residential
sep + oct
B US I N E S S I N TELL IGE N CE FOR THE CR S PROFE S S IONA L
2015
THE
SPECIALIST ALSO IN THIS
ISSUE
Natural disasters & the market Managing online reviews REALTOR速 safety issues
Handling difficult clients Networking via social media Energy-saving home products
THE
INVEST MENT ISSUE Working with real estate investors
WHERE ARE THE
HOTTEST MARKETS?
WHAT FEATURES
ARE BUYERS LOOKING FOR? PLUS
WHAT YOU NEED TO KNOW ABOUT
INTERNATIONAL CLIENTS
CharaCter and
Commitment
Your reputation is everything to you, and it means everything to us. When you refer your clients to Pillar To Post Home Inspectors, you are trusting us with your good name, and we’ll always deliver on our promise of professionalism, character, and integrity.
pillartopost.com
1-800-294-5591
Choice of exclusive Home Inspection Packages E&O insurance to protect the referring agent Report delivered on site at the time of inspection
contents
Sep 20 Oct 15 vol. 14, no. 5
the
INVESTMENT ISSUE 21
18
FOLLOW THE MONEY
GLOBAL WARMING
Finding and managing international investor clients
How to work with real estate investors
by Regina Ludes
by Daniel Rome Levine
PLUS
24
COMING FOR AMERICA
Where is all that global money going?
26
DISASTER AREA
When catastrophic natural disasters strike, REALTORS速 play a critical role in helping communities recover By Donna Shryer
30
CRITICAL ASSESSMENT
How to cultivate positive reviews and boost visibility to prospective clients By Gwen Moran
20 15
The Council of Residential Specialists
crs.com
1
Sep Oct
contents
departments
Sep 20 Oct 15 vol. 14, no. 5
8
4 VANTAGE POINT
By Dale Carlton, CRS
5 SHORT LIST
Zombie foreclosures are on the decline, but Americans are still worried about the housing market.
9 COOL STUFF
Cut utility bills down to size with these new energy-saving tools and appliances.
10
12
37
10 SMART SOLUTIONS
11
Expand your network with the power of social media. By Heather R. Johnson
12 INSIDE TRACK
REALTORS® can stay safe by being prepared for the unexpected. By Cheryl Winokur Munk
14 WINDOW OF OPPORTUNITY
Savvy REALTORS® know how to work with demanding clients who seem to have a problem with every part of the transaction process. By Cheryl Winokur Munk
inside CRS 37 NEWS FROM THE COUNCIL
Come to Orlando for Sell-a-bration® 2016! Plus, get the most out of the new CRS Referral Network, and mark your calendar for the CRS Annual Business Meetings at the NAR Conference & Expo.
16 PEER TO PEER
Tonyeil Spencer, CRS, of Spencer Realty, LLC, Aurora, Colorado
34 WORK + LIFE
39 LEARN FROM THE BEST
REALTORS® need to understand the consumer’s journey and develop strategies to help them connect.
Captivology: The Science of Capturing People’s Attention, by Ben Parr
By Frank Serio, CRS
Reviewed by Allan Fallow
+
48
Just Listen Download these four awesome podcasts for some absorbing autumn listening.
40 CRS CONNECT 48 ASK A CRS
Advice from the country’s top agents.
ON LY A T TR S MAG. C OM THE RESIDENTIAL SPECIALIST ONLINE Visit the new website at trsmag.com to access the digital edition of The Residential Specialist.
#oops!
SOCIAL MEDIA DOs AND DON’Ts How do you solicit positive reviews? When have you tweeted too much? Learn the rules from the experts.
WHY WORK WITH A CRS? Jeff Dowler, CRS, discusses why it’s important for home buyers and sellers to use a REALTOR® with the CRS Designation.
Coming Next Issue ... B US I N E S S I N TE L L I GE N C E F OR TH E CR S PR OFE S S I O NA L
Zillow’s Rise and Its Effect on the Market You can no longer ignore the online portals. Learn about Zillow’s beginnings as a startup and how its recent acquisition of Trulia has affected the market. Historic Homes What unique factors should CRSs take into account when helping a client buy or sell a historic or unique home, or a home designed by a famous architect?
EDITOR Michael Fenner mfenner@crs.com 800.462.8841 2015 COMMUNICATIONS ADVISORY PANEL Moderator: Lois Cox, CRS Co-Moderator: Marylea Todd, CRS 2015 COMMUNICATIONS ADVISORY PANEL MEMBERS Paula Angelopoulos Urbinati, CRS Bradley Fry, CRS Daniel Kijner, CRS Susanna Madden, CRS Colleen McKean, CRS Sandy McRae, CRS Georgia Meacham, CRS Margie Medlin, CRS Thai-Hung Nguyen, CRS Sandra Nickel, CRS Vivian Pike, CRS Debbie Solano, CRS Paul Wilson, CRS Arleen Yobs, CRS STAFF WRITER Charlee Gibson CONTRIBUTING WRITERS Heather R. Johnson Daniel Rome Levine Regina Ludes Gwen Moran Cheryl Winokur Munk Donna Shryer OFFICERS: 2015 President Dale Carlton, CRS Chief Executive Officer Lana Vukovljak 2015 President-Elect Janelle Pfleiger, CRS 2015 First Vice President Leigh Brown, CRS 2015 Immediate Past President Ron Canning, CRS
PUBLICATION MANAGEMENT 847.205.3000 www.glcdelivers.com Publishing Manager Phil Malkinson Art Directors Scott Oldham Ivette Cortes Advertising Manager Michael J. Mrvica M.J. Mrvica Associates, Inc. 856.768.9360 mjmrvica@mrvica.com The Residential Specialist is published for Certified Residential Specialists, General Members and Subscribers by the Council of Residential Specialists. The magazine’s mission is: To be a superior educational resource for CRS Designees and Members, providing the information and tools they need to be exceptionally successful in selling residential real estate. The Residential Specialist is published bimonthly by the Council of Residential Specialists, 430 North Michigan Ave., Suite 300, Chicago, IL 60611-4092. Periodicals postage paid at Chicago, IL, and additional mailing offices. Change of address? Email requests to crshelp@crs.com, call Customer Service at 800.462.8841 or mail to CRS at the above address. The Residential Specialist (USPS-0021699, ISSN 1539-7572) is distributed to members of the Council as part of their membership dues. Non-members may purchase subscriptions for $29.95 per year in the U.S., $44.95 in Canada and $89.95 in other international countries. All articles and paid advertising represent the opinions of the authors and advertisers, not the Council.
Urban-Minded Suburbs Some suburbs are becoming more urban by enhancing public spaces and walkability. Is the trend catching on? Working with Clients Who Have Young Families Learn about strategies CRSs are using to successfully work with buyers and sellers with young families.
PLUS:
A recap of the Inman Connect conference in San Francisco, which focused on how innovation in real estate tech and practice is something to be embraced, not feared. Would you like to be a source for a future story in The Residential Specialist? Send an email to mfenner@crs.com
to be added to our potential source list. To see a list of the topics we’ll be covering, check out the magazine’s 2015 editorial calendar online at crs.com.
WHO ON YOUR
TEAM could benefit by receiving a personal copy of The Residential Specialist?
POSTMASTER: Please send address changes to: The Residential Specialist, c/o Council of Residential Specialists, 430 North Michigan Ave., Suite 300, Chicago, IL 60611-4092.
STAY INFORMED
COPYRIGHT 2015 by the Council of Residential Specialists. All rights reserved. Printed in U.S.A.
flagship magazine, The Residential Specialist,
The Council of Residential Specialists provides superior education, exceptional networking opportunities and critical resources. The Council’s delivers the latest industry trends, success stories and proven strategies to grow your business.
crs.com
To subscribe for yourself or a colleague, call 800.462.8841. Note: Members of the Council of Residential Specialists receive the magazine as part of their member benefits.
[vantage point]
from the desk of Dale Carlton, CRS, 2015 president
LET’S TALK
business Ø
Photo: Adam Murphy
Fall is here, and before you know it we will say farewell to 2015. As you begin to wind up the year, I encourage all of you to plan on attending Sell-a-bration® 2016. The theme of Sell-a-bration® 2016 says it all: “Let’s Talk Business.” As agents who have attended previous events can attest, Sell-a-bration® provides a prime opportunity to learn new tactics and strategies from experts, network with top producers and gain a fresh perspective on how the latest industry trends affect your business. So please join us in Orlando, Florida, for next year’s conference, which will be held at the Loews Royal Pacific Resort Feb. 8–9, 2016. I will be teaching a pre-conference course, Win-Win Negotiation Techniques on Feb. 7, 2016, focusing on key techniques for facilitating a successful negotiation from start to finish. Last year we broke the record for pre-conference course attendance and I anticipate the 2016 version will be just as well attended. Members can sign up for Sell-a-bration® 2016 and the pre-conference course by visiting crs.com/events/sell-a-bration. The Council is working hard to bring additional education, networking and referral benefits to all our members. For example, the recently-launched CRS Referral Network includes: ÄA Ä new-and-improved, user-friendly “Find a CRS” tool. We’ve added the ability to search by zip code, and it now offers enhanced sorting and filtering capabilities. ÄThe Ä innovative “CRS Qualified Consumer Leads” program powered by ReferralExchange. This exclusive and free service delivers pre-qualified consumer leads directly to CRS Designees. We urge you all to check out the CRS Referral Network, dive in and start reaping the rewards. Learn more at crs.com/ReferralNetwork. I know many of you already have — we’ve received lots of great feedback — but please let us know what you think! As we continue to improve and expand our member benefits even further, we urge you to get involved and help spread the word about all the wonderful things going on at the Council. See you in Orlando!
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SELL-A-BRATION® PROVIDES A PRIME OPPORTUNITY TO LEARN NEW TACTICS AND STRATEGIES FROM EXPERTS, NETWORK WITH TOP PRODUCERS AND GAIN A FRESH PERSPECTIVE ON HOW THE LATEST INDUSTRY TRENDS AFFECT YOUR BUSINESS.
[short list]
+ industry headlines + statistics + trends
zombie K C A T AT
policy h public Althoug helped er res have b u s m a u e n l m of foreThe tota bie this type such as t m a o b z d m e o c ll of so-ca markets d epresente closure in iami and Clever s e r u s ,M foreclo rcent, of Chicago ys, high or 24 pe s e ti study sa r e e p 127,021, th o r , the p d . n .S la 47 U found in e ll th ti s in e r e the 527,0 a r and New rates foreclosu , Tampa y e s r in active rter of 2015, Je ion, 91 New ua . In addit tan y d ts e tu k s r t a second q n m e c York etropoli g to a re the 183 m is report accordin ac. Zombie foref o t u o yTr died in th here by Realt zombie areas stu homes w has e r a s crease in to a e r in s n s a e closu c d o r logge losure p ompared the forec the homeowner losures c c e r fo ut . erty. begun, b t value year ago the prop d te a c ge marke ecloa ich a v r h e w v , a has s e e Th for pty hom r-vacated 6, e n w These em need of repairs o n a in s $195,85 age ed of are often in Q2 wa s inhabit e e r m u e aver ti s e m o , below th -occut n e c and are s s or drug dealers r e r 22 p er of owne 36). by squatt home values in ket value r 1,2 a 5 2 m ($ s n w losure c e r drive do arket. fo d pie e footage m ge squar forea r e the local v a e Th ted ner-vaca of an ow 1,718, a Q2 w s in e r u s clo verage t of the a ner-ocn e c r e p 92 ow otage of square fo closures (1,873). re cupied fo verage estia w The lo of an ket value sure r a m d te a m eclo cated for y 1,040 a r e -v r v e e n f o w these o out ates “how ting In Q2, 1 closure tr s e r n o fo m in e d ibu units foreare contr hoods d s housing te ie a b c a m o -v z wner ighbor was an o is figure is down ght in ne li b to y,” says Th e countr 015 th 2 closure. s 1 s presiQ o r c m a ist, vice nt fro u e c q m r o e m r p f lo t 1 B 1 cen Daren n 10 per altyTrac. and dow ent at Re d . o g a Biggest in a year
Ø
c foreclosu reases in zombie res:
New York Los Angeles Houston Philadelphia Boston
Biggest d ec foreclosu reases in zombie res:
(up 38 % ) Chic a go (up 39 % ) Dall as (up 38 % ) Mia mi (up 19 % ) Atla nta (up 14% )
Phoenix
20 15
(down 28%) (down 27 %) (down 46%) (down 33%) (down 14%)
The Council of Residential Specialists
crs.com
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Sep Oct
worried LIVES
[short list]
Ø
+ industry headlines + statistics + trends
A majority of Americans think the country has still not escaped the prolonged housing crisis, according to a new report by the MacArthur Foundation. The study finds that Americans believe it is harder than it used to be to attain a secure middle-class lifestyle and it’s significantly more likely for a family to fall from the middle class than to join it. Three in 5 Americans (61 percent) believe we are either “still in the middle” of the housing crisis (41 percent) or “the worst is yet to come” (20 percent). This is an improvement from 2014 (a combined 70 percent) and 2013 (77 percent), but the persistence of such pessimism indicates ongoing consumer concerns about housing affordability and lingering economic trauma, the study says. More than half of the consumers surveyed (55 percent) say they have had to make at least one sacrifice or tradeoff in the past three years to cover their rent or mortgage. One in 5 (21 percent) say they have had to get an additional job or work more, 17 percent stopped saving for retirement, 14 percent accumulated credit card debt and 12 percent cut back on healthy nutritious foods. U.S. residents who are most affected include renters (73 percent), racial minorities (68 percent of Hispanics and 62 percent of African-Americans), millennials (67 percent) and city dwellers (64 percent). Majorities of Americans continue to believe that it is challenging to find affordable rental housing in their own communities (58 percent in both 2014 and 2015), and housing to purchase (60 percent in 2015, 59 percent in 2014), and even more challenging for families at the median income level (65 percent), young adults (80 percent) or families Those describing themselves as worried and concerned at the poverty level (89 percent). about the nation’s future: Four in 5 Americans (79 percent) say it is more likely for “middle-class people (to fall) into a lower economic class” than for “people in lower economic classes (to rise) into the middle class.” This belief persists across political party, age and income level, the study finds. “Decent housing at an affordable price remains a challenge for an Those describing themselves increasing number of Americans, even after the recession has formally as hopeful and confident ended,” says MacArthur President Julia Stasch. “This survey is a wake-up about the nation’s future: call. People want and expect solutions to the housing crisis to be a higher priority for both national and local leaders alike.”
60
%
32
%
RULED BY EMOTIONS Since 2014, more than 1 in 4 home sellers in the U.S. sold their home in less than two weeks. But a new report by Coldwell Banker Real Estate finds that those sellers are twice as likely to choose an offer based on
Sep Oct
6
emotion rather than money alone, compared to sellers in pre-recession years. Prior to the recession, approximately 20 percent of sellers accepted an offer based on emotion rather than money alone. From 2006
The Residential Specialist trsmag.com
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to now, that number rose steadily to 36 percent — an 80 percent increase. “There is a notable difference in seller psychology today compared to 10 years ago,” says Budge Huskey, president and CEO of Coldwell
Banker Real Estate. “The national housing market has changed significantly over the past decade, and seller sentiments have evolved. Home sellers often want to feel emotionally connected to the buyer. These findings should
give solace to buyers in highly competitive markets who may present a compelling story as to why they should be the next owners of the home.” The full survey results are available at bit.ly/1HWX1eu.
fall CHECKLIST Ø
Soon the leaves will be falling and cooler breezes will blow as autumn arrives. Now is the perfect time for homeowners (and sellers) to get their properties in shape before winter rolls in to help avoid problems in the months ahead. Pillar To Post Home Inspectors offers these suggestions that REALTORS® can give their clients and potential clients to help them protect their homes:
❑
Seal it up
Caulk and seal around exterior doors and window frames. Look for gaps where pipes or wiring enter the home and caulk those as well. Not only does heat escape from these openings, but water can enter and cause mold problems and even structural damage.
