Let’s forget for the time being all the work the agent does to get that house sold, all the knowledge and skill she provides or how much money she invests in marketing and advertising that house (which comes out of her own pocket). The point of this article is to explain who gets that 6% commission* (or whatever fee the seller and the broker have negotiated in the listing agreement).

The Real Estate Commission Pie

For simplicity, think of the commission as a pie cut into two pieces, each of which is then divided into two more pieces, for a total of four pieces. The first time the pie is cut, half of it goes to the seller’s (listing) brokerage and half goes to the brokerage that represents the buyer in the transaction. Each of those halves are then divided between the brokerage and its agent. This time it’s probably not split into equal parts. The split depends on the agreement each individual agent has with the brokerage she is affiliated with.

The point is that the listing agent doesn’t get the whole $24,000 in the example above. She more likely earns between $6,000 and $8,400. And keep in mind, that’s her gross commission. Out of that she has to pay fees, insurance, marketing, taxes and a host of other expenses, just like any other independent businessperson. In a hot real estate market an agent can make a pretty good living. But in a slow market, where houses languish unsold for months, it can be tough to survive, which is why hundreds of thousands of agents left the business after the housing bubble burst.

So now you know. Your agent isn’t getting rich off the sale of your house. She’s just getting a piece of the commission pie.

*This is merely an example for illustrative purposes. Commissions vary from broker to broker.  It is illegal for brokerages to make agreements with each other about what commission fees they will charge.

Before you hit the pool or fire up the grill on Monday, take time to honor our fallen heroes this Memorial Day at one of the North Shore’s ceremonies:

Evanston

American Legion Post 42 will host a Memorial Day ceremony at Fountain Square  – Veterans Memorial Plaza (Davis St. and Sherman Ave.) beginning at 10:30 am. The Northwestern University NROTC color guard and rifle team have been invited to participate. Evanston leaders will offer their thoughts and perspectives on Memorial Day and its meaning.

Wilmette

The parade begins at 10:30 on the corner of Lake and Ridge (St. Joseph’s parking lot) and proceeds down Lake to Park Ave, then south to Wilmette Ave. and east to Village Hall, where there will be a ceremony to honor our war heroes.

Kenilworth

The parade starts at 2:00 pm and will be followed by a ceremony and picnic hosted by the Boy Scouts and the Kenilworth Club.

Winnetka

The parade steps off at 10:00 am at the corner of Glendale and Elm and proceeds east to the Village Green, where Lt. Col. Ronald J. Tye will speak at the ceremony.

Glencoe

Glencoe’s parade begins at 10:30 am from Greenwood Ave., proceeds north to Hazel, east to Vernon, north to Park and east to Old Green Bay Rd. It ends at the Veterans’ Memorial Park (299 Park Ave.) with a service at 11:00.

Deerfield

Attend a brief ceremony at the Veteran’s Memorial at 9 a.m., and then watch the parade as at goes to the Deerfield Cemetery.

Lake Forest

Lake Forest’s Memorial Day servicewill take place at 11 a.m. May 28 at Market Square. The Lake Forest High School band led by Janene Kessler will provide the music. Sally Lape will sing the National Anthem. Buglers Alex Levin and John Marwede will play taps.

Are you ready for a smaller, lower maintenance home, but don’t want to go all the way to a townhouse or condo? If so, this Northfield home could be a great choice for your next move.

Located at 1 Regent Wood (just off of Winnetka Avenue east of Waukegan), this home won’t make you feel claustrophobic if you are used to a larger house. Because it has all the rooms you need but none of the ones you don’t. Here’s what makes it a perfect fit for your new elegant but carefree lifestyle:

• A first floor master plus two additional bedrooms on the second floor. You still have room for your guests but day in and day out everything you need is on the main floor.

• Large formal rooms mean you can still entertain in style.

• Low maintenance: there’s no lawn to mow or snow to shovel. Like to travel? Have a second home? Just turn off the lights and lock the door behind you.

• Nothing to do -  this home was tastefully remodeled from top to bottom just four years ago, so you can just move in and start enjoying it right away.

• Tired of big house taxes? This home has an affordable tax bill of $11,911.

Before you sell your current home and make the move, be sure and consult your tax accountant about the tax implications of downsizing to a smaller home. In all likelihood you will be able to qualify for a tax-free capital gain up to $500,000 (if you file a joint return), but you should examine your options.

