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Horlow ,  in 19440

Open house Or Broker's Open which one would you schedule first and why?

Asked by Horlow , 19440 Wed Dec 5, 2007

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11
I think that a broker open house is better to be first, that way all agents can give you their candid opinion about the condition, the price and the way it shows. You can address all those items they point out then have an open house to the public.
Web Reference: http://www.sumnerrealty.com
2 votes Thank Flag Link Wed Dec 5, 2007
... and yet one more vote for broker's tour first. If you presume that each agent may be working with 1-3 potential buyers who may be a good fit for the subject property, you have now exposed your home to up to 3 times as many people as a public open house can. And you know that the exposure is to buyers who are serious enough to have contacted a Realtor (walked into the lion's den, so to speak).
... at a public open, you're more likely to have casual lookers, curious neighbors and passersby than you are true buyers.

... I'd always opt for the broker's tour first, followed quickly by your first public open, if you're planning on having a public open at all.
1 vote Thank Flag Link Fri Jan 18, 2008
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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There is a lot of great advice below. I think I would hold the broker's open first. I have had good luck with doing it that way because you will get opinions about pricing and suggestions that may improve the showing ability from the brokers. With that imformation you can make any needed adjustments to pricing and/or staging at the beginning. In my experience most buyers are working working with an agent, so if you do as I suggest you have a good chance of potentially getting multiple offers for your seller!
1 vote Thank Flag Link Sat Dec 8, 2007
Every market is different but I agree with Christine the first answer. I always do a public Open House as my first showing. I invite the neighbors and create a buzz for the property. Sharp brokers will send their buyers or come with their buyers because they already know the inventory. Often that will be all I need.
1 vote Thank Flag Link Sat Dec 8, 2007
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
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Hi Hadjer,
I am also an agent in Bucks and Montgomery Counties and have held many broker's opens to satisfy my clients, but have found them ALL to be a waste of time and money. I advertised the Broker Open on TrendMLS, sent email flyers, called offices and had Joe Rittenhouse deliver flyers to offices in the area. Generally, the only agents that came were from my office because they knew the food would be good. I agree with Joe and market mostly to other agents, but IMO a Broker Open around here is a waste.

I personally like to hold a Public Open House the second weekend the home is on the market. Get the nosy neighbors in and talking about the house for you!
Web Reference: http://www.cityservice.com
1 vote Thank Flag Link Thu Dec 6, 2007
Always a Broker's open has priority. It is 95% likely that a real estate agent will sell the house, as opposed to an unrepresented buyer just walking into an open house and buying it. I have reoriented a good portion of my marketing and advertising to direct it to brokers instead of the public for my listings.
1 vote Thank Flag Link Thu Dec 6, 2007
Broker's Open first, because that way each broker can go back to his/her clients and tell them "I just previewed something that's brand-new on the market and perfect for you."

Everybody loves that sense of VIP treatment, and someone from that network may turn out to be your buyer. If not, what have you lost? Two weeks?

Alison Rogers
author, "Diary of a Real Estate Rookie"
Insider Real Estate Tips with a Twist of Humor: http://tinyurl.com/2ag28z
Web Reference: http://tinyurl.com/2ag28z
1 vote Thank Flag Link Thu Dec 6, 2007
Brokers always...you get the maximum exposure the fastest..like leaving the start of a race with a bang.
Web Reference: http://www.iansellsnola.com
1 vote Thank Flag Link Thu Dec 6, 2007
I am a Broker in the Chapel Hill, NC area and would suggest an Open House to the neighbors and community first. Then 2 weeks following that (if the home has not sold) I would invite the Brokers in the area to the home.
1 vote Thank Flag Link Wed Dec 5, 2007
any opportunity to get more buyers or agents that represent buyers into the property can only increase the probability that you will sell a home faster and for more money......

So why wouldn't you?
0 votes Thank Flag Link Wed Jul 17, 2013
I always do broker's open first, because I try to do it the same week I list, plus there's a week lead time for the local paper to put an ad for the public open. I do the public the next weekend, when I also send invitations to the neighbors. Of course, I have signs for the broker's open, so the public is invited. It's usually during the week, though.
0 votes Thank Flag Link Thu Jan 17, 2008
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