April 2022 West Coast by Featured Agent

April 2022

Top 10 Questions

to ask your agent

Should you

rent or buy? How to decide

Work/life balance — Tips for when business is booming

setting boundaries

Richard Kim

contents

professionals 6

Work/life balance — Tips for setting boundaries when business is booming

Top 10 Ways to keep in touch

Fresh start — Spring home staging tips

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Richard Kim

buyers &sellers 4

Should you rent or buy? How to decide Top 10 Questions to ask your agent

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Should you rent or buy? How to decide

Any milestone life event, such as getting married or divorced, having a baby, relocating for a new job, or sending adult children out into the world, can put you in the position of having to choose whether to rent or buy your residence. There was a time when conventional wisdom dictated that buying was always the better choice, but the ’08 housing crash changed that. Now, experts advise that people make the decision to rent or buy based on more than whether or not they can afford a mortgage payment, and take several other factors into account as well. Here are five questions to ask yourself when deciding whether to rent or buy the next place you call home.

How Stable is Your Life? — None of us can

predict the future, but before choosing to buy a home, you need to have a general idea of where you see yourself in the next five years. Do you have a good job that you enjoy and plan on keeping? Is your relationship status likely to change? Will you be adding to your family — or will it be shrinking when kids move out? Are you making plans to travel extensively? The way you answer all these questions will factor into your decision to buy or rent. Bottom line: If your life is reasonably stable and you foresee it staying that way, buying a home may be the way to go. If not, continue to rent until things settle down. Have You Saved for a Down Payment? While in some cases it’s possible to purchase a home Copyright Featured Agent Magazine

You may find that as your life changes, you end up being both a renter and homeowner at different points along the way.

a larger space and using more water. Making sure you’re financially prepared before buying a house will help ensure you get to enjoy your new home and not struggle with being “house poor.” Are You Prepared to Furnish and Decorate? Furnishing and decorating a home takes vision, time, effort and, of course, money. Even the most committed minimalist doesn’t want to live in a space that’s devoid of personality (or furniture). And really, at least half the fun of owning a home is making it your own with paint, décor and furnishings. When you’re working out your financials, don’t forget to factor in the cost of decorating the home.

without a down payment, most financial experts advise against it for a number of reasons. For one, buying a home without a down payment means a higher mortgage payment and will also require private mortgage insurance. Additionally, sellers are more likely to accept an offer that includes a down payment, especially in competitive markets.

Can You Afford the Monthly Costs? — As a renter, monthly housing costs are generally limited to rent, utilities and perhaps, renter’s insurance. When you buy a home, your monthly costs on top of the mortgage payment can include property taxes, HOA fees, yard maintenance, and higher utility bills than you’re used to because you’re heating or cooling Copyright Featured Agent Magazine

Do You Really Want to Own a Home? This may seem like an obvious question, but it’s worth doing some soul searching to figure out if you’re really ready to be a homeowner. Many people buy a home because they feel it’s the logical “next step,” or because friends and family pressure them into making an investment, only to find it wasn’t what they really wanted. Spend some time really thinking about your needs, your goals, and the life you want to live. If you come out of it feeling energized and excited about the prospect of owning your piece of the American Dream, go for it! If not, keep renting until you feel differently.

Ultimately, there’s no right or wrong answer for whether anyone should rent or buy their home. It’s a decision entirely based on each person’s unique set of circumstances. And remember, nothing is forever. You may find that as your life changes, you end up being both a renter and homeowner at different points along the way. 5

Work/life balance —

Tips for setting boundaries when business is booming A career as a real estate professional, is by design a bit unconventional. With late nights and weekend work, there’s no disputing that top producing REALTORS® often have a full plate. Trying to balance family life, or a personal life on top of the demands of providing exceptional service, it’s little wonder that most REALTORS® cite the need for balance as a goal year-after-year.

While achieving perfect equilibrium is probably a lofty goal when business is particularly busy, it is still possible to achieve a semblance of balance, or at least a feeling that your life isn’t completely lopsided. Here’s a look at ways to work towards better work/ life balance, even when your real estate business is booming.

