In our September episode of Monday Market Minute, Carrie McCormick from @properties discusses how she uses the data from the weekly market activity report issued by the Chicago Realtors Association to pivot the current shifts in the market. Carrie also discusses what to do as real estate professionals during this time to make the properties you represent attractive. D.J. emphasizes the importance understanding where you are as a realtor at the moment and the importance of a realtor's cooperation with loan officers. Last, D.J. explains what a holding company is and how real estate agents that are thinking of exiting the market can use them.



If you’d prefer to watch this interview, click here to view on YouTube!



Carrie can be reached at [email protected] or by phone at 312.961.4612.



Please follow Carrie on Instagram by clicking here.



This episode is brought to you by Real Geeks, Reblie and FollowUpBoss.







Transcript



D.J. Paris 0:00How does one of the top Realtors in the country use market statistics to stay ahead of the competition? We're going to find out today. Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this next year? And do you have the right tools? Is your website turning soft leads into interested buyers? And are you spending money on leads that aren't converting? We'll find out why agents across the country come to real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering Realtors a real estate sales and marketing solution to generate more business. Real geeks is easy to use. Their websites are fast and built for lead conversion with a smooth search experience for the end user. Real geeks is mobile friendly delivering an excellent user experience on the go. Real geeks includes an easy to use CRM. So once your leads sign up on your website, you can track their interest and have great follow up triggers. Real geeks is loaded with tons of marketing tools to nurture your leads and increase your brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod. This episode is also brought to you by readily aerial maps. An aerial retail map can sell a commercial listing before it investor ever sees the property. But creating retail maps takes hours robbing you of time you could spend selling real estate. And if you're tired of spending late nights scouring the internet for retailer logos to populate your commercial real estate map or you're tired of paying a designer hundreds of dollars to do it for you. While you'll love rapidly. Now readily is a real estate map generator that lets you create custom designed professional aerial retail maps for your commercial sales buyers and listing appointments in minutes not hours. Simply enter the subjects property address, auto populate nearby retailer logos with the click of a button and download your aerial retail map readily turns the headache of creating commercial property maps into a quick five minute task so you can spend less time making maps more time making money. So get your first aerial retail map for free today by visiting readily.com. That's REBL i e.com. And sign up for an account no credit card required. And now on to our show.



Welcome to keeping it real, the largest podcast made for real estate agents and by real estate agents. My name is DJ Parris. I'm your guide and host through the show. And today on the show is our monthly series called The Monday market minute with Carrie McCormick from the Cary McCormack Real Estate Group. With that properties here in Chicago. Now Carrie is a top 1% producer with over 20 years of experience helping buyers, sellers and investors. In fact, in the past 12 months out of 46,000 real estate agents here in the Chicago area, she is in the top 15, not 15%, the top 15 out of that entire 46,000. She's a true superstar and expert in everything from first time homebuyers, veteran investors, and luxury properties. She also works with a lot of developers and is often chosen to represent their high end developments, please visit Carrie at our website, which is Carrie McCormick r e.com. Also follow her on Instagram at Carey McCormick real estate. Both of those links are in our show notes. Carrie, welcome once again to the show.



Carrie McCormick 3:50Thank you as always.



D.J. Paris 3:54All right. Well, what's what's happening right now? It's, it's now the end of September. Last quarter, and what are you what are you thinking about? Like, what's what's big in your world right



Carrie McCormick 4:07now? Yeah, so obviously, you know, we're headed towards the end of the year. So there's always a big push to, to finish out the year strong. And as everyone's been talking about, we've had a significant market shift. So, you know, those of us who've been in the industry for a long time, I've been in the industry for 22 years, you know, we know how to pivot, right? And it's important that we pay attention to market and we do that. One thing I do consistently is you know, research on the market and reading different articles and different you know, facts about it. And one thing I just wanted to share with everyone that's here in Chicago is I we have the Chicago Association of Realtors, of course and we have these, what we call faststats These are very informative, you know stats on the market and it can drill down to all over Chicago to specific neighborhoods and I always find that these are A great resource of information. And it's interesting, I was talking to a colleague, when I usually pull these all of these numbers, you probably can't see him. But you know, we're all these big pluses of inventory. And you know, the amount of contracts and pricing, it was always these double digit, plus numbers. And now I look at I pulled it this morning, they're all negative. So we've got, you know, negative listings coming in the market, we've got under contract is down, home for sale is down. So we've got, obviously, you know, indications of shifts in the market. But instead of focusing this time on this market shift, I wanted to talk about what we can do as brokers during this time, right. And as we hold on to our inventory, and we've got our inventory here, some of the stuff is not moving, right, some of our listings are not moving. So what can we do, and I think the number one thing to do is to do a price change. And all of us know, when we approach a seller and say we need to talk, you know, they know that we're coming to them with a price change. But before we go into the price change, I always like to make sure that we've exhausted every other avenue. And you know, part of it is going to be the number one thing is communication, right? So all along from the start of your listing, you've got to communicate with the sellers on what is going on. Because again, once you get to the point where you do need to ask for a price change. There's been the communication with them. So you know, one way to communicate with them is through current CMAs is give them an update of what's happening in the market, what is selling what is not selling, so that they are engaged with what's happening in the market. Also, feedback from all of the showings is, you know, after showing, obviously, you have immediate feedback from the buyers, but follow up with that agent, you know, one or two times to find out, you know, where did they buy? Why did they buy this house? What is it and communicate that information over to the sellers? Again, the more information you give to them, you know, makes them feel like they they're engaged, they know that you're engaged in their listing, and that you're trying everything possible.



D.J. Paris 7:16I love that I'm sorry, I just wanted to say I love that because this idea of keeping the sellers informed and saying, Hey, I'm going to chase these agents after the showing and make sure that I have a good sense of what they liked, maybe where they thought we could do some improvement, if any, and just their overall thoughts. And we'll start to see if there's some trends that emerge. I think that's amazing.



Carrie McCormick 7:38Yeah, so that's, I mean, it's, it's, you know, it's easier said than done. But I do think it's an important part of it. And then ineffective marketing. So sometimes, you know, we launch a marketing plan for a home and then after a few weeks, it kind of dies down. So you really do have to relook at your marketing and see what's working and what's not working. And part of that is reevaluating, sometimes the photos that are being used. You know, I just reordered the photos in one of my listings, because one of my listings has a beautiful view of the lake. But the way I initially set up the listing was it went from the foyer to the kitchen to the living room. And once you get to the living room, that's where these beautiful views take place. Right? And I thought okay, so obviously I'm not capturing someone online, why are they not coming to see this property? So I reordered the picture to put the view first, even though it didn't make sense, you know, when you walk into the home, but that is that that million dollar view. So I switched up the order of the pictures, I switched him up in all of my marketing campaigns made that view that first and foremost picture, guess what we had a showing this morning, you know, so you know, people's attention, as we know is very short. So if they get to picture four, and I've not engaged them, they'll swipe right Next, go to the next property. So we have to think about, you know, how is our marketing resonating with the buyer, and really just kind of taking a deep dive into each of your listings of you know,

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