Pros and Cons of Holding Open Houses in the Louisville, KY Real Estate Market

Pros and Cons of Holding Open Houses in the Louisville, KY Real Estate Market

If you currently have your home listed on the market, you have probably wondered about the importance of holding an Open House. Will my house sell quicker if we hold an Open House? Does everyone do it? What if we don’t really want to have an Open House? These valuable questions are all part of the thought process when selling your home. Ideally, you have a Realtor who has discussed the pros and cons with you. A knowledgeable Realtor can offer their insight as to why or why not an Open House is necessary.

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Here at the Louisville Real Estate Pros office, we have quite a bit of personal experience in the home selling process. Whether you are a first time home seller or you are familiar with the process, we have the knowledge and current market research to back up our view on why an Open House may or may not be beneficial for your specific home for sale.

Selling your Louisville home? It might be worth more than you think!

Pros of Holding a Louisville Open House

An Open House can give your home for sale a lot of extra exposure. Think about the marketing involved just when listing your home. An experienced Agent will market your home within their own office or area. They will create online articles or blog posts to market your listing online. (Nowadays, many buyers start their search on the internet before getting in touch with a Realtor.) A knowledgeable Agent will place a sign in a visible section of your property and possibly at busy intersections nearby. They will continue to reach out to potential buyers in your market until your home is sold. Likewise, the same types of marketing happen when you hold an Open House. Newspaper ads can be placed. The time and location of your Open House will be shared online across various Real Estate companies. There may even be Open House signs placed near your home to grab the attention of those passing by. An Open House certainly offers an extra boost of exposure across all the types of Real Estate marketing. 

An Open House offers a no pressure situation to buyers. When someone is just beginning the home buying process for the first time, they may have no idea where to start. An Open House provides these beginning buyers with a way to get a feel for what type of property they are looking for. The period available for potential buyers to walk through your home gives them plenty of time to discuss what they may like or dislike. It’s a true no pressure situation.

An Open House may push an already interested buyer to make an offer on your home for sale. Some active buyers use Open Houses to walk through properties that they have already seen during a private showing. Maybe they visited your property early during their home search, or maybe they were on the fence initially. If a buyer is interested in your home and sees a large number of other buyers also viewing your property, they may be driven to make an offer. Buyer competition is a great thing for a seller; competition can lead to multiple offers. That is definitely a win for a home seller.

Cons of Holding a Louisville Open House

Pros and Cons of Holding Open Houses in the Louisville, KY Real Estate Market

An Open House will bring in a lot of unqualified buyers. Whether it’s a potential buyer who has not yet received a mortgage pre-approval or just a neighbor who wants to see your recent renovations, Open Houses frequently drawn in people who most likely will not be buying your property. So although there could be a high level of traffic walking through your home, it doesn’t necessarily mean that many people are interested in buying.

An Open House is not statistically proven to lead to a direct sale of your home. It is pretty rare that a buyer, who views your home for the first time at your Open House, will in turn make an offer. Most buyers choose to work with a knowledgeable Realtor. If your home meets the buyer’s requirements, their Realtor has probably already shown your home’s details to them. If someone is serious about your property, they will schedule a private showing.

Some Final Thoughts on the Pros and Cons of Open Houses

• Each home for sale is different than the next. Your Realtor may suggest an Open House if it will help gain the exposure your home needs. Location, number of days on the market, and overall number of showings are all factors that play into your Realtor’s suggestions.

• If you are beginning the process of listing your home for sale, ask your Realtor about their view of holding Open Houses up front. Whether or not you decide to hold one, the decision should be a part of your plan from the start. With an experienced Realtor, a solid game plan, and up-to-date marketing tools, selling your home doesn’t need to be a lengthy process.

• If your Realtor suggests skipping the Open House, be sure to discuss other marketing options with them. They should be able to offer you a tried-and-true marketing plan; it should be a plan that has proven its worth. Ask for statistics. A Realtor that has real experience in your specific Real Estate market should be able to provide you with their past successes. Don’t be afraid to interview your Realtor to be sure they are the right fit for the job.

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Do you have more questions about what it takes to sell your Louisville home? Pam Ruckriegel with Louisville Real Estate Pros at Keller Williams Realty Louisville East has the Real Estate experience you are looking for. Contact her today! 502-435-5524.

