The Residential Specialist, January/February 2022 by The Residential Specialist

JAN/FEB 2022

B USINE S S INTE LLIG E N CE F O R THE R RC PRO FE SSIO NAL

A POSITIVE OUTLOOK

MARKET IN G

Incoming RRC President Holli Woodward, CRS, shares her experiences in the industry and her plans for the future

+ Go back to the basics with your marketing 9 + Why client reviews are necessary 12 + Finding a group of trusted vendors 22 + How to create great webinars 30

CRS-063

Join Us MARCH 4-6, 2022 at the Arizona Grand Resort & Spa Phoenix, AZ for Education, Networking & Referrals, and MORE!

Jan/Feb 2022

Vol. 21, No. 1 Cover art:  Adam Murphy

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18 22 26 30

See pages 22 and 30 for marketing articles.

FEATURES 18 F rom Family to Fortunes: Incoming RRC President Holli Woodward, CRS, shares her joy of family life and her hopes for the future of the Council.

22 Trusted Partners: To provide clients with the best service, agents should consider curating a list of preferred, trusted vendors to recommend. By Michelle Huffman

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26 When to Call It Quits: Sometimes an agent's best efforts aren’t enough. Learn when and how to cut ties with clients that aren’t a great match. By Maggie Callahan

30 Web Gems: Creating webinars can be a great way for real estate professionals to showcase expertise in their market and the industry as a whole. By Regina Ludes

7 2

Jan/Feb 2022

CONTENTS 4

Vol. 21, No. 1

Aerial View Holli Woodward, CRS

igital Channel: Online classes, tools and D resources available from RRC.

Market Pulse 8

9 marketing article

ersonal Perspective: Tracy Jones, CRS, P Michael Saunders and Company, Sarasota, Florida Back to the Basics: As we look to the future, agents are again finding success with more traditional marketing tactics. By Jenna Grundtner

12 T ake Their Word for It: Client reviews are a vital piece of any successful real estate marketing plan. By Megan Kramer

16 S mart Living: Books and podcasts to help real estate agents thrive. 34 M arket Values Insights from industry data.

Specialized Knowledge 36 C ouncil Classroom: How to determine the perfect price point for your listings. 38 I nnovations: Tech tools that may prove the most useful for real estate agents.

12 48

40 Issues of Importance: The most pertinent real estate industry news that can help your business.

Designation Nation 42 Y our Own Council: RRC news and updates. 44 Ask a CRS: Advice from the country’s top agents. 46 RRC Connect: Expand your network. 48 B alancing Act: Taking on too many clients or listings can have a negative impact on your work/life balance.

EDITOR Kimberly Cure kcure@crs.com 800.462.8841

Advertising Manager Jim Beckwith 312.321.4447 bd@crs.com The Residential Specialist is

ASSISTANT EDITOR published for Certified Residential Amelia Garza Specialists, general members and agarza@crs.com subscribers by the Residential Real CONTRIBUTING WRITERS Maggie Callahan Jenna Grundtner Michelle Huffman Megan Kramer Regina Ludes 2022 BOARD OF DIRECTORS President Holli Woodward, CRS President-Elect Pam Ruggeroli, CRS First Vice President Tricia Nekota, CRS Immediate Past President Alex Milshteyn, CRS Members Sandy McRae, CRS Bruce Myers Addie Owens, CRS Kurt Thompson, CRS John Young, CRS Chief Executive Officer Lana Vukovljak Staff Liaison Patricia Stodolny

Estate Council. 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 buying and selling residential real estate. The Residential Specialist is published bimonthly by the Residential Real Estate Council, 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 RRC at the above address. The Residential Specialist (USPS0021-699, ISSN 1539-7572) is distributed to members of the Council as part of their membership dues. Nonmembers 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

PUBLICATION address changes to: MANAGEMENT The Residential Specialist,

c/o Residential Real Estate Council, 430 North Michigan Ave., 4 th Floor, www.glcdelivers.com Chicago, IL 60611-4092.

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Analyst Life Coach Interior Designer Project Manager

Real Estate Agent

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Jan/Feb 2022

“

I am the first president in the history of RRC to be elected by the Council members, and I take much pride in that.”

Aerial View

From the desk of Holli Woodward, CRS, 2022 RRC President

Leading Through Communication

s the incoming 2022 RRC president, I have the utmost respect for every single person that has taken on a leadership role and given back to this industry and RRC. RRC members are truly the best of the best in my book. That is why I take tremendous pride in being the first president in RRC history to be elected by our members. I am, and will always be, a member first, despite what my title may be. The membership—my friends—is what matters most. Thank you for your belief in me. As an active member, I have had the opportunity to build irreplaceable relationships with members, volunteers and leaders at all levels, and they are the reason that I hold this position today. I’ve witnessed firsthand what can be accomplished when we collaborate, and I intend to utilize the collective expertise and experience that members possess as I take on my new role. It has been nearly two years since COVID-19 disrupted our lives, shifting the way in which we were able to connect with one another. I look forward to reengaging our membership this year at our amazing in-person classes and events. There is no price tag that can be placed on

the networking and relationships built when top-tier professionals come together. Our goals this year include empowering and assisting our incredible boots on the ground, #Team22 state leaders, to expand our membership this year and in the future. I believe every CRS deserves to sit across the table from another CRS or an RRC member working on their designation. I envision a future with additional global expansion for RRC. We have numerous opportunities around the world and have started work with many global partners. When I began my real estate career in 2001, I worked as an assistant for an amazing team where I observed agents whom I grew to admire. I wondered: What is the one thing that sets them apart? I kept hearing “CRS,” and seeing their production awards and acknowledgments for their involvement piqued my curiosity. I thought that you had to have the CRS Designation to be a member of RRC—but I learned that is not the case. You can, and should, absolutely join the Council the day you get your license and work toward the designation, or simply take advantage of all of RRC’s amazing education and member perks. During my term, I will put energy into informing REALTORS® that RRC accommodates both CRS Designees and those who have not achieved the designation. RRC is about education, advocacy, referrals and networking. From the time you start your career until retirement, the Council has plans in place that will assist you. This has been the foundation of many agents’ success, including my own, and this work will progress under my leadership. As we head into this new year, please know that the board and I are accessible to you. At no point in the process of my leadership journey have I not taken a call, and that will not change. Know that we value and need the input of membership to understand where the pain points are. Please reach out to us with ideas and solutions. How can we help you? What are we missing? We are constantly looking to do and be better, and hope to grow the Council into the best that it can be, and it will not happen without you. #Team22, onward! TRS

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Photo: Adam Murphy

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Jan/Feb 2022

Digital Channel

Online resources for RRC members

RRC strives to provide value to members in the digital space. Each issue of The Residential Specialist highlights classes, tools and other member resources available online.

and your business the most. It’s hosted by and features some of the industry’s top-producing agents and thought leaders skilled at breaking down trends in the housing market in a simplified way. With “Real Estate Real Talk,” you can cut through the noise while growing your knowledge and expertise.

“Real Estate Real Talk” will aim to have a new episode every week available to our members. Stay tuned for more updates and exciting news about the podcast!

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iStock.com/nortonrsx

s residential real estate agents, you want to stay aware of industry news and trends that impact your business—but the volume of information can be overwhelming. “Real Estate Real Talk,” the new podcast from RRC, focuses on the news that impacts you

Jan/Feb 2022 2022 Jan/Feb

PERSONAL PERSPECTIVE Tracy Jones, CRS, has reinvented her real estate business since relocating from Indiana to Florida.

PAGE 8

Market Pulse Photo: Lori Sax

TRENDING HEADLINES AND IDEAS POST-COVID

CLIENT REVIEWS

SMART LIVING

Many agents say that traditional marketing tactics are producing the best results.

Learn great advice on how to utilize client feedback to make your business shine.

Agents share the best books and podcasts they’re consuming on a daily basis.

PAGE 9

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MARKET PULSE

Jan/Feb 2022

Personal Perspective

Profiles of people to watch

Tracy Jones, CRS Michael Saunders and Company, Sarasota, Florida

“

Furthering your career through education is so important, not just because of the content in the class, but also being part of a group where you can share referrals is good for career advancement.”

Tracy Jones, CRS, achieved the CRS Designation in 2013. She can be reached at tracyjones@michael saunders.com or 941-376-3405.

How did you get involved in real estate?

I got into real estate when I was about 25 years old. At the time, I was in a bad relationship where all aspects of my life were controlled. One day, someone said: “You should get into real estate.” So I took the class to get licensed, and that started my career. It’s not the type of job where you’re really monitored; you get a lot of freedom in real estate. I quickly became very successful and was able to make some of my own money to put aside. I hired a very good real estate coach, and he said, “Something’s just not right in your life.” Eventually, he helped me get my freedom. I’ve shared my story publicly with my sphere and others. My new husband and I teach real estate, and we mentor other women who are in a similar situation, so I get a lot of satisfaction from helping people who are in a similar spot.

