ILLINOIS 4-4-22

ILLINOIS EDITION

UNTANGLING THE BIDDING WAR:

A BUYER’S & SELLER’S PERSPECTIVES

SMALL YARD?

By the Numbers:

BIG STATEMENT:

HOW TO MAKE THE MOST OUT OF MICRO OUTDOOR SPACES

Understanding the True Value of Square Footage FEATURED AGENTS

KARINA CHAVEZ MARY ANN LADENDORF

COVER STORY

COLLEEN C. WILCOX

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Things the Best Leaders Never Say

As Spider-Man’s Uncle Ben said, “With great power, comes great responsibility.”

Being the boss is a great thing, but there’s a reason the ‘bad boss’ is common stereotype. Some people tend to use their power in destructive ways and that isn’t good for anyone. You might not even know you’re being a bad boss, it can be subtle sometimes.

There are common traits among great leaders, if you want to be a boss that operates with integrity and is respected by everyone

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you work with, make sure you don’t say any of the following things.

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I’M THE BOSS

Stating a fact that should be obvious is always a sign of weakness, and when you are the boss, strength of leadership is THE key component.

It also may indicates a stubbornness that is the death knell of a healthy work environment.

Your job as a leader is to bring everyone to your level of success, not to create a larger rift.

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I’LL DO IT MYSELF

Being a good leader is all about delegation. If you are hiring people who are professional and trustworthy, then this should be a no brainer. It is your job as a leader to get the right people for the job and then lead them in away that means success for everyone.

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THAT WASN’T MY FAULT

There’s an old saying “The Buck Stops Here.” and that is still true today. Good leaders take responsibility for what happens. They don’t blame others or make excuses. They take the hit for the team and then find the solution to make it better. Not only does it show they have integrity, but it also fosters a warm team environment that makes all players feel like their boss has their back.

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I’M SORRY TO ASK YOU TO DO THIS

Treating your employees with respect is mandatory, at the same time there is no reason to be sorry when you ask people to do their job. Leadership is strength and confidence. Expecting your employees to put in the same work ethic as you is your job.

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I ALREADY KNOW THAT

Having a ‘know-it-all’ attitude isn’t pleasant coming from anyone, but the last thing you need to do as a boss is shut down the people working for you. If you give them the impression that you’ve thought of everything, why should they bother giving potentially valuable contributions?

Make people feel good about all input, even if you don’t think it will work or have already thought of it. Open flow of communication and ideas is key to a successful team.

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THAT’S NOT THE WAY WE DO IT HERE

Well, why not? Being a successful leader means always being open to change and improvement.

No great leader is ever accepting of the status quo. It’s not only lazy, it’s uninspiring and usually leads to a work environment that is stagnate. Yes, keep things that work going, but nothing should ever be untouchable. Creative thinking should never be faced with constant roadblocks. A good option is to always ask for more information. Let your employee show you why they think their way might be better. This gets them energized and excited to approach you with more in the future.

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I’M NOT HERE TO MAKE FRIENDS

This is a workplace, not a reality show competition.

Good leaders know that building strong workplace relationships, with employees, vendors and peers, is the foundation of a successful business

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DON’T BRING ME BAD NEWS

No true leader avoids bad news. They confront everything head on because as we said above, they know that ultimately everything is their responsibility, and ignoring a potential problem will most likely end up being worse down the road. Good leaders want to know bad news right away, and the last thing you want is to foster a work environment where employees feel like they have to lie to you.

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YOU JUST DON’T GET IT.

You’re the boss. If someone who works under you is having trouble understanding something, it’s on you to make it clear to them. Getting frustrated makes them less likely to ask for help in the future.

Sharing your expertise and experience is not only generous, but a necessary tool in the success of your business.

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Small Yard? Big Statement: How to Make the Most Out of Micro Outdoor Spaces When house-hunters compile their lists of musthave home items, a dreamy backyard space is often near the top. After all, who doesn’t want an outdoor oasis of their very own? From summer barbecues to open space for your dog to frolic— everyone has their own aspirations when it comes to creating the perfect backyard paradise. But as homebuyers seek properties deeper within city limits, and Millennials opt for properties with 6

urban amenities and access, home-connected outdoor spaces are becoming a bit smaller in stature.

