4,584,196
Broker open house events or as they are often called in our market--broker caravans are still quite popular and typically well-attended. They serve/can s erve multiple purposes here as a marketing effort to both the real estate brokerage community as well as the public including prospective buyers/sellers who know this may be a chance to see that new listing.
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PropertyMinder (Accele...
San Jose, CA
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Richard Weeks
Dallas, TX
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Ron and Alexandra Seigel
Carpinteria, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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Peter Testa
Danbury, CT
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Nina Hollander, Broker
Charlotte, NC
5,258,239
I prefer public opens but, if I have a spectacular high-end listing that needs more exposure and the season is right, I'll have a broker open.
As I said, I'd rather have it open to the public and not just limit it to other brokers/agents.
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PropertyMinder (Accele...
San Jose, CA
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Richard Weeks
Dallas, TX
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Peter Testa
Danbury, CT
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Candice A. Donofrio
Fort Mohave, AZ
2,222,281
If a seller insist on it.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Peter Testa
Danbury, CT
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Nina Hollander, Broker
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
5,116,528
1. Only if a client absolutely insists on it and in the last decade I've only ever had one. No buyers resulted. Serious buyers make appointments to look at homes with their agents or call me direct.
2. If someone is coordinating a neighborhood open house and asks me to participate... I've only had one of those in the past 10 years. No buyers resulted.
In 25 years I've never sold a home off of an open house. I've picked up a client here and there, but let's face it... that's not why agents "sell" open houses to their clients. Secretly agents just hope to pick up a few prospects. And then there is the issue of safety... not good for me and I'm not sure great for sellers as we really don't know who is wandering through their home.
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PropertyMinder (Accele...
San Jose, CA
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Richard Weeks
Dallas, TX
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Kathleen Daniels, Prob...
San Jose, CA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
1,057,554
We have some very exclusive waterfront properties that rarely come on the market and if they did, would sell for MMs. If hired to list a property like that, I would hold a broker's open on a Saturday afternoon with music and libations and invite the heaviest hitting buyer's agents.
The chance of that is rather slim, but to me that would be the highest and best use of a broker's open. I am not a residential broker so when I'm invited to those I do not attend. The only time I would consider it would be if I had a buyer who was specifically looking for something along those lines.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Peter Testa
Danbury, CT
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Candice A. Donofrio
Fort Mohave, AZ
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Debe Maxwell, CRS
Charlotte, NC
3,416,038
They ar enot worth it in most cases in this market. I am getting home sunder contract in less than 7 days without them. They do work for new construction or a home that is unique
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PropertyMinder (Accele...
San Jose, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
2,684,769
High end house or luxury house. Or, if I represent a developer or major builder in a subdivision, I will hold a Broker open in the model home.
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PropertyMinder (Accele...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
6,424,817
Have not done one, some day I would like to attend one but so far they have all been scheduled when I was busy.
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PropertyMinder (Accele...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Bob Crane
Stevens Point, WI
1,554,939
I always do Broker Caravan Opens.
I NEVER do open to the unapproved, looky-loo, petty crime, waste my time public.
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Thomas J. Nelson, REAL...
La Jolla, CA
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Candice A. Donofrio
Fort Mohave, AZ
759,935
I think if you have a "Hot Listing" you should do the Open House. Hot Listings sell at Open Houses. If you're overpriced & doing it just to keep a demanding seller happy then you've just wasted 2 hours of your Sunday.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
3,071,589
This week BVO is holding 27 Open Houses.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
4,800,132
If the home is one I think other agents can help me sell.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Carol Williams
Wenatchee, WA
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Nina Hollander, Broker
Charlotte, NC
1,712,876
Zero, you can always be assured that the agents who don't do business will come for the free food.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
1,506,923
I'm doing one today. Unhosted though. Basically just put it in the system and any brokers interested can go.
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PropertyMinder (Accele...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Michael Jacobs
Pasadena, CA
5,773,239
James,
I agree with Michael Jacobs . They work very well here also. It depends on the market place. A
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PropertyMinder (Accele...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Michael Jacobs
Pasadena, CA
2,190,182
In our market area (Central Washington) they are weekly and well attended. It is the most effective way of keeping up with new inventory as it comes on the market. It was an important event in my weekly schedule. The local MLS office coordinates the list and disseminates it to the membership. It wasn't a lot of work, other than tending the Open for a 2 hour period.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
5,245,401
As someone who has been involved in several markets in Florida and Illinois, it depends! They work in some areas and are a waste in others. Know your market!
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Candice A. Donofrio
Fort Mohave, AZ
7,870,816
They are popular in our area but not always necessary in our active market.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
902,428
It's a good way to get other agents interested or at least aware of the property. Unfortunately, getting them to attend is another matter. In my area, agents do it with luncheons, prize drawings, etc.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
4,434,177
Only if seller requests it..
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PropertyMinder (Accele...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
3,627,272
Never done one, never plan on doing it. I've attended a lot of them, mostly for the free food
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
4,906,660
It would have to be a hot buyers market.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
766,669
New listing, one that needs to be seen to be believed.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
5,583,328
with new construction, it's a MUST...
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
509,449
Will do on high end homes. Probably a good to get an idea what other agents think of the pricing of the home expecially when the seller wants it listed too high. Typically I walk away and turn down the listing if seller is not reasonable, though.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
3,350,589
Only if a seller insisted upon it. In 15.5 years I've never had a listing on a broken open. My experience is they are agent social hours and opportunities for free food.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
5,063,230
For a higher-end home that is not likely to disappear within a few days of hitting the market.
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
2,785,456
Client request or if I see the need...
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PropertyMinder (Accele...
San Jose, CA
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Michael Jacobs
Pasadena, CA
5,879,676
Our market has been so hot, we have stopped seeing (for the most part) broker opens.
183,505
Thanks all for commenting. It seems that most of you see value in doing broker opens in special circumstances. However, there are significant cohorts that see little or no value in doing them.
Particularly impressive are the novel ways some folks are using broker opens, their reasons for doing so and the positive results they are getting. Also, it appears that some agents who have not used them are considering using them and a few who were against them are reconsidering. As for myself, I now have a better idea under what circumstances broker opens might bring more business.
1,728,767
4,967,093
544,014
It is a great marketing tool to impress sellers and potential listing clients.
921,504
Your question is specifically about BROKER OPENS.
What circumstances?
1. When critical mass can be created. That means several houses open in close proximity.
2. A purpose. As we all know, agents have access to the MLS. So, what's the real purpose? Could be: special features. Networking. Opportunities. Education. Gossip.
3. The property represents the type of business I want to grow.
OPEN HOUSES of all types are GOLD MINES for those who know how to establish a purpose and have a 'open house' team to accomplish the goal.
1,153,794
Any time we feel the listing needs an added push whether it be orientation, design, setting, view, etc. the Broker's Open often can be the necessary nudge. Big events are relative to big prices and rightly so.
4,319,873
3,986,308
519,324
In the down turn, my wife and I attended them weekly. We prioritized which ones based on homes meeting our buyers potential interests, comparables to current or upcoming listings, interesting or unusual properties and finally the ones who had a nice lunch or giveaway.
These days I do it with new agents I'm training.
I hold them for all listings however, and publish them to the public as well. The more the merrier.