Open house viewings: when they work and when they do not
An open house creates the impression of demand, which is valuable — and the impression of a crowd, which is not.
An open house compresses viewings into a short window, usually a single weekend, and creates the sense that other people are interested. That can generate competition and produce offers quickly, which is why the format is popular.
It also has disadvantages, and whether it works depends on the property and on the market.
When an open house works
The format suits properties with broad appeal, where a large number of viewings can be accommodated and where the competition is the point.
- A property in a popular location with strong demand
- A property that presents well and photographs strongly, so that interest is already high
- A market where buyers are active and decisions are made quickly
- A seller who needs a fast result and can accommodate a concentrated viewing period
When it does not
An open house can work against a property that needs careful explanation or that has drawbacks, because buyers see the drawbacks in the company of other buyers, who may react visibly.
- A property with unusual features that need explaining, which a crowd does not allow
- A property needing work, where individual buyers want time to consider the potential
- A property where privacy is a selling point, such as one with a large garden or a secluded position
- A market where buyers are cautious and want time to reflect
Running one properly
An open house needs the same preparation as any viewing, plus arrangements for the volume of people. The property should be immaculate, the agent present and managing the flow, and there should be somewhere for buyers to ask questions privately.
- Prepare the property as thoroughly as for any viewing, and more so, because many people will see it at once
- Have the agent present and actively managing, rather than leaving buyers to wander
- Provide a printed information sheet with the floor plan, the key figures and the agent's contact details
- Collect contact details from every visitor, so they can be followed up
- Follow up within 24 hours, because interest fades quickly and the point of the event is the follow-up
Common questions
- Are open house viewings a good idea?
- They work well for a property in a popular location with broad appeal, because they create the sense of competition and compress the viewing process. They work less well for a property that needs explaining or has drawbacks, because buyers want time and privacy to consider it. Match the format to the property.
- What should I do to prepare for an open house?
- The same preparation as for any viewing, but more thoroughly, because many people will see the property at once and any flaw will be noticed. Have the agent present and actively managing, provide printed information sheets, collect contact details from every visitor, and follow up within 24 hours.