Setting professional boundaries is necessary for agents to function efficiently and effectively + Resolving team conflicts 9 + Handling neighbors 18 + When to turn down a listing 26 + Boomerang retirements 30
ONLY SO MUCH TIME
22
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18 Naughty Neighbors
Real estate agents must prepare for potential disruptions from property neighbors who can’t mind their own business.
By Jason Henninger
FEATURES
22 In Demand, Not On Demand
Establishing boundaries for clients and other agents is necessary to maintain a good work-life balance.
By Myrna Traylor
When to Hold ’Em and When to Fold ’Em Don’t be afraid to reject a property listing if you feel the fit isn’t right for your business.
By Jason Henninger
Boomerang Retirements
Some agents just can’t quit the real estate business—and it’s not that uncommon.
By Luanne Mandeville, CRS
Vol.
No. 3
23,
26
30
18 22 30 26 Residential Real Estate Council crs.com May/June 2024 1
Market Pulse
Personal Perspective: Stephanie Grant, CRS, Coldwell Banker Premier, Henderson, Nevada
Cracking Conflicts: The ability to resolve real estate team conflicts is a skill that all brokers should develop. By Jason
Henninger
When the Going Gets Tough: Resilience is necessary for agents and teams navigating a tumultuous market. By
Smart Living: Mobile apps to help manage property listings on the go.
Insights from industry data.
Specialized Knowledge
Council Classroom: Learn how to build stronger client relationships.
Marketing Matters: Q&A with Sell-a-bration® Closing Session keynote speaker Kyle Scheele.
Designation Nation
40 Your Own Council: RRC news and updates. 42 Ask a CRS: Advice from the country’s top agents.
44 Find a CRS: Expand your network.
Balancing Act: How to cope with anxiety at work.
48 CRS Cares: Sharing an RRC member’s contributions to their community.
EDITOR
Cheré LaRose
clarose@crs.com
800.462.8841
ASSISTANT
Amelia Garza apgarza@crs.com
CONTRIBUTING WRITERS
Jason Henninger
Luanne Mandeville, CRS
Scott Mason
Myrna Traylor
BOARD OF DIRECTORS
President
Tricia Nekota, CRS
President-Elect
Vivian Macias, CRS
First Vice President
Teresa Pitt, CRS
Immediate
Past President
Holli Woodward, CRS
Members
Debra Beagle, CRS
Ellis Gardner, CRS
Mark Gordon, CRS
Bryan Hughes
Tonya Thomsen, CRS
Chief Executive Officer
Jeff Hornberger
Staff Liaison
Patricia Stodolny
Advertising Inquiries
312.321.4410
bd@crs.com
The Residential Specialist is published for Certified Residential Specialists, general members and subscribers by the Residential Real Estate Council.
The magazine’s mission is: To be a superior educational resource for CRS Designees and members, providing the information and tools they need to be exceptionally successful in buying and selling residential real estate.
The Residential Specialist is published bimonthly by the Residential Real Estate Council, 430 North Michigan Ave., Suite 300, Chicago, IL 60611-4092. Periodicals postage paid at Chicago, IL, and additional mailing offices. Change of address? Email requests to crshelp@crs.com, call Customer Service at 800.462.8841 or mail to RRC at the above address.
The Residential Specialist (USPS0021-699, ISSN 1539-7572) is distributed to members of the Council as part of their membership dues. Nonmembers may purchase subscriptions for $29.95 per year in the U.S., $44.95 in Canada and $89.95 in other international countries. All articles and paid advertising represent the opinions of the authors and advertisers, not the Council.
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COPYRIGHT 2024 by the Residential Real Estate Council. All rights reserved. Printed in U.S.A.
crs.com
Getty Images/ CONTENTS Vol. 23, No. 3
EDITOR
PUBLICATION MANAGEMENT www.glcdelivers.com Publishing Manager Scott Mason Art Director Ivette Cortes 4 Aerial View
Hornberger,
CEO 6 Real
Jeff
RRC
Talk Recap: What you missed from recent RRC podcast episodes.
9
16
34 Data Dive
8
12
Scott Mason
36
38
46
9 48 May/June 2024 2
SAVE WITH THESE PARTNERS AND MORE! RRC MEMBERS SAVE THOUSANDS on products and services they already use. With these member benefits from RRC, get money-saving discounts that benefit you, your business, and your family. Prescription Drug Card START SAVING TODAY! RRC.SavingCenter.net *Products and services subject to change.
From streamlined navigation to a simplified checkout process, we’ve focused on ensuring every member’s interaction is seamless.
Spring Forward—RRC Style
THANK YOU, VOLUNTEERS!
Spring symbolizes a time of plans and projects, embodying a season of change.
In line with this spirit, the National Association of REALTORS ® (NAR) proposed settlement this past March reinforces the unique production and education standards required for the CRS Designation, recognized as the gold standard in the industry. This commitment ensures that our members remain agile and excel amidst economic, societal and legal shifts. Through podcasts, publications and over a half-dozen free webinars since March, we’ve educated thousands of members, with more enriching courses on the horizon. These offerings are designed to complement NAR resources, equipping members with the tools they need to navigate change.
April saw the launch of a new, intuitively designed RRC website (a year in the making) aimed at enhancing member’s digital experience. From streamlined navigation to a simplified checkout process, we’ve focused on ensuring every member’s interaction is seamless. We trust you’ll
appreciate the improvements, making your experience on CRS.com faster, more intuitive and more convenient.
Yet, beyond technology, the true essence of CRS lies in our community. As a member-driven organization, we’re powered by the commitment of over 400 volunteers who dedicate thousands of hours to help us achieve our mission and support you, our valued members. Their dedication is the heartbeat of our organization and they work diligently to ensure RRC's continuous growth and success. In honor of National Volunteer Month this past April, we extend our heartfelt gratitude to our volunteers. With calls for 2025 volunteers already open, we encourage you to explore opportunities on our website and consider joining this remarkable group.
Our 36th annual Sell-a-bration® in Las Vegas was a vibrant gathering, with attendees from 48 states and 10 countries. Spanning two days, the event featured over 28 educational sessions focusing on pertinent topics. Highlighting the occasion was our first-ever graduation ceremony, recognizing over 40 new CRS Designees. If you couldn’t join us this time, mark your calendars for next year’s event in Nashville in March 2025, or consider attending Inmociónate in Valencia, Spain, this June for a global learning and networking experience. Simultaneous translation is available to attendees, so don’t let language deter you from this event!
Embedded in our 2024–2026 strategic plan is the principle of staying “always one step ahead.” This spring, as we observe the world bloom around us, we’re reminded of the vibrancy and dynamism of our community. With cutting-edge technology, a robust volunteer network, engaging events and invaluable resources, we’re poised for a season of growth and innovation.
Aerial View From the desk of Jeff Hornberger, RRC CEO Getty Images/Brandon Laufenberg
The Residential Specialist trsmag.com May/June 2024 4
SCAN TO REGISTER
The Probate Specialist Certification’s curriculum is designed to equip agents with the knowledge and skills necessary to navigate the complex probate process with confidence, empowering them to excel in this specialized niche.
CRS Designation:
Earn 4 hours of credit!
Check if this course qualifies for continuing education credit in your state.
“Great course!! The instructors were informative and entertaining. I gained a lot of useful info! 5 STARS!”
~ Rachel Bruner,
TN
LEARN SKILLS GAINED AT CRS.COM
Have you been listening to RRC’s “Real Estate Real Talk” podcast? If you’re late to the party or forgot to tune in, here’s a peek at what our expert CRS hosts have been discussing in recent episodes.
What You Missed on “Real Estate Real Talk”
Season 3, Episode 5
“Wealth Wisdom: Building Generational Wealth”
I think people are so focused on their first home being a perfect home when it’s not going to be. And we have to level with them sometimes to say, “You’re not going to be happy in the apartment; you’re going to be renting for the next two years, so why don’t you just not be happy in a home and not throw your money away?” I know it seems negative, but when you know your consumer that well, and they all see me as their big brother now because I’m 51, they trust you with their life. I’ve never worked with homeowners like this in my entire career of 20 years. This next-generation buyer loves us. And it’s not just me. They love an advisor who gets it. When you have that comfort level with them, and they’re sitting on that fence, and you can start having that talk about this investment piece, they don’t have to love it. It’s one of the biggest scripts that I use all the time: Don’t focus on loving this first house; let’s just get you one. With that mentality, you’re technically doing your own flip. That’s my first step in explaining generational wealth to consumers.
Season 3, Episode 6
“A
Conversation on Fair Housing”
Fair housing is still a challenge and it’s going to remain a challenge. There are always going to be bad actors who are looking for ways to legally discriminate or to get away with illegal discrimination. We’re going to need to continue the fight. We’re going to need our lobbyists, and ourselves as advocates and activists, to make sure that we are doing what’s right and fighting for fair housing for everyone who wants to own property or a home. But I think the thing that has resonated most with me is there are many ways to talk about fair housing. We have to dig deeper and look at the secret ways in which discrimination is happening. What are the subversive ways that discrimination is happening? Let’s talk about school scores. Let’s talk about iBuyers targeting only specific neighborhoods where they know more vulnerable property owners could be taken advantage of. It’s our job to safeguard not only those current homeowners but future homebuyers and homeowners in all areas.
Images/ Listen to new episodes and access the entire archive of “Real Estate Real Talk” episodes at www. CRS.com/resources/ real-estate-real-talk or wherever your favorite podcasts are found.
