The Residential Specialist, July/August 2017

Harebrained offer

Elbowed aside by other agent

F ainthearted buyer

Pain-in-the-neck inspection

residential

july + aug

B US I N E S S I N TELL IGE N CE FOR THE CR S PROFE S S IONA L

2017

THE

SPECIALIST ALSO IN THIS

ISSUE

Knee-jerk bid rejection

Seller cold feet

CRS-029

Perk up a listing presentation Ethical behavior among CRSs Landing online leads

Apps that make the job easier Prepping a home for sale A surge in vacation home sales

THE

PAIN GAME Avoiding common pain points can be a tricky operation

You can depend on HomeTeam efficient for a faster, more effi cient home inspection every time. While onsite, each team member focuses on his or her own area of expertise—which helps us cover every area, from the ground up. With our systematic approach and detailed reports you can rest assured that you have the information you need.

That’s the HomeTeam promise.

888-539-9306 | hometeam.com/certifiedresidentialspecialist 888-539-9306 | hometeam.com/certifiedresidentialspecialist Each office is independently owned and operated.

Each office is independently owned and operated. ©2017 The HomeTeam Inspection Service, Inc. All rights reserved. ©2017 The HomeTeam Inspection Service, Inc. All rights reserved.

Franchise opportunities available: HomeTeamFranchise.com

contents 18

RELIEF FROM THE PAIN

July 20 Aug 17 vol. 16, no. 4

features

22

CRSs identify common pain points and how they manage them.

TAP INTO YOUR VALUE

By Lew Sichelman

Sellers seek listing agents who present benefits rather than features or brag books.

By Donna Shryer

26

MASTERING YOUR MORAL COMPASS

Being an ethical real estate agent can be challenging at times, but CRSs say it’s worth the effort.

By David Tobenkin

30

ARE YOU REELING IN THE LEADS? Not every online lead is going to pan out, but if you adhere to a consistent follow-up strategy, you can create connections that will pay off.

By Gayle Bennett

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The Council of Residential Specialists

crs.com

1

July Aug

contents

July 20 Aug 17 vol. 16, no. 4

7

departments

34

4 VANTAGE POINT

By Leigh Brown, CRS

16

5 SHORT LIST

No-knock laws; Zillow Zestimate under fire; the importance of privacy; get to know a first-time homebuyer; inspect your deck.

9 COOL STUFF

10

Products to help relieve stress.

10 SMART SOLUTIONS

New apps and systems can help REALTORS® with client interaction and more.

By Megan Kramer

12 INSIDE TRACK

Plan your response to the question of how to prepare a home for sale.

By Daniel Rome Levine

14 WINDOW OF OPPORTUNITY

Expensive markets are forcing some first-time homebuyers to look outside their primary markets for their first home purchase—a vacation home.

By Megan Craig

16 PEER TO PEER

inside CRS 37 NEWS FROM THE COUNCIL New CRS education courses will improve your skills and bottom line.

40 LEARN FROM THE BEST

Richard Waystack, CRS, of Jack Conway REALTORS®, Harwich Port, Massachusetts

Convincing sellers to make necessary changes to get their home market-ready.

34 WORK + LIFE

By Chandra Hall, CRS

Designing Your Life: How to Build a Well-Lived, Joyful Life by Bill Burnett and Dave Evans Reviewed by Allan Fallow

+

Interior Inspiration Blogs to inspire your next home design project.

41 CRS CONNECT 48 ASK A CRS

Fill in the blank: CRSs are ...

ON LY A T TR S MAG. C OM THE RESIDENTIAL SPECIALIST ONLINE Visit the website at trsmag.com to access the digital edition of The Residential Specialist.

REMAKE/REMODEL Trsmag.com has a brand new look! The Council recently

redesigned and relaunched the online version of The Residential Specialist. The design is cleaner, the navigation is easier and the content is updated more frequently so you get the latest and most useful news, market trends and business tips from the Council of Residential Specialists. Thank you for being a CRS!

40

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

Charm Pricing: Is It Still the Best Idea?

Research suggests pricing just below a round number is an effective strategy. But with buyers searching online, some agents believe it’s better to list the price at a round number.

Rethinking Agent Safety Are systemic changes needed in the industry to create realistic safety standards? Should we re-think agent safety to increase effectiveness and provide practical safety tips?

EDITOR Michelle Huffman mhuffman@crs.com 800.462.8841 CONTRIBUTING WRITERS Gayle Bennett Megan Craig Megan Kramer Daniel Rome Levine David Tobenkin Donna Shryer Lew Sichelman BOARD OF DIRECTORS 2017 President Leigh Brown, CRS 2017 President-Elect Gary Williams, CRS 2017 First Vice President Michael Burkhard, CRS 2017 Immediate Past President Janelle Pfleiger, CRS At-Large Member Shawn Cunningham, CRS At-Large Member Michael Selvaggio, CRS At-Large Member Mark Shepherd, CRS At-Large Member Stephen Stewart, CRS At-Large Member Vinnie Tracey Chief Executive Officer Lana Vukovljak Staff Liaison Patricia Stodolny

ADVERTISING MANAGER Chuck Gekas Director of Business Development, CRS 312.321.4443 cgekas@crs.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.

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.

COPYRIGHT 2017 by the Council of Residential Specialists. All rights reserved. Printed in U.S.A.

PUBLICATION MANAGEMENT

Working with Divorced Couples How should you handle common situations when working with a divorced couple—such as communication, working with attorneys and special financial considerations?

Agent Teams: Is This Model Right for You? Agent teams operate within a brokerage, but under their own set of rules for splitting responsibilities and commissions.

PLUS:

What should a simple, easy-to-manage website include to build an agent’s brand and provide leads? What elements are most important?

Would you like to be a source for a future story in The Residential Specialist? Send an email to mhuffman@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 2017 editorial calendar online at crs.com.

Harebraine d offer

WHO ON YOUR

Elbowed as by other ag ide ent

Pain-in-the -neck inspection

Faintheart ed buyer

reside S TEAM PECIAnLtIiSal july + aug

THE

could benefit by receiving a personal copy of The Residential Specialist?

B US I

N E SS

I N TE

LL IG

E N CE

AL

SO IN TH

ISSU IS E

Knee-jerk bid rejectio n

Seller cold feet

FO R

TH E

CR S PR OF

Perk up a listing Ethica l behavi presentat ion Landin g online or among CR Ss leads

E SS IO

NA L

2017

T

Apps tha Preppi t make the job ng easier A surge a home for sale in vacati on hom e sales

THE

PAIN GAM E

Avoiding pain po common int be a tri s can ck operatio y n

CRS-029

CRS-029

_JA17_FO

Bƒ.indd

1

STAY INFORMED

www.glcdelivers.com

The Council of Residential Specialists provides

Publishing Manager Phil Malkinson

opportunities and critical resources. The Council’s

6/13/17

Art Directors Scott Oldham Ivette Cortes

10:24 AM

superior education, exceptional networking

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flagship magazine, The Residential Specialist, delivers the latest industry trends, success stories and proven strategies to grow your business.

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]

DON’T LET IT SLIDE

from the desk of Leigh Brown, CRS, ABR, CIPS, SRES 2017 president

Ø

Photo: Mike Anderson

I UNDERSTAND THAT WE CAN’T LIVE OUR LIVES TO PICK BATTLES …

HOWEVER, IF YOU AND I DON’T STAND UP FOR WHAT IS RIGHT, HOW ARE WE TO CHANGE THE EXPERIENCE OF THE CONSUMER AS IT PERTAINS TO REAL ESTATE?

July Aug

4

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You see someone at the grocery store leaving their cart. Not in the corral, not walked back to the store, just left there all alone and abandoned.

The perp doesn’t even look ashamed. She looks you dead in the eye and gets in her minivan to drive away.

What do you do? You’ve got two choices.

1. Chase her down. Call her out for her behavior and make her march that cart right where it belongs.

2. Let it slide.

Too often in real estate, we’re choosing to let it slide. The agent who failed to make an appointment at your listing, but showed up anyway and got into the house? You let it slide because she’s bringing an offer and you don’t want to upset the apple cart. The agent who told your clients at their open house that there are ways to change agents? You let it slide because you know your clients are loyal and it’s not worth a battle.

Currently, the situation with “coming soon” listings has created a whole new Wild West of drama and ethical concerns. Who exactly is seeing this “coming soon” listing? What exactly is being shared with potential buyers and sellers? If you watch what agents are saying on Facebook and Twitter, you’ll find that there are many rather icky situations occurring all over the country (yes, icky is a technical term).

What’s a CRS to do when encountering these situations? You’re busy selling houses. You know that you’ll potentially have to deal with this agent 14 times over the next 10 years and you just don’t want the bad blood out there. It’s a time suck. The grievance committee never finds anyone at fault. It won’t change anything.

Does that cover most of your excuses for not filing complaints?

I understand that we can’t live our lives to pick battles. That it’s an exhausting way to live, being the police in a self-policing profession. No one ever liked the kid who wrote names on the board in class. However, if you and I don’t stand up for what is right, how are we to change the experience of the consumer as it pertains to real estate? How are we to attract the best and brightest into this profession so we can elevate our own competition and standards?

This isn’t about being liked. This is about our whole profession. Y’all, this is a big deal. The more transactions you do, the more ethical digressions you’re likely to encounter. The fact that we have so many situations happening out there is a growing issue, considering the amount of money at stake on each transaction, particularly considering the lack of inventory in many markets, which is creating a very competitive— yeah, cutthroat—environment. It’s up to us, the CRSs, those who are purportedly at the top of the entire industry, to carry the torch—to file the complaints, and stand up for what is best for the consumer and what is best for our profession.

It’s a hard job, but I know you are up to it. You’re a CRS.

[short list]

+ industry headlines + statistics + trends

Ø

knock it off

Laws targeting real estate agents and developers who solicit homeowners are gaining a foothold in communities around the Northeast.

These “no-knock” or “do-not-knock” laws are aimed at real estate agents and developers who knock on doors and push owners to consider selling. With the inventory problems plaguing many communities, residents are complaining that these individuals are aggressively trying to convince them to list their homes.

In Jersey City, residents can sign up for a “no-knock” registry and receive a decal to display that warns solicitors to

back off. Any solicitor who violates the law could face fines of up to $2,000.

While a “no solicitation” law already existed in the community, this new law expands it to include anyone offering to buy real estate for themselves or as an agent or broker for a third party.

Other towns are strengthening their existing laws, and are citing pushy real estate agents as the motivating factor. In upstate New York, the communities of Lakewood and Stony Point are also adding no-knock registries, and increasing solicitation permit fees as well as fines for violators.

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July Aug

Zestimate

Zettlem

[short list]

? ent

+ industry headlines + statistics + trends

I’LL ZEE YOU IN Ø

The Zestimate: The bane of many a real estate agent’s existence, and what one homeowner in the Chicago area is calling “a roadblock” to selling her home at what she thinks it’s worth.

Glenview resident and real estate attorney Barbara Andersen says the Zestimate, an algorithmic estimate of a home’s value provided by Zillow, has seriously undermined her efforts to get what she believes is the full-market value of her home, according to a complaint filed in court.

She’s not seeking any money from Zillow but instead wants the

court

court to compel Zillow to remove the Zestimate or amend it to an “agreeable market value.” Zillow’s policy is to not manually alter or remove any Zestimate.

Andersen claims in her complaint that Zillow is acting as an appraiser, and therefore “should not be engaging in this business practice without a valid appraisal license and, further, the consent of the homeowner.”

In a statement, Zillow says it carefully explains that a Zestimate is not an official appraisal, but rather a starting point for how to discuss property value.

Andersen believes the home is being compared to properties built later, more cheaply and in a different, less-desirable area, and is therefore undervalued by Zillow. The asking price on the home was $626,000 when it went on the market in the spring, and Zillow estimates the property at $555,000, according to Crain’s Chicago Business. She bought the home in 2009 for $628,500.

While the company’s Zestimate has been the source of controversy and consternation for many homeowners, it has so far not led to any high-profile lawsuits from homeowners.

PRIVATE LIVES Don’t underestimate the power of privacy. Homebuyers say that privacy and having a space that is solely their own is the leading goal of homeownership.

In a recent survey of homebuyer preferences on Realtor.com, privacy even nudged

July Aug

6

out the much more practical desire of finding a space that addresses family needs.

Privacy becomes increasingly important as buyers age up.

Other big reasons to buy a home: stability, financial investment and physical comfort.

Many are also looking to buy simply

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20 17

because they are sick of their current home.

As for the architectural details: Ranches are the most popular style of home (and were dubbed the favorite of 42 percent of respondents—by far, the top choice), the kitchen is the most important part of the home (80 percent say so), and most people are looking for that

sweet spot of a three-bedroom, two-bathroom configuration.

While most of these preferences held true through multiple age groups, the 35-to-44 range showed slight variations. They were less interested in the ranch style

home, and were more prone to requesting four bedrooms, likely because they have growing children.

The most searched attributes at Realtor.com were large backyards, garages and updated kitchens.

Read the complete results at research. realtor.com/spring-home-shoppers.

FEELS LIKE THE FIRST TIME What does today’s average first-time homebuyer look like? Here’s a by-the-numbers view:

First-time homebuyers make up

35 %

32

of all homebuyers The median home price they purchase is

$

182,500

$

The median down payment is

6 87 %

Prior to buying a home,

74% 21% rented and

are white

with a median income of

8%

9%

are Asian or Pacific Islander

are Hispanic

72,000

For a married couple (58 percent of buyers), the median price is

%

were born in the U.S.

