Home
Selling with an Agent
FSBO
FSBO Action Plan
Reasons for Selling
Research the Market
Pre-Sale Home Prep
Property Value
Support Network
Conveyancing
Marketing your Home
The Sale Cycle
Contracts & Forms
Open Houses
Dealing with Agents
Handling Obstacles
Negotiating
Post Sale Period
Products & Resources
Related Links
News  & Media
About / Contact Us
 

Holding an Open House Inspection


The question most asked by home sellers...
"Is an Open House important, and do they really work?"

To answer the first part...yes. And do they work?...yes and no. You see...an open house usually forms only one part of a good real estate marketing plan.   And the objective of a marketing plan is to attract as many buyers as possible in order to find the right 'one'.

Here's some food for thought...The larger area (types of advertising) in which you spread your net, the more buyers you you are likely to attract. You don't know where the right buyer is going to come from.

What you need to know to hold an Open House Inspection

1. Before the Open Inspection
2. Important Tips for Open House Success
3. Common Concerns for Home Sellers


Before the Open Inspection

Step 1: Determine over how many weeks you will hold your real estate open house, e.g. 2wks, 3wks, 4wks, etc.
Step 2: Decide what day/s of the week, and at what time/s, e.g. Sat 11am-12pm, etc.
Step 3: Book your advertising giving the date/s, day/s and time/s.
Step 4: Have your sale documentation ready beforehand, and out of sight.
Step 5: Ensure your home is ready to receive visitors.
Step 6: Have a real estate OFI (open for inspection) sign ready and put out for display.

If you are using an agent, they will take care of advertising, real estate contracts, and OFI signs. If you are doing FSBO, you can purchase a real estate OFI sign from the office of your State Real Estate body. If you are using an FSBO online marketing firm, they can usually supply an OFI sign as part of their services.


Important Tips for Open House Success

* Keep your home neat & tidy. It doesn't have to be immaculate, but should have an atmosphere in which visitors feel welcome.

* Fresh flowers are great to lighten and brighten your home.

* Having a pleasant smell wafting through your home adds to the overall atmosphere. Try brewing fresh coffee in winter; burning incense 'before' visitors arrive; and try electrical socket 'plug-ins'. Use subtle fragrances and try to avoid overpowering ones.

* Have an 'open-house sign-in sheet' ready at your door. Put in place a strict policy that all visitors must complete the sign-in sheet before they can inspect your home. The open house sign-in sheet forms an important record of buyers, as well as for security purposes.
If you are doing FSBO, the register doubles as a 'pre-qualifying' and 'sales lead' tool, to allow you to follow-up on serious buyers.

* It's a good idea to have marketing brochures of your home, showing photos, price and description. Many buyers may be viewing more than one property, and by the end of the day they can get confused about which homes they've viewed. By giving them a brochure at the same time they complete the open-house sign-in sheet, it keeps your home in the forefront of their mind and they perceive your home has more to offer.

* For added security, try to have at least two people present during an inspection (especially for FSBO). Male and female are a good combination.
However, it doesn't mattter, as long as both have a good rapport with each other and show a united front. While one is busy conversing with buyers,the other should be observing and keeping an eye on your home and belongings.

* (FSBO)Ensure you talk to prospective buyers individually if possible. By welcoming visitors, introducing yourself and telling people you are the owner/s, you'll put most people at ease, and this will often get you started in conversation. Telling people you are selling privately also gets their interest.

* (FSBO)Try to find out more about the buyers, and use probing questions to gather information about what they are looking for in buying a home. By building rapport, the more information and knowledge you can gain, and better your negotiating powers.

* Relax, have fun, and be yourself!


Common Concerns about Holding an Open House

"Buyers might be 'casing' our home and return to rob us".

* There have been instances where this has happened, however the percentage of actual robberies which do occur in relation to the number of open homes, is neglible.

* (FSBO)As suggested in the tips, by having at least two people at your open house, you are more likely to notice strange behaviour. If something doesn't feel right about a person and they are acting suspiciously, you do have the right as the owner to ask them to leave.
Maintaining an 'open-house sign-in sheet' which buyers 'must' sign before inspecting your home, should also help deter would-be thieves. Requesting identification can also act as a deterrent.

* Remember to keep jewellery and valuables locked away and out of view. Any financial documentation, such as bank statments, etc should also be put away out of view.

* Ensure that visitors cannot exit your property without being viewed. They should be exiting the same way in which they entered your home.

* For home sellers using an agent, ask the agent how they will be conducting the open house. Check how many agents will be present and ensure they have a security procedure in place for during and after the open house.

"You only get tyre-kickers and nosy neighbours at Open House inspections"

* Yes...it's a fact of life. This can and does happen. Again, by using some of the tips offered, you will often deter the tyre-kickers. Nosy neighbours can be helpful, especially if they like to talk to other people and advertise for you for free.

* By using an 'open-house sign-in sheet', and communicating with buyers, you should be able to pick up vibes as to whether they are serious or not. You won't always get it right when picking people, however you will learn very quickly how to 'pre-qualify' most buyers (if using an agent, they should be experienced at this). Once you know who is serious and and who isn't, you'll know who to spend time talking to.


For an open home inspection, as with any form of real estate marketing and advertising, there are pros and cons. What you should be looking at as a home seller, are the positive outcomes of each type of real estate advertising.

Also, by keeping a written record of the results, you will have a better chance of determining what form of advertising works best for you and your home. This way, you're not wasting money on advertising which isn't working. And whatever works, keep doing it until it either stops working for you or you find the right buyer.

If a real estate open house is not working for you, look at genuine reasons why it may not be working, review your overall action plan and keep moving forward. If you are using a real estate agent, discuss the results of your open house with the agent and get feedback, so you can decide how to then proceed.


Return from Holding an Open House to Home Page


footer for open house page