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Jack Schlenk's Blog

By Jack Schlenk | Appraiser in Chicago, IL

Chicago Realtors:

Can you match the MLS area to the market data: 01/01/2012 - 12/31/2012 ?

Chicago, IL Markets:
Loop, Near North Side, Lincoln, Lake View, Uptown, Edgewater, and Rogers Park.

Attached Single Family Data;
22% sold and 78% Expired

24% sold and 76% Expired

27% sold and 73% Expired

41% sold and 59% Expired

45% sold and 55% Expired

34% sold and 66% Expired

30% sold and 70% Expired
It is assumed all of the above listings had a BPO and/or CMA

Total 19,339 units were listed for sale.
Total   7,216 units were sold listings.
Total 12,124 units were expired listings.

The MLS areas;
Had an average dollar sale was $312,312, this was 95.43% of the final list price.
The average expired listing was $409,162, and or 31% above the average sale price.

Assume a commission of 5% X $312,312 = $15,616 X 7.216 units = $11,286,505 dollars for the  agents that priced their listing right.

Lost commission of 5% X $312,312 = $15,616 X 12,124 units = $18,932,838 dollars lost for the
for the agents that did not price their listings right.

Realtor's get your pieces of the lost $18,942,838 with a Restricted GP Appraisal Report for the seller and or the buyer? Call or email me for details.

Jack Schlenk 773 685 8300, jack327@sbcglobal.net

Review my resume on my blog

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