You can get more information about this wonderful house here. If you have any questions about it or would like to see it in person, just call us at 847-881-6657 or email us.  We’d be happy to show it to you.

North Shore Chicago home sales for April 2012 were even with last year, which is surprising given the level of activity in the market right now. For the first time in five years pent up demand is starting to show itself, though it isn’t yet evident in these numbers. Although there were 164 sales in April in the nine communities included in our analysis, there were actually 689 sales pending and will close in the next couple of months.  What we’re seeing is the domino effect of people finally being able to sell their city condos and make the move to the North Shore. As a result, we actually have a shortage of homes for sale in the price range for that city buyer: $500,000 to $900,000. Houses that are updated, in good condition and well-priced are flying off the market in a matter of days, with multiple offers in many situations.

A return to the good old days? Not quite. Prices are still down vs. last year, but the fact that there are so many multiple offer situations is evidence that the market has bottomed out once and for all and we can expect to see it stabilize and begin to make modest increases over the next couple of years.

North Shore Market Update: April 2012 vs. Year Ago

Source: MRED LLC- Data for single family homes. Deemed reliable but not guaranteed.

Want to know what your home is worth in today’s market? Give us a call at 847-881-6657 and we’d be glad to provide you with a complimentary, no obligation, home value analysis. Or you can get a free, quick, over-the-net evaluation.

U.S. News and World Report

The rankings were based on the following criteria: student/teacher ratios, college readiness (the % of 12th graders who took and passed AP exams), math and reading scores.

Here’s how our schools stacked up against the criteria:

#7 Deerfield High School

#12 Highland Park High School

#13 New Trier High School

#15 Lake Forest High School

#17 Evanston High School

#19 Glenbrook North High School

The caveat, of course, is that a different set of criteria would produce a somewhat different ranking, so whether a school is #5 or #10 is not really the point. The point is that schools on the North Shore of Chicago continue to be among the best in the state. You can read the full report here.

I love the whole concept of rummage sales. Far from being an anachronism as some might think, they serve several important purposes, all at once:

• They make low cost items available to those who need them.
• They facilitate the re-use and recycling  of usable goods, thus sparing our landfills from more trash.
• They provide a convenient (and tax-deductible) way to get rid of the stuff you no longer need.
• And (in many cases) the proceeds provide funding for local charities and social service agencies.

This week Winnetka Congregational Church will hold its 80th consecutive spring rummage sale. It’s one of the biggest one-day rummage sales in the area (if not the world!), with 31 “departments” including furniture, electronics, toys, hardware, clothing, books, china, crystal and more. It  involves hundreds of volunteers, many of whom have been working at the sale for decades.  And it raises hundreds of thousands of dollars which are donated (after expenses) to nearly 40 Chicago-area social service agencies.

Here are the details of this year’s sale:

When: Thursday, May 10 from 7:00 am to 3:00 pm.

Where: Winnetka Community House, 620 Lincoln Ave., Winnetka

Two pieces of advice:

Come early for the best selection or come late for the best deals.

Parking in Winnetka on sale day is a nightmare…take public transportation or get someone to drop you off.

So, our Come Home North Shore team has decided to sponsor the first annual Kenilworth Gardens Neighborhood Yard Sale. If you live in the neighborhood and want to participate, it’s easy.  All you have to do is drop us a line and tell us you want in, then put prices on your merchandise, drag it outside and welcome the hoards of buyers that are bound to show up on sale day. That’s it. We’ll supply the signs and the advertising to ensure we get a good turnout.

If you’re not from the neighborhood, we hope you’ll stop  by and check out all the wonderful “merchandise” we’ll be selling. I’m sure you’ll see lots of stuff you didn’t know you needed!

Here are the details:

When: Saturday, May 19 from 8:00 am to noon. (But you can start and stop whenever you want…we are not the yard sale police).

Where: Beechwood, Kenilworth, Chestnut, Thornwood, Greenwood and Elmwood Avenues (west of Ridge Rd.) in Wilmette

What to know more? Give us a call at 847-881-6657 or email us.

TIPS FOR A SUCCESSFUL YARD SALE

• It’s very well-priced at $629,000.
• It has loads of vintage charm and hardwood floors throughout.
• The kitchen and baths have been recently updated.
• It’s on a double-lot: 111′ x 159′ x 110′ x 153′
• It’s on a cul de sac street just a quick walk to Romona Elementary School

Built in 1920, we’re told this was the original farmhouse for the surrounding in this area. We’ll be having an open house this Sunday,  April 29 from 12:00 to 3:00 so stop by! .

