March 2022 Nationwide by Featured Agent

March 2022

The perks of purchasing — tax breaks for homeowners

Seven secrets for

successful negotiations

KELLEY

Monica also featured:

Alexandria McCutcheon

contents

professionals 7

Using social media to meet your sales goals

Seven secrets for successful negotiations

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t featured cover agent

Monica Kelley

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Alexandria McCutcheon

buyers &sellers 4

The perks of purchasing — Tax breaks for homeowners Ready to buy a home? Get your credit ready first

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The perks of purchasing —

Tax breaks for homeowners Paying taxes is one of the most complicated duties that today’s homeowners face. From endless forms and complex deductions to adjusted interest rates and more — there are countless rules to govern how homeowners pay their share. What that in mind, what does the average homeowner absolutely need to know when filing their taxes? For starters, keep these easy-to-apply maneuvers in mind as you file to get the most out of your home investment.

Mortgage Interest Costs — American homeowners are able to write off almost the entirety of what they’ve paid in mortgage interest — even for a second home in some cases. To claim your own write-off, keep tabs on Form 1098, provided by your lender. This document details just how much you can deduct from your mortgage interest. While you’re on 4

the hook for your principle mortgage, mortgage interest payments can be cited on taxes to reduce the overall payment due.

An Eco-friendly Tax Break — As a homeowner, you can make the cost-effective decision to update appliances, home systems, and basic features with eco-friendly models. This will not only diminish your monthly energy bill, but will also lower your tax payment. Energy-efficient fixtures such as windows, doors, and insulation can qualify you for a tax deduction. Note: these updates must meet the Energy Star designation in order to be considered for a tax break. Be sure to keep receipts and register these items once purchased and installed, which serve as further proof for your tax deduction. This eco-friendly tax credit counts towards 10% of the products’ cost (though it Copyright Featured Agent Magazine

While the U.S. tax code isn’t an easy obstacle to overcome, there are certainly a few ways you can reduce the burden of property taxes as a homeowner. does not cover installation fees and there are caps for the total credit you can be awarded). Construction Loan Interest for New Build Properties — If you paired with a builder to custom construct your home and took out construction loans in the process, you can write off the interest of those loans. Just as you can deduct mortgage interest payments and potentially deduct mortgage insurance payments, you can also deduct the interest stemming from construction loans. While this deduction only applies to the first 24 months of the loan, it can still provide meaningful relief when filing your taxes.

Mortgage Insurance Costs — Certain borrowers are required to pay mortgage insurance, and this monthly Copyright Featured Agent Magazine

payment can add up over time. Here’s the good news: just as you can deduct mortgage interest costs from your tax payment, you may also be able to deduct mortgage insurance costs, reducing your overall payment by a significant share. If your adjusted gross income is less than $100,000 annually, you’ll likely be able to deduct the amount you’ve paid into mortgage insurance. If you make more than that $100,000 cut-off, you may still qualify for a partial reduction.

While the U.S. tax code isn’t an easy obstacle to overcome, there are certainly a few ways you can reduce the burden of property taxes as a homeowner. Keep these strategic tax breaks in mind to limit your tax payout, and your bottom line will enjoy the extra padding in the year that follows. 5

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Hard-won experience, a focus on relationships, and a strong desire to give back to the community are essential to the lasting success of any real estate agent. Aurora, Colorado agent Alexandria McCutcheon of Keller Williams has embodied these traits during her nearly two-decade-long career in the industry. Describing herself as “one of the lucky ones,” Alexandria gained upclose-and-personal realty experience first as a receptionist at a fast-growing mom-and-pop firm, then as an admin at RE/MAX. These positions taught her how to work well with teams both large and small.

Even after putting in a full day’s work at the office, Alexandria was able to devote extra time and effort after-hours and on weekends to helping others as a buyer’s agent. Dedicating herself to learning her trade, Alexandria took the real estate exam in 2011 and received her license two years later, wasting little time in becoming the kind of agent who puts clients first.

