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An Open Letter to Owners of Real Estate in the McHenry Area Regarding the Ethics and Selling practices of Real / Estate Brokers and Salesmen 7 The statement that "they are all the same" docs not apply to real estate brokers and salesmen any more than it docs to women, or to doctors, or lawyers, or bankers. Doctors don't always give the same advice, except perhaps to take aspirin. Lawyers may seem the same, but all of them arc not slow. Even bankers are different from one another -- some smile when you ask for a loan. So, it is not surprising that real estate brokers and salesmen are not the same and certainly do not all do business the same way. How We Run Our Real Estate Business When Northern Illinois Realty Service, Inc. opened its offices in McHenry, we determined to operate our business, just as we do in Crystal Lake, on a 3 point service basis: 1. We serve the Seller first. We do not forget that our first obligation, ethically as well as legally, is to represent the best interest of the sellers, the homeowners. 2. We serve the Buyers, too. We have a responsibility to buyers to not try to sell them any property that we do not believe is a good value. That's why we try to avoid listing properties that ar^ overpriced or otherwise do not represent good values. 3. We also try to serve the community. We do not encourage property sales or zoning practices that would be detrimental to the welfare of the community as a whole. But All Brokers Are Not the Same Now, why are we stating here these simple policies that should guide the conduct and practice of every real estate broker? The answer is that we do not believe all real estate brokers and salesmen in the McHenry area follow these standards and, therefore, we do not wish to be obligated by any cooperative agreement to do business with brokers whose business practices we do not regard very highly. We do not wish to have everybody showing homes that we represent. But we are glad to cooperate and os hare our real estate commission with anx broker who will put the interest of the property owner first, without forgetting his obligation to honestly serve the buyer, too. We Do Not Tolerate Cheap Practices Since we opened our ofUccJn McHenry, property owners, buyers, and business men, have welcomed us and we have done pretty well. Apparently we have done too well and in our efforts to live up to the Code of Ethics, to which all members of the McHenry County Board of Realtors have pledged adherence, certain brokers have felt offended. For example, Article 15 of the Code of Ethics states: "The exclusive listing of property should be urged and practiced by the Realtor as a means of preventing dissension and misunderstanding and of assuring better service to owners." We believe in this policy of exclusive listings supported by the National Association of Real Estate Boards and leading brokers throughout the country. It appears, however, that all brokers in , the McHenry area do not wish to work toward upgrading the professional standards of the real estate business. Recently a certain broker called one of our exclusively listed home owner clients and told him he had a "buyer." But that broker said he would not cooperate with Northern Illinois Realty Service. So we quickly told this owner to ask that broker to bring his buyer right out to see the house because Northern Illinois Realty Service would not wish to stand in the way of a quick sale for one of our clients and we would forego all commission. What happened? That broker had no buyer! Apparently he was not telling the truth. In our opinion, his was a cheap practice and we do not wish to do business with real estate brokers who engage in such tactics and we do not believe that McHenry area property .owners will tolerate such deception. That broker was simply trying, to„,the annoyance of the home owner, to harm a new real estate firm that has the courage, the faith in the public, and the dccencv to do business the ethical and responsible way. Should Organize to Upgrade, Not to Downgrade the Business We believe in cooperating with other brokers. Constructive cooperation encourages competition on a higher level. But it is stupid toorganize to perpetuate mediocrity. And it is unlawful to organize to destroy. However, it is wise and profitable to organize to upgrade a business or profession, to set higher standards in order to better serve the seller, the buyers, and the community. Requirements for Real Estate License Should Be Raised ' •$} Because the sale or purchase of a home represents a lot of money and is a major decision in the lives of most people, we believe home owners and home buyers have a right to expect responsible and informed service from real estate brokers and salesmen. In our opinion, the requirements and examinations necessary to obtain a real estate license in the State of Illinois should be substantially raised. Many real estate brokers and salesmen work at other jobs and sell real estate on the side. Some lawyers and insurance agents also obtain real estate licenses to supplement their income. Whether one works "part-time or full-time, the real estate practitioner should know his business well in order to properly serve"-5otl\ seller, buyer. *• The Duty of Real Estate Broker or Salesman There are no perfect real estate brokers just as there are no perfect lawyers or bankers. No real estate broker or appraiser can be sure of the exact price for which a property will sell or when it will sell. But if the broker is dedicated to his profession, he will inform himself thoroughly about the real estate market, learn all about his client's particular property, advertise, it well, promote it, and do his utmost to get the best price possible for the seller and as soon as possible. We Guarantee at Least $200 to Advertise Each Home A broker who lists a home for sale should earn his commission, not just stick his sign in the owner's" yard and neglect to advertise and merchandise the property. To make certain that all our home owner clients get plenty of advertising, effective immediately Northern Illinois ° Realty Service will guarantee to spend at least $200.00 to advertise each and every home we represent. This guarantee will be supported by proofs of newspaper adverfising, photographic listing sheets and other merchandising1"' aids. Of course, if we sell the property in just a few days, that much advertising will not be necessary and the sale of the property fulfills our guarantee. Good Broker and Good Advertising Means Good Sale Today's market for homes is good and all the seller really needs is one aggressive, capable, responsible real estate firm that will advertise the property extensively. Strong advertising and strong representation by the broker of the seller's best interest is the quickest way to get the highest market price for any property. We Are Always Glad to Cooperate With Responsible Brokers Real estate brokers and salesmen are, certainly not the same. They vary in abilities, education, and attitudes just as people in other professions are different. Property owners and business and political leaders should recognize that the quality gnd competence of local real estate brokers substantially affects the uses and values of local real estate. Most real estate brokers are capable, honest, and considerate of their responsibilities. There are a few, however, with whom neither we nor you, perhaps, wish to do business. But since our job is to sell our clients' properties, we are always glad to put personalities aside and cooperate with and share our commissions on sales with any broker who will: 1. Serve the property owner's interest first and honestly. 2. Serve the buyer responsibly and honestly. 3. Serve his community well and honestly. When you are ready to sell your property, please call us. We shall be proud to represent you, to advertise your property vigorously, and try to sell it at the current market price. Member of National Association j»f Real Estate Boards National Institu^eof Real Estate Brokers National Institute of Farm and Land Brokers Illinois Association of Real Estate Boards Northeastern Illinois Urban Land Brokers Association Urban Land Institute McHenry County Board of Realtors National Multi List Service (Serving real estate needs locally and in any part of the nation) 385-2340 3618 West Elm Street, McHenry NORTHERN ILLINOIS REALTY SERVICE INCORPORATED Sign of Good Value in Real Estate