Did You Know?
Franklin Park is a village in Cook County, Illinois. The population was 18,333 at the 2010 census.
According to the 2010 census, Franklin Park has a total area of 4.77 square miles (12.35 km2), all land.
Why Should You Choose IBA for Your Real Estate Education?
We offer 100% Online Real Estate Courses and our courses are approved by IDFPR to be delivered in Franklin Park - 100% Guaranteed. You can check IBA's approval status at IDFPR
IBA is a leading online school for aspiring Illinois real estate agents. Thousands of people in Chicago, Franklin Park and other cities choose to become real estate agents and brokers by taking real estate courses.
How does one become a real estate broker? To become a real estate broker in Illinois, you must first take pre-licensing courses before you sit for the exam.
Get your real estate license and Launch Your Real Estate Career in Franklin Park with IBA. Find Answers To Your Real Estate Courses FAQ about options to become licensed in Franklin Park.We also accelerated pre-license courses. These programs provides online access to the instructor with live weekly sessions and allows students to complete all 75 hours of courses completely online.
What Types of Seller or Buyer Queries Do Franklin Park Licensed Brokers and Realtors Handle?
Why isnâ€™t anyone looking at my home?
In a perfect world, home selling would be a linear, predictable process. You put your house on the market, you schedule a bunch of showings, and you get your offer. As anyone who has sold a house before knows though, it doesn't always work out like that, and plenty of people are left wondering why their house isn't selling'”and what they can do about it.
Homes in the United States spend about 58 days on the market, according to research from Realtor.com. (You can use their market trends forecasting tool to see the data for your specific county or metro area.) But 58 days is the average, not the rule. And that means that plenty of homeowners are finding themselves waiting longer than that to make a successful sale.
So, here's the bad news: You can't force anything if your house isn't selling. A home sale requires a number of circumstances to come togetherâ'”most importantly, the right buyer at the right time. The good news, however, is that you can try to pinpoint the reasons that your sale isn't making progress in the way that you want it to. Not all of those reasons are in your control, but many are. Sometimes, a couple tweaks can make all of the difference between a house not selling and that done deal.
If your house isn't selling and you're left wondering why here are five possible explanations.
It's Not the Right Market
There are two real estate market trends that play a major role in how fast a home sells:
The time of year that you're listing.
Whether it's a buyer's market or a seller's market.
In general, early spring is the time of year that homes fly off the market the fastest. From of end of March through early April, homes have 5% less competition and sell six days faster than homes that go up in late spring, when the market starts to flood. That flood tends to last through the summer, and then dwindle down to a near halt during cooler months, when fewer buyers are looking to move.
Another big factor to keep in mind is whether it's a buyer's market (lots of homes for sale but few buyers) or a seller's market (lots of buyers on the lookout but few homes for sale). In the latter scenario, you're more likely to sell your home quickly, since there's a lot of competition for properties. In a buyer's market, however, you're the one facing competition, and you may find that your house isn't selling nearly as fast you want it to, or even as fast as it might have if the scenario was flipped.
The best way to avoid a stagnant sale process due to bad timing is to be strategic with when you list. It's better to wait and get on the market when your chances for a faster sale are high than to go on the market too early and let your listing get stale.
Your Home is Priced Too High
The higher the price of your home, the smaller the pool of available buyers. Likewise, homes that are priced well above the comps in their neighborhoodsâ'”without any clearly distinguishable added valueâ'”are going to get passed over. Purchasing a home is a huge investment, and buyers want to make sure they're getting the best deal possible. A home that's overpriced is not a good deal, and it's not going to have much luck selling.
Sellers rely strongly on their realtors to guide the pricing for their houses, but realtors who suggest listing prices that are too high don't tend to have their client's best interests at heart (or might not really know what they're doing). How do you know if your home is priced too high? There are a few tell-tale signs:
1.Your home is listed higher than the comps.
2.Other homes in the neighborhood are selling but yours isn't.
3.You're not getting a lot of requests for showings.
4.Your listing pages aren't getting much traffic.
If you suspect your home is priced too high, get a second opinion from another realtor or twoâ'”it may be time for a price drop.
Your Listing is Insufficient or Outdated
Your home's listing is usually the very first place that buyers go when they're deciding whether or not they're interested in learning more about your property. But if your listing isn't doing your home justice, you're going to end up with a marketing plan that falls flat and a house that isn't selling.
An insufficient listing can mean a few different things. It might be that you didn't include enough information about the property, or that your listing is lacking in images. Or it could mean that the information and images are there, but they're not quite doing their jobâ'”think dark, blurry pictures, or wordy descriptions that leave out the stuff that really matters, like what's so great about the location or key features of the home. When a lot of care hasn't been invested into the listing, it suggests that a lot of care hasn't been invested into the home either. And that can be a big turn-off for buyers.
