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As your Chicagoland real estate agent Michael LaFido, I want to be your resource for all things real estate. Whether you are buying, selling, or investing in real estate, I am here to guide you through the process. Subscribe to this blog to learn all of the latest news from our local market and receive expert tips for buying or selling a home.

Sellers: Don't Make This Common Mistake

Considering Selling in 2018: Click here for a Free Price Evaluation
Considering Buying in 2018: Get Gateway Access to the MLS

Right now, we’re in the prime selling season here in Chicago. But, if you have plans to put your home on the market, there is one mistake you must avoid.

Many sellers hire the agent who estimates the highest price for their home. If one agent tells them they should list for $550,000 and another tells them they should list for $500,000, most sellers will, unfortunately, choose the agent who gave that higher price. However, this is actually the No.1 listing mistake a seller could make in our market. The market, not your agent, dictates price.

Instead, sellers should hire an agent they like and trust. They should hire an agent with whom they have a good rapport and who has a proven marketing strategy.

On top of working with the right agent, it’s also important to be informed about our current market. One of the most important things to understand is how current supply impacts the traction you’ll have as a seller in our market.

A market with more than seven months of supply is a buyer’s market, a market with five or six months of supply is an even market, and a market with between one and four months of supply is a seller’s market. 

The market, not your agent, dictates price.

Another way to gauge the market is by examining the list-to-sale price ratio in your price range. This is important because while your area might be a seller’s market, your specific price range could still be favoring buyers.

In general, the spring market is a great time to sell. So if you have been thinking of listing, now is the time to do so. I recommend you start interviewing agents as soon as possible. Also, if your home is already on the market, the next 90 days are vital. You should ideally have your home under contract before July.

If you have any other questions, would like more information, or want help with your home sale, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The Top 23 Luxury Agents in Orlando Share Their “Aha” Moments

Considering Selling in 2018: Click here for a Free Price Evaluation
Considering Buying in 2018: Get Gateway Access to the MLS

Today, we’re sharing “aha!” moments from the last day and a half of the Luxury Listing Specialist Certification (LUXE).

We are here in Orlando with 23 of the top luxury agents in the area. If you know someone looking to buy or sell in Orlando, make sure that you private message me so I can put you in touch with the best agent.

Here are some of the top “aha!” moments:

  • Market research is the bad guy.
  • The match pair concept, when you have a pre-appraisal done so that sellers understand what their competition is.
  • Using the script “I am the most expensive agent and let me tell you why.” If you’re a great agent, you don’t compete by being the cheapest. You bring value to the table.
  • Google is our friend, so video, video, video. Video is not going away.
  • Event marketing.
  • Position or stage your listing so that buyers can mentally move in.
  • Only 10% of buyers can mentally move in and visualize the home. 90% only see the home as-is.
  • Showcase the lifestyle when marketing a listing. Let potential buyers know what kind of lifestyle they will enjoy if they live there.
  • Educate buyers and sellers by using short videos on YouTube. This is a great way of giving value to your clients.
  • Incorporate virtual staging vs. actual staging in circumstances where sellers might not have the investment dollars as a way to promote their lifestyle.
  • How to leverage your resources and network with a luxury club. If you hang out with nine top producers, you’re bound to be the 10th.
  • The difference between being a marketing agent and a listing agent.
  • How DISC personalities give you a better understanding of who your seller is and how they like things done.
  • Sending a gift after the listing appointment so you’re not out of mind.

Only 10% of buyers can visualize what it’s like to live in the home.

As you can see, we had a lot of “ahas!” in Orlando. If you have any questions for me, just give me a call or send me an email. I would be happy to help you!

Looking Back on 2017 and Forward to 2018

Considering Selling in 2018: Click here for a Free Price Evaluation
Considering Buying in 2018: Get Gateway Access to the MLS

2017 was an amazing year. Today, I want to share what we’re thankful for and discuss goal-setting for 2018.

2017 was a record-breaking year for us. We had two record sales. One property was in West Chicago in Ancient Oaks, and the other was in Geneva. We also closed on a $1.9 million co-op building in down and a cute little property in Wheaton for under $90,000.

We represent large and small homes. We are thankful for all of our clients, whether you bought, sold, or rented—thank you for an amazing year. 

Thank you to all who helped contribute to our new book for my consulting business called “Luxury Listing Specialist.” We also launched a new podcast to help real estate agents and give back to the industry.

We represented some amazing properties this year. In fact, Architectural Digest named one of our properties in Barrington Hills as the most beautiful homes for sale in all of Illinois.

Thank you for all of your referrals and reviews. We appreciate your feedback. 

From our staff to you and your family, thank you for a great year.

Now, let’s talk about 2018. You might have heard me talk about my “Prove Them Wrong" sign. As we head into 2018, many people make New Year’s resolutions and resolve to start the year with a clean slate. However, whether those goals are related to your business or personal life, most people don’t stick to them.

Prove them wrong. Create goals that are attainable and create accountability partners.

The magic happens when you step outside of your comfort zone, so think big and prove them wrong.

Again, thank you for everything you’ve done for us in 2017. If you have any questions, please don’t hesitate to reach out to us. We would be happy to help you.

Here’s to another great year in 2018!