To showcase a newly-built, 8,000-square-foot home in the River Oaks neighborhood, one Houston brokerage recently hosted a private open house. Events like these are part of a larger, growing trend: brokerages investing more effort and money into showings. The event, hosted by Nan and Company Properties, included catered hors d'oeuvres, staged international art within the home and a 2016 Porsche Panamera GTS on display. "The current luxury real estate market is pretty competitive, so firms sometimes go the extra mile to draw the attention of buyers who would be a good fit for the home," said Nancy Almodovar, CEO of Nan, in a recent release. According to another luxury brokerage in Houston, Carnan Properties, house parties are becoming one of the most effective ways to accelerate the sale of a higher-priced home. A recent blog from the brokerage notes that "full house parties" are generating record-breaking sales prices, which justifies their expense to either a brokera...
- Full-house parties are an effective way to accelerate the sale of a luxury home.
- Broker-only showings are a cheaper alternative to house parties.
- Leveraging their size, some homebuilders market homes via month-long events.