lake zurich...and beyond

Most of you already know that I am no longer a REALTOR®. Since my real estate license is in a holding company (Professional Referrals, Inc.), I am legally unable to practice real estate, even if I wanted to. 

I must say, I am happier than I have been in a long, long time. I knew more than a year ago that I wanted to leave the real estate business but kept at it throughout 2008 anyway. Once the final decision was made and I was able to untangle myself from my client obligations and refer out all of my business, it was a like a weight that was lifted off my shoulders. I could breathe again. 

I had a light bulb moment this weekend. We were with a group of friends, one of which is a dentist. He was talking about how business is down because of the economy, and everyone was sharing their experiences with their dentist (none of which were very positive, I must say). Before long I could see that he was starting to get somewhat defensive about his profession, and frustrated with the fact that nobody likes having to go to the dentist and is so verbal about it. That's when the light bulb went off for me.

When I was a REALTOR®, I often felt like that. Although my own clients appreciated me and were very happy with my services, the general public seems to have an overall distain for real estate agents. There were many times when I felt defensive or frustrated as people either complained about their REALTOR® or the fees they were charged, or about how they felt a real estate agent is unnecessary to the transaction. Real estate agents are often made the butt of jokes or slammed on message boards. They are attacked for what they do, how much they make, called swindlers and listed as one of the least-trusted professions in polls. 

I always hated that. Worst than that, though, was the knowledge that there are many agents out there who are overpaid for what they do, that don't put their client's needs first, that are disciplined by the Board for unethical behavior and still making tons of money off their unsuspecting clients...agents who are completely deserving of being called a swindler and untrustworthy.

The experience of working in real estate allowed me to grow in many ways professionally and also allowed me to see both sides of an industry that is currently in flux. The real estate profession is changing daily and will continue to change as challenges are made to the commission structure and technological advances alter the nature of the job REALTORS® perform. There are many agents that I deeply respect and admire. For their sake, and for the sake of the public, I hope these changes result in higher industry standards and that unethical agents are given more than a slap on the wrist for their misdeeds. I hope that the outcome will be a deeper understanding and respect for the real estate profession. Most of all, I hope that in the future real estate agents are listed as one of the most-trusted professions in polls, and that real estate agents will no longer feel frustrated or defensive about their profession. 

As for myself, I am happy that I am no longer a REALTOR® for many reasons, but I'd really like to be able to someday cross off lack of respect for the profession as one of those reasons.

If you are looking for a good real estate agent, give me a call. As a referral agent (I'm no longer involved in the day to day real estate business), I can help match you with the perfect agent to help you buy or sell your home.

The idea behind the terminology "one click above" is that you make a conscious effort to go above and beyond what others are doing or what is expected of you. It may be the service you provide, your attitude, your work ethic or even how you dress.

Most people, quite honestly, will do what is required of them, but will not go above and beyond to do an exceptional job. Why do extra work if you can get away with doing so much less?

How do you know if you are "one click above?"

In some professions, you might receive written testimonials from your clients. In other professions, you might hear words like this spoken by your clients, boss, friends or colleagues:

...it doesn't necessarily require an extended relationship to recognize a superior professional...

...working with you has been an absolute pleasure...

...it was truly a pleasure to work with you...you were always very professional, knowledgeable...

...without your "above and beyond the call of duty" help our transition would not have been nearly as smooth as it has been...

...thank you not only for a job well done but for making me feel well cared for...

...tireless effort and upbeat attitude...

...from the get-go we felt very confident that you were the right choice for us...

...from beginning to end she made us feel like we were her only client... 

...absolutely amazing

...it was a great pleasure to work with you...

...we feel so thankful to have found you and will recommend your services to anyone...

...we never had to worry if things were moving along or being taken care of...

...her professionalism, knowledge and attention to detail were very reassuring...

...I am confident that the process went so smoothly because of you...

...my highest recommendation...

Do you stand out in the crowd? Do you go all out in the effort you give to a project or task? Do you provide a product or service that is exceptional and different from what is expected? Do you have raving fans?

What do you do that makes you "one click above" the rest? Can you give examples of yourself or other businesses or service providers that are consistently "one click above" everyone else?

As a referral agent (I'm no longer involved in the day to day real estate business), I help match clients with the perfect agent to help them buy or sell their home.

Many traditional real estate companies dictate the marketing plans for the homes they list at the corporate level, allowing for very little flexibility by the agent. This means that they market each and every property identically. 

As a consumer, you may think that this is a good thing. Why should a $500,000 home receive more marketing effort than your $200,000 home? Let me explain why I believe each house is completely and totally unique and should be marketed accordingly. 

