Traditional Real Estate Agents are great supporters of Open Inspections, telling their vendors that these are a very necessary part of selling their home.
Open Inspections vs Private Inspections
Agents promote the message, “If you don’t do opens you won’t attract enough buyer attention” you will not sell your home without doing open’s, but Is this true?
- Do Open Inspections attract real buyers?
- Are Open Inspections more effective than private inspections?
The short answer is; not really, however Open Inspections do provide great value for real estate agents. The agent can stand at the door and take names of potential buyers pretending that it is a security measure, however all they are doing is adding to their database.
They then tell other vendors that they have a list of potential buyers for their property when all they really have is a whole lot of names of people who attended an Open Inspection at another property the previous weekend.
Agents don’t need to check if they really are potential buyers, they just say they are because they took their name at an Open and can add them to their ‘List of Buyers’ to tout around to naïve vendors, so they must be.
Open Homes or Open Inspections are a two-edged sword for vendors, they are also a high-risk activity because the homeowner is not there during the open. The vendors have no idea if they are run securely, if their ornaments and small items are safe or even if the agent is carefully watching the strangers traipsing through their home.
Many agents turn up after hurrying from the previous Open, they often say to the people waiting, just have a look around whilst I get everything ready, security is not the highest priority.
Great concept, why don’t they just invite them to steal a few things, whilst they get set up?
The truth about Opens is they often attract a lot of people; however, these people are not all serious buyers, many are out for a day of looking at other people’s houses. Some are up to no good, casing homes and actually stealing items or planning a return visit at some other time. Others are simply searching for an agent to sell their home. It’s common for vendors planning to sell to go around Open Inspections and in effect ‘Audition’ the agent they think they may use.
Agents know this so they promote Opens to throw their net wider in terms of getting new listings. They also often take the opportunity to promote other listings they have to those looking through the Open Home, so it’s no wonder that they don’t want the owners present and overhearing the agent saying, “I have another property that is much better value that you may like to inspect’.
Real Buyers not Open Inspection Browsers
Real buyers, genuine people who really want to buy your house, will have no problem making an appointment with the owner to inspect the property. Yes, the owner! Sell your own house, meet with real buyers and avoid all of these unnecessary problems and save yourself thousands of dollars!