In many ways, selling a condo can be a little more challenging than selling a detached home. For starters, you don’t get the same foot traffic that you would with a traditional home. However, there are also many factors that make selling a condo easier, and one of those would be the fact that condos are highly popular in Chicago right now.
When it comes to selling your Chicago condo, here at six tips to get you prepared:
1 - Find Out if there are Specific Condo Association Rules
You probably have a good idea of any condo association rules that apply to making changes or improvements to the condo, but did you know that there may also be rules that apply to the selling of your property? Understanding these rules is a vital first step in selling your condo. For example, the condo association may not allow “For Sale” signs in the windows, they also may put a limit on open houses or visits with potential buyers. The condo association might also want to screen and approve potential buyers too. You should be aware of all these things before trying to sell.
2 - Opt for Smart Improvements
Spending thousands of dollars on renovations for your condo may not end up making you more money in the long run. Instead of simply renovating for the sake of renovating, consider details that might be important to a buyer. Should you install some granite countertops? Paint your outdated rooms with a fresh white coat? There are many small renovations that offer a great ROI.
3 - Make a List of the Condo Assets
All Chicago condos for sale have numerous assets that come with the property. Things like storage lockers, bike storage rooms, access to rooftop patios, 24-hour concierge services, in-unit washing machines, and more. Since these features change from unit to unit and from building to building, it’s a good idea to make a list of all the potential assets in order to come up with the best price for your condo. These are also the things that should be high selling points when it comes to your listing!
4 - Hire a Stager
Hiring a person who specializes in staging condos is a valuable decision that everyone should say yes to. Although you may feel that you have an eye for décor, a stager is able to identify potential buyers and stage the home based on how these specific types of people will react. With every showing, you should make it easy for the buyer to picture themselves in the home. This means removing personal items and family photos that may be distracting. It also could mean opting for a more trendy and modern décor, and that’s what a stager can help with.
5 - Collect All Your Documents
The condo association might be able to lend a helping hand with this one. In many cases, your condo association can provide documents or brochures that outline the features of the neighborhood and the benefits of the association. While these documents are not necessarily vital to selling your condo, they can help highlight the community and result in a faster sell.
6 - Work with a Professional Realtor
Finding a real estate agent you can trust can seem like a daunting task. There are so many options out there. How do you choose the agent that is right for you? You should start with realtor that specializes in condos. Do some research and find out who in your area specializes in selling condos. Contact that person and schedule a meeting. Your new real estate agent should make you feel excited and comfortable. They should make you feel confident and ready to sell your Chicago condo.
For help from an experienced Chicago condo realtor, contact Terri McAuley today at 312-330-3211.