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As your Chicagoland real estate agent Michael LaFido, I want to be your resource for all things real estate. Whether you are buying, selling, or investing in real estate, I am here to guide you through the process. Subscribe to this blog to learn all of the latest news from our local market and receive expert tips for buying or selling a home.

Listing with a Friend Could Cost You Big

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When you're going to sell a home, do you hire a friend, or make the best business decision? For many homeowners, this is a more difficult question than it should be. I often get calls from people who had their home listed with a close friend or relative and they failed to get it sold. Essentially, they were calling me in to clean up the mess.

Your house is your biggest asset - it's the thing you own with either the most equity or most debt. There are multiple downsides to listing with a friend or family member. For one, you have to tell them why you're selling. It's usually difficult for them to tell you that your wallpaper has to go, or that your house smells too much like pet odors and something needs to be done about it. 

Having a neutral third party come in is hugely beneficial. I'll come to your property and tell you, using market research, how you can position your home more effectively. Last year, 51% of homes failed to sell the first time around, and that percentage is even greater for high-end homes. It's not as simple as price, location, and condition - you need a marketing expert who can get your home more exposure.

There are six types of agents out there, the most common of which is Patty Part-Time. She doesn't focus on real estate, doesn't do it as a full-time position, and isn't aware of the latest trends in the industry. Another type of agent is Debbie Dinosaur, who has been in the industry for 30+ years and lacks the know-how of younger agents. The next most popular agent is the Chatty Cathy, gossipers and talkers who talk more than they act. Next, there's the Newbie Nathan, who is freshly out of real estate school, but lacks the experience to make things happen. There's also Analytical Alex, who is great with spreadsheets and numbers, but isn't very personable. Lastly, Marketer Matthew, making up about 5% of the agents, is someone who thinks proven systems and marketing are the keys to getting the best results in real estate transactions.

If you have any questions about the different types of agents out there, or would like to interview us to see if we're the right fit for you and your family, don't hesitate to give me a call or send me an email. I would love to show you what we can do.

Thanks, and have a great day!

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