Strutt & Parker has made some bold claims for its annual US-style National Open House Day event including that it both encourages buyers to make offers earlier and turns tyre kickers into serious buyers.
The company says buyers who like a property but see other potential purchasers cooing over during an open house will bid earlier. It also claims that the event prompts buyers who have already seen a property to rush in with a bid to secure it before a crowd of potential rival bidders descend.
“In previous years, people who were just curious about the local market but not seriously considering buying have changed their minds after our National Open House Day,” says Simon Backhouse, Director of Strutt & Parker’s Canterbury branch (left).
The company says 60% of its branches participated in the event last year, ten years after it first tried out the strategy at a single branch in Kent.
Strutt & Parker describes it as having been an ‘immense success’ but not all of its vendors have embraced the idea; only a third of its sales properties were included during its 2018 event.
This year it’s taking place on Saturday 11th May and is expected to see at least 1,000 open house viewings and offers worth in excess of £60 million roll in, the company claims.
“A buyer can walk into a home on a viewing and take less than 30 seconds to decide if they like it. For those houses with instant kerb appeal, this is a fantastic opportunity to really show it off,” says Backhouse.