❑
❑
Look up
Check the roof for missing or damaged shingles. Water, wind, ice and snow can cause serious damage to a vulnerable roof, leading to a greater chance of further damage inside the home. It’s best to have a qualified professional inspect and repair the roof, but a preliminary survey can be done from the ground using binoculars.
❑
❑
Clear it out
Clear gutters and eaves of leaves, sticks and other debris. If the gutters can accommodate them, leaf guards can be real time-savers and can prevent damage from clogged gutters. Check the joints between sections of gutter, as well as between the gutter and downspouts, and make any necessary adjustments or repairs.
❑
Warm up time
No hose
In climates with freezing weather, garden hoses should be drained and stored indoors to protect them from the elements. Shut off outdoor faucets and make sure exterior pipes are drained of water. Faucets and pipes can easily freeze and burst, causing leaks and increasing the potential for serious water damage.
The furnace should be inspected to ensure that it’s safe and in good working order. Most utility companies will provide no-cost inspections, but there can often be a long waiting list in the fall and winter. Replace disposable furnace air filters or clean the permanent type according to the manufacturer’s instructions. Using a clean filter will help the furnace run more efficiently, saving money and energy.
Light that fire
Homeowners can safely enjoy the fireplace on a chilly fall evening if the firebox and chimney are professionally cleaned before use this season. Creosote, a byproduct of wood burning, can build up to dangerous levels and cause a serious chimney For more fire if not removed.
information, visit www. pillartopost. com.
With these easy steps, your clients will enjoy the comforts of their home all season long and know that they are protecting their investments, too.
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[short list]
+ industry headlines + statistics + trends
“ INDIVIDUALS WHO IDENTIFY THEMSELVES AS LGBT REPRESENT AN ESTIMATED BUYING POWER OF $840 BILLION AND REPORTEDLY LIVE IN 99.3 PERCENT OF ALL COUNTIES NATIONWIDE.” —Jeff Berger, founder, NAGLREP
OPPORTUNITIES Ø
A recent study sheds light on the LGBT (lesbian, gay, bisexual and transgender) community’s homebuying habits and attitudes toward homeownership. The study, by Better Homes and Gardens Real Estate in collaboration with the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP), examines the LGBT community’s preferences, aspirations and mindset surrounding the homebuying process and homeownership in general. The LGBT Home Buyer and Seller Survey finds that 89 percent of LGBT homeowners and 75 percent of LGBT non-homeowners think home ownership is a good investment. Additionally, 81 percent of LGBT survey respondents feel the June 2015 Supreme Court ruling for marriage equality will make them feel more financially protected and confident — and presumably more willing to invest in a home, the study reports. In all, more than half (54 percent) of all LGBT respondents currently own some type of real estate. “Individuals who identify themselves as LGBT represent an estimated buying power of $840 billion and reportedly live in 99.3 percent of all counties nationwide,” said Jeff Berger, founder, NAGLREP. “The LGBT community is a key part of the nation’s landscape and a powerful market segment that is increasingly achieving social milestones that are historical triggers to home purchases, such as partnerships, marriage and having children.” The survey reports that 88 percent of respondents list neighborhood safety as a top priority when purchasing a home. Further, a majority of respondents look to live in a neighborhood with low crime (80 percent), live in a state with an LGBT anti-discrimination ordinance (75 percent) and live in a progressive community (70 percent). When it comes to looking for a REALTOR®, the study finds that 93 percent of LGBT buyers are most concerned about selecting an agent with an excellent reputation who is LGBT-friendly (86 percent). Only 13 percent think it is very important that their sales associate identifies as LGBT. Nearly 80 percent stated that being LGBT-friendly is more important than an agent’s years of experience. On June 26, 2015, the U.S. Supreme Court issued a decision making same-sex marriage legal across the country. Find the complete report at www.naglrep.com/ lgbtsurvey.
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AGENT PULSE
The decline in home sales last year resulted in a similar decline in REALTORS’® business activity and income, according to a recent report from NAR. Average number of transactions, 2013 Average number of transactions, 2014
$
47,700
Median gross income, 2013
$
45,800
Median gross income, 2014
REALTORS® are increasingly comfortable using multiple communication platforms to stay in touch with clients:
Telephone Text Messaging
93% 91% 85 % Meanwhile, NAR membership is getting older. The median REALTOR® age rose to 57 last year from 56 in 2013, and is up from the age range recorded from 1999 – 2008 (51 to 52). Under 30 30-44 % %
2
16
45-64 65+
57 % 25 %
powering
[cool stuff]
DOWN
acquisitions on a theme
Energy-saving products are increasing in popularity not only because of their environmentally friendly nature, but also because they save users money. Many companies have seen this trend and have created products in response to consumers’ growing desire to be less wasteful in their energy usage. Here are a few household products you may want to look into if you’re thinking about trying to save energy in your home.
WATER MANAGEMENT
DISHES DONE RIGHT
ELECTRICITY MANAGEMENT $
POWER PROTECTION
549.00
This dishwasher packs several energy-saving features into one easy-to-use appliance. SoilSense cycles determine the amount of water, energy and time each load needs, while the Triple Filter wash system wicks away food particles so you can skip the pre-rinse. The stainless steel interior retains heat so dishes dry in less time and can go straight from rack to cupboard. The tall tub fits more dishes, meaning fewer loads and less water.
Like other energy-saving surge protectors, the Isolé IDP-3050 Power Strip safeguards your electronic devices from sudden power surges while also cutting down on wasted power. But the Isolé takes the technology one step further with a personal sensor that can detect motion. Six of the eight outlets on the strip are controlled by the motion sensor, so if no motion is detected in the room, power is cut to those outlets.
amana.com
CLEAN & CONNECTED
Are you prone to laundry day distractions? With a little help from the Whirlpool Smart Washer, you’ll never forget your clothes again. The washer’s 6th Sense Live Technology connects to your smartphone, sending you alerts when cycles are done and allowing you to remotely start or pause the wash. Smart $ 1,699.00 Energy features track how much energy your appliance is using, and an EcoBoost option lowers water temperature and increases tumbling action to use less energy while maintaining performance.
$
89.00
wattstopper.com
whirlpool.com SMART HOME TECHNOLOGY
249.00
$
TOTAL CONTROL
Wasted energy and paranoia about whether you shut your garage door are things of the past with the HomeSeer HomeTroller-SEL. The HomeTroller-SEL lets you control SAFE HOUSE almost everything in your house Lowe’s predicts that 15 million homes with just a tap of your smartphone will have smart management systems touch screen. Lights, thermostats, installed in the next few years. Join door locks, cameras, garage doors the movement with the company’s Iris and water valves are just a handful Comfort & Control Kit. The kit includes of things you can control at home a smart thermostat and plug you can or remotely with the system. It control with your smartphone or comis compatible with Apple and puter to help save on energy usage. You Android smartphones and $ 95 399. can also access premium features such includes voice control as auto-off, which turns off devices features if you’re when energy consumption settings have using an Android been exceeded, for $9.99 per month. device. lowes.com
store.homeseer.com
SMART ENERGY
$
68.99
Vampire power could be sucking your wallet dry every time the electricity bill is due. Vampire power, also known as phantom power, is the energy drawn from electronics while they’re plugged into an outlet — even when they’re not turned on. If it’s a hassle to unplug every cord in the house, consider an energy-saving surge protector like the Tripp Lite EcoSurge. It includes seven “Power Save” outlets that cut power when devices such as TVs and lamps aren’t in use, and three “Always On” outlets provide continuous power to critical devices such as routers and DVRs. There are also 6-, 7-, 8- and 12-outlet versions. tripplite.com
HOME HEATING/COOLING
YOUR BIGGEST FAN
Don’t let the company name deter you — these $ ceiling fans combine technology and award-winning design to help 1,049.00 you stylishly save energy and money. A built-in computer and array of sensors monitor environmental conditions and occupancy, and learn your preferences to make adjustments. Each fan features LED lighting and 10 speed settings, and can be controlled remotely on your smartphone. The fans also come in 52" and 84" diameters and various colors and finishes. bigassfans.com
THE TIME OF DAY
249.00
$
The First Alert Onelink Thermostat has the features you’d expect from a smart thermostat — a WiFi connection and a mobile app to remotely control the temperature of your home and monitor energy usage. But this thermostat ups the tech ante by including a Time Period Scheduler, which automatically changes the temperature morning, day, evening and night every day of the week. You can also view three-day forecasts and local weather conditions so you can set efficient schedules in advance. For added personalization, upload photos to display on the screen. firstalertthermostats.com
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[smart
solutions]
streamlining your business through technology
VIRTUALLY
social
Expand your network with the power of social media.
connections, her main goal is to maintain contact. “The people I engage with the most care about my success and are like-minded,” she says. “I also support friends’ businesses, so it’s not just about real estate.” If relationships drive real estate, social media keeps the To rise above the din of billions of tweets, Mantia makes wheels in motion. In less than an hour a day, agents can effective use of hashtags, which help Twitter users find releput their names in front of thousands of people, establish themselves as a trusted source of information, and build and vant information, and she incorporates calls to action in her tweets. Mantia launched two successful contests via Twitter maintain relationships, all for little to no cost and without that got her name out in the “powerful, very referral-based” leaving the office. What’s not to “like?” market in Maplewood, Missouri. Both contests encouraged “Billboard signs and print advertising have gone by the people to post photos of themselves holding a Clarity Street wayside,” says REALTOR® Carolyn Mantia, CRS, brokerRealty water bottle for a chance to win a pair of baseball owner for Clarity Real Estate in St. Louis, Missouri. “Social tickets. As a result, Clarity Street Realty practically became a media has taken center stage. It can net an immediate household name in this small community. “What did it cost response and be very inexpensive.” me? About $50 for two sets of baseball tickets,” she says. Kay Conageski, a south Florida-based REALTOR® for The From Pins to Tweets Keyes Company, stumbled upon The Real Estate Social NetGena Gilbert, CRS, with NC Coastal Properties Keller work (RESAAS), an industry-focused social networking and Williams in Morehead City, North Carolina, along blogging site. It’s now a key component in her the Crystal Coast, has incorporated Internet social marketing plan. “The business I’ve been marketing into her plan since the mid 1990s. CLICKBOARD getting from them is amazing,” Conageski says. Now Gilbert showcases new properties on Face“The connections I’m making are better than any book and Twitter. She also posts photos of her other site I’ve used in the past five years.” home listings on her Pinterest board. “You have to stay on top of it and mark listings as sold when they close,” she says. “But the more photos The Real Estate Social Fresh, Local and Real Network you post, the better [your profile] looks.” Regardless of the outlet, agents will see more resaas.com Mantia connects with her wide circle benefit from sharing interests than sharing Active Rain of “friends,” as well as her local community, listings. Mantia created a Maplewood-Richactiverain.com through Facebook. Although she does receive mond Heights community page on Facebook Agents Wall referrals and new business from Facebook agentswall.com populated with local events, news items and By Heather R. Johnson
Ø
REAL ESTATE SOCIAL MEDIA
Sep Oct
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other neighborhood tidbits. When has also used the trendy Snapchat “ Billboard signs and print she ran a geo-targeted Facebook ad video messaging app with some advertising have gone by for the page, “the likes flooded in,” success. “If I see a house that a buyer she says. Those likes cost me about the wayside. Social media might like, I’ll use Snapchat to send a dime apiece.” a photo to the buyer,” she says. “It’s has taken center stage.” Real estate agents are experts in like a teaser. I’ve used it with a cou—Carolyn Mantia, CRS ple of buyers and they love it.” their communities by nature and should use social media to establish themselves as such. This builds trust among your followers. A Matter of Time “I provide a service while I also tell people who I am,” Mantia Because of social media’s relative low cost, to measure return says of her business and community pages. on investment is to measure time spent. Agents should ask Conageski combines scheduled Facebook posts related themselves, “Is there something you could be doing in the to home décor and real estate with community news and same amount of time that would make you more money?” says photos of happy new homeowners. “The [local] posts get Conageski, who spends a couple of hours each week on social shared like crazy,” she says. marketing. “What I do on social media gives me a greater return than Learn more in the CRS Follow the Trends some of the traditional methods.” online class, As technology advances at a breakneck pace, new social How does Mantia, who spends “Navigating media outlets seem to appear every nanosecond. While Face- about an hour a day on social marthe Social Media Maze,” book, Twitter and, to a lesser extent, LinkedIn and Google+ keting, measure success? “When at crs.com/ remain key players, it’s wise to stay abreast of the latest tools. people come up to me and say education/ courses/ Gilbert uses Instagram and LinkedIn and recently incorpo‘you’re everywhere,’” she says. on-demand/ rated Google My Business, which puts company information navigatingsocial-mediamore prominently on Search, Google Maps and Google+. Heather R. Johnson is a freelance writer based in maze. Conageski uses Instagram and plans to move into video. She Oakland, California.
GADGET INSPECTOR
THE G-TECHNOLOGY EVOLUTION SERIES IS FAST AND FLEXIBLE
THE POLAROID ZIP IS A SMALL PHOTO PRINTER FOR MOBILE DEVICES The Polaroid Zip mobile printer is instant gratification for smartphone photographers. About the same size as a deck of playing cards, the mobile printer uses heat-activated paper instead of ink and connects to both iOS and Android smartphones and tablets via Bluetooth. Using a free app, you can turn any photo on your device into a 2x3-inch full-color print in under a minute. The printer holds 10 sheets of the special Zink paper, which you buy separately, and a single charge lasts for about 25 prints. You can also create basic photo ID cards and mini collages with the app, and add various filters, frames, stamps, stickers and text to your photos. For more information, visit polaroid.com/zip-instant. Retails for $129.99.
The G-DRIVE ev from G-Technology hard drive holds 500 GB to 1 TB of data, depending on the model, and has transfer speeds up to 136 MB/sec via USB 3.0. If you pair it with the G-DOCK ev with Thunderbolt, transfer speeds increase to 250 MB/sec and storage doubles to 2 TB. The dock can hold two of any G-DRIVE ev series hard drives, giving you the potential to swap out drives with even faster speeds. Each drive and dock is compatible with Windows and Mac and comes with a 3-year limited warranty.
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THE AMAZON ECHO USES VOICE COMMANDS TO PLAY DEVICES
The Amazon Echo is a high-quality speaker that operates entirely by voice command — there are no buttons or remotes. The speaker connects directly with Amazon Music, Prime Music, Pandora, iHeartRadio and TuneIn, and also has full Bluetooth connectivity so it works with any streaming service on your phone or computer. The Amazon Echo provides 360-degree omnidirectional audio, and the highly responsive speaker has far-field voice recognition that picks up voices from across a room. For more information, visit www.amazon.com/echo. Available from $179.99.
