August 2018 by Featured Agent

August 2018

Andy Jemmett & Elsa Sanchez also featured: Megan Bock

Email marketing 101 All about appraisals

What you need to know

contents

professionals 11

Ramping up — Is it time to hire a real estate coach?

Email marketing 101 — Make the most of your efforts

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Andy Jemmett & Elsa Sanchez

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Megan Bock

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All about appraisals — What you need to know Top 10 Things every first-time home buyer should know

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All about appraisals—

What you need to know There’s no disputing that appraisals carry a lot of weight when it comes to real estate. In general terms, an appraisal is the estimate of a property’s market value, in comparison to similar properties in the area. This estimate is calculated through a painstaking process, and is conducted by licensed professionals who are deemed objective third parties (indicating they have no financial or other connection to the property). Appraisals are not by any stretch of the imagination, “guesswork.”

A home’s appraisal will be influenced by numerous factors including:

• • • • • •

Recent sales of similar properties in the area Size of your lot and square footage of the house Number of bedrooms and bathrooms Location of the home Condition and aesthetics Upgrades and home improvements

Appraisals for Buyers — Appraisals are particularly important to buyers, as an appraisal is mandatory when securing home financing. This is because a real estate appraisal serves as an assurance to the lender that the property is worth the amount they are lending. In other words, an appraisal is a safeguard against risk for a lender, in the event that you default on your mortgage.

Appraisals are incredibly detailed and based upon a licensed appraiser’s on-site evaluation of a home, along with their research and analysis of sales data in the same area. Appraisals include amongst other things: evaluation of the real estate market in the neighborhood, details about the property compared to other similar properties, and any issues that may lower the value of the property.

As a buyer, appraisals that come in lower than the sales price can create a headache. However, if you Copyright Featured Agent Magazine

A real estate appraisal serves as an assurance to the lender that the property is worth the amount they are lending, and is a safeguard against their risk.

Appraisals for Sellers — Appraisals aren’t only important for buyers. For sellers, appraisals can mean the difference between selling your home quickly, or finding yourself with a property on the market for an extended period of time. That’s precisely why many sellers opt to have an appraisal conducted themselves before listing their home for sale. This provides homeowners with a credible idea of how to price their home accurately for a quicker sale.

have your heart set on a home and the appraisal comes in too low, there are a few things you can do. You may be able to appeal the appraisal, working together with your mortgage professional, your REALTOR,® and the seller, to seek out comparable values that may rebut the original appraisal. It should be noted that this process takes time, and it can be an uphill battle, but it’s worth a shot. Alternately, you could order a second appraisal, or try to negotiate with the seller to bring down the price of the home.

Keep in mind that an appraisal is not the same as a home inspection. A home inspection focuses on ensuring that mechanical systems in a home (HVAC, plumbing, electrical, etc.) are in good working condition. Therefore, a home inspection is highly suggested, but the results do not always directly affect the loan approval process. An appraisal on the other hand, is required and plays a significant role in obtaining financing for your home. Copyright Featured Agent Magazine

If you’re planning to sell your home, make sure all renovations and upgrades that have been made to your home are brought to the attention of your appraiser. If you’ve installed new cabinetry, flooring, or countertops, make sure the appraiser knows about it. If you’ve recently replaced your windows or updated appliances, be sure to mention that too. However, keep in mind that the appraiser will need to verify your claims, so you may need copies of work orders or receipts to confirm the dates and costs of the upgrades. Should the appraisal come in lower than you anticipated, steps to take include appealing the appraisal, reducing the sales price, or asking your buyer to bring in additional money to split the difference.

Appraisals for Homeowner Refinance — Homeowners who wish to refinance will find that appraisals can again make a world of difference. This is because you won’t be able to refinance your mortgage if your home’s value is less than the amount you owe on the property. Likewise, if your appraisal reveals that you have less than 20% equity in your home, you may be forced to refinance with additional costs of mortgage insurance, or you may not qualify for a refinance with a lower rate. 5

Top 10 Things every first-time home buyer should know Buying your first home is exciting, stressful and life-changing. You’re going to be faced with a lot of important decisions along the way, and you’ll often have to make them quickly, so the more information you have going into the process, the better. Here are the Top 10 things every first-time home buyer should know.

