“Nice Listing”

What’s the best use of an open house — specifically, a Broker open for fellow Realtors?

Selling the house would, of course, be delightful.

But the highest and best use of a Broker Open — in my opinion — is actually for the listing agent to refine and focus their marketing campaign — and not incidentally to test the asking price.

I’ve yet to host a Broker Open — and I’ve now probably done 100, conservatively — where I didn’t get at least one comment or tidbit that helped me distill the home’s unique strengths and tweak (for the better) my marketing theme(s).

Good Feedback

So, what does the listing agent do at at Broker Open?

Mostly, listen.

What are the agents commenting on?

Is their tone critical, or complimentary?

Are they saying anything about the price?

Once upon a time, I tested the price by pointedly asking agents what they thought.

Now, I shut up.

If no one mentions it . . . . .  you’re good.

P.S.:  The ultimate compliment at a Broker Open?  Lots of “nice listing” comments from the visiting agents as they depart.

And yes, there’s a “Garbage in, Garbage out” factor:  feedback from more experienced and better agents — and agents who know the local inventory best — counts more.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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