Our members are on hand to network with 24/7 in our mastermind group. Here’ Insider Steve McKernan shares advice on how to generate interest in your home sale and attract a multitude of potential buyers. You will agree the similarities to a good marketing strategy for any small business are remarkable!
If you’re looking for an effective way to generate interest in your home sale and attract a multitude of potential buyers, hosting an open house is a brilliant idea! In this article, we’ll explore the pros and cons of this approach, share valuable tips for success and answer the question of whether open houses actually work when it comes to selling your home.
So, get ready to discover an alternative way to showcase your property and give your listing the exposure it deserves!
Efficient alternative to multiple individual viewings
If you’re selling your home, hosting an open house can offer an efficient alternative to multiple individual viewings. Rather than arranging viewings as and when buyers show interest, an open house allows you to set aside a specific block of time on a particular day for multiple viewings.
During this time, potential buyers can drop in and take a look, or your estate agent can schedule back-to-back appointments to fill the allocated time.
Not a substitute for online advertising your property
While some sellers may prefer unscheduled viewings, many opt for scheduled appointments to avoid unexpected disturbances. However, it’s important to note that hosting an open house is not a substitute for online advertising your property on property portals.
Listing your property through a high street or online estate agent will ensure that your home is seen by as many potential buyers as possible. With the rise of online estate agents, where the owner typically conducts viewings themselves, an open house can be an attractive option to limit viewings to a single day.
Only need to tidy up and prepare your home for one day
Open days can be a seller’s saving grace. By utilising an open day, you can schedule multiple viewings in one go, which means you only need to tidy up and prepare your home for one day.
During the open house, you can choose to either personally guide potential buyers through your home or let your estate agent handle the showings while you take a break. This approach can save you from constantly having to keep your home in showcase condition, especially if you have a busy schedule, kids or pets to manage.
Ensure your property looks its best and gets plenty of foot traffic
Another great benefit of open days is the inherent urgency they create. With multiple potential buyers viewing your home all at once, competition can motivate them to act fast and make a serious offer. Seeing their competition may push them to offer a higher value or present an offer on the spot, bringing you one step closer to a successful sale.
To ensure your property looks its best and gets plenty of foot traffic, avoid evenings and weekdays for your open day. Saturdays are the optimal choice, providing ample time for a final morning clean before the busiest hours typically between late morning to early afternoon. If demand requires, extend viewing slots into the late afternoon and schedule appointments back-to-back for maximum impact.
Important to start preparing weeks beforehand
Spread the word about your open house by advertising it on property listings and asking your estate agent to create a brochure to hand out to potential buyers. Additionally, have your estate agent promote the open day on their website and in local publications while personally reaching out to interested parties in their network.
To ensure a successful open house, it’s important to start preparing weeks beforehand. Clear out clutter by selling, donating or storing excess items elsewhere. Next, perform minor repairs and fixes throughout the house, such as touching up paintwork or replacing worn-out rugs.
Kerb appeal plays a key role in attracting potential buyers
Don’t forget to pay attention to the outside of the house, as kerb appeal plays a key role in attracting potential buyers. Trim hedges, tidy up the front garden and consider repainting the front door. As the open day approaches, give the house a thorough cleaning. Pack away any valuable items and keep sensitive documents out of sight.
Finally, discuss with your estate agent how offers will be handled, such as setting a deadline for buyers to submit sealed bids a couple of days after the open house. With these preparations, your open house is sure to generate interest and offers!
There are some potential drawbacks to keep in mind
On the day of your open house, there are a few things you can do to ensure it goes smoothly. Start by tidying up and giving your home a final clean. Have your property brochure with all the necessary details available for visitors to take home. You may also want to provide additional local information to showcase the area’s benefits.
While open houses can be a convenient way to show your property to multiple potential buyers at once, there are some potential drawbacks to keep in mind. One issue is that an open house can restrict buyers who are unable to attend that specific day. To ensure its success, your estate agent needs to heavily market your home, fill slots and make the open day worthwhile.
Consider whether to remain in your home during the open house
You should also consider whether to remain in your home during the open house. If you have any doubts about your agent’s ability to do a good job, it’s best to be present to answer questions and highlight the positive features of your home.
Additionally, unexpected viewers may turn up on the day. You will need to decide with your estate agent how to handle them and ensure adequate staff are available to accompany additional viewings.
It’s important to weigh the benefits against potential disadvantages
Another concern is security. If you are worried about visitors roaming your home, you may want to be present during the open house. Moreover, the pressure to make an offer quickly may cause buyers to overcommit or deter them from visiting altogether.
In summary, open houses can be an effective way to showcase your property, but it’s important to weigh the benefits against potential disadvantages, and work with a reliable estate agent who ensures both the safety and success of the event.
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