An outdated listing, on the other hand, says something different: that the home has been on the market for a long time. If it's early June and the listing for your home is full of pictures with snow in the yard, buyers are going to know that the house isn't selling, and they're going to wonder why. Try to avoid having your listing pictures taken with details that could date them, such as Christmas decorations. If you can't avoid it (such as if there's snow on the ground when you first list), have new pictures taken when the season changes.
Your Home Isn't Being Marketed in the Right Places
The methods that your real estate agent in Franklin Park uses to market your home matter a lot. Gone are the days of the glossy print listing being the gold standard for home marketingâ'”today's buyers want tech.
According to the National Association of Realtor's Real Estate in a Digital Age Report, 44% of buyers look to the internet first when they're home shopping, versus just 17% who start the search process by contacting a realtor. For sellers, the tech tools that provide the highest quality leads are (1) social media, (2) MLS, and (3) brokerage websites and listing aggregator sites. And considering that 76% of all buyers find their home using a mobile device, it's safe to say that relying on tech-based marketing isn't just preferred, it's required.
Old school realtors will remember a time when this wasn't the case. It certainly would have been hard to predict that social media would outrank MLS as the go-to digital hub for finding listings, or that buyers would be significantly more likely to start their searches on their own with the help of the internet instead of reaching out to a brokerage firm. As such, some realtors might be resistant to the changing tides, which could lead to outdated marketing practices that don't meet buyers where they're at.
As a seller, it's your job to advocate for your listing and to make sure that every possible avenue for marketing is being exploredâ'”particularly the ones that are most likely to draw in buyers. It's also a good idea to engage with the marketing process yourself. Start sharing your listing with your social network and social-based real estate community groups. The more eyes you can get on your listing, the better chance you'll have of speeding up the sale process.
Your Home Isn't Making a Good Impression
If you're getting showings but your house isn't selling, consider that it might be due to aesthetics. Not everyone wants to take on a project, so if your home is in poor condition and in obvious need of some repairs or a good cleaning, it's not going to be attractive to buyers, even if the bones are good. The same goes for if your home is decorated boldly, in a style that says "niche" more than widespread appeal. Again, it's not that these things can't be fixed, but that many buyers are looking for a turnkey home or at least one that isn't going to cost them a lot right at the outset in repairs and design.
To show off your home in its best light, aim for a neutral appearance. That means no clutter and no loud design choices, as well as cleaning and repairs where needed. If you're not sure how to go about tackling this task (it can be a big one), bring in a professional stager. Staging your home can be as simple as decluttering your space, or might require putting overflow furniture into storage or painting some walls. If you do it right though, you'll go a long way toward ensuring that your house makes the right impression with buyers and helps them more easily envision themselves living there.
If your house isn't selling, try to figure out why as soon as you can. The longer your home sits on the market, the less action you're going to get on it. But if you identify and take care of the issues that are preventing it from getting an offer, you could speed up the process and finally get your home sold.
How to sell houses quickly?
There are many things a new agent in Franklin Park can do, but here are the most important steps for any new agent.
1.When taking real estate classes, try to take classes in person so you can start networking asap.
2.Start networking and reaching out to your circle of influence even before you get your license.
3.Choose the broker with the best training and lead sources, not the highest commission split.
4.Be willing to spend money on training programs. These programs will teach you the best way to get leads, maintain a database, build income funnels, and much more.
5.Don't be afraid to talk to successful agents in your office or area and ask them for any advice and or tips.
6.Talk to as many people as you can and don't be afraid to look like an idiot at first. You have to learn at some point, and the sooner you learn, the better. The best way to learn how to talk to buyers and sellers is to do it. Many agents get stuck in their office researching lead sources or taking as many classes as they can instead of trying to meet people and sell houses.
What makes a deed invalid?
If a deed is to have any validity, it must be made voluntarily. The test of the capacity of an individual to execute a valid deed is based upon that person's ability to comprehend the consequences of his or her activity. If a deed is not made through the conscious act of the grantor, it can be set aside in court. Relevant factors for the determination of whether a particular individual is capable of executing a valid deed are his or her age, and mental and physical condition. Extreme physical weakness resulting from old age or disease is a proper element for consideration in establishing capacity. Mental capacity, however, is the most important factor. If an individual is deemed to be mentally capable of disposing of his or her own property, the deed is ordinarily valid and would withstand objections made to it.
If FRAUD is committed by either the grantor or grantee, a deed can be declared invalid. For example, a deed that is a forgery is completely ineffective.
The exercise of UNDUE INFLUENCE also ordinarily serves to invalidate a deed. The test of whether such influence has been exerted turns upon the issue of whether the grantor executed the deed voluntarily. Undue influence is wrongful and serves to confuse the judgment and to control the will of the grantor. Ordinary influence is insufficient to invalidate a deed. Deeds between parties who share a confidential relationship are frequently examined by the courts for undue influence. For example, the courts might place a deed under close scrutiny if the grantor's attorney or physician is named grantee. In addition, if the grantor is a drunkard or uses DRUGS AND NARCOTICS to excess, such would be circumstances for consideration when a court determines whether undue influence was exercised upon the grantor.
