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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286 Properties Found. Showing 1-12
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5607 Harrods Glen Dr
Prospect, KY 40059
Open House
5607 Harrods Glen Dr Prospect, KY 40059
1 of 85
$1,575,000 ( $75,000 )
Subdivision: Harrods Glen
BEDS
6
BATHS
8
SQ.FT.
6,907
BUILT
2014
ON SITE
119Days
MLS
1498709
Casual elegance, artfully crafted by the renowned builder, Buddy Cox, best describes this home which sits perfectly on just under an acre, in one of the most desired locations in Louisville, Harrods...
6600 Seminary Woods Pl
Louisville, KY 40241
Open House
6600 Seminary Woods Pl Louisville, KY 40241
1 of 69
$1,488,250
Subdivision: The George
BEDS
4
BATHS
4
SQ.FT.
6,023
BUILT
2008
ON SITE
213Days
MLS
1492548
THIS PRICE IS FOR THE SHELL. (Cost for the construction of the unit will be added or you have the option to work with your own builder after purchase.) The George is Louisville's premier destination...
9209 Norton Commons Blvd
Prospect, KY 40059
Open House
9209 Norton Commons Blvd Prospect, KY 40059
1 of 80
$1,200,000
Subdivision: Norton Commons
BEDS
4
BATHS
5
SQ.FT.
5,338
BUILT
2007
ON SITE
7Days
MLS
1508923
Step into a modern day 'vernacular farmhouse' that combines both French country & farmhouse style! This Norton Commons corner lot displays unique features & characteristics developed only from the...
1401 Equestrian Lakes Ln
Finchville, KY 40022
Open House
1401 Equestrian Lakes Ln Finchville, KY 40022
1 of 94
$1,125,000
Subdivision: Equestrian Lakes
BEDS
4
BATHS
4
SQ.FT.
4,557
BUILT
2018
ON SITE
99Days
MLS
1500481
This custom built ranch was just completed in 2018. It sits on over six acres of rolling terrain in the premier development of Equestrian Lakes and is 4500 s.f. with four bedrooms and an additional...
6600 Seminary Woods Pl
Louisville, KY 40241
Open House
6600 Seminary Woods Pl Louisville, KY 40241
1 of 100
$1,097,500
Subdivision: The George
BEDS
3
BATHS
4
SQ.FT.
3,982
BUILT
2008
ON SITE
45Days
MLS
1505247
The George is Louisville's premier destination for luxury living. It is ideally located in the heart of Glenview, directly off U.S. Highway 42 ,with direct access to I-264 and I-265 and just minutes...
13304 Longwood Ln
Goshen, KY 40026
Open House
13304 Longwood Ln Goshen, KY 40026
1 of 78
$1,080,000 ( $25,000 )
Subdivision: Longwood
BEDS
5
BATHS
7
SQ.FT.
7,967
BUILT
2013
ON SITE
56Days
MLS
1504308
Spectacular spacious custom home, within the estates section of Longwood, only 5 years old, finished with exceptional materials and with over $265,000 in improvements made by the current owners over...
2108 Highland Springs Pl
Louisville, KY 40245
Open House
2108 Highland Springs Pl Louisville, KY 40245
1 of 114
$998,500
Subdivision: Lake Forest
BEDS
6
BATHS
6
SQ.FT.
7,888
BUILT
2005
ON SITE
17Days
MLS
1507819
LAKE FOREST custom home in beautiful private setting. Huge Kitchen and Hearth Room overlooks back yard and tree line. Butler's pantry between Kitchen and Formal Dining. Hardwood floors, granite...
9101 Dayflower St
Prospect, KY 40059
Open House
9101 Dayflower St Prospect, KY 40059
1 of 55
$975,000 ( $20,000 )
Subdivision: Norton Commons
BEDS
5
BATHS
6
SQ.FT.
5,107
BUILT
2008
ON SITE
74Days
MLS
1502471
This fabulous custom-built home sits beautifully on a large corner lot and features a unique blend of traditional architecture and modern design. The home was built by Rick Buttorff who customized...
13204 Longwood Ln
Goshen, KY 40026
Open House
13204 Longwood Ln Goshen, KY 40026
1 of 75
$899,000 ( $26,000 )
Subdivision: Longwood
BEDS
5
BATHS
7
SQ.FT.
7,965
BUILT
2005
ON SITE
81Days
MLS
1502006
Situated on just over an acre corner lot in North Oldham County, this gorgeous custom-built, one owner home being offered for a fraction of the original construction cost. The owners are empty...
2109 Starmont Rd
Louisville, KY 40207
Open House
2109 Starmont Rd Louisville, KY 40207
1 of 35
$895,000
Subdivision: Riverwood
BEDS
4
BATHS
5
SQ.FT.
4,418
BUILT
1967
ON SITE
14Days
MLS
1508084
Spectacular renovation on this 4 Bedroom, 4.5 Bath 1.5 Story on a large lot in Riverwood. This renovation involved gutting the home down to the studs, and basically building it back to new again. It...
2121 Cherokee Pkwy
Louisville, KY 40204
Open House
2121 Cherokee Pkwy Louisville, KY 40204
1 of 36
$875,000 ( $24,000 )
Subdivision: Cherokee Triangle
BEDS
4
BATHS
4
SQ.FT.
4,500
BUILT
113
ON SITE
118Days
MLS
1498850
This updated home overlooking Cherokee Parkway and steps away from Willow park and Cherokee Park is ready for your family! You know this house is something special from the moment you walk through...
13820 Taylorsville Rd
Louisville, KY 40299
Open House
13820 Taylorsville Rd Louisville, KY 40299
1 of 73
$850,000 ( $49,000 )
Subdivision: N/A
BEDS
7
BATHS
7
SQ.FT.
6,933
BUILT
1964
ON SITE
116Days
MLS
1498969
Do not miss this opportunity to own this wonderful private estate that has been meticulously maintained by its current owners for over 40 years. This private 12.89 acre estate provides the privacy...

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