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Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market, more homeowners are deciding that’s just not worth the risk, especially in a competitive market like Chicago, Illinois.
According to the latest data from the National Association of Realtors (NAR), the number of homeowners selling without an agent has hit an all-time low (see graph below).
And for the small number of homeowners who do decide to sell on their own, data shows they’re still not confident they’re making a good choice.
A recent survey finds that three out of every four homeowners who don’t plan to use an agent have doubts about whether that’s actually the right decision.
And here’s why. The market is changing – not in a bad way, just in a way that requires a smarter, more strategic approach. And having real estate agents in your corner pays off, especially if you’re trying to sell a home in Chicago, Illinois.
Here are just two of the ways an agent’s expertise makes a difference:
1. Getting the Price Right in a Market That’s Evolving
One of the biggest hurdles when selling a house on your own is figuring out the right price. It’s not as simple as picking a number that sounds good or selling your house for what your neighbor’s sold for a few years back – you need to hit the bullseye for where the market is right now. Without a real estate agent’s help, you’re more likely to miss the mark. As Zillow explains:
“Agents are pros when it comes to pricing properties and have their finger on the pulse of your local market. They understand current buying trends and can provide insight into how your home compares to others for sale nearby.”
Real estate agents know what’s selling, what buyers are willing to pay in your area, and how to position your house to sell quickly. That kind of insight can have a big impact, especially in a market like Chicago that’s balancing out.
2. Handling (and Understanding) the Legal Documents
There’s also a mountain of documentation when selling a house, including everything from disclosures to contracts. And a mistake can have big legal implications. This is another area where having a real estate agent can help.
They’ve handled these documents countless times and know exactly what’s needed to keep everything on track, so you avoid delays. And now that buyers are including more contingencies again and asking for concessions, your agent will guide you through each form step by step, making sure it’s done right and documented correctly the first time.
3. Selling Your House Quickly Even in a Shifting Market
Now that the number of homes for sale has grown, homes aren’t selling at quite the same pace they were. But you can still sell quickly if you have a proven plan to help your house stand out.
Just remember, homeowners don’t have the same network or marketing tools that experienced real estate agents do. So, if you want the process to happen fast, you’ll likely want a pro by your side.
Bottom Line
Having the right agent and the right strategy is key in a shifting market. Let’s connect with real estate agents in Chicago, Illinois, so you don’t have to take this on solo, and so you can list with confidence, knowing you’ve got expert guidance from day one.
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