Of course, size isn’t everything when it comes to outdoor space. Even balconies, rear patios, and ultra-tiny yards can provide homebuyers with the outdoor reprieve they crave—even on a smaller scale. For a few ideas that can help you envision all the possibilities of a micro outdoor space, read on for inspiration.

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Think vertically.

When space is at a premium, think up instead of out. In other words, make the most of small spaces by capitalizing on your backyard, balcony, or patio’s overhead height. Mood-setting string lights, hanging pocket or wall gardens, floating shelves, and modern overhead hangings can create a sense of privacy and luxury without cluttering the square footage on the ground.

Soothing sounds set the mood.

Upgrade the look of structural components.

Not in love with your patio pavers? Don’t have the sweetest view off your balcony? Whatever your small backyard living space gripe may be, there’s always a solution if you go back to the basics. Consider the structural components of your outdoor space that you aren’t in love with and there’s likely an affordable, eye-pleasing solution. For instance, plenty of home goods Top Agent Magazine

retailers make a variety of punchy or luxe outdoor rugs that can disguise stained or lackluster outdoor flooring. Power-washing is another great solution for old grime and dirt that’s an eyesore. Don’t have a great view? Planting ivy on bare walls, installing adjustable mood lighting, or hanging planters can create a more inviting ambiance.

While there may not be room for a swimming pool or pond in a micro yard or balcony, you can still bring the calming presence of water to your outdoor oasis. Fountains run the gamut in sizing and price, making this amenity an easy acquisition. What’s more, a running fountain not only adds a soothing sound to your space, but it also helps drown out noise from the street or the neighbors—making your space entirely your own and stress-free.

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Don’t compromise on your culinary dreams.

If you love to entertain in outdoor spaces or relish the chance to man the grill—small outdoor spaces don’t have to trip you up. Grill options (both propane and charcoal) come in a range of sizes, many of which can be outfitted securely to balcony posts or be tucked away and out of sight when out of use. Consider nesting tables or those with a removable leaf to adjust your seating and dining options depending on company.

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Another trick? A small, oscillating fan can keep air flow moving in a small space during grill season—and can be easily affixed to walls or posts, as well.

Don’t let yourself or clients be discouraged by spaces with more limited square footage in outdoor areas. Furniture and design trends have already begun shifting toward providing better small-space options, and at the end of the day, a backyard space is all about providing an area for relaxation. With a few well-placed, strategic choices, you can still have it all.

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COLLEEN C. WILCOX

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A skilled negotiator, Top Agent Colleen C. Wilcox with COMPASS serves buyers and sellers throughout the Western suburbs of Chicago– with a primary focus on Hinsdale, Burr Ridge, and Oak Brook.

Colleen C. Wilcox, a real estate professional at COMPASS, has been familiar with the industry since she was a little girl. “My mother was a REALTOR® and my father was a farmer who sold land and ran a commodity business.

Real estate is in my blood.” A skilled negotiator, Colleen has acquired a reputation as a true client advocate who takes the time to listen to their needs and deliver exceptional results.

Licensed for 17 years, Colleen serves buyers and sellers throughout the Western suburbs of Chicago–with a primary focus on Hinsdale, Burr Ridge, and Oak Brook—and has a high 90% referral rate. She credits her focus on lasting client relationships as an 10Copyright Top Agent Magazine

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important factor in her success. “My priority is on the relationship with my client, and not on the transaction. In fact, many of my clients turn into friends.” She continues to stay in touch with clients long after the transaction is over. “I keep in touch with Top Agent Magazine

them in person and online, and I try to send them specific market insights and data that I know may be of interest.”

Colleen is much more than an agent to those she works with—she is an all-around 11 Copyright Top Agent Magazine

resource. “I work with many people who come here from out of town and don’t know the area.

