[5-DayForum] Using a Realtor

[Jean McCormack]

I'm not sure about your agent's local MLS or Realtor association, but in 
the suburbs of Chicago, we are doing it!

I am a Realtor. My husband and I own a local franchise for a nationwide 
firm. Our own home is currently listed in the MLS, we have also run ads 
in the Chicago Tribune and the local suburban papers. We are well over 
25 calls; about 50% agents.

Our market is very quiet right now. My opinion is that Realtors bring a 
lot to the table. They will compare our home to others that have sold 
and convince their buyers that this is a good deal. Even with their 
commission (we're paying out 2.5 % to the buyer's agent, and since we 
are our own selling agent, there's no additional 2.5%) they will help 
the price rise. Because of their commission, their client may not be the 
top net; but terms may be better, not sure. When listed in our MLS we 
need to list the commission a "variable". This indicates that buyers 
going through the listing office will cause less commission to be paid 
out. Many firms in Chicagoland do this.

Many of the agents that have called me are familiar with the method. It 
is new to me. I read the book about 3 weeks ago; and here we are. I 
think we'll video some of our fun this weekend. I truly believe in the 
market.

We also cleared this idea with our local board, our attorney, and the 
MLS. All is fine as long as we do not call it an "auction". It is an 
open bid, round robin process. We will sell to the highest bidder on 
Sunday night.

Blessings,
Jean McCormack
a Broker from Downers Grove, Illinois part of the Western Chicago suburbs