Broker's Open House

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DEFINITION of 'Broker's Open House'

An event designed to showcase one's home for sale to other real estate agents. Broker's open houses differ from standard open house events in that they are designed strictly for real estate agents and not for the general public. A broker's open house gives the seller's agent an opportunity to display the home to other brokers and answer any questions those brokers may have.

INVESTOPEDIA EXPLAINS 'Broker's Open House'

Many real estate agents believe that a broker's open house is infinitely more valuable than a standard open house, because it helps to spread the word about the home being offered for sale and also because they facilitate the exchange of unbiased - or at least less biased - information. For example, another agent may offer some professional feedback as to how well the home shows relative to other homes in the neighborhood.


On the other hand, with multiple pictures and virtual tours available via the Internet, the costs of a broker's open house outweigh its benefits, in the minds of some.

RELATED TERMS
  1. Real Estate

    Land plus anything on it, including buildings and natural resources.
  2. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  3. Open House

    A scheduled period of time in which a house or other dwelling ...
  4. Real Estate Agent

    A person with a state/provincial license to represent a buyer ...
  5. Realtor

    A real estate professional who is a member of the National Association ...
  6. Open Listing

    A property listing that uses multiple real estate agents in order ...
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