The Residential Specialist, September/October 2021 by The Residential Specialist

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

SEPT/OCT 2021

A NATURAL FIND

NICHE

Look to your strengths to organically find your niche

KET

Guest editor Jen Ward, CRS, discusses niche markets 5 Follow your passion niche 18 CRSs’ unique niches 22 Shared amenity ranches 26

CRS-060

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Sept/Oct 2021 Vol. 20, No. 5 Cover art:  iStock.com/DoroO/ ChiccoDodiFC

NICHE

18 22 26 30

KET

Pages 18, 22 and 26 are niche articles

FEATURES 18 Grow Organically: A niche market can do wonders for an agent's bottom line. Being able to find the niche that speaks to you can make work more enjoyable. By Andrew Conner

22 Be Focused: CRSs are operating in numerous niches across the country. These unique niche examples can help as you establish your own. By Donna Shryer

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26 Seeking Greener Pastures: A burgeoning market in the western U.S., shared ranches are a great option for buyers who are looking to settle down. By Megan Kramer

30 Oh No...No!: Buyer's remorse can hit any client at any time—and agents need to be prepared to help reconcile these feelings and doubts. By Michelle Huffman

7 2

Sept/Oct 2021

CONTENTS

Vol. 20, No. 5

4 Aerial View

Alex Milshteyn, CRS

5 Guest Editor: Jen Ward, CRS, shares her thoughts on niche markets.

niche article

6 Digital Channel: Online classes, tools and resources available from RRC.

Market Pulse

ersonal Perspective: James E. Martin, P CRS, Dave Perry-Miller Real Estate, Dallas, Texas

10 G oing the Distance: Due to low inventories, buyers are looking at previously less-desirable neighborhoods. By Chasity Cooper

13 Booster Shots: Maintaining high agent morale is key for success in this tumultuous market. By Regina Ludes

16 A t This Stage: RRC's new mentorship program brings together agents from every stage of their careers. 34 Market Values Insights from industry data.

Specialized Knowledge 36 C ouncil Classroom: Learn how to become an expert real estate investor. 38 I nnovations: Agents need to understand the importance of data security as technology becomes more present in our lives.

Designation Nation 42 Your Own Council: RRC news and updates. 44 A sk a CRS: Advice from the country’s top agents. 46 RRC Connect: Expand your network. 48 B alancing Act: Tips for how to stay motivated this winter.

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 Andrew Conner Chasity Cooper Michelle Huffman Megan Kramer Regina Ludes Donna Shryer

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 pub2021 BOARD OF lished bimonthly by the Residential DIRECTORS Real Estate Council, 430 North President Michigan Ave., Suite 300, Chicago, Alex Milshteyn, CRS IL 60611-4092. Periodicals postage paid at Chicago, IL, and President-Elect additional mailing offices.

Holli Woodward, CRS First Vice President Pam Ruggeroli, CRS Immediate Past President Richard Waystack, CRS Members Kim Cameron, CRS Sandy McRae, CRS Bruce Myers Greg Waldhour, CRS John Young, CRS Chief Executive Officer Lana Vukovljak Staff Liaison Patricia Stodolny

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 address changes to: PUBLICATION The Residential Specialist, MANAGEMENT c/o Residential Real Estate Council, 430 North Michigan Ave., 4 th Floor, Chicago, IL 60611-4092.

crs.com

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Scan this code with your phone’s camera to get started. RocketPro.com/RealEstate Overnight Underwrite Verified Approval program is based on an underwriter’s comprehensive analysis of a client’s qualifying information. Client must submit all required/requested loan information by 7:00 p.m. in the client's local time. Failure to qualify for the loan for any reason will automatically terminate participation in the offer. This offer does not apply to new purchase loans submitted to Quicken Loans through a mortgage broker. Client will receive a Verified Approval Letter (VAL) by 9:00 a.m. in the client's local time the next business day. Offer excludes Rocket Pro TPO loans, Charles Schwab products, relocation products, jumbo products and loans for self-employed applicants. Offer expires April 5, 2022. Additional conditions or exclusions may apply. Offer is nontransferable. Offer may not be redeemed for cash or credit. Offer cannot be retroactively applied to previously closed loans or loans already in process. Quicken Loans reserves the right to cancel or modify this offer at any time. Offer may not be used with any other discounts or promotions. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Quicken Loans. This is not a commitment to lend. Additional restrictions/conditions may apply. 2 Your client’s participation in the Verified Approval program is based on an underwriter’s comprehensive analysis of their credit, income, employment status, debt, property, insurance, appraisal and a satisfactory title report/search. If new information materially changes the underwriting decision resulting in a denial of the credit request, if the loan fails to close for a reason outside of Quicken Loans’control, or if the client no longer wants to proceed with the loan, their participation in the program will be discontinued. If the client’s eligibility in the program does not change and their mortgage loan does not close, they will receive $1,000.This offer does not apply to new purchase loans submitted to Quicken Loans through a mortgage broker. Quicken Loans reserves the right to cancel this offer at any time.This offer is not valid on jumbo loans or for self-employed clients. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Quicken Loans. This is not a commitment to lend. Additional conditions or exclusions may apply. Quicken Loans, LLC; NMLS #3030; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Quicken Loans, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Licensed Mortgage Banker – NYS Banking Dept.; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply. ©2000 – 2021 Quicken Loans, LLC. All rights reserved. Lending services provided by Quicken Loans, LLC, a subsidiary of Rocket Companies, Inc. (NYSE: RKT) "Quicken Loans" is a registered service mark of Intuit Inc., used under license. Quicken Loans, 1050 Woodward Ave., Detroit, MI 48226-1906 1

Sept/Oct 2021

Aerial View

From the desk of Alex Milshteyn, CRS, 2021 RRC President

The True Value of CRS

“

Our members are the real driving force behind the growth we see each year.”

day of that week. The topics are always current, so you know you’ll be getting the most up-to-date information on what’s happening in the residential real estate world. Then, groups across the country will be hosting events focusing on education, networking and even happy hours throughout the week. The goal is for members to go to social media or office meetings and talk about how important and valuable CRS Week and the designation are, prompting people who don’t have their CRS Designation to learn more. It’s our big push to not only engage our current members, but also to promote the designation to future new members. Our members are the real driving force behind the growth we see each year. Talking to peers about why the designation is a valuable asset to you helps expand membership and allows RRC to provide the outstanding assortment of resources to our agents—from our incredible referral network (Find A CRS) to topical and beneficial education opportunities, to discounts on useful products and services that every agent needs to be successful. In addition to those member perks, there are, of course, financial benefits of achieving the designation. Personally, my RRC membership and my CRS Designation brings in close to $50,000– $75,000 in business that I wouldn’t have otherwise had. The value of becoming a CRS is obvious. Don’t be afraid to share how the CRS Designation has impacted your career for the better. Photo: Scott Stewart

learned of the CRS Designation in 2000 from a mentor I had early in my career. She was just finishing the coursework to become a CRS herself, and she always said, “This is the most prestigious designation for residential real estate agents and has the best education that you can find anywhere in the country.” I looked at it and thought to myself, “You know, I do want to achieve CRS Designation at some point in my career.” But at the same time, I didn’t know what to expect. However, the more I learned about the CRS Designation and the more people I met outside my real estate market who had the designation, the more I realized I needed to earn it. When I did achieve the designation in 2012, I realized the work required to become a CRS afforded me many opportunities to meet and learn from other colleagues, so the work was not too taxing after all. Bringing awareness to the CRS Designation and the RRC is important, which is why we’re celebrating CRS Week from Sept. 20–24. Both at the grassroots and national level, RRC networks will host various events to promote the designation. Nationally, RRC will have an educational one-hour webinar every

The Residential Specialist trsmag.com

NICHE

M AR KETS

Jen Ward, CRS

Sept/Oct 2021

Thoughts on this issue's theme

Guest Editor

Power of the Niche I am an explorer by nature. I love trying new things: restaurants, food, travel destinations and more. I’ll try anything once and if I really enjoy it, I’ll do it again. My dad noticed my meandering ways and used to tell me that I needed to choose a focus. He would say, “Jack of all trades, master of none.” My dad, a mechanical engineer, knew the power of focus within a very specific field. He had patents on more than a dozen inventions and people hired him to solve their problems even after his “retirement.” There is proven success in having a specialty or niche. I’ve observed that agents who specialized and developed a niche were particularly successful. If you asked your manager or broker a question, they would sometimes recommend you speak with Agent X who has a deep knowledge of a specific topic. These days, real estate Facebook groups are popular forums to ask questions. Have you noticed in this seller’s market that you are reaching out to agents who are known to work a specific neighborhood or type of housing in your city to find a home for your buyer, or that you are receiving those calls from buyer agents? This is the power of the niche. It seems like agents with a niche are overnight successes, but they worked on developing that expertise and the messaging for that market over time. Take a moment and reflect

The Residential Real Estate Council crs.com

on the business you have: “Who am I, and what kind of business do I attract? What is the source of my business? What gets me excited?” Wouldn’t it be great to develop a niche that you are passionate about and brings you absolute joy? I’ve attended various educational events with RRC, from webinars to Sell-a-bration®, where I have learned from people who have cultivated a specialty. Some have followed a passion for historic homes or new construction, some have determined a personality type or avatar like engineer or executive and some enjoy working with millennials while others prefer seniors. I’ve learned that some have developed their business strategically while others have come to their niche organically. Have you developed a niche, and are you looking to network with other professionals with your niche? Reach out to the network of over 28,000 CRS Designees at the Residential Real Estate Council, plan for the next RRC event, and elevate your networking by seeking your niche of people. TRS

“

I’ve observed that agents who specialized and developed a niche were particularly successful.”

