April 18th, 2019 Latest News

Open For Inspection: it’s the grand event.

A momentous opportunity to showcase both your owner’s property — and yourself as a real estate agent — to the marketplace.

When it comes to the success of an open home, it’s important to dedicate your time, resources and energy to not only what you do on the day, but the preparation you do beforehand and follow up afterwards.

Here are five activities you should be checking off to execute a successful open home and ensure you not only sell the property — but raise your profile and grow your business too.

  1. Market the property and present it to the marketplace

During your planning stage, identify three specific selling points to present to potential buyers on the day.

The first is, the property and its potential.

You see, only five per cent of visitors will look beyond the property in its current state and see a bigger picture. It’s your job to increase the salability not only by helping them see the existing features, but the potential for relevant changes, additions and upgrades, too.

The second point you need to sell the buyer on is the street.

What is it about the street that makes the property attractive?

An example could be that it is only the second property in the street to have been put on this market this year. Find a compelling fact and put it into perspective for the buyer.

The third and final selling point is the suburb.

What is it that makes this particular suburb attractive to a buyer?

What are the neighbourhood facilities and services? What is the average sale price? How has this suburb improved, changed or grown in the last five to 10 years?

It helps to have case studies to back up these points and support a healthy conversation with buyers on the day.

  1. Present you and your agency to the marketplace

As we mentioned earlier, this isn’t just about opening up the property for inspection. This is you and your agency on show, too.

If you have a potential seller come through the door you want them to see that you are the agent they need in their corner.

  1. Identify hot buyers

Open homes are a fantastic opportunity to not only attract a hot buyer for the property on show but also to identify a buyer pool for all of your listings.

Utilise all visitors — even if they’re the owner’s nosy neighbours or supportive friends — to expand your database.

And remember: most buyers wont purchase the property they enquire on.

That’s why it is your Open For Inspection (OFI) follow up that makes the biggest difference.

  1. Identify potential sellers

Opening a home up for inspection also bubbles other sellers to the surface and gives you new opportunities.

People often need to sell, before they can buy!

  1. Build your profile in the marketplace

Everything you do when it comes to planning, executing and following up this open home should further position you as the leading agent in this marketplace!

If you can tick off all of these steps in the process of delivering an open home, you should experience a fantastic outcome for you and the seller.

Have a discussion with your team about how well you are performing in each area and how you can take your open homes to another level of performance.

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