70 %

The median age of this buyer is

$

208,500

For a single male (8 percent of buyers), it’s $

157,000

For a single female (18 percent of buyers), it’s $

146,300

For unmarried couples (14 percent of buyers), it’s

$

165,500

3%

7%

identified as other

are black

60 %

lived with parents

have no children

82

19%

%

have one child

Source: National Association of REALTORS® Profile of Home Buyers and Sellers

are looking for a detached single family home

15 % have two children

9%

are looking for a townhouse

5%

have three or more children

2%

want to purchase a unit in a two to four unit building

1%

want to purchase a home in a five-or-more unit condo building

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July Aug

INSPECT YOUR

[short list]

+ industry headlines + statistics + trends

A guardrail should not be climbable.

deck

Guardrails must be affixed to decks that are raised 24 to 30 inches above ground. The guard rail itself should be 36 to 42 inches tall.

Ø

Summer usually means long, sunny days spent outdoors, and for many homeowners that means lounging on your deck.

But each year, reports of decks and porches collapsing, injuring and sometimes even killing people reinforce the importance and value of ensuring proper deck safety.

Here are some tips to ensure optimal protection that all agents can share with clients, prospective clients and friends: Keep in

mind that higher decks need thicker posts.

Use wood stains and sealers to exclude water and prevent rot.

This keeps the wood from warping and splitting.

A strong deck should be as strong as the floor of your house. This is typically 40 pounds per square foot, depending on the code in your area.

Consider synthetic deck materials such as recycled plastic or recovered wood fiber. They are maintenance-free and good for the environment.

Ensure the deck has proper footings (where the weight of the deck bears down onto the soil) and that it’s evenly spread to prevent sinking.

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8

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The main beam needs to be stiff enough and hold in place so that it will not sag as it transfers the load from the deck joists to the posts.

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Spend a little more to get premium treated decking.

It’s about a 50 percent higher cost, but the life cycle is about 20 years.

For more information, please contact the nationwide experts at pillartopost. com.

FREEDOM FROM THE

[cool stuff]

acquisitions on a theme

stress

WRIST ASSIST

The Sona Connected Bracelet has a sleek, upscale design that makes this wearable look a little more like a fancy bracelet or watch than a device that tracks your brain and body. Sona’s flagship program is Resonance, which paces $ 199.00 your breathing in tune with your heart. Its activity tracker also tracks your energy burned, steps, distance and heart rate, and it helps train you to be more resilient and to stay calm when under stress. caeden.com/sona

HOLY SHIATSU!

$

249.99 brookstone.com $ 99 9. / month

ASPIRE TO RELAX

Spire, a small clip-on wearable, is sort of like a Fitbit for stress. It does a lot of the same things the ubiquitous fitness product does—tracks activity, steps and calories—but it also tracks your stress levels by location, time and activity, and offers brief exercises for you to literally catch your breath when things get overwhelming.

Its app’s Breathwave feature is a live feed of your breath, and it notices when your breathing is tense and coaches you toward calm.

spire.io

Who doesn’t want a good massage when you finally wind down after a stressful day? This neck and back massager has eight deep-kneading massage nodes and three automatic programs to choose. Hang it over your shoulders or your back for deep relief. If you feel your feet are really where you need some help, Brookstone also offers a heated foot massager—but it will cost more for your poor feet.

$

129.95

$

Phew! Been busy buying and selling this season? By July, many agents are feeling that dreaded burnout starting to sneak up and sap some of their energy. So invest in a little meditation, relaxation and stress-reduction to get through the rest of the season until the fall comes—and everyone itches for the rush of the buying and selling frenzy to begin again.

99.00

QUIET YOUR INSIDE VOICE

TREAT YOUR HEAD RIGHT

choosemuse.com

headspace.com

The benefits of meditation are numerous—it reduces stress, improves concentration and boosts health—but for a lot of people, getting into a groove so they can reap those benefits is a real challenge. Muse promises to be your personal meditation assistant, giving you feedback about your meditation in real time: When your mind is calm, you will hear calm and settled winds, and when your mind is active, $ 249.00 the winds pick up and blow. For the competitive spirited, you can track the results of each session and try to achieve better meditation each day.

Headspace has quickly become the prevailing meditation and mindfulness app with more than a million downloads. $ The app starts you out 12.95/ month on a free 10-minutes-aday, 10-day meditation program that trains your mind to start practicing meditation. After that, you’ll have to subscribe, but you then unlock a catalog of programs that can focus your meditation on specific goals like health, performance or relationships, or help you in SOS moments of stress.

SWEAT IT OUT

Exercise is one of the best natural stress relievers available, but you don’t have to hit the gym for it. The FitFusion program offers a seemingly endless number of exercise programs from well-known trainers that you can stream on multiple devices wherever you are. Available on iPhone, Android, AppleTV, Roku, AndroidTV and FireTV—the accessibility of the programs leaves you with little excuse not to sweat a few minutes a day, no matter what’s going on. fitfusion.com

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July Aug

[smart

solutions]

streamlining your business through technology

EXPLOSION OF

options

New apps and systems can help REALTORS® with client interaction and more.

Intercom

By Megan Kramer

Easy Live Chat Platform for Your Website

Ø

REALTORS® juggle an ever-expanding number of work-related and personal responsibilities every day.

Fortunately, there are a variety of mobile apps and other systems that can help REALTORS® stay on the cutting edge of business, as well as organized and productive in their daily lives. Here are some ideas:

Contrary to popular, work-minded belief, you can’t be tied to your phone and website 24/7. Intercom can help you engage with your website visitors automatically by triggering customized pop-up messages when they click certain pages.

You craft the messages beforehand, so they can be as creative and informative as needed.

For example, if potential buyers are browsing properties on your

neighborhood page, you can trigger a message that says, “Looking to buy a place in [location]? I am a REALTOR® with 10 years of experience, and I have helped dozens of homeowners find their dream home within their budget.”

If you’re not able to reply, visitors can leave their contact information so you can reach out later. Members of your sales team can also reply to certain messages, based on type of visitor, keywords and more.

Agent Legend

Automated Lead Follow-up

Since you can’t spend all your time prospecting, an automated follow-up system like Agent Legend can help you respond to leads from all over the internet, even when you’re busy.

The software intercepts new entries into your CRM or marketing suite, and automatically launches a threepronged follow-up process: voicemail, text and email. What each message contains, and how often and when they’re sent are up to you, and the voicemail is

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recorded in your voice, so leads won’t mistake you for a bot.

Agent Legend has partnered with several sites, including Realtor.com, and its dashboard separates campaign creation and management from a prospect list, neatly detailing the lead’s name and contact information, what property they contacted you about and what device they used when they responded. The campaign immediately stops once the lead replies to one of the messages, allowing you to take over the conversation from there.

Riley

Ingage

Lead Qualification with a Human Touch

Visual Presentation Tool

If you prefer a human to initiate your lead follow-ups, fear not. Riley is a concierge service that sends text messages on behalf of agents, and it employs real people who will respond lightning-fast.

Since they are based all over the world, Riley concierges respond to leads within minutes of receiving inquiries, such as listing portals and Facebook ads, no matter the time of day. They then ask follow-up questions to gauge a potential buyer’s preferences and qualifications. You can see the text exchanges in Riley’s mobile app, so you can jump in at any time.

Riley provides recommended texts for concierges to send in specific scenarios, and the degree to which they can customize these texts is up to you. Agents have the option to prescribe questions, responses and engagement guidelines.

Are your listings lacking pizazz? Create visually appealing and engaging presentations with Ingage, an interactive app you can use to create and present a listing. Using ready-to-go templates, Ingage can incorporate your existing photos, videos, text, logos and other assets into presentations that clients can interact with.

Ingage boasts a variety of tools, such as: ÄÄ Compare—Users can scroll between two images, which is ideal for before-and-after shots of staging or remodeling. ÄÄ Points of Interest—Touchable buttons reveal information that needs emphasis, such as high-end appliances in a kitchen or unique furnishings. ÄÄ ScrollMotions—Interactive videos that are manipulated by tapping the screen or dragging a finger to move forward or backward, pause or play.

While Ingage is an iPad-first mobile app, you can package and share web-ready versions for non-iPad users. Ingage is also integrated with MailChimp, Dropbox, Box and other applications for easy access to assets and sharing.

Realvision

3-D Tour Builder

To have an even greater impact on potential buyers, Realvision has made it possible to create 3-D tours with a regular DSLR camera—it doesn’t require a special type of camera. Realvision works with a network of professional photographers, whom you can hire to capture 360-degree views of the space you’d like to show off. They then build a 3-D tour based on these images, extract high-resolution 2-D images and create a floor plan, all of which are packaged into a single-property website.

“I’ve been using Realvision through local providers for just over two years now,” says Brandon Doyle, REALTOR® at RE/MAX Results in Maple Grove, Minnesota. “The technology helps buyers get a better idea of the layout of a home prior to showing, and allows them to go back and take a second look or share with friends and family without having to schedule another showing. Sellers have been

very impressed as well: We’ve been able to set ourselves apart from the competition, win more listings and sell our homes more quickly.”

Viewers can also experience the listing in virtual reality (VR) by using the Realvision app in combination with certain VR headsets, like Google Cardboard.

“I would recommend Realvision for any real estate agents who focus on listings and want to be on the cutting edge of technology,” Doyle says.

IS A NEW TOOL RIGHT FOR YOU? There are so many apps and systems out there, you might find yourself attracted to every available option. But before you make the leap and invest in a new tool, make sure it will benefit your business—and not bog you down.

Here are some questions to ask yourself before committing to a new app or system: ÄÄ How much time will you save? ÄÄ Will it make you more efficient, or complicate work flow? ÄÄ If you have a team, can the tool be shared across multiple users? ÄÄ How long is the implementation process? ÄÄ Is the effort to learn the tool and implement it worth the end benefit? ÄÄ Will it complement other tools in your sales process, or clash with them? ÄÄ What are other REALTORS® saying about the app or system that you can relate to?

Interested in real estate tech? Inman Select has many app reviews. Access this free service through CRS at CRS.com/ inman-select.

Megan Kramer is a freelance writer based in the Chicago area.

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July Aug

PREPPING FOR

[inside track]

success

what’s trending in real estate

By Daniel Rome Levine

Ø “ A WISE INVESTMENT UP FRONT PAYS HUGE DIVIDENDS ONCE THE PROPERTY HITS THE MARKET.” —Carl Medford, CRS

July Aug

12

Moving into a new home is far more exciting than leaving an old one—decorating options, furniture choices, paint colors and landscaping designs abound. But convincing sellers to stop for a moment and focus on maximizing the value of the house they are leaving not only ensures a speedy sale at the highest possible price, but it helps cement your reputation as the go-to REALTOR® in your community.

Inspect Up Front

In the San Francisco suburb of Fremont, homes don’t stay on the market very long.

Inventory is tight and there are ample buyers lined up with offers. The challenge for Carl Medford, CRS, is convincing sellers that even though their property may sell quickly, they won’t get top dollar unless they invest in preparing it for the market effectively.

The Residential Specialist trsmag.com

Plan your response to the question of how to prepare a home for sale.

And that’s not such a tough sell, says Medford, head of the Medford Real Estate Team, Keller Williams Benchmark Properties, in Fremont.

Convincing clients to make upgrades to the house they are selling is far easier than it used to be, he says, in large part because of the popularity of cable TV home remodeling shows featuring people who have realized big profits undertaking renovations.

“With everyone watching HGTV, people understand right away that the only way they will get top price is if they prep the property effectively,” Medford says. “A wise investment up front pays huge dividends once the property hits the market. We are seeing a normal return on every dollar invested of $2 to $3 back to the client when the property sells, and sometimes dramatically more. It’s a huge value-add for our clients.”

Medford only goes into detail with clients as to the cost of specific fixes and what the expected return might be once they have signed

a listing agreement. Up to that point, he only shares general ideas on possible upgrades.

The incentive to work with Medford is high, because he offers potential clients access to a full-time property prep manager on his team who coordinates and prioritizes all renovations. The property prep manager helps clients develop a comprehensive, written plan of what needs to be done and coordinates the various workers required to complete the job.

Helping clients prioritize the work is key. “The property prep manager knows what items will reap the highest benefit and which things do not need to be done,” Medford says.

Medford places such a high priority on getting properties perfectly prepared for sale because his market demands it. “Property prep and staging are critical in our market because there is an increasing trend of millennials only buying homes that are fully prepared and move-in ready,” he says.

Instead, he told the children that if they invested in new windows, a minimal kitchen remodel, refinishing the floors, painting the walls and ceilings, and installing a few new light fixtures, they could sell the house for a price that would more than cover their investment.

The children agreed, paid for the fixes and were well-rewarded. The house sold for $655,000.

“While I strongly believe that property preparation and presentation are key to attracting the best offers in the shortest amount of time, the decision is always up to the client,” Kuhlman says. “My job is to make sure clients know and understand their options.”

Seeing Is Believing

Waylon Chavez, CRS, a broker with ABQ Premier Properties, in Albuquerque, who has published a book, 6 Ways to Profitably Sell Your Home, also finds it effective to share previous success stories to help clients understand why they should invest in property preparation.

Wise Advice “Most of the time, when I am done talking, they In suburban Boston, Bill Kuhlman, CRS, with are asking me when everything will be set up,” Keller Williams Boston South West, says most he says. “Even when inventory is tight, a home sellers understand that a property will sell that looks good and is in good working order faster and for more if it is in the best possible will stand out from the crowd.” condition prior to hitting the market.

Chavez does not wait until a client has signed The clients he has the hardest time cona listing agreement to go into detail with them vincing are those who have a home that is as to what fixes he thinks are necessary. “I in complete disrepair or who are selling the believe in sharing and helping others in any way property for a family member who is elderly I can, even if they do not select me to work with or deceased. them,” he says.

In these cases, he gets clients to see the To help illustrate the importance of property benefits of investing in prep work by providpreparation, Chavez often drives clients around ing actual examples, including specific dollar their area showing them other homes for sale, amounts, of past clients who have and have or ones that have recently sold, and pointing not upgraded their homes before putting them out the difference in price between those that on the market. The difference in net proceeds were carefully prepped and those that were not. between those who invested in presale prepa“Sometimes numbers aren’t enough and they’ve ration and those who didn’t gets the attention got to see it with their own eyes,” he says. of clients.

