Illinois REALTOR® July 2017 by Illinois REALTORS®

JULY 2017

THE VOICE FOR REAL ESTATE IN ILLINOIS

The

Value REALTOR ®

OF A

TIPS FOR WORKING IN THE

Luxury Real Estate Market

www.IllinoisRealtors.org

Legal Issues with Multiple Offers

THE OFFICIAL PUBLICATION OF ILLINOIS REALTORS®

As a Preferred Unit Owner:

 Own  Influence  Lead  Participate  Benefit Interested in becoming a Preferred Unit Owner? Contact Rebecca Pearson at Rebecca.Pearson@MREDLLC.com or 630-799-1438

MREDLLC.com 630-955-2755 help.desk@MREDLLC.com MREDLLC.com/training 630-799-1439 training@MREDLLC.com www.IllinoisRealtors.org

CONTENTS JULY 2017

Value REALTOR

Icons by RaStudio/bigstock.com

The

OF A

p. 16

Departments

ILLINOIS REALTORS®

5 President’s Message: Vigilance Needed as Tax Reform Discussion Heats Up

Advocacy • Education • Ethics • Legal

6 What’s Online: Member Resources

Features

6 Market Watch: Low Inventories and the Illinois Housing Market

The Value of a REALTOR® Skills REALTORS® Bring to the Real Estate Transaction

9 Tips for Working in the Luxury Real Estate Market

Lifetime Achievement Award: Dan Goodwin Receives First-Ever Award for Industry Service

Member Outreach Team: Common Values of REALTORS®

8 Quick Takes: Business Tips from Spring Conference; Going Green; Illinois’ Shrinking Middle Class; RESPA and Co-Marketing 10 At the Capitol: 2017 Capitol Conference & “REALTOR® Lobby Day” 14 Legal Update: Handling Multiple Offers 24 Homefront: REALTOR® of the Year Sue Miller and local ROTYs 28 Commercial Corner: Illinois REALTORS Forge International Connections at MIPIM

31 RVOICE: 2017 REALTOR® Involvement in Elections - Making it Count 33 Ethics Citations 34 REALTOR® Community

ILLINOIS REALTOR® July 2017

Step Up Your Business

Want results? Earn the Graduate REALTOR® Institute designation. GRI represents excellence in real estate. Master your craft with advanced education:

“GRI is the best

• Legal and regulatory issues • Technology • Professional standards

Online Progra m

• The sales process Earn the designation that earns respect. You may already qualify for GRI credit!

START TODAY! www.IllinoisRealtors.org/GRI Illinois REALTORS® Licensing & Training Center is your TRUSTED SOURCE for state-approved education. All course work must be taken through the Illinois REALTORS® Licensing & Training Center except the ePro Designation Course. All course work must be completed in less than 5 years. All courses require a 70% passing score on the exams. Most courses are licensed for CE credit. All online courses will have the option of either online proctoring or at one of our approved proctor locations. There is a $15 fee to retake exam, with a maximum of two test attempts before being required to retake a course. No renewal fee is required for the GRI designation. GRI is a lifetime designation. 4 www.IllinoisRealtors.org

money that I’ve spent on my real estate education!” — Teresa Camarato, GRI Property with TLC, LLC Herrin, IL

PRESIDENT’S MESSAGE Doug Carpenter

ABR, AHWD, GRI, SFR 2017 President

POTENTIAL UPCOMING TAX REFORM AFFECTING REAL ESTATE One of the great things about being a member of the REALTOR® family is the sense of shared purpose. Not only do we work together for our clients, we collaborate on how to protect the industry. This shared purpose was on full display in May as several hundred Illinois REALTORS® made the journey to Washington, D.C., to tell the state’s congressional delegation that it must protect private property rights. Our members visited the offices of every one of the 20 federallyelected officials on Capitol Hill to tell them to protect the Mortgage Interest Deduction, renew the federal flood insurance program and make sure the 1031 Like-Kind Exchange is preserved. At the state level, our members flooded the Illinois Capitol in April to push for legislation that supports the industry. We had the largest Capitol Conference and Lobby Day in the association’s history, once again underscoring our REALTOR® family values. Elected officials understand just how politically engaged we are on the issues, and they respect our bi-partisan approach to supporting candidates who understand what we are trying to do as an industry. For all of you making the trip to Springfield or Washington, thank you. For all of those who invest in RPAC, vote or answer a Call for Action, thank you. It’s great to be part of a community that really does make a difference.

REALTORS® visit House Republican Leader State Rep. Jim Durkin (behind chair) and State Rep. Tony McCombie (far left) during the association’s annual “REALTOR® Lobby Day” and Capitol Conference. Photo credit:Terry Farmer

Carpenter in Washington, D.C., to attend NAR’s Midyear Legislative Meetings and Trade Expo in May.

(Left to right) Chicago Association of REALTORS® President Matt Silver, U.S. Rep. Bobby Rush (D-Chicago), Carpenter and Federal Political Coordinator Nykea Pippion-McGriff.

“Not only do we work together for our clients, we collaborate on how to protect the industry.” —Doug Carpenter, Illinois REALTORS president ®

ILLINOIS REALTOR® July 2017

ILLINOIS REALTORS® THE VOICE FOR REAL ESTATE IN ILLINOIS 2017 OFFICERS President Doug Carpenter, ABR, AHWD, GRI, SFR doug21@comcast.net President-Elect Matt Difanis, ABR, GRI matt@mattdifanis.com Treasurer Dan Wagner wagner@inlandgroup.com Immediate Past President Mike Drews, GRI mdrews@dossrealtors.com Chief Executive Officer Gary Clayton, CAE, RCE

WHAT’S ONLINE WE’VE GOT YOUR BACK: TAKE ADVANTAGE OF YOUR ILLINOIS REALTORS® MEMBER RESOURCES As an Illinois REALTOR®, you are part of a 44,000-member strong organization committed to representing your best interests through advocacy, education, legal services and professionalism. As a member, you have access to a variety of member benefits and resources. Here are six popular resources, but you can find the full list at www.IllinoisRealtors.org/ MemberBenefits • Free forms including radon disclosure and Residential Real Property Disclosure • Legal Hotline and free legal webinars and videos • Career counseling for your post-license and continuing education questions

Executive Vice President Luke Bell, RCE

• CE LookUp

Editor Jon Broadbooks

• Illinois housing market statistics and forecast by University of Illinois economists

Senior Editor Stephanie Sievers Content Marketing Specialist Bill Kozar Graphic Designer Katie Grant For advertising information contact Advertising & Sponsorship, (217) 529-2600, info@IllinoisRealtors.org The ILLINOIS REALTOR® (ISSN 0744-221) is published four times a year during the months of January, April, July, and October by the Illinois REALTORS®, Post Office Box 19451, Springfield, Illinois 62794-9451. Periodical postage paid at Springfield, Illinois and at additional mailing offices. Postmaster : Send address changes to: The ILLINOIS REALTOR®, Post Office Box 19451, Springfield, Illinois 62794-9451, 217/529-2600. Opinions expressed in any signed ar ticles of the ILLINOIS REALTOR ® are those of the author and do not necessarily represent the opinions of the Illinois R EALTORS ®. Adver tising of product or services does not imply endorsement. Advertising rates are available at www.IllinoisRealtors.org or on request. Annual dues of every REALTOR®, REALTORASSOCIATE®, and Affiliate member includes $3 for a oneyear subscription to the ILLINOIS REALTOR®.

Like us on Facebook. Join us on LinkedIn. Follow @ILREALTOR and @ILREALTORmag on Twitter. Follow @IllinoisRealtors on Instagram. Subscribe to YouTube.com/c/illinoisrealtorsvideo

6 www.IllinoisRealtors.org

• Lobbyists at the State Capitol and throughout the state watching out for your business when bad bills or local ordinances are proposed www.IllinoisRealtors.org/MemberBenefits

MARKET WATCH INVENTORY AND THE ILLINOIS HOUSING MARKET In the post recession Illinois Unsold Inventory by Price Range (Quarter’s Supply) housing market, Illinois home sales and prices have regained Overall their footing, but available 700K-up inventory hasn’t kept pace 500-700K and that impacts the market 300-500K and buyer opportunities. For 2017 Q1 200-300K the last two years, the state’s 2016 Q4 monthly housing inventory 100-200K 2016 Q1 levels have been lower than 0-100K the year before. In 2008, monthly state0 1 2 3 4 wide inventory averaged Source: University of Illinois REAL, Illinois REALTORS around 120,000 homes for sale. By contrast, statewide inventory in 2017 has hovered closer to the 50,000 range each month. The trend of low supply levels is also being felt nationally and Lawrence Yun, chief economist for the National Association of REALTORS®, says that is having an impact on potential sales with demand outstripping supply in most areas of the country. Stay up to date with what is happening with Illinois’ inventory levels and other housing news with Illinois REALTORS® MarketStats and forecasts from the Regional Economics Applications Laboratory (REAL) at the University of Illinois. The quarterly forecasts include statewide and regional breakdowns of the market including inventory comparisons by price range. ®

Find the latest forecasts and more at www.IllinoisRealtors.org/MarketStats

Illinois REALTORS® are “Working With Heart” and celebrating the Illinois Bicentennial in 2018 with

ILLINOIS REALTORS

working with in every community

“legacy projects” across the state. Illinois REALTORS® and local associations have adopted these historic homes and properties: Illinois REALTORS®: ` Build the Bicentennial Plaza — A REALTOR® Community Partnership

` Capital Area

` ` Bicentennial Plaza — A REALTOR® Community Partnership

` Official partner with the Illinois Bicentennial Commission, which oversees the state’s plans for the milestone birthday. ` Donated more than $50,000 to the Executive Mansion renovation project in Springfield.

