As we begin to say good-bye to 2021, this year has shaped up to be another hot housing market in the Chicago Metro Area. Between the low inventory of homes, crazy competitive offers, and properties going for way over their asking price—many agents are rushing to the closing table skipping steps that could be costing you thousands of dollars.
According to Illinois REALTORS®, prices are expected to continue to increase through the rest of the year while the number of sales is expected to decrease. What’s important to point out in the latest marketing report is homes in Chicago, IL sold for 1.33% below asking price on average and sell after 64 days on the market in October 2021.
What does this mean for our local real estate agents? That teaming up with an experienced home stager, like Chicagoland Home Staging can provide a competitive advantage amongst the market hustle.
Here are three reasons why utilizing home staging will surely make your business stand out in this “HOT” housing market.
Prevent Lower Bids
The images above are from a recently rehabbed home in East Lincoln Park, that we staged earlier this year. The property sold for over $1.5 million dollars thanks in part to the stylish furnishings and design our team provided.
When selling a property it’s important to get the maximum return on investment. Prior to staging, the home lacked the personality needed to command its hefty price tag.
As an agent it’s important to show up to a listing presentation as the expert who knows the power of property presentation and can refer a team of vendors who can quickly prepare the home for sale and refrain from wasting the seller’s time and money.
Avoid Deals Falling Through
While homes are going under contract quickly, we are also seeing more of these deals fall through because of buyer remorse. Staged listings help buyers fall in love with the property creating an emotional connection for buyers and increasing the perceived value of the home. That’s why staged listings are more likely to make it through the inspection and appraisal process (even when waived). When buyers are not totally in love and committed to the home, they are more likely to back out if issues arise or more time is given to re-evaluate their purchase.
Contracts that fall through means more work you with time lost and in many cases has buyers wondering why is the home back on the market.
Over a quarter of buyers are more willing to overlook property faults if a home is staged, according to the National Association of Realtors® 2021 Profile of Home Staging. So, take the time to stage it first!
Build Up Your Brand Reputation
Check out the other transformation photos from this Hinsdale property. Which images would you want representing your real estate brand on the market…
- The dark, leathered, oversized furniture family room or the image featuring a spacious seating area to entertain guests by the fire?
- The outdated dark dining room or the freshly painted neutralized white one?
Wait, check out our enhancement service completed in the master bedroom our team conducted. The sellers had the core pieces in the space, but we brought in rental furnishings and accessories to complete the look. See the difference a rug, seating area, artwork and some toss pillows can make?
The property’s you list become an extension of your brand and your reputation. While most agents are fine with being average, we want to help you strive for excellence. When you add home staging into your listing process, you not only sell the property quickly and for more money– making you look like a hero to your current client, but you will attract more leads and build a trustworthy brand making it a no-brainer to work with you verse your competition.
Contact us today to learn more about adding our home staging process into your real estate team.