First impressions also matter a great deal to Kuhlman recently worked with the adult buyers, says Chavez, and that is why he stresses children of an elderly man who were trying to to clients to pay special attention to making figure out how to sell their father’s mid-1950s sure the property’s exterior, and especially the house. They were unsure what to do because the front of the home, is in pristine condition. “The family’s attorney was offering them $375,000 front of the house is the first thing people see for the modest home, which was located in a when they arrive,” Chavez says. Creating the high-demand area, in its present, relatively poor strongest possible curb appeal means having, condition. While that approach would certainly at a minimum, a well-manicured yard, neat and have made their lives easier, to Kuhlman it trimmed landscaping, and clean windows. looked like an attempt by the attorney to flip the property for a hefty profit.

Daniel Rome Levine is a freelance writer based in Chicago.

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BEST BANG FOR THE BUCK

Top projects for adding value to homes at resale: ÄÄ Kitchen renovation ÄÄ Kitchen upgrade ÄÄ Bathroom renovation ÄÄ Add new bathroom ÄÄ New master suite ÄÄ New wood flooring Source: National Association of REALTORS® Remodeling Impact Report

Instructor Chandra Hall shares some tactful strategies to get clients to commit to putting some work into their home—without offending them or scaring them off—on page 40.

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[window of opportunity]

strategies to grow your business

JUST A

second Expensive markets are forcing some first-time homebuyers to look outside their primary markets for their first home purchase—a vacation home.

By Megan Craig

Ø

Availability of homes for firsttime buyers is failing to keep pace with the number of millennials looking to buy, according to a recent report from the National Association of REALTORS®.

That rift in the housing market has created a new phenomenon: first-time homebuyers investing in vacation homes outside the market where they primarily live.

It’s unclear exactly how common it is for a first-time homebuyer to purchase a vacation home, rather than a primary residence. The NAR doesn’t keep specific data on how many first-time homebuyers are purchasing non-primary homes, says Jessica Lautz, NAR’s managing director of surveys and communications.

But she’s hearing so much about the trend, she plans to start tracking that data this year.

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“For the more affordable homes that are on the market, the inventory is so tight that it’s hard for first-time homebuyers to get in the market,” Lautz says. “Prices are rising rapidly in many local markets, impacting who can buy a home. There’s a lot of competition and a lot of demand for first-time homebuyers.”

Priced Out

Bruce Soli, CRS, CDPE, CLHMS, is a REALTOR® in Lake Tahoe on both the Nevada and California sides, a market consisting mostly of second homes. Soli says he sees some buyers who are gainfully employed in the San Francisco Bay area who have very high-paying jobs, but who still can’t afford to

buy a place in one of the most expensive markets in the country.

Those buyers want to get into the housing game, so they buy their lifestyle home instead of a primary residence, Soli says. And even though the home isn’t a primary residence, it still qualifies the person for the same tax benefits as any new homeowner.

“They’re gaining equity,” he says.

“They’re choosing to buy a home in a place where they like to vacation anyway. It’s their escape from that urban environment.”

As an added financial benefit, first-time homebuyers in a vacation-home market may be able to rent out the home as a short- or long-term vacation rental when

mile-high prospects

Catskill Mountains. “Many of my clients [from New York City] go for their vacation home first because they are getting so much bang for their buck, and they want to have a place to call their own.”

on the beach or in the mountains, they’ll do it, says Claire Jean Prager, CRS, an associate broker with Coldwell Banker in Tucson, Arizona. That’s because they want the flexibility that comes with renting where they work and owning where they play.

“They want to remain mobile— so they’re not very invested in purchasing a home in the city where they’re working,” Prager says.

“They don’t know they’re going to stay at that job forever, but they do know they’ll always love canoeing, or they’ll always love skiing.”

And with ease of communication via internet and cell phone, many people have the freedom to work from home, rather than being tied to an office. This allows them to purchase a secondary home to use more often than just on weekends, she says.

“Buying a home in the Catskills, for example, is all about lifestyle— clearing your head of all the noise and pollution, high prices and too many people,” Breslau says. “Peace of mind is worth its weight in gold these days.”

Not Tied Down

Megan Craig is a freelance writer based in Chicago.

If millennials are buying second homes first because they’re priced out of their primary market, it makes sense that one of the fastest-growing markets—with a relatively small number of starter homes—would be the next to price people out of the primary market and into the vacation market.

That makes Denver the next major market likely to see millennials buying vacation homes instead of primary residences, says George R. Harvey Jr., CRS, an owner/broker in Telluride, Colorado.

“Millennials do want to buy, but they’re struggling because so many markets are just unaffordable. I’ve just described the Denver market: It’s flooded with millennials because of a great job market, but first-time homebuyer opportunities are not so good,” Harvey says. He says he wouldn’t be surprised to see Denver as the next priced-out market, pushing potential first-time buyers out to less expensive vacation towns surrounding the city.

“Many (potential first-time buyers) have a good income, and they hate wasting rent money because they’re not getting anything back as an investment,” he says.

“So they might start thinking, maybe I’ll buy a little place somewhere else.”

they’re staying at their primary residence, covering the mortgage or earning money off the property.

Plus, they don’t have to spend additional money on weekend getaways.

“The thinking is that they will endure their tiny apartment, and stretch out and enjoy the country on the weekends,” says Sharon Breslau, CRS, an associate broker at Westwood Metes & Bounds Realty in Woodstock, New York, in the

As soon as millennials realize they can have a reasonable amount of student loan debt, put 3 percent down and get a home

If you live in a place where vacation homes are popular, consider purchasing an ad in the CRS online or print directory to increase your chances of referrals.

CALIFORNIA SCREAMIN’

First-time homebuyers are most likely to buy a vacation home before purchasing a primary home if they’ve been priced out of their primary-home market. According to the National Association of REALTORS® report on median sales prices of existing single-family homes in the last quarter of 2016, the most expensive markets (and median home prices in those markets) are:

San Jose, California, metro area $

1,005,000

San Francisco metro area $

837,500

Anaheim/Santa Ana, California, area $

745,200

Urban Honolulu $

740,200

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San Diego area $

593,000

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Jack Conway REALTORS®, Harwich Port, Massachusetts

RICHARD WAYSTACK, CRS

How and when did you get started in real estate?

After a few years of corporate ladder climbing, I decided that I wanted to settle down in one place and not move my small family of my bride and two young children every year.

We came to the Cape for the summer of 1986, and after a week or two, got a bit bored and went into my dad’s real estate office. I was enamored with how he interacted with his clients and his knowledge of the business, and I found that he was happier than he had ever been. He, too, was in corporate life—in sales—and he found his niche on Cape Cod in real estate. After a few days in his office, I realized that this was the life I wanted for my family, in a place that I had always loved, living by the ocean on Cape Cod! What do you like about being a CRS? Probably too much to share here. But to summarize, being a CRS has given me the opportunity to have a successful career, not to just be another REALTOR® selling houses. CRS members have shared willingly and freely of their time and talents to train and assist me and so many other CRSs, specifically people such as Howard Brinton, Jackie Leavenworth, Russell Shaw, Alexis Bolin and Lenny Harris.

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Tell us a little about yourself. What do you do in your spare time?

I enjoy being busy. In addition to working with a set number of clients per month, I am active in my community, in my church and with my family.

Personal travel adventures with my bride and family are a yearly occasion, and as many know, Friday night has long been date night in my family, a tradition that rarely, if ever, is compromised!

been honored to walk across the Cape—107 miles—to raise funds and awareness of homeless prevention. Habitat for Humanity has been a huge part of affordable housing here and we have been fortunate to assist them as well.

I am most proud of having the opportunity to assist those on Cape Cod who are battling addictions. Working with others to solve common problems, counsel those in need and assist in emergency interventions is a priority in my life.

You’re still taking classes despite having achieved your designation Tell us more in 1997. Do you feel about your dad’s it’s important for influence on CRSs to be lifelong your career as learners? a REALTOR®.

There is a whole new generaThis year, CRS is My father, Phil Waystack, was tion of talented CRS members focusing on how You sold your a wonderful, caring man, who who are not only sharing, but business and now real estate agents found his place in the world having a tremendous impact work by referral do more than just as a REALTOR®. There is a on our Council and the indusonly. Can you offer buy and sell homes, print hanging in my office, try in general. Their updated any advice for other and it sounds which has been there for over business models utilizing CRSs who might like you’re very 20 years, and it sums up who breaking technology and be looking to sell involved in your my dad was. social media marketing techtheir business but community. Can My dad sold mostly niques are adding energy and remain active? you tell me about new homes as a builder’s excitement to our organization. your community Be involved in your community, representative. At one closing Lifelong learning is one of become the local trusted service efforts? with an investor, there was the keys to CRS success. No advisor and have a strong I’ve long believed that to a small discrepancy on a matter how much experience database that you utilize. This whom much has been given, fee. The investor believed my we have, our industry conwill give you something of much is required. My family dad had mentioned another tinues to evolve and we must value that will be of interest has been blessed in so many amount. My dad said, “If that continue to meet the needs to others, and allow you ways, so we work with many is what you believe that I told of our clients, our markets to continue to foster and in our communities who have you, then that’s what it will be!” and our industry. Just look at not been as lucky. For over 25 build the database which The amount was changed and another of the CRS legends, adds substantial value to a years, I was associated with everyone went away happy. our friend, The Hat Lady, The Family Pantry of Cape Cod, purchaser. Gary Rogers has A few days later, a package Sandra Nickel. For as many a great program that lays a food bank that distributes arrived at the office. In it was years as I can remember, she out a road map of how to sell over $3.5 million in food and a framed print from a wellsits in the front row of every your business and your book clothing to those in need on known New York artist, and at Sell-a-bration®, copiously of business, and maintain a Cape Cod. For the last three the bottom it read, “To Phil, a taking notes of every speaker referral income for life. years, my bride and I have man of his word.” It was what and presenter on stage to Richard Waystack, CRS, achieved his my dad was all about, being utilize whatever information CRS designation in 1997. He can be reached at rwaystack@waystack.com true to his word, to his busishe can to better her business or 508-776-0964. ness and to his community. and her clients.

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Photo: Tracy Powell

[peer to peer]

profiles of people to watch

For the past three years, Richard Waystack, CRS, has walked across Cape Cod, a 107-mile journey, to help raise funds for homeless prevention. He has also assisted Habitat for Humanity, which has played a large role in providing affordable housing in the area.

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Low Appraisal

No Financing

Inexperienced Agent Postponed Sale Lost Listing

Invalid Online Valuation

Poorly Worded Agreement

Uneducated Buyer

Stress Poor Inspection

Miscommunication Stubborn Client

Lowball Offer

Family Interference

Unrealistic Seller

No Staging Overpriced Listing

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mind your

business

[feature]

PAIN relief from the CRSs identify common pain points and how they manage them.

By Lew Sichelman



Real estate transactions rarely go smoothly. There’s always a blip somewhere along the line—a “pain point,” if you will. Perhaps an unexpected appraisal that comes in too low, or maybe a home inspection that identifies major problems that neither the seller nor the buyer were aware of.

Perhaps your first-time buyer is being questioned by mom and dad for spending “that much.” Or maybe the buyer’s financing fell through.

The Listing That Got Away

For Jane McCracken, CRS, of Keller Williams Realty in Nashville, Tennessee, the biggest pain point comes before there is a sale, when she is trying to nail a listing. After spending hours Investing with a potential seller, the client chooses to go time, with a discount broker. McCracken calls it “a but not kick in the gut.” It doesn’t happen that often, securing the listing but when it does, she says, it hurts.

Not long ago, McCracken received a call from a potential seller in the area where she resides to discuss listing their house. After meeting with the would-be client, a listing agreement was signed. But because the sellers were unsure of exactly when they would put the house on the PAIN POINT

market, the date was left blank.

McCracken suggested that the sellers hire an inspector to examine their 1960s-era house, which they’d lived in for almost 20 years. Once the inspection report was received, she says, “I spent hours going through it, explaining what was pertinent to getting their home sold.” Next, she advised the sellers how to stage their place. And “ What about the then she was asked to pain points for advise them on what colors to paint the listings? We do house, a job for which all that work, but she supplied her venwe don t get paid dors. “Each [meeting] was several hours,” for our expertise. she says.

There should be As winter approached, the a way to protect sellers said they’d like ourselves.” to postpone the sale —Jane McCracken, CRS until spring. And as each month went by, McCracken touched base with the sellers, every time getting the same response: “Thank you, but let’s get it on [the market] in the spring.” Then, in response to a March voicemail, she received a lengthy text message that said, in effect, that

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[feature]

mind your business

the sellers had decided to take their business elsewhere.

“I was so shocked, I was frozen for a day,” the agent says.

She called again, leaving a message explaining that the reason she spent so much time and effort with them was because they had signed a listing agreement. The sellers responded that things had changed since the contract was signed. So there was nothing McCracken could do except to wish them the best and tell them she was there for them if she was needed.

“We all talk about pain points being appraisals, buyers who don’t qualify or buyer’s remorse, but HOW TO SPELL what about the pain points for listings,” she says.

‘RELIEF’ “We do all that work, but we don’t get paid for our expertise. There should be a way to protect Explain your role, ourselves.” your value Next time, the Nashville agent says, “I would proposiexplain my role more, how I work and what I get tion and paid for. It’s not just putting a listing into the MLS; what you it’s knowing how to get a house ready to sell, and by are being compendoing that, we are entering into a listing agreement. sated to As agents, we sometimes tend to just go through do for the the steps. But we need to slow down and explain seller. our value proposition to would-be clients.”