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[inside track]
PLAY IT
what’s trending in real estate
safe
REALTORS® can stay safe by being prepared for the unexpected By Cheryl Winokur Munk
Ø
Staying safe on the job should be a big concern for all REALTORS®. Indeed, 40 percent of real estate professionals polled for the National Association of REALTORS® 2015 Member Safety Report say they’ve been in a situation that made them fear for their personal safety or the safety of their personal BY THE NUMBER S information. While REALTORS® can’t always avoid danger, prevention, avoidance and of members use a smartself-preservation phone safety app to track techniques can their whereabouts and alert co-workers in case help minimize risk, of an emergency. according to Erica Source: National Association of REALTORS 2015 Member Safety Report Ramus, CRS, a broker
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and owner of Ramus Realty Group in Pottsville, Pennsylvania. “Many agents don’t realize how dangerous this industry can be,” she says. Strategies REALTORS® employ to stay safe include pre-screening customers, keeping co-workers apprised of their whereabouts, having pre-planned escape routes and taking self-defense classes. Ramus, for instance, makes it a policy to meet customers in the office or another public setting before she goes out with them alone. Potential customers sometimes balk, but it’s a non-negotiable safety precaution in her office — even if it means losing a sale. A while back, Ramus got a call from a man who wanted her to hop in the car right away to show him one of her listings. She refused, explaining that she would be happy
to make an appointment to show him the property at another time, but she wanted to meet him at the office first. He became belligerent, but she stood her ground and politely referred him to another agency in town that wound up making the sale. Ramus had to share the commission, but she didn’t mind. “Safety first,” she says. Part of staying safe means keeping others informed about your whereabouts. In Ramus’s office, for example, the agents are encouraged to share their schedules using a Google calendar. She suggests they include the time and date as well as the name of the person they are meeting, that person’s cell phone or email address, and the itinerary. It’s also good to have a safety buddy you can call in case you run into a problem. Anne Feste, CRS, a REALTOR® with The Grubb Co. in Oakland, California, suggests having a pre-determined code phrase
like, “Can you send me the Jones file?” to inconspicuously alert your safety partner to call the police.
Expect the Unexpected
Staying safe also means being prepared for when things don’t go according to plan. Feste makes sure to wear clothes that allow her to keep her phone and car keys on her body and she never brings her purse into an open house. She advises agents who do carry a purse to tuck it away in their car trunk before arriving on site. To help protect herself, Nadine Krasnow, CRS, owner/broker at Falmouth Fine Properties in Falmouth, Massachusetts, took R.A.D. selfdefense training for women about three years ago. It only took a few hours and she takes yearly refresher classes at no additional cost. R.A.D. classes are offered nationally, often through police departments, and always with a certified trainer. She believes having the R.A.D. training earlier in her career might
have helped her better handle a situation in which a customer bumped up against her in the basement of a house she was showing. She managed to get upstairs and out the front door without further incident, but she feels R.A.D. training would have helped her react faster and not feel so vulnerable. She no longer goes into basements with customers who are strangers. For her protection, she also encourages owners to be home during open houses, a somewhat unconventional approach. “With just a bit of coaching, this goes really well, and establishes a friendly, open atmosphere — while keeping the agent from being alone and at risk,” she says.
Stop, Drop and Run
If for some reason you do end up in an uncomfortable situation, the trick is to get away as fast as possible. About three years ago, Ramus took a potential buyer into a vacant apartment she didn’t know was
SAFETY DOs AND DON’Ts
Keep your phone and car keys on your person at all times. Pre-screen all prospects in your office or a public place before showing them a property.
DO
Make sure a colleague, friend or relative knows your whereabouts. Have a code word or phrase that signals you’re in trouble and need someone to call 911. Leave one or two doors unlocked during an open house, in case a quick escape becomes necessary. Yell “fire” instead of “help” to attract more attention. Take a self-defense class. Wear flashy jewelry. Bring a purse to an open house.
DON’T
Let your car get boxed in. Park so you can make a quick getaway. Turn your back to a customer, ever.
“ Until you re in a situation where your heart is racing and you don t know what will happen next, it doesn t really hit home how dangerous the job can be.” —Erica Ramus, CRS
occupied by squatters. They got out right away without incident, but it left an impression. “Until you’re in a situation where your heart is racing and you don’t know what will happen next, it doesn’t really hit home how dangerous the job can be,” she says. John C. Stark, CRS, managing broker for the Des Moines, Iowa, office of Coldwell Banker, tells agents who find themselves in dangerous situations to yell “fire” as they’re running away. It’s a proven way of drawing attention, whereas a call for “help” doesn’t always yield the desired results, says Stark, a former Air Force intelligence officer who has conducted extensive safety training for 500 agents. Other tips: Always park your car in a way that will allow you to make a quick getaway if necessary. And never turn your back, not even for a moment. Always let clients go in front of you — when going into a house, as you are touring it and especially when walking up or down flights of stairs. Importantly, REALTORS® need to trust their guts when something about a client or situation seems off, Stark says. “You need to act on your instincts every single time. They will never fail you.” Cheryl Winokur Munk is a freelance writer and editor based in West Orange, New Jersey.
Hesitate to leave a property or cut short a customer meeting if you feel uncomfortable.
Find out more in the 2015 NAR Member Safety Report: www.realtor.org/ reports/2015-member-safety-report.
Ignore your instincts. Get away first, ask questions later.
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[window of opportunity]
strategies to grow your business
OBJECTION
overruled Savvy REALTORS® know how to work with demanding clients who seem to have a problem with every part of the transaction process. By Cheryl Winokur Munk
Ø
Several years ago, Donna A. Fries, CRS, began working with an attorney whose determination to underbid the market had recently cost him his dream house. Fries tried unsuccessfully for the next two-and-a-half years to find her client something comparable. Finally, when the beloved property came on the market again, she used a combination of hard data and psychology to talk him out of making the same mistake twice. “It’s not always easy working with a customer who thinks he knows everything, but if a customer has that type of persona, you don’t want to argue with him or step on his toes,” says Fries, a broker with Panhandle Beach Realty and Rental in Panama City Beach, Florida. Instead, Fries presented the attorney with irrefutable facts, such as the sale prices of other properties in the area. She also shared other eye-opening information, such as the amount the sellers probably have remaining on their mortgage. “It helped to sway his thinking that a lowball offer — $50,000 less than the listing price — wouldn’t work. From then on he trusted me and believed in me, and we ended up doing other business together,” Fries says. Customers come up with all sorts of objections during the sales process. These objections are often related to price, but not always. Many customers hem and haw
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about their ability to commit, the property itself and when the right time is to begin working with a REALTOR®. Many future objections can be prevented by finding out upfront what’s important to the customer using a questionbased approach. “A lot of agents’ problems start because they do not meet with their clients upfront and walk them through the process,” says Shawn Cunningham, CRS, a broker associate with RE/MAX Advantage in Las Vegas, Nevada. To be sure, objections from customers have intensified as websites such as Zillow and Trulia have made home-value information more widely available to the masses. While knowledge can make for more informed buyers and sellers, some real estate professionals find they have to work even harder these days to talk customers down from the clouds — or off the ledge.
Strategies for Success
To prevent unnecessary confrontations with customers, REALTORS® have a number of tools at their disposal. A solid first step is to meet in person with customers and
educate them about the local market, being sure to present the information in a way that doesn’t come across as overbearing. Often this requires patiently explaining to customers the limitations of data the client may have obtained from online listing aggregation sites. It also means gathering hard data, such as recent sales and property records, to corroborate their pricing recommendations. Mike Parker, CRS, a CRS senior instructor and broker associate with HUFF Realty in Florence, Kentucky, finds it helpful to use visuals wherever possible. For instance, he often prints out MLS listings for sellers so they can get a clear sense of what’s on the market, at what price, and with what amenities. “I want them to touch the paper and the ink. When they can see it, feel it and touch it, you get a little more buy-in.” Another approach that seems to keep objections at bay is to encourage buyers to think like sellers and vice versa, according to Cunningham of RE/MAX Advantage. For instance, if a seller whose house needs significant work has grandiose ideas about pricing, Cunningham will show him another nearby house that’s in much better condition and selling for less, and then ask which house he’d choose to look at first as a buyer.
Seeing the Customer’s Side
When dealing with objections, it’s important to consider the customer’s motivations. Brandi Pearl Thompson, CRS, a broker associate with Keller Williams in Chattanooga, Tennessee, nearly lost a listing once because the seller had seen the comps on Zillow and felt her recommended asking price was too high. The seller ultimately reconsidered, provided Thompson agreed to the lower price. The house sold in about three months within $2,000 of the customer’s desired asking price, and the seller was happy. “Never assume money is the total motivator,” she says.
“ It s not always easy working with a customer who thinks he knows everything, but if a customer has that type of persona, you don t want to argue with him or step on his toes.” —Donna Fries, CRS
What’s more, REALTORS® should never be dismissive of a customer’s objections; a collaborative approach will get you further. Mike Wallin, CRS, a broker with RE/MAX Premier Group in Longview, Washington, recently worked with a seller who wouldn’t budge from her asking price. Instead of digging in, he developed a strategy to meet the customer’s demands initially with the understanding that if there was no activity within a short predetermined period of time, she’d drop the price, and she would be willing to work with buyers who needed other concessions. He kept the client, and his marketing plan worked — the home sold quickly for her asking price. Wallin came away with a satisfied client and a friendly “I told you so.” “If she wasn’t willing and able to negotiate concessions with buyers, it would have never worked out. As it turned out, the seller was more flexible than she let on at the beginning, and we were able to get her the price she wanted, but it wasn’t without some other concessions to the buyers,” he says. For more Often handling customer objectips, check tions is a matter of helping them out the book Values-Based find their comfort zone. “It’s about Selling: The showing them they have options,” Art of Building High-Trust Client says Parker. Relationships, by Bill Bachrach, available at amazon.com.
Cheryl Winokur Munk is a freelance writer and editor based in West Orange, New Jersey.
HOW TO PREVENT RELATIONSHIP GLITCHES Maura Neill, CRS, a REALTOR® with RE/MAX Around Atlanta in Atlanta, Georgia, insists on having an initial consultation with all prospective customers. Not all real estate professionals are such sticklers for initial consultations, but Neill finds these meetings head off potential problems with know-it-all customers and set the tone for the entire relationship.
The purpose of the consultation is to help explain the buying or selling process from soup to nuts. Part of that is educating them about the difference between getting information from a REALTOR® and a third-party website, and to recognize that not everything they read online is true. The consultation also allows you to get to know customers — what they already know about the process and what their objectives
are. And it’s an opportunity to showcase your expertise: “By sitting them down and explaining the process to them, you’re establishing some trust and credibility,” Neill says. What’s more, the consultation process helps weed out customers early on who may not be the best fit. After all, “You don’t need to work with every single consumer who calls you,” she says.
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Spencer Realty, LLC, Aurora, Colorado
You have taken on homebuyers who have been through bankruptcy When you were or a previous facing your creditors, foreclosure as an did the process seem Over the last few years with the area of emphasis. unfair? Or did you nation’s economic What prompted you feel that it was just downturn, did to make this your the way of the world you find that special cause? and you had to cope Denver had more It came out of personal expesomehow? people facing this rience. In 2005, my husband There was a marked lack of difficulty or fewer? was diagnosed with congestive compassion. Compassion Denver was not hit as hard, heart failure and it hit us hard, dictates that you tell me how and we probably had fewer emotionally and financially. to fix my credit or how I can Because of his illness, he had navigate repayment of the debt. people facing foreclosure than the nation as a whole. to cut back on work, which I saw a need for educating But if my experience could affected our income. We were people who’ve been through What prompted living off of our savings, and devastating financial setbacks. make a difference for a single you to get the CRS person who needs it, it’s a our credit was affected. Just Designation? game changer. like many other Americans fac- What do you share I had finished getting my What would you ing a major illness in the family, with prospective GRI, and my GRI instructor like to share What other aspect this was totally unexpected; buyers who have said the CRS was the next with other CRS of the real estate we had huge hospital bills and been through a Designation to get. While the not enough money coming in members? business are you foreclosure? GRI courses taught practical I have just started getting interested in to meet our needs. When cred- I team up with lenders to knowledge and application, more involved in the CRS pursuing? itors started lining up, we had do workshops with buyers CRS went to the next level in no control. Fortunately, we did organization, but I am I want to work more with or owners to give them the terms of client relationships especially humbled every time repeat buyers, to show them not have to file for bankruptcy information they need to and best practices. I get feedback from another the differences between their or lose our home, but it was make informed decisions. I CRS! When someone I respect first foray and what they still a terrible ordeal. offer consultations; we walk What appealed to says there is something of should be thinking about We had to rethink the entire through the process of reyou most about value in what I have to say, as they move forward. As way we handled our finances. establishing credit and how CRS? it is a great feeling. I would REALTORS® and CRSs, we There was one lender who to avoid getting overextended are in the role of teacher for The Council of Residential like to thank my fellow CRS helped me; he gave me insight again. This consultation serfirst-time homebuyers. For Specialists is an organization members — I wouldn’t have into the process and told vice is not predicated on the clients’ second purchases, that focuses on its members — me exactly what to do. We the success I have without participants giving me their where they can share their my CRS family. This is a very got back on our feet quicker business — I’m fine with them they tend to see themselves more as investors, since they experience and knowledge. It unique organization in that because of his help. (I have going to another REALTOR®. About 8 out of 10 people understand how the process is a group formed by members been very loyal to him since CRS makes it personal. I am who take the workshops go will flow. I want to help them and for members. I found honored to be a part of this then, I tell you!) So, I wanted make sure they capitalize on other real estate organizaorganization and I appreciate to help other people who have on to buy — one person took 10 years — but just knowing that knowledge. tions to be more cutthroat its support. been in financial trouble see that someone is walking the and competitive among their difficulty as a hurdle to the members, while CRS is jump over — that it is possible journey with them and will Tonyeil Spencer achieved her CRS Designation in 2011. She can be reached at all about cooperation and to get your life back. It doesn’t not give up on them can help 303.991.3367 or visit www.tonyeil.com. member empowerment. have to be the end of the world. them stay the course.
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Photo: McCory James
[peer to peer]
profiles of people to watch
TONYEIL SPENCER, CRS
Tonyeil Spencer, CRS, enjoys bird watching, photography, hiking and camping. Spencer discovered a hidden space in a Denver suburb with trails and bird activity — a tranquil setting where she can reflect. She is also creating a program that provides household assistance for people with chronic illnesses.
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TION THE IN SE C V ES L A TM I EN EC P TR S
EA
L ES
HOW TO WORK WITH REAL ESTATE INVESTORS
TE TA
MA T RKE
NEXT PAGE by L IE DA N ME RO N E I LE V
PLUS
FINDING INTERNATIONAL BUYERS b REGy L UDINA ES
PAGE 21
FOLLOW the
MONEY WORKING WITH REAL ESTATE INVESTORS CAN BE A WISE INVESTMENT IN YOUR CAREER Helping clients who are buying properties as an investment rather than a place to call home can yield positive returns for you as well as for them. Knowing what it takes to succeed in this highly specialized market is critical. In the following pages, CRS members share their experiences and tips for success.
