Into the Weekend 12.10.21

These days I’ve been thinking that buying and selling real estate is like playing a game of “Survivor,” where the players are constantly assessing their power: how much of it they have; how to attain more of it; how to wield it; how to defend against the power of others; and how to strategize to attain the best possible outcome, given the playing field. 

As your trusted real estate advisor, my job really boils down to helping you understand your power in a dynamic market. Not an easy thing in Chicago, where buyers and sellers have shifting power-grabs and where the playing field varies significantly among the City’s various sub-markets.

Like in “Survivor,” Chicago’s players must continually assess their power. Sellers have more power when inventory is low, the home is reasonably priced, and the market is responding positively to the home’s positioning; conversely, sellers have less power if buyers have choices, and the home does not stand out in the marketplace. With each listing, I help my sellers analyze the market and assess their power - something we may have to reevaluate until we get an offer. With an understanding of our relative power, we can then effectively negotiate that offer.

Buyers must also assess their own power based on inventory, pricing, and personal preferences. You’ll have more power if a home is priced high, languished on the market, and you could take or leave it; you’ll have less power if the home is reasonably priced, new to the market, with a line of potential competitors vying for a place you absolutely must have.

Although I will never compete or win on “Survivor” (I refuse to beg for rice and a live chicken), you can count on me to make sure you understand how much power you have and to effectuate a strategy to achieve your goals.

Have a great weekend!