Promise Okereke
People looking at expanding the option of their living spaces, particularly for the reasons of relocating to another city, a different part of the city, or seeking a more improved and spacious house yet convenient accommodation for their increased family size always rely on realtors to facilitate the process of getting a ready buyer who is open to buying at the market value, with little or no difference after negotiation. Amongst other reasons, having an open house is another favourable means sellers and their agents can spike the traffic of organic prospects who are interested in the property up for sale.
For cities such as Lagos, Nigeria, homeowners utilize a plethora of means, both in the digital and orthodox manner – through the use of a preferred realtor – to sell off their property . For a matter of urgency, sellers opt for the option of an open house for the following reasons.
Their property has been on the market for too long.
There are a lot of buyers already bidding for the property before it was up for sale. This will allow for the seller to go to the buyer whose counteroffer is closer to their property’s market value.
They – sellers – wish to interact with buyers and vice versa, sharing intimate details of the house that might be more convincing in getting them to buy, such as how the home hold pleasant memory for their family.
However, it is important to note that homeowners who wish to put their property up for sale in Lagos rarely take this route for the reason of exposing themselves to several prospects, who might not be eager to go ahead with the negotiation process. To explore this pathway, especially as a homeowner, here are certain boxes to tick to protect yourself, your home and your business prospect.
Verify the Identities of Prospects
Before a prospect can gain entrance into the vicinity (an estate, gated street, or open residential area) of your home up for sale, there should be a contact list, with their names and available means to identify them later in the future. This is to shut out any attempt of fraud, impersonation, or theft. A digital form can be created by the realtor or agency representing the seller.
Specify Days of the Week
To ensure punctuality and transparency, it is best to specify the days and times the house will be open to interested buyers to avoid perplexity at the time of arrival and inspection. Information on the days and specific times can be specified in the digital form provided for them.
Take an Inventory of Items in the House
While you have other plans to facilitate your open house for buyers, get a detailed inventory of all items – furniture, electronics, art works and other valuables – to ensure none gets missing or swapped. Taking this precautionary step is essential especially if the furniture or items inside constitutes the price the house is going for.
Prepare a Brief Document
The realtor and seller, conjointly is to prepare a descriptive brief of the property for interested parties who will be coming on site to inspect. For ease and accessibility, this can be digital, preferably sent as a document to their email after they have filled out the form they are to access from a QR code.
Put Your House In Order
Without saying, it is polite to welcome guests into clean a home. In this case, you are not only trying to demonstrate courtesy, but it is expected you have a neat home for your prospects to impress them, giving them the best image of the property. If time allows, get the services of a home stager who will bring life to the house.
Viewers Do Not Necessarily Translate to Buyers
Some viewers might not be in the process of viewing your home or negotiation because they are interested in buying. Some might be window-shopping or investigating who their competitors are – if they have an open house close by. As a seller, you have to have an open mind and not raise your hopes high in correlation the number of interested viewers. Focus on those who are particular about asking questions that reflect their dedication to owning and shave-off competitors based on their counteroffers and other factors in your book. Ultimately, there will only be one buyer who will be exchanging their banknotes for your house keys and documents.
Have a Team on Ground
Best to follow the counsel of your real estate advisors which will include having two or more of their team members on site for the open day. Multitasking can lead to the risk of loosing the opportunity of engaging with not just one but more people on the seller’s team, initiating pre-follow-up conversations and questions and paying close attention to what a particular prospect is looking out for in the property.