Broker’s Open House
Another great way to market your house and get it sold is through an open house. I have previously shared with you tips in organizing a successful and irresistible open house. And now I’m going to tell you more about a type of open house known as the Broker’s Open House. Open Houses are seen by sellers as an essential marketing strategy to sell their property, it’s a great way to get buyer leads. Although it’s not likely that an open house will generate the buyer for the house, realtors and investors still do it because generally the sellers feel that is must be done and aside from that, it’s also a good way for professionals to build their buyers list. An open house attendee most likely won’t end up buying the house held open but you might have another property for sale that suits their needs.
The Broker’s Open House or “Broker’s Open” for short is an agent exclusive tool. A broker’s open house is organized by the seller’s agent. Most buyers are represented by an agent so it’s a good idea to draw in as many brokers and agents as possible to view the house. Once the agent has physically seen a nicely staged house, he or she is more apt to match the home with one of their clients. It really works well for homes that have unique features that would not normally show up on simple listing data. The trick with a broker’s open though is getting a large number of agents to make it a stop on their weekly tour of homes. It is advertised on the MLS and agents will often send flyers and emails to other local brokers. It is also a good time to network with other professionals in the real estate business. Host agents persuade brokers and other agents to attend with raffles, lunch and snacks. The trick is getting a large number of agents to make it a stop on their weekly tour of homes so make sure to give away flyers, postcards, emails, and other incentive imaginable to come. Lure agents to the broker’s open by having giveaways ready. Remember that the only reason you want other agents there is to reach their buyers. So if you want to be effective, take the time to call the top producing buyers agents in your area. Those agents who have buyers to bring to the table are the ones you want attending!
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