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Reality of OFI's

Discussion in 'Real Estate' started by Jacque, 29th Apr, 2006.

  1. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Did you know that almost 90% of people who walk through open homes are not potential buyers of that property? Amazing, really, and yet another reason for avoiding them when you sell, in my opinion anyway.
    It also makes me extremely nervous when I hear of owners and tenants who've had items such as sunglasses, small ornaments and even loose change (how pathetic is it to steal $2 from a dresser?!) taken, when the agent is too busy and oblivious to what's going on. The sooner they bring in identification entry the better, as far as I'm concerned.

    In the opens that I've visited, there have been several agents who've been understaffed and totally missed people entering the house. Large groups arriving at once are particularly hard to maintain tags on, and who knows what type of people are traipsing through your property?

    By appointment only is still, I believe, the safest and most productive way to sell. I know that tenants can make it difficult, but if you really want the best possible result, negotiate a deal with your tenants (reduced rent in exchange for 24 hr notice with each inspection etc) and then you have a clearer idea of what the market is doing and how many buyers are genuinely interested in buying. The no. of buyers going through opens means very little in determining real interest in an individual property.