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BUSINESS FOCUS Inspection trips
Alex Evans
Tour de force
Inspection trips and tours, fl y & buy packages and ‘try before
you buy’ schemes are all helping developers sell second
homes – but how should they be run and who should pay
for them? OPP investigates
Well met
Barrasford & Bird Worldwide has conducted 100 inspection
trips for its Halcyon Hills resort in Greece with a success rate of 96%.
Research from the the legal issues associated with them – the developer subsidising quality Portuguese agent Atlantic Estates
Datamonitor/OPP Knowledge and how they’re being addressed. accommodation on a DBB basis on or works with large resort developers
Census of overseas home sales near the project. to off er qualifi ed buyers three-day,
to UK and Irish buyers back in 2007 Worth the eff ort “This combination also avoids ‘tyre- two-night ‘Lifestyle Visit’ inspection
found that nearly 80% of inspection Feedback indicates that inspection kickers’ who just want a cheap break in tours, based on themes such as golf,
trips resulted in a sale. The market has trips still deliver sales, but new the sun and only attracts those serious culture, ocean, nature and gastronomy.
changed since then but are inspection residential tourism trends have about buying a property, which in turn Potential buyers connect with resort
trips still the best way to close sales? changed the way they are run these keeps the Visit to Sale conversion rates properties by enjoying complimentary
To fi nd out defi nitively whether days. up and the subsidies down.” massages, interior design consultations
inspection trips are dead or enjoying “As part of the client’s own due Developers optimising key ready and baby-sitting services.
a new lease of life, OPP decided to diligence it is important for them to inventory for short-term premium
survey its global database to fi nd out see what they are buying; but it’s also lets, in places like Florida for example, Fly and buy tours
how they should be run, who should in the developer’s interest to make this have introduced ‘try before you buy’ So-called ‘fl y and buy’ tours have been
run them and, crucially, who should easy for the client,” says Russell Bragg schemes through agent partners. around for a while but are growing in
pay for them. We wanted to fi nd out of Premier Resorts. “The cost should
how deposits should be taken and therefore be shared between these two For us, it’s all to do with selling the person conducting the
whether longer cooling off periods parties, with the client paying for their viewing trip, then the country, then the area, then the resort.
were necessary these days. own fl ights (this way they can choose We off er a menu of diff erent viewing trip opportunities for each
The survey highlighted a range of whether they fl y low cost or fi rst class client. They then choose off the menu and we create a bespoke
insightful views on inspection trips, and we don’t risk off ending them - it viewing trip (or so they feel) for every client.
from how they are being innovated to also avoids being ABTA bonded) and Robin Barrasford, Barrasford and Bird Worldwide
FEB10_OPP_MAG.indd 42 28/01/2010 15:21
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