Open days are an increasingly common marketing
method used by Estate Agents to generate interest in your property and they can
be incredibly effective. The technique is growing in
popularity, considering when
Ashworth Holme opened in 2009 an 'Open House' was
almost unheard of and these days barely a week goes by without at least a
couple of these events being
scheduled into our diary. After selling dozens of properties using this method
we know well the very best ways of promoting and conducting your open day, we
like to think we have it down to a fine art!
Why is an open day a great way to sell your property?
The most appealing benefit of an open day is the competition they can create amongst buyers. When the viewings are taking place potential buyers see other viewers as competition and in turn this gives interested parties a sense of urgency often meaning multiple people can end up making offers. Multiple offers can lead to the sale price being forced up with which is great news for Vendors. Other benefits include the sheer convenience of having a majority of viewers looking at your property on one day. This is something most Vendors find much easier than multiple viewings being spread over a number of weeks at various different times of the day.
How do we promote open house days?
This is where our experience really helps, as a rule we make properties live on a Wednesday or Thursday and schedule the open day for the following weekend 9 or 10 days after the property is first listed. This gives enough time for your property to get plenty of exposure online without keeping buyers waiting too long before they can view in person. Remember keeping buyers waiting too long and they will go off the boil. We never advertise the time or the full address of the property, we want potential buyers to contact our office enabling us to register there details. Having information on everyone attending the open day means we know buying positions and also allows us to contact viewers for feedback following the open day. All our open days are promoted on websites such as Rightmove.co.uk in addition to being circulated to our vast mailing list.
What are the disadvantages and how do Ashworth Holme overcome them?
An open house can almost sound too good to be true, all your viewings in one day and then a potential bidding war for your property so what are the pitfalls? Well unless your agent is experienced there are a couple.
1. The obvious problem comes from buyers who cannot view on the designated day/time meaning they could miss viewing your property altogether and that one person could potentially want to make you a fantastic offer! At Ashworth Holme if a viewer cannot make the open day we will always try and accommodate a viewing at an alternative time maximising the chances of our clients achieving the best possible price for their property.
2. Some agents take the term 'open day' literally, they simply advertise a time a date online and allow anyone to view regardless of their buying position. This means they have no idea who has viewed which makes it impossible to gain feedback. This approach can also result in several viewers being in your property at any one time. As mentioned above we also take full details from every viewer we then give a specific timeslot, this still creates competition but allows the Agent to have some control over the viewers and alleviates any security concerns.
If you are looking for an Agent who has the knowledge and experience to organise a successful open house day for your property do not hesitate to call Ashworth Holme to discuss things further or to arrange a free valuation. 0161 973 6680 or firstname.lastname@example.org