SELLER’S GUIDE
GWEN FARINELLA BROKER, RELATED REALTY
312.961.9822 GWEN.FARINELLA@RELATED.COM GWENFARINELLA.COM
GWEN FARINELLA BIOGRAPHY
For over a decade, Gwen has stayed at the forefront of Chicago luxury real estate. She initially made a name for herself as a key contributor to Related’s development division, selling and marketing some of the city’s most luxurious condominium developments of the past decade. Her projects include 250 E. Pearson, 270 E. Pearson, 840 N. Lake Shore Drive, 340 E. Randolph, and 60 W. Erie. With valuable exposure to the design-and-build process, Gwen gained a true understanding of what adds to and detracts from home value, both on the inside and out.
Gwen expanded her reach in 2009, when she began marketing and selling existing homes in addition to development projects. Her abilities were proven quickly, as she earned accolades as a Chicago Association of Realtors® Top Producer in 2010, 2011, 2012, 2013, 2014 & 2015. She had continued success in development as she formed half of the team that sold out the final 11 condominiums in the super-luxury Elysian Private Residences— in fewer than eight months.
In 2012, Gwen joined Related Realty. With her she brought her extensive knowledge of the company and its history, as well as her expertise on the Chicago real estate market as a whole.
GW E N FARI N E LL A | 3 1 2 . 9 6 1 . 9 8 2 2 | GWEN .FAR IN ELLA@ R ELATED .CO M | G WEN FAR IN ELLA.COM
CLIE NT T ES T I MO N I AL S
“Gwen is top-notch in all respects.” - Joe G.
“Gwen was professional and efficient.” - Robert and Janet J.
“This is our 5th property and by
far the best experience with
a real estate agent. Gwen is fast-paced (my style), not pushy, she listens, she is funny and she is fun to be with.” - Past Client
“Gwen made the entire experience of buying my first home in Chicago easy. She
was very knowledgeable and helped me navigate the market. I would recommend her to anyone.” - Kim P.
GW E N FARI N E LL A | 3 1 2 . 9 6 1 . 9 8 2 2 | GWEN .FAR IN ELLA@ R ELATED .CO M | G WEN FAR IN ELLA.COM
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TA B L E O F C O N T E N T S
Who We Are - p. 3
The Listing Process - p. 7
Seller’s Checklist - p. 11
The Art of Pricing - p. 15
Closing Expenses - p. 19
Marketing Tools - p. 21
Outreach - p. 33
Related Companies - p. 39
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WHO WE ARE
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R E L AT E D R E A LT Y Related Realty is a full-service residential brokerage firm specializing in home sales in Chicago’s most desirable neighborhoods. Our team of market-leading professionals has access to a vast network of tools and resources that allow them to achieve exceptional results on each client’s behalf. The expertise of our brokers, industry-leading standards and deep knowledge of the Chicago market allows our firm to deliver the best service throughout all stages of the transaction, ensuring the highest level of client satisfaction.
Related Realty, the residential brokerage division of Related Midwest, is an affiliate and key component of Related Companies, the most prominent privately owned real estate firm in the United States. As such, Related Realty is able to deliver the highly personalized service of a boutique brokerage while benefiting from Related’s global, multibillion-dollar real estate platform. Related’s existing portfolio of real estate assets, valued at over $30 billion, is made up of best-in-class properties in premier, high-barrier-to-entry markets. Related Companies is the developer behind the Time Warner Center and the $25 billion Hudson Yards project in Manhattan – the largest private real estate development in U.S. history.
RELATED REALTY is part of a family of firms that have redefined luxury living in Chicago and other cities around the world.
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CU RT BAILEY PRESIDENT, RELATED MIDWEST
When we launched Related Realty in 2012, our goal was to create the premier brokerage in Chicago’s luxury residential market. By assembling a team of the city’s most accomplished and experienced real estate professionals, we have met and surpassed that goal, with the highest average transaction price and highest average annual production per agent in Chicago.
At Related Realty, we are dedicated to providing our agents with unmatched service, support and resources to help them achieve exceptional results for their clients. With the typical broker having more than 10 years of experience, our team is highly knowledgeable and stays abreast of the latest market trends, using a variety of customized real estate metrics to maximize value on behalf of clients.
