Hawaii Randy's Real Estate Opinions: Brokers Open Houses are on the Rise

Brokers Open Houses are on the Rise

In Honolulu I am seeing more and more and more broker's open houses in the middle of the week. Open House Sign

The hard part for those holding them is the only available agents are at their own open houses.  I have received notices of more open houses for tomorrow than I can count.

Is this a trend in other states?  If you hold broker's opens have you had success?

My only success with them has been when I have a home close to base to posts signs and catch the military going to lunch.  Other than that they have not been very fruitful for me.

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 7 commentsRandy Prothero • November 14 2006 01:37PM

Comments

Our company holds Broker opens all the time. Usually lunch, sometimes we have  a good turn out and other times zippo. I personally don't think they really work...but the trend in my market is to hold them.
Posted by Monika McGillicuddy, Southern NH & the Seacoast Area (Berkshire Hathaway HomeServices Verani Realty) almost 12 years ago
Randy, I have done several Broker Open's with Realtors.  The ones that have had a lot of Realtors stop by are the ones that the Realtors  know that there is going to be great food at. The other Broker  Opens that have been well attended are the ones for the Realtors that take the time to go to other Realtors Broker Opens, so the other Realtors return the favor.
Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 12 years ago

I used to do them regularly when almost no one else was holding them.  I had some success and and got to build friendships with many agents in the area. 

It also made my clients feel that I was going the extra mile when it seemed like other agents were no doing as much.

Times have changed here on Oahu in the last few months. 

Tomorrow for example we are holding our monthly meeting of the Leeward Chapter of the Honolulu Board of Realtors.  We will get 100 to 150 agents plus lenders, escrow companies, etc.

At the meeting we will feature about 100 to 150 broker's opens that will ne held immediately following the meeting.  Do the math.  Who will be left to visit them?

If I decide to hold one I keep it open a least two hours after the others are done, put out a nice spread of food and invite the other agents to join me after their's is over. 

I am sure I will only get away with that a few more times before we have 100 to 150 staying open late.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 12 years ago

I prefer going to visit open houses on Sundays.  I try to visit at least a few even if I am not showing buyers on that particular day. 

There are a lot of open houses on Sundays but not too many brokers opens during the week.

Posted by 1SG (Ret.) David Kucic, President and Owner (Hawaii Military Realty, Inc.) almost 12 years ago

Today was a good day in Central Oahu for Brokers Opens.  I got in to see a good chunk of the inventory, mingled with most of the top agents in the area had some good refreshments.

They did a smart thing to address the volume of Brokers Opens.  They staggered the times for various communities giving the agents a chance hold their open and then to view the other listings in the neighboring areas.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 12 years ago

Randy, I can't see how there are that many Brokers Opens at one time.  I can see throughout the week counting all the different areas.  We do have over 5000 licensees so 150 actually isn't all that much.  LOL!

One thing for sure, I make sure to either visit them or hold them once in a while just to show face and mingle with your fellow realtors.  I've found it very helpful when wanting something accepted.

Posted by Michael DeMello, CRS, ABR, CDPE, e-Certified (Prudential Locations LLC) almost 12 years ago

Michale, great point!

Other agents in the area knowing me has made the difference in a few cases. 

You reputation and others agents comfort in dealing with you could be the little extra needed to push it through.

I know when discussing offers with my clients.  The agent on the other side is a consideration as to the potential for a smooth transaction.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 12 years ago

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