Marketing is an essential part of selling your house.
Open house viewings are not common in the UK, but they are a great way to get multiple viewers quickly.
(Over in the US, it’s estimated that 7% of property sales directly result from open house viewings.)
Read on to learn more about open house viewings, including their pros and cons, and more.
What is an open house viewing?
An open house viewing means that a property is opened up for any members of the public to view.
This is usually done when a house is already listed for sale on the open market.
The owner – or someone working on their behalf – will advertise they’re hosting an ‘open house’.
Anyone who sees or hears about this advert can view the property.
Some key features of an open house viewing include:
- No booking needed to show up
- You aren’t committed to making an offer
- An estate agent will be on hand to answer questions
- It’ll be held for around three hours.
Viewers are given a guide price for the property when they turn up. This indicates how much the owner is roughly looking to sell it for.
Open houses for rental properties
Open houses are sometimes done for rental properties, too.
This is common on the higher end of the market, where there’s lots of money on the line, and people want to be certain about their decision.
Are open viewings a new thing?
Open house viewings have been around for a long time. Some sources suggest they have been around since the early 1900s.
Do estate agents charge more to host an open house?
Not usually. This is generally included as part of estate agents’ services at no extra cost.
Check your estate agency contract to be sure, though, as some firms include hidden fees.
Do open house viewings work?
Anecdotally, open house viewings are a worthwhile strategy for selling property.
They could elicit multiple offers if the property is staged well (including measures to maximise curb appeal).
However, it’s difficult to find precise statistics on how effective they are compared to regular house viewings.
How to find open house viewings near me
Ask local estate agents
You should contact an estate agent near you to find out if they have any open house viewings coming up.
These organisations will usually have a list of any open house viewings planned in the next month.
Online listings
You may see open house viewings advertised in other places, too.
Eventbrite, for example, will occasionally be used to create a listing for an open house.
And you can also search: “open house viewings” [location] on Google, i.e., “open house viewings” London, “open house viewings” Manchester, etc.
Look out for signage
Many homeowners put a sign outside their house promoting an upcoming open house.
It should state the date and time. In most cases, an appointment won’t be necessary.
Enquire at new developments
Open house viewings are particularly common with new residential developments.
If an estate has just been finished, the developer might designate a day to make the entire area accessible to buyers.
Many also have showrooms that you can show up to see.
Advantages of open house viewings
Creates competition
From the buyer’s point of view, open house viewings are positive because they can sometimes create a competitive atmosphere.
People might be keener to bid and outdo their competitors. This, of course, depends on how many people show up.
Generates feedback
You’ll be able to gather feedback from everyone attending the viewing. This is done in a relaxed environment.
You can ask what they like and dislike. You’ll also be able to network with potential buyers and hopefully get their contact details or find a way to persuade them.
Efficient use of time
Open house viewings can be an efficient use of time. They allow you to show your property to many people in just three hours.
This is done in a relaxed environment that doesn’t pressure your visitors.
By contrast, regular viewings require repeated organisation efforts.
Disadvantages of open house viewings
Less qualification of viewers
You can’t guarantee that the people who turn up are viable candidates.
They are unqualified, so you don’t know if they have the funds to be a potential buyer.
They could be timewasters who find it interesting to look around various homes.
Risk of poor turnout
Open house viewings can also have a negative effect if almost no one shows up.
Those who do arrive will see an empty house, and thus know that there aren’t many buyers interested.
This could weaken your negotiating position with anyone who does make an offer (if they know about the open viewing).
Tips for a successful open house viewing
Choose a good day and time
The most popular day and time to host an open house viewing is a Saturday between 10 am and 2 pm.
This time is particularly convenient for most people because it doesn’t conflict with the time they need to be at work.
Work with the estate agent
Many house viewings can be carried out with an estate agent. In other words, the sellers don’t need to be there.
By contrast, sellers’ presence can at house viewings can be useful. This is because multiple viewers may simultaneously turn up, so sellers can help interact with them, including answering questions and showing them around.
Stage your property well
This is also a tip for regular house viewings. You should always make your house look as presentable as possible, i.e., stage it well.
Make any repairs to items that need fixing. This could include:
- Windows
- Doors
- Roofing
- Broken appliances
- Lightbulbs
- Taps
- Furniture.
You should declutter and tidy in advance of the big day.
Curb appeal
Curb appeal is often thought of as separate to staging a property. It covers the exterior of your property and beyond.
For example, you could mow your grass or give your front door a fresh lick of paint.
And if you have an old and unattractive car that’s usually on the driveway, it could be worth parking this on a different street.