Alexandria attributed her achievement at the start of her career to her willingness to help clients regardless of their desired price point or home buying experience. By focusing more on fostering personal, long-lasting relationships than on dollar signs, Alexandria made connections with clients regardless of their price range. “Those clients have become my best clients because they continue to come back for repeat business.”

The importance of family is a core value of Alexandria’s group, The Creer Team, which she started after becoming a top agent at Keller Williams. “We put our clients’ families first, and we always let them know that although the transaction may get stressful, we will guide them through the process.” Alexandria prioritizes the comfort of her clients every step of the way, letting them know that they can trust in her during the stressful

Alexandria McCutcheon moments that occur during any home search. This confidence between agent and client is so key to Alexandria’s ethic that it is at the center of her team’s title. “My team name actually means ‘believe’ in Spanish.”

For Alexandria, this focus on building lasting, trust-based relationships is far more than a buzzword; she estimates that 90% of her business comes from repeat clients and referrals, many of whom describe her as an agent who genuinely listens to their needs. She describes forming friendships as her favorite part about working in real estate. Alexandria particularly enjoys getting to know clients who are just at the start of their home search journey, which gives her the chance to go the extra mile and educate them on building value through home ownership.

Wanting to create a personable culture of service in both her work and non-work life, Alexandria supports first responders, volunteers at schools, and sponsors local baseball teams. This dedication to helping others was publicly recognized in 2018, when she was chosen by Mo Anderson, one of Keller Williams’ owners, to receive the Cultural Ambassador Award. This prestigious accolade honored both Alexandria’s community outreach programs and her enthusiasm for mentoring new real estate agents. The Creer Team consists of two additional agents, with the desire to grow by adding a third agent. “Eventually, I would love to focus on mentoring new agents while my team operates,” Alexandria says, “And still be able to be very hands-on with the team. I like to give back by mentoring people as I’ve been mentored before.”

When she has downtime, Alexandria loves learning about history (including Colorado ghost history) and spending time with her family, which consist of her two children plus numerous nieces and nephews. Regarding her kids, Alexandria says, “I’m trying to soak up all these last minutes with them before they go off to college.” As always for Alexandria, relationships come first.

Alexandria McCutcheon

Keller Williams Realty | Littleton, CO 720.495.7494 | alexandria4homes@gmail.com 6

Using social media

to meet your sales goals Social media affords REALTORS® and mortgage professionals alike an unprecedented opportunity to stay in contact with past clients, all the while reaching out to potential clients. That is, if you know how to use social media effectively. While it might be fun to share silly memes, or even articles about subjects you find interesting; as a real estate professional, you’re also taking a gamble in doing so, as you run the risk of alienating past, present, or potential future clients.

Instead, when it comes to using social media to brand your business, share your skillset, and build relationships, it’s best to have a strategy in place. Here’s a Copyright Featured Agent Magazine

look at how REALTORS,® originators, and brokers can utilize social media to increase sales. Repurpose Other Marketing Initiatives and Share on Social Media — Because social media is incredibly cost-effective, if not altogether free, you have a golden opportunity to repurpose all of your past and current marketing initiatives, thus getting even more mileage out of your efforts. For example, you can supplement your email marketing campaigns through posting your newsletter, weekly, monthly or quarterly on social media sites. You can also use advertisements as new cover photos, profile pictures, tweets, or status 7

updates. Videos you create for your website can easily be uploaded to a YouTube channel, Facebook, Twitter, and even Instagram. In short, social media expands your reach exponentially.

Inquire and Engage with Clients — Social media enables real estate and affiliated industry professionals a terrific opportunity to engage with past, present or prospective clients through opening dialogue. From taking surveys, to asking for feedback on various articles, images, and even new restaurants in your community, you can interact with people you may otherwise never engage in conversations with. Position Yourself as an Expert and Educator Using social media to share valuable information including market updates or mortgage rate news, secures you a position as a professional who is eager to educate others. Moreover, sharing interesting home value pricing statistics or changes to mortgage interest rates will likely invite questions from your audience, further providing opportunities for client engagement. Share Rave Reviews About Your Service Got a great testimonial from a client? Share it on social media as another way to brand yourself or your business as one which prioritizes client services. This is a great way to reinforce your dedication without having to boast about yourself, as you’re letting someone else do the talking for you.

