[Seller Tips] What is an agent/realtor open house?
By Warren McNeil
An agent/realtor open house is when a realtor hosts an open house for other realtors. This type of open house can really help expose your home to other realtors that may have clients looking for homes such as yours. Realtors often have clients who work 9-5 or night shift who can't view homes during the week. Realtors often spend time during the day previewing homes for their clients to help cut down some of the legwork. Their primary goal is to find their buyers the right home in the least amount of time.
We have hosted an open house in the past and had a buyer walk in and put in an offer. This made our seller very happy. This buyer might not have purchased the home if we didn't hold the open house. Something that is more common is when an agent previews the house, then follows-up with a showing to their buyer and puts in an offer. Similar to our experience with the buyer that walked in, if the realtor didn't have the open house, then the buyer's realtor might have overlooked it.
It is not uncommon for refreshments to be served at an agent open house. Agents are social beings and need to be fed. Snacks are always a nice touch for a realtor holding an open house.
Other advantages of having an agent/realtor open house are:
* feedback on price or condition of the home. Helps with positioning the home on the market.
* instant exposure to other realtors and their clients
* potentially sell to prospective buyers
* rather then having single scheduled showings, you set the schedule to have multiple showings during a predefined block of time e.g. 10AM-12PM
* can help get people/realtors talking about your house which could ultimately lead to a sale
In summary, the agent open house is just one more way to expose your property so that you sell it as quickly as possible. You should always take full advantage of the services that your real estate professional offers.
"The goal is to sell your house, not list it."
Thanks for reading!