Home Selling in Chicago>Question Details

Kbiii, Home Buyer in Naperville, IL

I will probably put my downtown Chicago up for sale once I am pre-approved for a new loan so that I can buy a house to move into.

Asked by Kbiii, Naperville, IL Sat Feb 2, 2013

I want as many people interested in it as possible. One real estate agent has sold the most condos in my building and another says he has several clients looking for a place like mine (I would be the only 2 bedroom available in the building at this point and last one they say sold for a good dollar amount). How am I able to not be locked into just one real estate agent since I would have more buyers interested if I had multiple agents bringing all thier interested clients? I have never sold real estate before and not sure how it works.

Help the community by answering this question:



I am a local mortgage broker here in Naperville and would be happy to help you get pre-qualified. We work with over 30 lenders to help you get the best possible financing. Our lenders will go as low as a 580 score on an FHA mortgage. SMC carries an A+ Better Business Bureau Rating and has worked in the community for over 15 years! Please call me at 630-478-2684, email or visit my website get started.

I look forward to working with you.

Best regards,

Patty Harrison
Smart Mortgage Centers
patty@smarmtgs.net / http://www.smartmortgageinc.com
0 votes Thank Flag Link Tue Feb 5, 2013
Interview 3 Brokers and work with the person you are most comfortable with. Reviews of the agent help too!

Nick Steffes
0 votes Thank Flag Link Tue Feb 5, 2013
Look at more than one presentation and consider the advantages and disadvantages of each.
Some agents tell you what you want to hear. In the real estate profession, this is known as “buying a listing” and is employed by shortsighted agents who are more interested in themselves than they are in you.
If you will go with the commission what they offer you dosnt mean you are winning. You get what you pay for. Paying a cut-rate commission will often get you a sign in the front yard and placement in the Multiple Listing Service, but little additional effort from your agent.
Realize that agents and real estate companies put up their own funds to market and advertise your home. Marketing and advertising costs money -- the lower the commission, the less incentive for an agent to put up his or her own money to market your home.
Since there are almost always two agents involved in every sale, they split the commission according to the listing agent’s instructions. One agent is your listing agent. The other agent is the buyer’s agent.
Large company, like mine Koenig&Strey, often have larger budgets and can spend more on advertising. The ad space for your particular home might not be huge, but because the total ad is so large it gets lots more attention.
The real estate profession is constantly changing and, as mentioned above, the best real estate professionals stay abreast of those changes by continuing their education.
You just need one agent who gona stand for your interest, who will be an excellent negotiator and get you the highest possible price in the shortest amount of time.
0 votes Thank Flag Link Sun Feb 3, 2013
i will have an auction so that all the agents can bid against each other and only charge you 3% to do it..
0 votes Thank Flag Link Sat Feb 2, 2013
You really need to get your property on the MLS. Very few agents will agree to list your property if you do not have an exclusive listing agreement with them. If your agent knows what he/she is doing and you both work together, your property will sell. Feel free to contact me should you need any assistance.
Web Reference: http://www.BJDHOMES.com
0 votes Thank Flag Link Sat Feb 2, 2013

You really only need 1 agent/broker. Once listed it will be seen by ALL brokers and they in turn will bring you their buyers. PERIOD.

If you exercise a non exclusive listing agreement the chances of you receiving less than "stellar" perfomance is more likely. The incentive is a guaranteed right to sell exclusively.

Good luck!
0 votes Thank Flag Link Sat Feb 2, 2013
Lucid, it is always good to see more than one perspective here. There is often more than one way to successfully address an issue.
0 votes Thank Flag Link Sat Feb 2, 2013
When your property is listed in the Multiple Listing Service, it will be seen by tens of thousands of agents and prospective buyers. An agent who tells you that you should list with them because they have buyers for your property are feeding you a line. I agree with the others that you need to interview at least 3 agents to determine the one you feel would best represent and sell your home. Do your homework. Ask for referrals from neighbors, friends or colleagues. Find out who has sold condos in your building or area (for a good price) and knows your specific market area well. You want someone who knows how to market your building/neighborhood but is not so jaded about selling in the building that a lockbox is put on the door or a key is left with the doorman and no one is ever actually connecting with potential buyers.
0 votes Thank Flag Link Sat Feb 2, 2013
Oh this is some loaded question.

