Making the decision to sell by owner in the state of Illinois means you avoid paying any realtor fees in Illinois. It also means that you’re in complete control of the pricing, showing, and selling negotiations. You’re free to create your own schedule and showcase your property however you see fit. However, selling a home can be both complex and time consuming. Listing a home for sale by owner means that you are responsible for pricing, negotiations, house showings, and the resolution of any complications along the way. This article will provide step by step instructions for selling by owner in Illinois, including how to use a flat fee real estate Illinois residential MLS listing service as well as a flat rate MLS for sale by owner service.  

how to sell by owner in illinois

Prepare Your Home for Sale

The first thing to do when selling your property by owner in Illinois is to prepare the house itself. Consider making small upgrades and minor repairs to make your home as nice as possible. Home upgrades can increase the value of your home and make it more enticing for prospective buyers. 

Next, you need to take professional photos of your home for your listing. Make sure you have your house thoroughly cleaned before photographing. Consider staging your home with optimal furniture, lighting, and decor to make the rooms look open and inviting. 

Determine Your Price 

Now it’s time to pick your price. This is a tricky step that carries a lot of weight in the selling process. If you price your property too low, you might lose out on money. However, if you price it too high, the selling process might stall, forcing you to make a big price drop that might make prospective buyers question the integrity of the home. 

So, how do you accurately assess the value of your home so you are guaranteed the best rate? If you’re a seller, it’s a good idea to start looking at comparable property listings in your area and see how they are priced. By comparing their features, cost, and value with your home, you’ll start to get an idea for the current market value. You can also request a pre-sale appraisal to receive a more accurate ballpark for your property’s value. 

While the Illinois seller’s market has gone down this year, there are a few ways to take advantage of the system. With less home sales happening, this means you have less property competition. This also means it might be the best time to save thousands in realtor fees by listing your home yourself.

List Your Home 

After finalizing your price, you need to list your home using a Flat Fee Real Estate Illinois Residential MLS Listing Service. The best way to list your home is on the MLS, or Multiple Listing Service. This local listing service has the widest reach of buyers, making it the best option. However, because only agents are able to list on the MLS, you will need to work with an agent using a flat fee MLS company. This company will charge a one-time payment for listing your home on the MLS. 

The best part of using a flat rate MLS for sale by owner service is that the control remains with the seller. Depending on which package you choose, you can be as involved as you like with the marketing process. This means you will pay for the services that you want, and won’t pay for the services that you don’t want, which might happen in some full-service real estate relationships. 

Show Your Home

After successfully posting your property, you will be in charge of coordinating showings, communicating with interested buyers, and negotiating the offers. Because you are choosing sale by owner, you have the freedom to create your own schedule for showings that works best for your lifestyle and routine. However, it’s always a good idea to be flexible to encourage prospective buyers

Negotiate the Best Offer

Once you have found a good offer, you can begin the negotiations process with the buyer or their agent. When you have reached an agreement of terms, you’ll need to draw up a contract. Because the seller’s agent typically writes this contract, you will need to create a contract yourself or with the help of a real estate lawyer. It’s always a good idea to get a second opinion on anything legally binding, as any errors or open-ended language could lead to legal disagreements in the future. 

Closing: The Last Step  

Closing is the last and final step of the real estate process, meaning that the title of your property is now officially in the name of the new buyer. In this step, it’s important to ensure that you have all of the necessary paperwork and forms completed. Working with a title company can help simplify the process. 

Make Flat Rate MLS Sale by Owner Easy

Selling by owner isn’t for everyone, but it can create a lot of flexibility in the selling process. It also is a great opportunity to save money on expensive realtor fees. By choosing the amount of support you need in a Flat Fee Real Estate Illinois Residential MLS Listing Service, you are able to elect the amount of work you need done by a third party. This allows you to focus on marketing, showing, and closing while your agent monitors the flat fee MLS listing.  

Prello Realty makes buying a flat rate MLS easy and efficient. We offer powerful MLS marketing reach with an affordable one-time fee. Choose one of our three tiered plans to pick the one that meets your unique marketing needs. We work with each seller’s individual needs so they receive the level of support and guidance they prefer. Because we are local and family owned, we have an intrinsic understanding of the local market and all of the nuances that go with selling in Illinois. Let us show you how to sell by owner in Illinois today.