Suburban Chicago Real Estate Blog - Judi Bryan, Broker, ACRE Consultant

A letter for your broken heart...

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Tue, 25 Aug 2009 19:11:02 -0500

"Stick and stones can break my bones, but words can never hurt me!" In reading this letter by a colleague from Kansas City, those words seem to ring hollow to me. Words matter. They have the power to wound...they have the power to heal.

I'm passing this along in hopes this letter can touch your heart as it did mine....whether you're a Mom aching for your child; whether you yourself may be feeling lost, betrayed, unworthy; whether you might be someone who has yourself teased and taunted someone else because "they're just words". I hope you'll "hear" Stephanie's message....these are word of the "healing" kind.

Via Stephanie Jarman Realtor® Kansas City Homes and Land for Sale (Realty Executives):

This weekend, I heard some heartbreaking news. My friends' 17-year-old son took his own life after a series of cruel and malicious hazing incidents surrounding his football team. In Dakota's memory, and the memory of my two other friends who have taken their own lives, I am writing what I wish they could have known before they made that decision.

Dear friend,

I wish someone had told me this, when I was young. I'll tell you now, so you can learn what all "grown-ups" know: Who you are in High School is so little of who you are in life. Everything about that microcosm of life is an illusion. Don't buy into it! Anyone who is cruel and heartless to you now is of no value in your future. Imagine, for a moment, that this is as good as it gets for their life. In fact, they will probably soon be back to living with their parents!

The people you will remember are those that were kind to you when times were tough. Those who make you laugh. Invest your time in those people--surround yourselves with them. Block out the noise made by people with no other outlet for their heartache than to inflict pain on other people. Someday, they'll be serving you hamburgers through a little glass window.

I wish I could tell you that your worst day when you are 17 pales in comparison to the joy and delight the rest of your life holds. As awful as it seems on a really bad day, you are just beginning to see the fabulous gifts you hold--and what amazing things the future holds for you.

I wish you knew that even when you have made really horrible choices, your life has infinite value. You are unique, wonderfully made, and impossible to duplicate. You are forgiven, chosen by God's grace, and held as a precious gem in His hands.

Your life, your presence, makes your parents marvel at their incredible good fortune to have had a hand in your making. From your first moments on earth, they could never have imagined what an incredible gift your life has been in shaping their life. Your grandparents cannot describe how proud they are of you--and of the legacy you help them leave behind.

Your friends cannot imagine a day without your laughter and smile.

Even in the hardest times, the core of you is stronger than anything you are facing. Your life, your spirit, and your future are wondrous and incredible in ways that cannot even be spoken.

There is a life ahead for you filled with joy and love beyond your ability to understand right now.

You need only wake up tomorrow and see beyond these tears to the possibility of a future beyond all your dreams.

And finally...

I wish I knew you needed this letter before you left. Every day, in a thousand ways, you are achingly missed.

136 Michigan Avenue, ALL BRICK RANCH in Addison

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Fri, 12 Jun 2009 21:43:54 -0500

Judi Bryan | Executive Realty Group | 630-605-8902

136 S Michigan, Addison, IL

Quality Constructed All Brick Home with Hardwood Flooring and Full
Finished Basement

3BR/2BA Single Family Home

Offered at $184,900

Year Built	1954
Sq Footage	1111 + Finished Basement
Bedrooms	3
Bathrooms	2 full baths
Floors	1
Parking	1 Car garage
Lot Size	7,150 sqft

DESCRIPTION

This all brick ranch has been home to many happy memories. Over the years, as family has grown, some of the rooms have changed functions, which has worked out beautifully. For example, because of the large, eat-in kitchen, when kids were younger, there was no desire for a "formal" dining room. However, as people moved out and bedrooms remained unused, one of them became a fabulous Formal Dining Room. Another bedroom became a TV Room/Den.

Now, this quality home is looking for someone new to enjoy it, and make brand new memories. Take a look for yourself...I'd love to show you around and see if this might be just the perfect home for you!!!

VIEW FROM THE STREET

see additional photos below

ADDITIONAL LINKS:

PROPERTY FEATURES

* Central A/C	* Refrigerator	* Hardwood Flooring
* Forced Air/Gas Heat	* Full Finished Basement	* Washer / Dryer
* Microwave	* Laundry Room	* Dishwasher
* Dryer	* Gas Range	* Yard

OTHER SPECIAL FEATURES

* Walk to Playground

* Walk to Grade School

* Just Minutes to Shopping Center

* Minutes from Expressway

ADDITIONAL PHOTOS

LIVING ROOM

DINING ROOM

EAT-IN KITCHEN

MASTER BEDROOM

LARGE FINISHED BASEMENT

REAR YARD WITH COVERED PATIO

Contact info:

Judi Bryan, Broker

630-605-8902 for information

Executive Realty Group

Equal Opportunity in Housing

Information contained herein deemed reliable, but should be confirmed by any and all interested parties

"Recompiled Market Value" .... HUH???? Still ANOTHER Version of VALUE???

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Fri, 12 Jun 2009 01:08:30 -0500

Must admit, this was a new one. In the midst of following up on the status of "short sale" I have in progress, I was informed by the bank that they were still waiting for some "internal documentation". Hmmm...I wondered. Didn't they feel they had enough by now? After all, I'd sent them 167 PAGES of all sorts of documentation! Everything from soup to nuts (SPEAKING OF NUTS!!!!!....) At any rate,I kept my cool and politely asked "could you be more specific...I want to be sure I understand where we are in the process". At first my contact said "well it appears we're still waiting for the BPO". I said that sounded very strange since I'd met the agent at the property so she could do her BPO over 3 WEEKS ago. My contact politely apologized and said "yes, I'm sorry, the BPO actually IS in the system. What we're waiting on now is RMV". HUH???? "What on earth is that?" I asked (I should have known better!) She tells me "why that's our recompiled market value".

Recompiled? Did they not like the way it was compiled in the first place? Was the appraisal not sufficient? Or the exhaustive CMA...all 31 pages of it? I suppose I should be greatful they don't rely on the tax assessors "value"....out Short Sale contract would NEVER get approved. Oh, if ONLY....could we maybe get that tax assessor to buy the house??? If they did, we wouldn't NEED to do a short sale!

Now, I'm not a stranger to this idea of conflicting versions of "value". I wrote about it at some length some months ago in In the Eye of the Beholder. What a buyer thinks, what an appraiser thinks, what a lender thinks, etc., are all rather subjective, shaded by each party's particular needs and motivation. What has me dumfounded, though, is how adding yet another layer of opinion is likely to solve anything at all? Who has the "right" answer anyway?

Maybe this is why these Short Sales are taking so long to get processed ... apparently the banks don't believe their appraisers, or their BPO agents, and they most certainly don't believed the detailed CMA from a listing agent! So, in their infinite wisdom they've decided to have SOMEONE ELSE (or is it SOMETHING else ... perhaps a series of algorhythms applied to the already massive amount of accumulated data) make that determination so they can "decide" whether to run with the contract on the table. It's not enough that the home was on the market for 18 months. It's not enough that there were 6 offers on the table. It's not enough that each of those buyers was bidding against other offers and was told to bring "highest and best". Wouldn't you THINK there was a message in there somewhere???

What's in YOUR Cell Phone Bill? ....PLUS...FACEBOOK WARNING!!!!!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sat, 25 Apr 2009 09:14:44 -0500

Many of us are paying a lot more attention to the details lately, and in an effort to reduce some of my expenses I modified my cell phone plan last month. Today I received an email that my bill was available online so I logged into my account, excited to see how much my bill (normally about $120 per month) had been lowered. When I clicked on the "view my bill" link, the new bill was over $129!!!!! My minutes were well within my plan, so, no, I had not gone over my minutes. So, why was my bill so high???

As I reviewed the details of the bill, something REALLY STOOD OUT....MONTHLY SUBSCRIPTIONS! A charge of $54.96 added to my bill.

HUH?????!!!!

	Subscription Name	Code	Provider	Renew	Charge
03/29/2009	Flycell Downloads	69999	Flycell	04/29/2009	19.99
04/12/2009	Mobile Messeng:40544#11712	n/a	m-Qube Inc.	05/12/2009	9.99
04/12/2009	Digital Content	77888	PlayPhone Inc.	05/12/2009	14.99
04/12/2009	Mobile Messeng:86455#4658	n/a	m-Qube Inc.	05/12/2009	9.99

The first thing I did was call my carrier, AT&T to ask about it. I told the representative that I'm seeing charges for things I never ordered, and the representative said they always send you a text message with their "offer". I admitted I had seen some advertising messages (which I'd never gotten before, to my knowledge) over the past few weeks, but I figured it was some sort of spam and deleted them.

GUESS WHAT FOLKS ...
If you do not PRO-ACTIVELY "REFUSE" THEIR OFFER
THEY ASSUME YOU'VE ACCEPTED IT!
.... AND THEY WILL BILL YOU ... MONTHLY!!!!

AT&T did tell me they would remove the charges, they've registered my "dispute", and they've placed a BLOCK on my account so this sort of thing won't happen again. He then sent me an email with a special "pin" number on it, so there was something I actually WANTED to purchase online, I'd simply add my 4 digit pin to "authorize" the purchase / subscription! He also told me that he gets 20-25 calls JUST LIKE MINE every day!!!! Many people, because they are tightening their belts with this enconomy, are just noticing these charges (because they just started WATCHING their bills), and discovered that they've been paying for these "services" for many months and didn't realize it! Thankfully, I'm not one of those! Something else though that I noticed was that there additional charges...small...amounting to just $5.22 total that were "data transfer" charges also having to do with those "subscriptions". AT&T kindly reversed those charges as well!

SO, NOW, WHAT'S IN YOUR CELL PHONE BILL!

UPDATE...

I just saw a post on one of the message boards:

"I participated in an IQ quiz on Facebook. In order to receive my score, I entered my cell phone number. I was unaware of signing up for this service. There was no phone number listed for the company on my bill and the AT&T service person was able to reverse it. She says that Qube is a partner company. I don't like their "sign-up" tactics."

