Advice From a Leading Chicago Real Estate Agent
(Guest post by Real Estate Agent Pam Lynch)
In the current Chicago real estate market, your biggest problem selling a property might be that it is simply not new. Since many properties are being sold at discounted prices to move them more quickly, buyers are looking to get the best deal they can find, and many times the best deal is going to be a brand new, never lived in place. How do you compete with new construction if you are selling an older unit or home?
Investing some time in the overall style and appearance of your property before you put it on the market is your best bet when competing with newer properties. Even though your client might want to list and start showing right away, the potential buyers you'll alienate by showing a "lived-in" property makes taking some time to spruce up the property absolutely worth it. Here are some things to look out for:
Oak Trim: Oak trim was all the rage about 10 years ago. Nowadays, walking into a condo or town home and seeing oak trim immediately tells your potential buyer that the property hasn't been updated recently. Paint it or replace before you start showing the properties. It will be worth the investment to prevent buyers from immediately feeling that your property is dated.
Dated Granite: Although granite is a premium material, some of the styles of granite installed in the '90s really show age. If you are faced with dated countertops and backsplashes, switch them out for an updated style, like one in crushed quartz or an eco-friendly material.
Marble: Marble stonework carries the same dated feel that oak trim and granite can. When your updating a unit, try contemporary stone, glass tile or porcelain tile to update old marble fixtures.
A few other things to remember are 1) to select light, neutral colors, 2) avoid patterns, 3) avoid dark or cherry woods which may go in and out of favor, and 4) whenever possible, use the highest quality materials you can select. While decorating trends may come and go, high quality materials will always add equity to your home. Real estate equity and great design can go hand in hand, if you design your home with this in mind you should be in good shape for years to come.
Chicago Real Estate agent Pam Lynch works for Jameson Real Estate. She has worked in a variety of different industries and in a myriad of states, with career highlights that include being the director of sales for Morton's Chicago Steakhouses as well as the Director of Catering for the Four Seasons Hotels in Philadelphia and Newport Beach. She is especially passionate about home design and when she is not working on her own house, she might be helping friends rearrange furniture, selecting paint shades and discovering artful objects to create balance and harmony.
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