Sept/Oct 2021

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.

Digital Channel

Online resources for RRC members

What’s New With Find a CRS?

RC has made some exciting enhancements to Find a CRS, the online referral tool and member directory. Visit find.crs.com or the mobile app to experience these new features, including:

1 New Community Pages: Participate

in the conversation in communities grouped by state/ region, and join a national community where you can share updates, ask for referrals, network and share your listings.

2 New and Improved In-App Communications:

Think of Find a CRS as your one place for all messages and referrals—now with a more streamlined experience. Chat with agents directly through the app, get notifications on your community posts and more. Our primary objective is to continually improve the end-user experience, and enhancing Find a CRS was a memberinclusive project. The goal of these enhancements is to create a greater sense of community among our members. Think of this like Facebook—but better—for CRSs! With communities grouped by state/ region, and an overall national community, you can share updates, ask for referrals, share your listings and get that much closer with some of the best agents in the business.

The Residential Specialist trsmag.com

Sept/Oct 2021 2021 Sept/Oct

PERSONAL PERSPECTIVE James E. Martin, CRS, poses with his mother, Eloise. Martin is a third-generation real estate professional—on both sides of his family.

PAGE 8

Market Pulse TRENDING HEADLINES AND IDEAS AGENT MORALE

AT THIS STAGE

Buyers are expanding their search areas when looking for properties.

Ensuring your employees are happy and satisfied contributes to the success of your business.

RRC's new mentorship program allows agents both new and seasoned to connect.

PAGE 10

PAGE 13

PAGE 16

REVIVAL COMMUNITIES

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MARKET PULSE

Sept/Oct 2021

Personal Perspective

Profiles of people to watch

James E. Martin, CRS Dave Perry-Miller Real Estate, Dallas, Texas How did you become involved in real estate?

 James E. Martin, CRS, is a third-generation agent. Pictured above are his mother's parents— Ellene and Eric Eriksson. Eric Eriksson was the 1976 president of the Home & Apartment Builders Association of Metropolitan Dallas.

James E. Martin, CRS, achieved the CRS Designation in 2017. He can be reached at jamesmartin@ daveperrymiller.com or 214-770-0781.

It’s kind of a funny story, but really in some ways I was born into it. I am a third-generation REALTOR® on both sides of my family. My mother, Eloise, is a REALTOR® and my father, Jim, has his broker’s license and was licensed in four states. He was a home builder in Dallas while I was growing up. I can remember going to commercial sites where my dad was building and riding my skateboard around, and my mom going to open houses and listing appointments. My first broker was actually my mother’s father, who was president of the Home & Apartment Builders Association in Dallas in 1975–76. My grandfather on my father’s side was one of the first brokers licensed in the state of Oklahoma. I might have tried to push away from it in my youth, but it’s

provided my family with so much through the years. I built single family homes for 10 years, then I got my license about 14 years ago, and I’ve been on the sales side ever since.

Were there any special strategies that you have used in your market because of last year’s pandemic?

Our team and I were able to improve how we work with clients relocating to Texas from other states when they can’t travel or see a home in person. We’ve been utilizing technology, like 3D cameras and FaceTime, so we can be the buyer’s eyes on the ground. Those were skills that maybe were a little underdeveloped for us at the time. In the beginning of the pandemic, I began putting together presentations and packets for these clients to be able to make their buying decisions, knowing

that as soon as the travel ban was lifted, their new company was expecting them to start. In 2020 I had three families that were relocating, and the first time they saw the home they had bought was the day we closed. Luckily, all of them love their homes.

What sorts of marketing do you use in your business?

My mother and I are blessed to have a book of business with referrals from past clients, and we also rely on networking through organizations like RRC. I like being involved as a volunteer and as a leader. We’re networking with other agents so they can get to know us. And just like everyone, we use social media. We try to make sure that our profiles are up to date on RRC, NAR® or REALTOR.com— any place that we can be found. You need to have clear contact information, directing them back to your website, and you have to stay active and create new content. It can be a struggle, but there

are a number of resources out there, such as the blogs that the Council puts out and content from NAR®, so there’s a news feed that we’re not having to develop all on our own.

Are you involved with any RRC activities or activities in your community?

Absolutely. At the state level, I am the Texas membership chair this year for RRC, and last year I was the education chair. In 2017, I was president of the Dallas area’s MetroTex association for its centennial year. So, being involved on the national level on committees and on the state level serving on Budget and Finance Committee for the state— that’s my way of volunteering and giving back to the association and the industry that’s provided me so much. Plus, I enjoy running, so anytime there’s an opportunity or a race that I can be a part of—like Easter Seals, the Leukemia Foundation or Susan G. Komen—I love participating in those as well. TRS

The Residential Specialist trsmag.com

MARKET PULSE

Revival Communities

Sept/Oct 2021

Expanding the search

Going the Distance By Chasity Cooper

s we continue to navigate our new normal beyond a global pandemic, potential homebuyers are still eager to purchase properties—even if it isn’t in their ideal location. While last year’s market boom was tied to the desire for space due to shelter-in-place restrictions, the interest in real estate continues to skyrocket as inventory remains low nationwide. According to Zillow, home values in the United States have increased 13.2% over the past year, with the potential to rise 14.9% in the next year.

Currently, buyers are eyeing properties in traditionally less-desired neighborhoods, with sellers maintaining the upper hand. Known as revival communities, these areas have historically been overlooked by homebuyers in cities like Detroit, Pittsburgh and Columbus, Ohio. Now, REALTORS® are finding that properties in these areas are not only fiercely competitive, but the competition can come with a cost.

Demand is high

Vicki Workman, CRS, is a REALTOR® based in Columbus, Ohio, and in addition to helping her clients find their dream homes, she is currently rehabbing her father’s home to eventually put on the market. “Two years ago, in a neighborhood like his (which is on the outskirts of Columbus) you could hardly give the houses away,” she says. “The value then was around $100,000, and now homes in this area are selling for $175,000. Every other house on the block is getting fixed up and looking nice.” Workman says that as the value of the area continues to dramatically increase, inventory remains scarce—even as far out as 40 miles from major city centers. The Residential Specialist trsmag.com

iStock.com/smartboy10/dk_photos/Catur Nurhadi

Sept/Oct 2021

And for the homes that do become available, they aren’t on the market for very long. “One strategy that I’ve encouraged for my home sellers is posting a ‘coming soon’ listing for three or four days before we go to market,” she says. “We go to market, say on a Friday evening, and we stop showing on Monday at noon— wanting our best and highest offer by Tuesday at noon—and it works. I’ve seen up to 12 offers on one listing using that strategy, and up to 30 showings within that short time frame.” To win the competition, some buyers are offering to pay sellers’ closing costs or waive inspections altogether—which she does not recommend. “Competition among potential buyers is making neighborhood revitalization more common, but I do my best to remind my clients to be realistic,” Workman says. “I’ve had buyers express concern that their homes may not be worth as much five or ten years down the line, and I have to be honest with them. The market changes so much and so quickly, so you have to be prepared.”

The pros and cons

To meet the demand, traditionally lessdesirable neighborhoods are doing their best to attract a wide demographic of homebuyers. From young couples and families to investors, revival communities are improving their infrastructure and bringing in new business. The Residential Real Estate Council crs.com

Mark Handlovitch, CRS, a REALTOR® based in Pittsburgh, says while revival community members are taking steps to invest in their areas, there are pros and cons to the influx of popularity to these areas. “In addition to buying a house at a reasonable price, the pro for the people who own in a revival community is that their home values are going up in a steady fashion,” says Handlovitch. “The con, however, is that those generations of people who might have raised their children in that same community might not be able to afford that.” The COVID-19 pandemic has undoubtedly created a market that gives the seller the ultimate advantage. And with the government canceling foreclosures, there hasn’t been an opportunity for the market to reset itself. “Foreclosures are a natural occurrence in the marketplace, so when [the moratorium is] removed, a lot of inventory that would naturally hit the market leaves with it,” Handlovitch says. “The removal of that whole segment has driven prices and demand, which has attributed to our current situation.” Handlovitch encourages his clients not to sell their homes only to resell them, but to navigate the market with intention. “I’ve seen people who are buying homes and they feel like they have to buy, and I keep telling them: If you don’t have to get into this market, take a step back,” he says. “I think that potential buyers need to evaluate their situation and understand that the market will level out eventually, once there is enough inventory.” With the market currently unpredictable, it’s not uncommon for people to be a little hesitant and wonder if history might repeat itself. But in the meantime, it’s important for REALTORS® to help their clients make the best decision for their future. TRS

“

I think that potential buyers need to evaluate their situation and understand that the market will level out eventually, once there is enough inventory.” —Mark Handlovitch, CRS

There are government programs to boost home sales in revitalized areas. Check out hud.gov for more information.

MARKET PULSE

Sept/Oct 2021

MARKET MOMENT

Clients Are Going Green Environmentalism is a topic more and more Americans are becoming interested in. It’s not enough now to just say that you want to help preserve the environment—actions are speaking louder than words. This activism has extended to the world of real estate, as homebuyers are gravitating toward environmentally friendly property features. And, as always, agents are there to help clients find these homes. According to the 2021 REALTORS® and Sustainability Report from NAR®, 32% of REALTORS® said they had been directly involved with buying or selling a property that had green or eco-friendly features in the past 12 months. Some features that clients are looking for are energy-efficient doors, windows and siding, and properties that include solar panels for generating sustainable energy. To read the full report and learn what’s working for agents regarding green home features, visit nar.realtor/research-and-statistics.

