Can A Broker’s Open House Help Sell Your West LA Home?

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Can A Broker’s Open House Help Sell Your West LA Home?

Can A Broker’s Open House Help Sell Your West LA Home?

Have you ever wondered about the likelihood of selling your home at an open house? Open houses have long been considered one of the most important aspects of the real estate business, but many people are unaware of the two types of open houses available and have raised concerns over their level of effectiveness. So, do they really work or are they just a waste of time? This blog post will attempt to answer both questions in one shot!

A Traditional Open House vs. A Broker’s Open House

First off, most people are unaware that there are actually two kinds of open houses. Many are familiar with the traditional open house, in which prospective buyers visit the property, giving agents an opportunity to showcase the home, condo, or townhouse in the hope that it will warm them up to the idea of purchasing it. Typically, these open houses take place on weekends, such as Sundays, when most prospective clients will have the leisurely time available to view the available properties.

The “broker’s” open house, is a lesser-known type of open house, and is designed to introduce the property strictly to local real estate agents. In this scenario, the home, condo or townhouse is not shown directly to buyers, but to agents who tour the home and increase potential exposure of the property to their respective clients. These open houses are also mostly run during weekdays during the regular working hours of realtor agents.

Pros and Cons of a Broker’s Open House

Most real estate agents in West LA such as Santa Monica, Brentwood, and Pacific Palisades are warm to the idea of using broker’s open houses to reel in a greater number of potential buyers. Realtors with many years of experience often agree that a broker’s open house will reach 20 times the number of people that traditional open houses can, since each agent will have the opportunity to introduce the property to their own client list.

Other realtors are more skeptical and believe that the concept of an open house is flawed from the very beginning, claiming that only 3% of open houses yield the immediate benefits of procuring a sale.

However, one thing is for sure…

Open houses do generate a lot of buzz.

For example, a typical open house, whether it is a broker’s open house or a traditional broker’s house in Santa Monica, Brentwood, or Pacific Palisades, will grab the interest of a far greater number of potential buyers than other kinds of marketing. People and agents alike prefer the idea of touring a home live instead of merely viewing pictures of the property in a magazine or using the Internet. The same holds true for most West Los Angeles properties where the benefits almost always outweigh the risks.

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