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Karen Kitzmi…, Real Estate Pro in Charlotte, NC

Agents, who has successully used agent caravans to showcase office listings? How does your program work? I'm interested in responses from

Asked by Karen Kitzmiller, Charlotte, NC Tue Dec 28, 2010

anywhere!

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I have not had much success from agent caravans. Have had much more success from WEEKEND OPEN HOUSE or AFTERWORK OPEN HOUSE where every agent in the neighborhood participates to have an Open House on the same day. Bringing in Buyers to look.

The most success I have had for Agents is to BRIBE THEM WITH GAS CARDS. Even a $5 gas card is worth it. And if 10 show up, that's only $50. And nearly ALL my current listings carry a 6-percent Buyer Agent Commission! That's right, a FULL 6-PERCENT to the BUYER AGENT! So, even the other agents on my block having an Open House can bring an offer on my house and know they are not losing any money by not selling their own listings!


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Nate Wolf was recently named a FIVE STAR REALTOR by Charlotte Magazine. He is a top producing real estate sales broker, representing both buyers and sellers. He is a member of the National Association of Realtors, The Charlotte Regional Realtors Association and the Carolina Multiple Listing Services. He is licensed in multiple states and serves all areas of Metro Charlotte from Lake Norman to Lake Wylie and Uptown / Center City to SouthPark and Ballantyne.

http://www.natewolf.com
charlotte mls realtor home listings
http://www.CLThome.com
Web Reference: http://www.natewolf.com
0 votes Thank Flag Link Tue Jun 28, 2011
I have not had much success from agent caravans. Have had much more success from WEEKEND OPEN HOUSE or AFTERWORK OPEN HOUSE where every agent in the neighborhood participates to have an Open House on the same day. Bringing in Buyers to look.

The most success I have had for Agents is to BRIBE THEM WITH GAS CARDS. Even a $5 gas card is worth it. And if 10 show up, that's only $50. And nearly ALL my current listings carry a 6-percent Buyer Agent Commission! That's right, a FULL 6-PERCENT to the BUYER AGENT! So, even the other agents on my block having an Open House can bring an offer on my house and know they are not losing any money by not selling their own listings!


____________________________________

If this post answered your questions, GIVE ME A THUMBS UP!
____________________________________
Nate Wolf was recently named a FIVE STAR REALTOR by Charlotte Magazine. He is a top producing real estate sales broker, representing both buyers and sellers. He is a member of the National Association of Realtors, The Charlotte Regional Realtors Association and the Carolina Multiple Listing Services. He is licensed in multiple states and serves all areas of Metro Charlotte from Lake Norman to Lake Wylie and Uptown / Center City to SouthPark and Ballantyne.

http://www.natewolf.com
charlotte mls realtor home listings
http://www.CLThome.com
Web Reference: http://www.natewolf.com
0 votes Thank Flag Link Tue Jun 28, 2011
I am not too familar with this type of event. I have heard about it in Las Vegas and a couple of other towns where there was a large REO inventory.

Most agents and buyers that I know like the flexibilty and independence of their own vehicles, just cause they want to leave early.
0 votes Thank Flag Link Tue Jun 28, 2011
The purpose of such activities is to get the property into the working inventory of as many agents as possible. You want attending agents to have an 'ah-ha' moment when they are out with a buyer and say, "Hey, you may like this home. It doesn't match your criteria exactly, but you may find it exactly what you are looking for."

Since over 80% of homes are sold through recipricating agents, missing this opportunity is a major oversite. Of course, there are three golden rules to getting attendance for anything. They are;
Put the kids on stage
Put the citizens money at risk
FEED THEM!

Your broker must be an advocate of broker opens and attend all opens held by the office agents. Agents must attend the opens held by others. It would actually be helpful to ask the hosting agent the objective of this brokers open. The most valid is comments concerning condition and improvement suggestions. The least valid is price suggestions WITHOUT supporting data.

The purpose is working inventory, equip agents to identify the value of this home.
0 votes Thank Flag Link Tue Jun 28, 2011
I've seen companies do caravan and it seems to be pretty unsucessful in my experience. A lot of agents don't show up or get lost along the way and drop out, leaving you with wasted time and little feedback.
0 votes Thank Flag Link Mon Jun 27, 2011
Hi Karen,

Welcome to Trulia-

I usually do a Broker's Open House during the week at lunch time for new listings, inviting not only agents from my brokerage house but also other local agents. IMO the key is to be known for providing consistently good food at those events. Nothing like a free lunch to motivate....:)
It is a bit costly but get the word out for new listings and is a good way to network with other local agents.
0 votes Thank Flag Link Tue Dec 28, 2010
Our company doesn't necessarily have a caravan but we have great turnouts for our company tours every Wednesday morning after our sales meetings. We pitch properties at our company-wide meeting on Tuesdays and then have individual office meetings on Wednesday where we can pitch them again then go out on tour. Our company philosophy is that touring is very important to know the inventory and market better than anyone else. I've been at other companies where they don't really tour and they don't do that much business either. We feel there is a connection between touring and production...we are consistently one of the top companies in the country with sides per agent each year.
0 votes Thank Flag Link Tue Dec 28, 2010
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