A) you do work with ONE Realtor, in other words you have ONE listing agent, you discuss what you expect, tell him all about your property and your future plans, select and be committed to the Realtor
you connect best with and you have the feeling that you will hear from him or her regularly about what
happens at showings etc.

b) Listen to the listing agent you will be working with, because this is a cooperation between you and
your listing agent, you need to price your property RIGHT, market friendly and competitive, and ask
your listing agent what he does as far as advertising and marketing goes, just so you know, depending
on property some marketing works and some does not, your Realtor will select the best ways.

c) and you may be asked to prepare your property so that it will show best on photos and to visiting


You need to list with the one Realtor you have a good rapport and understanding with of what is
going to transpire during the listing period, if you have NEVER sold real estate you do need a good experienced Realtor on your side.

If you want me to recommend a colleague of mine in the city, let me know I gladly make a good
recommendation for you.

Good Luck to you if you have more questions or concerns just e-mail me

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
0 votes Thank Flag Link Sat Feb 2, 2013
David, here's my point though. If this agent with all the buyers really has buyers interested in this property then 1) he/she is going to bring those buyers to see the property REGARDLESS of who markets it. The seller doesn't need to hire him/her to gain access to these buyers. 2) If this agent really has buyers that might want to buy the place then the seller should just offer them a 2.5% co-op and get the deal done without having to pay another 3.5% to a listing agent. I suggest #2 primarily as a way to smoke out what I believe to be a bluff by this agent but I know of cases where sellers have actually sold their homes this way. And I don't believe in dual agency - really a bad idea.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Sat Feb 2, 2013
I am a big believer in as much exposure uses possible for a listing. I also believe there are a finite number of people who are ready willing and able buyers of any property, and that it only takes one solid buyer to get the sale done.
I am not advocating listing with someone simply because they say they have a buyer in hand. There are ways to know before you put a listing live in the MLS what the demand is and most of all who those potential buyers are. An agent who crafts a marketing plan around that information, who reaches out to those buyers and the agents who represent them, can give the seller an advantage in the market.
There is nothing disingenuous about being the best at this you can be, or even doing dual agency on a sale if it gets both parties the best possible outcome.
0 votes Thank Flag Link Sat Feb 2, 2013
Cesar Caballero
Managing Broker Associate, ABR, CDPE
Broker, Chicago, IL
The best thing i can recommend is for you to interview at least 3 Agent from "your area". Dont be WOWED by there fancy presentations, look at there sales experience and availability (full-time or part-time). Once you choose your agent you can decided how long you want to list your condo for. your agent will probably be a member of the MLS (Multiple Listing Service) this will enable all the licensed Realtors that have interested buyers to view your condo.
I am a Metro Chicago Realtor with16 years of experience, once your ready for Downtown i will gladly help you. Good Luck..
0 votes Thank Flag Link Sat Feb 2, 2013

I'm not following your point about the importance of agents "having buyers". On the one hand you say it's important but immediately after that you say the game is really about getting in front of other agents that have buyers. The numbers just don't support the importance of an agent having just 1 or 2 buyers. A typical decent listing will eventually match the MLS search criteria of anywhere from 200 - 600 buyers. Let's use 400 as the midpoint. Maybe 20 of those people will actually want to see the property. So what real value does an agent bring to the table when they have 2 out of 400 buyers, each of which has maybe a 5% chance of even wanting to see the place?

I feel like this marketing ploy by agents trying to get listings is extremely disingenuous.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Sat Feb 2, 2013

You have lots of data to sift through here. I suggest you select a single agent who provides you with a comprehensive marketing plan backed up by a history of performance. If it happens to be the agent who you say does a good book of business in your building, so be it. At the end of the day the agent's marketing program is going to lead to prospects. Does the agent advertise? Does the agent have preferred relationships with the most significant web resources such as Realtor.com, ChicagoTribune.com, zillow and trulia? Does the agent have a credible and intelligent answer as to current market value and the market's current contour?

As you decide, I urge you to consider is the manner in which real estate has shifted in the last four or so years. The brokers who have done consistent levels of business during this down time with intelligent programs are the first and likely last place to look when selecting an agent to market your listing and represent you in buying a new home. Experimentation with what likely is your largest economic activity, your home, is not what you want to do. At least in my opinion it is not. It is much better to go with a proven commodity - an agent who will get the job done because he/she in the past has a proven track record. An agent who gets the job done because he/she has a systemic approach to seamlessly marketing and selling your home.