Trump the Inspection

Home inspections probably kill more deals than appraisals and financing combined, which PAIN POINT is why Pat Wattam, CRS, of RE/MAX First in Baton Rouge, Louisiana, calls it her biggest bugHome aboo. Inspections “irritate me to death,” she says. inspecTo guard against major problems uncovered tions that by the buyer’s inspector, Wattam advises sellers kill a deal to obtain their own pre-inspection. “No two inspectors will have the same list [of issues], but they will both find any big ticket items that the seller needs to know about and address,” she HOW TO says. “If the seller doesn’t get a pre-inspection, SPELL I guarantee something is going to come up.”

‘RELIEF’ The Louisiana agent tells her sellers to correct Recomthe big things and cover the cost in the asking mend a price. Otherwise, she warns, buyers are going to pre-inspecbalk when their inspector finds the same things. tion, ask sellers to And if the seller doesn’t agree to do everything correct the the buyers ask, they can walk away. big items Wattam learned a long time ago to give her and stay seller-clients some time “to steam a bit” when away from they receive their inspector’s report. She stays the sellers for a few away for an hour or hours after two and then calls— “ No two inspectors will have the same list [of the preinspection issues], but they will both find any big ticket items but “just to listen,” she says. “Many times, report is that the seller needs to know about and address. If the sellers will talk received to allow a the seller doesn t get a pre-inspection, I guarantee themselves into doing “cooling what I would recomdown” something is going to come up.” mend, but now it’s period.

—Pat Wattam, CRS their idea.”

clear your own head first PAIN POINT

Accumulated stress

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To remain balanced, Jeremy Caleb Johnson, CRS, of Long & Foster in Virginia Beach, Virginia, does yoga and uses the Headspace app, a meditation tool he describes as a “gym membership for your mind,” which acts as a personal trainer for the brain. “To work through the emotional and financial issues and get everyone to close, I’ve got to get clarity first,” he says. “And that comes from a clearheaded, neutral position.”

Johnson also sets clear expectations for his clients. “Just because they can’t reach me right away or they’re not getting an immediate response doesn’t mean I’m not working hard for them,” he says. “In order to ‘work my real estate magic,’ I need some quiet time and some down time. And that may occur at times that may not be convenient for them.” As a result, Johnson is usually home for dinner five out of seven nights a week.

Here, communication is key. “As CRSs, we’re in the business of fixing problems just as much as we are in preventing problems,” he says. “If you can maintain good lines of communication with your clients and with the co-op agent, you’re likely to have a smoother go of it.”

HOW TO SPELL ‘RELIEF’

Make lifestyle changes and use tools that help you de-stress and maintain clarity.

Good communication with clients is key.

mind your business

LET THE EXPERTS BE EXPERTS

Experience Counts

Marie Presti, CRS, broker-owner of the Presti Group in Newton, Massachusetts, has PAIN POINT a long list of pain points, everything from a lack of inventory to the lack of understandAn inexing of the appraisal process and bidding perienced wars on the part of buyers. But tops on her buyer’s scorecard is an inexperienced buyer’s agent. agent Over the years, Presti has run into numerous agents who don’t know how to negotiate. At that point, she says, “It becomes very confrontational.” That, or the agent becomes “so complacent that the agent doesn’t do anything, and the buyers are left to make all the decisions on their own.”

Of course, everyone prefers to work with agents who have some years under their belts. “It seems as though if you have experience, you can work through any issue,” Presti says. “You can always tell when the other agent is experienced because they know how to manage their clients. Buying or selling a house is extremely emotional—things usually come up. But if the other agent is experienced, he can calm down his client and get to the heart of the issue.”

HOW TO SPELL When Presti runs up against a novice buyer’s ‘RELIEF’ agent, she ends up “being their mentor for the transaction.” After all, she doesn’t have much This is an choice. “It’s frustrating for me because I end up opportunity to having double the work,” the 17-year veteran says.

“But it’s not a matter of whether she wins or I win. mentor the new agent.

It’s a matter of getting the sale closed.”

“ It seems as though if you have experience, you can work through any issue. You can always tell when the other agent is experienced because they know how to manage their clients.”

—Marie Presti, CRS

Unrealistic Expectations PAIN POINT

Unrealistic expectations about the anticipated outcome of the appraisal

Appraisals haunt Gary Neubauer, CRS, broker associate, Coldwell Bankers REALTORS® in Fort Myers, Florida. But not because they are too low.

“Appraisals are the most accurate I’ve seen in my 40 years,” he says. “Accurate data is out there and they know where to find it.”

No, what bothers Neubauer the most is that both buyers and sellers “have unrealistic views” about valuations. Consequently, he says, “I tell my people upfront that when financing is involved, they are going to have to accept the

[feature]

Nothing bugs Thomas J. Nelson, CRS, more than clients who think what they’ve seen on the internet makes them experts. Says Nolan, a podcast host, blogger and agent with Big Block Realty in San Diego: “My 30 years of experience just goes by the wayside. They don’t let the experts be the experts.”

Some of this falls on the real estate business itself, Nelson says. Beside a low point of entry, new agents aren’t taught that when they obtain a license, they don’t have a job, they are business owners. Also, “there’s a lot of one-and-done kind of mentality out there.”

Agents “don’t do a good job setting themselves apart,” he says. “A lot of agents can’t defend their value, so people tend to commoditize us. And to some extent, you can’t blame them.”

appraisal. If they don’t, it can create a real calamity. Usually the seller has to lower his price. If he doesn’t, the only way to sell his house is to list it for cash.”

Because it can take up to 45 days for a buyer to obtain a loan commitment, the Florida agent checks in weekly with the buyer’s agent and reports back on a weekly basis to his seller. He also advises HOW TO SPELL his clients not to pay for title work until the ‘RELIEF’ buyer is assured he has financing. “Why spend Tell the money when the buyer doesn’t have a mortsellers to gage?” he says. accept the Speaking of advice, Neubauer won’t take appraised on a client unless the client agrees to listen to value or what he suggests. For example, he will only list the home for take a listing that is correctly priced. “No more cash, and overpriced turkeys,” he says. “You can hope to not to find an uninformed buyer, but that’s unrealistic. pay for It’s pointless to invest in marketing, advertising, title work open houses and all your time if the place isn’t until the buyer has priced right.” secured As every agent knows, the real estate transfinancaction is fraught with land mines that can blow ing. Only up with the slightest misstep. These are just a take on a few of them, but the way CRSs handle them can listing if the seller sometimes be novel. agrees to price it Lew Sichelman is a nationally syndicated housing columnist based correctly. in Washington, D.C. Managing pain points takes experience and education, and a little help from your fellow CRSs. There’s no better place to get it than Sell-a-bration® 2018. Sign up today at CRS.com/sell-a-bration!

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Sellers seek listing agents who present benefits rather than features or brag books.

Spotlight Your Added Benefits July Aug

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Research: Collect data about the seller, their motivation to sell and comparable properties.

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Videos: Use a professional

videographer to create a unique virtual walking tour of the property.

perfect

practice

[feature]

By Donna Shryer



With the current nationwide dip in properties for sale, competition for listings is fierce. Maybe it’s time to recalibrate your listing presentation.

Or as Karen Hall, CRS, principal broker, @home real estate in the Washington, D.C., metro area put it bluntly: “Stop doing listing presentations!”

“A ‘presentation’ is about you presenting you,” she says.

“Sellers want to know how I can help them. So when I meet a seller for the first time, we have a marketing consultation— a two-way conversation. They talk about concerns and I talk about my services that address those concerns.”

In other words, today’s seller wants to know What’s In It For Me—or WIIFM. That means delivering a benefits-driven presentation—rather than listing features.

If the benefit vs. feature contrast is fuzzy, here’s an example: Feature: You provide agent feedback reports.

Benefit: You provide sellers with agent feedback reports that contain clearly stated assessment/impressions of the home and specific recommendations.

Brochures: Create photo-filled marketing brochures, including before-staging snapshots.

Optimize listings: Make

listings that are compatible with all devices, including mobile devices.

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perfect practice

WIIFM?

TODAY’S SELLER WANTS TO KNOW WHAT’S IN IT FOR ME— OR WIIFM. THAT MEANS A BENEFITSDRIVEN PRESENTATION FORMAT RATHER THAN FEATURES.

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A Prelude to Hello

Before meeting a potential listing client, there’s research to be done— from collecting honed data to hints about the seller’s personality type and motivation to sell. Here’s how to use research from a WIIFM perspective.

Show You Know: Miguel Avila, CRS, a REALTOR® with Long & Foster Real Estate in McLean, Virginia, kicks off the initial in-person meeting with two well-researched, data-rich yet concise one-page documents. His Market Absorption Rate illustrates how quickly properties are closing in the seller’s market. His Market Velocity Rate looks at the previous month and how many comparable properties in the seller’s market closed, went under contract or are still for sale. MLS data feeds both reports.

Every REALTOR® weaves data into a listing presentation. Avila, however, reviews data from the listing client’s perspective, so they can tap into realistic pricing trends, fact-based closing expectations and seasonal influencers.

Anticipating a Game Plan: Emailing a pre-consultation survey, which asks the seller to describe their home, their motivation to move, how much they owe and other general questions helps prioritize her presentation, explains Kim Cameron, CRS, broker agent with Better Homes & Gardens Real Estate Preferred Properties, St. Louis metro area. “My presentations all include the exact same information, but the seller’s survey answers suggest what I need to focus on.”

Sellers may never be aware of this benefit, but they’ll “feel” it as you move forward with a presentation that piques their interest and hits their hot topics.

Pre-testing the Waters: While every REALTOR® has a guide to help sellers prepare their home for showings, Cameron takes an unusual turn by emailing potential clients her 89-point guide prior to the first meeting. “Before I even arrive, the seller knows they have to have some skin in the game. I think that sends a message that we’re building a team—something too many listing agents don’t do.”

Rewriting History: Pre-presentation research for Hall includes looking into the history of the seller’s home. “We want to see if or when this property was last on the market,” Hall explains. “If the homeowner tried but couldn’t sell the property two years ago, what was the problem? Was the marketing effort weak? If so, then this may be a sore spot with the seller, and during our first consultation, I need to spend extra time explaining the benefits of my marketing strategy.”

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The Main Event

When you first cross the threshold into a seller’s home, it’s time to put away your “brag book,” pack up your ego and forgo your list of features. Instead, consider these ideas to demonstrate your value as benefits rather than features.

Go with the Flow: Hall arrives to first-time consultations with the same one-page, printed list of bullet points about her marketing strategy. “As sellers take me on a tour of their home, they give me clues as to where my help is most needed. So, during the tour I’m mentally adjusting how I’ll review my marketing strategy.”

If there’s serious de-cluttering to be done, Hall dives into the bullet point about hiring a staging expert— before shooting marketing photos.

“When I bring up open houses, the seller’s body language tells me if they hate or love them,” Hall says. “If they hate them, I need to

PAPERLESS PRESENTATIONS

If you’re looking for a deliberate listing presentation with a dash of flash, check out these three software programs.

PowToon (powtoon.com) Predesigned slides let you create animated videos and presentations, which might help liven up data-heavy discussions. PowToon creations, available as free and for-a-fee versions, can be saved to YouTube, SlideShare, Vimeo, Adobe or PowerPoint. Yes, it’s different and a little out there, but worth a look.

perfect practice

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Close with an Open Door

emphasize other tools we can use to sell their home.”

See the Home from the Seller’s Eyes—and Heart: “When we begin the home tour, most sellers say, ‘It’s just a house like all the others on the block.’ But as you walk through the rooms, they open up,” Hall says. “They’ll tell me how the sun accents the kitchen wall as they pour their morning coffee.”

Hall encourages sellers to share these “romantic” observations. A benefit of listing with her is that she uses personal stories in her marketing efforts to paint a vivid portrait of the home—so buyers can picture themselves living there. “I even put these stories in the 400-character MLS remarks section—instead of repeating what’s in the listing information.”

Narrow the Spotlight: Spreading all your marketing materials, testimonials,

comparable sales, data spreadsheets, company services, company profile and personal bio on the kitchen table may make the seller more “snow blind” than intrigued. The solution is to spotlight what you do better than any other real estate agency around.

That’s the benefit of listing with you. ÄÄGary Neubauer, CRS, broker associate, Coldwell Bankers REALTORS® in Fort Myers, Florida, shares videos he produced. “We have a professional videographer and I narrate each video. The result is a unique virtual walking tour of the property,” he says. ÄÄIf photo-filled marketing brochures are your forte, key into these. Before-staging snapshots add to your value. ÄÄDo you optimize listings for mobile devices? Open all your devices to the same property listing. Many listers today highly value a partner who’s tech-savvy.

Prezi (prezi.com) The program allows you to present in multiple locations on multiple devices simultaneously.

Everyone can follow along with their own tablet, smartphone or desktop, whether sitting sideby-side in the seller’s living room or in separate states. This clean, modern presentation comes free or as a feature-rich version for a monthly fee.

Realtor.com Listing Presentation Tool (marketing.realtor.com/listing-presentation.php) This free option delivers a polished PowerPoint listing presentation featuring customizable slides and current NAR statistics. The presentation can be viewed on a laptop or tablet, or printed as a document.

A big WIIFM factor is promising consistent, informed, reliable communication. After you plant the “For Sale” sign in the seller’s front yard, you won’t disappear. Here are some ways to drive home this point.

“Often, sellers tell me that they hardly saw their REALTOR® after signing the listing contract,” Neubauer says. That tells him listing clients want a firm assurance that he’ll be back.

“Sellers call after every showing for the reaction to their property,” Neubauer says. So part of his listing presentation includes a discussion about Showing Time, a service he employs to coordinate showings with the listing client, and to send automatic emails to every showing agent for feedback. The listing client gets a copy of the feedback report, which keeps communication lines open and current.

Avila uses Showing Time and SentriLock, a lockbox service that records when every agent shows the home. He follows up by email with the listing client, requesting agent feedback.

