Mainstreet REALTORS® Media Center

You Spoke, We Listened: Mainstreet Revamps Forms and Contracts Library

Tue, 05 May 2026 20:38:17 GMT

Mainstreet HQ, Downers Grove – Mainstreet is dedicated to making things easy for our members. After reviewing member feedback, we have made several improvements to the Forms and Contracts library to simplify and streamline your access. There are three different updates:

1. Log in to MyMainstreet and look for the green Forms and Contracts Icon, located in my tools across the top of the page.

2. Secondly, on the left side of the member portal, the purple vertical column of clickable resources says, “member resources.” Once here, look for the “forms” tab listed along the top of the dropdown menu choices.

3. Lastly, if you know which form you are looking for, instead of using member resources, navigate to the member portal page and in the same purple vertical column, look for “forms and documents.” Here you can search for the form you need by keyword.

The above video details these changes, step by step. Click play to watch our tutorial video, brought to you by the Professional Standards staff at Mainstreet REALTORS®.

Do you want access to our industry-leading forms and contracts library?

Trip to Springfield: The President's Perspective

Mon, 04 May 2026 19:31:42 GMT

Mainstreet REALTORS® was honored to be a proud sponsor of Polonia Impact Day in Springfield on April 29 —an impactful day dedicated to celebrating and elevating the voice of the Polish American community across Illinois.

We are especially proud that our 2025–2026 President, Kinga Korpacz, attended this important event as the first Polish President in Mainstreet’s history . Her presence reflects not only a personal milestone but also the growing diversity, leadership and cultural representation within our organization and the real estate industry as a whole.

Polonia Impact Day brought together leaders, advocates and community members to engage directly with legislators, celebrate heritage and strengthen relationships that shape the future of our communities. The event featured special proclamations recognizing the contributions of Polish Americans, including efforts led by Senator Robert Martwick and presentations by Senate President Don Harmon, alongside support from Omar Aquino and Laura Murphy.

Treasurer Michael Frerichs and his team also welcomed all participants to the Capitol, helping create a memorable and meaningful experience for all in attendance.

Events like Polonia Impact Day highlight the importance of advocacy, cultural pride and community engagement—values that strongly align with Mainstreet REALTORS®’ mission. As REALTORS®, we know that building strong communities goes beyond real estate—it means showing up, supporting one another and having a voice in the decisions that impact housing and homeownership.

We are proud to stand alongside the Polish American community and look forward to continuing to support initiatives that bring people together and make a lasting impact.

Mainstreet June Data Call: NAR Chief Economist Dr. Lawrence Yun Gives a Mid-Year Update

Fri, 24 Apr 2026 14:41:43 GMT

Mainstreet HQ, Downers Grove – Mainstreet’s Economic Outlook 2026 presented forecasts for the U.S. economy and possible Illinois housing market trends. That was in January. Halfway through the year, you need an update. Mainstreet has the data call you will want to hear for the second half of 2026. Listen in as NAR Chief Economist Dr. Lawrence Yun provides insights and advice about the back half of 2026.

The Mid-Year Economic Update is a Mainstreet webinar focused on economic signals for the second part of 2026. Here is what Illinois voters think about the economy:

- 81% Say Housing in Illinois is Unaffordable;

- 65% Support Allowing Modest Duplexes on Larger Residential Lots;

- 59% Bipartisan Support for Housing Affordability as a Top Priority;

- 33% Have Had to Cut Back on Daily Essentials to Afford Housing.

Using the information above, it is fair to say affordable housing and inventory are hot button issues in the world of economic headlines and topics. Specifically in Illinois where the supply crisis is squeezing middle class families out of the market altogether. For example, according to Illinois REALTORS® research, “Illinois would need to TRIPLE new home construction for 5 years in a row just to meet the current demand.” – Excerpt from IR Unlocking Our Housing Plan 2026.

Now hear what Dr. Lawrence Yun has to say!

The update coming from Dr. Yun, Chief Economist at NAR will provide critical information about what buyers and sellers have been doing so far in 2026. Knowing what your clients want based on buyer and seller behaviors gives you an advantage over other agents who are a day late and a dollar short. A one-hour webinar is a small price to pay for an increase in Q3 and Q4 sales volume.

Click here to register today for the Mid-Year Economic Update.

Chicagoland Housing Market Hits its Spring Sprint

Wed, 22 Apr 2026 20:29:15 GMT

Spring arrived in Chicagoland suburbs and so did homebuyers.

The sales of detached, single-family homes were up 7.5% year over year in March, with 2,134 homes sold compared to 1,985 a year ago. Homes spent an average of 53 days on market, down slightly from 54 days last year. Median prices were up nearly 5%, from $385,000 in March 2025 to $403,250 last month.

Months' supply for housing inventory was just 1.5 months across the entire Chicagoland PMSA, well below the five to six months that signals a balanced market. To put that in perspective, Bloomingdale currently has just 8 homes for sale, while a comparable community in Florida has roughly 2,000.

"Inventory is still severely constrained and so we are seeing extreme competition for quality listings," said Kinga Korpacz, President of Mainstreet REALTORS®. "Buyers are waiving attorney review and inspections and coming in with significant earnest money."

Buyers may find more options in Kane County, where new listings were up 14.5% last month, compared to the same time last year.

