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How have the new alternative sales methods that are becoming increasingly popular affected your business?

by Chicago Agent

“I am finding my short sales buyers are getting more and more impatient with banks and their response time. I have three buyers right now who have waited for nothing in return for 90-plus days and have begun to look at other properties like it’s burning a hole in their pocket.

I can’t say I blame them, but they always find a way to blame me for the log jamb, the lack of agent response and the slow turnaround time in paperwork, no matter how well your follow up is. You’d think the banks would have fixed that part of the process by now, but it’s clearly an area of non-concern for them.

I joined our education committee in the hopes that we can make positive change throughout the industry, including our communication skills with each other. We’re all held accountable.”

DAN NOLAN, SFR, SHORT SALES & FORECLOSURE RESOURCE NATIONWIDE REAL ESTATES SERVICE, EXIT REALTY ADVANTAGE, ARLINGTON HEIGHTS

“This change in the market has turned our whole business upside down. You can no longer “dabble” in real estate. You need to have a very clear understanding of the market to provide real help for your clients whether they are foreclosures for the banks, short sales or a traditional listing. Without this knowledge, clear understanding of the market and the ability to effectively communicate this, you risk costing your clients literally tens of thousands of dollars.”

RICK O’CONNOR, THE RICK O’CONNOR GROUP, REALTY EXECUTIVES CORNERSTONE, CRYSTAL LAKE

“At the height of the market, I began renting out units for a neighbor who owned various multiunits in the West Town area. I said to him, ‘let me show you that I can get you more money for these apartments, better tenants and I will charge you half price.’  Starting with one or two units turned into the turn over of the majority of his apartments. As the market shifted, I decided to open my own brokerage to focus on rentals, with an arm for the typical real estate brokerage. I obtained my brokers license and opened The Rent Doctor and TRD Property Group in January 2009. Picking the worst time to open a real estate brokerage and formulate a new model for the rental market was a challenge, but I made it through the first year by using my personality, perseverance and ‘give it to me straight’ attitude. The fact that I am a small, woman-owned business and can give these rental clients 100 percent attention from beginning to end has been the primary reason people have chosen my company over others.“

LAURA RENALDO, OWNER, THE RENT DOCTOR & TRD PROPERTY GROUP INC., CHICAGO

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