When looking at the stats, it’s no wonder “frenzy” is used by many real estate agents to describe the current for-sale housing market. Illinois has seen increases in both the number of homes sold and average sales price while also seeing a sharp decrease in home inventory and a 23% drop in the time it takes to sell a home. As a result, agents are urging buyers to act quickly, with same-day offers becoming more common in select markets. When the Chicago Tribune reached out for insights on this market phenomenon, we knew Taylor Johnson clients Baird & Warner and Downtown Realty Company could offer expert advice to prepare buyers for quick action. Read the full article to learn how preapprovals, escalation clauses and an understanding of seller motivations can push same-day offers over the finish line.

A Baird & Warner agent shows a home to a prospective buyer in Chicagoland’s heated housing market, which is experiencing a number of same-day offers. (Abel Uribe / Chicago Tribune)