What do the remaining months of 2021 have in store for the Chicago real estate market — and how can brokers prepare themselves for the rest of the year?
Looking at current trends, it is clear that there is an enormous amount of opportunity in the marketplace going into the fall. Agents who commit to understanding the market and putting in the work are in a prime position to set themselves up for a strong showing through the rest of the year, while also setting up for a strong beginning of 2022.
Let’s dig into some important trends that will shape the market through the rest of the year and beyond:
Though she is still early in her real estate career, broker Kate O’Neill has already learned a lot of valuable lessons — and earned some impressive successes in less than one full year in the business.
For one thing, Kate has yet to have a buyer of hers pay above list price, “which is pretty big in the current market that we’re in,” she says. “I’m pretty proud of that!”
For another, Kate has quickly earned a glowing reputation around the Baird & Warner – Lincoln Park office for her social media savvy, particularly using Instagram as a channel to speak to her sphere, sow the seeds for long-term referral relationships, and reach her ideal millennial buyers.
“One thing with my social media that I always keep in the back of my mind is to treat it like my business card and my social proof,” Kate says. “That way, when people look me up, any potential new clients or friends of mine who know I just got started in this can see that I’m busy and that I’m actively working. That I’m constantly hosting open houses, or selling a property, or teaching them something that they didn’t know.”
When broker associate Mike Greco started looking for a new opportunity after a first career in retail management, he knew he was really looking for not just a new occupation, but a new life — one where he could be more in control of his time and lifestyle.
“I wanted to have flexibility and I wanted to feel rewarded for the time and effort I put in,” Mike explains. “And I wanted a job where every day was a new challenge and I got to spend a lot of time with people — where it was a mix of being out in the field, and only having to be behind a computer for a couple of hours a day.”
That search for a more flexible, rewarding, and active career quickly led him to real estate — and to Baird & Warner – Lincoln Park.
“I really liked the culture that Baird & Warner has,” Mike explains. “You really get the feeling of support, not only from David, Negeen, and Diana, but also from the other brokers. It’s a very welcoming community. And that’s the type of person that I am. I like winning as a team!”
Yesterday was the beginning of Pride month, and we here at Baird and Warner Lincoln Park want to lift up and honor the LGBTQIA+ community, and the rich history of activism that has helped make Chicagoland the place we call home today. Happy Pride!
Becky Sexson has earned numerous professional accolades since launching her real estate career five years ago — from being named Baird & Warner’s Rookie of the Year in her first year in business, to being named a Rising Star in Chicago Real Producers magazine, to being designated as a Top Producer in Chicago by the Chicago Association of REALTORS®.
But before transitioning from a career path in the not-for-profit space, “real estate was not really ever on my mind,” Becky says.
That all changed when she went through the process of buying a condo, which sparked her interest in the real estate. And, as she tells it, it was her now-husband who first made her believe that a career in real estate might be the perfect fit.
“He put a bug in my ear,” Becky explains. “He would say, ‘hey, I think you’d be great selling real estate. You’re really organized, a great networker, you’re really outgoing, you can build relationships and you’re good with numbers… Maybe it’s something that you might want to consider.’”
So Becky ended up getting her license and jumping into real estate, giving herself a year in which she would devote herself to building her business full-time, with the same level of dedication and planning she had used to structure and excel in her previous 9-to-5 jobs. It ended up being one of the best decisions she ever could have made, she says.
If you’ve been following the news lately, you know that there are some pretty substantial changes in the competitive structure of the real estate business going on right now. On a market-wide level, for instance, the real estate services site Zillow has recently been active in making acquisitions of smaller companies; by and large, Wall Street is having a bigger impact on what brokers do on a daily basis here in Chicago and around the country.
It is also a career path that exemplifies the old adage, “you get out of it what you put into it.” Many of the decisions you make early in your career can have an enormous impact on your future — either setting you up to create the sustainable, lucrative, and flexible business you’ve dreamed about, or limiting your capacity to grow and earn over time.
Want to put yourself in the best position possible for success? Let’s explore five pitfalls or missteps to avoid when getting started in real estate:
There are as many ways to build a real estate business as there are brokers — but in my experience, people achieve the greatest success when they invest time into executing a well-thought-out business plan that emphasizes their expertise and talents.
Here at the Baird & Warner Lincoln Park office, one of the first things we do with all new agents is sit-down with them to strategize how they want to build their business. In our office, our management team spends as much time as necessary with new brokers to help make sure their business plans and goals are ambitious yet achievable. Our management team also schedules regular check-ins throughout the year to help new agents closely monitor their progress toward their goals.