2022 began and my team hit the ground running.
We were busy, busier than ever, working in one of the most competitive markets we’d ever seen. From January through April, it seemed as if every property received multiple offers, and we grew so used to the buzz words: “all cash!” and “escalation rider” and “no contingencies!” Our sellers held all the cards, while our buyers did whatever they could to win the bidding wars.
Something had to give.
As spring turned to summer, interest rates rose higher and the market got tighter. My inbox quieted down. Soon, it was if Chicago real estate was just… on pause.
What is happening? I wondered. Will this last?
I was expecting my second daughter in September, and our family had just recently moved to a new home in the city. Worry began to creep in. There were many nights I stayed up way too late, tossing and turning and talking to Andrew about my fears. The market conditions were out of everyone’s control, but what could my team and I do during this sales slump?
As a group, we learned about financing options to “buy down” interest rates. We followed-up with clients. We listened. We coached. We offered honest answers, as we always do.
Meanwhile, I read Shift by Gary Keller (and would recommend it!). I brainstormed with Sarah and responded with an enthusiastic “yes!” to all of her creative ideas. I kept on teaching webinars. I tried my hardest to trust God with all things… including the market.
There is a season for everything in life and in real estate. It took a few months of back-to-basics lead generation, but by late fall, we resumed familiar rhythms at M&Co. Remarkably, we’re starting 2023 with our best January ever for upcoming closings — this is a team accomplishment that I’ll never take for granted.
When I started out in real estate, I knew that I was signing up for a career chock-full of ups and downs. 2022 most certainly exhibited this. M&Co. had many highs this year:
- Finishing with $53 million closed and pending (a record!)
- Representing 100 amazing clients on 100 transactions
- Securing our spot in the top 25 city teams
- Adding two new team members (Monica and Sarah!)
- Landing a magazine cover feature
- Rebranding 🙂
- Collecting school supplies and donations for our backpack drive
- Launching our first-ever “So You Want to: For Agents” course
- Invited all of our beloved clients to pick-up a treat at Firecakes Donuts (yummm!)
And yet, we also had challenges, from the high-stakes multiple offer situations to the dramatic swing from a seller’s market to a buyer’s market, for starters.
Through it all, I wouldn’t want to be navigating this crazy industry with anyone other than my team. I am really, really grateful for their hustle and commitment in 2022 — and I can’t wait to see what comes next in 2023 for Melanie Everett & Company!