Even in the attached home segment, where 1,086 homes sold compared to 1,094 a year ago and market time increased from 42 to 54 days, median prices climbed 5.6%, from $270,000 to $285,000.

"Even though prices are on an upward path in the Chicagoland suburbs, the market feels predictable," said John Gormley, CEO of Mainstreet REALTORS®. "When things are moving this fast, local expertise from a Mainstreet REALTOR® isn't optional, it's essential. They're going to know the community inside and out, meaning where you have to move quickly and where you may have a day or two to make a decision."

Aurora led the region in detached home sales during March with 100 homes sold, followed by Naperville and Arlington Heights.

While detached homes across the region sold in an average of 53 days in March, several suburban communities saw average market time fall compared to a year ago:

Arlington Heights (70 days to 25 days)
Downers Grove (59 to 36)
Geneva (35 to 25)
Lombard (48 to 25)
Streamwood (49 to 30)
Tinley Park (107 to 37)
Wheaton (24 to 10)

If you're helping buyers right now, look for pockets like Kane County, where inventory is a bit stronger, or the attached home segment, which – for the moment – offers a little more breathing room when it comes to competition and price.

Brian Palm Named Mainstreet 2026 REALTOR® of the Year

Tue, 24 Mar 2026 16:55:43 GMT

DOWNERS GROVE, IL – Mainstreet REALTORS® has named Brian Palm, designated managing broker and president of Palm Real Estate Ventures, Inc. in Naperville, as its 2026 REALTOR® of the Year. This award recognizes Brian’s outstanding leadership and contributions to both the real estate industry and his community.

The REALTOR® of the Year Award is Mainstreet's highest honor, celebrating a local REALTOR® who goes above and beyond in their professional and civic engagement.

“Brian is a shining example of the work REALTORS® do every day to both advance the field of real estate and to strengthen their communities,” said Kinga Korpacz, President of Mainstreet REALTORS®. "In addition to his involvement as a leader on nearly 20 committees across Mainstreet REALTORS® and our state and national associations, Brian uses his leadership skills to benefit several Naperville nonprofit organizations and to advocate for human rights and fair housing with the City of Naperville. His commitment to his community continues to shape it for the better.”

Brian currently brings his talents to several Mainstreet committees, including government affairs, professional standards and commercial alliance. He also served as the chair of the Commercial Committee for Illinois REALTORS® and on several other committees for both the state and national REALTOR® associations. Throughout his career, he has contributed to committees, task forces and workgroups focused on everything from engaging young professionals to improving real property valuation. Together, his service reflects a commitment to governance excellence, risk mitigation, policy and consensus-building.

Outside of the real estate industry, Brian’s civic engagement also reflects his commitment to his community. Brian has served as a board member and Chairman for the Naperville Mayor’s Charity Golf Outing. He is also the Commissioner of the City of Naperville’s Human Rights and Fair Housing Commission, where he leads initiatives to ensure more people in Naperville can achieve the dream of home ownership.

He has also served in a variety of leadership roles with the Naperville Chamber of Commerce, his own Homeowners Association, Boy Scouts of America and the Naperville Park District. Whether working with youth or advocating for policy change, the common thread across his civic engagement work is his commitment to making Naperville a better place for people from all backgrounds and walks of life.

"I am humbled and thrilled to receive this recognition from Mainstreet and my fellow REALTORS®," said Palm. "My goal throughout my career has been to use real estate as a tool to improve the region where I live, and this acknowledgement both celebrates that focus and reinforces my commitment to the work I have yet to do. As the recipient of this award, I look forward to continuing to advocate for property rights and to showcasing the positive impact REALTORS® have on economic development and our communities.”

Mainstreet CEO John Gormley celebrated Palm’s outstanding commitment to his profession and the community.

"Brian is a REALTOR® so many of our members look up to and for good reason. He is incredibly intentional with his time and talents, using them to contribute to the betterment of his community, whether through expanding affordable housing or helping youth get ahead. We know his impact will only continue to grow as the recipient of this year’s REALTOR® of the Year Award."

Big Win for Illinois REALTORS® & Mainstreet: The Voice for Real Estate in Illinois Reflected in 2026 State Budget

Fri, 06 Mar 2026 22:03:36 GMT

"The Missing Middle"

Mainstreet HQ, Downers Grove – In February 2026 Governor J.B. Pritzker announced the budget for housing priorities. The budget includes funding for Illinois REALTORS® initiative about zoning flexibility, addressing the need for a “missing middle” as part of a greater effort to soften the state’s housing woes.

IR CEO Jeff Baker spoke to the media to recognize progress made by the recently announced plan to expand population and housing density statewide, aligning closely with what Illinois REALTORS® has been advocating for since 2020.

“This is a major step forward for the real estate industry in Illinois,” Baker said. “There are a lot of other issues that can grab [the Governors] attention. For this to be on Pritzker’s short list, that’s a huge win for the real estate industry.” – IR CEO Jeff Baker via TheRealDeal

Click here to view Illinois REALTORS® full article.

As it so happens, this sort of advocacy happens all year long. There is a constant voice in the ears of lawmakers in Springfield and that voice belongs to the REALTOR®. If you read stories like this and think about how you could be someone who uses their voice more effectively, keep reading.

