Home Selling in Chicago>Question Details

Michael Pred…, Home Owner in Chicago, IL

I will be selling my condo in DePaul area very soon.

Asked by Michael Predescu, Chicago, IL Mon Jan 14, 2013

I will list it on my own. If interested It's a 2bd 2 ba 2 private car garage 2 balconies and a very large deck on top of the garage.$469k

Help the community by answering this question:


Jeff Stewart’s answer
Hey Myke,

Please don't take any of my information as an attack but I truly want to help you be informed with as much information as possible - even though it may sound awfully blunt.

I truly feel you're doing a disservice to yourself and your condo by listing on your own. In your price point your unit needs to be marketed with professional photos, virtual tour, floor plan, for-sale sign, e-blasts and also needs to have it marketed on all of the major websites as over 90% of all buyers start their search online. Can you post your listing to these sites? Sure, you can BUT by not being backed by a major brokerage, like @properties, your listing will fall by the wayside by not being marketed on the first pages of people's searches. When people go on Trulia or Zillow they, at most, look at 3 pages of listings before they lose interest or readjust their search. All of the major brokerages pay a ton of money to these sites in order to have their listings appear first so unfortunately your listing won't have any presence online. You can also list on Craigslist but no one looks for real estate on Craigslist because, well, it's Craigslist... Your question above is certainly a way of marketing but as a Realtor I would never want to put my client in a situation of me saying "There's a guy on Trulia who is selling his home by owner...want to take a look at it?" There are no photos, there's no link to any marketing, etc. and because this is a business for me I have to know that you're offering a commission - do you know what to offer as a commission?

Another point to think about is that in your price point you are catering towards professionals who make good money - thus likely have busy work schedules. These people generally don't have the time to do a "For Sale by Owner" situation or do all of the searching/scheduling showings on their own because they have a Realtor (who is a free resource to buyers) to do all of the work for them. There is also more risk in not working with a Realtor because we're here to help you understand everything from disclosing defects to providing a trustworthy real estate attorney to going over the legal language of contract paperwork.

Does it sound nice to save thousands of dollars? Of course, I'm just as interested in saving money as the next person BUT to be able to have a professional Realtor represent your condo properly makes such a difference in how your home will be marketed, how quickly it'll sell and for how much you'll get for your home.

Hopefully you stuck around for my long-winded answer but please don't hesitate to call me to chat more if you have questions. Even if you don't end up working with me I still feel a chat would be valuable for you.

Jeff Stewart
REALTOR®, @properties
3101 N. Greenview Avenue | Chicago, IL 60657
309-269-3499 CELL | 773-305-0480 FAX
0 votes Thank Flag Link Thu Jan 17, 2013
By working with a Realtor their expertise and access to information will sell your condo, if properly priced. Should you need any assistance, feel free to contact me.
Web Reference: http://www.BJDHOMES.com
0 votes Thank Flag Link Wed Feb 6, 2013
I am not a realtor. I am a home buyer and seller and this is just my advice so take it for what it's worth.

From a buyer point of view I will say that I will NOT look at FSBO homes for a number of reasons. I did attempt to purchase one FSBO in the past and it was a horrible experience. The buyer was too emotionally involved and after the appraisal I discovered the home was overpriced. Even though you may think you are not emotionally attached and have a great business sense, you are too attached and that gets in the way.

I have also noticed FSBO are always over priced, which is another reason I steer away from them. I am in the market for a home in the $500K range and as someone else mentioned, I do not have time to do the research on my own. A realtor's experience is free and invaluable when it comes to this search. Of course I'm utilzing one as a buyer. And, that realtor is not showing us FSBO homes.

On the other side, as a seller, I have used a realtor and feel confidant if I had not used one I would have been out not only time, but money as well. The longer your home sits the more buyers wonder what is wrong with it and proceed with caution. Plus, the hassle of showing, negotiating, etc...takes a lot of time. Who has that?!

Before listing with a realtor I thought to myself about the DOM it would take to sell with a realtor vs. on my own. What's the point in saving the commission if you end up sitting on it longer and having to pay the current mortgage and utlities.

Bottom line....hire a realtor instead of trying to be greedy and pocket a little extra.
0 votes Thank Flag Link Sun Jan 20, 2013
yes I agree with the other post an Experienced Realtor is the way to go at that price range
0 votes Thank Flag Link Tue Jan 15, 2013
Myke - I would recommend using an agent to sell your property
Sorry to use a Cliché but you get what you pay for. A good agent will be able to get you a better price in a shorter period of time.
Either way - good luck with the sale and should you have any questions regarding financing please feel free to contact me
Sam Sharp
Guaranteed Rate
Senior VP of Mortgage Lending
0 votes Thank Flag Link Tue Jan 15, 2013
you should have me come over and give you advice.. it is not as easy as you think..I can help you.
0 votes Thank Flag Link Tue Jan 15, 2013
Hi Myke,

Now is a great time to list your property. Inventory is low and demand is growing. Contact me for a meeting to show you how I can help you achieve your goals.

All the best,

Ivan Sagel
0 votes Thank Flag Link Tue Jan 15, 2013
What cooperating commission will you be offering? What professional photographer will you be using for your photos? How did you determine the value? Will you be producing flyers and a brochure? What will you be using for signage? What Internet distribution channels will you be using? How will you be qualifying buyers before letting them into your home? Will you be able to accommodate showings at all times of the day and on short notice?

At your price point we would handle the sell side for 2.25% on top of the cooperating commission. If your place sold for $450K then it would cost you an incremental $10,125. Or if you thought that was too much you could pay us by the hour. You can call me at 312-738-0232 for more information.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Tue Jan 15, 2013
You will have to show some pictures, give more detail, etc. I would interview some agents if I was you. 90% of people selling on their own, end up using a Realtor. At least you can use us to get a proper valuation on the place. Interview two or three and go with the one that has the most to offer, and that you feel comfortable with.

Matt Laricy
Americorp Real Estate
0 votes Thank Flag Link Tue Jan 15, 2013
As you can see you are very popular. Everyone wants to be your next best friend. Be careful.
0 votes Thank Flag Link Tue Jan 15, 2013
Myke, I have a client that is looking in that area right now and is not happy with the current inventory on the market. I am not looking to list your property, but if you could send me the address so I could pass it along to my client, that would be great. Maybe we can work something out.
0 votes Thank Flag Link Tue Jan 15, 2013
Hi Myke

I would be happy to give you a home evaluation. I have been in real estate for over 12 years and I have sold in the DePaul area. To learn more about me you can visit my website at http://www.lalagreen.com
I have a track record of success.


Lala Green
0 votes Thank Flag Link Tue Jan 15, 2013
Myke, right now inventory is very low and I get many requests for high quality properties in LP. Can you send me your contact info so that I can pass along interested parties? I promise not to pester you to list it!
--Diane Boyle, Broker
Prudential Rubloff Properties
LP- Halsted
0 votes Thank Flag Link Tue Jan 15, 2013
The average closed price for a 2 bd 2 bath in Lincoln Park in 2012 was $332,013. Market time averages 123 days. And there is currently 5.2 months supply of inventory of 2 bedrooms condos in LP. You are pricing it way above average and hopefully for you the specific location within LP and the specific features for you property warrant the higher price.
0 votes Thank Flag Link Tue Jan 15, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer