Standing out in a buyers market can be a challenge when there is so much competition to be had. Are you thinking about selling your house in Chicago?
If so, we’ve come up with some great ways to help your home to stand out from the rest. No matter what the market is like, with the right strategies in place, you will be able to sell quickly and for the price you want.
Offer Incentives
Buying a house requires an awful lot of cash in the bank and is the common obstacle for first time home buyers. Between the down payment, transaction fees, lender fees, furniture, and repair costs most buyers imply can’t purchase a house because they don’t have enough cash saved up.
One of the ways to attract a wider pool of potential buyers is to offer a credit to cover the closing costs for the purchase of your house. This will allow the buyer to purchase the house without having to bring a ton of to the closing table. Offering large ticket items such as furniture or a television can be another great incentive to entice more potential buyers.
Pay for Repairs
Make sure your property is in turn key condition to appeal to the widest pool of buyers. Most buyers have a difficult time saving up enough money to afford the down payment and closing costs so odds are most buyers will walk away from a house requires a lot of repairs they will have to pay out of pocket for.
The Price is Right
Every time you alter the price, the change is recorded on the MLS. People can easily see the price history, and the changes they see give subtle, subconscious messages about the house. Dropping the price a few grand every couple weeks can make you look desperate or like there is something wrong with the house. You might appear as if you don’t know the actual value of the house and are just fishing for someone to come along and buy. This will shoo away many buyers. If you are going to drop your price, plan on doing it in one bold move. Instead of dropping the price by say $2000, drop it instead by $15,000. This will catch everybody’s attention and will tell people you are ready to sell now. Such a huge drop can be looked at like you would look at a sale. People buy more when they think they are getting 20% off.
Use the Right Agent
Don’t choose the agent with the loudest voice or the best website. Don’t fall for the salesman showmanship so many agents employ. Instead, work with the agent who immediately provides you with stats, market reports and who will crunch numbers with you until you reach your goals. The agent who tries to “wow” you with the highest price, will likely be compensating for their lack of knowledge.
Curb Appeal
First impressions matter. Studies show that people decide if they will ultimately make an offer within the first few seconds of seeing a home. A bad first impression will stick with them as they view the house, and will likely not lead to an offer. However, with a little raking, weeding, and planting, your curb appeal can change over night. You don’t have to spend a fortune. Simply clean up any clutter and pull the weeds. Cut back anything that has become over grown, and plant a few flowers to add a pop of color. Having a welcoming front yard will immediately make people feel like they are at home.
Now is Not The Time To Go Cheap
There is a lot of competition. If you are serious about selling, spend the money getting good photographs and having a professional stager come in. Bad photos will encourage people to pass by your listing, without giving it a second thought. Pictures say a thousand words and you will want to work with a professional photographer who can highlight your home in the best way possible.