Mainstreet REALTORS® travel to the heart of downtown Springfield via bus every year to speak with lawmakers and decision makers in the State Capitol building, numbering in the hundreds. As a collective crowd, REALTORS® from all over the state show up, numbering in the thousands. They are united in their goal: make people see and hear them when it comes to protecting private property rights.

To get your ticket for one of the buses headed to Springfield leaving one of Mainstreet REALTORS® campuses on April 14 click below.

2026 Illinois Law Updates

Tue, 06 Jan 2026 15:44:06 GMT

Changes Are Here In 2026; What To Know

As of January 1, Illinois Law updates have been passed and signed into effect. Seeing as how there are quite a few and cover a wide array of important changes, expand the options below to read more about each update.

What does Mainstreet REALTORS® think about AI, Artificial Intelligence?

Fri, 14 Nov 2025 16:35:15 GMT

This headline poses a big question. I’m not sure. Let me ask Chat GPT. (Just kidding).

Aside from the larger question – should we even take an overall For or Against position on AI? – it’s important for us to understand how REALTORS® and consumers are already using AI technology in real estate. More importantly, we need to know how to advise Mainstreet members on the pros and cons of using AI in their businesses.

For example, we know that roughly two-thirds of all real estate agents in the U.S. have used AI (mostly Chat GPT and similar tools) at least a little. And about half of those use AI to create listing descriptions/marketing content. The downside? This AI-generated content could be problematic if it’s not checked and edited for accuracy and fair housing compliance.

On top of that, you could be in further danger if you’re using free versions of AI tools. Because you’re probably contributing to someone else’s content and security; not your own.

[1] Here’s a quick list of how REALTORS® are using AI:

Listing copy + marketing content: Writing listing descriptions, social posts, email nurture, open-house blurbs. Tip: Feed the model structured property facts, fair-housing guardrails and your voice to stay compliant and on-brand (Source: NAR ).

Rapid creative for visuals: Using virtual staging, enhancement, video scripts and reels to showcase home features when full staging and video budgets aren’t feasible. Tip: Combine with clear disclosure to avoid misrepresentation (Source: TheRealEstateTrainer.com ).

Follow-up and CRM hygiene: Drafting first-touch replies, lead-routing snippets and task summaries, then handing off to your CRM. (Source: NAR ).

Market prep and comps support. Outlining CMA talking points and neighborhood briefs that you verify with MLS data. AI is a prep assistant, not the source of record. It’s time saving and client-experience enhancing. Tip: Use AI to assemble, then validate. (Source: NAR ).

For the last several years, Mainstreet has produced and hosted our own in-person tech and marketing conference, Propel, with a focus on AI.

Moreover, we’ve made a sizable investment in big tech for our members, launching a new digital experience on the Membio platform including MainstreetRealtors.com, the MyMainstreet member portal and a consumer listings website, ChicagolandHomes.com . The Membio platform is always evolving and changing and will increasingly incorporate AI technology to deliver better service and free leads to our 19,000 members.

We’re also ramping up the use of other AI tools in our communications and marketing work, notably with video.

Coming this December, our own Carrie Little is teaching the three-hour CE course – Innovation of Real Estate: Embracing AI, Ethics, Digital Marketing and Data. Fittingly, we’re offering this via Zoom.

Coming back around to the question of, “why do we at Mainstreet REALTORS® care about how AI is used in real estate?” The answer is related to our Big Why: Mainstreet empowers every member to define and achieve their goals.

If AI can help you achieve your goals faster – and if you use it wisely, it certainly can – then we care about that. Because we care about anything that can make you more successful (while also keeping you out of trouble). We’re obsessed with what works.

The live virtual mastermind that I was part of featured Chris Smith as keynote speaker. He said that empathy is the new currency. Meaning that when virtually (no pun intended) everyone in real estate ends up using AI to do basic research and writing, automate tasks and save time and money – you can still differentiate yourself by being human. That’s good news.

“Average is over,” said Smith. “Create memorable moments.”

That’s exactly what we’re about at Mainstreet REALTORS®. We’re here to give context and clarity to our ever-changing real estate landscape. And give you opportunities to learn, grow and thrive. Whether that’s learning more about AI – sign up for Carrie’s course! – or engaging in some other way in our diverse and forward-thinking community.

As I said at Propel two summers ago, I’m a big sci-fi fan. I love the Terminator and Matrix movies. But I don’t believe technology is here to usher in doomsday.

It’s here to be a tool that we can all better understand to help us do our work.

John Gormley is CEO of Mainstreet REALTORS®

[1] This list was created using ChatGPT

Season of Giving: Mainstreet Partners with Trio of Pantries to Help Feed Communities in Need

Thu, 13 Nov 2025 16:09:44 GMT

Mainstreet HQ, Downers Grove Campus – November is the time to show gratitude for all we have. Cherished traditions and time spent with loved ones can be taken for granted as those in need struggle to experience a season of giving. We are proud to announce the November Food Drive aimed at supporting local families as part of a larger partnership with Northern Illinois Food Bank, West Suburban Community Pantry and Tinley Park Food Pantry.

Here at Mainstreet REALTORS® we are always looking for ways to embrace the communities that comprise our membership. This month our efforts focus on a Food Drive to provide families in need with nutritious options for their holiday meals. In cooperation with our own internal efforts collecting non-perishable food from our staff and their families, Mainstreet is honored to announce a trifecta of partners supporting our November Food Drive.

