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Why Should I Stage My Home Before Selling?
Why Should I Stage My Home Before Selling?
Discover how staging benefits home sellers in today’s market. Over the last few weeks, I’ve met with numerous sellers who were unsuccessful on the market during spring and summer. They had the wrong approach or agent and missed the mark. Now, they’re asking me the same questions: "Should I stage my home and how?" The simple answer is yes, and here are three reasons why: 1. The home is empty. Staging is a must if your home is vacant. An empty home can feel lifeless and unwelcoming to potential buyers. However, staging fills that void, creating a more inviting atmosphere that encourages buyers to imagine themselves living there. 2. You don’t have the right furniture. Staging is crucial if your existing furniture doesn’t match the age or style of your home. The right furniture enhances the overall appeal and ensures that each room looks its best, making it easier for buyers to appreciate the home’s features. "The secret to staging is understanding how to utilize furniture to enhance the use of space." 3. You don’t have enough furniture. Sometimes, a home doesn’t have enough furniture to demonstrate its potential effectively. Staging can help balance the space and provide a visual guide for buyers on how to utilize each area. The secret to staging is understanding how to utilize the furniture to enhance the use of space. Good stagers know how to add depth and scale to room sizes, ensuring that the flow throughout the home is seamless. For instance, if a room feels small, the right furniture arrangement can create an illusion of spaciousness. On the other hand, if a room is too large, strategically chosen pieces can help make it feel cozier and more inviting. If you’re considering selling your home, reach out to us for a 15-minute consultation, and we’ll share a comprehensive plan from prep to staging to entering the marketplace. Just call (312) 437-7799 or email sohail@sohailrealestate.com to get started.
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Should I Pre-Inspect My House Before Selling?
Should I Pre-Inspect My House Before Selling?
How pre-inspections can improve your home’s condition, give you leverage in negotiations, and help you sell your house faster. Do you need to sell your home fast? In this market, that’s no easy task. Due to higher interest rates, home prices, and lower demand, you can’t just throw your home on the MLS and expect it to sell in a couple of days. That being said, you can still sell quickly in this market; you just need to put in a little work. That’s why I always recommend my sellers do a pre-listing inspection if they want to spend as little time on market as possible. Here are three key benefits of pre-inspecting your home: You can hit the market with a clean product. The bottom line is that homes in better condition sell faster and for more money. Think about your pre-inspection like certifying a used car. Certified cars are a more desirable product, so people will be willing to pay more money faster. On the other hand, buyers will try to draw things out and get every opportunity in negotiations if your house is an unknown quantity. “If you take care of issues upfront, buyers won’t ask for concessions at closing.” You can fix major issues before hitting the market. As an agent, I’ve seen this situation play out too many times: My client finds the perfect buyer who is willing to give them everything they want and more. However, this buyer finds some major problem during the inspection process, and the deal is off. A pre-inspection will help you find any “dealbreakers” you need to take care of ahead of time, which will protect your sale. Pre-inspections give you leverage at negotiations. When you have a better product, you can ask for more concessions. Whether you want a quick sale, more money, or better terms, you need leverage to get what you want. One of the worst things that can happen during negotiations is for your buyer to use repairs as a negotiating point. By addressing issues upfront and creating more demand for your home, you can go into negotiations with a stronger position and get what you really want. Hopefully, you understand why pre-inspections are so important. If you want to sit down for a pre-listing consultation, just call or email me. It’s 100% free, and there’s no obligation to hire with me if things don’t work out or you change your mind about selling. I look forward to hearing from you!
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Are We Heading Towards a Buyer's Market?
Are We Heading Towards a Buyer's Market?
Even though our market is slowing down, I’m explaining why we probably aren’t heading for a true buyers market. Have you noticed a shift in our housing market lately? Homes are taking longer to sell, and prices are volatile nationwide. Depending on where you are, prices could start coming down for the first time in years. This has made many wonder, “Are we finally heading towards a buyer’s market?” My best answer is no; at least, not exactly. Instead, I’d say we’re more likely to head to a balanced market where both sellers and buyers have opportunities if they know what to look for. Here are three things you need to know about our market right now to make sure you get the best deal possible, whether you’re buying or selling: 1. Why is our market balancing out? Despite record-high home prices and shrinking demand, prices aren’t falling in most areas of the country. While these conditions might make it seem like we’re heading for a buyer’s market, the truth is that prices are being kept in check due to low supply. Inventory has increased nationwide, but this hasn’t been enough to offset the persistent lack of supply in most markets. If inventory continues to rise, the market could eventually favor buyers; however, low supply and low demand are offsetting each other. “We have good reason to believe the market will shift soon.” 2. Condition matters. In the current market, there is a huge gap between homes in good condition and those that need work. Due to affordability issues, buyers don’t have extra cash to make repairs after closing. If you don’t make the proper repairs before listing, you could suffer from a lack of demand that makes it feel like you’re in a buyer’s market. On the other hand, if you work with your agent to get your house ready for the market, multiple offers could come in quickly. You might even create a bidding war! Work with your agent and consider a pre-listing inspection, and you can still get an amazing deal on your house. 3. The market may speed up again soon. While lower activity might make you think we’re heading for a buyer's market, we have good reason to believe a shift is right around the corner. Due to worse job reports than expected, most experts believe the Federal Reserve will lower interest rates soon. This will make buying a home more affordable and spur new buyer demand. Tons of would-be buyers have been sitting out of the market waiting for rates to drop, so as soon as the news hits, we could see a fresh wave of demand. There will be tons of competition when the Fed finally drops rates. If you want to avoid potential rate drops or are interested in a free pre-listing consultation, please call or email me. I am always willing to help!
