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Polishing Your Negotiating Skills

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October 2014


12 Easy Ways to Improve Your Negotiation Skills

 
In its online Negotiation Tool Kit, NAR gives these simple tips that agents can use to master the art of negotiating:
 
1. Learn everything you can about the situation, the issues and the participants.
 
2. Understand all the participants’ needs and interests.
 
3. Set reasonable goals for what you hope to achieve during the negotiation and rank them by priority.
 
4. Work within a range that includes minimums, targets and maximums.
 
5. Anticipate the other parties’ comments and prepare your responses.
 
6. Remain calm, pleasant and unflappable.
 
7. Build trust by clearly stating what your client wants and respecting what the other parties want.
 
8. Create an atmosphere of joint problem solving that focuses on the benefits to all parties.
 
9. Remain flexible and open to a range of options.
 
10.When other people speak, listen attentively and hear them out fully.
 
11. Use sympathetic comments, gestures and facial expressions to smooth over difficult situations.
 
12. Always underpromise and overdeliver.

What Does it Take to Succeed in Real Estate?

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October 2014


 

Set the Stage for Success with Your Next Listing Presentation

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October 2014
 
 

Six Tips for Your Next
Listing Presentation

1. Find out how your client wants to interact with you and then use that method. Maybe they prefer a phone call over an email or would like to see the presentation on paper as well as in a multimedia format. 
 
2. Know your market and your knowledge base. You may be licensed in Illinois, but your local market or niche is the one you know best. 
 
3. Be over-prepared going into the presentation. Consumers are savvy, have done their research and will be able to tell if you haven’t done yours. Don’t give them a reason to find another REALTOR® for the job.
 
4. Be able to talk about yourself and your company. Different companies have different business models. Be able to explain why you have affiliated with yours and what you can do for them.
 
5. Focus on the client to build a connection. Really listen to your client and talk to them about what they want and expect. It helps you build a connection and level of trust so that you can comfortably talk about the details such as pricing, etc.
 
6. Finally, be yourself. It will help you build a rapport with the sellers. 
 

Four More Tips Before You
Walk in the Door

In an IAR webinar, “The Listing Presentation that Works Every Time,” real estate trainer Greg Herder, of Hobbs/Herder Advertising, shared some strategies that you may not have thought of before:
 
1. When a client initially calls to make a listing appointment, don’t appear overeager as it can undermine your credibility.
 
2. Send a pre-listing packet or letter with information about you and your company.
 
3. When calling to confirm the listing appointment, don’t make the call yourself. If you don’t have an assistant, have another agent in your office call.
 
4. The presentation starts when you pull up in your car. Don’t sit inside shuffling papers and getting ready. Get out and walk in front of the house to show that you are taking in the neighborhood.
 

2015 Managing Broker License Renewal

Everything you need to know about the April 30 Managing Broker license renewal

 

Weekly 9-16-14

REALTORS® and Illinois' Medical Marijuana Law   

Illinois is now one of more than 20 states that has legalized marijuana for medical use. While Illinois communities wrestle with the complexities of the new state law, you can learn more about what it could mean for real estate brokers, leasing agents and others in the industry. In the latest issue of D.R.

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Weekly 9-23-14

Video: What's Ahead for the Illinois Housing Market   

Consumer confidence in the economy is building but tight housing inventories will likely continue in the coming months as conservative sellers stay on the sidelines, says Dr. Geoffrey Hewings in a new IAR video.

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Vote on Nov. 4

 

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The Illinois REALTORS® Political Action Committee (RPAC) provides both direct contributions to pro-REALTOR® candidates as well as grassroots “Opportunity Races” where we reach out specifically to REALTOR® members in support of candidates for office. Who gets RPAC support is determined by REALTORS® who vet the candidates for their pro-business, pro-private property rights, low tax, pro-growth position on issues that affect the business of real estate.

Professionalism/Dispute Resolution FAQ

Learn about IAR's dispute resolution programs

Illinois REALTORS® believe in doing business the right way. That's why we offer two programs to help resolve disputes that may arise from real estate transactions. Here's more information on the programs and what they can do for you. 

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The Code

REALTORS® take doing business the right way seriously. They operate under a strict Code of Ethics.