When did you become a CRS?

It took me a while to get the required number of transactions for the CRS Designation, but it was the second one I earned. I really believe in continuing education. Furthering your career through education is so important, not just because of the content in the class, but also being part of a group where you can share referrals is good for career advancement. I like being part of the referral groups and enjoy being invited to networking events.

What is your market like, and how have you been successful there?

My husband, Eric, who is on my team, and I are working to establish ourselves in Sarasota, Florida, after we moved from Indiana last June. It’s taken so much to start in an area where it feels a little saturated with agents. We picked the area based on school

grades, crime statistics, housing prices—the usual. We didn’t know anyone here, so we are still building a sphere for our business. We went back to the old-school basics and started prospecting FSBOs and expired listings.

What was it like transitioning from the way you were selling in Indiana to what you’re doing in Sarasota?

The town I came from was a small Midwestern manufacturing community, so almost every property was a single-family ranch. But when we got here, we saw all these high rises, and I told my husband, “I don’t know about selling condos.” There were so many, and it just seemed so confusing. Now, so much of my business is condos. Nothing that can prepare you for it—you just learn and adapt.

What is your marketing strategy since you are in a new-to-you market?

We are definitely doing major marketing. I think one of the greatest

advantages for us is that there’s a direct connection between people in the Midwest and South Florida. The snowbirds are looking for vacation homes, and then later they retire here. There’s a flight from my old town into my new town, and we put display ads at the airport baggage claim from my old town. There’s a picture of me and Eric and it says, “Hoosier connection to South Florida?” with our website, email and phone numbers. Plus, we created a relocation guide, and the airport lets us display them in designated brochure boxes. The guide talks about all of the great things about the city and what we like to do. Hopefully, people will use that as a tool for their vacation, and if they decide to move down here, they might recognize us from being in real estate back in Indiana for 18 years. I think that’s the most unique thing that we’re doing. All of our sales so far have been primary residences, and 90% of our clients are from Indiana. TRS

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iStock.com/DNY59/ Enis Aksoy

t’s no secret that the COVID-19 pandemic impacted every industry, and the housing market was no exception. For many REALTORS®, marketing strategies and client relationships were tested, changed

The Residential Real Estate Council crs.com

MARKET

By Jenna Grundtner

and, ultimately, strengthened over the course of the past 20 months. Across the country, one common theme stood out: the return of traditional, oldschool marketing tactics. A renewed emphasis on mailers, personal outreach, and both directional and yard signs proved to be essential and beneficial, and many REALTORS® say going back to the basics will continue long after the pandemic ends.

Back to the Basics

Jan/Feb 2022

Reviving traditional marketing strategies Post-COVID

Many REALTORS® say using traditional marketing strategies will continue long after the pandemic ends.

MARKET PULSE

Jan/Feb 2022

Post-COVID

Reviving traditional marketing strategies

Mailers

“

Drive-by gifts left on doorsteps were especially rewarding and appreciated by clients.” —Tiffany Spence, CRS

For more successful ideas on how to stay in touch with clients, check out the webinar “Marketing Systems for Connecting with Your Sphere” at CRS.com/webinars.

Tiffany Spence, CRS, broker and owner at Spence Properties in Crestview, Florida, says that her marketing strategy shifted based on consumer behavior. “More people were staying home, so we tried to reach them there through mailers, phone calls and social media.” She says that both niche and generic mailer visibility drastically increased and credits that to the fact that life inevitably slowed down and people actually took the time to read their mail.

no way we can actually pinpoint why signs have been more effective, we assume that people had more time on their hands and may even have been driving around just for fun, stumbling upon yard signs that sparked interest,” Spence says. Spence says that these “big three” have not shown any sign of slowing down to pre-pandemic numbers, despite Florida’s return to near-normal, restriction-free life. “It’s surprising there’s been no downturn in these strategies, so these ‘big three’ are definitely here to stay once again,” Spence says. “It’s like we’ve returned to the basics of when we all first started out in this industry.”

Personal Outreach

Spence also emphasized the importance of client outreach during the pandemic, a time where personal interaction was limited yet so extremely craved. Outreach turned more personal, instead of mass emails, calls and voicemails. “Maintaining those past client personal relationships resulted in many referrals,” Spence says. She says that drive-by gifts left on doorsteps were especially rewarding and appreciated by clients.

Signage

Spence jokingly says that she used to tell REALTORS®, “The yard sign is not to sell the home; it’s for you.” Now, every agent and every house have both a yard sign and directional signs leading potential buyers to the home. “Although there’s

Social media

Despite being a relatively “new” business fundamental, social media marketing also saw a similar renewed emphasis. This type of marketing is constantly evolving, but the pandemic’s dependence on virtual interaction— particularly through platforms such as Zoom, Skype and Microsoft Teams— completely transformed the way social media can be used to buy and sell homes.

The Residential Specialist trsmag.com

Jan/Feb 2022 Keller Williams, a well-known agency in Austin, Texas, has been conducting live Q&As on Twitter via webcam. Although real-time interviews and videos are nothing new, the pandemic made them trendy, and potential buyers and sellers will expect more social media content in the future. More recently, individual entrepreneurs have been promoting COVID-19 reliefrelated charities. Establishing a solid online reputation is crucial in today’s world, and being charitable is a big deal in an industry like real estate, which sometimes doesn’t have the best reputation with the public.

MARKET MOMENT

The Makeup of Real Estate Firms Real estate brokerages come in all shapes and sizes, as evidenced by the National Association of REALTORS® (NAR) 2021 Profile of Real Estate Firms. In the report, NAR surveyed its Brokers of Record membership (executives and senior management) to “understand the demographics, composition and characteristics of real estate firms from the perspective of executives and managers.”

Here are a few of the report’s findings: he typical Broker of Record is a manager T or owner of a single-office firm and identified as a broker owner.

iStock.com/Talaj/leonovo/KLH49/miluxian/triloks/Enis Aksoy

The most basic fundamental

Rick Baker, REALTOR® at Coldwell Banker APEX, Realtors in Frisco, Texas, embraces the meaning of “back to the basics” in an entirely different way. A proud “different type of REALTOR®”—a claim backed by many clients and colleagues—Baker spends little to no money on marketing. Instead, he focuses on what he deems the true duty of a REALTOR®: to take care of a client’s money as an advisor. “Often I’ll tell clients, ‘Don’t sell your home. Use it as an investment,’ and I teach them how,” Baker says. “And that trust and guidance we build together has resulted in more clients through generations and word of mouth than any other form of marketing ever has for me.” Baker says his reputation and slightly unorthodox approach was his way of marketing pre-pandemic, and it will only continue to grow as life returns to normal. “I remind myself that REALTORS® are supposed to use our experience to guide the client. I tell them exactly what I would do if I were standing in their shoes.” TRS

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he typical firm is an independent non-franchised T firm with three full-time real estate licensees. he typical residential firm has been operating T for 16 years. egarding location, 51% of firms operated in R a metropolitan area, while 27% worked in rural areas or small towns. he breakdown of sales volume is as follows: T 30% from past client referrals, 30% repeat business from past clients, 10% from their website and 10% through social media. ue to growth in their primary businesses, 38% D of firms were actively recruiting real estate agents in 2021. he biggest challenges that firms expect to T see over the next two years are: maintaining sufficient inventory (55%), housing affordability (53%) and competition from nontraditional market participants (50%). To read the full 2021 Profile of Real Estate Firms report, visit NAR.realtor/research-and-statistics. TRS

MARKET PULSE

Client Reviews

Jan/Feb 2022

Utilizing client feedback for success

Take Their Word for It By Megan Kramer

rom doctors to restaurants to petgrooming services, people are utilizing online reviews more than ever to determine with whom they want to do business—and of whom they’d rather steer clear. Choosing a real estate agent is no different. While word of mouth

is still a helpful way to gain new business, having a strong online presence with positive client reviews can help you stand out from the crowd. There are certain clients who will take it upon themselves to leave you a review after you’ve helped

iStock.com/Rawpixel

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Jan/Feb 2022 them buy or sell their homes, while others may need to be prompted. But when and how should you ask? And what do you do when the reviews start rolling in? A few REALTORS® share their advice.

