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
The down payment on the price of a real estate. For example, it is customary to make a down payment of 10% of the value of a real estate parcel upon signing the purchase agreement. ...
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical. ...
Bond whose interest is free of federal, state, or local tax in the state of the issuer. It is typically a municipal bond of estate or county agency. For example, a New York City resident ...
The right to demand that title be conveyed upon payment of the purchase price. ...
Charge levied against property owners to finance an improvement made by the local government which benefits the homeowners and commercial businesses. Examples are sidewalks and sewers. ...
Factor employed by real estate agents or appraisers to determine the change needed in operating income to obtain a desired rate of return. It is used to evaluate income-producing property. ...
Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately ...
Also called a will. Describes the disposition of property. ...
Stature regulating the use of credit information. Allows consumers such as prospective homeowners access to their credit files. It requires a lender to explain how loan interest is ...
Have a question or comment?
We're here to help.