Sell your property the open house way
As the property market starts to slow and take a slight downward turn, estate agents and homeowners have been looking at different ways in which to advertise and sell their properties. This latest idea has crossed over the transatlantic ocean. Known as Open House, this format of promoting your property is very popular and common in the US.
An Open House involves inviting potential buyers to view your house in a more relaxed way. They can arrive and spend as little or as long as they want looking around the property, unhindered by estate agents or vendors. Many people both viewers and vendors can find the viewing process awkward or intimidating, the open house way removes all that.
It proves to be more flexible and convenient for both parties, as viewers don't need to set an exact time to attend, and vendors get all the viewings over in one go. That means you only have to make your house presentable once and it also saves on having many disruptive viewings over several weeks.
Open house can be for the day, however estate agents, Foxtons have opted for the quicker and less relaxed route, by limiting open house sessions to just 45 minutes. To me this seems to miss the point completely, however Foxtons feel that many buyers will know within a few minutes if they are interested or not.
The downsides to open house though have become apparent in recent events after a few vendors have noticed things have gone missing afterwards. This has happened in the US too - I suppose you just don't know who to trust. Weighing the ups and downs of the idea, if it means you can save money and sell your house for a good price quickly, maybe it's worth the risk.
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