In our June episode of Monday Market Minute, Carrie McCormick from @Properties talks about downtown Chicago and why she believes it’s a perfect time to by a property there. She also discusses the suburban market and why she recommends using the summer months to make offers on while many people are traveling. D.J. and Carrie discuss the importance of building relationships with agents outside of you local area for referral opportunities.
If you’d prefer to watch this interview, click here to view on YouTube!
Carrie can be reached at carrie@atproperties.com or by phone at 312.961.4612.
Please follow Carrie on Instagram by clicking here.
Transcript
D.J. Paris 0:00
This episode of Keeping it real is brought to you by prac tina.com Are you tired of not receiving enough leads from social media prac Tina will help practitioners easy to use low cost systems helps real estate agents outperform their local competition, connect with more homebuyers and become the face of real estate in their area by simplifying social media marketing. prac Tina automatically informs your audience regarding new properties, open houses, and price changes on any and all of your listings. You can also reach specific new clients based on their location and interests which will help your ads be seen by the right people on Google, Facebook and Instagram. And best of all prac Tina provides you with your own dedicated marketing specialist that will work with you one on one keeping it real listeners will receive a $50 credit by using the coupon code real Learn more today at practice tina.com That’s PR AC T i n a.com And now on to our show
right welcome to keeping it real the largest podcast for real estate agents and buy real estate agents. My name is DJ Paris. I am your guide and host through the show today. On the show we have our monthly series The Monday market minute with Carrie McCormick from the Carrie McCormick Real Estate Group with at properties here in Chicago. Now Carrie is a top 1% producer in Chicago with over 20 years of experience helping buyers sellers and investors with their real estate needs. In fact, in the previous 12 months out of 44,000 real estate agents here in Chicago Carrie is currently ranked number 14 in production and 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. Now please visit carry at our website which is carried McCormick r e.com. Again carry McCormick r e.com. And also follow her on Instagram she has one of the very best Instagram accounts for realtors we’ve ever seen. So you can find her at Instagram at Carey McCormick real estate again, Carrie McCormick real estate Carrie, welcome once again to the show.
Carrie McCormick 2:32
Thank you as always, I appreciate it. As you can see, for those who are watching, I’m coming live from my car.
D.J. Paris 2:40
Well, we know how busy you are. So you spend a lot of time in your car going around. So what’s going on right now with your business in the market?
Carrie McCormick 2:50
Yeah, so it’s June here in Chicago. So the sun is shining, the weather’s great people are out and about. There’s this new life happening in the downtown area, which we love to see because the numbers in the downtown market have been down, and then they move to flat. So we’re still in the flat zone downtown. So I really do think for those who have a desire to live in the Streeterville neighborhood, the Gold Coast neighborhood River North, really now is a great time to buy. Because again, if you go down there, you’ll see and feel the energy coming back to those areas. And again, Chicago is such a resilient city. And it’ll come back so you now’s the time to get a good deal on the downtown market. So again, I’d highly recommend anyone who wants to live down there or an investment now’s your your chance to buy something at a good value. Suburban market here still remain strong. As I mentioned, we’re here, you know, approaching parents the first day of summer, is it summers? Yeah, it is. You know, the buying market is still tough out there. I’m working with a couple buyers still that’s trying to find the perfect home. But what I would say is, you know, June, July, August, these are big months for graduations, for weddings, for traveling, you know, as people start to go back and live their lives. If you’re still a buyer in this market, I think you’re going to have some luck this summer, you’re going to have less competition, right? Because your competitions at a wedding on a Saturday. So you know get in there, take a look at a home, get your offer in so you can have a little bit of less competition out there. So I think we’re going to start seeing some, you know, some lucky buyers this summer. So that’s my tip to you guys. You know all markets are doing well here in Chicago. So again, if you are a seller, now’s your time, don’t don’t hesitate because this is where the top of the market so I would get your house on the market right away.
