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My markets don't really do many brokers open. I think unless a property is very unique or very high end so you can invite only luxury brokers they do not do much to sell a house.
Hi Michael -- I treat a Brokers Open as if it was a public Open House Event -- it is "advertised" to the real estate community but more importantly to buyers, sellers, neighbors alike --- lots of signs, online and print advertising, refreshments, neighborhood information, brochure, information about me.
Success can vary a lot with many factors and in different markets. In some markets a tour on a certain day of the week is what many brokerages do...and they invite each other's offices...have progressive "food a thons" , door prizes etc. If a Brokers Open is not traditional for the market....feeding them may not amke them come.
Waste of time...don't do them!
Not sure why that would be done on a Friday during the summer. That sounds like a recipe for disaster.
And, often when these are done, there are maybe 4 others done on same day in the area, so agents will go to one vs. another.
Also, what I heard from some agents is that it helps if the food is publicized. (and should be done around lunch time).
We no longer do brokers opens unless the property is very unique and expensive. Friday is just the wrong day for something like that.
Good morning Michael. Your question brought up a similar question and a little insight in the way we do open houses for homes we flip. The last one we did brought three buyers and a sale.
I am not the guy for you here Michael, I cant even get anyone to show up for a meetup, unless I host it in the Adirondacks.
If you don't advertise, you are definitely not going to get anyone to attend.
I stopped doing broker opens more than a dozen years ago. No matter how promoted, agents simply didn't attend. I receive at least 3-5 invitations a day and never attend myself... why bother when I can make an appointment to go preview a new listing at my convenience versus making time to go when someone has decided to hold the house open? And serving food does not tempt me.
Michael - In my area, a large number of agents simply put broker opens onto the MLS. We all know the info is there. Simply run the search query for that day and visit the broker opens.
I aggressively unsubscribe or block email blasts from the small number of agents who decide to randomly add me to their distribution list to tell me about open houses in a random part my area (over 5 million population).
This whole topic can have a entire forum written around it. As far as i am concerned there is never enough talk on this subject. we look at brokers opens and open to the public as different events. here is what we suggest
ZILLOW ..and more zillow, with trulia and ALL the others.
email blast (they are right) not very effective.
door knockers to immediate neighborhood days before
lots of smiles and BIG ears... i am tempted to have microphones around :)
online and offline.... invitations via postcards to neighbors and to targeted buyers.....