The Pros & Cons of Open Houses for Property Sellers

March, 2016

Open houses are becoming increasingly popular in the UK, with many sellers now choosing to opt out of time consuming individual viewings altogether. So, are open houses the way forward, or are they more hassle than they are worth? In this blog post, we’ll weigh up a few of the pros and cons of adopting this American-style selling technique.

Pro: Convenience

Finding the time to arrange viewings can be tricky, especially for people with full-time jobs or irregular shift patters. Luckily, open houses allow you to side step the hassle and inconvenience of multiple single viewings by bringing interested parties to the property at a time that’s most convenient for you.    

Con: Organisation

Open houses present a wonderful opportunity to show a large number of potential buyers around your property, but they also require some planning. If you are thinking of holding an open house, try to make the most of the opportunity to sell your property by making sure that you are ready to answer questions and field requests for further information. If you are expecting the open house to be popular, make sure you have a partner or friend (in addition to your estate agent) to help. 

Pro: Better chance of a quick sale and higher offers

Open houses allow potential buyers to gauge the level of interest in a property and act accordingly. This often means putting an offer in quickly to avoid losing out to someone else. And, if several people decide to make an offer, you’re much more likely to have a bidding war on your hands which could drive the price past your original asking price. 

Con: Security 

Security is often a concern for sellers organising an open house. With a house full of people, it would be all too easy for you to miss someone pocketing your personal possessions. Don’t take any risks. Always tidy away your valuables before people arrive and make sure that at least two people are available to supervise and conduct the viewings.

Pro: Saves time

Forget rushing home from work to clean before every viewing. With open houses, you may welcome 20 buyers into your home, but you’ll only have to clean and organise once. More viewings and less time spent dashing back and forth getting your property ready? What’s not to like?

Con: Time wasters

Most viewers who choose to attend open houses are genuine, but there’s still a small risk of attracting time wasters who have no intention of buying. You can help guard against unwelcome snoopers by ensuring that all viewers register their details with your estate and book a designated slot. 

How can we help you?

If you live in north Manchester or south-east Lancashire and are thinking of selling your property, Weale & Hitchen can help. We have been selling property for over 25 years and have sold more than 500 properties in the last 12 months alone. To find out more, contact one of our helpful advisors today

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