` `

REALTORS®: Improvements at the Edwards Place historic home in Springfield. Danville Area Board of REALTORS®: Sponsorship of the City of Danville’s Lincoln Belief Mural. Illinois Bicentennial 1818-2018 Greater Gateway Association of REALTORS®: Partner with City of Alton and Haskell House Foundation to convert the historic home into a children’s museum. Heartland REALTOR® Organization: Working with 6-7 local historical sites to help push traffic to local events in 2018. Hometown Association of REALTORS®: Air conditioning for the Egyptian Theatre in DeKalb; repairs to the Ronald Reagan Home in Dixon. Illini Valley Association of REALTORS®: Painting of historic murals on buildings in downtown Streator. Kankakee-Iroquois-Ford Association of REALTORS®: Support the B. Harley Bradley House in Kankakee, a Frank Lloyd Wright-designed home, built in 1901. Livingston County Board of REALTORS®: Historical landscaping for the Strevell House in Pontiac. * see all 25 projects at www. IllinoisRealtors.org/Bicentennial

www.facebook.com/REALTORSCelebrateIllinoisBicentennial Get Bicentennial Gear!

www.narteamstore.realtor/IllinoisREALTORSBicentennial #REALTORSworkingwithHeart #IllinoisProud

ILLINOIS REALTOR® July 2017

QUICK TAKES

Business Tips to Incorporate This Summer

Looking for a few new strategies to enhance your business? The speakers and trainers at this year’s Illinois REALTORS® Conference & Expo in Collinsville offered a variety of tips on everything from improving the way you interact with clients to avoiding social media pitfalls. Here are six quick action items you can add to your summer business plan. a professional image whether it is in the way you dress 1 Present (always slightly above your marketplace) or the way you answer your phone (always mentioning your name, your company and the fact that you are a REALTOR®.) – Leigh Brown

clients from your five most recent closings and ask them 2 Contact for real feedback on the transaction. Finding out what they liked and disliked can help REALTORS® fine-tune their efforts. – Leigh Brown

for an email drip campaign program, don’t rely 3 Ifonyouthepaystock outgoing message. Edit it to reflect your own “voice.” – Leigh Brown

social media, avoid “guilt by association” by locking 4 On down groups on Facebook so that customers do not see

potentially offensive viewpoints of friends or family members. – Marki Lemons Ryhal

and delivery matter when it comes to communicating 5 Details with clients so spend more time practicing and fine-tuning

what you want to say. Videotape presentations you regularly give, critique and edit transcripts and then practice them so you can deliver them smoothly from memory. – Anthony Huey

a new tool from Realtors Property Resource 6 Try (RPR) such as the Refined Value Search, which allows you to see how much common remodeling projects can boost your property’s value. – Kiki Wanshura

$320 BILLION

National remodeling expenditures by homeowners are expected to reach $320 billion in early 2018, according to the Leading Indicator of Remodeling Activity from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

Chicago’s Ginger Downs Recipient of Magel Award Chicago Association of REALTORS® CEO Ginger Downs is the recipient of the 2017 William R. Magel Award, honoring her for excellence as an association executive. Downs, RCE, CAE, CIPS, IOM, has led the Chicago association since 2005.

REALTORS® and Consumers are Going Green More REALTORS® and their clients are becoming interested in environmental sustainability. In a recent NAR survey, 56 percent of respondents said clients are at least somewhat interested in sustainability, 71 percent said promoting energy efficiency in listings was valuable and 43 percent report that their MLS includes green data fields, according to the REALTORS ® and Sustainability 2017 Report. REALTORS® are also leading by example with 11 percent of broker respondents reporting that they use an environmentally efficient car and 86 percent of firms have taken steps to reduce waste and energy usage. Read more at www.bit.ly/2017NARgreen

8 www.IllinoisRealtors.org

In Memoriam: Margery Shinners

Illinois’ Shrinking Middle Class The number of Illinois households considered middle class has contracted in the last 40 years, while those considered upper income has grown, according to the Project for Middle Class Renewal at the University of Illinois at Urbana-Champaign. In the early 1970s, about 59 percent of the state’s households fell into the middle income range. Now that number is closer to 49 percent, according to the report, Taking the Pulse of Illinois’ Middle Class: The Changing Size and Composition of Middle Income Households. The report points to a number of factors for the decline including: changing political and economic rules that benefit the wealthy; rising health insurance costs that have eaten into worker’s wages; declining wages for those without college degrees; a shift from manufacturing and production jobs to an increase in service sector employment; declining union power; and more. Illinois’ middle class decline has generally tracked national trends, but dropped slightly more since the state started out with a larger share of middle-income households. Read the full report at www.bit.ly/UofImiddleclass This chart from the report shows how income levels have risen for upper-income households while middle- and low-income households have struggled to keep pace:

Illinois Median Size-Adjusted Household Income for Household Size 3

Source: American Community Survey IPUMS.org Habans, Robert (2017). Taking the Pulse of Illinois’ Middle Class:The Changing Size and Composition of Middle Income Households, Project for Middle Class Renewal at the University of Illinois at Urbana-Champaign

Margery Shinners, CEO of the Mainstreet Organization to REALTORS® (MORe), died on May 2. She had served as MORe’s deputy CEO for Mainstreet since 2004, before taking over as CEO in December, 2016. Shinners, 51, was widely respected as a focused, personable leader who helped shepherd Mainstreet through many changes during her more than 20 years with the organization.

REEF SCHOLARSHIP ESTABLISHED TO HONOR SHINNERS A scholarship is being created in Shinners’ honor through the Illinois Real Estate Educational Foundation. The Margery Shinners Scholarship will be for women seeking additional leadership training as a part of their role as association executives. Illinois REALTORS® donated $10,000 and additional contributions are being accepted. www.ilreef.org

NAR Offers RESPA Do’s and Don’ts When Co-Marketing Online Know the Real Estate Settlement Procedures Act (RESPA) rules when it comes to co-marketing online. The National Association of REALTORS® (NAR) has published a document, RESPA Do’s and Don’ts for Co-Marketing, Social Media & Other WebBased Marketing Tools, available to members at: www.bit.ly/RESPAcomarketing Illinois REALTORS® Director of Legal Services Betsy Urbance cautions REALTORS® who engage in co-marketing or enter advertising agreements with other settlement service providers such as lenders, mortgage brokers, title insurance companies, etc., to pay close attention to this informational piece. They should also seek specific legal advice from attorneys who are knowledgeable on RESPA issues before engaging in these business practices taking special care to be RESPA compliant.

ILLINOIS REALTOR® July 2017

AT THE CAPITOL Julie Sullivan | Director, Legislative and Political Affairs

2017 CAPITOL CONFERENCE & ‘REALTOR® LOBBY DAY’ This year’s Capitol Conference and “REALTOR® Lobby Day” drew record crowds as hundreds of Illinois REALTORS® traveled to Springfield to lobby lawmakers on the legislative and regulatory issues that affect Illinois homeowners, commercial real estate and real estate professionals. Issues on the association’s 2017 legislative agenda included opposition to a bill that would repeal a 20-year-old law that prohibits local governments from imposing rent control measures; support for a bill that would create a voluntary financing mechanism for commercial, industrial and multi-family building clean energy projects; and support for an initiative updating real estate license law to make education course offerings and testing more efficient.

Members of the Chicago Association of REALTORS® at the pre-legislative visits briefing session.

Senate President John Cullerton, D-Chicago, talks with Illinois REALTORS® President-Elect Matt Difanis, Illinois REALTORS® Senior V.P. of Governmental Affairs Greg St. Aubin (right) and Illinois REALTORS® during a meeting in Cullerton’s office. Photo credit:Terry Farmer

REALTORS® arrive for the “REALTOR® Lobby Day” legislative briefing. Photo credit:Terry Farmer

House Majority Leader Barbara Flynn Currie, D-Chicago, poses with Chicago REALTORS®, Illinois REALTORS® Treasurer Dan Wagner (far left), Director of Legislative and Political Affairs Julie Sullivan (second from right) and Local Governmental Affairs Director Brian Bernardoni (far right).

10 www.IllinoisRealtors.org

State Sen. Jennifer Bertino-Tarrant, D-Plainfield, listens to REALTORS® Karen Robertson and Matt Persicketti.

State Rep. Barbara Wheeler, R-Crystal Lake, meets with members of the Heartland REALTOR® Organization and Illinois REALTORS® Local Governmental Affairs Director Conor Brown.

#PowerofR

AT REALTOR® LOBBY DAY Legislators heard the REALTOR® voice loud and clear at Capitol Conference & “REALTOR® Lobby Day” Watch a recap. www.bit.ly/2017REALTORLobby

Senate Republican Leader Christine Radogno, R-Lemont, poses with members of the Mainstreet Organization of REALTORS®, Three Senate Republican Leader Christine Radogno, R-Lemont, poses with members of the Mainstreet Organization of REALTORS®, Three Rivers Association of REALTORS® and Illinois REALTORS® staff. Photo credit:Terry Farmer

Smile, you’re at Illinois REALTORS® Capitol Conference!

Oak Park Area Association of REALTORS® (from left to right) John Lawrence, Gary Salem, Ricky Braglia, Gabe Caporale, Michelle Kelly, Laurel Saltzman and Jonathan Zivojnovic show the ‘Power of R’ at “REALTOR® Lobby Day.” Photo credit: Oak Park Area Association of REALTORS®

Peoria REALTORS®: front row left to right) — Pat McCarthy, Laura Martin, Jeff Kolbus, Sheryl Grider-Whitehurst and Phil Harvey; back row — Sandi Beck, Mari Halliday, Terri Shepherd, Karen Sitler and Bev Hayes. Photo credit:Terry Farmer

Illinois Young Professionals Network (YPN) hosted a networking reception during Capitol Conference.

Illinois REALTORS®’ Treasurer Dan Wagner and President-elect Matt Difanis.

ILLINOIS REALTOR® July 2017

RPAC NUMBERS by the

$3,500

50/50

Estimated tax savings

Our REALTOR® PAC is recognized

most bipartisan

as one of the PACs in the country, supporting both Republican and Democratic candidates.

$500 10%

The cost of a pre-sale video sewer line inspection, which would have been mandated for all homeowners in Illinois during the home sale process but instead it was

A proposed tax on real estate advertising

This tax, so far, has been stopped by a REALTOR®-supported coalition, effective lobbying and RPAC.

Just

$20

5¢

from the Mortgage Interest Deduction for the average taxpayer who owns a $200,000 home with a 30-year fixed rate mortgage of 5% (source: NAR). RPAC plays a key role in preserving the Mortgage Interest Deduction for American homeowners.

stopped with help from RPAC.

number of dollars

The RPAC gives to candidates for

U.S. President.

RPAC dollars are best spent supporting REALTOR®-friendly candidates in LOCAL government offices, STATE elections and races for the U.S. HOUSE AND SENATE.

per day!

Just $20 can make a difference for your homebuyers and commercial property owners. That $20 is a bargain for an insurance policy for your business.

16,256

THANK YOU Illinois REALTORS members ®

who invested in RPAC this year!

Are you among the 27,744 of our 44,000 members who have not? RPAC is funded completely through voluntary contributions from members.

Invest today! www.RPACnow.com 12

Contributions to RPAC are not deductible for federal income tax purposes. Contributions are voluntary and are used for political purposes. The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or decision not to contribute. You may refuse to contribute without reprisal. Up to thirty percent (30%) may be sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a. A copy of our report filed with the State Board of Elections is (or will be) available on the Board’s official websitewww.elections.il.gov or for purchase from the State Board of Elections, Springfield, Illinois. Except as may be required by state or federal law, the Illinois REALTORS® PAC (Illinois RPAC) is not required to refund political contributions. However, a refund www.IllinoisRealtors.org request made by a contributor within 30 days of the date of his or her RPAC contribution is received will be considered on a case-by-case basis.

NAR Midyear Legislative Meetings & Trade Expo

Left: Local Governmental Affairs Director Kyle Anderson takes a selfie with Suzanne Wood and Teresa Camarato from the Egyptian Board of REALTORS®.

The Illinois REALTOR® delegation met with members of Congress in Washington, D.C., in May during the REALTORS® Midyear Legislative Meetings & Trade Expo.

Federal Political Coordinator David Hanna, Chicago REALTORS® and Mainstreet Organization of REALTORS® visited U.S. Rep. Mike Quigley, D-Chicago.

REALTOR® Sarah Ware, U.S. Rep. Robin Kelly, D-Chicago, Federal Political Coordinator Tonya Corder and Local Governmental Affairs Director Tom Joseph.