D.J. Paris 4:53
I was telling Carrie just before we started that and I just reading an Inman article which was very surprising to me. I’m also, of course, in the Chicago market, and all I hear all day from our Realtors at our company, and I’m sure Carrie, you hear the same from the realtors at your company. And of course, your own personal experience is that inventory of courses is the big challenge. And it has been for quite some time with rates being so low, and people being able to afford more and wanting to move because maybe they’re working at home, or they just want to, you know, find a different location. And now they can. And so inventory is been scarce. And of course, any Facebook group with realtors, court, you know, collaborate. That’s really what they talk about. Mostly, it seems. But the good news for those of those of us who are listening or watching who are in Chicago is actually we have twice the amount of inventory, believe it or not than most major markets, which is very surprising, because we typically know our own market, and it feels like there isn’t much here. But if you are in the Chicago area, you should actually feel a little lucky as opposed to other markets where there’s very little. So even though it seems like we don’t have much going on inventory wise, I guess we have more than than the national average. So we’re I guess we should be a little bit grateful for that. But I wanted to just really quickly mentioned my marketing minute and then carry love to get your thoughts on this, because we were talking about this beforehand, because it really goes into what what Carrie was just saying, which is, you know, if you’re looking for an opportunity, and you don’t have, you know, maybe you are struggling, you have buyers and you don’t have inventory, and then you have all these people that you know that own homes, but they aren’t necessarily looking to move or buy, this is a great time to have a conversation with them and in run some comps and say, hey, you know, maybe you don’t even know what they bought their home at. Or you should be able to see that on the MLS. But you know whether you know that or not, odds are their home is appreciated. And so now would probably be a good idea just to call everybody you know, who owns a home and say, hey, you know, have you thought about selling? Here’s what I think we might be in the neighborhood of as far as price wise. And they might say, well, that’s great. But then could I even afford to buy something else? Number one, because prices have increased so dramatically. And also maybe there isn’t much to choose from even though I just went on to say we have more inventory than most, it still feels like we don’t have much inventory. So a good idea would be to at least say, hey, you know, what some of my clients are doing is selling, you know, banking, that profit, and then maybe moving into an apartment for a few years here in the Chicagoland area. We have, gosh, so many really wonderful apartment buildings in all different areas of Chicago and the suburbs. And you know, it’s definitely an idea, and then maybe they rent for a year or two, until the market settles down prices come down a little bit. It’s that old adage with the stock market, you know, you you buy low and sell high. So just an idea now, will people actually do that? I don’t know, maybe maybe not. But I think from my perspective of wow, that’s an interesting idea. I think that’s something that most Realtors probably aren’t saying to their, their homeowners right now. And it’s even if whether they do it or not, I don’t think is really the issue. It’s just you’re bringing value, you’re giving them an idea, and it’ll at least start the conversation. So I don’t know, that was my little thought I was curious what you might have thought of what you might think of that.
Carrie McCormick 8:12
No, I think that’s great. And you’re right, it’s, we we do need. I know, again, you said there’s more inventory than others, but we do need some more inventory in this market. So a rental is a great option for people. And then I’ve talked to some of my sellers who let’s just say in a few years, they were gonna move to Florida, or they’re gonna move to Tennessee or Austin or wherever they’re going, you know, what I’ve done is I said, you know, why don’t you just explore, you know, a little bit in, you know, Austin, Texas, I know, you’ve always wanted to move there. So I’ll connect you with a realtor that I know there. You know, maybe there’s something there for you now, or you can sell, you know, your Chicago home at the height again, even though you might be buying at the height. But it’s a it’s a win win for both of you. So, you know, that’s also my tip to some of the brokers here in Chicago, who also, you know, solely have a practice here is start networking with other brokers outside of Chicago, because as people, you know, have this demand for space and change right now in the world. Not only are they staying here, I mean, they’re, they’re going anywhere, you know, so you want to be able to give full service to your clients. Again, whether it’s here in Chicago or refer it out to someone in you know, for example, Austin, Texas, like I just said, I think that’s going to become very important to help keep continuing growing your business. Yeah,
