Over time we all become conditioned to how things are done; “but it’s always been done that way”. Acceptance of poor practices can be surprisingly expensive. Take Open Inspections. Typically agents open a property up twice a week for about 30 minutes. Buyers are expected to be there to inspect if they want to view the property. Sometimes but not always, the agent will arrange an individual inspection if the buyer simply can’t get there and appears to be the real deal.
The benefit to the agent is the simple efficiency of everybody having to fit into the agent’s timetable. Also, it is a great way to collect details of potential sellers (many will have to sell to buy but haven’t committed yet) without having to do the hard yards of prospecting. It also helps create the competitive atmosphere when buyers see other possible buyers also showing interest.
But what about what is best for both the buyer and seller? Permitting absolutely anyone who wants to look at a home for sale lets neighbours, “lookers” and thieves check out the property. Thieves? Absolutely. As the following article details, there is clear evidence of theft being associated with “opens”. Whether at the time of the inspection or shortly after. The open provides the perfect excuse to “case the place” without raising suspicion. Did you know that theft at the auction may not be covered by insurance as the thief was “invited into your home”? And buyers? Real buyers? Well what about their timetables and when they can actually arrange the time to inspect without totally disrupting their lives?
Whilst not quite as convenient for the agent, private inspections, with qualified buyers, is a far superior way to sell a home. It largely removes the danger, is far more convenient for the client and permits an actual discussion between the agent and the buyer. Owners can and should insist that this is the only arrangement they will accept. Agents will then fall into line because they will have to.