What is an open house? An open house is when you listed your property with a broker, a real estate firm, and they tell you “We are going to come by and do an open house.” Which means, they will allow your house to be open on a certain day. No lock box, no knocking on the door. They will open the house, literally, to people that want to come in and see the house that is for sale. Either your nosy neighbors who want to see whats going on in your house or the nosy neighbors who really want to know what the price of the house is going for so they can either list their house later on, or qualified buyers who are coming to really see what the neighborhood looks like on a particular day. They’re coming to see what the house looks like, they’re coming to see what the house looks like with furniture in there if it’s furnished and very likely we get buyers who are not even approved but they’re interested and then they come by and they see the house and their happy and their like;
“Well, you know, this is the price of the house. This is what the house looks like. It’s perfect. It’s what I’ve been searching for.”
Right there, you get an interested party that you can now set on the road to getting approved, pre-approved and you may just have a buyer for that house if you did not have one before. So, it’s allow the house to be viewed by prospective buyers. It’s allowing the house to be previewed by your nosy neighbors and its giving you a chance to see the type of people who are interested in purchasing a house. And when I say the type of people, you can either be a single person, it could be just a newly wed husband and wife or it could be a family. A family of four, a family of five and these are the families or the interested parties that really need to know whats going on in the community.
When I say “type of people”, I am not discriminating. I’m not meaning a black person, a white person, a Chinese person, an Indian… it’s not that . I rather clarify that before someone gets offended. That is not what I meant. It’s good to see who wants to buy the house. Is it a family? Is it a newly wed? Is it a single person who has gotten a great job and they have now want to invest in real estate. So you get a chance to see that. That’s what an open house does.