James (Jim) Lawson, DBA, Broker Associate, RSPS, BPOR, HI & PE (DomainRealty.com LLC)

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Rainmaker
4,141,503
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Broker open house events or as they are often called in our market--broker caravans are still quite popular and typically well-attended.  They serve/can s erve multiple purposes here as a marketing effort to both the real estate brokerage community as well as the public including prospective buyers/sellers who know this may be a chance to see that new listing.

Jun 22, 2018 04:21 AM
Ambassador
4,310,787
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I prefer public opens but, if I have a spectacular high-end listing that needs more exposure and the season is right, I'll have a broker open. 

As I said, I'd rather have it open to the public and not just limit it to other brokers/agents.

Jun 22, 2018 07:01 AM
Rainmaker
1,959,645
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

If a seller insist on it.

Jun 22, 2018 05:25 AM
Rainmaker
4,179,964
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

1. Only if a client absolutely insists on it and in the last decade I've only ever had one. No buyers resulted. Serious buyers make appointments to look at homes with their agents or call me direct.

2. If someone is coordinating a neighborhood open house and asks me to participate... I've only had one of those in the past 10 years. No buyers resulted.

In 25 years I've never sold a home off of an open house. I've picked up a client here and there, but let's face it... that's not why agents "sell" open houses to their clients. Secretly agents just hope to pick up a few prospects. And then there is the issue of safety... not good for me and I'm not sure great for sellers as we really don't know who is wandering through their home. 

Jun 22, 2018 03:42 AM
Rainmaker
903,887
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

We have some very exclusive waterfront properties that rarely come on the market and if they did, would sell for MMs. If hired to list a property like that, I would hold a broker's open on a Saturday afternoon with music and libations and invite the heaviest hitting buyer's agents.

The chance of that is rather slim, but to me that would be the highest and best use of a broker's open. I am not a residential broker so when I'm invited to those I do not attend. The only time I would consider it would be if I had a buyer who was specifically looking for something along those lines.

Jun 22, 2018 06:25 AM
Rainmaker
3,339,425
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

They ar enot worth it in most cases in this market. I am getting home sunder contract in less than 7 days without them. They do work for new construction or a home that is unique

Jun 22, 2018 04:20 AM
Ambassador
2,576,857
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      High end house or luxury house.  Or, if I represent a developer or major builder in a subdivision, I will hold a Broker open in the model home.

Jun 22, 2018 04:13 AM
Ambassador
5,464,093
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Have not done one, some day I would like to attend one but so far they have all been scheduled when I was busy.

Jun 21, 2018 11:11 PM
Rainmaker
1,255,123
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I always do Broker Caravan Opens.

I NEVER do open to the unapproved, looky-loo, petty crime, waste my time public.

Jun 22, 2018 07:38 AM
Rainmaker
689,725
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I think if you have a "Hot Listing" you should do the Open House. Hot Listings sell at Open Houses. If you're overpriced & doing it just to keep a demanding seller happy then you've just wasted 2 hours of your Sunday. 

Jun 22, 2018 05:50 AM
Rainmaker
3,070,134
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

This week BVO is holding 27 Open Houses.

Jun 22, 2018 05:22 AM
Rainmaker
4,799,601
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If the home is one I think other agents can help me sell.

Jun 22, 2018 05:12 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Zero, you can always be assured that the agents who don't do business will come for the free food.

Jun 22, 2018 05:00 AM
Rainmaker
1,394,489
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm doing one today.  Unhosted though.  Basically just put it in the system and any brokers interested can go.

Jun 22, 2018 08:39 AM
Rainmaker
5,651,023
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

James,

I agree with Michael Jacobs .  They work very well here also.  It depends on the market place.  A

Jun 22, 2018 08:03 AM
Ambassador
1,765,603
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

In our market area (Central Washington) they are weekly and well attended.  It is the most effective way of keeping up with new inventory as it comes on the market.  It was an important event in my weekly schedule.  The local MLS office coordinates the list and disseminates it to the membership.  It wasn't a lot of work, other than tending the Open for a 2 hour period.

Jun 22, 2018 06:59 AM
Rainmaker
4,268,167
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

As someone who has been involved in several markets in Florida and Illinois, it depends! They work in some areas and are a waste in others. Know your market!

