Open-houses are a great way to garner interest in your properties and ensure many potential buyers. But, these potential buyers only account for 5-10% of your actual sales.
Though open-houses are held with a positive outlook, most of the times, it ends up becoming a free-for-all weekend entertainment for your nosy neighbours and passer-by’s. This is counter-intuitive as you are spending more than you are receiving. This article is a short guide for you to differentiate between snoopy individuals and serious buyers so that you don’t waste your time!
A lookie-loo or a snoop would just push open the door and walk in without thinking twice while as a serious buyers would be slower in nature. He would try to assess every aspect of the house, from the door to the walls. The snoop will try to impress and be fast while as a serious buyer would ask the right questions and be patient.
A serious buyer would also be somebody with kids, grandparents or in-laws. When it’s a family, it usually means serious business as lookie loos would not bother with bringing an entourage with them.
Another way to differentiate would be by judging the answers to simple questions asked. Lookie looks would go into excruciating detail when asked a question, as if to substantiate their presence. While as serious buyers would keep it short and sweet.
A real buyer would also be somebody who is looking to move in right away without making major modifications. But, if you find somebody rambling on about how a lot needs to be changed in terms of tearing out walls, bathrooms, kitchen interior etc., you have got a lookie loo.
Couples who look for houses together may often be fighting or arguing, this is a true indication of serious buyers.
When caught or questioned heavily, lookie loos will either outright deny or argue ferociously. While as serious buyers will be clearly offended. It is a good idea to never out rightly question an individuals’ presence as that can be bad for business. It is better to figure out the serious buyers and stick to them. Once the nosy neighbours realise they have been ignored, they will leave.
As a realtor, time is money, and this is heavily realised when organizing open houses. Hence, it is ideal to have a guide in place to help you navigate. Be open to all audiences, but differentiate the ones who can become potential clients. Keep your wits with you and only engage in dialogues which will lead to a successful transaction or at least an exchange of business cards.
The next time you have an open-house, just count the number of lookie loos you can identify, it will surprise you but also help your business grow by efficiently managing time!
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