“How important is it to have a broker caravan when selling a home?”
(A broker caravan, aka “broker open house” or “broker tour”, is typically a 2-3 hour period where a home is open for Realtors to come through and see it.)
If you asked me this question 15 or more years ago, I’d tell you it was critical to do a broker caravan. Back then, if someone wanted to see what a house looked like, they actually had to go INSIDE.
In the good old days, we’d routinely get 30, 40, even 50+ agents through on a caravan!
Now, with that thing called the internet, you can often get a good idea of what a home is like by seeing the 15-25 photos the agent posted.
Sure, it’s not as good as going inside. But you can view photos of about 50 homes in the time it takes to walk to the car, drive to a house, get out, walk around, get back in the car, and drive back.
So now my answer is, “It depends.”
Most neighborhoods or zip codes have their own caravans. Some are well attended and others aren’t. And some don’t even have one at all.
If your home is in an area where the caravan is well attended, then by all means put the home on the caravan.
If not, then it’s not worth the time and trouble to sit for 3 hours only to have one agent come through.