5 Essential Steps to Hosting the Perfect Broker’s Open

by Chicago Agent

By Peter Ricci

Brokers opens, when successful, are more than just meetings between agents at a home – they are exclusive congregations where agents are introduced to new properties for their clients. With the right audience and the right message, brokers opens can be hugely beneficial for the property in question. But brokers opens are different than open houses, which are open to the public. How can agents host a successful brokers open? Millie Rosenbloom of Baird & Warner, who recently hosted a brokers open at the new Richelieu Flats development on South Michigan Avenue, told us her five essential steps to hosting the perfect brokers open.

  1. Invite Right – When considering who you would like to attend your brokers open, conduct some research on who the most appropriate people are to invite. For her Richelieu Flats brokers open, Rosenbloom contacted three different groups of brokers: first, she searched the MLS for brokers who sold more than $1 million in Michigan Avenue-area real estate, and invited all who applied; second, she sent invitations to the 25 brokers who comprise the LuxeHome 25; and third, she invited some of the city’s top brokers. Then, as a final, personal touch, Rosenbloom called the vast majority of her invite list after she sent out invitations. “I personally made calls to probably three quarters of the people,” she said. “My excitement made them interested.”
  2. Create Urgency – You’ll want your brokers open to be unique, and a great way to accomplish that is to highlight an interesting aspect of the property you are showing. Rosenbloom said that for Richelieu Flats, she stressed that the condos in the development are among the few available that allow the buyers to pick their own finishes, and she used that selling point to, in her words, “create urgency” for the open among brokers, and demonstrate “that this was a once-in-a-lifetime opportunity.”
  3. Be Knowledgeable – It’s imperative that you show a commanding grasp of the property’s features, and that you offer a number of opportunities to demonstrate that base of knowledge. For her brokers open, Rosenbloom gave a detailed tour of the units, followed by a speech that highlighted the aforementioned uniqueness of the residences, and then, to close, she hosted an extensive Q&A to go over any lingering questions about the development.
  4. Raise the Standards – Between open houses and brokers opens, agents have likely attended so many that they seem a dime a dozen; therefore, take pains to make some element of your open shine with distinctiveness. With Richelieu Flats, Rosenbloom went above and beyond with her lunch, basing her menu on past private parties she had attended. In addition to offering fresh fruits, she also served freshly whipped cream, a beautiful assortment of cheeses and salami and, her favorite touch, hot fudge from Margie’s Candies’ Bucktown location.
  5. Follow Up – Once your brokers open concludes, be sure to follow up with all of the brokers who attended. “Nobody ever does that,” Rosenbloom said, who called all her attendees and answered any additional questions they may have had.

The benefits of a well-hosted brokers open derives directly from your personal investment, and by following Rosenbloom’s steps and committing adequate resources, you’ll be well on your way to hosting a successful open.

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