Disappointment Creates Opportunity

Roosevelt Collection, a 342 unit new construction condo building in Chicago’s South Loop is now going to be rental apartments according to this week’s Crain’s Chicago. Many new construction buildings sold as condominiums are ultimately ending up as rentals.

There is always a positive out of a negative.

The purchasers who entered into contracts on these units at the height of the market should look at this as opportunity. They now can take advantage of today’s prices and inventory. Currently on the market buyers can get new or almost new units and take advantage of historically low interest rates especially in neighborhoods like the South Loop and West Loop where the inventory is plentiful and full of brand new buildings with empty units.

To view Chicago's listings click here.

Chicago Open Houses Saturday and Sunday, April 25 and 26

Open houses are always a great way to to learn about the local real estate marketplace and meet your local Realtors. Pictures are never a substitute for actually seeing the space.

This Weekend's Open Houses:
Saturday and Sunday, April 25 and 26, 11am-4pm Fletcher Row Townhomes:

Model at 2452 W Flethcer, Chicago

Sunday, April 26:
Noon-2pm Edgewater: 5555 Sheridan Road, Unit 316, Chicago
1pm-3pm West Loop: 111 S Racine, Chicago
1:30pm-3:30pm Lakeview: 3330 N Ashland, Unit 2, Chicago

Start your Chicago home search at http://hotpropertychicago.listingbook.com/.

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This morning I attended the Chicagoland Chamber of Commerce’s Business Leaders Breakfast. The panel discussion was the “Art of Negotiation” featuring Cliff Stein, Senior Director of Football Administration & General Counsel of the Chicago Bears and Dave Hanna, President of the Chicago Association of Realtors. Both are agents with fiduciary duties their client. Although one negotiates contracts for football players and the other for real estate, the message was the same. It is the skill that comes from experience and preparation resulting in a successful negotiation.
Both men articulated the same course of action in their own way. Stein’s process was identifying the parties, the goals, the rules of engagement, preparation and the how to structure the plan. Hanna said it this way: Identify the client, the goal, the process, expectations and the negotiating strategy.
What I walked away with was as an agent for my clients, I am an advocate. My advocacy comes from the skills I have learned through my experiences in the many transactions I have participated in, what I have learned from others in the Realtor© community and putting that game plan in place for each client I represent.