Thinking about putting your Chicago house on the market? Before you do, learn more about the unexpected home costs sellers face in Chicago when trying to sell their homes. You might be surprised at what you will be required to spend in order to successfully sell your home.
Many people think that they will simply call up a real estate agent in Chicago, tell them a bit about their property, and poof… it will be listed and a buyer will be found. However, the process is rarely this easy. A lot goes into a successful MLS listing. There is a lot that happens behind the scenes and tasks that are completed by both the seller and the real estate agent. With many traditional home sales, the seller will often find themselves spending a lot of money upfront in addition to the costs and commissions that must be paid when the property closes. Below are just a few of the expenses that sellers often overlook when listing their homes on the MLS in Chicago.
No matter how clean your house is, there is always something that can be done. You will likely wind up spending money on cleaning products as well as giving up your time to make sure the house is spotless. Many sellers opt for a professional home cleaning, along with specialized treatments for the carpets and exterior power washing. But the job isn’t over after the cleaning crew has left. As the seller, you will need to maintain a spotless home for all the people who want to come to see it. Someone may call wanting to see the house in 30 minutes. In order to accommodate as many potential buyers as possible, you’ll need to be able to show the property at a moment’s notice.
If you take a look at a few listings, you will be able to see many approaches to photography and staging. Homes that are staged well perform much better and get much more attention than homes that are simply photographed as-is. Staging can be done by a professional of you can invest in a few decorative items to help make the home feel more inviting. Keep in mind that your taste may not be for everyone, so its best to keep things simple, classic, and neutral. This is where the eye of a designer can really come in handy. To save some of the expense, some home sellers will professionally stage only one or two rooms such as the living room and kitchen.
If you have a lot of stuff but nowhere to hide it away, you may want to consider renting out a storage unit for a few months. Not only will you be able to hide your stuff away, but it will give you a jump start on your upcoming move. Boxing up your unneeded items now will save you time when you move into your new house. Cleaning up your house, removing any personal belongings, and eliminating the clutter will make finding a buyer much easier for you.
With some real estate agents in Chicago, you will only get a listing and minimal marketing efforts. For things like premium listings and professional photography, you may find yourself shelling out even more. While being able to sell your house quickly in Chicago is often beneficial, having to pay for extra marketing in order to do it isn’t always expected.
Most agents tend to work for a flat commission, however, there are instances where agents will ask to be reimbursed. Open house expenses, minor fixes, and items used for staging are all things agents have been known to bill for. Before you sign a listing agreement with a real estate agent in Chicago, make sure you know what’s included. You don’t want to get to the closing table and find out you owe your agent more than you had planned for.
Many people fail to factor in the cost of their time when trying to sell a house in Chicago. From the cleaning to the repairs to preparing your house for property showings, putting your house on the Chicago MLS can require a lot of work! Be sure to factor in lost wages as well as time away from your family when you are thinking about all of the costs home sellers face in Chicago. Your time is valuable and if selling your house will require you to spend a lot of it, you may want to think about another option.
A direct sale of your house in Chicago will help you avoid all of the costs listed above. It will save you time and it will help you quickly resolve a difficult situation with a problem property.