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What is an open house and how does it work?

Property Saviour » Estate Agents » What is an open house and how does it work?

One great way to market your property is through an open house event. Whether you’re selling a beloved family home or a property that needs modernizing, having an open house event can help you get the best possible price for your house in the shortest time.

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What is an open house?

What is an open house event? In a nutshell, it’s a pre-arranged day for a lot of viewings all at once. Potential buyers can either be given individual appointments on the specified day or invited to come at a scheduled viewing time – or even both.

This is a great way to show off your home to a larger crowd, as you only have to tidy up once. It also gives your estate agent the chance to create a great competitive atmosphere around your property. The result? Open house events can bring you the highest possible sale price.

How to host an open house?

To ensure a successful open house, we recommend three tactics that always work:

  1. Create a homey atmosphere – Having freshly brewed coffee and a few flowers in your house can go a long way in making it more appealing to potential buyers.
  2. Promote the event – A successful open house requires efficient marketing. Make sure your agent is doing their part to get the word out.
  3. Step away for a few hours – While you should usually be present during house viewings, an open house is an exception. Your presence could prevent people from fully envisioning it as their home. So, feel free to take a break while we handle the details.
What is an open house and how does it work
A successful open house requires efficient marketing. Make sure your agent is doing their part to get the word out.

Do open houses really work when selling a home?

Open houses are the best way to show off a property when selling, and that’s why we at Cubitt & West are always happy to arrange one. Furthermore, we like to combine open houses with another successful strategy – sealed bids.

Having faith in the effectiveness of open houses, we are confident that it will help you to sell your home. There is no one-size-fits-all solution to home sales, but open houses offer the most potential.

What are sealed bids?

The sealed bid process is the ideal way to generate maximum interest and secure multiple offers for your home.

Buyers should submit an offer by the advertised closing date, together with their financial and buying position. In effect, they must be transparent about their circumstances, so you can make the best decision for you.

Why would I want to hold an open house?

There are numerous reasons why it might be beneficial to host an open house for your property.

  • It will give multiple potential buyers the opportunity to view your property all within one pre-arranged time slot, making it easier to manage.
  • Plus, you only have to tidy up and prepare your home once, rather than over and over again.
  • You can choose a time when your home looks its best. For example, if your garden is sunnier at a particular time of day, or the main rooms in the house are brighter at certain times, you can set the open house to coincide with those periods. Furthermore, you can make arrangements for yourself, your family, pets, etc. to be away during the allotted time slot.
  • Your agent can make a great impact with their marketing efforts leading up to the open house. They can reach out to their database of registered buyers and create a sense of urgency. Plus, buyers feel more relaxed in an open house setting. They are less intimidated than in a ‘one-on-one’ viewing and are more likely to interact with the agent and take their time looking around.
Is there any reason not to hold an open house
A well-attended open house could create a sense of urgency among buyers, while a poorly attended event could lead to a lower offer.

Is there any reason not to hold an open house?

Open houses are not always suitable for every home. When deciding the best sales strategy for your property, you and your agent should consider the pros and cons of hosting an open house.

The decision to have an open house depends on the current market conditions, the type of buyers you want to target, and the property itself. Here are some reasons why you might decide not to hold an open house:

  • If the market is slow, it may not be worth holding an open house since you won’t likely get many potential buyers to attend. A well-attended open house could create a sense of urgency among buyers, while a poorly attended event could lead to a lower offer.
  • If your home has special attributes that require more attention, an open house might not be the best strategy. Additionally, buyers can sometimes feel rushed to make a decision, leading to uncomfortable feelings of “buyer’s remorse”. Your agent should work hard to ease the buyer’s nerves after the event.
  • Lastly, an open house is limited to a specific time and day, so the “right” buyer may not be able to attend. If your home doesn’t sell at the event or shortly thereafter, speak to your agent for advice on other options.

What happens if I don’t sell following the open house?

An open house event can be an effective part of the strategy to market and sell your home. With the right conditions and proper preparation, an open house could lead to one or more offers.

What happens when the people arrive at the open house?

At an open house, viewers can take their time to explore the property while the agent is present to answer any questions.

Many buyers find this a more comfortable way to check out a house. It’s important to remember not to snoop around in the owners’ cabinets and drawers.

Sell your house quickly!
At an open house, viewers can take their time to explore the property while the agent is present to answer any questions.

Sell your house quickly!

If you’re looking to sell your house quickly, no matter what condition it’s in, consider using our services. We buy houses in as little as 7 days!

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