In residential real estate, the weekend open house for prospective buyers is as traditional as the “For Sale” sign in the yard. A broker open house is also a strong marketing tool. What is a broker’s open house? How can it help you sell your home?
Comparing open house types
With a traditional open house, you vacate your house for a couple of hours, generally on a Sunday afternoon, leaving your agent to meet and greet potential buyers drawn by your “Open House” signs around the neighborhood. Buyers now often search for homes and take virtual tours online, but the weekend open house offers them an opportunity to see aspects of a home that photos alone can’t capture.
A broker’s open house is a different sales tactic. It allows you to market your home to other real estate agents, each of whom has a customer base of scores or even hundreds of potential buyers.
How a broker open house works
While weekend open houses target buyers who are out looking for themselves, a broker open house targets agents and is generally held during the workweek when buyers are not available. A broker’s open house usually happens as part of a tour during which agents visit several houses.
The benefit to you as a seller is that each agent who attends your broker open house walks the house with an eye toward which of his clients would find your home appealing. Floorplan, features and benefits will stand out with particular clients in mind.
Another benefit to the broker open house is that it allows your listing agent to ask the visiting agents for feedback on your property. The critiques will be honest and specific. For example, if you have pets, you might hear back from the visiting agents that your home has animal odors. You can take these critiques to heart because they come from home-selling professionals who have an interest in selling your house.
Getting on a broker tour
If you would like your house to be shown on a broker tour, ask your listing agent to add it to one. Be sure your house is in top shape and that marketing flyers are on hand for agents to take. It’s especially helpful to schedule a broker’s open house soon after listing to draw attention from multiple agents while the listing is fresh.
Related – Prepping for an Open House
