by Stephanie Sievers
Some of the old rules have changed with today’s real estate market and that includes the art of negotiating successful contracts, Instructor Lynn Madison told the packed crowd of Illinois REALTORS® attending her CE course, “Pitfalls and Possibilities: Presenting and Negotiating Contracts” on Wednesday at the IAR Convention and Expo.
The generalized “housing market” that people may be hearing about nationally doesn’t necessarily reflect what is happening in individual Illinois communities or even neighborhoods and REALTORS® need to share that information with both buyers and sellers so both sides are prepared to negotiate, Madison said.
Buyers need to know that it is not going to be a “fire sale” on all properties and sellers have be prepared for low offers, seller concessions and home sale contingencies, she said. Both sides need to know the realities of the “local” market and REALTORS® can do that by sharing information about supply and demand, market absorption rates and other statistics.
When presenting the offer, there are cases to be made for the buyer agent to be present (to answer questions and explain the buyer’s position) and reasons why they should not (the sellers can’t handle it or the buyers agent might alienate the seller.)
As for the rest of the IAR Convention and Expo, Madison urged those in the audience to use the time to mingle and network with other real estate professionals attending.
“It doesn’t make sense to hang out with the people from your office. Last time I checked, they weren’t giving you business,” she said.
by Ann Londrigan
Are you planning to take advantage of the two excellent continuing education options available at convention? Well here are some CE-taking tips from IAR’s Education Program Administrator Carrie Elliott. She’s been in charge of IAR CE sessions for over 14 years and knows what she’s talking about!
1. Bring ID
You’ll need a photo ID, your NRDS # and your state-issued real estate sales or broker license #. A business card with your photo does not count as a photo ID. A driver’s license or state issued ID card are your best bets. Carrie says if you don’t have your license # she’ll have to ask you for your social security number.
2. Don’t be late!
Double check the CE times and show up at least 10 minutes early so you can get a good seat. It’s first-come first-served and these sessions are popular! Doors will open 30 minutes before each session.
3. Turn off your phone.
Carrie says some REALTOR® boards that offer CE have been audited by the Illinois Department of Financial and Professional Regulation for violations of phone usage during CE class. The phone is to not to be used in the classroom…ever, says Carrie. Give the hotel phone number to your families (630-719-8000) and have the party ask for the IAR Registration desk in an emergecy, so the staff can notify you.
4. Don’t leave the room.
IDFPR requires 150 minutes of “seat time” for every CE class. This means you can’t come and go from the room unless in the case of an emergency. Plan ahead to get a drink of water before class and use the restrooms. If you leave the room you may not get CE credit after all your time and effort to get there, unless prior arrangements due to a medical condition have been made with IAR staff.
5. The test is “closed book” so no talking is allowed for obvious reasons.
6. Dress in layers.
Typically 400 to 500 people attend an IAR CE class at convention and the hotel won’t be able to satisfy everyone related to how hot or cold the room feels. If you dress in layers you can take something off or put something on for your own personal comfort level during the three-hour class.
7. Need a front row seat?
If you have visual or hearing problems, please alert staff so that you can be seated near the front of the room.
Check out the convention CE times and options.
