Throughout my many jobs and experiences with bosses I’ve learned the best ones lead by example. They took me aside when I made a mistake and explained what I did wrong and how to change it. Most importantly, they showed me why it was important to do the process correctly. I saw the best bosses as mentors. I am always looking for mentors; mentors are the individuals who nurture talent and show others how to do it right because they are the leaders in their field.

Elizabeth Ballis is exactly what a mentor should be. A book can be written on her accomplishments. With more than 1,000 transactions and $400 million in business, it’s safe to say Elizabeth has been one of the best in business from the beginning. Elizabeth received the Chicago Association of REALTORS® REALTOR® Achievement Award in 2011.

My interview with Elizabeth was essentially a class on real estate excellence. What’s the secret behind the success of Elizabeth and The Ballis Group? Stick to the basics! We are always looking for the quickest way to get from point A to point B. Technology can make communications more immediate but a lot less personal. Elizabeth told me she still has actual conversations with people. Remember those?

Pick up the phone and talk to your clients and the agents during transactions. It’s amazing how much can be lost in translation when your message is read vs. heard. Take a step back and remember we are in a people business. Speaking to someone who has been a real estate leader for more than 30 years really opened my eyes and re-invigorated my outlook on how to run my business.

It’s too easy to quickly hit “reply” these days. It’s still important to carry a personal brand/image, and by getting lost in the world of online communication it is your brand that suffers most. Enjoy this interview with our latest YPN Mentor. I hope you take as much as I did from one of best in our field!

1.     You have been successful in the real estate industry for more than 30 years. What have been some of the most significant changes you've witnessed?

When I started there was no Internet. Listings were delivered weekly in large books. There were two multiple listing services so we had to put listings in twice if we had condos. Fax machines were not yet used on a day-to-day basis, so things moved much more slowly. Cell phones were as big as a brick.  

Clearly, things have changed. I think the most difficult thing for those of us who have been at it a long time is that we are used to verbal interaction. I wish we had more conversation with our colleagues because I believe not everything is best handled with e-mails and texts. It’s become a lot harder to have a “life” these days. In our business we are now expected to always be available. There is a lot of pressure to push out one more e-mail or make another call before calling it quits. Unfortunately, 9 to 5 is an alien term in real estate. I find it’s a lot easier to get burned out now if you don’t handle your business in the right way.

2.     You used to own your own brokerage. What made you decide to merge with Coldwell Banker?

Different personalities need different things. There are some people who want to do their own thing and have full authority to make all the decisions in running a business. I started my company and did so for 11 years. I really preferred not to deal with administration. I wanted a company with great presence where I would have every available resource to grow my business. Having all of the newest tools, as well as educational opportunities, has been critical to my growth and success. A bonus has been the ability to create relationships with agents throughout the suburbs. Many opportunities have come out of sending and receiving referrals.

3.     What does it take to be a top broker in Chicago for more than 30 years?

Be focused on your clients so that they don’t feel you just care about a commission. Build long-term relationships. My clients know they are a priority no matter what price property they are buying or selling. Go “above and beyond” to make their experience a good one. Don’t disappear when the contract is written. Be sure to communicate every step of the way. Remember to stay in touch after the closing. One of the most powerful ROI activities in my career has been focusing on my network of past clients. The clients you close can become your biggest fans, and if you create a web of fans you will never have to look for new business again. Referrals are gold in our business, not only because of the fresh leads aspect but because the probability of the referral committing to using you is very high. As we all know, this is half the battle in the beginning stages when working with a new lead. Focus on your network and it will pay you back over and over again. Make sure to get testimonials from all of your clients and save them. Testimonials are great to bring out on listing presentations or when winning business in general.

4.      What are your tips to market yourself effectively as an agent?

At the end of the day you are marketing your reputation. The important thing to remember is that every transaction can become a future referral source. As an example, 12 years ago I helped a client buy his first apartment. When he married (coincidentally another of my clients), I sold both of their condos and helped them buy and later sold their townhome. He became a developer a few years ago and is now my biggest client. We just sold his first three high end homes, have another under contract and three more in the pipeline. The focus of your marketing efforts needs to be unique and circled around building relationships and your reputation. This is a winning strategy in any marketing effort.

5.     For someone just starting in the industry what are you top pieces of advice?

Grigory Pekarsky, C.A.R. YPN Immediate Past Chair

Managing Broker/Partner, Vesta Preferred Realty

- Improv takes you out of your own mind and helps you see the world through someone else’s eyes.

