What is an open house?

An open house is an event specifically designed to give the public access to a property for sale, allowing them to view the home without needing an appointment. Typically organized by the listing broker, this event is meant to attract potential buyers and create interest in the property. It's a method to showcase the home's features in a welcoming environment, enabling prospective buyers to evaluate the property at their convenience and ask questions about the listing, its price, and the neighborhoods in which they are situated.

The other options describe scenarios that do not align with the common understanding of an open house. Private showings are exclusive and pre-scheduled, aimed at serious buyers only. Broker meetings, while important for networking and discussing listings, are not focused on public engagement with properties. Similarly, although marketing strategies may be employed to attract investors, they don't specifically capture the essence of what an open house entails. Thus, the first option accurately reflects the purpose and process of an open house within the real estate context.