A good agent spends a lot of time thinking about what you have asked and establishing a credible and proven response. I invite you to click this link to see the systems I have established en route to consistently being among the top brokers in Chicago:


Good luck with your choice both in selling and in buying. If I might offer further insights, my contact info is below.

Tom McCarey
The Real Estate Lounge with @properties
Expertise in Contract Negotiation, Luxury Home Marketing and Buyers' Representation
Annually Recognized by the Chicago Association of Realtors Since 2002

0 votes Thank Flag Link Sat Feb 2, 2013
Some excellent information here, all designed to help you find a top tier agent to sell your property.
A few additional comments-
A listing agent who farms a building and sells multiple units there has intimate knowledge of the building, but may also undervalue your unit based on the past experience with over coming objections from buyers about the building, amenities, location, etc.
A good Realtor will do their homework on price, they can get a fresh perspective to share with buyers from you about living there, and they maybe better at handling objections than that imbedded agent.
The MLS is now the main distributor of your listing to websites, so while a robust marketing plan is important, having an informative listing with high quality photos is key.
Access is also critical, hire someone or a partnership/team that will promise you they get virtually all requests to see property filled promptly and on time. If the buyer can't get in when they want to, they will get in somewhere else, not a good thing for you.
Lastly, I disagree about "having buyers" not being salient or accurate. Some agents have one or two parties they know are looking for something like your unit. Those of us who know how to maximize our tools can accurately tell you exactly how many buyers are working with agents to find your unit, and with a coordinated campaign to reach those agents and buyers, we can get your property in front of every possible purchaser when it goes on the market as well as during the listing.
This is not rocket science, but it is an effort that demands the best people and game plan to get you the bests price and terms.
As always feel free to call, text or write if you'd like some assistance.
Dave Hanna 773-732-9123 davehanna@realtyexecutives.com
0 votes Thank Flag Link Sat Feb 2, 2013
You are better off working with one listing agent and allow the MLS bring you buyers. It is not likely the listing agent will also have the buyer. Not is this a good thing to be a "duel agent" on a transactipn
0 votes Thank Flag Link Sat Feb 2, 2013

The best way to get the right agent is simple and it's a combination of four factors. You want an agent who:


Feel Free to watch these videos:





Sohail A. Salahuddin | Group Founder

Innovative Property Consultants Group | Sales and Leasing


Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 

O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Locally Known, Globally Recognized"
0 votes Thank Flag Link Sat Feb 2, 2013
You need to commit to one agent. Nobody of quality will work with you without an exclusive agreement.

Here are some questions to ask your potential listing agent:

1. What makes you different from other Realtors?
2. What is your list price to sales price ratio?
3. What is your average market time?

Best regards,

Ivan Sagel
0 votes Thank Flag Link Sat Feb 2, 2013
Here is a post I wrote on the #1 myth about selling your home: http://www.chicagonow.com/getting-real/2011/06/the-1-myth-ab… It focuses on this bogus claim of "having buyers". In reality there are probably over 150 buyers out there working with close to 150 different agents right now who are looking for something like your condo and all your agent has to do is reach out to them. If you were dependent on the buyers of one agent to buy your home it would never sell.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Sat Feb 2, 2013
Get one good agent. They will be able to market the property and get all the buyers in there. Interview two or three agents and go with the one you mesh best with. Some agents who just work certain buildings. arent representing your best interested. They may have 5 units for sale in a building. They dont care about selling yours, just as long as one of the 5 sells. The second they see a buyer doesnt like one thing, they then give up and try and push a different unit in the building. I would see what other people can offer, and I would be happy to help.

Matt Laricy
Americorp Real Estate
0 votes Thank Flag Link Sat Feb 2, 2013
You will not get more buyers with more agents. Everyone uses the same site to find condos. MLS if you feel comfortable with the agent that sells the most in your building, work with thm. Just ask them what their list price to sale price rate is. You want an agent that gets you the most for your place, not just one that sells fast.
As far as the agent that says they have buyers, A. He will still have those buyers for you if you list with someone else. B. If he represents both sides of the deal "dual agency" how is he able to work in your best interest and his buyers at the same time. Answer, not likely. Good luck with your sale.
Tim Gallagher
0 votes Thank Flag Link Sat Feb 2, 2013
Hi there,

Unfortunately that's not how it works in Chicago. You'd actually be doing yourself a disservice by working with multiple Realtors because no one would be able to have what's called an Exclusive Listing Agreement. All brokerages require this (meaning they're the only brokerage who can market your condo) in order to advertise your home's listing on the MLS which all Realtors in Chicago have access to. By having your condo on the MLS (after signing an exclusive listing agreement) that is how your home's listing gets distributed to all of the major websites where buyers can easily find it on their own (Trulia/Zillow/Realtor.com/Tribune/etc.). Without an exclusive listing agreement no one will be able to find your home's listing, neither buyers or Realtors, aside from random word of mouth.