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trade
winds
G
TH IN WI V
PART
NUMBERS
1
One of the most important things to know when working with investor clients, says Bob Leonard, CRS, with RE/MAX Associates in San Antonio, Texas, is the complete absence of emotion involved in the transaction. There’s no beaming young couple here clutching their newborn baby as they prepare to enter their dream home for the first time. This is far more cold-blooded. “Your typical homebuyer is looking for a home they can fall in love with,” says Leonard. “Investors don’t have to fall in love with anything. It is strictly about the numbers. If the numbers work, the deal will work. That’s it.” Helping clients find the best investment properties requires researching and analyzing these numbers from many different angles — from the most basic, such as the sale and rental prices of comparable homes in a neighborhood, to helping an investor project their expected return on investment, monthly income, profit and likely appreciation. Leonard has been busy helping investors crunch the numbers. He says the local investment market is as hot as he’s ever seen it in his 30 years selling real estate in San Antonio. Activity is being driven by a strong local economy, affordable home prices, low taxes, rock-bottom interest rates and strong demand for rental properties from workers connected to one of the country’s biggest shale oil fields, which is nearby.
26% West
17 %
20%
Where in the U.S. are investors buying real estate?
37 % Midwest
South
Northeast
TORS ES
it’s all about the
WORKIN
[feature]
Average home prices sit at just over $200,000, a jump of $50,000 in the past two years, says Leonard, but still mighty affordable, especially to out-of-town investors from big cities like New York or Chicago. Leonard says a $200,000 single-family home in a good school district can easily generate over $2,000 a month in rental income for an investor. Why are investors buying real estate?
6%
7%
8%
10% 15 %
37 %
17 %
Rental income
Personal/recreational use
Low price/good deal
Low mortgage rates
Price appreciation
Other
Retirement
Source: National Association of REALTORS® 2015 Investment and Vacation Home Buyers Survey
BEWARE GET-RICH QUICK INVESTORS
There’s a good chance that if you’re working with real estate investors you will cross paths with people who are trying to make a quick buck by following a seminar or other such program promising overnight millions. These seminars are typically advertised on late-night TV infomercials and people often pay thousands of dollars to sign on. Bob Leonard, CRS, with RE/MAX Associates in San Antonio, Texas, says many of these seminars advise people to make half-price offers on numerous properties and they want a local REALTOR® to be their guide. “They are just driving around town throwing repeated offers up against the wall to see if they stick,” says Leonard. “I’ve had people contact me and try to make these offers that you know aren’t going to work. They aren’t realistic and they are a waste of your time. Agents need to be aware that these people are out there.”
Source: National Association of REALTORS® 2015 Investment and Vacation Home Buyers Survey
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trade winds
[feature]
CASE STUDY
MEMPHIS FRENZY WORKIN
A 2,000-squarefoot single-family home that would cost
$
500,000
in San Francisco…
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2
TORS ES
TH IN WI V San Francisco, for example, would sell for In Memphis, real estate investors are G PART singing the blues because they can’t get under $150,000 in Memphis, she says. their hands on as many properties as “Out-of-town investors see Memphis they’d like. Inventory is so tight and as a gold mine because they can come demand so strong that long waits and in and buy properties for little or nothing bidding wars are the norm, says Verna Littleton, compared to what they are used to seeing in their CRS, a broker with Kaizen Realty in the suburb local markets,” she says. “It’s a huge difference.” of Germantown. “When one of these properties Littleton says education is key to establishing comes on the market, it’s just a feeding frenzy,” yourself as the go-to REALTOR® for investment she says. properties in your local market. It’s critical to For example, when a three-bedroom, two-bath, learn the ins and outs of buying and selling difsingle-family home that needed a new roof and ferent types of investment properties, especially other improvements recently came on the mardistressed ones, such as those being auctioned ket for $14,000, the sharks started biting. Within by banks or foreclosure properties from HUD 30 minutes of the house hitting the market, it or Fannie Mae. had five offers from investors and the price had “Each of these agencies has different guidebeen bid up to a final sale price of $20,000, a lines and you need to know what you’re doing jump of more than 40 percent. “There’s just not when these properties become available,” says a lot available,” says Littleton. Littleton. “You’re going to be dealing with invesThe same is true nationally. Sales of investtors who have cash on hand and are ready to ment homes last year decreased 7.4 percent go right away. You don’t want to be fumfrom 2013 to an estimated 1.02 million, accordbling around trying to figure out what ing to the National Association of REALTORS® to do at the last minute.” (NAR). “Rising home prices and fewer distressed Littleton recommends REALTORS® properties coming onto the market have further join well-regarded local real estate reduced the number of bargains available to investment clubs and be on the lookturn into profitable rentals,” explains Lawrence out for investment seminars held by Yun, the NAR’s chief economist. HUD and other government agencies. One of the biggest factors drawing There is also ample information online. real estate investors to Memphis, says “What’s going to separate you from other Littleton, is that prices are consideragents is your level of education and your quick, ably lower than other larger American knowledgeable response to buyers,” she says. cities. A 2,000-square-foot single-fam- “You’ve got to help them find those deals before ily home that would cost $500,000 in anyone else does.”
…would sell for under
$
150,000
in Memphis.
G
PART
3
TORS ES
WORKIN
trade winds
IDEAL advice Doug Richards, CRS, in Salt Lake City, Utah, bought his first investment property, a single-family home, some 40 years ago. Today, he has investments in nearly 200 properties, from duplexes to apartments to commercial properties such as fast-food restaurants, convenience stores and warehouses. Over three decades, he has shared his knowledge with countless REALTORS® as a certified CRS instructor of the course, Buying and Selling Income Properties (CRS 204). To be effective helping clients buy investment properties, says Richards, you have to help them understand where their profit is going to come from. Richards uses the acronym IDEAL to help drive this point home:
I D E A L
[feature]
TH IN WI V
=
Income, which is the cash flow you will receive from rental properties.
=
Depreciation, or the tax savings that might be available from owning rental property.
=
Equity buildup. “There is no greater way to build wealth systematically than to have your tenants reduce your debt for you,” says Richards.
=
Appreciation, or the increase in value your investment property should gain over time.
=
Leverage. The power of earning a rate of return from your investment that is significantly greater than the cost of the money you are borrowing.
“Educating your investor clients so they understand these factors is one of the most valuable services you can provide as a REALTOR®,” says Richards. And who better to help clients understand real estate investing than REALTORS® themselves, he says. “One of the great things about REALTORS® helping clients invest in real estate is that we understand it, we get it,” he says. “We know better than anyone the resources out there to help clients make the most informed decisions.” Daniel Rome Levine is a freelance writer based in Wilmette, Illinois.
GLOBAL
WARM
ING WORKING WITH INTERNATIONAL BUYERS BRINGS CHALLENGES AND OPPORTUNITIES FOR CRS AGENTS. The climate for international real estate sales activity is heating up. According to the National Association of REALTORS® 2015 Profile of International Home Buying Activity, international sales totaled $104 billion in the 12 months ending March 2015, up 13 percent from $92 billion in 2014 after reaching $68 billion in 2013. The pace is not expected to slow down anytime soon. Foreign nationals who experience stifling and unstable economic and political climates in their own countries will continue to invest in U.S. real estate as a safe haven for their hard-earned money. And that presents a tremendous opportunity for REALTORS® who serve them. To take advantage of these opportunities, REALTORS® must be prepared to work hard to educate themselves about how real estate works in different countries. There is much to learn, from figuring out how to build their international network and understanding the cultural differences of their clients, to learning what foreign buyers look for in a home and dealing with tax and financial issues. The path to success isn’t easy, but with practice and patience, agents can build a satisfying and lucrative global real estate business that enriches their experience of the world.
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What’s the definition of an “international client?” ➊ Non-Resident Foreigners Foreign clients with permanent residences outside the U.S. These clients typically purchase property as an investment, or for vacations or visits of less than six months to the U.S. ➋ R esident Foreigners Clients who are recent immigrants (in the country less than two years) or temporary visa holders residing for more than six months in the U.S. for professional, educational or other reasons.
ONAL INV TI
PART
1
When Sandra Miller, CRS, CIPS, decided to expand her global real estate business several years ago, she looked no further than her front door. “In southern California, there is no such thing as a typical buyer because they come from all over the world. I can have people from different countries walk in my door on any given day,” she says. But it wasn’t enough to wait for buyers to walk in the door. Miller earned her CIPS (Certified International Property Specialist) designation and spent countless hours studying how foreign nationals purchase properties in their home countries. “Once you understand how other real estate markets work and how their buyers purchase properties, it’s easier to explain the differences with the U.S. real estate market,” says Miller, who is based in Santa Monica, California. She joined Engel & Volkers, an international real estate company headquartered in Hamburg, Germany, that wanted to build its brand in the U.S. Miller frequently contacts her international colleagues for referrals and to share
TORS ES
GLOBAL
INTERNA
trade winds
[feature]
NICHE
information about their respective markets. Those connections have helped Miller close several deals in the past year with clients from Paraguay, Brazil and Germany. “Taking classes about cultural diversity can help agents understand a client’s mindset,” adds Kathleen O’Donnell, CRS, CIPS, with O’Donnell Group Realty in Portland, Oregon. After earning her CIPS designation, O’Donnell formed a team of advisors, including a tax attorney and an immigration professional, to help her understand these issues and to serve her international clients. But unlike Miller who joined a global company, O’Donnell is an independent business owner with no presence outside the U.S. To build her international connections, she depends on her CRS and CIPS networks as well as referrals from past clients. O’Donnell says she has built relationships with key decision makers at several local companies, such as Nike and Adidas, which recruit employees from abroad. “I want them to see me as an expert who can help them with employee relocation,” she says.
ONAL INV TI
PART
2
TORS ES
INTERNA
“Once you understand how other real estate markets work and how their
bridging the
CULTURAL GAP When working with foreign buyers, agents must be prepared to deal with cultural differences, whether it’s through language or customs. Daniel Kijner, CRS, broker associate with Fortune International Realty in Miami, Florida, believes his ability to speak six languages — English, French, Spanish, Portuguese, German and Italian — has helped him develop a strong rapport
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with clients. “You can retain someone to translate for you, but how do you know for sure if they are translating the conversation accurately? You need to communicate well so you can convey how you are going to work with them,” says Kijner, who is also broker/owner with KSI Realty with offices in France and Thailand. Even when all parties in a transaction speak the same language, misunderstandings can occur if agents fail to pick up on the nuances in conversation, Kijner says. For example, if a French client says, “I demand proof of payment,” the word “demand” has a harsher meaning to American audiences than it does to the French, who
trade winds
$
Average purchase price of international and domestic clients
500k
rendering unto
Mean Purchase Price, U.S. Existing Home Sales Mean Purchase Price, International Clients
300k
$
200k
100k
PART
15
3
20
14 20
13 20
12 20
11 20
20
10
0
09
$
20
$
Source: National Association of REALTORS® 2015 Profile of Home Buying Activity of International Clients
$
ONAL INV TI
According to the National Association of REALTORS®, 55 percent of international buyers pay all cash for their housing purchases. While an increasing number of international buyers are applying for mortgage financing in the U.S., several factors can complicate the process, such as a lack of a U.S.-based credit history, no Social Security number and an inability to document required information, like salary history. Most foreign nationals purchase U.S. properties because it is perceived as a stable investment. “These clients know they won’t lose their property here and they can sell the property when they want to,” says Clark Niblock, CRS, CIPS, broker with Niblock Company Realtors in San Antonio, Texas. International clients may encounter some tax requirements, adds Niblock. For example, depending on their status and situation, international buyers may have to provide up to 10 percent of the property’s sales price to the title company at closing to make sure their tax obligations are paid. There may be other tax-related implications, so agents should consult with a tax attorney or an accountant with global real estate expertise before the property is listed, Niblock says.
INTERNA
400k
CAESAR CÉSAR CESARE
TORS ES
$
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buyers purchase properties, it s easier to explain the differences.” —Sandra Miller, CRS, CIPS
interpret it the same way as “request.” Culture can also impact family dynamics and decision-making roles. In Latin cultures, Kijner says, the father is usually the decision maker, but the entire family will be involved because they are looking for a home to accommodate several generations. Working with Chinese buyers presents a different set of challenges for agents. “It can be difficult to ascertain their needs because they are reserved and aren’t forthcoming with their plans,” says Kathleen O’Donnell, CRS, CIPS, with O’Donnell Group Realty in Portland, Oregon. “They often do not ask many questions, so it’s hard to know if they are interested in a property or not.”
The Chinese also often attend showings as a group, so it is difficult to identify the primary decision maker. “You also need to determine who the right person is that you should be speaking with, and that person may not be the decision maker,” O’Donnell says. In these situations, keeping quiet and waiting for them to initiate conversation may be the best course of action. As more international homebuyers seek U.S. real estate, agents who take the time to learn about their client’s culture can facilitate the deal more effectively.
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ONAL INV TI
PART
4
TORS ES
INTERNA
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COMING
According to the National Association of REALTORS® 2015 Profile of International Home Buying Activity, buyers from 75 different countries made home purchases in the U.S. during the year ending March 2015. But five countries — China, Canada, Mexico, India and the United Kingdom — accounted for 51 percent of all purchases. Many buyers who seek properties in south Florida come from Canada, Central America and South America, says Daniel Kijner, CRS, senior broker/owner of KSI Realty with offices in France and Thailand. “The U.S. has a stable real estate market and banking system, so these Florida markets are safe havens for Latin American clients,” he says. In San Antonio, Clark Niblock, CRS, CIPS, broker with Niblock Company REALTORS®, says nearly two-thirds of his international clients come from Latin America and Mexico. “The city appeals to foreign nationals because it is affordable, is culturally diverse and offers the amenities of a large city while retaining the charm of a smaller city,” Niblock says. When a German company recently relocated its headquarters to San Antonio, it presented new opportunities for local agents who are more accustomed to working with Latin American clients. “In a large city like San Antonio, global opportunities can develop unexpectedly and aren’t readily apparent to REALTORS®,” says Niblock. “Local real estate agents who focus on business opportunities from Mexico, South America and other Latin American countries cannot overlook other global markets,” Niblock says. Portland, Oregon, may not have the same level of appeal as California or Florida, but the city does draw a healthy share of buyers from China and Canada, thanks to local employers, like Nike and Adidas, which recruit from abroad, says Kathleen O’Donnell, CRS, CIPS, with O’Donnell Group Realty. Housing choices can often be influenced by a client’s culture and the type of home they grew up in, she says. One couple she worked with, where one partner was from India and the other from Spain, wanted a house with a clean, modern aesthetic that is common in Europe. She recently helped them purchase a 2,100-square-foot
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FOR to
Seattle
WASHINGTON 3 %
1
#
China Seek educational opportunities, business and trade opportunities and geographical proximity to home country. San Francisco
CALIFORNIA 16 %
San Jose
Las Vegas
Los Angeles San Diego
ARIZONA 5 %
2
#
HAWAII
Canada Seek affordable winter vacation homes.
single-family home. “It was more than double the size of what either of them grew up in. They could not understand why people want more space than that,” O’Donnell says. In contrast, many Chinese buyers prefer large, spacious homes with lots of land and views because they grew up in tiny spaces in their home countries. REALTORS® who are looking to grow their business would be wise to look at the international investment market — a market that is heating up. Regina Ludes is a freelance writer based in Chicago, Illinois.
2%
3
#
Mexico Investment, proximity to home country and lifestyle are important.
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AMERICA
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WHO ARE THE TOP FIVE INTERNATIONAL INVESTORS IN U.S. PROPERTY?
