Open House

Posted in Finance, Accounting and Economics Terms, Total Reads: 1003

Definition: Open House

Open house is a situation or period of time when a house or other residence is open for visit by potential buyers. Open house may denote a real estate property itself. It refers to house that is open for sale by the owner. It is a way of advertising the house to potential buyers. It is open to general public.

Open house is generally held during holidays or weekends so potential buyers could visit. The owners clean the house and make it look beautiful to attract buyers. Sometimes, the owners offer drinks to the visitors while they check the property. The owners answer the queries of the visitors who are potential buyers and provide more information to interested people.

In some cases the open house is kept limited to brokers and agents, known as brokers’ open house. This helps more to take the intentions to sell to more people through the brokers. Brokers also provide professional feedback which further helps in the deals.

Hence, this concludes the definition of Open House along with its overview.

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