“My agent asked if they could do a caravan through my listing, I said sure, even though I don’t exactly know what that means. Please explain!”
A caravan is another showing method that agents use to market your home. A group of real estate agents line up several houses to collectively visit in a day and drive (or “caravan”) to each home in a sequence. The group of agents will spend about 10-20 minutes in each home looking around, most likely listening to the listing agent as they point out some selling features of the house. After a short tour, the group carries on to the next home on the list.
A caravan is different from a regular open house or a private showing in that the public is not invited; only other real estate agents and brokers (similar to a broker’s open house). A caravan allows seller’s agents to market their listings to buyer’s agents. “Why show a house to other agents and not actual home buyers,” you ask? Simply put, by showing your home to another real estate agent, you’re exposing your home to all of their home buyers instead of just 1 buyer at a time. This method of marketing reaches many people by advertising directly to the source.
Caravans are advantageous for agents as well as homeowners. By visiting homes in a caravan, agents are better able to match their clients with more potential homes. For instance, sometimes the listing description of a home will omit information that could be used to reach more buyers. Say someone is looking for a 4 bedroom home and yours is a 3 bedroom; however, it has an office that could easily serve as a 4th bedroom. This information could be easily overlooked and/or not mentioned in the MLS description. A caravan could give your home the upper hand by allowing agents to physically go into and experience your house first hand. When agents recommend listings to visit with their clients, yours will stand out in their mind because they have personally experienced being there.