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REIQ Journal : March 2010
Open house inspections form part of a successful marketing plan and remain an e ective selling tool. A poorly run open home could potentially cost you a sale or a listing. That's why it's imperative to get it right the rst time. WITH THE EMERGENCE of new technology, virtual tours in particular, potential buyers are nding out more and more about the property well and truly before physically inspecting them. An open home can be the 'make or break' of a purchasing decision, which is why agents need to get back to basics - and get it right. Preparation You should aim to get to the property about 15 minutes prior to the advertised time. This time should be spent erecting directional signage, in prominent and strategic locations, and setting up sign boards that display inspection details. Walk through the home and re- familiarise yourself with its features and anticipate prospective buyers' questions and objections. You need to ensure you have printed enough brochures, listing sheets, or other types of handouts that include descriptions and photos of the property. Once you've greeted your visitors, give them your card and a property brochure, and allow them peace and quiet while they inspect the home. During the inspection Open homes are a good source of buyer and seller leads. Create a guest register that includes only one prospect's name and details on each page. Buyers appreciate the privacy and are inclined to o er more information. Ask for their name, address, phone, and email address, and invite the prospect to subscribe to your newsletter. Purchasing a property is an immense decision and prospective buyers need to feel comfortable about inspecting all aspects of the home without feeling rushed or irritated. Always ask the attendees if they have any questions during their inspection -- and always be completely armed with knowledge of the property. It is imperative you can respond to the questions, during the inspection, so the potential buyer doesn't leave without answers required to make a decision and momentum is lost. It's recommended taking someone else with you to conduct the inspection. If you have a dozen people touring the home at the same time, it is impossible to keep up with all of them and it limits your ability to identify serious buyers and focus on their questions. Post inspection Many agents make the crucial mistake of not following-up on open home attendees. You should make a concerted e ort to call each person who inspects the property (and who adds their details to the guest register) to follow-up on their visit. If they aren't interested in that Getting back to basics: How to conduct a successful open home By Brad Kerrisk, Regional Manager / Agency Practice Advisor, REIQ You should make a concerted e ort to call each person who inspects the property (and who adds their details to the guest register) to follow-up on their visit. REIQ Journal March 2010 16 Industry Practice