Read about each of our partners below and learn how you can be a part of our Food Drive because small acts of generosity can make a big difference. Click on the names of each pantry to donate monetarily.

Anyone who wishes to donate food may drop off all non-perishable items at any of the Mainstreet REALTORS® campuses, Monday to Friday 8:30 a.m. to 5 p.m. from now until November 21. Click here to view the itemized list of consumables needed most.

Northern Illinois Food Bank – “At Northern Illinois Food Bank, they focus on delivering food and healthy eating services to the Northern Illinois community. As part of the national Feeding America network, they serve neighbors in 13 counties by providing 250,000 meals per day at four different distribution centers.”

West Suburban Community Food Pantry – “West Suburban Community Pantry (WSCP) creates opportunities for neighbors to thrive by providing nourishing food and access to supportive resources. Serving 1,000 families each week in Fiscal Year 2025, WSCP is integral to helping people in DuPage and Will Counties receive the nutrition they need to lead full lives. They work to break down barriers to food assistance, implement new services to best help people in our community, encourage volunteerism and educate about existing needs.”

Tinley Park Food Pantry – “The Tinley Park Food Pantry was started in 1982 by Stan Slack in the United Methodist Church with the purpose of assisting poverty level families who reside in Tinley Park and Orland Hills via a weekly distribution of food that has occurred every Wednesday since the TPFP's inception. They currently serve 50 families a week (160-170 people).”

Half a Century of Service: Mainstreet REALTORS® Reach 50-Year Milestone

Wed, 22 Oct 2025 21:44:44 GMT

Half a Century of Service:

Mainstreet REALTORS® Reach 50-Year Milestone

Mainstreet member Charles Castelo, Coldwell Banker Realty, one of the 50-Year honorees.

Fifty years. Half a century of serving clients, building committees and shaping the story of real estate across Chicagoland. This milestone is more than just a number. It represents perseverance, adaptability and a genuine love for helping people find their place in the world.

Think back to 1975, Interest rates were over 9%, listings were printed in binders and the only way to share a photo of a home was to hand someone a stack of glossy prints. Contracts were handwritten, negotiations took place face-to-face and business was built through phone calls, postcards and word of mouth.

Over the decades, everything changed. Fax machines gave way to email. Paper files turned into digital folders. Virtual tours replaced Sunday open houses and buyers began searching online before ever calling an agent. The world moved faster, and REALTORS® adapted with it. Yet through all the change, one thing stayed the same: the relationships.

To thrive in this business for 50 years takes more than skill. It takes heart. It means showing up for clients through every market swing, celebrating their wins and helping them start new chapters in their lives. It means being a trusted voice in the community and a steady guide when things get uncertain.

Our 50-year members have seen every high and low. They have mentored new agents, built lifelong friendships and left lasting marks on the neighborhoods they serve. They have witnessed the evolution of the REALTOR® brand, the rise of technology and the continued importance of professionalism and ethics in every transaction.

Mainstreet member Sharon Kubasak, Baird & Warner, and Designated Managing Broker Andrew Croegaert, Baird & Warner.

Mainstreet CEO John Gormley and Mainstreet member James Merrion, Merrion Realty Services.

2025 Mainstreet REALTORS® 50-Year Honorees

Stephen Allmart, Stephen J. Allmart
George Ayling III, Select a Fee Real Estate System
Carol Baker, RE/MAX Suburban
Wilton Battles, Sperry Van Ness / WLB Real Estate Group
Alpha Benedetti, Alpha Benedetti, REALTOR®
Douglass Blount, Berkshire Hathaway HomeServices Stark Real Estate
Richard Capoccioni, RE/MAX Plaza
Charles Castelo, Coldwell Banker Realty
Louis Cavelle, Cavelle REALTORS®
Susan Coveny, RE/MAX Suburban
Peter Ellis, Contempo Partners Real Estate
Robert Gorman, Gorman Group
Bruce Hackel, RE/MAX 10
Edward Hall, Baird & Warner
Constance Highland, Baird & Warner
Chris Jackson, Woodland Realty
Steven Kephart, Century 21 Circle
Marilyn Kosik, Berkshire Hathaway HomeServices Chicago
Steve Kranz, Kranz Real Estate, Inc.
Thomas Kreuser, Baird & Warner
James Kubal, Team REALTORS® Ltd.
Sharon Kubasak, Baird & Warner
Larry Kubiak, Service Realty, Inc.
Wayne Laatz, eXp Realty
James Leech, James W. Leech
Michael Lullo, Century 21 Circle
James Merrion, Merrion Realty Services
Pat Murray, Berkshire Hathaway HomeServices Chicago
Fred Nelson, RE/MAX Suburban
Louis Papadakos, Spartan Real Estate & Development
Thomas Passaro, Baird & Warner
Thomas Powers, Charles Rutenberg Realty of Illinois
Stephen Randolph, RE/MAX Suburban
Helmuth Reuter, Platinum Partners REALTORS®
Roger Sabella, RE/MAX 10
Daniel Satre, ERA Naper Realty, Inc.
M.J. Seiler, Baird & Warner

Mainstreet member M.J. Seiler, Baird & Warner.

As we celebrate these members, we celebrate everything they stand for: integrity, resilience and a passion for helping others. They have seen real estate grow, transform and reinvent itself and they continue to be part of its story worth telling.