I also took that Facebook quiz! And guess what...because of the way the results DID NOT appear on my Facebook page, I thought I did something wrong...so I retook it...3 times!!!! Seems to me THAT SAYS IT ALL about MY IQ!!!! ROTFLMAO!!!! Boy, do I feel ignorant now!!!

GUESS I NEED TO TWEET THIS, FACEBOOK THIS, LINKED-IN THIS, ETC.!!!!

MYTH-information - Competition for Finding a House is Great for Buyers!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Thu, 01 Jan 2009 18:29:29 -0600

It "sounds" logical, right? If you're a buyer looking for a home, why not do your own shopping (properties abound on the web - listed properties, By Owner properties, New Construction! There's virtually no end to the choices. And you can talk to some agents, too, have them do some of the leg-work for you. After all, they likely know more about the areas or the floorplans, so if you get their help you might even do better, right?

You've heard it all before - "two heads are better than one" (so four or five must be even better, right?). Buyers frequently say things like "I want to do some of my own looking, but if you find me a house first, you'll get the deal" or they'll talk to several agents, give them each enough information to give the agents an idea of what they're looking for, thinking"let several of them look, and whoever finds the house gets the deal". It can't really surprise anyone that buyers might think this way. It's pretty much standard practice when shopping for nearly everything. What do you do when you're looking for a computer, a new coat, a car? You comparison shop! Are you "loyal" to one salesman? Not likely. If the subject were to come up, you were likely advised to "shop around", "get the best deal", watch out for the "pushy salesman", don't "commit to anything ... you want to keep your options open".

All of this makes perfect sense when comparing retail products and when dealing with sales people. After all, it is level playing field. Those salespeople are charged with one task - to move product. Yes, it's much nicer when they display social skills, when they sincerely want to help you find the best product you can get. But real estate is something different ... at least it became something different as soon agents were charged with fiduciary representation.

Fifty years ago, real estate agents were basically sales people, too. They "brokered" real estate transactions between the sellers and buyers of real estate. Remember the phrase "Caveat emptor" (Buyer Beware)? To perform their role, real estate practitioners earned either a "salesperson's" or a "broker's" license. Those are still the terms used today which can certainly confuse the issue. In time, as "representation" became a duty of an agent, all agents initially representated the sellers of property (that was called "seller sub-agency"). Today, that's no longer the case. Though there are various types of representation today, and the laws regarding the responsibilities of a real estate agent to the consumer differ from state to state, it's important to understand that there are, in fact, such laws, and that working with a real estate agent means something quite different that working with a salesperson at a department store.

So, you're asking, what does this all mean to you, the prospective home buyer? There's a lot more to a real estate transaction than "finding a house". It's not the same thing as finding a pair of shoes or a new coat...or even of getting a car. For one thing, there's much more of a financial commitment (and risk) involved with a home. For another, the purchase of a home involves signing a contract and a whole host of legal documents. And let's not forget the house. It's much more than wood and nails on a bit of land. In addition to things buyers typically describe as important to them (things like the number of bedrooms and bathrooms, how far the house is from work or school or shopping or public transit, etc.) there are many other factors that buyers often overlook. For example, how "resalable" is the floorplan or does the house suffer from "functional obsolescence"; how is the house priced compared to other homes in the area; how is the house "located" relative to market preferences (does it back to a busy street, high tension wires, a pond, a park, a playground, forest preserve, a factory, a landfill). Specific location is important, not just for the buyer today, but for resale in the future.

And what about your (as buyer) particular circumstances? Are you "just looking"? Do you already own another home? Is your lease up and you need to decide whether to buy now or renew your lease? What is your financial situation ... what's your credit like, do you have downpayment and closing funds in the bank or will you need to borrow funds to purchase a home? Do you receive steady income either salaried or hourly or do you rely on commissions only? How long have worked in your current field? Do you receive alimony or child support? Are you paying alimony or child support?

These are the types of considerations involved in every single real estate transaction, and this list is only the tip of the iceburg! In other words, there's a lot more to consider than just whether you want to buy a house or not.

Now comes the question about how to proceed with the home search and buying process, and the impact of having agents compete either with yourself, with each other, or both when trying to find that "right" home. Let's begin with a simple scenario:

Let's pretend that when you arrive at work next Monday morning your boss calls you into his/her office and says "I have a very exciting project for you! It's particularly important that you work very diligently and do your very best work ... in fact there is quite a lot at stake for me. I'm counting on you to put forth your very best effort on my behalf. When all is said and done, the rewards for you could be quite high, in fact, so it could be very much worth your time to complete the project successfully.

Does that sound good to you? After all, the boss picked you to do a very special job. You feel good about the trust the boss has placed in you. And, in addition, you stand to receive a great paycheck for your efforts, right? At this point, how inclined are you to do your very best to complete the project? Would you be willing to work extra hours? Would you be enthusiastic about the task at hand? Chances are, the answer would be a resounding yes! Ok, lets take this scenario a bit further. The boss then adds:

As a matter of fact, this project is so extremely important to me that I'm also giving the very same assignment to several other people. Heck, I might even work on the project myself. After all, as I said, it's very important to me that it get done. But, just so you know, when all is said and done, only the first person that completes the job will get paid. That might certainly be you ... or not. And heck, if I get it done first, then I won't have to pay anyone!

Now how do you feel? Now how hard might you work to complete the task? Will you give it your very best effort? Will you be willing to put in extra time? How much attention will you give to the details? How many hours are you willing to work, and how enthusiastic will you be to put forth your best effort when your odds, right from the start, are less than 50/50 you'll ever receive a paycheck at all? Here's one more consideration to add to the mix. What if the boss just changes his mind? What if he decides the project isn't that important after all? Or what if something happens that, despite all your best efforts, something goes wrong and he simply cannot pay you...even if you did complete everything he asked you to do?

Take a look at your own situation if you're considering buying a home. While the above description sounds a bit absurd, it basically describes what real estate agents are confronted with on a regular basis ... because, by and large, the vast majority of them receive their compensation as a result of a closed transaction ... irrespective of the time, expense, or effort they make on a buyer's behalf. If they participate in no closing, they receive no paycheck.

But WHAT IF ... what if the above scenario were changed a bit. What if your boss were to say

I've actually discussed this very important project with several different candidates. After reviewing their work ethics, their training, their capabilities, etc., and comparing them to yours, I'm offering you this opportunity. I expect it's going to be a lot of work for you, you'd have a lot of responsibilities. But when all is said and done, you'll be handsomely rewarded for your effort.

Now how do you feel about the prospect of tacking this challenge? Is your perspective a bit different? How hard would you work now to do, not just a good job, but a great job! It's human nature to be willing to work harder when you know you're work is appreciated and that you will reap the rewards of your effort.

It's important to look at one other component of this issue because it's something that likely you've heard before. It's a complaint that buyers sometimes make about agents, saying "they were only interested in selling me something fast", "they showed me all sorts of homes I'd told them I didn't want to see", "they only showed me their own company's listings", "they tried to get me to buy more than I wanted to spend", and the list goes on. What do you suppose is behind that sort of behavior? Does it sound more like the action of a "salesman" or that of someone providing "representation"? Are the agents behaving in that manner concerned more about themselves or are they concerned more with meeting the buyers' needs? The answers are obvious.

What is the solution for you? There are a number of things you can do to protect your interests. One way is to talk with other people who have bought or sold property. Ask for recommendations, to be sure, but also ask what they liked or didn't like about those agents. Interview several different agents. You'll find a wide range of experience, ability, conscientiousness, training, market knowledge among the people you interview. How much control over the process do you want to have? What type of communication do you prefer? How "accessible" are these agents and how does that compare with your schedule? Once you've evaluated the agents, make a decision. Choose someone you trust and have confidence in and then prepare to be loyal to them. The agent, like yourself, will work much harder on your behalf if they know they'll be rewarded for their diligence and effort. One more suggestion. Many agents require that a Buyer Agency contract be signed before they'll really go to work for you. This would be very similar to the Listing Agreements that have been signed by home sellers. The agreements (whether with buyers or with sellers) outline what the responsibilities are of the agent, what their compensation would be and how it would be paid (buyer's agent compensation is still cusomarily paid out of the transaction through the offer from the listing broker, though other alternatives might also apply), the timeframe for the agreement, etc. Don't be afraid to request an "easy exit" clause in any agreement that you make that could take effect under certain circumstances. This is not designed to cheat an agent out of their due compensation, but is designed to protect both buyer and agent from being stuck with a "partner" who is not holding up their end of the bargain. It should protect both parties.

It's Time to Have the Birds & the Bees Discussion with our Buyers!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Thu, 01 Jan 2009 07:53:32 -0600

It would be irresponsible for a parent to wait until their children were grown up to have the proverbial "birds and the bees" discussion with them. After all, human nature, curiosity, the feeling that "everyone else does it, how bad can it be?" dictates that, when a clear understanding of the implications is absent, kids will take matters into their own hands ... they'll experiment, and have to face the consequences.

As adults, we understand that to be true, so we do have those discussions (in "age appropriate" increments) with our children as they are developing so that, by the time they are old enough to be confronted with a whole host of situations, they're in the best possible (hopefully) position to make the best choices for themselves.

So, since we know that having good discussions right from the start results in everyone having a better understanding of the implications of various choices, why, as an industry, have the majority of us been so reluctant to have those good "birds and the bees" discussions with our buyers!!!!

"What discussions?" you might ask. They're actually a rather important ones They're the discussions about the many components of a buyer's home search and buying process, their rights and responsibilities, the risks and potential consequences of a whole host of choices, as well as the rights, responsibilities, risks, etc., of the agents with whom they work. How they work with agents can vary greatly, and those variations can have huge implications to both the buyers and the agents involved. State regulations regarding consumer and agent relationships and responsibilities certainly differ, but there are some common threads that all consumers should understand when they embark on the search and purchase of a home. Here are some of the important ones:

Determining your objectives - This sounds very basic (and it actually is) but it's often one of the most overlooked critical steps in the process. When you ask a buyer "What are your objectives", they often will say "Well, to buy a house, of course". But in reality there's a whole lot more to it than that. What kind of house? What community? What floorplan? What school district? What about shopping, commute, churches, recreational resources, neighborhood features, etc? How about size requirements, layout features? Not only is it important to clarify what it is you're looking for, but also why it's important to you. Quite often the "why" is much more important than the "what".

