RIS Media’s recent post – click here brings up some great points when looking for a relocation agent to help you sell your home in Chicago - For each agent working the Chicago real estate market 2009 will be a year of self fulfilling prophecy. It will be what they make of it. As Mike Parker says “Your 2009 will be what YOU make it. The sky is not falling and you can be sure that many people will succeed in 2009, just as many continue to succeed, even now.”
So when choosing an agent, ask them what they think of the 2009 market and how, within the parameters of the market, they can sell your house. It’s ok if they’re “bearish” on the market, as long as they have a plan – aggressive pricing, online promotion, etc. – to counter it.
You can ask them some questions on how they will market your Chicago property – Do they have a personal website? Does their company aggressively invest the dollars (and more importantly – the time) in search engine optimization? Will your listing have its own personal landing page on the website? Is their site mobile-enabled?
An optimistic (or at least focused and realistic) agent is a valuable asset.
I try to draw this parallel: I’ve been skydiving a few times in my life – each time I’ve jumped “tandem” where you’re strapped to the instructor. I’ve always asked – “Are you optimistic about this jump? Are you and your girlfriend in a fight today?” If either answer is “no” I would suggest finding another instructor! You’re both in this together. So make sure your agent is optimistic about selling your home, or seek out a new one!
When it comes time to relocate to Chicago more often than not that means downsizing. Unless you’re coming from a New York, Boston or San Francisco market, your money may go a bit farther in the place you’re leaving than the place you’re coming to.
Not that downsizing is all that bad. As someone who pays for the guy to mow the lawn I seldom walk, and rake the leaves I see out my window, there’s an appeal in a smaller (or non-existent) lawn. According to Runzheimer International a family of four who downsizes in Chicago from 2800 SF to 1800 SF will yield approximately $1281 in utilities savings and $4,545 in property tax savings annually (that’s a total of over $5,800 ). Well, there’s your IRA contribution!
In addition, as www.zillow.com reports, smaller homes have shown a great annual appreciation (5.2%) than smaller homes (3.5%).
There are always two sides to every story. Presumable you’re moving from a big suburban home to a city condo. The flip side of that “quality of life” and minimal commute may be hundreds of dollars each month to park that seldom used car (and a jump in insurance costs to boot); or the addition of condo association fees. But at as we read the reports from “black Friday” – consumers will buy enough to fill up any space they’re in….so isn’t it smart to see the advantages of a slightly smaller space?
John D’Ambrogio, of Rubloff, attended a retreat at the Water Color Inn & Resort at Santa Rosa Beach in early November entitled “A Sandy Feet Retreat.” Leading real estate companies from across the country attended the three day session. Their main goal was to brainstorm, share ideas about the real estate industry, relocation trends and how it affects our business in today’s real estate market.
All leaders in the real estate industry, they discussed the various aspects of relocation regarding building relationships around the globe, service levels when working with corporate clients and shared ideas to further increase the effectiveness of their relocation services divisions. Speakers included Bud George, Director of Education and Training for Bob Parks Realty, Dawn Moliterno, President and CEO, Walton Area Chamber of Commerce, Mel Ponder with Vision 3000 Walton County Visitors & Tourist Development Council.
John D’Ambrogio, CRP and Director of Relocation Services Rubloff stated: “It is always beneficial when leaders within the industry gather with their peers to exchange ideas regarding industry challenges and operational efficiencies. The companies who attended this retreat are all established and proven leaders in our industry and join Rubloff in their ongoing commitment to excellence.”
Rubloff is a full-service real estate company with 7 residential sales offices located throughout Chicago and Michigan. Rubloff is recognized as one of the top real estate companies in the Leading Real Estate Companies of the World™ Network. They have an office located at 980 N. Michigan Ave. Suite 900 in Chicago and their web-site is www.rubloff.com.
The labor department estimates that today’s kids will have 10-14 jobs under their belt by the time they’re 38! Why? Technology’s growth, for one thing. Consider that for students enrolled in a four year tech school - a full half of their education will be outdated before they graduate!
In the five minutes it takes you to watch a video on mtv - 67 babies will be born in the US; 274 in China; 295 in India…and 700,000 songs were illegally downloaded.
I think it’s time to buy some investment property!
What should you look for when relocating? Obviously one of most important choices is your agent. A good “marriage” of client and agent is essential. But how do you do that? Most Chicago real estate companies have a relocation team that helps make that decision based on a phone or email consultation.