Getty
Real Talk Recap Thoughts and opinions from our podcast hosts Thoughts and opinions from our podcast hosts
Brian Copeland, CRS
May/June 2024 6 The Residential Specialist trsmag.com
Maura Neill, CRS
PERSONAL PERSPECTIVE
Stephanie Grant, CRS, standing in front of the Pipe Dream sculpture at the Smith Center in Las Vegas, Nevada. PAGE 8
Market Pulse
TRENDING HEADLINES AND IDEAS
TEAM CONFLICTS
Learn how to manage internal conflicts that may pop up on your real estate team.
PAGE 9
RESILIENCE
Agents must be agile and adaptable when navigating a real estate market in flux.
PAGE 12
SMART LIVING
Check out these six mobile apps to help agents manage their property listings.
PAGE 16
Sampsel & Preston Photography
Residential Real Estate Council crs.com May/June 2024 7
Stephanie Grant, CRS
Coldwell Banker Premier, Henderson, Nevada
How did you get involved in real estate?
CRS is superior to other designations and certifications, giving me more credibility as an agent in my community and the industry.”
I’m a secondgeneration real estate agent; my mother has been in the business for over 30 years. Living in Henderson, Nevada, I’ve worked many years in the hospitality industry—at casinos, airlines and concierge services. I grew frustrated with the glass ceilings, trying to make my way up in corporate America, and my mother got tired of me complaining, so she said, “Just go get your real estate license!” So, I went to real estate school in the evenings while working full-time in the casino industry.
What is your market like?
issue because many first-time buyers have been priced out of the market. Firsttime buyers under a certain price range can’t afford a new build. They may have to start with a condo or townhome product until they can save up some money or build equity to move into singlefamily housing.
Do you work more with sellers or with buyers?
done—but you have to want this. You have to want to be a homeowner, and it doesn’t matter what your credit looks like now. It can be rebuilt; it can be repaid; you can save money; you can get on a financial plan because homeownership is possible.”
Why did you decide to pursue a CRS Designation?
Stephanie Grant, CRS, achieved the CRS Designation in 2023. She can be reached at StephanieGrantRE @gmail.com or 702-283-0820
I work in Henderson, Las Vegas, North Las Vegas and all the surrounding markets. I also work the Pahrump market, which is about an hour’s drive from Vegas. Anything farther away, I’ll refer out. Many in the market are concerned about affordable and attainable housing, which has been an
I love assisting firsttime buyers into their first homes. Whether they’re renting or living with friends and family members, moving them from a tenant or roommate situation into owning their own home and building financial wealth is my passion. I feel many agents choose not to work with them because it’s a lot of work. Some clients will come to me with very poor credit history, but if they’re determined to become homeowners, they will do what they need to do. I’ll tell them, “Look, I’ll guide you along your journey and we will get this
I had heard about it but never buckled down to get it until I heard about the fast-track program (Pro-Program to Designation). So I thought why not? I’ve been in the business long enough and I know it’s a great designation. CRS is superior to other designations and certifications, giving me more credibility as an agent in my community and the industry.
Are you involved in any community projects?
Giving back to our community does something for my heart. I volunteer in many ways, whether on my own, partnering with our community outreach committee, nonprofit organizations, my church, or friends and family. We work alongside the Las
Vegas Rescue Mission, which provides shelter and food for our homeless community, and we volunteer serving during their dinner service. Another project is mobile food pantries. Once a month, we will set up at different high school parking lots, cars will line up and we place food in their trunks— no questions asked. Another project I really adore here is Leaders in Training (LIT), an organization that encourages and empowers high school students who will be the first-generation college graduates in their families. We mentor, support and help them with their college applications and scholarship grants to help them prepare for college or trade schools. It’s great that so many companies donate to this organization. Most of the graduates receive full-ride scholarships so they do not have to worry about working while they attend school and can focus on their grades. LIT is a wonderful program for our up-andcoming leaders who need a little support and encouragement to know they can and will fulfill their dreams.
Personal Perspective Profiles of people to watch MARKET PULSE
The Residential Specialist trsmag.com May/June 2024 8
Cracking Conflicts
By Jason Henninger
Few settings are as inherently frustrating and unfulfilling as being on a disunified team. Not everyone is a team player, but even those who aren’t naturally drawn to a group dynamic prefer a team where people get along over one that feels like it’s falling apart. It starts with a snide comment here, an unhelpful complaint there, and before you know it, the energy that could be used toward fulfilling the goal gets wasted keeping the group in one piece.
All of this adds pressure to the people leading the group. How do things slide
out of control? And how do you reclaim the peace and get things back on track?
Maria Dargan, CRS, broker associate at REMAX Revolution in Wall, New Jersey, has participated in and led plenty of teams that have run the gamut from cooperative to disjointed and angry. A bad team, she says, is marked by conflict and animosity. “People start going in different directions and lose focus of the goal.”
Dargan says the initial cause of disunity is simply a matter of differing personalities. One person just doesn’t like
Getty Images/StudioM1 Deescalating team disputes Team Conflicts
Residential Real Estate Council crs.com May/June 2024 9
Team Conflicts
how another works or talks, and the issue starts grating between people until the complaints and bickering begin. Before long, people on the team start to take things personally, which Dargan says is something she always tried to curtail. “I tell everyone, ‘Nothing is personal. You have your set of ideas, and
this individual has theirs. We have to come together and figure it out.’ You have to make sure that you eliminate any kind of stress and resentment from the conversation right off the bat. They need to understand all sides and remember that there is a common goal here that we cannot overlook,” she says.
Trouble on the horizon
Dargan says to watch out for the early signs of unrest. It could be that one person doesn’t want to be near another or tenses noticeably when the other enters the room. It could be one person shutting another down over and over. Disagreement itself is inevitable, and unity doesn’t have to mean uniformity but rather that there’s a shared purpose. “As a leader, you have to pull everybody back in,” she says. Bickering and sidebar conversations can turn a normal meeting into a noisy and uncomfortable event. “You have to say, ‘OK, enough, let’s get back to what we were discussing.’”
The role of a team leader is more than just squashing conflicts when they pop up. Part of the job is being proactive in establishing communication protocols. Clear communication paths laid down at the outset of any working relationship allow team members to feel secure in their ability to raise concerns without fearing they’ll be shut down or belittled into changing positions. Such rules of order as establishing the flow of conversation, time allotted to each speaker, formatting ways to introduce alternatives to other’s ideas or defend one’s own position all serve to keep the discussion on topic and not get lost in matters of personality. And they do so before the conflict arises.
MARKET PULSE Getty Images/Diane Labombarbe
team disputes
Deescalating
The Residential Specialist trsmag.com May/June 2024 10
Lead, don’t take sides
It is also crucial, Dargan says, for the team leader to remain neutral and calm.
“Never take sides in a conflict,” she says. Even if, in the leader’s mind, one person is right and the other is wrong, you handle it with neutrality. “Do you say, ‘You’re right,’ and ‘You’re wrong?’ Absolutely not. You encourage the individuals to discuss whatever topic and come to a mutual understanding,” she says. Active listening is helpful, but choosing sides is not.
In situations where established rules of order and neutrality don’t completely diffuse the tension, there are other options.
Press the reset button: First, you can realize that things are too derailed and that the purpose of the meeting has been lost. If this happens, it may be helpful
to stop the meeting and hope that cooler heads will prevail next time rather than try to force the issue and risk escalation of the problem.
Mediation: Another useful tool for ongoing personality conflicts is mediation. A third party not directly involved in the conflict (and ideally of some sort of higher rank in the organization) steps in to listen fairly and dispassionately while people air their grievances. Even if you are a perfectly neutral leader, having someone outside the team to mediate provides a helpful layer of distance from the conflict itself to dispel any chance of bias.
Disagreement itself is inevitable, and unity doesn’t have to mean uniformity but rather that there’s a shared purpose.
Remove a team member: The last option is to remove a person from the team, which should be avoided if possible. Even when necessary, taking someone out of the team is disruptive and leaves a gap in bandwidth. A far better solution is to have a clear goal that all team members can count on as a focal point, to bring them back to the prime point of the team, rather than cutting someone out and losing the valuable perspective they could provide.
“Each individual we welcome to our team brings something important to the table,” Dargan says. “I may not agree 100% with each person or their thought
process. But I’m going to be open to whatever they’re talking about, and then I’m going to make the best decision possible for the whole team’s benefit.”
Build your ideal team with help from our upcoming webinar, Making Your Team Click, hosted by CRS Certified Instructor Mike Selvaggio. Register today at www.CRS. com/education/ education-catalog
Getty Images/Drypsiak
Residential Real Estate Council crs.com May/June 2024 11
Resilience How to stay on track The Residential Specialist trsmag.com May/June 2024 12
When the Going Gets Tough
By Scott Mason
Shifts in the residential real estate market can result in feelings of uncertainty for agents of any experience level. Some real estate professionals will panic at the sight of volatility. However, successful agents and teams must be resilient to stay afloat during the storm of uncertainty.
Ryan Rohlf, CRS, owner of the dsmSOLD Team with Keller Williams Legacy Group in Des Moines, Iowa, says he and his team are quite resilient considering the market circumstances. “This year is already starting a lot different than last year for my team,” he says. “Last year, it was a very slow January through March for us. But now, consumers are getting used to interest rates, and it just feels more ‘normal.’”
