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Chicago RE with Julie

Chicago, Illinois

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Chicago RE with Julie

5 Things to do Before Putting Your Home on the Market

Aug. 11, 2008
Categorized in: Selling Real Estate

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before open houses begin.
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Spruce up the curb appeal. Pretend you're a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

Romancing The Buyer

Mar. 26, 2008
Categorized in: Staging

  Why is staging more critical then ever?  Here is why.  A buyer will make an initial reaction whether or not they like your  home in less than a minute.  They will spend the remaining time touring your home confirming that decision and on few occasions, rescinding it. 

Psychology experts have proven that it is human nature to react based on emotion and then seek logic to support that feeling.  You will not get a second chance to make that first impression. 

I have heard sellers say that they would much rather test the market first before having to invest any time or God forbid, money into creating an appealing product.  After all, they're moving, that is the buyer's department.  It is only after the unsuccessful showing after showing (if they are so lucky), that then they realize that perhaps they should have taken that extra step.  Unfortunately, you have already lost those buyers. 

Never, never underestimate the power of emotions when it comes to the decision process of buying a home.  The silly truth is most consumers believe they are quite practical in this regard when in reality, how the home makes you feel is really the deciding factor.  We have seen proof of that in our personal lives with choosing people to date or marry.  More often than not we pick the one that makes us catch our breath, or intrigue us.  So should a home. 

Staging today can make the difference whether or not your house is shown, and certainly if it sells.  It really doesn't require the moon to court a buyer, just a little effort.

Staging Under Fire

Aug. 21, 2007
Categorized in: Staging
Tagged with: buying, selling, staging

Currently under circulation in the real estate media is the alleged deception of staging.  Exculsive Buyer's Agents are attacking the ethics of staging a home and are warning Buyers the dangers of it.  Yeah, okay.  Apparently, there is a need to use scare tactics in order to plug their services.

Let's begin by pointing out the obvious.  If a seller, with or without the aid of their agent, wishes to deceive a buyer by hiding defects in the home, that can be done without staging.  In fact, I would venture to say that if a seller is cheap and lazy enough to not want to fix up their home before putting it on the market, they sure in heck's are not going to spend the money to stage it.   Seriously enough, you cannot blame the art of staging behind the failure to mention the hole in the floor that has been there for years, hidden by the large dresser.  Staging has never been or will ever be the excuse to disguise latent or material defects.  In fact, I think that action could be in some cases, ground for a lawsuit!  I won't even point out that there is the inspection period where a buyer can do a thourghout examination of the house, or even the fact that if we are going to attack staging, well, Developers will just have to ban using Model homes because that IS staging!  Oops, I guess I just did.

In addition,  I am an Accredited Buyer's Representative who has for years serviced and advised buyers (many of them first-timers) with purchasing a home.  I have dedicated myself to my clients and offered many of my insights to the surface marketing of homes from a seller's and seller's agent's perspective.  I am also, for the record, an Accredited Staging Professional. 

Now as I stated, I work extensively with Buyers, but I also list and stage properties.  I have yet to meet a buyer or a seller who is made "dumb" because of staging.  In fact, quite the opposite happens.  For the sellers whom I have staged and sold their home find it fun shopping for the new one and notice how others have been staged.  It's almost a game if you will.  Their appreciation for presentation is solidified.  The messy homes we enter, the first thing my client will say is, "That needs staging!". 

As for buyers new to the market, well, having a background in staging helps me discuss possibilities with them.  Concerns about their furniture, etc. are always part of our dialogue when we view homes.  If an agent is not helping their clients to visualize and even at times, play the devil's advocate, then I feel they are doing a dis-service.  Ultimately, the buyers decide, good or bad, which home they want. 

Lastly, to say that staging blinds a buyer is a crock!  Anyone who has a working knowledge of staging knows that it is never to replace condition.  If the property needs repair, it needs repair.  We are ethically upheld to advise clients to the limitations of staging; just check out www.StagedHomes.com and see the checklists given to sellers discussing repairs. 

