20 People to Know in Real Estate: Elizabeth Monarch

Elizabeth Monarch

Owner, The Monarch Group, and principal broker, eXp Realty

Years in current job: Five

Years in the real estate industry: 22

With high interest rates and low housing inventory, what are your predictions for the local housing market in the coming year?

As someone deeply rooted in Kentucky, I’ve witnessed firsthand the resilience of our real estate market.

Despite challenges like rising interest rates and limited inventory, I believe our local market will remain strong. Louisville’s unique charm, affordability and vibrant communities will continue to attract both buyers and sellers. To navigate these conditions successfully, it’s crucial for both parties to stay informed, be flexible and work with experienced real estate professionals who understand the nuances of our area.

What’s the most important thing to homebuyers right now?

In our local market, what matters most to homebuyers are key economic factors such as housing affordability, interest rates and supply availability. Louisville offers a unique blend of culture, arts and outdoor activities that appeals to families and individuals alike.

As a real estate professional, I always emphasize these economic factors when helping clients find their dream homes.

What has been your biggest surprise (good or bad) when showing a property?

One pleasant surprise in Louisville’s real estate scene is the hidden gems we discover during property showings. From historic homes with rich stories to modern designs tucked away in thriving neighborhoods, the diversity of our city’s properties always astonishes me. On the flip side, occasional challenges arise due to property condition or unforeseen issues, but these moments reinforce the importance of thorough inspections and transparent communication in our industry.

With changes coming to short-term rental regulations, what’s been the appetite for investment properties?

Louisville’s appetite for investment properties remains robust, even with evolving regulations. Many investors are attracted to our city’s potential for rental income, thanks to events like the Kentucky Derby and the steady flow of tourists.

However, it’s essential for investors to stay informed about changing regulations and work with experts who can guide them through the evolving landscape of short-term rentals.

What barriers must be addressed to make Louisville a more attractive place to live and do business?

To make Louisville a more attractive place to live and do business, we need to address various barriers, including improving housing affordability and availability. Louisville Metro Government, along with planning and zoning, plays a pivotal role in this effort.

They should proactively seek ways to create more housing opportunities while ensuring responsible urban development. Additionally, investments in infrastructure, education, health care and public transportation are essential to enhance the overall quality of life and business environment in our city.

Collaborative efforts between the public and private sectors are crucial to overcoming these barriers and ensuring Louisville’s continued prosperity.

Why did you choose a career in real estate?

I am a second-generation Realtor and auctioneer, deeply rooted in the real estate industry.

What drew me to this field, besides its familial connection, was the realization that in real estate, there’s no glass ceiling to limit my potential. After earning my MBA at Bellarmine University, I made the conscious decision to build my career in real estate.

Today, as the broker of eXp Realty, I am privileged to empower and support over 600 Realtors in this industry. My journey in real estate has been about breaking barriers and creating opportunities, both for myself and for those I have the privilege to work alongside.

What’s Louisville’s best-kept secret?

Louisville’s best-kept secret is undoubtedly its culinary scene. We boast a remarkable array of local restaurants and eateries that celebrate both Southern comfort food and global flavors.

From our iconic Hot Brown to inventive farm-to-table dining experiences, there’s no shortage of delicious surprises waiting to be discovered in Louisville’s food scene.

What advice would you give to someone who wants to build a real estate portfolio?

For anyone looking to build a real estate portfolio, my advice is to start with a clear strategy and a long-term vision.

Focus on properties that align with your investment goals, whether it’s rental income, capital appreciation or a combination of both. In addition, networking with local experts and professionals who understand the market intricacies is invaluable.

Lastly, always conduct thorough due diligence and be prepared for both opportunities and challenges along the way. Investing in real estate can be a rewarding journey when approached with diligence and expertise.