While business is stabilizing for Rohlf and his team, it’s important to note that had they not stuck to plans and made things work, they may have been in a less favorable position this year. To help other agents, Rohlf shares strategies that have helped him and his team adapt and survive tough times.
Thinking positive thoughts
A team leader must be in step with each team member to ensure the best productivity. To accomplish this, Rohlf meets weekly with each team member to check their work status.
“With administrative staff, we talk about how operations are going,” he says. “With agents, we’re talking through their current pipeline, follow-up strategy and things like that. I’m sharing with them approaches that work for me, not things I’ve never done myself.”
Rohlf makes a point of having his staff think positively as a team. One practice he adopted is to start every morning by sharing recent successes and what everyone
is grateful for. “Even before the market change, my team will walk through what we did yesterday, what we’re doing today and list three things we’re grateful for,” he says. Team members will share these affirmations, kicking off the day constructively.
Rohlf says this has proven to keep his team focused and resilient, as there is often much negativity in the real estate industry.
“You deal with a lot of rejection in real estate,” he says.
“It gets us thinking more positively and not dwelling on the bad. We can’t control the market—but we can control what we’re doing to keep our market share and take care of our families.”
We can’t control the market—but we can control what we’re doing to keep our market share and take care of our families.”
—Ryan Rohlf, CRS
Getty Images/photoschmidt/Natalie_ Residential Real Estate Council crs.com May/June 2024 13
A FOCUS ON MENTAL HEALTH
When difficult times arise, residential real estate agents should prioritize their mental health. Ryan Rohlf, CRS, owner of the dsmSOLD Team with Keller Williams Legacy Group in Des Moines, Iowa, says that seeing a mental health professional has done wonders for his personal well-being and his business.
“Real estate agents deal with many different things—rejection, the ups and downs of the market, the cyclicity of the job. Having a relationship with a therapist has really helped me this past year,” Rohlf says. “Sometimes, having somebody looking from the outside in can help you understand what you need to do to get out of a funk.”
In a cut-throat industry like real estate, your mind is often your best asset—and caring for it should take precedence. “It links back to your productivity,” Rohlf says. “How you feel is directly connected to your motivation to do the best business.”
Hear how experts are navigating the new normal in the latest episodes of RRC’s “Real Estate Real Talk” podcast at www.CRS.com/ resources/realestate-real-talk
Patience and planning
Rohlf’s best advice for resiliency is to treat the real estate profession with the respect it deserves. He has noticed that the less successful agents are often lackadaisical or do not take their work seriously.
“The potential
income earnings within real estate are essentially endless, but you have to put the time into it,” Rohlf says. “It’s not necessarily a job that you could do in 40 hours a week.”
While some agents can perform at a high level while operating on “normal” 9–5 hours, Rohlf says that scheduling is often the key
to success. He will ask his team members, “How are you managing your schedule? Are you lead generating and making the connections that you need to be?”
He says doing these activities, even without immediate success, will bring about more business. “Sometimes, I reach out to 10 or 15 people in an hour and don’t get any responses,” he says. “It’s kind of defeating, but simply performing the tasks will keep you on the right path.”
Staying on the right path, as Rohlf puts it, will open up future opportunities for agents willing to stick with it. “So many times, I’ve gotten an email or text from a prospect or client looking to buy or sell months after my initial outreach,” he says. “And I get them because I continued to follow up.” With this motivation and mindset, agents and teams can stay resilient during any market fluctuation and build toward a better future in the business.
MARKET PULSE
Getty Images/PeopleImages/mitay20 The Residential Specialist trsmag.com May/June 2024 14 Resilience How to stay on track
Hottest Markets
Are in Cold Country
Citing a favorable match-up between job growth and expected housing starts, Zillow predicts Buffalo, New York, will be the hottest major housing market in 2024. Cincinnati and Columbus, Ohio, will follow in the No. 2 and 3 spots, respectively, with the former experiencing fast-moving inventory and the latter showing a healthy increase in the number of owner-occupied households.
Data scientist Anushna Prakash at Zillow says that healthy job growth undergirds a strong—and accessible—housing market. “Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity,” she says. Forecasters predict a tapering off of the record-high home prices and rental costs of 2023, allowing more activity in the market.
STAT SNAP
Market Typical Home Value Mortgage Payment (5% Down) Days on Market ❶ Buffalo, New York $ 248,445 $ 1,792 14 ❷ Cincinnati, Ohio $ 270,826 $ 1,959 11 ❸ Columbus, Ohio $ 301,138 $ 2,177 11 ❹ Indianapolis, Indiana $ 268,125 $ 1,944 19 ❺ Providence, Rhode Island $ 455,609 $ 3,288 14 ❻ Atlanta, Georgia $ 373,212 $ 2,701 26 ❼ Charlotte, North Carolina $ 371,844 $ 2,688 16 ❽ Cleveland, Ohio $ 215,597 $ 1,556 12 ❾ Orlando, Florida $ 388,048 $ 2,806 23 ❿ Tampa, Florida $ 375,338 $ 2,717 24 ❶ Buffalo, New York ❷ Cincinnati, Ohio ❸ Columbus, Ohio ❹ Indianapolis, Indiana ❺ Providence, Rhode Island ❻ Atlanta, Georgia ❼ Charlotte, North Carolina ❽ Cleveland, Ohio ❾ Orlando, Florida ❿ Tampa, Florida ❶ ❹❷❸ ❺ ❻ ❼ ❽ ❿❾ ZILLOW’S HOTTEST MARKETS IN 2024 Source: Zillow (stats as of January 4, 2024) Residential Real Estate Council crs.com May/June 2024 15
6 Mobile Apps for Managing Property Listings on the Go
In today’s fast-paced real estate market, staying organized and efficient is essential for success. With the increasing reliance on mobile technology, real estate agents now have access to a plethora of apps designed to streamline their workflow and manage property listings on the go. Whether scheduling showings, updating listing details or communicating with clients, these six mobile apps are indispensable tools for busy agents.
❶Zillow Premier Agent is a musthave app for real estate agents looking to maximize their exposure and manage listings efficiently. With this app, agents can instantly access their Zillow listings, respond to inquiries from potential buyers and track leads in real time. The app also offers valuable insights into listing performance, allowing agents to refine their marketing strategies and attract more buyers.
❷Managing showing appointments can be a logistical challenge, but ShowingTime simplifies the process with its intuitive mobile app. Agents can easily schedule and confirm showings, send automated showing feedback requests to clients and access property details while on the go. With features like integrated mapping and push notifications, ShowingTime helps agents stay organized and responsive to client needs.
Dotloop revolutionizes how real estate transactions are managed, offering a comprehensive platform for document management, e-signatures and transaction coordination. With the Dotloop mobile app, agents can securely create, edit and share documents from their smartphone or tablet. The app also streamlines collaboration with clients and other parties involved in the transaction, ensuring a smooth and efficient closing process.
Smart Living Tactics for professional growth MARKET PULSE
❸
The Residential Specialist trsmag.com May/June 2024 16
As a real estate agent, staying organized is key to managing property listings effectively. Evernote is a versatile note-taking app that allows agents to capture ideas, create to-do lists and store important documents all in one place. With features like voice memos, searchable notes and cross-device syncing, Evernote keeps agents productive whether they’re in the office or out in the field.
Matterport Capture is a game-changer for real estate agents looking to create immersive 3D virtual tours of their listings. With this app, agents can easily scan properties using their smartphones or compatible 360-degree cameras, creating stunning virtual walkthroughs that showcase every detail of the home. The app also offers advanced editing tools and integration with Matterport’s cloud-based platform, making it easy to publish and share virtual tours with clients and prospective buyers.
Homesnap is a powerful real estate app that provides agents with instant access to property information, market data and listing details. With features like in-app messaging, saved search alerts and integrated mapping, Homesnap helps agents stay connected and informed while on the go. The app also offers a unique “Snap and Search” feature, allowing agents to take photos of any home to instantly access its listing details and history.
Real estate agents now have access to a plethora of apps designed to streamline their workflow and manage property listings on the go.
❺ ❹ ❻
Getty Images/smartboy10 Residential Real Estate Council crs.com May/June 2024 17
naughty neighbors
By Jason Henninger
For each transaction, residential real estate agents must consider marketing, scheduling
open houses and viewings, addressing local laws and numerous other concerns. But sometimes you have to leap hurdles you didn’t even see coming, including uncooperative neighbors. We’re not talking about someone with a messy lawn or whose house could use a coat of paint. We’re talking about the in-yourface, aggressive and spiteful types who seem to come out of nowhere and cause trouble. What makes them behave like that? And what can you do to diffuse the situation or even turn it around until they’re on your side?
“A bad, difficult neighbor is not so much one who doesn’t have the property up to par. It’s a free country, and they can keep their property
however they feel like. That’s the beauty of private property,” says Jonathan Roberts, CRS, managing broker at Jonathan Roberts Realty in Charlotte, North Carolina. “I would say the difficulty comes when you have a neighbor who is angry and unwilling to communicate.” In the worst-case scenario, the neighbor is a difficult individual—someone who enjoys causing disruption and behaving rudely without any particular reason. They may interrupt your work or act in ways that deter potential buyers. They could also be a factor in why the seller decided to move. In such instances, your options may be limited, regardless of your experience and ability to get along with others. It may become necessary to involve the authorities if the neighbor poses a threat.