HERE ARE A FEW OTHER HIGHLIGHTS FROM THE REPORT Value of Energy Efficiency Promotion

MLS Green Data Fields

46%

30 %

10 0

7 Very valuable

36%

Somewhat valuable

Neutral

Not very valuable

Not at all valuable

Depends on the listing

10%

10 0

MLS has green data fields

MLS does not have green data fields

Don't know

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iStock.com/William_Potter/mangsaab

54%

Agent Morale

Motivating your staff

Sept/Oct 2021

Booster Shots By Regina Ludes

iStock.com/Cecilie_Arcurs/Moto-rama

or many brokers starting their businesses, their primary focuses are building a client list and marketing homes. Most never consider the possibility that they’d have to deal with agent morale problems. When managing a team of agents of various skill levels, personalities and in separate locations, low motivation can strike at any time. Low morale can be attributed to numerous factors, including job boredom, a feeling of isolation from coworkers or a lack of confidence in their abilities. Most brokers have relied on experience and instincts to resolve these issues. These brokers have learned that by listening and engaging with their team consistently and honestly—and helping agents engage with each other—they can build a loyal, high-performing team for the long term.

The Residential Real Estate Council crs.com

Honor your agents

In a recent Gallup study, employees cited personal time spent with their manager as the most rewarding and motivational experience at work, far more than monetary rewards. Further, the study revealed that consistent employee engagement can improve business dividends, too, such as 81% lower absenteeism, 18% higher sales and 23% higher profitability. That personal time can encourage loyalty, as well. “It’s important to honor your agents,” says Rita Tayenaka, CRS, broker-owner with Coast to Canyon Real Estate in Mission Viejo, California. “I want my agents to feel that I care that they’re on my team.” A broker since 2007, Tayenaka routinely checks in with each of her 11 team members. Without a physical office, each agent works from home, relying on Zoom

Consistent employee engagement can improve business dividends too, such as

81 % 18 % 23 %

lower absenteeism,

higher sales and

higher profitability.

MARKET PULSE

Agent Morale

Sept/Oct 2021

Motivating your staff

“

Physical engagement is more effective than a pat on the back.” —Rita Tayenaka, CRS

Provide support and encouragement through training and resources that can help agents succeed in their roles.

Recognize agents’ contributions. Make sure they feel valued so they remain loyal and engaged with your company’s mission.

Monitor agents’ wellbeing. Notice any behavioral patterns that could derail your team’s performance.

Encourage a healthy work-life balance. Demonstrate balance by setting an example. Take personal time off and don't work late. Your agents will follow your lead.

Source: TinyPulse, The 2019 Employee Engagement Report

meetings, phone calls and emails for connection with other agents. They rarely spend time together except for when they meet in Tayenaka’s home for training. Concerned that the lack of personal contact among team members could harm business, Tayenaka organized an overnight trip to La Jolla to unwind and reconnect. The staff loved it so much, they requested more social events outside of the office. Tayenaka has since planned outings every other month, including cooking classes, flower arranging workshops and orange picking to benefit a local food pantry. Most recently, a day-long boat trip to a nearby island allowed agents to swap stories and vent frustrations over lost sales and difficult clients. Because these events aren’t cheap, Tayenaka makes sure to budget for them. But they are worth the cost because they have helped bring her team closer together. “Rewards mean nothing,” she says. “Physical engagement is more effective than a pat on the back.”

Let agents lead

For more information about Broker Solutions, visit the RRC website at CRS.com/ broker-solutions.

With 43 agents on her team, Holli Woodward, CRS, broker-manager for McGraw Realtors in Tulsa, Oklahoma, recognized the need for an outlet for her team separate from the monthly sales and education meetings they’re required to attend. She began holding one-hour meetups at a

local coffee shop to allow agents a casual place to connect with each other. During these sessions, held the first Wednesday of every month in the morning to allow for agents with children to attend, Woodward sits back, observes and listens. She lets the agents have the stage, and they share insights with each other about what they see in the field, what’s working for them and what isn’t. “It’s come as you are,” Woodward explains. “There are no expectations of what they have to contribute, which is why they contribute so much.” While the exchanges are meant to be casual, they have generated ideas for improving processes. For example, when one associate shared how they had revised language in a contract to get it accepted after several failed attempts, other associates adopted this approach. Woodward noticed a higher acceptance rate of contracts as a result. The sessions have energized Woodward as much as her associates. “Sometimes you have to take a step back and stop being a broker,” says Woodward, who also hosts a monthly birthday lunch. “Because they’re running the show, they have more energy and excitement, and that energizes me.”

Broker Solutions

Most brokers entering the business have few places to go to guide them about human The Residential Specialist trsmag.com

iStock.com/Moto-rama

4 Ways to Create a High-Performing Team

Sept/Oct 2021

resources matters, such as agent motivation or career planning. A new platform from RRC, called Broker Solutions, now offers agent career planning and human resource consulting services to independent brokers. It was created under the premise that broker-owners should have access to the same tools and resources as major franchises. “Broker Solutions is designed to improve not only an owner’s business, but help them grow as a CEO,” says Lisa Marshall, RRC’s chief marketing officer. Since its launch last spring, in-house consultants have helped resolve HR matters that brokers aren’t able to address

effectively on their own. Solutions are customized based on individual brokerage needs, covering everything from talent acquisition and training to leadership development and employee relations. “We have seen broker-owners grow their teams with our support and recruitment techniques, and we have helped them bring new policies and procedures to their businesses to foster growth and development,” Marshall adds. As for agent motivation, Marshall says the solution starts with the broker. “When a broker develops as a great leader, they can develop great agents.” TRS

MARKET MOMENT

Why Buyers Shouldn’t Skip The Home Inspection Many buyers in today’s red-hot real estate markets are tempted to forgo a home inspection. An otherwise strong offer may not even be considered if it has contingencies for the inspection or appraisal, for example. Yet there are several reasons why a home inspection should be a necessity even if it isn’t part of the sales contract.

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1. The home inspection allows the potential buyer to learn about any major defects or damage that will need to be addressed. Things like a new roof or repairing a foundation are costly and will need to be budgeted for, on top of all the usual costs of home ownership like property taxes, mortgage payments, insurance and regular maintenance. 2. The home inspection can reveal potentially dangerous conditions. The electrical system may be outdated or have faulty and unsafe wiring. The panel could be undersized and unable to meet a modern household’s needs. There could be safety issues with the furnace or fireplace that need to be addressed. If the buyer is unaware of existing conditions, it can put them in harm’s way. The Residential Real Estate Council crs.com

3. A home inspection is also the best way for a buyer to get to know the condition of the home in general. Is the attic adequately insulated? Is the water heater on its last legs? Is that water stain caused by an active leak, or is it not really a concern? These are just a few more examples of how buyers can benefit from having the home professionally inspected. In short, the buyer needs to know what they’re buying. Whether or not it’s part of the transaction process or takes place after closing, a home inspection is in the buyer’s best interest and is key to their peace of mind. TRS

This article was provided by Pillar To Post Home Inspectors. For more information, go to pillartopost.com.

MARKET PULSE

Sept/Oct 2021

At This Stage

Business solutions for CRSs at all stages of their careers

It Works at Every Stage

hether you are a veteran agent or new to the industry, there is one surefire way to propel yourself to further success: finding a mentor. Many people think having a mentor is for the inexperienced professional. But in fact, you can be mentored on a variety of specialties, niches or aspects of real estate that do not indicate you are unaccomplished—rather, you just want to perfect a certain area of your business and learn from someone who has done it before.

By aligning yourself with someone who has already realized the success you hope to have one day, you will be more likely to achieve your goals. After all, what is a mentor if not someone who can inspire, encourage and show you the best way to get things done? The Council launched a new mentor program, and so far over 100 members have signed up to build new connections. Connect on RRC’s new Mentor Board today! TRS The Residential Specialist trsmag.com

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Sept/Oct 2021

WAITING FOR CONNECTIONS RRC members are active on the new Mentor Board both looking for assistance and wanting to provide help to our community. Here are a few examples:

Sample specialties Vacation homes Luxury homes Conflict resolution Relocation

MENTEES Help me get organized, help me focus on juggling tasks and coming up with a good system.

I am a small, independent brokerage with two agents and have never worked at a large brokerage, so I’m interested in ideas on better practices and expanding services.

Golf course communities Condos Business planning Home staging Customer success First-time homebuyers

Seeking mentor for mutually beneficial relationship for the purpose of sharing successes, failures and strategies for improving as a REALTOR®.

Looking for help in becoming a managing broker.

Working with seniors Leadership New home sales Marketing Technology

MENTORS

I have 3 decades of experience to share with someone.

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I would love to mentor someone who is teachable, humble and ready to apply what they are learning.

I can help answer and assist in brokerage questions.

I can teach you how to develop and maintain repeat business.

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Details about the Council’s Mentor Program can be found at CRS.com/ membership/ mentor-program.

