I interviewed 4 brokers a few months back, when I was considering selling my apt. The one response that I kept hoping for (slash the one that would have earned any given broker my listing) was this, for simplicity sake I have made up specific details: I plan to cold call every Corcoran Open House attendee of 2 - 3 bedroom apartments within your price range, within a 20 block radius of your... [more]
I interviewed 4 brokers a few months back, when I was considering selling my apt. The one response that I kept hoping for (slash the one that would have earned any given broker my listing) was this, for simplicity sake I have made up specific details: I plan to cold call every Corcoran Open House attendee of 2 - 3 bedroom apartments within your price range, within a 20 block radius of your apartment, within the past 4 months."
On a $2m listing, the commission certainly justifies a bit of outgoing sales (not just outgoing marketing) on the part of the listing broker.
SO - brokers - please tell me why no one suggested this. Are you not allowed? Do the leads collected at - say a Corcoran Open House - only belong to that specific Corcoran listing agent and not the entire business? Could another broker not access those leads?
Thanks!
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Response by jeffk
about 17 years ago
Posts: 7
Member since: Aug 2007
Hi Scoots,
The answer is quit simple and you answered it already. The sign-in sheets at Open Houses are not distributed to other brokers within the same company. This is mostly to protect the seller of the property. He/she would not want their list of prospective buyers to be contacted by another broker representing another property! Also remember that Corcoran (and indeed all agencies) are made up of independent contractors...in shor; most brokers are territorial of their contact list!
Hope that helps!
Jeff Krantz
jeffk@ccrny.com
The Krantz Group
A Division of City Connections
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Response by front_porch
about 17 years ago
Posts: 5325
Member since: Mar 2008
I know I'm going to catch h*ll for this, but open house attendees don't often buy apartments. They may EVENTUALLY, but usually the person who is further down the path is going to come in on a private appointment, whether with or without a broker.
So a stronger approach -- which I sometimes use in my listing pitches and often in my work -- is to run a scan of what apartments in your area and your price range SOLD in the past XX days, and then to pitch those listing agents with your listing, and let them bring in their customers.
You'd be fishing in a pool stocked with bigger fish.
ali r.
{downtown broker}
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Response by secretagent
about 17 years ago
Posts: 1
Member since: May 2009
Hello there, Scoots.
I'm a Corcoran agent and what JeffK said above is certainly correct -- the open house sign-in sheets are not shared company wide. However, one of the things we can do - and I would do - is contact the listing agent for comparable properties within that 20 block radius to see if they have anyone for your property. Even if they're not actively following up with those buyers (they should be!), it's kind of like an invitation for easy money -- and you know how much RE agents love easy money. And let's be brutal - ain't too much of that goin' around these days!
OK, taking my tongue out of my cheek now. It's true, though, that everyone has to work much harder today--we gotta be quick and creative and work our butts off and tenacious. Gone are the days when one open house would bring 50 attendees, 20 offers, and twice the asking price. Instead of having a listing for a month from signing of the exclusive to closing, it's more like 6. It's a buyer's market - no doubt about it.
Hope that helps. Did you pick someone?
Good luck with it!!
secret {real estate} agent
;)
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Response by scoots
about 17 years ago
Posts: 327
Member since: Jan 2009
Thanks, these are all very fair responses. (btw - I wish one of the 4 I interviewed suggested the reasonable idea that a number of you did: contacting the listing brokers of comparable properties).
I haven't bought a place since 2004 and I have never been contacted by an Open House rep about a comparable listing. Are you really making these calls now? I should go to 5 OHs and see if I get any calls or emails about comp apartments!
PS - didn't meant to pick on Corcoran, I just needed to use an agency name so I picked that one!
Hi Scoots,
The answer is quit simple and you answered it already. The sign-in sheets at Open Houses are not distributed to other brokers within the same company. This is mostly to protect the seller of the property. He/she would not want their list of prospective buyers to be contacted by another broker representing another property! Also remember that Corcoran (and indeed all agencies) are made up of independent contractors...in shor; most brokers are territorial of their contact list!
Hope that helps!
Jeff Krantz
jeffk@ccrny.com
The Krantz Group
A Division of City Connections
I know I'm going to catch h*ll for this, but open house attendees don't often buy apartments. They may EVENTUALLY, but usually the person who is further down the path is going to come in on a private appointment, whether with or without a broker.
So a stronger approach -- which I sometimes use in my listing pitches and often in my work -- is to run a scan of what apartments in your area and your price range SOLD in the past XX days, and then to pitch those listing agents with your listing, and let them bring in their customers.
You'd be fishing in a pool stocked with bigger fish.
ali r.
{downtown broker}
Hello there, Scoots.
I'm a Corcoran agent and what JeffK said above is certainly correct -- the open house sign-in sheets are not shared company wide. However, one of the things we can do - and I would do - is contact the listing agent for comparable properties within that 20 block radius to see if they have anyone for your property. Even if they're not actively following up with those buyers (they should be!), it's kind of like an invitation for easy money -- and you know how much RE agents love easy money. And let's be brutal - ain't too much of that goin' around these days!
OK, taking my tongue out of my cheek now. It's true, though, that everyone has to work much harder today--we gotta be quick and creative and work our butts off and tenacious. Gone are the days when one open house would bring 50 attendees, 20 offers, and twice the asking price. Instead of having a listing for a month from signing of the exclusive to closing, it's more like 6. It's a buyer's market - no doubt about it.
Hope that helps. Did you pick someone?
Good luck with it!!
secret {real estate} agent
;)
Thanks, these are all very fair responses. (btw - I wish one of the 4 I interviewed suggested the reasonable idea that a number of you did: contacting the listing brokers of comparable properties).
I haven't bought a place since 2004 and I have never been contacted by an Open House rep about a comparable listing. Are you really making these calls now? I should go to 5 OHs and see if I get any calls or emails about comp apartments!
PS - didn't meant to pick on Corcoran, I just needed to use an agency name so I picked that one!