Broker's tours are showings open only to licensed real estate professionals who attend without their clients. Broker's tours are a chance for real estate salespeople to view your home, ask questions and ultimately decide whether to recommend it to any of their buyers. The tours are scheduled for a fixed time period on a specific date. In most areas, all broker's tours will happen on the same day each week.
Your brokers' tour information should be listed in the MLS so that it's easily discovered by interested real estate professionals. Depending on where you live, you may be expected to offer refreshments or a small-denomination gift card as an incentive for brokers attending the tour. (Be sure to mention that in the MLS tour entry also!)
You should prepare your home for a broker's tour just like you would for a
private showing.
When conducting your broker's tour your guests will arrive individually within the specified time period. Follow these simple steps for success:
- Give an introduction. As you greet each attendee, explain that you are the property owner and that you will guide them through the property. Collect a business card from each person. Reiterate that the home is offered for sale with a commission to the buyer’s agent.
- Focus on buyers' needs. Ask the agent what type of buyers they're representing and what features the buyers will be most interested in.
- Give a room-by-room tour. In each room, highlight key selling features and place special emphasis on the elements that will be most interesting to the agent.
- Offer an unguided tour. Encourage the agent to tour the property independently.
- Wrap up with Q&A. After the tours are complete, reiterate the key selling features of the home and answer any questions.
- Follow up by phone. Call the agents that evening to answer questions.