In conclusion, I would imagine there are plenty of other agents like myself whose biggest challenge does not lie in Buyers making offers with rose colored glasses on, but getting them past the small, insignificant items that they manage to turn into mountains out of fear.  Which by the way, is a much larger emotion behind buying decisions (or the lack of) than bliss.  I think these agents should be supportive of staging given their buyers will perceive value in the purchase than of a home that looks like a dump with a lofty price tag.

The Art of Staging: A Vintage Kitchen

Mar. 30, 2007
Categorized in: Staging

A kitchen does not need all the bells and whistles to have a positive effect.  It does however need to address function and create an overall good feeling.  Here is an example of a where you can focus on a kitchen's assets instead of the negatives and have appeal to buyers.

PROBLEM:

This kitchen is vintage in design and lacks up-to-date appliances and features. Clutter was apparent in flow as well as in the pantry/storage areas.

SOLUTION!

The first item on the agenda was to remove any restrictions to the room’s natural flow. The microwave was relocated to a baker’s rack next to the fridge instead of the stove which opened up the door way instantly. The pantry and countertops were scaled down and all items that were not regularly used were to be packed up and removed for a more organized, spacious appearance.

 Lastly, fresh fruit added just the right touch of color to accent the beautiful detail in the tiles along with simple art work that also played into the color theme and vintage appeal.

People Will Not See Past Your Dirty Underwear

Mar. 28, 2007
Categorized in: Selling Real Estate

It never ceases to amaze me when I have to say this, but look sellers, buyers will not see past your dirty, smelly laundry.  That means, pick up!!!

I took a client out on Sunday and low and behold, came across my first nasty property for the day.  The bachelor pad, the "I give my clothes the sniff test before I deem them unwearable" pad, the "just had the guys over for a poker night" pad. 

There we stood in the door way.  Mouths gapping in horror.  This was something that movies were made of.  Right in the middle of the living room was what appeared to be a complete change of clothes, used mind you.  Apparently, the owner was in such a rush out the door, he was unable to pick up his clothes and put them in the dirty laundry.  Of course, when we discovered the dirty laundry, or should I say, it annouced itself by the smell, we couldn't imagine that as a better option. 

In the middle of the room was a discarded pizza box, no doubt last night's dinner (I hope!).  Dirty dishes, dried food stains on the counter and a giant shark head in the closet to boot.  From this point I could not even tell you much about the property. 

I have to say, I feel sorry for this agent.  Or should I?  If a seller plans (or doesn't plan) on at the very least, keeping the place picked up and devoid of nasty odors do us all a favor and not take the listing, unless of course you plan on warning us in advance in the remark section of the MLS with something like this..."Warning, this property is a violation to every sense you have".

Sellers, if the only audience you wish to appeal to is your frat buddies (note, I do realize women can be just as messy!) don't waste a buyer's time.  They are not going to see past your filth and admire the home for its potential, unless of course its the very last property on earth.

The Art of Staging a Dining Room

Mar. 23, 2007
Categorized in: Staging
Tagged with: preperation, selling, staging

 We continue this series with an example of a formal dining room in a vintage home.

This dining room looked scarce and offered little interest to the eye.

 

Here you can see huge transformation by adding a few small details that add color, texture and invite guests to sit down and enjoy an evening of togetherness. The corner chest was moved to center the opposite wall and adorned with a piece of art for color. A large plant in the corner added texture to the room and the opposite corner displays a large serving plate and a station for drinks. The table was set minimally with chargers and napkins in a matching hue to the red drape across the windows. The finishing touches included a centerpiece for the table and simplification of the owner’s china collection

Don't Overlook Preparation

Mar. 20, 2007
Categorized in: Selling Real Estate
Tagged with: preparation, selling, staging
5 Ways to Speed Up Your Sale
 
1.      Price it right. Set a price at the lower end of your property’s realistic price range.
 
2.      Get your house market-ready for at least two weeks before you begin showing it.
 
3.      Be flexible about showings. It’s often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you’ll find a seller.
 
4.      Be ready for the offers. Decide in advance what price and terms you’ll find acceptable.
 
5.      Don’t refuse to drop the price. If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price.
 
Reprinted from Realtor Magazine Online by permission of the National Association of Realtors. Copyright 2005. All rights reserved.
 