Options for the Search Process - With so much information so readily available online, it's not uncommon for buyers to say to themselves "I can find the house myself...should I even bother getting an agent?" If "finding the house" were the only reason for having an agent, the answer would be much easier.

The "Game Plan" - It's important to recognize that buying a home is a process, not an event, though most people initially embark on this journey without understanding that. It's very important right from the outset to do your due diligence. There's a lot to take into account, ducks to get in a row, so to speak. Is this your first home? What are your financing options? Have you set aside money for downpayment and closing costs? How's your credit? Do you have your preapproval in place? If you have another property already, will you need to sell it in order to purchase another? Is it currently listed? Does it have a contract on it? When would you want to actually "be in" your new home? What types of homes will you consider purchasing? And much, much more

Are you planning to work with one agent? Several Agents? No agents? When making this decision, it's important that you understand the ramifications of each with regard to:

Representation / fiducary
CONFIDENTIALITY
Market knowledge
Negotiating skills and strategies
New construction (WHO sets the price / Value?)
FSBOs (what are the benefits / risks of working with "For Sale by Owner"s?)
Foreclosures
Short Sales
Exclusive vs non-exclusive agreements
Ramifications of dealing
Fees (will you be paying the agent directly, or will their fees be paid out of the transaction through the listing broker?)

While it's easy to say "an informed consumer is an empowered consumer", but with the huge amount of information currently available online on virtually any subject, that belief is certainly open for challenge. Out of the millions of pages of information that result from a search, for example, which have the particular information you need? Which are accurate? Which are applicable to your particular situation and needs? How can you best apply that information?

Data alone is of little use unless you know which data is significant and accurate, and then how to interpret and apply it properly

Buyers sometimes complain that they had been working with an agent "who was only interested in a sale" or who "only showed listings from their company" or who showed them "property had expressly said did not want to see. Certainly no one wants to be in that sort of situation ... most especially anyone anticipating making the largest single investment of their life to date!!!! The single best way to avoid having such things happen is to insist upon working only with professionals who are willing to take the time to understand what's important to you and are diligent in providing the information and guidance designed to help you make your very best decisions!

Thar's Gold in Them Thar Hills!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Wed, 31 Dec 2008 07:44:10 -0600

You never know when a nugget will appear! It has always amazed me how we can often glean lessons from unexpected places, even from unwitting teachers. This morning, a title by ActiveRainer Kris Whales in her post http://activerain.com/blogsview/859064/How-a-mean-spirited-email-helped-me-orwhat-would-TLW-do peaked my attention. It was clear that Kris had taken that mean spirited message and turned it into a valuable lesson for herself. Right off the bat it reminded me of a couple of things worth holding onto:

Titles are important ... if we want people to read our posts, we must first get their attention (she got mine...hopefully I got yours!)
Teachers can sometimes appear out of nowhere, and their lessons can go "viral". That reminds me to pay attention to what lessons I glean as I travel through each day, as well as any lessons I pass along, intentional or not.

In reading her post, an old story popped into my head that I felt a sudden urge to pass along. I'll try to remember it (I heard it a LOOOONG time ago!), and I hope you'll enjoy it!

There once was a Dad who had two sons. The boys were young and just about as different as two boys could be. One son, Philip, was the eternal pessimist. Every silver lining had a cloud; his glass was always near empty; for every rose there were hundreds of thorns; no good deed goes unpunished; in other words, Philip hated everything.

On the other hand, Philip's brother, Oscar, was just the opposite. Oscar loved everything and everyone. Every day was filled with new opportunity; he saw every other person as his "dear friend" and treated them accordingly; whenever something unfortunate happened in his life, he considered it just that ... a brief, unfortunate event, but tomorrow will bring better things. Oscar was the eternal optimist.

One day the Dad decided to conduct an experiment. He put Philip and Oscar each into a separate room where he could watch their behavior. He filled Philip's room with all sorts of wonderful things - the sorts of things that boys his age generally love! There were great toys and games, all sorts of music and videos, an adorable puppy to play with, and the list goes on and on! What did Philip do? He moped and complained...everything was too big or too small; too complicated or too boring; nothing whatever seemed to amuse, entertain, or please him.

On the other hand, when Oscar went into his room it was filled with huge piles of manure! What did Oscar do? (Okay, folks, this is a joke, remember? Don't get hung up on the manure!) Oscar was absolutely squeeling with delight. He dug into that manure with so much gusto that his Dad simply couldn't contain himself! He simply had to find out what was going through Oscar's mind that would cause him so much delight! Dad opened the door and said to Oscar, "I don't understand it. Your brother has a room filled with every imaginable delight for a young boy, and still he pouts and mopes. But YOU, Oscar, here you are playing with that manure like it's the best thing ever! What are you thinking?" Oscar's reply was quite simple "With all this manure, Daddy, there's got to be pony in here somewhere!!!!"

All of this reminded me how much our lives get defined by our perceptions, our expectations. To paraphrase Henry Ford, "whether you think you can or you think you can't, you're usually right". Thanks, Kris Whales for jogging my memory and starting my morning with this wonderful nugget!

In the Eye of the Beholder

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Tue, 30 Dec 2008 18:38:26 -0600

Today's real estate marketplace is challenging some well-seasoned perceptions. Think about one of the cliche's you grew up with ... "beauty is in the eye of the beholder". Actually, from a real estate perspective the phrase is more aptly put "value is in the eye of the beholder". Over the years you've probably seen some very clever "Your House as Seen By" messages. They might have left you with an impression something like:

Here's Your House as Seen By .....

You

Your Buyer

Your Lender

The Appraiser

The Tax Assessor

Today, however, it's getting harder and harder for the "beholder" to have even the foggiest clue as to what real value is. Market value used to generally mean "what a ready, willing and able buyer, being under no undue pressure, is willing to pay, to a ready, willing, and able seller, under no undue pressure to sell." And loosely, of course, if there is a mortgage involved, it also depends on what the buyer's lender's appraiser confirms it's worth. With current market conditions being so volatile in so many areas, "value" is now considered a "moving target". To some degree, that's always been the case. Today, however, that's particularly true.

Amidst claims of undue pressure placed on appraisers to determine "value" to meet or exceed a particular price, there are efforts under way to decontaminate the appraisal process. In a recent post by Regina Brown, she explores how a New APPRAISAL law will affect every Realtor and Lender by May 1st!. This new regulation approved by the Federal Housing Financing Committee (FHFC) outlines the Home Valuation Code of Conduct which defines what lenders, processors, underwriters, agents, and others can and cannot do relative to the appraisal process.

Despite the measures outlined in this action, however, it's important to understand that the appraisal process itself, though well intentioned, is inherantly flawed. Though the appraiser (as well as the underwriter for the buyer's lender) has a critical level of influence over whether a loan is ultimately approved or not, we must not lose sight of the factors that color the appraiser's perceptions. For example:

Though the appraiser does view the interior and exterior of the property being appraised, and takes measurements, photos, and notes about that property, that appraiser does not see the interior of the properties s/he uses as "comparables" in determining value. Generally a "drive by" of the comparables is done with an exterior photo and observation of the comparable's "location", but they will not be able to observe the condition or floorplan of the comparable. Even if they were to get inside those homes, however, they would not be observing it as it stood at its time of sale.
Square footage is only part of the story. Two homes could have identical square footage, but with one home being "functionally obsolete" because of its layout, while the other of the same size has broad, flexible appeal. This can make a huge difference in the buyers' perception of value...after all, they're the ones who have to "live in the house"
There are factors that can make a huge difference on the salability of property that are often overlooked in appraisals. For example, were there strong odors (cigarette smoke, pet urine odors, strong cooking odors, etc). What about evidence of mold, damaged or stained flooring, severely uneven flooring? These are the types of things that appraisers are not privy to ... and they can dramatically impact the sale prices of those comparable properties.
Particularly in a slower market, when there are vary few "good comparables" because few homes are selling, appraisers are forced to either draw comparables from outside the preferred target area or to take comparables that had sold much longer ago than desired. The further away the property in time or distance, the more "ajustments" the appraiser must make to arrive at a value. The more adjustments, the more room for error.
The appraiser generally will use comparables that are most similar in terms of size, type of layout (single story vs 2 story, for example) and also the type of sale ("normal" arms length transactions vs "distressed" sales such as foreclsores, short sales, etc). Traditionally, when there are very few of these distressed sales, appraisers can bypass a "similar" property which was a distressed transaction because they have other comparables from which to draw. However, when the market has large numbers of such distressed transactions, appraisers may be forced into including those properties in their evaluations, which can have a significant negative impact on the value of the subject property. This calls into question the validity of comparing the motivation behind a transaction rather than simply the physical characteristics of the properties involved.
When the appraiser does his work, he begins with a copy of the sales contract on the subject property. In other words, he beings with the end in mind! He knows the contract price as well as any concessions being made by the seller. If an appraisal were really to be totally objective and unbiased, the contract price and terms would be irrelevant. Since, however, the appraiser knows what the buyer felt the property was worth, his job is more or less to "confirm" or not the buyer's determination.
Many appraisers operate in very large geographic areas. As such, they are very often quite unfamiliar with the nuances between neighborhoods that often determine why a buyer might select one area over another, even if the selected area is more expensive. A "similarly sized' property in the less desirable area would then have a negative impact on the appraiser's perception of the value of the subject property. In other words, sometimes they simply do not know what they do not know!

The appraisal process, in reality, is much more an "art" than a science (though appraisals by and large are weighted in the loan process as though they were, in fact, reliable science). It's important to also understand that an appraisl is done to protect the lender's interest in the transacton. After all, when a buyer invests 5% of a purchase price as his down payment, that means the lender/s risk is the other 95%. Though in many parts of the country real estate contracts do not provide for specific action if the appraisal comes in lower than contract price, particularly in today's precarious markets, it's prudent to include some condition to the sales contract stipulating that the property must appraise at or above contract price. This at least to some extent would open the door to some recourse in the event the appraisal came in low.

