ELV!S

I live and work in Evanston, the first northern suburb along the lakefront from Chicago.

I think Evanston is a wonderful community. A nice blend of city & suburb. We have an active, thriving downtown, with many shops and restaurants. Plenty of beaches and parks, access to everything through the EL and Metra, as well as a quick hop to major highways.

Near enough to Chicago for theatre, museums and major events (such as Taste of Chicago, etc...) and yet far enough to feel suburban. We have a wonderful cultural diversity and plenty of home-spun activities like our recent downtown Arts Fair, and yesterday's 4th of July parade (one of the largest in Illinois) and subsequent fireworks display.

Evanston is also home to Northwestern University which brings an excitement and vitality to our already wonderful community.

I vote for Evanston. And, sorry Lynn, it's not a violation of the code of ethics to say so. - A few hours ago

Elvis: I'm not sure you are fully accurate in your statement that if there is a differential in split is "has" to be listed as such in the MLS.
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Tina, in our MLS in Northern Illinois (I admit, it may vary MLS to MLS, and region to region), if you're offering a "variable" commission as a co-op fee (ie: 2.5% to outside agencies, but 3% to an inside office... or 2.5% to outside agencies, but if you "dual agent" the deal, you'll cut the seller's fee by 1%) you have to notify any potential agent / agency that they may not be playing on a level playing field. - Thu Jul 3 2008, 12:16

than answer varies brokerage to brokerage. some offer higher splits if someone sells an in house listing.
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If they do, they have to advertise the fact (in the MLS) that they offer a 'preferential discount commission' to in-house deals, which might easily keep other offers from materializing.

If I, as an "outside of the office" Realtor, have a client who might be interested in that property, why would I recommend they bring an offer to that house, when I know that the listing agent can undercut our offer with an in-house agent? - Tue Jul 1 2008, 20:05

The split would be handled the same as if the buyer's agent were in a different office. The co-brokerage amount is advertised in the MLS, and that's what's payable regardless of who sells it.

The percentage of that split would be based on the exclusive marketing agreement with the seller, and the brokerage firm's policies. - Tue Jul 1 2008, 15:14

the Northwestern study showed that in Madison, Wisconsin, that listing FSBO proved to be equal or better than using a Realtor, as far as the purchase price. But that listing with a Realtor would likely result in a quicker sale, and the study does not take into account any "carrying costs".

What they don't mention is that Madison has a unique, FSBO site, and a history of selling their homes hand-to-hand without Realtors. So the FSBOMadison.com website is the first place that any local homeowner goes, when buying or selling a home in the area.

This is a unique set up, and the results do not transfer to the balance of the country. Realtor.com, Zillow, Trulia are national sites, and buyers and sellers are not yet accustomed to looking for listings/sales on those sites. That may well change in the future, but for the moment, it's not there.

If you're comfortable listing by-owner, there are plenty of websites that will list you on the local MLS for very reasonable rates, and you can show your own home, negotiate your own contract, and handle the paperwork (hire a RE attorney, if necessary). If you feel confident in handling all of those aspects, then yes, FSBO is a viable option for you. - Thu Jul 3 2008, 08:01

It "could" actually be considered libel (slander is spoken, libel is written) if it could be proven that the sole intent was to damage the Realtor's career. - Thu Jul 3 2008, 07:40

Iggy's house was the listing side.... the buyer's side (buyside realty) seems to be down too.... I assume the company went bust?? - Tue Jul 1 2008, 20:57