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Seller When working with the seller your job as the listing agent is to help ensure the appraisal comes back as high as possible. To do this I recommend that you physically go to the appraisal with comps showing your value in hand. Chat with the appraiser. A good conversation can go a long way. Should the appraisal come back lower then the contract price there are a few things that can happen. The buyer can come up with the difference (you can negotiate an agreeable new price point OR your client can hold firm and say “we agreed to a price, we are sticking to it. If your client goes with the “we are sticking to it” method remember that the buyer does have the right to cancel if appraisal comes in low (unless their is an appraisal gap addendum “Appraisal Gap Addendums explained below.” The seller can agree to sell for the new appraised for price. You can talk to the lender and broker and ask for a new appraisal. Sometimes this works out, sometimes it does not. It is a gamble. One way to help protect the seller in this situation is an appraisal gap clause. This states that should the appraisal come in low, the buyer will make up the difference to a certain agreed to point. For example, you may have a contract for $100,000. If the appraisal comes back at $90,000 and you had the Appraisal Gap Clause in the contract which states the buyer will come up with the difference up to $15,000, the buyer would have to come with the $10,000 difference. However, if the appraisal came back at $80,000 the buyer would only need to come up to $95,000 as the clause states up to a $15,000 difference. Buyers When working with the buyer, typically an appraisal is scheduled through the listing agent. I generally ask to be looped in the process so I can be sure that the listing agent is going to show up. If not, I like to be there if possible so I can get a feel for the appraisal and offer any opinions I can. Should the appraisal come back low, the buyer has a few options. In most contracts (unless specifically mentioned otherwise) if an appraisal comes in low, the buyer has the right to cancel. You can try to renegotiate a price. Your client can say they are only willing to pay appraised value or only go to a certain point, and see if you can get a deal. In some situations it may seem odd, but if your client is very interested in a property or you are in a sellers market with multiple offer situations, you may consider these options. Your client can just pay the appraised value. You can ask the lender for a second appraisal because you don’t agree with the first. You can add an appraisal gap clause. This states that should the appraisal come in low, the buyer will make up the difference to a certain agreed to point. For example, you may have a contract for $100,000. If the appraisal comes back at $90,000 and you had the Appraisal Gap Clause in the contract which states the buyer will come up with the difference up to $15,000, the buyer would have to come with the $10,000 difference. However, if the appraisal came back at $80,000 the buyer would only need to come up to $95,000 as the clause states up to a $15,000 difference.

Looking for a copy of your 1099? As of 1/24/2023 we have sent your 2022 taxes to both your personal and business emails. Please search through your inbox, promotions, and spam folders in case you don’t see it. You’ll be looking for an email from sales@efilemyforms.com . ProTip – If you are using gmail, in the search bar, type “in:all sales@efilemyforms.com ” and it should pop up! Your 1099 is password protected. Please follow the instructions in the email to identify the password. One of the variables for the password is your home zip code. If the password doesn’t work, please try your previous residence’s zip code. If you can’t locate the 1099 email OR have located it, but aren’t able to open it (password failing), please complete the form and our team will reach out to resolve.

FOREWARN is a revolutionary application that allows agents to have instant due diligence on prospects. In seconds, with as little information as a phone number or name, you can verify a prospect’s identity, criminal records, bankruptcies, liens, judgments, address history and property records all in one place, leading to safer and more productive interactions.  This is not only critical for your personal safety and efficiency, but also a benefit to your listing homeowners, providing an added layer of protection for their homes and families through your vetting of prospective buyers. To sign up, please click on the applicable link below based on your association membership If with CAR https://chicagorealtor.com/membership/member-perks/forewarn/ If with MainStreet https://www.forewarn.com/forewarn-partners-with-mainstreet-organization-of-realtors/ If with NSBAR  https://www.nsbar.org/forewarn

If representing a landlord, you will need an exclusive listing agreement which can be found in Dotloop under MAINSTREET ORGANIZATION OF REALTORS INTERACTIVE FORMS.  IL – Commercial Property Exclusive Right to Sell / Lease Agreement (MOR). You are able to list the property on the MLS or sites like Loopnet for an additional fee.  If representing a tenant looking for a commercial spaces, properties can be viewed on sites like Loopnet.com or on the MLS.  Terms of the deal are negotiated between both the two parties via a LOI (Letter of Intent). We highly recommend that you use this LOI (Letter of Intent) attached below. For a commercial lease, please refer to the Dream Team List on the home page for recommendations for preferred attorneys to draft the lease once the both sides have agreed and the LOI (Letter of Intent) has been fully executed.  No disclosures are required for commercial deals. For additional information or support please contact Tim Littleton ( tim@kalerealty.com ) or Risa Weiss-Kallis ( risa@kalerealty.com ) Please see attached copy of the sample lease and LOI. Download the Letter of Intent:

