In an effort to get the most substantive responses from our interviewees, we’ve honed the five questions of our ongoing “five easy pieces” feature. The first participant in this revised Q&A is Gale Goldstick of Coldwell Banker, who emphasizes an understanding of localized real estate information.
What are buyers asking?
Because of the inflated inventory and short sales buyers are always asking about price and positioning, fearful of overpaying.
How has your job changed in the past year?
This year, each deal is very different, paying attention to the details and being able to help. On both ends, buyers and sellers, expectations need to be managed very differently than a year ago. There are things happening everyday, a lot of learning and teaching going on. So, no matter what they hear on TV or read in papers, or discussions with family and friends, a Realtor has become more critical than before because we act as filters in the industry.
How do you convince sellers to adjust their expectations?
Providing them data, really localized data is very critical. What’s happening in Wrigleyville is different than what’s happening in the Ukrainian Village or the South Loop.
Outside of price reductions, what’s the most interesting strategy you’ve seen for generating interest in a property?
As far as new construction, what we did at Cornelia Court is the opposite of what a lot of others are doing. Instead of scaling back features, we finished them up, to make units more attractive. It’s important that the buyer fells they’re getting a good value.
How do you stay on top of market trends?
A variety of ways. There’s a lot of professional metrics that I consult, as well as experts in the field I rely on. Also, within Coldwell Banker, we have a weekly newsletter where we’re constantly updated on trends.