March 2022 East Coast by Featured Agent

March 2022

The perks of purchasing — tax breaks for homeowners

Karen M. Riscinto also featured:

Stacy Esser Seven secrets for successful

negotiations

contents

professionals 4

Seven secrets for successful negotiations

Using social media to meet your sales goals

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t featured cover agent

Karen M. Riscinto

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Stacy Esser

buyers &sellers 13

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

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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 4

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 selfevaluation. 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. 5

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Before earning her real estate license in 2010, Stacy Esser had already been a success in the fashion world of New York City for 15 years. She knew she could use her skills and experience from her prior career to jump start her real estate business, but she encountered some unique challenges early on; Stacy started her life as a REALTOR® in a particularly tough market, and had to learn the ins and outs of her field the hard way. Through perseverance and dedication, she was able to overcome those challenges and foster an impressive career. She now runs SEG Realty, her own team of 12 agents, in Bergen County, New Jersey, and has achieved success both through her team and her own exploits over the years.

From the beginning, Stacy devoted herself to the people around her. Her business philosophy is completely client-centric, and she and her team make it their priority to fight for their clients’ best interests at every turn. Through expertise and professionalism, Stacy and her team provide consistently efficient, high-value service to each of their clients, working together to ensure everyone they work with leaves the closing table satisfied. “My first priority is to ensure my clients have what they need to be successful, whether that’s through giving the best possible advice or offering our high-quality complementary staging service,” Stacy says. “We stand out from the field because we truly do everything for the benefit of the client.” Nearly 80% of their business stems from repeat clients and referrals, in large part due to their willingness to always put the client first.

Beyond providing an exceptional client experience, Stacy and her team have found success in other areas as well. Each of SEG Realty’s three locations is a Top Producing Team, meaning they close over $35 million each year, and altogether closed more than $140 million in 2021 while helping 135 families buy or sell their homes. As a result of their consistent production, they have kept a spot in the Top 1% of the MLS since 2013.

Stacy Esser

Stacy herself has a number of certifications in a variety of areas, including Coaching and Youth Facilitating from John Maxwell, and takes pride in her ability to successfully lead her team to greatness through a regimen of coaching, training, and team building exercises. “It’s my mission to influence, motivate, and empower people, and that includes the agents on my team. I am only as good as they are, and they happen to be amazing,” Stacy says. “I love helping other people be successful.” Additionally, Stacy’s team offers a number of services and resources meant to make clients’ lives easier, such as staging and inventory, and regardless of which agent the client hires, they get access to all of the support that comes along with SEG Realty.

In keeping with her mission to enrich the lives of the people around her, Stacy finds it vital to stay involved with her local community. Through a partnership with Community Chest, Stacy launched the Young Women’s Leadership Scholarship for high schoolers, which will culminate with a workshop series to empower and develop leadership skills in young women in high school. She also does public speaking and leadership talks and participates in a number of charitable organizations around town. In addition, Stacy’s team works with the CFA Center for Food Action and was awarded the community service award. In her free time, Stacy sings with a rock band. She says, “It’s a huge high and I try to combine this with charities by giving back in the form of a rock concert.” Stacy also enjoys spending time with her family, and measures her success as much by her professional accomplishments as her ability to spend quality time with her loved ones.

Looking to the future, Stacy is actively marketing her brand and searching for talented agents devoted to elevating the way real estate is perceived by the world at large, by providing luxury level service to every client and building positive relationships that last long past the closed transaction. By building her team with like-minded professionals, Stacy can guarantee the longevity of her unique high-quality brand of client service, allowing her to bring satisfaction to an even larger number of clients in the Bergen County area for years to come.

Stacy Esser Keller Williams | Bergen County, New Jersey 917.621.6794 |stacy@stacyesser.com | www.segrealty.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

Karen M. Riscinto

When you’re in the market to buy or sell a home, of course you want a professional who can guide you through the process from start to finish. But when you need an expert and someone who can go far above and beyond, Karen Riscinto of Florida Lifestyle Realty Group, Inc., perfectly fits the bill.

Located in Eustis/Mount Dora, Florida, Karen relies on her decades of vast experience in the real estate industry to find just the right property for her clients. She has had her hand in nearly every aspect of the business since 1977, from purchasing to insurance to legal litigation for several developers and property management companies. After many years of working for other companies, Karen decided to dive full time into real estate to utilize her skills and knowledge to her own advantage. As the owner of her own brokerage and property management company, Karen manages over 50 properties and boasted more than $4.5 million in sales in 2021 and was rated #3 in Lake County by “Rate My Agent.”

But it doesn’t stop there: Karen also has a passion and keen eye for interior decorating. This is just one more added value when assisting her clients in listing their home, envisioning the potential of a home purchase, finding a rental, and managing their properties.

Never one to limit herself to any particular location, Karen currently serves all of Lake County, but will happily go where her clients’ needs are. “I’ve done business all over the state,” Karen explains. “I live by the old adage, ‘have car, will travel,’ and if a client really wants to do business with me, I’ll go wherever they need me.” And when she says her priority is simply helping clients reach their real estate goals, whatever they may be — she means it. “I’ve been in this business for so long in one form or another that I’ve sold everything from luxury homes to mobile homes. I do it all!”

Anyone who has worked with Karen can vouch for her knowledge and experience, but they also appreciate her

BEFORE

“This is my passion and that’s why I’ve done it for so long. There are rough days for sure, but the good days outweigh them all.” honesty and her ‘what you see is what you get’ attitude. Citing the Golden Rule as her guiding principal, Karen stressed, “I will always work hard to get the best possible deal for my clients, even if that means they end up buying a less expensive house. I want to be able to sleep at night, so I tread very carefully when it comes to the advice I give my customers.”

As a result, Karen has built a strong and loyal clientele. She estimates half of her business stems from referrals, while the other half comes from repeat clients. Karen also prides herself in the numerous designations she’s attained over the years, such as MRP (Military Relocation Professional), CIPS (Certified International Property

Specialist), and CDPE (Certified Distressed Property Expert), however, she’s most proud of the fact that she is well-versed in so many aspects of real estate. “It’s made me more well-rounded and there’s so much more I can offer my clients.”

Aside from expertise, there is another aspect that sets Karen apart from other agents. She always answers her phone and is available whenever her clients need her. “I want to actually speak to my clients on the phone rather than text. I work so hard for them and want them to know that I’m always here to go above and beyond.” As busy as she is showing homes and tending to her

BEFORE

clients, Karen enjoys spending any downtime she has with her four dogs and renovating her 1919 farmhouse. “I love hunting down the best products to use in my renovation project and finding the best deals on items for the properties I manage at the same time. I’m saving my clients money and I know they appreciate that I go further than most people do in property management.”

And even after four decades of real estate, Karen has no plans to slow down anytime soon. In fact, she’s looking to grow her business even further. “I’d love to have two or three experienced agents join me in my office,

soon to be back in Mount Dora,” Karen shared. It’s her genuine love for this industry that keeps her busy and flourishing. “I just love helping someone get into a house and knowing they really love what they bought — that’s so important to me. This is my passion and that’s why I’ve done it for so long. There are rough days for sure, but the good days outweigh them all.”

Karen M. Riscinto

Florida Lifestyle Realty Group, Inc. | Eustis, FL 352.343.0030 | realestateoutofthebox@gmail.com www.realestateoutofthebox.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

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 14

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 Copyright Featured Agent Magazine

monthly 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. 15

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