U.S. Sen. Tammy Duckworth, D-Ill., meets with Federal Political Coordinator Nancy Suvarnamani, Illinois REALTORS® Manager of Grassroots and Political Programs Neil Malone, Treasurer Dan Wagner and other Illinois REALTORS®.

Southern Illinois REALTORS® talk about industry issues with U.S. Rep. Mike Bost, R-Murphysboro.

U.S. Sen. Dick Durbin, D-Ill., laughs as he is introduced by Illinois REALTORS® Federal Political Coordinator Matt Farrell.

REALTOR® Vicky Turner poses with U.S. Rep. Adam Kinzinger, R-Channahon, and REALTOR® Bicentennial gear celebrating the state of Illinois’ 200th birthday.

Celebrating RPAC Champion Milestones Illinois REALTORS® believe in the power of political advocacy and eight new REALTORS® have been inducted into the National Association of REALTORS® Hall of Fame for the first time for reaching $25,000 in lifetime contributions to RPAC. Six REALTORS® were honored for reaching the $50,000 milestone and Illinois REALTORS® CEO Gary L. Clayton was celebrated for donating more $75,000 during his career.

$25,000+

Phil Chiles Colleen Clavesilla

Ed Neaves

Ed Prodehl

$50,000+

Dana Hybl

David McClintock

Doug Carpenter

Millie Rosenbloom

Norm Willoughby

Piero Orsi

$75,000+

John C. Kmiecik Lynn Madison

Rob Wigton

Gary L. Clayton

Pamela A. Krieter ILLINOIS REALTOR® July 2017

LEGAL UPDATE Elizabeth A. (Betsy) Urbance | Illinois REALTORS® Director of Legal Services; Associate, Sorling Northrup Attorneys

TEST YOUR KNOWLEDGE ABOUT MULTIPLE OFFERS We would like to introduce our membership to a new feature presented by the Illinois REALTORS®’ Legal Team, which is a series of short videos titled, “Legal Minutes.” The first two videos cover multiple offer situations, “Multiple Offer Situations as a Seller Agent,” and “Multiple Offer Situations as a Buyer Agent.” Take this quiz and see how much you know and compare your answers to those in the videos:

Must a listing broker always disclose that there are multiple offers to the buyer?

A: While this is preferable, the listing broker must disclose only if the seller authorizes the disclosure.

True or false: the listing broker is automatically permitted to stop presenting offers, once the seller has an accepted contract in place? A: False. Offers must be presented up until the time of closing

unless the seller waives this requirement for the listing broker.

The listing agent has been directed by the seller client to ask for highest and best offers from multiple buyers.What is the effect of this request on those offers? A: The legal effect of asking for “highest and best” from all offerors is a rejection of all offers.

True or false: the Illinois Real Estate License Act and the REALTOR® Code of Ethics govern the behavior of unlicensed sellers and buyers.

Find the “Legal Minutes” videos at www.IllinoisRealtors.org/legal/webinars

What is a possible legal effect of a seller countering two offers at the same time?

If a seller suggests countering two offers at the same time, what should the listing agent do?

A: The possible legal effect of two offers being accepted at the same time, is that the seller has sold his one property twice. This is a legally uncomfortable position in which to be.

A: The listing agent should — and indeed has an ethical obligation to — refer the seller client to their legal counsel.

What practice might a listing agent use to prove to the buyers in a multiple offer situation that the listing agent has presented all offers to the seller client? A: If at all possible, the listing agent should encourage the

A: False.

seller to sign some written acknowledgement of the seller’s action, i.e. rejection of the offer.

True or false: an escalation clause is a foolproof method for buyers to “win” in a multiple offer situation.

A: False. These types of offers are rife with potential problems. For more on this subject go here www.bit.ly/LegalJuly2016

14 www.IllinoisRealtors.org

True or false: the seller must always accept the highest offer.

A: False. The seller is generally free to accept the offer he likes best, absent nefarious reasons such as in order to discriminate based on a buyer’s membership in a protected class.

BONUS ROUND

We’ve given you the answers to the first nine questions. Now watch the “Legal Minutes” videos on multiple offer situations at www.IllinoisRealtors.org/ Legal/Webinars and see if you can answer the bonus questions below: Bonus Question #1

An offer or counter-offer can be withdrawn any time prior to ____________________.

Bonus Question #2

True or false: there is a strict rule that offers must be presented in the exact order in which they were received.

Bonus Question #3

What are some ways in which a buyer’s broker might try to verify their offer has been presented if they suspect the listing broker is “stonewalling” or not presenting their offer?

GOT A LEGAL QUESTION? The Illinois REALTORS® Legal Hotline is the Designated REALTOR®/managing broker’s go-to source for legal information. Phone: (800) 952-0578 Email: burbance@IllinoisRealtors.org Hours: 9 a.m. to 4 p.m., Monday – Friday

NEED HELP RESOLVING A DISPUTE WITH A REALTOR ® ? Illinois REALTORS® has a Consumer Help Line to resolve questions relating to real estate transactions. Help Line: (800) 952-0578 Web: www.IllinoisRealtors.org/Disputes Hours: 9 a.m. to 4:30 p.m., Monday – Friday

SPONSORED CONTENT

THE VALUE OF THE MLS IN THE HOME BUYING AND HOME SELLING PROCESS By Rebecca Jensen President and CEO of Midwest Real Estate Data (MRED) I know REALTORS ® are more important to the real estate transaction and marketplace than ever. I hope you have the time in your busy schedules to read through all of the great articles in this latest edition of Illinois REALTOR®. The centerpiece article in this issue is about the value of REALTORS® in the home buying and home selling process. There has been a lot of discussion in recent years about how technology and the Internet is “disintermediating” or replacing the real estate professional. Sellers and buyers allegedly can do more and more of the real estate transaction without professional assistance. This has been proven wrong. NAR research tells us that “for sale by owners” (FSBOs) are at their lowest point in many years. While most everyone is impacted by the lack of inventory (homes for sale), we are seeing the highest number of transactions and volume conducted through the MLS since before the crash. Clearly REALTORS® bring a lot of expertise to a real estate transaction. I also believe it is a mistake to assume that technology in and of itself replaces human interaction. While some things can be replaced by a machine, the difficult analysis and decision making combined with the emotions involved in buying a home have demonstrated how important real estate professionals remain today. Even companies like Amazon realize that interacting with customers in a real bricks and mortar environment is important to their business model. I’ll let the rest of this magazine do the talking for me regarding your value in the real estate transaction today. Let me instead address for a moment something else close to my heart – the multiple listing service . . . The Miracle Marketplace The multiple listing service (MLS) continues to provide an incredibly effective place for the most serious competitors (that would be you) to do business together, safely and efficiently. No other industry provides the place to do business that the MLS does, with the best/ most reliable content on listings, and an exchange of compensation information that is the envy of other industries. We think of the MLS as the “miracle marketplace”. What happens in MRED is the incredibly efficient conducting of the largest transactions in most people’s lives. You are the lynchpin of these transactions! MRED is pleased to play an important role in helping you get your clients into their new homes. I think we can all make the argument that REALTORS® are as important as they’ve ever been; and that the MLS and the “miracle marketplace” remain integral to the orderly conduct of real estate transactions moving forward into the future. As always, MRED stands ready to provide great training assistance and Midwest Real Estate Data award winning customer service to anyREinventing MLS one who contacts us. Here’s to your continued success! ®

ILLINOIS REALTOR® July 2017

What’s Your

Value? Skills REALTORS® Bring to the Real Estate Transaction

By Stephanie Sievers | Senior Editor

Consumers can watch YouTube videos to tackle home improvement DIY projects, Google mortgage interest rates and scan available property listings by neighborhood with a smartphone. But despite all the information at our fingertips, REALTORS® still bring a value to the home buying and selling process that is hard to replace. “Technology has made real estate more accessible than ever to consumers,” says Illinois REALTORS® President-elect Matt Difanis. “But when buyers and sellers get serious about handling what for many is one of the biggest financial transactions of their lives, they Difanis overwhelmingly still turn to trusted experts — REALTORS®.” Part housing expert, part counselor, part marketing guru, part reality check: REALTORS® bring an expertise to the real estate transaction that is unmatched. They know the market, the process and how to overcome the roadblocks that can pop up along the way. The list of values REALTORS® bring to the process is long, but here are some key ones that show why working with a REALTOR® beats trying to go it alone. 16 www.IllinoisRealtors.org

The Expert in Their Corner

Consumers might only buy or sell a few homes in their lifetime. REALTORS® handle property transactions all day, every day. Because of that they can make what can be a very complicated experience, more manageable for buyers and sellers. And in Illinois there are more than 44,000 REALTOR® experts who are engaged in all aspects of the industry who can help consumers through the process. Consumers look to REALTORS® to put all the data in context. REALTOR® Tommy Choi, co-founder of Weinberg Choi Residential at Keller Williams Chicago-Lincoln Park, likens it to searching WebMD when you are sick — you might look for your symptoms online, but that doesn’t mean you’ll skip going to the doctor.

“Consumers are looking at us as an advisor to really shape the process, whether it’s on the buying or selling side, and make sense of what this data means,” Choi said. “Numbers can only tell so much and then there is the human factor of just being out in the field and understanding how the market is changing daily.” According to the National Association of ® REALTORS ’ (NAR’s) Home Buyer and Seller Choi Generational Trends Report 2017, buyers and sellers of all ages and generations consider REALTORS® to be an integral part of the real estate transaction. Eighty-nine percent of U.S. sellers used a REALTOR® to sell their home and 88 percent of homebuyers turned to a REALTOR® when looking for a home. The percentage of Millennials who sought the expertise of a REALTOR® was even higher — 92 percent, the report found.

They Know a Home’s Value and How to Price It

REALTORS® know their markets, the home features and layouts local buyers want and how much they will pay for it. They know what appraisers and inspectors will be looking for as they view properties and they can give sellers advice on which home improvements will help catch a buyer’s eye without breaking the bank. “REALTORS® have a birds-eye view of what’s hot in the market and what consumers are looking for in a purchase, said REALTOR® Nick Libert, a broker with Exit Strategy Realty in Chicago. “ A REALTOR® knows what a consumer is looking for — how to attract the right consumer and buyer for that property and how Libert to get it out to as many consumers as possible, using the various media that are now available.” That pricing expertise is one reason sellers choose to work with a REALTOR®. The market share of for-sale-byowner (FSBO) sales has fallen to 8 percent and is at the lowest level since 1981 when NAR began its Profile of Home Buyers and Sellers. One downside to FSBOs? Homeowners who sell on their own typically get a lower return. FSBOs sold for a median price of $185,000 last year compared to a $245,000 median price for properties sold through a REALTOR®, according to NAR’s 2016 Profile of Home Buyers and Sellers.

