Profile picture for appreciateadvice

Open house and/or Broker Open House?

My realtor plans to hold an open house the first weekend after my condo hits the market. A friend told me I should request that my realtor host a broker open house instead. I've read mixed things about them. Please share your insights. Thanks!
  • April 24 2014 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (5)

Do Both
  • April 24 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Broker Opens are valuable,. I would say the most valuable thing you can do to showcase your property. Our statistics show that most homes are sold by "Buyer Agents with qualified clients" and the Broker Open is where the Buyer Agents locate suitable properties (one of the ways). I would also cater this so all the local Realtors have a reason to stay a while and really look at your place.
Open House will not sell a property like Broker Open will. I have seen agents present offers at the Broker Open.
  • April 24 2014
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You know, if you hire an agent to sell your home, you should agree with their marketing plan . . .
  • April 24 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I think it really depends on your market, the amount of traffic you can drive to your open house, etc. If done right, you can get a lot of traffic (at least it's true here in Williamsburg). The open house needs to be properly promoted with local ads, including the local press, internet sources like Trulia, Zillow, Realtor.com, homes.com, Twitter, Facebook (locally focussed FB ads). In addition, street signs are important to draw in the drive-by traffic. You do get nosey neighbors but they are great sources of buyer referrals as well. 

Broker open houses are also very important. Make sure your realtor is promoting them as well. Food / drink are critical in getting a good turnout of realtors.
  • April 24 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Outer Banks N C
Open houses are more to appease the seller and find new buyers for the agent than to find a real buyer for the house. A broker open invites agents to come see the house, often on a day when agents go out to see all the new homes recently listed. You need a draw, like food. Showing the house to several dozen agents then puts the house in their minds and then they show their buyers that might be interested. I think you get LOTS more bang for the buck with a broker open, open houses are a waste of time for the most part.
  • April 24 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.