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How Buyer’s Agent Compensation Is Evolving in 2024
How Buyer’s Agent Compensation Is Evolving in 2024
Understanding the new agent commission structure after the NAR settlement. The recent National Association of Realtors settlement is reshaping the way real estate transactions are conducted. The most notable change is with the buyer's agent compensation which took effect on August 17. Buyers and sellers alike are quite confused on what changes have taken place, so today, I will break down everything you need to know: 1. Compensation will not be disclosed automatically in listings. Potential buyers and their agents will not see the commission percentage that the buyer's agent would typically receive—information that has been standard in the industry for years. For example, where once a listing might have indicated that a buyer's agent would receive a 2.5% commission, such details will now be absent. Sellers who want to maximize their property's exposure may continue to offer compensation to buyer's agents. After all, more incentives can lead to a quicker sale, often at a better price. "Leveraging the new compensation structure is key to maximizing your property's marketability." 2. Fixed compensation. Buyer's agents need to be more proactive and contact the listing agent directly to inquire about the compensation being offered, if any, and negotiate accordingly. This compensation must then be included as part of the buyer's offer. Once an offer is accepted, the compensation becomes a fixed element of the agreement and cannot be altered. 3. Commissions are not going away. The essence of buyer's agent compensation is not disappearing, but the way it is communicated and negotiated is undergoing a significant change. This new approach requires a bit more legwork for buyer's agents, but it also underscores the importance of transparent and effective communication between all parties involved. As the industry adapts to these changes, it's crucial for both agents and consumers to stay informed and understand how these new regulations will affect their real estate transactions. If you have any questions or are considering buying or selling this year, reach out to me anytime by calling 512-818-2976 or email sohail@sohailrealestate.com. I look forward to hearing from you!
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Take Control of Your Real Estate Business with Expert Coaching
Take Control of Your Real Estate Business with Expert Coaching
Transform your real estate career with our world-class coaching sessions. If you’re an agent looking to take control of your business, close more deals, and build a sustainable future, I have some exciting opportunities for you. At the Sohail Real Estate Group, we offer free world-class coaching and the chance to connect with experienced professionals who are already achieving the success you aspire to. By working closely with these mentors, you’ll learn how to generate your leads and develop the skills necessary for long-term success in the real estate industry. Additionally, we provide opportunities to create wealth and develop a viable exit strategy so you won’t have to work forever. If you’re ready to transform your real estate career, it’s pretty easy—all you need to do is click the link below and we’ll talk about how we can help you achieve your goals. I look forward to helping you! Our Real Estate Team is growing! If you or someone you know is looking to be a full-time realtor, hard-working, humble, wants to learn, and never finds problems-only solutions! Apply if you're interested in a Realtor career: 👉 https://jobs.wizehire.com/job/real-estate-listing-agent-in-chicago-il-us-b5481fa7d8b85481
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Chicago Summer Market Trends You Need To Know
Chicago Summer Market Trends You Need To Know
A complete summer market overview for Chicago home buyers and sellers. Are you curious about Chicago’s summer housing market? As we enter the middle of July, we typically start to experience a slowdown in new activity. Here’s why: a shift is occurring right now. Buyers focused on the school year are probably past the point of getting into the school system if they haven't found a house yet. While those already under contract might still be in play, those still searching are likely to give up by mid-July because the school year is about to start in the next 30 days or so. Here are three expert summer market insights to help you understand the current market and how it affects your real estate transactions: Decrease in inventory. Another significant factor in the summer market is the decrease in available homes. Many homes that were on the market unsold are now coming off. This results in even less inventory than we had 30 days ago. Additionally, there isn’t much new inventory coming onto the market to replace these homes. As a result, the overall availability of homes for sale is lower than it has been. "Understanding the current market conditions will help you make better homebuying or home-selling strategies." Opportunities for sellers. Despite the slowdown and reduced inventory, there are still strong opportunities for both buyers and sellers. If you’re looking to sell, the current market conditions can work in your favor. With less inventory available, your home will face less competition, making it easier to attract potential buyers. Opportunities for buyers. On the flip side, if you’re looking to buy, you might find less competition from other buyers. Many prospective buyers have stepped back from the market, possibly waiting until fall or even next year. This means you might have a better chance of securing a property without getting into bidding wars. For more tailored advice and the latest updates, feel free to contact me at https://calendly.com/sohailgroup/home-seller-consultation. Whether you’re buying or selling, I have years of experience that enables me to give you the best advice and guidance. I look forward to partnering with you!
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