A question most homeowners wonder is “What is the value of my home?” If you want to know now use my Home Value Estimator tool. You can use this tool to find your home’s current value and view profiles of potential buyers. Results include:

Home Value Estimate

An automated value estimate can give you a rough estimate of the value of your home. This can be a useful starting point, before you talk to a licensed real estate agent.

Buyer Breakdown

Using a proprietary algorithm, you can see how many people are looking for homes like yours. If you are thinking of selling your home, this is the best way to get a feel for the market.

Recent Nearby Sales

These facts can give you the edge in understanding what to expect when selling your home.

If you have a home to sell, you’re probably excited to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is I have done extensive research about what you need to know about selling your home – and I have answered the questions you’re probably wondering:  

How will you determine my home’s value?  

To determine your home’s value and set a listing price, I will complete a Comparative Market Analysis. The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)

Is it a good idea to start high?  

Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time.  

What percentage of the listing price can I expect to get?  

The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, which is when inventory is low, sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. My goal is to get you as close to a 100% list-to-sell ratio as the market will bear.  

How soon can I get my home on MLS?  

Once we agree to work together, I will begin entering your home information on the MLS system. I will also schedule a time for a professional photographer to take photos of the property. As soon as all the information and pictures are uploaded items, your listing can go live on MLS.  

What do I need to do to get ready to list?  

For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. You may also want to have the exterior pressure washed, and the landscaping cleaned up. I am a Certified Staging Consultant and this is a service I provide to my clients, check out my blog post on staging to see before and after photos. We can talk further about specific things that will help your home show better.  

How will showings be conducted?  

You and I will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, I will notify you in advance of showing requests. We typically use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, I receive a notification.  

How will you market my property?  

Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor, Zillow, or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, I share my listings with the agents in my network, on my website, and on my social media. We can discuss additional opportunities such as hosting open houses and marketing within your neighborhood.  

How long will it take to find a buyer?  

Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighborhood or a unique location,) and the condition of the home (is move-in ready or in need of renovations?) In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.  

Will you qualify the buyer?  

When an offer is received, I will work with the buyer’s agent to vet the buyer. All offers should be accompanied by either a pre-approval from a mortgage lender or, if paying cash, by verification of funds available to cover the purchase price. Once you accept an offer, the buyer must put down the agreed upon escrow deposit, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the loan approval process. I will stay in close contact with the buyer’s agent to make sure due process is followed.  

What are the costs involved?  

Typical costs to sell a house in Illinois include: Title insurance policy for the buyer; state/county/city taxes; prorated property taxes; commissions; survey preparation (if needed); attorney fees, and HOA payoff (if applicable). I will be sure to go over these costs in detail with you so that you know what to expect at closing.

How does commission work?  

Keep in mind that the commission is split between the two sides, and both agents must abide by the structure their brokerage follows. I will work very hard to represent you honestly with full loyalty and integrity to earn the designated commission. This work is my livelihood, and I often go above and beyond the call of duty to earn my pay and close transactions for my clients.  

Will you also represent the buyer?  

A broker who represents both the buyer and seller sides of a transaction is called Dual Agency. In Illinois, Dual Agency is legal, but other states do not allow it. Dual agency must be agreed or declined in writing by all parties involved. If I happen to find a buyer for your home and we have agreed to dual agency, be assured that I am trained and experienced in handling both side of the transaction fairly. Confidentiality is important in representing both sides; however, some sellers do not feel comfortable with the situation. It is ok if you decide to decline dual agency as a seller.

Can I cancel if I find my own buyer?  

There are several types of listing agreements, but the one I most commonly use is the ‘exclusive right to sell’ listing agreement . The agreement is between you and my brokerage so that we are the only party designated to sell your home as long as the contract is valid. A prospective buyer that approaches you directly should be redirected to me.

There are other types of listing agreements that we can use and/or specific exceptions can added if you have specific prospective buyers for your home.

How often will we communicate?  

Communication is key to an easy and successful sale. I will keep you appraised of events every step of the way. You are welcome to reach out to me with questions or concerns. When we go over the listing information, we will discuss our preferred means of communication and schedules to make sure we know each other’s availability and boundaries.

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