Definition of "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
® !

 

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Monies paid to use property, such as the use of natural resource extractions. The royalty payment is typically based upon some percentage of the income or fee for substances generated from ...

Residing in or using real estate. An example is a tenant in an office building. ...

Rental income received from property that exceeds the costs of owning and maintaining the property. ...

Increase in the value of property. The appreciation may arise for many possible reasons, such as inflation, construction of higher priced homes in the neighborhood, tax incentives, and ...

Decline in the credit status of a prospective homebuyer. ...

Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...

Sponsor of a syndicate involving people or companies buying an interest in a real estate investment or unit. The group of investors are in effect engaged in a joint venture for profit." ...

An antenuptial agreement is, as the terms composition states, an agreement that happens before the nuptials, or, in other words, the wedding. The antenuptial agreement is more commonly ...

Potential homeowners buy land at a location they like and then build their house on it. ...

Popular Real Estate Questions