Definition
A scheduled time when a property is available for any interested buyers to visit and tour without an appointment. Open houses are traditional marketing tools and help you compare similar properties.
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Find my pathAbout this term
Open houses are a traditional marketing tool used by sellers to generate buyer interest and create urgency. They provide an opportunity for buyers to walk through a property and get a feel for the neighborhood. Open houses can help buyers compare similar properties and understand what's available in their target area and price range.
Pro Tip
Attend open houses early in your search to see multiple properties and understand market comparisons.
Example
The sellers held an open house on Sunday from 1-4 PM, which attracted 23 visitors and resulted in four new inquiries from interested buyers.