Find a REALTOR®

Not every person who sells real estate is a REALTOR®, a designation that requires aditional training and adherence to the Code of Ethics. IAR has more than 41,000 members. Find a REALTOR® here
 

State regulation

The Illinois Department of Financial and Professional Regulation Division of Real Estate oversees real estate licenses in Illinois.

Does someone have a real estate license? Check here with IDFPR's lookup tool.

The Real Estate Licensing Act, the rules for all real estate practitioners, is here

Other resources

Ethics Complaint Process for filed grievances. This process must be initiated through a local REALTOR® association. 

Legal Action Fund: The association maintains a fund to help fight legal battles of importance to its membership. 

 

Professionalism/Dispute Resolution

Have a dispute? IAR can help

Breakout Text: 

The Code

REALTORS® take seriously doing business the right way. They operate under a strict Code of Ethics

Find a REALTOR®

Not every person who sells real estate is a REALTOR®, a designation that requires aditional training and adherence to the Code of Ethics. IAR has more than 41,000 members. Find a REALTOR® here. 
 

State regulation

The Illinois Department of Financial and Professional Regulation Division of Real Estate oversees real estate licenses in Illinois.

Does someone have a real estate license? Check here with IDFPR's lookup tool.

The Real Estate Licensing Act, the rules for all real estate practitioners, is here

Other resources

Ethics Complaint Process for filed grievances. This process must be initiated through a local REALTOR® association. 

Legal Action Fund: The association maintains a fund to help fight legal battles of importance to its membership. 

 

 

IAR Ethics Citation Program Request

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ILLINOIS ASSOCIATION of REALTORS®
Ethics Citation Program Complaint
522 South Fifth St.
Springfield, Illinois 62701
(217) 529-2600
 
The Illinois Association of REALTORS® Ethics Citation Program is limited to specific violations of the REALTOR® Code of Ethics. Other ethics complaints which fall outside of the articles listed below should be handled through the regular complaint process. Please read the sections of the Code below and make sure your submission meets one of the criteria.  If you have questions, you may call the Citation hotline at (217) 529-6137.
 
 
Article 1
  • Accessing or using listed or managed property on terms or conditions other than those authorized by the owner or seller (SOP 1-16) $1,000
Article 3
  • Failure to disclose existence of dual or variable rate commissions (SOP 3-4). $500
  • Failure to disclose existence of accepted offers to any broker seeking cooperation (SOP 3-6). $250
  • Providing access to listed property on terms other than those established by the owner or the listing broker (SOP 3-9). $1,000
Article 4
  • Failure to provide written disclosure of REALTOR’S® interest in property being bought or sold. $500
Article 5
  • Providing professional service without disclosing interest in property $500
Article 6
  • Accepting any commission, rebate or profit on expenditures without client’s knowledge or consent. $500
Article 12
  • Failure to present a true picture in real estate communication, marketing and advertising. $250
  • Failure to disclose status as a real estate professional in advertising, marketing and other real estate communications. $250
  • Failure to disclose potential compensation or benefit received from a third party for services provided free to a client (SOP 12-2). $250
  • Advertising or offering to sell/lease property without authority of owner or owner’s authorized agent (SOP 12-4). $500
  • Failure to disclose name of real estate firm in advertising in a readily apparent manner (SOP 12-5). $250
  • Failure to disclose status of both owner/landlord and REALTOR® or licensee when advertising property in which Realtor® or licensee has ownership interest (SOP 12-6). $500
  • Falsely claiming to have “sold” property (SOP 12-7). $250
  • Failure to disclose on a website the firm’s name and state of licensure in a reasonable and readily apparent manner (SOP 12-9). $250
  • Failure to present a true picture in advertising and representations to the public including Internet content posted and the URLs and domain names used. (SOP 12-10). $250
  • Registration or use of deceptive URL or domain name (SOP 12-12). $500
  • Representing that the REALTOR® has a designation, certification or other credential that the Realtor® is not legitimately entitled to use (SOP 12-13). $500
Article 14
  • Failure to cooperate in any professional standards proceeding or investigation. $500
Article 16 
  • Use of terms of an offer to modify listing broker’s offer of compensation (SOP 16-16). $500
  • Placement of for sale/lease sign on property without permission of seller/ landlord (SOP 16-19). $250

 

Illinois Association of REALTORS®