Savvy Marketers

Listing a home is just one step in getting a property sold and REALTORS® have the marketing skills and tools to make sure it is seen by a large audience and found by prospective buyers. They also know there are multiple audiences to target: consumers who are looking for a home and colleagues who can make sure that the property gets noticed. Even adding the best property descriptions when crafting the MLS listing is an art, says Libert. Real estate is a competitive business and REALTORS® bring all their marketing tools to the process, whether it is social media, new technology or other strategies. In all, REALTORS® spent a median of $560 for marketing in 2016

Eighty-nine percent of U.S. sellers used a REALTOR® to sell their home and 88 percent of homebuyers turned to a REALTOR® when looking for a home. The percentage of Millennials who sought the expertise of a REALTOR® was even higher — 92 percent. Sources: National Association of REALTORS® (NAR) Home Buyer and Seller Generational Trends Report 2017 and NAR’s 2016 Profile of Home Buyers and Sellers

with broker-owners who sell averaging $1,180 and associate brokers averaging $770 in expenses, according to NAR’s 2017 Member Profile. Their social media footprint is also strong with 69 percent of REALTORS® using Facebook, 61 percent using LinkedIn, 10 percent getting their messaging out with a blog and 52 percent who have had a website for at least five years, according to the report.

Contract & Negotiation Pros

A buyer finds a house and the owner is eager to sell, but negotiating a deal that both sides are happy with takes skill. That’s where a REALTORS®’ contract knowledge and extended training plays a role. They can negotiate the terms of the sale, any concessions or repairs that need to be included and are an advocate for their clients. When problems arise, REALTORS® know how to knock them down because they’ve likely encountered them before and many have pursued additional training. “The best negotiators know that the ultimate goal is creating a win-win situation for both sides,” said REALTOR® and trainer Wayne Paprocki of Realty Advisors North in Northbrook and the Real Estate Negotiation Institute. Consumers who try to handle the negotiating on their own can be at a disadvanPaprocki tage because they may not have that emotional distance or know the techniques to get the results they want, he said.

An Educated and Ethical Resource

REALTORS® go through additional training that goes above and beyond state guidelines for real estate practitioners. They are always learning about the industry with post-license training and ongoing continuing education requirements to meet the two-year license renewal cycles. Many more build on that knowledge by earning some of the 26 NARrecognized designations and certifications. From learning how to be a Certified International Property Specialist (CIPS) or

ILLINOIS REALTOR® July 2017

a Military Relocation Professional (MRP), REALTORS® hone their skills in a variety of real estate specialities. “Buying and selling a home can be complicated and even the best case scenarios benefit from a REALTORS®’ expertise,” said REALTOR® Max Mitchell of RE/MAX Realty Associates in Champaign. And ethically, REALTORS® hold themselves to a strict code of ethics rules that have Mitchell been in place for more than 100 years. Those in the industry police themselves to make sure REALTORS® fulfill their fiduciary duty to put their client’s interests first and uphold the highest professional standards. Since 2015, the Illinois REALTORS Citation Program, which provides a system for filing complaints of unethical behavior, has received 253 complaints.

Property Rights Guardian

Know about that burdensome legislative mandate that made it harder to buy and sell a home? How about the new fee or tax that drove up homeownership costs? If consumers don’t, it might be because REALTORS® and their successful advocacy efforts serve as a powerful buffer protecting the real estate industry and the rights of private property owners. Protecting and promoting homeownership is a core mission for REALTORS® and they zealously advocate for it at the federal, state and local levels. With the thousands of bills, ordinances and other measures being pursued at all levels of government, it is important for REALTORS® to have a place at the table. Illinois REALTORS® has that presence from with its Springfield lobbying team, the 12 governmental affairs directors working in local communities, the 177 REALTOR® members who serve as State Legislative Contacts (SLC) to Illinois House and Senate members and the 20 members who serve as liaisons to the state’s congressional delegation as Federal Political Coordinators (FPC). REALTOR® Tonya Corder, a managing broker with Century 21 Affiliated’s Homewood and Chicago-Hyde Park offices, is an FPC assigned to Rep. Robin Kelly’s district. She sees firsthand the important role REALTORS® have in serving as legislative watchdogs and advocates and has found that elected officials respect the industry perspective REALTORS® provide. “It’s our industry and we have to protect Corder it,” she said. “A lot of things would slip through that the general public wouldn’t even know about. I think it’s very important to have a REALTOR® standing up for private property rights. We help keep legislators informed of how a certain bill may affect their district, and most importantly, the homeowners in their district.”

Community Booster

A home isn’t just a solitary house; it’s part of a larger interwoven community and the health and vitality of that community matter. REALTORS® realize that and are committed to volunteering and giving back to make communities better. Illinois REALTORS® volunteer countless hours working at food 18 www.IllinoisRealtors.org

pantries, building Habitat homes, donating resources to help victims of tornados or other natural disasters or raising money for local charities. Illinois REALTORS® love their communities and they are willing to pitch in to make them better. One example: the work Illinois REALTORS® are doing to help the state celebrate 200 years of statehood in 2018. Working off the bicentennial theme, “Illinois REALTORS® working with heart in every community,” Illinois REALTORS® have partnered with the Illinois Bicentennial Commission to mark the milestone. Twenty-five local associations are planning “legacy projects” across the state including adopting a historic home or property with plans for fundraising, promotion, sponsorship and work days. The state association is building a Bicentennial Plaza next to its Springfield headquarters and has donated more than $50,000 to help renovate the nearby Executive Mansion. “For me, volunteering — just like homeownership — goes hand in hand with strong communities. And because REALTORS® love our communities, it easily becomes part of our Turner culture to give back,” said REALTOR® Vicky Turner, a broker with Crawford Realty in Dixon, and chair of the association’s Illinois Bicentennial Task Force. “I’ve volunteered in my community since 1979 and have done everything from organizing the local Santa parade to leading local tourism boards. I volunteer first because I truly love it and I also believe in the philosophy of giving back.”

 Just a few things REALTORS® do... Help figure the appropriate listing price. • Help buyers determine what they are looking for in a property and what is most important to them. • Stay up-to-date on and interpret local market data. • List property on the market. • Help buyers determine how much they can afford. • Effectively market properties, choosing advertising mediums that get the most bang per buck. • Target the right audience for properties. Find properties that meet the buyer’s requirements. Work to have property staged and photographed. Provide tips on how to increase property ROI. • Stay knowledgeable on neighborhood statistics, including local schools, amenities, etc. • Schedule inspections, meet inspectors at property and review inspections. Schedule appraisal and meet appraiser at property. Schedule and advertise open-houses. • Schedule and coordinate appointments to show properties. Prescreen potential buyers before showing. • Help guide buyers through financing and insurance. • Keep a list of recommended service providers such as inspectors, painters, handymen, etc. • Keep open lines of communication between buyers, sellers and any service providers. • Negotiate contracts. • Anticipate potential problems ahead of time. • Coordinate closing with title company. • Get executed contract and escrow money to title company. • Ensure the buyer gets the keys.

Be in business for yourself, not by yourself. With Solutions. The technology you need The leads you want The support to succeed

Looking for a change? Ready to take your career to new heights? Join our team. Call your local Weichert® office today or 800-301-3000, or visit jobs.weichert.com. © 2017 Weichert Real Estate Affiliates, Inc. Weichert® is a federally registered trademark of Weichert Co. All other trademarks are the property of their respective owners. REALTORS® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. Each WEICHERT® franchised office is independently owned and operated.

ILLINOIS REALTOR® July 2017

9luxury Tips for

working in the

real estate market By Bridget McCrea

orking on the upper end of any market

takes finesse, regard-

less of whether you’re selling megamansions, yachts or sports cars. REALTORS® in the luxury housing market have to provide compelling reasons as to why a home’s features, functionality and amenities match with the buyers’ needs. The attention to detail that higher-end buyers and sellers expect extends throughout the process. “I hesitate to use the word ‘pampered,’ but sellers on the higher end

20 www.IllinoisRealtors.org

do expect to have more attention and

more specific marketing and advertising done on their properties,” says Marilyn Kohn, a broker with RE/MAX Traders Unlimited in Peoria, who considers homes priced at $400,000 and up “luxury” in her market.

Illinois REALTORS® who work in the luxury market share their best advice on getting listings, creating marketing plans and successfully selling these types of homes. Here are some of their strategies.

Be prepared to spend some money on marketing.

When it comes to high-end listings, your marketing materials need to be top-notch. Achieving this will require an investment. “All of your marketing, photos and videos have to be very high class when you’re working with upper price point clients,” says Kohn. For example, she recently developed and distributed a bi-fold, glossy brochure for a property listed at just under $1 million. Sent out to a list of 1,000 targeted, potential buyers, the brochure cost Kohn about $2,000. “You have to be prepared to spend some Kohn money on these properties,” Kohn said.

Test out new marketing tricks, like digital magazines or “flipbooks.” When selling $700,000+ listings

in the Columbia market outside of St. Louis, Tammy Mitchell Hines, a broker-owner with Tammy Mitchell Hines & Co. Real Estate Team, works with her marketing team to create a digital magazine. Using the Joomag digital publishing platform, they upload photos of the home, zoom in on special features, and use wide-angle lenses to highlight luxury amenities. “We put all of those pictures into a magazine that has a link to it that we can then put on Facebook,” Hines says. “Our sellers can then share it with their friends who will share it with their friends. It helps drive quite a bit of exposure for the property.”

Hines

Don’t try to take your own photos and videos. An iPhone and a great idea

Develop a network of higher net worth buyers.

Educate yourself and get certified.

aren’t going to cut it. To do a good job in the luxury market you’ll need the help of a professional photographer and/or videographer who can do your high-end listing justice. Halliday “You only get one chance to make a good first impression on the high end of the market, so don’t blow it by trying to take photos of the property with your mobile phone,” says Mari Halliday, a REALTOR® with The Mari Halliday Team at Jim Maloof/REALTOR® in Peoria. Instead, outsource the task to a professional photographer, and preferably one who specializes in high-end real estate. Do the same with your videos (you may even be able to use the same professional for both), and focus on showcasing the lifestyle associated with the house. “Put together a story that will draw buyers in and will showcase the home and the lifestyle that comes along with it,” says Halliday.

First-time homebuyers aren’t likely to buy that $2.5 million mansion that you just listed, but the professionals you should target may not peruse Trulia and Realtor.com for listings, either. To fill in this “gap,” you’ll need to develop a network of higher net worth buyers you can tap into as soon as your seller signs that listing agreement. Kohn, for example, has a database populated with physicians, executives, and business owners. “I make them aware of the property,” she explains. “And whether they’re interested or not, they may know someone who is.” She says this type of outreach, and the initial securing of contacts, takes a bit more work on the higher end, where attending social events, participating in community events, and taking part in professional activities (outside of real estate) can really pay off. While there is debate over whether sellers recognize and understand all of the acronyms after an agent’s name, getting involved with the Institute for Luxury Home Marketing has paid off for several agents interviewed for this article. Kohn, for example, earned her Certified Luxury Home Marketing Specialist™ (CLHMS), which, according to the organization’s website, “assures affluent buyers and sellers

ILLINOIS REALTOR® July 2017

the agents who have earned it have the knowledge, experience, competence and confidence they require.” A member of the group’s Million Dollar Guild (which requires agents to sell homes at that price point), Kohn participates in the group’s activities, networks with members, and displays her credentials on her marketing materials.

