Are you are a Chicago homeowner wondering how to get your home to sell in today’s challenging housing market? Aside from hiring an experienced Chicago listing agent (the likes of Dream Town’s expert sales team), you can take control of the situation by using these 5 tips to better position your place for sale.
Home Selling Tip #1
First and foremost, you must price aggressively. This is fairly common knowledge among anyone who is trying to buy or sell a Chicago home in the current real estate market. It can be hard however for a seller to follow suit when the homes you’re competing with are bargain-priced foreclosures and distressed properties. But, if you really want your place to sell, experts suggest you ask for a minimum of 1% below the competition, that is to say, set your list price for at least one percent less than what other homes similar to yours are asking or have sold for.
Home Selling Tip #2
Use the Internet to advertise your listing. In order to get offers you need buyers to know your home is for sale and today the best way to let buyers know about a property is online. Nine out of ten buyers use the web to search for homes for sale. And you can bet they want to see everything about the property right there on their computer screen, or in many cases, now on their smart phones. Assume a buyer is looking at dozens of online listings a day and yours needs to be every bit as comprehensive and high-tech as the next to garner a second glance. In addition to listing price, property tax and square footage, your listing needs to include photos of the interior and exterior of the home; and things like a virtual tour, floor plan and map of the surrounding area. People are accustomed to finding everything they want instantaneously online these days, housing is no different. Make sure your listing can be easily found on the web or you’ll be missing out on a huge percentage of active house hunters.
Home Selling Tip #3
Take high-resolution photos of every single room in your house, as well as the exterior of the home. Get as many angles as possible of each room because buyers often judge properties on the pictures they see online. In many cases, buyers will think there is a problem with a room if there isn’t a photo of it, so make sure to show as much of the house as possible. Take the photos during the day for the best light. Open blinds and turn on lights if necessary to brighten up the space. Hiring a professional real estate photography company is a smart idea because oftentimes they can use the photos to make a virtual a tour that can be posted on YouTube, Facebook and other video sharing sites.
Home Selling Tip #4
Entertain all offers and be creative when wheeling and dealing. Just because it is a buyer’s market doesn’t mean all buyers can waltz in and purchase whatever house they please. It is difficult to get a mortgage loan these days, which has prevented a number of willing buyers from being able to purchase homes from sellers who have accepted their offers. For this reason, it may make sense to take an all-cash offer over a higher priced offer that would require financing. Whenever you do get an offer, ask about the loan situation and what percentage down payment the buyer can afford. Most lenders require 20% down now, so if your buyer doesn’t have that much to put upfront it won’t matter how much they are offering on your house. Remember, many times buyers want the home just as much as you want to sell it, so they may be willing to make concessions in order to close the deal. Keep open communication with potential buyers through your respective agents to work together on an agreement both parties feel comfortable with.
Home Selling Tip #5
Home staging is another essential step in home selling. Your property needs to look good (and be in good shape) to grab attention in this market. For the most part, your Chicago condo or house will probably be in better condition than the foreclosures and bank-owned properties for sale. Well, this is your chance to really highlight that fact with a little staging. Simple upgrades like painting the walls and trim, replacing cupboard door knobs and outdated fixtures, planting flowers and pruning hedges will make a big difference in your home’s appearance. It is also important to depersonalize and de-clutter your place by taking down and putting away all family photos, kid’s artwork, souvenirs, mementos and excessive wall hangings, decorations and items on shelves. Take everything off the countertops and tables, leaving only one item per surface (such as a vase of flowers on the dining room table) to create a sense of cleanliness and space. Consider rearranging furniture or taking some pieces out of the house and storing them for the time being to make the rooms feel bigger and more versatile. Simplify, minimize and update.