To our 50-year honorees, thank you for inspiring generations of REALTORS® to serve with excellence and heart. Your legacy reminds us that in every home sold and every family served; there is a story worth telling.

Today, Mainstreet REALTORS® proudly recognizes these remarkable individuals who have reached the 50-year milestone in 2025. Their careers remind us that success in real estate is not about chasing the next deal, but about committing to a life of service, learning and connections.

Mainstreet CEO John Gormley and Mainstreet member Dan Satre, ERA Naper.

Where Commercial Meets Diamonds: Mainstreet Earns Third Consecutive NAR Diamond Award

Tue, 14 Oct 2025 20:03:34 GMT

Mainstreet REALTORS® HQ, Downers Grove – For the third consecutive year Mainstreet REALTORS® applied for and earned the highest level of accreditation from NAR for our Commercial Services division, displaying steadfast dedication to all things related to commercial real estate advocacy.

From 1958 to 1969, the Boston Celtics won 8 straight NBA championships. In 1978 and 1979 the Pittsburgh Steelers won back-to-back NFL Superbowl trophies. In the 1990’s, the Chicago Bulls won three NBA titles in a row, twice.

While it may be an exaggeration, the fact remains: from 2023 to 2025/2026 Mainstreet REALTORS® has been awarded three straight Diamond Accreditation Awards for Commercial Services from NAR.

“What is the NAR Diamond Accreditation Award for Commercial Services?” Glad you asked.

There are three levels to the accreditation: gold, platinum and diamond. NAR has benchmarks, or requirements that each association must demonstrate to achieve a higher accreditation. For instance, diamond level requires a minimum of 41 benchmarks.

These requirements range from commercial real estate advocacy efforts to educational opportunities to community presence. All the benchmarks factor into the most important aspect of the diamond award: creating a thriving commercial division at Mainstreet REALTORS® for agents in any stage of their career.

All of this to say, if you are new to real estate and need a place to get your foot in the door or you have been in the industry for years and are looking for a change, Mainstreet REALTORS® is the place to be.

We have year-round educational classes, specialized seminars, subject matter experts, keynote speakers and a community manager dedicated to the needs of anyone in the commercial real estate arena.

A Word to Our Sponsors: Mainstreet Events Foster Community Growth

Fri, 05 Sep 2025 15:05:11 GMT

Sponsoring a Mainstreet REALTORS® Event Increases Visibility and Connections

Mainstreet HQ, Downers Grove – Mainstreet REALTORS® is the largest local real estate association in the state of Illinois and serves more than 19,000 members throughout the Chicagoland area.

Are you thinking about becoming a sponsor for a Mainstreet REALTORS® event?

3 Reasons and Explanations About Why You Should Sponsor

Reason #1 Connect Face to Face: Face-to-face networking is key and at events like Oktoberfest where attendees reach nearly 1,000 people, you never know who you are going to meet!

Best Practices Explanation: Interact with attendees on a deeper level. Move beyond a business card. Entice people to stand and chat with you and your team. Start building a relationship.

Reason #2 Lead Generation: Lead Generation means creating opportunities instead of hoping to get lucky.
Best Practices Explanation: Follow-up with your new connections. Offer reasons for why the conversation at the event was so memorable. Send an email, make a phone call and show them you are here to be a resource for their business needs.

Reason #3 Boost Brand Visibility: Boosting brand visibility in front of hundreds of real estate professionals all looking to make connections and increase their own bottom line.

Best Practices Explanation: Be visible. Let your brand shine. You want people to remember you and your business. They have the option to take their money and their business anywhere, make sure they bring it to you!

Mainstreet REALTORS® brings together the people who shape real estate in Chicagoland. Become a sponsor today!

Powerful Moments at Signature Events – The Real Value of Mainstreet’s Oktoberfest

Wed, 13 Aug 2025 15:29:29 GMT

Where Will You Be October 2?

Mainstreet HQ, Downers Grove – Oktoberfest is the largest signature event at Mainstreet REALTORS®. We have live music, food, raffles, games, prizes, a beer garden and the largest real estate vendor show in Illinois.

The most prized part of Oktoberfest is not a tangible item; it’s something far more precious.

Networking is the single most valuable tool available to real estate professionals at any level, from broker to affiliate partner to association executives. Our CEO, John Gormley will tell you the same thing:

“Oktoberfest is THE event where the Chicagoland real estate community gathers every fall for good food, good times and good fellowship. You will mingle with regional movers and shakers in a fun, relaxed environment. This is where friendships are formed and future deals are made.”

– John Gormley, Mainstreet CEO

Connecting with other real estate agents and service providers at Oktoberfest is unique in the sense that “you just have to be there,” to really grasp the magnitude of its value. You could spend most of your afternoon in the vendor fair tent, speaking to people from all over Chicagoland about their products, personnel and services. But in case you need five concrete benefits to joining us this year, see below.

5 Reasons Why Networking at Oktoberfest Matters:

1. Build Your Brand – Your name and face will be seen as you make new connections. Your voice will come alive instead of people scrolling past it on their phones. Stand tall and be recognized.

2. Promotes Awareness – You will absorb marketing ideas and strategies just from being immersed in the tents and social circles. The more you learn, the easier you earn.

3. Working While Not Working – Technically, this is a work event. While it may feel like one 4-hour party, which it is, you are surrounded by like-minded people who will talk shop all day long.