An Exciting Announcement! Starting January 1 2024 (And each subsequent Jan 1st) Kale will be introducing a cap on transaction fees for sales!  Once you’ve paid $6,500 in sales transaction fees to the company, the remainder of the calendar year is free!  To be clear, we will no longer charge the $350 transaction fee on sales once you’ve contributed $6,500 in sales transaction fees to the company.  Your monthly fees and annual errors and omissions insurance will be charged as before.   To find where you are with your cap, simply log into brokersumo.com  – your password would have been emailed to you when we set up your account at the time you joined, but I can reset it for you very easily.  Once you’ve logged in, just go to Reports/Agent Commission Reports/Cap Plan Report.   We will also be introducing a minimum fee on listings.  If you have a low-end listing, we’ll still take out $350 or 10%, whichever is lower; however, if you have a listing that sells for $200,000 or higher, the transaction fee will automatically be $350. If you plan on giving a friend or family member a great deal on a listing, you can always add in the additional agreements and provisions on page 3 of the listing agreement that the commission will be x% + $450; that way the $350 transaction fee and the $100 flat fee are charged to the seller instead of to you.

Are you worried about missing important updates from Kale Realty in your email inbox?  To ensure that you receive our emails without any issues, it’s crucial to whitelist our email address. Whitelisting is a simple process that lets your email provider know that you want to receive emails from a specific sender, in this case, Kale Realty. Here’s a quick guide on how to whitelist Kale Realty’s email address: Visit Your Email Provider’s Website: Open your email provider’s website (e.g., Gmail, Outlook, Yahoo). Log In to Your Email Account: Enter your login credentials to access your email account. Access Your Whitelist or Safe Senders List: Navigate to the settings or options menu, where you can find a section related to email preferences, security, or filters. Look for an option called “Whitelist” or “Safe Senders List.” Add Kale Realty’s Email Address: In the Whitelist or Safe Senders List, there should be an option to add an email address. Enter “ info@kalerealty.com ” (Kale Realty’s official email address) and save your changes. Check Your Spam or Junk Folder: It’s a good practice to periodically check your spam or junk folder to ensure that Kale Realty’s emails are not mistakenly sent there. If you find any, mark them as “Not Spam” or move them to your inbox. By following these simple steps, you can make sure that you receive important emails from Kale Realty directly in your inbox so you won’t miss out on any valuable information or opportunities. For more detailed instructions on whitelisting emails, refer to this informative article:  Email Whitelist Guide . Don’t let important updates slip through the cracks; whitelist Kale Realty’s email address today to stay informed about the latest real estate offerings and news.

If you are entering a listing into the PLN you must: have the seller sign the listing exemption form. have the seller sign the PLN exemption form. upload disclosures and listing agreements to DotLoop. SUBMIT FOR REVIEW the three documents. Watch this recording .

WHAT SHOULD YOU DO WHEN YOU RECEIVE A CALL FROM AN UNKNOWN PROSPECT? CHECK FOREWARN! When you receive an unknown call or text, save time by checking their identity and information through FOREWARN. FOREWARN gives you all the information you need to know before a new client meeting and puts your safety first. As a REALTOR®, you can download the FOREWARN app for free with your membership. FOREWARN Proactive Agent Safety & Intelligence - Safer Showings. Smarter Engagements. SETTING UP YOUR NEW FOREWARN ACCOUNT IS QUICK AND EASY! Click here  and enter your email address when prompted to do so (be sure to use the same email address that this email was sent to, as it will serve as your FOREWARN ‘Username’). You will receive an activation email from FOREWARN. Open it and click the link as instructed. If you do not see the email, be sure to check your junk/spam folder! The link takes you to a page where you will enter the last 4 digits of your phone number. If the first 6 digits of the number displayed are not related to your cell phone number, please contact FOREWARN Support at 561.757.4551 to update them with your correct cell phone number. You will be prompted to enter a confirmation code that will have just been texted to that phone number. Upon confirmation, you will be prompted to create a password. Now you are ready to download the FOREWARN app by clicking on the appropriate link below from your mobile device, or searching for FOREWARN in the app store: Click here  from your mobile device for iOS / Apple / iPhone / iPad app Click here  from your mobile device for Android app After activating your account, you can log into FOREWARN from any web browser via the FOREWARN.com  homepage  (click ‘Sign In’ at top-right) or via  this link .

