Open houses are now part of the strategy when it comes to selling houses in this market of unprecedented buyer demand and acute stock shortage.
Once the preserve of hard to sell houses, the unabated demand for homes in London and the South East is spreading across the country and has led to haart holding hundreds of open houses every month to give buyers a fair and open chance.
Open house marketing has achieved 5% above the asking price on average and has resulted in a swift sale for hundreds of vendors so far this year.
Paul Smith, CEO of haart, believes the system gives confidence to sellers to go to market knowing they will get the best price and gives them a fighting chance to find their next property with the best possible budget.
"Even more importantly we believe this will also tip the balance in favour of much needed supply.
There is frustration on behalf of potential sellers putting their homes on the market as their sale is dependent on finding a property. There are upwards of 30 people per branch who have told us they would move if they could find a property to move to. So there is a continuing log-jam that needs to be shifted.”
Case study: haart have just had an Open House in Manchester Grove, in London’s Docklands that had 38 viewings and multiple offers which led to the property selling at the full asking price of £500,000 – other local agents valued this property at £450,000.
