Open Day
- An open day is a single day when a property can be viewed by a number of prospective buyers or renters at the same time.
- By restricting the time to view to one day this can create a sense of urgency encouraging speedy decision making before the competition secure the property.
- Open days can create the setting for competitive bidding on the purchase price or the rent.
- Sealed bids can have a similar effect to open days - all the bids are entered by a fixed date and opened on the same day. The highest is the one accepted subject to contract.
Published: 29 September 2015
Last Updated: 17 November 2021