Ask after closing—but don’t wait too long

Once a client has closed on their home, ask as soon as possible if they wouldn’t mind leaving you a review, so the events and details of the experience are fresh in their minds. If you let too much time pass,

clients may forget key details or ignore your request for a review altogether. If asking feels awkward, try to frame it as less of a formal request and more like just another part of the transaction process, recommends Molly Wendt, CRS, REALTOR® Associate at Century 21 Randall Morris & Associates in Wimberley, Texas. In Wendt’s case, Century 21 uses customer satisfaction platform RealSatisfied after closings to automatically send clients surveys, which include questions about their experience and a section for them to leave a review in their own words. Wendt lets her clients know the email will be coming and refers to the survey as a “report card.” “I tell them that they will be getting a report card in their email shortly after the closing and ask if they would fill it out and tell us how they feel [about the transaction],” she says. “I make it sound like it’s not a big deal because it isn’t a big deal. It’s a simple thing to do, but it’s very, very good for your business.” Wendt says the survey is essentially a checklist of every aspect of the transaction, and clients can provide a rating for each. There’s a percentage given at the end, and every agent looks for 100%. “I always tell my clients to give me an A+ on my report card,” Wendt laughs.

Try to keep reviews in one place

When you ask clients to leave reviews, ask them to do so on one specific site, so it’s easier for you to keep track of them. Tracy Jones, CRS, broker associate with RE/MAX Platinum in Sarasota, Florida, recommends asking clients to submit reviews on Google because they help boost your website’s SEO. “The more information Google has on you, the better placement they give you [in search results],” she says. This increases your business’ visibility and the chance that homebuyers and sellers will reach out to you over your competition. Of course, some clients will leave reviews in other places, which is when a tool like RateMyAgent comes in handy, says Catalina Schreader, CRS, broker associate at Dale Sorensen Real Estate, Inc. in Melbourne, Florida. The Residential Real Estate Council crs.com

“

I make it sound like it’s not a big deal because it isn’t a big deal. It’s a simple thing to do, but it’s very, very good for your business.”

—Molly Wendt, CRS

MARKET PULSE

Jan/Feb 2022

Client Reviews

Utilizing client feedback for success

RateMyAgent allows account holders to link their profiles on sites like Google, Zillow and Facebook, so reviews on these sites can be compiled under one umbrella. You can also upload past reviews, which is helpful for agents just starting to use reviews in their digital marketing. “It’s very important to try to have all of your reviews in one place,” Schreader says. “I think a lot of agents have reviews all over, so [on one site] it might show that they have only five or 10 reviews, when in reality, they have over 100 reviews, but they’re all in different places. I think I still have reviews out there I have to organize.”

Boost reviews with media

Schreader recommends utilizing tools like RateMyAgent not only for compiling reviews, but also for making them shareable. RateMyAgent can tie reviews

to transactions and create branded posts, adding photos of homes and clients, information on homes and links to your website. This extra content adds a layer of authenticity and human connection to the reviews while also boosting your website’s SEO once they are promoted on sites like Google or Facebook. Outside of tools like RateMyAgent, agents like Jones have found success in video recording client testimonials. Jones uploads them to YouTube, then shares the videos on her website and social media accounts. Jones’ graphics team also creates social media posts based on information from reviews. It’s important to pay attention to your website and social media analytics, so you know what platform gets the most traffic. Sharing client reviews on your most popular sites will increase visibility and engagement. TRS

CLIENT REVIEWS: DOS AND DON’TS Like any endeavor, using client reviews in your digital marketing comes with best practices. Catalina Schreader, CRS, broker associate at Dale Sorensen Real Estate, Inc. in Melbourne, Florida, shares her insight:

Learn more about how to lay the groundwork for effective online reviews with the eLearning course “Building a Referral- Based Real Estate Business” on CRS. com/catalogsearch.

f Respond to all reviews when you receive them, both good and bad f Ask for reviews not just from clients, but also others you’ve had a positive experience with, such as lenders or title companies f Utilize tools like RateMyAgent and Homesnap to make compiling and sharing reviews easier

DON’T:

f Use client reviews in your marketing without client permission f Rely on plain-text reviews—spice them up with photos and video f Let your reviews languish sporadically around the internet—round them up into one comprehensive place

The Residential Specialist trsmag.com

iStock.com/Alexey Yakovenko

DO:

Jan/Feb 2022

MARKET MOMENT

Sales Projected to Decrease in 2022 Annual pace of home sales, by quarter 8 ■ New homes ■ Existing homes

0.93

Annual pace of sales (millions)

0.97

0.70 5.49

6.10

0.90

6.66

6.3

0.74

0.70

0.79

0.88

0.90

0.88

5.83

0.86

5.71

5.69

5.68

5.63

Q2 2021

Q3 2021

Q4 2021

Q1 2022

Q2 2022

Q3 2022

Q4 2022

6.8%

6.6%

0.71 4.38

Q1 2020

Q3 2020

Q2 2020

Q1 2021

Q4 2020

Annual home price appreciation, by quarter 20% Annual home price appreciation

While most of the pandemic has been defined by a red-hot housing market, that trend may begin to slow in 2022. According to projections published in the Fannie Mae Economic and Housing Outlook September 2021 report, sales of new and existing homes will fall by nearly 2% in the next calendar year. While the report projects a rise in new home sales, it states this increase is unlikely to offset the expected drop in existing home sales. Accompanying this drop in sales volume, Fannie Mae predicts home price appreciation to decrease significantly from highs seen during the pandemic. At its height during Q2 2021, annual home price appreciation swelled to 17.4%. For Q1 2022, projections are set at 12.1%, before dropping even further to 6.8% for Q2. The report also projects that 2022 will see an uptick in mortgage rates, rising above 3% for the first time since Q2 2020, which may contribute to the lower projected sales numbers. TRS

17.4%

16.2% 14.8%

15%

12.9

12.1%

11.1%

10%

8.2% 6.3

5.8%

5.1%

Source: Fannie Mae Economic and Housing Outlook, September 2021

Q1 2020

Q2 2020

Q3 2020

Q1 2021

Q4 2020

Q2 2021

Q3 2021

Q4 2021

Fannie Mae mortgage rate forecast 3.5%

3.5%

3.2% 3%

2.8

2.9%

Q3 2021

Q4 2021

3.1%

Q2 2022

Q3 2022

3.2%

2.5% 2% Q1 2020

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

The Residential Real Estate Council crs.com

Q1 2022

Q4 2022

Q1 2022

Q2 2022

Q3 2022

Q4 2022

MARKET PULSE

Jan/Feb 2022

The real estate industry is always changing. One great way to keep your finger on its pulse and grow yourself professionally is by reading books and listening to podcasts. With so many options available, we take a closer look at what RRC members and CRS Designees are actually reading and listening to.

Smart Living

Tactics for professional growth

Books “How to Master the Art of Listing and Selling Real Estate”

“The Secrets of Question Based Selling”

Tom Hopkins has taught the techniques in this book that have made him a millionThis book isn’t speaire to more than 1 billion real estate pros cifically tied to real on four continents, estate, but it’s very and now he shares helpful in terms them with readers, of general selling revealing how to strategies. This succeed in virtually book teaches how any market. to direct the thinkThis book does a ing of customers by wonderful job laying asking questions. out what it is to be successful in real estate—and how you can be, as well. It is, however, slightly “The Millionaire Real Estate Agent” dated and refers This book topped the list of recommendato tech as a newer tions from CRS Designees. Gary Keller’s invention. But “The Millionaire Real Estate Agent” is the majority of about taking your real estate career to the the advice is still next level. But it’s also an important read highly relevant. early in your real estate career because it forces you to see the big picture and think long term. This book “Ninja Selling” will give you In “Ninja Selling,” author Larry a millionaire Kendall transforms the way agent mindset. readers think about selling. First, you’ll He points out the problems learn how to with traditional selling think like a methods and offers a millionaire. science-based selling Then you’ll system that gives learn how to predictable results, become one regardless of person- through real ality type. estate sales. The Residential Specialist trsmag.com

Jan/Feb 2022

Podcasts “Real Estate Rockstars”

“Crazy Sh*t in Real Estate”

CRS Designee Leigh Brown shines in this podcast that shatters the HGTV-induced veneer of real estate and celebrates the challenges of working in this wild, wacky business.

This podcast interviews the industry’s top performers and has the goal of real estate agents making more sales and earning higher commissions. With a new guest featured on each episode, listeners hear from up-and-coming agents, seasoned brokers, real estate investors and more.

“Social Selling Made Simple with Marki”

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CRS Designee Marki Lemons hosts this podcast and describes it as THE place for REALTORS® to learn how to use social media and tech, so they can sell more homes and help more people. Each week, listeners hear real conversations with industry leaders, successful agents, coaches and social media experts who break down their best strategies to attract clients online.

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NAR’s “Center for REALTOR® Development” podcast focuses on education in the real estate industry. Check it out at NAR.realtor/ center-for-realtordevelopment-podcast.

Jan/Feb 2022

Moving came naturally to Holli Woodward at a very young age.

