Is having an 'open house' the best way to sell?

bobcratchit

I'm going to be selling my property in Cardiff in the New Year and purchase in London and I'm interested in what the benefits or cons are of having an open house.

I have lodgers at the moment so thinking that arranging with them a specific day when they wont be there and having an open house might be good rather than constantly arranging with them everytime someone wants a viewing.

I'm also not living in Cardiff and so just generally being around to tidy up and present the house to the best of it's ability every few days is not possible.

Be really interested to know what other peoples experiences of either hosting an open house or going to one have been. And anything that counts against having one.

BigAunty

My estate agent promised me an open house viewing process in London (I also had a lodger in that I didn't want to disturb and whose rent I decreased for the inconvenience of viewings) but, funnily enough, after I signed the contract, either didn't arrange one or didn't have the courage to tell me he couldn't rustle up the numbers so I had to endure the usual multiple separate visits.

Property sold quickly after just 3 or 4 viewings, though, but it probably helped that it was in London and before the riots that resulted in burned down and looted shops round the corner from it...

ValHaller

There is no unique right answer to this question. Having been to several openhouse events, I would tend to avoid them if at all possible. So if others feel like me, you might find it restricts your market. I suspect that the property has to be a bit special for this to work.

pinkteapot

In my area (outside the craziness of London), open houses only seem to happen with houses that have been on the market for ages and not sold, so around here it smacks of desperation.

As a buyer I'd hate it, I have to say. If you want me to spend £100k plus on something you're selling, you can give me 20 minutes by myself, without having to have other people viewing at the same time!

Lionel_Thinkbag

I have been to a few and I find them offputting. They seem to attract developer/investor types (though that might just be the types of properties I have viewed - unoccupied probate type sales) and if I'd wanted to put an offer in I would have anticipated a bidding war which some sellers would want but as a timid FTB I don't have the stomach for it.

Also as a buyer you don't feel like you can relax and view the property at your lesiure with all the other people flitting about.

Also it is annoying as a buyer thinking you have an appointment to view and then turning up to an open house, so make sure the EA is upfront about it when taking bookings.

googler

It's one thing having an open house is your own home, but is it really appropriate for a tenanted one? How does this square up with allowing the tenant 'quiet enjoyment' of their home?

What about security? You invite the viewers in, who's responsible if some of the tenant's property goes walkabout?

ethank

If you are not living there, you do not have lodgers, you have tenants!

When will they move out? It is likely to hamper your sale, as no solicitor will want to exchange contracts with you until they have moved out.

poppysarah

Open house always seems a bit "Would like to sell but not prepared to reduce price" to me.

bobcratchit

With regard to the tenants, I would liase with them as to what day they are away and do the open house then. That's one of the reasons for enquiring about having an open house, i don't really want the tenants to be constantly interrupted by viewings spread out over weeks and months.
I would make sure I was there for the open house too and keep an eye on their property

gwynlas

I have seen two methods of open house, one literally anyone can drop in as they like throughout day which is messy and could leave you frustratingly waiting around all day, Second time slots on day. For sale sign can offer appts on specific day so everyone gets their time but you choose day rather than random viewings. A lot depends on your relationship with lodger and EA about viewings at other less convenient times, perhaps a cash incentive to lodger.