Neubauer promises a personal phone call— not a text or email—with the seller every week.

“Feedback reports are great, but we may need to discuss what the feedback tells us. I make sure the client knows I’m here for those discussions.”

Outside of technology’s impact on the listing presentation, today’s listing presentations are much the same as yesteryear’s. What’s different is that listing clients no longer want to review the bits and pieces that prove you’re No. 1.

That’s not information that directly benefits them. And since you were likely referred by a trusted friend, the seller already knows your stellar reputation. For that reason, Cameron hasn’t reinvented the wheel by doing anything extraordinarily different than other REALTORS®. “What I changed is how I present information and convey my value. That’s what distinguishes me from any other agent.”

Donna Shryer is a freelance writer based in Chicago.

CRS offers materials, including PowerPoint presentations, infographics and other downloadables, to help with your listing meetings during CRS Week, Sept. 11–15. To find them, go to CRS.com/events/crs-week.

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ing your

RAL MPASS

By David Tobenkin

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How to handle pocket listings ethically, how to handle multi-offer situations in a hot market and how to avoid getting in hot water on social media are all among the frontburner ethics issues that have come to the fore in recent years. But real estate professionals and REALTOR® ethics experts say it’s possible to successfully navigate them—and it does set you apart from your competition.

Rules of the Road

There is, of course, a national ethics benchmark: the National Association of REALTORS’® 104-year-old Code of Ethics available at nar.realtor/code-of-ethics.

“To maintain ethical compliance, members first and foremost should read the code and

Being an ethical real estate agent can be challenging at times, but CRSs say it’s worth the effort.

complete their required ethics training,” says Kate Lawton, director of professional standards and financial administration at the National Association of REALTORS®. The Code of Ethics and Arbitration Manual lays out the procedures that local associations of REALTORS® follow to enforce the code.

REALTORS® are now required to complete no less than 2.5 hours of ethics training within two-year cycles, with the most recent cycle beginning Jan. 1, 2017. That rule doubles the requirement in effect prior to this year, which required 2.5 hours of training every four years.

Doing the Right Thing Really Is Worth It

There are a variety of ethical dilemmas that CRSs routinely encounter—here are five examples, along with tips for maneuvering through them and some lessons learned.

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KNOW THE CODE The Code of Ethics and Arbitration Manual lays out the procedures that local associations of REALTORS ® follow to enforce the Code of Ethics, and the manual helpfully has 150 case interpretations that can help professionals apply the Code of Ethics.

REALTOR® Magazine also has frequent articles on ethics that can be searched by topic online.

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1 The Hidden Cost of Ethical Behavior

Being ethical cost Judie Seitz $20,000 in one transaction alone, says Seitz, CRS, a Cincinnati, Ohio-based agent at Comey & Shepherd REALTORS®. Seitz says her ethical compass was put to the test when she listed the former Cincinnati Bengals head coach’s house in the MLS more than 12 years ago. “Prior to the open house, I received a call from a doctor in the area,” Seitz says. “He said he had been working with an agent for a year and a half trying to find a home. He said he knew the house and wanted to buy it, and that if I would show it to him ahead of the open house, he would buy it through me and bypass his agent.”

“The added 3 percent commission for the sale would have been more than $20,000, which, given financial challenges

I had at the time, would have helped me quite a bit,” Seitz says. “However, in my heart, I knew that I had vowed to myself to lead my life and business based on ethics, not just the rules. Many times the rules do not go deep enough. I told him that no one would see it before the Sunday open house. Well, he came to the open house with his agent right at the start time, and he purchased the house. While I missed out on the additional $20,000, I felt good that I had stuck to my ethical standards.”

Moral

It’s not all about the money. Your own moral and ethical standards are on the line, and learning how much they’re worth offers value in itself.

2 Electronic Transparency

Some say the ease with which documents pass back and forth electronically is leading to insufficient attention to ethical obligations. “My clients, a young Coast Guard family [first-time buyers], had electronically signed a buyer representation agreement buried beneath counter-offer documents,” says John Berger, CRS, a RE/MAX Allegiance agent in Chesapeake, Virginia. “The NAR Code of Ethics requires that when sending anyone documents to sign electronically, REALTORS® shall make reasonable efforts to explain the nature of the agreement and disclose the specific terms being agreed to by the contracting party. According to these buyers, this did not happen.”

Moral

Ensure that electronic documents, the material information they contain and their significance are clearly explained to buyers and sellers.

3 Social Standards

Lawton says a hot ethics issue is complying with Article 12 of the Code of Ethics’ requirement that REALTORS® present true pictures in their advertising, marketing and other representations, which she says is becoming more challenging in an age of proliferating social media. “Some members don’t understand that Article 12 applies to communications on social media,” Lawton says.

Moral

Carefully scrutinize social media discussions of properties and professional representations so even passing (often flowery) remarks on informal sites comply with Article 12, and consider confining all such discussions to a designated professional page so they can be policed for ethical compliance.

TRANSACTIONAL MEDIATION One challenge to improving ethics in the industry is the reticence of many real estate agents and consumers to file complaints with their local or state REALTOR® associations regarding unethical conduct.

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In response, the National Association of REALTORS® required that ombudsman services be offered to their members and consumers, either directly or through an agreement with other associations of

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REALTORS®, as of Jan. 1, 2016, notes Diane Disbrow, CRS, 2017 National Association of REALTORS® Law and Policy Liaison and broker-owner of Bay Shore Realty Inc., in Tuckerton, New Jersey.

“The Ombudsman Program is informal telephone mediation,” Disbrow says. “The ombudsman can also solve consumer and inter-REALTOR® conflicts before they become serious

problems. Some complaints do not allege violation of the NAR Code of Ethics, and many times they are transactional, technical and procedural questions that can be addressed by

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KNOW THE CODE Buyer agents also need to work in their buyers’ best interests, and when we disclose that there is already an offer in existence, the buyer should be the one deciding whether to view the property and to possibly compete with other offers on the table. It should never be the agent’s choice.

4 Code of Many Colors Having a game plan for situations that could be ethically challenging, such as handling multiple offers when the listing agent also wishes to represent a potential buyer, can help maintain ethical standards, says Craig McKenzie, CRS, a managing broker at Keller Williams Whidbey Realty in Oak Harbor, Washington. “When I am the listing agent in that situation, I make every effort to allow all potential buyers to have a fair chance at the transaction,” he says.

“To keep it above board, I bring my managing broker into the equation, and he represents the seller in evaluating all written offers, and I represent my buyer. Once the preferred offer is picked by the seller, I step back in to represent the seller.”

Best practices in such situations also involve appropriate communications with the sellers, notes Diane Disbrow, CRS, 2017 National Association of REALTORS® Law and Policy Liaison and broker-owner of Bay Shore Realty Inc. in Tuckerton, New Jersey. “My company has an addendum to our listing agreement [describing multiple offer situations], and we discuss various negotiating strategies, options and alternatives for them to consider,” Disbrow says.

Moral

Ensuring ethical conduct in multipleoffer situations, especially knowing you may represent seller and buyer, may take advanced planning.

communication. Like a mediator, an ombudsman helps parties find solutions that everyone can be happy with.”

Doreen Roberts, CRS, a broker at Fremo, Californiabased MasterKey Real

Estate and an ombudsman for the Bay East Association of REALTORS® and the California Association of REALTORS®, says that more than 600 ombudsman action requests are filed per year

5 A Pocketful of Problems One of the hottest ethical conundrums facing real estate professionals, pocket or “coming soon” listings, may have no clear ethical answer—yet. A recent article in The Residential Specialist on the subject—Pocket Listings—noted that opinion of CRSs was split on the ethics of “coming soon” sales made before properties are posted on the MLS. “Is there really a need for the ‘coming soon’ strategy?” asks Kay Hunt, CRS, a managing broker at Imagine Homes Realty, LLC. “Are we acting in the best interest of our clients at all times?

Article 1 of the REALTOR® Code of

Ethics ‘to promote and protect the interests of the client’ and Article 3’s duty to ‘cooperate with other brokers except when cooperation is not in the client’s best interest’ make the ‘pocket listing’ strategy a slippery slope. Although not illegal or unethical by itself, we need to ensure we are not compromising the legal and ethical duties we owe our clients.”

Moral

Pocket sales are a defining ethical issue of the day, involving some clear ethical challenges that warrant developing a coherent ethics strategy.

Ethical conduct as a real estate professional is not incompatible with financial success, and it can yield a richer, more rewarding practice over the longer term, real estate professionals say. But it will take knowledge, patience, effort and resolve to not be the weak link in the ethics chain, and instead be the responsible actor who mainRemember, tains or improves the standards of all parties you can also involved in sales transactions and the profession file complaints against agents as a whole. illegally using the CRS Designation by going to CRS.com.

David Tobenkin is a freelance writer based in the greater Washington, D.C., area.

at the state level. Among the most common referrals are unethical behaviors by listing agents with interested buyers, Roberts says: “Many agents are hoping to write their own offer and often seek

to thwart other offers by not responding. Then we get calls after the fact from agents or buyers saying, ‘Our offers were higher than what was published.’ We remind listing agents that under Article One

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of the [National Association of REALTORS® Code of Ethics], they have a fiduciary relationship to their clients to put their clients’ best interests first, including talking to any potential agents with buyers.”

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LING IN THE LEADS? Not every online lead is going to pan out, but if you adhere to a consistent follow-up strategy, you can create connections that will pay off.

Facebook ads, among others.

However, it’s the rare CRS who will say online leads are their only concentration— In 2016, for the first time, U.S. consumor the majority of their actual business ers made more purchases online than in transactions—and that includes Miller. stores. Online shopping is now the norm, and The conversion rate is typically higher for many people—particularly first-time homebuypast clients and client referrals than it is for ers—now start the home-buying and REALTOR® online leads. selection process online.

“For anyone who is established, past clients Understanding this, Sam Miller, CRS, with should still be the primary focus,” Miller says.

RE/MAX Stars Realty in Mount Vernon, “If you did a good job the first time, that busiOhio, has 15 different home search sites with ness is easier to nurture. But if you just focus URLs like BuyInKnoxCountyOhio.com and on past clients and not on the online leads, it KnoxCountyOhioHomes.com. can be more difficult to grow your business.”

“Unless the consumers look closely, they don’t even know it’s my site,” Miller says. “They Best Online Lead Sources think they have access to Zillow or the MLS. It There are now many ways to generate online integrates their data through my database, gets leads. Real estate agents can create their own them the automated listing and then we have lead generation websites, like Miller, or use the ability to follow up with them.” one of the many services, like CRS’s Qualified Miller estimates that at any given time, Consumer Leads, BoomTown, Zillow Premier about 70 percent of the leads he and his team Agent and many more. And, of course, agents are working come from these lead-generation can create their own targeted ads on Google, sites, in addition to Realtor.com, Trulia and Facebook and other social media sites.

By Gayle Bennett

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BY THE NUMBER S Starting a home search online doesn’t mean that millennials won’t eventually connect with an agent.

92

%

of millennials use an agent to buy a home and 90 percent use one to sell.

Source: National Association of Realtors® 2017 Home Buyer and Seller Generational Trends

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BY THE NUMBER S Across all generations,

87

%

of buyers use an online resource at some point in their home search.

Source: 2016 Zillow Group Report on Consumer Housing Trends

Rob Levy, CRS, with Keller Williams Realty Professionals in Portland, Oregon, relies mainly on Google and Facebook ads. He says that Google ads have become much more expensive over the last few years, up to about $50 per click, but Facebook ads are more affordable.

He recently spent $20 on a Facebook ad for a $950,000 riverfront condo.

“I put the picture of the view on a Facebook ad and said, ‘Coming soon, this view from a condo two minutes from downtown Portland on the Willamette River. Contact me for more information,’” Levy says, noting that the client signed the appropriate paperwork allowing him to pre-market the home. He’s now showing condos to someone who called him in response to that ad. Generally, on his Facebook ads, Levy always includes a home search link for similar properties, resulting in several leads.

Lead generation platforms not only push leads to you, but also automate much of the outreach. But Char MacCallum, CRS, with Char MacCallum Real Estate Group in Olathe, Kansas, learned that not all companies are created equal.

In an effort to lower her marketing costs, she switched to a new service and promptly saw her leads drop dramatically.

“When you go to these new companies, if they aren’t seasoned, their URLs aren’t identified through Google as a reliable source,” MacCallum explains. “So a lot of my emails were going to spam.” She went back to her previous company.

“ It s a numbers game. They say that 2 percent of online leads will actually do something. I believe that number is higher. The average agent only has success with 2 percent of the leads because they don t stay in touch with them.”

—Sam Miller, CRS

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Follow-up and Conversion Strategies

Whether online leads are a big or small portion of your business, keep in mind these four tips to increase your chances of converting them. ➊ Respond quickly and personally, at least initially.

The biggest key to online lead conversion is fast follow-up.

“You’ve got to be able to respond to them very quickly,” Miller says. “If it takes you two hours to respond to an online lead, they don’t even remember filling out the form.”

MacCallum has set a five- to six-minute time limit for her team members to respond to the online leads that get routed to them.

Automated drip campaigns can help agents stay on top of responding to online leads, both initially and on an ongoing basis. But, when possible, MacCallum and others like to add something personal, particularly in the initial drip, to show that a real human being is involved in the response.

“I can see from the backend what kinds of houses they were clicking on,” says Alyce Dailey, CRS, with The Dailey Group in Baltimore. “So I just add a sentence to a drip such as, ‘That house at 123 Main has a really great pool. Let me know if you are interested in talking more about it.’ So then they know it’s a live person who sent that message.”

technological superiority

➋ Don’t give the hard sell.

While quick follow-up is key, keeping things casual is also critical. Many of these potential buyers and sellers are just doing their homework and a hard sell will turn them off.