Growing up, her father was a superintendent for an industrial construction company, overseeing power plants across the U.S. With each new assignment came a new place to call home. After marrying her high school sweetheart, Steve, and starting a family, they hit the road with Steve’s job. To be together as a family, they stored all their belongings and lived in an RV. After a few years and a new job opportunity, it was time to

create a home of their own in Oklahoma. Working with an under-experienced agent left Woodward handling most of the transaction herself. In fact, her agent even suggested she get into the business. She has been taking on the real estate industry ever since. “It was a matter of personal experience— watching how it worked with my parents and going through the homebuying process with my husband—that really gave me the real estate ‘bug,’” says Woodward. The Residential Specialist trsmag.com

Photo by Adam Murphy/iStock.com/enjoynz

Woodward’s family experiences got her involved in real estate, and family keeps her going. She says her parents, husband and two sons are her biggest supporters. “We are an extremely close-knit family. They have always been there and supported me in all aspects of my career,” says Woodward. Her eldest son, Joshua, is also her business partner and a CRS. Although they come from two different generations of conducting business, they work together seamlessly and complement one another. “It is a different level of mother-son relationship, and to have the opportunity to work side by side is a tremendous blessing,” says Woodward.

...

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n to fo r t u

Your son, Joshua, is a CRS. How has family shaped your career? Would you consider him one of your motivators?

Any full-time REALTOR® who raised children, or is in the process of raising children, can tell you that without your family’s support, it does not work. It just doesn’t. This industry can take everything out of you, but there are also tremendous blessings as a result. My sons are 25 and 28 now. [My oldest] Joshua is a CRS Designee and has gotten extremely involved in the industry. It was

the very best decision for him because he is just a natural. I have often thought, if I knew when I got started at age 28 what he knows at his age, it would have been amazing. It’s fun and exciting to see it from a fresh, different perspective. It’s hard to believe that he has been in the industry for eight years—and yes, he absolutely motivates me to look at things differently and try new things. I always want to be learning.

“

It is a different level of mother-son relationship, and to have the opportunity to work side by side is a tremendous blessing.” —Holli Woodward, CRS

Holli Woodward, CRS, prides herself on the close connection she has with her family, pictured here.

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What do you think is the biggest difference in the way you and your son approach this career? And what is the biggest asset to having those different approaches?

I pledge to remain forwardthinking and objective as we grow membership, expand the Council’s reach and increase our member referral network.” —Holli Woodward, CRS

I’m not mom—and he is Joshua. [He’s] not my son; we are business partners and we respect our roles. I am constantly listening and learning from him, and he does the same. Seeing the Young Professionals Network perspective is a lot of fun. It has forced me to look at things differently and be OK with getting uncomfortable. That is growth!

What skills have served you the most and helped you be successful in this business?

Empathy. Not just with clients but other associates. We have been working in intense times as of late in this industry. Listening and wanting to understand where clients are coming from and what they want to accomplish is imperative because the narrative is different for all. It is a fact that REALTORS® make and break transactions every single day, so show

grace. Empathy paired with communication and compassion—communication (or lack thereof) is such an unnecessary challenge in our industry, especially in a complex market laced with unprofessional or under-experienced agents. And compassion, because everyone is going through something you know nothing about. We are all in this together.

What are your industry predictions for 2022? What would you personally like to achieve this year in your business?

In the 21 years that I have been in the industry, [the current market] was nothing like any of us have ever seen, and it has continued. I believe things will improve for educated REALTORS®. I believe we will continue to see new construction being built at elevated prices, because if builders simply dropped their prices because supply costs have decreased, it would destroy home values for those who purchased at the height. I believe we’re going to see more inventory with consumer confidence. I believe we will see interest rates start to climb over the next year and beyond, and, humbly, our economy depends on it. That will cause one of two things: People will start moving or they’ll pause because they will want to wait it out until rates come back down. The truth of the matter is, those of us who are constantly equipping ourselves with

education and went through 2008 and 2009 understand that there will always be people who have to buy and sell. We must have the knowledge and skill set to guide them through the uncertainty. Every single buyer and seller deserves to work with a CRS. As far as what I see happening in real estate as a profession and for us as REALTORS®, I see reengagement. Faceto-face networking on steroids. The energy in the rooms at Sell-a-bration® Re-connect and the excitement that we experienced at the NAR Presidents’ Circle conference are indicators of great times ahead in this amazing industry. I have no doubt we will experience it again at Sell-a-bration Envision in Phoenix. I hope everyone that can will join us! It is a mind-blowing honor to be the first president of RRC to be elected by the members. I do not take the trust placed in me lightly. I will operate in our members’ The Residential Specialist trsmag.com

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“

I’ll have people call me and say, “Hey, my [child] got her real estate license, and we’ve watched you and Josh work together successfully for a lot of years […] What’s the secret?” They’ll also ask, “Do you guys get into arguments?” And we absolutely do not. When we’re here in the office and when we’re working in business, I am Holli—

Jan/Feb 2022

best interest to ensure the future of the Council. I promise to do that with honor, integrity, determination and grace. I pledge to remain forward-thinking and objective as we grow membership, expand the Council’s reach and increase our member referral network. I have always said that every CRS deserves to work a transaction with another CRS (or RRC member working on their designation). There is no way that can be accomplished alone, and it shouldn’t be. I will work together with our Board of Directors, RVPs, state leaders and staff, and be reaching out to you, the members, to help accomplish our goals. #Team22, we cannot do it without you!

What advice would you give new agents getting involved in today’s market?

I would tell them now, more than ever, you need to “Say yes to CRS.” Education is imperative. You never want to stop learning. Invest in yourself because investing in yourself is an investment in your clients, as well. If you’re educated, you can have more intelligent conversations, and you have more confidence when you’re walking into a listing appointment or preparing or negotiating a contract for a buyer or seller. I would absolutely encourage them to become members today and enjoy the amazing benefits while working towards their CRS Designation.

What has been the best professional advice you’ve received?

That would be to invest in myself, to take that time to educate yourself. I have said that is my new acronym: ABL—always be learning. It also means “able.” If you are always learning, you will always be able to keep up with the market, keep up with the trends, keep up with the industry and be an effective advocate for your buyers, sellers, investors, etc. Also, to get involved—because if you don’t have a seat at the table, you may be on the menu. TRS

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A SUNDAY AT HOLLI’S 1. Birdwatching In the mornings, you can find Holli looking at the birds in her fountain outside her kitchen window while she enjoys a cup of coffee. 2. Motorcycle Ride She, her husband and her sons all enjoy riding together and taking in their surroundings. 3. Sunday Dinner A non-negotiable for Holli is joining her parents, husband and sons for dinner every Sunday. 4. Late Golf Cart Ride At night, Holli and Steve like to hop in their golf cart with their dog, MoMo, and cruise around their neighborhood. 5. B&B After a long week, Holli decompresses by enjoying some nice B&B time: listening to her Bible audio apps while taking a hot bath.

One of Woodward’s favorite hobbies is riding her motorcycle, pictured above.

Connect with Holli on social media! • Facebook: facebook.com/ holliwoodward • Instagram: holli.woodward

Jan/Feb 2022

REALTOR

TRUS PARTN By Michelle Huffman

Savvy agents know they can’t do everything on their own—and they need trusted business partners to help. That’s why so many CRSs cultivate a list of preferred vendors, with whom they often work so closely that they consider them extensions of their own brand. “Having a robust vendor list is a cornerstone of my business. I love that I can provide this information to my clients, and I’ll be seen as a continuing and valued resource,” says Kim Kerbis, CRS, broker with @properties in Chicago, who cultivates a 36-page list of vendors to share with her clients.

Aaron Zapata, CRS, broker/owner with IMPACT Properties outside Los Angeles, takes a slightly different tack, largely recommending a single preferred vendor. Having these vetted vendors on tap is “essential because it shows that you have a holistic approach to your business and care about all issues pertaining to the home, not just the sale,” he says. To cut to the heart of it: “These people are your team,” says Jessica Olevsky, CRS, broker/owner of JPAR Stellar Living in the Washington, D.C. area. But how agents develop and manage these relationships is a bit of an art form: Everybody has a different perspective. The Residential Specialist trsmag.com

ERS !

M A RKE T G

TED

VENDOR

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Who should be on your list? fMortgage lenders fTitle companies fEscrow companies fHome inspectors fAttorneys (espe-

cially where required by state law)

fHome remodeling specialists fFlooring specialists fPainters fHandymen fMovers

HOW TO EFFECTIVELY VET VENDORS

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Agents should consider a few key factors in the selection of vendors for their list. The vetting process often includes: Personal interviews, especially with decision makers

Public reviews, largely pulled from Yelp and Google

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fElectricians fPlumbers

References provided by other vendors

Recommendations from current clients or other agents

Seeing their work in person where relevant

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“

Having these vetted vendors on tap is essential because it shows that you have a holistic approach to your business and care about all issues pertaining to the home, not just the sale.” —Aaron Zapata, CRS

While REALTORS® have varied approaches on how to vet potential vendors, Kerbis relies on recommendations. “Over 20 years, I’ve developed a very extensive list, from divorce attorneys to dog walkers and everyone in between,” she says. “I like to think that instead of Angie’s List, it’s Kim’s List.” Kerbis considers her list an essential resource to her clients, merited on both its breadth and variety, so the bigger, the better. She adds vendor categories to the list anytime she’s asked for a recommendation and doesn’t have one. With a list that big, she relies on her clients and fellow agents for recommendations, trusting their experience. She

denotes on her list if she hasn’t directly worked with a particular vendor, providing transparency. For Zapata, the value is in the individual recommendation. He has a multi-step vetting process, whittling it down to just a single carefully considered vendor in each major category. He vets online first, then takes potential vendors out to lunch or coffee, paying careful attention to everything from how they present themselves to how they treat the waitstaff. “You get a better idea of who each person really is, rather than treating it like a job interview where they’re trying hard to impress,” Zapata says.

