What's Better, Open House or Private Viewings?
No one knows your property better than you do, so at Sellmyhome we believe you are the best person to conduct the viewings for your property. After all, building strong relationships with your potential buyers leads to more offers. Once your property is listed you need to decide how you will carry out viewings; the two popular options are Open House and Private viewings.
This is a fairly new concept in the UK having come from over the Atlantic in the US, where it is already well established. The idea is that you have one day or part of a day when you throw open the doors to your property. This is a great way to market your property to a larger audience for many reasons:
An Open House can be convenient for both you and the potential buyers. You only need to prepare your house for viewings on one day and buyers can be flexible with what time they come to view the house. Some buyers may want more time, so with an open house running for several hours they can navigate your house without any time restrictions and get a feel for living there. Even better they can come at any time. Buyers are more likely to put in an offer if they have had freedom to see the whole house.
If you are looking to complete your sale in a short timeframe, an Open House could be the best way to do this. Multiple viewers looking at your house at once will create a sense of competition between buyers. This can speed up the bidding process and even push up the price!
However there are some drawbacks:
Open House viewings are more suited to larger properties, where you can create a local buzz and encourage more people through the door. A notable house in a central and popular area will likely generate huge interest, whilst a smaller and more rural home might not have the same impact, and the feeling of competition for a buyer may be hindered by a low turnout. The success of an Open House is largely down to effective marketing to the right audience in advance.
It can be hard to manage the flow of people - too many in one hour for example - making it hard for viewers to get a feel for the property as a place where they could live. And because it is still a new concept here, open house viewings do not always sit well with viewers who might feel they are missing out on one to one attention. People might not feel able to make an offer after an Open House viewing and could ask for a further private viewing. In this case an Open House might be the perfect way to promote interest in your property and filter out those who are not serious buyers, so you can then conduct further viewings individually later on.
An issue with high levels of competition at an Open House can be high dropout rates after offers have been made. Some people may bid in a rush in the fear that they might miss out on the property but later realise they cannot afford the mortgage or do not like the house enough. This is much less likely to happen with private viewings.
Sellmyhome will of course liaise with you to help provide the very best service throughout the process but the viewings are very important so consider carefully how you want to manage them.
This is the traditional, tried and tested way. A potential buyer makes an appointment and you show them your home. The advantages are:
- A Personalised Service:
Through individual viewings the buyer will receive a more personalised service tailored to their specific needs, making them feel more connected to the house. You as the vendor will have comprehensive information about the buyer’s situation and the number of people coming to view the property, so you can plan a better viewing. The viewing should feel more relaxed and you are always there to immediately answer questions and concerns.
Individual bookings offer a lot of flexibility, not only for you but also for buyers. With a variety of dates and times available it is more likely that interested buyers can make time to view your property.
The cons compared to an Open House is of course you’ll need to run multiple viewings. If you’re a working professional that may be a bit much to juggle! But don’t worry, if you need help, we are able to provide assisted viewings - just give us a ring to request the viewing service. All you need to do is tidy up your home, keep it clean and welcoming, and we’ll take care of the rest.