Sales of Downtown Chicago real estate definitely seem to be seeing a strong upward swing over recent months. The summer selling season was a good one, and many sellers found themselves selling their condos quickly. Yet even with these positive trends, it seemed like Chicago condo sales went either one of two directions. Some sellers put their homes on the market and sold them quickly, often with multiple offers, while others sat, watched and waited with no real interest.
If you’re considering selling your piece of Downtown Chicago real estate, you will want to know what you can do to put yourself in the “multiple offers” category. With the right sales strategy, you can position your home to receive multiple offers, so you can sell quickly and for a good price.
1. Price It Low
People are always looking for a bargain. Whether they are shopping for a used car, a gallon of milk or a condo, they want to walk away feeling like they got a steal. Homes that see multiple offers often are sold for more than they were listed for. This means that they are listed for less than what the seller wanted to get. A value-priced property will get more showings, which is the first step towards multiple offers. Work with your agent to study comparable sales data from recent Downtown Chicago real estate sales, and do your best to price your home so that it comes in at a slight discount compared to the others.
2. Dress It Up
Homes that people want to buy are the ones that look aesthetically appealing. When a buyer walks into your condo and sees updated flooring, fresh paint and an overall appealing ambiance, the home is burned into the buyer’s mind. Other homes in worse shape simply will not be appealing. If you want multiple offers, clean your home inside and out, then de-clutter and stage it. Finally, make sure everything is in good working order so that it will shine when buyers come through.
3. Make It Accessible
You aren’t going to sell your home with multiple offers if no one can get a chance to view it. There are simply too many other pieces of Downtown Chicago real estate that likely meet that buyer’s need. Keep your home ready for a showing at all times, so that interested buyers can get into your house today, no matter when they call. Restricting access will limit the number of offers you get, so don’t do it.
4. Give It Exposure
If you take the first offer that walks in your door, you may not be getting the most possible for your home. Yes, selling immediately is appealing, because you have less hassle and stress, yet if your goal is to see multiple offers, you need to let the home have some exposure. Ask your agent if you can list your home with an offer date some time in the future. This will give more interested buyers a chance to see it.
5. Change Is Good
If you haven’t seen any action on your home and it’s been on the market for a while, it’s time to make a change. Sometimes, a new marketing plan and a lower price will instantly grab the attention of buyers that previously overlooked it. Remember this: buyers are attracted by large reductions, rather than slow and steady reductions. Don’t be afraid to drop your condo’s price by $20,000 or more, because you just might get that back through multiple offers.
Yes, it is possible to see multiple offers in the current Downtown Chicago real estate market, and we are ready to show you how to make this possibility a reality for you. View are marketing plan here.
Call today to discuss our marketing plan to sell your Chicago condo.