So you have some leads... Let’s convert them into opportunities!!! Your next objective is to go through each stage of the funnel: Client Intake Qualification Share your REAL GEEKS app so they can search online Agency agreement Schedule the first showing Submit an offer Client intake and qualification:  Open-ended questions: Ask open-ended questions to build rapport with the lead. For example, “What’s your timeline to move?”, “What is your top need in a property?”, and “What are your deal breakers?”.  Use a client questionnaire Qualify the lead: Determine their financial capacity.  Realistic expectations: Ensure the client’s expectations match the actual rental prices in the area. Educate them about the local market or comparable areas that fit their requirements better.  Evaluate the lead: Not all leads are necessarily a good fit for you, so determine if this is a lead you want as a client.  Agency contract: Discuss the role of the Tenant Agency Contract and your commission. Make sure they understand the agreement and that you need them to sign it before you call the property contact to set up tours.  Schedule the first showing:  Provide options: Offer the lead multiple days and times for the showing.  Schedule Tour: Call the property contact to confirm the listing details, the application process and requirements, and details to show the listing. This is also when you should try to negotiate that the property contact will pay your commission and any commission requirements.  Immediate feedback: After the showing, ask the client for their thoughts on the rental. If showing multiple properties, have them rate each one on a scale of 1-10.  Submit a rental application and get a signed lease:  Sense of urgency: Emphasize to the client that time is critical. Delaying the application process increases the risk of losing the rental to someone else.  Follow the step-by-step instructions (provided below) to prepare and secure a signed lease.

Typically, a 3rd floor   walk-up usually goes for less than the 2nd floor. This is due to the limiting the potential tenants due to lifestyle (Someone with a young child might not want to carry a stroller up all the stairs, an elderly pet might not be able to make it up to them or if the potential tenant has limiting physical abilities, they might be weary of carrying groceries/laundry up all the stairs).  The 3rd floor (which is the penthouse) historically goes for $100 - $200 less than the 2nd floor unit depending on the market.  If you cannot find direct comps to show the price difference between 2nd and 3rd floor comps with your current filters, I recommend looking at your comps a bit differently. Focus on walk-up buildings and look at the percentage difference of rental prices between the 2nd and 3rd floor.  As this search would focus on the percentage of rent difference between 2nd and 3rd floors, you can remove the filters for # of the beds and baths and elongate the months back to get more results. Again, this is solely to calculate the average percentage difference and NOT used to calculate the actual listing price! Example: You find that 123 Main Street is a walk-up building that is similar to your client's building in terms of area and # of stairs to 3rd floor (this may be approximated).  Open a new window in ConnectMLS and click Search > Street Address and enter the address - 123 Main Street.  Make sure to update the filters:  Status - All Active, Pending & Rented  Months Back - 12 months  You see that within a 6 month period, 123 Main Street's 2nd floor rented for $2,700 and the 3rd floor rented for $2550.  Calculation: $2,550 divided by $2,700 = 0.944444 0.944444 x 100 = 94.44% Therefore the 3rd floor rents for 5.56% less than the 2nd floor.  Try to find a minimum of 3 examples to run the numbers and get an average percentage difference between floors and then you can use that to calculate the listing price. Your client will appreciate that you have done your research and not just pulling a number out of thin air.

One of our very own agents has a company who can provide you with AWESOME CLOSING GIFTS! 2 options: Michigan Ave box ($200) 2-8oz prime filets 2-16oz prime boneless ribeyes 2-16oz Prime New York strip State street box ($125) 2-6oz Prime filets 2-16oz prime boneless ribeyes The gift box is delivered in a matte black box with white and 6-red confetti inside in addition to dry ice to keep all the items ice cold. On the front of the box you would See the kale logo as well as the YOUR name. Inside the box will come with a note- YOU can choose what the message will say.  Contact MINO today to place an order!!! 630-796-1851 https://minoprime.com/custom/

You can book time with Risa here .