Humber/Ontario Real Estate Course 4 Exam Practice

Which option describes an incorrect statement about open houses?

1. Only the listing salesperson can hold an open house

2. Open houses can help in marketing the property

3. Meeting neighbors can be beneficial

4. They help in meeting prospects

5. Open houses show the seller the salesperson's efforts

6. They potentially bring in the right buyer

The correct answer is: Only the listing salesperson can hold an open house

The statement concerning open houses that is not accurate states that only the listing salesperson can hold an open house. In reality, while it is common for the listing agent to conduct the open house, it is not a requirement that only they may do so. Other agents from the same brokerage or even agents from different brokerages can host open houses, allowing for broader marketing and exposure of the property. Open houses serve multiple beneficial purposes, including enhancing the visibility of the property by inviting potential buyers to view it without the need for an appointment. They also facilitate relationship-building between the neighbors and the sellers, promoting community connections. Furthermore, open houses provide an opportunity for agents to meet potential buyers, showcasing their efforts in marketing the property. Lastly, they can indeed attract the right buyer who may not have otherwise discovered the property.