When selling your home there are no guarantees that a buyer will simply walk through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer.

The appearance of your home, a buyer's first impressions, and other considerations can also affect the sale of your home. Be sure to explore tips for increasing your home's value. Have you considered that home prices in your neighborhood and the value of your property are also factors used for pricing your home?

Exposure

The key to selling your home quickly and at fair market price is Exposure!

The person who purchases your home may come from any number of sources. Sudler Sotheby's International Realty will present your home to each potential buyer through various multi-media resources.

90% of Buyers Come from the Brokerage Community

• Open Houses
• Advertising
• Direct Marketing
• Multiple Listing Service
• Referral by Relocation Service
• "For Sale" Sign
• Internet Inquiries through: www.petersellschicago.com

Pricing My Property

Pricing impacts your profit... and proper pricing can significantly reduce the time your property is on the market. One of the most important services offered by an experienced real estate agent is guidance in pricing. We can be objective, and have access to current market data and the selling prices of comparable properties.

Take a moment to look at some of the things that go into pricing...and why it's so important to get it right...right from the start.

Determining Value: Our experienced associates have valuable information at hand. With their expertise in analyzing data, they are able to present market information in its most useful form and counsel you on pricing while factoring in market conditions, economic climate and the value of property improvements.

Location
Many factors can affect the desirability of a property. Neighborhoods that are close to shopping, schools, transportation and other conveniences typically will sell for more, as will attractive views of the Chicago skyline and of the lake.

Condition
The condition of your home can significantly increase the value and decrease the selling time. Make sure your property is in the best possible condition at each showing.

Comparable Market Data
Homes must be priced within an appropriate range based on the current market value. You are actually "selling" your property twice... once to the buyer and once to the appraiser.

Pricing & Timing

The more interest generated; the better chance of selling your home.

The strongest potential buyer activity on a listing occurs in the early stages of marketing. This is the group with “pent-up demand” that has already begun to explore the market and are awaiting new properties to become available. Additional activity will come from buyers who are new to the market.

Even when a home is priced right, other conditions such as time of year, the economy, the current mortgage interest rates and competition can all affect the time it takes to sell your property.

Proper Pricing

Proper Pricing = Reduced Market Time

• Less Inconvenience to You
  By reducing market time, proper pricing can reduce the time and energy needed to prepare your home for showings, including keeping it in "show condition", making child care and pet arrangements and altering your life to accommodate showings.
• Exposure to More and Better Prospects
  At market value, you open your home up to more people who can afford to pay the price.
• Increased Agent Response
  At a reasonable price more agents will get excited about the real prospect of selling your home and will make more efforts to show it to potential buyers.
• More Bottom Line Marketing Results
  More ad and sign calls to real estate agents turn into showings when price is not an obstacle.
• Higher Offers
  When your home is priced right buyers are less likely to make low offers out of fear of losing a good value.
• Faster Sale
  When your home sells faster you save mortgage payments and other ownership costs.
• More Money to You
  If your home is priced right, the excitement of the market produces a higher sales price. You net more in terms of both actual price and reduced carrying costs.

The Costs Associated with Selling

As the seller, you are responsible for certain costs that will affect your net proceeds. Here are some estimated costs associated with closing.

• Broker's Commission
• Insurance
  Insurance against loss resulting from defects of title to a specifically described parcel of real property. The cost is approximately $550 for up to $100,000 of purchase price and an additional $60 for each additional $60,000 in price. Quotes should be obtained for properties over $550,000.
• State and County Transfer Stamps
  $1.50 per $1,000 of the purchase price.
• Attorney's Fees
  Averages $400-$700 (or hourly rate)
• Escrow Charges
  If escrow is established.
• Document Recording Release Fees
  A minimal charge based on the number of pages. Average cost for residential property is approximately $75.
• Survey
  Not required for condominiums or cooperatives. Averages $75-$400.
• Certificate of Zoning Compliance
  Verifies how many dwelling units are allowed in the structure. Required for buildings up to 5-flats (excluding condominiums). The cost is $50.00, payable to the City of Chicago.
• Paid Water Bill Certificate
  Cost is $10.
• Tax Credit
  Prorated to the buyer for current year's real estate taxes not due until the following year.

Checklist for Selling a Home

The following are items you will need prior to the sale of your home:

• Your latest real estate tax bill.
• The most recent survey of your property.
• Your Title Policy.
• Complete mortgage information including: Lender, Lenders' Address and Account number, Account Balance, Type of Mortgage, i.e . Fixed Rate, ARM, GPM, VA, FHA, Assumable, Contract Sale
• If your property is held in trust, supply all pertinent trust information.
• Your attorney's name, telephone number and address.
• Keys to front door, garage and any other keys required to show your home effectively.
• If property is a condominium, a copy of your condominium documents, financial statements and a copy of your monthly assessment bill.

Tips for Showing Property

Make a Great Impression

Interior

• Start with a full housecleaning from top to bottom. Discard unused and unnecessary items in storage areas and closets. Eliminating clutter will give your home a more spacious look.
• Arrange furniture to make each room appear more spacious and attractive. If a piece of furniture is badly worn, store it temporarily in the attic or at your neighbors.
• Walls should be clean and free of smudges, fingerprints and dents. Consider a fresh cost of paint if a good washing doesn't do the trick. Inspect woodwork and wallpaper.
• Shampoo rugs and carpets. Floors should be waxed.
• Wash windows and sills until clean. Curtains and drapes should be freshly laundered.
• Bedrooms should appear neat with attractive spreads and curtains.
• Bathrooms should be sparkling clean. Repair caulking in tubs and showers.
• Clean and organize the basement, attic and garage.
• Repair loose doorknobs, sticking doors and windows, and warped drawers.
• Fix leaky faucets and eliminate water discoloration in sinks.
• Tighten loose stairs banisters and be sure steps are free of objects.
• Light fixtures should be in good repair. Replace discolored or cracked switchplates.
• Clean out closets to display their roominess. Be sure clothes are neatly hung and shoes and other objects are tidily arranged.
• Take out garbage on a daily basis.
• Be responsible for your pets. Clean up any hair or litter and remove the pet during showings, if possible.

Exterior

• Since the exterior of your home will be the first thing a prospective buyer experiences, it is very important in creating a good first impression.
• Landscaping and planted flowers frame the house and create a warm and inviting charm.
• Keep the lawn trimmed and edged. Weed and cultivate flower gardens. Trim shrubs and eliminate dead trees or branches. Pick up any debris, toys and lawn equipment.
• Repair any fences or gates. Give them a fresh coat of paint, if necessary.
• Paint and repair the exterior, roof, gutters and downspouts.
• Wash down driveways and sidewalks. Check them for cracking and crumbling.
• Replace any cracked windows and torn screens.
• The entrance should be clean and in good repair. The doorbell and front light must be in good working condition.

When you work with a Peter Fotopoulos , you can count on a specialist who can answer your questions, apply in-depth knowledge of current market conditions, and access extensive resources that can expedite the sale of your home.