Broker Preview
Q: What is Broker Preview?
A: Broker Preview is the Opportunity for real estate agents, from every company, to see new homes that have come on the market or to refresh their memory on homes with a price modification or other changes. In Orange County, each area has a set time and day each week. Top agents in the area will block out this time to make sure they see the new inventory. Many serious buyers are quite familiar with the Broker Preview Schedule for the area and will tour homes that pique their interest as well.
Q: Why is it important for my home to be on Broker Preview?
A: Having your home on Broker Preview will give your home a lot of viewings in a short period of time which helps to keep down all the individual "preview" showings that can keep you out of your home for substantial amounts of time. This is also a great opportunity to ask these agents for feedback on your property. The agents coming through the preview are on the front line of the marketplace daily and can offer you a wealth of information in a short amount of time...
Q: Why do you want my property to be on Broker Preview multiple times?
A: This goes back to the old adage, "20% of the agents do 80% of the work." The agents that regularly view the inventory also regularly have their own inventory. Inventory that keeps them in one home on Broker Preview. Some agents might schedule buyer or listing appointments or have other engagements that prevent them from touring that particular week. It is important to give more than one opportunity for agents to see your home. We generally get 20-30 sets of agents/people through the home each preview if the preview is properly marketed. You also never know when an agent will "pick-up" a new buyer.
Q: Sometimes I see that you serve food and drinks at the Broker Preview, is that really necessary?
A: Necessary, probably not, but it actually improves attendance. (There is a button you can check in the MLS that lets agents know if lunch or refreshments will be served and I would be lying to you if I said that it has never swayed me to stop into one of those homes first.) Broker Preview runs from 11-2... Right smack in the middle of lunch and there are more homes on Preview than you can humanly drive to and see. It's better for the agents to snack from house to house (keeping them in the YOUR home longer) than to have them break for lunch and miss out on the 4-5 homes they could have taken a look at instead. It's all about exposure and getting as many buyers (and agents) into your home as possible. You can't sell what you haven't seen!
The marketing of your home is about generating exposure, period. In this market it is equally important to market your home to other agents, regardless of which company they work for, as it is to market your home to buyers. There are simply too many homes on the market to leave it solely up to the MLS. Getting your home on Multiple Broker Previews keeps your home FRESH in the memory of the 20% of agents who do 80% of the work.
Check back later for my posts about "The Office Caravan" and "Proper Marketing of Your Home utilizing the MLS and IDX feeds" which are currently in the works...
For more information about giving your Orange County home the most exposure to buyers when you sell, contact Sandra Carlisle & Associates at (949) 278-4807.
Coastal Orange County Real Estate serving Corona del Mar, Newport Beach & Newport Coast.
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