Come on in:is it time for an 'open house' to sell your home, asks Edel Morgan

'Softly, softly catchee monkey' seems to be the game that vendors and estate agents have to play if they want to lure a buyer into their nets.

An increasingly nervous and elusive group, thanks to interest rate rises and an uncertain market, buyers respond well to plenty of TLC, time and understanding but very badly to the merest whiff of a high pressure sales pitch.

The traditional-style viewing, where potential buyers are expected to turn up at a property at an allotted time before being whisked around by an agent, has become a too formal and restrictive way of seeing a property for many cautious buyers who are staying away in their droves.

This may lead to an increase in the numbers of people hosting an "open house", a more relaxed affair where they invite potential buyers to browse around the property at their leisure over the course of a day.

Open house viewings originated in the US and are now starting to catch on in Britain where the market has slowed down. Some Irish agents are suggesting it to their clients as a way of drawing buyers out of their lair.

Whether or not the open house approach catches on here might depend on how desperate people are to sell their property. For some, the intrusion of people wandering around their home for hours at a time, running their fingers over their work surfaces, scrutinising the mouldy patch behind the wardrobe while gatecrasher nosy neighbours feel for dust around the door frames might be all too much.

But for those who have already tried everything else - that is, reducing the price and staging and landscaping the property to within an inch of its life - it could be a last ditch option.

In the US and Britain, an open house can take several forms. Some are organised by the vendor who invites the general public by way of an ad in the paper, while others are hosted by estate agents who ask anyone on their books who might be interested in the property.

ERA Liston estate agents in Limerick says open houses tend to have a low-pressure, browsing atmosphere. "With that in mind," says its website, "you shouldn't expect it to generate a sale, at least not directly. What you should look for is interest expressed and requests for private showings in the days following the open house.

"If many prospective buyers attend, it shows you that the property is attractive and saleable. If very few people show up, it can indicate that the price is too high, and cause you to look for ways to improve kerb appeal."

It advises that the first three weeks are the test period of your initial asking price. After which it says you may want to consider "repositioning" your asking price; a polite way of saying "slashing" it substantially.

It also suggests that vendors avail of a multiple listing service, a system whereby participating brokers agree to share commission on the sale of houses listed by any one of them. So, if you list your house with one broker and another broker sells it, they share the commission.

And then there's the open house for estate agents where, according to ERA Liston, "sales professionals hold an open house for other sales professionals shortly after a house is listed. This event, usually held mid-week when real estate people can give it their full attention, can be as important to your efforts as your listing in the local multiple listing service. The more professionals who see your house, the more prospects you're likely to reach."

So if, after a spate of open houses for potential buyers and for estate agents, it still doesn't sell, it might be time to consider the ultimate last resort - an open house for the inquisitive friends of your gatecrashing nosy neighbours.