Educate your sellers on market dynamics. Right now, about

40 percent of the homes in the Peoria area are selling for more than $250,000. “That’s a pretty wide range,” says Kohn, who has noticed a slight slowdown in the luxury market so far in 2017. Conveying these points to high-end sellers takes a certain level of finesse — particularly when you have to explain that there’s a 23-month supply of homes currently available at their price point. “They’re usually shocked to hear this,” says Kohn, “but they need to hear it. Otherwise, when it doesn’t sell, they’ll blame you and your marketing efforts.”

Think way beyond the multiple listing service. Sometimes,

when a home is priced right and the demand exists, uploading a few photos and a description to the MLS is enough to sell it. This doesn’t happen as often in the luxury market, where sellers expect their agents to go to greater lengths when marketing their homes. Emily Sachs Wong, a broker with @properties, sells luxury properties in Lincoln Park, for example, and says the agent who relies on the MLS is missing out on about 20 percent of the potential buyers (namely, those who aren’t actively looking for a home). These buyers include the person who is flipping through a real estate magazine or reading the newspaper while getting a car detailed. Wong says she uses high-end neighborhood magazines (e.g., Hinsdale Polo Magazine in Chicago), newspapers, and other publications to reach these potential buyers. And knowing that many luxury buyers in the Chicago market are from elsewhere, Wong advertises her highend listings in suburban publications.

Wong

22 www.IllinoisRealtors.org

“I find different channels for the ads instead of just hoping someone is looking for a REALTOR® or searching for homes on his or her computer,” says Wong.

Get ready to ride out the market fluctuations. The lux-

ury market doesn’t always align with the general home-buying market. “It really ebbs and flows based on different times of the year,” says Wong. She said she usually sees significant slow downs during the holidays and over the summer. “This is a market that can afford to not be interested during certain times of the year,” she said. In the Lincoln Park area of Chicago, for instance, vacations usurp home selling as an activity during June, July, and August. That means the seller who has to put his or her high-end home on the market on June 15 may not sell it for several months. Wong says getting over this obstacle requires a dose of patience and planning. “No matter what I do,” she points out, “I can’t control the market.”

If you’re new to game, try not to act like it. Honesty and trust

are important in the real estate business, but wearing your “I’m a new luxury agent” heart on your sleeve may not pay off too well at the top end of the market. “You can’t ever let a luxury buyer or seller know how badly you want it, and how desperate you are for the business,” says Wong. “These folks key into that attitude pretty quickly, and they’re susceptible to it.” What these buyers and sellers do want is someone who has knowledge, experience, and good communication skills and who can capably help them sell their properties. “Even if you’re new to this, you have to spin your experience in different ways and encourage them to give you a chance,” says Wong. “You have to come up with something they can relate to if you want to encourage them to work with you.” About the writer: Bridget McCrea is a business, real estate and technology writer in Clearwater, Fla. She can be reached at bridgetmc@earthlink.net.

So What if You’re Not Selling $1 Million Homes? You Can Still Class Up Your Act Tammy Mitchell Hines sells the occasional high-end home worth $700,000+ in the Columbia market, but says the bulk of her listings fall well under that threshold. That doesn’t keep her from “classing up” all of the listings that she’s involved with. Here are some of her top tips for incorporating high-end touches that impress all buyers: 1. Use professional photography for all listings, even if it’s a $17,000 mobile home. “This makes us feel good about the quality we’re putting out there, regardless of price point,” says Hines. 2. Borrow a page from Hines’ vision statement, which says “Everybody who wants to buy or sell a house deserves great service, regardless of price or effort needed.” 3. Create attractive flyers for every listing. “Even though everything is digital these days people still like to have paper in their hands,” she says. 4. Send out formal closing invitations. They look like wedding invitations and they make buyers feel as if they’re going to the “event of the year.” Hines says her buyers love the special touch. “It’s a classy way to tell them when and where the closing is.” 5. When a property goes under contract, print some return address labels for your buyers. “That way, they can start telling everyone about their new address right away and make the moving process smoother.” 6. Bake pies for your past clients. “Every Thanksgiving for the last 12 years we’ve been making and delivering apple and pumpkin pies to all of our past clients,” says Hines.

2017

RPAC PACESETTERS Illinois REALTORS® thanks our “Pacesetter” members who pledged or invested at the $1,000+ level to the REALTORS® Political Action Committee as of March 15, 2017. Ron Abrams Colleen Clavesilla Jayme Ahlden Gary Clayton Lucas Albright Joffre Colbert Loretta Alonzo-Deubel Rob Cole-Dempcy Sonia Anaya James Coleman Kyle Anderson Mark Coleman Nicholas H. Apostal Marsha Collins-Mroz Rebecca Arce Richard Conte John Armstrong Connie Conway Brian Augustine Andrew Cook Jessica Backs Tonya Corder Donna Baker G. Joseph Cosenza Zack Baker Diane Cote Elizabeth Ballis Bill Craig Karen Barbagallo Jean Crosby Jeffrey Barkstall Nancy Crowder Jim Barr Mo Dadkhah Andrey Barshay Patrick A. Dalessandro Ayn Bartok Jill Daniels Jack Bataoel Ryan D’Aprile Jenni Beck Bob Davenport Luke Bell Mary Davis Steve Bennett Kristie L. DeBrun Brian A. Bernardoni Brett Decker Tina Besserman Juan Del Real Cynthia A. Bevis Rebecca DeMond Carrie J. Bey-Little Austin Dempsey Meenu Bhaskar Mark Deubel Aimee Bick Matt Difanis Genie Birch Mario DiLorenzo Ginger Blasingame Bob Dohn Jeb Blasingame Shawnna Donovan Gideon Blustein Ginger Downs Gary Bohn Chad Doyle Lori A. Bonarek Judy Doyle Stacy Borho Inez Drayton Pam Borowski Linda Dressler David Bovyn Mike Drews Laura Boyer Robert Eby Mitzi Brandenburg Stephen Ellerbrake Thomas M. Bretz Sanina Ellison Wayne Brinkmeier Bill Embry Carla Brinkoetter Michael Emery Jon K. Broadbooks Kristie Engerman Liz Brooks Ron Ewing Conor Brown Matthew Farrell Peggy Brown Arturo Flores Anthony Buscher Harry Fournier Mike Buscher Warren Frank Kristen Butcher Kathy Frankenberger Pat Callan Deb Frazier Teresa Camarato Cherity Freeze Dominic Campo Linda Frierdich Nicholas Campo Kevin Fritzsche Doug Carpenter Tyler Fuhr Becky Carraher Ferdie Garcia William Caton Kathleen A. Garst Carolyn Catton Betty Gauze Jason Catton Antje Gehrken Christine Chase Bev George Philip E. Chiles Bobbie Gerbrecht Grayson Robert Chipman Judy Gibbons Tommy Choi Joe Gilfillan

John E. Ginder Lynn Klein Sue Miller Julie Roth Dave Thompson Michael Gobber John Klemm Suzanne Miller Thomas Roth Rebecca Thomson Daniel L. Goodwin John C. Kmiecik Max Mitchell Edward Ruettiger Susan Tretter Grace Goro Daniel Kniery Ezekiel “Zeke” Morris Kim Ruhl Stacy Tucker Sharon Gorrell Nancy Koch Jim Mulvoy John K. Rutledge Vicky S. Turner Linda Green Marilyn Kohn Todd Musso Cheryl Ruzich Loreal Urso Joel Green Jeff Kolbus Steve Myers Tim Ryan Kevin Van Eck Jeff Gregory Wendy Kolbus Dave Naso Eric Ryden Erika Villegas Sheryl Grider Whitehurst Thomas Krettler Ed Neaves Emily Sachs Wong Steve Volkodav Judy Griffin Thomas Krieger Scott Newman Dan Sale John P. Vranas John Grissom Brad Krueger Myra Nimchaiyong Deb Sanders Dan Wagner Mike Gross Wayne Kurchina John Nimmo Deb Sarsany Jim Waller Brande GuilmetteBrian Kwilosz Christopher Norton Rob Schaid Sarah L. Ware Erin Weber Hampton Mary Ann Ladendorf Michael D. Oldenettel Chris Schaller Frank Wehrstein Mabél Guzmán Julie Lading Mike Onorato Lindsey Schendel Carolyn Weinert Jim Haisler Michelle Largent Piero Orsi Kristene Schmitt Celeste Wheeler Tammy Hajjar Miller Ed Larsen Megan Oswald Janell Schmittling Heather Wiedrich Mari Halliday Jeff Lasky Carrie Ottum Barbara J. Schori Rob Wigton Maurice A. Hampton John Lawrence Tammy Anderson Owens Gerry Schuetzenhofer Tracey Williams Adrianne Han Heidi Lawton Heather Oyler Mike Scobey Norm Willoughby Dallas Hancock Marki Lemons Ryhal Zachary Oyler Timothy Sebastian Penny Wilson Keith Hancock Debbie Lence Charay Palmer Chris Seniker Kay Wirth David Hanna Claire Leopold Patricia Palzet-Taylor Sarah Seniker Sue Wiskowski-Fair Lee Hansen David A. Levin Judy Panozzo Mike Shadwick Mary Wlodarski Joe Hardin Jean Lewis Wayne Paprocki Brandon Shaffer Brian Wood Doug Hartmann Nick Libert Karen Parent Tracy Shaw Suzanne Wood Doug Hartmann, Jr. Jane Locascio Michael Parent Kathy Shemwell Amanda Wycoff Tanya Hawkins Adam Lofgren Alisa Patterson Margery Shinners Angie Zahn Carrie Healy John Lofgren Debbie Pawlowicz Pradeep Shukla Joyce Zelazik Jana Heffron Ann Londrigan Doug Payne Nancy Siegmund Deena Zimmerman Corey Heidkamp Jon Loquist Grigory Pekarsky Stan Sieron Dawn Zurick Kristine Heiman Cathy Madaus Christine Pepmeyer Vicky Silvano Bloomington Normal Matt Hernacki Lynn Madison Adam Perkins Matt Silver Association Ruth Drussy Hernandez Susan Madison Matt Persicketti Jim Sim of REALTORS® Chris Hilton Ed Mahoney Trent Peterman Michael Simpson Champaign County Tammy Mitchell Hines Neil Malone Becky Peterson Margie Smigel Association Larry Hines Michael Maloof Christopher Pezza Bryson Smith of REALTORS® Madeline Hoeft Erin Mandel Georgia Pierini James Smith Chicago Association of David Holden Jan Mandis Nykea Pippion McGriff Kelly Smith REALTORS® Susan Holden James L. Manning Paul Pless Gail Spreen Egyptian Board of John Horton Leigh Marcus Paul Polarek Ginger Sreenan REALTORS® Larry Hundman Branden Martin Sam Powell Cara Srogus Heartland REALTOR® Dana Hybl Diana Massey Debbie Prodehl Greg St. Aubin Organization Karen Irace Mark Massey Dawn Purple Don E. St. Germaine, Jr. Illinois REALTORS® Marianne James Bill McCarthy John Purple Madelyn Staack Mainstreet Organization Jerry Jansen Pat McCarthy Ken Pytlewski Doris Stephens of REALTORS® Terri Jeffries David McClintock Lisa Radke Angela Stodden MRED Rebecca Jensen Max McComb Patricia Rambo Beth Stopka North Shore-Barrington Bruce Kaplan Kim McCoy Linda Landing Rayho Winnie Stortzum Association of Connie Kappert-Knipp Ki McCurley Chris Read Dede Strano REALTORS® Lisa C. Keating Cindy McDowall Michael Rein Chris Studebaker Peoria Area Association Kim Keefe John McEnroe John Reinert Al Suguitan of REALTORS® Kris Keller Mandy McGuire Janice Ricci Julie Sullivan REALTOR® Association of Kevin Kelly Donna McQuade David Richert Ruta Susinskas Southwestern Illinois Michelle Kelly Carol Meinhart Michael F. Rickert Nancy Suvarnamani REALTOR® Association Joe Kenny Jim Merrion Hugh G. Rider Glenn Swick of the Fox Valley Jessica Kern Renate Meyer Matthew Rittof Jody Talick Three Rivers Association Kerry Kidwell Casey Meyers Celia Robertson Len Taylor of REALTORS® Kyle Killebrew Sandy Michel Stempinski Karen Robertson Reggie Taylor Women’s Council of Vera Kincaid Rhonda Milburn Amy Robey Christopher Tenggren REALTORS® - Chicago Jim Kinney Andrew Miller Millie Rosenbloom Catherine Terpstra Chapter Becky Kirchner Catherine Miller Judy E. Ross Joanna Theismann Amy Kite Lindsay Miller Lisa Klein Rossow Sheila Thomas

RPAC supports candidates for public office who support the real estate industry and protect private property rights.

