Realtor Tours? Do they work?

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Real Estate Services with Whitecomb.com, LLC
I was just wondering about Realtor Tours. When I had my house for sale some time ago, my agent recommended having a realtor tour that was open to area agents on a specific date/time. I wasn't there to see the results, but I was told about 13 realtors attended. My realtor was present and actually cooked a quick meal for those who stopped by (I was glad as I got the left overs and she was a great cook..).

So, I thought about this today and gave her a call to ask and to see how she was doing. I asked her if the buyer who bought my home came from an agent who attended the tour. She didn't remember, but didn't think it was the case. What I thought was going to be a quick phone call turned out to be a 45 minute conversation.

In either case, how effective are realtor tours? Are they used by most realtors or only as needed or dependent on the actual realtor's marketing strategy? Do realtor tours end up bringing in the buyer or are they typically just social gatherings? Just wondering.
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Rainer
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Sean Purcell
CQ Financial Group

I sponsor the Broker's Open (aka Realtor Tour) at my local Board and I think it is of tremendous value.  It may not always help sell a specific home, but it improves the functioning of the market in many ways.  By getting the brokers out to see homes they get to know the "inventory" and that increases their professionalism and knowledge base. The homes are normally "pitched" first which helps other agents know more about the home and why it is being sold.  On top of that, the Realtors get to know each other a little better and this can help tremendously during negotiation.

Realtors never know where a buyer is going to come from.  But if they are good, they play the odds.  85% of all transactions begin with another agent.  If the truth be told, other agents should be the target of advertising and marketing in order to sell a house.  The Broker's Open is a primary tool for that strategy.  Hope this sheds some light.

January 12, 2007 12:22 AM
Rainer
5,664
D. Comber
Whitecomb Dot Com
Whitecomb.com, LLC
Great comment Sean, thanks for the info!
January 12, 2007 12:38 AM
Anonymous #3
Anonymous
Chris Self

I just made a post about listing tours. We have a slightly different view out here in Arizona. Check out my post at www.YourTitlePartner.com

September 24, 2010 11:53 AM
Anonymous #4
Anonymous
Jason Nazzaro

Realtor tours are for agents who have no business, customers and who are looking for a free lunch.   Complete waste of time and I won't do them.

 

www.JasonNazzaro.com

 

January 13, 2013 07:48 AM
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Rainer
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D. Comber

Whitecomb Dot Com
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A blog dedicated to non-real estate agents and designed for consumers in selling and buying a home.