As the exclusive marketing and sales agent for Related Midwest, Related Realty has contributed to the success of some of Chicago’s most prominent luxury condominium developments, including 840 Lake Shore Drive, The Pearson, The Belvedere, Park Tower, 340 on the Park, The South Loop Luxury Collection by Related and The Mayfair on East Lake Shore Drive.
The bottom line: we know luxury real estate and have the talent, tools and track record that, together, produce incomparable results. We look forward to putting our winning platform to work for you.
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Residences on Lake Shore Park
840 NORTH LAKE SHORE DRIVE, STREETERVILLE RELATED MIDWEST CONDOMINIUM DEVELOPMENT
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THE LISTING PROCESS
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Our distinguished team of market-leading brokers are committed to guiding you through the listing process and will stop at nothing to achieve the highest level of client satisfaction. Our experienced team values open communication and is equipped with the resources needed to enhance the marketability of your property and attract a wide audience of buyers. When working with Related Realty, you can count on superior results.
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WORKING WITH A RELATED REALTY BROKER
To make the listing process efficient, transparent and effective, Related Realty broker take a thorough and analytical approach, which includes the following steps:
1. PROPERTY OVERVIEW
2. DETERMINING VALUE
Conduct a thorough assessment of property
Deliver a comprehensive analysis of comparable
history, improvements made and notable
properties, building or block inventory and
features of your home
price per square foot to determine the optimal list price for your home
3. NAVIGATING DATA
4. TIMELINE
Produce an analysis of market activity including
Lead a discussion about seller needs,
seasonality, trends and velocity to ensure
schedule, expected number of days
you are receiving the most accurate
on market, list date and
and relevant data
marketing calendar
5. PRE-LISTING EFFORTS
6. NEGOTIATING EXPERTISE
Offer advice and recommendations for home
Provide counsel and acts as an intermediary
staging and property enhancements
while negotiating the best possible offer price
to consider prior to listing
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7. FACILITATING
8. MANAGING PAPERWORK
Coordinate showings and inspections and
Handle all paperwork including initial
serves as a buffer for communication with
transaction documents, disclosures and
the buyer’s agent
appropriate contractual items
We’re excited to start working with you, side by side.
VENDOR RECOMMENDATIONS Throughout the process of selling your home, there will be many professionals you will need to enlist to ensure a smooth transaction process. Your Related Realty broker will provide you with the resources you need and connect you with trusted vendors that will assist you along the way.
• Contractor
• Lender
•
Real estate attorney
•
Title company referral
•
Professional stager
•
Moving company
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SELLER’S CHECKLIST
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Making sure your home is in optimal showing condition will set it apart from the competition and help to secure the highest price in the shortest amount of time. The following tips will help prepare your home for sale and boost saleability once you go to market.
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A prospect’s overall perspective on your home begins with the first impression.
PRE-SALE INSPECTION Hire an inspector to assess your property before you sell. If necessary, obtain contractor estimates to repair any major problems that may deter potential buyers.
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HOME REPAIRS
DEEP CLEAN
The smallest improvements can make the biggest difference! Here are a few minor repairs to consider
ü
before listing your home:
Clean all windows and screens to allow as much light as possible into your home
ü
Remove clutter
ü
Clean and polish floors, lighting fixtures
ü
Paint walls and ceiling a neutral color
ü
Re-grout tile and walls
ü
Dust and vacuum regularly
ü
Restore hardware and fixtures as needed
ü
Eliminate any odors
ü
Improve lighting by replacing light bulbs
and faucets
with higher-wattage bulbs
STAGE YOUR HOME
ü
Repair any signs of water damage
ü
Refinish floors to minimize wear
Set the scene by preparing your property to show!
and tear
Neutralize your home by removing bulky furniture,
personal photos and clutter. Adding subtle accessories such as a simple centerpiece, accent
ENHANCE YOUR CURB APPEAL
ü
Spruce up the lawn and landscaping
ü
Add fresh flowers
ü
Check for cracks or exterior features
pillows or a floral arrangement can help liven up a room and make potential buyers feel like they’re touring a model home.
that could use a minor repair
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THE ART OF PRICING
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W H Y I S A C C U R AT E P R I C I N G S O C R I T I C A L ? The combination of the right time and right price is essential for a successful sale. The first 30 days on the market are crucial, as buyers display high interest in new listings and start looking for price adjustments for properties that sit longer on the market.
