In previous videos, I talked about first impressions and what cosmetic versus substantial improvements on homes can do to the marketplace. You can watch last month’s video here where I go into more detail about that.
My favorite phrase these days is “Prove them wrong.” I’m proving naysayers wrong all the time. The multi-million dollar marketplace is very challenging in Chicagoland, and I love proving them wrong.
I recently just listed a property in Geneva, Illinois. There hasn’t been a sale above $2.15 million in multiple years. As a matter of fact, there has only been one sale above $2.15 million in all of Kane County in the last two years. Happily, there were multiple offers on that property. This was not only due to it being a wonderful property, but the sellers were also open and receptive to our ideas.
I BELIEVE IN READYING A HOME SO ANYONE WHO WALKS THROUGH CAN VISUALIZE THEMSELVES THERE.
The home I am sitting in front of in my video above is listed around $6 million, and it took us almost five months to go to market. I’m a big believer in readying a home so that anyone who walks through it can visualize themselves in the home. We toned some of the features of the home down, like repainting kitchen cabinets that were painted a vivid color, replacing some of the furniture in the home theater, and carpeting over the lower level tile floors to a more neutral shade.
Be willing to do the exact opposite of your competition. Your competition wants to list the property as quickly as possible in order to get it seen during the prime season. We missed much of the prime season readying this home for market, but as you can see by the before and after photos, we transformed this home into a much more appealing space to the masses that most likely don’t share the owner’s personal taste.
Remember, it’s not the market, it’s the marketing. You only get one chance to make a first impression, so taking the time to ready the home for market is essential. Take the time to do the things that your competition doesn’t do.
If you have any questions on this topic or anything else related to real estate, please shoot me an email or give me a call. I’d love to hear from you.