Four months after mortgage lenders started to tighten their standards in reaction to COVID-19-related uncertainty, Chicagoland lenders say they have yet to see a dramatic slowdown.
Sometimes it makes sense to build your own tech, whereas other situations call for an off-the-shelf solution or a vendor partnership. Which styles benefit different types of businesses and offices? Also, how can tech companies adapt to better serve the needs of real estate professionals?
Despite recent challenges, there’s a great deal to celebrate in terms of what makes it great to be a real estate broker in Chicago. We check in with real estate professionals who are passionate about our city, and hear about their commitment to building a more resilient and robust real estate community to face the future.
The contagious and debilitating nature of the virus has forced agents to adjust their business practices and marketing strategies to reach current and potential clients.
Under ideal circumstances, purchasing a home for the first time is daunting. Add a pandemic to an already competitive marketplace, made up of rising home prices and low inventory, and the obstacle course becomes downright forbidding.
With the cost to buy and own a home rising rapidly in Chicago, some residents see developers and real estate brokers as the enemy. But the true picture is much more nuanced than that.
Chicagoland’s luxury market is still active. Buyers who can afford high-end housing are still willing to take their time and do their homework while seeking the perfect property to meet their individual needs. Agents who are prepared and who have deep knowledge of the luxury market are well positioned to help them in their search.
If you think the only reason agents engage in open houses is to appease sellers, you’re looking at the process all wrong. Smart brokers have figured out how to employ a multiplier effect to this age-old real estate technique to help power their business for the long haul.
What does the Chicagoland real estate industry look like, and where is it headed? Those are the questions we hope to answer in our annual reader survey, conducted from Feb. 16 to March 15 this year. In our Truth About Agents issue, you’ll find demographic data, but also what amounts to a finger on the pulse of the local market.
The word “disruption” has become somewhat cliche in real estate, but that doesn’t mean it’s not a real phenomenon. Lawsuits, venture capital, tech companies and shifts in consumer patterns all threaten to displace agents from the transaction. How can brokers and real estate companies prepare?