May 2017 Pacific by Featured Agent

May 2017

7 Secrets

for successful negotiations Make the most of

small space living Using social media

Michael Menin also featured: Nani Palmer & Lance Davis

to meet your sales goals

contents

professionals Featured Agent Magazine

7 Secrets for successful negotiations

Using social media to meet your sales goals

Make your mark â&#x20AC;&#x201D; 5 Ways to stand out

Phone 888.437.5707 Fax 888.849.3663 contact@featuredagentmagazine.com www.featuredagentmagazine.com 2

t featured cover agent

Michael Menin q featured agents

Nani Palmer & Lance Davis

buyers&sellers 9

Initial investment â&#x20AC;&#x201D; 7 Things you need to know before investing in real estate

Top 10 Reasons to use a REALTOR@

Make the most of small space living

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7 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 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. 5

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Civilian and military individuals and families alike couldn’t hope to find a better real estate team serving Anchorage, Wasilla, and Eagle River, than Nani Palmer and Lance Davis. As partners leading the Les Bailey and Associates Team at Keller Williams in Eagle River, Nani and Lance are deeply entrenched in the local communities in which they live, work, and play. Consistently ranked in the top 10% of Keller Williams agents nationwide, and in the local market, Nani and Lance represent the next generation of superior service provided by Les Bailey and Associates, which was founded by Nani’s father 25 years ago.

In addition to being longtime residents of Eagle River, both Nani and Lance have years of personal and professional experience working with military families, to help them achieve their unique goals, which are often different from civilian homebuyers. “My father, Les Bailey is a military veteran, and I grew up a military brat, so I understand and empathize with the needs of a military family when relocating to a new area,” Nani says. Moreover, Lance is an army veteran who served five years of active duty, and subsequent time in the National Guard, before launching his real estate career. “Military families are often transient, and may not be buying their forever home. We work with them in relocating to make sure that they find a home they will be able to sell when they need to, or we help them to find homes that they will keep as investment or rental properties,” Nani explains.

In addition to serving the military community, the team’s move-up business is thriving. As listing specialists, Lance says there are several reasons that their business continues to grow each year. “We are not afraid to have the tough conversations with clients. We are very knowledgeable

Nani Palmer & Lance Davis

about the markets we serve, because we believe in being subject matter experts. We believe in over communication, and are committed to telling our clients what they need to hear, rather than what they want to hear,” he says.

Their knowledge, experience, and unmitigated integrity have resulted in a business that is 82% from referrals and repeat clients. When asked what keeps clients coming back and referring he and Nani to their friends, families, and colleagues, Lance says simply, “We do the right thing, and we strive to give everyone a wow experience.” Nani expands upon that by adding, “Our clients are not just a transaction; they become a part of our family.”

Beyond helping buyers and sellers, the family owned and operated team is deeply committed to giving back to their local community. From sponsoring local school sports teams, to hosting coat drives for homeless shelters, to supporting their church, Nani and Lance are driven to treat everyone the way they would like to be treated. “We value family and community. The relationships we’ve built in the community are so important to us,” Nani says.

Clearly hard work and service-driven efforts have proven to be the key to success for Les Bailey and Associates, as the team closed more than 100 transactions last year, and plans to double that number in the coming year. In fact, the team is currently adding new buyer’s agents, as they look ahead to expanding into other markets in the future.

This expansion gives both Nani and Lance a welcome opportunity to help others, as they both enjoy coaching and mentoring new agents. “Being able to help others build a great business for themselves is very rewarding,” Nani says. Yet, even as their team continues to grow, rest assured Nani and Lance aren’t going anywhere. “I’m having way too much fun to ever leave real estate,” Lance says. “There isn’t one day that is the same. Some of the challenges may be similar but because we are working with people, each day is different. We love coming up with creative solutions for all of our buyers and sellers.”

Nani Palmer & Lance Davis Les Bailey and Associates Team | Keller Williams | Eagle River, AK 907.694.1234 | team@lesbaileyandassociates.com | www.lesbaileyandassociates.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

Initial investment—

7 Things you need to know before investing in real estate If you’re considering investing in real estate, rest assured you’re in good company. Millions of Americans have successfully done so in the past, and countless others continue to do so each year. However, that’s not to say that being successful with real estate investments is guaranteed. Like all investments, real estate comes with its own set of risks, so it’s not a decision to be made without careful consideration and planning. Here are seven essential factors you need to consider before purchasing your first investment property.

