After reading a post (written for members only) regarding the value of broker tours, I thought I'd share my thoughts. I can find a positive for most real estate activities and broker tour is one of them. We're listing agents, but we participate in broker tour as much as possible.
There are many benefits that a listing agent can gain by having a presence on tour. There is a great value in using tour to preview properties that are new to the market. Listening to what others might say about the homes will be of value to you in comparing the value of your future listings. Since people buy on comparison, those properties are competition for your current listings being shown by buyers' agents. You need to what your competition is offering.
Town tour is also a great way to network with buyer agents. Remember, they have the buyers, and if they like your work ethic, they will make an earnest effort to show your properties and try to do a deal with you. A good working relationship with agents in your marketplace is always to your advantage. Town tour is a great way to market to buyers' agents.
Attending town tour has a variety of advantages for a buyer's agent, but the most important is that you, as a listing agent, will have a better grasp of current inventory in your marketplace. Town tour will enable you to say you have seen the interior of many of the current homes for sale, even though you are not a buyers' agent showing property. Town tour makes life convenient for listing agents, and most tours even offer brunch!! Where else can you be fed for free, gain knowledge and spend quality time with agents in your marketplace?
Keep an open mind when deciding on whether or not to attend a town tour. With every positive, there's money to be made in the future.
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