Need Advise About Selling a Condo Without an Agent!

Hi M., just to let you know I am an agent with Coldwell Banker. If you want to get your condo on the MLS I think you can pay a flat fee with a "discount broker" not a full service real estate company. Remember that with a full service company you don't pay anything until it's sold. Also the marketing is extraordinary & you won't get that with a discount broker. In a "hot" market selling by owner may not be so hard but this is not a "hot" market. Also people usually bid lower because they know you're not paying an agent. I have a background in interior design & my last condo I listed on 7-7-07 & went in & "staged" it & 7 days later had an accepted offer. Average market time is 120 days right now with 60 days to closing so a total of 180 days. I'll be done with this in a total of 3 weeks. The MLS is not enough in this market. You need someone to follow-up, hold broker's tours, open houses, spend $$$ on marketing & get it to the right people. If I listed your condo & someone clicked more info on Realtor.com, a message is sent to my phone within seconds & I have 15 min. to call that person back & answer their questions or someone else in my office will. Usually internet shoppers have a 15 min. attention span & then they're off researching someone else's condo. You need the technology & the skills of a real person. Be careful with the discount brokers. They don't follow up, don't spend money on marketing yet they still get paid upfront & I see there stuff on the MLS with market time in the hundreds. I hope I'm not bringing you down, I'm just being truthful. If selling is your goal, & your house is on the market forever & your paying the bills there, it's the same as having it sold quick then after the fact paying a realtor. Except less stress. I would be more than happy to answer any of your questions about the market or home staging if you're interested, please call ###-###-####. (You can give me a call, no strings attached.)
L. C (mom of a 20 month old girl, Antonia.)

I think it all depends on the location of your condo. For example, two years ago, we put our West Loop condo on the market and it took 5 months to sell! While the West Loop is a good, affordable place to live (for the city), the market was (and probably still is) completely oversaturated with inventory, not to mention we had to compete with new construction (despite having all the amenities of granite, stainless, diagonal hardwood, etc. in our unit). I still watch the market in that area, because I always wonder if we got out at the right time or if we should have waited. I'm glad we sold at the time because the selling prices are the same and slightly lower than what we sold our unit for. Many of the units in my particular building have been on the market for 6-12 months - yikes!

In my opinion, I think it all depends on your neighborhood. If it is a 'hot' neighborhood and the time on the market is short, then you should be fine. If not, and you want to sell ASAP, the fantastic marketing/networking benefits a Realtor can provide may be well worth it.

Hi M.,
I bought a condo last year from a seller who was going through BuyOwner. We had a great experience and it was cheaper for both buyer and seller. I would definitely recommned having an attorney present for you at the closing however, which actually doesn't cost that much.
P.

Hi M.. I'm going to give you my husband's information. His name is Malik Livingston. You can call him at ###-###-####. He works with people in situations similar to yours, and I am sure he would be able to help you.

Good luck.

This may be tough. Are there still new condos being sold by the builder as well that you will be competing with? Also, with a condo you probably can't put a for sale by owner sign outside. Is the window easily seen from outside so that you could put a sign in it with your phone number? Is there a lot of traffic near the building? Would the association allow it? My suggestions would be to have a great lawyer, do a lot of open houses and use craigslist as well. Good luck!

Hi M..
We sold my husband's condo on our own. We watched alot of HGTV and found ways to make the place look more spacious. We also painted the walls a very neutral color. We put up signs for an open house and we ran an ad in the local paper. We sold pretty quickly. Good luck to you!

I have a friend who listed her condo on Craig's List and it sold that week. Hope that helps!