Focus on What Needs to Be Done First No matter how disciplined you are, or how hard you 6

try to stick to a schedule, the reality is that things come up in real estate which are time sensitive. Because every transaction is different, it’s impossible to foresee all challenges that can come up on any given day. That’s why it’s beneficial to start each day with a list of things that need to be done that day, no matter what. Start with those tasks, so if something comes up later in the day, you will have at least accomplished those to-do items that were necessary. Block Off Chunks of Time for Specific Tasks Studies are beginning to indicate that multi-tasking can lead to decreased productivity. For this reason, it’s beneficial to focus all attention on a specific task for a set period of time. If you need to make follow-up calls, for example, schedule a block of time when you’ll focus only on that task. Likewise, if you need to work on a listing, schedule a set period of time in which Copyright Featured Agent Magazine

No one said being a busy REALTOR® would be easy. But there’s no doubt the rewards are worth it — as long as you make it a priority to carve out time for your own personal life, in addition to the time you spend making your clients’ lives better. love what you do. So, make certain to plan to reconnect with friends, enjoy family activities, or otherwise have fun when you have the opportunity to take some time off. It might help to buy tickets in advance to a movie, or schedule reservations at a restaurant, to keep you accountable to your personal obligations.

Put Personal Time in Your Calendar — Schedule time for yourself, or time with your family, and put it in the calendar like you would any other appointment. Even if it’s just 30 minutes of reading, relaxing, taking a bath, or walking the dog, it’s important that you honor commitments to yourself like you would commitments to your clients.

you’ll dedicate yourself to working on that task only. In most cases, when you focus your whole attention on completing a task, you’ll find you’re able to do so faster than if you’re trying to work on multiple projects at once. Assess Your Lifestyle Habits and Overall Health — If you’re not sleeping enough, chances are you’re not performing at your best, which makes everything feel unbalanced. Monitor your diet, make at least a little bit of exercise a priority, and avoid too many late nights coupled with early mornings. You’re less likely to feel frazzled, overwhelmed, or exhausted if you’re taking good care of your health.

Plan for Fun in Your Free Time — Because real estate can be consuming, it’s important to remember the adage about all work and no play, even when you Copyright Featured Agent Magazine

Unplug for a Bit — Technology is great in allowing real estate professionals to work from virtually anywhere, but as is the case with most things in life, there can be too much of a good thing. Try shutting down your phone during lunch meetings. Silence your calls while watching your children play sports. Unplugging from your phone, computer, or tablet is a smart way to set boundaries in your pursuit of balance.

Learn to Delegate — If there are tasks that can be handled by an assistant, a colleague, a family member or a friend when you’re particularly busy; let them handle it. This will help keep you focused on priorities, and prevent you from feeling overwhelmed by tasks that need to be done, which are not necessarily the best use of your time.

Top 10 Questions to ask your agent

Buying or selling a home is one of the most significant financial transactions most people will ever be involved in. So it follows that choosing a real estate agent to help reach those goals is an extremely important decision. Surprisingly, though, many people don’t spend the time they should or ask the right questions of their buyer’s or listing agent. They might say that they prefer to ‘go with their gut’ or just ‘have a good feeling’ about someone. While it’s certainly important to feel a connection and develop a rapport with your agent, there are several pertinent questions you should also ask. This isn’t necessarily the complete list, but will give you a good start.

5 Questions to ask a Listing Agent

Are you a full-time agent? Many agents, especially those new to the business, get started by practicing real estate part time. There isn’t anything inherently wrong with that, but be aware that agents who aren’t fulltime may not be as focused on your listing as you would like.

Have you worked with homes in this price range? A competent agent should be able to sell a home regardless of listing price. But it’s ideal to have an agent who regularly works with homes in the same range as your home. They will have unique insights into the market and the buyers who are looking for homes just like yours. How will you market this listing? Your home won’t sell if no one knows about it. Agents today have more marketing options than ever and should be able to answer this question quickly and thoroughly. If they don’t seem to have a concrete plan in place, keep looking.

How do you communicate with clients? This isn’t necessarily a trick question, per se. But the best answer is for the agent to ask back, “How would you like me to communicate with you?” An agent should tailor their communication style and frequency to your preferences.

What is your average days on market? Simply put, days on market means the length of time a listing appears on the Multiple Listing Service (MLS) before it sells. While a number of factors affect this, agents with a lower than average number of days are pricing and marketing their listings effectively.

5 Questions to ask a Buyer’s Agent

How often do you work with people like me? Whether you’re a first-time homebuyer, starting over after divorce or widowhood, upsizing, downsizing or relocating to a new city, every buyer has unique needs. Find a buyer’s agent who has plenty of experience working with people in your situation.

May I speak with some of your past clients? Reading online reviews can shed a lot of light on how an agent’s past clients feel about them, but it doesn’t tell the whole story. Even if you don’t actually plan to speak with past clients directly, an agent’s enthusiastic or reluctant answer to this question can tell you a lot.

