If your regular open houses are getting stale and not snagging as many eyes as they should, consider other options to showcase your listings.
If that’s the case, consider a broker’s open house! What exactly is a broker’s open? We’ll explore how this version of an open house can generate more interest and establish you as a successful real estate agent in your community.
What is a real estate broker?
A real estate broker is essentially the same as a licensed real estate agent, with a few more advantages. They can move money between escrow accounts, hire others to work under them, and even mediate legal disputes.
Real estate brokers require a brokerage license, and requirements depend on each state. You can expect most to require a licensing exam and a certain number of hours dedicated to brokerage education. Some states also require that you have no criminal record and be at least 21 or older.
What is a broker’s open?
Instead of showing off a property to potential buyers, a broker’s open invites other real estate agents to see if it matches what their clients are looking to purchase. It’s a real estate agent open house with a curated attendance list of local professionals.
How is a broker’s open different from an open house?
Your everyday person can’t come to a broker’s open, not even curious neighbors or friends. And most of the time, a broker’s open house is held on a weekday instead of a weekend.
After all, the weekend is when agents are busy hosting their own open houses or exploring other properties with their clients. Grabbing another agent’s attention during the week is easier and more likely for them to remember your listing.
Why hold a broker open house?
Wondering if hosting your own broker open house is worth it? There are several benefits to doing so:
More visibility
You want to be visible as a real estate professional, and a broker’s open house ensures other agents know about your listing. Connecting with other real estate agents in the area increases your chances of being the go-to contact for certain homes and properties.
And in real estate, it never hurts to meet more people for your sphere of influence and professional contacts. The more, the merrier!
Agent feedback
Other agents could spot potential problems with your listings. But on the same note, they may also point out advantages you never considered.
Professional feedback is essential to driving interest in your listings and fixing issues that may make the property less valuable or attractive.
Gauge interest in the property
Unlike a typical open house, a broker’s open is held at the beginning of the property’s listing. This way, other real estate agents and their clients get “first dibs” on viewing the listing and schedule private showings.
If done right, you should have several buyers interested in seeing and making an offer on the property. If you’ve staged the listing properly, it may even escalate to a bidding war!
Get your listings seen with Virtuance
Whether you’re holding a public open house or broker’s open, you’ll need the perfect pictures to give your clients an idea of your listing’s potential. Virtuance’s professional real estate pictures set the bar high, so your commissions are even higher. Schedule your customizable shoot today.
