There are many common problems sellers face when working with real estate agents in Chicago. Learn more about what to watch out for in our latest post!
Before we get started, let us first say that there are some truly great agents out there. However, selling with one isn’t always the best way to sell a house. Every house is unique as is every situation sellers are facing. This is why there should be options when selling. Before you decide to list your house, consider all of the ways you can sell your Chicago house, and then choose which method is right for you. Below are a few common obstacles sellers face when working with an agent.
The Money Up Front
When you list a house it will need to be competitive with the others on the market if you want to sell fast. Most houses will require not only repairs but also a thorough cleaning and continued upkeep. You might want to stage or pay to have some of your belonging put in storage to make the house appear less cluttered. These costs come into play before the listing agreement is even signed.
Marketing and Other Expenses
Not all agents are full service. Some will charge you additional fees on top of their commission. Or they will leave certain aspects of the marketing up to you. There are flat rate agents who will list your house on the MLS and that’s it. You will need to show the property, handle questions, pay for additional marketing and more. Every agent is different in what they offer. If you choose to work with a Chicago real estate agent, make sure you know what services they provide.
Glorified Listing Prices
To be fair this isn’t a practice that all agents use but it definitely still happens pretty regularly. Some agents will tell a seller whatever they want to hear in order to get them to sign an exclusive listing agreement. Once the exclusive listing agreement has been signed the seller is legally obligated to pay the broker a commission if the property is sold during the specified period. Be wary that a broker may present promises of an inflated sale price for your home to entice you into signing an exclusive agreement and then come back to you shortly after listing the property requesting that you continually drop the price in order to sell the property.
A Non-Responsive Agent
There is nothing worse than being stuck in a listing agreement with someone who doesn’t return your calls. A good agent will make you feel as if you are their only client. They will answer all of your calls and questions and touch base with you frequently to let you know of any developments in the selling process. You should never have to call more than once or spend time having to track them down. Remember, they work for you!
Being Stuck In A Contract
Getting stuck in a listing agreement can be very frustrating. Most agreements will state that the agent is entitled to their commission no matter how the house is sold. Even if you find the buyer yourself, you will still be required to pay your agent. It is especially frustrating when you get stuck with an agent who isn’t working as hard as they should be. You can find yourself doing much of the work, only to have them collect their fee when all is said and done.
Selling Direct Might Be For You
For many houses in the Chicago area, a direct sale can be a much better choice. There are no commissions, fees, repair costs, or marketing expenses. You’ll be provided with a guaranteed close date from an experienced buyer so you won’t have to worry about when your house will sell or if the sale will fall through.