4. Current Events – You are going to come away feeling like you have your hand on the pulse of what is happening in local markets as well as national trends. We have close ties with Illinois REALTORS® and NAR; plus 700 other attendees for you to meet.

5. Referral Haven – How much of your business is referral based? More than zero but less than 100 percent. Attending Oktoberfest may result in one (or more) referrals for you. That right there makes it worth your time to take a day and come to Downers Grove Mainstreet HQ.

What are you waiting for? Registration is now open for Oktoberfest and numerous sponsorship opportunities are available.

Click here to be redirected for your ticket, today!

This Is Going To Be Awkward: Avoid Embarrassing Moments and Make Lasting Connections

Tue, 12 Aug 2025 14:03:40 GMT

In commercial real estate, our primary means of prospecting are phone calls and drop-ins. The fact is the opening seconds of those interactions are going to be awkward, and there is really nothing you can do about it. You must be able to endure the pressure and tension of those moments. Trying to avoid it will only limit your success or derail your career entirely. The goal is not to eliminate the awkwardness in the opening moments of a sales call; it is to shorten the duration of the awkwardness. How do we do that? Hang up quickly. Just kidding. We accomplish that by answering the three burning questions in the prospect’s mind.

Who are you? This is common courtesy, but I’m surprised at how often I hear salespeople skip the introduction. I’ve heard the reasoning that being casual and assumptive makes the prospect think maybe they know you already and keeps them on the line. Let’s assume for a minute that works, which I’m not sure it does, it is deceptive. The prospect will eventually realize they don’t know you, and now you have begun the relationship on a manipulative note. Please, just tell them who you are.

What is this regarding? One of the most common complaints I received when I was managing brokerage offices was prospects accusing an agent of “bait and switch.” The agent might have called claiming to have a buyer for the property and very quickly pivoted to a discussion about an exclusive listing to market and sell. Being clear about the purpose of your call doesn’t preclude you from changing topics if the client takes you there. However, be up-front and clear about the purpose of your call.

Is this worth my time? For the prospect to answer this question positively, the purpose of your call needs to be actionable. This is where it gets trickier. Transactional calls like, “are you planning on buying or selling within the next 12 months” only capture prospects who have already identified that need. Generic calls like, “what are your plans with your property in the next six months” are easy for the prospect to shut down. They weren’t expecting your call let alone a property brainstorming session. A more universal approach is to offer up something of value with only one expectation of the prospect – give me a few minutes of your time. What do people value in the opening moments of a sales call? Time, money, or satisfying curiosity. One quick personal example; yesterday I got a postcard in the mail informing me my neighbor’s house closed escrow. The agent invited me to call for more information. I have no plans to sell my house, so I’m not going to call. But what if he had called me or knocked on my door? I would have absolutely wanted to know, and it could have been the beginning of a relationship. The same is true for the best commercial real estate brokers. The most successful are harvesting the fruits of relationships begun and nurtured over the course of many years.

If you can stand some momentary embarrassment, this business is a phenomenal place to be. We all know what it’s like to be on the other end of a cold call. It is nearly impossible not to feel little irritated at the intrusion. But the best brokers don’t apologize for making the call; they simply know how to get to the point quickly. Once identity, purpose, and value are established, the tension will fade.

To see and hear more content from Tim Rios and commercial events, register for the upcoming 2-day seminar, click here for details and registration.

When the Dust Settles: NAR Lawsuit Finalized, What Does it Mean for Mainstreet Members?

Fri, 20 Dec 2024 20:20:18 GMT

Executive Summary

The Sitzer/Burnett settlement has been approved as of November 26, 2024, settling the class action claims related to broker commissions. NAR’s goal was to protect as many NAR members as possible while preserving consumer choice in their approach to buying or selling a home. In addition to the practice changes that went into effect on August 17, 2024, NAR agreed to a settlement payment over the course of four years. Click here to view the Sitzer vs. NAR court documents. Click here to view the Burnett vs. NAR court documents.

Section 1: What does this mean for representing home buyers?

All MLS subscribers are now required to use written buyer representation agreements; failure to do so will result in disciplinary action.
The written buyer agreement must be in place prior to touring a home; this is considered “working with a buyer,” and establishes a relationship.
The written buyer agreement must detail agreed upon compensation for REALTORS® for their services.
NAR details FAQ’s for buyer representation, #’s 71-91, click here to see them expanded.

Section 2: What does this mean for representing home sellers?

Compensation may no longer be offered via the MLS. Compensation continues to be negotiable and may be offered off-MLS.
The settlement makes very clear that NAR continues to deny any wrongdoing related to the cooperative compensation model and MLS.
NAR’s FAQ page details seller representation in life, post settlement. Click here and look at #’s 44-70.