You’ll Need to Do Your Homework — Before you decide to take the plunge into real estate investing, spend time talking with other investors, with your financial advisor, asset manager, or CPA. Seek out advice from those who have experience in real estate investing, and learn as much as you can through research. When it comes to investing in real estate, knowledge is power. Running the Numbers is Necessary — Investing in real estate will require that you have an incredibly solid grasp on your financial status. If you’re investing to become a landlord, know roughly what rental rates Copyright Featured Agent Magazine

the market will bear. Keep in mind that real estate as an investment is only lucrative if you earn money from it, either in the short term or long term. Basing your decision to invest in real estate based solely on an expectation of rapid appreciation can backfire.

Be Sure You’re Ready to be a Landlord — Being a landlord comes with its own unique set of challenges. Anyone who has been a landlord for at least a few years will confirm that things can and will go awry with tenants. Your property may be damaged, or your tenants may be difficult. They may pay rent late, or they may be noisy. Consider that these possibilities are very real, and determine whether you want the responsibility of handling these issues if and when they arise. Even if a property management company assumes the bulk of the responsibility for your property, at the end of the day, you are ultimately the owner, which means that you’ll be obligated to make tough decisions from time to time. Take an Honest Look at Your Liquidity — As a real estate investor, you need liquid capital on

hand. Appliances break, roofs leak, carpets need replacing, and rooms need to be repainted. You’ll need to make sure you have a reasonable cushion of cash on hand to be able to cover the costs of repairs, maintenance and cleaning of an investment property. Weigh the Pros and Cons of a Live-In Property — For your first investment, it is more than worth considering the possibility of living in the property. You may find a home with apartment units attached, for example. Or you may invest in a duplex or triplex, and choose to live onsite in one of the units. First-time homebuyers often find this option to make a great deal of financial sense. Lead with Your Head, Not Your Heart — Unlike buying a first home to live in, or upgrading to your dream home, purchasing investment properties should not be an emotionally driven decision. On the contrary, falling in love with the way a property looks doesn’t necessarily mean it’s the right property to purchase as an investment. Remember that real estate 10

investing is by and large a business decision, rather than an emotional decision, and you’ll be more likely to save yourself time and money.

Have Realistic Expectations — Very few people get rich quick from real estate investments, and those who do are typically investors with years of experience. Furthermore, if you’re hoping to make a lot of money from a real estate investment, but opt for a low down-payment loan, chances aren’t good that you’re going to see that dream through to fruition for quite some time.

Becoming a real estate investor has proven to be a dream come true for millions of Americans, and there is no reason why it can’t be the same incredible experience for you. However, investing in real estate is not a decision that is best made spur-of-the-moment. Take time to explore your options, research the markets where you are hoping to invest, and ask for help from experts. You’ll find that the time you put into planning a smart investment strategy will prove invaluable over time. Copyright Featured Agent Magazine

Michael Menin

“Real estate is not just my job, it’s a lifestyle that is driven by my passion for real estate. I love helping people,” says Michael Menin, who has been helping buyers and sellers throughout Seattle, Bellevue, Kirkland, and the greater Eastside for more than a decade. Indeed, Michael says that his work as an advocate for clients is driven by the morals and values instilled in him from the time he was a child.

“I was raised in Issaquah by a wonderful mother who always taught me to do the right thing. I believe that shows through in the way I help people. The way I treat my clients is the way I want to be treated. That means I go the extra mile. I am available to answer calls 24/7. I strive to be compassionate, pleasant and to always do my best. I have strong negotiation skills and I’m a tenacious go-getter. Buying or selling a home can be very stressful, so I do everything I can to take away the stress from my clients so they don’t feel it,” he explains. “My goal is to make it an enjoyable and fun experience.” Thus far, it is clear that Michael is living up to his own high standards. With a client base that is 75% by

referral and repeat clients, he’s earned respect and rave reviews from a long list of buyers and sellers over the past 13 years. This can be seen through awards such as the Seattle Five Star Agent Award, and Best in Client Satisfaction Award bestowed upon him by Seattle Magazine, each year since 2011. Moreover, he has been included amongst the top 7% of Seattle Agents for years. In addition, Home Choice Warranty has also named him the #1 Agent in Seattle. Michael was also recently awarded the Century 21 Centurion Award for his sales production, which is one of the most prestigious awards presented to a CENTURY 21 producer. In fact, only a small number of sales professionals in the CENTURY 21 System ever reach this elevated status, effectively placing Michael among the top 5% of real estate agents in the country.

A consistent multi-million-dollar producer, Michael says that the secret to his success in real estate can be traced to his motivation, coupled with his experience. He recalls being told early in his career that a true passion for his work would be the key to success,

“I remember being told to find my passion, because passion would make me successful. The business will come if you’re in a career you love. That has been my experience.” and he’s found that advice to be absolutely true. “I remember being told to find my passion, because passion would make me successful. The business will come if you’re in a career you love. That has been my experience,” he says.

