Open house is a term used in real estate to refer to the public showing of a home that is listed for sale. In estate administration, the sale of a home is typically the largest financial transaction and therefore an executor will work with a real estate agent who hosts the open house with the intent of getting the best possible price for the home on the open market. Executors should factor in real estate commissions to any calculation of the estate's net worth when considering selling a property.
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