Broker Open Houses are valuable to sellers, agents and prospective buyers. As the name suggests, only brokers are allowed to attend a broker open house. Listings agents are available to highlight the homes features and benefits and answer agent questions. Broker Tour days and times are predetermined by location in order to create driving efficiencies. While agents are hosting their own Broker Open House they cannot be out viewing other properties hosted by others agents at the same time, so sellers should be prepared to host more than one Broker Open House.
- Sellers benefit from agent insight and efficient marketing:
- Sellers can showcase their home to the experts first.
- Agents will provide feedback that may be useful prior to showing to buyers.
- Many prospective selling agents can view the property at the same time, minimizing interruption.
- Agents will be able to be more selective about which clients they bring for showings.
Agents will tour properties for multiple reasons:
- a property is more memorable after one has walked through it
- obtain a better sense of the home and property
- learn about the current inventory
- preview with particular clients in mind
- compare with other similar properties to get a sense of the market
- learn about the competition
- gain understanding and learn details not apparent online
Prospective Buyers are not allowed to attend, however, their agent may preview the property for them and (i) if it is a good fit, get their client in for a showing right away or (ii) if it may not be a fit, shed light on the details so the client can avoid looking at properties and troubling sellers with showings for properties that won’t meet their needs.
Open House Report
Public Open Houses are another means of generating an event for the sale of the home. Buyers can view homes they found appealing online, drop in to get a sense of the market, preview homes they may want to see in more detail later, fall in love with a property, take an informal look without troubling the seller for a private showing. Public Open Houses are advertised online and highlight properties to keep them top of mind. For access to my weekly public open house report, contact me.