While a broker’s open house is designed to show a preferred property to other agents so they in turn can review their own client rosters for a potential buyer, there are also a number of career-building benefits to be had.
Harness the Power of a Professional Network
Unlike a regular open house, where everyone can walk in, including looky-loos and nosy neighbors down the block, the broker’s open is more like a special members-only real estate event. While you primarily want to ferret out the perfect buyer-match, a successful broker’s open can also enhance your standing as a major player in the industry and build your professional relationships and brand.
But perhaps the biggest immediate benefit is the opportunity to receive feedback on your listing. Forbes agrees and in a recent article says “The pros touring your home know what the current market looks like,” and are likely already familiar with similar homes and the neighborhood and can share their own valuable insights on the property, its condition, pricing and other important metrics.
Create the Correct Ambiance
Because your guests may be part of a broker caravan with other visits on the schedule, or have other reasons to do your event expediently, make sure your event choices are flexible and experiential. The date should fall on a weekday during a 1–2-hour window between 1 and 6pm—leaving agents free for their own weekend open houses—and, save the extravagant food situations and lengthy presentations for your high-end clients. Think pop-up pace. Here are a few agent-friendly event ideas:
- Your invitations should go out about 5 days before the event and include key features of the property, photos and pricing. This allows plenty of time for real estate professionals to add it to their schedules.
- Have 220 forms (Cooperating Compensation Agreement) pre-signed by your seller and at-the-ready.
- Prizes and raffles are always a huge draw and can get more people in the door.
- A photo booth or Instagram-friendly backdrop like a step-and-repeat adds interactive fun for fellow realtors who are there to support you. Everyone loves content-worthy photo ops.
- Be sure to offer high quality refreshments such as wine, mimosas, and cocktails, and walk-around hors d’oeuvre appetizers or small starter plates.
- Practice a quickie presentation that will make an indelible impression of the property’s best amenity. Many high-end properties have unique features not readily available and you want your guests to walk away with ideas to intrigue their clients.
- Shoot for an inviting vibe where networkers feel free to talk shop while also touring your listing.
- Swag, such as branded pens and keychains that guests take home not only helps them remember your event, they can pass it along to clients.
Florida Bar Board-Certified attorneys David E. Klein and Guy Rabideau have the expertise and experience you need to ensure that your interests are protected throughout your high-end real estate transactions. Contact Rabideau Klein to discuss the legal implications of your next Florida property transactions.