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A broker’s open house is an open house for a property that is targeted towards other real estate agents, as opposed to home buyers. It is used to help agents decide if a property might be of interest to any of their clients, and is a good first step to introducing an available home to professionals and to the community.

On the day of a broker’s open house, visiting agents tour the property with the selling agent, and discuss their opinions with their industry colleagues. They are generally held within the first few days that a property has been on the market to try and capitalize on initial interest, and if there is a change in the listing like a price drop the attending agents are usually the first to know. This strategy is good for homes that you want to get in front¬†of interested buyers as soon as possible, because it cuts out the sometimes extraneous foot traffic that comes with traditional open houses.¬†