When someone moves here, I make sure that they get connected with the community and I try to introduce them to people who may be helpful.” She is able to facilitate these relationships thanks to Copyright Top Agent Magazine 12

her own deep-rooted community ties. “I’m very involved in the local community. I’m the recent past President of the local Elementary School Foundation and a past trustee of the Hinsdale Historical Society. I always sit down with my clients and try to figure out Top Agent Magazine

“I work with many people who come here from out of town and don’t know the area. When someone moves here, I make sure that they get connected with the community and I try to introduce them to people who may be helpful.” who they want to be connected with. And people who are my past clients call me on a regular basis for referrals because they know that I have a long list of excellent professionals I can recommend.”

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Having high-quality marketing is key for a real estate agent who completes an average of 20 to 25 transactions a year, and $15,000,000 to $20,000,000 million in sales volume per year—with an average Copyright Top Agent Magazine 13

transaction being a million dollars. “I have a multidimensional marketing strategy. I use the best photographer and videographer in our area, and I have someone who is solely focused on our social media presence. I also have an extensive past and current client base that I reach out to.”

Outside of work Colleen is an avid reader and belongs to book clubs. She also loves

spending time with her 9-month-old grandson and likes to get her sweat on with Pilates workouts.

Going forward she is ready to continue providing her clients a high level of service and is thrilled to be aligned with COMPASS for future growth. “I like to say that I’m hightouch and COMPASS is high-tech, and that combination is dynamite.”

To learn more about Colleen C. Wilcox please email colleen.wilcox@compass.com, visit colleencwilcox.com, or call 630–291–9289 www.

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By the Numbers:

Understanding the True Value of Square Footage Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure.

True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of Top Agent Magazine

a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.

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1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus,

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original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.

2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage: n

Called “below grade spaces,” basements and sunrooms beyond a home’s typical

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living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings. n

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Did you know the space inside closets and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.

When recording square footage, ANSI actually suggests performing measurements from a property’s exterior—though this method does not account for the

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thickness of exterior walls, which could skew square footage numbers. n

Just like below grade spaces, a garage, a pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.

3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures

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when it comes to true square footage? If you want to take on the endeavor yourself, here are a few helpful steps to take. n

First, you’ll need a few things to get started, including a tape measure that can measure at least 100 ft., graph paper, and a pencil.

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Next, choose a room to start measuring wall-by-wall. Measure Wall 1, then proceed to assign each square on the gridded paper a corresponding measurement, rounding to the nearest tenth of a foot for the sake of clarity.

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From there, draw out the wall you measured and measure the remaining walls in the

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room. Once you’ve completed the room’s measurements, multiply the room’s length and width to determine its square footage. n

As you go measure throughout the home, using your own system to scale, you will construct a failsafe floorplan.

Mastering your craft is everything, and the real estate industry is no different. Every now and again, it’s worthwhile to update your well of information, take matters into your own hands, and continue to innovate with the industry. While square footage may not seem like the juiciest starting off point for such a venture, never forget: mastery of technical knowledge is a sure sign of expertise.

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KARINA CHAVEZ Top Agent Karina Chavez is a licensed Realtor®, certified foreclosure and short sale expert as well as a member of the NSBAR and NAHREP in Chicago. In 2019 and 2020 she was recognized as part of the top 100 Latino agents in the Midwest; and in 2021 was added to the top 250 Latino agents nationwide.

Karina originally arrived in the US in 1997 and discovered her love for real estate while shopping for her own home shortly after getting married. Prior to being a full-time agent, Karina was a restaurant manager and did real estate part time. Realizing that, after her first year in real estate, she made more part time than she did full time in the food industry; she decided to pursue real estate full steam ahead.

In 2004 she started her own company called K&P Realty Inc., currently located in Schaumburg,IL. During the market downturn of 2007 she made the decision to close K&P and join RE/MAX. While at RE/ MAX she refined her skills and excelled while joining the executive club of top producers in 2013 and 2014.

She later achieved the distinction of joining the 100% club in RE/MAX in 2015 and 2016. In 2017, after much success, she decided to reopen K&P Realty with her husband and showing agent Pedro Salinas.