MAJOR DESTINATIONS OF INTERNATIONAL CLIENTS & THAT STATE’S SHARE OF ALL INTERNATIONAL UNIT SALES, 2015
MICHIGAN 2 %
+
Urban areas of interest to specific international clients
5
#
NEW YORK 3 %
United Kingdom Focus on both vacation and work-related properties.
New York Chicago
NEW JERSEY 3 %
3%
ILLINOIS
Dallas El Paso
TEXAS 8 % Houston
San Antonio
30B
20B 15B
10
10B
%
dom
ia
dK
in g
In d
o x ic Me
da na
in g
Un
i te
i te
dK
Ca
ia In d Un
x ic Me
dom
0%
o
0B
4
#
India Priorities tend to be career and business.
5%
5B
da
$
Total homes sold to international buyers
in a
$
na
$
Total sales volume by country
Ch
$
Miami
15%
in a
$
25B
Ca
$
Naples
20%
Ch
$
Orlando
FLORIDA 21 %
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Source: National Association of REALTORS® 2015 Investment and Vacation Home Buyers Survey
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COSTLIEST DISASTERS IN U.S. HISTORY Source: Wall Street Journal
Hurricane Katrina $ 2005 67.8 B
Hurricane Sandy $ 2012 26.4 B
Hurricane Andrew $ 1992 25.8 B
Northridge Earthquake $ 1994 23.9 B
When catastrophic natural disasters strike, REALTORS® play a critical role in helping communities recover. By Donna Shryer
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Between 1980 and 2014, the United States sustained 178 weather and climate disasters that cumulatively exceeded $1 trillion in damages. While a staggering dollar amount, the economic ramifications pale in comparison to the precious lives lost, the horrific memories endured by those who survived and the heart-wrenching obliteration of family treasures. According to the Insurance Information Institute (I.I.I.), a “natural catastrophe” denotes events that cause $25 million or more in direct insured losses to property and affect “a significant number of policyholders and insurers.” Disaster losses along U.S. coastal areas in particular are predicted to escalate in the coming years, in part due to Mother Nature, but also because of significant increases in development. One catastrophe-modeling company predicts that catastrophe losses will double every decade or so due to growing residential
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A house is raised off its foundation in the Highlands, New Jersey, almost a year after Hurricane Sandy. Many houses in flood hazard areas were required to be elevated according to revised building codes issued in the aftermath of the disaster.
and commercial density and the rising value of affected buildings. If forced to find any good buried beneath natural catastrophic devastation — whether due to earthquake, hurricane, flood, tornado or fire — it’s the fact that such events bring to the forefront lionhearted champions dedicated to easing recovery. “Every weather disaster gives us heroes and zeros,” says Cynthia S. Joachim, CRS, real estate broker with Coldwell Banker Alfonso Realty, Inc. in Gulfport, Mississippi. It’s a fact Joachim learned firsthand after struggling through Hurricane Katrina, which ravaged the Gulf Coast in August 2005 and is to date the costliest hurricane in U.S. history. Joachim learned quickly that REALTORS® have the knowledge and resources to step up as heroes. “I couldn’t save people from rooftops, but those of us in real estate have a responsibility to join first responders after a natural disaster. We bring so much to the table that no one else can.”
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Hurricane Ike 2008 $16.2 B
Hurricane Ivan $ 2004 10.7 B
Hurricane Charley $ 2004 9.8 B
AREA Home Ground
Photos: Hurricane Wilma: Marc Averette; Hurricane Cherley: FEMA Photo/Andrea Booher
Hurricane Wilma $ 2005 11.5 B
Finding temporary rentals tops the list of support REALTORS® can immediately offer disaster victims. In the coastal town of Brick, New Jersey, Justin G. Leach, CRS, REALTOR® Associate with RE/MAX Real Estate Ltd., deals with rentals on a near-daily basis — a fact that served his community well in autumn 2012 after Superstorm Sandy ripped apart much of the United State’s Northeastern coast. “We represented homes outside the flood zone that were empty because they were either on the market or secondary vacation homes. I called every homeowner and asked if I might offer their home as a temporary residence for a displaced storm victim. The positive responses were remarkable,” Leach explains. “After Sandy hit, it felt like my family grew 300 percent.”
Leach also scoured daily MLS listings for vacant properties and then called the representing agent. “These were not business transactions,” he stresses. “It was agents teaming up to help someone with no home.” As for Janis Penick, CRS, REALTOR® Associate with RE/MAX Bastrop Area, Bastrop, Texas, she had never dealt with rentals before the Bastrop County Complex fire struck her community in September 2011, recorded as the most destructive wildfire in Texas history. But even before the fire was contained, she learned what she needed to learn — and fast. “I did everything possible to help displaced neighbors and clients find rentals.” The Bastrop County Board of REALTORS® created a daily list of available properties in her community, which was sent to the entire REALTOR® community, posted on the Board’s website and also added to a unique Facebook page, Bastrop Fire — Adopt a Family.
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council counsel
ÄÄExpert advice: REALTORS® have long been list keepers for reputable local contractors, builders and tradespeople, but post-disaster, these lists become an invaluable resource to expedite recovery. Buyers will want to know if a trusted company completed remediation and what quality materials the company is known to use. Sellers often ask for trusted experts to finish remediation so they can present their home in the best possible light. ÄÄCertified checks and balances: A natural disaster typically increases the pile of paperwork needed to close a sale. For example, after both Superstorm Sandy and Hurricane Katrina, an updated Elevation Certificate (EC) became essential for homes near or on the water. These guidelines, created by the Federal Emergency A CH-47 Chinook helicopter from the Texas Army National Guard Management Agency’s (FEMA) Mitigation Assessment uses a Bambi Bucket to dump water on a blaze during the Bastrop Teams, are intended to assist architects, builders, code County Complex fire. officials, planners and engineers with reconstruction Reversing the Stigma and new construction to create elevated flood-resistant Historically speaking, areas homes. An EC is also instrumental in destroyed by weather disasters go eventually determining new disaster through an emotionally agitated insurance premium rates and/or period when buyers steer clear of support a request for a Letter of Map the devastated area and homeownAmendment. ers want out. “After Superstorm Leach quickly realized that he could Sandy, no one wanted to touch provide a valuable client service by waterfront property,” Leach nailing down the legal jargon woven recalls. “There was mass chaos throughout the post-Sandy Elevation and hysterical rumors, including a Certificate. In fact, Leach’s group Devastated houses near the beach at Brick major network report citing Ocean closed 126 transactions in 2012, repTownship, NJ, shortly after Hurricane Sandy. County as one of the most dangerresenting approximately $31 million ous areas in the world.” in sales. Leach attributes at least 20 of Fortunately, time quashes those sales to his expertise in postfiction-based predictions — and Sandy home-elevation requirements. the stigma of living within a preAfter Superstorm Sandy destroyed much of his com- â Nuts and Bolts: In the early years viously demolished zone is soon after Hurricane Katrina, Joachim munity, Justin G. Leach, CRS, REALTOR® Associate replaced with a zest to rebuild. describes a feverish period of buying with RE/MAX Real Estate Ltd in the coastal town of “We’re coming up on three years and rehabbing. “Work was happening Brick, New Jersey, started phoning what he refers to since Superstorm Sandy, and so fast and people bought whatever as his “fraternity.” we have definitely turned the materials they could find,” Joachim “As soon as I could, I called Certified Residential corner. A lot of positive things are says. “Some of the work was done with Specialists across the country and reached out happening today,” says Edwin C. ‘Chinese drywall,’ which proved to be for agent-to-agent education. I specifically called O’Malley, broker/salesperson with defective,” emitting harmful gases that CRS members in Louisiana to ask what they did Diane Turton, REALTOR® in the result in health problems for homeafter Hurricane Katrina; how they dealt with FEMA; coastal town of Bay Head, New owners and deterioration of copper and how they approached new policies concerning Jersey. O’Malley, who is working pipes, wiring and air conditioning elevation certificates.” to earn his CRS Designation, says coils. [Read more about problems with Although Leach stresses that every natural that while buying and selling Chinese Drywall at the U.S. Consumer disaster comes with unique characteristics, procedures, client concerns, Product Safety Commission’s website, questions and needs, there are also overlapping disclosures and paperwork may www.cpsc.gov.] solutions. By asking peers for advice, he was able have changed, the REALTOR® is She’s now a proactive advisor who to quickly increase his knowledge base and better in a prime position to help clients has her clients schedule a home serve his clients and community. inspection to check for Chinese demystify these changes.
YOUR CRS NETWORK TO THE RESCUE
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council counsel
drywall. If defective drywall is identified, the solution is up to the buyer: They can walk away or replace the drywall, or they can seek legal advice to attempt to force the builder to replace the drywall. What’s important, Joachim stresses, is full disclosure concerning all rehab. “Before Katrina, full rehab disclosure was mandated by state law, but Katrina added another layer of disclosure. Enforcing investigation of all rehab work — including drywall, electrical wiring, roofing and insulation — is something very important that the REALTOR® brings to the table.”
A toilet water shut-off valve, showing corrosion from contamination by Chinese-made drywall. The defective product was used extensively during rebuilding efforts following Hurricane Katrina and several other gulf hurricanes between 2004 and 2007.
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Wait and See Attitude
Sometimes, Leach stresses, the best service a REALTOR® can offer any client who’s suffered through an abysmal natural catastrophe is the assurance that predictions of crippling supplemental disaster insurance hikes and new, cost-prohibitive building codes are merely speculation. “Right after Superstorm Sandy, reports came out that flood insurance would skyrocket — exceeding a homeowner’s mortgage in some cases. That sent everyone into a panic,” Leach says. “The truth is, three years after Sandy, we still don’t know what’s going to happen with flood insurance rates once FEMA’s new maps are adopted. And we won’t likely know for some time. It took seven years to develop new maps for the Gulf Coast after Hurricane Katrina. That’s a long time to give up your dream home. Sometimes my best advice is to live for today.” Donna Shryer is a freelance writer based in Chicago.
HOMEOWNERS INSURANCE PRIMER While REALTORS® are not expected to be insurance experts, here’s a quick primer to help define what a standard home insurance policy versus a disaster insurance policy should cover. It’s important to note that disaster insurance coverage varies by state, company and product.
DISASTERS TYPICALLY COVERED BY A STANDARD HOMEOWNERS POLICY INCLUDE: Fire/Lightning (with exceptions) â Windstorms/Hail â Freezing of Plumbing/Pipes â Damage from Weight of Ice â Volcanic Eruptions (with exceptions)
NATURAL CATASTROPHIC DISASTERS THAT TYPICALLY REQUIRE SUPPLEMENTAL INSURANCE INCLUDE:
Storm Coverage: Hurricanes and Tornadoes Flooding
For the most part, homeowner policies exclude flood-related damage, except for cases related to flooding from damaged plumbing infrastructure, like leaking pipes. If living in an area where floods are common, a special flood protection policy may be recommended.
Homeowners insurance generally covers natural disasters related to wind damage, which includes tornadoes and hurricanes, although flooding after storm surges from hurricanes is not included. If a home is in an Atlantic or Gulf Coast area, with increased susceptibility to hurricanes, flood insurance and/or special beach and windstorm insurance may be necessary.
Volcanoes
Earthquakes
The cost and need for earthquake insurance is determined by a home’s location, building materials, foundation integrity, number of stories, insured value and the policyholder’s chosen level of coverage. Therefore, supplemental earthquake insurance is judged on a case-by-case basis.
Homeowner insurance policies often cover damage from an unlikely volcanic eruption. Specifically, standard policies cover damage related to ash, dust, particle matter, lava flow and the initial removal of these materials. However, landslides, shock waves, tremors and ash deposits from wind are not covered by most policies. For extended protection, homeowners living near active volcanoes may want additional coverage for volcanic disasters.
Read more about flood and disaster insurance at www.realtor.org/field-guides/field-guide-to-flood-disaster-insurance.
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Outstanding! Showed us many listings and was very patient throughout … Highly likely to recommend! Very attentive & responsive… Excellent listening skills…
Highly recommended! Great for buyers OR sellers … Knows the market inside out …
CRIT assessm Exceptional! Gave us many ideas we never would have thought of for ourselves …
How to cultivate positive reviews and boost visibility to prospective clients By Gwen Moran
Ø
In early 2015, Grant Muller, CRS candidate, founder of Spaces Real Estate, a real estate brokerage in Boulder, Colorado, received a phone call out of the blue. The caller said that her mother had passed away and she needed to sell the house. She had seen Muller’s collection of more than 60 positive reviews on Zillow and decided that he was just the guy to handle the nearly $1.5 million listing. “That was directly from one set of reviews. If anyone doubts that positive online reviews are
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important in our business, that’s the story that explains why they are,” Muller says. Today, it seems like there are new review sites springing up every day. REALTORS® are, at once, overwhelmed by the volume and the amount of time required to manage such an online presence, and concerned about pestering clients for reviews. However, when treated strategically, building positive reviews can become a daily part of your business. What’s more, the reviews themselves can become powerful new business tools that can also be used for employee recruitment, says real estate social media marketing expert Kelly Craig of Freehold, New Jersey.
Location, Location, Location
The first step in building a solid base of positive online reviews is to decide where you want them to be focused. Muller places most of his effort in cultivating Zillow reviews. Michael
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Very professional! Really took the time to understand my wish list for a new home …
TICAL ent Delightful! Great personality and made the whole process very smooth … A winner!
CHECKLIST
Take some time to make sure you have complete profiles on: Bing Places
Hege, CRS, a REALTOR® with Pridemore Properties in Charlotte, North Carolina, has a broader approach to ensure he has “claimed” his listings. He uses sites like Yelp and Google My Business, which allow companies to enter information about their businesses, correct contact information and even enter descriptions. He has also established profiles on LinkedIn, Yelp, YouTube, Zillow, Trulia, Realtor.com, Twitter and Facebook, where he has a business page. Hege says that most REALTORS® do not take the time to completely build out their profiles in the places where people are going to find them and comment on their service. They ignore these online destinations at their peril, he says. “It is vital to have as many positive five-star ratings on as many outlets as possible. Recently, I received a call because [they said] ‘you were rated five stars and looked like someone we would want to work with,’” he says.
