I often get asked ‘how do open house viewings work?’ In a sellers’ market, open houses are very common. We recommend open house viewings for properties we know will garner a lot of interest such as un-modernised flats or family houses. The main aim is to get as many people through the door during a short amount of time, usually 2-3 hours. We usually arrange 2 sessions – one during the week and one at the weekend to ensure all interested parties can make it. The open house is advertised 2-3 weeks in advance and on the day we ask that vendors aren’t present, allowing buyers to take their time and be honest in their feedback. Because buyers get to eyeball the competition, we expect to receive offers very soon after the open house (if not on the day!) and will often go to best and final offers with a sealed bid process.
Director – Head of Sales, Mountgrange Heritage
Published in Absolutely Notting Hill, January 2014