Mortgage Pre-Approval Isn’t a Guarantee — Getting pre-approved for a mortgage is an important step, but just because you’re pre-approved, doesn’t mean you’ll actually get the mortgage. Financial missteps following pre-approval could derail your chances.

Decide Location Versus Space — Figure out what’s most important to you. Is it the neighborhood you’ll live in, or the amount of square footage you’ll have? Once you decide that, you’ll be less likely to compromise one for the other and avoid being talked into something you don’t really want.

Understand the Total Cost — You’ve saved for a down payment, you can afford the mortgage payment, so that means you’re good to go, right? Not necessarily. You have to take into account the total cost of home ownership, which includes insurance, HOA fees, property taxes, home maintenance & repairs and more.

Don’t Expect Perfection — Very rarely does your dream home look like your dream home the moment you step through the door. You have to be able to envision the possibilities and be ready to transform it into your ideal space. Be sure you’re looking at homes with an open mind. The School District Matters — Even if you don’t have kids or aren’t planning to, the school district in which your home is located affects the property value. Don’t Make Rushed Decisions — While it’s true that you may have to make some quick decisions during the bidding process, don’t commit to anything you feel you’re being forced into or aren’t ready for.

Understand the Time Commitment — As a renter, you come and go as you please, and if something breaks or needs to be repaired, you make a phone call and that’s that. As a homeowner, you’re responsible for maintenance and upkeep, both inside and out, which will likely take a bite out of your free time.

Research the HOA — If you’re looking at a home in a community with an HOA be sure you read and understand the covenants, conditions, and restrictions (CC&Rs) and talk with your potential new neighbors to get a feel for how the HOA performs.

Don’t Be Afraid to Ask Questions — You’re about to make a huge decision. It’s perfectly normal to have lots of questions for your lender, your REALTOR®, the home inspector and anyone else involved in the transaction. Most real estate pros enjoy working with and educating first-time buyers, so ask away.

It Should Be Fun! — The home buying process can definitely be stressful, but it should also be fun, too. After all, you’re about to realize the American Dream of home ownership. Enjoy the ride! 6

Andy Jemmett & Elsa Sanchez

With more than 30 combined years in the real estate industry, Andy Jemmett and Elsa Sanchez joined forces to relaunch Urban House Realty. A decade ago, Elsa found her way to real estate after her first homebuying experience left her family with too many unanswered questions. She wanted to stake a claim in the business so others could benefit from a more straightforward transactional process. For Andy’s part, his experience stretches back 22 years. He got his start buying his first investment property in his hometown of Boise, Idaho at the age of 18, and set himself on a successful professional course.

Andy and Elsa met at a Scottsdale area real estate brokerage years ago, and immediately hit it off as like-minded colleagues. When the opportunity to purchase Urban House Realty arose, they leapt at the chance to combine their skills to spearhead a new venture. Now, what they call “Urban House 8

Realty 2.0” launched in March of 2018 to exceptional fanfare. Applying insights gleaned over decades of firsthand experience, Andy and Elsa have forged a trailblazing brokerage that provides agents and clients alike with outstanding service that delivers results.

The office of Urban House Realty is based in Central Phoenix, the area that Andy and Elsa each call home. Their team already boasts 20 agents and counting, while Andy and Elsa’s resale work is driven by 75% repeat and referral clientele. Recounting their professional approach, both cite communication, clientcentric service, and a diligent work ethic as the hallmarks of their success thus far. “We treat our clients the way we want to be treated,” explains Elsa. “We serve a lot of first-time homebuyers and have really great programs that empower both tenants and homeowners, like our lease-to-own program.” What’s

Urban House Realty

more, Andy and Elsa relish the opportunity to serve aspiring buyers who never thought homeownership would be in the cards. “Our big focus is on helping those that don’t think they have any options,” Andy explains. “We believe in homeownership and know it’s a huge dream for many people. We love to be able to help people get into a home. Even when working with seasoned investors that own multiple properties, we take pride in the fact that they trust us to find the best investment and ROI.”