It's also important to remember that, regardless of what value is attached to a property today, it's a safe bet that the value may well be something different 6 months from now. It may be higher, it may be lower. But whatever "number" is attached to a property, it's real value to the owner has other measures. It's "home"; it's pride of ownership; it's a part of our American Dream. And particularly now it's good to remember that real estate has historically been a wonderful long-term investment as well.

New Years Resolution ... TURN OFF THE NEWS!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sat, 27 Dec 2008 23:23:47 -0600

We all know it...the times right now are challenging. Apparently the media doesn't get it, though. For some reason they've collectively decided that sensationalizing bad news, or taking something that isn't bad news and soundbiting it to make it sound bad, must be good for their business! They want ratings; they want viewers; that's understandable. Their sponsors want those viewers so they can sell their products. But if viewers are bombarded with signs that their money is disappearing right from between their fingers, how much are they likely going to spend on those sponsors' products? What am I missing here?

And as if that's not enough, they seem intent upon bolstering suspicions of scandal in government ... and when they don't find a scandal, the invent the possibility of one. So we believe our economy is in the toilet; we're suspect of all the folks trying to get us out of this mess, we're inundated with stories of the worst of the worst (over and over again) and we're trying to make sense of it all. The media claims they're just "reporting" the news. That train has long since left the station! Instead of unbiased information, we're getting very biased "infotainment"...just enough fact that we "think" we should believe it, but so jaded and biased and slanted as to have lost nearly all semblance of truth. And this is the "news" we're supposed to be basing our informed judgements on?

It seems we're in the midst of creating a self-fulfilling prophecy. The question is whether it's to be one of growth, of hope, of recovery .... or the one the media is defiantly choking us with; one of fear, of loss, of despair! Maybe if we stop buying what they're pedaling we might actually find our way out of this into a better, brighter 2009! News is important, to be sure ... but only if it's credible. And who's giving us that?

Heros Come in All Shapes and Sizes .... Maybe Even Yours!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sat, 27 Dec 2008 20:53:08 -0600

Last night I was watching Larry King Live, a rerun he'd done around the Thanksgiving holiday, interviewing celebrities about their "heros". The focus most definitely was on the TRUE heros...people who make their mission in life to better in ways large and small the lives of others.

It must have stuck in my mind ... the thought of what's truly important in our lives. When I awoke this Christmas morning, my very first thought was that this is a time where so many around us are feeling a sense of loss and hopelessness. Now, at a time when many are sharing their time and their joy with loved ones, enjoying great meals, the laughter around them, the spirit of giving ... there are many, many others who are not. Their circumstances may differ. Some have suffered the loss of their homes or their livelihood, some are dealing with illness or injury, others are kept far from loved ones because of war, and many are grieving the loss of someone they hold dear.

As much as the holidays are recognized as a time for love, for giving, for sharing...generosity of spirit and of time, for many the holidays are a cruel and unrelenting reminder of "what should be" or "what could be", but, sadly, what is not. It seems each year reports appear in the media about the uptick in depression, even suicide, during the holiday season. Expectations met with disappointment may be part of the reason, or the emptiness felt when one has no expectations at all may be another. It's a sad commentary on our own "communities" that such could even be the case.

But while we may not be able to make a difference to huge numbers of people at any given point in time, we need only look around us. Every single one of us has the power to touch SOMEONE...maybe even to make a great difference in someone else's life. Sometimes it's as simple as taking the time to listen to someone else's story. Sometimes it's sharing a few words that lets them know that, not only did you hear what they said, but that you connected with them in a very real way. Whatever we say, whatever we do, treating someone, even when we may disagree with them, with a deep and abiding respect, that act alone can affect a change in them ... and it certainly is good for us as well!

Think about it. Particularly with all the challenges people in great numbers are experiencing today, there is no doubt someone close to you, maybe very, very close in fact, who needs you! Who are those people? What can you do to help them ... to ease their worry, to make their life better, to let them know they're not alone? Sometimes it all comes down to connections. Sometimes it's not what you can directly do that will make the difference. Sometimes it's a simple matter of putting them in contact with the right person ... a potential landlord, a potential job, someone to take in their beloved pet because they can no longer afford to care for them. You never know what difference you can make until you make a conscious effort.

Hero's come in all shapes and sizes ... as do acts of heroism. Imagine the possibilities if each one of us became a hero to just one other person! Imagine if we did even more!

Time to Quicken My View of 2QQ8 ... to Make the Best of 2009!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sat, 27 Dec 2008 20:22:10 -0600

If ever there was a time to take a long, hard look at the income and the outgo, this is it!!! It seems like everyone, irrespective of lifestyle, income, job security, etc., is scaling back, tightening their belts, just trying get a handle on how current economic conditions are impacting them. And probably the single most important step to take in understanding how best to manage our finances comes from a very clear understanding of more than what we spend ... it comes from knowing exactly what we spend it on.

There are some really great tools available to help us do just that! Today, with the popularity of Debit Cards, and software products like Quicken and Microsoft Money, getting at the heart of where every single penny we spend goes is a whole lot less challenging than it used to be. Setting the system up does take a bit of time and organization, but once set up it can save you literally hundreds of hours and considerable money, too! With 2008 coming to a close

How often have you heard the phrase "if you watch the pennies, the dollars will take care of themselves!". So much of what we spend, we don't even think about. And when the time comes where we have to tighten the belt straps, we're not even aware of how much "wiggle room" some of those expenditures give us in our weekly or monthly budget. How often do you make a quick stop on the way home to McDonald's to pick up dinner because your day ran long and you simply don't have either time or energy to prepare a meal? Or have you thought about the little things like haircuts, manicures, tips, the stops at the local Convenient stores, treats for the kids at the grocery or toy store, movies, etc. Without tracking all of the expenditures we make, it's so much harder to take a look at exactly where the money has been going ... to know where we might conserve.

It certainly true, you don't really need any special financial software to simply "track" your expenses. A basic "spreadsheet" would allow you to list your expenses and categorize them. And there's no question that tracking that way is certainly better than not tracking at all! But that sort of tracking has many limitiations...primarily in ease of input and what you can do with that information once you've entered it Financial software will do so much more than that ... including making tax time a whole lot less challenging!

So, whether you're starting from scratch, or moving information from a basic spreadsheet, or even trying to get a bit more out of your financial software, there's no time like the present to set it up and put it to good use, and here are some tips moving forward:

Gather all your account numbers and vendor information (things like credit cards, mortgage holders, auto loans, school loans, etc.).
For things like mortgages, car loans, etc., it's a good idea to have both your initial statement (showing your starting balance, interest rate, start date, etc.) as well as your most current statement
Also a good idea, have a copy of your last annual tax return - it will help you in setting up some of your default information
You'll be asked to set up "categories" for all your expenses. One trick is to start by jotting down a list of every type of category you have...personal, household, business, charitable, etc. Making that list will make it easier to "subcategorize" to make the system easier to use. For example, for all my business categories, I place an * before the category name. That way everything business related stands out from all other categories.
When creating categories, you'll also be able to identify which categories will be included on your tax return...and on which line! Taking the time to set up now will dramaticaly simplify tax preparation, whether you do it yourself, or have a preparer do it. If you have an accountant do your taxes, they'll LOVE the organization of data. And, since it will take them less time to prepare your taxes, you'll be paying them less as well.

With the above information hand, many of these programs permit you to use your own, real information in walking through their tutorials. For example, when it comes to a tutorial on setting up checking account information, they'll ask if you'd like to use "your own" information while you practice. Doing so is an excellent idea...you're creating content WHILE you're learning how to use the program.

After setting up all your accounts, and all your categories, it's a simple matter of getting into the habit of entering data daily, preferably, as expenditures are made. Making the habit of investing 5-10 minutes a day can save you many hours later on. If your bank has a download service for your accounts, the process is made even easier because all bank information will be added automatically into your system! Talk about "user friendly!!!" Can't get much easier than that!

Who Moved My Cow!!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Wed, 17 Dec 2008 21:57:24 -0600

Recently I read a great post here on the Rain by Herb Hamilton discussing some of the change we've experienced in the real estate industry over the years. And there certainly can be no question that the last decade or so has brought with it an abundance of change that most of use couldn't imagine when we first got into the business. Thinking pragmatically, I suspect that could probably be said by most industries. Things are simply a whole lot different than they used to be.

Several years ago, amidst one of my own life's "trials & tribulations", a friend of mine introduced me to a great little book entitled "Who Moved My Cheese?" If you've not read it before, it's a quick, delightful, and insightful read, chock full of "AHAAAH!" moments. At least it was for me. It's a tale about four little characters who live in a maze. Two of the characters are mice named "Sniff" and "Scurry", and two are little people the size of mice named "Hem" and "Haw". In the story, their cheese gets moved (the metaphore for change) and each deals (or not) with the disappearance of their cheese in different ways. The tale examines how we perceive change, how we relate to it, what we do when we're confronted with it. Heck, they even address all the typical reactions to change ... like the things we would normally say when somethings happens in our lives ... things like:

It's only temporary, things will get back to "normal"
It just isn't fair
Why now?
Why me?
What can I do to get my life back?
Who's to blame?
When will it be over?
How can I fix it?

Sound familiar? Today I suspect there are a great many of us who are trying to figure out a whole lot more than just "who moved my cheese?" We're wondering ....

"WHO MOVE MY FREAKIN' COW!!!"

We're used to swings between a "buyer's market" and a "seller's market". We're used to adapting to increases in competition. We're used to volatile interest rates and creative financing. We've adapted to a variety of "agency" and representation arrangements. We've even somewhat reconciled non-representative interlopers wedging themselves between us and the consumer (though that's a topic for an entire other discussion!!!) But what we face now is different ... MUCH different!