Jun 22, 2018 06:21 AM
Rainmaker
6,675,975
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

They are popular in our area but not always necessary in our active market.

Jun 22, 2018 06:18 AM
Rainmaker
827,342
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It's a good way to get other agents interested or at least aware of the property. Unfortunately, getting them to attend is another matter. In my area, agents do it with luncheons, prize drawings, etc. 

Jun 22, 2018 05:01 AM
Rainmaker
4,433,753
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Only if seller requests it..

Jun 22, 2018 03:33 AM
Rainmaker
3,619,147
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Never done one, never plan on doing it.  I've attended a lot of them, mostly for the free food

Jun 22, 2018 02:55 AM
Rainmaker
4,092,635
Richard Weeks
Dallas, TX
REALTOR®, Broker

It would have to be a hot buyers market.

Jun 22, 2018 10:48 AM
Rainmaker
653,203
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

New listing, one that needs to be seen to be believed.

Jun 22, 2018 10:25 AM
Rainmaker
5,572,175
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

with new construction, it's a MUST...

Jun 22, 2018 08:51 AM
Rainmaker
508,743
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Will do on high end homes.  Probably a good to get an idea what other agents think of the pricing of the home expecially when the seller wants it listed too high.  Typically I walk away and turn down the listing if seller is not reasonable, though.

Jun 22, 2018 07:53 AM
Ambassador
3,082,191
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Only if a seller insisted upon it.  In 15.5 years I've never had a listing on a broken open. My experience is they are agent social hours and opportunities for free food.  

Jun 22, 2018 07:48 AM
Ambassador
4,608,058
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

For a higher-end home that is not likely to disappear within a few days of hitting the market.

Jun 22, 2018 07:42 AM
Rainmaker
2,648,753
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Client request or if I see the need...

Jun 22, 2018 06:30 AM
Rainmaker
4,998,698
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Our market has been so hot, we have stopped seeing (for the most part) broker opens.

Jun 26, 2018 12:05 PM
Rainmaker
183,455
James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Thanks all for commenting. It seems that most of you see value in doing broker opens in special circumstances. However, there are significant cohorts that see little or no value in doing them.

Particularly impressive are the novel ways some folks are using broker opens, their reasons for doing so and the positive results they are getting. Also, it appears that some agents who have not used them are considering using them and a few who were against them are reconsidering. As for myself, I now have a better idea under what circumstances broker opens might bring more business.  

Jun 26, 2018 06:57 AM
Rainmaker
1,644,682
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

At every opportunity, depending on the property

Jun 25, 2018 06:05 AM
Rainmaker
4,051,363
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I do not think it is worth it in a fast market.

 

Jun 24, 2018 09:35 AM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

It is a great marketing tool to impress sellers and potential listing clients.

Jun 23, 2018 08:16 AM
Rainmaker
893,857
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Your question is specifically about BROKER OPENS.

What circumstances?

1. When critical mass can be created. That means several houses open in close proximity.

2. A purpose. As we all know, agents have access to the MLS. So, what's the real purpose? Could be: special features. Networking. Opportunities. Education. Gossip.

3. The property represents the type of business I want to grow.

OPEN HOUSES of all types are GOLD MINES for those who know how to establish a purpose and have a 'open house' team to accomplish the goal.

Jun 23, 2018 06:13 AM
Rainmaker
1,114,505
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Any time we feel the listing needs an added push whether it be orientation, design, setting, view, etc. the Broker's Open often can be the necessary nudge. Big events are relative to big prices and rightly so.

Jun 23, 2018 05:17 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

James (Jim) Lawson, DBA - only to make sellers happy.

Jun 22, 2018 11:17 PM
Rainmaker
3,985,922
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I never have.

Jun 22, 2018 08:12 PM
Rainmaker
514,174
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

In the down turn, my wife and I attended them weekly. We prioritized which ones based on homes meeting our buyers potential interests, comparables to current or upcoming listings, interesting or unusual properties and finally the ones who had a nice lunch or giveaway.  

These days I do it with new agents I'm training. 

I hold them for all listings however, and publish them to the public as well. The more the merrier. 

Jun 22, 2018 02:57 PM