Open homes

posted in: Information | 1

Open homes are one of the most popular ways to market your home during the selling process.

According to the REIQ, market research shows that properties marketed through open for inspections have a very high ratio of inspection to sale.

A benefit of an open inspection at a set day and time is that sellers do not have to be in a constant state of readiness all day every day. Since they know exactly when buyers will be viewing their home, they can be better prepared and often are more relaxed with the selling process.

The open for inspection is an ideal opportunity to show off your home.

If a property is well-presented it has a very high chance of selling. Also, the ongoing marketing activities that the selling agent organises to support the open inspection ensures your home has the best chance of selling within the prime selling time of 30 days.

But while some sellers may want to stay in their home during open for inspections, they can sometimes cause more than harm than good.

Sellers can sometimes unintentionally risk losing a sale by trying to be helpful and appearing too eager to potential buyers.

Agents are also obligated to minimise the risk of theft or property damage during a property inspection, so sellers can have peace of mind that their home is in good hands during open inspections.

Some tips to best present and secure your home for an open for inspection include placing all easily moveable valuables into a secure, out of sight location; a general clean-up inside and out; small repairs such as oiling squeaky doors and replacing faulty light bulbs; and removing any excess furniture or items causing clutter.

  1. David Lafferty
    The changing face of Open Homes
    Prior to the Internet Revolution, Open Homes were advertised in local print media and that prompted buyers to go and “have a look”. These days print remains a great method of advertising the Open Home however a few things have changed. Prospective buyers now have immediate access to online information, be it quality photography, house plans, suburb reports, wal…k thru video, aerial maps etc. This allows buyers to be more particular and informed when choosing the properties that they are going to physically drive to and inspect.
    Open Homes have also gotten shorter: Gone are the days of the one to two hour time frame, gone is the sausage sizzle, almost gone is the three-quarter hour Open Home. The majority of agents are adopting the half hour Open Home as this brings in the serious qualified buyers and cuts out the “sticky beakers” who were just passing and thought they could waste some time.
    So what does this mean to sellers? It’s quite simple. Your home needs quality information backed up with quality images, both photo and video, combined with prominent marketing in newsprint and internet. This will make your home more visible and hence more attractive to buyers. More buyers at your Open Home means more of a sense of competition and more of a reason for buyers to make a more compelling offer to you.