (you only get to do it once for each listing), and you have to attend - usually we get 25-30 agents carpooling to each home on the list (we meet at a coffee shop and go from there). No food, just chatting with the other area Realtors and finding out new things on the market. I would say this takes about 25 days off the market time on a home that is put on the Realtor Run tour, but broker opens, on the rare occassions somebody actually shows up, are just a waste of time to make the seller feel like you are doing your job.
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