Are you thinking about selling your house in Chicago? If so, you’ll want to watch out for these mistakes homeowners make when selling their houses in Chicago!
Have you sold a house in the past? If so, you might recognize some of the common mistakes outlined below. We work with sellers quite often who wish they would have done things differently from the beginning. Keep reading to learn more about some of the most common mistakes homeowners make when selling a house in Chicago, plus what you can do to avoid them.
Pricing It Incorrectly
When you need to sell a house in Chicago, one of the most important things you can do is price it right from the very beginning. Many homeowners have an inflated view of what their house is actually worth, causing them to set their listing price too high right out of the gate. As such, they will be forced to lower the price which also lowers a potential buyer’s perceived value of the home. When a price is cut over and over again, people may assume there is something wrong with the home. And don’t forget… the longer the house is listed, the lower it is going to drop in the search results.
Not Exploring Their Selling Options
Many people believe that in order to successfully sell their house, a Chicago real estate agent will need to be involved. However, this is not always the case. For some homeowners, selling directly to a buyer such as BAM Home Buyers will end up saving them time and money overall. When a house needs work or needs to be sold in a limited amount of time, a direct sale will often be the best choice. Without repairs, commissions, or waiting to close, you will be able to save both time and money on the sale of your Chicago house.
Paying Too Much To Sell
Selling a house in Chicago will inevitably come with some costs when hiring an agent. There are typically repairs, upgrades, professional cleaning, and staging that will need to be done before the house is even listed. These expenses are out of pocket, without any guarantee of a return. Be careful not to spend too much money making repairs on a house you don’t want. When you sell your house directly to BAM Home Buyers, there are not any costs either before or after the sale. This means you will able to avoid all cleaning and repair costs, in addition to agent commissions and fees.
Not Understanding Their Buyers
When you decide it’s time to sell your house, you need to have a good idea of who you’re selling to. Who’s buying in the area? Are their more families? Students? Retirees? While a sale is a sale, by knowing which demographics are the most prominent in your area, you will be able to increase your odds of finding a buyer faster. If you own a house that needs a little work or isn’t competitive with others on the MLS, working with an investor will likely be the best way for you to sell. Investors such as BAM Home Buyers love the opportunity to purchase fixer-upper houses that we are able to restore to their old glory. We always make fair offers no matter why you are choosing to sell your house in the Chicago area!
Not Properly Staging
When you list your house on the MLS in Chicago, you’ll need to get it ready for the people coming to see it. A good rule of thumb is to remove all personal items so people viewing your home don’t feel as if they are intruding. All clutter should be removed as well as clunky furniture or pieces that don’t serve a purpose.
Many homeowners avoid staging or simply shove all their stuff in a closet and call it a day. The trouble with this is that people are going to look in your closet! To properly stage a house, you may want to consider getting rid of pieces that you’ve been holding on to for too long, or storing these items off-site.
That said, you will also want to avoid showing a house that is completely empty. With the proper staging, you’ll be able to highlight the property’s potential without distracting from the home itself.
To avoid the costs of staging, cleaning, and storage, consider selling your Chicago house directly to BAM Home Buyers. We buy local properties as-is, without any repairs or upgrades required. You won’t even have to clean up.
Selling your house in Chicago is likely one of the largest financial decisions you will make. By knowing what to watch out for, what to avoid, and what to pursue, you’ll be able to choose the best selling method possible for your house in Chicago or the surrounding area.