Guess Who Made the Cover?

I made the cover of the Chicago Agent Magazine! Here it is!

Check out the link below for more details!

http://chicagoagentmagazine.com/current-issue/vol-8-2011-2/field-guide-to-fixing-the-industry/

F.A.Q. (Real Estate) What do I need before I purchase?

Home Is Where The Heart Is!

As a Real Estate Agent, it my job to assist people in finding their DREAM HOME! Just want to give you some advice before beginning your search.

When one decides to buy a property these are the three most important things to consider FIRST!

1. First decide what you want. Single family home? Condo? Townhome? 2 to 4 flat? Commercial use?

2. How will you finance this purchase? If you are purchasing with cash, you will be required to present a bank statement or proof of funds statement that indicates sufficient funds to cover your purchase. If you are purchasing with a loan, Have you been pre-approved? If so, you will be required to present your pre-approval letter (dated within the last 60 days) to your agent. If you haven't been pre-appproved, your agent can refer you to a loan officer. 

3. How soon are you looking to purchase? If you have a specific date, you should begin your search between 30-45 days before that date.

If you would like a real estate consultation, feel free to contact me at cara.walker@cbexchange.com or visit my website at www.coldwellbankeronline.com/carawalker

F.A.Q. (Real Estate) : What's the difference between an Agent and a Broker?

 What's the difference between an Agent and a Broker?

There are many terms that are used for Real Estate Agents, just to clarify a few terms....here goes

Agent/Real Estate Agent- generic term for any person that holds a real estate license that is allowed to assist in the purchasing of a property including residential or commercial.

Leasing Agent- Any person that holds a leasing license. This person is allowed to assist in leasing/renting properties including residential or commercial.

Realtor - is a trademarked name by the National Association of Realtor. An agent is only considered a realtor if and only if they are a member of the national association of realtors (which includes fees for membership)

As a real estate agent, there are 2 categories including: (This is before the license law is effective in 2012)

Salesperson (2012 will be Broker) and Broker (2012 will be Managing Broker)


Real Estate Salesperson- this term is now being phased out by the state of Illinois. It describes any person holds a real estate salesperson's licence which allows one to assist in purchasing real estate but NOT allowed to manage a real estate agency also known as a brokerage. So in 2012, there will be no salesperson only broker and managing broker.

Broker- In Illinois, this is the term that will now replace the "salesperson" term. A broker was once a real estate agent that is allowed to assist in the purchasing real estate AND allowed to manage a real estate agency/brokerage, but because of the new license change, the title definition is that of the salesperson. So instead of holding a salesperson's license, an agent will hold a broker's license.

Managing Broker - Pretty much self explanatory a real estate agent that holds managing broker license. This allows them to manage or own a real estate agency/brokerage.

That is all I have for now........

F.A.Q. (Real Estate): What do I have to do to be a Real Estate Agent?

"To be an agent" or "not to be an agent", that is the question!

 I've run across a couple people that are interested in becoming a Real Estate Agent but don't know where to start. They always ask "What do you have to do to be a Real Estate Agent?  So....here it is!

Disclaimer: Education requirements vary by state. The following info is for Illinois only!

Before beginning you must meet the minimum requirements;

You must be 21 years of age

Have a high school diploma or equivalent

If you meet the above requirements, you can register for real estate license class. 

These classes are offered at many locations but here are a few: 

Chicago Association of Realtors - of course this is limited to Chicago and surrounding cities. They offer fast "crash" live classroom courses, weekend and night live classroom courses. http://www.chicagorealtor.com/displaycommon.cfm?an=1&subarticlenbr=72

Real Estate Institute- limited to Illinois. Offers self study and live classes. This is the school I attended, I opted for self study. You register online, books and testing materials are sent by mail and you take the unit exams online, then you take the class exam at your nearest school location. You have six months to finish the class. My personal opinion, if I were to do it again I would opt for a live class. It was so hard doing self-study!

 http://www.instituteonline.com/

AHI Real Estate and Insurance Services- Classes are offered all over the US. The classes are offered as live and/or online. I have attended this school for live class room continuing education (after getting my real estate license) courses. The instructors are very knowledgeable! 

http://www.ahice.com/default.aspx

After successfully passing the class, a transcript will be issued to you. This transcript will grant you the ability to take the national and state exams. 

