Our Mission:

Our mission is to provide a full service real estate experience to our clients that is unmatched in the indusrtry.   The Wallace Group specializes in the real estate needs in the greater Chicagoland area since 2006.  Whether you’re a first time buyer or a savvy real estate investor, the Wallace Group is positioned to not only to satisfy your real estate goals, but to exceed your expectations in the overall experience.

Surviving the Real Estate Industry

 Surviving the Business of Real Estate

By Jay Camp

 

There is something to be said for the security of a consistent paycheck that the corporate world provides.   It isn’t something you really think about until you put yourself in a position where the next check isn’t a guarantee.  It is a feeling that is exciting, liberating, and scary at the same time.  Exciting and liberating that there is no cap to what can be earned, and you truly are your own boss, scary that you don’t have that security blanket of a consistent paycheck.

 

We live in a society that is built around the system of a bi- weekly or monthly paychecks.  Bills are always due every 30 days regardless if a check is around the corner.  The life of a real estate agent doesn’t fit the mold and goes against the grain of our financial system.   In real estate you need to invest in yourself and your business.   When I entered this industry I had to spend most of my savings and all of my time making it work.  Everyone in this business has gone through it, and it really makes you understand why 73% of all agents leave after the first two years.   

 

There are many questions to ask yourself if you plan to join the real estate market.  It’s an incredible industry that is fun and full of opportunity.  But why do so many people fail and what are they doing wrong?  How can the people entering this industry be successful when the business is much less friendly to new comers than years past?  What bad habits exist that worked in a hot market, but will kill you today?  And is this a good time to enter this industry?

 

From my experience the best advice I can give may sound simple but it’s hard to do .  “Do the things other people aren’t willing to do, and do them better than anyone else……..period”. 

 

With that said, the first thing to understand are the things a lot of real estate agents fail to do that are crucial to being successful in this business:

 

• Pick up the phone and cold/warm call prospective clients
• Ask for referrals and train your network to get their contact information to YOU
• Write up a detailed business plan that includes a one, three, and five year plan
• Proactively get referrals from your network of A people
• Create a online presence for your self and your business
• Diversify what you specialize in to balance the cycle of the market
• Work Hard everyday and define what a successful day means to you
• Track your activity and measure your results, making adjustments when needed
• Have Annual customer appreciate events exclusively for your clients
• Send out monthly new letters to your A network
• Drop off items of “value” to 20-25 people in your network 4 times a year
• Be organized and manage your time well
• Have fun and be passionate about what your doing

 

It is difficult at times to stay on track with the above activities.  A great question to ask yourself everyday; “Is what I am doing right now going to directly impact my sales this year”.  If the answer isn’t clear, you may want to rethink you daily routine or do a better job of prioritizing what’s important.  At this point I am far from my goals in this business, but focusing on doing what other won’t, and staying focused on driving my sales have helped  enjoy this business a lot more than being afraid of it..

 

Cheers to all that decide to follow a dream and at times go against the grain.

December Newsletter – Lincoln Square “Home for the Holidays”

Home for the HolidaysSearching for or selling a home in November or December can be stressful in addition to the built-in holiday frenzy. These simple tips for buyers and sellers can minimize stress and possibly facilitate a sale. Sellers.

• Less is more when decorating a home for the holidays while you are trying to sell. Streamline the amount of holiday specific decorations you display.
• Large over-size Christmas trees and other holiday decorations consume space that might make rooms or landscapes appear smaller.
• Install and remove exterior holiday decorations 2 weeks before and after holiday.
• Before showings remove snow, ice and leaves from walkways and driveways.

Buyers.

• You can find motivated sellers at year-end, but don’t think they’ll give away their home. Do your homework before drafting a real estate contract. Look only at sold comparable’s from the last six months.
• When performing a home inspection in wintry weather, it’s easy to forgo adequate roof and air-conditioning condenser reviews. If you can’t see or operate a structural or mechanical system, ask for an extension until the weather improves.
• Patience rules at the holidays. Everyone is busy, and if it takes an extra day to view a property, it’s not uncommon.

Information on

Lincoln Square

Chicago is a city defined by its neighborhoods, and Lincoln Squareis one of its most vibrant. Located in the heart of
Chicago’s North Side,

Lincoln Square

conveniently connects with the city’s major thoroughfares and public transit, including the CTA Brown Line, the Metra Union Pacific North Line, Western, Lawrence, Lincoln, Montrose and Foster Avenues. About 40,000 residents from cultures around the world live side by side on

Lincoln Square

‘s tree-lined streets and patronize its mixture of independent and one of a kind businesses. Since the area was developed a century ago,

Lincoln Square

has been a desirable neighborhood to live, work and enjoy life. 

Upcoming Events in

Lincoln Square

Friday, December 1st – Sunday, December 3rd

Giddings
Plaza,

4731 N. Lincoln Avenue

Celebrate the holidays and get all your shopping done at the Lincoln Square Holiday Festival. Visit our warm & decorative holiday tent for great food, drinks, live music, cultural performances, kid’s activities, chair massage, tree lighting and horse drawn sleigh rides! Vote for your favorite businesses holiday window display! Have your picture taken with Santa! Entry is free and open to the public.  For a schedule of events please check out the

Lincoln Square

website-http://www.lincolnsquare.org/index.phpGrowth in

Lincoln Square

One Bedroom           

              Listed              Sale

2004    $187,015         $186,887

2005    $195,680         $193,030

2006    $218,139         $215,392 

Two Bedroom          

             Listed              Sale

2004    $330,869         $328,035

2005    $354,414         $351,333

2006    $353,207         $349,611  

Three Bedroom           

             Listed             Sale             

2004    $401,197         $396,094

2005    $421,197         $417,891

2006    $420,736         $415,519      

Multi-unit

             Listing              Sale

2004    $645,239         $621,794

2005    $864,989         $840,398

2006    $784,107         $752,467

 

Single Family

            Listed               Sale

2004    $704,099         $684,824

2005    $802,589         $785,241

2006    $904,218         $875,422