Wednesday is a typical Broker's Open House Day in Dutchess County NY. Agents can find these open houses by looking on the Multiple Listing Service; although, not all agents make use of this tool. Most agents will send out email invitations and now and then you will get a direct phone call.
Last Wednesday I saw several homes and each was a different style and price range. I got to thinking about those sellers, although they are in the minority, who refuse to have any sort of open house; to me that is like shooting themselves in the foot.
So here are 5 reason why a Broker's Open is a must:
- By holding a Broker's Open House many agents will see the house at once and this will cut down on the number of calls from agents wishing to preview the property for their buyer clients.
- If you and your agent had a disagreement on the best price to list the property, agents will provide feedback on how they feel the property is priced in relation to the existing market. Carefully reviewing all feedback can help you and your agent . Sometimes right after an open house there will be a price reduction and that's not an accident.
- Agents will also give feedback on property condition and sometimes will volunteer additional ideas on what could be done to make the property more saleable.
- When agents come to the open house it will be easier for them to recommend your home to a prospective client. It is not uncommon for an agent to call a client right from the open house to let them know that the property matches their criteria so they should make arrangements to see it ASAP.
- A Broker's open house is a marketing tool, Keep in mind that most buyers still seek the assistance of a real estate agent.
So if you resisted having a broker's open house in the past maybe you should reconsider, as doing so could get your property sold sooner.