The 3 Ways to Sell a House in Chicago
Most sellers think they have two choices: hire a traditional agent and pay full commission, or sell it themselves to save on the commission. That has never been the real choice, and after the 2024 NAR settlement it is even less true.
Chicago sellers have five options: a traditional listing agent, who has traditionally charged 2 to 3 percent of the sale price to list, a low-commission or flat-fee broker such as Net Gain Realty at a flat $1,995 for full service, an entry-only flat-fee MLS listing for $99 to $495, selling it yourself (FSBO), or selling directly to a cash buyer or iBuyer. I believe those five collapse into three real choices for a seller whose goal is the most money. This page walks through both: the full menu first, then the three-way decision.
Every option Chicago sellers are shown
The national sites all teach the same menu: agent, cash buyer, FSBO, flat-fee MLS, low-commission broker. Here is the honest version of all five, with what each costs and who it fits.
| Option | Cost to sell this way | Who does the work | Fits |
|---|---|---|---|
| Traditional listing agent | Traditionally 2 to 3% of the sale price as a listing fee (about $12,500 to $15,000 on a $500,000 home) | The agent | A seller comfortable paying a percentage for full service |
| Low-commission / flat-fee broker (Net Gain Realty) | A flat $1,995 listing fee, full service | Net Gain does | A seller who wants full representation without the percentage |
| Entry-only flat-fee MLS | $99 to $495 upfront | You do | A confident seller who only needs the MLS exposure |
| FSBO (for sale by owner) | No listing fee; your time and your risk | You do | A seller who wants to run the whole sale |
| Cash buyer / iBuyer | No listing fee; offers on homes that need work typically run near 70% of after-repair value | The buyer, direct sale | An inherited or distressed home, or a seller who needs a fast, certain close |
Chicago market snapshot: Illinois Realtors reported a median sale price of $420,000 for the city of Chicago in May 2026, up 7.7 percent from May 2025. Whatever option you pick, that is the market it happens in.
The cash buyer option is real, and for some homes it is the right one. A cash buyer or iBuyer (a company that buys homes directly, often with an instant online offer) is the fastest of the five and the only one with no showings. The trade is price: offers on homes that need work typically run near 70 percent of after-repair value, meaning the price the home would bring once fixed up, minus repair costs. I believe it fits an inherited home, a home that needs major repairs, or a seller who values a certain close over the last dollar. For a seller whose goal is the most money, the open market is where buyer demand, the supply of similar homes, and days-to-contract set the price, and reaching the open market requires a listing.
“Low-commission broker” is the name national sites use for any brokerage that lists your home for less than the traditional 2 to 3 percent listing fee. Some versions cut the percentage to 1 or 1.5 percent, and the best flat-fee brokers in Chicago range from MLS-only listings to full service. Net Gain Realty is the flat-fee version of this option: full representation, professional photography, pricing built from local comparable sales, negotiation, and closing support, all for a flat $1,995 instead of any percentage. We call that full-service flat fee.
Three of these five, the traditional agent, the do-it-yourself routes, and the full-service flat fee, are the real decision for a seller listing on the open market. That is the three-way choice the rest of this page compares.
Your three options at a glance
| Traditional listing agent | FSBO / MLS-only | Full-service flat fee (Net Gain Realty) | |
|---|---|---|---|
| Listing fee | 2 to 3% of the sale price (about $12,500 to $15,000 on a $500,000 home) | $99 to $495 upfront | A flat $1,995 |
| Service level | Full service | Listing only | Full service |
| Who handles pricing, photos, negotiation, closing | The agent | You do | Net Gain does |
| On the MLS | Yes | Yes | Yes |
| Buyer’s agent compensation | Negotiated separately since the NAR settlement. The same choice for all three. | Same | Same |
| Best for | A seller fine with paying a percentage to list | A confident seller who wants to run the whole sale | A seller who wants full service without the percentage |
Who pays the buyer’s agent commission is its own decision now, and it is the same decision no matter how you list. So the honest number to compare across these three is the listing fee, and a Chicago seller net sheet shows what that fee does to your bottom line at closing.
What the NAR settlement changed
Since August 2024, sellers are no longer expected to automatically pay the buyer’s agent. That compensation is negotiated separately and is a choice rather than a default. It is the same choice across all three options, so it is not what separates them. For the full breakdown, see the NAR settlement explained and what commission costs in Chicago.
Why the listing fee is the number that matters
Traditionally, a listing agent has charged 2 to 3 percent of the sale price to list and represent you; that percentage is the core of how realtors get paid in Chicago. No two home sales are the same. Every home is different, and so is every market, and the work is real: pricing, photography, marketing, negotiation, and the paperwork through closing. That work varies with the home and the deal, not with the price tag. A hard sale on a modest home can take more work than an easy sale on an expensive one, yet a percentage charges the expensive home more every time. A flat fee prices the work for what it is.