D.J. Paris 9:34
it makes sense. My parents spent the last winter in Clearwater in down in Florida and to sort of see if they would like it. And then now they’re at the stage where they are renting again this year. They have two down there things are so competitive, even for rentals, you have to book it well a year in advance. You have to pay the entire thing up front, there’s no you know, monthly payment, and so they’re going to be there again this year and then after this year, they’re going to buy a place probably They’re assuming they continue to like it. So as a realtor here, which of course, I’m not really a practicing realtor, but I do have a license, I will find a realtor in the Clearwater area, refer it to whoever that person may be. And then of course, earn that referral commission. So it’s a really good opportunity to talk to everyone that you know, that travels south for the winter, or just is looking to maybe get a second home somewhere else, or maybe retire somewhere. Florida, of course, is very attractive because of the tax implications. And people a lot of times move there for weather and all sorts of reasons. But you should really be talking to your clients and asking them, what are their goals, you know, like, hey, just because they’re not moving their primary residence necessarily, you should probably still be talking to them. So I think that’s great, because people now can, a lot of us can work from home. I’ve only heard of some companies now starting to say you have to come back to the office, it seems to be right now, still, I know. Zillow comes on our show a lot. And I think they’ve said, for the time being, you can still work from home. They’re a massive, massive company. So I know, most companies are still sort of allowing you to do that. So people are looking to explore other areas. So it’s a great time to network with other realtors. And also people might be moving into Chicago, too. And you want to build those connections. So I think that’s an awesome idea.
Carrie McCormick 11:15
Yeah, and I’ve gotten a lot of things. So back and forth, you know, between brokers. So I think that’s important. The one last comment I wanted to make is I do get this question a lot is, you know, is there a bubble in the market? And, you know, no one can predict. I’ve been a broker for 20 years, and it was part of the Oh, wait. And just to remind everyone, it’s a very different market than Oh, wait. So I don’t think that there’s a bubble that’s going to, to occur here. I mean, in Oh, eight it, I mean, literally popped in overnight, right. It just it completely deflated. And while popped, you know, so I guess deflated is a better word to say, I think this market will just naturally slow down. And there’s going to be, you know, no big issue. It’ll just be, you know, just a gradual slowdown, because we’re all going 150 miles an hour right now. So I was saying that the market, you know, in the last two weeks seemed like it slowed down to 110 miles an hour. So we’re still going fast. But there’s just a little bit of a slowdown. But we’ll see what happens. Yeah. And then
D.J. Paris 12:21
I know, you also had a thought about client appreciation. We were Yes. i My nephew just had his fourth birthday this last week. And so I was buying gifts for his birthday. And I asked my sister, what should I get him and she said, Please don’t give them anything. But if you’re gonna get him something, just get him, you know, she had a couple ideas very sort of, you know, just little toys and things. And they have a pool. And I said, Well, he spends a lot of time in the pool, and he’s taking swimming lessons and all of that. And so, of course, not everyone who listens, not every one of your clients is going to have a pool, but a lot of people it is summertime are taking their kids chunk pools, you know, community pools, country clubs, whatever, friends pools, and, you know, might be fun, like, I ended up buying him three different pool toys, I think the total amount per toy was like $7. And so if you do have clients who have kids who are going and swimming somewhere this summer wouldn’t be the worst idea to get them all, you know, a little a little five to $10 pool toy gift, you know, depending on their ages, and, and sending them off and saying, Hey, hopefully you and your, your kids have fun in the sun or some sort of fun, summertime, you know, gift doesn’t have to be expensive, but you know, he loved these sort of cheap pool toys that we got them. And, you know, they they really went a long way. And I was thinking what a great opportunity to not that you have to, you know, buy things for people necessarily to win their business, but it certainly was would be nice, and just a great way to sort of keep in front of your your clients as opposed to just doing you know, a refrigerator magnet or which which are fine, too. But I just thought you know, that’s a real functional gift right now, this time of the year.