- The goal is collaboration, not competition. What a great way to approach interacting with your fellow real estate agents: working from the premise of collaboration rather than competition!

- Although it may be uncomfortable -- and slightly fear-inducing -- to look someone in the eyes, try it! Piero, our Second City instructor, stated: “I’ve found when you do little things like that to conquer your fears, you see it affecting the rest of your life.”

- Practice active listening. When another person is talking, most people spend time formulating their response instead of actively listening to the speaker. If you tune out too soon you miss a lot, as people tend to save the REALLY important information for the end. Worse, you may not only miss what they are saying but assume they are going to say something they never do.

- Saying no to things can keep you safe but also has repercussions. You miss out on experiences.

My favorite take-away from the event, in regards to collaboration and giving everyone’s idea a chance, is a quote our instructor passed along from an anonymous previous attendee: “I don’t have to love every idea. But it helps to try and love every idea for a little bit.”

For more information on improv and business, read the article in the Spring Chicago REALTOR Magazine.

Click here to see photos from the event. Click here for upcoming YPN events.

Jessica Kern

C.A.R. Marketing Communications Manager and staff liaison to YPN

My maternal grandfather came from Sicily through Ellis Island and made his way to Chicago with his family, where they worked long, hard days for modest rewards. My paternal grandfather never made it here from Cuba but my dad arrived under harrowing circumstances, with mother and sisters in tow, and a huge responsibility ahead of him. No matter their disparate beginnings, both branches of my family arrived with dreams and not much else.

What they accomplished – building businesses, raising families, nurturing communities – was impressive to behold. Their sacrifice and perseverance is what gave me all the opportunities I have had, the value of which is immeasurable. And all their lessons were taught to me in the one place that matters most: home. So how I honor them, how I carry their dreams forward, is what I do for a living; I make sure all my clients find the perfect place to call home. For me, there’s really no better way to make a dream come true.

Carmen V. Rodriguez - Broker Associate, Coldwell Banker Residential Brokerage

Jennifer continues a legacy of Chicago real estate excellence. Her great-great-grandfather was Gold Coast developer Nathaniel Fairbank and her step-grandfather is Louis C. Sudler, Sr., founder of Sudler & Company Real Estate. Real estate runs through her blood and it shows. She entered the field in 1994 and since 1997 has been recognized annually as a Top 10 REALTOR® in Chicago. Since 2003 the Jennifer Ames team has closed from $50 - $85 million every year.

Jennifer understands the importance of giving back to her community. She regularly volunteers her time to different organization and causes; currently she is a member of the Board of Directors of the Lincoln Park Zoo and the Auxiliary Board of the Art Institute of Chicago. Take a moment to gain some invaluable advice from one of our industry’s finest!

Me: How did you know real estate was the right profession for you?

Jennifer: My mother was in real estate and she always told me that it was the right fit for me. However, before getting into real estate I tried out a few different paths. First I was an investment banker and then a film producer. I have a very creative mind, which has helped me in real estate tremendously. With my mother’s persistence I came over to give real estate a shot. I’m a multi-generation Chicagoan and feel a bit of an ownership toward our great city. My grandfather started Sudler & Company, so real estate has been in my family’s blood for a long time. My first year in the business I was honored as a Rookie of the Year and my second year I was Number Three in the city for volume. I quickly knew that this was the right profession.

At the time I started, REALTORS® were still using the large volumes that carried all of the listings available on the market. However, it was also the time of the great transition from the listing tombs to dial up/online. Some weren’t ready to evolve with the changing times but I was beyond ready. I worked and still do work really hard every day, with my nose to the grindstone. Fifteen years of being one of the top producers in the city is proof that hard work and consistency are a winning combination in this industry.

Me: You are one of the most well known and respected names in Chicago real estate. What are your top tips for building a name/brand?

Jennifer: Branding and marketing are among my core passions. I have been a national speaker on this topic for some time now. I always start with making sure people understand that differentiation is key. What makes you different? Also, you have to be specific; it is impossible to be all things to all people. You will end up being nothing to anyone. You have to really think about who you want to be. Having a brand focus on architecturally significant homes is an example of a strong focus on a niche market. That is the kind of focus and differentiation that could make you somebody in a big field.