Today we're faced with converging challenges: a marketplace facing large declines in housing values, buyers unable or unwilling to jump into the market despite record low interest rates and rolled back housing prices ... and amidst all that, we're faced with a consuming public who no longer understands, or is willing to accept, a real estate industry maintaining a stranglehold on a business model that has long since outlived its usefulness. Our "cheese" has been moved in a way we've never had to face before. But what's more, the source of that cheese has been moved as well! As an industry, we can "Hem" and "Haw" about how bad things are, how scarey things are, how much we want things to get back to normal, but unless we're willing to be creative and resourceful, to take a long hard look at exactly what it is the consumer ... TODAY'S consumer ... wants from us and figure out the very best ways possible to deliver it to them, not only will the cheese be gone, or even the cow ... we're going to find ourselves missing the whole entire farm!

738 Gary Avenue - The "Legends" in Carol Stream

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Wed, 17 Dec 2008 19:47:18 -0600

Judi Bryan | RE/MAX Accord | judi@homeslady.com | 630-605-8902

738 Gary Avenue, Carol Stream, IL

Outstanding 2 bedroom condo home in popular Legends in Carol Stream. Flexible floorplan situates the 2 bedrooms separately...Great for a variety of living arrangements!!!!

2 Bedroom, 2 Full Bath Condo

$1,295/month

Bedrooms	2
Bathrooms	2 full, 0 partial
Sq Footage	1,055
Parking	2 dedicated
Pet Policy	No pets
Deposit	$1,295

DESCRIPTION

Freshly painted and immaculate with towering vaulted ceilings in the living area as well as both bedrooms...this rental is perfection! This 2nd floor unit overlooks mature evergreens and has a beautiful water view. With a unique and versatile floorplan featuring bedrooms separated by the living area, this unit works well for a variety of living arrangements ... including singles or family arrangements as well as "housemates". Don't miss the floorplan attachment! The kitchen is fully applianced, and there is also in-unit laundry for your convenience!

Situated in the popular "Legends" complex in Carol Stream, you'll enjoy the full-featured clubhouse with indoor pool, workout center, hot-tub, and rec center...and you'll also love the convenience to shopping, trains, and expressways.

see additional photos below

Property Website

Virtual Tour

Visit this property IN PERSON

RENTAL FEATURES

Air conditioning	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Living room
Dining room	Dishwasher	Refrigerator
Stove/Oven	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio	Cable-ready
High-speed internet

COMMUNITY FEATURES

Guest parking	Clubhouse	Fitness center
Swimming pool(s)	Lake

ADDITIONAL PHOTOS

Renter contact info:

Judi Bryan

RE/MAX Accord

judi@homeslady.com

630-605-8902

Equal Opportunity Housing

Posted: Dec 16, 2008, 5:13pm PST

Before You Buy a New Home...

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Thu, 04 Dec 2008 23:17:39 -0600

The idea of purchasing a 'brand new' property can sometimes be irresistibly tantalizing. After all, we all love the idea picking everything out ourselves, moving into a home that's a fresh and clean, of being that very first owner!

And while there is a tendency of builders to minimize the implications of the new construction purchase contract, the fact is those implications are anything BUT minimal! Like anything else outside our own areas of expertise, we generally have no idea how little we actually know about something until we're knee deep in problems - until it's too late!

This fabulous post was created by my colleague Sharon Alters with outstanding information for anyone even contemplating a new construction home purchase. And to preface that information there is one critical item you should understand:

Nearly every single builder requires that, if you want your own representation in your new construction purchase, your agent must accompany you on your very first visit to that new construction! If you walk in alone, you are basically giving that builder free reign. Why should you care?

Even the very best builder uses paperwork that protects the builder's interests, even at the expense of the buyer's
The builder is there to sell you as much as possible - not to protect your investment decisions. Some of the choices you might make can be to your detriment to the tune of tens of thousands of dollars ... and the builder will not tell you so (but the agent who represents you will!)
Those nice, very helpful people working at the builder's model are there to SELL you a house. They work FOR the builder. They work to protect the builder's interests. They are not there to protect yours!

YOUR agent's job is to protect you (sometimes even against yourself). There is far too much evidence to the fact that people tend to 'forgive" just about anything for the sake of "new construction". But once that home has been purchased, it no longer qualifies as "new"....and the next buyers won't be so forgiving. Having a good agent in your corner can protect you and help insure that whatever decisions you make are in your best interests.

SO GIVE YOUR AGENT A CALL before heading over to those great looking model homes - You'll be grateful you did!

Via Sharon Alters, GRI, Realtor Jacksonville-Orange Park-Fleming Island:

Do you think you can do it alone when buying a new home? Don't think a Realtor really contributes to the transaction? Think again. Here are some of the questions a knowledgeable agent can help you answer as you navigate your way through the new home buying process.

1. Are there any incentives being offered?

2. When is the best time to negotiate with a builder?

3. Do you know which closing costs a Builder typically pays? Do you know which ones the builder you are interested in pays?

4. What happens to my deposit if I can't buy the house?

5. What features are included in the house?

6. The model - know which are upgrades and which are included in the price.

7. Do you know which lots are the best ones to buy for resale? What is a lot premium?

8. Do you know which house is the best to buy for resale?

9. Which communities are the best investment for the type of house I want?

10. What happens if the builder doesn't finish the house on time?

11. What about having independent inspections? Do you know about slab and frame inspections?

12. What happens if items come up on the inspection list and the builder doesn't want to fix them?

13. What happens if I want to use my own mortgage company?

14. Do you know the reputations of all the local builders in your area? Do you know which ones to avoid? Which ones to use?

15. What are the advantages of an end loan? Construction perm loan?

16. Do you know third-party negotiations are more profitable for the Buyer? How detached do you think you are when you want something? How much of a poker face do you have?

17. When should you pay the asking price for new construction? What other things should you ask for?

18. Just who does the builder represent? When they say they will work to represent both parties, is that really possible?

19. Absolutely DO NOT do this or you may jeopardize your ability to be represented by your Realtor.

20. The Design Center - Which upgrades are essential for resale? Which ones can you skip?

21. Two essential tips for not making a bad investment - do you know them?

If you can answer all these questions, then you qualify as a new home specialist. If not, then you can greatly benefit with the help of an agent who is experienced in new home sales. Having sold probably more new homes than resale homes, I have learned a lot of nuances about the process. It can be a lot of fun or a frustrating headache. With an experienced Realtor who can help you avoid mistakes, the purchase of a new home is a great investment.

Pre-Listing Home Inspections - Good Idea??????

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Tue, 02 Dec 2008 07:35:08 -0600

There was an interesting article that appeared in my "inbox" this morning entitled "Selling Homes Quickly". Now, working in an environment today where that is a particular challenge, it seemed like a good idea to check it out. So I did.

The argument presented in the article was that, when selling your home, you should prepare for the process by having a professional Home Inspection done BEFORE you list your property for sale. The rationale for this, according to the article, is that you can address any issues immediately (particularly significant ones) thereby avoiding having them come up at a buyer's inspection, alarming the buyer and perhaps derailing the contract. And if they don't derail the contract, the writer argues, the buyer will magnify the financial impact, asking much more in compensation than the remedies would likely require. Now, in the interest of full disclosure, the article was authored by a Home Inspector, so it could be argued that his perspective might certainly be biased.

The fact remains, however, that the topic IS worth considering. When I run the pros and cons of the "pre-listing home inspection" through my mind, there are a number of things that come to mind on both sides of the question.

Advantages of the Pre-Listing Home Inspection:

Takes much of the "guesswork" out of what will likely come up AFTER you've negotiated a contract on your home, when you think you know how much you'll be getting from your sale.
Gives you the opportunity to correct items that might deter buyers from offering on your home, or might cause them to reduce their offers in the first place
Enables you to discover safety issues of which you may not have been aware (faulty wiring, low level gas leaks, leaky roof that may not have yet gotten bad enough to be noticible from the interior of the house
Reassure potential buyers that you are "not hiding anything". People tend to be most anxious about "the unknown"

Disadvantages of the Pre-Listing Home Inspection:

In most states, sellers are required to disclose what they know to be defects with the property. However, they are protected from having to investigate to find defects about which they had been aware. Once the "discover" an issue, they must disclose it
Buyers will generally still insist on having their own home inspection, and their inspector will be trying to uncover additional issues
Buyers often place little or no value on the "seller's" home inspection because they feel the inspector would be trying to discover "as little as possible" on behalf of the seller
If your pre-listing inspection reveals issues that you DO wish to remedy, will that remedy be the "proper" one, or the "cheapest" one? Sellers often look for the "cheap fix" which can often backfire.

Over the years I've discovered that some agents insist on the pre-listing home inspection. They believe these inspections minimize the surprises that often occur after all of the work of marketing a home, securing that buyer, negotiating that contract have occurred. I certainly can't argue that view - it certainly has value. I suspect it may have more value in some areas than in others. For example, some types of properties might be better "candidates" for the pre-listing home inspection than others. If I were looking at an 80 year old home versus a 5 year old home, I might view the importance of that inspection somewhat differently.

Several considerations have thus far prevented me from requiring home inspections on my listings as a matter of policy (though there have been individual circumstances where I've recommended them). Each recommendation I make to a home owner has a cost/benefit component. In the case of the pre-listing home inspection, there are a few items to consider:

The actual cost of the inspection itself
The seller's required "Property Disclosure" (an inherent liablity) will likely be impacted
Having had one inspection generally does not mean the buyer won't have their own

As to the premise of the article, that a pre-listing home inspection helps homes sell more quickly? Can't say I believe that (if I did, I'd require them!) Generally the inspection will reveal things that the "casual observer" (ie, all of the prospective buyers and their agents who walk through the home) would not notice. And the items that they WOULD notice don't require a professional inspection to uncover. It's the things about the house that they do notice that impact how quickly a home sells and how much a buyer is willing to pay for the property. That's a whole other discussion (about staging a home, preparing it such that when it's exposed to the marketplace it "shows" its best).

What do you think? If you're an agent, do you recommend the pre-list home inspections? What have been your experiences? If you're a consumer, weigh in with your thoughts! I'd love to hear from you on this subject as well!