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The Mayfair 17
189 EAST LAKE SHORE DRIVE, GOLD COAST RELATED MIDWEST CONDOMINIUM DEVELOPMENT
Many considerations come into play when determining the value of a home.
P R I C E - D E T E R M I N I N G FA C T O R S Using optimal positioning and strategic pricing, Related Realty brokers are highly trained to ensure your home is adequately prepared for market and sells for the highest price in the shortest amount of time. Some of the most important factors are: •
Comparative market analysis (CMA)
•
Number of bedrooms and baths
•
Lending market assessment
•
Features and finishes
• Location
•
Property condition
• Size
•
Curb appeal
W H AT I S A C O M P A R AT I V E M A R K E T A N A LY S I S ( C M A ) ? A CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. The purpose is to show fair market value based on what other buyers and sellers have determined through past sales, pending sales and homes recently listed on the market.
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CLOSING EXPENSES
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Closing expenses vary depending on property type and they can be significant. Therefore, it is important to have an understanding of what costs you will be responsible for as a seller. The following guide is designed to give you an overview of the various costs associated with the sale of your home.
SELLER ’ S ESTIMATED CL OSING EXPENSES
Sale Commission
6% of purchase price
Title Insurance* $2,000 State Transfer Tax
$1.00 per $1,000
County Transfer Tax
$0.50 per $1,000
City Transfer Tax
$3.00 per $1,000
Survey $500 - $1,000 Tax Proration
105 - 130% of last tax bill
Attorney Fee
$600 - $1,000+
Figures vary based upon property type, loan amount, closing date, purchase price and other factors. All costs above are estimated. Property transfer taxes vary per local jurisdiction. Please consult your mortgage lender and real estate attorney to obtain the best possible estimate for taxes and other closing costs.
*Based on $400,000 purchase price. If not in Chicago, see local city ordinance. Varies depending upon closing date.
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MARKETING TOOLS
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Constantly forward-thinking, we stay ahead of the curve and execute custom marketing solutions designed to cast the widest possible net and target key demographics. Marketing strategies include a unique combination of proven tactics and cutting-edge techniques to effectively and accurately position your property.
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PROFESSIONAL PHOTOGRAPHY & VIDEO Professional and high-resolution photographs are the most important marketing tools for selling a home. Each Related Realty listing includes a professional photography package, optimized for print and digital use.
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SIGNAGE We strategically install custom steel panel signs in the best location for your property. Signs are designed to maximum visibility, with property information and agent contact information clearly displayed.
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CUSTOM PROPERTY BROCHURE (PRINT AND DIGITAL FLIPBOOKS) Custom property brochures are created by our in-house marketing and design team. Clean, luxurious layouts, rich colors, high-resolution photography and thoughtfully written property and neighborhood descriptions align your home with the level of sophistication sought out by prospective buyers.
1629
SOUTH PRAIRIE AVENUE #2410 SOUTH LOOP
B AT H R O O M
Luxury living at it’s best in the vibrant South Loop
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1 BEDROOMS
|
1 B AT H R O O M S
|
9 0 0 S Q . F T.
|
2 PA R K I N G S PAC E S
DIRECT MAIL Direct mail pieces are created to target specific and qualified buyers. Options include postcards and flyers that build awareness of your listing while highlighting the unique qualities and features of the property. These are also available in digital format for email marketing.
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SOUTH PRAIRIE AVENUE #2410 CONTEMPORARY & VIBRANT HOME IN LAKEVIEW
JUST LISTED BY BROKER
1629 SOUTH PRAIRIE
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CONTEMPORARY & VIBRANT HOME IN THE
SOUTH PRAIRIE AVENUE #2410 CONTEMPORARY & VIBRANT HOME IN LAKEVIEW
HEART OF
SOUTH LOOP
JUST LISTED 4 BEDS
| 4 . 1 B AT H
|
3,600 SQ. FT
|
350 WEST HUBBARD ST. SUITE 100 CHICAGO, ILLINOIS 60654 RELATEDREALTYCHICAGO.COM
2 PA R K I N G
O F F E R E D AT $ 1 , 1 9 9 , 9 9 9
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estate needs.
