WITH most consumers in Namibia looking online for property, many real estate professionals have stopped using open show days as a marketing tool to sell a home.
Within the property industry, there is some debate among real estate professionals as to whether show days are still a worthwhile step in the property sales process. While some still see show days as an intricate and necessary part of marketing a home successfully, others feel that the marginal success rate coupled with the security risks are just not worthwhile.
Both sides of the argument have their merits, as well as their challenges. An advantage of having a show day is that the home is visible and accessible to the public, with numerous potential buyers able to view the property on the same day. Another positive aspect is that buyers can personally interact with the agent and ask them any questions they may have about the property. The interaction will also open up the chance for the buyer to be put on the agent’s database or make appointments to see other homes within their portfolio of stock.
Depending on the circumstances, having set show days can be less stressful than a view-by-appointment strategy which dominates the Namibian market because the cleaning and tidying is only done once a week, rather than numerous times to accommodate the potential multiple viewings during the working week.
The biggest disadvantage to show days is the potential security risk to the agent, as well as the seller and their possessions. The accessibility of the property is both a pro and con because people can walk into the home at will, making it an easy target and vulnerable to criminals. It is not always possible for the agent to keep an eye on everyone who is looking at the home, which means that valuables can be stolen from the home. There are also those who will come and view the property without any intention of buying, but are merely looking at the home for the entertainment value of it.
When it comes to formulating the actual success rate of show days, it is very difficult because there is different feedback depending on the area and type of property. Each neighbourhood has a unique demographic and dynamics, which emphasises the importance of working with an agent who specialises in the area. Some agents report that nearly all of their sales come from buyers who viewed the home during a show day, while others have not sold a property using this method in years. It all depends on the area and what works there.
Regardless of the method used to sell a home it is important that property owners identify the most effective method to sell the home in the shortest time for the best possible price.
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