What does “open house” mean?

The term "open house" specifically refers to a scheduled event during which a property is made available for viewing by prospective buyers without the necessity of an appointment. This format allows potential buyers to walk through the home, explore its features, and ask questions, creating an accessible environment for assessing the property. Open houses are commonly used in residential real estate as a marketing strategy to attract multiple interested parties simultaneously, providing a unique opportunity for buyers to get a feel for the home and the neighborhood.

In contrast, the other definitions do not align with the standard understanding of an open house. For instance, requiring appointments for viewings contradicts the fundamental concept of an open house, as the primary advantage is that it eliminates this barrier. An event intended only for real estate agents excludes buyers and therefore does not serve the purpose of showcasing the property to potential purchasers. Finally, while online property showings have gained popularity, especially recently, this is not the traditional definition of an open house, which typically occurs in person.