Section 3: Dos and Don’ts Post Settlement

DO be optimistic about these changes. They foster consumer choice. Clients buying or selling property will pick REALTORS® because of a reputation they can trust and verify. As a part of the NAR Code of Ethics, all REALTORS®'s primary responsibility is to put their clients’ best interests at the forefront.
DO continue to negotiate for your clients as well as your own business. No one has ever asked you to work for free; your value as a REALTOR® will influence your compensation. Being a great negotiator is critical for alternative compensation such as a fixed fee paid by buyer(s), concessions from seller(s) or a portion of listing broker compensation.
DO be creative with your negotiations. Waiting for a paycheck has not always been feasible for some. Compensation can come in many forms, an hourly rate, flat fee or a percentage of the purchase price. More options give you and your buyer more solutions.
DO what others won’t. The practice changes may include adjustments to your business practices. “The old way of doing things,” is out. Be nimble, make decisions independently or with the counsel of your Designated Managing Broker to compete in this changing landscape. Capitalize on the opportunity created by the NAR settlement because that must be your mindset: opportunity is now.
DON’T panic about these changes. Education and information remain in your best interest. Perhaps now more than ever before, the REALTOR® with the best information will offer their clients the most competitive edge. Mainstreet offers education courses and networking events year-round to ensure our members have the most up-to-date coursework possible from top-flight instructors. We want you to be the go-to resource for agents in your office as well as your clients, because that’s what we are here for - our members. Click here to view our upcoming courses and event calendar to register for a class you need.
DON’T cancel your Mainstreet REALTORS® membership. It is perfectly natural to feel mixed emotions about the NAR settlement but it was also designed to protect you. REALTORS® are a trusted source of advice and stand ready to help clients navigate their real estate journeys and help their clients make choices that work best for them. We have your back, like always.
DON’T try to cut corners. That is a one-way ticket to the wrong kind of attention and possible consequences. Ideas like creating your own website to list offers of compensation for your marketplace’s listings or a database to house this kind of information could potentially result in discipline. Follow the rules and stay consistent.
DON’T be a social media crusader. Comments agreeing to fix any amount of compensation or discussions regarding collusion in the comment section of a colleague’s social media post could appear as violations of federal anti-trust laws for price fixing. You may not think it was serious but facts are facts; those comments on social media can be used to levy millions of dollars in fines for an individual and more for corporations. Let’s just scroll past that idea, huh?

Section 4: Consumer Transparency

Prospective home buyers and sellers may sit on the opposite sides of the table but they do sit at the same table. Meaning, both parties deserve a fair and honest representative negotiating for their best interests. Moreover, consumers choose to work with REALTORS® because of that fairness. Buyers want the best price and interest rate possible. Sellers want to earn a big return on investment after selling their home. It is up to their REALTORS® to ensure this happens.
Additional forms, such as the now mandatory buyer representation agreement, make the most complicated purchase of most people’s lives that much clearer. These agreements leave no room for open-endedness. In fact, the NAR settlement states it specifically: “no open-ended compensation.” Buyers will see in black and white exactly what they are paying their Mainstreet REALTOR® to do.
Buyers and sellers have more in common than they have differences. Namely, communication about the buying or selling process; specifically with the first-time home buyer. Buying a house or condo is a massive influx of new information and procedures, from touring and making offers to earnest money and home inspections. REALTORS® offer guidance, advice and suggestions about offers and subsequent negotiations. The transparency baked into this adventure is paramount to making it to the closing table. Consumer trust is impossible to substitute. Click here to view Mainstreet's Laws and Standards page for REALTORS®.

Section 5: Industry Shifts

The NAR settlement has added a greater need for buyer transparency. The need for increased communication has further emerged as the compensation conversation onus rests on the REALTOR®. Questions like, “how will I get paid?” have rarely been a question before now. Life post NAR settlement is different. You MUST be upfront about outlining your professional services and what you will be paid for those services.
It is a real possibility that a buyer and their REALTOR® will not know how much compensation a seller may be willing to offer, if at all. This reinforces the need to create greater transparency for our buyer clients. A buyer must understand how compensation will impact their offer and negotiations.
Similarly, a seller also deserves to have an outline of your professional services and what you will be paid for those services. This includes how offering compensation (or lack thereof) could impact the pool of potential buyers, how and where to market that compensation and how compensation might impact the offers received. These are all at their discretion and guided by a REALTORS® expertise.

Section 6: What are “Minus Fees”?

In this context, “minus fees” are fees that a brokerage may charge to reduce the compensation owed to another brokerage. When compensation was offered through the MLS and a minus fee was applicable, it was deducted from the listing brokerage ‘s payment of compensation to the buyer brokerage. Now that compensation is no longer offered through the MLS, these fees may still appear but have become more confusing, depending on how compensation is agreed upon and by whom.

When dealing with “minus fees” all parties — buyer, seller, listing broker and buyer broker — must understand the following :

Who is the agreement for compensation between?
If the listing brokerage continues to offer compensation to buyer brokerages and the listing brokerage charges a “minus fee,” this fee should be reflected in any compensation agreement between the listing and buyer brokerages.
Please note that a buyer brokerage can negotiate compensation offered from a listing brokerage. Especially when the minus fee may impact their buyer client financially, based on the compensation reflected in any written buyer representation agreement.
If the seller is offering compensation and that compensation is reflected in a contract to purchase, the agreement for compensation exists between the buyer and seller NOT the listing brokerage and buyer brokerage.
When a buyer and seller agree to a different compensation amount than what is reflected in a listing agreement, or a buyer representation agreement, the buyer and seller need to address that difference with their REALTOR® and attorney based on their contractual representation agreements. When in doubt, ask your attorney.
It is NEVER appropriate for a REALTOR® to change the compensation amount to add or remove a minus fee without the express written consent and agreement of the buyer and seller, since the agreement for compensation is reflected in their purchase agreement.