Getty Images/Rawpixel/Saturn_3/ PeterSnow/youngID/baytunc The Residential Specialist trsmag.com May/June 2024 18
neighbors
Residential Real Estate Council crs.com May/June 2024 19
But the good news is most people are not inclined to be unpleasant without reason. Far more common is the neighbor who feels threatened by change and may believe they have something to lose by the neighborhood changing. While not always pleasant, such people can be reasoned with if you can identify what
Allen Duhe, CRS, sales agent at Latter & Blum in Lafayette, Louisiana, had a particularly difficult neighbor but managed to get her on his side. The issue began when Duhe tried to sell a home with many unusual customizations. Duhe, whose background is in interior design, knew right away it was going to take a little finesse to sell the atypical design, but the job got a lot harder when the neighbor decided to start telling people who came to look at the place that it was a weird home, effectively driving away possible buyers.
“This lady lived next door. She’d appear at every open house I held and tell anyone who would listen what a bad floor
plan it was. She pointed out every single design flaw, though she couldn’t fault any of the actual workmanship, as this was a good builder,” Duhe says. He admits that she was right. The house was an odd one, with unconventional modifications to the kitchen and bathrooms especially. But right or wrong, she wasn’t helping.
After a few spoiled open houses, Duhe tried a new approach. He asked to speak to the neighbor after the prospective buyers had left and let her know that the longer the house was on the market, the greater the chance of her own property value diminishing.
“That got her attention,” he says. “I told her, ‘If it stays on the market for a long time, we’ll have to reduce the price, perhaps repeatedly. If it sells for a low price, that could substantially hurt resale values in the whole neighborhood, including your home. Besides, you want nice neighbors, I’m sure. Let’s see if there’s anyone you know who would make a great neighbor and help me sell it.’”
After that, the neighbor was squarely on Duhe’s side. She spoke in glowing terms of the design at open houses and even brought friends to look at the place. Before long, the home was sold.
GREY ROCK COMMUNICATION
Sometimes, people like to stir up a mess simply because they enjoy the chaos created. When speaking with an irate person, the last thing you want to do is appear angry. If they feed off the hostility, the best course is to starve them. Grey rock is a technique developed by psychologists to deal with abusive or manipulative people. It’s a state of even-keel listening and responding—not ignoring, but not engaging emotionally. Instead, you should stick calmly to facts and add no drama. The irate person will often flare up in hostility at the calmness and then burn out and lose interest.
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communication is everything
Neighborly concerns often focus on property values and the impact of changes within the neighborhood. Some neighbors might worry about the potential for shifts in the community dynamic and how these could influence local property values. This concern is sometimes heightened in areas where corporations own numerous properties for rental purposes, as a high turnover of renters might lead to perceptions of instability. However, open and friendly communication between real estate professionals and concerned neighbors can often alleviate these worries and help maintain a harmonious community.
“You have to stay reasonable even when they’re not being reasonable,” Duhe says. “The more reasonable you get, usually the more it ticks them off, but eventually they figure out you’re not a bad guy and you’re not trying to mess with them. You’re going to sell to someone who can afford the house and someone who’s going to be a good neighbor because they’re buying a nice house and investing their time and money into it.”
On occasion, a neighbor may cause problems without meaning to. For example, if they’ve lived in their home for decades, the neighbor might voice astonishment at what homes go for now and may even, without the slightest intended malice, give a prospective buyer the feeling that the house is overpriced, though it’s simply a matter of the market changing over time.
A direct talk between the agent and the neighbor will also suffice here.
Roberts says communication is the heart of the solution and, in some cases, can diffuse a problem before it gets ugly. He shares a situation in which the new homeowner realized that the previous owner allowed a neighbor to build a fence in an area that legally belonged to the new owner. Roberts quickly realized this was a case that could cause a lot of tension between neighbors. “I knew this would be a problem unless we got in front of it,” he says.
The last thing he wanted was for the new owner to say, “Hi, I’m your new neighbor. Move your fence.” Instead, Roberts opted to risk being the “bad guy,” so his client would not look like the problem. Roberts got the survey, which showed where the land was correct to be divided, and informed the neighbor. Fortunately, the neighbor agreed to move the fence without hassle, and no bad blood was created.
No one has the power to dictate someone else’s actions, which can make dealing with a difficult neighbor feel like an insurmountable challenge during a property sale. However, agents are not without resources. The key thing to note is that residential real estate agents specialize in fostering relationships. Through effective and sincere communication, they can often change even the most challenging neighbor’s attitude. This not only improves the neighborhood’s atmosphere for everyone but also enhances the agent’s professional standing.
It’s a free country, and they can keep their property however they feel like. That’s the beauty of private property.”
—Jonathan Roberts, CRS
Sharpen your skills as a residential real estate agent with our certifications at www.CRS. com/education/ certificationsand-certificates
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By Myrna Traylor
Real estate agents rely on client service and communication as the backbone of their business.
As such, agents may feel they must allow clients unfettered access to them day and night, vacations and holidays. But that kind of “super-availability” may not be the best choice—moreover, it may not be necessary in order to have a thriving business and happy clients.
Agents are finding that it may be in their best interest to set reasonable boundaries with clients to safeguard their time and ability to perform well. Some agents have set those time boundaries over the course of their careers, while others may need to shift as client demands on their time become unworkable. While setting boundaries for your time is important for work-life balance, it also supports being treated as a professional.
Jay Quigley, CRS, broker associate at Florida Executive Realty in Tampa, Florida, and immediate past president of Greater Tampa REALTORS®, sets the problem in clear terms. “If you continue to extend yourself without any clear-cut boundaries, you find that you’re working all the time. You’re taking calls and texts
If you continue to extend yourself without any clearcut boundaries, you find that you’re working all the time.”
—Jay Quigley, CRS
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at all hours of the night,” he says. “The customer or client has the impression that they should have an instant answer— almost like turning on Netflix, picking a movie and boom, there it is. We should operate as agents who are in demand, not agents on demand.”
That sentiment is echoed by Stacy Hiers, CRS, broker associate at RE/MAX Realty Consultants in Greensboro, North Carolina. “People
expect us to be on call all the time, and that’s not realistic. If we need a doctor after hours, we have to go to the emergency room; we don’t go to our regular doctor. If we need dry cleaning after hours, we can’t walk in and get it. We have to conform to business hours for other professionals. Why can’t [agents] be treated as professionals with business hours and boundaries and let people know those expectations?”
PRO TIPS FOR BOUNDARY SETTING
Greg Hanner, CRS, broker/owner of Garden Realty in Waterford, Connecticut, shared a few ideas that can make the process of controlling access to your time a bit easier.
f“Make your availability public using Calendly or another public-facing platform and have links to your schedule everywhere (email signature, website, texts, business cards, etc.). The key to making this work is putting personal obligations in your calendar to block those times off for your family or friends.”
f“Pause and turn off your availability for inbound leads when you know you won’t be available. This actually helps with your ranking with buyer lead sources like HomeLight, UpNest, OJO, Opcity and Zillow.”
f“I give Kim Cameron, CRS, credit for providing a good rationale to clients pressing for full access. She says, ‘I want you to get the best of me, not what’s left of me,’ after a long day. Our hours often start before buyers and sellers want to talk in the morning, and we often extend our work into evenings beyond business hours. Let clients know it’s OK to contact you outside of your pre-defined hours (if you can silence your phone at night or leave it outside your bedroom), and they can and should expect a response within 24 hours.”
GETTING THE MESSAGE ACROSS
Agents have different ways of informing their clients about their business hours to ensure boundaries are respected during transactions. Some, like Quigley, do it as part of introductory meetings. “It starts at the initial consultation by clearly defining [your hours of availability],” he says. “That’s the perfect time to mention it. And don’t be afraid that somebody will fire you because you set boundaries.”
You can reinforce your availability in your outgoing voicemail message by saying, “If you are calling after 7 p.m., I will respond to your message at the start of the
next business day.” Of course, this doesn’t mean an agent cannot respond if something is truly urgent. Hiers lets her clients know that she activates “the ‘do not disturb’ [function] on my phone automatically from 9 p.m. to 9 a.m. every day. And I will work outside of those hours when I need to or if I want to, but nothing is an emergency in real estate.”
Letting people know what to expect early in the relationship is important, especially since clients who rely heavily on text messages may assume that you will respond more or less immediately.
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BOUNDARIES
PART OF YOUR SAFETY MINDSET
Shawna Neuner, CRS candidate and owner-broker/salesperson at Boulevard Realty in Columbia, Missouri, became even more careful about setting bound aries when a buyer she was working with crossed the lines of their business relationship after the transaction was complete. Neuner was surprised when this buyer started showing up at the local businesses Neuner had referred her to, such as the manicurist and hair salon, at the same time Neuner was there for her own services.
The most intrusive moment occurred when the buyer and her husband pulled into the driveway of the lake house where Neuner and her husband were spending the weekend, uninvited. Neuner realized then that the other meetings hadn’t been coincidental.
“I didn’t tell people where I’d go [at the lake]; that is one of my boundaries,” she explains. “Well, over various conversations, she had tracked me and put together enough information. So, we showed up one weekend, and they pulled in behind us and wanted to hang out.”
When gentle hints that Neuner did not welcome the couple didn’t work, “We had to finally bluntly say, ‘We’re down here for our time. We need you to go ahead and go.’ And that didn’t end it. It took several more conversations until I finally had to say, ‘Look, this is very uncomfortable. If you do this again, I’m going to have to contact the police.’”