INVEST TODAY! www.RPACNow.com Disclosure: Contributions to RPAC are not deductible for federal income tax purposes. Contributions are voluntary and are used for political purposes. The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or decision not to contribute. You may refuse to contribute without reprisal. Up to thirty percent (30%) may be sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a. A copy of our report filed with the State Board of Elections is (or will be) available on the Board’s official websitewww.elections. ® ILLINOIS REALTOR July 2017 il.gov or for purchase from the State Board of Elections, Springfield, Illinois. Except as may be required by state or federal law, the Illinois REALTORS® PAC (Illinois RPAC) is not required to refund political contributions. However, a refund request made by a contributor within 30 days of the date of his or her RPAC contribution is received will be considered on a case-by-case basis.

HOMEFRONT By Courtney Westlake

MEET THE 2017 ILLINOIS REALTOR® OF THE YEAR — SUE MILLER Sue Miller has displayed an exemplary dedication to industry education, professionalism and advocacy throughout the span of her 30 years in the real estate industry. In addition to her career as a REALTOR®, Miller has been a committed industry trainer, promoting education, ethics and professional development through the leadership roles she has pursued in numerous organizations, community projects and boards. Miller and REALTORS® of the Year from local associations were honored at a banquet in Springfield on June 6. How did you get started in real estate business? I had another business at the time, but I felt bored with it. I decided to put my love for houses to work, and I flipped a house. I realized during this process that I was spending a lot of money in commission with an agent I didn’t really like. So, I got my license to take care of my own business, and within six months, I was working almost full-time in real estate; it quickly became a career for me. What appeals to you about the industry, then and now? At that time, I would say it was more about greed and making houses more beautiful. But today, it’s about the passion I have for the industry, which provides people the opportunity to choose where they want to live and live how they want to. And we help communities through our advocacy, efforts and work. Real estate is not just selling a house; it’s helping people make the most of their lives and helping communities thrive. How do you navigate the challenging transactions or work-related situations? In today’s market, no two transactions are alike and no two individuals have the same expectations. Whether you’re managing other agents or you’re working directly with a client, you have to really hone in on your listening skills

24 www.IllinoisRealtors.org

Sue Miller, ABR, BPOR, CRS, GRI, ePro, PMN, SFR, SRS, is the managing broker of Coldwell Banker The Real Estate Group in McHenry, Ill. A member of the Heartland REALTOR® Organization, Miller has served two terms as president of her local association and was twice named its local REALTOR® of the year. She is a “Sterling R” contributor to the REALTORS® Political Action Committee and is one of a select few who have been honored with the Illinois REALTORS® Distinguished Service Award. Miller has served on the National Association of REALTORS® Board of Directors, is a past president of the Illinois Chapter of the Council of Residential Specialists and is a member of the Women’s Council of REALTORS®, the Council of Real Estate Brokerage Managers and the Real Estate Buyer’s Agent Council. In 2016, the McHenry Area Chamber of Commerce honored Miller as its “Woman of Accomplishment.”

and hear what your client’s expectations are, and manage that. Years ago, every transaction was basically the same. Today, that’s not the case, so you have to be a good listener and problem-solver, pay attention to details and give everything 150 percent. What advice would you give someone who is just starting out in their real estate career? As a managing broker, I have new people coming to me for advice every day. I tell our new REALTORS®: know your trade, exude confidence, and talk about real estate everywhere you go. You can’t be meek about it; you have to put yourself out there. When you’re new, you don’t have the experience, but you have many people around you to learn from. You need to count on your manager and your real estate community to grow your trade. It’s not about houses and people, but about understanding your industry. You’ve been involved in all levels of the REALTOR® organization. What are some of your top industry achievements? I don’t think being a part of this organization is about achievements; it’s about the changes that your input leaves behind. As a practitioner, you’re up against extraordinary obstacles, ethics, education and more. Being a successful REALTOR® is about collaborating to do the right thing for the industry. When I look back on my career, I’m most proud

that I’ve been able to collaborate with others to make a difference. What are some professional or personal goals you would still like to achieve? You never leave real estate. I will continue to provide service to my clients and future clients. I will continue to lead and manage, and I will continue to share my life with this industry. In a perfect world, I would ultimately love to become the commissioner of real estate and move efficiently toward the solutions of current issues! At the end of the day, I simply want to continue to lead. I want to continue to be in the forefront as a leader and innovator so that the industry continues to move forward, not backward. What real estate issues concern you most today? On the national level, I’m concerned with the pressure to eliminate mortgage interest deductibility and with mortgage affordability. On the local level, property taxes and property conditions are a concern. People can’t afford both higher taxes and continued maintenance of their properties. We need grassroots efforts to keep pressure on our taxing bodies and to emphasize the message that people can’t afford the rising tax rates they’re being asked to pay; we have to fight for other solutions.

Real estate is not just selling a house; it’s helping people make the most of their lives and helping communities thrive. — REALTOR® of the Year Sue Miller What drives you to be so committed not only in the REALTOR® organization but also in your local community?

Miller’s surprised reaction after being announced as the 2017 Illinois REALTOR® of the Year at Illinois REALTORS® Public Policy Meetings earlier this year. She and local REALTORS® of the Year were honored at a banquet in June.

Growing up on a farm, you develop a work ethic and you take on the responsibility of others, whether a human or an animal, and through that, you learn about care. When you grow up and get into the real estate business, those lifestyle guidelines don’t change. I still care about others, and I still want to do the right thing and help my community grow. Whether I’m taking care of chickens or taking care of clients, I try to harm nothing and care for everything. That makes it easy to put in hours, efforts and resources to be a successful real estate practitioner.

What are your thoughts on being named 2017 Illinois REALTOR® of the Year? It’s the greatest honor you can receive to be recognized by your peers. To be singled out among greatness is overwhelming. It still makes me cry that they recognized me for my giving. Being a REALTOR® is what I love and have always loved. To be recognized for what you love to do is just icing on the cupcake. I’m very proud and honored to have been chosen.

Courtney Westlake is a writer and photographer from central Illinois.

Congratulations to the 2017 Local REALTORS® of the Year!

Dan Slagell

Bloomington-Normal Assoc. of REALTORS®

Martin Lipa

Michael D. Oldenettel Mac Boyd (In Memoriam) Capital Area REALTORS®

Susan Gant

Danville Area Board of REALTORS®

Decatur Assoc. of REALTORS®

Laura Boyer

Andrea Greenwalt

Hometown Assoc. of REALTORS®

Rebekah Carlson

Northern Illinois Commercial Assoc. of REALTORS®

Central Illinois Board of REALTORS®

Ayn Bartok

Sharon Pratt

Wayne Kurchina

Greater Gateway Assoc. of REALTORS®

Chris Wilbur

Patrick Dalessandro

Kankakee-Iroquois-Ford Assoc. of REALTORS®

Alice McMahon

Michelle Largent Peoria Area Assoc. of REALTORS®

Hugh Rider

Chicago Assoc. of REALTORS®

Egyptian Board of REALTORS®

Illini Valley Assoc. of REALTORS®

Oak Park Area Assoc. of REALTORS®

Alex Ruggieri

Champaign County Assoc. of REALTORS®

Heartland REALTOR® Organization

Mainstreet Organization of REALTORS®

Regen Johnson

Quad City Area REALTOR® Assoc.

2017 Anne Sadler

REALTOR® Assoc. of Northwestern Illinois

Julie Heltne

REALTOR® Assoc. of Southwestern Illinois

Brad Shields

Rockford Area Assoc. of REALTORS®

Jim Sim

Eve Bremen

North Shore-Barrington Assoc. of REALTORS®

Mark Coleman

REALTOR® Assoc. of the Fox Valley

REALTORS OF THE

YEAR

Three Rivers Assoc. of REALTORS®

ILLINOIS REALTOR® July 2017

Goodwin becomes first recipient of Lifetime Achievement Award By Bill Kozar

Content Marketing Specialist

Even as REALTOR® Daniel L. Goodwin received the first Illinois REALTORS ®’ Lifetime Achievement Award April 24 in Springfield he was teaching others. Goodwin, Chairman and CEO of Inland Real Estate Group of Companies, Inc., was recognized for decades of shaping housing policy at the local, state and national levels as well as adhering to the REALTOR® Code of Ethics and its emphasis on professionalism. The former Chicago Public Schools teacher continues to use his voice to help others. “Dan Goodwin is an example of that rare person who excels not only as a businessman, but also as a compassionate leader who is interested in helping others realize the dream of property ownership,” said Doug Carpenter, Illinois REALTORS® president. “He stands apart for his wise counsel and as someone who has the interests of the real estate industry at heart.” Colleagues from across the state showed their support for Goodwin and for the REALTORS® Political Action Committee (RPAC) as the gathering also served as the RPAC Pacesetter VIP Event kicking off the Capitol Conference & REALTOR® Lobby Day. Illinois Gov. Bruce Rauner, Illinois Speaker of the House Michael J. Madigan, Senate Republican Leader Christine Radogno, House Republican Leader Jim Durkin and other dignitaries celebrated Goodwin at the Abraham Lincoln Presidential Museum in Springfield. “He’s what Illinois is all about; he’s what America is all about,” Rauner said. “He built a great, successful business, but he’s very generous. He gives back to the community, and he’s involved in making our community better in every regard ... He’s a role model and an inspiration for everybody.” His advocacy for private property rights, his voice on industry issues and his support of RPAC have made him an example for colleagues, said Illinois REALTORS® Presidentelect Matt Difanis.