FINDING THE RIGHT FIT

Finding the right vendor is more than just the vetting process. It’s also coming to an understanding with vendors about how the relationship will work. “It’s important to align yourself only with vendors who match your level of service,” Olevsky says. “We are all about client care and offer concierge-level service, and we expect the same of the people we work with.” “We have a very high expectation of ourselves, and that needs to carry on through every single vendor. That means we have that conversation upfront. I want to be clear with them: It’s not just simply giving out leads,” Zapata says. “I expect vendors to elevate their level of service with my clients. Being a preferred vendor is a pretty big carrot.” Olevsky feels it’s also about the quality of the person she’s bringing into someone’s home. She wants to know they are respectful to her clients and property, show up as professionals in their industry, carry up-to-date licenses and insurance, and have top-notch reviews.

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Jan/Feb 2022

HONING THE PERFECT LIST Many agents are quick to knock vendors who perform poorly off the list. “I hold all my vendors accountable,” Kerbis says. “They know if they mess up, they’ve got me to deal with.” Zapata similarly expects his vendors to provide excellent service, and if, for some reason, they don’t provide that service—or don’t call to tell him that something is affecting service like growing pains or a worker shortage—then they will be removed from the list.

But honing the perfect list isn’t just about the stick to the proverbial carrot. It’s also about finding the right vendor for the right job. Many agents then work hard to find vendors like painters or flooring specialists at different price points, opening up more options for clients. Kerbis takes it a step further and does a little matchmaking, suggesting specific vendors from her list to certain clients based on their personalities and properties.

Pay to play ... no way None of the agents we talked to accept any payment for putting a vendor on their list, and they make that clear to clients. Some agents, when offered a percentage of a job in exchange for being on their list, will tell the vendor to offer it instead as a discount to the client.

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MAINTAINING THE RELATIONSHIP

Once a vendor is approved and listed, relationships often flourish naturally. “It’s important to realize it’s a two-way street,” Olevsky says. “You need to be a good business partner to them, make sure you give them business and refer them out, and they know that when we call and need a favor, they help us out.” Zapata does regular check-ins about once a quarter and has a face-to-face meeting The Residential Real Estate Council crs.com

with each about once a year. Many agents invite their vendors to client appreciation parties, exchange gifts during the holidays, sponsor events and, of course, share the compliments and even shout them out on social media. A quality ongoing relationship will pay dividends, though that doesn’t often mean referrals. Many agents say these relationships are not inherently flush with referral opportunities. Primarily they receive referrals from lenders, attorneys, movers and occasionally those in trade industries. However, having this list not only helps clients during the buying or selling transaction but is a reminder of your services throughout their homeownership. Make it clear they can rely on you for recommendations whenever they need them. “This has to be a win for the client, not for me or for the vendor,” Zapata says. TRS

RRC has partnerships with businesses to help you save time and money. Check out all of the Council- approved vendors at CRS.com/about-us/ partner/products.

Jan/Feb 2022

By Maggie Callahan

In a perfect world, every client would be a dream to work with.

Buyers would grab the first house they see, sellers would quickly accept a (fair) offer on their home, clients would listen to every REALTOR® suggestion and everyone would be pleasant. But that’s not reality. Buying and selling homes is stressful business, and it can be an

emotional experience for the client. While many challenges are understandable or easily remedied, there are some instances when it’s in the best interest of the REALTOR® to cut ties, or “fire,” their client. “Sometimes it is really the most efficient thing to do, or, emotionally, the most sensible,” says Janine Gershon, CRS, a REALTOR® at Douglas Elliman in Beverly

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They can’t be pleased

Each client starts the process with expectations. Many buyers who want more house than their budget allows will quickly temper those expectations once they start looking at what is available in their price range. But not always. “I had one family I worked with—they were lovely, but nothing satisfied them,” Gershon says. “I’m very tenacious, and I persevere, but they were hypercritical, and they couldn’t be pleased.” She says she worked with them for years before finally parting ways. Michael Mulvena, CRS, broker at West USA Realty in Tucson, Arizona, says sellers can have the same unrealistic expectations. “People think they live in the Taj Mahal,” Mulvena says. ”If I have someone that is completely unrealistic— when they won’t even consider being logical or rational—I cut ties with them.”

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They micromanage the process

Hills, California. “There’s a balance— you don’t want to throw out the baby with the bathwater, but at the same time, you don’t want to waste your scarce resources.” So when should a REALTOR® decide to cut ties? Here are a few instances when it might be in your best interest to say goodbye to a client.

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Leigh York, CRS, a REALTOR® at CENTURY 21 Judge Fite Company in Fort Worth, Texas, says her most memorable experience parting ways with a client began after the client fired another agent at her company. “My broker suggested I work with them,” she says. “That client called me every day at 8 a.m. to see what happened the day before, even if he knew I was out of town—and this wasn’t a sellers’ market. He was always trying to tell me how to do the job, and we just weren’t on the same page.” Before York cut ties, she made sure to involve her broker in the decision. “The broker told me that if I couldn’t work with him, no one could, so I should just let him go.”

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SET UP FOR SUCCESS

Before you part ways with a client, Leigh York, CRS, REALTOR® at CENTURY 21 Judge Fite Company in Fort Worth, Texas, says there are a few tactics that REALTORS® can try to head off any challenges.

Be honest. Even if it’s a tough conversation. “For example, if I need to say, ‘Your house is filthy. Clean it up,’ or ‘You’re not being realistic. What you’re looking for just doesn’t exist,’ those can be hard to communicate because we don’t want to make the client angry.” But York urges REALTORS® to find constructive ways to have these difficult chats, preventing problems down the line. Gauge their readiness. When you first counsel buyers, talk to them about how ready they are to purchase. “Ask them, ‘Is it possible you would want to buy the first house you look at?’ If they say no, I will show them a couple duds before I show them a diamond.” Actively listen. At the end of the day, it’s about what the client wants, and there may be a different REALTOR® who is a better fit for them. “Before you actually fire a client, talk with your manager or a broker before you commit,” York says. “They may not be able to help, but you may get a referral for all the pain and suffering. Unless they are abusive, using foul language or yelling—that’s my line.” If you make it to closing with a difficult client, York encourages REALTORS® to end the relationship there. “If you stick it out, don’t put them on your contact list for follow-up. REALTORS® forget how awful it was, and they end up doing business with them again. Or they get referrals for people as bad as them.”

They are abusive or offensive

Mulvena remembers the shortest client relationship he ever had. About 20 years ago, he picked up a client to go tour homes. As soon as the buyer got in the car, he began rattling off various racial and ethnic groups he did not want to live near. “I started laughing because I thought my buddy had set me up,” Mulvena says. “When he didn’t laugh, I said, ‘Oh, you’re serious. Well, I’m offended by what you’re saying, so you need to get out of my car.’ He actually didn’t get angry. I think he was shocked more than anything.” Mulvena is an NAR-certified code of ethics instructor, and he says he teaches his students that “jerks are not a protected class.” “I know when you’re starting out, you can be desperate to take any business you can

get, but a jerk will suck all of the joy and all of the creativity out of your life, and they will leave you a dry, cynical husk of a person. I call those people emotional vampires.” The Residential Specialist trsmag.com

Jan/Feb 2022

Beware These Red Flags While some challenges are not immediately apparent, here are a few indications you should be ready to run.