Levy focuses on education. “I have a series of drip emails that will start going to them talking about everything from home inspections to here’s what you need to fill out when you buy a house to how to check that the roof is OK,” he says. Levy also sends a PDF with samples of all the forms buyers will need when they are ready to put in an offer.

Miller provides all of his online leads with weekly market updates. “The key is providing them with something of value, not pestering the heck out of them.” ➌ Set yourself apart.

Your online leads are probably also your competitors’ online leads, so you need to set yourself apart. Dailey likes to send a text message that includes a video of her introducing herself.

“People will read and listen to text messages,” Dailey says. “With email, prospective clients are quick to delete messages, but we know they have their phone in their hand. With video text messages, they can hear my voice and see my face. They can see that I come across as someone who is genuine, friendly and kind, and they are more likely to respond.”

And if you aren’t texting online leads yet, you need to consider it. According to a recent study by OpenMarket, people ages 18–34 say they prefer to hear from and communicate with businesses via text. ➍ Be patient.

Online leads, like other cold leads, take a lot of follow-up. MacCallum estimates that it takes from five to eight contacts before an online lead will enter into a dialogue with her.

Miller has found that the incubation period on good online leads can be anywhere from five months to two years, particularly if they are just starting the home-buying process.

“It’s a numbers game,” Miller says. “They say that 2 percent of online leads will actually do something. I believe that number is higher. The average agent only has success with 2 percent of the leads because they don’t stay in touch with them.”

Millennials now make up the largest portion of the home-buying population, and they have

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HEAT UP A COLD LEAD

Alyce Dailey, CRS, with The Dailey Group in Baltimore, sees online lead conversion as a game with the following challenge: “How quickly can I cut through and find how we are connected?” she says.

She considers Baltimore a big small town where everybody knows everybody.

So when she gets the email of an online lead, she tries to find that person on social media. She uses the Gmail plugin Xobni (“inbox” spelled backwards), which finds the social media accounts associated with an email address.

“I can see if we have mutual friends, which wouldn’t be unheard of in Baltimore,” Dailey says. “Can I figure out what they do? Where they work? How quickly can I turn this cold lead into a warm lead?”

In addition, in her initial outreach, she lets online leads know that her team offers free buyer consultations to people looking to buy in the next 24 months.

“They realize that you aren’t in for the kill when you use words like ‘complimentary,’ ‘free consultation,’ ‘no obligation,’” she says. “I let them know that I’m not going to have paperwork for them to sign. That takes the pressure off.”

If she gets that meeting, that lead is no longer cold.

“The conversion rate for cold leads is low, so I’m trying to make it as warm as possible,” Dailey says. “Because if I’m able to make it warm, my close rate is really high.”

put their full faith in the internet. However, that doesn’t mean trying to convert online leads should take away from nurturing your sphere of influence.

“Don’t make [online leads] your only source of business,” Levy advises. “At the end of the day, nothing has changed. Most of your money is going to come from your past clients; this is just a way to supplement it.”

Lead generation platforms are now a standard marketing expenditure for many CRSs. Nobody will convert every online lead, but with a consistent follow-up strategy in place— and a long view—some of these leads will become lifelong clients.

Want more ways to market yourself online?

CRS Week, Sept. 11–15, offers video, social media and email marketing webinars for free.

Gayle Bennett is a writer and editor based in Washington, D.C.

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resources for learning & leisure

GOOD READS

TAKE YOUR LIFE FOR A

test drive Not sure of your life’s passion? Congrats: You’re on the road to prototyping some potential lives and trying them on for fit.

By Allan Fallow

Ø

Intentionality.

Couldn’t we all DESIGNING use a bit more of that YOUR LIFE in our lives? Rather How to Build a Wellthan being at the Lived, Joyful Life mercy of unpredictby Bill Burnett and able events, we could Dave Evans navigate life as a Alfred A. Knopf sequence of deliber238 pages, $24.95 ate choices.

That’s the lofty promise held out by professors Bill Burnett and Dave Evans, cofounders of Stanford’s Life Design Lab. The courses they teach sound abstract—“helping any student to apply the innovation principles of design thinking to the wicked problem of designing

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your life”—only until you learn that both men had earlier mainstream business careers: Burnett led Apple’s PowerBook product line, while Evans was a cofounder of Electronic Arts.

Most of us wander into our life’s work haphazardly, and the authors want to fix that. In research conducted for the Stanford Center on Adolescence, for example, William Damon found that only 1 in 5 young people ages 13 to 25 have a clear idea of what they want to accomplish in life. Matters haven’t clarified much by the time college days draw to a close, with only 27 percent of graduates landing in a career related to their major. As you might expect, the disconnect is not a formula for workplace bliss: Two-thirds of American workers are unhappy with their jobs, and 15 percent of them downright detest their work.

But there’s got to be a better way, right?

That’s where Burnett and Evans come in, urging us to “brainstorm, try crazy stuff, improvise and keep ‘building your way forward’ until

you come up with something that works. You know it when you see it.”

Purposeful Path

Sounds good, Coach—but where do we begin? Why not “start where you are,” the authors counsel us. To help you take stock of your current situation in life, they suggest drawing up a Health/Work/Play/Love dashboard. That notion struck me as voguishly buzzwordy, but hold on—the authors have some good, commonsense counsel about crafting a more purposeful path through life: 1. Make sure you’re working on the right problem.

2. If something is not actionable, it’s not a problem. Instead, it’s a law of physics or a fact of life, like gravity or reality; neither one can be outsmarted or overcome.

3. Though no one can predict the future, once you start designing something, it changes the future that is possible for you.

The authors’ no-spin approach makes it clear they’re accustomed to addressing an audience—college

students—with advanced bullcrap-detection capabilities: Let’s face it, you’re not reading this book because you have all the answers, are in your dream job, and have a life imbued with more meaning and purpose than you can imagine. Somewhere, in some area of your life, you are stuck.

You have a wicked problem.

And that’s a wonderful and exciting place to start.

You may resist writing the personal manifestos that Burnett and Evans call a Lifeview Reflection and a Workview Reflection, but I was taken by their idea of keeping a Good Time Journal. The idea here is to “catch yourself in the act” of having a good time—that is, identifying the activities in a day or week that consistently engage you. Once you discover a couple of undertakings that hook your attention or immerse you in a “flow” experience, you have your first bit of traction—and apparently that’s cause for celebration in the world of designers, whose “bias to action” makes them eager to prototype additional activities that can “maximize your vitality.”

(Your enjoyment of Designing Your Life will be enhanced if you speak a little Californian.)

That’s a rare bit of woo-woo in an otherwise action-oriented book.

The authors do an especially good job of selling us on the idea of prototyping—“trying things out first without committing [ourselves] to them prematurely.” A prototype can be as simple as a Life Design Interview, where you gently interrogate someone who is doing the very thing you are contemplating. Or you can prototype something more elaborate: ÄÄSpend a day shadowing one of the professionals you’d like to be (to make this prospect more

enticing, present it as “Take a Friend to Work Day”); ÄÄLaunch a one-week—and, yes, unpaid—exploratory project; or ÄTalk Ä an organization into letting you take a stab at a longer internship.

YO U M I G H T A L S O L I K E …

NATURALLY NOURISHED

by Sarah Britton [Clarkson Potter] 240 pages $ 17.78/hardcover

Constructing a Life

Designing Your Life is all about building as you go, reframing dysfunctional beliefs, forming a small mutual-support team, cultivating mentors and understanding the power of face-to-face conversations—topics with which REALTORS® have more than a passing familiarity. And if a sudden job loss has brought you to these pages (as it has me), don’t miss Chapter 7 (“How Not to Get a Job”) or 8 (“Designing Your Dream Job”), which tackle the hidden job market, phantom job postings and the low yield of online job searches: “In the United States, only 20 percent of all the jobs available are posted on the internet—or posted anywhere, for that matter.” (And don’t despair, Burnett and Evans lay out more productive alternatives to those old approaches.)

Expect the life-design process to be both iterative—you’ll want to capitalize on each new insight generated by a failed prototype—and disruptive. After all, the authors point out, “Unlearning things is often harder and more important than learning things.” But shaking things up is never a bad idea—and it’s not like changing your approach is going to overhaul your personality. Rather, Burnett and Evans anticipate their process will “make you more like you. This is what good design always does: It releases the best of what was already there, waiting to be found and revealed.”

A beautiful collection of 100 vegetarian recipes that will simplify weeknight cooking.

OPTION B

by Sheryl Sandberg and Adam Grant [Knopf] 240 pages $ 15.57/hardcover New York Times best-selling authors share stories of loss and coming back from devastating setbacks.

THE CUBS WAY

by Tom Verducci [Crown Archetype] 384 pages $ 17.50/hardcover An inside look at how the Chicago Cubs were once again crowned World Champions after 108 years.

PROFIT FIRST

by Mike Michalowicz [Portfolio] 224 pages $ 17.19/hardcover Entrepreneur Mike Michalowicz flips the accounting formula so any business owner can achieve instant profitability.

Allan Fallow is a freelance writer and editor in Alexandria, Virginia.

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resources for learning & leisure

YO U M I G H T A L S O L I K E …

INTERIOR inspiration

STYLED: SECRETS FOR ARRANGING ROOMS, FROM TABLETOPS TO BOOKSHELVES

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The interiors of your home play a big role in your everyday life. Thoughtful interior design not only creates a comfortable space, but it can reflect and facilitate how you want to live. Here are four top blogs that will offer endless sources of inspiration for your next interior design projects.

Apartment Therapy

Apartment Therapy offers excellent inspiration for all homeowners. Look at home tours from around the globe, renovation and DIY projects, and design tips for all tastes in interior decor. It offers a wealth of resources for any interior design project. apartmenttherapy.com

by Emily Henderson

Design Sponge

Design Sponge is one of the best blogs dedicated to interior design. It not only focuses on beautiful interiors from around the world, but also on the people behind them with in-depth interviews. It’s a must read for any design lover.

HGTV Design Star champion Emily Henderson breaks down the steps to think like a designer, find your personal style and transform any space.

designsponge.com

BEAUTIFUL: ALL-AMERICAN DECORATING AND TIMELESS STYLE

by Mark D. Nikes

Design Milk

Domino Magazine

design-milk.com

domino.com

Design Milk is the source for all things related to contemporary design. Browse architecture, interiors, furniture and decor, interviews with top interior designers, trends and products, and home tours— all with a modern perspective.

An extension of the popular magazine, domino.com is an amazing site for anyone with an interest in interior design.

It offers decor inspiration, home tours, DIY projects and how-to’s, room-by-room photo galleries and a shop— all at one site. You’ll easily find something to inspire.

Interior designer Mark D. Sikes shows how fresh, classic American style can be accessible for every home.

HABITAT: THE FIELD GUIDE TO DECORATING

by Lauren Liess

Lauren Liess, founder of the popular blog Pure Style Home, breaks down the elements of design into three parts to help you create your own unique style.

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inside

CRS news from the council

New CRS courses enhance your knowledge and skills.

Ø

The Council of Residential Specialists has always been recognized for its education. Members consistently rank our CRS education as the best in the industry. But we’re not resting on our laurels. This year, CRS is launching

many new courses and expanding eLearning offerings in response to member requests. As the busy season starts to cool, it’s a good idea to start planning your continuing education to improve your knowledge, skills and bottom line.

Check out all of the Council’s new courses and register online at CRS.com/education. And don’t forget, any of these courses apply toward fulfilling the new education maintenance requirement for all CRS designees.

Negotiations: A Four-Part Series eLearning, 2 credits each, 8 credits total Starting in 2016, CRS launched a series on negotiations, consisting of four two-hour eLearning courses. The first course, Foundations of Negotiations, laid the groundwork for the three following courses, which continue to launch this year. By breaking up the series, CRSs can take all four for a full eight credit hours, or jump in on areas where they want to focus.

Negotiations: Understanding People

Negotiations: Win-Win Game Plan

Negotiations: Difficult Situations

ÄRecognize Ä and work with others’ communication styles ÄEnforce Ä the preparation work needed prior to a negotiation ÄDifferentiate Ä positions from interests ÄKnowledge Ä is power ÄPersonalities Ä and analysis ÄDiscovering Ä positions and interests

ÄStrategy Ä ÄTechniques Ä ÄRepairs Ä ÄTrade-offs/alternatives Ä ÄCommon Ä ground and goals ÄContract Ä inspections

ÄTricks Ä and tools ÄCommunication Ä ÄBreaking Ä through barriers ÄObjections Ä ÄContingencies Ä ÄUsing Ä alternatives

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The Council of Residential Specialists

crs.com

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July Aug

inside

CRS news from the council Photography: A Four-Part Series eLearning, 2 credits each, 8 credits total Like the negotiation series, this four-part series on photography launched in 2016 with a foundational course, How Do I Make My Photos Look Like That?

A Photo Sells a Thousand Homes Photos now have a major impact on how homes sell. Buyers view fewer properties as a result of narrowing down the homes they want to see by looking at photos online. Just as every real estate agent should have a marketing plan, they should also have a plan for their photos. An agent must know what photos attract buyers to homes, how to identify the correct photos and how to compose the best photos. In this course, you will learn what photos every home

must have, what photos not to use, how to compose the best shot and, most importantly, how to get more buyers viewing listings as a result of great photos.

Capturing Professional Photos Through Bracketing It can be difficult to get the perfect image with a single shot. Taking several shots of the same subject using different camera settings is a technique called bracketing. In this course, you will learn how the best photos are taken through bracketing.

The course will show you how to use

software to blend images to create the best photos for every listing.

Using Drones in Your Real Estate Business Should you or should you not go out and get a drone? Drones are hot topics, but there is always more than meets the eye. This course will explore the different reasons for adding a drone to your business, as well as different ways to effectively use a drone to promote your listings and ultimately show you a return on your investment in equipment and time.

