Barrington Illinois Short Sales - Tips for Sellers - Advertising The Listing

Barrington Illinois Short Sales - Tips for Sellers - Advertising The Listing

In my first short sale blog this month we talked about Pricing Your Short Sale Listing in Barrington IL.

Now we are going to move on to advertising the home once listed and some things you should consider.

By their very nature short sales are to Realtors a more difficult property to sell and one that has a lower chance of success, even if priced well. One might consider that properties listing in the higher points may become even more difficult. Here are the reasons why.

• No purchase of a short sale is likely to be considered if it is contingent upon another sale. This just adds another level of delay to a sale.
• Low ball offers may be all that you will get.
• Buyers can get impatient with waiting for responses from banks and decide to pull out and move on to another property.
• Buyers may not want earnest money tied up for a long period of time. 3 to 4 months is not uncommon.
• Sellers may not have allowed sufficient time to get a buyer and have the deal approved. i.e. 2 months before foreclosure is not adequate time.
• Sellers may not be honest with their listing agent about all that is involved.
• Higher priced homes are more likely to appeal to less buyers, simply the buyer pool shrinks as the price goes up.
• Sometimes the lender just will not approve the short sale, even though the price is market value, all the paperwork is in order. This may seem crazy but it is still happening, and we have no answer as to why!

Consider these points from the perspective of a Realtor. If the Realtor is less likely to get paid, are they more likely or less likely to invest money in advertising your home. Obviously the most logical answer to this question is going to be less. If you decide to list your home as a short sale with me here is what I promise you.

• Your property will receive the same advertising it would as if it were not a short sale.
• Your property will be advertisied on a web site specific to Barrington, as well as many blogs, other web sites and portals, as well as classified sites like Craigslist.

So how and why do I do this.

• How - Simply because all my advertising venues are already set up and paid for on an annual basis. This saves me money and means I do not have to cherry pick which listings to spend advertising dollars on, in other words which ones are more or less deserving. My advertising consists of 100% online advertising. You'll know from the minute we start advertising your home that I am not going to treat it like a waste of effort. Yor home will be advertisied on the MLS, web sites, classifieds, blogs, portals as well as real estate sites, all of which are viewed by buyers everyday.
• Why - You hired a Realtor to advertise and find a buyer for your home and that is what I shall do. The MLS will attract buyers with their own Realtors and my online advertising will find buyers for me to bring to the home. It is not in my interest to just add the property to the MLS and hope, and it certainly is not in your best interest.

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The next short sale tip will cover dual ageny and short sale listings.

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Contact Corinne Guest ABR, e-PRO, GRI, Broker, Royal Advocate Realty Licensed Realtor® in Illinois, 847-363-3686 to list your property for sale or to buy a property in Barrington, Lake Barrington, North Barrington, South Barrington, Barrington Hills, Inverness and Deer Park, as well as Lake Zurich, Hawthorn Woods, Kildeer and Long Grove in Lake County Illinois.

Call me today at 847-363-3686.

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