How to execute a smooth pre-settlement inspection
Updated: Aug 29, 2019
Making a huge financial decision by purchasing off the plan can be very scary and exciting at the same time. For avid investors and first home buyers, it is a glimpse into the future. Many years can pass from the purchase to settlement and much momentum and excitement can be lost. Though, the near end of construction brings the buzz and joy of settlement.
For the developer, pre-settlement is the first time you will meet the purchasers and the most important first impression you will ever make. This is the time to create the wow factor for purchasers by heightening their experience and expectations for the pre-settlement inspection day.
From the first decision of setting the date, to the final walk through on the pre-settlement inspection day, there is so much involved in the smooth and flawless execution of a pre-settlement inspection. The key to it all is communication and organisation! In our experience of planning and executing hundreds of pre-settlement inspections, we have learnt a few lessons along the way. Here are a few tips from us:
#1 Make it simple and easy
Buyers have been anticipating the inspection of their purchase for some time now. The first point of communication when inviting them to the pre-settlement day will be exciting and filled with emotions. It is here that we need to pause and think, how can we make this simple, easy and exciting?
Start with your first communication, the eDM needs to be simple, in plain English, which any person from any cultural background could understand. Ensure the landing page is integrated so that bookings can be made instantly, with immediate confirmation and provide a taste of what is to be expected on the day.
Don’t forget the finer details and learn who your purchasers are. Find out if they have dietary requirements, if they are bringing family, if they will be present at all on the day. The fewer assumptions made, the better the day will be executed.
#2 Setting Expectations
It is essential to have clear and open communication with your purchasers. All parties should understand their obligations on the day and what to expect from the experience. When dealing with purchasers it is extremely important that expectations are set and simple for them to understand to keep the day on track and as smooth as possible.
1. Ensure that purchasers are greeted, signed in and welcomed to their appropriate representative for their walk-through session.
2. Each representative needs to communicate the schedule of events for the walk through session. This includes the duration of the walk-through, the process of identifying and recording defects, viewing the building facility and access points, registering and speaking to strata and amenity suppliers and meeting the developer’s team.
3. Prepare purchasers for what is next. Make it simple by preparing an information pack with all essentials for the day and what is to happen next. The packs should provide information on settlement in the upcoming weeks, referrals for organising additional furnishing and key handover procedure.
Communication is key, especially with off the plan purchases. Setting expectations with your purchasers upfront ensures that you mitigate any surprises should something not go as planned.
#3 Building the purchaser experience
To this point, purchasers have only seen their properties from the blueprint and floor plan. Now, for the very first time, they will get to see their apartment in the real living environment. This is the moment that will make or break the smooth execution of the pre-settlement day.
With heightened emotions and anticipation lingering, it is vital to create the ultimate experience for purchasers. From the moment they receive their first invitation, to being greeted by the developer team, all these touch-points the purchaser experiences are important. There are some notable ways to ensure your designed experience is flawless:
1. Create a warm atmosphere on the pre-settlement day by having an intimate function with catering, beverages, music and entertainment.
2. Begin your pre-settlement inspection day by introducing the developer team. Let the purchasers know who is behind the brand and have an intimate and inviting conversation. To build the experience showcase a video of the development process and give the purchasers insight into the immaculate conception from the ground up.
3. The settlement is only the beginning of a long journey for purchasers. There is much to be finalised after the key handover and simplifying it now will make a world of difference for the end result. Organise supplier exhibits for furnishings of each purchasers apartment and maintenance arrangements. This should include ready quotes for blinds and curtains, additional appliance offers and information on strata title and management.
People are busy, so it is important to spread your pre-settlement into 2 days. In our experience, organising pre-settlement from Friday to Saturday works best for most schedules and ensures a 100% booking rate for the event.
Spreading the days of the inspection also allows for a more intimate gathering and builds on the purchaser experience. It allows your team the opportunity to engage with purchasers one-on-one and avoids any situations that can arise from being overcrowded or understaffed.
It’s easy to make the pre-settlement inspection confusing. It’s hard to simplify the experience. We know the inspection game because we’ve been playing it for over a decade. Our offering is so specialised that we consider the finer details and dedicate an experienced team for managing pre-settlement inspections.
Call us on (02) 9280 3162 or send an inquiry to find out how we can make sure your next inspection gets done right.