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Avoiding a bad breakup

Once a REALTOR® has decided they need to fire a client, there is no reason to waste any more time, York says. “The more time you spend with someone, the harder it is to let them go,” she says. Gershon agrees. “I think in many cases, the client probably knows it, too, and I’ve just let it go on too long.” When it’s time for that inevitable conversation, calm and rational are the way to go. “This is how I approach it, and, luckily, no one has gotten furious with me in my career,” Gershon says. When York decided she could not work with the client who was micromanaging her, she simply said she wasn’t the right person to help him, and she wished him the best. “He wasn’t angry. He was just surprised,” she says. “In hindsight, I think he was used to bullying and getting away with it. But it didn’t work with me.” Although REALTORS® may want to avoid uncomfortable conversations, ghosting should never be an option, York says. “Some agents stop returning calls and messages,” she says. “That doesn’t just hurt their business, it makes all of us look bad. I get how it seems like the easy way out, but there are far too many reasons not to do it.” She adds that REALTORS® should not take it personally, and they should not burn any bridges in the process. In some scenarios, REALTORS® say they may refer the clients to colleagues better suited to the client’s needs. “After a few years in the business, I figured out it’s OK if I’m not a match for everyone,” Mulvena says. “I just tell them, ‘I don’t think that I’m the broker for you.’ I simply bow out gracefully, they don’t get mad, and I might get a referral fee.” TRS The Residential Real Estate Council crs.com

They bad-mouth their last REALTOR®. Speaking ill about the last person they worked with may mean you’re next. “I usually say, ‘Sorry, there can be bad apples,’” Mulvena says. “If they keep on talking, I’m out. Or, further, if they tell me they sued their last agent? Goodbye.” Adds York, “It doesn’t mean I won’t take them on, but I listen closely. It’s a conscious decision whether I want to work with them or not.”

“

Some agents stop returning calls and messages. That doesn’t just hurt their business, it makes all of us look bad.” —Leigh York, CRS

They’ve already looked at 100 houses or can’t sell their home. If they don’t seem to be able to find what they are looking for, they may have unrealistic expectations, or they just may not be ready to buy. “I ask them if they need to see 100 more before they find one,” York says. For houses they haven’t sold, York asks why. “A lot of times, they say the agent was lazy,” she says. “When everything is someone else’s fault, it’s a huge red flag.” Your gut is telling you to run. “Many times, you just know,” Gershon says. “Go with your gut, and don’t waste any time doing it.”

“How to Tame a Client” is a webinar that will teach you more strategies to survive “Clientzilla’ moments, available at CRS.com/ recordings.

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M A RKE T IN

Jan/Feb 2022

By Regina Ludes

Sven Andersen, CRS, used to host eight in-person seminars a year.

When the pandemic shut them down last year, the CEO of Andersen Group Realty in Winchester, Massachusetts, knew he had to try something different. “I decided I wanted to offer online webinars that would reflect what was happening in the housing market,” he recalls. The result was a series of webinars focused on four distinct market niches: first-time buyers, move-up buyers, investors and sellers. The webinars rotate weekly, so each niche is highlighted once a month. At roughly a quarter of the cost of the in-person seminars, the webinars have expanded his audience and generated more and higher-quality leads for his real estate business, Andersen says. According to On24 Webinar Benchmarks Report 2021, 72% of businesses surveyed say webinars have a direct impact on their customer pipeline and revenue, and 89% believe webinars outperform other digital channels in creating qualified sales leads. Andersen can attest to the success of his own webinars. As of September 2021, he has hosted 36 webinars at a total cost of $7,800, resulting in 600 qualified leads compared to $20,000 annual expense for eight seminars he presented in 2019. Though webinars have been in existence since 1996, they surged in popularity in 2020 as REALTORS® like Andersen sought ways to engage with clients during the pandemic. Agents who have produced webinars say they’re able to showcase their expertise to wider audiences. In return, the webinars have improved brand awareness and generated better leads. While there is an initial investment of time and money, once the systems and strategy are in place, webinars can become a valuable addition to an agent’s marketing mix. With the following guide and insights from several CRS agents, you can get started with your own webinar program.

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find the right topic

First, set a goal for your webinars. Know what you want to accomplish and who your target audience will be. Then find topics that appeal to them. For inspiration, Marki Lemons Ryhal, CRS, a keynote speaker in Chicago, researches trending topics on Google, Facebook and Instagram, which she uses to create a title, description and learning

WEBINAR MARKETING SNAPSHOT The number of webinars offered globally in 2020 grew 162%, and attendance increased to more than 60 million people, according to On24 Webinar Benchmarks Report 2021, which analyzed the digital experiences of its customers. Other key findings: 59% planned to increase the number of webinars they host in 2021. 72% say webinars have a direct impact on their customer pipeline and revenue. 9% believe webinars outperform other digital channels 8 in creating qualified sales leads. 8 6% say Q&A is the most important engagement tool, followed by resources for download (70%). 36% have bought new equipment for their webinars in the past year. 57% create webinars that go straight to on-demand viewing.

objectives. “The topics are based on subjects that people are searching for, not on what I think is important,” explains Ryhal, who offered 125 webinars last year. Leigh Brown, CRS, broker/owner for One Community Real Estate in Concord, North Carolina, who speaks on national real estate topics, says she taps into her knowledge and experience as a REALTOR® for most ideas. Audience members offer suggestions, too. “When they ask questions, I might build a webinar off them,” Brown says.

decide on a format

Once you’ve determined the topic, you’ll need to decide how to present it, whether as a traditional lecture, interview or panel discussion. Brown primarily uses online lectures, while Andersen shares the stage with a lender and attorney who provide different perspectives on a chosen topic. Ryhal has done both lectures and panels. “As a panel host, I’ll ask each speaker the question before I answer it myself. For a 25-minute discussion, I may ask only three questions, but each speaker has two minutes to answer each one,” she explains.

assess technical needs

Of course, you may need to acquire some equipment, such as a webcam, lighting, microphone and webinar platform. Brown says agents should budget $1,000 to cover initial costs. While there are cheaper options available, Brown opted for mid-level equipment that offered professional-quality sound without the cost of a professional studio. A hard-wired internet connection is a must because some wireless connections can drop on occasion, she adds. Ryhal agrees that an external audio mic and proper lighting are important. “Audio is important because many of my webinars are repurposed into podcast episodes.” She carries at least two of each piece of equipment, so she has a backup in case one doesn’t work. You don’t have to be a technical wizard to start producing webinars either, adds Ryhal, who taught herself by watching YouTube videos. “It’s not the experience with technology that matters, but the commitment to learn how to create webinars,” Ryhal says. The Residential Specialist trsmag.com

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choose a webinar platform

WEBINAR PLATFORMS

Choosing the right platform for your webinars may be the most difficult decision you’ll make because there are so many options. What you select will depend on audience size and how and where you plan to host the events. Brown uses Streamyard, which allows her to stream live across several social media platforms at the same time, including YouTube, Facebook and LinkedIn. She records the event for later sharing on social media. She also likes the platform’s capability to compile viewer comments from different host sites, so she can read them in one place. Ryhal prefers Zoom because most people are familiar with the platform, and it’s frequently updated. She also likes its virtual makeup feature, which allows her to record without the need to put on makeup. Each of Andersen’s webinars is produced using Webinarjam and Everwebinar, which makes production run smoothly. In addition to ease of use and pricing, Webinarjam sends out automated reminders to registrants and maintains their contact information, so Andersen and his team can access it later for follow up.

produce and promote the event

All three agents say they promote their webinars via email and social media. In addition, Andersen shares the information on a local community page on Patch.com and on his Just Listed postcards. He promotes the events exclusively to clients and his sphere of influence because they’re more likely to generate better-qualified leads. There’s no date or time on his webinars, and he avoids details such as prevailing interest rates, which might date the information. This allows for a longer shelf life, he explains. He refers to the notes that accompany his slide presentation, which is adapted from his in-person events, and has never used a script. He concludes each webinar by inviting viewers to call for more information. For newcomers, it’s natural to be hesitant in your delivery, so it’s recommended to practice the presentation or do a rehearsal before going live. Avoid using a script, or the presentation will sound stiff and formal. You want to appear natural, as if you’re having a conversation with your audience. “People don’t care about fancy appearances; they want engagement,” Ryhal says. The Residential Real Estate Council crs.com

measure results

Andersen measures success by how many viewers convert to customers. When someone registers for an event, a team member will contact them using the Webinarjam registration data. “Without proper follow-up, doing webinars does not make sense,” he says. For long-term success, be consistent with producing and promoting your webinar program—this isn’t a one-anddone deal. Look for ways to repurpose the content. Ryhal, for example, converts her webinars into podcast episodes that can be accessed on her website. “There’s no such thing as a onehit webinar wonder,” Ryhal says. While webinars aren’t for everyone, with proper planning and a strategic mindset, they can become a reliable leadgeneration tool for your real estate business. TRS

Market Values

Jan/Feb 2022

Insights from industry data

REAL ESTATE IN A

digital age Source: National Association of REALTORS® Real Estate in a Digital Age Report

Top Lead-Generating Tech Tools

52%

Social media

Customer relationship management (CRM)

31% 28%

MLS site

Email marketing tool

21%

Listing aggregator site

21%

Of the 44% of REALTORS ® who do not currently use drones, 12% plan to start using them. 12% plan to use drones in the future

56% use drones

32% do not use drones/ don't know

16%

Personal blog or business site

10%

20%

30%

40%

50% The Residential Specialist trsmag.com

iStock.com/Creative-Touch, amtitus

19%

Digital ad campaign

Jan/Feb 2022

REALTOR® Websites

41%

45%

10%

24%

No website, but plan to have in the future

21% Website developed and/or maintained by REALTOR®

Website provided by firm

No website

Value of Website Features 9%

iStock.com/Creative-Touch, Elena Shlyapnikova, S-E-R-G-O

89%

Very useful

13% 86%

22% 67%

Photos

Detailed info about properties for sale

Floor plans

The Residential Real Estate Council crs.com

21% 63%

Real estate agent contact information

25% 58%

Virtual tours

Somewhat useful

Younger Boomers and all of those younger place the highest value on photos.