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468 Properties
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Open 9/29
8916 Cromwell Hill Rd Louisville, KY 40222
$1,750,000
Subdivision: Hurstbourne Estate
4
Beds
4F21/2
Baths
7,728
Sq.Ft.
1974
Year Built
355
Days on Site
1516235
MLS
Beautiful Mediterranean style home in Hurstbourne Estates. Recently updated ! Open floor plan with lots of light. A painted brick ext., black gutters,tall arched windows, black lantern lamps,...
Open 9/22
4947 Spring Farm Rd Prospect, KY 40059
$1,497,500
Subdivision: Spring Farm Lake
6
Beds
6F21/2
Baths
10,216
Sq.Ft.
2018
Year Built
77
Days on Site
1536859
MLS
Impressive Custom Built home completed in September 2018 just as owner is relocated. This impressive 10,216 square feet has attention to detail and the Wow factor throughout. Every turn is full of...
Open 9/22
12429 Poplar Woods Dr Goshen, KY 40026
$1,399,000
Subdivision: Poplar Woods Estates
6
Beds
5F21/2
Baths
7,309
Sq.Ft.
2017
Year Built
38
Days on Site
1540550
MLS
Prepare to be wowed by this impressive custom built former Homerama home in Poplar Woods Estates. The home features 7,300 square feet of luxurious living space, plus an incredible outdoor...
Open 9/22
6525 Longview Ln Louisville, KY 40222
$1,295,000
Subdivision: Glenview
5
Beds
5F11/2
Baths
7,513
Sq.Ft.
1987
Year Built
32
Days on Site
1540936
MLS
Sprawling Glenview estate on 5.65 acres featuring a 3 car garage, an impressive pool and a magnificent lighted tennis court. The combination of acreage and privacy of Longview Lane truly makes this...
Open 9/22
15401 Deer Run Rd Louisville, KY 40299
$975,000
Subdivision: Deer Trace Estates
5
Beds
4F11/2
Baths
4,790
Sq.Ft.
2017
Year Built
209
Days on Site
1525382
MLS
This exquisite custom built home is less than two years old and features all the upgrades and amenities one could ever dream of! Enjoy the privacy of nearly 7-acres of lush, green rolling land with...
Open 9/22
17001 Epson Ct Louisville, KY 40245
$949,000
Subdivision: Polo Fields Estate
6
Beds
6F11/2
Baths
10,950
Sq.Ft.
1999
Year Built
48
Days on Site
1539634
MLS
Words simply can't describe this fabulous home, please view the photos and virtual tour to see for yourself! Truly unique in design, the home is spacious yet extremely comfortable. The vaulted great...
Open 9/26
18908 Ridgeleigh Ln Louisville, KY 40245
$900,000
Subdivision: Locust Creek
6
Beds
4F11/2
Baths
7,818
Sq.Ft.
2004
Year Built
123
Days on Site
1532793
MLS
New Paint September 2019! Located in the desirable Locust Creek neighborhood, this stunning executive home at 18908 Ridgeleigh Lane will not disappoint. Featured in Louisville Magazine, The Wall...
Open 9/22
1002 Alta Vista Rd Louisville, KY 40205
$879,900
Subdivision: Alta Vista
4
Beds
3F11/2
Baths
4,789
Sq.Ft.
1968
Year Built
177
Days on Site
1528067
MLS
Live the dream ! This custom-built home embodies the style and grace you've come to expect from an address as prestigious as Alta Vista Rd. Step through the front door and you'll immediately notice...
Open 9/22
9418 Hobblebush St Prospect, KY 40059
$850,000
Subdivision: Norton Commons
5
Beds
4F11/2
Baths
4,587
Sq.Ft.
2011
Year Built
179
Days on Site
1527856
MLS
Luxury is quite the understatement, as this home exemplifies OPULENCE at every corner. With trim throughout the entire house, it's nothing short of immaculate finishes. Topped off with complimentary...
Open 9/22
2002 Fairway Vista Dr Louisville, KY 40245
$825,000
Subdivision: Lake Forest Estates
6
Beds
5F11/2
Baths
7,294
Sq.Ft.
2000
Year Built
101
Days on Site
1534895
MLS
Welcome to this luxurious Lake Forest estate with an abundance of amenities, and located just steps from the Lake Forest Country Club, pool and tennis courts. The open floor plan has high quality...
Open 9/22
11107 Peppermint St Louisville, KY 40059
$824,900
Subdivision: Norton Commons
3
Beds
2F11/2
Baths
2,850
Sq.Ft.
2016
Year Built
9
Days on Site
1543067
MLS
Welcome to luxury at its finest in the prestigious Norton Commons community. Featured in HOMEARAMA, masterfully designed in modern luxury by J.P. Waller Design Group, this home uniquely embodies...
Open 9/22
1909 Overlook Terrace Louisville, KY 40205
$795,000
Subdivision: Cherokee Plaza
5
Beds
5F11/2
Baths
5,382
Sq.Ft.
1900
Year Built
3
Days on Site
1543694
MLS
The allure of this historical Zimlich farm home dating back over 100 years is undeniable; combined with the turn key updates it presents a rare opportunity that exudes warmth and comfort. The home...

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