Full time Realtor available 24/7/365 to address your needs. Licensed Realtor since 1997. Licensed appraiser in Illinois. Straight talk & honest answers. Always working for your best interests. Hundreds of closed transactions=great experience=piece of mind for you. Call me for the service you deserve. Satisfaction guaranteed Tom Lysik 224-800-4731
Questions and answers regarding real estate. Here are the most common questions I get when meeting with my clients:
1. Q – When is the best time to sell real estate?
A – Weather conditions do not affect selling real estate. The answer always is, whenever you are ready to put it on the market. In states like Illinois a lot more people tend to sell real estate during spring and summer time because it is easier to move at that time. However more sellers on the market also mean more competition for you which equal harder to sell. During off season (late fall and winter) generally there are less properties available, that mean less competition. There are always pros and cons; you have to decide when the best time is for you.
2. Q – What is the most important thing we have to do to make sure our house will sell?
A – To make your house sellable you have to be in line with your competition during the time your house is listed. Market is constantly changing; new homes are coming on the market and homes are getting off market almost every day. Some of the homes that are getting off market are homes that just sold; some listings expire or are canceled. Because the market is constantly changing, your agent has to watch it closely to make sure you’ll keep your house in a sellable position at all times until it gets sold. Where does my house stand among the competition today?
3. Q – How come our house did not sell?
A – There might be a dozen different reasons why your house did not sell (it could be a poor marketing, asking price, missing showings, location, general condition of the house, the way the house smells, leaking water through cracks in a basement, mold, listing agent not cooperating with other realtors, etc). If that happens you must sit down with an experienced agent and go over the whole process of selling you just went through, analyze step by step how this process was handled. Being honest with yourself and your agent is the only way you can find the reason why the house did not sell and eliminate that reason so the next time you go on the market your house will sell. If other homes were selling at the same time when yours didn’t there must be a reason why it happened. Find out that reason and fix it. Every house will sell no matter what condition and where located if the basic principles of selling real estate are followed.
4. Q – Is it worth spending money for staging our house?
A – In a competitive market everything counts. You want always your house to stand out from the crowd especially when competing with a large number of similar homes in your area. Assess the market conditions first and then make an appropriate decision. The more competitive the market is, the more you want to stand out from the crowd. Getting rid of the clutter and putting unnecessary furniture in storage might be sufficient enough in a less competitive market. This you can do on your own. To answer your question, if the market conditions require it hire a professional who can stage your house. It will definitely help you to sell your house.
5. Q – Should we get an appraisal from a professional appraiser first before we talk to realtors?
A – There are customers who do that and there is nothing wrong with it if you really want to know what is the value of your house “by the book.” The appraisal you will get from a professional appraiser will be done by the approved methods appraisers have to follow. Appraisers focus on recent closed sales to use data they can document. In other words they look in the past rather than in the future. They do not take under consideration current and near future trends that affect the market. In reality because the real estate market is constantly changing the market itself very rarely supports those appraisals. The market (supply and demand) dictates the prices and not the approved methods of appraising a house “by the book.” For that reason, a qualified real estate agent will generally outperform appraisers in predicting the near-future market price of your house.
6. Q – Should we purchase a home warranty when selling our house?
A – Home warranty always puts peace in buyers’ minds. If you have a newer home and it is in good condition you may consider skipping it, if you own an older house I would recommend to buy a home warranty. From the psychological point of view buyers will feel more secure when home warranty is included in the sale.
7. Q – Is the first offer the best offer?
A – There is a saying in this industry that the first offer is usually the best one. However this is only true, if everyone knows that your house is for sale meaning: are you cooperating with all the realtors through the MLS? Does the public know your house is for sale? To get the best offers make sure your house is listed on Multiple Listing Service exposed to the whole army of realtors. This is the best sales force you can possibly have considering you’ve done everything else on your part to make the house sellable.
8. Q – Do we really must have a lock box on our house we don’t feel comfortable with it?
A – Part of a successful marketing plan is to have an easy access to your home when showings are requested. It is very important that you should avoid being at home when a showing agent brings in a potential buyer to view your house. Whenever there is a potential buyer who wants to see your property you will be notified by the listing office or listing agent to arrange the showing. The agent who brings a buyer is the only one who will know the code to open the lock box and he/she will be registered (every agent has assigned number in MLS) by the listing office before an appointment is confirmed. The showing agent is responsible for his/hers clients and responsible for locking the doors after the showing. Only the person who knows the lockbox code can open it. To increase the chances of selling your house you don’t want to miss any showings by giving an easy access to your house when you are not home.
9. Q – Should we hire home inspector to inspect our house before we put it on the market?
A – Majority of buyers routinely will hire home inspector to inspect your house after the sale contract is signed. Buyers want to make sure they are investing their money into a right home. Some sellers, to avoid any surprises that may cause the deal to fall apart, hire a home inspector before they put the house on the market to check if there are any issues with it. This way any major issues found by a home inspector can be corrected before the house is put up for sale. It is a good idea to take care of the business before something goes wrong on the road.
10. Q – What is the “Short sale?”
A – Short sale is selling of real estate in which the proceeds from selling it will not be able to cover the balance of debts secured by liens against the property, and the property owner is unable to repay the liens’ full amounts and the lien holders will agree to release their lien on owner’s real estate.