SELLING YOUR HOME

Homeownership has been touted as the best way to increase your personal wealth. However, for all its moving parts, engaging in transactions such as buying or selling a home can seem overwhelming. Although every transaction is different, there are steps one can take to ensure things progress in a way that is advantageous to all involved. This applies especially to the seller.

LISTING YOUR HOME - Many real estate specialists agree that the simplest and most expeditious way to sell your home is to employ the services of a listing agent. According to RocketHomes, listing agents are responsible for representing the seller in a real estate transaction. That includes advertising the property, creating listings and researching pricing using comparative market analysis.

PICK YOUR PRICE - It is imperative that a seller knows certain facts concerning the value of their home, and are aware of the trends happening in the current market. These are the two main factors to consider when deciding at which price to list your home. Square footage, number of rooms, appliances and type of fixtures installed, (as well as other factors) all play a part in how you set your listing price. Also, the median selling price for homes in your general area affects your listing price, as sellers seek to remain a viable option in a competitive marketplace.

REPAIRS - Planning your upgrades and repairs in a prioritized manner will ensure that you only make repairs or replacements in a way that adds value to the home, and increases return on investment. A cost effective approach would be to focus on the major improvements that need to be made, as opposed to something as trivial as backsplash tiles, for instance. This approach prevents you from wasting time and money on repairs or renovations that may not even be necessary. Properly preparing your home for sale will not only add to the value of your home. but it also helps with the staging of the home, which in turn helps with the marketing of the home. This allows buyers to see the potential of the home at events such as showings and open houses.

MARKETING - According to REALTORS, 74% of agents grow their pipeline using social media, namely, Facebook. Similar to any other business endeavor where there is a product involved, no one will know your house is for sale if you don't advertise it as such. Using resources such as Zillow, LoopNet, etc, in concert with terrestrial efforts to sell by yourself and your agent, ensures that you reach the broadest audience. As with any business, word-of-mouth, albeit when in the correct circles, still goes a long way in spreading awareness that your property is on the market. Marketing online as well as offline and diversifying your marketing efforts is the best way to proceed.

CONSIDERING OFFERS - Once you've properly marketed your home, chances are you'll start to receive offers. You and your agent should be in constant communication during this phase of the process. Depending on the climate of the market, some of those offers may come in over listing price. For those who make an offer below listing price, you have a few options. You can come back with a counter-offer, you can flat out reject the offer, or you can make the decision to just accept the offer. Whatever you decide, make sure you are well informed by seeking the counsel of your agent or an attorney.

Las Vegas is home to one of the fastest growing and most competitive markets in the nation. With so many real estate transactions happening each day in Las Vegas, it is important that each buyer or seller finds a realtor they can put their trust in. For the past 17 years, Chip Madsen has been a top producing agent, gaining respect and trust in all he works with. Whether it’s residential, industrial, land, office space, or retail, Chip has a successful and proven track record of handling it all. Recognized and awarded for the fourth year in a row as one of MYVEGAS’ Top 100 Real Estate Professionals and Top 100 Men of Success, Chip proves that success is not given, it is earned and accomplished through passion and hard work.

Living and loving Las Vegas since 1997, Chip has gained a lay of the land, particularly in the luxury home market and commercial space. But before luxury homes and attending showings filled his days, Chip was the director of sales for a $500 Million-dollar telecommunications company and learned quickly that trust and communication will get you very far in the business world. Now in the honorable position of assisting home buyers and sellers, Chip loves to build relationships with clients and help them build one of the most personal and important investments a person can make in their lifetime.

As part of the Ivan Sher Group, a top producing team in the state, Chip and his team of 14 agents have sold over $750 million in Real Estate in the last year alone. Chip’s real estate career has truly been one to watch, and his life outside of Real Estate is just as fruitful. His golf game is continuously unmatched, and he is also part owner of a winery in Washington. He is blessed with his beautiful wife, Jessica, stepson, AJ, daughter, Ivy Rose, and recently welcomed a new member to their family in 2020, daughter, Peridot. Chip’s passions have led him to great successes in Real estate, in his entrepreneurial opportunities, and his growing family. MYVEGAS is proud to name him- yet again- as one of our MYVEGAS Top 100 Real Estate Professionals.

LESTER "CHIP" MADSEN chip@isluxury.com

702.420.3332

LIC. #S.0073912

@chippness