Foursquare
Google My Business Instagram LinkedIn Realtor.com Trulia Twitter Yahoo! Local Yelp YouTube Zillow
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perfect practice
“ Having 20-plus reviews is great. But what happens when you have 100? What happens when you have 200? The impact that quantity could have in generating new business could be huge.” —Kelly Craig, real estate social media marketing expert
Making the Ask
While some REALTORS® don’t want to “bother” their clients by asking for positive reviews, Hege says most are more than happy to do so if they’ve had a good experience. He mentions the reviews at the closing, asking happy clients if they would mind writing a few words about what they liked about their experience and about him as a REALTOR®. He offers to send links to the review sites to make it easier. Ray Wade, CRS, broker/owner with Legacy Texas Properties in Houston, focuses on cultivating reviews on the Houston Association of REALTORS® website. Because it’s the No. 1 site for real estate in the greater Houston area, many local people seek it out when searching for a REALTOR®, “so it’s a good place to have reviews,” he says. He typically gives his clients a gift at closing and reminds them they’ll be getting a request to submit a review. Craig says it’s a good idea to have a process to make soliciting positive reviews part of your business activities. That’s what Muller does, which he says starts with creating ideal client experiences. If the customers aren’t happy, the only review they’ll write is going to be negative, he says. In addition, ask for feedback along the way so that you have the opportunity to correct the course if things aren’t going well. Then, ask
turn a frown upside From time to time, a negative review crops up in virtually every professional’s life. The reasons are many: Sometimes, the client was hard to please or the deal just didn’t go smoothly. Other times, the reviewer is just being unfair. But before you fly off the handle and blast someone who says not-so-nice things about you or your business, take a moment and follow these four steps to handling negative online reviews. Stay calm. You may be angry or upset, but it’s important not to handle the situation while your emotions are running high. That’s a recipe for making bad decisions,
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says real estate social media marketing expert Kelly Craig of Freehold, New Jersey. “Most people look at the overall ratings in reviews. One or two bad ones isn’t the end of the world,” she says. Respond appropriately. If the review has a field for commentary, respond positively. You may even offer to discuss the issue with the reviewer on the phone or in person and see what can be done to satisfy the client, says Ray Wade, CRS, broker/owner with Legacy Texas Properties in Houston, Texas. “You want to be careful because the Internet is forever,” he says. “Sometimes, it makes
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perfect practice
CLAIM YOUR ONLINE REAL ESTATE While you may focus on directing your clients to write their reviews on one or two key locations, you should also be developing profiles and ensuring that your listings are correct on popular online information sites. “This is a free billboard opportunity. The more places that we are visible in the eye of the consumer, the more we capitalize on a branding moment in their minds,” says Michael Hege, CRS, a REALTOR® with Pridemore Properties in Charlotte, North Carolina. Make sure each profile has your proper business name, address, telephone number and website URL, as well as a photograph, if possible. For social media accounts, establish a profile page with a link to your website, especially if you’re not updating that profile frequently.
REALTOR® was great!” doesn’t do you much good, either. Ask them to be specific about what they liked about the service. Were you particularly knowledgeable in the area? Did you handle the negotiation well? If the client said something noteworthy along the way about your service — such as, “I can’t believe you were able to get the house for me in this hot market” — ask the client to reiterate that in the review, he says. Craig agrees. In your email request for a review, she suggests including a few bullet points to prompt the client to write about areas such as service, responsiveness, follow-through or whatever particular strengths you contributed.
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THEY SAID IT Here are some actual comments left on CRS social media pages: Helen Sobel, CRS, Baird and Warner Real Estate, Chicago Helen is fabulous and is in fact perfect. She has an amazing knowledge of Chicago and serves a wide variety of clients.
Maximizing Your Reviews
Once you have the reviews, don’t just let them sit there. You can get more out of them by asking to use them as testimonials in your marketing materials Maura Neill, CRS, RE/MAX, or on your website, Craig says. Hege uses the Atlanta Coaching for Content sync feature with LinkedIn and Realtor.com — Maura is a true professional who goes the extra mile to Muller also says it’s fine to coach clients a bit when he syncs the two, his LinkedIn reviews service her customers … she was extremely helpful on the content. You don’t want to put words appear on his Realtor.com site, giving him throughout the process. in their mouths, but a review that says, “My additional exposure without asking his clients to do anything more. Jeff White, CRS, and Lori But the best way to Donahoo, CRS, RE/MAX, maximize the power Los Angeles They were totally dedicated to of positive reviews working with us to find us the perfect house in the perfect is to seek more, he location. says. “Having 20-plus reviews is great. But Jack Gillis, CRS, Coldwell sense to say, ‘Hey, I dropped the ball,’ if you Muller, CRS candidate, founder of Spaces Real what happens when Banker Apex, Dallas We lived in the house for 2.5 you have 100? What really did, or carefully comment to include what Estate, a real estate brokerage in Boulder, years and Jack was always in happens when you the client is upset about so that it’s clarified Colorado. Trading nasty barbs with a negative touch; sending us emails to check on how we were doing have 200? The impact to others.” reviewer, even if the person is completely and how my work overseas was going. that quantity could Whether the review is positive or negative, wrong, will never reflect well on you. have in generating the customer wants to feel heard and acknowlKeep soliciting pos- new business could edged, Craig says. Whether you are thanking Stacy Sanseverino, CRS, Keller Williams Realty, be huge,” he says. itive reviews. Muller your client for positive feedback or for simply Philadelphia She negotiated a better price says the best thing you can do sharing a point of view, he or she took time to and a good deal of repairs that Gwen Moran is a writer based about a negative review is to provide feedback that needs to be acknowlwould have cost us a lot … her local knowledge is unmatched. in Wall Township, New Jersey. keep soliciting more positive reviews. When edged, she says. people look at the overall rating and begin Avoid engaging. One reading the reviews, they’re going to evaluate thing you don’t want to do is what the majority said and will often assume Learn more in the CRS course Building an Exceptional Customer Service Referral Busiget into an online spat with a that one or two negative reviews are anomalies, ness. Visit crs.com/education for details. disgruntled client, says Grant he says. for the review and make it easy for your client by only requesting reviews in one or two places and sending links to the client.
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resources for learning & leisure
GOOD READS
HOW TO BE
heard ABOVE THE herd
Understanding the mechanics of attention and how to capture it. Reviewed by Allan Fallow
Ø
Ever feel like you’re walking around with your head in a cloud — a cloud of data? Journalist/ entrepreneur Ben Parr wouldn’t be surprised to hear you say you do. In 1986, he tells us in CapCAPTIVOLOGY: tivology, the average THE SCIENCE OF person was exposed to CAPTURING PEOPLE’S about 40 newspapers’ ATTENTION worth of information by Ben Parr every day. Within HarperOne just two decades, that $ 250 pages ❘ 27.99 onslaught had more than quadrupled, to 174 newspapers’ worth. And Parr himself, a former co-editor of Mashable and now a managing partner of DominateFund, is a prime offender: “I have no fewer than 15 windows and 25 tabs open on two monitors at any time,” he confesses. “I track tech,
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attention in the midst of overentertainment, media and science news across six Twitter accounts in whelming stimuli. a desktop app called TweetDeck.” Every time Parr discovers Myth Buster another aspect of The New Distrac- In distinguishing short attention tability — such as the fact that it from long attention — the first is can take the average multitasker an triggered by novelty and extrinsic astonishing 23 minutes to get back rewards, the second by familon track — he redoubles his efforts iarity, interaction and emotional to plumb the mechanics of attenrewards — Parr refreshingly tion (both our own and others’) explodes the myth of the “overnight and how to galvanize it. The results sensation.” No, Beyoncé was not an are not always captivating, in all instant success; she had to put in honesty, but Captivology always “years of hard work and audience moves quickly, and the book does building … to get to the point where a good job of melding social millions are willing to pay attention science with Business 101. to her by default.” Pinterest caught If you want to capture attention on right away, correct? Not so much; for your ideas, your work or your it had been around for three years product, you will not only have to before finally gaining traction in compete against countless people 2011. Pop star Psy, another long-term and companies who are vying for attention-builder, had seen his songs the same attention you are, but top the charts in his native South you’ll also need to fight against the Korea for almost 10 years before very unproductive habits that we “Gangnam Style” dancing swept the have all developed to manage our planet. As for Angry Birds, well …
consumers to repair their gear would you believe it was the 52nd before buying new replacements. computer game released by softResult? “Patagonia’s sales skyrockware company Rovio? eted by 40 percent the two years As Parr walks us through the various mechanisms (he calls them after the campaign.” triggers) that direct our attention Keep It Simple to a person, a product, a brand I’m pretty sure Parr would not or an idea, he occasionally risks counsel REALTORS® to attempt straying into “Captain Obvious” a “DON’T BUY THIS HOUSE” marterrain. But he always manages to have fun with his material. Sensory keting campaign. But whatever sort cues — for example, colors, shapes, of attention-grabbing strategy you come up with yourself, it’s essential temperatures — are essential to to sidestep the “complexity trap”: grabbing the attention of an audiKeep the unexpected idea — and ence composed of creatures with therefore its attendant message — scarce working memory, namely as simple as you possibly can. humans. So if you want to make Apparently this all has someyour friends (or clients) feel enerthing to do with “cognitive load.” gized, expose them to more red Think of Steve Jobs ruthlessly and orange. If you want people to cutting unnecessary features from pay attention to your presentation, every product that Apple put on shun the traditional powder-blue the market under his stewardship collared shirt (Parr is partial to and you will start to get the idea. pinks and purples himself). And “Remove everything that isn’t vital because researchers have shown to the integrity of your message, that “simply holding a hot object can generate positive feelings about idea or product,” the author insists, starting with that most hideous others,” think about handing a distraction of all, bullet points: potential buyer a hot cup of coffee They are “the antithesis of simwhen you go on a sales call. plicity and rarely add value to a If you read a lot of business presentation,” he explains, because books, Parr’s “attention” conceit they force your audience “to both can start to feel like a rickety read what is on the screen and lisscaffolding on which to display the latest findings from the field of ten to what you have to say at the same time.” Instead, consider using social psychology. But his chapter photographs or other images to on the “Disruption Trigger,” may convey your key points, and don’t force you to streamline some of “bury the lede” — that is, tell your your own transactional processes. Disruption is a great way to draw audience up top what they will learn from your talk. notice to your product or idea, In a world where the average perParr explains, because when you violate someone’s expectations, you son checks his or her smartphone 110 times a day — and where force them to pay attention until audience attention has become they can figure out whether the disruption is a pleasant surprise or so fickle that 4 out of 5 YouTube viewers bounce away from a video a possible threat. In the “pleasant if it pauses to buffer even once — surprise” category, Parr details Ben Parr’s Captivology merits some Patagonia’s Black Friday sales close consideration. campaign of 2011, which urged its customers, “DON’T BUY THIS Allan Fallow is a features editor in Washington, JACKET.” Instead, the outdoorD.C. You can follow him on Twitter @TheFallow. clothing company encouraged
YO U M I G H T A L S O L I K E …
THE SELF-MADE BILLIONAIRE EFFECT by John Sviokla and Mitch Cohen [Portfolio Hardcover] 256 pages $ 18.67/hardcover The authors interview some of the world’s 800 self-made billionaires, breaking down their mindsets into five habits anyone can learn from. COINED by Kabir Sehgal [Grand Central Publishing] 336 pages $ 19.51/hardcover Uncovering a deeper understanding of the relationship between money and humankind. PERFORMING UNDER PRESSURE by Dr. Hendrie Weisinger and J.P. Pawliw-Fry [Crown Business] 320 pages $ 15.56/hardcover How to diminish the effects of pressure on your performance. SMART CHOICES by John S. Hammond, Ralph L. Keeney and Howard Raiffa [Harvard Business Review Press] 256 pages $ 35.00/hardcover The authors offer a roadmap for making better and more impactful decisions and tools to help you achieve your goals.
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YO U M I G H T A L S O L I K E …
resources for learning & leisure
AUDIO FILES
JUST listen
Ø
As chilly autumn breezes arrive, many people find themselves raking leaves, getting ready for winter and relaxing at home. If the soundtrack to that nesting behavior isn’t music, it might as well be an informative and fun audio podcast. Topics run the gamut: technology, culture, business and more. Listening to a good Podcast is a great way to pass the time while you accomplish all those weekend chores, errands and yardwork.
Freakanomics Radio
AUDIO-TECHNICA HEADPHONES Audio-Technica $ 49.99
The ATH-ANC23 noise canceling earbuds reduce background noise and offer excellent sound quality, ranking near the top of Consumer Reports’ rankings of in-ear headphones.
The hit book Freakanomics, by economist Steven Levitt and journalist Stephen J. Dubner, struck a chord with millions of readers with its unconventional examination of the economy and our culture as a whole. Likewise, the hugely popular Freakanomics Radio podcast, produced in partnership with WNYC, continues that conversation and boasts more than 5 million monthly downloads.
4-IN-1 UNIVERSAL USB CHARGER CABLE TechnicCo $ 7.99
freakonomics.com/radio
TED Radio Hour
TED, which began in 1984 as a conference to explore how technology, entertainment and design converged, has its own podcast, which is aired on public radio in many parts of the country. The TED Radio Hour is based on talks given by renowned speakers that examine innovative ways to solve problems and come up with fresh ideas about how to think and create. The program is co-produced by NPR and TED. npr.org/programs/ted-radio-hour
This convenient cord from TechnicCo is compatible with most iPhones, iPods Androids and other smartphones — and it allows you to charge multiple devices at the same time.
Nerdette
Produced by WBEZ (Chicago Public Media), Nerdette’s tagline is: “Because everyone is a little nerdy about something.” The hosts tackle a wide range of topics, from technology to pop culture, books, science and more. Recent episodes have featured interviews with author Erik Larsen and astrophysicist Neil DeGrasse Tyson, and even discussions of the latest episodes of HBO’s hit Game of Thrones. nerdettepodcast.com
This Week in Tech
Hosted by noted technology expert Leo Laporte, “TWiT” features a round-table discussion with assorted industry luminaries analyzing the latest trends in digital technology and more. His panel of experts discuss a raft of topics: recent episodes have covered the emergence of drones, self-driving cars and reviews of the Apple watch. feeds.twit.tv/twit.xml
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THE GEEKS SHALL INHERIT THE EARTH by Alexandra Robbins $ 12.31 paperback
Available in both audio and paper forms, this book examines how seven high-schoolers who are outsiders manage to succeed.
inside
Sell-a-bration® 2016 will be held at the Loews Royal Pacific Resort in Orlando, Florida.
CRS news from the council
ORLANDO
magic Ø
Sell-a-bration® 2016: Let’s Talk Business
Real estate is a serious business, but there’s no reason valuable referral networks through high-quality education you can’t combine your professional education and netand networking sessions. These referrals can deliver benefits working with a mid-winter trip to sunny Florida. Make your for years to come. plans now to attend Sell-a-bration® 2016, CRS’s world-class There’s a reason many attendees come back year after event, which will be held Feb. 8–9, 2016, at the Loews Royal year, but newcomers are impressed too. “Sell-a-bration® Pacific Resort in Orlando, Florida. gives you information and techniques that can be used The 2016 Sell-a-bration® theme is “Let’s Talk Business” — right when you get back to the office. I got so much out of tying together a host of keynote presentations, panel last year’s convention that I signed up for 2015 before I left!” sessions, interactive workshops and breakouts that will says Jacki Mack, CRS. deliver valuable strategies and tools agents can implement Karalyn Hoefer, CRS, agrees. “Sell-a-bration® gave me right away to help boost their bottom line. Expert practipractical ideas in a short time that I can implement immetioners will “Talk Business” about real estate tools and tech; diately, and it’s a great investment in my business. What an marketing best practices; client relationship strategies; and incredible event!” running your business. Attendees will leave Sell-a-Bration® with new ideas, new Selected exhibitors will also share their innovative professional contacts and a renewed commitment to their products and solutions that can businesses. Agents can also earn 16 help make agents more efficient credits toward the CRS Designation PRICING and successful. On top of all that, by attending Sell-a-bration® 2016. CRS DESIGNEES/MEMBERS NON-MEMBERS attendees will have a number of The event’s Welcome Reception is opportunities to meet and network sponsored by Cutco Closing Gifts. Standard Rate Standard Rate with other top agents. $ $ 649 699 For information about Sell-aSell-a-bration® is the only event in $ bration® 2016 and to register, VIP Upgrade: 100 the industry designed specifically visit crs.com/events/sella-bration, or call customer for CRS Designees, candidates and service at 800.462.8841. Pre-Conference One-Day Course: REALTORS® who want to take their For information about Win-Win Negotiating, on Feb. 7, 2016 success to the next level. Hundreds Sell-a-bration® sponsorship opportunities, contact CRS MEMBERS NON-MEMBERS of top-producing REALTORS® come Stephanie Crain, CRS Director $ $ to the annual event from across 130 160 of Business Development, at 312.321.4452 or scrain@ the country and around the world Group Rates are also available. crs.com. to learn from the best and build
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inside
CRS news from the council
WITH THE TOUCH
OF A
button
CRS Referral Network pays off
Ø
Now CRS Designees have two great ways to find other highquality professionals for referrals and to generate consumer leads — all free of charge. The CRS Referral Network now features a new-and-improved “Find a CRS” tool, enhanced with search-by-zip-code and advanced sorting and filtering capabilities; and “CRS Qualified Consumer Leads,” powered by ReferralExchange. This exclusive free service delivers leads directly to CRS Designees, all of whom are pre-qualified for the program. Learn more at crs.com/ReferralNetwork, or just look for the “Referral Network” button at the top of the CRS.com home page after you log in. The Council is working hard to deliver tangible member benefits that make a difference for all CRS members.
