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

Written agreement in which the lessee pays rent to the lessor for the use of real property for a stated time period. An example is the tenant's rental of an apartment or office space. ...

Measure of the value of all goods and services produced by the economy within its boundaries and is the nation's broadest gauge of economic health. GDA is often a measure of the state of ...

Board used when connected as a floor. It may also be used as a strip in a wall or door. ...

Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...

(1) Reconciling the records to show agreement. (2) Agreement of the records to physical amounts. ...

The term after-tax rate of return calculates an investor’s net return after income taxes. The calculation is used by many businesses and investors to determine their real earnings. ...

Monitoring and administrating a mortgage lien after it has been made. This may include monthly payments, record keeping, handing tax and insurance record, and foreclosure of property. A ...

Schedule which is part of Form 1040 showing income or loss from real estate transactions including net rental income (rental revenue less rental expenses). ...

The definition of acquisition cost in real estate is the total cost recorded by a company or individual pertinent to the purchasing of a property. This is the entire amount written down in ...

Popular Real Estate Questions