Selling house open day(12 Posts)
We are planning to put our house on the market soon, does anyone have any experience of open days would you recommend them?
Or is the conventional way better?
One estate agent has recommended we do this and it sounds good in theory but not sure.
Ask the agent who recommended it for actual results from this method of marketing. How often have they done it, how many homes have sold at the end of it? Also, check your local property papers, do you see many open houses advertised? Here in the SE, it seems to be coming into fashion and people seem to be more used to the idea now. Personally, I think it's a great idea and how I would like to sell my house in future, but it all depends on how well it is working where you live.
Ours was sold by having an open day.
We made ourselves scarce for the day had 25+ people booked and came home to 6 offers.
Benefits for us was that it meant that we just had to clean/tidy/declutter just the once
because I'm a lazy git
As FunSponge says above if you are in a very popular area snd priced realistically for that area an open day is a good way of getting it ober and done with in one day!
The downside is you knock out potential buyers who really can't make that day.
I wished to view a house when buying and the estate agent was very firm, no viewings, just open day only , made a lot of noise about it being in a fab area, close to great schools, great condition, it was going to fly and the owners knew they had a gem on their hands. I genuinely couldn't make it to that area on the planned open day as would be out of the country,
Low and behold a few days after the open day I get an email asking if I was interested, by which point I'd offered on another property.
I also had another seller who was doing the same, however she was more flexible and took us round personally. Unfortunately it wasn't the house for us though.
So I'd advise flexibility if someone is showing interest. I would also say I get the impression that it's less work for estate agents if they can do viewings all in one day and not be running round every evening showing different houses.
It can work if you're in a popular area in a hot(ish) market, and you've priced correctly, as all said. They were the thing around here until July or so last year, now there are fewer of them.
As a buyer I hate them - I want to be able to look around properly and I don't like estate agents stirring up competition, but whether that affects you or not depends on the state of the market near you.
We had an open day, the estate agents did nothing to advertise it and no one came! See if they will provide generic banners, balloons, posters etc for the house on the day (some do).
The flat did sell but via a buyer having a viewing appointment
Thank you all for your responses,
Thinking it may not be the best way for us as market is slowing down in our area, compared to last year anyway. Can't see any other any other open days either.
Now being pestered by one agent who is absolutely convinced he can sell it for an amazing price, well over what we would expect.
On the one hand I know it's tactics and we'll end up paying huge fees for a reduced offer anyway.
But he is so convincing!!
It's actually very common in New Zealand to have Open Days..So as a buyer you would pick an area and go to several houses in a day potentially. There would be more than one for the same house though so people who couldn't make one day could come another. Over here it's not that common so maybe hard to gain momentum unless advertised well.
We sold out flat with an open day and it was great. As a PP said, you only have to tidy up once
Open days only work if the market in your area is hot and the open day is packed with viewers. Upside - you make the house lovely and tidy once, then disappear. We sold ours a two years ago - had 40+ prospective purchasers through the door and lots of massively over the asking price offers (London borough). Downside is you don't get to meet the people who are offering. So don't do it unless you know your house is amazing and will sell instantly.
I also wonder - this is speculative, I don't know - whether offers from open house viewings are any more likely to fall through than "regular" viewings - if in the heat of the moment buyers make offers they can't really afford, or put in an offer that they later regret.
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