A couple toured my home during an open house, returned with a real estate agent a couple of days later, then put in an offer that I accepted.
Our agent did a great job educating them on lender incentives; in fact, he even had a lender at one of the open houses who could help buyers crunch the numbers.
If other buyers sense a greater level of buyer interest in a particular property, it might encourage them to submit an offer to purchase sooner rather than later for fear of missing out.
I had heard many times that open houses mostly draw looky-loos (and nosy neighbors!), and I had a preconceived notion that real estate agents often use open houses to court potential new clients.
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