Sept/Oct 2021

O G

GUEST EDITOR: Jen Ward, CRS

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Are you looking for a niche? It already resides within you. As you identify your passions, educate yourself and stay connected with your network, your niche will be revealed. In the movie “Field of Dreams,” we learned that “if you build it, they will come.” The Residential Specialist trsmag.com

It helps establish expertise and can provide access to a new market full of potential clients. However, finding success within a niche isn’t a simple task. For agents successful in a particular niche, they explain the key is to find something you are already passionate about or engaged in, and use that as your guide. “When you’re thinking about a niche, I think there are two ways to look at it: product and people,” says Jean Groesbeck, CRS, managing broker at The Groesbeck Group in the Pacific Northwest. Groesbeck explains that she has two niches that she works in: luxury homes and dog lovers. “I am a boater and have a lot of friends who share the hobby, and they started asking me for help with real estate needs. Since boats tend to be more expensive toys, these clients were more affluent, and that is how I wound up in luxury listings.” Similarly, her other niche of dog lovers came organically: “I'm an avid dog and animal lover, and I am naturally attracted to people who have that same passion. I do dog agility sports and therapy work with dogs,” she explains. “In those situations, I end up meeting more dog people, and I add value as an agent because of my experience with dogs. If I look at a house, it’s instinctual for me to look and think what kind of house this is for a dog. For example, is there a great level lawn for agility training?” To find similar niches for yourself, Groesbeck encourages reviewing your enjoyable and successful transactions: “Look at the transactions where you enjoyed working with the people and where your client had a great outcome, and then figure out that common denominator,” she says. “Was it parents of your kids’ friends? Your hiking group? Identifying a niche first and going after strangers is the hard way. I think it’s a lot harder than just following your heart and having your market niche match who you are.”

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KETS

A solid niche can be a boon to a real estate agent’s bottom line.

NICHE AR

By Andrew Conner

O RG

A C I L LY N

Sept/Oct 2021

“

I'm an avid dog and animal lover, and I am naturally attracted to people who have that same passion.” —Jean Groesbeck, CRS

Jean Groesbeck, CRS, translated her love of dog agility sports into helping fellow dog lovers with their real estate transactions.

Sept/Oct 2021

GETTING

From the start, I recognized that trying to duplicate what larger corporations had already built was a fool’s errand.” —Tim Kinzie, CRS

start small

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“

so I started as a cloud-based broker,” says Kinzie. “Even before I had the resources to create cloud-based software, I was branding and taking pride in the fact that our company was ahead of the curve regarding remote business infrastructure, for example. I knew it wasn’t perfect, but it was unique— I wasn’t trying to get 10% or 20% share of Tim Kinzie, CRS, founder of Montlor Luxury an already saturated market. I wanted to Realty in Cary, North Carolina, recommends corner something new and found that you following your passion when it comes to can make legitimately life-changing money finding a niche that works for you. “I think within a very specialized market segment.” you have to lead with passion; you can’t take Starting small also helped Eric Gardner, the clinical approach,” he says. “Even if you CRS, REALTOR® with RE/MAX Alliance identify an underserved market for some in Virginia Beach, Virginia. As a recently product type, if you don’t love that product retired 30-year veteran Navy Captain, type, then you’re going to hit a wall.” Gardner knew from the start of his real Kinzie suggests starting small—and, estate career in 2016 that he wanted to be depending on your niche, involved with military buyeven staying small. ers and sellers. “When I started as a real “I spent a good part of my estate agent 10 years ago, first year doing rentals and I thought, ‘What is the trying to find my way, figindustry currently missuring out the industry and ing?’” he says. “From learning and getting desigthe start, I recognized nations,” says Gardner. “I that trying to duplicate knew just based on who I was what larger corporations working with and wanting to had already built was a maintain a contact with milifool’s errand—you can’t tary members that this would out-Walmart Walmart, be my focus. I started working so to speak—so I decided with young, enlisted clients, to specialize in a more finding houses for them and innovative concept right helping them utilize their VA Eric Gardner, CRS, wearing his Navy flight jacket at the Naval Aviation off the bat.” loan. I felt comfortable as a Monument, in Virginia Beach, Virginia. Kinzie’s interest was retired Captain working with The patch is from Naval Air Facility in young Sailors—when I had a in technology and the Atsugi, Japan, which he commanded couple of sales for two single internet, so he aimed for from December 2008–December 2011. female Seamen (E-3) who the market he expected were both under 23, I thought that was the would most likely see the value in and coolest thing in the world to assist them.” embrace real estate technology: millenHowever, even when starting small, it’s nials. “I knew homebuyers were already important to think ahead. “You really have conducting searches online on their own,

Sept/Oct 2021

OFF THE GROUND to think about how your niche will grow with you,” says Kinzie. “Think about the scope of your life: One of the advantages of being a real estate agent is it’s not a ball and chain. I’ve built teams all over the country because we solve a niche problem that is constantly reappearing. You also have to think about the limitations. For example, I’m not a big fan of geographic specializations, because from the outset, you’ve already put a cap on your growth.”

get educated Beyond finding your passion and following it, learning the ins and outs of your niche and separating yourself from the competition through expertise will help improve the odds. Gardner pointed to the classes he took and designations he received through organizations like RRC as helpful in establishing a baseline of knowledge. He also participates in the Veterans Real Estate Benefits (VREB) Network, providing a Veteran Membership Reward to each veteran and active military client—over $175,000 since 2017. After he gained more experience with military members as clients, he got involved with the national nonprofit Veterans Association of Real Estate Professionals (VAREP) and is President of his local chapter. “Having that VAREP chapter here in Hampton Roads is part of building that The Residential Real Estate Council crs.com

niche, and taking care of those who chose to serve,” says Gardner. “We do what we can to educate military homebuyers about the strength of the product that is the VA loan. We do lunch and learns—virtual lunch and learns as well now—and offer classes. We just received approval to teach a military veteran housing certification class on the VA loan that is geared toward agents and lenders.” Both Groesbeck and Kinzie agree with Gardner about the importance of education. Groesbeck explains that getting and staying educated on your niche should also come organically. “You have to really love the aspects of your niche,” she says. “I think a lot of agents take a class or get a designation but don’t continue to educate themselves. If you’re not reading the articles, listening to podcasts or signing up for newsletters, that is a red flag. I absorb as much information as I possibly can because I love it. It will help your service and you’ll be able to understand and explain things like subtle differences in pricing or value.” Kinzie adds that when you’re starting in a new niche, it’s the perfect time to educate yourself. However, be sure you’re working for the right reasons. “I think anyone getting into the business these days needs to think about what value they are adding to the industry,” says Kinzie. “In the beginning, you have to think of yourself as a knowledge resource. Be helpful and build relationships, and then use everything you’ve learned to build your brand and your niche. Take advantage of the fact that you’re green—no one sees you coming. When you start succeeding, people will take notice.” Ultimately, the key to finding a successful niche already exists within every agent. Following your passions will organically lead you to building a brand and relationships that help set you apart from the competition. As you build more connections and increase your expertise, you’ll naturally carve out your new niche. TRS

Following your passions will organically lead you to building a brand and relationships that help set you apart from the competition.

Dominate a niche today! Check out the new webinar, Niches Equals Riches, on November 4, 2021. Register at CRS. com/catalogsearch.

Sept/Oct 2021

be fo

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The Residential Specialist trsmag.com

SINGLE-PERSON BUYER

Once upon a time, it was improper for a single woman or man to purchase a home pre-marriage. Women “needed” a man to cover the mortgage, and men “needed” a woman to decorate. Angelina Feichko, CRS, Sold By An Angel Real Estate® owner and principal broker, is helping her North Salt Lake, Utah, clients ditch that outdated belief. But to capture the single-person buyer niche, she had to tweak her role as REALTOR®.

“This buyer wants to purchase a home and is done throwing away money on rent. But when I first started working with singleperson homebuyers, we did more driving around from house to house than actual buying,” Feichko recalls. “Eventually, I realized that when I work with a couple, there’s this dynamic going on—so much

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KETS

The latter two market segments are sometimes within arm’s reach— literally. For example, if your business sits in a beautiful coastal town, like Laguna Beach, California, or Naples, Florida, beachfront property and vacation homes will likely feel like a comfortable fit. The audience niche can be more elusive, although there are benefits to building this type of focus. Some audience-based segments naturally cover a broader range of geographic locations, perhaps even taking you national. This niche can also represent a wider variety of architectural styles. Because this piece of the real estate pie is all about people, it’s a natural fit if you’re a people person. Here are three unique niches that CRSs have not only built their business on, but their personal happiness as well.

NICHE AR

By Donna Shryer

Real estate niches are highly defined audiences, locations or property types that a REALTOR® can target to build their business.

23 M

cused

Sept/Oct 2021

GUEST EDITOR: Jen Ward, CRS Some niches can transcend geography and be developed in any city across the country. These niches often can be fueled by a passion or interest that fulfills you and your excitement for your real estate business. When you are passionate, repeat business and referrals come as a result.

 Angelina Feichko, CRS, Sold By An Angel Real Estate® owner and principal broker in North Salt Lake City, Utah, has focused her business on selling homes to single-person buyers.

Sept/Oct 2021

RRC’s certifications and certificates offer specialized education in certain niches, like luxury and investing. Start the path to getting certified at CRS.com/learn/ certificates.

“ I made a commitment to our older neighborhoods— and gradually I became known as the ‘old house lady.’” —Sandra Nickel, CRS

encouragement, like ‘We’re in this together, Babe! We can do this.’ So, I’ve learned over the years how important it is to help that single-person buyer understand that they can do this. He or she has got this.” As Feichko offers words of encouragement, she’s simultaneously building a trustworthy relationship. “I’m not their spouse, but I am 100% their real estate partner,” she adds.

With trust, Feichko says, comes a long line of referrals. “Today, I’m helping past clients’ single adult children and even grandchildren buy their first home. So I don’t look at the single-person buyer as a short-term client; I look at this as a growing relationship. As long as they know I have their best interests at heart, they’ll come back to me for their next home. And their home after that. The single-person buyer is the beginning of a long relationship.”