That is why full-service flat fee is the logical option, not the cheap one. You are not cutting service to save money. You are paying a fair fixed price for the full listing service instead of a percentage that grows with your home’s value. The fee-to-equity ratio shows what that percentage really costs measured against the equity you keep.
For the full cost comparison at every price point, see flat fee vs commission.
Run the Numbers on Your Home
Enter your home price and compare estimated net proceeds under a percentage listing fee and a flat fee, including transfer taxes, title insurance, and attorney fees.
Calculate Your Net Proceeds →Which of the three fits you
A traditional listing agent fits a seller who wants full service and is comfortable paying 2 to 3 percent to get it.
A FSBO or MLS-only listing fits a confident seller who wants to handle pricing, showings, negotiation, and paperwork themselves. The upfront cost is low, but the work and the risk are yours. The cheapest way to sell a house in Chicago ranks every option by what it actually costs.
A full-service flat fee fits the seller who wants everything a traditional listing agent provides, full representation and full MLS exposure, without the percentage. For most sellers who want full service, it is the logical default.
What a flat fee does not change
The market still sets your price. Location, the supply of similar homes, buyer demand, and how fast homes are going under contract in your neighborhood drive the result, the same as they would with any agent. A flat fee changes what you pay to list and be represented. It does not change what your home is worth.
How Net Gain Realty does it
Net Gain Realty is a full-service flat-fee brokerage serving the Chicago metro. For a flat $1,995 you get the listing on the MLS, professional photography, a pricing analysis built from local comparable sales, negotiation, and support through closing. It is the same listing-side service a traditional agent provides, priced as a flat fee instead of 2 to 3 percent.
This is not an entry-only MLS listing for $95 to $399, where pricing, showings, negotiation, and closing are left to you. It is full representation by a licensed broker at a fixed price.
FAQs
What are my options for selling a house in Chicago?
Chicago sellers have five options: a traditional listing agent, who has traditionally charged 2 to 3 percent of the sale price to list, a low-commission or flat-fee broker, an entry-only flat-fee MLS listing for $99 to $495, selling it yourself (FSBO), or a cash buyer or iBuyer. Net Gain Realty is the full-service flat-fee broker option, with full representation for a flat $1,995 listing fee.
What is full-service flat fee real estate?
It is a brokerage that provides the same services as a traditional listing agent, including MLS listing, photography, pricing, negotiation, and closing support, for a fixed fee instead of a percentage of the sale price. It is not an entry-only MLS listing. Net Gain Realty does this for a flat $1,995 in the Chicago metro.
Is a full-service flat-fee broker worth it?
It is worth it if you want the full service of a traditional listing agent without paying 2 to 3 percent to get it. You keep full representation and full MLS exposure and replace the percentage with a fixed fee. At Net Gain Realty that fixed fee is a flat $1,995. You are not giving up service, only the percentage. It is the logical option rather than the cheap one.
Do I still pay the buyer’s agent in Illinois?
Not automatically. Since the 2024 NAR settlement, the buyer’s agent compensation is negotiated separately and is a choice rather than a default. You can still offer it to attract buyers, but it is no longer assumed. This decision is the same no matter which of the three ways you choose to list.
What is the cheapest way to sell a house in Chicago without losing full service?
A full-service flat-fee brokerage. A FSBO or MLS-only listing is cheaper upfront but you give up the service and do the work yourself. A traditional agent keeps the service but charges 2 to 3 percent. A full-service flat fee keeps the service and replaces the percentage with a fixed fee.
What is a low-commission real estate broker in Chicago?
A low-commission broker lists your home for less than the traditional 2 to 3 percent listing fee. Some cut the percentage to 1 or 1.5 percent, and some replace it with a flat fee. Net Gain Realty is the full-service flat-fee version in the Chicago metro: full representation and full MLS exposure for a flat $1,995 listing fee.
Should I sell to a cash buyer or iBuyer in Chicago?
It fits when a fast, certain close matters more than price: an inherited home, a home that needs major repairs, or a move that cannot wait. Offers on homes that need work typically run near 70 percent of after-repair value, meaning the price the home would bring once fixed up, minus repair costs. For a seller whose goal is the most money, I believe a listing on the open market, where buyer demand, the supply of similar homes, and days-to-contract set the price, is the stronger path.
Commission rates are not set by law, vary by brokerage, and are fully negotiable. Figures are estimates based on a 2.5% traditional listing fee comparison, not guarantees. Buyer agent compensation is separate and decided by the seller. Net Gain Realty charges a flat fee of $1,995 for full-service listings.
Ready to keep more of your equity?
Full service. Flat fee. You do the math.
Same MLS exposure. Same professional photography. Same expert negotiation. The only difference is how much you keep.