It is important to remember that your brand doesn’t have to be the real estate you sell. It can be just you. What are you passionate about? That is the best way to think about it. Your passion can very well be your brand. When I had children, I started blogging about raising kids in the city. I grew my network and built my reach by connecting with similar-minded people. Your brand has to be real, one that people can trust. Stick with what you know and what you are passionate about. Focus on that.

Me: What is your best "lesson learned" from your experience?

Jennifer: Respect for peers! Clients come and go but we need each other, our fellow REALTORS®, more than anything else. Work cooperatively, help each other get better and lose the combative attitudes. Our industry is an arena of emotions; we work with clients in stressful situations. We need to work together to get the deal done, that is the spirit with which we have to engage. Be gracious and respect each other’s time. Return calls and give feedback. Never take things personally. Act as a buffer in the transaction; don’t add more drama and emotions. Oh, and remember to articulate yourself in messages!

Me:  What is a winning strategy in 2012?

Jennifer: Continue to refine your systems. At the end of last year I went through all of my files and paperwork. I organized everything and got it all in order. I wanted to start 2012 fresh and clean. I’ve decided to go to bed earlier and keep to my schedule. I will improve my communication with clients and focus more on my branding and advertising. A main focus for everyone should be customer service. Give people a reason to understand why you are the best.

Have to balance in your life. Balance creates clarity in where you are going. My balance is going to come from playing with my kids more!

Me: What are the major building blocks of success in this industry?

Grigory Pekarsky,

YPN Immediate Past Chair and Managing Broker/Partner, Vesta Preferred Realty



In 2009 The Obama Administration introduced the Making Homes Affordable (MHA) program, established to help struggling homeowners. In 2010 the Home Affordable Foreclosure Alternative (HAFA) was implemented for non-Fannie Mae and Freddie Mac loans. Now, on June 1, 2012, HAFA will implement changes beneficial to homeowners -- especially investors in 1-4 unit residential properties.

Here's a summary of the changes: 

The Chicago Association of REALTORS® has several programs to help you use HAFA to grow your business. Join us to learn the basics at the afternoon session of Member Outreach on April 10. Or, enroll in an education course including the Accredited Distressed Property Representative (ADPR) Certification Program, Home Affordable Foreclosure Alternative (HAFA),  Broker Price Opinion Resource (BPOR) and the Short Sale and Foreclosure Resource (SFR). All of these address current changes in foreclosures and short sales.

 Marki Lemons, ABR, ABRM, ADPR, CRB, CRS, Green, e-PRO, CNE, CDEI, e-certified



The numbers of his team, the Mario Greco Group at Prudential Rubloff, are tremendous. His Web site states: “I ended both 2009 and 2010 as the #1 full-service REALTOR in the entire city of Chicago, selling over $225 million worth of City real estate in 2009 and 2010 combined.” The Mario Greco Group ended 2010 rated Number One statewide and Number 40 nationally by The Wall Street Journal & Lore Magazine’s Real Estate Top 400.

Mario’s focus and specialty is not only real estate but building an effective system behind the selling process. His team of about 20 members has a very well defined and strategic process. Mario has formulated an effective and highly efficient method of selling and representing his clients and their properties. Being a systems guy myself, I was excited to get some one-on-one time with Mario so I could pick his brain. His advice is powerful and can be used by each of us. Enjoy!

Me: You have a 17-member group that handles every step of the sales process with high efficiency and effectiveness. How did you formulate your workflow process and perfect your system?

Mario: Almost by trial and error. I have an eye to do things more efficiently. I want to find ways to do less of what I don’t like to do in an effective manner. I might not like doing a certain part of the process but it still has to get done. So I formulate ways to make it happen with less of my immediate involvement. At the same time, I always focus on taking care of my clients as best as possible. As I grew as a REALTOR and my business kept growing, so did my process. You have to let growth happen organically. At every step of growth I gained experience and with it better knowledge to perfect my craft. I was able to find ways of becoming more efficient. Also, I hire very carefully. You have to have really good people working for you.

Me: What separates the best from the average in real estate?

Mario: In no particular order:

- Work Ethic – This is a 7-day-a-week job and more so a lifestyle than a job. The REALTORS who get that are the ones who succeed.

- Knowledge of market/neighborhood trends- You have to know your product inside and out.

- Strong systems – You have to have a rhythm to the madness and an efficient and effective formula behind your work flow. Work smart, not only hard.

- When you meet a client you have to be able to strike up a natural connection and interaction. You have to be likeable! We are in the people business, so we have to be good at interacting with people!

Me:  Where is the opportunity in 2012?