OLDER HOMES WITH HISTORY closely monitored. Then there are homes in a designated historic neighborhood, which means restoration regulations pertain only to a home’s exterior. The final segment includes mid-century modern homes, or mid-mod for short, and this niche is sometimes further divided, with some communities designating midmod as historic. When focused on the older and historical home niche, understanding precisely what attracts these buyers is critical. For example, the  Sandra Nickel, CRS, uses the blog on her team's website to provide additional tips on restoring and caring for older homes. mid-mod shopper will likely be impressed if a 1950s or 1960s home has the original, pristine Coppertone “When I got into the real estate business, or pastel pink appliances, colorful lamI was drawn to older and historic homes, inate countertops and bright patterned but the first broker I worked for discourlinoleum floors. aged me from taking on this niche,” says “A REALTOR® who does not deal with Sandra Nickel, CRS, founder and CEO ® of Hat Team REALTORS in Montgomthis niche all the time might suggest that ery, Alabama. “He said the Montgomery the seller update these design elements, market was changing, and there was and you really don’t want to do that,” no future in older homes. But I made a Nickel explains. commitment to our older neighborhoods— As for those interested in 100-year-old and gradually I became known as the ‘old homes, the REALTOR® needs to understand house lady,’” she jokes. market value—neighborhood by neighborThis niche appeals to a broad audience hood. “In some communities, older homes that’s loosely split into three subcateare extremely desired, and they’re priced gories. The first includes older homes quite high,” Nickel says. “But in other comdeclared historic by an official board, munities, older homes may be on the verge which means restorations are costly and of affordable for even the first-time buyer.” The Residential Specialist trsmag.com

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Sept/Oct 2021

PROBATE REAL ESTATE “I help families who may be grieving the loss of a loved one by managing the details of the decedent’s property.” That’s how Kim Ward, CRS, broker and owner of Horizon Real Estate®, and certified probate real estate advisor, defines her niche. She’s been dedicated to this audience since 2004, and although she’s professionally based in San Diego, California, her clients span the country. Legally defined, probate real estate refers to the legal process through which a designated executor or administrator of an estate initiates the sale of the decedent’s property. “Most often, the executor or administrator— and my client—is a family member,” Ward says. “However, if the family just cannot work together, they might hire a fiduciary, which is like an attorney who represents the estate as an executor or administrator.” Unique to probate real estate, the REALTOR® and client typically meet face-to-face only once, when family members come to San Diego to go through the decedent’s home to remove all heirlooms and keepsakes. After that, everything happens via Zoom, phone or email.

 To help fellow agents understand the details of probate transactions, Kim Ward, CRS, hosted an informative webinar.

Also distinct to probate real estate, Ward usually organizes an estate sale or buyout to empty the probate home before opening the door to potential buyers. That, Ward explains, is because the furniture may be older, in ill repair or mostly gone after family members remove what they wanted. With an empty house, Ward handles cost-effective repairs, then initiates what she calls “soft staging.” As for full disclosure, Ward clearly states in the MLS that this is a probate house. She also attaches documentation to the listing. “You must use a probate purchase agreement and not a residential purchase agreement, so this is a reminder for the buyer’s agent,” Ward explains. TRS

Element of Surprise When considering the of Hat Team REALTORS® in Montgomery, Alabama. perfect niche to build your “A dog comes up to you, capbusiness, the answer may already be right there in your tures your heart, and that’s that. It’s the same way with client file. In other words, a niche. I would probably your ideal niche may have have more wealth today if picked you. I’d worked as hard selling “When we say we rescued expensive homes as I worked a dog from the pound, we’re on my historic and older kidding ourselves. The dog home niche. But my heart rescued us,” says Sandra Nickel, CRS, founder and CEO wouldn’t be nearly as full.”

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In North Salt Lake, Utah, it’s a similar story for Angelina Feichko, CRS, Sold By An Angel Real Estate® owner and principal broker. “First-time, single-person buyers kept referring me to first-time, single-person buyers. My niche found me.” As for Kim Ward, CRS, broker and owner of Horizon Real Estate® in San Diego,

California, an introduction to her niche— probate real estate—came only after an attorney reached out for her for help. “I found it challenging to manage the personal property for someone who was grieving the loss of a loved one and really unable to deal with selling a house.”

NICHE AR

Sept/Oct 2021

KETS

GUEST EDITOR: Jen Ward, CRS Changes in consumer lifestyles brought on by the pandemic and migration patterns created new trends in real estate. Some people could work remotely and choose where they live. If you work this niche, you are the go-to expert, and if you have a client hankering for ranch land, you can find referrals through the vast network of CRS designees. Staying on top of these trends can help you expand your knowledge as well as your business.

Seeking greener

PASTU Many people saw their work and lifestyles change during the pandemic, and while some things will return to a new type of normal, other changes may be more long-term.

By Megan Kramer

Those who are able to work remotely are cutting ties with their offices, moving from cities to suburbs or even to new states completely. Being at home more often also spurred homeowners to either renovate their homes or relocate somewhere with more space. Even as states open back up, many homeowners will still enjoy time at home. “There is a demand for space,” says Tricia Tialdo, CRS, broker at Strano & Associates in southern Illinois. “People are reevaluating their needs for space and a home, [and] whether it be indoor space or outdoor space, people want privacy—they want to be separated.” One trend certainly has caught the eyes of those who are looking for homes with room to breathe: shared amenity ranches.

The Residential Specialist trsmag.com

Sept/Oct 2021

RES

STATES WHERE YOU CAN FIND SHARED RANCHES

Montana Oregon

Idaho Wyoming Nebraska Utah

Colorado

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New Mexico

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Sept/Oct 2021

Acres of one’s own

The biggest difference on a shared ranch is the size of the parcels of land.

There are numerous types of shared ranch concepts, but the most popular is the exclusive community ranch. These ranches are similar to the kinds of shared communities you see in suburban areas, where members own their home and parcel of land, but share public spaces, amenities and neighborhood responsibilities. Just like with these suburban developments, exclusive community ranches are owned and managed by one entity, and ranch owners pay into something akin to a homeowner’s association (HOA) to fund the upkeep of shared land and amenities. The biggest difference on a shared ranch is the size of the parcels of land. Some developments offer hundreds of private acres for those who want optimal privacy, while others offer a more modest acreage. Buyers can purchase land with an existing home on it or purchase open land on which to build their dream home. Either way, there are opportunities to tailor the land and rooms in the home to fit their needs, which is the biggest appeal for buyers right now, says Tialdo. “People are wanting rooms for work or virtual learning—those kind of dedicated spaces,” she says. “A lot of people also have made spaces now for fitness and recreation, whether it be a yoga studio or all of their exercise equipment in one room.

“There’s also interest in expansion of outdoor areas,” Tialdo continues, “so they can have room for the kids to play, to host some small gatherings or outdoor movie nights, or maybe put in a fire pit or outdoor kitchen.” Whether buyers want five acres or 500, they’ll have the flexibility to do all of this and more. And each parcel of land has the infrastructure for water, electricity and internet, meaning owners can work from home in peace and quiet.

Meeting the neighbors

The pandemic brought on a strange dichotomy for many people. Feeling “stuck” at home made us want to go out while simultaneously connecting us more to our homes as safe spaces. Now, we want to feel comfortable at home but also desire ways to safely socialize. An exclusive community ranch addresses both of these needs by offering a multitude of shared amenities. These vary by location but can include a large communal building for dining experiences or gatherings, a main barn, equestrian facilities, guest cabins, hiking trails and shooting ranges. While ranch owners can take part in these activities on their own, participating is also a chance for them to meet and bond with their neighbors—a type of human connection people have been craving since the start of the pandemic.

Home on the Range For those who are looking to purchase a shared amenity ranch property, there are numerous options depending on how much they’re willing to spend and how much land they’d like to own. According to sale records from Mirr Ranch Group in Denver, prices of recently sold shared ranch properties in Colorado ranged from $ 725,000 to $3,570,000. Acreage for these properties ranged from 91 to 2,850. Source: Mirr Ranch Group

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Sept/Oct 2021

3 TYPES OF SHARED RANCHES There are many types of shared ranch concepts, but the three most common are exclusive community, shared operations and private sporting clubs. Choosing the right type will depend on what buyers plan to do with the land, as well as the amount of responsibility they want to claim.

Exclusive community In an exclusive community ranch, a buyer owns their ranch house and several acres of private land within a development, surrounded by other shareholders. There are also common areas on the site where they can enjoy shared amenities, which vary by location. The development is owned and managed by one entity, which handles things like ranch operations, land upkeep, maintenance and repairs, security and snow removal.

Shared ranch operations This type of shared amenity ranch is for those who want to ranch their land for profit but may not have the bandwidth to handle all of the operations themselves. Buyers own their ranch home and a certain acreage around it, while sharing the larger ranch with other shareholders. Agricultural duties and other responsibilities are doled out; resources like equipment, management skills and labor are pooled; and income created is shared by everyone.

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“When you share a space, you get to know your neighbor,” Tialdo says. “Especially if you use the shared facilities often, you see people and get to talking. I think sometimes in these areas, too, people tend to feel a sense of security, because everybody’s kind of watching out for each other.”

Choose your own adventure

The owner of a development usually provides a team to handle things like ranch operations, land upkeep, maintenance and repairs, security, individual ranch home inspections and snow removal, which is why exclusive community ranches are known as “ranch living without all the The Residential Real Estate Council crs.com

Private sporting clubs Private sporting clubs focus more on hunting and fishing; buyers share collective sporting rights with other owners. Owners are able to hunt and fish on the land and are also responsible for proper land management as a group. The ability to build on the land varies, but private sporting clubs sometimes have shared accommodations.

work.” Ranch owners can choose to be as high- or low-maintenance as they like on their own land. For example, some owners may want to keep horses rather than solely sharing equestrian facilities. It’s up to each person’s desired lifestyle, making shared ranches appealing to all walks of life, from younger professionals looking to relocate to baby boomers considering early retirement. Whether a potential buyer is looking to get away from the hustle and bustle of their current location, wanting to connect more with nature or just wanting to go on a new adventure, moving West and buying a ranch may be the answer. TRS

New trends like shared ranches are always popping up in real estate. Stay in the know with the webinar, Navigating in Shifting Markets!, available on CRS. com/catalogsearch.

