Agents: Do You Find Value in the Brokers' Tour?

Let's discuss the value of touring new listings.  Read the comments from around the country on

Lisa Schmitt's blog then post your opinion.  Lisa is a fairly new member of ActiveRain so please follow the link back to her blog to welcome her.

Via Lisa Schmitt (Coldwell Banker Honig-Bell):

Today was tour day in my office. A group of us braved the 25 degree temps and made the rounds. It just so happened that one of the homes was in the neighborhood of a new listing I'm soon taking, so I was happy to see it on the tour sheet.

During the car ride, we were discussing the value of touring our inventory. At times it seems tedious, especially when the northern Illinois weather isn't cooperating! We came to the conclusion that viewing the inventory is worth the couple hours a week we spend on it. Even if the homes are in "cookie cutter" neighborhoods, we have more credibility when we can say to our buyers "yes, I saw that home last week and it has a gorgeous finished basement!" When I was a brand new agent it was an invaluable tool to learn the market...not to mention the learning that went on in the car listening to veteran agents talk. I'm no longer a newbie, but I still find value in this.

What say you? Do you attend the brokers' tour? If not, why?

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20 commentsMary Yonkers • February 05 2010 07:55AM

Comments

Mary....I'm from the old school....my attitude has always been that you cannot sell a home you haven't seen....how can you talk about it to anyone....town tour is done once a week in Franklin and most of the agents from this office participate.

Posted by Barbara Todaro (RE/MAX Executive Realty in Franklin, Ma) about 1 month ago

Mary, Sometimes yes, sometimes no.

Our neighbourhoods are far from cookie-cutter. Our homes are 50 years to 150 years old. Clients really must feel the home to know if they want to make the "compromises" or "investments" in renovations. And so, they have to visit the home. My opinion does not get my clients too far.

But, there are agents here that still do the classic touring and then tout it to their clients that they know all about the homes on the market. I have seen what these agents know about homes and am not impressed just becasue they ran in and out of the home on a Tuesday morning.

My take on touring is that we ahve enough photos online, an agent's description, declaration forms and survey maps are now uploaded in our listings for further information and I can always contact the listing agent for more detail to advise my clients.

I guess it depends where you live and what products are on market in your area.

Posted by John B. Joseph (Groupe Sutton Centre-Ouest, Westmount) about 1 month ago

Barbara--I am with you all the way.  You can't sell something you are not familiar with.  Now of course there are exceptions, but like you I am from the old school.

John--I appreciate your comments here.  You make some very valid points.  Yes, it does depend on your market and how spred out it is.  I guess I have seen too many properties where the agent staged the photos for the virtual tour.  How disappointing to see the property in person only to see the RR tracks or junkyard next door.  Another agent used Photoshop to remove the trash surrounding the house.  I have experienced the benefits of touring first hand both as an agent and as a manager.

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) about 1 month ago

Mary, 

I really like to see homes in the area as much as possible.  Clients on both sides want their agent to KNOW the market.  

All the best, Michelle

Posted by Michelle Francis, Atlanta GA (Tim Francis Realty) about 1 month ago

Michelle--I am with you all the way.  Our clients deserve our best and tour helps us help them accomplish their goals.  Thanks for popping in.

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) about 1 month ago

Absolutely tour is a great thing to do, one it supports your fellow agents, two it is great to spend time with your fellow agents, and three knowledge of the market is huge.

I have put deals together on tour as you start talking about pockets, etc.

Posted by Clason Whitney (Coldwell Banker Pro West Real Estate) about 1 month ago

Clason--Right on!!!  Many deals start with tour.  Glad to meet you.

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) about 1 month ago

Mary...I believe 100% in office tours.  It is a perfect way to learn the inventory and gives you validity when speaking to a prospective buyer.  Infact, I even preview homes that don't make it on the tour sheet just to get eyes on the inventory and really understand the market.

Cosmic Cow

Posted by Carra Riley CRB, CRS, GRI (Carra Riley Inc.- Real Estate Consultant, Author, Speaker ) about 1 month ago

I haven't seen an office tour for years here in Phx - years.  What we do is a multi -office tour of which a title company sponors many times. It is in connection with our MLS meetings and maybe once a month.  We all ride around in a nicely equipped van, talk, network and tour homes.  Not many people participate much these days.

Posted by Anna 'Banana' Kruchten, Phoenix Property Shoppe about 1 month ago

Carra=--ou & I think alike in so many ways.  I used to do the same as an agent and as a manager.  I can't imagine an employee of Lowe's or Walmart not knowing the inventory.

Anna--Phoenix's multi-office tour sounds like a good way to get to know other members and see the inventory.  Too bad more don't participate, but your area is so much larger than Erie.  It seems that the offices in metropolitan areas don't tour very often.

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) about 1 month ago

Mary, This is a great venue to know what is newly listed in neighborhoods, especially for buyers but a home must be seen in person to truly see its features and amenities. It also helps to create relationships between agents.

Posted by Wanda Kubat-Nerdin (Prado Real Estate, St. George, UT 435.632.9374) about 1 month ago

I find it very helpful to see a property for myself.  I try to preview the properties I am planning to show a client.  More than once, I've decided against showing a listing to a client after the preview.  Some buyers are very specific about certain things and the preview keeps me from wasting their time.

Posted by Irene Tron (FC Tucker/1st Team Real Estate in Valparaiso, Indiana) about 1 month ago

Wanda--You are right on both points.  Pictures may attract interest, but nothing beats seeing it.

Irene--Me, too.  I always tried to preview properties before I showed them.  Many times on tour I found the perfect house for my buyers that they wouldn't have looked at had I not told them of the features of the one I had seen on tour.

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) about 1 month ago

I like to do the tours that are done in our small community as much as I can. For me, it is a lot easier to talk about a home if I have seen it with my own eyes. If I am just reciting from the MLS sheet, I can't get excited about it and I believe that the customers do pick up on the lack of enthusiasm. 

Posted by Jim Palmer - Washington County, Florida (ERA Chipola Realty - Chipley Office) 29 days ago

Jim--Tours work so well in smaller markets.  I have a hard time understanding why more agents don't participate.  I appreciate your visit this morning.

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) 29 days ago

Mary - Great. I will go check out her blog as well.. Yes I do value touring. You have to know the inventory to be smart enough to answer questions when they are asked... It is our job and I feel obligated to know my inventory to the best of my ability...  A post worthy of your reblog Mary 

Posted by Robert Hammerstein (Coldwell Banker) 29 days ago

Thanks, Bob

I would have loved having you as an agent in my office.  How the snow in your area?

Mary

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) 28 days ago

Mary - It's coming down like crazy right now it's a blizzard out there.... and thanks for the kind words :-)

Posted by Robert Hammerstein (Coldwell Banker) 27 days ago

Bob--I hope you are safe and warm despite the blizzard going on in your area.  Isn't it great to work from home?

Posted by Mary Yonkers (Howard Hanna/Alan Kells Schools of Real Estate) 27 days ago

When I was new, I thought there must be value in this entire day all us newbies spend  driving around, looking at the top producers' listings. Then, I got a few listings and noticed - the top producers never reciprocated. Hmmmm ... seems THEY didn't see value in it. Now, I tour the ones that I have some interest in.

Posted by Joetta Fort - Realtor Denver Colorado Real Estate (The DiGiorgio Group) 27 days ago

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