Here is the big secret, the classes offered do not thoroughly prepare you for the national and state exams. You have to pay a testing fee every time you take the test, most people don't pass on the first try. So....to save you a little money and headache I suggest you find alternative studying materials in conjunction with your classroom book. Here is a couple study methods I used:

Real Estate Exam for Dummies! I bought this book on www.ebay.com at a deep discount. This book was very useful because it has practice exams and focused subject material. This helped me because as opposed to studying the entire book, I could focus on concepts and read about them thoroughly. Great Study Tool!

Barron's Real Estate Flash Cards!  I bought these on www.amazon.com. These were excellent, it comes with close to 500 flash cards with real estate concepts and terms including easy to read explanation of the answers. The box include a metal ring, which was very useful for me because the cards I knew I needed to focus on, I would slide on the ring, slip it in my purse and study whenever I had spare time during the day! I really liked the fact that the questions were worded very similar to the questions on the actual exam.

Applied Measurement Professionals were the administrators of the exam, so I mozied on over to their website http://www.goamp.com/testingServices.aspx, did some research and found out they offer a practice exam! You can't get any better than that! You are able to set up an online account take the practice exam , review your answers which always includes a thorough explanation. 

The best advice for the exam is to have thorough knowledge of all concepts. This exam is nothing like tradition school. You know, where you can pass the test by knowing the term and the definitions! Not like that at all, you have to know the concepts and be able to apply them to different situations. 

The National exam includes 100 multiple choice questions. The Illinois State Exam includes 50 multiple choice questions. You must read the question and all of the answers, because most questions included two possible answers but you have to choose the best!

After passing your exam, find a real estate agency and Voila! You are an agent!

There's No Place like........Chicago

Hi, thanks for visiting my blog. Even though I have avoided blogging for a very long time, I finally caved in because I saw a need to share my experiences. Life is pretty entertaining and everyday is a different story! So let me tell you a little bit about me......


I was born and raised on the Southside of Chicago. I am my mother and father's only child! Yes, I am spoiled, but not in the way you think! I don't get everything that I want, never have been much of a materialistic person! But nine times out of ten, I get my way! Because I have always gotten my way, I believe this is the main reason why I am very determined! When I set my mind to something, that is IT! My seventh grade teacher used to call me "oak tree", and as you can imagine I am a little stubborn, but we have flaws!

For elementary school I attended Evangelical Christian School from Kindergarten to Eighth Grade, (where I graduated Valedictorian, *wink, wink*). During High School, I attended what is now Gwendolyn Brooks College Preparatory Academy. It was named Southside College Prep, when I first began. I joined the Army National Guard and completed basic training between my Junior and Senior year in high school. I completed my BS in Business Administration At Southern Illinois University at Carbondale. After school, I moved back home to Chicago and became a Real Estate Agent.

My passions in life are people and business. I love meeting new people, learning new things about them and exchanging info with them. As an only child, I always enjoyed the company of others whether it's small social gatherings or big crowds! Business really excites me! Motivation and Inspirational stories keep me pumped! I love hearing of someone that is doing something positive! Keeps me smiling!

The purpose of this blog is to inform and enlighten! I realize many people have many questions regarding real estate but are hesitant to ask! So I will answer many of the common questions that I hear all the time. I consider myself a solutionaire, priding myself on finding and sharing useful info to those in need. I have a wealth of knowledge that I have accumulated from different people and experiences. I would love the opportunity to share my journey with you to hopefully inspire, motivate and give you insight on any questions or concerns that may be useful to you (and not just Real Estate). So sit back and enjoy the experience!

If you are interested in purchasing or renting in the Chicagoland area feel free to visit my website at www.coldwellbankeronline.com/carawalker

Special thanks to Jakina Ado Photography for providing the photo, check out her tumblr http://jakinaado.tumblr.com/