Sunday, November 26, 2006

Can Your Broker Sell?

I post on this site from time to time when I happen across something worth passing on to the new or 'soon to be new' agent. Yesterday I was having a conversation with another Realtor from another brokerage when she mentioned how when she first started in the business "it was sink or swim...but mostly sink!" She genuinely felt that it was pure luck that she even made it through her first six months. Her managing broker, she said half jokingly knew less than she did.

"At least I sold Avon when I was younger," she said. "I'm not sure he ever sold anything."

Its been my experience that 'those who can't sell manage, those who can't manage sell, and those who can't manage or sell fail.' It sounds a little corny perhaps but I believe its right on the money. Most managing brokers I've met either sell very little or if they ever did produce much, it was a long, long time ago. And it's becoming pretty typical that the business model of a real estate office these days is more focused toward 'body count' than 'vertical' growth of its exisitng agent force. Anyone with a little bit of captial (and even less sales experience) can actually buy a franchise and be up and running in a month or two. Good luck placing your eggs in that basket!

When I joined Joe Pinto in the year 2000 I did so for two basic reasons. First, he was genuinely interested with helping his agents succeed in the Chicago market and secondly, he was one of the top producers in the city--(and still is). Even though its my goal to negotiate 1 million to 2 million a month every month in real estate sales (not a rookie, to be sure!) I still consult with and defer to my broker on a daily basis. Why? Because my broker can sell. And a primary reason that I've had any success at all in this competetive arena (10,000+ Chicagoland licensees) is that my broker wanted me to succeed.

I've mentioned before in a previous post that 'national company branding' has very little to do with success in a localized market such as the Northside of Chicago. It's my observation that the 'boutique' brokerages are much better positioned to address the needs of both the client and the budding real estate professional. So let me ask you...'Boutique' or 'Big Box'? Where do you see yourself?

contributed by Geno Petro

Monday, November 20, 2006

Third Quarter Metro Home Prices Improve!

Its just what I've been saying all along---what is happening in other regions of the country is not necessarily applicable to an urban market like Chicago! News released today out of Washington
reports the turning of this media fueled tide. Chicago is a city that has consistently held its own, even during the past 12 months of national price corrrections.

Realtor Income vs Corporate Sales Exec

Here's an interesting study I came across in The highest paid executive listed in this table makes the equivilant income of a ten million dollar a year annual producing Realtor in Chicago. (We have more than a few of these in our office.)

In fact, many of our second year agents' incomes are equal to those who have attained the position of 'Marketing Director' according to the article. The opportunity to excel in real estate sales in the city of Chicago continues to present itself, especially as the upper rungs of the corporate ladder get crowded and even a little 'slippery' (depending on who immediately surrounds you on the way up and down!) Question is, will you recognize it when it appears.....?

image by ricommunity

Words From A Top Producer

My name is Geno Petro. I began my real estate selling career with Joe Pinto in the year 2000. Each year since joining his organization my production volume of closed real estate transactions has increased by a double digit percentage over the previous year. The technology and lead generation program in my opinion, is second to none in the city of Chicago. Check us out... provides all the support necessary to become a top producing Realtor.

I am perhaps the least computer savy person you'll ever meet but if you click on my blog, Chicago's Home Weblog you'll see how the support system of Chicago Home Estates can help position you in this technically competitive marketplace. You will be provided with a blogging template and assistance from other top producing Realtors to help you get started. Its one of the many tools provided to help you establish a presence as you begin this rewarding career.

The company philosophy and Open House marketing strategy is another unique characteristic of our organization. We are a 'boutique independent' brokerage. We believe that in this Chicago market it is an advantage to be unencumbered by 'Corporate Policies' and 'National Marketing Programs' that have really, little or no effect on the local level. Chicago is clearly a city of neighborhoods and it takes a neighborhood brokerage to provide expert guidance in the buying and selling of a home, not an 'International' division of home ofiice people. Anyway, this is how I see it and it works for me.

Take a tour of our website and see what I'm talking about. Contact Joe Pinto directly or simply drop him an e-mail. The office is gearing up for 2007 so give it some thought and give us a call. The new year is fast approaching, as they say. And we all know, there's no better time than now to make a change!

contributed by Geno Petro

What Agents Say Who Have COMMITED To What We Offer

The following testamonials are but two examples of agents who were going nowhere with their previous companies. Both have been with us now for over three years and are recognized each year by the Chicago Association Of Realtors as 'Outstanding Achievers.'

"The team environment is very much alive at Chicago Home Estates. There are real support systems in place such as a dedicated marketing effort, as well as, an ongoing training and true mentoring from Joe Pinto and other top producers to ensure an agent success. It is in stark contrast to most brokerages where you are truly on your own and paying out money left and right just to be there. I'm well into my second year and very busy. I wouldn't think of hanging my license anywhere else and consider myself quite fortunate to be a part of this team " Jeff Bergstrom Formerly of Keller Williams

"I assumed making the switch to selling Real Estate would be easy. I knew the market and had over twenty years of sales experience. But when I went to work in an office with over 100 agents, I felt alone. My broker wouldn't even call me back. At Chicago Home Estates, we work as a team, I get instant feedback, valuable guidance and all the tools I need to succeed. " Ryan Wallenfang Formerly of Remax