With a degree in marketing and business administration, and utter devotion to doing what is in his clients’ best interests, Michael is certainly doing what he loves. “I have a straightforward, honest approach to real estate, and I serve my clients as a consultant. I take a look at every single client — who they are, and what their needs are — and then focus on providing a real estate experience that is right for them. I listen, I pay attention, and I adjust what I need to do, to guide them through to the right place,” he says. “My goal is to earn their trust, and I do that by focusing on them, not on me,” he adds. Copyright Featured Agent Magazine

“I believe in giving back. If you are able to give back, to help someone else before you help yourself; that’s where true success comes from.”

Fortunately for Michael, giving his clients undivided attention, and custom tailoring each real estate transaction to perfectly align with his clients’ needs is what makes his job so rewarding. “I’m never doing the same thing. It’s exciting, it’s fun, and I love the challenge of finding solutions for each client, by constantly coming at each experience from a new and different angle,” he says.

Make no mistake, Michael’s passion for helping others isn’t limited to just working with buyers and sellers. Holding his managing broker’s license, he also relishes training and mentoring new agents, along with giving back to his community. Just a few of the charities he’s been involved with over the years include Feed Our Children, and PS, I Love You. He’s currently researching additional charities in which to become involved.

“I believe in giving back. If you are able to give back, to help someone else before you help yourself; that’s where true success comes from,” he says.

Michael Menin Managing Broker | CENTURY 21 NW 425.941.7121 | MichaelMenin@Comcast.net | www.MichaelMenin.com 14

Top 10

Reasons to use a REALTOR®

With so many online real estate resources available today, it’s tempting to think you can buy or sell a home without the help of a professional. But there are lots of great reasons you should use a real estate agent. Here are our Top 10: Market Knowledge — Savvy agents stay up-to-date on everything that’s happening in their local real estate market. Objectivity — Real estate transactions are inherently emotional; an agent can help you keep things in perspective. Negotiating Skills — Having someone negotiate on your behalf is priceless. Look for an agent who has the CNE (Certified Negotiation Expert) designation for even more skill. Inside Information — Agents are often ahead of the MLS when it comes to new listings.

Emotional Support — Who can you call at 3am because you’re just not sure about the color of that bathroom tile? Your agent, of course!

Trusted Partner Network — Agents spend a lot of time building up networks of trustworthy service providers.

Professional Marketing — When it comes to listings, image is everything. An agent has access to the pros to make your house look amazing online (and IRL).

Guidance with Inspections — An agent will negotiate the most crucial fixes to help ensure a deal doesn’t get derailed by the property inspection.

Ethical Treatment — All REALTORS® must follow a strict code of ethics designed to protect their clients.

Support at Closing — Your agent will be your partner throughout the process and help you understand everything that happens at the closing (and probably take you out to celebrate after!). Copyright Featured Agent Magazine

Make the most of small space living

The Tiny House Movement is one of the fastest-growing housing trends in recent memory. Tiny houses are fully functional mobile living spaces that measure from 100400 square feet. Obviously, fitting all of life’s necessities in such a tiny space poses many challenges. But you don’t have to live in a tiny house to face the realities of small space living. Studio apartments, loft spaces, cottages and many other small spaces all present similar issues. Here are seven ways you can maximize small space living to create a comfortable, well-organized and stylish home. Take Care with Color — Adding color to walls is one of the fastest, easiest, most affordable ways to add character and personality to a room. But be careful when you’re working in small spaces, because the wrong color can make your room seem smaller than it 16

actually is. Avoid dark colors and stick with lighter hues to make the space feel more open.

Embrace Light & Reflection — Keep window coverings light, both in color and materials. Heavy window coverings will make rooms look and feel dark and claustrophobic. Stick to lighter colors and airy fabrics that allow light to filter through, even when closed. Another trick is to let curtain rods extend past the ends of windows on either side to create the illusion of width. Mirrors are another great way to visually trick the eye into thinking a room is larger than it is. Bonus points if you can hang a mirror across from a window to capture and reflect even more light. Make Furniture Multi-Task — When you live in a small space, everything should have more than one

You don’t have to live in a tiny house to face the realities of small space living. Studio apartments, loft spaces, cottages and many other small spaces all present similar issues.