Keeping up with technology is seen as a challenge for 41% of firms.

YEARS Median age of REALTOR® websites.

For more information, access the Real Estate in a Digital Age Report at NAR.realtor.

SPECIALIZED

Jan/Feb 2022

Council Classroom

KNOWLEDGE

Strategies from the industry’s top educators

Your Pricing Proposition By Rich Sands, CRS

W Rich Sands, CRS, is an experienced international presenter, instructor and keynote specialist. As the president of Rich Sands Seminars, he works closely with international real estate franchise systems, independent brokerages and companies in all industries that want to bring out the best in their people. As a NAR/REBAC and Certified CRS instructor, he conducts dozens of courses each year for the National Association of REALTORS® and Residential Real Estate Council.

hen I am working with agents in my class on pricing strategies, Pricing Is Paramount, they get an opportunity to interact with their fellow students in small groups to really get a handle on the nuts and bolts of the pricing process. Controlling that process will determine whether you get that listing. I say to REALTORS® all the time, “I don’t think pulling up comps and developing a price is your problem. I think your problem is selling that price to a seller.” The content in this class breaks down into a few important areas, two of which

are knowing how to read your seller to present a case that will appeal to them, and demonstrating your mastery of the market. A lot of agents struggle with an effective, relevant method to present the state of the market to a seller. Some of this can be laid at the feet of office managers and brokers who take a “this is how we’ve always done it” approach to getting listings. But in today’s world, I don’t think that makes us nearly as effective. If the 1980s were the era of the “me generation,” we have blown way past that in the last decade or so. Today, it’s all

Read more articles and timely advice from Rich Sands, CRS, on his blog at richsands seminars.com.

The Residential Specialist trsmag.com

iStock.com/enisaksoy/LysenkoAlexander

Jan/Feb 2022

about how to serve customers in the age of Amazon. In Ron Willingham’s book, The Inner Game of Selling, he asserted that most people have been taught to sell the way they’re comfortable selling. Instead, he said, people need to learn to sell the way people want to buy. One way to achieve that is to understand buyers’ and sellers’ personalities through the DISC profiles. Getting a grip on these broad personality types can help any agents who are stuck with a one-size-fits-all approach to their pricing. I also emphasize to agents that the more effectively they have positioned themselves as the market expert, the more likely the pricing negotiation is going to go in their favor. Agents need to be able to localize their impression of the

D (director)

market. There are mini markets within the larger market—especially in cities and suburbs—where the mini market is hotter than the market overall, and there are also places where it’s colder. Agents must stop simply accepting the big picture and the big stats. They need to drill the hole deeper—not make it wider. In the end, the pricing decision is not mine, anyway. It’s not my house. It’s not my money. If they don’t like what I say, they can find somebody else, they can do it themselves or they could just say “if you want this listing, we want it priced here.” Pricing is not a decision I get to make as a real estate agent, so the key is to effectively control the process. And that is the big banner that I fly in the class: They make decisions, but I control the process. TRS

THE DISC PROFILES I (influencer) S (supporter) C (contemplator)

“

I say to REALTORS® all the time, ‘I don’t think pulling up comps and developing a price is your problem. I think your problem is selling that price to a seller.’”

—Rich Sands, CRS

This personality is a cut-to-the-chase, let’s-get-it-done person. I have about 10 minutes to go through the market analysis, and at the end of 10 minutes, that D-type will have made their decision and is ready to move on.

An influencer A supporter For the personality tends type is going contemplator to be a chatty type. to be chaltype, I must show It’s going to take me lenging. They how organized three times as long to are steady and I am because go through my plan warm, but they they’re all about because that person don’t like to the data. is going to want to make decisions talk about every single without exterhouse that I have in nal motivation my market analysis. or approval.

The Residential Real Estate Council crs.com

SPECIALIZED

Innovations

Jan/Feb 2022

KNOWLEDGE

Tech solutions for real estate

Tech Tools of the Trade

eal estate is just one of the many industries that has embraced new tools and technology to better serve clients and stay competitive through the pandemic and into the future. Real Estate in a Digital Age, a report compiled by the National Association of REALTORS®, looked at the way technology is being used in the real estate business. It found that despite the

headaches brokerages face in keeping up with all of the new technology, most real estate agents can’t get enough of tech; in fact, most want more of it. Using real estate technology, the topproducing agents, like CRS Designees, can stay on top of what’s going on and stay ahead of the competition. These tools are gaining popularity and will help agents be more successful in 2022.

Despite the headaches WE’VE ROUNDED UP THE TOOLS THAT MAY PROVE TO BE MOST USEFUL FOR OUR MEMBERS: brokerages Save your clients money Finalize the details face in keeping Often, a homebuyer accepts the title Some buyers and sellers have a fair and closer service that the real estate idea about their closing costs. Howup with all of agent recommends. But now, buyers ever, having a closing cost calculator can take matters into their own hands, app on your phone, like Houzeo, is the new techshopping around for the best deal with always a great way to show any ease. According to Inman, real estate changes or fluctuations to that number nology, most agents themselves see tremendous for the client. value in recommending the titlegenius real estate platform to their clients because it saves the customer money and offers agents can’t them choices they may not even know were available. get enough of tech. Dominate bidding wars

iStock.com/Devrimb

Make marketing simple

Video marketing is becoming more essential for REALTORS®. Vuse is an app built for real estate agents to create films for listings, branding and business generation, describing itself as “ridiculously easy content creation for agents.” With Vuse, busy real estate agents can develop branded real estate videos in just minutes, all from their phones.

Having multiple offers on a home before it sells is nothing new in a cutthroat real estate market. Fierce competition amid an extremely low inventory of homes will likely continue into 2022. As an agent, how can you keep up with the pace? You can easily manage offers that come in and keep them all organized in one place with tech solutions like OfferPlace, saving time and stress. With real-time notifications of new offers, agents can tell their clients the moment a new offer comes in, and can easily accept, decline or counter. TRS

The Residential Specialist trsmag.com

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Jan/Feb 2022

Issues of Importance

Highlighting timely industry updates

News S Roundup

tay up to date on the latest news regarding real estate laws, compliance regulations and risk management issues with “Issues of Importance.” We’ve summed up the latest news that can impact your real estate business today.

Medical mandate

As more employees return to the office, employers big and small are grappling with how to best provide a safe work environment. There isn’t a one-size-fits-all

approach—brokerages must determine what makes the most sense for them. The Equal Employment Opportunity Commission has made it clear that employers can mandate COVID-19 vaccinations for employees, with two exceptions: as a reasonable accommodation to employees unable to be vaccinated due to a disability under the Americans with Disabilities Act, and in the case of a sincerely held religious belief or practice under Title VII of the Civil Rights Act. Therefore, before enacting a vaccine mandate, employers must be properly prepared not only to enforce the policy but also to handle employee requests for an exception to the policy. The Residential Specialist trsmag.com

iStock.com/Andrii Zorii/peterschreiber.media/Madmaxer/VioletaStoimenova/Sergei Cherednichenko

Jan/Feb 2022

Multiple offers

It’s been a hot market with presenting and negotiating multiple offers becoming the norm. But this brings the potential for misunderstandings that could lead to complaints and fair housing issues against brokerages. Here are some tips that can help both the seller and buyer understand options and reduce risks for you:

According to real estate investing and news website Millionacres.com,

Discuss the potential for multiple offers at the listing interview. Explain the available options to the seller upfront, and get the seller’s instructions for handling them in advance.

Know your state laws regarding duties owed to clients, time frames for presenting offers and what may be disclosed to the other party.

Promote the interest of your clients while treating all parties fairly and honestly.

Approach “buyer love letters” with caution—these can trigger fair housing violations for both the real estate professional and the seller.

Discuss the pros and cons of escalation clauses or addendums with buyers.

of buyers faced a bidding war in May 2021— up significantly from the

rate seen a year prior.

Auction sales contracts

A legal case pending with the New Jersey Supreme Court has garnered more attention from the real estate industry on

auction sales contracts and whether real estate auction sales are final or should contain a three-day attorney review provision like other sales contracts. A few of the takeaways from this case are: � A real estate auction sale may not be subject to the same state laws and rules that apply to traditional real estate sales agreements. � A liquidated damages clause is enforceable where its terms are reasonable, in light of anticipated or actual losses. � A court may not deem a contract to be legally impossible solely due to a party’s personal inability to meet the terms of the agreement. TRS

The Residential Real Estate Council crs.com SOURCE: NAR.realtor/legal

For more updates on legal topics that impact your business, visit NAR.realtor/legal.

