The Future Of Show-Houses As A Fundamental Sales Tool – Here To Stay?:
South Africa, April 2020 – The current lockdown period offers an excellent opportunity if you want to sell your home: at last you can get to all that DIY before it goes on show. But wait – are show-houses still a thing? Paul Stevens, CEO of Just Property, weighs in.
Property viewings are vital – buyers want to get a sense of the space and its potential. Show-houses have traditionally been an open-invitation platform for such viewings. I do not think that show-houses are redundant but the way they are hosted has to change.
Competitor agencies are testing new ways of working, with mixed success. Viewings by appointment and by show-houses are being led by sellers themselves in some cases. My feeling is that owners are seldom completely objective and viewers are seldom completely honest when dealing with owners so, yes, agent-led viewings are still critical.
In terms of new trends we’re seeing, pre-screening of viewers and viewings by invitation only are possible alternatives to the norm, but it’s really in the digital arena where technology has driven change.
Property portals and websites like ours that show properties that we are mandated to sell or let, provide a valuable, time-saving platform for sellers, buyers and agents alike. They allow for preliminary screening of properties and are used by buyers to shortlist the properties that they want to view. With that in mind, I believe that these digital platforms are a critical part of the property marketing toolkit. Think of what people do online as step 1 and physical viewings as step 2 in the oftentimes, protracted and complicated process of finding the right property.
Drone footage and 3D walkthroughs are fantastic additions to the way we market houses. They cannot replace what one gets from a physical viewing of a property but they bring the buyer closer to a sense of what a property is like. The final decision to buy, and how much one is prepared to pay, is driven by emotion. This cannot be fully invoked through a screen.
Technology has almost certainly reduced the number of wasted viewings. With a 3D walk-through, whether in video format or the even more submersive use of 3D virtual tours, buyers get a much better understanding of what a property offers. I particularly enjoy the added transparency: photographs can be taken creatively to accentuate features and distort realities. It’s more difficult to do that with drone footage or 3D walk-throughs. A more honest presentation of a property perpetuates trust, and that needs to be constantly nurtured in our industry.
The extent of such additional services may have financial implications for the seller and these should be discussed in detail when a mandate is signed between seller and agent. Clearly negotiate not only the commission payable but the role players in the property sale. There may be home stagers, photographers, assistants who conduct viewings and more. Sellers should know who will be accessing their property and who will be paying for their services.
Some agents, like Megan Holden from Just Property Port Elizabeth, offer home staging services which help to present the property in the best possible light. And your agent will always offer verbal and written recommendations, which may be as simple as some decluttering and a good clean, or may include advice on minor repairs and maintenance that needs to be done.
If you are planning to do this during the lockdown period, have a look at the free guides on our website, such as the Seller’s Checklist, which details “21 Ways To Make Buyers Fall In Love With Your Home & Pay More For It”.
Putting your house on show does not necessarily ensure that it will sell, though sometimes with multiple buyers in a show-house at one time there may be an element of competition that can lead to healthy offers and positive negotiations. Time-on-market and the condition/ features of a property are what affect property prices the most.
If properties are priced to sell and agents are accurately matching buyers with available properties, show-houses may not even be needed, but every buyer will want time in your home. That is where they make their decision and that is not going to change.
A show-house is a good way to cast a wide net for prospective buyers but what is imperative for a quicker sale is an agent with a strong network, who knows what their buyers are looking for and can accurately match them to the right property.
For more information on Just Property please visit www.just.property or call (087) 550 2258.
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