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Broker Opens (or any Opens) haven't been well received in my area in many years (+5 at least) Since the introduction of vtours and fabulous photos, agents just don't make the effort to even preview these days. I always feel sorry for a newer agent who thinks they've hit on the latest thing and organize a wine & cheese or catered affair and then no one shows up. I, at least, RSVP to let them know not to expect me.
Nina Hollander, Broker
No, nothing special, usually appetizers, drinks, and a big smile ( unless it is a distressed sale).
Yes and yes-cater fab lunches
NO, when I did it made no difference
Broker open house are not well attended in our area. It is a lot of expense and preparation to have a dozen or so agents turn out.
Yes. Nothing much different other than I also advertise it as a public open house. I've sold two so far doing this.
This all depends on the sellers' preferences. We always offer, but few seem willing to open their homes to any sort of open house. Perhaps they know how strong the market really is at this moment in time.
Jeff Dowler, CRS
I don't hold brokeropen houses (they are not well attended in our area), so new tips and tricks. Sorry, Jeff.
Broker opens in this area are not very well attended. Thank you for your question Jeff Dowler CRS .
Jeff Dowler CRS not a big fan of it. Last couple of listing I did NOT have broker's tour.
Though it is still popular in our area.
we have a monthly "realtor ramble" that is 20 broker opens. I put some (not all) of my listings on when they are new. I generally have a survey and give away a gift card via random drawing of those who fill our a survey.
I do, and there is food. Hang your pork chop in the window, and they will come!
We have a broker property tour once a week for new listings. This works great and we get to see something like 5 to 7 listings in about two hours. It saves a lot of time.
I have a Barbecue caterer and feed them well.
They don't work here any more - some sellers expect them and that is fine but they don't work.
I no longer do because agents do not show up. We've tried gas cards, food, lottery cards, bottles of wine & still get bad turnout.
In our area you will find 3-7 brokers open usually on a Tuesday. Larger more expensive homes or properties that have been completely renovated. It's an opportunity to view homes that might not be seen otherwise.
Broker open houses work relatively well in my area. I have been in areas where they did not!
Sometimes I do, and I offer food and/or a gas card. I like the input I get from other agents when I do them.
we're in an extreme seller's market with 1 month of resale inventory remaining.... our first showings start with an open house....the home will be packed and the offers will flow freely.... we've seen prices go tens of thousands over list....
Except for a few luxury listings they are rarely done here. In Houston, the bill for catered food, wine and door prizes ($100 gift cards) just got carried away.
Broker opens do not go over well here, so many are too busy. If we have a buyer for the property, we will either preview or show it.
Not usually, only on higher end listings. I bring food, that gets people to show up out here. It's not so much a broker's open as a "feed your fellow realtor" event.
I treat broker open houses/caravans as another marketing opportunity to the public since some agents feel that they are not necessary. It is quite common in our area for the public to attend broker caravans.
I have in the past when it was more of a buyers market.
Broker open houses are conducted very differently in the various towns in my community. Responses are not always the best, it often takes special "lures" such as lunches, raffles, etc. If successful, it's a good way to showcase a new listing, good visisbility among agents.
We serve food. That helps attract agents.
We have a lot of success with opens for our rentals, one unique thing we do is stay open long hours and make them all schedule an appointment ahead of time, each 20 minutes apart.
I don't see the value in doing them. I have no problem being up front with a seller about price and condition. And just like buyers, agents can see the pics online. Not sure why we still do them.
A BROKERS open house.
#1. Critical mass. If there are not additional homes hosting a Brokers Open, there will be MUCH Less (zero) incentive to attend.
#2. If the real estate is so incredibly unique that it is a DESTINATION then critical mass is not as important.
#3. Assess your message distribution channels. Chat with another agent who recently hosted a BO. Inquire regarding the turn out and the channels they used. If you will be using the same resources, you are forewarned.
#4. Seed the event so your NEXT BO will be well attended. What I mean is, besides eating lunch, what of benefit will they walk away with? Buying colorful rocks and shiny things and drawing from the hat is not what I refer to, but things of real value although perhaps, not tangible.
What is you could provide them with 27 digital "Call to Actions" they can edit?
What if you could provide them a white paper on the science of creating good subject lines on email?
What if you could share with them ten minutes regarding the sociology of placements in video?
What if you could chat about Sugar CRM and the sharing economy and how these two work together?
What if you could introduce them to Dynofresh?
The idea will make you think of the imagine of herding chickens, but don't forget....FOOD is the anchor and when they are eating the are not talking.
Make it of value and they instruct you, "Let me know when you have your next BO."