OPEN FOR INSPECTION ( OFI )
It has been said that OFI generates traffic through a home when it comes to market. But surely there has to be disadvantages as well as the advantages to this process.
And yet it is correct to assume the above as it is impossible for a real estate agent or even two of them to monitor all the people as they inspect the home all at the same time. Bearing in mind that if there is only one real estate agent at the front door detailing all the people going through for proof of identity, who is to keep an eye on all the parties as they walk through the home.
Some real estate agents believe that this is a better process as you can control the inspection times rather than having an inspection at all different times of the week, with different prospects interrupting your private time at home.
There is also an assumption that real estate agents conduct OFI to have contact with potential sellers, usually if you are in the market to buy you may also be considering selling your current home.
The reason we have mentioned the above is that there have been incidents during OFI and it is nearly impossible to point the finger to a particular prospect during mass volumes of inspections.
We recommend that if the agent believes there will be a lot of interest with the home there should be several agents assisting the lead agent with the initial inspections, even if they need to control the amount of people inspecting the home all at once. By controlling the amount of people going through, the buyers have a better chance of appreciating the home and the agent can also discuss any issues with the prospects as they are leaving.
During your initial conversations with the agent, if they are recommending OFI voice your concerns and listen carefully. It is always best to make sure that no valuables are left behind during these inspections.