Dark Horse C…,  in Saint Charles, IL

What incentive would persuade you, as a Realtor, to attend a "Brokers' Open House" conducted by the homeowner?

Asked by Dark Horse Construction, Saint Charles, IL Sun Jul 5, 2009

Assume you receive a postcard mailer for the open house. Would a raffle or giveaway persuade you to get in the car?

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Kara Morris’ answer
I attend open houses all the time as a loan officer. I find that the potential buyers coming through have lender questions. I'm simply there to answer those questions.

Since I preapprove buyers, it's also important for me to point them to the right referral partner be that a builder or realtor.

Feel feel to check me out at http://www.castlebankmortgage.com/kmorris.htm
email - kmorris@castlebank.com
cell - 630-877-HOME (4663)
office - 630-466-1192 X7413
0 votes Thank Flag Link Tue Nov 22, 2011
Daniel, I would have thought the same thing. I'm glad to hear that I'm not the only person thinking along the lines that added money incentive should provoke realtor interest. But, our experience has been to the contrary. We sent out a large, color postcard mailer to 2,000 realtors offering a 3.5% commission to the buyer's broker -- and generated NOT EVEN ONE new showing!! It was not an invitation to an open house, but I expected that some of the realtors would have wanted to at least preview (at their convenience) the house offering a $36,000 commission.
Web Reference: http://www.oakhillsct.com
0 votes Thank Flag Link Wed Aug 26, 2009
what would make me go to your FSBO open house?

simply put, 4% buyes side commission agreement!
0 votes Thank Flag Link Wed Aug 26, 2009
Hello Sheri,

Normally when I attend a broker's tour it is to identify potential homes for an active buyer that I am working with. Lunch is always nice for a broker's tour, but I am not sure that you need to do anything more than that. The agents that have active buyers looking in that price point, will come and view the home if their schedule allows. As you can see from my other post, buyers in this price range are pretty few and far between at this time.

It's a strong buyer's market right now. I would encourage you to focus on having the best home at the best price to get it sold!

Maybe have a pretty basic broker's tour to start and see what happens. Depending on the turn out, you can see if doing something more will make sense.

Good Luck!

0 votes Thank Flag Link Tue Jul 7, 2009
How making it sound like a "fun party"? Get a couple of high schools kids to play music, tie in with a loan officer to provide hot dogs, brats around the pool, contact a local store for some gifts/samples to give away such as hair salon, liquor stores, etc. You might try a raffle for something useful for Realtors - again cut a deal with some local stores. A bonus is great but it has never influenced what I'm going to show to a buyer. Print up flyers & take them around to the major real estate offices in the area. (say you'd truly appreciate their opinion).
0 votes Thank Flag Link Sun Jul 5, 2009
In the Oak Park area, it's really hard to get many agents to attend brokers' opens. Most new listings have them, and usually not more than 20 agents will come through, no matter what raffle/giveaway we try. It's usually the same 20 agents at each one. We've had better luck offering a co-op bonus for a quick contract.
0 votes Thank Flag Link Sun Jul 5, 2009
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