“It’s hard for some people to understand the difference between friendly and friends,” Neuner says, when she would engage in normal small talk, inquiring
about a sick pet, for example. “I started to recognize that some people would not understand and take it to be more.” She says that if her “Spidey senses” are tingling, she brings in another agent for meetings or holds conversations in the office to keep everything business-like.
Just remember to be fair and consistent with your boundary-setting, no matter the client’s price point on their home sale or purchase. “I don’t treat them any differently, whether they are buying a million-dollar property or $200,000 property. To me, it’s still the same,” says Hiers.
Check out our free webinar, Stop Overwhelm, Avoid Burnout, hosted by Maura Neill, CRS, and Real Grader at www.CRS. com/education/ education-catalog
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I have to provide the same level of service to all my clients and not let one client monopolize my time.”
—Bre Rinkema
When to Hold and When
By Jason Henninger
When Angela Peterson, CRS, sales agent at RE/MAX Southern Collection in West Columbia, South Carolina, started in real estate, she faced serious pressure.
She had lost her job, had next to nothing in the bank and was actively fighting cancer. The impetus to succeed was substantial, and as a result, she made it her policy to always say yes when it came to listings, no matter how challenging.
In the beginning, just out of school, this was a winning strategy, with results far ahead of her fellow trainees. Despite radiation treatment and multiple surgeries, Peterson sold 24 homes in her first year. But her “always yes” policy backfired with a few difficult clients. As a result, her home life and health suffered, as did her other clients. “It wasn’t worth it,” she recalls.
The drive to sell and succeed is strong for residential real estate professionals. Without that passion to close, agents wouldn’t last long in the business. But sometimes the money made from the sale comes with a price of its own, in terms of the mental strain from dealing with unpleasant, overly aggressive or otherwise unreliable clients, to say nothing of the hours of unnecessary labor spent trying to reign in an unruly seller.
While a newer agent may be hungry to establish themselves and take on any home that comes their way, many agents find over time that it pays to be aware of warning signs and know when to walk away. But this can be tricky. What are some reliable warnings to help spot a troublesome client? And at what point do you say “enough?” Should you let them down nicely or be blunt? Do you pass the lead on to a trusted colleague?
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’Em to Fold ’Em
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Time is money
“Most of us would say that we sell real estate when asked what our work is,” says Nadine Krasnow, CRS, broker and owner at Falmouth Fine Properties in Falmouth, Massachusetts. “But I learned early in my now 44-year career as a real estate agent that what I’m really selling is my time. Homes are the vehicle through which I sell my time.”
Time in general may be infinite, but your personal time is not. “Being a solo agent, I have to be selective with my time,” says Bre Rinkema, an agent at Structure Real Estate Group in Colorado Springs, Colorado. “I have to provide the same level of service to all my clients and not let one client monopolize my time. So, it’s important for me to understand the person I will get the opportunity to work with and interview them as much as they’re interviewing me.”
Trouble ahead
What red flags could indicate a client is potentially a bad fit for you?
The biggest warning of all is outright hostility. “I’ve had clients who, even in my initial consultation, have screamed at me and put me down, acting like they know more than I do. I look out for those types of people,” says Rinkema.
In some cases, prospective clients may begin by making degrading statements, claiming that the real estate business is a scam or they know more than agents do. “I made a pact with myself that when their behavior tells me they can’t control themselves, meaning when they start yelling, I will go ahead and believe them. This isn’t going to get better, and I can’t fix this,” Peterson says. After that, she walks away from the opportunity.
For Krasnow, the issue centers on whether a client will waste her time. “The question I ask myself of every interaction is ‘How will this affect my productivity?’ Actions and interactions that have a low prospect of ending in a sale go to the bottom of my list or are rejected outright,” she says. “For this reason, I don’t work with clients who are working with other agents, and I refuse listings if the seller is adamant about an overpriced value.”
Dishonest or misleading details are a red flag for Rinkema. “I want to make sure that they’re accurate about their home and don’t feel like they’re hiding anything. I do a lot of research upfront, fact-checking all the information I possibly can,” she says. “I’m getting all that information in hopes that the client will tell me upfront because then it tells me that they want to be an honest and accurate seller and not deceive a buyer.”
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Moving on
What’s the best way to part company when a client is clearly not a good fit? If there is a perceived threat, the best thing to do is remove yourself from the situation quickly. That’s not the time to be concerned about building relationships.
However, if the issue concerns personality or timing, giving them the contact information for a few other agents might be sufficient. Peterson always tries to pass along the business to someone she knows. “If they still want an agent, I’ll let them know of someone in my brokerage that is good for them,” she says. A client who is rude to one agent might behave differently with another, especially after being turned down.
Rinkema feels the best policy when letting a prospective client go is to be gentle about it. “I let them know that maybe I’m not the right fit for them and that my whole purpose as a real estate agent is finding the best fit for the right people.”
LEARNING TO SAY NO
After that, she recommends colleagues. For Krasnow, the answer lies in being direct. “Whether or not they agree, taking a firm professional position regarding the value of my time is the right thing to do,” she says. Ultimately, it comes down to setting boundaries and valuing your time more than chasing numbers. It can help to remember that making a sale may be the destination, but it isn’t the only point that matters in the journey. The journey is establishing a resilient, reliable and fulfilling career full of rewarding interactions.
When you first trained to be an agent, you were likely schooled on test prep, laws and regulations and how to make a sale. You probably weren’t taught how to turn away from a bad prospect, which may be uncomfortable.
Getty Images/RapidEye/day908/bsd studio Better manage client relations with RRC eLearning Negotiations— Evolving Client Expectations at www.CRS.com/ education Here
a
steps that might help if saying no
hard
1.
are
few
is
for you.
Determine your priorities. 2. Set and value your goals. 3. Respect your boundaries. Write down a mission statement outlining what matters most in your career. Setting goals establishes a clear vision. Honor your goals through consistency. Your boundaries may feel harsh at first and hard to maintain. But before long, those boundaries clear a path for you to go for what you want.
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BOOMERANG RETIREMENTS
By Luanne Mandeville, CRS
I began retiring over 20 years ago. Actually, I retired and unretired four times.
Looking back at my real estate career that began in 1981, I see a consistent theme: I love real estate. Becoming a Certified Residential Specialist (CRS) in 1991 was one of the best things in my career. That opened a new world of professional education, networking and referral connections. My first retirement in 2002 was a reorganization of parts of the business I enjoyed and parts I was eager to dismiss. My goal was to work about half as much and make about half as much income while still being able to resume business as usual if I chose. What do I love to do? Prospecting, marketing, listing appointments, negotiating offers and placing referrals. What would I like
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to eliminate? Most buyers. Solutions were to co-list properties for sale, refer buyers to other agents or employ an assistant to handle escrow coordination, communication, inspections and follow-up. This was a critical time for me because I had moved out of state and needed to handle business in two locations. If there was an overwhelming “why,” it was to have more leisure time—more time with my family and friends in the present, without waiting for retirement.
My next retirement was in 2014 when it became more difficult to do business in California, so I decided to focus on real estate in Sun Valley, Idaho. I sent a letter to my clients: “As I celebrate my 35th year in real estate, I want to thank all of you who have chosen me to be your real estate agent. Your trust and confidence in me have been professionally rewarding and personally meaningful. The real estate relationships I have had over the years have been such a big part of my life, and I will always be grateful. After much deliberation, I have decided the time has come for me to retire from full-time real estate in Truckee and Lake Tahoe.”
Becoming a CRS in 1991 was one of the best things in my career.”
—Luanne
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Mandeville, CRS
UNRETIREMENT ISN’T UNCOMMON
Seven-time Super Bowl champion Tom Brady announced that he was planning to return to the game, but a 2023 retirement party his friends threw changed that.
He said there were many factors to consider for a player to retire or stay retired.
“You’re only allowed one unretirement, and I’ve used it up,” he joked. Skeptics are still not sure he is really retired. Clint Eastwood, now 90 years old, has retired several times. Frank Sinatra retired in 1971, only to return two years later and continue making music until the mid-1990s.
Boxer Sugar Ray Leonard retired and unretired four times. Writer Stephen King retired in 2002, only to reemerge and write over a dozen books after that. English
musician Ozzy Osbourne retired and came back to singing three years later. “Retirement sucked,” Osbourne said. “It wasn’t too long before I started getting antsy and writing songs again.”
But back to real estate, there are many reasons to go back to work: money, new financial goals, a sense of purpose, social interaction, boredom, not enough to do, fulfillment and more. Catherine Collinson, CEO of the nonprofit Transamerica Center for Retirement Studies, said: “Twenty years ago, the vision of retirement was that we would all stop working at age 65, have cake and punch, get a gold watch and never set our alarm clocks again. We’d play shuffleboard and wear aloha shirts.”
Raffi Asdourian/John Mathew Smith 2001/Getty Images/Nature
Over 75 % of Americans plan to work past a traditional retirement age.
Tom Brady Clint Eastwood Frank Sinatra
Sugar Ray Leonard Stephen King
The Residential Specialist trsmag.com May/June 2024 32
Ozzy Osbourne
That is more myth than reality. Over 75% of Americans plan to work past a traditional retirement age. Massachusetts financial planner Catherine Valega pointed out, “Are you sure you have enough activities to keep your body, mind and spirituality occupied for the many years you have ahead of you?”