When is the best time to sell my home?
You may have heard the term "seller's market" before. In a seller's market, demand for homes rises, and sellers can get a lot more money for their house. The following factors may contribute to a seller's market:
The possibility of interest rates rising in the future
Other economic factors may contribute to the market. Some cities may experience a seller's market while others simultaneously experience a buyer's market. Reach out to a local real estate agent in Franklin Park for more information about the current state of the market.
Why are home inspections important?
A home inspection is an all-encompassing examination of the condition of a home. The home inspection process is often but not always performed at the time of the sale of the home. A home is one of the most important purchases one will ever make. A home inspection is an inexpensive way to discover the universal condition of a home. It is important to conduct a home inspection to avoid a costly mistake by purchasing a property in need of major repairs. Even if you think you have found a "dream home," it is a home inspector's responsibility to let you know that your "dream home" may not be just right.
A professional home inspector is a professional who will conduct an inspection of the general condition of the home. A good home inspection will assist a buyer in understanding exactly what they are about to acquire. A home may look move-in ready, but an inspector will cover features of the house such as electrical wiring, plumbing, roofing, insulation, as well as structural features of the home and may unveil issues that are not noticeable to the buyer's eye. As a buyer, you are making a vast investment, and it is important to understand exactly what you are purchasing. Having a professional home inspector conduct a thorough inspection of the prospective property could be compared to taking out an insurance policy against all potential operating costs.
There are many different types of home inspection processes that you may want to conduct before the purchase of a home. First and most importantly, you would need a general or residential inspection performed on the home. The professional home inspector would inspect the structure, exterior, roof, electrical, plumbing, HVAC, interior, insulation, and ventilation. Once the inspection is completed, the home inspector will generally provide the buyer with a report suggesting any improvements or repairs deemed necessary to bring the home up to current standards. Home inspections may often reveal problems with a home that could be pricey to fix. This could be used as a great tool in purchasing negotiations with the seller. As the buyer, you may be able to negotiate the price depending on what the inspector has found. If flaws were found within the home, the buyer now would have a couple more options in negotiations. A buyer could negotiate a credit with the sellers, have the seller pay for repairs before the closing, purchase the home as-is, or walk away from the purchase if the issues seem too problematic.
Another home inspection process a buyer may want to have before the purchase of a home would be a termite/wood destroying organism inspection. This professional inspector would check for signs of structural damage caused by wood-boring insects. These insects may cause problems down the road. A general home inspector may perform this inspection for an additional cost, or recommend a WDO/WDI inspector to the buyer.
A radon inspection is also important when purchasing a home. Radon is a radioactive gaseous element formed by the breakdown of radium, that occurs naturally especially in areas over granite, and is considered hazardous to health. Radon gas from natural sources can accumulate in homes, especially in confined areas such as attics and basements. Radon levels fluctuate naturally, therefore testing for high levels is important. A radon test consists of using a radon kit that would be hung or placed in the lowest habitable floor of the house for two to seven days. After the kit sits for the required amount of time, the inspector sends the kit to a lab for analysis. If a radon test comes back high, some ways to alleviate the radon could be: sealing concrete slab floors, basement foundations, and water drainage systems. This could be a costly fix, suggesting the importance of radon inspections. Some general home inspectors will also do radon testing at an additional cost. It is important you ask your inspector if he performs these inspections, or for recommendations.
Other inspections that you may want before purchasing a home may be well water testing, oil tank testing, and septic tank testing. General home inspectors may be qualified to perform all of these tests and/or inspections for additional fees. It is important that you ask your potential inspector what his/her qualifications may be.
If at all possible, it is recommended to attend your home inspection process. This is a valuable educational opportunity. Never pass up the chance to see your forthcoming home through the eyes of an expert. The cost of a home inspection may vary depending upon the size, region, and age of the house. A home inspection could take anywhere from 2-5 hours, again, depending upon the size and age of the home. It is not an inspector's responsibility to correct or repair any potential issues found in the home. An inspector may recommend repair, or seek out skilled professionals in each trade for further information.
A home inspection will definitely give the buyer peace of mind and put the buyer's mind at ease that the home is in good shape. It can also become a negotiation tool in closing and could inform the buyer of potential future maintenance and upkeep. A seller of a home may also request a home inspection before the home is put on the market. This may assist the seller in setting a price, correct any issues with the home before it is put on the market, or merely having a pre-inspection report available for buyers informing them that the seller has nothing to hide.
Do I need mortgage before buying a house?
The list price that you see online is wrapped up in one number, but the reality of buying a house comes with closing costs, a mortgage, and other considerations. Before you begin the searching process, apply for a pre-approved mortgage. This will give you an idea about how much you can afford and what you will have to pay in the next 15, 20, or 30 years. Plus, many sellers may require that buyers are already pre-approved for a mortgage. If you are fighting for the house of your dreams, you will need to do everything you can to get ahead.