Growth and heart

Nearly 50 years ago, Goodwin and a few fellow teachers from the Chicago Public Schools created their own real estate corporation. Nearly five decades later, Inland has purchased and developed more than $44 billion in real estate properties, and has owned and managed property in 49 states. “No one understands the ‘Power of R’ better than Dan Goodwin,” said Dale Stinton, Chief Executive Officer for the National Association of REALTORS® (NAR), as part of a video presentation at the event. “His middle initial should be ‘R’ because no one conveys a sense of professionalism, and a code of ethics and standards . . . better than he does.” In 1980s and 1990s, Inland was one of the largest owners of apartment buildings in the country, and Goodwin saw that low-income families needed reasonably priced apartments. He studied the issue. Then, in 1994, Goodwin founded New Directions Housing Corp., a nonprofit organization to create and preserve affordable housing in Illinois. To date, 26 www.IllinoisRealtors.org

New Directions has created nearly 500 multifamily apartments valued at almost $80 million, said Rodger Brown, New Directions President.

Looking back

In accepting the Lifetime Achievement Award from Illinois REALTORS®, Goodwin urged colleagues to thank legislators for working long hours with little reward. He encouraged REALTORS® to stay politically involved in local, state and national issues and represent the voice of property owners and real estate professionals. Goodwin is a member of the Chicago Association of REALTORS® Hall of Fame, the Illinois REALTORS® RPAC Hall of Fame and the NAR Hall of Fame. He’s received the Investment Program Association’s Lifetime Achievement Award and Real Estate Executive of the Year from the American Business Awards. In 2015, he received the NAR Good Neighbor Award. Former Illinois Gov. Jim Edgar appointed Goodwin to the Illinois Housing Development Authority Trust Fund and he held the role for 10 years. In 2016, Goodwin received the Robert Christ Affordable Housing Award from the DuPage Homeownership Center for his commitment to affordable housing initiatives. Benedictine University in Lisle named a building and its business school after Goodwin. Northeastern Illinois University named its college of education after him, too. “Dan Goodwin leads from the front. More important, Dan Goodwin teaches from the front,” said Carpenter. “He teaches us how to do business and do it in an honorable, compassionate way. He teaches us how to make a difference in our communities and in our businesses.”

BGA renames award after Goodwin

In early May, the Better Government Association announced that it would name its annual Watchdog Award after REALTOR® Daniel L. Goodwin. When honored with the Watchdog Award in 2016, BGA recognized Goodwin for his advocacy for government reform in Illinois, as well as his lifetime achievements in business, philanthropy, economic development and civic engagement. The BGA noted Goodwin’s work as DuPage Airport Authority chairman should serve as a national model for government working in the public’s best interest.

REALTOR速 Scholarships NEW

$1,500

$500

ROBERT E. COOK SCHOLARSHIP

DAN BOCK SCHOLARSHIP

PAST PRESIDENTS SCHOLARSHIP

For candidates pursuing a course of study relating to the field of association management

ROXANE MALO LEADERSHIP SCHOLARSHIP

For GRI designees to attend the Graduate, REALTOR速 Institute (GRI) of Illinois

For the expansion of leadership skills in real estate

Deadline: October 1

Deadline: September 1

For additional scholarships, including those that are open throughout the year, visit www.ilreef.org

For Illinois REALTORS速 members to pursue a CRB, CIPS, CIM or RCE designation Deadline: October 1

Since 2000, REEF has awarded scholarships totaling over $565,000, helping Illinois real estate professionals fulfill their educational dreams and pursue their careers in the real estate industry. www.ilreef.org

2017-July-mag-ad_REEF-Scholarships-half-page.indd 1

5/23/2017 11:24:48 AM

ILLINOIS REALTOR速 July 2017

COMMERCIAL CORNER ILLINOIS REALTORS® RETURN TO MIPIM, FORGE INTERNATIONAL CONNECTIONS By REALTOR® Alex Ruggieri For the third year, Illinois REALTORS® represented and promoted the state’s real estate market and all it has to offer global investors at MIPIM, the world’s largest real estate conference held each March in Cannes, France. REALTOR® Alex Ruggieri asked Illinois REALTORS® officers and the CEO of Intersect Illinois to share their thoughts on the industry benefits and global connections made at the event.

Illinois REALTORS® President Doug Carpenter, ABR, AHWD, GRI, SFR Repetition gets you noticed in any business. The simple act of showing up at an event each year pays dividends whether you are in Illinois or traveling six time zones away to one of the largest real estate conferences in the world. Illinois REALTORS® sent a delegation to the annual MIPIM conference, a massive event attracting more than 20,000 people. This is a conference where repeat attendance is highly valued. For Illinois REALTORS®, MIPIM serves two big purposes. First, the event allows us to make sure foreign real estate investors understand the value of doing business with a REALTOR®. The show has traditionally been geared toward European investors, and many of them may not be familiar with the REALTOR® brand and the expertise and professionalism which come with it. A second, but no less important reason to take part has to do with building business. Our association’s REALTORS® who go to the show each year find they make connections which they might never otherwise get to experience. That’s because you can easily find yourself standing next to a decision maker at one of the many educational events or by walking through the massive trade show. Illinois REALTORS® saw increased traffic to our booth at the conference this year, and I can speak from the experience of having gone to MIPIM for three years that many of the people who stopped by already knew who we were and what we represent. Illinois has a great story to tell those who seek to invest here. The association’s MIPIM experience underscores that the real estate business is based on relationships. It doesn’t matter

28 www.IllinoisRealtors.org

Illinois REALTORS® Treasurer Dan Wagner interviews Intersect CEO Jim Schultz about international opportunities for Illinois at MIPIM. Read more and watch this video produced by President-elect Matt Difanis at www.bit.ly/MIPIM2017REALTORS

if you are selling your expertise in your hometown or on a different continent, having ongoing, consistent contact helps you stand apart.

Illinois REALTORS® President-elect Matt Difanis, ABR, GRI MIPIM brings key players from real estate markets around the globe together for four days each March on the French Riviera. The National Association of REALTORS® (NAR), recognizing the tremendous potential for MIPIM to provide a platform for broad promotion of U.S. real estate, sought out globally-oriented state REALTOR® associations to partner with NAR for a larger, higher impact combined footprint at MIPIM. The Illinois REALTORS® made a three-year commitment with NAR, beginning in 2015. Illinois is home to one of the world’s greatest big cities with a multitude of global ties. The state also boasts a world class flagship state university with 10,000 international students in a highly global community. The state offers unique logistical advantages as a hub of railways, interstate highways, trans-continental waterways and one of the world’s busiest airports. Beyond simply having a booth at MIPIM to promote Illinois, our delegation has included key economic development public officials. This year the Illinois REALTORS® brought Jim Schultz, Gov. Bruce Rauner’s former director

of the Illinois Department of Commerce and Economic Opportunity. More recently, Schultz co-founded and led Intersect Illinois, a public-private economic development entity for the state. During a session, featured panelist NAR Chief Economist Lawrence Yun made the point that longtime strong demand for investments on the coasts had led to downward pressure on cap rates. That, in turn, has led to increased interest on global investments in more central areas of the U.S., such as Illinois, where cap rates are typically higher. Additionally, lower prices offer more investment opportunities that won’t exceed lump sum international wire transfer limits. In addition to promoting greater awareness of global investment opportunities in Illinois generally, the Illinois REALTORS® presence at MIPIM also provides specific opportunities for our members. Several of our members attended on their own dime, finding that their opportunities to connect with potential clients were significantly enhanced by the base of operations they enjoyed at the U.S. Pavilion that included NAR and Illinois REALTORS®. MIPIM has become a platform from which the Illinois REALTORS® has forged new strategic relationships, nurtured existing relationships, and has provided members with opportunities to grow their businesses — all while attracting foreign capital to Illinois.

Illinois REALTORS® Treasurer Dan Wagner What do REALTOR® associations from Beverly Hills, Miami and Illinois have in common? All of them were part of the strategic vision the National Association of REALTORS® (NAR) represented at the MIPIM Conference. Former bank robber Willie Sutton once replied to a reporter’s inquiry as to why he robbed banks by saying “because that’s where the money is.” A similar thing can be said regarding why the Illinois REALTORS® are representing the Land of Lincoln’s real estate industry in France: “Because that’s where the deals are!” When people from around the world look at making a real estate investment, the first place they look to is the U.S. because of market stability. As the largest real estate organization in the world, NAR’s participation at the international convention is vital for its members’ interests. NAR provided space for associations to promote their state or city, so it only made sense that Illinois REALTORS® made the investment to represent our members. The atmosphere at MIPIM is absolutely electric with over 20,000 attendees who all are looking to make a deal. Illinois REALTORS® members who traveled to MIPIM saw their commitment pay off with an entirely new clientele list for commercial and residential opportunities. Facilitating international investment is clearly in NAR’s long-term view, and I am honored to say that Illinois REALTORS® shares that view. When someone from another country came up to our booth, we were able to point with pride to the many investment opportunities and attributes the state offers.

Chairman/CEO of Intersect Illinois Jim Schultz In March, I was honored to be a part of the delegation representing Illinois REALTORS® at the MIPIM conference on the shores of the Mediterranean Sea in Cannes, France. Our objective of creating new relationships for future business opportunities was fulfilled as we were matched and connected with groups representing investors, developers and company executives seeking new opportunities in the U.S. It was apparent at this conference that the recent change in leadership in Washington, D.C., has created a resurgence in foreign investment interest in U.S. real estate. This too, could be driven by continued strong interest in safe-haven investment considerations such as the U.S. Be that as it may, we met with interested groups from such places as Dubai, London, Paris, Germany, Japan and China, to name a few — all with a strong interest in U.S. real estate investment opportunities. While the aqua-blue seas and pristine beaches in sunny Cannes were tempting, our opportunity to frolic was limited to early morning walks or late afternoon strolls to and from the conference center. Our days were filled with meetings and discussions at the conference center called Palais des Festivals. The name of the venue in and of itself exemplified the outcome of the conference as our delegation, to a person, felt that

Associations and Organizations at MIPIM Illinois REALTORS® was joined by a number of other associations, including: • Beverly Hills/Greater Los Angeles Association of REALTORS® • Miami Association of REALTORS® • Missouri REALTORS® • Nevada/Las Vegas/ Reno Association of REALTORS®

• Rhode Island Association of REALTORS® • Scottsdale Area Association of REALTORS® • Washington Association of REALTORS® • CCIM Institute • IREM

Illinois REALTORS® CEO Gary Clayton, Treasurer Dan Wagner, President Doug Carpenter, Intersect CEO Jim Schultz, Illinois REALTORS® Immediate Past President Mike Drews and President-elect Matt Difanis

ILLINOIS REALTOR® July 2017

there was much to “celebrate” in the number of relationships which we developed for future real estate opportunities in Illinois. Illinois REALTORS® should be applauded for the leadership of Gary Clayton’s team and the members who attended, including officers Doug Carpenter, Matt Difanis, Dan Wagner and Mike Drews. The Illinois REALTORS®’ presence at MIPIM connected Illinois to the world — and, this is something all members should celebrate. Intersect Illinois is a 501(c)(3) organization created by Illinois Governor Bruce Rauner which is dedicated exclusively to increasing Illinois’ competitiveness for job creation and investment. See http://intersectillinois.org