Carrie McCormick 14:07
Yeah, I think that’s a great idea. And, you know, again, as we’re all going super fast, I thought about that other day, I’m like, Oh my gosh, it’s already June. You know, it’s like I haven’t talked to some of my past clients who, you know, helped my business and I appreciate each and every one of them and someone had had said this during a speaking event. I can’t remember who it was, but he had said, you know, when you’re you’re married or you have a spouse or loved one, you know, of course you love them. But you know, you wake up in the morning you leave for the day and you go about your business, you come home, you’re mad about something, you go to bed you wake up the next day and you do it again and you know without communicating or saying anything to the other person. Again, even though during the day you think about them or whatever it is, but you’ve got to communicate and I just thought, you know just made me think of you know, I think about my clients all the time, but you know, it’s And months since I even said hello. So just to remind us all to slow down, appreciate those people around us, our clients, of course, fellow brokers, whoever it is, just take a moment and say thank you. So thank you, DJ.
D.J. Paris 15:15
Well, thank you, Carrie. Yeah, it’s a really great reminder. And we don’t You don’t have to make 100 calls a day, even if you just divided up your entire list and say, I’m just going to call three to five people a day. And just ask them how their summers going, see if there’s anything they need, check in with them. And say thank you for any business that they may have given me or referred out. That’s, that’s a huge, easy thing that will always be positive phone calls, right? They’ll almost always be they’ll make you feel better when you’re done. And they’ll make the other person feel better as well. So great upgrade idea. And yes, I had heard, not that I’m a particularly religious person, but I had heard somebody say many years ago, maybe the best best prayer of all is just thank you, you know, which I always thought was, was a really smart thing to be said. So saying thank you is is not probably not said enough, in our society here. So say thank you to everyone that helps you. It’s a great, great way to make them feel better. And also yourself. Well, great. And Carrie, we should also mention for all of our listeners who are here in the local Chicago market, that you are looking for some help for your business.
Carrie McCormick 16:23
Oh, yes, thank you for reminding me. So as my business continues to grow, it’s important for me to support, you know, my clients in the transaction. So I am looking for someone to join my team as a transaction manager. You know, it’s really important that the foundation of our business is strong and solid. So if anyone is out there listening that knows of someone is the perfect candidate, I’d love to talk to you, again, looking for a transaction manager for my business full time.
D.J. Paris 16:54
And would you like them to have a license? Or is it preferred or required?
Carrie McCormick 17:00
Either one, you know, it’s really just finding the right fit. So
D.J. Paris 17:03
it’s, you know, this, I think, particularly two is great for agents that are really looking to get a sense of what is it like to be on a really successful team? And how can I fit into that and you know, you’ll absorb some of you know, what Kerry does to build her business, in addition to helping her grow her business, great opportunity to work with somebody who is already built this 20 year career and has a great reputation in the industry. So if you’re interested in working with Carrie as a transaction coordinator, what’s the best way they should reach out to you?
Carrie McCormick 17:35
Everyone just call me 312-961-4612 My email is Carrie ca RR ie at@properties.com. I’m always available also for any questions that anyone has. I love to talk to everybody.
D.J. Paris 17:51
Awesome. And please also visit her website which also has links to all of her social, different accounts, which is Carrie McCormack r e.com. Particularly follow her on Facebook, sorry, Instagram, which is at Carey McCormick real estate. You can find all of that at Carey McCormick our e.com but Instagram Carrie McCormick real estate Well, Carrie, this is we’re almost Yeah, we are officially in summer yesterday I think was the longest day of the year. So people are out and about. And this is a great time to reconnect with your clients wishing them a happy summer. And I hope everyone is staying out of the extreme heat that I know here in Chicago we’ve been having, but hope you’re out and about and doing fun things and continuing to grow your business. We will carry we will see you as always a next month and if anyone has questions for Kerry just reach out to either her or us directly here at the podcast and you can find us right at our website which is keeping it real pod.com You can go back and listen to all of the carry episodes we have them categorized right on our websites. You don’t have to scroll through and look for all the Kerry episodes. We’ve got them organized right on the homepage there which is keeping it real pod.com And also please follow us on Facebook which you can find us@facebook.com forward slash keeping it real pod Kerry thank you once again and we will see every we’ll see you and all the listeners again next month.
Carrie McCormick 19:14
Sounds good. Thank you. Thank you
Subscribe: Apple Podcasts | Spotify
