What is the meaning of an Open House?

 

The Open House is an event that is organized to speed up and optimize the sale of a property. It's a real estate marketing technique aimed at showing a property for sale to as many potential buyers as possible with the goal of collecting a purchase proposal as soon as possible.

Both private clients and other real estate agents can participate at an Open House.

 

 

How long does an Open House last?

 

The event has a duration that can vary from half a day to a full day and in some cases even a couple of days, and is advertised in the area and/or in the city where the property is located, generally one month before the fixed date. 

 

 

How do the visits take place?

 

During the Open House each visitor will have a certain period of time at disposition to visit the property and view the documents such as: floor plans, surveys, deed of property, condominium rules, etc.

Visitors will be followed and supported by a real estate consultant which will guide them during the visit and answer their questions.

 

 

What are the advantages of an Open House?

 

Concentrated appointments

A single day of concentrated visits of people interested in viewing the property, means to fix the house in the best possible way only once.

 

Advertising in the area

About 70% of buyers choose their home based on proximity to their workplace or their family members location. The Open House will be advertised in the neighborhood, informing interested parties of the possibility of buying a house near their point of interest.

 

Inviting local agencies

Real estate agencies in the neighborhood will also be invited to view the property with their customers interested in buying a house in that area.

 

Purchase proposals

Possibility for interested people to view the property, even several times on the same day and immediately check the documents of the property so that they will be in a position to make a purchase proposal already during the next days.

 

Desired price

More visits in a single day, more potential buyers, more chances to sell at the desired price in a short time.