Showing: Come On In and Look Around
Alright, you advertised and the buyers are coming. Now it's time to show
your property. Your buyers will want to walk through the property
before any offers are ever made - it's time to sell.
Well, you won't actually be doing the selling, your property will. See, because
of disclosure laws you don't
need to be (nor should you be) a slick salesman to sell property. It's not like selling
a car - your property sells itself. Your role is to
set the stage
so that buyers can properly envision themselves in your home.
There are two main methods for showing
real estate property - open houses and "by appointment only."
As with anything there are pros and cons with both of these showing methods.
Open Houses
Well come on in, the door is always open - ok, not quite. There are two different ways to conduct
open houses, public and private. Public ones are typically advertised in the newspaper or other
media, while private ones are by invitation only. Let's start by saying that the public ones rarely
(if ever) work.
When you advertise a public open house you're going to attract many non-serious buyers
who are simply out for a Sunday drive. The number one reason real estate agents have public
open houses is to gain more clients for them to represent - plain and simple. If you decide that
you want to have a public open house, keep in mind that if interested, most serious buyers will
want to come back alone to view the property. So don't be fooled by thinking that an open house will be the
sole method for showing your property.
A better solution is to hold private open houses where you may create invitations,
inviting your family, friends, and neighbors to an open house of your property. Yes,
we know many of these people may be non-serious buyers. However, it is quite likely that
they may know a person or two that is looking. When people see your property, they are more likely to
recommend it to someone they know - probably your best seal of approval.
Keep it simple. Distribute the invitations to neighbors in the surrounding streets.
You may want to consider inviting those buyers that inquired about your property
but have yet to set-up an appointment (make sure you have their phone numbers).
By Appointment Only
One of the greatest things about showing your property this way is that you are
in control. You're capable of screening buyers prior to showing to determine
if they are serious about purchasing your property before they walk through your home.
You will be able to readily answer questions
the buyer may have regarding the property and surrounding neighborhood - be
prepared to answer these questions honestly and openly.
The best thing to do when buyers come to see your property, is to get out of their way. Your
showings will go well if you welcome your guests and spend a minute or two talking about
some of the key features in the property, and allow them to freely walk through your property.
Now, you may want to follow as they walk through, but allow them to freely look in all the rooms
at their pace, as well as open all the closets (have no fear - remember you removed all the clutter).
When you show your property "by appointment only" you will want to create a
schedule so that you can keep track of the names and times for visits. All too often, buyers will
visit properties for fun and never have any intention on buying. Although this is less
likely to happen with this method of showing, it still may be the case. Remember serious
buyers tend to be those who have already consulted a mortgage broker or lender
and understand their financial limitations.
Let Your Property Sell Itself
Providing your visitors with tangible information regarding your property will help ensure
that they can keep your property fresh in their memory. The
best way for buyers to remember your property when comparing it to others they
have seen, is to provide literature about your property - this is key. Your property will
be weighed by the buyer against others before making you an offer - remember, the
comparables?
If you have an open house, take those flyers
you made for the yard signs and put them on the kitchen table for your
guests to take.
If you didn't include it as part of your flyer, be sure to provide your buyers with the
average monthly Cost of Ownership
information so they can have a better idea of the finances necessary to own the property.
When conducting "by appointment only" showings,
give this literature to your guests upon completion of the tour - don't give it to
them before because they will spend more time reading than listening and looking.
The best way to sell your property, is to ensure that you have a list of prospective buyers.
You may need to follow up with those buyers to keep your property fresh in their memory.
Have a guest book and make all your visitors sign the book. Your guest book should contain
the following:
- name
- phone number and/or e-mail address
- date (you can always fill this in when they leave)
Leave it on the kitchen table
during an open house, and as your visitors come through the kitchen (which they most definitely
will do) encourage them to sign the book. When conducting tours, have your buyers sign
it prior to the walk through - serious buyers will gladly and willingly sign, non-serious buyers
will be more hesitant and may not sign. You can use this response to help gauge the
amount of time you will spend on the showing and answering questions.
Let's look at the terms of the sale -->
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