What is the primary function of an "open house" in real estate?

The primary function of an "open house" in real estate is to showcase a property to prospective buyers. This event allows potential buyers to tour the home without the need for a scheduled appointment, providing them with an informal opportunity to explore the property and envision themselves living there. An open house aims to create interest in the property, offering real estate agents a chance to interact with potential buyers, answer questions, and highlight the features of the home, which can ultimately lead to sales.

Other activities, such as conducting a formal bidding process or finalizing sales agreements, do not occur during an open house. Additionally, while home inspections may be conducted by professionals as part of the buying process, they typically take place after a buyer has shown serious interest in a property rather than during an open house event.