When it comes to selling a home, I am sure you have heard of and are familiar with open houses. Aside from the regular open house of prospective buyers coming to look, there is a broker’s open house. This is not for the home buyers, but instead, their real estate agents. This allows the agents to see if the house is correct for any of their potential clients. This is a great marketing opportunity for your home!
There are a few major differences between a standard open house and a broker’s open house. A standard event allows anyone and everyone to view the house. This could be real estate agents, prospective buyers, or even curious neighbors. The guest list becomes more strict when you move into a broker’s open house.
Timing is another difference between the two. A standard open house is typically during the weekend when prospective buyers are free. Because a broker’s open house is strictly for real estate professionals who are busy with showings on weekends, they tend to be held during the week.
What goes on:
This open house approach is just another tactic to market and sell a property. This is an in person method at showing the listing to real estate professionals that are in the community.
Agents will show up for a tour of the home, typically a free meal, and network with other professionals. This is where they can offer their opinions on the property to your agent. They are typically held quite soon after the listing has been put on the market. This is when the hype is the highest.
Since a standard open house allows everyone, you never know who is going to come through your doors. If the idea of that makes you uneasy, a broker’s open house would be good for you. The guest list is controlled and they are all real estate professionals.
As the agents are going through your home, they are thinking about who of their clients would be a good fit. If they like the house, they are likely to bring some of their clients back with a chance for offers. If an offer doesn’t come in from the open house, it will at least give you a good idea of where you stand. It is a great opportunity for critiques on what people are looking for and where you fall short. This will help you get the sale quicker.