A History Lesson

by Chicago Agent

By Agent X

Since this is Chicago Agent’s Association Issue, Agent X has decided to provide you loyal readers with a history lessons. I can hear those groans from here, but there is nothing wrong with a little educational lesson before being showered with the latest gossip.

A quick trip to the National Association of Realtors (NAR) Web site can do wonders for your real estate knowledge. Agent X was excited to read that NAR was founded as the National Association of Real Estate Exchanges on May 12, 1908 in (drum roll) Chicago! There were 120 members, 19 boards and one state association. According to NAR’s Web site, the goal was “to unite the real estate men of America for the purpose of effectively exerting a combined influence upon matters affecting real estate interests.” Sounds good to me.

The Code of Ethics, which we all should know backwards and forwards, was adopted in 1913. Agent X is a big fan of gossip, but Agent X knows what is and isn’t ethical to print. If I didn’t follow my own code of ethics, there would be a lot of angry Realtors out there.

Another fun fact from the NAR Web Site is that the term “Realtor,” which identified real estate agents as members of the National Association of Real Estate Boards and followers of the Code of Ethics, was created by Charles N. Chadbourn, a past president of the Minneapolis Real Estate Board. The word was first used to designate members of the Minneapolis association. The Minneapolis Board gave the rights to the word to the National Association in 1916. Are you paying attention readers? There will be a quiz at the end.

Two more fun facts for you then we’ll head on into the good stuff. First, in 1967 dictionaries began to list the definition of Realtor as a member of the National Association. Then, in 1974, when many of the Chicago Agent staff wasn’t even born yet, the name of the National Association of Real Estate Boards was changed to the National Association of Realtors.

That’s all folks, now you can impress your friends by spouting off these facts at the next Chicago Agent event. Now for the juice: Chestnut Homes hinted that a new project in Downer’s Grove called Villas of Woodgrove would be announced next month if city approval goes through. Villas makes it sound like it’s in Italy, don’t you think?

Draper and Kramer held the new model grand opening at Lake Park Crescent with a great turnout (4 percent commission draws quite a crowd). We just hope the mirror malfunction didn’t lead to a lawsuit.

Speaking of 4 percent commission, Rick Levin & Associates announced the same commission on most properties being auctioned off on April 10th. Mckinley Park Lofts is also offering 4 percent commission to the first 10 sales. I guess four is the new magic number.

Magellan’s Lakeshore East Sales Center and Gallery hosted the kickoff to the Leukemia & Lymphoma Society Man and Woman of the year fundraising competition. They also announced the finale will be held at the River East Art Center on June 6th. I’ll see you there.

The Greater North Michigan Avenue Association held their quarterly luncheon at the Drake Hotel with Ivanka Trump as the guest speaker. While she was there, she mentioned Trump International’s next big step will be moving into the Chinese market. Agent X tried to get some one-on-one time with Ms. Trump, but she was whisked away before there was a chance.

Agent X wants to give a special shout out to Jennifer Peterson with Norwood Builders, who was unable to list Norwood’s available new constructions in our previous issue because she was out of the office. That’s a lesson to all of you not to go on vacation any time around Chicago Agent’s New Construction Issues. Visit norwoodbuilders.com to see those entries that couldn’t be included.

There are absolutely no April birthdays, sorry folks. Actually, Agent X is just holding the birthday’s hostage this week. I’m protesting the lack of e-mails being sent to agentx@chicago.staging312.com. If you don’t have any gossip, then just send information about an upcoming birthday! Agent X loves getting e-mails.

Agent X
Keepin’ the “real” in real estate

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