Q: Tell us a bit about the Domain’s new website and everything you can do with it.
A: We’re excited about our new updated website! It incorporates our new logo and graphic design aesthetic as well as a much better user interface. It’s definitely more modern and in line with what we’re about as a company. The property search capabilities and functionality are so much better.
Q: What excites you the most about Domain’s growth in 2019 and the future?
A: We recently acquired another real estate brokerage that specialized in leasing and management of single-unit condominiums — privately owned, one-off units in condo buildings. We were already heavily focused on this segment, so it was a natural fit to grow our existing portfolio.
Our solution solves a common problem. We have a lot of clients who are young couples that own one or two condos in the city. After they get married and have their first kid, they inevitably outgrow their space and either want to move into a bigger home or to the burbs. Oftentimes, the timing of these life moves do not coincide with the real estate market. This was certainly true during the GFC in 2008-2010. A lot of our clients had condos they could not sell without taking big losses, so they chose to rent them instead.
“Even in a seller’s market, there are many compelling reasons to hold on to your condo. … You already own the property, so let us help you get a tenant in there and manage the unit so it is truly “hands off.” Let the tenant pay down your mortgage while you get a good tax write-off.”
Q: What are the primary reasons to hold on to your condo these days?
A: Even in a seller’s market, there are many compelling reasons to hold on to your condo. A lot of neighborhoods still have further to go in terms of price appreciation potential, and you don’t want to lose out on those gains. This is certainly the case in my neighborhood, the West Loop, for example. A lot of people want to get into real estate as an investment somehow, and this is one of the easiest ways. You already own the property, so let us help you get a tenant in there and manage the unit so it is truly “hands off.” Let the tenant pay down your mortgage while you get a good tax write-off.
We also manage a hand-picked portfolio of multi-unit and multi-family rental properties. We tend to be very selective on neighborhoods and the properties. If you can’t tell, we’re pretty excited about our expanded Property Management division.
For more information on buying, selling or property management, contact Adam at his staff at Sales@DomainChicago.com