Buy and sell your condo, loft or townhome with the help of Chicago Condo Experts.

AGNES DONNADIEU - Your Chicago Condo Expert - 773-862-3886
Specializing in Condominiums - Lofts - Townhomes - New Constructions - Resale.
Servicing River West, Bucktown, Wicker Park, Ukrainian Village, West Loop, Old Town.

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A successful sale is based on factors such as price, terms, condition, location, and exposure. Since you can't control them all, you may have to emphasize one over another.

Why should you get the price right the first time?

An overpriced property will sit on the market indefinitely costing you time and money, mainly if it is vacant or if you have already signed a contract for a new home.

Reducing an overpriced listed property signals to buyers that the property was (and probably still is) overpriced.

If the house is underpriced, it most likely will sell quickly, to the detriment of your net proceeds.

What are the factors leading to higher prices?

Location.

Condition of the property.

Amenities that come with the property.

How to set the asking price?

Get a CMA (Comparable Market Analysis) of similar properties sold in your area.

Get an appraisal or estimated valuation placed specifically on your property by a professional appraiser who takes into account location, condition and sale prices of comparable properties in the neighborhood.

Should you fix your condo up before it goes on the market? It depends mainly on your asking price, market time available and current condition of your property. If you have to sell quickly, only do the "cosmetic things" to improve the inside and outside look (also called curb appeal) of your home.

How to I create "curb appeal" to bring traffic to your property? Make sure your property looks CLEAN - new paint, immaculate lawn, newly sealed driveway, potted plants at the front door... and NEUTRAL - neutral paint colors, a clean yard... Make it pleasant for the buyer to look at your property like if it was already theirs.

Why your home does not sell? Perhaps your are not really committed to sell and would rather just test the market to see if it can sell at a higher price. Or your property is not in a selling condition at any price.

Why is it good sense to hire a real estate agent to represent you? Unless you have significant home selling experience and current knowledge of applicable laws, regulations and market conditions, selling your property on your own can be risky and have devastating financial consequences. When you have a legal problem you hire a lawyer even if you know one or two things about law. Same applies to real estate.

What about home warranties? Buying a one-year Home Protection Plan gives your buyer peace of mind and provides you with a unique tool to sell your property quicker. After investing substantial cash savings in a down payment and moving expenses, the last thing a buyer wants is to worry about costly home repairs.

In order to join the ranks of few successful American homeowners currently handling their own sales, you should know that the selling process involves:

Accurate pricing at a fair market value. What determines the fair market value of a property is what an informed buyer is willing to pay.

Selecting a qualified buyer.

Creating/paying for all your advertising expenses.

Scheduling showings/open houses. Your property is really on the market when you're home. You never know when a mistake may cost you the money you're trying to save.

Familiarizing yourself with enough basic real estate laws and regulations.

Understanding/preparing a real estate contract.

Negotiating. Whether in writing, face-to-face, or by phone -- negotiation is one of the great skills you should be looking for in an agent.

Dealing with appraisers, inspectors.

Coordinating the details of a closing.

Before you register with an online For Sale By Owner company, call Agnes today at 773-862-3886 or click on the FSBO RESCUE KIT tab above . You won't find a better offer online! Guaranteed.

SHOULD I GET AN AGENT OR TRY TO SELL ON MY OWN?

The truth of the matter is that agents sell more homes. Many people have, however, had tremendous success selling on their own...

Selling your home on your own requires skill, know-ledge, patience and time. Did I mention the most important attribute of all? Common Sense. If you have these at your disposal you are well on your way to a successful endeavor.

In today's marketplace many people simply cannot afford to hire a real estate agent. The mere fact is that for every dollar you decrease your selling price you increase the number of qualified buying prospects. I certainly can understand why it would be in your best advantage to try and sell your home on your own.

Selling real estate is not brain surgery. It is easier said than done, but certainly not brain surgery. I firmly believe that the simple most important characteristic feature of a successful agent is common sense--that and a telephone will get you a long way!

The information you need to adequately market your home is available right under your nose. Compiling this data to arrive at an asking price is the most important part to get you going in the right direction. An over-rpriced home simply will not sell. Under pricing your home could mean too little profit for you--so be careful.

Other pricing considerations include the reason for the sale in the first place, repairs that need to be made, condition of the property and the time frame with which you have to work.

This is just the tip of the iceberg when it comes to making the decision on whether or not you are able to sell your home on your own. If you are already puzzled and discouraged I strongly suggest you put down the calculator and pick up the phone--call a local real estate and let them go to work for you.

Excerpts from Diane Wilson's article. Diane is a Real Estate Broker, now full time Author.