Keep an Eye on the Competition — Social media also enables REALTORS® and mortgage originators the opportunity to see what other top-producing agents or professionals are doing to keep their name top of mind. By looking to what some of the top-producing real estate agents and originators are doing, both in 8

your market, or in other markets, you’ll likely get ideas for additional marketing opportunities that you could also implement.

Promote Your Partners — Social media also gives real estate and mortgage professionals the opportunity to support one another, further solidifying referral partnerships through the acknowledgment of milestones, such as a sale or getting a loan closed quickly. For example, mortgage brokers can help REALTORS® gain added exposure for their listings through sharing listings on their own sites.

Showcase Your Products — Sharing your listings on social media is a smart move for REALTORS.® The potential for others to see and share with a friend who is looking for a home is significant. Likewise, for mortgage professionals, sharing any new loan products or updates to existing products on social media is a smart move toward driving website traffic or calls.

Champion Your Community — As a real estate professional, social media should be used to highlight the perks of the various communities in which you live, work and play. This has the power to attract an audience who may not be sure which neighborhood or community they want to live in.

Any way you look at it, having a strong social media presence should be a part of any real estate professional’s marketing strategy. It is the fastest, cheapest, and easiest way to keep your name, your business, or your brand in front of people you already know, and those you’ve yet to meet. Just be sure to stay away from topics which might upset or otherwise alienate others. Instead, load up your feeds with useful, helpful, and positive information, and you’re likely to see your referrals start to multiply. Copyright Featured Agent Magazine

KELLEY

Monica

KELLEY

Monica When faced with adversity, most people crumble or falter, at the very least. But Monica Kelley of Coldwell Banker Elite, Realtors isn’t most people. In the darkest of times, she made decisions that certainly did not make life easier for her in the moment, but ones that would be the best for her in the long run.

Monica dreamed of pursuing a career in real estate from the moment she and her then-husband purchased their first home more than 20 years ago. However, any time she actually considered leaving her long-time job with the state of Texas, the thought of not having a steady paycheck kept her right where she was. Fast forward to early 2020, when Monica found herself overwhelmed with all that was happening in her life. Her oldest son left for college and her father suddenly passed away, all while she was training for a new position with the state and running her boutique. At that same time, her youngest son tested negative for COVID, and as a precaution, Monica tested too, and received a positive result. It was then, when everything came to a

standstill, that she decided to finally leave her job. “I just decided to submit my resignation right then and there and never go back,” says Monica.

After a year of studying real estate and obtaining her license, she made the announcement to family and friends that she was officially a real estate agent. “I immediately got a listing, put the house on the market, and sold it within 24 hours. I had 20 transactions in my first few months, and I haven’t stopped since,” Monica explains. “I went through a divorce, I was broke and had no furniture in my new apartment, but by the end of the third quarter of 2021, I was the number one agent in my office. I could not believe it!”

As a dual state agent in Texas and Arkansas, Monica serves clients in Texarkana and surrounding areas such as New Boston, Pine Bluff, Nash, and more. Never one to limit herself, Monica enjoys hosting first-time homebuyer seminars. These seminars help bring in new leads, but more importantly, they help educate potential buyers on what it really takes to get into a home. “I bring in the

“I ENJOY GETTING TO KNOW THESE FAMILIES AND LEARNING WHAT THEIR GOALS AND DREAMS ARE, AND JUST BEING THE PERSON THEY CAN COME TO FOR ANYTHING.” banks, the title companies and even home inspectors, and we walk people through the whole process of buying a home,” she says.

Once you partner with Monica on buying or selling your home, you’re not just a client, but a friend for life. “I like to have a strong relationship with every client before, during, and even after the transaction is done. I enjoy getting to know these families and learning what their goals and dreams are, and just being the person they can come to for anything,” stated Monica. “I’m the agent who gets invited to past clients’ cookouts and birthday parties, and it’s because of the relationships I create with them.” And with her solid social media presence, it’s easy to see how Monica connects with Copyright Featured Agent Magazine

people on such a personal level. “Many of these people already know me and trust me, so they’re more likely to work with me and refer me to others.”

