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An open house is public event hosted by a listing agent or a home seller where everyone and anyone is welcome to stop by to view the property for sale. An open house typically lasts for one to three hours and is advertised on the MLS and various property search websites.

Do open houses sell homes in NYC? Or are open houses mostly opportunities for listing agents to network and meet direct buyers?

The truth is, no matter how beneficial open houses can be from a networking perspective, they are downright effective in maximizing the exposure of a listing. That’s because an open house is so much easier for buyers to pop into versus having to make an appointment.

Buyers don’t have to contact a listing agent online and email back and forth to schedule an appointment. Instead, they can browse listings which have open houses posted and can decide to stop by if and when they want to. If something comes up and they can’t make it, no big deal as they never committed to anything in the first place!

As an additional benefit, buyer’s agents are more likely to send their buyers if an open house is posted. That’s because it saves them time from having to accompany the buyer to a private showing.

What Is an Open House by Appointment Only?

An open house by appointment only means a listing agent is available at a certain block of time to show a property, but only if a buyer makes an appointment. If no one makes an appointment, the listing agent will not be there.

An open house by appointment only is posted on the MLS and various real estate websites the same way that a regular open house is. However, most NYC focused real estate websites will differentiate this type of open house by literally calling it an “open house by appointment only.”

Some larger buildings may have nice rooftops or other amenities such as gyms, in which case they may have experienced issues with random walk-in visitors to open houses who don’t leave after the open house and instead hang out in the common areas.

As a result, some buildings only permit open houses to be by appointment only. Other buildings go a step further by requiring two agents to be present for all open houses. Some co-op buildings are so strict that they prohibit open houses altogether, even open houses by appointment only!

What Is a Broker Open House?

A broker open house is a private event posted only on the MLS and visible only to broker members of the MLS. A broker open house functions the same way as a regular open house, with the exception that the event is not publicly posted and the target audience is the brokerage community.

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