Chicago’s neighborhoods are as unique and diverse as those who inhabit them. The city’s real estate market is also as diverse as its residents. In Chicago, studio condos start at $120,000; while full amenity high-rise properties with breathtaking views, spacious townhouses and popular urban lofts range from $150,000 to the millions. Housing prices range from $95,000 to more than $1 million, with an average home cost of $183,800. The fierce competition in the Chicago real estate market makes it increasingly difficult to find the right buyers for properties within the expected time. But MLS listing has considerably improved the scenario by providing greater market exposure for properties on sale and direct online access to properties for customers.

Before MLS was widely accepted, home sellers had two options once they made up their mind to sell their property:

1. List the property with a traditional real estate company and pay 6–7% commission.

2. Try selling the property themselves ‘for sale by owner’ (FSBO).

There are many people who refuse to use realtors because of the 6-7% commissions, but are more than willing to pay the 3% MLS listing fee. Research shows that nearly 50% of all home sellers start out trying to sell their property on their own. Although some owners are successful with FSBO, only 16% of sellers actually sell their home without exposure to MLS.

Today internet research is a vital tool for many people looking to sell their house or buy a house in Chicago. Most of them have placed their properties on MLSs to ensure maximum marketing exposure. As far as real estate agents are concerned, they encourage the MLS practice as this provides an opportunity to increase revenue by listing more homes. With the increase of internet marketing, realtors can reach out to more people by offering to just list the house on the MLS. This allows them to list properties in a larger area and in some cases in other states too.

More info on mLS http://mlstown.com

About The Author:


Nicholas Andrew

I am a amateur realtor doing business mostly by listing with MLS.
http://multiplelistingservice-us.blogspot.com