Monthly Archives: August 2007

Another Agent Rejoins

We just had another agent rejoin Charles Rutenberg Realty after having tried another firm that sounded appealing but, in reality, imposed constaints that limited the value she sought to deliver to her customers. The business philosophy of Charles Rutenberg Realty is that it is the agent who is the driving force in the real estate business and, as such, is the person who should make the buisness decisions relating to the client. We don’t add miscellaneous additional fees in order to add income to the bottom line. We make money when our agents are successful and our agents are successful when they solve their customers problem. It’s the way the real estate business should be handled. We are proud to be a firm that does so.

Best regards,

Ray Zabielski, CCIM, e-Pro, RECS

Does Your Realtor Have Authority?

With market conditions as they are today it is critical that real estate agents are truly in control of their business so as to be able to fully assist their customers in the purchase or sale of their home. When you, as a seller or a purchaser, are in the market be sure to confirm that your agent has the authority to structure his or her services in a manner that allows you to fully meet your goals. The defining factors should be what is important to you and not whatever limitations a company may place on it’s agents. At Charles Rutenberg Realty we are proud of the fact that our agents are all Realtors and that they have the authority to run their business as they see fit, so long as it is run in a moral, legal and ethical manner and never jeopordizes the good name of the company. If you need to find a Realtor to help you with your business you can search here for one of over 800 Realtors who have joined us in the last 37 months.

Good luck and best regards,

Ray Zabielski, CCIM, RECS, e-Pro

Times are a Changing

It is quite interesting. Charles Rutenberg Realty is a company built on the premise that it is the real estate agent that generates the business so it is he or she who should keep the vast majority of the  earned fee. This concept has appeared to be heretical by many of the “traditional” firms who are trying to maintain the status quo where the agents effectively earn less than minimum wage! But now, times they are a changing! Just yesterday I met with an owner of a well known national franchise and she is seriously considering selling her company and joining Charles Rutenberg Realty.  Why would she do that?  It is simple. If you can earn more money with fewer expenses and headaches, it is a no brainer of a decision. I look forward to welcoming her into the company soon.

Ray Zabielski

Market Concerns are Illusionary

Mortgage loans are no longer readily available. Is there a valid reason for this? No! The current “crisis” is all emotional. That doesn’t mean it isn’t real though. Lenders have pulled back because others have pulled back. The underlying economics don’t support these decisions but, until everything cools down the availability of loans will be limited. At some point however, the pressure to get the money out will cause a “far sighted” firm to take the lead and be the first to step back into the market. They will do well, picking up all the pent up demand for loans. Others will then move to get their share as well and the market will then be back on the road to being balanced and responsive. The challenge is to hang tough until then. Hopefully it will be sooner rather than later.

The Market is Reacting

While many reports are coming out about the Chicago real estate market with various results, our records show there is an increasing spread between what sellers are seeking (listing price) and what they ultimately settle on.

In 2006, in the nearly $260 million in Charles Rutenberg Realty sales, the average property sold for 97.46% of the listed price. In 2007 that figure dropped slightly to an average of 96.22% for January through May. In June, however, the figure dropped to 91.14% and in July it dropped again to 84.35%!

As we move into the future this figure will move back up as sellers realize the new market is real and adjust their asking prices but, until then, there will be much anguish in the sales process as buyers and sellers seek to meet each others expectations.