Kids Rock Concert

April 21: 10:00 – 11:00 am
Wilmette Theatre, 1122 Central Ave., Wilmette
The Boogers will be in concert this Saturday at the Mette. If you are sick to death of Barney and the Wiggles, then take your kids to see the Boogers. They’ll love it and you will too! Tickets: $10 in advance; $12 at the door.Call 847-251-7424 or visit www.wilmettetheatre.com

Kayak on the Skokie Lagoons

April 21: 11:00 – 3:00
Lagoons boat ramp on Tower Rd., Winnetka
Assuming the weather cooperates this weekend, you can commune with nature out on the lagoons where no motor boats are allowed. Great for beginners, this trip will leave from the boat ramp south of Tower Rd. on the west side of Skokie Lagoons. Reserve a space online at www.thekayakers.com. 630-802-7647

Youth Connection Spring Fiesta

April 21: 7:00-11:00 pm
Lakeview House at Gilson Beach, 101 Lake St., Wilmette
This benefit raises funds for Youth Connection’s free after school programs. Enjoy Mexican food, drinks and dancing. Tickets: $65. Visit www.youthconnectionwilmette.com

Guys and Dolls

April 20 and 21 at 8:00 pm
Community Rec Center, 3000 Glenview Rd., Wilmette
Presented by the North Shore Theatre of Wilmette. All bets are on, as the Guys and Dolls of Damon Runyon’s story beat the odds from Noo Yawk to Cuba and back. This classic of the American theater sparkles with the music and lyrics of the brilliant Frank Loesser, with timeless tunes like, “Luck, Be a Lady,” “Bushel and a Peck,” “If I were a Bell,” and, of course, the get-up-outta-your-seat rouser, “Sit Down You’re Rocking the Boat.” Keep an eye on your wallet (and your heart) and join the gang in one of the happiest hoohahs ever!
Tickets: $15 for adults; $14 for students and seniors.
Call 847-256-9686 or visit www.wilmettepark.org

Pippin

April 20 and 21 at 8:00 pm: April 21 at 2:00 pm
Karger Center, 1850 Green Bay Rd., Highland Park
Presented by the Music Theatre Company, Pippin is a musical with music and lyrics by Stephen Schwartz and a book by Roger O. Hirson. Bob Fosse, who directed the original Broadway production, also contributed to the libretto. The musical uses the premise of a mysterious acting troupe, led by a Leading Player, to tell the story of Pippin, a young prince on his search for meaning and significance. Tickets: $40. Call 847-579-4900 or visit www.themusictheatrecompany.org

And here’s your handy guide to all the sales on the North Shore this spring:

April 28

St. Athanasius Catholic School, 2510 Ashland St., Evanston
www.stathanasius-evanston.org
8:00 am – 3:00 pm

Winnetka Covenant Church, 1200 Hibbard Rd., Wilmette
www.winnetkacovenant.org
8:00 am – 3:00 pm

May 4 and 5

Unitarian Church of Evanston, 1330 Ridge Ave., Evanston
www.ucevanston.org
May 4: 9:00 am – 6:00 pm
May 5: 9:00 – noon

May 5

First Presbyterian Church of Lake Forest, 700 N. Sheridan Rd., Lake Forest
www.firstchurchlf.org
7:00 am – 4:00 pm

May 10

Winnetka Congregational Church, Winnetka Community House, 620 Lincoln Ave., Winnetka
www.wccrummage.com
7:00 am – 3:00 pm

May 19

St. John’s Evangelical Lutheran Church, 1235 Wilmette Ave., Wilmette
www.stjohnslc.com
7:00 am – 2:00 pm

May 19 and 20

St. Norbert Parish, 1817 Walters Ave., Northbrook
www.stnorbertparish.org
847-272-7090
May 19: 8:00 am – 1:00 pm
May 20: 8:00 – noon

June 2

Christ Church Winnetka, 470 Maple St., Winnetka
www.christchurchwinnetka.org
8:00 am – noon

June 23

North Shore Unitarian, 2100 Half Day Rd., Deerfield
www.nsucrummage.org
8:00 am – 3:00 pm