RELATED BROKER BROKER, RELATED REALTY 312.832.2300 BROKER@RELATED.COM RELATEDREALTYCHICAGO.COM
This is not intended to solicit property already listed.
Contact Broker if you are interested in learning more about this beautiful home or to discuss any of your real
1629 SOUTH PRAIRIE AVENUE #2410 LUXURY LIVING IN THE VIBRANT SOUTH LOOP
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TWO PAGE MARKETING FLYER
1629
SOUTH PRAIRIE AVENUE #2410 SOUTH LOOP
3 BEDROOMS
AN ELEGANT JEWEL IN THE HEART OF THE SOUTH LOOP
|
3 . 1 B AT H R O O M S
|
2 , 2 0 0 S Q . F T.
|
2 PA R K I N G S PAC E S
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OFFER PRICE
$1,125,000 R E L AT E D B RO K E R B RO K E R , R E L AT E D R E A LT Y RIVER NORTH | BUCKTOWN RELATEDREALTYCHICAGO.COM
312.832.2300 B RO K E R @ R E L AT E D. C O M R E L AT E D R E A LT Y C H I C AG O. C O M
This is not intended to solicit property already listed.
A contemporary jewel with views overlooking Lake Michigan 1 BEDROOMS
1629
1 B AT H R O O M S
|
One Bedroom and One Bathroom
•
900 Sq. Ft.
•
Offering Unmatched Style & Views
•
”Classic” Units Include: 9’Ceilings, Floor-to-Ceiling Windows, Private Balcony and Washer Dryer
•
Walk to Lake Michigan, Soldier Field, Museum Campus, or to the Trains/ Buses And Entertainment
•
Hardwood Floors in Common Areas
SOUTH PRAIRIE AVENUE #2410 CONTEMPORARY & VIBRANT HOME IN THE SOUTH LOOP
|
•
9 0 0 S Q . F T.
|
2
PA R K I N G S PAC E S
•
Full Amenity Building: 24 Hour Door Staff, Pool and Sundeck, Party Room,
•
Gym and Terrace Overlooking Lake Michigan
•
Parking Taxes: $53.84 per Space
•
Parking Assessment: $40.68 per Space
•
Two Parking Spaces Included in Purchase Price
R EL AT ED B RO KER B RO K ER , R EL AT ED R EALT Y 312.832.2300 B RO K ER @ R EL AT ED. C O M
RIVER NORTH | BUCKTOWN RELATEDREALTYCHICAGO.COM
R EL AT ED R EALT YC H IC AG O. C O M This is not intended to solicit property already listed.
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DIGITAL MARKETING Email blasts, digital brochures and electronic announcements about your listing are distributed to Related Realty’s expansive database of top Chicago agents as well as our proprietary client database.
1 6 2 9 S O U T H P R A I R I E AV E N U E SOUTH LOOP
J U S T LI S TED 1 6 2 9 S O U T H P R A I R I E AV E N U E SOUTH LOOP
GORGE OU S S OU T H L OOP C ON DO IN T H E H E A RT O F T H E SO U T H L O O P
Luxury condo with views of lake and park.
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1 6 2 9 S O U T H P R A I R I E AV E N U E SOUTH LOOP
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4 BED
|
3 B AT H
|
2 CAR GARAGE
|
$XXX,XXX
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|
3 B AT H
|
2 CAR GARAGE
|
$XXX,XXX
OPEN HOUSE GORGEOUS SOUTH LOOP CONDO IN THE HEART OF THE SOUTH LOOP
TU E SDAY, O C TO B ER 1 0 T H 2PM – 4P M
VIEW THE PROPERTY HERE
RSV P T O BRO KE R@ RE L AT E D. C OM
J U S T A 1 0 M IN U T E WA L K T O L A KE A N D M U SU EM CAM PU S!
E N J OY CAT E RE D L U N CH & SN AC K S P ROV I DE D B Y H A N N A H ’ S BRE T Z E L
DISCOVER MORE HERE
RELATED BROKER N E W O F F E R P R I C E AT $ 9 9 5 , 0 0 0 . S c he d u l e a P ri v a t e V i ew i n g To d ay !
