The success of selling your house depends on the market you’re selling into. In this article, you’ll read about how to take advantage of a seller’s market in Chicago for home selling…
In a seller’s market there are fewer houses for sale than what the current pool of buyers are demanding. This shortage of housing supply creates a seller’s market as the property owner has a product that many buyers want and are having a difficult time finding.
If you are fortunate enough to be in a position where you are selling you home during a seller’s market, you’ll benefit from the numerous advantages these favorable market conditions offer. It is important to understand that even in a seller’s market you may still have a difficult time selling your specific property due to unfavorable features it presents such as poor condition or location.
In today’s post we’ll take a look at a few actionable steps to can make to take advantage of selling during a seller’s market.
How To Take Advantage Of A Seller’s Market In Chicago For Home Selling
Advantage #1 You Can Ask A Higher Price
Following the simple rule of supply and demand, you can ask a higher price (and often get it) because buyers don’t have as many choices available to them. So the first way to take advantage of the seller’s market is to simply ask for more money.
Advantage #2 Ask For Or Remove Conditions
Price is just one component of selling a house. Another component is the conditions that are also placed on the sale – including an inspection, a site survey, repairs, or appliances that will remain in place. But these are what the buyer might ask for. As a seller, you can ask for certain conditions, too. For example, why not ask to just leave the house in as-is condition for the buyer to clean up?
Advantage #3 Generate Multiple Offers
When you only have one offer, you sometimes feel forced to take it. But when you’re presented with multiple offers from multiple buyers, you can get picky, and you can also negotiate from a position of strength. Generate multiple offers by getting a lot of interest and only accepting offers at a certain time. Then go through each offer at your leisure to determine which one is right for you.
And that’s how to take advantage of a seller’s market in Chicago for home selling! If you’re selling your house in Chicago during a seller’s market, use these tips to take advantage of the situation and enjoy a higher return, the addition or removal of conditions, and multiple offers to choose from.