Five Reasons To Host A Broker's Open House

By
Managing Real Estate Broker with Pino Agency NJ - 9235504
https://activerain.com/droplet/SMk

  

1)  It's a great way to be certain that Buyer's agents are familiar with your property.  

Let's face it....buyer's agents have the ear of consumers who the listing agent will probably never get to speak to. A Broker's Open house is one way to encourage those agents to schedule showing appointments for their client.  The theory is that once an agent sees your home and learns how terrific it is, he or she will want to spread the word.   

2)  The feedback you will receive from the Real Estate professionals can be quite enlightening.

It's great that your listing agent completed a market analysis on your place and reviewed all of the pertinent statistics, but it is also comforting to receive opinions and feedback from several other Realtors.  Sometimes you can be quite surprised by someone else's perspective.  For instance, at a recent open house, one of the attendees remarked that the property was centrally located to the Jersey Shore, Philadelphia and Baltimore.  These locales were all within an hour to an hour-and-a-half distance from the property.  Apparently, this particular person was thinking in terms of business travel and the closest airports.  

3)  The marketing efforts to invite and attract the Realtors to the Open House can catch a Buyer's eye, too.

It is not uncommon for agents to bring one of their Buyers to the event and that is a wonderful outcome for any seller!  Additionally, if the listing agent utilizes social media, announcing the Open House on facebook, twitter, pinterest, linkedin, blogs, etc. is excellent exposure to the market.

4)  Newton's Laws of Motion!  business people

An object that is at rest will stay at rest unless an external force acts upon it.

An object that is in motion will not change its velocity unless an external force acts upon it. In other words, marketing activity attracts interest -- interest turns into showings -- showings attract offers -- offers turn into an agreement of sale which leads to the final settlement.  

5) Realtors are no different from anyone else....they like to eat.  

Perhaps if they enjoy your home over a relaxing meal with their fellow agents a 'warm and fuzzy feeling' will be associated with your listing. A positive experience and a pleasant memory can go a long way.

Broker's Open houses can be a powerful tool for your agent to promote your property.  Often times, this type of event can be more productive than a public open house.

 

"More contact means more sharing of information, gossiping, exchanging, engaging -- in short, more word-of-mouth."
~Gary Vaynerchuk, author of The Thank You Economy

 

 

 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Best Practices
Location:
New Jersey Salem County
Groups:
Almost Anything Goes
Cosmic Cow Pie...The Rome Way
Bananatude
Tags:
nj
real estate in salem county
chris hooks
benefits of brokers open houses

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Rainmaker
1,317,075
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I have been wondering about he benefit of a broker's open house.  I think the feedback is very important.  It also helps to know the inventory and pricing when advising seller on pricing or buyers or offer range...

Mar 27, 2013 12:29 PM #1
Rainmaker
1,749,750
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We just had one with 22 agents attending, and 3 showings as a result, it's UA and settles next week !

I proactivily called 90+ agents(50% were VM messages,which was OK) and personally invited them !

Mar 27, 2013 12:35 PM #2
Rainmaker
318,378
Carra & Shae Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Christine, Powerful post and agents should really take heed as to how important it is to be letting the market know through active agents about the home a seller has hired you to sell!  To add icing to the cake sharing the broker open on twitter, facebook, google+ and Pinterest along with linked in the fact you as an agent are holding this broker open, many people will see what  you are doing as an agent to market a property and might select you when they sell their home.  

 

CowFEATURED in the Cosmic Cow Pie... The Rome Way group.  

Mar 27, 2013 07:11 PM #3
Rainer
284,179
Christine Hooks
Pino Agency - Pennsville, NJ
Celebrating 25 Years in Real Estate!

Good morning, Joan.  Another reason that I like the Broker's Open House is that it is held during the workday.  I hope you will try one on your next listing.  I think you may enjoy the benefits.

Wow, Michael!  90+ phone calls?  You get the gold star for that!

Hi, Carra!  Thanks for the feature!  What a nice compliment.  Have a wonderful day!

 

 

Mar 27, 2013 11:22 PM #4
Rainmaker
318,378
Carra & Shae Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Christine, you are most welcome! Good content!

Mar 28, 2013 01:18 AM #5
Rainmaker
1,289,296
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

We use Brokers Open to get the price right, asking the agents to suggest prices and the one that gets the closest gets a cash prize.

Mar 30, 2013 12:24 PM #6
Ambassador
3,582,263
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks to Charles for the reblog, this is great info Christine and a reminder that I should be doing some of these.

Apr 06, 2013 04:46 PM #7
Rainer
284,179
Christine Hooks
Pino Agency - Pennsville, NJ
Celebrating 25 Years in Real Estate!

Hi, Bob.  I wish you good luck!

Apr 10, 2013 02:21 PM #8
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Rainer
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Christine Hooks

Celebrating 25 Years in Real Estate!
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