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In Defense of Real Estate Broker Commissions
I hear it all the time from home sellers. “Why do Realtors make so much money?” I’ve heard a few variants on the sentiment, ranging from the more diplomatic, “Realtors don’t seem to do much work to earn their commission,” to the more direct, “this commission is horse s**t!” I submit to you, however, that Realtors more than earn every penny of their commissions. My first point is quite simple — You don’t realize how much work a Realtor actually does. If your Realtor friend goes for spa treatments every day, they are not closing deals — it’s that simple. Prospecting and networking for clients takes a lot of…
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Why Chicago Landlords Should Not Take Security Deposits
I should first and foremost make it perfectly clear that the follow advice is geared specifically toward Chicago (and maybe also Evanston) residential landlords. If you are a commercial landlord, or a residential landlord somewhere else in Illinois, feel free to scroll past this to another blog post, because it does not apply to you. Now that I have the major disclaimer out of the way, let me tell you why it’s a bad idea to accept security deposits in Chicago. The City of Chicago has a law on its books called the Chicago Residential Landlords and Tenants Ordinance (RLTO). The RLTO imposes a number of fairly onerous requirements on…
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Why Should You Hire An Attorney To Buy or Sell Your Home?
Answer: Because you do not want to risk flushing your money down the toilet. You have probably heard people say that you don’t really need a lawyer for a real estate transaction. Or you may be under the impression that real estate closings are easy for lawyers, and your real estate lawyer really isn’t doing much other than collecting a check at closing. To be honest, I hope and pray that your lawyer does not have much to do, because a smooth transaction makes the herculean task of moving a lot less stressful. Unfortunately, most real estate transactions will involve some unexpected hiccups, and that’s when having an…
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Construction Work Begins on Western-Belmont Viaduct
More change is coming to Roscoe Village! If you frequently use Western Ave., DNAinfo has you covered with this Survival Guide. Best of luck to you Northsiders, while I continue to deal with construction on the new Kennedy to Eisenhower flyover. A half-century old, much traveled viaduct in Chicago is about to be torn down. But will the plan to replace it really improve traffic conditions? Source: Construction Work Begins on Western-Belmont Viaduct Hat tip to WTTW’s Chicago Tonight for the photo!