Also, keep in mind that any good Realtor wouldn't bother working with a Seller who isn't signing an exclusive listing agreement. As Realtors we work on commission only so why would we use our time to help someone when the odds of us making a sale is much less than average?

I hope you understand where we're coming from on this and please don't be offended by anything - I'm just offering true and honest advice. I have plenty of 2BD downtown Buyers currently but keep in mind if you were to list with multiple Realtors tomorrow, I would have no way of knowing what you had because there's no real way for any of those multiple Realtors to advertise in ways that would expose your listing to everyone in Chicago. The only way to do this is by signing an exclusive listing agreement with one Realtor.

I would honestly recommend interviewing a few Realtors and picking one - clearly I would like to be one of them in the running because I feel I can offer above and beyond what many others can offer - especially in marketing and the amount of work I invest in each of my listings.

Jeff Stewart
REALTOR®, @properties
618 W. Fulton Street | Chicago, IL 60661
309-269-3499 CELL | 773-305-0480 FAX
0 votes Thank Flag Link Sat Feb 2, 2013
When agents try to get you to list with them they sling around a lot of BS. I've written on this extensively: http://www.chicagonow.com/getting-real/2012/05/how-realtors-…

The way it really works is that you need an agent to effectively market your condo to buyers' agents. If this is done properly then you will have many agents showing your property to their buyers. You don't need an agent that "has buyers" because no matter who lists your home this agent will bring his buyers by to see your house. They do this in order to get the co-op commission. If you want to shut this guy up tell him that since he has buyers you don't need a listing agent, you'll just give him 2.5% if one of this buyers buys your home right now.

Also, selling a lot of condos in your building is irrelevant. Any halfway decent agent can effectively market your unit. What you should focus on is what specifically the agent is going to DO for you.

We do more than any other brokerage in selling your home, yet we discount our commission.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Sat Feb 2, 2013
What is the address of your building? All good advice below, now picking the right agent with the right selling strategy will help you get the best price!

I would be interested in discussing with you further! Wouldn't hurt to interview a few agents to get different perspectives.

Laura Meier
212 E. Ohio
Chicago IL 60611
cell: 312-282-2122

See more about me and my listings at http://www.atproperties.com/laurameier
0 votes Thank Flag Link Sat Feb 2, 2013
Hi Laura!
Flag Sat Feb 2, 2013
You need to commit to using one Realtor to represent you -- only one can put the listing on the MLS, and you're only going to pay one commission. The agent who brings the buyer will share the commission with your agent. If you want your agent to work hard to get your home sold, they need to know they will be getting paid at the end of it. Feel free to reach out to me if you have further questions!
0 votes Thank Flag Link Sat Feb 2, 2013
The way it works is once you list with ANY agent into the MLS, the listing is seen by ALL the agents in a 5 county area....more than 20K agents. The listing also is syndicated to literally dozens of R E web sites......like Trulia. It does not matter whether what R E company you use. This is standard practice. The whole world will see the listing and your agent can add up to 16 pics and a video tour. Selling R E has become much easier and more cost effective than it was before the Internet came along. My web site has more detailed info on how it works.
0 votes Thank Flag Link Sat Feb 2, 2013
You're missing the point of how real estate works these days. Hire an experienced realtor who is an aggressive marketer who will have professional photos, virtual tour, YouTube video and a comprehensive plan for maximizing buyer exposure. Your listing will go on the MLS and the thousands of real estate sites out there. Interested buyers can go thru their own agent to view the condo. Yes it's important to choose someone who's very familiar with the specifics in your building who can convey its benefits and amenities -- I would think that is more important than choosing someone who "has a lot of interested buyers" -- that's often used as a ploy to get a listing. Make sure you talk with your loan officer about the risk of buying before you sell; you could get stuck with multiple mortgage payments until the condo sale goes through. Best of luck to you!
0 votes Thank Flag Link Sat Feb 2, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer