Real Estate Marketing & Beyond
Disgraced ex-governor Rod Blagojevich to sell his home - courtesy of jburwen @ Flickr.com
The vintage Chicago home of disgraced ex-Illinois governor Rod Blagojevich has been put on the market for-sale-by-owner at a price of $1.07 million.
The former governor, who earlier this year was convicted of trying to trade or sell the former senate seat of President Barack Obama and 16 other corruption charges, had earlier been order to use the home as collateral for his bail bond. However, the ex-governor has decided to list the home for sale instead, through his real estate broker wife Patti’s River Realty business.
Critics however, have said that the decision by the state’s former first lady to sell the home herself is a huge mistake, and that the home has been significantly over-priced.
Pricing the home at just over the $1 million mark is usually a bad move, Pamela Ball of Baird & Warner told AOL News. She says that although plenty of people look for homes up to $1 million in value, less people look at properties for more than that value, while many will also be put off by the thought that they couldn’t possibly afford to buy the Blagojevich’s home.
Meanwhile, Eric Rojas of the Prudential Rubloff Properties firm added that the move by Patti to sell the home herself was a bad decision:
“As a real estate broker, I wouldn't have listed the house myself, especially in their situation. When I sold my own home, I was the listing agent but my partner did the showings. I never talked to the buyers, and I think it should be more arm's-length."
Patti Blagojevich was quick to defend her decision however. When asked for her reasoning behind selling the home herself, she said that she would do it differently if the situation was different, but she knew the home better than anyone.
Sellers are always thinking their home is much better or worth more money than everyone else's. There is no exception to Patti Blagojevich acting on her own behalf selling their Chicago Apartment. Rod Blagojevich may just get what he is asking for otherwise, My Chinese Cash buyers may make them an offer. We'll give her 30 days to prove herself before she calls me.