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#258777 - 11/08/08 03:45 PM Open House, Different company
KT The Realtor Offline
Junior Member

Registered: 08/20/07
Posts: 9
Loc: California
Hi guys
I was wondering how I go about asking an agent from another company if I can hold an open house at one of their properties. I am new and did not even know you could hold an open for an agent from another company. Is there anything I should know? What to ask the agent? etc.

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#258789 - 11/08/08 05:26 PM Re: Open House, Different company [Re: KT The Realtor]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7688
Loc: PA
no, usually you hold open houses for agents within your company.

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#258790 - 11/08/08 05:32 PM Re: Open House, Different company [Re: KT The Realtor]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
I trust you are in an area where it is worth doing open houses; I stopped doing them in my area nearly a decade ago!

I think both you and the agent that you are holding an open for need to make sure it is okay with your managing brokers to do this. I can't imagine why it wouldn't be but better to find out in advance then to run up against some broker policy restriction. I assume the other agent will be looking for the possibility of getting the listing sold and/or have a talking point about marketing effort with the listing client. You should be looking for prospective buyers, if not for that house then perhaps another. You should agree in advance who funds any advertising of the open.

If everyone is on board with the same understanding then this shouldn't be a problem.

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#258795 - 11/08/08 06:02 PM Re: Open House, Different company [Re: Mr. Foreclosure]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3720
Loc: Dayton Ohio
Email them, introduce yourself, and ask. I've done them for agents in different companies before. Some agents will let you others will not.

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#258817 - 11/08/08 10:42 PM Re: Open House, Different company [Re: Mr. Foreclosure]
KT The Realtor Offline
Junior Member

Registered: 08/20/07
Posts: 9
Loc: California
"I trust you are in an area where it is worth doing open houses; I stopped doing them in my area nearly a decade ago!"

I am in southern california. I would think open houses are a pretty good way to find buyers still. Am I wrong?

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#258819 - 11/08/08 10:47 PM Re: Open House, Different company [Re: KT The Realtor]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7688
Loc: PA
I think it depends as much on the marketing as it does the area.

We do Open houses. Our office also has had the most amount of transactions of our direct competitors this year too. coincidence? maybe...but we are the only office that does open houses consistently and on a regular basis.

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#258821 - 11/08/08 11:05 PM Re: Open House, Different company [Re: Perky_REALTOR]
Viktor Offline
Veteran Member

Registered: 09/23/07
Posts: 874
Loc: Dallas, TX
Hm I have never thought about it, but why not if they allow you.
_________________________
Viktor Taushanov
William Davis Realty
Dallas, TX
http://homesforsaleindfw.com
http://northdallas.blogspot.com
Viktor.RealtyBG@gmail.com
http://www.linkedin.com/in/viktortaushanov


I love referrals!

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#258834 - 11/09/08 01:35 AM Re: Open House, Different company [Re: Viktor]
Jeff Adams Offline
Member

Registered: 12/08/05
Posts: 385
Loc: Monterey CA
I'm actually going to start doing this for out of area REO brokers. They are far too busy and too far away to hold open houses, so they are usually happy to see someone volunteer. I see it as a great way to earn trust and sign call referrals (they're not going to drive down here to show buyers property). If I bring buyers to a multiple offer situation, they will remember that I tried to help them sell their listing and hopefully help me get my offer accepted.

In this day and age, there are lots of buyers using the internet to locate new properties without the use of an agent. I've been bumping into several of them when I go out and preview new listings. I think open houses could work if done very early in the listing period.

I asked my broker if it was ok with him first. He told me "anything that brings in business is ok with me. Just get written permission". I've already talked to one REO broker who is willing, he wants me to email my DRE # and some references so he knows who he's working with.

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#258876 - 11/09/08 12:23 PM Re: Open House, Different company [Re: KT The Realtor]
Texas Agent Offline
Member

Registered: 07/14/08
Posts: 357
Loc: Dallas, Fort Worth - TX
Originally Posted By: KT The Realtor
Hi guys
I was wondering how I go about asking an agent from another company if I can hold an open house at one of their properties. I am new and did not even know you could hold an open for an agent from another company. Is there anything I should know? What to ask the agent? etc.


I don't know of any reason, legally or ethically, that an agent cannot hold an open house for another broker. I suppose there might be some intricacies of listing agreements or rules in various jurisdictions that I'm not aware of.

I do think that what's MOST important is that your broker and the competing broker are aware of the situation. While you and the competing agent may be fine with this... your brokers may feel somewhat differently. Check with your broker before doing this.

Good luck!

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#258877 - 11/09/08 12:35 PM Re: Open House, Different company [Re: Texas Agent]
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL
As long as there is permission by your and the listing broker/agent and property owner, it could be a good way to generate business for you.

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