Hi to all,
I would like to learn your thoughts about free inpection trips.
I sometimes read that there are free inspection trips by agents or developers and I really wonder if it works or not.
This includes flights, transfers, accommodation and all the costs in the location so it is a high amount for a marketing budget.
Is this good for the buyer, is it a chance to have a free, short holiday and visit the properties OR is it a pressure of buying the property?
Do the buyers feel that they become indepted to the agent/developer so at least they say ''we will think of one them when we go back to our home''?
Is it just a white lie?
Thanks for all thoughts.
Cagla
Here are a few things to be aware of:
Beware of Company Credibility pitch. Some agents will give an incredible pitch of how good their company is, how good their rental management company is, how big they are, how many properties they have sold, how many regions they deal in and how easily they will sell your property when you wnat to sell again. This can be a smoke screen. After this pitch people fall into a false sense of ease. Talk is cheap..........they should have written signed evidence of proof of everything that they promise you. tell that to the people that were promise 5% -7 % rental expectations in Sunny Beach and that they will have no issue selling their property with them in the future.
Dont go on inspection trips. There is a reason why they are so cheap. On inspection trips you have little freedom and are nearly at the will of your sales agent. Every sales trick in the book can be used and people usually end up buying and spending far more than they first thought. How could you ever decide in 3 days whether to invest your hard earned money, your future in a place you have spent 72 hours in.............crazy. Beware the man who thinks he can go on a cheap trip, get the info and return wiser without buying. Your are dealing with highly trained sales professionals!
5There is no reason why you cant make an appointment and meet them when you are out there. If they refuse the appointment for whatever reason then you can bet that their prices are inflated and they know when you shop around that you will never buy with them. Some agents get less commision if you go for an appointment (Appointment is where you travel out by yourself rather than solely with one company on an Inspection Trip) rather than on a Inspection Trip so they may say “no” to appointments until the last minute hoping that you will change your mind and go only with them . Some agents dont do appointment because there is a huge risk that you may not buy through them when you have a chance to check the other agencies, then and a “No Sale” shows up on their sales record and hurt their credibility as a top sales person in the company.
6Property exhibitions = Company paying for the transportation of sales agents (sometimes from plane , bus) , accommodation for their staff in hotels, then taxis to and from venue , renting of the venue of Exhibition, Advertisement (Tv, Papers , Radio). This costs a huge amount of money for companies to shell out for exhibitions. Why .......for your details and to get you on a inspection flight. Every persons details that comes through their door is possible commission for that company !!!! This is why they will put you under pressure for your phone number. Don't give them details of your friend who may be also interested. He may not thank you later.
Dont ever leave you Details (name, address, NEVER LEAVE YOUR TELEPHONE NO.) at the entrance to any exhibition and especially dont book an inspection trip on the same day of meeting an agent. People afterwards can get plagued with calls,(some of you will know this to your expense). You can always call them later with their card if you want to. Your details are like gold dust which can be sold to other companies by unscrupulous employees for good money. Every persons details can be worth up to 20,000 euro on average to big big companies if you buy at some stage during your life. This is why big databases are crucial to companies with potential buyers.
A Pencil Pitch is where an agent puts a sheet of paper in front of you and writes down the price of the apartment and calculates the increase in price in year 1 , year 2, year 3 etc. this can cause gold fever in excitable young people and when they see the price of the apartment in 5 years they cant wait to go on an inspection trip ...this is a sales technique.
Silence is a sales technique eg. “So when can you go over on a inspection trip ..................(silence) )” or "So just sign here" This can put huge pressure on the visitor or buyer to say something first and usually the ordinary person will say “when have you got space on your inspection trip” and then an agent will pick two or three dates with only 3 seats left and if you don't go then they are booked up for months and you will miss out (pure sales technique called boxing and closing)...................and then you WILL be asked for you Credit card....Don't ever give you Credit Card ever ever ever to reserve a space (oldest trick in the book) Ask to see where they got the information on the available dates , most wont be able to show you or they may say that they only have 2 seats left on plane that day...I doubt it that they rung the airline.
Its called “getting the clients details, closing the client, controlling the client and box and close” which are worth huge money to property companies. Its thought that if you give a credit card over to reserve a place there is less chance you will cancel....think about it! Unconsciously you have given them a promise. Apparently you are 70% less likely to cancel. Sales trick again.