 

What Is Staging?

Mar. 8, 2007
Categorized in: Staging

 When you get ready to place your home on the market for sale it becomes a product. Similar to a product on the shelf at your local store, the product has features and benefits as well as pluses and minuses, and competition. To compete with the competition in the marketplace you must be priced right and look better than the other products. Your home is no different, it is one of many homes for sale and you must present it, to the buyers, in the best possible light.

Staging is the process of preparing any home for sale, regardless of price or location. Source:  Barb Schwartz, founder of StagedHomes.com

The Three P's of A Sale

Jan. 12, 2007
Categorized in: Selling Real Estate
You will see a lot of gimmicks in today's market where sellers and agents alike are desperate for buyers' attention.   I prefer to stick to simple, yet effective methods.  Ones that I think, transcend any market condition and will create opportunity.

First Rule:  Presentation.  This is a must.  Now when I say presentation, I am referring to staging, not decorating.  Staging is the process of depersonalizing a home, decorating is personalizing.  Future buyers do not wish to purchase your style.  Not to mention, style is subjective.  What you may think is beautiful and charming someone else can think is trashy and obnoxious.  Your ultimate goal is to sell your space.  By carefully planning a home's presentation can easily determine how buyers receive it. 

Need proof?  Okay.  Let's take food for example.  I am throwing a dinner party for people whom I don't have a personal relationship with.  I decide that I am going to serve fish.  However, instead of placing it on a lovely platter with an arrangement of vegetables, lemons and a sterling silver serving fork, I place it on a paper plate, whole (head, eyes and all) and require my guests to use their hands to serve themselves.  Now there plenty of fish lovers who don't mind digging in since they know the delicacies that lie under-neath.  But there are many of those who cannot get past how something looks to know how truly wonderful it is.   Think this is extreme?  Well, I can tell you from experience that most sellers have little awareness of how their home is perceived.  Pet smells, dirty dishes in the sink, garbage that is noticeable, dirty clothes on the floor, piles and piles of stuff in every corner and closet that spell one thing to a buyer:  dirty.   Bottom line is, you would not sell your used car without detailing it first, why would you sell your home any other way?  Are you willing to chance that you will find that selected buyer who can look past your home's distracting appearance?

Second Rule:  Preparation.  This is actually a spin off from the first rule.  Preparation applies in a few areas here.  First, is with presentation.  You negate staging your home if the condition of it is less than reasonable.  You will save yourself a lot of headache and a lot of money if you fix those items before listing your home.  Loose tiles, replace caulking in the bathroom, leaky faucet, broken window, etc.  In regards to larger projects, such as a older roof or mechanics, discretion here is the operative course of action.  If you are unable or unwilling to address problems such as these, then be up-front.  Either offer a home warranty or credit as a means to avoid dragged out negotiations after an inspection. 

The other application to the preparation rule is having all necessary documents and receipts handy.  If you own a condo or belong to a homeowners association, have a copy of your minutes, declarations and by-laws, budget and board contact information handy.  If its a room or area that goes with your property, make sure its accessible.  If you have up-graded or repaired/replaced something of significance in your home within the last 5 years, showing receipts can dispel any concern a new buyer might have.


Last Rule:  Price.  This is perhaps the largest pill to swallow.  You will eventually cost yourself more money to list a property high and reduce it's price than to price it correctly in the first place.  A home's price should reflect current market conditions, not what it is you need to net, not what your bank says it's worth, not the many wonderful memories you've collected over the years, not by all the improvements you have done, not even what your neighbors received for their home.  The successful pricing of your home may take these factors into consideration, but is not determined by them.  What a buyer is willing to pay will ultimately decide the value of your home, and what a buyer is willing to pay is determined by perceived value.

The bottom line to it all, you will get out what you put in.  By investing in the process of preparing your home for sale, you ultimately increase your chances of a successful outcome for both you and the buyer.