This insider’s tip is for the Hoboken condo seller. Your realtor doesn’t want you to ask about it and will gloss over it…. And it can make the biggest difference in getting your home sold quickly.
But first… Two shameless plugs for really good free stuff from yours truly, Brian Murray, realtor.
1) 2009 Hoboken Real Estate Annual report. Hoboken market breakdowns on one bedroom condos, two bedroom condos, three plus bedroom condos. A list of every condo that sold in Hoboken in 2009! Yep. It’s Free.
2) Real time Hoboken real estate snapshot. Get the latest on what is happening at an address or in a neighborhood. Yep. It’s free too.
Ok. On with the show.
Sellers…When interviewing your agent, after the pitch. Say “you mentioned the broker’s open house, I’d like to ask a few questions about it”.
See most agents hold broker open houses to let agents preview the property. But they vary widely in effectiveness. And an effective broker open house can get your home sold faster.
Here are some questions to ask about it.
1) When will it take place?
If it is more than a few days after the listing is on the market… RED FLAG…. Maybe your agent is trying to sell it themselves before opening it up to competition that will drive up your price.
2) How many agents do you expect?
3) If you don’t get X many agents do you plan to hold a follow up broker open house?
4) What is your marketing strategy to get agents to the BOH?
5) What are you serving?
Big food spreads (cost your agent about $200) usually bring in more agents than a raffle for $50 (costs your agent $50) or Oreos and water. True. There’s a prominent agent that serves Oreo and water. (costs that agent $10)
If it is a high end property there are several additional questions that should be asked….
Bottom line. This is the most overlooked and under utilized marketing out there. Agents don’t want to spend money. especially to market to other agents. Yet it’s most time another agent who has a buyer for the property.
I hope that you remember this insider’s tip for the Hoboken condo seller when interviewing an agent. BTW, I have the answers.