Broker's Open Houses

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Real Estate

When you list your home for sale, you want it to sell as quickly as possible. One tool you can use to help you do this is the open house. While not every house is the right house to hold open, if yours is (the home is either vacant or is occupied but shows well AND can be empty of all resident humans and pets when potential buyers are walking though), this is definitely a tactic your agent should be using. But did you know that there is an open house specifically known as a broker's open?

A broker's open is basically the same concept as a regular open house except that instead of complete strangers walking around your home, other real estate industry professionals are in attendance. I explain more of the concept in the video below. One minor difference between the two opens that I don't mention has to do with timing. A traditional open house is usually scheduled on the weekend, but broker's opens are usually held during the week, typically on a Wednesday or Thursday.

There are two ways the A Team participates in broker's opens. One is that we work with a title company that coordinates broker's opens for various brokerages in the area, so once a week we get a list of open houses for only real estate industry professionals, but the listings are all over the Tampa Bay area and are represented by all different companies (Coldwell Banker, Century 21, ReMAx, etc.). The other way is via a broker's caravan. This is when a bunch of agents from one office gather together to travel around and visit each other's listings.

No matter how your agent chooses to do it, a traditional broker's open or a caravan can get your home more exposure because the agents who see it can tell all of their interested buyers about your property. Also, agents provide feedback to each other regarding the price and how the property shows, so this type of open house can actually reduce the amount of time your house sits on the market.

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