Here are some examples of the different types of homes you might run across in the greater Chicagoland area: 

• A pricey urban loft 
• A suburban 4 bedroom, 2-1/2 bath home 
• A cabin in the woods with water rights 
• A condo located in an age restricted (55 & over) community 

As you can see, each of these properties would, generally speaking, appeal to a distinctly different buyer. If the purpose of marketing is to target the potential buyer for the property, how can marketing each and every property the exact same way accomplish this?

In my opinion, it can't.

That's why I recommend that when you are interviewing prospective real estate agents you ask them what their company policy is in terms of marketing properties. Do they market each property the same way? Or is each agent empowered to design a marketing plan as individual and unique as your home? If so, exactly what does that marketing plan entail, and why?

Go ahead; put your prospective agent on the spot! Any good agent should be able to answer this question with a specific plan designed for your home.

Maximum targeted exposure = maximum results. Make sure you choose the right agent to list your home for sale!

If you are looking for a good real estate agent, give me a call. As a referral agent (I'm no longer involved in the day to day real estate business), I can help match you with the perfect agent to help you buy or sell your home.

In today's economic climate, I think many homeowners would say that their homes own them. The inability to sell their home is like a noose around their neck. They feel trapped and unable to move on. They are anchored to a particular home and community which may no longer fit their needs or budget. 

Home ownership is said to be The American Dream. For many, it has become The American Nightmare. 

I remember back to those carefree early days of my marriage before we jumped into home ownership. How easy life was! No yard to mow, snow to shovel, no worries about the roof leaking or basement flooding. No windows to replace, no property taxes to pay, no bushes that need trimming. But of course, like many young couples, we dreamed of owning our own home and were so excited when we were finally able to do so.

After all, there are many benefits to owning your own home. As a young bride, I was focused mostly on being able to paint and decorate to my heart's desire. Beyond this pride of ownership (your home truly is your castle!); there are also considerable tax benefits and the ability to build your own equity instead of paying your landlord's mortgage for him. You also gain a sense of belonging to the community and the security of knowing that you can't be kicked out by a landlord at a moment's notice.

All of this comes at a price, especially in today's market.

Home ownership is, I believe, one of the keys to long term wealth. Generally speaking, it has always been seen as a way to increase your wealth as your home gains value and you build equity. Now is widely regarded as an excellent time to purchase because houses have become more affordable and interest rates are very favorable.

On the other hand, if you aren't careful, you could end up in the same boat as millions of Americans: anchored to your home, unable to sell, owning an asset that is worth less than what you paid for it. In short, you could end up being owned by your home instead of the other way around.

So should you buy your own home or continue to rent?

It all depends on your circumstances. First, you must have a very stable job. You must have a decent down payment. You must purchase in the best location you can afford. You must be willing to stay in the home you purchase for several years...long enough to ride out any additional price declines.

Historically, home values increase over the long term. Indeed, the value of our own house has increased about 20% since 2001...which is much more than we would have earned in the stock market. If the market hadn't declined, it would be worth even more. However, if we had purchased our house in 2007 and tried to sell it in 2008, we would be sitting here with a house worth less than when we purchased it. Timing is everything, isn't it?

Does home ownership still embody The American Dream? I think so. It's not a get-rich-quick strategy (as it perhaps was during the boom years) but it is still a terrific way to build long term financial security and stability. If you are considering purchasing a home in today's market, you must carefully weigh the pros and cons and consider your own personal financial situation. You should enlist the help of a trusted financial advisor, mortgage professional and real estate agent to help you decide if the right time to buy is now. 

Dream big, but be smart. 

If you are looking for a real estate agent and don't know who to trust, give me a call. As a referral agent (I'm no longer involved in the day to day real estate business), I can help match you with the perfect agent to help you buy or sell your home.

I recently read The Last Lecture, by Randy Pausch. In the book Randy discusses various setbacks, or as he likes to call them, brick walls. He never felt that the brick walls were there to stop you in your pursuits, but rather to give you a chance to prove how much you really want something.

When running up against the brick wall of the economy and housing market this year, I used the opportunity to figure out how much (or whether) I really wanted a career in real estate. Others may look at this brick wall as one of the worst things to happen to them and their real estate career, but I looked at this brick wall as a genuine gift. You see, this brick wall enabled me to look at myself objectively and make the decision to begin a new chapter in my life (see A New Chapter Begins...).

Brick walls will happen from time to time. They are there for a reason. Don't let them stop you. Instead, climb over or around them (or smash through them!) in order to get what you want out of life, whatever that may be for you. If you follow your heart, it will tell you which path to take, just as it did for me.

So, looking back over the past year, I'm actually grateful for the brick wall of 2008. It was a difficult year, no doubt about it, but a year of change, growth and emerging opportunity. I intend to make 2009 one of the best years ever. How about you? Any lessons learned?

Live your best life!