In a 2017 REALTOR® Magazine article, “Life After Real Estate,” Cindy Marchant said: “Learn to let go. It is very hard to
MY RETIREMENT TIMELINE
be fully engaged in real estate, helping hundreds of people with one of the biggest purchases of their lives, and then just stop. For anyone who’s successful, simply paring back will probably never happen. We are a competitive breed, which makes it tough to slow down. There is life after real estate, and you can continue to receive the fruits of all of those years well into retirement if you have a plan.”
f First retirement — 2002 f Second retirement — 2014 f Third retirement — 2020 f Fourth retirement — 2022 f Fifth retirement — ???
IS RETIREMENT RIGHT FOR YOU?
There are questions to ask to see if unretiring is right: Do I want to work? Do I need to work? Am I able to work? Returning to work may mean working part-time, working remotely or taking on a partner.
Skipping ahead to 2020, I retired again, utilizing the principles of Nick Krautter’s “The Golden Handoff: How to Buy and Sell a Real Estate Agent’s Business.” He has guidelines for agents to maximize their database and brand as legitimate assets that will keep paying them into the future. He says to watch for signs such as decreased interest in day-to-day real estate activities and longing for more free time. If income streams can cover expenses, it may be the time to retire, go part time or become a consultant. His method involves transferring your database to an agent who has the same values and will continue to care for your former clients on a schedule of decreasing referral fees over three years. Both the retiring agent and the adopting agent
have specific duties to ensure the success of the transition.
My attachment to the business led me to prospecting for buyers and sellers again and opening up new referral channels. But on the eve of my 75th birthday, I asked myself why I was doing this. I had enough money. I didn’t need to lie awake at night worrying about a transaction and always having my phone with me. So, I transferred my new prospects to trustworthy agents and retired again for the third time.
My company, Mountain Realty Destinations LLC, specializes in linking buyers and sellers with top professional agents in all locations. I realized that my years of experience in resort and second home markets provided me with extensive contacts. My day-to-day involvement in real estate is now limited, but I have created the mechanism to “keep my foot in the door” and satisfy the real estate commission’s requirement of being actively licensed. Will I retire a fifth time? Stay tuned …
We are a competitive breed, which makes it tough to slow down.
Plan your future with the RRC recording, Retiring? What's My Business Worth, hosted by CRS Certified Instructor Dale Carlton at www.CRS.com/ education/ education-catalog
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42 % of respondents believe now is a bad time to buy a home, down from 49 % in September 2023.
Bankrate Down Payment survey
BARRIERS TO SAVING FOR A DOWN PAYMENT
Which, if any, of the following are holding you back from affording a down payment and closing costs for a home?
EXPECTED TIME NEEDED TO SAVE
Data Dive Insights from industry data
Source: Bankrate
long, if at all, do you anticipate it will take you to save up for a down payment on a home? Less than 1 year 7 % 1–<2 years 10 % 2–<3 years 16% 3–<5 years 18% 5–<7 years 13% 7–<10 years 7 % More than 10 years 10 % Never 20 % 54% 51% 15 % 10 % 18 % 8 % 8 % 3 % Income isn’t high enough Cost of living is too high Family/friends can’t help Student loan debt Credit card debt Not interested in owning a home Something else Nothing is holding me back The Residential Specialist trsmag.com May/June 2024 34
How
SENTIMENT ABOUT THE U.S. HOUSING MARKET
Which, if any, of the following statements do you agree with as it pertains to the U.S. housing market?
Now is a bad time to buy
I’ll never be able to buy my dream home
Mortgage rates will remain elevated for the foreseeable future
A buyer needs a 20 % down payment
Renting is cheaper than owning
A buyer needs excellent credit to get a mortgage
None of these
SAVING FOR YOUR FIRST HOME
Which, if any, of the following did you do to pay for the down payment and closing costs for your first home?
my
Older generations ( 36% of baby boomers and 28% of Gen Xers) are more likely to believe they will never be able to save enough to buy a home, compared to 18% of millennials and 10 % of Gen Zers.
For more findings from the report, visit www. bankrate.com/ mortgages/downpayment-survey
Saved for
home purchase 41% Received gift from family/friends 14% First-time buyer grant or loan assistance program 14% Took money from retirement savings 9 % Moved in with family/friends to cut expenses 6% Sold personal items 7 % Additional source of income 8% Loan from family/friends 9 % None of these 27 %
42% 18 % 39 % 33 % 17 % 38 % 14%
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Building Strong Client Relationships
By Frank Serio, CRS
When I was thinking about why agents should consider new ways to add customers to their roster, this question occurred to me: Why do agents concentrate on obtaining leads who are strangers when they can engage economically with their clients and build a continuous stream of higher-quality leads who are predisposed to know, like and trust them?
A few years ago, I spoke with an agent who seemed very pleased with a service that provided him with leads that generated $50,000 in monthly business for his team—until I asked him what he was spending to get those leads. It turned out he was spending $40,000. So, after his overhead and other fees, he spent nearly 90% of his budget on marketing.
The class my co-author, James Nellis, CRS, and I will teach for the Council offers agents 101 ways to better engage today’s consumers and foster relationships with current clients— all without significant spending.
from the industry’s top educators SPECIALIZED KNOWLEDGE
Council Classroom Strategies
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HERE ARE A FEW OF THE METHODS WE WILL EXPLORE
Personalized communication
Communication is the cornerstone of any relationship.
Tailor your messages to each client, demonstrating a genuine interest in their well-being and needs by balancing personal and professional communications. Personalization fosters a sense of importance, showing that you value them beyond just a transaction.
Discounts and special offers
While budgets may be tight, offer exclusive discounts or special promotions as a cost-effective way to show appreciation to your client. It not only benefits your client but also encourages repeat business.
Regular check-ins
Stay top of mind by regularly checking in with your clients. This doesn’t always have to be about business; inquire about their personal lives or share relevant industry insights. Consistent communication reinforces your commitment to the relationship.
Exclusive content
Provide your clients with exclusive content that adds value to their knowledge of the marketplace and their homes. This includes market and industry reports, blogs, videos or webinars. Sharing knowledge not only positions you as an industry authority but also demonstrates your commitment to their success.
VIP loyalty programs
Implement a simple loyalty program to incentivize clients to stick with your services. It doesn’t have to be elaborate; be their concierge in their market. Provide free services and vendor recommendations. These simple services make clients feel valued.
Referral programs
Encourage your satisfied clients to refer your services to others and let them know you appreciate them thinking of you. Word-of-mouth recommendations are powerful in building trust. Then, keep your client updated on the progress of the referral.
Digital platforms
In the digital age, connecting with clients has become more accessible and economical. Leverage email newsletters, social media platforms and other online channels to keep your clients informed about industry trends, company updates and exclusive offers. The digital space allows for frequent touchpoints without a significant financial burden.
Frank Serio, CRS, was the 2011 National RRC President and is a senior CRS Instructor. Serio has taught in all 50 states and internationally. He is the author of numerous courses for RRC, NAR and other affiliated groups. Serio and his wife, Audrey, are the managing partners of The Serio Team of Monument Sotheby’s Coastal in the Delaware and Maryland resorts and actively sell real estate.
When planning this course, my first objective was action. What will people who take the course do when they get back to their offices—not what have they just learned, but what are they going to do? I had a philosophy instructor in college who said: “The goal of education is not knowledge. The goal of education is action.” That was 50 years ago, and I’ve never forgotten it. Because how many times have you learned something but never put it into play? In this course, you will learn and commit to a plan of action to improve your relationships and strengthen your business.
Explore more education from Frank Serio, CRS, by visiting www.CRS.com/ education/faculty
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The Creative Spark
Kyle Scheele has been called “the patron saint of crazy ideas.”
Whether he’s having a Viking funeral for the regrets of 21,000 people, hosting the world’s first fake marathon or gaining 1 million TikTok followers in just 25 hours, Scheele is always on the lookout for crazy ideas that produce wildly outsized outcomes.
Residential Real Estate Council (RRC)
with Kyle
author and Sell-a-bration® Closing Session
about creativity, failure and “going viral.”
RRC: People often think their ideas will go viral. What’s your take on virality?
Scheele: I’ve had tons of things go viral, and I still don’t know how to do it. I always simply say if it’s something you want to do and believe in, put it out in the world. There’s this thing called the Equal Odds Rule. They’ve done studies about it with scientists who publish papers. You have scientists
like Einstein, who have breakthrough papers that everyone’s heard of, but they just published a ton of papers. So, any paper from any scientist is just as likely to be famous as any other. Over time, if you put out a lot of content, you’re more likely to get lucky. Always come up with new ideas and try new things. When something works, try to figure out why that worked. Then, go to the next idea.
RRC: How does success shape (or hinder) your approach to new ideas?
Scheele: I think it’s a combination of both. Even if something is mediocre, I have 3 million followers on TikTok. A mediocre video for me will still get tens of thousands of views, so that’s helpful. It’s also helpful that I have this big audience that knows my work, and it’s more likely to resonate with them.
I’m not starting from scratch every time—they’ve seen stuff I’ve done in the past.
Don’t put that pressure on yourself, like everything has to catch up to the last best thing you did.
John Green wrote “The Fault in Our Stars,” and he said he had written a long time before he had this massive hit book and movie. Why keep writing? For him, that is the thing he loves to do. He
Marketing Matters Timely advice to promote your business SPECIALIZED KNOWLEDGE
spoke
Scheele,
keynote speaker,
The Residential Specialist trsmag.com May/June 2024 38
Kyle Scheele spoke at Sell-abration® 2024.
didn’t write to become this international sensation. I try to keep that in mind with my projects. I didn’t think anyone would care about my photoshopped family portrait, and yet it got 68 million hits.