As owners, Andy and Elsa draw upon their experience as agents to ensure their team has all the tools necessary to garner results — from hiring a dedicated marketing firm to promote listings and engage the public, to outlining 101 ways that agents benefit from working alongside Urban House. “We designed our business to account for what we would want as agents,” Andy says. “We give our agents full-service Copyright Featured Agent Magazine

tools and then some, while keeping their transaction fees very low. We know from experience that REALTORS® wear so many different hats. They’re handling marketing, accounting, compliance managing, and transaction coordinating. We decided to let agents do what they do best, by supporting them as they focus on their work with buyers and sellers.” Beyond their visionary approach as owners, Andy and Elsa also remain tethered to their individual clients. Likewise, the Golden Rule is a foundational tenet of their work, and they never lose sight of the individuals and families they guide to the closing table. “I love helping people, being part of making dreams come true, and opening the door to a new chapter for my clients,” Elsa recounts. “Being able to help someone through that milestone — especially if they didn’t think it was possible — that’s what motivates me. There’s no better feeling than earning

“From first-time buyers and investors, to sellers, it’s more than just a transaction. Every time we hand a key to a new homeowner, we’ve helped shaped their future.” gratitude after facilitating that process.” Andy also takes seriously his role in guiding clients through the homeownership process, understanding the largescale commitment of buying a home. In fact, his dedication has landed him on Scottsdale’s 40 Under 40 in Real Estate list multiple times — a high honor. “I never forget that buying a home is someone’s biggest investment, and it’s not just an investment; it’s a very emotional decision,” he explains. “From first-time buyers and investors, to sellers, it’s more than just a transaction. Every time we hand a key to a new homeowner, we’ve helped shaped their future. It’s such a gratifying feeling to be included in this major event and that our paths have crossed.”

To give back to their Phoenix community, Andy and Elsa sponsor area sports teams and plan on making charitable work a cornerstone of the new Urban House. “Giving is a big part of our culture,” Elsa says. “We want to become more and more involved in the community.” In her remaining free hours, Elsa most enjoys spending time with her husband and children, hiking and mountain biking in Arizona’s rugged outdoors. Andy most enjoys getaways to Lake Havasu —

a destination he’s been visiting for decades — as well as riding motorcycles and working on classic cars. Looking ahead, Andy and Elsa have big plans to keep growing Urban House, serving the talented agents in their ranks and bringing superlative service to the clients they represent. They’d also like to open an additional office in the next year, with further plans to grow their web presence and talent roster. For now, they’ll continue nurturing their flourishing brand, while supporting the Phoenix area’s aspiring buyers, sellers, and entrepreneurial agents.

Finally, in recounting their philosophy and hopes for the future, Andy Jemmett and Elsa Sanchez have this to say: “There are so many things that we’re passionate about. We work very hard for our clients and have created a company that any agent would be excited to work with. We’ve been in this business for a combined 30 years and we provide tools no one else is providing. The bottom line is this: we treat everyone associated with our firm with respect and dignity, and provide them with all the tools necessary to be competitive and successful.”

Andy Jemmett & Elsa Sanchez Urban House Realty | Phoenix, AZ 602.344.9535 | Andy@uhraz.com | Elsa@uhraz.com | www.uhraz.com 10

Ramping up —

Is it time to hire a real estate coach? When you consider that even professional athletes earning tens of millions of dollars a year rely on a coach to help them perform their best, it is clear that everyone can benefit from a coach. Indeed, the argument can be made and supported that even those at the top of their career can benefit from the mentorship, guidance, and insight that a coach can provide. This is certainly true in real estate. But how do you know if you’re ready to ramp up your business and hire a real estate coach? Here are three signs that it may be time to hire a coach, along with reasons why they are worth the investment. You Have a Positive Attitude Towards Both Personal and Professional Growth — It has been said time and again that the only constant in real Copyright Featured Agent Magazine

estate is change. Though this is often referring to the changing cycle of real estate markets, it applies to professionals in the space as well. That is, if you’re not changing by way of growing as a real estate agent, you’re setting the stage for stagnation. On the other hand, if you welcome the opportunity to learn new ways to attract clients, better methods for negotiation, savvier means of generating referrals, and you’re willing to put forth the work to do these things, you’re ready to grow under the guidance of a coach. You Know That You Need Help in Certain Areas — Hiring a coach is only going to be useful if you are coachable (AKA teachable). In order to make the most of your experience with a real estate coach, you must be willing to look at your shortcomings, 11

