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STILL WANT
TO GO FSBO?
STOP!
CALL RIGHT NOW
773-862-3886
TO FIND OUT ABOUT
OUR FSBO
RESCUE KIT.
YOU WON'T FIND
A BETTER OFFER ONLINE!
GUARANTEED!
What You Should Know:
1) Overpricing a property almost always increases
the time on the market and adds to the seller's
carrying costs. At the end, overpriced properties
often sell below market value.
2) 96% of the responses you receive on ads
and open houses are not from bona fide buyers.
It is unproductive for a realtorŪ to show properties
to unqualified prospects since he/she gets paid
only if the property closes.
3) Agents who list high and work for a reduced
fee are more likely to have a difficult time
negotiating on your behalf.
4) Don't be fooled by pre-qualification letters.
They are worthless. 30% of the transactions fall
out of escrow because of the buyer's inability to
qualify for a loan, putting YOUR equity at risk.
5) To be the #1 home for sale in a sea of
competition, a property must be priced at
least 3% below the appraised value.
6) Less than 1% of all homes are sold at
open houses; 3% through newspaper ads;
78% through realtorŪ's contacts, firm name
recognition or "For Sale" signs.
7)The first offer is always the best offer.
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In order to join the ranks of the successful 10% of
American homeowners currently handling their own sales, you need to know exactly what's
involved in order to sell quickly at the highest price, including:
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In this strong buyer's market, accurate pricing at a fair market value is essential.
Most For Sale By Owners ask too much and can't sell, or not enough and lose money.
They forget that what determines the fair market value of their property is not what
they want but what an informed buyer is willing to pay.To get a free market analysis
(CMA) of your property, call 773-862-3886. No cost, no obligation.
- Determining whether or not a buyer is qualified.
- Creating and paying for your own advertising.
- Scheduling showings. Don't forget that 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 regulations.
- Understanding (and possibly even preparing) a real estate contract.
- Being ready to negotiate. Although the final decision is up to you, there should be a certain degree of flexibility on the part of both buyer and seller.
Whether in writing, face-to-face, or by phone --
negotiation is one of the great skills you should be looking for in an agent.
- Coordinating the details of a closing.
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FEW MORE TIPS
What determines a good sale?
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.
How important is it to get the price right the first time?
Again, care and time should be taken when establishing the original listing price for several reasons:
- If the house is overpriced, it will not sell and sit on the market. It is a waste of time and money if the house is vacant or if you have already signed a contract for a new home.
- If the house is overpriced with the intention of reducing the price later just to "see what the market will bear", it signals to buyers that it was (and still may be) 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?
- A property in a great location.
- A property in a great condition.
- a property with desirable amenities.
How to set the price?
- CMA (Comparable Market Analysis): A comparison of similar properties in the same general area that compares actual sold prices.
- Appraisal: An estimated valuation is 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?
The type and amount of work depend mainly on your asking price, the market time available, and the current condition of the property.
If you must sell in a hurry, only do the "little things" that improve the inside/outside look of your home.
What is "curb appeal," and how do I create it?
Improving curb appeal is essential to create traffic. It doesn't have to be difficult or expensive. Just keep in mind that the two main ingredients of
a successful sale are
- NEAT - new paint, immaculate lawn, newly sealed driveway, potted plants at the front door...
- and NEUTRAL - neutral paint colors, a clean yard...
Make it easy for the buyer to look at your property like if he/she was already
living there.
What if your home does not sell?
Surprinsingly enough, the number of properties not selling can reach as high as 40-60%. One main reason is that the seller
is not really committed to sell and would rather just test the market to see if he/she can sell at a higher price. Another reason is that the property is not in a selling condition at any price.
Why is it good sense to hire a real estate agent to represent you?
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. According to industry estimates, over 90% of homes are sold with the help of a real estate agent. Trying home remedy for selling real estate could be a waste of time and have devastating consequences, unless you have significant home selling experience and current knowledge of applicable laws, regulations and market conditions.
Setting the right price
Location and price are critical in real estate.
If a property does not sell within a reasonable period of time, it may be because the price is set too high. Sure you can always reduce the price later but
the negative result is that properties, priced too high to begin with, usually end up selling for less. Buyers always become wary when they see a property on the market for a long period
of time and often command a price reduction even if the property has already been reduced.
What is the best marketing tool?
The next best thing in real estate advertising, generally unknown by the general public, is the Multiple Listing System (MLS) which is seen by those who actually buy and sell real estate ( realtors, brokers, agents).
Do you know where you are going?
If you think that, after closing, there is no urgency for you to move out of the property, you cannot be further away from the truth. Buyers generally want Possession at Closing. Keep in mind that a property generally closes within 30 to 45 days, so
make sure to find your new home before beginning the selling process. We can assist you in evaluating these options also called contingencies.
What about home warranties?
Buying a one-year Home Protection Plan gives your buyer piece of mind and provides you with a unique tool to sell your property quicker.
Do you know why? The answer is simple. 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.
Contact us for more information on our Home Protection Plan.
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3818 W. Lincoln
1819 S. Michigan
1161 W. Madison
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The Condo Experts - Website designed by and hosted by |
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