About the writer: REALTOR® Alex Ruggieri, CCIM, CIPS, CRE, SEC, MBA, is a senior investment advisor with SVN-Ramshaw Real Estate in Champaign. He is currently serving as Chair of the Illinois REALTORS ® Global Working Group. He is also a member of NAR’s Commercial Committee and is currently serving as Chair of the Commercial Leadership Forum. He can be reached at alex.ruggieri@svn.com

Professional Licensure Defense Attorneys Successfully representing applicants & licensed real estate professionals before the Illinois Department of Financial & Professional Regulation (IDFPR) for over 20 years! Call today for a free consultation: (877) 440-0020

L AW O F F I C E S

77 W. Washington St. Suite 1220 Chicago, Illinois 60602 tom@attorneyzim.com www.attorneyzim.com IL Realtor - Print Ad - Quarter Pg 3.indd 1

5/17/17 12:59 PM

SAVE t he

DATE

CONFERENCE & EXPO 2018 May 2-3 Advocacy • Education Ethics • Legal

COLLINSVILLE GATEWAY CENTER

www.IllinoisRealtors.org

+ Top Real Estate Vendors MAY 2-3, 2018 Earn 6 hours of CE 65 ® Networking Expert Speakers REALTOR COLLINSVILLE GATEWAY CENTER

30 www.IllinoisRealtors.org

2017-July_Mag-Ad_Conference_Save-the-Date_c.indd 1

5/23/2017 11:25:21 AM

Mike Scobey | Director of Local Advocacy and Global Programs

2017 REALTOR® INVOLVEMENT IN ELECTIONS — MAKING IT COUNT Illinois REALTORS® and the REALTORS® Political Action Committee (RPAC) demonstrated the association’s political strength in the 2017 municipal election cycle. This was done through support to candidates throughout the state with direct RPAC contributions, as well as targeting candidates in tough battles with extra support through direct mail and other outreach efforts (these are known as “Independent Expenditures”).

These two types of support — RPAC contributions and Independent Expenditures — enable Illinois REALTORS® to have a respected, political presence at the local level. This involvement is important because local governments have the ability to enact numerous measures which impact the real estate industry and real property rights. Our election activity helps us put in office officials who support the industry and property rights.

In the April 4 local elections, Illinois REALTORS® significantly increased the volume of our engagement. Look at the numbers:

RPAC supported candidates for local office.

291,700.....

mail pieces were sent to likely voters in those 19 jurisdictions.

Of those, of the candidates were victorious in their races.

Of these,

19 candidates

were supported with Independent Expenditures.

Illinois REALTORS® Defeat Home Rule in Five Municipalities Illinois REALTORS® delivered crushing defeats to Home Rule referenda in the communities of Lynwood, Ottawa, Coal City, Warrensburg and Creve Coeur. The April 4 election defeats were at 2-to-1 margins or more. Why do we fight Home Rule measures? Home Rule is a form of municipal government which enables several policies that are troubling to REALTORS® and property owners including: real estate transfer taxes, point-of-sale home inspections, rental property inspections and licensure. Home Rule units also have the ability to increase property taxes without any kind of limitation.

36,000

mail pieces were sent to likely voters in five municipalities seeking Home Rule power. All five referenda were defeated.

ILLINOIS REALTOR® July 2017

What common values Illinois REALTORS®?

connect

By Gideon Blustein, Illinois REALTORS® Member Outreach Manager

From Downers Grove to Evanston, Cairo to Edwardsville and Roscoe to Normal, the Illinois REALTORS® Outreach Team travels widely to meet with REALTORS® at company office meetings, corporate events, new member orientations and other local association events. The Member Outreach Team includes Local Governmental Affairs Directors Kyle The Outreach Anderson, Gideon Blustein, Conor Brown, Team has Kristie Engerman and Beth Wanless, who identified some encourage RPAC participation, advocacy involvement and reinforce the core service significant areas of the Illinois REALTORS®. While the common values Outreach Team presents the “Vote, Act, Invest” they also listen, observe and learn amongst the message, about the diverse REALTOR® community. membership: Despite the many miles that separate different regions of the state and the diverse backcommunity, grounds that have led individuals to become dedication and REALTORS®, the Outreach Team has identiconnection. fied some significant common values amongst the membership:

Above: Kristie Engerman (far left) gave the latest updates on member resources, tools and advocacy with the members of RE/MAX Traders Unlimited in Peoria; Managing Broker Janet Jordan.

Marisa Pan, managing broker Pan Realty of Naperville, invited Gideon Blustein to share member resources and governmental affairs updates with her agents.

XX Community-oriented: It is a rare office visit that does not include a managing broker signing up agents to participate in some event that benefits the local market. REALTORS® across the state assist the homeless, elderly, veterans, children and shelter animals. REALTORS® are also often at the core of events such as farmers markets, car shows, business afterhours and parades. One favorite is a company in the suburbs of Chicago that organizes a safe Halloween party and costume parade for local kids at a historic movie theater. XX Dedicated: Here is something you probably already know; being a REALTOR® is not easy. The Outreach Team has observed an amazing amount of dedicated small business owners who have mastered time-management, social/digital and traditional marketing, customer service, economic, legal and ethical knowledge — often from scratch! That type of speed learning takes dedication. XX Connectors: REALTORS® often work in “coopetition;” this is the skill of competing while also cooperating in the market. REALTORS® are prolific connectors with formal and informal networks of clients and industry professionals. Today’s competitor may be tomorrow’s referrer. 32 www.IllinoisRealtors.org

Conor Brown of the Member Outreach Team visits with agents of the Keller Williams Success Realty office in Barrington; Managing Broker Sandra Borland.

Frankly, these REALTOR® qualities make the Outreach Team’s role unbelievably rewarding. However, the association does not just conduct outreach because it is fun. Engaging REALTOR® members on their turf has helped increase awareness of Illinois REALTORS®’ services, investments in RPAC and sign-ups for the Calls for Action via text message. In a recent survey, 94 percent of managing brokers of large firms agreed that RPAC is important to their business.

ETHICS HEARINGS The Illinois REALTORSÂŽ Board of Directors approved publishing the results of ethics hearings throughout the state. These are the conclusions of ethics hearings and are not part of the Ethics Citation Program.

TIME PERIOD: Oct. 1, 2016 to March 31, 2017

Articles found by a Hearing Panel to have been violated and ratified by the Board of Directors

Previous violation(s) in last three (3) years?

Discipline and fines imposed

Complaint #1

Article 1

Letter of Reprimand, $1,000 fine and one continuing education course

Complaint #2

Article 1

Letter of Reprimand and one continuing education course

Complaint #3

Article 1

Letter of Reprimand, $2,000 fine and one continuing education course

Complaint #4

Article 1

Letter of Reprimand

Complaint #5

Articles 1 & 3

$1,000 fine and one continuing education course

Complaint #6

Articles 1, 9, 15 & 16

$5,000 fine and two continuing education courses

Complaint #7

Articles 1 & 3

$1,500 fine and two continuing education courses

Complaint #8

Article 3

$1,000 fine and one continuing education course

Complaint #9

Article 3

Letter of Reprimand and $500 fine

Yes

Complaint #10

Article 3

$5,000 fine, membership suspension for four months, two continuing education courses; Letter Yes of Reprimand

Complaint #11

Article 3

Letter of Warning

Complaint #12

Article 3

Letter of Reprimand

Complaint #13

Article 4

Letter of Warning and one continuing education course

Complaint #14

Article 10

Letter of Reprimand and a Fair Housing Course

Complaint #15

Article 12

Letter of Warning

Complaint #16

Article 13

Letter of Warning

Complaint #17

Article 15

$500 fine and one continuing education course

Complaint #18

Article 15

$500 fine and one continuing education course

Complaint #19

Article 15

$500 fine and one continuing education course

Complaint #20

Article 16

$3,000 fine

Complaint #21

Article 16

Letter or Reprimand and one continuing education course

Complaint #22

Article 16

Letter of Warning and one continuing education course

ILLINOIS REALTORÂŽ July 2017

REALTOR® COMMUNITY FOLLOW US:

Neaves Chosen as 2018 Treasurer Nominee

President Doug Carpenter with Ed Neaves (right) at Capitol Conference. Photo credit:Terry Farmer

Ed Neaves, president of the Bloomington-Normal Association of REALTORS® and an Illinois REALTORS® board member, has been named 2018 Illinois REALTORS® treasurer nominee. Neaves is the managing broker of Berkshire Hathaway HomeServices Snyder Real Estate in Bloomington, and is committed to fostering grassroots involvement and political advocacy in the REALTOR® community at the local, state and national level. An Illinois REALTORS® Board of Directors vote is expected to formally place Neaves on the leadership ladder later this year.

Melanie Stone Named to ’30 Under 30’ Congratulations to Chicago REALTOR® Melanie Stone on being named to REALTOR® Magazine’s “30 Under 30” Class of 2017. Stone, 23, is a broker with Coldwell Banker Residential Brokerage in Chicago and is on the board of directors for the Women’s Council of REALTORS® Chicago Chapter.

Capital Area REALTORS® Get Third Consecutive NAR RPAC Award The Capital Area REALTORS® finished second in RPAC fundraising for medium-sized local associations during 2016. The “Award of Excellence” came for raising $62,138 in 2016, achieving a 77 percent participation rate with more than 6 percent of its members (41) as major investors.

Illinois REALTORS® Meet with Japanese Consulate

REALTOR® Ayumi DeLoney, a broker with Jameson Sotheby’s International Realty and Illinois REALTOR® Liaison to the Consulate General of Japan led a discussion with Economic Consul staff this spring. Pictured are (left to right) REALTOR® Vicky Silvano, Economic Section Consul Keizo Shirakura, Special Researcher for the Consulate General Hisayo Matsumoto and DeLoney.

Highlights from Illinois REALTORS® Conference & Expo Hundreds of Illinois REALTORS® attended the association’s Conference & Expo in Collinsville in May. This year’s two-day event featured sessions with Leigh Brown, Anthony Huey, Kiki Wanshura, Marki Lemons Ryhal and Mark Given.

34 www.IllinoisRealtors.org

RISE HIGHER THIS FALL A T T H E 2 0 1 7 R E A L T O R S® C O N F E R E N C E & E X P O N O V. 3 - 6 | M C C O R M I C K P L A C E – W E S T B U I L D I N G | C H I C A G O Chicago has always been a place where people have dreamed bigger, reached further and worked harder to achieve their goals. And this year, you will have an opportunity to do just that at the 2017 REALTORS® Conference & Expo, taking place in your home state of Illinois! Catch up on the latest industry trends from 100 education sessions, explore the hottest technologies from over 400 exhibitors, and network with 20,000 of the industry’s most successful real estate professionals.

SKY’S LIMIT THE

THE

R E A LTO R S C O N F E R E N C E & E X P O ®

CHICAGO 2017

I L L I NOI S RE A LT ORS ® C A N AT T E N D T H E

REALTORS® EXPO FOR FREE! CHOOSE THE “EXPO-ONLY” PASS OPTION, AND ENTER IAR17 IN THE PROMO CODE BOX WHEN REGISTERING.

R E G I S T E R T O D AY A T W W W. R E G I S T E R . R E A LT O R L E A R N M O R E A T W W W. C O N F E R E N C E . R E A LT O R

ILLINOIS REALTOR® July 2017

36 www.IllinoisRealtors.org