This Holiday Season - Recapturing the Meaning!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Mon, 01 Dec 2008 08:27:13 -0600

Remember the story of the couple who so loved one another that they each gave up their own greatest joy to be able to give the other what they most wanted. He sold his guitar so he could give her a precious hair clip for her beautiful long hair ... and she cut off her hair and sold it to be able to buy a case for his guitar. I don't remember the name of the story or book from whence that came, but the message was always quite clear to me.

Over the years I must admit I've become somewhat cynical about holidays in general. They have become more about commerce and less about meaning. I accept my own culpability in that...I became an active, if not so willing, participant in that erosion of meaning. Year after year there's been a rush to the malls, running up the charge cards that will take months to bring back to "normalcy". I'm not saying that it didn't give me joy to see faces light up when friends and loved ones opened their gifts, but something about all that simply didn't seem quite "right". It was simply too much about "stuff"!

This year more than any other in my lifetime (and that's a LOT of years) has been very difficult for so many people. I don't want to belabor what we are all hearing in the news, or seeing in our own households or with our families and friends, but there simply is no denying it. Our world has dramatically changed...little by little, day by day, human being by human being. All of a sudden there is much less emphasis of the "stuff" of the holiday season, and much more emphasis on the real "meaning" of the season.

Whatever our beliefs, whatever our faith, this is a season we identify with love, with sharing, with gratitude, with giving. But it seems to me that this year will take all of that and magnify it. This year, because so many are feeling so much, so deeply, and in a way that many have never experienced before, this year we can really "connect". This is the perfect time to reach out to one another and give what we can...not of "stuff", but rather of our time, of our attention, of our energies....of ourself! There are so many around us who have such great need ... and there are many among us who do as well!

What are your plans for this holiday season? What are the things that are important to you? Who are the important people in your world? How would you like to spend your time this holiday season? Why are those things important? There's no better time to answer than now!

Debbie DiFonzo - You Bookworm MeMe'd Me! Hot Dam!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 30 Nov 2008 19:00:42 -0600

Must admit. 24 hours ago I hadn't even even heart the term MeMe, and I most certainly did not know what it meant. But clicking around on AR this morning I came across a couple of MeMe references, including a great one by Debbie DiFonzo ... and I just had to bite! So thanks, Debbie, for tagging me for this Bookworm MeMe. (For those of you as oblivious as I was...maybe even still am...getting tagged for this MeMe means that I

Had to grab the nearest book
Go to Page 56
Scan down to about the 5th sentence
Begin recording the next line and the following few
Tag 5 new players for new Bookworm MeMe's

So, here I go. Years ago (even before my days in real estate) I was at a seminar conducted by Zig Ziglar. In it he talked about how important it is to keep your mind filled with good thoughts...to avoid any sort of "garbage dump thinking". I've never forgotten that and have always tried to keep my thoughts positive, forward, healthy, productive. There are times when that's a bit more challenging than others - but those are the times when it's absolutely the most important to do! Times like now.

So the book I've been keeping on my desk lately is one I've had for several years. It's Simple Abundance, A Daybook of Comfort and Joy by Sarah Ban Breathnach. I like to keep it nearby because it's a "day book" with great passages for each and every day of the year. It's great for focusing my attention on things that really matter...helping me "declutter" my thinking and wipe out any of the "garbage dumping" that might be trying to seep into my thoughts.

So, I went to what I think is Page 56 (this book doesn't have page numbers...so I counted) and went down to the 6th. Here's what it says:

"I've been where you are now. I know. I know how days, weeks, months, even years can escape your grasp. I know what it's like to put everyone else's needs before your own so that you can't find a half hour a day for yourself. I know how easy it is to find heartfelt excuses for why you can't begin something new even if you yearn to, desperately. I know how easily the word "tomorrow" slips out unconsciously. Tomorrow you'll begin. Tomorrow. All this I know.

But what I know most of all is that reading about a journey is not the same thing as taking one."

What that says to me is that life is not a spectator sport. That tomorrow never comes (today is the tomorrow we worried about yesterday....the only day we can control is the one in the here and now...TODAY!) It tells me that each of us needs to replenish the well...to fill ourselves up because the the alternative is draining the well dry. We have more to give to the people in our lives when we fill ourselves as well.

So, there! My very first MeMe!!!! Thanks, Debbie! Now I guess I need to tag 5 new people, right????

Changing the Landscape of Real Estate - It Must Make Sense!!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 30 Nov 2008 14:12:54 -0600

I've long believed that the way real estate is practiced across this land makes very little sense. I'm not exactly sure who came up with the idea, way back when, that nobody paid anybody a single penny, despite whatever work was performed, or how much time and money were invested, until and unless there was a certain specific outcome that occured - an outcome, by the way, over which the person investing the time and money had very little, if any, control.

Consider this, for example. Houses often don't sell. Sometimes it's because they're not marketed well (and of course, the agent has control over that). Sometimes it's because the seller changes their mind, or gets sick or loses a job or doesn't take the transfer, or simply get's scared. And sometimes buyers don't buy...they decide they can't afford what they want to buy, or their house doesn't sell, or they lose their job, or the interest rates go up, or they simply "change their mind".

And whoever came up with the idea that just the listing broker gets paid (and that they are supposed to share what they are paid with the selling broker)? And who decided that what they are paid is based on a percentage of the price of the home?

For the longest time I thought "What am I missing here? Am I the only one who thinks there's something wrong with this picture?" Then, a couple of years ago, I was introduced to a book with what I consider a pretty provocative title, "Ripping the Roof off Real Estate....how a Multi Billion Dollar Industry Came to Have an Identity Crisis" written by Mollie Wasserman (if you've ever been on the web, visiting a real estate website and seen the "Real Estate Internet Warning", that came from Mollie!) I read a few of the excerpts in the book and decided I needed to read the whole thing!

I was amazed! This book was obviously written for the "consumer", those folks interested in real estate services, trying to understand what to expect when they worked with real estate agents. And from the title, I was expecting some sort of dramatic "expose" about an industry I'd been a part of for decades. But what struck me when I was reading the book was how much it was the "nuts and bolts" of the challenges faced by consumers trying to make sense of our business, and by agents trying to make a living being caught between the worlds of "fiduciary service" (that means putting someone else's best interests first and foremost....even ahead of your own) and "commission based selling" (where you are only paid on a specific result...one over which you often have no control). That model, OUR model in this industry for decades, has a number of inherent conflicts.

When a prospective seller requests an "opinion of value" (the proverbial "CMA"), how much can they trust what the agent tells them is their property's "value" when the agent (1) has no relationship with that seller, fiduciary or otherwise; (2) is receiving no compensation for that information or the work that went into compiling it; (3) only has the "potential" for compensation if the consumer "likes" what they hear and decides to hire the agent.
When a buyer wishes to make a home purchase, how confident should they be that the agent working with them is "reprenting" them when, in most cases, that agent is paid based on a sales price (the higher the price the higher the commission)
How confident can a buyer be in the recommendations as to whether to buy or not, or which home to buy in particular when the agent's recommendations determine whether and how much that agent will be paid at all? (How often have YOU gone to your boss and gave them recommendations that basically insured that you would NOT get paid?)
How hard can a buyer expect an agent to work for them if there is no "responsibility & compensation agreement" in the first place?
What if you're trying to decide whether to make certain costly improvements to your current home versus selling your current home and purchasing another ... how can you trust what the agents tell you when if you decide to "improve" they get no pay, if you sell, they might.
What if the consumer needs real estate related help that does NOT involve a real estate transaction at all (like challenge tax payments, or determining WHAT improvements to make to a home, or like a market evaluation for a divorce where the home is not being sold)?

I'd like to make a point here that I think is really important to keep in mind. Even assuming the agents involved are all honest, hard working, well-intentioned people, how does "whether or how much" their compensation might be distort their impressions of things? Bear in mind also that agents do not come to discussion with prospective buyers or sellers "on a whim". Prior to those meetings, they must know what the questions are. They must do a variety of studies to come up with the information they will be presenting. In other words, they've already invested time and expertise, sometimes many hours worth of work, prior to ever sitting down with a consumer. How might many hours of working for 'free' influence YOUR perceptions, YOUR recommendations, if you were in their shoes...even assuming you wanted to do the RIGHT thing?

With all the tranformation going on "around" our industry (with many non-representation models appearing on a fee-for-service basis, for example, and the great influx of new technologies and communication methods that impact not only WHAT is done but HOW it is done) there is still HUGE resistance to challenging the "traditional" real estate model practiced by the vast majority of real estate companies and agents around North America. This is particularly surprising given the departure from "seller sub-agency" that took the industry by storm in the 1990's! Today, for the most part, there's still a reluctance to admit that anything has changed - to insist that real estate be practiced in predominantly the same old way way, despite the growing outcry from the consumer that the same old way simply is not enough anymore!!!!

But remember that book I was talking about? It was the precurser to a new alternative in real estate...a way of looking at the real estate needs of the consumer differently, sensibly. It recognizes the fact that consumers want transparency in real estate. They've never quite understood the commission approach (not that it shouldn't be an option....just that it shouldn't be the only option!). They want choices in what services they can avail themselves of, choices in how and when they can pay for services. They want to understand exactly what it is they are paying for, and whether or not it makes sense for them to pay it at all. By the same token, agents want (and deserve) to be compensated for their time, their resources, their expertise. Good agents bring a great deal of value to the table, but for too long have had to rely on income from efforts that might never materialize, generally due to circumstances outside their control. Thats like going to work every day, putting forth your best efforts on behalf of your employer only to discover that, at the end of some weeks, there simply was no paycheck.

Today there is an option available that addresses all of the above. It's an option offered by increasing numbers of agents around North American. It's called ACRE (Accredited Consultant in Real Estate). You can take a look at the ACRE landscape at The Consulting Times. Be sure to click around the Consumer Edition as well as the Professional Edition. And by all means, take a look at the map. I'm there. I hope to see YOU there, too!!!

An AMAZING Spirit

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 30 Nov 2008 06:41:20 -0600

A friend of mine for many years, Judy Allen (some of you who've worked the western suburbs of Chicagoland for a number of years might remember her as Judy Anderson....and some of you might know Ian Anderson...originally here in Chicago, but now in sunny Florida...Judy is his Mom, and Ryan is his brother!) passed this along to me recently, and because I know of Ryan's amazing work, I just had to pass it along to you as well.

