A listing agent is a real estate agent whom you use to only list your property. They place your property on the market, on the MLS, a national property listing database, and let others realtors know about your property. They do nothing more. You can get one to do this for you for a flat rate. Then you have to take care off the rest to get the home sold, negotiated and closing escrow. This might be an attractive chose for some individuals who think they can handle this and can save you the five percentage commission the realtor charge.
If you elect to go this route, make sure you hire an attorney to make sure all the documentations are in order to finalize the sale. Its better to be safe and get an attorney and with the 5% commission that you won’t have to pay out, you can afford to pay one so don’t be cheap.
Many people are tempted with the idea of selling their property by themselves to save the cost of paying a real estate agent. So what are the benefits of having or using a real estate agent to sell your home?
First, the agent will list your home in national databases that only real estate agents will have access to, like the MLS. This means that your home will automatically appear on thousands of websites allowing hundreds and thousands of potential buyers to see it. Second, a real estate agent will know the Chicago market better than you, they sell and list homes every day, they negotiate for a living. Third, they know and work with all the necessary parties that is required to sell a home. These people range from a home inspector, appraiser, to escrow agents. Forth, they know other real estate agents and can get the word out about our property. This is particularly important if you have a nice home which can be solve very quickly by word of month.