Mario: We will have to continue to set the right expectations with clients. This is why knowledge of the market and neighborhood trends is so critical. We are the ones who have to know what price will move specific properties. We have to represent our clients honestly and effectively. Sometimes this means delivering news they don’t want to hear. If clients are not willing to face the facts and demand to list at the price they want, rather than what the market is calling for, it might be better to turn down the listing. Set expectation from the beginning, it is better for everyone involved in the transaction. Also, rentals and short sales/foreclosures are hot right now and will only get hotter in 2012. Become versed in these fields and you will grow your business as a result.

Me: Why do people fail in real estate?

Mario: A combination of not having some of the traits I listed in question number 2:

- If someone is not good with people and connecting in a natural way.

- Not working smart! It is not enough to work hard, you have to be working with a strategy behind the madness.

- Don’t get the right knowledge of the market. This is a recipe for failure; you should always be setting expectations!

- Don’t invest in your business, not only monetarily but with planning. You should always be looking forward to the next step and planning for it.

- New agents or agents who plateau sometimes expect too much from their brokerage. Some agents depend too much on their family/friends for business and not on growing their opportunity/client base. This should be a daily push.

Me:  What are the top three most important things to remember when trying to grow your business?

Grigory Pekarsky, C.A.R. YPN Past Chair and Managing Broker/Partner, Vesta Preferred Realty

Welcome from President Bob Floss

- It’s tough going for agents these days – and we know it! You are not alone. Your association understands your reality and is here to provide the tools you need.

- REALTORS® assume that their ability to practice relatively easily in Illinois evolved naturally. It did not. The IAR Political Action Committee is a watchdog for our industry. Last year in Chicago alone, RPAC influenced two significant pro-real estate changes to proposed city housing ordinances. Please support RPAC with an annual contribution of at least $20.

Illinois Real Estate License Law Transition

- REALTORS® who fail to complete all aspects of transition by April 30 will not be licensed to serve clients. Act now. Get information and the courses you need through the C.A.R. REALTORS® Real Estate School.

Chicago REALTOR® Opportunities

- Networking is a key benefit of C.A.R. membership. Take advantage of our professional groups, including the C.A.R. Young Professionals Network (open to all ages!), Global Real Estate Forum and CommercialForum.

- Dive into our new FastStats program! A more in-depth version of “The Thing,” which you may know from MRED, FastStats offers a variety of up-to-date Chicago and neighborhood reports exclusive to Chicago REALTORS®. Use them for marketing your expertise to clients, in your newsletters, on your Web site and in personal meetings.

What Does Cloud Computing Really Mean? Tech Tips from C.A.R. Director Matthew Farrell, Urban Real Estate

- “Cloud” technology is the concept that all of your mobile and computer devices can be tied together through the Internet.

- Cloud computing dramatically expands your ability to incorporate tech tools into your daily business life.

- One program, Dropbox, enables you to access all your business documents from any computer or mobile device, including your smartphone.

- PDF Expert, an iPhone application, is awesome because it allows you to edit documents in a way that’s generally not do-able on PDFs. You can add in client signatures, for example. Combine PDF Expert with Dropbox and you’ll be prepared to service clients from anywhere with Internet access.

Broker Panel: What Matters Today

A four-member panel of brokers local to Skokie joined us in the morning and a panel local to Oak Lawn in the afternoon. Each discussed points they consider critical to REALTORS® today, including:

- It’s a great time to be in the business. Clients definitely depend on REALTORS® to help them negotiate today’s market. There are many opportunities for REALTORS® who are willing to work hard.

- Professionalism and the importance of policing our industry. If you encounter a problem with another agent, go first to your broker. Chances are, it can be talked through and successfully worked out. If not, file a complaint and strongly consider mediation before arbitration.

- Social media is an excellent tool for expanding our communications and prospecting capabilities. Don’t let it detract from your face-time with clients, though. In the end, our work is more about people than real estate.

- When you go home, set work aside. There are exceptions, of course. But generally, it’s important to maintain a work-life balance.

Member Outreach meetings are part of CAR2U, our member benefit program to bring information, tools and services where you need them. If you have questions about any aspect of this program, please contact our Member Care staff at 312-803-4900.

Replacement-cost policies are generally most effective, meaning they cover what it would cost to rebuild a home and replace homeowner belongings. Replacement policies don’t cover all losses, however. Detached parts of a home, like garages, may not be covered, and jewelry or other luxury items may not be insured without a rider. It's important for homeowners to know their policies and adjust them as their lifestyles change.