This is a young fellow who began about a decade on a "personal journey"... deciding to do what many of us have thought would be fun and exciting (though most of us never take the first step beyond just "thinking" about it) and decided to travel the world. At first the journey was just about the "personal" part...seeing, experiencing, learning, growing, etc. However, years have passed, the traveling continues, but Ryan has made so much more of this adventure. He's taken it upon himself to really make a difference...to make life better for children in need in some of the farthest reaches of our world.

THIS WAS FROM JUDY'S NOTE TO ME...........

My son Ryan will be going off to Asia again this Saturday. I am sending everyone an update on his wonderful volunteer work he does overseas. This year he is going to Burma to build an Orphanage for children effected from the cyclone that struck earlier this year. This is a devastated area of the world with over 100,000 people killed and desperately needs our help. He will be joining forces with 2 other people in hopes to raise enough for this project. To read more about it I have attached his letter.

I know money is a challenge for all of us. I do believe through Gods Grace his work will be blessed with what ever people can donate. I also ask for prayers for his work.

LETTER FROM RYAN>>>>>

As you may or may not know, I am once again venturing off for my eighth annual winter to South East Asia. When I started, my trips were intended to be leisurely focused, with my activities moving from country to country, backpacking and budget traveling. Four years ago that changed when I volunteered onsite for 6 weeks in Katmandu Nepal at Himali Orphanage through an organization called Global Volunteer Network. I was able to conduct a fundraiser in Chicago before I left and through the generosity of others raised approximately $3000 to help rebuild the orphanage and get the children necessities that they have been lacking their whole lives. It made a big impact on me that a relatively small amount of money purchased an amazing amount of aid for these poor Nepalese kids. Three winters ago, I was initially challenged with opening AndoLoco, my restaurant and bar in Thailand. Now that the restaurant is fully operational and I can get back to more rewarding work: helping orphaned children in third world countries.

Early last year, with the generous help of an attorney Marcel Yonan, my charity began the process of becoming a tax deductible non for profit charitable foundation named Hands on Helping. We sent out a letter similar to this in addition to hosting a fundraising party. The fundraising party was a great success and raised over $4000. Combined with the funds raised from the donation request letter, this small charity totaled $7,000 in 2007. This money focused on 3 different orphanages located in Phnom Penh Cambodia. My thanks to all of you who donated last year and I can report to you great results of what your contributions provided to the orphans of Cambodia. During my trip you can read about my day to day activities and thoughts online at this blog site, great photos also http://andoloco.wordpress.com/

It is difficult to list all the goods we provided to the orphans. All money raised by Hands on Helping, however, is spent on specific items needed by the children and the orphanage. There is no cash handed out to a bureaucracy or government official. Some of the larger purchases from last year's donations included:

Delivering over 700 pounds of rice, vitamins and first aid supplies.
Outfitting one new orphanage with an extensive one year medical supply kit and refilling two other orphanage's medicine kits from last year ($670).
Purchased and delivered 3 sewing machines, car batteries for electric power, water filtration systems, shelving units, countless mosquito nets, pillows, bed mats, blankets, school uniforms, shoes, school bags, various school supplies, kitchen supplies, carts to carry water from the well, kitchen supplies.
Retrofitted 4 wood burning kitchens into clean gas setups purchasing all needed burners, gas tanks etc.
Paid tuition for one older orphan to attend his first year of college.
Continued to pay salary of Namee my English teacher/manager/translator of Peace orphanage. He is my right hand man of all my Cambodian operations. ($150 month)
Took 55 children from Chey Prach Kuma orphanage on a field trip out of town to the zoo.
Visited the municipal garbage dump and bought out all the food vendor's supplies so all the children working there could have a free meal.
Took three children to see an eye doctor.
Took over 15 children to the dentist for their first time paying for almost 10 root canals and countless extractions.
Built walls (they only had plastic tarps!) and extended the rear area of Peace Orphanage ($500).
Paid my taxi man Bolen for his month of hard work translating, bartering and delivering all these needed goods. ($450)
Donated over $500 to three different orphanages for food.
Created and posted over 100 copies of a poster suggesting travelers to come visit, donate and volunteer at one of the orphanages we work with in Phnom Phen.

These simple posters were directly responsible for bringing in hundreds of visitors from all over the world, thousands of dollars of food money and multiple volunteers, in addition to catching the attention of at least one foreign group who has pledged a few thousand dollars and now some past volunteers are paying for a few of the older children to attend the best private school in Cambodia! Now these are successful achievements! It is only a matter of time before all travel guides help cement the fact that visiting an orphanage is a must see stop when visiting Cambodia. My new focus is developing sustainable support for the many needy orphanages and getting the major tourist guide books to take notice.

I now have a website that has both a slideshow and video showing some highlights of last year's hard work. A few weeks ago I was written up on the front page of the Daily Herald for this year's fundraiser which helped another $4,000, but this is far from my goals for these kids who I can help so much for so little.

This year on October 18th I will be going to delta region of Myanmar (formerly Burma) where cyclone Nargis tore a destructive path killing over 100,000 people and leaving millions homeless, hungry or orphaned. I am teaming up with Marc Gold of the 100 Friends Network and together we hope to build an entire new orphanage. Our goal is to raise $25,000 together and with that we hope to change the lives of 100 children who lost their parents in the cyclone. These kids have been through serious devastation and trauma, so let's get in the giving spirit a little early this year and soften this loss that will affect the rest of their lives.

While understanding that times are a little tighter right now in America, I hope that people can look beyond themselves to realize that these are children left with absolutely nothing and no one to look out for them. Last year, with only $7,000, Hands on Helping was able to take all sizes of donations and turned it into huge life changing results for some of the most unfortunate children on our planet. I would like to ask you for a suggested donation of $100, but any donation is welcome, large or small. Large donations (over $250) can be claimed tax deductible through collaboration with Marc Gold's 100 Friends. Please see below the links for how to make a large donation and get a tax deduction receipt. Please keep your own records for any donation under $250 and amounts over that amount must go through 100 Friends.

My (awesome) Mom will again manage all the donation payments. Thanks again for any generosity you can provide.

Let's embrace the power of the internet and spread the word to anyone who might want to help these orphans live a better life. Please forward this email along with a short personal header describing your relationship with me and my past accomplishments to your entire address book. This simple deed can make great things happen!

Best Regards,

Ryan Anderson
Director Hands On Helping Foundation

Please make checks out to
Hands On Helping
c/o Judy Allen
30W545 Arbor Lane
West Chicago, IL 60185

For large donations over $250
Make check out to 100 Friends
THIS IS IMPORTANT! WRITE "HANDS ON HELPING" IN THE MEMO SECTION OF THE CHECK

Mail the check to the same West Chicago address and we will forward the check after documenting it to 100 Friends and 100 Friends will issue a written tax deductible receipt

Please take a moment of your time to look at the links below!!!!.
Front page article of my work in the Daily Herald
www.dailyherald.com/story/?id=25159

Hands on Helping website complete with photo slideshow and video of work done in Cambodia www.handsonhelping.org

Link to see the 2004/2005 benefit accomplishments please visit www.andoloco.com/nepal

Marc Gold's charity website at www.100friends.org

My blogs from last years Cambodia work includes good photos!
http://andoloco.wordpress.com/

A Lesson in Value

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 30 Nov 2008 05:51:31 -0600

My daughter Shannon is a very independent, self sufficient young lady. She has a job that she loves, writing and editing for her local online newspaper. Last year, as one of her work assignments, she trained for and participated in a local marathon race. Right from the start, she knew she had to replace her running shoes...they were old, and worn, and simply not up to the task ahead. Now, I will say that was not an easy decision for her. She's frugal. She watches her budget. And she doesn't replace things just willy nilly. So when she said she needed new running shoes, I knew for a fact she NEEDED new running shoes.

Now, she's also young, adaptable, and very resilient, and, as you can tell, has a wicked sense of humor! Shoes in general were not a big issue to her. For the most part, as long as they stayed on her feet and were reasonably comfortable, she was a happy camper. So, she set about to finding a reasonable replacement for her shoes. After a bit of shopping, she found a pair that were just her size, and she was able to get a great deal on them, too. All in all, she was pretty proud of herself.

Training began, and fulfilling her role for her job, she began writing and recording the various phases of her training. There were workout sessions to build stamina; there was nutrition counseling to make sure the participants knew the best ways to nourish and hydrate themselves for the challenge ahead (Shan's "interpretation" of those hydrating instructions sometimes left a bit to be desired, however); and, yes, there were practice running events.

At first, everything seemed just fine. She was getting great workouts, and on those shorter runs she was doing just fine. But as time went on, she noticed her feet weren't feeling so great. But she'd made a commitment and she was bound and determined to fulfill it. Even with sore feet, she still got to write, and blog, and video...all the while getting plenty of support and encouragement, even from other parts of the country.

The day of the big event arrived, and despite some hurdles, she was pretty excited and feeling "relatively" prepared. The race began, and it didn't take a very long time for Shannon to discover that her feet weren't holding up very well. Running turned to walking; walking turned to limping; limping was reduced to hobbling and grabbing any chance to sit down along the route. Now, she never expected to finish the race in the top ten. However, the plan was to FINISH the race. That didn't happen. Her feet simply wouldn't tolerate it.

What's more, in the days following the race, even more problems cropped up. Some of the muscles that she had used in an effort to "adapt" to her foot pain had been strained by the over-activity. After a visit to the doctor and time off her feet altogether, eventually she did heal just fine.

Those running shoes came with a very enticing price tag. However, their COST was considerably more. Fortunately, no permanent damage was done, and the experience brought with it a couple of great lessons. One of them is one of my personal favorites ... that "sometimes the journey IS the destination." The other, which I'm sure will prove invaluable over time, is that Price and COST are two very different animals. Personally, I'm grateful she learned that lesson over a pair of shoes (painful though it may have been) rather than over a real estate transaction!

