Treat your open for inspections as a listing presentation, a leading agent has said.
According to Zac McHardy of Raine & Horne Chermside in Qld, open inspections are a great way to prospect for new clients, and can often act as the first listing presentation.
“Over 60 per cent of my listings come directly from open for inspections,” he told Real Estate Business at last month’s Advanced Real Estate Learning Conference in Sydney.
“Basically agents should be focusing on creating quality relationships through open homes.”
According to the Macquarie Relationship Banking’s 2012 residential real estate benchmarking report, 28 per cent of agencies surveyed said repeat business was where the majority of their new business sales enquiries came from. Another 22 per cent receive enquiries due to word of mouth or referrals, and 17 per cent came from online advertising.
Mr McHardy believes there is a great opportunity to attract new clients via successful open home inspections.
“If you run your open inspections like they are a listing presentation then the second time you go see those clients you already have that rapport built up,’ he said.
“It makes life easier at the second presentation.”
Mr McHardy, a real estate speaker and three times winner of Raine & Horne’s best sales agent award, said prospecting should be the number one aim for agents.
“It is simple, if you don’t prospect then you don’t have a listing, you don’t have a sale and you don’t have the continued communication with the vendors and buyers,” he said.
According to Mr McHardy agents in his area fail to prospect successfully missing out on listing opportunities.
“In my complex there are 72 units and in the two years I have been living there, there has been seven sales and nine listings,” he said.
“I have never had an open for inspection invitation, never been door knocked and I’ve never had a phone call.
“Nothing has been done to let me know if it has been sold, listed or under contract.
“My message to agents is just something is better than nothing.
“Unfortunately that is what I am competing against in my area and obviously a lot of other agents would have similar competitors.
“So just start doing something and you’ll set yourself a part from everyone else.”