What happens when your home is listed

For Sale sign

You’ve finally taken the big step and signed the listing agreement with your agent. This registers your home in the local Multiple Listing Service (MLS) so that the agents in your area will know that your house is for sale.

So, what happens next?

Signs and lockboxes

Once your house hits the market, your agent will put up a “For Sale” sign on your front yard. This sign will grab the attention of interested passersby. In addition, you ask your agent about installing a lockbox on the front door. The lockbox offers more opportunities for agents to show your home to buyers while you’re away.

You might feel uncomfortable having complete strangers in your home, but a lockbox maximizes the number of prospective buyers who can view the house. Agents are less likely to take potential buyers to view houses that are difficult to access. Buyers will also feel more at ease when you aren’t present as they can freely look inside rooms, open closets, and comment on the house. Rest assured, all buyers will be accompanied by licensed agents and you can also regularly change the combination for safety.

Open houses and maintenance

When your home is still fresh on the market, your agent will want to hold an open house as interest will be at an all-time high. Typically, broker open houses are held on weekdays for agents to show their buyer-clients around. Weekends are customarily used for public open houses. Be ready to vacate your home at a moment’s notice during these open houses and during individual showings that buyers can schedule through your agent.

Keep your house spic and span. Potential buyers will be picturing themselves living in your home, so make sure everything is tidy and in order while the showings are going on.

Traffic, offers, and negotiations

Interest in a listing tends to taper out after two weeks. This is normal. The average time that a Chicagoland listing stays on the market is 64 days. Few people realize the amount of time it takes to sell a house once it’s been listed. But don’t be discouraged and keep an eye out for buyers who return twice or thrice. Usually, they are already strongly considering buying your home. You can contact your agent to begin negotiations with their agent.

However, if there have been no serious offers after six weeks, it might be time to talk to your agent about changing your marketing strategy. Discuss the problems with the listing and start making changes.

The real estate market changes quickly. Consider adjusting your price to fit the current market trends.

You may also want to refocus your advertising. Explore different marketing channels and platforms or target a wider audience. Further improving the appearance of your house might also make your home more enticing to buyers.

When selling a house, awareness and knowledge of the processes and the current state of the market are your ultimate tools to ensuring you get a good offer.

Do you have any more questions about selling your home and the Chicago real estate market? Contact us – Dave Ricordati at 630-854-7676 and Kathy Ricordati at 630-915-8881. You can also reach us here. Together, we can make sure you get the best possible offer for your home.