According to Chicago Agent’s 2013 Real Data, the highest closed single-family home in Chicagoland sold for $12.7 million in Winnetka; the highest closed condo sold for $7 million in Chicago; and the highest closed townhome sold for $2.835 million in Chicago. According to Chicago Agent’s 2012 Real Data’s numbers: $8.9 million was the price of the highest closed single-family home in Chicagoland (in Barrington Hills); $15 million was the price of the highest closed condo in Chicago; and $1.99 million was the price of the highest closed townhome in Lake Forest.
“Some people who may have taken their lumps in the stock market have likely made their money back and more,” Colagiovanni says. “There is a greater level of certainty about the economy, and there is always a multitude of reasons why we have risen from the ashes of collapse.”
Perhaps the most important component of successfully selling real estate, like in many other professions, is networking. Low inventory and high competition levels have given way to pre-market sales, so who you know, Trace explains, may give well-connected agents the competitive edge and help close deals.
“There are times that business is passed along and times in which you receive notification of a new listing coming on…you can reach out to other agents in your community,” Trace says. “Networking and staying in touch with other agents is crucial.”
The profile of affluent prospective homebuyers has been clearly developed, and the agents that serve them are well-equipped with experience, an encyclopedic knowledge of the area and the necessary demeanors. As the market continues to inch forward and luxury clients begin to buy more homes, agents selling high-end properties know exactly what their affluent clients want most.
“They want the agent to become a partner, to fill a role of counsel to them and act as an advisor,” Colagiovanni says. “When selling at the high end, we are not just opening doors and showing people around. They are spending a lot of money and expect a greater level of guidance, and a much more vast knowledge of the specific market and of the macro market.” CA