When you consider that even professional athletes earning tens of millions of dollars a year rely on a coach to help them perform their best, it is clear that everyone can benefit from a coach.

and/or areas of strength. If you think there is nothing left for you to learn, hiring a real estate coach will only waste time and money. You’re Prepared for the Financial Investment ‘You have to spend money to make money,’ is a timetested truism in real estate. Just like you need to spend money on marketing listings, or marketing yourself as an agent, in order to make money via commission, it’s a good idea to invest in coaching.

If you know you need help, have a positive attitude about growth and learning, and are willing and able to make the financial investment into your long-term success, you’re in a great position to hire a real estate coach. After all, real estate coaches can help to: • Assist you in sharpening your tech skills

• Engage in role-playing to manage and serve clients with a higher level of professionalism • Guide you through proven prospecting methods • Help you learn to set and maintain a budget

• Hold you accountable to your sales, marketing, and lead generation goals

• Offer alternative viewpoints on any areas of conflict with clients or colleagues

• Provide you with feedback on various sales strategies

• Walk you through fear of failure (or success)

Real estate coaches can clearly be worth their weight in gold when it comes to taking your business to new 12

heights, but how do you find the right real estate coach? Here are four tips to help you find the coach best suited to your needs.

Ask for Referrals — Just like your buyers or sellers can be an unlimited source of potential income for you, your fellow REALTORS® can offer the same through referring you to a real estate coach who has helped them. Consider asking some of the top producers in your region who they count on for guidance and coaching. Research and Research Some More Compare the various programs offered by coaches to determine which offerings seem to be the best fit for your needs. Read reviews, watch videos, and reach out to others who have used specific coaches and/or coaching services.

Confirm the Coach’s Experience — It’s vital that your coach has practical experience, and a proven track record of success in real estate, so you can be sure you’re hiring a true professional who knows how to succeed.

Schedule a Consultation — It’s important that you and your coach are compatible. Scheduling a quick consultation to assure that your personalities mesh, and that you feel comfortable both talking and listening to your coach is crucial for a successful relationship and ensuing success.

When you’re ready to finesse your skills, identify and improve upon weaknesses, and see your business reach new heights, it’s time to hire a real estate coach. By following these best practices, you’ll be well positioned to accomplish your short-term goals, while laying a solid foundation for achieving long-term professional goals you have in mind. Copyright Featured Agent Magazine

featuredagent Megan Bock magazine

Texas real estate professional Megan Bock loved her job as a teacher, but the rigid schedule didn’t allow her to spend as much time as she wanted to with her children. So when someone from local brokerage approached her and asked her to consider becoming a REALTOR,® she jumped at the chance. “After giving it some thought and realizing I loved people, properties, and paperwork, I got my license and dove right in.”

In the three years since, Megan has built a successful business serving home buyers and sellers throughout the Bryant/College Station area. Her client list is long and varied and includes everyone from first-time homebuyers to retirees.

No matter who the client is, Megan is committed to providing the highest level of service. “When someone is buying, selling, or investing, that’s a really big decision financially and probably the greatest investment they will ever make, so it needs to be about what’s best for them,” Megan explains. “I have a lot of experience buying and selling in this market and I believe it really helps to have knowledge of both sides.”

way. “Early on someone told me that this business is a marathon, not a race. Not everything is going to work out; sometimes a deal falls through and you look back and see that it was for the best. When you’re dealing with people, it’s not just a numbers game.”

Based on her commitment to her clients and the community she serves, it’s clear Megan has taken that advice to heart. She is the founder of the Jingle Bell Market, an annual event that brings local businesses together under one roof so the community can come in and shop, with a portion of the proceeds benefiting the Mercy Project, which helps rescue enslaved children in Ghana, Africa. She also has a charity tree in her office which features ornaments from local charities. People can purchase an ornament from the charity of their choice and 100% of the proceeds go back to that charity. Additionally, Megan sponsors coat drives, canned food drives, and other community initiatives. “One of the reasons I went into this business was to be a blessing for my family, my clients and my community,” she says. “These events are part of that.” As she looks toward the future, Megan’s goal is to continue improving her client services. “What matters most to me is that my clients have a positive experience and get taken care of. I want it to the best real estate experience my clients will ever have.”

