Why would you want to register on a website?

Today, I received a call from a potential buyer, who seemed irritated ( I'm not sure that the right word, maybe frustrated is a better word )that they had to sign in to view more information on a web site.

I explained to the buyer they could go on to Realtor.com, which is owned by Homestore and has a license to use our name. Unfortunately, the information is generally out of date, painfully slow because of all the ads, and doesn't let you know if the home is under contract or contingent on a sale or close. I told the buyer they could use another site to view a sampling of a company's agents listing, but if you want to view all listings of various companies, you are required to register which was set by the National Association of Realtors rules.

The system I was thinking about is an IDX, Internet Data Exchange, which has an opt in or opt out feature for the various brokerages. The listings usually have in very small print, "Compliments of another company". The "Other Company" has opted into the exchange, hoping that traffic will come their way with the exposure. About 85% - 90% of all the listings in the multiple listing service are in the local IDX systems.

The second option is a VOW (virtual office website) or a direct MLS connection by the Realtor. These solutions require a sign in and password. These are the ultimate in home information, but just like coming into my office and giving me your criteria, I'm going to have to get some information about you and your needs. The National Association of Realtors have set a national policy that vows or mls connections require a registration (your name, phone number and email address at the very least).

It's not a matter of you giving up your anonymity.I see registration is empowering you with information to make good choices. The payoff for the Realtors is that we hope you grow comfortable with us and our services, that over some time, you will choose us to be the "right" REALTOR to help you with the process. I'm happy to report that the buyer decided to try out this exchange of information that I may have and therefore they can contact me with questions or signs they see on the street and why it may not have showed up in their search. And as I told them, they can unsubscribe any time they want if the system doesn't work for them.

Rent vs Own

There are some basic rules of real estate, which I'm sure you have been told:

1. Location, Location, Location
2. Buy the least expensive home in the best neighborhood
3. Purchase what you can afford.
4. It is better to own than to rent.

The last sentence seems to be facing some challenges with our soft market, but I believe it's as true now to own rather than to rent. as long as you realize, it is a long term investment. Lawrence Yun, chief economist for the National Association of Realtors reported the following data from the Federal Reserve, "The median wealth accumulation for renters from 1995-2004 was $4000. The median wealth accumulation of a homeowner was $184,000". If you know you'll be living in a place over a few years, it's foolish not to own, in my humble opinion. There is an income tax deduction on the interest paid, and assuming you pay principle in your mortgage payment, you are increasing equity in your property. Both of these facts happen, even if the property does not appreciate, (increase in market value0, at all.

We are in a correcting market for the past two years, but the sales data from MLSNI is showing signs of more pending sales, and more closings. What should you do? First, get some expert advice from a professional Windy City Realtor. This Realtor will guide you to buy the best value, in the strongest location with the least risk of detrimental conditions, at a fair price. We show you the latest comparable sols, price trends within neighborhoods and towns. Secondly, talk to a mortgage originator recommended by your Realtor. Start thinking of budgeting maintenance, and repair costs of home ownership--at that, consider either negotiating a home warranty from the Seller or buying it for yourself. Third, you must do an inspection. Your Realtor maybe able to see some faults of a property, but a good home inspector will be looking at the guts of the home, and will explain during the inspection maintenance issues. Fourth, don't rush the process. Have a criteria for purchase and shop for a few homes, it's great to have alternative properties while negotiating.

The market has a great selection and prices have come down in many neighborhoods. In short, there are some great buys available right now! Take advantage of this opportunity in the market: It is better to own rather than rent in the long run.

Happy Thanksgiving

I just wanted to express my sincere gratitude and thanks to all who have helped me in my career as a REALTOR. I don't think you can have a successful career in business without the help of our fellow REALTORS as well as our friends to bounce our ideas and thoughts to. I'd like to thank my sellers throughout the year for their patience with the market as well as their thoughtfulness and comments, and allowing me to serve you in marketing and information. I would also like to thank my buyer clients as well as my customers for allowing me the opportunity to serve your interests. I wish you a wonderful day to visit with your family and friends.

I'd also like to thank Judi for all her hard work, her knowledge and time in starting this blog for the group. I am extremely grateful for her "walking me through" the start of this blog as well as our website, http://www.windycityconnectionhomes.com which will offer our sellers more portals and exposure in the internet. Thanks again and again.

A Public Real Estate Forum

Monthly, for the past 16 years, The Windy City Connection Mentoring Group has been exchanging ideas, thoughts and has been sharing our business strategies in the market. This exchange of ideas started out in keeping each individual on track with their goals, and as a group we tried to help each other in our separate businesses. The value of this group is immense! The growth we have all had through the years in our business, and personalities has enriched our business as well as our lives. We've been thinking about a blog, first as a private forum for the Windy City Connection Mentoring Group to exchange ideas virtually then we decided to make this forum public. The benefit for our posting public is really twofold:
We will learn how to serve you better by reading your comments and questions in your posts and you have the advantage of getting our various answers to your questions by truly educated, thoughtful Realtors, that I am proud to call my friends.

Welcome!!!!

Windy City Network, originated in 1991, is a well established network of full time, professional Realtors from the greater Chicagoland area, committed to the sharing of ideas and resources with the objective being Excellence of Service to their Clients and Customers.

As full time, professional Real Estate Agents in the Chicagoland marketplace, we're here to be YOUR REAL ESTATE RESOURCE! Feel free to ask questions about topics included here...or add other real estate related subjects that are of interest or concern to you. We'll be happy to respond. We service a variety of areas and price ranges in the Chicagoland area....and represent a wide range of expertises. It is our hope that you will find us an invaluable resource and come back to visit and POST often!