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How To Price a House for Sale in Chicago Right
Buyers Market or Not: Why Pricing It to Sell is the Smartest
Decision You Can Make with Any Chicago Homes For Sale
Having lived with a house for sale in Chicago for just six weeks, Olivia Gickler was relieved to get to the closing table. Had she been asked while sitting there about the key to the sale her answer would have been simple: price.
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"My neighbors house went on the market the same week mine did," said Cooper. "Both have similar floor plans. But they insisted on a higher price than the last similar property like theirs that sold in the neighborhood. My realtor suggested we under cut that price. I had interested buyers from day one. They have yet to get an offer." Overpricing is deadly. It's the biggest mistake you can make in a housing market gone soft. "Pricing it to sell was the smartest decision I could have made," added Gickler. "Since I could only take so much life in a fish bowl with strangers going through my house." |
Too many fail to realize that the first week or two after real estate is put up for sale is critical. Those who have been looking for awhile jump on any new Chicago homes for sale. Get greedy and you might well lose out on your selling prime time.
Gickler went on, "Forget about what houses sold for six months ago. That's ancient history for now. Besides in a tepid market it's not likely you'll get top dollar anyway. Plain and simple you need to price it right to sell it."
"Do like I did. Take a Sunday and scoop out the competition. Stop by other Chicago homes for sale nearby. You want to see how they're priced and how yours compares. Make notes so you don't forget what you've seen."
Next, bring in at least three potential listing agents. Get each of the Chicago Realtors you talk to, to commit to a selling price. Just don't be taken in by the any who try to dazzle you with a high price just to get the listing. Remember what you learned that Sunday you scooped out the competition.
To play the pricing card best, you ideally want to see sales figures from comparable houses that sold within the past three months. At that point you're ready to set your selling price. One that will give you the best shot of making the sale within that critical first two or three weeks on the market.
"Sure I felt like I wasn't getting all I might for it. That's only normal. But in my case a quicker sale was better than getting a higher selling price. Especially since I bought the house several years ago now. And had some equity to play with."
"And you know what? In the end I had two bidders who bid up the price to what I was hoping for to begin with," reported Gickler with a smile.
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