This week, Laura & Heather are joined by Baird & Warner Real Estate Broker, Dan Nelson. Dan loves houses and has spent the last twenty years running a real estate company with his wife. Dan uses negotiating skills, market analysis, and his vast understanding of buying and selling property to help people find homes they will love. Reach Dan directly at 312-477-9594.
“I want every experience with my clients to be a great experience. It’s so fun to get in there, pick a house and see your life change.” – Dan Nelson
Listen to Episode 108 with Dan Nelson!
Here are some references from Episode 108 that you may want to check out:
- Dan grew up in Fort Wayne, Indiana and went to school at Wichita State. He was tired of living in a community where chain stores were the norm, so packed up his car and headed to New York City for three years. Upon visiting a friend in Chicago, he discovered he much preferred this city!
- Dan has a secret talent as a longtime poker player, and earned a lot of money a few years back during a big poker boom in which, “all these people were playing poker for the first time in their lives.” He and his wife decided to use the money toward flipping houses, as his wife had discovered a passion for rehabbing homes when she undertook the task of doing theirs.
- Dan often looks to engage with other real estate agents to “tip their hand” and find out how desperate the seller or buyer is to sell or purchase the house. He finds his poker skills come in very handy here and can often get the other agent to disclose.
- Interest rates right now are the lowest they’ve been in a long time with 2.4-2.9% rates and they may be above 4% again by this time next year.
- Dan currently has his customers wear new gloves each time they enter a new house, and is careful to keep 6 feet distance at all times. He says it’s been difficult to navigate COVID-19 clauses in contracts which state a buyer or seller can walk away at any time for any reason.
- Right now, agents don’t show up to closings, and truly, everything can be virtual right now. There is more of a delay when it comes to the loan process especially, since everyone is maintaining less hours in general.
- Dan says the biggest change he’s seen is potential buyers are no longer able to show up with their entire families to check out a property they are considering. He’s tried to prepare the client as much as possible (buyer or seller).
- Because of his knowledge flipping houses, Dan has a very long list of subcontractors he’s able to provide to his clients as he coaches them through potential home upgrades they could do with a property under consideration.
- Dan recalls the worst property renovation he and his wife ever did: they purchased a property in Ravenswood, and all electrical, all plumbing, all flooring had to be replaced. They did almost all of the work themselves, and did not have a good experience with they contractor they did hire. “It was a terrible, terrible experience, but also a great experience because it taught us how to handle things like that.”
- Qualities that make a good real estate agent according to Dan: “You have to like to help people and it’s hard work, I work all the time.”
- Dan’s wife does home staging! So, working with him guarantees a great staging and home presentation. Dan also comes ready with a team of contractors, lawyers, plumbers etc, that he can draw from.
- For those looking to get into real estate, there is a test to pass, and it’s gotten much harder. Many of the things that come up on the exam don’t come up in real life, but the most important thing is to choose the right office where a team is available for coaching and guidance.
- Dan is affiliated with Baird & Warner. He likes working with a big company for the resources and team members connected, including marketing, technology, etc. He thinks it provides a great support system. The real reason Dan chose Baird & Warner, though, is because they were the first real estate company that fought to change Chicago’s horrific history of housing segregation. He feels they are providing great education and equity training around the current Black Lives Matter movement, as well.
- Had he not fallen into real estate, Dan probably would have continued in the IT field in which he started.
- If given the opportunity to trade places with an Andersonville business for the day, Dan would switch with In Fine Spirits.
“The market is as hot as it’s ever been – it’s crazy hot. As long as you’re comfortable selling now, we may not see this happen again for a long, long time. Interest rates are so low.” – Dan Nelson