DESIGNATION

NATION

Your Own Council

Jan/Feb 2022

News and updates

Success is Calling at Sell-a-bration ®

2022

Register today at crs.com/sell-abration, and use code SABSOCIAL for 10% off—a deal only found in The Residential Specialist magazine.

WIN with the Council’s Education Subscription

he Council has launched a new subscription option for REALTORS® who want to benefit from our premier education by paying a small monthly fee. Education available through this $19.99/ month subscription service includes: f A complimentary live webinar each month on topics that are catered to our members. Each webinar comes with access to the on-demand recording of the live session. f Access to cutting-edge marketing tools and templates that help you create

a winning plan for success, not only for today, but in the future, as well. f Resources, news and trending topics, including access to a digital subscription of The Residential Specialist magazine, a leading publication for real estate news. As an RRC member, share this option with new real estate agents who want to have a thriving career and need the knowledge and training to help make that dream possible. Visit CRS.com/win for more information. The Residential Specialist trsmag.com

iStock.com/pondsaksit/ymgerman/DrAfter123

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Jan/Feb 2022

Get More Referrals with Find a CRS Could your business use more referrals? If so, the tool to take you there is Find a CRS. On Find a CRS online or with the app, CRS Designees can now make endorsements, showcase their specific skills, have badges that reward certain involvement at RRC and even make videos to increase the chances of being sent a referral. Don’t miss another referral opportunity— stay active on Find a CRS!

“I went to Find a CRS, saw Judy’s information and dialed. She picked up almost immediately! Today, we received the clear to close—thanks to an amazing and kind CRS in Joplin, Missouri.” Holli Woodward, CRS

RENEW WITH RRC, AND TAKE ADVANTAGE OF THE WEBINAR BUNDLE It’s not too late to get 100-plus webinars for just $199—a year’s worth of education for one low price. With the webinar bundle, available as an option when renewing your membership, you can register and listen at your convenience. Feb. 28 is the end of the grace period for membership renewals. Members must renew to take advantage of this deal that can save you over $500! If you've already renewed and would like to still take advantage of the deal, use code 199PD.

The Residential Real Estate Council crs.com

“We can now post videos! If you haven’t taken advantage of that feature, it’s a great opportunity to introduce yourself to potential referring agents. Check it out next time you update your profile.” Addie Owens, CRS

DESIGNATION

NATION

Jan/Feb 2022

Ask a CRS

How are you working a market with multiple offers on the same property?

Advice from your peers

On Oahu, we have been competing with 20–30 offers on every property. We are offering over list price with an appraisal clause; waiving some contingencies, like cleaning; survey (in newer projects); offering to pay for termite inspection and being flexible on timing. Talk to the listing agent, and ask what the sellers’ needs are. Joni Ann Shiraishi, CRS, Alhoa Island Homes, Waialua, Hawaii

I have been advising buyers with less than 20% down to wait until the market calms down. Like any other market, this won’t last forever. Mary Alice Beevore, CRS, RE/MAX Advantage Plus, Minneapolis, Minnesota

Gay Ashley, CRS, Ashley Realty Group, Fairfax, Virginia

Very strong deposits, a short inspection period and sometimes waiving the appraisal. Have a great story to share? Email social@crs.com or look for discussions happening online on our Facebook, Instagram, LinkedIn and Twitter pages.

Bonnie Metviner, CRS, Coldwell Banker Heron Bay, Carol Springs, Florida

Michele Ragan, CRS, NextHome Signature Real Estate, Omaha, Nebraska

Pay the sellers’ costs, and instead of upping the price, agree to pay all commissions. It’s usually the same when the buyer goes up $10k–$20k over asking price. Connie Hamilton, CRS, RE/MAX First, Edmond, Oklahoma

My very first mentor in real estate looked at me one day and said, “Stop creating urgency.” Great advice. Buyers are being successful—present your best offer first, then move on if rejected. There is always another house, and we can keep our clients calm. Donna Goings, CRS, Donna Goings Real Estate LLC, Charlottesville, Virginia The Residential Specialist trsmag.com

iStock.com/filipfoto/akindo/shironosov/Alexey Yakovenko

Cash is king. When not possible, flexibility and waiving of most contingencies is the norm now. Good luck to us all!

I’ve been having the lender call after I’ve sent the offer. It’s a step further in knowing they have done more with the lender than just get a piece of paper for prequalification. They understand what it costs to get them into the house, and the lender has already checked credit and reviewed their files.

Jan/Feb 2022

World-Class Education The Residential Real Estate Council offers life cycle, agent-to-agent learning, spanning the career of the residential real estate agent. The Council’s education is recognized as the best in the industry and includes live classroom courses, self-paced eLearning, live and on-demand webinars, videos and articles.

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Check out all of the RRC learning opportunities at CRS.com/learn.

DESIGNATION

RRC Connect

Jan/Feb 2022

NATION

Expand your network

CONNECTION PERFECTION

Service for Those Who Serve

s a veteran, military and Department of Defense clients are particularly special to me, and I make sure they’re in the best hands. Even though they’re well-practiced at moving, it’s tough to keep putting down roots in new communities, so I make sure they’re referred to agents who understand their needs. I met Phil and Bethany in 2015 when they moved from a base in Japan to work at Pearl Harbor, Hawaii. I helped them buy a home nearby. Then when they moved from Hawaii in 2018, my business partner helped them sell the Hawaii home since I had relocated back to Maryland.

I connected them with a REALTOR® at their next duty station, Ft. Leavenworth, Kansas, to purchase their next home. After Kansas, they moved to Ft. Drum, New York, where they lived on-base. We kept in touch over the years, and Bethany reached out for advice again this year when they moved to Minot Air Force Base, North Dakota. This time I referred her to Cindy Harvey, CRS, who helped them buy a home in Minot. She kept me informed along the way, and Bethany gave her rave reviews after the transaction was complete. I love having this CRS network to rely on! TRS Alison Wisnom, CRS, Coldwell Banker Realty, Annapolis, Maryland

North Dakota

Cindy Harvey, CRS

Maryland

Alison Wisnom, CRS

The Residential Specialist trsmag.com

Jan/Feb 2022

SOUTH

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

DESIGNATION

Jan/Feb 2022

Balancing Act

NATION

Practical strategies for restoring balance

Are You Taking On Too Much? 3 less

It also takes these agents

29%

more time to sell these listings than agents who take on an inventory of fewer listings (between two and seven). Source: Journal of Housing Economics

s the pandemic has forced many into remote work, feelings of being overworked and burned out are at an all-time high. The lines between work and home life are more blurred now than ever before. Feeling emotionally exhausted and dissatisfied with your job, having a hard time concentrating and poor work performance are all signs of burnout. A study done by the Journal of Housing Economics has looked at how overworking is affecting brokers and real estate agents. It found that agents who take on 15 or more listings end up selling them for 3% less. It also takes these agents 29% more time to sell these listings than agents who take on between two and seven listings. Establishing a healthy work/life balance is essential not only for your efficiency, but also for your overall health and well-being. Ask yourself: Are you taking on too much?

Set professional boundaries, and stick to them

Learn how to say no, and stop allowing yourself to be glued to your work email and projects 24/7. Decline meeting invitations during your dedicated lunch or rest break. If you are asked to take on extra work, seriously consider if that work will help you reach your own personal goals. If it will not benefit you, respectfully turn the work down.

Have a conversation with your boss

Talking to your superior in the workplace can be a daunting task, but it may be necessary. When you have too much on your plate, none of the work can be done to the best of your abilities. Don’t just approach your boss with complaints, rather be prepared with some constructive feedback and possible solutions. Be sure to underscore that this conversation is happening because you are dedicated to producing quality work.

Separate your workspace

If your job is remote, you may be forced to work in the same spaces where you sleep and eat. If you can, create separation between your “office” and personal space at home. If you can’t move to a separate room with a door, perhaps try setting up a curtain or partition to break up a single room.

Schedule your non-work activities and down time

Build breaks into your work schedule and don’t skip them. Be intentional about taking time off. Add rest and self-care time to your calendar or agenda, as you do any other meeting or to-do. Spending more time away from work and with your family and friends will do a lot for your spirit and morale. You won’t be as drained when it’s time to get back to work.

Communicate with your team

Let the people you work with know what time you plan on logging off every day. When you are taking time off, be clear about whether you will be reachable via email or phone call. If you only want to be contacted in case of an emergency, define what you understand an appropriate emergency to be. TRS The Residential Specialist trsmag.com

iStock.com/LuisPortugal

Agents who take on 15 or more listings end up selling them for % .

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