Shift in Real Estate Industry Propels Local Agent to Top

Online, February 20, 2013 (Newswire.com) - Fox Valley homeowners are well aware of the real estate bubble that burst back in 2007. A lot of residents have seen the value of their home slip in recent years. This, along with other economic forces, has led to bankruptcy for some and seeing a valuable asset underwater for others. The result of this being foreclosures and short sales making up a bigger chunk of available real estate year after year.

While a lot of Realtors in the tri-cities saw steep drops in production as a result of this shift, those agents that were prepared for it have leveraged it to their advantage. The Kombrink Team at RE/MAX Great American North in St Charles, Illinois has indeed made lemonade out of lemons. By studying the short sale process, meeting with asset managers from local banks, and continuing their education to obtain knowledge of this new landscape they were able to help local homeowners in distress.

According to Matt Kombrink, Team Leader for The Kombrink Team, short sales and foreclosures now make up over 55% of their business. "It's definitely been a learning process," says Matt. "Over time we've come to learn what to expect from the individual banks and asset managers. Now we're able to help these distressed homeowners get out from under this burden in a more efficient way. It's no fun to learn you're underwater on your mortgage, but meeting with a prospective seller to explain they have options puts their mind at ease."

As a result of The Kombrink Team's continued success with this new real estate trend, they have been selling more homes than ever. At the recent awards banquet for RE/MAX of Northern Illinois, they were ranked the #1 Team for units closed for 2012. The Kombrink Team closed on 380 properties in 2012, 58% of which were short sales and foreclosures.

"The impact of all this has obviously been that we're seeing home prices drop," says Matt Kombrink. "But eventually prices will level off and the market will regain some stability. While that's not great news for local homeowners, it should ensure we don't have to go through this again."