lake zurich...and beyond

I recently read a blog here on Active Rain and it was a consumer writing about his point of view of Realtors and the process of selling a home. It was very interesting and also nice to know that someone out there recognizes and appreciates the hard work and dedication that we bring to the table during a real estate transaction.

Being a Realtor is unlike a "traditional" job where you put out a definitive work product at the end of every day. Even when you love your job and have a lot of fun doing it, it is still a job, after all.

Having worked in the law profession before becoming a Realtor, I can tell you that it was easier to be a paralegal than it is to be a Realtor (much like it was easier to go to work than be a stay-at-home mom, but that's another story). My hours were regular, and I could count on a paycheck at the end of every week. I had a regular lunch time, and never worked weekends. Now, even though I love what I do, I find myself working much longer (if irregular) hours and there are sometimes months without a paycheck. Yes, months, especially if you work with builders, which I sometimes do.

In terms of commission, it may seem like a lot of money, but when you break it down it looks a little different. Let's say that I list a home and the commission will be $20,000.00 when it sells. Now, let's assume that home takes me 6 months to sell. That's six months of overhead, six months of advertising, six months of showings, mls fees, desk fees, maybe several offer negotiations, inspections, appraisals, paperwork, reporting feedback, etc., etc. How much do you make for 6 months of work? If you make $40,000 per year, you make $20,000 for six months of work. And your pay is guaranteed. If the seller decides to take their home off the market, I get paid nothing. Yet I am still out six months of overhead, six months of advertising, six months of...you get the picture. I don't get paid unless something closes.

I'm not complaining. Do I love my job? Yes I do! I wouldn't trade it for the world. But it's not easy money. I work long hours, but I enjoy every minute. Does that make it less of a job?

Experience comes in many forms, not just years spent selling real estate. Consider that many agents work part time or sell only a few homes per year. Even the most "experienced" agents rarely sell more than 50 or 60 homes per year.

Prior to becoming a real estate agent, I was a real estate paralegal. I closed on average 500 transactions per year. I guarantee that no agent has as much transactional real estate experience as I do. I have more knowledge of the overall real estate process and more experience with issues and problems that can crop up and how to prevent them from derailing your transaction.

In addition to my extensive legal background, I've been actively selling real estate since 2003. I love what I do and I will work hard for you.

I make it my business to know the market and price my client's homes to sell for the most money in the least amount of time...and I'm good at it. If you are buying, I will prepare a market analysis to ensure that you don't overpay for your new home.

If you are considering buying or selling in Lake Zurich, Hawthorn Woods, Deer Park, Kildeer, Long Grove and the surrounding areas, please don't hesitate to contact me! I'll be happy to assist you!

As a consumer in the State of Illinois you should know that there is a website where you can check the status of the license of the real estate professional that you are considering hiring. First, you should check to make sure that the real estate professional has a current, active license. The Division of Professional Regulation for the State of Illinois has a website where you can access this information. Follow this link for License Lookup:

http://www.obrelookupclear.state.il.us/defaultRE.asp?Division=10

Second, you should find out if the agent has been disciplined by the licensing board, and if he or she has been disciplined for whatever reason, you should take the steps to find out the circumstances behind that disciplinary action. Just because an agent has been disciplined does not mean that he or she is not a good agent, it simply means that you should inquire further to know the facts...before you sign on the dotted line. Follow this link to view the disciplines by year:

http://www.idfpr.com/dpr/re/REDISP/REDISC.asp

Although this information is readily available to the general public, most people don't know where to look for it. The main website for the Illinois Department of Financial and Professional Regulation is:

http://www.idfpr.com/

By the way...you can also look up your nurse, doctor, veterinarian...and many other licensed professions! Get the information you need to make an educated decision!

Recently a potential seller said to me "It's obvious that you are very competent at what you do, but I've never hired a woman before..."

This potential seller is a male builder. While he is an experienced investor and has built homes for himself, he is newer at building homes for the general public. He was looking for a new agent to represent him and simply walked into my office one day; we struck up a conversation about new construction, 1031 exchanges, his investments and other real estate related topics. He was impressed enough to request that I tour the home he was building and present my marketing plan to him. So I did.

The home in question had been on the market for more than six months. It was overpriced for the neighborhood, lacked any type of marketing by the previous agent and also lacked aesthetic cohesiveness in terms of construction materials, light fixtures, etc. In short, there were several reasons why the home had not sold. I offered my suggestions as to what would make it more saleable and presented my ideas for marketing.

You should know that I specialize in residential real estate, both resale homes and new construction. I currently work with two custom home builders at this time, selling lots from $250,000.00 and up to luxury new construction homes priced at $1,250,000.00. I'm experienced; I understand new construction and know what buyers are looking for in my market. So I was taken aback.

Once I regained my voice, I replied by saying something to this effect:

"I'm confident that I would do an excellent job marketing and presenting your home for sale, as well as a valuable resource for you as you continue to build and design homes in the future. Whether you hire a man or a woman to market your homes for you, you should knot that single women are buying homes in increasing numbers, and in my experience, women tend to make more of the aesthetic choices when it comes to designing new construction homes. While I don't focus my new construction marketing on targeting women specifically, I can certainly offer a women's perspective when it comes to new construction."

This idea of hiring male vs. female real estate agents, though ridiculous in and of itself as we are all equally competent, got me thinking. Shouldn't we all be more aware of the powerful impact that women have and will continue to have on the real estate market? A recent study by the National Association of Realtors showed that 1.76 million single women, comprising 22 percent of the market, purchased homes in the period from July 2005 to June 2006. Also, savvy builders are focusing more and more on women because:

"Building a home is a major investment. Today, women are much more involved in the entire home construction process," said Linda Reimer, editor and publisher of Her Home magazine. "In fact, women make more than 80% of the home building and buying decisions."

Girls vs. boys? I think not. But never underestimate the power of a woman!