Q: How have sites like Zillow, Trulia and Realtor.com changedthe relationship between buyers and their real estate broker?
A: The role of a real estate agent has changed quite a bit in recent years. Before, property listings and details were only available through a broker using the Multiple Listing Service (MLS). Now, everything is syndicated on several real estate websites and widely available to the general public.
Most buyers today do a lot of research on their own before they ever contact a realtor, which I think is a positive thing because you get a better-informed buyer who has a good idea of what they’re looking for and what’s out there. Then it’s our job to further educate our clients and help them navigate through the challenges of this market.
Q: Why should people buy vs. renting right now?
A: 1.) To take advantage of low housing prices and historically low interest rates, both of which will be going up in the near future.
2.) The tax deduction for your primary residence. A lot of younger people don’t realize how much money they can be saving that way. 
3.) Rents in Chicago are at historically high marks right now versus the lower cost of current property.
4.) I still feel like real estate is a great investment you can benefit from the rest of your life.
Q: Why do you think prices are staying relatively low?
A: Overall, there is still some apprehension on the part of the banks and the part of the appraisers. Prices aren’t going to be rocketing up unnaturally like they did before. It’s a healthier, more stable market now, and I anticipate seeing a more gradual increase over a longer period of time.
Reach Adam at 773-770-8022 or at Sales@DomainRealtyOnline.com
Photo source: VReinvest