Section 7: Illinois License Law Changes

Illinois will also be following suit with changes to the Real Estate License Act of 2000, taking effect Jan. 1, 2025. All real estate licensees will be required to use written brokerage agreements when they act as agents for all types of real estate brokerage business, including with buyers in residential sales transactions, as required by the NAR settlement.

Continue to visit NAR’s website: nar.realtor/the-facts for the latest updates related to the settlement and how the practice changes may continue to shift our industry. Mainstreet REALTORS® is committed to ensuring that you have the most up to date information and tools possible to address the impact to your business and to the consumer.

Around the World and Back Again: Mainstreet REALTORS® Global Community Share International Insights

Wed, 18 Dec 2024 20:20:18 GMT

Mainstreet’s Global community met in late September to take a deep dive into the 2024 International Transactions Survey data. Afterwards, Mainstreet REALTORS® CEO John Gormley and immediate past President Tim Ryan reviewed their recent trip to India before Director of Specialty Divisions Ramona Ruskuls recapped the global resources Mainstreet provides its members with. The content from this webinar was designed for one purpose: “To Enhance Profitability Through Global Real Estate Trends and Insights.”

Being asked to speak during a Mainstreet REALTORS® webinar is always dynamic. Between John Gormley, Tim Ryan, Pradeep Shukla and Ramona Ruskuls it really is a who’s who of world travelers and real estate professionals. This past September we circled the wagons to examine the International Survey Data (click here to view the blog about it), what it means, find out what John and Tim learned during their trip to India and share highlights from my trip to Toronto with Ramona for REALTOR® Quest and the FIABCI USA Spring Symposium.

John and Tim left for India on February 24 and were gone until March 5. During this time, they spent their travels exploring two cities: Mumbai and Goa and attended NAR-India's annual conference. According to John, “the city of Mumbai is massive.” They did mention in the webinar that the travel times can be grueling so before planning a trip be sure to account for the time zone changes. It was not all fun and games for Tim and John because the real reason they were there was to strengthen the already robust partnership with the National Association REALTORS-India who Mainstreet shares a Memorandum of Understanding (MOU).

After John and Tim capped off their tales of business and memories in India, I took the lead in sharing my experiences about traveling to Toronto for Toronto Real Estate Board's annual conference, REALTOR® Quest. Canada has residents who love to travel and buy real estate in other countries just like the US does. In fact, Illinois is in the top ten destinations list for Canadian citizens to conduct real estate transactions. Fun fact!

We spent part of our time in Toronto touring commercial properties including The Well a unique and modern mixed-use development thriving with retail, office space and condos. The Well is an award-winning property and stands out in its design for sustainability but more than anything else we used this opportunity to network. International travel with an agenda is a balance of work and fun. The valuable connections you make while on a global networking trip are nearly impossible to measure. Reading LinkedIn biographies and following people on Instagram are great steps to initiate contact but meeting face-to-face leaves an impression only found while sharing a meal, a city tour or a cocktail hour in a foreign country.

For anyone who is looking for work in the international property arena, the Certified International Property Specialist Designation (CIPS) is invaluable. Of the 50,000 REALTORS® in Illinois only 118 of them have the CIPS designation. Less than 1%! You want to mention value proposition? Try adding CIPS so that discussion.

Click here to see Mainstreet’s Global Facebook Page.

Click here to visit Mainstreet’s Global resources page.

Click here to redirect to our course and events calendar to register for our next Global event.

Webinar will be available for viewing soon!

Mainstreet REALTORS® Earns Second Consecutive NAR Diamond Commercial Services Accreditation Award

Fri, 11 Oct 2024 20:20:17 GMT

National Association of REALTORS® (NAR) awards Commercial Services Accreditation to real estate associations who achieve a minimum of 16 benchmarks. In 2024 Mainstreet REALTORS® earned the illustrious Diamond accreditation status which requires 41 benchmarks, the highest mark possible.

Total benchmarks to earn NAR’s Diamond Commercial Services Accreditation: 41.

So yeah, we are awfully proud of our commercial members and they deserve the spotlight for this award.

There’s achievement and there’s overachievement. Mainstreet REALTORS® is proud to be part of the former and the latter. NAR Commercial Services Accreditation is for real estate associations who develop and maintain a commercial membership division. The quality of that division is measured by recruitment of commercial REALTORS®, retention of their membership and commitment to providing engaging commercial services to communities.

According to Google there are over 1,200 real estate associations in the United States. Of the 1,200+ associations a mere 19 of them belong to the NAR Diamond Commercial Services Accreditation in 2024. Which means Mainstreet REALTORS® commercial division is in the top 2% of all real estate associations in the U.S.

The significance of Diamond accreditation status, to put it bluntly, is considerably large. It shows our dedication to serving our members not just in the residential marketplace. Mainstreet REALTORS® commercial members are responsible for top producer numbers annually. Our strategic goal is to ensure all Mainstreet commercial REALTORS® have the resources, education and outreach they need to succeed in any climate.

The selection process for which association is awarded Diamond accreditation is lengthy because NAR has a 67-question application across seven sections that must be filled in. Each question represents a benchmark. To qualify for the lowest level of accreditation, 16 benchmarks must be successfully completed. A highlight from these benchmarks comes from the Legislative and Advocacy section:

“The association has an active advocacy program including local and regional commercial real estate issues and communicates their specific efforts to members on a consistent basis.”