Sept/Oct 2021

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Sept/Oct 2021

OH NO... By Michelle Huffman

NO!

You guided your buyers through dozens of homes and put offers on many of them, but ultimately lost out.

Your buyers are exhausted and frustrated. Finally, they put in an offer that’s accepted. Everyone celebrates—a win! A home! Finally! Then the doubt sets in. When the thrill of the chase fades, your buyers are racked with remorse. The kitchen needs a lot of work. The location isn’t ideal. The monthly payment feels like too much. They won the bid, but they didn’t get the home of their dreams. Now what? This scenario is playing out in markets across the country, driven by limited inventory that requires buyers to make big decisions with lots of compromises at warp speed. “Buyer’s remorse is much more common in this superheated market we’re currently experiencing,” says Judy Barrett, CRS, REALTOR® in Kailua, Hawaii. According to a spring 2021 Bankrate survey, a full 43% of homebuyers have regrets, and that figure jumps to 64% among millennials. Another study conducted by lender LendEDU in 2020 found that 55% of buyers who purchased during the pandemic regret their purchase. That’s some serious buyer’s remorse. This issue doesn’t just impact buyers; it impacts agents, as well. “For seasoned agents, buyer’s remorse issues prior to the pandemic were probably 5% or less, but that was then,” says Tony Moore, CRS, with Moore and Co. Realtors in Russellville, Arkansas. Now he puts the number at 10% for these agents. “Newer agents, those in the business for three years or fewer, could see 20% to 30% of their potential gross income evaporate in this one single category in the next 12 months,” he adds.

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A full

43%

of homebuyers have regrets, jumping to

64%

for millennials. Source: Bankrate

Of buyers who purchased during the pandemic,

55% regret their purchase. Source: LendEDU

Sept/Oct 2021

“

Asking someone to make a decision on a $300,000 to $400,000 purchase in 15 minutes is a lot for anyone.” —Jennifer Hunt, CRS

A DIFFERENT KIND OF BUYER’S REMORSE In super competitive markets, a new kind of buyer’s remorse is emerging: the remorse of not buying a home. This is the kind of remorse Matthew Plummer, CRS, with MVP Realty Group in Olympia, Washington, is seeing more often, particularly with first-time buyers. Prepare them as he might—telling them that it will likely take six months to a year to find a home, citing the stats on how often homes sell above asking and sharing stories of clients who missed opportunities—most buyers have to go through the process and experience firsthand what it’s like to lose, often several times over. To help would-be buyers deal with this kind of buyer’s remorse, Plummer recommends:

Backing off his clients’ max budget—in his case by about $40,000— to make room for a winning offer because so many homes are selling for above list price.

Advising clients to make a “no regrets” offer. “This is the absolute all you’d be willing to pay for this particular property,” he says. “If you’d be disappointed if someone won this property for $1,000 more than what you offered, then you haven’t offered your best offer.”

Prepare buyers for the market

For more tips on managing new-buyer anxiety and other valuable tools to create an enjoyable buying and postbuying experience, check out the First Time Home Buyers eLearning course at CRS.com/ catalogsearch.

It may seem gloomy, but prepping buyers for the amount of compromises they must make, the competitiveness of the current market, the reality of their price range and the total cost of ownership can significantly reduce the potential for buyer’s remorse. “Have the tough conversations upfront, and let them know the challenges they will be facing,” says Jennifer Hunt, CRS, with Berkshire Hathaway Home Services NE in Southington, Connecticut.

Encouraging clients to be prepared for what it might take to get there. For example, how much cash can they offer? Do they need a gift from their parents to cover a price that doesn’t appraise?

Going through possible outcomes with clients early on in the process. “Hindsight is 20/20,” he says, “I try to give my clients as much hindsight as possible upfront.”

“They need to know what they really want. Are they willing to give up some space in the kitchen for a larger backyard or vice-versa?” It’s also important to address the emotions that will come up during the buying process. According to a FlyHomes survey, 58% find the buying process stressful. It’s important that buyers know that stress is normal—and not indicative of the decision they’re making about their home. That’s why it’s also key to normalize buyer’s remorse. The Residential Specialist trsmag.com

Sept/Oct 2021

Prepare buyers for potential remorse

Preparing buyers upfront to have cold feet or feel some regret when they buy may seem counter-intuitive, but managing these feelings ahead of time can minimize them when they crop up. To help buyers, Hunt books two showings at the same high-potential house on the same day. Showings book up fast, and she wants her buyers to be able to see the house again before writing an offer. This takes the pressure off. “Asking someone to make a decision on a $300,000 to $400,000 purchase in 15 minutes is a lot for anyone,” she says. Barrett’s solution comes in the form of jellybeans, which she dispenses in a prescription-style bottle, purchased online and bearing a custom label, joking that these pills will ease the predictable homepurchasing pain. “Humor is a great destresser and helps assure

them that what they’re going through is perfectly normal, and they’ll get through it,” she says. Moore agrees: “I typically say, ‘It’s very normal to have butterflies in your stomach after making a major investment like a new home. Sometimes, at 2 a.m., they seem more like B-52 bombers than butterflies. Let me assure you now, this is very normal.’” He also walks them through all the reasons they wanted to purchase the home in the first place, helping them emotionally reconnect with the property. Finally, Barrett likes to remind them that they can, in fact, get out of the contract unscathed if the inspection turns up serious issues with the property, which is reassuring and helps them avoid feeling trapped, she says. Regardless of how they handle it, agents who confront this problem head on will likely be glad they did because the trend doesn’t appear to be reversing anytime soon. “We are going to be learning a new normal: the hangover from COVID-19 and all the changes surrounding it,” Moore says. “Don’t be surprised if this problem continues for the next three or four years.” TRS

“

Humor is a great de-stresser and helps assure them that what they’re going through is perfectly normal, and they’ll get through it.”

iStock.com/GeorgePeters/daniel_wiedemann

—Judy Barrett, CRS

 Judy Barrett, CRS, uses humor to help clients with buyer’s remorse. She provides a fake pill bottle filled with jellybeans to “ease the pain” of purchasing a home.

What do buyers regret most? Maintenance and other costs are too high

16%

House is too small

Bad location

The Residential Real Estate Council crs.com

Didn’t get the best mortgage rate

House is too big

Mortgage payment is Overpaid too high

Not a good investment

Market Values

Sept/Oct 2021

Insights from industry data

MAY 2021 REALTORS® CONFIDENCE INDEX

On-the-Ground In REALTORS® Market Expectations

PRICE EXPECTATIONS: 3-MONTH OUTLOOK 3%

Fall: More than 20% Fall: 11% to 20%

Fall: 6% to 10%

5.1

2.2%

Y/Y Sales 3-Month Outlook:

11%

Y/Y Price 3-Month Outlook:

Fall: 1% to 5%

SALES VOLUME: 3-MONTH OUTLOOK

12%

Stays the same

17% 24%

34%

Rise: 1% to 5%

17%

Rise: 6% to 10%

11% 11%

19%

Rise: 11% to 20%

Rise: More than 20%

Issues Affecting Buyers and Sellers PROBLEMS ENCOUNTERED FOR DELAYED CONTRACT Issues related to obtaining financing

21%

7% 26%

Appraisal issues Home inspection/ environmental issues

13%

8% 11%

Titling/deed issues Issues in buy/sell distressed property

3% 1%

Contingencies stated in the contract

Home/hazard/flood insurances issues

Buyers lost job

Other

PROBLEMS ENCOUNTERED FOR TERMINATED CONTRACT

3% 0% 1% 26%

11% The Residential Specialist trsmag.com

Sept/Oct Sept/Oct 2021 2021

SURVEY

formation

Source: NAR

Market Conditions

REALTORS® BUYER TRAFFIC INDEX WA MT OR ID

WV VA

AR MS

VT NH MA CT RI NJ DE MD DC

REALTORS® Confidence Score (on a scale of 0–100) ■ Stable (45 to 55) ■ M oderately strong (56 to 75) ■ Very strong (75+)

were firsttime buyers

FL HI

REALTORS® SELLER TRAFFIC INDEX WA MT OR ID

iStock.com/KrulUA/Poligrafistka/kathykonkle

NV CA

IL KS OK TX

WV VA NC

TN AR LA

The Residential Real Estate Council crs.com

■ Very weak (0 to 25) ■ Weak (26 to 45) ■ Stable (46 to 55) ■ M oderately strong (56 to 75) ■ Very strong (75+)

FL HI

VT NH MA CT RI NJ DE MD DC

REALTORS® Confidence Score (on a scale of 0–100)

For more information, access the May 2021 REALTORS® Confidence Index Survey at NAR.realtor.