BROKER, RELATED REALTY 312.832.2300 BROKER@RELATED.COM RELATEDREALTYCHICAGO.COM
RELATED BROKER BROKER, RELATED REALTY 312.832.2300 BROKER@RELATED.COM
D
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RELATEDREALTYCHICAGO.COM
4 BED
|
3 B AT H
|
2 CAR GARAGE
|
$XXX,XXX
D S E E F U L L D E TA I L S H E R E
RIVER NORTH | BUCKTOWN
Extraordinary Chicago Properties
R E L AT E D R E A LT Y C H I C AG O. C O M
R E L AT E D R E A LT YC H I C A G O . C O M
This is not intended to solicit property already listed.
b RIVER NORTH | BUCKTOWN
Extraordinary Chicago Properties
R E L AT E D R E A LT Y C H I C AG O. C O M
R E L AT E D R E A LT YC H I C A G O . C O M
This is not intended to solicit property already listed.
N E W O F F E R P R I C E AT $ 9 9 5 , 0 0 0
RELATED BROKER BROKER, RELATED REALTY 312.832.2300 BROKER@RELATED.COM RELATEDREALTYCHICAGO.COM
D
b RIVER NORTH | BUCKTOWN
Extraordinary Chicago Properties
R E L AT E D R E A LT Y C H I C AG O. C O M
R E L A T E D R E A LT Y C H I C A G O . C O M
This is not intended to solicit property already listed.
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RELATEDREALTYCHICAGO.COM Each listing is prominently featured on RelatedRealtyChicago.com. Property details, photographs and contact information are clearly displayed, making it easy for potential purchasers to reach out to your agent to learn more.
ENHANCED ONLINE EXPOSURE Optimized listings ensure that homes listed with Related Realty are expertly represented on top real estate websites. Listings are enhanced and receive the maximum level of exposure on hundreds of top real estate sites including Trulia, Zillow, Realtor.com and Homefinder.com.
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S Y N D I C AT I O N Your listing is distributed to hundreds of top real estate websites including the following: Zillow
Houses.net
Trulia
HousingBlock
Realtor.com
Hubdin
Apartments.com
ImagesWork by CirclePix
HomeFinder.com
Investability
Homes.com
Joyful Home
The Real Estate Book
Juwai
Homes&Land
Kahping
LakeHomesUSA
LearnMoreNow.com
Lands of America
Lifestyled Listings
Assist2Sell
LotNetwork.com
LandWatch
LuxeListHome
AdWerx
MyHouseKit
All Acres
NestBuilder
Close2Homes.com
New Home Source
CommercialSearch
Open Real Estate Community
CondoCompare.com
PadMapper
DODHousingNetwork
PocketListings
eLookyLoo
Point2 Homes
eppraisal
PreApprovalLetter.com
FindaNewHouse.com by Obeo
Property Shark
FindAPlace4Me by VisualTour
RadPad
FindTheBest Homes
RealQuest Express
FixFlip
RealSavvy
FreedomSoft
RealStir
FreeHomeFind
Realy
Guidance Realty
RentalRoost
Harmon Homes
RentHop
Home2.me by TourFactory
Revestor
HomeBidz
SearchALLProperties by L2L
HomeFacts
Showing Suite
HomeSpotter
Veracity
HomeStarSearch
VisualShows
HomeWinks
WikiRealty
Househappy
XiLi Mobile
HouseHunt.com
Ylopo
Housely
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SOCIAL MEDIA Listings are integrated with numerous Related Realty social media channels through both the brokerage and your individual broker, allowing your property to be showcased on many platforms.
ADVERTISING Related Realty has established relationships with numerous local and national publications. Optional print and digital advertising opportunities are available for key publications including: Crain’s Chicago Modern Luxury (CS, NS, Interiors, Men’s Book, Brides) Chicago Tribune Media Group Chicago Agent Wall Street Journal
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OUTREACH
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REVERSE PROSPECTING
LEAD AND TRANSACTION MANAGEMENT
Every week, Related Realty brokers reach out to other agents who have sent your
Our integrated web, CRM, and lead routing
listing to their clients through the MRED
system allows us to quickly respond to and
system. This allows us to proactively work
strategically follow up with leads for your
with those agents to sell your property.
property. With our premier transaction management system, your transaction will be diligently managed from start to finish.