Gotta Love that Reality TV!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 30 Nov 2008 05:15:01 -0600

I don't know about you, but I've gotten hooked on HGTV and similar programming. I love all the design shows with the transformations that they're able to perform (though I must admit, the first time I saw "Design on a Dime", it was pretty obvious that "on a dime" meant something totally different to me than it did to them). There are quite a number of those shows specific to Real Estate, too, that definitely peaked my curiosity. I've long been a great believer in "staging" a home, and "how you LIVE IN a house and how you SELL a house are two totally different animals". I've been a bit surprised by some of the "staging" that gets done where the "experts" convert the walls to bold greens and oranges and yellow and present a home for an "Open House" to all the ooooohs and ahhhhhs of their Open House Guests. Though I've thought some of those redos looked great with the current owner's furnishings, and of course made for great "TV", but I've not found that most buyers find it easy to picture THEIR OWN furniture in a home with an assortment of extreme color. And after all, isn't that the point of staging...to help a buyer "see themselves" in the house?

But I must admit, with as many shows as I've watched (generally late at night when I'm trying to fall asleep), there was one episode of "Flip this House" that nearly sent me over the edge...mostly from laughing so hard. The episode was set in California somewhere, and the "flip' was what we in the midwest commonly call a "quad" unit...you know, there are four units in a building (a first floor ranch, two interior two-story units, and a second floor ranch that's over the garages). They do come in a variety of sizes and there's some variation of the interiors, but I gather they're a popular alternative in many parts of the country.

This particular unit had recently been purchased for, as I recall, $240,000, and the new owner planned to recarpet, paint, and update the Kitchen and Bath, and put it on the market for around $300,000. Now, she indicated on the show that she'd had many successful flips in the past, so she was very excited about this particular one because is should be a pretty simple "turn around". Turned out not to be quite as simple...though not really bad either. She sold after a few weeks on the market for $280,000...not a bad profit for what she invested and a few weeks worth of work!

Now, that may not get you particularly excited or inspired, but it certainly did me...because I had just listed a property in Glendale Heights, Illinois...that looked like the same house. As the show host was giving us a 'tv tour' of the home, it was like I was touring my own listing! I felt like calling her up and saying "Hey, have I got a great deal for you!.....basically the same house, and we're only asking $100,000 for it!!!" Now, if I only could find out if that guy who paid her $280,000 has a brother looking for the same floorplan!

Like I said, gotta love that Reality TV!

1064 Stonehedge, Schaumburg, IL - Fabulous East Schaumburg Location!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 19 Oct 2008 07:19:52 -0500

Beautiful Location, Condition, Price!

The web address for this property is: http://www.homeslady.com/1064Stonehedge

$225,000

GREAT HOME! GREAT LOCATION! GREAT PRICE!!!

Description:
Fabulous, flexible home with condition, layout, location, and price that are sure to please!!! Backing to its beautiful park setting, this spacious townhome delivers!!!! From the towering vaulted living room with woodburning fireplace that overlooks the formal Dining Room, the Eat-In Kitchen, and the first floor Den / Bedroom 3, it'll be easy to forget you're not in a single family home!!!

Location: Colony Lake

New or Resale: Resale

Type: Townhouse

Price: $225,000 BEST BUY!!!

Address: 1064 Stonehedge

City/St: Schaumburg, IL

Zip Code: 60194

Bedrooms: 3

Bathrooms: 1 full, 1 half

Square Footage: 0

MLS#06980310

Living Room With Vaulted Ceiling	Dining Room
Kitchen Eat-in	Den Could be Bedroom 3
Master Bedroom	Rear Yard

The Landscape of Real Estate is Changing - One ACRE at a Time!!!

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Sun, 19 Oct 2008 06:57:07 -0500

It's no secret. Our industry is being transformed. With online venues cropping up faster than warts on a toad offering the consumer the answers to all their real estate needs for the price of a wing and a prayer, our industry is being challenged as never before. And those challenges are increasing exponentially.

For years now I've believed that we, as an industry, have to be more pro-active in listening to what the consumer wants and in transforming our businesses in ways that better meets their needs. The fact is, we ARE being transformed whether we like it or not. And the longer we stubbornly bury our heads deeply in the sand, the easier we're making it for these pseudo-services to replace us. The "big box" businesses may offer a good option in retail, but when it comes to real estate, they have serious shortcomings! That prospective home buyer or home seller certainly can take on some of the responsibilities that have historically been left to the real estate agent, like creating flyers, newspaper ads, a web presence for their property, having signage, driving past homes that might interest them, etc. The proliferation of technology tools and services has made such things simpler and more affordable than it was even a couple of years ago. However, NONE of those options give the consumer what they need most from us...and the things that make the BIGGEST impact on their home sale or home purchase, like:

Our fiduciary representation
Our understanding of the market, the competition, local trends, financial climate
Experience in navigating the entire process of home buying or home selling
Negotiating skills in the midst of what is, for most consumers, an emotionally charged situation
Our undertanding of what is (and more importantly is not) in their best interest to disclose to someone who is (or might soon become) the "other" party in a negotiation
Our specific understanding of their particular needs and how those needs are impacted by the terms of a real estate contract
Our ability to translate that understanding into the language of a contract and the negotiations themselves

Recently, a fabulous agent in the Baltimore area, Margaret Rome, created a wonderful post telling folks about her affiliation with the ACRE Consulting program and how it's impacted her thinking and her business. It was a terrific post and has gotten people thinking (consumers and agents alike). Margaret is an innovative, resourceful, highly skilled agent who, like many of us, came to the conclusion that there must be a better way! And rather than sitting back and waiting for someone else to transform the industry she's loved and served for many years, she decided to take the bull by the horns herself and do something that made sense for her business AND for the clients and customers she served.

So, what is ACRE and why does it make so much sense for both the agent and the consumer? Well, first, ACRE is the anacronym for Accredited Consultant in Real Estate. At its core is the mindset that real estate is not a "one size fits all" industry. Not every seller or buyer or every situation needs to be handled in exactly the same way. The consumer has a right to have choices in what services they want and how they are going to pay for them. We call this "transparency". For many consumers, regardless of the options offered to them, the "commission" option where the agent is paid based on sales price with payment at the close of escrow will always make sense to them because it affords them the "protection" of deferred risk. If the home doesn't sell, or the sale doesn't close, the services they received were free to them (though they certainly had a high cost to the agent performing them). That's why commissions must be high enough to be a good incentive for the agent.

The consumer, when the information is provided to them realistically, does understand the concept of "high risk, high reward". What they typically do not perceive, however, is that their prospective transaction is high risk. The typical seller generally believes "of course my house will sell...so where's the risk?" and the buyer believes there's no inherent risk with working with them as buyers either! It's only when the are presented with "options", though, that the begin seeing the risk! When you say to a seller "commissions are what they are because there's always the risk that the home won't sell, or that something will go wrong with a transaction and it will not close, and if that happens the agent investing all their time, talent, and marketing dollars will get nothing in return", but you may be able to pay less if you are willing to reduce that risk by paying for services when they are provided or by making up-front non-contingent payments" (so it becomes their money being put at risk), that's when it hits home - they now understand the level of uncertainty in their prospective transaction.

875 22nd Street, Lombard, IL 60148

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Thu, 02 Oct 2008 05:41:36 -0500

First Floor Luxury Condo with Courtyard View, Located minutes from Oakbrook Center

875 22nd Street, Lombard, IL Luxury 1 bedrooom 1.5 Baths $275,000

Beautiful first floor condo situated overlooking the professionally landscaped courtyard offers an outstanding opportunity for first time buyers, retirees, and everyone in between!!!! With its southern exposure, massive windows, and 9' ceilings throughout, this lovely home takes full advantage of warm sunlight and the changing seasons!

For extensive additional information, including virtual tour, many more photos, full color Feature Showcase, and more, CLICK HERE!

Welcome to our ACRE Group

Judi Bryan - Your Chicagoland Connection (Executive Realty Group) — Tue, 18 Mar 2008 20:41:18 -0500

For many years I've lamented about some of the outside influences impacting our Real Estate industry and have long believed that, if we don't do something as an industry to better fill the needs of the consumer, someone else will! And we may not particularly like what those things are. What's worse, many/most won't even be a good thing for the consumer!

We're all traveling at lightning speed on the 'information superhighway'...but I learned a long time ago that "information" isn't the same thing as "knowledge". Much of the "information" is simply wrong...and even more often it's out of context for what we need! So how do we know what is the best information for our own needs?

Well, a bit over a year ago, I decided to do something about it. One of my favorite sayings is "if you're not part of the solution, you ARE part of the problem" ... To paraphrase a famous saying by Sir Edmond Burke, "The only thing necessary for the triumph of [chaos] is for good [people] to do nothing". What I decided to do is to become (and become involved with) ACRE (Accredited Consultant in Real Estate). ACRE(r)s motto is "Transforming the Real Estate landscape ... one ACRE(r) at a time!" This benefits the consumer because it recognizes that consumers have a variety of real estate related needs (not all of which even involve a buying or selling transaction) and our industry has not seen fit to recognize that fact. Besides that, many of the consumers who DO have transaction-related needs have a whole host of different circumstances. As an industry, we've taken the "one size fits all" approach basically saying "if you plan to move, fine...this is the commission we charge". With that mindset, we have basically disenfranchised tens of thousands of people who we could have served, basically sending them to the "wolves", simply because those consumers wanted "options". Particularly when facing one of the largest financial decisions of their lives, they want to be "consulted with"...and not "sold to"!

On the other hand, as real estate professionals, we have skills, training, understanding, and responsibilities to offer the consumer (whether they be client or customer), and we have every right to be compensated for those things. The Financial Planning industry went through much the same process some years back, and we should, as an industry, learned from what they found. At one time, Financial Planners were basically "sales people" who got paid based on what financial package the consumer purchased. Now, the "true" Financial Planners are Consultants who are paid for their time and expertise, regardless of "if" or "which" the consumer purchases.

If you're an Agent, chime in with comments and questions, challenges & solutions...you're likely to find kindred spirits here. If you're a consumer, we'd love to hear from you. Our approach is centered on "Choice" and "transparency". It's your money ... empower yourself to make your very best choices.