Address Change
Now that the CRS Referral Network is up and running, don’t delay: Log in to CRS.com to update your Member Profile, which includes your company information, contact information, online bio and photo. “Find a CRS” is much more accurate, so you’ll want to make sure that anybody who comes across you looking for a referral partner gets accurate contact information.
PLAN FOR SAN DIEGO The biggest industry event of the year is almost here. Thousands of top real estate professionals from all over the world will come together to learn new ideas, share tips for best practices and make important professional connections. The CRS Annual Business Meetings are held in conjunction with the NAR Conference & Expo. CRS members who are active on NAR committees or with state lobbying initiatives
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can participate in both meetings and take advantage of the NAR trade expo and other programs. CRS meetings and events will take place at the Westin San Diego hotel beginning Wednesday, Nov. 11, and ending Friday, Nov. 13, 2015, with the CRS Inaugural and Awards dinner. While you’re at the CRS Meetings, don’t miss free CRS Education Sessions, which will be held Nov. 12 and Nov. 13 at the Westin.
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CRS Designees who attend the conference and CRS Education Sessions will walk away with practical advice and strategies to help them close more deals and become inspired
to achieve more in their personal and professional lives. For more information and to register, visit crs.com/events/ annual.
CRS NABS PUBLISHING AWARD The Council of Residential Specialists’ (CRS) flagship magazine recently won a major industry award for its November/December 2014 issue. The Residential Specialist was awarded a 2015 APEX Award in the category of Magazines, Journals & Tabloids — Design & Layout. The annual awards recognize publication excellence among corporate, nonprofit and independent publishers. Working with custom publishing partner GLC, CRS debuted a new version of The Residential Specialist magazine in May 2014. APEX judges praised the magazine’s “stunning spreads with exceptionally functional design elements — from infographics to informationpacked content pages to typography and illustration. Everything is top drawer. It’s a very readable magazine, which is really the purpose of good design,” the judges said. Tony Priore, CRS vice president of Marketing and Communications, says the award is a testament to the Council’s dedication to providing its members with outstanding education, content and market information. “The magazine is one of several ways we deliver valuable information in an interesting way to enable our members to do their jobs better,” he said.
learn from the
BEST
strategies from the industry’s top educators
BE A GUIDE FOR THE JOURNEY REALTORS® need to understand the consumer’s journey and develop strategies to help them connect. by Frank Serio, CRS
Ø
As real estate professionals, we need to move beyond basic targeting, tracking and demographic segmentation to drive deeper into our understanding of customer expectations. The goal must be to engage with customers and clients to deliver valuable personal experiences throughout the consumer’s journey in the buying and selling process. Today it is more important than ever for real estate agents to better understand that consumer journey, and learn what customers look for as they make decisions about the agent they hire and the home they buy or sell. Many real estate agents may need to develop a new mindset and create new strategies to help them engage with consumers. NAR’s 2014 Profile of Home Buyers and Sellers finds that consumers work with the first agent they stumble upon 67 percent of the time. Today’s REALTOR® must find a way to be that agent. Here’s how: ÄÄFocus your message on what makes you relevant to the consumer. Agents need to know their clients’ wants and needs and deliver information that is important to them. ÄÄMake visiting your website a habit. Agents must give their consumers reasons to return to their website by featuring relevant information for buyers and sellers. ÄThink Ä like a consumer. By looking at the buying/selling process through the eyes of
the consumer, a REALTOR’S® marketing becomes more relevant and fosters engagement with the consumer. ÄÄRelevance-based marketing. Agents must offer information the consumer wants or needs and then create “Calls to Action.” This helps the consumer get the information they need, and it helps the agent learn the customer’s level of engagement to begin a dialogue. ÄÄParticipate in community or topic-based forums. Share community events and happenings. Keep your local area updated on zoning changes and current events. Be the local expert. ÄÄEncourage sharing. Make yourself a platform for your community to share ideas, tips, checklists, recipes, do-it-yourself ideas and more. ÄÄBe “hyper local.” This isn’t your grandparents’ hyper-local, when they knew everyone in town and heard all the gossip. Today’s agents need local knowledge they can share on a global scale through both social media and word of mouth. ÄÄIt’s all about action! Agents who manage to deliver relevant information consistently will have success engaging with consumers. It’s like the line in the film Field of Dreams: “If you build it, they will come! “ Understanding the consumer’s anticipated expectations and having information available when the consumer wants it will provide successful REALTORS® with a consistent flow of business. In short: do less “selling” and more “engaging.”
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CRS INSTRUCTOR
Frank Serio, CRS, is a Certified CRS Instructor and broker/owner of RE/MAX By the Sea in Bethany Beach, Delaware.
frank@theserios.com www.TheSerios.com
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CRS
connect
YOUR CRS
network
expand your network
Ø
WEST
In January 2010, Karen Eddinger, CRS, of RE/MAX On The Lake in Seattle, Washington, was helping CONNECTION PERFECTION a family find the right REALTOR® to assist them with their relocation from St. Louis. They were in the early stages of the home-buying process when Eddinger referred them to Margret “Meg” Heede, CRS, of RE/MAX Gold in Sacramento, California. Four years after the referral, Eddinger received her referral check. During that time the family was going back and forth on their decision. They rented their home in California while renting out their home in St. Louis to their son for a period of time. Eventually, their son wanted to move elsewhere, and so the buying process picked up again. Heede stuck with the family throughout all of this time. “That’s the sign of a true professional — one who is in it for the long haul,” says Eddinger. “I was fortunate to have the CRS referral network at my disposal so that I could find an agent such as Meg.”
WEST
WEST
WEST
WEST
WEST
Selling Lake Tahoe, NV for 25 years.
Craig Zager I Love Referrals! Sell phone: 775.901.4663 craig@CraigZager.com
www.LakeTahoeAgent.com
WEST
Mike Kelly CRS, CIPS 707-322-8503 cell Career Worth Having Business Worth Owning Life Worth Living
Thinking
Hawaii?
www.JamesHawaii.com
Serving Sonoma County for 36 years, Mike Kelly is your “Wine Country Lifestyle” specialist. The Kelly-Norman Team is client-centered focusing on a successful transaction for your residential referrals. www.GreatEstatesofSonomaCounty.com
29 years of “Experience You can Trust” James E. Lewis (R) CIPS, CRS, GRI, SRES® Cell: 808.225.0569 Fax: 808.732.0914 Email: J.Lewis@Realtor.com 4211 Waialae Ave. Suite 9000, Honolulu, HI 96816©2015 Coldwell Banker Pacific Properties. All Rights Reserved. Coldwell Banker Pacific Properties fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Real estate agents affiliated with Coldwell Banker Pacific Properties are independent contractor sales associates and are not employees of Coldwell Banker Real Estate LLC, Coldwell Banker Residential Brokerage or NRT LLC.
Sep Oct
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Reach more than
30,000
CRS peers with your ad here.
WEST
WEST
Contact Joe Stella: jstella@ glcdelivers.com or 847-205-3127
WEST
WILLIAM & WILL ABR, CIPS, CRS, RSPS, SRS, SRES Top 1% of Brokers Internationally!
(626) 898-5810 CalBRE: 01903501
(310) 880-7356 CalBre: 0147783827
Serving: Southern California, Los Angeles County, San Gabriel Valley, Beverly Hills, Hollywood, Westside (UCLA/USC), and the South Bay
william@goldenlandinc.com www.goldenlandinc.com
NORTHEAST
NORTHEAST
Diane Capodilupo
Your referral source for the greater
Pittsburgh
area
I help clients make the Wright move Nancy Wright, ABR, CRS, GRI
Bill Kuhlman
I WORK HARDER SO YOU GET PAID FASTER!
• Serving Massachusetts
Ranked #1 Selling Agent for Single Family Homes in The City of Boston
• 25 – 30% Referral Fees
www.dianecap.com
RE/MAX Realty Brokers 5608 Wilkins Ave. Pittsburgh, PA 15217 OFS: 412-521-1000 x170 CELL: 412-508-0040 nancywright@remax.net
SOUTH
NORTHEAST
Since 1988
• 2012 Massachusetts
CRS Chapter President
“I know great agents almost everywhere. Want to join my referral network?”
RE/MAX Achievers
Bill.Kuhlman@iCloud.com
617-323-3670 office 617-823-9989 cell
BostonAreaHomesOnline.com
diane@dianecap.com
SOUTH
781-883-5554
SOUTH
ABR, CRS, SRES, GRI, CDPE
Serving Northern Virginia and the Dulles Tech corridor Re/Max Premier offices in
Ashburn, Fairfax and Leesburg
Direct: 703-999-6535 Office: 571-210-SELL
lisacromwell@remax.net www.LisaCromwell.com
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CRS
connect
CRS
CLASSROOM COURSES
expand your network CRS 120 — Converting Leads Into Closings OCT. 2 — CORALVILLE, IOWA [Iowa Association of REALTORS®, IOWA CRS Chapter]
OCT. 21 — GRAND JUNCTION, COLO. [Grand Junction Area REALTORS® Association]
OCT. 15 — CORALVILLE, IOWA [Iowa Association of REALTORS®, IOWA CRS Chapter]
970.243.3322
Instructor: Rich Sands, CRS
800.532.1515 x1
Instructor: Rich Sands, CRS
800.532.1515 x1
CRS 121 — Win-Win Negotiation Techniques
OCT. 19 — LAS VEGAS [Barrett & Co., Inc.]
OCT. 1 — BATON ROUGE, LA. [Greater Baton Rouge Association of REALTORS®]
702.252.7100
225.761.2000
Instructor: Rich Sands, CRS
Instructor: Lee Barrett, CRS
CRS classroom courses earn either eight credits (for 100-level, one-day courses) or 16 credits (for 200-level, two-day courses) toward the CRS Designation. At press time, the CRS courses listed below were scheduled through October 2015. For more up-to-date listings, visit www.crs.com.
OCT. 22 — LAS VEGAS [Barrett & Co., Inc.] 702.252.7100
Instructor: Lee Barrett, CRS
Instructor: Mike Selvaggio, CRS
SOUTH
SOUTH
GARY LANHAM GROUP
CANADA
Kent Redding BROKeR, gRi, CRs, ABR
the Kent Redding group
FORT LAUDERDALE, FL
Berkshire Hathaway
Leading the Way in South Florida Real Estate
texas Realty
Gary Lanham Group Leader Associate Broker CRS, CIPS, ABR, ePRO o 954.545.5550 c 954.695.6518 gary@garylanhamgroup.com www.garylanhamgroup.com
SOUTH
512.306.1001
Austin, texAs
RE/MAX Hallmark Lind Group Realty Ltd., Brokerage Aurora Ontario Canada
Kent@CallKent.com
www.hallmarklindrealty.com
www.CallKent.com
E-mail: lenard@hallmarklindrealty.com
SOUTH
Bradenton~Sarasota Florida Your Real Estate Referral Resource
Toll Free: 1-888-727-8223, ext. 228 Fax: 905-727-2230
MIDWEST Welcome to the tranquil beauty of the
BLACK HILLS of SOUTH DAKOTA Proud home of
ELLSWORTH AIR FORCE BASE
“Trust, Values, Commitment to Excellence, Friendships & Living Life Abundantly”
I’m available via email, text, telephone and in person.
Geri Kenyon
Honest-Skilled-Motivated-Full Time
CIPS, CRS, GRI, PMN, RSPS, SFR
605-391-8424
941-725-4374
duanehosek@gmail.com www.duanehosek.com
Geri@GeriKenyon.com Sep Oct
42
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RAPID CITY, SD
Duane Hosek, CRS
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OCT. 22 — EDWARDS, COLO. [Vail Board of REALTORS®]
OCT. 6 — TAVERNIER, FLA. [Florida Keys Board of REALTORS®]
970.775.5811
305.852.9294
Instructor: Rich Sands, CRS
CRS 201 — Listing Strategies
Instructor: Mark Porter, CRS
CRS 122 — Building a Team to Grow Your Business OCT. 23 — LAS VEGAS [Barrett & Co., Inc.]
