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Susan Ani

Sellers Must Strategize As Army Generals Do!

11-17-09
Susan Ani

It seems so simple... townhouse in Evanston

You have a home to sell, so you and your real estate agent decide to load the listing into the MLS and brace for the onslaught of buyers. Yeah, right!

My real estate market (Chicago) has definite, recurring, predictable cycles of activity. Perhaps this upcoming "black hole" of November through mid-January is shared by most markets around the country. But as I consulted with a seller yesterday about how to best present her property to the buying public, we found ourselves also factoring in the newly extended buyers tax credit.

Hers is a home in a very modest price range, and is very likely a target for a first time buyer. To bring it on market at this time might be foolhardy at best. The "traffic" generated at this time of year will be minimal, while at the same time the listing market time will rack up days.

So what will be the best time to bring this property to market? We strategized around the concept of offering the property at a starting point that would allow the buyers to find it, tour it, offer on it, and close before the tax credit deadline - but not too far ahead. I opined that bringing it to market in a semi-limited window of time would present an atmosphere of "gotta buy it now" to the buyers. Might this strategy encourage a contract negotiation a bit more positive for the seller? I am willing to strategize "yes" on this count. Let's see what happens!