RRC: What do you think about influencers?
Scheele: I’ve had mixed experiences as an influencer. I don’t love the term, and I don’t use it for myself. I’m a creator. I like to make things and put them out there. Figure out what your goals are. I’ve been a speaker for 14 years now and accidentally became an influencer three or four years ago. I’ve done some cool brand deals, and I can tell stories about things on stage, but if your goals and the products you’re selling don’t line up, then it can be a waste of time for the creator and the brand they represent. For real estate agents, you can end up building a huge audience. But if that audience is not composed of people who will buy real estate from you, did you meet your goal?
RRC: Staying passionate seems central to your work. Scheele: Absolutely. Pursuing what genuinely interests you is key. Viral success should not overshadow the essence of your brand. For example, something you see on X (formerly Twitter)—a person, not famous, has a tweet go viral. Then, you notice that the next three or four tweets will be about the products that they are selling. Some brands look for viral tweets and send those people a marketing proposal. If it is the only moment of virality you’re going to have, maybe take the deal. But if it isn’t authentic to your brand goals, it’s a race to the bottom. It dilutes the connection you have with your audience. I never wanted to do that. For me, it has been fun, and I didn’t set out to be an influencer. I was posting on TikTok for fun, and I went from having 17 followers to 1 million followers in 25 hours. I’m a storyteller, which is why I love to get on stage at events like Sell-a-bration®. TikTok is something fun on the side.
RRC: What advice do you have for people who might be hesitant and afraid to fail?
Scheele: First, ask yourself, “What’s the next step?” A big idea can seem overwhelming. Next, ask yourself, “If I’m going to do that, what has to come before it?” Back up the idea with what comes before until you have a place to start. You might need to Google some things or reach out to a friend with knowledge— you aren’t afraid of those tasks because they are low-stress. Take practical steps and you will realize that your idea is more doable than you thought. It helps to alleviate the fear. Finally, you kind of trick yourself. Eventually, you do enough of those tasks where you’re too far in to turn around. So, you may as well keep going.
I don’t think people are afraid of failure. I think that they’re afraid of being judged for failure. You have to negate the fear. The way I address it is by realizing nobody cares. Nobody’s thinking
about your failure. How many times a day are you thinking about someone else’s failure? You aren’t.
Years ago, I put an idea up on Kickstarter. I put all this time and effort into it, and it failed—nobody bought it. Years later, I was having coffee with someone I didn’t know, but I reached out because I liked his work and we lived in the same town. Partway into our conversation, he says, “Oh, I know who you are. You’re the guy who did that Kickstarter.” I immediately started making excuses for it and asked him not to judge me based on that project. And he said he thought it was cool that I put my idea out there. Often we think that people are following everything we do. So, when we fail, we think they see what we see. He just saw that I launched a business and was inspired by that. Remind yourself that the stakes are much lower than you think. When you fail, it isn’t over. You will learn from it and be back at it in no time.
I’m a storyteller, which is why I love to get on stage at events like Sell-a-bration ®.”
For more from Scheele, visit www.kylescheele. com and pick up his book, “How to Host a Viking Funeral: The Case of Burning Your Regrets, Chasing Your Crazy Ideas, and Becoming the Person You’re Meant to Be.”
Residential Real Estate Council crs.com May/June 2024 39
Inmociónate Connects You to the World’s Property Market
Main city square of Valencia, Spain
Visit www.CRS. com/events to learn more and register for the Virtual Summit.
Inmociónate is like Sell-a-bration® in Spain. This education and networking event is organized by RRC Global Network partner UCI and the Spanish International Realty Alliance® (SIRA). Since 2010, Inmociónate has connected Spanish professionals with their American and European counterparts.
The event boasts a history of strong attendance, with over 800 professionals from 25 countries participating in 2023. This year’s event will be held in Valencia, Spain, June 20–21, 2024.
Registration is open! Visit www.inmocionate.sira.com for more information.
DOMINATE LUXURY REAL ESTATE: RRC VIRTUAL SUMMIT WITH TOP EXPERTS
Break into or elevate your luxury game! Join CRS Certified Instructor Jack Cotton, CRS, for our exclusive 2024 Virtual Summit. Learn from a panel of luxury real estate experts on May 21, 2024, at 1:00 p.m. CST. Master pricing, conquer new markets and dominate marketing (even against TV stars!).
Get actionable strategies to win. Cotton’s panel includes:
Ivan Estrada, bestselling author and TEDx Talk presenter of “How to Build or Rebuild a Personal Brand”
Mara Flash Blum, ranked among Sotheby’s International Realty top producers and one of the top 100 REALTORS® in the U.S. (as reported by The Wall Street Journal/REALTrends)
Josh Dotoli, founder of DOTOLI Group, a real estate team ranked among the top 1% in the U.S.
G reg Gorman, CRS, and his team have served more than 4,200 families and have recorded more than $1.2 billion in sales
Getty Images/Rrrainbow
The Residential Specialist trsmag.com Your Own Council News and updates
MOTIVATION | NETWORKING | EDUCATION | TOURISM | FUN
Inmociónate is the meeting point for the top real estate professionals who aim to grow professionally and lead their market. It's a must-attend event for those who care about their professional development and value belonging to an exclusive group. A space where you can gather inspiring ideas and strong motivation to make a positive impact on society through your own business.
495€
OFFER VALID UNTIL APRIL 4TH, 2024 + 21% TAX
Offer only for attendees of Inmociónate 2024 and RRC members
19TH JUNE
20TH JUNE
21TH JUNE
MORNING MASTERCLASS
AFTERNOON INMOCIÓNATE
AFTERNOON PROPERTY TOUR ALL DAY LONG INMOCIÓNATE
INCLUDES: LUNCH AND EVENING WELCOME COCKTAIL (20TH JUNE) AND LUNCH AND GALA DINNER (21TH JUNE)
Discover Valencia, a captivating city that dazzles with its rich cultural heritage. With its warm Mediterranean climate, golden beaches, and a vibrant culinary scene that includes the famous paella, Valencia provides the perfect backdrop for our event.
info@inmocionate.com inmocionate.sira.com Phone: +34 91 337 51 05 Whatsapp: +34 637 31 56 85
QHave a great story to share? Email social@crs.com or look for discussions happening online on our Facebook, Instagram, LinkedIn and X pages.
What creative ways have you successfully presented an offer that beat the competition?
Ask the listing agent for the terms that would make the seller most likely to accept their offer. This seems obvious but some agents miss this and insist on using a particular title company that the listing agent has had a bad experience with or choose a settlement date without asking what works best for the sellers.
John Young, CRS, RE/MAX Excellence Realty, Silver Springs, Maryland
I will try to add something different than what has been said. I send a professional page at the beginning of any offer. Ellis Gardner, CRS, sent me his, and then I customized my own. It is meant to give confidence to the other agent that you know what you are doing. It discusses working together and being respectful. You can list some of the things you are involved in so they will hopefully want to work with you.
Jerry Moscowitz, CRS, RE/MAX Results, Brooklyn Park, Minnesota
I will provide full financial information for the buyers—proof of funds, a strong pre-approval lender letter or even a financial information form. I’ll also have fully complete contract forms.
Nellie Arrington, CRS, Long & Foster, Columbia, Maryland
I’ve offered more earnest money and fewer contingencies. I would not give up inspections, however.
Paul Westermeyer, CRS, The People’s Real Estate, Keokuk, Iowa
I’ve offered leasebacks so the seller has more time to move. I’ve also had the home professionally cleaned for the seller. I’ve paid their title insurance or lowered the seller’s closing costs, making it a win-win for all parties.
Marta Paulson, CRS, A V West Real Estate, Boise, Idaho
Make the offer as “clean” as humanly possible, and professionally and pleasantly submit it to the listing agent. Offer to be flexible on closing date to best accommodate the seller. Add escalation clauses where appropriate. Place a threshold that must be met in order to trigger the inspection clause to demonstrate the buyer won’t nickel and dime or withdraw for frivolous reasons.
Anne Meczywor, CRS, Roberts & Associates Realty, Inc., Lenox, Massachusetts
If the buyers have the funds, offer to pay the seller’s closing costs and commissions. I’m not a fan of escalation clauses and appraisal gap clauses.
Kimberly Efta, CRS, RE/MAX Grand, Grand Forks, North Dakota
Ask a CRS Advice from your peers
DESIGNATION NATION
&
Getty Images/bestdesigns The Residential Specialist trsmag.com May/June 2024 42
SCAN TO REGISTER
The Residential Real Estate Divorce Specialist Certification program is designed to help agents learn the family law basics so they may be more effective when speaking with clients. It focuses on the various approaches to be taken and how to best navigate process.
CRS Designation:
Earn 4 hours of credit!
Check if this course qualifies for continuing education credit in your state.
The content was exactly what I was looking for. I loved the videos and activities. I learned so much and can’t wait to try out my new skills!
LEARN SKILLS GAINED AT CRS.COM
Experience Pays Off
Iwas ecstatic when Angela Walker, CRS, reached out to me for assistance with a buyer referral.
Angela’s decision to choose me was based on my specialization in the St. Charles/Geneva area in Illinois, coupled with my extensive 24-year experience and holding the CRS Designation for quite some time.