It's also important to avoid the mistake of underestimating the dollar-amount of coverage. The cost of increasing the dollar-amount is generally low and can dramatically improve the extent of coverage. What's key to selecting a dollar amount isn't the value of a home, but what homeowners would have to pay to rebuild it from scratch. Anything less may leave them uninsured.

Remind your clients to read their policies carefully and be sure they still fit their needs. They can look for ways to reduce their payments, too, such as discounts for installing security systems, dead-bolt locks and fire detectors.



 Renting-to-own is the perfect strategy for some home buyers and sellers. What’s essential is creating a good contract that covers both parties’ needs.

Renting-to-own a home works like leasing a car: renters pay a set amount per month and at the end of a given time period -- usually three years -- they have the option to purchase the house.

For sellers, advantages include locking in an established sales price, having responsible renters, and being able to move on with their lives and potentially buy a new home. For buyers, advantages include a trial period on the house and community before fully committing to buy, and having time to solidify credits scores and save toward a home purchase.

Renting-to-own also can present pitfalls for both parties, which is why it’s important for clients to involve a REALTOR and a real estate attorney. Agreements should cover all bases, including who’s responsible for home repairs, and next steps if there’s a problem with the existing mortgage.

If an agreement effectively addresses these and other points, consider renting-to-own as a great option. 

When I calmed down my ADD and focused on the task at hand, my interview with Abe proved to be enlightening.

Abe has been a licensed Illinois REALTOR® since 2003 and is also licensed to practice in Indiana and California. Since that time he has listed 1,530 properties and his sales have amounted to more than $150 million. One of the most interesting aspects of his work is that Abe has found a successful strategy for operating in Chicago and California. Imagine creating a powerful business strategy that would also enable you to go to California during a Chicago winter. Since a dream of mine is to do just that, I grabbed a few bits of juicy information on how he has been able to do so. I also got a scoop on how he became Chicago’s REO King. Hopefully you will find his interview as informative and useful as I did!

Me: How did you become so effective in the REO side of the business?

Abe: It was the case of “the right place at the right time.” When I started doing REO listings, it was not such a hot topic as it is today. This allowed me to establish relationships early on; I was able to plant the seed. When the market turned I was the first one in line to get the business. I saw a need for proper REO representation, for which back then there were not many options.

(Greg’s side note: Abe’s approach is to take the road less traveled. Find a niche that you are good at and not many people are focusing on and become the best at it!)

Me: When starting your company Great Street Properties, what were some of the challenges you faced and how did you overcome them?

Abe: As a business owner I sometimes feel like that guy in the circus who is spinning all of those plates at once and you can’t let any of them fall. At the same time as trying to grow my client base I also had to assume the responsibilities of a business owner. I’m responsible for everything, including HR, accounting, marketing, office repair work and hiring. I have always been one to seek advice from mentors. That is what I did; I got together with more established business owners and sought their guidance. I also found mentors to bounce ideas off of. I didn’t know everything there is to know about running a successful business. None of us starting out do. Seek guidance and don’t try to reinvent the wheel. Long hours and hard work are essential.

Me: Your company now has branches in Chicago, Schaumburg, San Diego, Calif., and Highland, Ind. What are your tricks for staying organized and using your time wisely?

Abe: Leverage the right technology, hire the right people and work hard! It is not difficult to be successful; the recipe for success is focus and hard work. I was working 100 hours a week. I came to the office at 6 a.m. because I knew no other REALTORS® would be up at that hour. I can get a lot of work done when other people are sleeping and not calling or e-mailing me. I also divide my hours appropriately for maximum effective output.

Me: For an agent interested in getting into the REO side of the business, what are some key points for creating an effective strategy?

Abe: The REO business is a mature niche now. Experience is critical! It’s always good to put the fundamentals and academia behind it, but nothing beats real-life experience. Work for an REO broker and learn the ropes. Also, be prepared with capital to back your business. Study where the most REO listings are, and where you enjoy spending your time. I have an office out of San Diego not only because there are many REOs but because I enjoy being there. I am more productive if I like where I am working and you will be, too! Simplify and automate as much as possible. Diminish the learning curve so that you can train quickly and get your staff up and running in as little time as possible

Me:  What separates the best from the average in our business?

Grigory Pekarsky, 2011 C.A.R. YPN Chair and Managing Broker/Partner, Vesta Preferred Realty