After twenty-one years in the real estate industry, Karina now generates 100% of her listings from business referrals and repeat clients. She treats her clients like family and loves to help and educate them on the buying and selling process. “It’s an amazing feeling when you’ve sold a client a property fifteen or sixteen years ago and now you’re serving their kids when they get married...” Karina works predominantly with first time home buyers in the Hispanic community; helping them achieve their American dream. She’s completed

63 transactions in 2021 for an impressive $13.5M in sales.

Real estate is Karina’s passion and she loves to see the look of satisfaction on her clients faces. “They [clients] really think that having a house in the USA is impossible so helping them to achieve their dreams is amazing.” Karina currently markets her listings on social media; however, preferring a more old school style, she finds open houses, realtor referrals and engaging in her community to be a top selling point.

Now K&P employs eight other independent agents in the Northern Suburbs of Illinois priding themselves on the quality and knowledgeable service they provide. K&P’s mission is to guide all clients through the real estate process with their agents by their side as if they were family.

Their motto is “Making the impossible possible” and their #1 goal is to ensure the real estate process of selling, buying or renting your home is seamless and enjoyable.

In her free time, Karina likes to organize and participate in seminars for first time home buyers in the Hispanic community. There she explains the process of buying and selling while also educating her community on the process of building wealth. “I know people that have been renting for twenty or thirty years because they are afraid of buying or don’t know how.” She’s recently taken to spending more time at home with her husband and two children and exercising has been a great reprieve and joy for her. She is also active in her local church where she volunteers for events and raffles.

Karina’s present goals for 2022 are to grow her agency from eight independent agents to twenty while also continuing to be one of the top 250 Latino agents. More than anything, she’s excited at the prospect of achieving 100 transactions by the end of the year.

To learn more about Karina Chavez, email Karina@kprealtyinc.com, visit kprealtyinc.com/agents/karina-chavez or call (847) 293-1705 https://

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Untangling the Bidding War: A Buyer’s & Seller’s Perspectives In a competitive marketplace, bidding wars become the norm. While this may put sellers in an excellent position to recoup on their investment, it can push buyers beyond their budgets and test their temperaments in the process. As an agent, how do you navigate both sides of the coin? After all, you want to net the best results for your client—regardless of which side of the closing table they’re on. To fortify your approach to a heated bidding war, here are a few ideas and insights to better clue you in on the perspectives of buyers and sellers alike.

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Buyer’s Perspective: Emotions Running High?

Channel it.

When the market is booming, buyers feel the pressure—especially when affordable inventory is limited. This can create stress, feelings of hopelessness, and impulsivity. As an agent, how do you channel this emotional energy into something positive? Consider asking buyers to put those anxieties and high hopes onto paper. Have buyers outline

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who they are, why they’re inspired to buy a home at this juncture in their lives, and how they see their lives unfolding once they become a homeowner (or repeat homeowner). Think of it as a letter of intent.

Buyers benefit from taking abstract fears and dreams and articulating them on paper. Likewise, this document can serve as a valuable tool during a bidding war. Letters like these can help sellers with multiple offers make a personal, emotional connection with a particular buyer.

Sellers Perspective: Manage expectations.

When multiple offers are rolling in on a property, it’s easy for sellers to get carried away. Numbers are flying, expectations are heightened, and sellers may become hypnotized by higher and higher offers and ideal outcomes. While it’s good to celebrate prime market positioning, it’s also important to maintain an even keel so that your seller’s mind is clear and they’re thinking rationally through their options.

Sometimes the highest offer isn’t necessarily the sure thing. Manage your clients’ expectations by leading by example, offering a balanced perspective, and talking them through all potential outcomes so that they don’t only hone in on the best-case scenario.

During a bidding war, tensions are running high for seller’s too, who will soon begin their next chapter in another home. Keep a cool head and remind your client to see the big picture, recognize that it’s possible for some offers to fall through, and to sit tight until the closing table has been successfully reached.

Buyer’s Perspective: How do you authentically and convincingly convey your interest?