SPECIALIZED

Sept/Oct 2021

Council Classroom

KNOWLEDGE

Strategies from the industry’s top educators

Agent Investment Opportunities Mike Selvaggio, CRS, is a Certified Instructor with the Residential Real Estate Council and an affiliate of the National Association of REALTORS® who served as the 2008 National President of the Council of Residential Specialists (now the Residential Real Estate Council). He has taught agents in all but two U.S. states, as well as in the Bahamas, Canada, Spain and Japan. Selvaggio opened his own real estate company, Delaware Homes, in 2007 and now has three locations serving all of Delaware.

ill Rogers has a famous quote: “Real estate is the only thing they are not making any more of.” When looking to select or recommend an investment, it’s a good idea to choose something that people can’t live without. Certainly, real estate falls into that category. Real estate offers some distinct advantages over other types of investments. While stocks and other soft investments are represented by paper documents, real estate is physical; there is land and/or a building involved. When the economy takes a downturn (or the stock market takes a tumble), property owners can adjust rents slightly lower, keep their

tenants and weather the storm—as long as they are not over-leveraged. I am not advising against having a diverse investment portfolio. Rather, it just makes so much sense to put the bulk of our investment into the business that we are experts in. It’s also the one investment that provides leverage. No other investment allows you to buy with a small percentage down and get the entire product in return. In our investment courses, including Increasing Wealth with Rentals and Other Investment Properties, we share the benefits not only of cash-on-cash return, but also how owning properties provides an exit strategy from our roles The Residential Specialist trsmag.com

iStock.com/anilakkus/Anastasia Shafranova

By Mike Selvaggio, CRS

Sept/Oct 2021

EARN INVESTOR CERTIFICATION Increasing Wealth with Rentals and Other Investment Properties is a required part of the bundle of courses RRC has put together to teach agents how to advise clients on investment properties as well as become savvy investors themselves. Courses are offered in person or as e-learning modules and will cover these principles, among others: f Explain how to attract the right investors to build a niche f How to develop a basic investor buyer interview questionnaire f How to calculate the return on investment and income analysis for residential investments f Calculating the cash flow of a potential rental property f Simplifying ROI evaluations with easy-to-use financial apps

“

No other investment allows you to buy with a small percentage down and get the entire product in return.”

Upon completion of the program, the REALTOR® earns RRC Real Estate Investing Certification, which will help you stand out with clients and colleagues.

as REALTORS®. Rental properties provide eternal cash flow and have a built-in inflation rider, as rent increases in accordance with the economy. For example, the rents of an investment property have gone from $600 a month to $1,200 a month over the last 18 years. Of course, there are tax advantages that only real estate professionals can enjoy (consult your CPA). But the theory I believe is that the tax advantages for depreciation, interest deductions and appreciation are only the icing on the cake—the cash flow is the cake. Consider this: If you think about any property in your market 10 years ago, how would feel if you owned one now? The Residential Real Estate Council crs.com

How would it feel if you owned 10 of them now? And the last question: How would you feel, and would your life be any different, if they were all paid off? Real estate is by far the best investment, and the only thing it does not provide is liquidity. As real estate experts, this should not be a major concern, as we understand the market better than anyone else. When you search for an investment property, do not look for the ultimate deal, just look for a fair return on your investment and let inflation and the future take care of the rest. As with any investment, there will always be risk, but as a CRS, you know the market and can minimize it. TRS

To learn more, be sure to take this course and some of the many others from RRC. For a full list, go to CRS.com/ catalogsearch.

SPECIALIZED

Sept/Oct 2021

Innovations

Tech solutions for real estate

Weathering the Data Security Storm

aves of change have and will continue to crash into the side of the ship that is the real estate industry. Never has this been more true than the past two years. Except what we experienced wasn’t just a wave—it was a tsunami. Real estate agents have had to be more agile, flexible and adaptable to not only survive, but thrive. As the nation responded to the pandemic, real estate agents were called on to respond to state and local orders that changed the way real estate transactions are handled from start

to finish. These changes have included the adoption of new tools and technologies that enable agents to work remotely and limit contact with other individuals—and they are likely here to stay. Unfortunately, not all of these tools and technologies are as safe as we need them to be, and agents need to be more cognizant than ever of protecting the data that their clients entrust them with daily. REALTORS® are particularly susceptible to data breaches—and like many small business owners, they can underestimate their cyber risk.

The Residential Specialist trsmag.com

iStock.com/peshkov/Anadmist

KNOWLEDGE

Sept/Oct 2021

Here are some simple best practices for data security, featuring the most popular apps and platforms being used by real estate agents today: f As millions of Americans are now using Zoom and other videoconferencing tools daily, any data breaches may provide unprecedented access to otherwise confidential conversations between users. Virtual meeting platforms lack important security features that real estate agents need. When hosting a virtual client discussion, look for endto-end encryption like that of WhatsApp or Google Duo.

f Agents and clients are still getting caught up in phishing, spear-phishing and social engineering attacks. Phishing scammers often email real estate professionals to list properties the scammer is not authorized to sell. These emails typically include links or attachments, which are designed to hack your system to gain confidential or sensitive information. An easy way to decrease your risk is to limit what data and information you are sharing on social media and quit taking Facebook quizzes.

Agents need to be more cognizant than ever of protecting the data that their clients entrust them with daily.

f There is no “security by obscurity”—every agent and brokerage needs to examine their data security protocols. Incorporate simple steps into your team’s daily routine like using passwords, installing patches and avoiding rogue hotspots.

Just as threats are evolving every day, so must you and your team. Every brokerage should have proactive compliance habits and security in place to prevent an attack and know how to respond to an incident the right way. TRS

The Residential Real Estate Council crs.com

Expand on these tips, and take a deeper dive into data security in the free member benefit webinar, Data Security in a Virtual Environment, found at CRS.com/ catalogsearch.

Sept/Oct 2021

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.

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

The Residential Specialist trsmag.com

BUSINESSES HAVE INCURRED $223 BILLION IN COSTS DUE TO TURNOVER IN THE LAST 5 YEARS.

HOW MUCH ARE YOU WILLING TO SPEND?

With RRC Broker Solutions, you get: Customized education to ensure your new agent has a PLAN for success. Dedicated HR experts focused on the needs of your business. Real Resources to help you meet your everyday challenges.

Don’t wait, contact RRC Broker Solutions today and redeem $50 off your first hour of HR Consulting with Code: HR50 Ready to put us to work for you, visit our website at www.crs.com/broker-solutions Broker Solutions is a Service for Independent Broker Owners powered by the Residential Real Estate Council

DESIGNATION

NATION

Your Own Council

Sept/Oct 2021

News and updates

Learning On the Go

Visit CRS.com/ catalogsearch to learn more.

Eco Living: High Performance Homes Homeowners want to feel good about the way their property interacts with the environment. Eco Living will show you how to work with buyers to find their dream homes and sellers to market their homes’ unique features.

Advanced Pricing Strategies: Competitive Pricing for Sellers and Buyers Advanced Pricing Strategies will improve your pricing techniques for all clients to overcome low inventory and high competition. The Residential Specialist trsmag.com

iStock.com/mrPliskin/Fourleaflover

ou may be on the go and spinning more plates than ever before—but don’t let that stand in the way of your professional growth. The Council has launched two new eLearning courses, which you can learn on your own time and at your own pace.

Sept/Oct 2021

Are You Taking Advantage of Your Member Benefits?

Inaugural Installation and Awards

etworking opportunities, education discounts, news sources, insurance—are you taking advantage of all that you have at your fingertips? Everyone needs a reminder every now and then. That’s why we have added a new monthly newsletter, Membership Matters, so you don’t miss out on the numerous benefits available. The first issue was distributed in August and will continue every month.

Join us for an evening of celebration at the 2022 RRC Inaugural Installation & Awards. We will be installing our new 2022 officers and recognizing many other leaders and volunteers who have made outstanding contributions to the Council this year. Following, there where will be cocktails, dinner and dancing.

Please visit CRS.com/membership/benefits for more information.

Saturday, Nov. 13, 2021, at 6:30 p.m. Omni San Diego Hotel

WE’LL SEE YOU IN PHOENIX! What do you envision for 2022? Let Sell-a-bration® help take you there! Sell-a-bration 2022 Envision will be held March 4–6 in Phoenix at the Arizona Grand Resort & Spa. Please check the event page for more details on speakers, schedule and, of course, fun!

iStock.com/simon2579/dszc

Visit CRS.com/sell-a-bration for more information.

The Residential Real Estate Council crs.com

Save your spot today—visit CRS.com/attend/ annual-meetings.

DESIGNATION

Sept/Oct 2021

I let the prospective seller know that I:

Am an industry expert

Have advanced real estate education

Have special training and skills

Provide past sales documents

Have a unique approach

Bring humanity to the process and transaction Jesse Cordova, CRS, Beach Realty United, Virginia Beach, Virginia

Ask a CRS

Advice from your peers

I’m losing business to other brokers who have less experience than I do. What can I do to change this? Any time you get through the door of the potential listing, you’ve already won, and it should not be seen as a waste of time. When your stats are equal to your competition, it comes down to the personal connection people feel with you. Cheryle Clunes, CRS, Realty ONE Group Prestige, Oregon City, Oregon

Try to bring humor/lightheartedness into your meeting with the client, or discuss your most recent humorous transaction where you solved a particularly difficult situation. Perhaps try to find shared interests or friends (if possible). Hold your head up high, thank them for thinking of you and just move on as long as you know you did the best job you could. Can’t always catch them all. No matter how long one has been in the business, we work hard to earn every listing. Doannie Tambascio, CRS, Coldwell Banker Residential, Severna Park, Maryland

Experience is great and necessary, but for me it was also helpful to volunteer in those niche areas … show up, donate, sponsor events. Be present, and allow the community to get to know you. Maybe show that involvement on social media. Brenda Hampton, CRS, Crye-Leike Realtors, Memphis, Tennessee A branding refresh might be in order, something that touts your experience, so there’s no question in anyone’s mind about your qualifications. I’m starting the brand refresh process with my coaching group and am excited to see how it will turn out. I think it helps. The branding/marketing guru I’m working with is a very creative young person, so she can see things from a different generational perspective.

