A Common Chicago Short Sale Marketing Mistake: Not Using the MLS Properly

A Common Chicago Short Sale Marketing Mistake: Not Using the MLS Properly

Posted on August 29th, 2011 in All Articles, Short Selling/Buying.

Chicago IL – This MLS Mistake could cause the right buyer to never look at your home in the first place. The Multiple Listing Service (MLS) is the first place an agent representing a buyer is going to look for homes for sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

(The Multiple Listing Service, which I will call MLS for short, is the database of homes for sale that all realtors in a certain area share.

When an agent has a buyer and their own homes for sale won’t fit that buyer’s needs, then they search the MLS.

If another agent has a home that fits that buyer’s needs, then they can sell the other agent’s listing.)

In today’s market agents have a lot of homes to pick from. Ten, twenty, thirty, and sometimes even a hundred homes fit their buyer’s criteria. But, they will usually only show that buyer 5-7 homes at one time.

If these agents don’t pick your home from their MLS search, then you just missed a potential buyer. Here are a few reasons that certain homes get skipped over in the MLS search.

Reason #1: The main picture of the house is ugly or unattractive. The agents are usually scanning thru lots of listings and don’t have time to look at all the pictures.

If the main picture is unattractive, then they will pass on showing the home.

Reason #2: The property is put into the MLS wrong. For example, many MLSs have a search function for the size of the lot.

The agent puts in 0 acres for the lot size. The house will not show up when an agent searches for a lot size between .5 acres and 1 acre.

Nor will it show up in any other search that has a specific lot size. This might not be a big deal if you don’t have a lot with a bigger than normal yard.

But, I can tell you from specific experience that this will hurt your sale if you have a larger than normal lot. There are many other MLS mistakes, but this is a specific example to show you how it can affect you.

Reason #3: You don’t price your home at $25,000 increments. Most buyers use $25,000 increments when searching online.

For example, they will search for a home priced between $200,000 and $250,000. If your home is priced at $250,000, then it will show up in multiple searches.

A $250,000 home will show up in a search for homes priced $200,000 – $250,000 and a search for homes priced $250,000 – $300,000.

This increases the likelihood of the right buyer seeing your home in the search results and therefore the likelihood of your home selling.

I can help you short sale your property and get back on your feet. Visit www.ShortSaleSuperMan.com for great information and tips on Chicago short sales. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on A Common Chicago Short Sale Marketing Mistake: Not Using the MLS Properly is provided as a courtesy to our viewers to help them make informed decisions.