How many homes have you found in this neighborhood? The more familiar an agent is with the area you want to live, the better chance you have of finding a home you’re going to love. There’s a good chance they’ll know about homes that are about to come on the market but aren’t yet listed. Do you work with a network of professionals? Connected agents should have a network of professionals ready and waiting — from lenders and title agents to contractors and painters. If they can’t offer solid referrals, keep looking for an agent who can. How do you win a bidding war? There isn’t a single correct answer to this question; it’s more about how prepared the agent is with an answer and whether or not they have a plan in place to handle this inevitable situation. 8

Richard Kim

Richard Kim Before successfully diving into the world of real estate, Richard Kim was in marketing and sales. While working in configuration management, he decided it was time for a change and with the help of a life coach, he began to explore some of his talents and passions. It all kept coming back to one thing: real estate. As Richard puts it, “We went around and around and it just kept coming up … and that’s how I chose this field.” Richard knew he liked working for himself, and valued honesty, which made him a prime candidate. He began working at Harbor Bay Realty alongside others who had been in the business for upwards of 20 years. While it was all new to him, he learned fast and quickly earned his place as an elite member of the industry.

Now, Richard has been in the real estate business for more than 18 years and has built a dynamic and successful

career. Along the way, he’s made connections with people all over the Bay Area, with the majority of his business concentrating in the East Bay. His clients clearly appreciate his hard work and straightforward approach. He estimates that 80% of his business comes from repeat clients and positive referrals. They come back time and again because of his open nature, unmatched knowledge, and genuine care for everyone he works with. Richard finds work in both residential and business properties, but his passion lies with guiding families through the process of selling or purchasing primary homes. Richard credits his business accomplishments to four guiding principles, which he learned from a past mentor: suit up and show up, pay attention, tell the truth, and let go of the results. Richard’s consistency and attention to detail truly pay off, and it shows in the connections he is able to achieve. His approach has allowed him to form

Richard credits his business accomplishments to four guiding principles, which he learned from a past mentor: suit up and show up, pay attention, tell the truth, and let go of the results. mutually beneficial relationships with many of his clients, past and present. And that talent for connection has led to high productivity year after year.

Richard’s passions lie in not just real estate, but people. He particularly values time spent with his son and wife. In fact, this was a large part of the reason he went into real estate. The free time it provides has allowed him to be a big part of his son’s life. “There are some people that are more focused on the dollar, and that’s not me,” he explains. “My business will take care of itself and I provide the service. I am extremely proud of the success I have had that that’s allowed me to participate in my

family’s life.” The ability to focus on the things that are truly important has yielded both personal satisfaction and career growth.

“I enjoy meeting the people and being of service to them, regardless of if we do a transaction or not. It’s not just about real estate, it’s about life.” When not spending time with loved ones, Richard enjoys outdoor activities such as fishing, golfing, and attending sporting events. He also gets involved with a variety of volunteer opportunities in his community. He has been on the boards of several local organizations such as Meals on Wheels, Midway Shelter, and even local schools. He finds meaning in helping people who struggle with addiction and homelessness. “I enjoy meeting the people and being of service to them, regardless of if we do a transaction or not,” says Richard. “It’s not just about real estate, it’s about life.”

As for the future, Richard wants to pass on his principles

and values to the next generation of real estate professionals. Sharing his knowledge and experience, as well as being of service, drives his passion for real estate. If Richard can make a positive impact to the lives he touches, his heart is full. He strives to expand in abundance, success and love, while inspiring those around him to do the same. Real estate has given Richard appreciation, gratitude, care and compassion for those he serves, and he would like to pass it along to those he works with. His belief that ‘You cannot keep it, unless you give it away,’ is a roadmap for agents. “Be helpful and of service, and your glass will always be full, ‘Making Your Dreams A Reality!’”

Richard Kim Compass | Alameda, California 510.541.1911 | richard.kim@compass.com 12

Top 10

Ways to keep in touch

We all know REALTORS® whose client base consists of 100% repeat and referral business. It’s an amazing achievement, and a goal many other real estate professionals aspire to reach. But how do they get there? Are they just lucky? Or maybe they’ve always just been in the right place at the right time? The truth is, they are the ones who understand the value of consistently communicating with clients long after the transaction is over. Whether you choose to do one, two or a combination of the following, check out the Top 10 ways to keep in touch with clients.

