Broker Open House

My realtor who is listing my house mentioned this.
I just had some questions for those of you who have experience with this:

How many of you have done this?
How beneficial did you find it?
How soon after listing it did you do a broker open house?
Is this something they do right away or after time?

Re: Broker Open House

We did it the week or so after we listed. They do it right away to get the agents in to see in case they have clients that may be a fit.

Was it beneficial? I don't think it hurt but it didn't bring in any offers or immediate showings.

Re: Broker Open House

I have seen this before on that show "Buying New York" and even "Million Dollar Listing" - it seems like a good, smart idea.

Re: Broker Open House

Yes, do it! we did it for my house (although we decided not to sell and rather keep it).

you want realtors to have a look at your house and keep your house in mind for any prospective clients they have..

any showing IMO is a good thing.

Re: Broker Open House

I never did one. Felt it wasnt worth it. But I know alot of people do it and I do think its a great way to show your home and find buyers. But just be prepared to have loads of people in your home.

Re: Broker Open House

Posted by Goobster

I never did one. Felt it wasnt worth it. But I know alot of people do it and I do think its a great way to show your home and find buyers. But just be prepared to have loads of people in your home.

Re: Broker Open House

I can only share my experience as a buyer right now. Our broker has been great with viewing all Broker Open Houses. She knows what we are looking for and in what price range. She will view the houses at a Buyer's Open Houses ( which is usually before it's available for showing to the public).

Then she basically tells us wether we willl like or dislike For us it has been great b/c she basically is doing all the work and saving us the hassle of seeing every house.

It will only help you! Brokers who have clients looking in your price range...should check out your listing for potential clients.

Hope that helps!!

Re: Broker Open House

We do broker's open houses in my office, and we usually provide lunch for the realtors that come in.

It's a way to give your listing more exposure -- as others have said, local realtors who may have customers that would be interested get to see the house in person, ask questions of the listing agent, etc. As a realtor, I like to go to them because it's must easier to assess whether a home will fit a buyer, and to show it to a buyer, if you've seen it. I don't like to have surprises when I'm doing a showing, and I can better highlight the features of a home if I've seen them before.

The other benefit is that you get other agents' feedback on the house -- price, condition, etc. -- which is great to share with the sellers. We have other agents fill out forms detailing what they think of the house and the price. It's good to have that info.

We usually do a broker's open for a new listing, and sometimes again after a price drop or if a listing came out during a slow time of year (e.g., the holidays) and now activity is picking up again.

Re: Broker Open House

I would definitely do it. I've been to two or three with my mom, who is a realtor. It would just be other realtors getting to see your house so that it's on their radar when they have a potential buyer. I would think they're way less nosy than buyers since they're in houses all the time. As for lunch, it's usually bagels or pizza and. The realtors take a quick tour, eat if they want, and then they're off. I would think it's worth it to get your house more well known.