In addition to those strong connections, Monica’s drive and ambition are what keep her motivated to work hard and succeed. “Don’t tell me I can’t do something because I’ll show you I can!” Indeed, she can. Monica was awarded 2020 Rookie of the Year, achieved Silver Status with the Arkansas Real Estate Commission in the first six months of being in the business, and is frequently awarded Listing or Selling Agent of the Month in her office. At the time of this publication, she is on track to complete 60 transactions with at least $12 million in production. 11

“SOMEDAY I’LL HAVE MY OWN REAL ESTATE COMPANY, BUT I ALSO WANT TO GROW — NOT ONLY AS A REAL ESTATE AGENT — BUT AS A WOMAN, A MOM, A SISTER, A FRIEND, A CITIZEN, AND A HUMAN BEING.” Monica is also active in her community as the Community Vice President of the Junior League of Texarkana, and previously served on the Board of Directors for Grid Iron Youth Sports. In her spare time, she enjoys traveling and food. “Give me ALL the steak and potatoes and junk — I want it all,” Monica said with a laugh. She is currently looking forward to celebrating her 40th birthday with a big trip to London and Paris, where she’ll likely find plenty of new favorite foods to add to her list.

As for the future, Monica has big plans to expand and offer opportunities to others. “Someday I’ll have my own real estate company, but I also want to grow — not only as a real estate agent — but as a woman, a mom, a sister, a friend, a citizen, and a human being,” she said.The sky is the limit and Monica remains open to whatever the future holds for her. “I’m a firm believer in listening to that calm, still voice of God, and when he tells you to go, you need to go! This is my story, this is what motivates me to get up and go… and this is a great place to be.”

Monica KELLEY

Coldwell Banker Elite, Realtors | Texarkana, TX 903.278.6163 | realtormonicatxk@gmail.com 12

Ready to buy a home?

Get your credit ready first If you are thinking of purchasing a home in the coming year, there are several things you should do before you ever step foot into a potential house. One of them is to review and improve your credit to help ensure you receive the most favorable home loan terms. Of course, everyone has their own unique set of circumstances when it comes to finances, but there are some basic guidelines all borrowers can benefit from. Here they are:

Start with Your Score — The first thing you want to do is get a copy of your credit report, which includes your FICO credit score. You can get your report for free at annualcreditreport.com. Review it thoroughly for any errors or inaccuracies. If you find any, get to work having them corrected; you want lenders making decisions based on your information, not someone else’s. Traditional lenders typically require a credit score of 620 or higher to consider applicants for a loan; FHA loans require a minimum score of 580. However, your score will also affect the interest rate on your mortgage — the higher the score, the lower the rate. So it’s worth it to work on improving your score before you apply.

Pay On Time, Every Time — This is the single most important thing you can do to ensure a good credit score. Having a strong record of on-time payments is essential when applying for a home loan. Even one recent late payment can greatly influence the decision. If you’ve had any issues paying on time in the past, make it impossible to pay late by setting up all your bills up for automatic payments.

Hold Steady with Credit Cards — When you apply for a mortgage, lenders will be looking for consistency and responsibility. So now isn’t the time to open a lot of new credit cards. But it’s also not the time to close the ones you have. It’s a great idea to pay down high balances, but even if you pay off one or more cards, don’t close the accounts. Doing so can have a negative effect on your credit utilization ratio Copyright Featured Agent Magazine

(amount of total debt divided by total available credit), which has the potential to lower your credit score — exactly what you don’t want.

Even if you’ve made financial mistakes in the past, you can still work toward improving your score. It takes time, patience and discipline, but it will be well worth it. Beware of Quick Fix Credit Repair — If you’re credit score is lower than you’d like, you might be tempted to go for one of the quick fix credit repair solutions. Don’t do it. There is no way to immediately “fix” bad credit. What these companies do is initiate disputes on all negative entries on your credit report. While the creditors look into it, those line items will disappear from the report, which gives the temporary appearance of a cleaner credit record. But, once the creditor determines the entry is valid, it will show back up on your report. You are better off taking the money you’d spend on credit repair and using it to pay down high balances. Have a Talk with Your Boss — While this won’t directly influence your credit, it can help as you prepare a plan to buy your home. Talk with your manager about what you can expect in the coming year. Are you on track for any bonuses? Will the company be giving salary increases? If so, are you in good standing to get a raise? Having an idea of what is to come financially can help you make better decisions and formulate a solid plan to help you reach your goal of home ownership.

