The Chicago area is bustling, and in some cases, full of great listings for buyers – if you know where, and more importantly, how, to look. In those neighborhoods where inventory is frustratingly low, there are additional resources you may not have considered.
In our experience, it’s extremely important for buyers and sellers to bring an experienced, savvy real estate agent on board early in the process; having a serious agent on your team will open up all sorts of opportunities, including quicker access to the greatest listings that Chicagoland has to offer.
As a buyer, having a real estate professional on your side will help you navigate the market more confidently, save you money in negotiations, and free up your time to really focus on finding your ideal dream home.
And there’s one more big reason: Access.
What do we mean? Here are two major advantages that a real estate agent’s unique access offers to you as a buyer:
1.) Your Real Estate Agent Has Access to MLS and the Private Listing Network
In our world, MLS doesn’t refer to “Major League Soccer.” Instead, the MLS (Multiple Listing Service) is the hub of housing data for real estate agents across the country. The MLS, the “Zillow of the World,” allows subscribing real estate agents access to absolutely all houses available on the market at a given time, as well of the data acquired on those houses and the neighborhoods around them.
One very new, and invaluable resource of the MLS, is the Private Listing Network (PLN) which houses homes (see what we did there?) that either have not yet come on the broader market (i.e. the MLS and the downstream resources like Zillow), or do not plan to come on the broader market (as in the case with our awesome listing at 2028 N Cleveland.)
So, besides being merely beneficial to buyers (and sellers, for that matter), why is MLS a must-have? In our experience, the best opportunities are often ones that sell within 24 hours on MLS. It takes 24 to 48 hours for listings to go from the broker's source to the MLS. Recently, we saw a home that received 14 offers in the first 36 hours and it was on MLS. It took 10 days before the home showed up on Zillow, putting searchers without an agent at a colossal disadvantage.
2. Broker to Broker Relationships
Chicago is a close-knit city, particularly for those of us in the real estate industry.
The fact is that brokers know each other well, since they spend 365 days a year selling real estate amongst one another. And while brokers compete against one another, they also look out for one another, which means that brokers often have access to the very-latest listings, or an inside edge on a close negotiation, that an unrepresented buyer would never have.
Fortunately, partnering with Real Group is a great way to make sure you get all of the advantages of having an experienced Chicagoland real estate team in your corner. Whether you’re looking to buy or sell property in Chicago, our talented agents are here to help make the process as seamless, positive, and cost-effective as possible, every step of the way. Why not browse some of our listings or drop us a line when you’re ready to get started!