The way Megan conducts business is guided by her faith, and the belief that people come first. “In this business we use the words ‘transaction’ and ‘property’ a lot but when you’re dealing with residential real estate it’s a very emotional experience,” she says. “A big part of my job is making sure my client is OK throughout the process and walking the journey with them.” Her clients also get the benefit of Megan’s teaching experience. “One of the things I love is helping my clients understand the contract and the market; it’s a way to still get my teaching fix,” she adds.

Megan is thrilled to have found her “forever career,” and fortunate that she has received excellent advice along the

Megan Bock Walsh & Mangan Premier Real Estate Group | College Station, TX 281.782.3979 | Megan@MeganBock.com | www.MeganBock.com Copyright Featured Agent Magazine

Email marketing 101 — Make the most of your efforts

When it comes to marketing, there has never been a better time to be a real estate agent. The sheer volume of venues available in which you can showcase your listings, market yourself, team, or brand, and connect with others, is greater than at any other time in history. From blogging, to social media, to websites, to online and print publications, it’s truly a great time to be in real estate.

However, there is one marketing strategy that continues to dominate when it comes to yielding the best ROI — email marketing. True, by today’s standards, compared to social media and other digital marketing platforms, email marketing is a dated marketing strategy. Yet studies continue to show that when email marketing is done properly, it is still one of the most cost-effective ways to reach your audience, and more importantly, generate sales. 14

It’s important to note however, that a poorly planned or haphazardly executed email marketing campaign can certainly fall flat. So how can you increase the odds of your email hitting its mark? Here’s a look at five best practices to ensure your emails are received, opened, and acted upon. Start with a Succinct, Snappy or Silly Subject Line — The subject line of your email will be seen before any of the content included in your message, so it needs to be succinct, but it also needs to be attention grabbing. For some REALTORS,® the magic formula may be a short but standout description of a new listing, while others may find a subject that is a bit sassy or silly receives better feedback. If you’re handling your email marketing on your own, try mixing it up, and evaluate the results from the different styles. Copyright Featured Agent Magazine

When email marketing is done properly, it is one of the most cost-effective ways to reach your audience, and more importantly, generate sales.

are available and can help you determine when your audience likely reads emails, but if such a service does not fit in your marketing budget, a good rule of thumb is to stick with mid-morning, mid-afternoon, and early evening. Make Sure Your Emails are Mobile Friendly If you are sending an email that contains graphics or a video, make sure that it is optimized for a mobile device. Studies have shown that not only do most people read their emails from their phone or tablet, they also delete and/or unsubscribe to emails that are not optimized to be mobile friendly. Be Mindful of Frequency — Emailing your audience too often will lead to email fatigue. Bombarding your database increases the likelihood that you’ll receive requests to unsubscribe. There are conflicting reports on how often you should be reaching out to your target audience, but more than once a week is typically not recommended. Many real estate agents find that once or twice a month is perfectly sufficient for solidifying or maintaining top of mind awareness.

Time Your Distribution Wisely — Emails that are received at 2am are not likely to be deemed important. This shows that the sender is obviously not in touch with their target audience, or else they wouldn’t dream of sending an email in the middle of the night. Likewise, sending an email first thing in the morning is generally not smart, as you run the risk of the email being buried beneath others. Email tracking services Copyright Featured Agent Magazine

Conclude With a Call to Action — A marketing email that doesn’t prompt readers to act is an ineffective email. Every marketing email you send should have a call to action, however small it may seem. Drive people to your website, tease them with a new blog entry, entice them to click on a listing with a preview, ask them to call you, or ask for a referral, but make sure you do something. A call to action is imperative.

Many REALTORS® will find that having email marketing campaigns automated removes a great deal of stress, and reduces the likelihood that they’ll go too long without contacting their database. There are many such services available, but if you don’t know where to start, ask a successful colleague what has worked for them. Even in the inherently competitive real estate industry, a trusted colleague, manager, or business coach will be willing to share their secrets for successful email marketing so that you too can take your business to the next level.

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