Property Tours | Broker Opens

Property Tours (sometimes called “Broker Opens”) are a great way to get lots of feedback for your sellers in a short period of time. A secondary benefit is more exposure for the property, but you can assume that everyone at the tour is aware of the property since it’s in the MLS. During the pandemic boom from 2020-2022, property tours basically went away. Everything sold so quickly that there was no inventory. Property Tours are now making a comeback!

~~~~Here’s an ABOR-provided link of all property tours in the area~~~~

Property Tour Format + What to Expect

These tours are usually hosted by a vendor like a mortgage lender. You’ll meet somewhere in the morning (usually 8-9) and coffee/breakfast is usually provided. Your seller needs to be aware that they’ll have to vacate the property for ~30 min or so during a ~4-hour window, but you won’t know a better time range until you meet for breakfast. At the breakfast, everyone stands up and talks about their listing. A sheet of all listings is handed out, which is the order that everyone will tour the properties. You’ll then know a better window that you can provide your seller. Some property tours provide vans that everyone rides in and some rely on agents to carpool and figure it out on their own. A nice side benefit is that you get to know some of your colleagues and you get to hear their perspectives on the market.

What Do You Gain?

The property tour organizer will hand out feedback sheets to everyone. Everyone is asked to go to every property (it’s a serious jerk move to skip out on listings after you get feedback on yours.) Everyone provides written feedback, which you can then deliver to your seller. When you talk about your listing at the breakfast meeting, you can let people know if you have specific feedback concerns – price, buyer objections you’d like to know if you should spend money to fix, etc…