Listing Strategies: A Four-Part Series eLearning, 2 credits each, 8 credits total The four-part listing strategies series launched in 2016 with the course Pre-Listing Preparation. Each eLearning course is worth two credit hours and can be taken separately or all together.

July Aug

Clinching Your Listing

Pricing Your Listing

Marketing/Selling Your Listing

There are distinct methods for successfully closing sellers that differ from the techniques you may use for closing your buyers.

But what are these differences and how can you employ them to increase the number of properties in your current inventory?

In this course, learners examine best practices for achieving key results by employing best-fit strategies in the listing presentation process, effectively countering seller objections and successfully closing sellers.

Appropriate pricing is a key component of selling your listings. In fact, it is the listing price that generates interest and showings. No amount of marketing will sell an overpriced property. So how do you position the property to compete effectively with other listings and satisfy your sellers’ needs? In this course, you will examine a variety of pricing strategies, competitive market analysis, absorption rates and techniques for collaborating with your seller to achieve effective market positioning and increase sales.

To effectively market a listing, agents want to employ targeted marketing, engage in internet marketing, create an effective listing description and identify top agents in the area to target with an internal marketing campaign.

Marketing, however, is not the only component for professionally servicing a listing and building your personal brand. Communicating, providing feedback and countering seller objections are essential elements of your marketing and sales processes.

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The Residential Specialist trsmag.com

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Top-of-Mind Techniques to Boost Your Brand

For Sale by Owners (FSBOs)

How Technology Can Ruin Your Real Estate Business

One-day classroom course, eight credits

eLearning, 2 credits

One-day classroom course, eight credits

In this one-day classroom course worth eight credits, attendees will learn to apply advanced techniques for remaining top of mind with their spheres of influence. Through a series of engaging discussions and activities, you will explore the effective use of social media, neighborhood farming and other marketing strategies to distinguish yourself as the trusted advisor for existing and prospective clients. You will leave with an action plan that you can confidently implement to enhance and maintain your brand to generate a continuous stream of repeat and referral business.

FSBOs are a fantastic source of listings! In any good seller’s market, many consumers contemplate the possibility of selling on their own. When agents make it look easy, then it looks, well, easy. The draw of selling on your own unleashes a different kind of potential seller. This course explores a proven method for approaching, helping (yes, we said helping) and ultimately converting the FSBO prospect. With many markets in full-on seller mode and those FSBO signs popping up all over, now is the time to sharpen your FSBO skills.

We live in a world in which the internet, cloud-based tools, social media, messaging/ communication platforms and other technologies enhance our productivity and efficiency.

However, if used without the proper safeguards in place, these can put you and/or your company and the consumers you serve in a vulnerable position. In the current world of viruses, malware, social engineering, identity theft and more (all of which are growing at alarming rates), this is especially concerning when combined with the fact that in many cases you are collecting and storing your clients’ sensitive personally identifiable information.

IN CASE YOU MISSED IT…

The following eLearning courses, worth two credits each, have already launched in 2017. Check them out at CRS.com/education/courses/on-demand.

Make More More Sales.

Sales. Generate Generate More Leads.

Make MoreS Make More Leads.

Make More Make Make More Sales.

Generate More Leads.

MakeMore MoreSales.

Sales.Generate GenerateMore MoreLeads.

Leads. Make Make More Sales.

Generate More Leads.

Make More Sales.

Generate More Leads.

Make More Sales.

Generate More Leads Make More Sales.

Generate More Leads.

Your Make You Make More Sales.

Generate More Leads Make More Sales.

Generate More Leads.

Make Your Make You Make Your Building a Referral-Based Real Estate Business eLearning, 2 credits

Referrals are a major source of business for real estate Make Your agents. Working by referral and repeat business is a lot easier than trying to drum up new leads. A whole new comDirect Mail ponent has been added to the referral arena in the form of Direct Mail online reviews. Fortunately, there are strategies and techniques youEffective! can develop to help you master this crucial facet More More Effective! of your business. Learn how to lay the groundwork for gain-

ingFor: both traditional referrals and effective online reviews.

Use Use For:  FSBOs FSBOs Running  Newsletters Newsletters

Your Business in the Cloud

eLearning, 2 credits  Mortgage MortgageLates Lates  Expired Listings Agents Expired Listings are constantly on the go and they require tech-

 nologies to keep their businesses running smoothly and Absentee AbsenteeOwners Owners  Customer Mailings efficiently in this highly mobile career. Boost your productiv Customer Mailings

ity and profitability  House Invitations Open Open House Invitations by learning how to stream your business using cloud services with the help of subject matter experts  Short ShortSale Sale&&Pre-Foreclosures Pre-Foreclosures Seth Dailey, CRS, and John Morley, CRS. Learn the steps to

 Probate/Inherited Probate/InheritedProperties Properties start implementing cloud computing into your daily routine.  Sending Follow-up  Sending Follow-upLiterature Literature

Discover the freedom to go anywhere and have your data  Owners Free Free&&Clear/Equity Clear/Equity Owners instantly available from any device.

Perfect Perfectfor forAgents, Agents,Brokers Brokersand andInvestors!

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Make Your Make Your Make Your Make Your Make Your Direct Mail Make Your Make Your Direct Mail Direct Mail Direct Mail Direct Mail Direct Mail Direct Mail More Effective!

Direct Mail Direct Mail More Effective!

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Use For: More Effective!

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Use For: UseFor: For: Use

 FSBOs Use For: UseUse For:For:  FSBOs Newsletters  FSBOs For: FSBOs Use For: Use  FSBOs  FSBOs FSBOs  Newsletters Mortgage Lates Newsletters  Newsletters  FSBOs  FSBOs  Newsletters  Newsletters  Listings Newsletters  LatesLates Mortgage Expired  Mortgage Mortgage Lates  Newsletters   Mortgage  Newsletters Mortgage Lates  Mortgage LatesLates  Expired Listings  Absentee Owners  Expired Listings  Expired Listings Lates  Mortgage  Mortgage Lates  Expired Listings  Expired  Listings Expired Listings  Absentee Owners  Customer Mailings  Absentee Owners Absentee Owners  Expired Listings  Listings  Absentee Owners  Expired Absentee Owners  Absentee Owners  Customer Mailings  Open House Invitations  Customer Mailings  Absentee Owners  Customer Mailings  Absentee Owners  Customer Mailings  Customer Mailings Mailings  Customer  Short Sale & Pre-Foreclosures  Open House Invitations  Open House Invitations  Customer Mailings  Customer Mailings  Open House Invitations  Open House Invitations  Open  House Invitations Open House Invitations  Probate/Inherited Properties  Short Sale &Sale Pre-Foreclosures  Short & Pre-Foreclosures  Open House Invitations  Open House Invitations Short Sale & Pre-Foreclosures  Short Sale & Pre-Foreclosures  Short  Sale & Pre-Foreclosures Short Sale &Literature Pre-Foreclosures  Sending Follow-up  Probate/Inherited Properties  Probate/Inherited Properties  Short Sale & Pre-Foreclosures  & Pre-Foreclosures Sale Probate/Inherited Properties  Probate/Inherited Properties  Short Probate/Inherited Properties Probate/Inherited Properties  Free &Sending Clear/Equity Owners  Sending Follow-up Literature  Sending Follow-up Literature  Probate/Inherited Properties  Probate/Inherited Properties Follow-up Literature  Sending Follow-up Literature  Sending Follow-up Literature  Sending Follow-up Literature  & Clear/Equity Owners Perfect for Agents, Brokers and Investors!  Free &Free Clear/Equity Owners  Sending Follow-up Literature  Sending Follow-up Literature &Free Clear/Equity Owners  & Clear/Equity Owners  Free &Free Clear/Equity Owners Free & Clear/Equity Owners Perfect for Agents, Brokers and Investors!

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learn

from the

BEST strategies from the industry’s top educators

BALANCING

act

Convincing sellers to make necessary changes to get their home market-ready.

By Chandra Hall, CRS

 CRS INSTRUCTOR

Chandra Hall, CRS, is a broker/owner of Colorado Mesa Realty in Colorado Springs, a CRS Instructor and an educator. You can find more about her seminars and other resources at SystemsKeepYou Sane.com.

July Aug

40

Talking to potential sellers can sometimes be a delicate dance—you want to win their business, but you also need to make sure you’re being honest and forthright with them about their property and its sales potential.

In many of my seminars and in CRS 201: Listing Strategies, one of the most common issues we encounter is how to talk to clients about getting their homes market-ready. This is a pivotal moment in a listing presentation or marketing proposal.

You don’t want to offend the clients, but you want to give them a realistic picture of the work it will take to get their property top dollar. Here are three of my favorite ways to get that done: 1. Have some ready-to-go scripts in mind. The method I have found most effective in approaching the subject of getting a home market-ready is to ask the sellers during the home tour if I can take notes on things I see that, if addressed, could help maximize their market dollar. They always happily agree and that way they expect my critique. This is a lot different and more effective than offering criticism throughout the tour, which can pile up and feel overwhelmingly negative to sellers, putting them on the defensive.

The Residential Specialist trsmag.com

20 17

2. Talk about the budget upfront. Ask the sellers in your initial conversation what their budget is to get their home ready for the market. Honestly, you may be met with confusion.

Many people think only about the money they’re going to make in a sale, not about the money they’re going to have to spend. This is a good way to set the stage for a conversation about what they need to put into the sale to get the most out of it, plus it gives you a good idea of how committed the sellers are. Their answer will also help guide your suggestions.

3. Break suggestions down in nice to do/need to do. When I present the list of suggested improvements to clients, I break it down into two columns: The items that I think are necessary for the sale and the changes I think would be nice to do. This gives them some flexibility in what they do to get their home market-ready. And honestly, when seeing it written this way, they often end up doing everything on the list anyway—but through this method, they feel more empowered because it’s their decision.

By having a few strategies in place to discuss how sellers can get their homes ready for the market, you can differentiate yourself from your competition and set the stage for a successful and profitable sale.

CRS

connect

YOUR CRS

network

WEST

expand your network

Ø

Kirk Hewitt, CRS, had a client who needed help selling his lakefront condo in the fall of 2013— a tough time for real estate. Hewitt, who is based in Springfield, Missouri, wasn’t able to handle the sale himself since the condo was located at the Lake of the Ozarks, more than an hour-and-a-half out of his service area. So Hewitt interviewed a highly recommended CRS agent in the area and connected his client with the agent, who then listed the condo for six months. But at that time, the market there was still depressed, especially during the winter months, so the condo didn’t sell. The agent didn’t take it personally, though, and wound up passing the client onto yet another CRS agent who was able to finally move the condo as activity heated up in March 2014. “Now that is service the CRS way!” Hewitt says.

CONNECTION PERFECTION

WEST

WEST

WEST

Seattle & the ‘Burb’s Serving Seattle, Bellevue, Kirkland, Redmond, Bothell, Duvall, Lynnwood & Woodinville

Barb Avery

Managing Broker, CRS, GRI, I-Pro, SRES, WCR

RE/MAX Northwest Realtors

888-255-2272 (Call-Barb) 206-226-2879

Craig Zager

SeattleSuburbs@yahoo.com www.SeattleSuburbs.com

Relocation, city-wide to world-wide.

Seniors Specialist/Estate Specialist Voted Best in Client Satisfaction multiple years —Seattle Magazine

WEST

WEST

Selling Lake Tahoe since 1989 Over 700 million in Tahoe sales

Sell Sell phone: phone: 775.901.4663 craig@CraigZager.com

www.LakeTahoeAgent.com

WEST

COLORADO

DEREK MIYANO CCIM, CRS, GRI, ABR, CNE Broker/Owner

Service with a Smile

Joan M. Pratt

MS, CRS, CLHMS, CDPE, CARI

DenverMetroReferrals.com

720-506-3001 RE/MAX Professionals

“Elevate Your Expectations” « « « « « Voted Five Star Agent for Overall Satisfaction for 5 Straight Years!

Dedicated to delivering exceptional service to you and your clients.

702-315-6100

Lori Lane, CRS, Owner (503) 703-7544 lori@lanerealtyworks.com

dmiyano@yahoo.com 4604 W. Sahara Ave. #3 Las Vegas, NV 89102

Serving the Portland Metro Area

w w w. l a n e r e a l t y w o r k s . c o m

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CasaLasVegas.com The Council of Residential Specialists

crs.com

41

July Aug

CRS

connect

CRS CLASSROOM COURSES expand your network

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 for 2017. For more up-to-date listings, visit crs.com.

CRS 103—Mastering Your Time to Achieve Your Goals Aug. 17—Houston [Texas CRS]

CRS 120—Converting Leads Into Closings Aug. 18—Houston [Texas CRS]

Aug. 16—Las Vegas [Barrett & Co., Inc.]

512-791-4240

Instructor: Mark Given, CRS

512-791-4240

Instructor: Monica Neubauer, CRS

Aug. 30—Grand Junction, Colorado [Grand Junction Area REALTOR® Association]

CRS 121—Win-Win Negotiation Techniques Aug. 11—Colorado Springs, Colorado [Pikes Peak Association of REALTORS® & Colorado CRS]

Instructor: Monica Neubauer, CRS

970-243-3322

Instructor: Chandra Hall, CRS

702-252-7100

Sept. 7—Denver [Denver Metro Association of REALTORS®] 303-756-0533

Instructor: Rich Sands, CRS

719-633-7718, ext. 113

Instructor: Chandra Hall, CRS

WEST

WEST

COLORADO

MARK COOPER ABR, CRB, CRS, e-PRO, MRE

MAUI Real Estate

Former Denver Bronco No. 63

303-843-1545

www.come2colorado.com WEST

jofoxxe@gmail.com

971-998-6309

Joanne Foxxe CRS, GRI, SRES e-pro

Email

www.thombutts.com

Maui CRS director

WEST

Broker Associate, CRS, SRES, BPOR, CHS, CCRM, SFR, e-Pro

510-418-3007

deloresdjohnson.com djohnson33@sbcglobal.net “Serving you with an Attitude of Gratitude” BRE # 01351847

20 17

Cell/Text

I specialize in making your home sale or purchase the easiest and most stress-free that I can!

