Holding your own Open Homes
Open for inspections are a great way for people to see your place when it’s at its best.
They can be a great way for people to come and view your home who feel uncomfortable asking for a private viewing…
They do contain a certain element of risk, as you are opening your home to the public. If your property is tenanted then you risk upsetting the tenants by having too many people coming through your property which is also the tenant’s home.
However the pros far outweigh the cons, as it opens up a bigger pool of potential buyers.
Some of these may be ‘tyre kickers’, but this serves a purpose, as other people attending the open for inspections think there is a lot of interest in your home, which will help get the price you want. Saturday’s are always usually the best day for Open Homes (as most people have the weekend off work)
If you conduct opens yourself, you can keep a close check on who is coming through the house and answer questions directly.
Keep in mind the following:
- Print a brochure (available on your listing on salebyhomeowner.com.au) that highlights the best features of your property. This can include photos, potential rental income, rates etc…
- Allow people to wander through your place. Don’t follow them around. Encourage them to ask any questions.
- Be patient. A clever buyer won’t say much, if anything. Don’t mistake silence or very little feedback for a lack of interest. You don’t know what they are thinking until they make an offer.
- For security, make sure you take the name and phone number of everyone who comes through your place and insist on seeing some form of ID such as a driver’s licence. This gives you a list to use to follow up, and is a smart security measure.
- Try to conduct opens with a friend or partner.
- As you are the Owner, you can open the home up more frequently and for a lot longer than Real Estate agents, this gives you a huge advantage on your competition
- Allow a few hours free on a weekend or late in the afternoon, make sure your open home times have been added to your listing online, then sit back and watch a movie at home or relax and wait for potential buyers to come.
Always remember, that Open Homes are very hit and miss. Some days and times work better than others, some areas are a lot busier/slower than other areas. Sometimes the weather might be bad, or its a slow time of the year to be selling in your area (winter is usually the slower periods in most areas)
Open Home Tip #1
Download the SaleByHomeOwner Open for inspection Register & the Letter of offer form
Download the SaleByHomeOwner contact information form and have it on a clipboard with a pen ready to take names. Record all visitors’ details. You will also note that the form requests the buyers’ vehicle license number. This is a safety precaution we suggest you comply with. When doing an open for inspection, you don’t really know who is going through your property. Stating on your online listing that Photo ID is required at the inspections may also ward off any tyre-kickers.
Open Home Tip #2
Inform neighbours of open times
This is just a out of courteousy and helps them prepare for a street full of cars and people. They may even spread the word and help you find a buyer.
Open Home Tip #3
Make the house look its best
Do a last minute sweep, switch on lights, open the curtains, clean any dust, put away clutter such as toys and bikes. Flowers can brighten a dark corner. Make sure the kitchen and bathroom are spotless
Open Home Tip #4
Be prepared with the answers
Some buyers may ask lots of questions when looking through your property. These queries can range from the walking distance to shops, to more structural issues or when the last time the air conditioner was serviced. Questions about strata fees and rates costs are also not uncommon so make sure you check your bills for the latest charges.
If the property is currently your family home, conduct some research as to the possible rental return of your home so that if someone indicates that they are purchasing for investment purposes you are armed with a guide as to what they can expect.
Open Home Tip #5
Be punctual & helpful
Buyers will start arriving at the advertised time. Don’t keep them waiting. Lack of organization may put buyers off your property, giving them the idea that the sale process will be a headache.
Open Home Tip #6
Ask a friend or family member to help
Have a friend or family member conduct the open with you in case you get inundated with buyers. A friend also increases the safety and security.
Open Home Tip #7
Use the Open For Inspection signs
People driving past your street on main roads could be looking to buy, so the Open Inspection Signs available from buyMyplace.com.au are a good investment.
Open Home Tip #8
Don’t be afraid to talk to your buyers
Tell your buyers what you like most about the house and point out interesting features. But don’t over do it. Some people prefer to just be left alone to look through the house in peace and quiet. As buyers are leaving your property you may wish to ask them a few questions such as:
– Do you have any other questions? (Conversation starter)
– Have you looked at quite a few properties in the area? (Find out how committed the buyer is)
– Are you buying to live in it yourself, or as an investment? (To understand their motivation)
– Would you like me to email you a copy of the contract? (Work out if they’re a hot lead!)
Open Home Tip #9
Send your pets on a holiday
If you have a dog or cat you may wish to send them on a holiday with family or your next door neighour. Some people, particularly small children are frightened of dogs.
Open Home Tip #10
Your inspection may be over but there is still work to be done. Read back over the notes that you have on each of the buyers who came through your property. Be sure to email them the contract if you said you would or find that bit of information they were asking for and be sure to touch base with them within two days. You want to make sure that you strike while the iron is hot!