The task was to find a perfect condo for Angela’s buyer, who desired a local agent familiar with the area. Simultaneously, Angela was representing her client in the sale of their house. We swiftly identified a suitable condo and formulated an offer with a home contingency, bypassing the complexities.
SOUTH PACIFIC
Despite our meticulous planning, challenges emerged during the buyer’s sale process. I remained confident in Angela’s ability to navigate these hurdles with her trademark expertise and efficiency. Meanwhile, I maintained communication with all parties involved in the purchase, ensuring transparency and clarity throughout the process.
Our perseverance and collective experience led us to a triumphant conclusion. Mary, the buyer, fell in love with her new condo, which was the perfect fit.
SOUTH
nmetcalf@cbpacific.com www.nancymetcalf.com
RRC Connect Expand your network DESIGNATION NATION BEN & CAROLE HEINRICH Local real estate experts in Carmel, Carmel Valley, Pebble Beach, Big Sur, Monterey & Pacific Grove for over 30 years. www.TheHeinrichTeam.com Carole, CRS, CFP RSPS & SRES Ben, CRS & CRB CRS NorCal chapter past president 831.915.7415 Team@TheHeinrichTeam.com Ben BRE License #: 00584641 Carole BRE License #: 01069022 925-200-8495 DRE# CA01005829
Rivera stands as a revered figure in the real estate world. With three decades of invaluable expertise she’s not just a seasoned professional but a guiding beacon for those navigating the intricate paths of buying and selling. For an eager first-time buyer, a savvy move-up seller, a seasoned investor, or someone just stepping into the world of real estate investment, Melodee’s insights serve as the compass guiding individuals through the twists and turns of Denver’s dynamic property landscape. 303-868-3097 TheRiveraTeam.com Melodee Rivera melodee@kw.com
WEST WEST
DENVER CO Melodee
WEST
FIND A CRS
SERVING SOUTH FLORIDA SINCE 2004 954.347.7402 LILLI@REALESTATEBYLILLI.COM Specializing in: > Fort Lauderdale > Dania Beach > Hollywood > Hallandale Beach > Davie > Plantation and surrounding areas
Kelly Crowe, CRS, Baird and Warner, Geneva, Illinois
(808) 223-9246
Ce le brating 25 years assist ing clie nts! REALTOR®, Vice President Luxury Property Specialist RB-16599 Hawaii CRS of Year, 2003 Celebrating 32 years assisting clients! Hawaii Association of REALTORS® REALTOR® of the Year 2018 Direct: (808)223-9246 nmetcalf@cbpacific.com www.nancymetcalf.com REALTOR®, Vice President Luxury Property Specialist RB-16599 Nancy D. Copp, CRS …sharing Aloha through excellence and experience… HAWAII The Residential Specialist trsmag.com May/June 2024 44
Direct:
EXPAND YOUR NETWORK & GROW YOUR REFERRALS BADGES & REWARDS IN-APP MESSAGING LIVE NEWS FEEDS CONNECT & UPLIFT CARING COMMUNITY Connect with the best at find.crs.com or via the mobile app. *Available on the App Store or Google Play
Coping With Anxiety at Work
The fast-paced world of real estate can provoke stress and anxiety.
From the pressure of closing deals to the uncertainty of the market, real estate professionals are often faced with situations that can trigger anxiety. Anxiety often stems from the fear of the unknown and a sense of lack of control over outcomes. Ignoring anxiety can lead to burnout, reduced professional performance and even health issues. Therefore,
acknowledging the signs of anxiety—such as excessive worry, difficulty concentrating, irritability or a change in sleep patterns— is the first step toward management.
Recognizing and managing workplace anxiety is crucial for career longevity and personal well-being. Whether you’re an experienced agent or just starting in the industry, these tips will help you navigate work-related stress and manage some of the symptoms you might encounter.
Balancing Act Practical strategies for restoring balance DESIGNATION NATION
Images/Delmaine
Getty
Donson
The Residential Specialist trsmag.com May/June 2024 46
PRACTICAL STRATEGIES TO TACKLE ANXIETY
1
Start your day mindfully. Begin each day with a mindful practice such as meditation or deep breathing exercises. These practices can help you start your day with a calmer, more balanced approach, leading to a positive outlook on completing your daily real estate tasks.
4
2
Identify your triggers. Keep a journal or use voice notes on your phone to track situations that provoke anxiety, such as difficult clients or certain process steps. You might be able to avoid certain triggers, or if you can’t, at least prepare by reminding yourself that you have survived a similar situation before and will again.
Cultivate a supportive network. Build relationships with other agents, staff or vendors who can offer support. Engaging with a mentor or joining a real estate professionals’ group to share experiences can make you feel less isolated in your struggles.
5
Embrace transparency with clients. Set realistic expectations about timelines and potential challenges with your clients, like inspections and the closing process. Being transparent builds trust and helps manage both your and your clients’ anxiety.
6
Take breaks to disconnect. Short, frequent breaks throughout the day can help reset your focus. Step away from your desk, go for a walk or do a short stretching routine to alleviate tension.
7
Plan for and practice responding vs. reacting. Stressors will pop up, so learn how to best handle them. When confronted with a stressful situation, like an unhappy client or an issue with a transaction, give yourself a moment to breathe and think before responding. This small pause can mean the difference between a panicked reaction and a thoughtful response.
The role of companies in supporting employees
Real estate companies can support their agents by recognizing the stressful nature of the work and providing resources to cope with anxiety. This could include:
f Offering access to mental health days and resources.
3
Organize your tasks. Use organizational tools like planners and calendar apps to tackle the “overwhelm.” Prioritize tasks according to urgency and importance—some client communications can wait for other more important items to be completed. This visual representation of your workload can help you manage time and decrease stress.
8
Seek professional help. If anxiety starts to interfere with your work or personal life, consider talking to a mental health professional. Cognitive-behavioral therapy and other counseling techniques have been shown to be highly effective for anxiety.
f Organizing wellness workshops and professional development sessions focused on stress management.
f Encouraging a company culture that values work-life balance and sets realistic expectations for employees.
f Providing access to resources such as employee assistance programs or mental health benefits.
Anxiety disorders, such as generalized anxiety disorder, panic disorders and obsessivecompulsive disorder, affect more than 40 million Americans, making them one of the most common mental health challenges in the country.
Getty Images/Kubkoo
Residential Real Estate Council crs.com May/June 2024 47
I f you’re an agent who is interested in being a part of Agents vs Cancer, Ravenscroft is working on building out the program nationwide to all cities—especially those that have major or minor league baseball teams to offer these experiences to children battling cancer. To learn more, contact Ravenscroft at eric@theravenscroft group.com or 805-815-5695 .
Pitching Hope
In the realm of real estate, Eric Ravenscroft, CRS, sales agent and owner of The Ravenscroft Group | Real Broker in Buckeye, Arizona, stands out not only for his expertise but also for his unwavering commitment to making a difference in the lives of others.
As a CRS, Ravenscroft brings a unique blend of professionalism and compassion to his role as a residential real estate agent. However, what truly sets him apart is his dedication to volunteer work, particularly his involvement with Agents vs Cancer, an organization aimed at providing life-changing experiences for children battling cancer.
Ravenscroft’s involvement with Agents vs Cancer stems from a long-standing dedication to nonprofit work since 2006. Recalling his inspiration to start volunteering with the organization, he explains, “During my time in Portland, Oregon, my wife and I played pivotal roles in establishing a board and young professionals network aimed at offering meals, activities and events to families with children battling cancer and seeking treatment nearby through the Ronald McDonald House Charities.”
Highlighting the significance of his volunteer work, Ravenscroft says, “While my passion for assisting families with children battling cancer has always been strong, it intensified when my wife and I welcomed our first child, Leo, in 2022.
Eric Ravenscroft, CRS, works to create life-changing experiences for children battling cancer.
Rodriguez, a young baseball enthusiast battling stage IV high-risk neuroblastoma.
“We invited him to throw the first pitch at a spring training game. Witnessing the joy on his face, along with the gratitude, tears and appreciation from his parents, was truly heartwarming and the highlight,” says Ravenscroft. Leveraging his connections within the MLB and the video game industry, Ravenscroft also secured Rodriguez his own limited-edition version of the MLB The Show, a PlayStation video game, further cementing the significance of this unforgettable experience.
How do you give back to your community?
Share your story and photos to social@crs.com for a chance to be featured in future issues of TRS!
“We regrettably had to relinquish our roles in Oregon but swiftly become involved with the Ronald McDonald House in Arizona,” he adds. “An opportunity arose for me to collaborate with a friend from my hometown in California to provide distinctive experiences to children fighting cancer through sports, particularly baseball. It was an opportunity I couldn’t resist.”
The partnership between Agents vs Cancer and Major League Baseball (MLB), launched last year, has already yielded incredible moments for children like Julio
Ravenscroft’s commitment to giving back extends beyond his volunteer efforts—it permeates his approach to real estate. “Being an agent is more than just facilitating transactions; it’s about showcasing the significant impact one can have on the community,” he states. “We need to transcend the role of merely being real estate agents and actively engage in giving back to our communities and making a positive difference in the lives of others.”
Reflecting on the impact of volunteering on his career, Ravenscroft notes: “Volunteering and community involvement have greatly benefited me as an agent. They’ve helped me build strong connections, gain insights into community needs and showcase my skills.” He concludes, “These experiences have made me a better agent, enhancing my credibility, expanding my network and enabling me to better serve my clients.”
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The Residential Specialist trsmag.com May/June 2024 48
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