WEST

The Residential Specialist trsmag.com

CRS, ABR, e-Pro Real Estate Broker

thombutts@remax.net

Delores “Dee” Johnson

42

Licensed and Serving the entire Portland OR / Vancouver WA Metro area!

Thom Butts

Your Connection to the Oakland Bay Area Alameda & Contra Costa Counties

July Aug

Clients moving to Portland Oregon?

www.JoanneFoxxe.com

808-385-2918

25+ Years Real Estate Experience

afccoop63@gmail.com

WEST

Reach more than

30,000 CRS peers with your ad here.

Contact Joe Stella: jstella@glcdelivers.com or 847-205-3127

CRS 123—Mastering Relevant, Consumer-Focused Marketing Aug. 9—Baton Rouge, Louisiana [Greater Baton Rouge Association of REALTORS®] 225-761-2000

Instructor: Frank Serio, CRS

WEST

WEST

san francisco Patrick Lowell Broker Associate PatrickLowell.com 415 971 5651

CRS 124—Turning New Homes Into Ongoing Revenue Sept. 5—Jekyll Island, Georgia [Georgia Association of REALTORS®] 678-597-4124

Instructor: Mike Selvaggio, CRS

SOUTH

Lic 01372286

SOUTH

NORTHEAST Your referral source for the greater

Pittsburgh

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: 571-207-7010

lisacromwell@remax.net www.LisaCromwell.com

SOUTH

KENT REDDING BROKER, GRI, CRS, ABR

The Kent Redding Group Berkshire Hathaway Texas Realty

SOUTH

area

I help clients make the Wright move Nancy Wright, ABR, CRS, GRI

RE/MAX Realty Brokers 5608 Wilkins Ave. Pittsburgh, PA 15217 OFS: 412-521-1000 x170 CELL: 412-508-0040 nancywright@remax.net

CANADA

Book now for Spring and Summer

Choose from over 11 CRS classes!

512.306.1001

AUSTINTEXAS Kent@CallKent.com www.CallKent.com

MikeMyCoach.com

4 5590 (302) 58

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The Council of Residential Specialists

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July Aug

CRS

connect

CRS CLASSROOM COURSES

expand your network Sept. 11—Glen Allen, Virginia [Virginia CRS] 804-513-2832

Instructor: Mike Selvaggio, CRS CRS 125—Zero to 60 Home Sales a Year (and Beyond) Aug. 15—Orlando, Florida [Florida CRS] 813-962-1962

Instructor: Frank Serio, CRS CRS 126—7 Things Successful Agents Do Differently: A Proven Business System Aug. 14—Las Vegas [Barrett & Co., Inc.] 702-252-7100

Instructor: Lee Barrett, CRS CRS 127—Succession Planning: Building, Valuing and Selling Your Business Aug. 15—Las Vegas [Barrett & Co., Inc.] 702-252-7100

Instructor: Mark Given, CRS CRS 202—Effective Buyer Sales Strategies July 12 & 13—Morehead City, North Carolina [North Carolina CRS & Carteret County Association of REALTORS®] 252-247-2323

Instructor: Chandra Hall, CRS July 13 & 14—Fairfax, Virginia [Virginia CRS] 804-249-5722

Instructor: Gee Dunsten, CRS Aug. 24 & 25—Prescott, Arizona [Arizona CRS]

CRS 204—Buying and Selling Income Properties Sept. 11 & 12—Tulsa, Oklahoma [Greater Tulsa Association of REALTORS® & Oklahoma CRS] 918-663-7500

Instructor: Chris Bird, CFP Sept. 13 & 14—Jacksonville, Florida [Northeast Florida Association of REALTORS®] 904-394-9494

Instructor: Chris Bird, CFP CRS 210—Building an Exceptional Customer Service Referral Business Aug. 10 & 11—Gray, Tennessee [Northeast TN Association of REALTORS®] 423-477-0040

Instructor: Robert Morris, CRS

The Residential Specialist trsmag.com

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

Sept. 11 & 12—Virginia Beach, Virginia [Virginia CRS]

DISTRIBUTE

702-252-7100

804-249-5722

Instructor: Robert Morris, CRS EC034—6 Deadly Pricing Mistakes Aug. 30—Pittsburgh [Pennsylvania CRS] 412-563-5200

Instructor: Jackie Leavenworth, CRS EC035—Negotiate Like a Pro Aug. 30—Pittsburgh [Pennsylvania CRS] 412-563-5200

Elective Courses Elective courses vary in length and credits earned toward the CRS Designation. Please visit the CRS website for details at crs.com.

44

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.

Instructor: Lee Barrett, CRS

Aug. 17 & 18—Las Vegas [Barrett & Co., Inc.]

Instructor: Ed Hatch, CRS

July Aug

EDIT

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.

Instructor: Jackie Leavenworth, CRS

520-382-8776

PERSONALIZE, REPRODUCE AND MAIL THIS NEWSLETTER TO YOUR CLIENTS

20 17

MAIL. If you photocopy YOUR HOME or use it “as is,” please note that it is designed to be folded in a trifold with the mailing panel facing outward. Postal regulations require that trifolds have two closures (tabs or tape) on top. 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 J U LY/A U G 2 017

Tips and tre nd s for homeow ners, buyers and sellers

MARKED

appreciation

KNOW YOUR COVERAGE



A home generally appreciates in value between 3 and 4 percent each year, but not every home appreciates equally. While every market is different—and appreciation is naturally affected by factors homeowners can’t control— there are certain home features that create greater appreciation than others.

Realtor.com did some research, analyzed millions of listings over the past five years and here’s what they found:

Homes overlooking a park appreciate at 7.9% a year, hold value over a longer period of time and recover quickly from a downturn.

Homes with mountain views appreciate 5.1% a year, while lake homes appreciate 4.9% annually.

4.9 %

5.1 %

4.6 %

4.3%

6.6 % 3.8 %

7.9 %

Modern and contemporary architectural styles appreciate 7.7% a year.

Bungalows and traditional homes appreciate at 6.5% and 5.6%, respectively.

5.6 %

Open floor plans appreciate 7.4% a year—beating out other home features like a patio (6.8%), hardwood floors (5.7%), a fireplace (5.3%) and a finished basement (4.6%).

6.5 %

Two bedrooms appreciate 6.6% while five bedrooms appreciate just 4.3%.

7.7 %

Small homes are in high demand, especially by millennial first-time buyers. Homes smaller than 1,200 square feet appreciated an average of 7.5% a year for the past five years. Larger homes (more than 2,400 square feet) only rose by 3.8%.

5.3 %

Adjacency

5.7 %

Style

6.8 %

Floor plan

7.4 %

Bedrooms

7.5 %

Size

There are many misunderstandings out there about homeowners insurance— misconceptions that can lead to expensive mistakes.

According to a survey by insurance marketplace InsuranceQuotes, homeowners tend to overestimate the amount of flood protection they have. Fifty-six percent of respondents still mistakenly believed that a standard homeowners policy covers flood damage. For millennials ages 18 to 36, the percentage rose to 67 percent.

Meanwhile, more than onethird of respondents thought auto insurance would cover items stolen from their car, but actually homeowners or renters insurance would cover those.

Most homeowners underestimate their coverage for dog bites: Regarding potential lawsuits filed by someone bitten by a policyholder’s dog outside their property, few knew they would be protected by their homeowners policy.

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

IL

*

*

EFER R

A

LS!

ER OV

EQUAL HOUSING

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

Tips and trends for homeowners, buyers and sellers

TROUBLE-FREE move 

An efficient, well-managed move not only saves you time and money, but it also can make the transition to your new home easier and more pleasant for your family. Here are 10 proven tips to help make your move a trouble-free experience from start to finish:

1 Set a budget and stick to it.

5 Get rid of everything you don’t want or need.

2 Hire reliable movers and be clear about your

6 Get a head start by first boxing things you

expectations and their company policies.

3 Take care of the details, such as utilities to

be shut off or transferred, and contact your bank, credit card issuers and any other company that regularly sends you mail. Be sure to change your address with the post office.

4 Make a packing list. Go room to room and make

an inventory list. Organize it first by room, then by type of item (i.e., furniture, linens, packable items, fragile items and valuables). Once you have a comprehensive list, use highlighters to color-code all items into three categories: keep, sell or give away.

SAY YES TO CRS

use less often, such as off-season clothing, extra linens, tchotchkes or electronics. Clearly label the outside of each box with its contents and the room where it will go in the new house.

7 Plan to transport valuables yourself.

8 Prep your new home. If at all possible, go to

first). Have as many items as possible ready to go— this should be close to everything in your home.

Also, have a cash tip ready for each mover.

10 Donate canned goods and food items so you don’t have to move them. Organizations like Move for Hunger (moveforhunger.org) can help you clear out your pantry while also helping those in need. Move for Hunger works with a network of about 650 moving companies to deliver unwanted canned goods to local food pantries.

your new home before moving day to clean and make sure the necessary utilities have been turned on.

9 Show the movers which items you

want loaded last (and therefore unloaded

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.

OPEN FOR BUSINESS With more than 60 approved merchants like the ones below, the CRS Vendor Marketplace offers great deals on products and services that can help improve your business and enhance your personal life. Whether you are looking for a new CRM system, a tablet device or car rental, you will find something to help you save time, enhance client relationships, and build your personal brand or future sales as well as referrals.

Available exclusively for CRS members, explore product categories such as education, travel, marketing and more. Or search for a specific product or service by name like HotelStorm which has arrangements with over 700,000 worldwide properties that can save you 10 - 55% over other travel sites.

Even add your own reviews and ratings. To find out more, just visit crs.com and click on the Vendor Marketplace link at the top of the home page.

ask a

CRS advice from your peers

Q:

… the best of the best!

—Marilyn Messenger, Andrew Mitchell & Company, Concord, Massachusetts

… ditto! The best!

I’ve met some great agents while taking CRS classes and love the instructors.

—Heather Colella, Gloria Nilson & Co. Real Estate, Shrewsbury, New Jersey

MAD LIBS

Fill in the blank: CRSs are

…simply the best. … the best of the —Jodi Sherretts, best!

First Market Realty, Houston

…highly regarded.

—Sandra Mathewson, RE/MAX 4000 Inc., Grand Junction, Colorado

… the G.O.A.T (Greatest of All Time) —Gerald Mack, The Virtual Realty Group, Durham, North Carolina

—Pedro Martinez, Xecutive Realtors, Laredo, Texas

….fabulous.

—Tonya Bush, Signature Southwest Properties, Los Lunas, New Mexico

…exceptional. :) —Terrie Junkin, RE/MAX Nexus, Birmingham, Michigan

… your best partners … the pinnacle of in real estate! the profession!

—Jo Ann Lowe, Idaho Farm & Home Real Estate, Caldwell, Indiana

—Mark Shepherd, Windermere Real Estate–Utah, Layton, Utah

… proven, educated, successful real estate professionals.

… outstanding in every way.

Dawn Leahy, Pacific Sotheby’s International Realty, San Diego

… the most experienced.

…professional.

—Anne Meczywor, Roberts & Associates Realty, Inc., Lenox, Massachusetts

—Janet Thompson, Thompson Daviau Realty, Boulder, Colorado

… above and beyond the aver… dedicated to age agent. They … the most suctheir industry can facilitate … unmatched for and provide cessful agents… … o utstanding and the transaction their experience, unmatched Elite performexceptionally so it can close. professionalism knowledge in ers…The best trained.

—Linda Kelly, and knowledge. the marketplace. in the business.

Crye-Leike Realtors, —Wendy Ruzic, —Mia Patch, S&P International Realty, LLC, Miami

—Greg Smathers, Smathers Real Estate, Inc., Clarion, Pennsylvania

—Leslie Monaco, Kentwood Real Estate, Greenwood Village, Colorado

Fickling & Company RE Services, Warner Robins, Georgia

… exceptionally … proven and … c rème de la professional tested, best crème. service providers. of the best.

—Ann Quinlin, —Martina Schneider, RE/MAX Greater Atlanta, Marietta, Georgia

Laer Realty Partners, Marstons Mills, Massachusetts

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20 17

July Aug

The Residential Specialist trsmag.com

—William Tong, Golden Land Investments and Financial, Inc, Arcadia, California

Powell, Tennessee

… committed to lifelong learning.

—Kirk Simmon, RE/MAX Main Line West Chester, West Chester, Pennsylvania

—Sarah Marrinan, Keller Williams Premier Realty, Vadnais Heights, Minnesota Join us on Facebook at Facebook.com/ CRSConnect for questions like this, giveaways, special offers, the latest updates and more.

FEBRUARY 5–6, 2018

GAYLORD TEXAN RESORT & CONVENTION CENTER

In 2018, the brightest stars in residential real estate will head to Dallas, Texas, February 5–6, for two days of unparalleled networking opportunities, business-building strategies, and the chance to get insights from top-producing agents and industry leaders. Invest in the future of your business and register today!

REGISTER NOW

FOR ONLY $579!

CRS.com/sell-a-bration REGISTER NOW

Early bird pricing

CRS members . . . . $579 Non-members . . . . $629

Regular price

$679 $729

Don't forget to register for our preconference one-day course on Feb. 4 CRS members . . . . . . . . . . . $150 Non-members . . . . . . . . . . . $180

BOOK NOW AND SAVE!

This is home.

It’s a place called amazement.

Home is a word that signifies so much. You understand what it means for each of your clients, and they rely on you to lead them on their journey there.

Our goal is to help your clients truly understand their home, so they can feel good, feel right, and know the miraculous feeling of home.

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