Tips For Home Sellers In Chicago On Things That Make Or Break Your Sale
This BLOG On 5 Tips For Home Sellers In Chicago On Things That Make Or Break Your Sale Was Written By Julie Hayward
Julie Hayward is one of the top-producing real estate agents in the country.
- Julie is the owner and managing broker for EDGE REALTY LLC which is a prominent real estate firm headquartered in Chicago, Illinois
- Julie is a top producing realtor, a managing broker, and author and writer
- Julie’s first book will be launched in a few weeks called Opportunity Knocks
- Knowing the area is one of the most important factors in being a top real estate agent
In this article, we will discuss and cover tips and advice for home sellers on things that make or break the sale of their homes.
Importance Of Location And Neighborhoods
Julie Hayward and her team of real estate professionals at EDGE REALTY LLC are experts in Chicago and its surrounding six counties:
- Cook County
- Will County
- Lake County
- Kane County
- Mc Henry County
- Du Page County
Gustan Cho Associates is blessed to have Julie Hayward as our guest writer.
Julie Hayward’s 5 Tips for Home Sellers In Chicago On Things That Make Or Break Your Sale:
Tip #1: Take Your First Buyer Seriously
The first tip for home sellers is to take your home buyer seriously.
- Ninety percent of the time, the first buyer is the best buyer
- Real estate agents everywhere will tell you the same
- The buyer who makes the first offer is highly motivated and ready to do business
- That is why they are quick to the plate
- The first offer might be lower than you’d like
- But consider it a starting point and move on to negotiations
- Sellers can hold off in hopes of better offers
- Sellers may risk sitting on the market too long and those offers may never come
- Then the property will grow stale
- Three months later, the seller will end up taking 5 percent less than the first offer they received
- By this time, that first buyer has already bought the next house on the list
- This is because they were motivated to buy a house
The home seller is left kicking himself or herself and settling for a lower price.
Tips For Home Sellers #2: Don’t Offer A Credit At Closing Versus Doing Repairs
The second Tips For Home Sellers is to not offer credit at closing versus doing repairs.
- Does the back deck need refinishing?
- Do you have a faucet that leaks or a cracked window?
- Invest the time and money necessary to make your home as move-in ready as possible before putting it on the market
- The average buyer doesn’t really want to deal with repairs after they close
- When they discover faults, they will want a discount from the purchase price, or credits at closing
- These amounts are often far more than it would cost to fix yourself
- If you do the repairs beforehand, you control the money spent on repairs and the price
- Sellers will also spend less time going back and forth in how much the repairs are going to cost and if the repairs you propose are up to the buyer’s standards
- Thus, the property will sell faster, you will put more money in your pocket, and you will save yourself the hassle
- The $500 or so you invest in a plumber or electrician before you put the home on the market could save up to $5,000
This will spare you requests for credits at closing and eliminate the headache of running around to get multiple bids for projects in order to find a “fair price”.
Tip #3: Don’t Make Highly Personal Changes To Your Home
The third Tips For Home Sellers In Chicago is not to make highly personal changes to your home prior to listing it.
- Recently, a seller I worked with in Chicago painted her bathroom red so her house would stand out
- It stood out so much that buyers that didn’t like the color and passed on the house
- Think carefully about changes you make to differentiate or improve the home
- Changes should be neutral in color and style to accommodate any buyer’s décor
- Most buyers add their own personal touches to the home after they close anyway
- Your attempt to accomplish this for them is a losing battle
- Trying to convince a buyer they like blue when they really like red is like trying to convince your four-year-old they like vanilla ice cream when they really like chocolate
- Not likely
Tips For Home Sellers #4: Don’t Overprice The Home
The third Tips For Home Sellers In Chicago is do not overprice your home.
- When you price your home too high, you’re not fooling anyone
- Buyers have done their research and know the comps in your neighborhood
- If they don’t, their agent does
- If your asking price is too high, your home may not sell as quickly
- The longer it sits on the market, the more stigmatized it becomes
- Buyers start to think something may be wrong with it since it’s been sitting on the market for so long, and they move on
- You may end up reducing the price multiple times to generate interest
- If you price the home right from the beginning, the final sale price will be higher than if you’d priced it too high from the beginning and you will sell faster
You’ll also have saved yourself months of frustration, mortgage payments, and property taxes.
Tips For Home Sellers #5: Don’t Make Your Home Difficult To Show
The fifth and last Tips For Home Sellers In Chicago is not to make your home difficult to show. Ninety percent of buyers are shopping online.
- If your home is priced right and the online pictures are good, chances are you could get showing requests within hours of listing the property
- A serious seller must be flexible and make the home easy to show to potential buyers
- This means accommodating the showing requests, agreeing to broker tours, open houses, and schedule interruptions
- If it is difficult for the buyer to make an appointment or showing times are narrow, they may give up easily and move on
- This also can send the message you aren’t serious about selling
- Once your home is listed, you should plan to show within 24 hours if requested
If you have young children or pets, work from home, are going on vacation, or any other restriction that may make showing a challenge, plan specific showing times so buyers know to request the best times.
About The Author
Gustan Cho Associates would like to thank Julie Hayward in writing this BLOG. We are all excited about the launch of Julie’s new book, OPPORTUNITY KNOCKS, which is expected to be released in a few weeks. Contact us if you would like a complimentary copy of Julie’s book. We do have a limited amount of her new book available to our viewers. If you like this blog, you will love her books because the content on this blog will be covered in her book.