How Chicago Home Sellers Can Get an Edge Over the Competition

The Chicagoland real estate market is as competitive as ever in 2023. With mortgage rates still high and more properties hitting the market, home sellers need to get creative if they want their listing to stand out. Let’s take a look at some strategies that can make your home more enticing to buyers. A few smart moves can help a seller clinch that coveted offer over other listings.

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First impressions matter enormously when selling a home. Invest time and effort into exterior curb appeal. Trim trees and bushes, plant fresh flowers, and paint or power wash siding. Declutter the yard and freshen up landscaping to increase visual interest. Initial memories stick, so you want potential buyers to be excited as soon as they drive up.

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On the inside of your home, thorough deep cleaning and decluttering is essential. Remove excess furniture and personal items so that the rooms appear spacious and inviting. Fix minor repairs like leaky faucets, cracked grout, or squeaky doors. Fresh paint in neutral tones makes the home feel bright and airy. Replace worn carpets if possible. The goal is for buyers to easily picture themselves living in the home.

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Staging is another way sellers can make their home more attractive. Removing clutter helps buyers focus on the space itself, and strategically placed furniture and decor creates a welcoming flow in each room. Working with a professional stager can take your home's style up a notch. Staged properties often sell faster and for more money.

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One of the top factors that buyers evaluate is the condition of the kitchen and bathrooms. These are the most expensive rooms to renovate, so it’s a relief to a potential buyer if these areas are already upgraded. At the very least, it’s a good idea to take care of some smaller home improvements that don't break the bank! Minor upgrades like new outlet covers, cabinet paint, and modern light fixtures are affordable. Consider swapping dated kitchen and bathroom mirrors for framed decorative versions. Replace doorknobs and hinges with modern brushed nickel or oil-rubbed bronze. Modernizing kitchens and bathrooms deliver major returns on those investments. Even little updates make a noticeable difference!

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Curb appeal, cleanliness, staging, and kitchen and bath updates all help showcase the home. But equally important is proper pricing. Overpricing your home is one of the biggest mistakes that sellers often make. Staying on top of current trends in your neighborhood (and listening to your realtor’s advice!) will help prevent overpricing. When your home’s price tag is at or just slightly below market value, this can help create more interest and sometimes even leads to bidding wars that drive up the final sale price. The goal is to get buyers excited and convinced that they’ll get a deal, even if the home ultimately sells for higher than the list price.

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With the right prep work and pricing strategy, sellers can maximize their home's appeal compared to other listings. Putting in the effort makes the difference between your house sitting on the market for months or selling rapidly – and for top dollar. In Chicago's competitive housing market, you need every advantage possible to give your property the competitive edge it deserves!

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If you’d like to talk more about gaining an advantage in this market, please reach out to us. We’re always happy to help.