OCT. 6 — MANDAN, N.D. [Bismarck/Mandan Board of REALTORS®, North Dakota Association of REALTORS®] 701.255.0712
Instructor: Chandra Hall, CRS
702.252.7100
Instructor: Lee Barrett, CRS OCT. 28 — ATLANTA [Georgia Institute of Real Estate, Georgia CRS Chapter] 404.252.6768
Instructor: Chandra Hall, CRS CRS 200 — Business Planning and Marketing SEPT. 28 — BRANSON, MO. [Missouri CRS Chapter]
SEPT. 23 — PALM SPRINGS, CALIF. [Palm Springs Regional Association of REALTORS®, SoCal CRS Chapter] 760.320.6885
Instructor: Frank Serio, CRS OCT. 1 — FRESNO, CALIF. [Fresno Association of REALTORS®] 559.490.6400
OCT. 15 — PEORIA, ARIZ. [Arizona CRS Chapter]
Instructor: Robert Morris, CRS OCT. 8 — WAILUKU, HAWAII [Hawaii Aloha CRS Chapter]
520.382.8776
Instructor: Gee Dunsten, CRS OCT. 20 — WEST ORANGE, N.J. [New Jersey/ Delaware CRS Chapter] 973.207.7005
Instructor: Chandra Hall, CRS
808.733.7060 x0
Instructor: Gee Dunsten, CRS OCT. 8 — MISSOULA, MONT. [Montana CRS Chapter] 406.360.7654
OCT. 22 — NORTH HAVEN, CONN. [Connecticut CRS Chapter]
Instructor: Lee Barrett, CRS
203.623.4078
Instructor: Chandra Hall, CRS
417.338.4555
Instructor: Edward Hatch, CRS
䜀攀琀 夀漀甀爀 䰀椀猀琀椀渀最猀⸀⸀⸀倀爀椀挀攀搀 刀椀最栀琀Ⰰ 匀漀氀搀 䘀愀猀琀
䐀攀氀椀瘀攀爀 琀栀攀猀攀 挀漀渀猀甀洀攀爀 瘀椀搀攀漀猀 琀漀 礀漀甀爀 猀攀氀氀攀爀猀 戀礀 䐀嘀䐀Ⰰ 漀渀氀椀渀攀 瘀椀攀眀椀渀最 漀爀 洀漀戀椀氀攀 搀攀瘀椀挀攀 一䔀圀 嘀攀爀猀椀漀渀
一䔀圀 嘀攀爀猀椀漀渀
䐀嘀䐀猀 ␀㌀㤀 攀愀挀栀⸀ ␀㐀㤀⬀匀☀䠀 昀漀爀 琀栀攀 瀀愀椀爀⨀ 伀渀氀椀渀攀 猀甀戀猀挀爀椀瀀琀椀漀渀 ␀㤀⸀㜀㜀⼀洀漀渀琀栀 䴀漀戀椀氀攀 愀瀀瀀 䘀刀䔀䔀 昀漀爀 漀渀氀椀渀攀 猀甀戀猀挀爀椀戀攀爀猀 䐀愀瘀椀搀䬀渀漀砀⸀挀漀洀⼀挀爀猀 㤀㔀㈀ⴀ㠀㌀㔀ⴀ㐀㐀㜀㜀 刀攀愀氀䔀猀琀愀琀攀䌀漀渀猀甀洀攀爀嘀椀搀攀漀猀⸀挀漀洀 匀攀愀爀挀栀 ᰠ䬀渀漀砀 嘀椀搀攀漀猀ᴠ 漀渀 琀栀攀 䄀瀀瀀 匀琀漀爀攀 吀攀愀挀栀 礀漀甀爀 猀攀氀氀攀爀猀 琀栀攀 椀洀瀀漀爀琀愀渀挀攀 漀昀 瀀爀椀挀椀渀最 琀漀 琀栀攀 洀愀爀欀攀琀Ⰰ 琀栀攀渀 瀀爀攀瀀愀爀椀渀最 琀栀攀椀爀 栀漀洀攀 琀漀 愀瀀瀀攀愀爀 椀渀 椀琀猀 戀攀猀琀 氀椀最栀琀⸀ 伀渀氀椀渀攀 猀甀戀猀挀爀椀戀攀爀猀 洀愀礀 攀洀愀椀氀 愀 氀椀渀欀 瀀爀椀漀爀 琀漀 琀栀攀 瀀爀攀猀攀渀琀愀琀椀漀渀⸀ 圀椀琀栀 琀栀攀 洀漀戀椀氀攀 愀瀀瀀 礀漀甀 洀愀礀 猀攀渀搀 琀栀攀 瘀椀搀攀漀 漀爀 瀀氀愀礀 椀琀 漀渀 愀渀 椀倀栀漀渀攀 漀爀 椀倀愀搀 爀椀最栀琀 椀渀 琀栀攀 猀攀氀氀攀爀猀ᤠ 栀漀洀攀⸀
⨀匀瀀攀挀椀愀氀 䌀刀匀 漀昀昀攀爀㨀 伀爀搀攀爀 戀漀琀栀 昀漀爀 漀渀氀礀 ␀㐀㤀⬀匀☀䠀 ⴀ 䜀漀 琀漀 䐀愀瘀椀搀䬀渀漀砀⸀挀漀洀⼀挀爀猀 䐀愀瘀椀搀 䬀渀漀砀 倀爀漀搀甀挀琀椀漀渀猀Ⰰ 䤀渀挀⸀ 㜀㌀ 䴀攀琀爀漀 䈀氀瘀搀⸀Ⰰ 匀甀椀琀攀 ㈀ Ⰰ 䔀搀椀渀愀Ⰰ 䴀一 㔀㔀㐀㌀㤀⸀ 眀眀眀⸀䐀愀瘀椀搀䬀渀漀砀⸀挀漀洀Ⰰ 椀渀昀漀䀀搀愀瘀椀搀欀渀漀砀⸀挀漀洀Ⰰ 㤀㔀㈀ⴀ㠀㌀㔀ⴀ㐀㐀㜀㜀Ⰰ 㠀 ⴀ㠀㈀㈀ⴀ㐀㈀㈀
CRS
connect
CRS expand your network
CLASSROOM COURSES
OCT. 21 — STUART, FLA. [REALTORS® Association of Martin County] 772.283.1748
Instructor: Gee Dunsten, CRS OCT. 27 — GRAY, TENN. [Northeast Tennessee Association of REALTORS®] 423.477.0040
Instructor: Robert Morris, CRS OCT. 29 — ATLANTA [Georgia Institute of Real Estate, Georgia CRS Chapter]
OCT. 13 — CLIVE, IOWA [Iowa Association of REALTORS®, Iowa CRS Chapter & NE Iowa Regional Board of REALTORS®] 800.532.1515 x1
Instructor: Rich Sands, CRS OCT. 20 — MALVERN, PA [Association of REALTORS® School, CRS Pennsylvania Chapter] 610.560.4800
Instructor: Mark Porter, CRS CRS 210 — Building an Exceptional Customer Service Referral Business
404.252.6768
Instructor: Chandra Hall, CRS CRS 202 — Effective Buyer Sales Strategies OCT. 7 — AURORA, COLO. [Aurora Association of REALTORS®] 303.369.5549
Instructor: Rich Sands, CRS CRS 204 — Buying and Selling Income Properties OCT. 19 — MERRILLVILLE, IND. [Indiana CRS Chapter] 800.681.8056
Instructor: Chris Bird, CRS OCT. 22 — NASSAU, BAHAMAS [Bahamas Real Estate Association]
OCT. 1 — ST. LOUIS [Missouri CRS Chapter] 314.267.2691
Instructor: Edward Hatch, CRS OCT. 13 — BIRMINGHAM, ALA. [Birmingham Association of REALTORS®] 205.871.1911
Instructor: Frank Serio, CRS OCT. 15 — ALBUQUERQUE, N.M. [New Mexico CRS Chapter] 505.610.5025
Instructor: Mark Given, CRS OCT. 20 — LAS VEGAS [Barrett & Co., Inc.] 702.252.7100
Instructor: Lee Barrett, CRS
242.356.4578
Instructor: Pat Zaby, CRS CRS 206 — Technologies to Advance Your Business SEPT. 30 — ROCKLIN, CALIF. [Northern California CRS Chapter]
Elective Courses Elective courses vary in length and credits earned toward the CRS Designation. Please visit the CRS website for details at crs.com.
949.766.2901
Instructor: Mark Porter, CRS
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PERSONALIZE, REPRODUCE AND MAIL THIS NEWSLETTER TO YOUR CLIENTS
EDIT
Leave YOUR HOME as is, or personalize the newsletter by adding your photo, logo, address and phone number to the mailing panel.* You can also substitute any article in the newsletter with one of your own. Edit the newsletter e lectronically by downloading the Microsoft Word version at crs.com/ yourhomenewsletter. PLEASE NOTE: The images featured in the YOUR HOME newsletter may only be used within the PDF version of the newsletter. These images may not be reproduced or republished elsewhere outside of this newsletter format. CRS members are free to re-use the text of the articles contained in the newsletter, however.
REPRODUCE
Do it yourself with your office copier, or take the newsletter or electronic file (in addition to your photograph and any information you want inserted) to a printer who can prepare and reproduce the newsletter for you.
DISTRIBUTE
MAIL. If you photocopy YOUR HOME or use it “as is,” please note that it is designed to be folded in a Z fold with the words YOUR HOME facing out on one side and the mailing panel facing out on the other side. Postal regulations require that Z folds have three closures (tabs or tape) — one on top in the center and two on the bottom. For your convenience, we have placed asterisks (*) where the closures should be. Be sure to check with your local mailer or post office to make sure you have prepared your mailings properly. ELECTRONIC FILE. Attach the customized newsletter file to an email to your clients or create a Web link to the file on your website. Consult your webmaster or technician to make sure the file is prepared correctly for these purposes, since these basic instructions will vary by person and system. * This newsletter is for the exclusive use of CRS members.
your *
home S E P/ O C T 2 015
Tips and tre nd s for homeow ners, buyers and sellers
WHEN IT RAINS, IT REALLY POURS Ø No matter where you live, emergencies are bound to happen when you least expect them: the furnace breaks down, appliances stop working, the roof starts leaking or a window gets smashed. The costs for repairs can be tough to stomach, unless you have an emergency fund. Setting up an emergency fund is easier than you think. These tips from Bankrate.com will help you handle unexpected surprises with ease. ÄÄ First, estimate how much money you might need for the fund. Experts suggest saving enough to cover four to seven months of expenses. Remember, this fund should not replace your entire income, and it should not be used to fund luxuries, like vacations, fancy new clothes or a new car (unless your existing one breaks down). ÄÄKeep funds accessible, but not so readily available that you are tempted to borrow from it. Set up an account separate
POISON CONTROL
Kids are naturally curious about their surroundings. But sometimes they can get into things that are dangerous and even deadly. Safe Kids Worldwide, a global not-forprofit group, provides several tips for keeping children safe in their own homes. Following these simple steps can help keep kids out of harm’s way, giving you peace of mind.
from your regular checking account. Consider using credit unions, which allow consumers to open accounts with smaller sums of cash, and online banks, so you can’t withdraw money from a storefront location. â Set up automatic deposits or transfers, so you know for sure that money will be saved each month and the fund will grow steadily, with little effort on your part. â Be sure to use the funds only for emergencies, such as replacing broken appliances, replacing the furnace or paying your regular monthly expenses after a job layoff or during a lengthy illness. ÄÄBegin slowly. Start with a deposit of $50 from each paycheck, then increase it gradually with each job change or pay increase. Set aside a portion of commission checks and tax refund, too. With these simple steps, you’ll have greater peace of mind, knowing you are prepared for any emergency.
➊ Store all household products out of children’s sight and reach. Young kids are often eye-level with items under the kitchen and bathroom sinks, so any items located there should be moved to a place they cannot reach. Install child safety locks on cabinets where hazardous items are stored. ➋ R ead product labels carefully to find out if the item is harmful to kids. The most dangerous items include makeup, personal care products, plants, pesticides, lead, art supplies, alcohol and carbon monoxide. ➌ D on’t leave hazardous products unattended while in use. Many accidents occur when adults are distracted. Keep cleaning products in their original containers, and never put a potentially dangerous product in something other than its original packaging, such as a plastic soda bottle, where it could be mistaken for something else. ➍ Check your garage, basement and other storage areas for any cleaning supplies you no longer need and discard them. ➎ Check your purse for any medications or makeup that could pose a danger, and store handbags out of reach. Keep all medications and vitamins stored where children cannot reach them, and always put medicines away after every use. ➏ If a child has been poisoned, call the Poison Control Center at 800.222.1222, which offers fast, free, confidential help in English and Spanish. If the child has collapsed, call 911 immediately. ➐ Install a carbon monoxide alarm on every level of your home, especially near sleeping areas, and keep them at least 15 feet away from fuel-burning appliances.
BROUGH T T O Y OU B Y Y OUR A GEN T, A MEMBER OF T HE C OUNCIL OF RE SIDEN T I A L SPECI A L IS T S
Tips and trends for homeowners, buyers and sellers
Ø
Today’s buyers are more concerned than ever about living green, and that means finding an ecofriendly home. How do you know the home you want is truly green? Green means different things to different people. Buyers focused on energy cost savings prefer homes that have basic energy-efficient features, such as Energy Star appliances, weatherproofed windows and good insulation. Buyers concerned about personal health issues prefer homes that use non-toxic materials, such as low VOC paints and bamboo flooring. Still other buyers want to contribute to a
OV
E REFER RA LS!
IL
SAY YES TO CRS EQUAL HOUSING
more sustainable future. They look for building materials that are produced locally or use reclaimed wood. At the most basic level, Energy Star appliances, double-paned windows and efficient heating and cooling systems can lower energy bills and give buyers peace of mind. Other factors to consider include: ÄÄCost. Expect to pay more for a green home. A recent study by the University of California finds that green-certified, singlefamily homes sold for 9 percent more than a comparable home that wasn’t green. ÄÄSquare footage. The larger the home, the more energy it consumes. Buying a smaller home is more economical. ÄÄPaint. Use water-based paints that contain lower levels of
VOCs than conventional oilbased paints. VOCs emit gases that can cause health issues. ÄÄCarpeting/flooring. Choose carpeting made from recycled or renewable materials. For wood flooring, bamboo or reclaimed wood are popular choices. ÄÄUtilities. Review past utility bills to determine typical monthly energy costs. Also request documentation on any green features that have been added to the property. ÄÄLandscaping. Choose plants and trees that don’t require the same level of maintenance as a lawn. If in doubt, ask questions. The more questions you ask, the more confident you will be that you are getting a truly green home.
Buying or selling a home can seem like an overwhelming task. But the right REALTOR® can make the process easier — and more profitable. A Certified Residential Specialist (CRS), with years of experience and success, will help you make smart decisions in a fast-paced, complex and competitive marketplace. To earn the CRS Designation, REALTORS® must demonstrate outstanding professional achievements — including high-volume sales — and pursue advanced training in areas such as finance, marketing and technology. They must also maintain membership in the National Association of REALTORS® and abide by its Code of Ethics. Work with a REALTOR® who belongs in the top 3 percent in the nation. Contact a CRS today.
DO YOU KNOW SOMEONE WHO IS THINKING ABOUT BUYING OR SELLING A HOME? PLEASE MENTION MY NAME. This newsletter is for informational purposes only and should not be substituted for legal or financial advice. If you are currently working with another real estate agent or broker, it is not a solicitation for business.
OPPORTUNITY
*
*
Sources: Bankrate.com, Huffington Post
SHOPPING FOR green
“Sell-a-bration is energizing, exciting. It will inspire you to succeed!” - Dale Carlton CRS President
LET’S TALK BUSINESS
FEBRUARY 8-9, 2016 | LOEWS ROYAL PACIFIC RESORT | ORLANDO, FL Real estate agents will be talking at the premier networking and training event in the industry, CRS Sell-a-bration® 2016. This annual event is where the best and the brightest come together to TALK BUSINESS. They will be talking about what works for them. Sharing ideas. Exchanging tips and tools. Discussing their successes and challenges – in real time. Ideas will flow. Connections will form. Lasting relationships will be built. Sell-a-bration® 2016 is your chance to expand your network among successful agents serious about business. Your next great idea may be just one conversation away. Don’t miss this opportunity.
REGISTER NOW crs.com/sell-a-bration
ask a
CRS advice from your peers
Q:
S TAY I N G O R G A N I Z E D
Does Craigslist work in your area for home selling (as opposed to renting)? Does it attract buyers?
“ Buyers in San Francisco still use it somewhat to search for open houses, so we post HTML statements online with open house times. Craigslist isn’t what it used to be!” Nancy Corsaut, CRS Zephyr Real Estate San Francisco, California zephyrsf.com/agent/nancy-corsaut
“ In Austin there are a few REALTORS® that spam it hard with the same listings attracting buyers. It takes forever to filter through those to find the FSBOs. So I stopped doing that.” Tracy Hinterman, CRS Urban Homes & Land Georgetown, Texas www.urbanhomesandland.com
“ I live in a rural County in the Sierra Foothills of California — the Gold Rush towns of Nevada City and Grass Valley. Craigslist is a waste of time as well as creating potential problems! We get nuisance calls, buyers who are not qualified, people who want to rent it and then outright rental swindlers”. John Daly, CRS Coldwell Banker Grass Roots Grass Valley, California www.nevadacityrealestate.com
Participate in active discussions like this at the Council of Residential Specialists’ LinkedIn page at goo.gl/0EQaZh.
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