Should You Have An Open House?
Open Houses: Pro or No?
Having an open house to market your property is a relatively new concept in the UK but it is a tried, tested and well used approach in the USA. The open house is a great tool for allowing potential buyers to look around your property at their leisure and the perfect solution for those who find individual viewings awkward.
The open house is time saving for both buyers and sellers who only have to get their home looking spick and span for one date. This method can also increase competition as buyers will visibly be able to see their opposition and this will usually prompt them to act quickly. In fact estate agents believe buyers are more likely to “put their cards on the table” in an open house scenario.
Some agents prefer to use the term “group viewings” instead of open house. The main difference between the two is that potential buyers have a time slot so there is a bit more structure than the open house format. That said time slots are structured to overlap each other so buyers still see their competition.
If you are selling your property and are tempted by an open house, here are some tips we have picked up from the experts.
- Make sure there is enough interest in the property to warrant one. There is no point spending money on hosting the event if only one or two people show up.
- It is important you choose an estate agent with experience in hosting an open house. Experts suggest it is best to get an experienced agent to host your open house who have very good knowledge of the area (schools etc) and know your house well, and all of its lovely quirks.
- A good estate agent will also know how to market the property so you have as high a footfall as possible on the day.
- Most experienced agents recommend hosting an open house between seven and 14 days after the property goes on the market.
- Buy some food and wine for the day and make sure the house is clean, tidy and welcoming. Dot some vases of flowers around the house and make sure the heating is on if it is winter!
Once you have sold your property get in touch with Clockwork to arrange a free no obligation survey and quotation for all your removals and storage needs.