I'm seeing a lot of sellers who are convinced that a broker's open house is proof that their agent is working hard. One seller recently seemed pleased that they received good comments from a broker's open. Personally, I have never had a brokers open in which the seller didn't receive "good comments." This is not the best way to receive honest feedback, in my opinion.
The following is based on past experience when I used to work for other National and local owned Real Estate companies…
I also have never SOLD a house at a broker's open, nor has an agent stopped by any of my broker's opens and said "I'm so glad you had this broker's open--I don't use the MLS and I don't have a computer, so I would never have known about this house if you hadn't done this! I have the perfect buyer for you! Let me bring you an offer today!!!"
Do you see what I'm saying here? Let me give you some further specifics: There's a very large brokerage who sends out their agents on caravans to broker's opens. The purpose of this is to fulfill the wants of the brokerage with regard to making sure their agents "get out there and get some exposure." This brokerage feels that the more an agent sees what's on the market, the more knowledgeable this agent will be with regard to market conditions. Makes sense. But this has very little to do with actually matching up a specific property with a specific buyer. There's yet another group of agents who make the rounds of broker's opens BASED ON WHAT FOOD IS BEING SERVED. At a broker's open with a luncheon, I overheard one of them ask what was for dessert--exactly 48 seconds after walking in the door.
A Broker Open House is an outdated waste of time designed to make the seller feel good. Busywork doesn't get the house sold.
Its the buyers you want not the agents.