What about the back-end support that your agent will provide? Here are a few of the elements you should look for in your Chicago real estate company, whether you are looking for a home or selling your home
Consider their technology Find a leader in marketing technology. Here is a sample of programs and support systems that you should look for:
The website should also be able to viewed on mobile devices so you can call up listings while walking through the neighborhoods looking at properties. In addition, each listing should have its own website and has its own unique web address displayed on the ‘For Sale’ sign
All listings should be professionally photographed and quickly and automatically distributed to many different portal websites. Ask you agent if they employ a comprehensive Search Engine Optimization program including adwords, keywords, metatags, blogs, and social networking ensuring that your listings are coming up first in web searches
In addition, make sure you agent has access to an ecommerce manager who can work with them on social networking, “eblast” programs & blogging to help you promote your listing if you’re going to be selling your property.
In Chicago’s competitive real estate market, make sure you have a relocation deparemant and agent that work for you!
Many of us use LinkedIn and various other social networking sites because we hear it everywhere that we need to but do we really understand the value of it? Here’s a quick insight into LinkedIn to get you started.
OK, you’ve listed you Chicago condo or home with an agent, you’re priced it right, and you’re going to be relocating soon. So now the agent comes by with the “for sale” sign which has THEIR name, THEIR number, and if you’re unlucky it may also have THEIR photo. What about your home? Where is a picture of YOUR home, pricing info on YOUR property, or photos of YOUR lovely interior?
Maybe they have a number where the consumer can text for more info — in which they’ll get a text or sms message returned to them with text on your home - probably not pictures. And of course it’s a great marketing tool for the listing agent b/c it gives them a consumer’s phone number who they can then pursue as a buyer’s agent (how this helps you I don’t know). I feel the development of Rubloff’s Individual Property Website ( IPW ) is the better solution for someone selling their property in Chicago. In essence, the consumer walking by with a handheld (and they still do walk the neighborhoods, and they all have handhelds) want info NOW. And if they’re standing in front of 123 Main Street they can plug that address, www.123main.rubloff.com (as opposed to a non-related “web id” number) and get relevant info (price, taxes etc.) and INTERIOR PHOTOS (consumers do love photos) without giving their info to an agent. Best of all it’s in a mobile-formatted design - pictures are sized correctly, it’s easily readable on the handheld, and INTERESTED agents can “click to call” the listing agent.
Think about that if you or your company is going to be listing a home in Chicago.
The “relocation business” may be down in Chicago - depending on how you spin the numbers. As a transferee moving into or out of The Windy City there may still be some cause for concern. Sellers wonder - “Will I sell my home in Lincoln Park?,” “Will foreclosures in The Gold Coast affect the appraisal on my home?” On the other hand, I’ve seen some buyers come in with an entirely different set of problems.
We’ve had buyers who are ready, willing and able to buy homes in some of Chicago’s most popular neighborhoods, Wrigleyville, Lincoln Square, Streeterville, affected by their homes “not appraising out.” As they say, it’s hard to catch a falling knife, so estimating the value of a home on a day to day basis in this market is a challenge for even the savviest appraisers. (Note to relocation companies - Please use a LOCAL appraiser - Most of my experience with homes not appraising out have been with appraisers from outside the immediate market - and Chicago real estate has many many microcosms).
But despite what you may hear, the economy, globally and locally, still has many strengths. This is NOT 1929 Ultimately, Free Market Capitalism will “save” Chicago relocation. For Rubloff Relocation, the actual number of people we’ve moved has remained quite stable. The difference is that this is the highest volume of renters we’ve experienced in recent history. So all that money is simply sitting on the sidelines, waiting for the right time. That’s a bitter pill for real estate agents, third party employees and the plethora of affiliated business to swallow — But the market will eventually straighten itself out in terms of supply and
demand, and as my friend and colleague Eric Bryn of Leading Real Estate Companies of the World told me - Get ready for a seat at the biggest real estate buffet in history — Of course the first reservation at that table might not be ‘til 2010!But all of these renters are prime candidates in 2010 (and yes some in 2009) to jump back into the game. If the Fed and the mortgage industry can keep rates modest, and if sellers and buyers can find a common ground, the market will return…..Like the phoenix from the flame.
While relocating through Washington DC just before the election on a Segway Tour, relocation professionals John D’Ambrogio (Rubloff - Chicago), Kim Givens (William Raveis - CT), Kevin Moen (Airvan - WA), Lisa Rhead (Helen Adams, Charlotte), John Carbonell (RMR, CT), Sharon Michnay (Halstead, NYC) and Allison Harvey (Arizona Best, Scottsdale) were interviewed by DC channel 9 with their opinions on the election.
