Open House
Just to be clear: an Open house is not when you invite friends over to meet your new house. At least not in the real estate world.
When you hear someone talking about an Open House, they mean an event where the agent or the home seller opens his house so that interested homebuyers walk in and see with their own eyes how awesome that house is.
“Oh, so an Open House is that moment in movies when the guy goes to the house and there are fruit platters and cheesy background music?”
Yes, but if you are a real estate agent or home seller doing an Open House, please avoid this cliché. An Open House exists to “wow” home buyers and nothing says wow like being creative, innovative and classy. From the invitation, to the welcome sign outside the house and the event itself.
Because image is everything and the first impression matters, agents usually “dress” the house prior to the Open House. They normally:
- Mow the lawn
- Clean the bathrooms and the kitchen thoroughly
- And sometimes even rearrange the furniture in a way that the house looks bigger and brighter
And of course: quality snacks to win clients by their stomach are a must at an Open House.
No wonder agents use the verb “to stage” when talking about the preparation for an open house, right?
Real Estate tip:
Liked the concept? Read our blog article and learn how to Optimize your next open house.
Don't like the concept? You can try the Virtual Cyber Tours: The New Way to Show Properties.
Know where to find the best real estate agents with the coolest open houses? Look no further; check out The OFFICIAL Real Estate Agent Directory ® !
Popular Real Estate Terms
Obligation taken on by a person who did not obtain it originally, but agrees to honor the terms of the existing obligation as a condition for the transaction. By assuming the loan rather ...
An asset. The term cost is often used when referring to the valuation of acquired property. When it is used in this sense, a cost is an asset. Concepts of cost and expense are often ...
An adjustment to the internal rate of return (IRR) computation so as to improve this measure. This uses a risk-free after-tax rate and a customary rate for money reinvestment. ...
Literature, samples, equipment, tools, and other useful information that real estate brokers or agents can use for demonstration purposes to prospective buyers. ...
In general terms, a licensee means a person or legal entity who has received authorization or permission to perform a particular activity through another party (the licensor in our case.) ...
Legal document that conveys real estate to the lender after the borrower defaults on his or her mortgage payments. The borrower should demand cancellation of the unpaid balance and a ...
The accelerated depreciation definition is a type of depreciation that makes it possible for a homeowner or real estate investor to depreciate their property faster than the straight-line ...
Concept used in valuing real property that conditions may be altered requiring a revised estimate of market value. These conditions include a shift in the demand/supply relationship, ...
Combination of two or more real estate brokerages into one, with only one company retaining its identity. Typically, the larger of the two companies is the company whose identity is ...
Have a question or comment?
We're here to help.