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In a competitive real estate market, it’s important to use every available tool to sell your home. Two of those powerful tools in Bucks County are the open house and the broker’s open.
What is a Broker’s Open?
A broker’s open house is an invitation-only event for other real estate agents and real estate brokers. No homebuyers or nosy neighbors are invited, just a curated list of the best agents and brokers in your area. A broker’s open should take place as soon as the property is listed. This gives other agents first dibs on seeing the property, finding out if it’s a good fit for any of their clients, and giving them the chance to schedule private showings right from the start.
Before your broker’s open house, you will need to make sure your home is in pristine condition and properly staged to sell. A couple of advantages of a broker’s open are that agents often discuss together what they see as the strongest selling points of the house, and they may sometimes point out areas that need improvement. This feedback benefits you, in that you discover what features are important to other agents, allowing you to highlight them more, while also addressing any issues they point out, making the home more attractive to the agents’ buyers.
If you can “sell” other agents on the charm and quality of your home, these agents are going to be more excited to sell your house to their clients. It is not unusual after a broker’s open house for several very interested buyers to bid on your house before it has been on the market for long!
What is an Open House?
An open house, as the name implies, is open to anyone who wants to see your home. This can include potential buyers, curious neighbors, real estate agents with or without their clients, and even other home sellers who want to take a look at comparable houses in the area.
Like a broker’s open, a standard open house should take place soon after listing (though the broker’s open house should occur first). Because it is open to the public, it is usually held on the weekend, while a broker’s open is usually during the week, leaving the weekend free for agents to work with their clients.
You should plan to leave the property during the open house. Your agent will stay at the house, greet guests at the door, and ask them to sign in and provide some information. This allows the agent to follow up with them afterwards. Your agent will then lead the guests through the home, highlighting various features and answering questions.
The Pros and Cons of Open Houses
The advantages of both these forms of open house are that they attract attention and increase foot traffic, both of which significantly improve your chances of selling your home quickly.
While there are really only advantages to hosting a broker’s open, there are a few disadvantages to the regular open house. Since there is no real way of vetting those who attend, you should take the time to secure your valuables and personal items. While serious incidents are rare, extra precautions can go a long way in ensuring a stress-free event. You may also not wish to have an open house if you’re particularly concerned about your privacy or you have unpleasant or nosy neighbors whom you do not want in your home.
That said, the open house is a very valuable tool for selling your home, and the advantages should be weighed carefully against the disadvantages.
As your real estate agent, I will work closely with you to help you prepare your home for a successful broker’s open house. That could bring you the best potential buyers. After that, we can discuss an open house. Every home is different, every seller is different, and I will work with you to make sure that we sell your house quickly, using the best methods for you and your home.
