Many real estate agents consider an open house a vital part of the home-selling process. An open house allows several prospective buyers to see a home in a single day. In some cases, the sellers receive one or more offers soon after an open house and are able to close the deal in a relatively short period of time.
The real estate market has changed in many ways over the past 10 years, and current homeowners are earning much more equity today than they used to have. According to CoreLogic, in the first quarter of 2020 alone, the average homeowner gained approximately $9,600 in equity.