They seem to be going up everywhere, "For Sale By Owner". I watch them linger for a while, then a Brokerage sign goes up that I recognize, and I say to myself, "why didn't I market to them if they were going to go on the market anyways?!" The truth of the matter being that very few homes sales do not go through a real estate agent. I am not saying that as wishful thinking, the statistics bear it out, especially in Cities like Chicago.
As a buyer, you might think that you are going to get a better deal if you approach a seller, unrepresented by a Buyer Representative Agent. The National Association of Realtors® studies prove that this is generally not the case. Going into a real-estate transaction unrepresented leaves you vulnerable for many things. What is the definitive going rate for like properties in this area? How do I make sure that I am getting all of the information that I should be on this property? What if something goes wrong, is it going to always cost me attorney fees to have any voice at all? A licensed agent can be very helpful, to both help circumvent a crisis and can be your voice, advocate, and advice giver in time of need. There are no substantial studies that I have seen that show buyers saving substantial amounts by not using the resources of a licensed agent. I have, however, been the recipient of calls by unrepresented buyers' in the middle of a transaction, and recently closed, that has no idea what to do. I do not offer my services during a transaction because I do not wish to put my errors and omissions insurance at risk for a transaction for which I have no direct interest. My advice post closing is limited, only to give enough information to try to gain trust, without having my name surface in some post close lawsuit!
In summary, I try to make sure to reserve my time, energy, and expertise for those who are willing and recognize my value and my help.
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