Send Anniversary Cards — No, not wedding anniversary (though that would be a nice touch). We mean sending a card to commemorate the date of the closed transaction you had with them.

Keep Clients Informed — If you want clients to think of you as an expert in local real estate, prove that you are by sending informative newsletters. If you don’t have the time or resources to put one together, there are turn-key services that provide standard content with a bit of local customization.

Share a Cup of Coffee — If you have time to meet clients for a cup of coffee and a catch-up, that’s great. But even if you don’t, you can still treat them to a cup of joe. Send out Starbuck’s cards or gift cards to a local favorite coffee shop with a note saying “This cup is on me.”

Send Small Gifts — Encourage clients to remember you by sending small, useful gifts, a few times a year. Set Up Periodic Calls — Make quick phone calls to check in and make sure clients are happy in their new home and see if they need any recommendations for home care professionals.

Send Birthday & Holiday Cards — Birthdays and holidays are the perfect time to let clients know you’re thinking of them. If it seems like too much to keep track of, there are automated services that take care of everything for you. Host an Event — Love planning parties? Host an annual client appreciation event. Go all out with food and entertainment to make it a truly memorable experience and a must-attend event on clients’ social calendars. Grab Lunch — You might not have time to do it with all your clients, but taking your very best clients out to lunch a few times a year is the perfect way to cement the relationship.

Make the Holiday Rounds — The holidays are a perfect time to stop in to see clients’ beautifully decorated homes and deliver a thoughtful gift.

Make Social Media Matter — If you’re going to spend time on social media, make it count by using it to keep in touch with clients. You’ll develop a stronger connection as you keep up with their daily activities. Copyright Featured Agent Magazine

Fresh start —

Spring home staging tips

Even if the weather suggests otherwise, spring is right around the corner (and has already arrived in many places). With this change of season comes a change in the way you stage and present your listings. Spring is all about showing off a space that looks fresh, clean and inviting. Check out these pro-approved home staging tips for spring. They don’t call it ‘spring cleaning’ for nothing Spring home staging starts with a deep cleaning. Winter is tough on a home’s interior. There’s been water and dirt tracked in on boots. Dust building up from heated dry air. And clutter accumulating from holidays and other activities. Before you start adding the aesthetic touches, get back to basics and be sure the home is cleaned and freshened from floor to ceiling. Encourage your sellers to overhaul and purge, rather than just stuffing clutter out of sight in closets. Remember, buyers will check closets for storage space 14

and if they’re overstuffed, it appears there’s not enough room for storage.

Turns out, it’s easy being green — Spring is all about new beginnings. This year’s Pantone Color of the Year — Greenery — is the perfect starting point for adding spring color to the home. The fresh hue is inspired by the color of new leaves, and is surprisingly easy to blend with other colors (Pantone calls it ‘nature’s neutral’). Give the home a fresh, trend-ready look and feel by incorporating the color into throw pillows, bed and bath linens and kitchen towels or placemats. Additional colors that will be hot for the season are blush pink, tan, sage and a spectrum of blues — from delicate robin’s egg to rich lapis. When in doubt, bring the outside in — Nothing says spring like something in bloom. Fresh flowers placed throughout the home are always an elegant

Spring is such a special time of year. Capture that feeling in your listings by staging them to reflect the promise of the season. You’ll attract buyers who will want to make your listings their new beginning. and upscale choice. But if that’s not in the budget, there are plenty of other ways to bring the outside in. Flowering potted plants are a more affordable and longer-lasting choice. Potted herb gardens are beautiful, fragrant and perfect for a kitchen windowsill. Indoor succulents remain a popular choice and require almost no maintenance. They’re an easy way to add greenery to any room.

From April showers to fresh flowers — While winter is all about scents that evoke cozy warmth — like vanilla and cinnamon — spring’s home scents should be fresh, clean and light. Think of those things that make you take a big deep breath, like laundry drying in the sun, freshly cut grass, or spring’s brightest blooms. Look for candles or oil diffusers in these scents and place them strategically throughout the house for Copyright Featured Agent Magazine

subtle hints of fragrance. Extra points if the candle colors echo the spring color theme.

Don’t forget those finishing touches — Showing homes this time of year is tricky. You might go through two or three weather changes in the same day. But you’ll be ready for them if you keep a fresh welcome mat by the front door, an umbrella holder in the entryway and hang a few Command hooks to hold raincoats or sweaters. Be sure the front walkway stays clean and unobstructed. On cloudy days, turn on lights throughout the house to chase away the gloom.

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