Get Control of Clutter — Clutter is the enemy of small space living. When every available surface is covered with mail, magazines, clothing and other everyday odds and ends, the space looks messy and unfinished. One way to keep clutter under control is to practice the rule all minimalists live by: one in, one out. That simply means every time you bring something new into your space, an equivalent item has to go. If you buy a new pair of shoes, for example, you have to get rid of a pair you already have, and so on. It’s definitely challenging, but it will make you think twice when tempted to purchase something on impulse, knowing that something you already have will get the axe.

purpose. Think ottomans that double as storage space, tray tables that pinch hit as end tables, and dressers that serve as nightstands. If you live in a studio space, it’s practically illegal to have a sofa that doesn’t fold-out into a bed. And remember seeing Murphy beds (also called wall beds) in old black and white movies and TV shows? They’re making a comeback and can solve a multitude of small space furniture and storage issues. Keep Floors Clear — Crowding the floor with baskets or bins for storage may seem practical, but it will make room look and feel smaller. Open things up by keeping floor space clear and moving storage up to the walls (or even the ceiling, in some cases). Shelves, hanging baskets, peg boards and other storage solutions will keep floor space free. Copyright Featured Agent Magazine

Utilize Hidden Spaces — The space under, in between or behind furniture is no longer just a place for dust bunnies to collect. When you live in a small space, it can be used for valuable storage. You can get specialized storage bins made to slip under the bed or simply use your imagination to decide what goes where, like slipping a folding tray table under the couch or hanging an ironing board or shoe rack behind a door. Keep it Extra Clean — Speaking of dust bunnies, small spaces need to be cleaned more frequently and thoroughly than their larger counterparts. It’s easy to ignore dusty corners or a too-full trash can in a large space, but everyday messes add up quickly when there’s not a lot of room. Take some time at the end of every day to do a quick cleaning and you’ll keep your small space feeling tidy and inviting. 17

Make your mark—

5 Ways to stand out If it seems like everyone you meet knows someone who is “in real estate,” there’s a good reason for that. There are approximately 2.5 million licensed real estate agents in the United States. But, only about 20 percent of those agents are responsible for more than 80 percent of closings. Still, with such a crowded field, it can be challenging to stand out and rise above the masses. Here are several things you can do to connect with clients and potential clients and become one of the go-to real estate professionals in your community.

Become a Local Expert — A lot of agents will say they know their communities, but how many actually do? Take a deep dive and learn about everything your clients will want to know: schools, employers, 18

hospitals and health care providers, places to worship, where to shop and what to eat. Go outside your comfort zone and daily routine and think about what others with a different lifestyle will want to know. Find the best vegan restaurant, discover where someone can get the perfect cup of coffee on their morning commute, and learn which park has the best playground. If you’re a Millennial, investigate recreational opportunities for retirees. If you’re a baby boomer with an empty nest, get back in touch with the school system so you can share that information with clients who have young children. Creating deep connections in the community not only means you have more knowledge to offer your clients, it helps you develop your pipeline of referral partners. Copyright Featured Agent Magazine

Real estate is such a crowded field. It can be challenging to stand out and rise above the masses.

purchasing Twitter ads to increase your reach; it’s a small investment that can pay off big.

Stay True to Your Brand — Now more than ever, consumers are bombarded with a steady stream of marketing messages at every turn. That’s why it’s so important to maintain a consistent look and feel for your messaging across all channels. You want to reach the point where prospective clients recognize that something is coming from you, even before they look for your name. Using a consistent color scheme, font, message tone, and style of photography across all digital and print media helps to establish and reinforce your brand identity.

Make Social Media Matter — At this point, it’s no longer a question of if real estate professionals should use social medial. If you’re not, you are missing out on opportunities to connect with clients and prospects in a meaningful way. The most important thing with social media is to think before you post, and ask yourself if it’s something your clients need or want to see. Make an effort to offer social media content that is simultaneously useful, relevant, and enjoyable. Post updates on market conditions, your latest listings, links to your blog and content you find informative, and inspiring, motivational quotes. Remember, consistency is key. Only posting a few times a month if you happen to remember makes it seem like an afterthought. For extra impact try “boosting” Facebook posts or Copyright Featured Agent Magazine

There’s Always More to Learn — You know those REALTORS® who have the alphabet soup of designations after their name? They’re on to something. Achieving specialty designations shows clients you are serious about real estate and in it for the long haul. Plus, knowledge is power. Staying educated on what’s happening in the constantly evolving world of real estate will give you an advantage over agents who haven’t cracked a book since they first studied for their license. Consider Coaching — While it’s not the right fit for everyone, enlisting the services of a real estate coach can be the push many agents need to rise above and reach the next level. Having an objective outsider look at your business can help move you past your comfort zone and see opportunities for growth you might be missing. Plus, having someone who is on your side and invested in your success feels inspiring.

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