Video and Chicago Real Estate

A match made in Heaven!

Nov. 19, 2017

Noble Square top floor Chicago condo SOLD

[SOLD]1428 W. Cortez top floor Noble Square condo

 

To say this deal was unique was an understatement. I was referred through a nationwide agent network to a Noble Square home seller.  Unfortunately, I was not the only city agent referred.  At least 7 agents in the facebook agent referral group responded to the referring agent's post.  So, my interview process started with the referring agent.  As in the case with all of my listings, I want to quickly establish value by stating EXACTLY what I can do for the Chicago home seller.  That good conversation lead to a property walk-through with the home seller. Keeping open communication and proactively setting proper expectations with quick follow up allowed me the privilege of winning this seller’s business.  Let’s go through from appointment to promotion how we sold his condo.   

 The listing appointment

 Brett S, the Chicago home seller, at that time had tenants. His place was a wonderful 3 bed 3 bath top floor condo with two outdoor spaces.  The place to put it mildly was in adverse conditions. Tenants thought they could assist in getting the place ready for market and share in the net proceeds.  Therefore, they had already started pulling out the door frames!  To say my seller client was upset is also putting it mildly.  The space was great but was in desperate need of some TLC.  I had noticed at least three realtor business cards on the table so I knew my work was cut out for me. On top of that, the building was 17 years old with no major maintenance/upkeep completed.  So, let’s get into the meat and potatoes on how I specifically showed my seller our strategy while concurrently keeping the seller’s costs to prepare the property in check. To view my systematic marketing plan click here

Price

 The condition of the property was basically unchanged since the seller purchased back in 2013. Current tenants did not do a good job of maintaining the floors or walls.  Therefore, there had to be realistic price expectations prior to even preparing the condo for market.  For 3 bed-3 bath top floor condos in an exciting neighborhood such as Noble square prices were anywhere from 500k-530K. Seller client did not want to put more than 15k into the unit and required a quick listing market time. My price recommendation was to actually price the property just below market to create a multiple offer and massive buyer demand environment. We agreed to price the property at $499k.  However, in order to even price at $499k the property needed to be properly prepared.  Preparing your condo involves some degree of repair, painting, and if possible staging.  

Preparation

There were several sections of the Noble Square condo that needed some love.  On the south side of the unit, there are six beautiful windows.  Some of the window frames needed repair.  We referred some great vendors to the client and they got to work.

 

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 By hiring a single contractor that handles multiple projects we were able to save our seller client $$$. The floors were in bad shape so the team began the process of re-finishing.

 

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 The single most important return on investment we advised our client was the paint the condo.  This was not a project to take lightly.  This condo had beautiful cathedral like ceilings not to mention significant size (nearly 2400 sq. ft).  The painting job wasn’t just a room or two it was the ENTIRE home from walls to ceiling!  Just as important as the quality of the work is the color scheme used in the work.  During the staging consultation our preferred stager recommended a soothing agreeable gray color with basic white ceilings.  The verdict? Well, you judge:

 

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Finally, it was apparent that to maximum the excellent preparation our client was doing staging would be critically needed.  In fact, the National Association of Realtors released a 2017 profile on staging survey.  In it 77% of buyers agents stated their buyers could better visualize/retain properties that were properly furnished.  So, what do you think of the final product?

 

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 For more photos please visit the property site: 1428 W. Cortez #5 property page

 Promotion

After pricing and preparing the condo promoting it to the largest pool of buyers really set us apart from other realtors.  Below was the exact blueprint we used to get our client Brett S 99% of list price! Keep in mind in order for these marketing efforts to achieve maximize impact they must take place at least one week prior to first open house.

Hi-resolution photography

Hiring a professional is critical.  See a couple of more photos of 1428 W. Cortez

 

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 Online exposure

 What’s the point of beautiful hi-resolution photography if its not exposed on not ten but hundreds of websites?  Zillow, Realtor dot com, Redfin, and homes dot com are just some of the websites that receive the property details online.  

 

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 Facebook advertising

Facebook, with over billion users, is not just a social network.  Done properly actual buyers can be reached using specific demographic, interests, and behavior profiling.  We created a JUST listed ad leveraging the beautiful HD quality property video:

 

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 Gorgeous HD quality video

Buyers are visual and typically can view 2D photography to make decision on viewing properties. However, having a more immersive experience can take a good property to great!  Please view our property video shot by our in-house videographer:

 

 The first weekend of Open Houses

All these marketing efforts would be moot without a professionally run open house.  In order to have maximum turnout we advised our client to allow at least one week prior to weekend open houses. The result: we had over 25 groups come through the open houses on a Saturday and Sunday! Multiple offers received within one week on market.  One happy seller receiving 99% of list price and more importantly could get on with his life!

 Questions?  Contact AD Anant Deoras at 312.884.9793 or ad@anantdeoraschicagore.com.

 

Posted in Just SOLD by AD
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