GRASSROOTS
All calls and inquiries regarding your
Related Realty brokers dedicate time
property go directly to your listing broker,
specifically for placing calls and sending
ensuring that all leads are responded
emails to a vast network of top agents and
to in a timely manner and by your
past clients informing them about your
specific agent.
listing before and while it is listed on the MLS.
RELATED REALTY PROPERTY TOURS BROKER OPEN HOUSES Broker open houses are held exclusively for licensed brokers so they can view your property before bringing their clients through. This mode of broker-to-broker networking helps create awareness and buzz about your listing.
Each month, Related Realty brokers attend a company property tour, allowing them to view properties listed by fellow Related Realty agents. This service results in additional exposure for your listing and provides your broker with constructive feedback on the property.
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LEVERAGE GLOBAL PARTNERS
Listings benefit from Related Realty’s status as the exclusive Chicago affiliate of Leverage Global Partners, an international network of independent luxury brokerages that serves the relocation needs of buyers and sellers in more than 162 national and international markets. Through our exclusive affiliation with Leverage Global Partners, we can promote your listing to an international audience with buying power. With combined analytics of more than 26 million monthly page views and 6 million monthly visitors, your home is exposed to the most affluent buyers around the world - one more tool Related Realty utilizes to get your property sold. Through our exclusive relationship with Leverage, your property is searchable through the following real estate channels: WSJ.com NYTimes.com International.NYTimes.com PropGoLuxury.com LeverageRE.com
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SUPPORTING OUR COMMUNITIES At Related Realty, we are committed to improving our community and pride ourselves on having charitable giving as a core value of our business model. We make it our mission to support various charitable organizations through donations, volunteer hours, sponsorships and related philanthropic initiatives.
Philanthropy is a priority at Related Realty and we make it our mission to lead by example. We will continue to give back to support the common goal of bettering our community.
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R E L AT E D C O M PA N I E S
Hudson Yards NEW YORK CITY
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R E L AT E D C O M P A N I E S Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Chicago, Boston, Los Angeles, San Francisco, South Florida, Abu Dhabi, London, Sao Paulo and Shanghai, and boasts a team of approximately 3,000 professionals. Our company’s existing portfolio of real estate assets, valued at over $30 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier, high-barrier-to-entry markets. We have developed preeminent mixed-use projects, such as Time Warner Center in New York City and CityPlace in West Palm Beach, and are currently developing the 28-acre Hudson Yards project on Manhattan’s west side.
R E L AT E D M I D W E S T Related Midwest, the Chicago office of Related Companies, is a global lifestyle firm defined by innovation in all aspects of design, development, service and wellness. With a significant legacy and existing portfolio of properties in Chicago, Related is a fully-integrated company with expertise in development, construction, management, and financial services. Among Related Midwest’s successes in downtown Chicago are The Residences on Lake Shore Park (comprising 840 Lake Shore Drive, The Pearson, and The Belvedere), the Park Tower Condominiums at 800 N. Michigan Ave., and 340 on the Park at 340 E. Randolph St., the first LEED Silver residential tower in the Midwest. Related has recently reshaped luxury rental living in downtown Chicago through its high-end apartment projects: 500 Lake Shore Drive and OneEleven. Currently in development, One Bennett Park is Related Midwest’s latest endeavor. In partnering with Robert A.M. Stern Architects, named one of Architectural Digest’s top 100 architects in the world, Related is creating a unique offering on the lakefront in Streeterville that pushes the boundaries of gracious living through design, technology, and sustainability in boutique high-rise living.
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OneEleven CHICAGO, IL
520 W. 28th NEW YORK, NY
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Park Tower CHICAGO, IL
One Bennett Park CHICAGO, IL
The Century LOS ANGELES, CA
840 Lake Shore Drive CHICAGO, IL
500 Lake Shore Drive CHICAGO, IL
70 Vestry
NEW YORK, NY
Time Warner Center NEW YORK, NY
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RELATEDREALTYCHICAGO.COM