When ten or so offers are in the mix, it can be hard to differentiate your buyer from the next. While numbers will obviously do a lot of the talking, you’d be surprised how much of a difference a 22

personal touch can make. Some popular approaches to standing out include personal letters—as mentioned above—tailored to the property. Was the property in question a family home for years? You might have clients detail their dreams of raising a family inside those walls, rather than tear the property down and rebuild something to boost the lot’s value. Including a family photo is also a good tact for personalizing letters in a bidding war. Likewise, little gifts included with your offer can speak volumes about your personality and due diligence as an agent. It may seem a little cheesy, but when sellers are looking at ten near-identical offers, those personal touches can really paint a compelling, personalized picture.

Seller’s Perspective: How powerful is cash?

Data shows that cash offers—typical of investor clientele—double the chances of having an offer accepted. This goes hand in hand with waiving a financing contingency, which also helped boost the probability of an accepted offer, according to research. Cash is king, however, since offers that aren’t completely reliant on comprehensive financing seem to minimize risk for sellers, who are already eager to see a deal go through. Cash deals also tend to go through quickly, freeing sellers up to pursue their next property and move on to new horizons. While not every buyer has the ability to operate in cash, it’s a worthwhile consideration for those in ultra-competitive markets and with liquid capital.

While the bidding process can be stressful for agents and clients alike, it’s important to remember that it’s a time of opportunity, too. If you want to make the most of it as a seller, data shows that a personal touch can endear buyers to their seller counterparts. For sellers navigating a competitive process, it’s important to keep a balanced perspective. For agents, here’s the bottom line: get creative, be resourceful, and use all the tools in your arsenal to achieve the best result for the clients you serve.

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MARY ANN LADENDORF Mary Ann Ladendorf is a seasoned broker for RE/MAX Traders Unlimited, based in Pekin, Illinois. After thirtyeight years, she continues to meet her personal goal of growing her business of connecting buyers and sellers with their ideal homes. Referring to herself as a trailing spouse, she has assisted in opening a new agency with young and ambitious Baylee Gambetti, her business partner. Together, they triumph as a team and have found massive success together. Her team is comprised of a licensed part-time assistant, a full-time unlicensed assistant, and three realtors, herself included. Ethical and trustworthy procedures are the backbone of her team’s philosophy.

Ladendorf and Gambetti are up against direct competition upon opening the new agency; however, thus far, it has been an incredibly successful endeavor.

Today, they serve the Pekin area, of roughly 34,000 people. Most of their business is repeat and referral-based with almost zero personal promotion. They sold over $27,000,000 in volume this last year, with the average home selling for $119,579. Providing transparency and being 100% committed to their clients are a few strategies that set them apart from their competitors. “A twenty-thousand dollar buyer has the same needs as a million-dollar buyer,” Mary Ann shares. With high standards and the clients’ best interest, her business stays structured.

Mary Ann stays in touch with the general public daily with her involvement in her church, the city, and the Board of Realtors. She is also incredibly conscientious of being present for her clients’ special occasions and life milestones. In addition, Mary Ann shares the “gift of giving” regardless of if her clients purchased a home or not, offering hundreds of small gifts or handwritten cards throughout the Top Agent Magazine

year for all clients, including prospects. Mary Ann’s mindset is focused on the importance of referrals and presenting excellent customer service to uphold a well-respected reputation. With Mary Ann, no one gets left behind. Her genuine heart and love for the community are what she attributes much to her success.

Mary Ann uses print, social media, and the internet as their primary marketing source. This method works best for a small town like Pekin for listing retention and satisfied buyers. However, Mary Ann most loves connecting people with their dream. “We can really change people’s lives when we can connect clients with the right home,” she shares. When Mary Ann isn’t working, she adores spending time with her six grandchildren and attending all their athletic events.

She also enjoys shopping and cooking. Her plans for the future are to continue selling real estate as long as she can continue to grow her numbers. Lastly, Mary Ann shares her admirable insight: “Life is about giving back. It is the law of Karma.”

To learn more about Mary Ann, email maryannladendorf@gmail.com or call 309-241-5610 Copyright Top Agent Magazine 23

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