Teresa Willard, CRS, Keller Williams Realty, Monroe, Washington

Bring a community information guide full of the resources and recreation in that area, and show them that you’ll be providing it to every potential buyer who walks in the door. Include a brief history of the area, public transportation, school reports, community events, etc. Gary Rogers, CRS, RE/MAX On The Charles, Waltham, Massachusetts

The Residential Specialist trsmag.com

iStock.com/bowie15/Infadel/filo

NATION

Sept/Oct 2021

Make a list of every house that your company has sold in your area in the last 40 years. Be prepared to provide it even if it’s three pages. That lets them know that you have expertise in the area. A good way to start the conversation would be to say: “I want to let you know that I am very knowledgeable in your area, and here are some of the home sales that my company and I have handled. I’m sure you’re looking for an agent who is very familiar with the area and who has the skill set to get the house sold and closed. If that’s the case, then you found the right agent.” Some of the questions you should be asking when you’re talking to the seller are: “Are you interviewing other agents? If so, who and why? What qualities do you look for in an agent to represent you? What experience and skill sets are important to you and why?”

Have you considered creating a YouTube channel with basic videos of your area? That could make you the “area expert” in a lot of people’s eyes.

Alexis Bolin, CRS, KW Gulf Coast- Keller Williams, Pensacola, Florida

Todd Bingham, CRS, Willow Real Estate, Grapevine, Texas

I have found that I could go on for hours talking about my designations and awards, but “What is most important to you when selecting a REALTOR®?” is the most important question that should be asked to a potential client.

iStock.com/undefined undefined

Jim Paulson, CRS, Progressive Realty Corporation, Boise, Idaho

Explain to the seller what is going on in today’s market and how your success has come from your ability to adapt and advise property owners for maximum results due to your keen negotiation techniques and experience. Be the second agent in, and close the owner at their table—ensure all decision makers are present. After meeting with the first agent, there is a reason they sought you out. Ask “what” questions, and use Tom Hopkins’ methods. Linda Pilmer, CRS, Pilmer Real Estate, Inc., Aurora, Illinois The Residential Real Estate Council crs.com

Ask if they are thinking of using an agent who helped them purchase previously. Also ask what other agent(s) they have or are going to talk to, and if they are leaning toward that [other] agent. Vicki Marsh, CRS, Berkshire Hathaway HomeServices Florida Realty, Sarasota, Florida

Have a great story to share? Email social@crs.com or look for discussions happening online on our Facebook, Instagram, LinkedIn and Twitter pages.

DESIGNATION

RRC Connect

Sept/Oct 2021

NATION

Expand your network

CONNECTION PERFECTION

Expanding the Family

ecoming a member of the Residential Real Estate Council not only provides you a great referral network, it gives you connections that swiftly grow from friends to family.

MO Kim Cameron, CRS

When I was on the leadership team for RRC as First Vice President, I met Kim Cameron, CRS, as a state leader. I immediately recognized her as a rising star and future leader for our organization. She realized that I had a son, Sterling—my baby and youngest son—in school at Lindenwood University in St. Louis, Missouri, where she resides and works. She volunteered to be a “second mom” to him while he studied there, someone he could call day or night if he needed anything. Fast-forward to today, and Sterling now has an MBA and just got married. He and his wife decided to shop for a house in the fast-moving market of St. Louis. Kim and her team immediately reached out and truly guided the young couple through the process—an even tougher task as they chose a new construction home. Kim helped to first educate them on the market and counseled them to take their time in choosing the right home—starting with choosing a vacant lot with a good view. The referral I received from Kim’s team helped with the closing costs and a new couch. TRS Janelle Pfleiger, CRS, RE/MAX Dynamic Properties, Anchorage, Alaska

Janelle Pfleiger, CRS

MAUI Real Estate MID-ATLANTIC

www.JoanneFoxxe.com

PACIFIC 808-385-2918

PACIFIC

jofoxxe@Maui gmail.com Director-Certified Residential Specialists

Joanne Foxxe CRS, GRI, SRES e-pro Maui CRS director

Joanne Foxxe 808-385-2918 CRS, GRI, SRES, e-Pro, RSPS

cell and direct line

Search all Maui properties on my website

www.JoanneFoxxe.com Quality isn’t expensive, it is priceless. Top 100 Hawaii Realtors 2017.

Oh by the way, I am never too busy for your referrals. Keller Williams Maui Luxury Real Estate Kapalua  Lahaina, HI 96761

HAWAII ...sharing Aloha through excellence and experience...

Nancy D. Metcalf, CRS REALTOR®, Vice President

Luxury Property Specialist RB-16599

Hawaii CRS of of Year, 2003® Hawaii Association REALTORS REALTOR® of the Year 2018

Direct: (808) 223-9246 nmetcalf@cbpacific.com www.nancymetcalf.com Celebrating 27 years yearsassisting assistingclients! clients! Celebrating 25

The Residential Specialist trsmag.com

Sept/Oct 2021

SOUTH

WEST SOUTHEAST FLORIDA Weston, Pembroke Pines, Miramar, Hialeah, Miami Lakes, Hialeah Gardens, Miami Beach, Miami, Miami Springs, Doral 2021 Florida RRC President Major Investor Crystal R BA - Florida International University Fluent Spanish ~ Hablo Español

Vivian Macias, CRS, GRI, SRS Broker - REALTOR® 305-300-4425 vivian@principalproperties.com vivianmacias.realtor

33 years of Experience, Commitment, & Professionalism

WEST

BEN & CAROLE HEINRICH

CALIFORNIA’S MONTEREY PENINSULA A trusted name for nearly 50 years!

Local real estate experts in Carmel, Carmel Valley, Pebble Beach, Big Sur, Monterey & Pacific Grove for over 30 years.

Terry McGowan CRS, GRI, ABR, SRS, e-Pro, SRES Cal DRE# 01126129

Carole, CRS, CFP® Ben, CRS & CRB RSPS & SRES CRS NorCal chapter past president

www.TheHeinrichTeam.com 831.915.7415

925-200-8495

Team@TheHeinrichTeam.com

DRE# 01005829

Ben BRE License #: 00584641

WEST

RENO • NEVADA

WEST

• Reno native and trusted advisor for over three decades to thousands of buyers and sellers • RealTrends – ranked top 1% of REALTORS® in the U.S. • Top 1% in Nevada in production

THE DEES GROUP R E A L E S TAT E

DON DEES # •24561 S

Dickson Realty 775-742-0669 dondeesgroup@dicksonrealty.com

The Residential Real Estate Council crs.com

Carole BRE License #: 01069022

Sotheby’s International Realty 831-236-7251 terry.mcgowan@sothebyshomes.com www.terrymcgowan.com

Ask about Lake Wildwood near Grass Valley! Specializing in helping You reach Your Real Estate goals since 1991!

Reach more than

30,000 CRS peers with your ad here.

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

DESIGNATION

Sept/Oct 2021

Balancing Act

NATION

Practical strategies for restoring balance

Staying Motivated in Winter

Seasonal affective disorder (SAD) affects about

of the United States adult population. Source: American Psychiatric Association

Make use of your evenings — The sun sets early in winter, and you may have the urge to go straight home to hibernate after a long workday, which is completely reasonable. However, staying active afterhours can do wonders for your morale. Schedule dinners with friends, head to the gym or even find a new hobby to take up. Keeping busy even during down time can be great for your mental health and, in turn, help you wake up motivated for work the next day. Set goals — You should always be setting goals for both your personal and professional life, but with fewer distractions in colder temperatures, you may have an easier time accomplishing them. Think about what you’d like to accomplish for your business: Do you want to expand your client base? Do you want to become a more proficient marketer? Brush up on tech skills? Set reasonable goals for the remainder of the season, so when the weather gets nicer and you want to be outside more often, you’ll have already accomplished a host of valuable

tasks. There are also several helpful apps, such as Strides (available on iOS) and Way of Life (available on both iOS and Android), to help manage your goal setting and progress. Keep a set schedule — For those who like to be as organized as possible, map out a calendar in November for the winter season, and post it at your desk or on your wall at home. Looking at a prominently placed schedule with your upcoming activities is a great way to remind yourself that you have things to look forward to. If the constant reminder of work is too much, keep it strictly to fun or social activities you have planned. A great resource to help with scheduling is Calendly, an app that makes scheduling right from your phone easy and integrates with your Google, Outlook or Apple calendars to make keeping track of work and personal activities a breeze. Seek support if necessary — Sometimes, helping yourself just isn’t enough. According to the American Psychiatric Association, seasonal affective disorder (SAD) affects about 5% of the United States adult population. Those who experience SAD often feel the effects most in winter when the weather is colder and there is less sunlight. Symptoms include a change in appetite or sleeping habits, feeling generally sad and a lack of motivation to do the things you once enjoyed doing. If you or a loved one may be experiencing these symptoms, seek the help of a medical professional trained to diagnose and treat SAD. Or, you can call the Substance Abuse and Mental Health Services Administration (SAMHSA) National Hotline at 1-800-662-HELP (4357) to talk with a trained professional about any symptoms you may be experiencing. TRS The Residential Specialist trsmag.com

iStock.com/StefaNikolic/M-Vector

ummer and fall are full of opportunities for outdoor activities and socializing. But as the calendar turns and temperatures start to drop, many people find themselves wanting to stay indoors and not venturing into the frigid winter weather. This sedentary and inactive lifestyle can bring about a lack of motivation to do much of anything—a state that REALTORS® really can’t afford to fall into, as their business relies on being active and out and about. Here are a few ways to chase away the winter blues, so you can bring your A-game to your clients.

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