Getting a handle on your credit situation is an important step when considering buying a home. Even if you’ve made financial mistakes in the past, you can still work toward improving your score. It takes time, patience and discipline, but it will be well worth it. 13

Seven secrets

for successful negotiations

Homeowners and home buyers have a lot at stake when entrusting a REALTOR® to negotiate for the best price, terms, and conditions of a transaction. After all, homeowners may be using the money made from a sale to upgrade to a larger home, to send their children to college, or for countless other reasons. On the other hand, buyers also need to be sure that their agent is working hard to ensure they don’t pay more than fair market value for a home, or make a bad financial decision.

As such, real estate agents need to constantly seek ways to improve their negotiation skills. Even the most seasoned real estate agents know that growth comes through ongoing education and constant self-evaluation. In other words, there is always room for improvement. Here is a reminder of valuable steps to take to help 14

succeed in negotiations for your buyers and sellers.

It Never Hurts to Ask — Savvy negotiators will always ask for what their clients want — within reason. That’s because if you don’t ask, you’re certain you won’t get what you’re after. There’s no guarantee that asking will assure you get what you’re asking for, but at least you will have given your best effort. Two Ears, One Mouth — An often-overlooked strategy in the pursuit of securing the best deal, is the art of listening. You can glean valuable insight by listening more than you speak. Be Armed with Facts — The easiest way to shortchange a buyer or seller is to be unprepared with facts, statistics and data when it comes time to negotiate with

Real estate agents need to constantly seek ways to improve their negotiation skills. Even the most seasoned real estate agents know that growth comes through ongoing education and constant self-evaluation. In other words, there is always room for improvement.

toward negotiations is only likely to alienate the other party. Conversely, presenting a can-do attitude and a willingness to work through the issues at play will go a long way in making negotiations not only more pleasant, but more successful.

Step Into Their Shoes — Expert negotiators are skilled in putting themselves in the other party’s shoes. In this case, we’re talking about showcasing exactly how the other party’s needs will be met through what you’re proposing.

the other party. Spend the extra time, energy, and effort to be the most educated REALTOR® in the transaction, and you’ll wind up with results you and your client are both pleased with.

Refuse to Rush — Haste makes waste, as the old saying goes. Trying to rush through negotiations will only create more opportunities for error or oversight. Refuse to give in to unreasonably short negotiation processes just to close the deal quickly. Measured, thoughtful, negotiations will increase the odds that your client really is getting the best possible result. Bring an Optimistic Outlook to the Table There’s something to be said for starting negotiations with the expectation that the outcome will be favorable to your client. An aggressive or cynical attitude Copyright Featured Agent Magazine

Put Personalities Aside — When dealing with an agent whose personality doesn’t exactly mesh with your own, it can be difficult to set aside challenging behavior or tactics, but it is vital to do so. Your role as a REALTOR® is to sell or secure a property for your client, not necessarily to become friends with the other agent. Keep that at the forefront of your mind when dealing with difficult parties, and keep your focus firmly on the task at hand — securing the best deal for your client.

As a professional real estate agent, it is your responsibility to seek out opportunities to better serve your clients every day. This can prove challenging, as there are only so many hours in a day; but the fact remains that we will get out of our careers the effort we put into them. If negotiating isn’t necessarily your favorite part of your job, that’s all the more reason to work even harder at it. It may be worth your while to attend a class, seminar, or other training workshop a few times a year to brush up on negotiation tactics or learn new tricks of the trade. Alternately, there are wonderful business coaches who have years of experience, and track records to prove their success in negotiation. Consider tapping into their knowledge, expertise, and advice when you’re ready to bring your negotiation skills to the next level. 15

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