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Heading
By Michelle Huffman
By Annika Tourlas
By Michelle Huffman
By Meredith Landry
4 Aerial View
Tricia Nekota, CRS, RRC President
6 Personal Perspective: Todd Urbanski, CRS, Fazendin Realtors, Minneapolis/ St. Paul, Minnesota
7 Giving Thanks: Learn the best ways to show appreciation for client referrals.
By Annika Tourlas
10 Keys to Succeed: Key performance indicators (KPIs) offer agents the opportunity to identify strengths and weaknesses.
By Scott Mason
14 Election Education: Learn more about the RRC election cycle.
16 Smart Living: Don’t forget these important year-end tasks for your business.
Data Dive
Insights from industry data.
Specialized Knowledge
Council Classroom: Make real estate investment education a priority.
Marketing Matters: Gift ideas for this year’s holiday season.
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.
46 Balancing Act: How to manage work relationships while using social media.
48 CRS Cares: Helping veterans secure housing and other services.
EDITOR
Cheré LaRose
clarose@crs.com
800.462.8841
ASSISTANT EDITOR
Amelia Garza
apgarza@crs.com
CONTRIBUTING WRITERS
Michelle Huffman
Meredith Landry
Regina Ludes
Scott Mason
Annika Tourlas
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
PUBLICATION MANAGEMENT
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.
POSTMASTER: Please send address changes to:
The Residential Specialist, c/o Residential Real Estate Council, 430 North Michigan Ave., 4 th Floor, Chicago, IL 60611-4092.
Publishing Manager
Scott Mason
Art Director
Elissa Chamberlain
COPYRIGHT 2024 by the Residential Real Estate Council. All rights reserved. Printed in U.S.A.
Moments of appreciation ground you and remind you of what truly matters.”
An Attitude of Gratitude
Starting each day with an attitude of gratitude is one of the most powerful habits you can develop. It sets the tone for the day, creating a ripple effect—like a wave—that influences how you interact with the world around you. When you wake up with a grateful heart, you’re more likely to focus on the positive aspects of your life, which can lead to better mental, emotional and even physical well-being.
Gratitude is a mindset. It’s not about ignoring challenges or pretending everything is perfect; it’s about choosing to focus on what’s good, even in difficult times. This simple shift in perspective can make all the difference. Rather than waking up and immediately thinking about the stressors or tasks of the day, you can take a moment to reflect on what you’re thankful
for. This might be your health, the roof over your head, the people you love, or even small things like a good cup of coffee or a beautiful sunrise. These moments of appreciation ground you and remind you of what truly matters.
One practical way to start your day with gratitude is by keeping a gratitude journal. I have one! Before diving into your busy day each morning, write down three things you’re thankful for. These don’t have to be big or profound. Often, it’s the simplest things that are the most powerful. By physically writing these things down, you’re reinforcing the positive thoughts and making them more real. This daily ritual doesn’t take much time—1–2 minutes tops. It can make a significant impact on how you approach your day. I wholeheartedly believe this.
I would be truly remiss if I did not take this opportunity to express my deepest gratitude for the unforgettable journey I have experienced during my time as President. This role has been an incredible privilege, filled with opportunities to witness firsthand the impact of our collective efforts and the dedication of each member of our organization. Every challenge we faced and every milestone we achieved was made possible because of your passion, hard work and commitment.
This journey has not only been about leading but also about learning. I have learned the true power of teamwork, the importance of resilience and the remarkable impact we can have when we come together toward a common goal. The connections I have made, the stories I have heard and the support I have received throughout this time will stay with me long after my term ends.
I am deeply grateful for the trust you placed in me. It has been an honor to work alongside such talented and dedicated individuals. I am immensely proud of everything we have accomplished. This experience has enriched me both personally and professionally, and I will forever cherish the memories of this incredible journey as your President. Mahalo nui loa (Thank you) for your belief in our shared mission and for allowing me to serve you.
Aerial View From the desk of Tricia Nekota, CRS, RRC President
PERSONAL PERSPECTIVE
Todd Urbanski, CRS, is passionate about promoting and giving back to the Minneapolis/ St. Paul, Minnesota, community.
PAGE 6
Market Pulse
TRENDING HEADLINES AND IDEAS
REFERRALS
Showing proper appreciation to agents who refer business your way can lead to future opportunities for success.
PAGE 7
KPI s
Determining a set of key data to track and analyze offers a different view of how to improve your business.
PAGE 10
SMART LIVING
As we inch closer to the end of the year, don’t forget about these important tasks to keep your business strong.
When I was just out of high school, I interviewed with a real estate company. I knew nothing at that point, and they told me to go away and come back in 10 or 15 years. So, I became a plumber for about four years. I learned a lot about how homes were built and how systems work (which has helped me out a lot over the years), but eventually, I realized that I had a little bit of a bad back, and I couldn’t lift water heaters and cast-iron tubs for the rest of my life. I looked at real estate again, and that was 1999. I got my license and have been doing it for 25 years.
How did you learn about the CRS Designation?
have CRS agents in our office who would have said, ‘Hey, you should come with me to this event.’ I think I got a flyer about a class and went for it. My first class with CRS might have been a Chris Bird class. It took me a while, but I got my CRS Designation about two years ago. I think CRS offers some of the best education and speakers you can find in our industry.
What is your market like?
that type of stuff, so we’re insulated that way. We’ve got over 10,000 lakes— it’s really hard to visit even half of them. A lot of people consider this to be flyover country until they stop by and visit us. There’s a reason Prince stayed here.
What is your approach to business?
years. Currently, I sit on the planning commission for the city of Chaska. I’m also a volunteer ski patroller. I sit on the National Association of REALTORS® Board of Directors and I am a past president of the Minneapolis Area REALTORS®. I’ve always enjoyed giving back to the community and to the industry.
Todd Urbanski, CRS, achieved the CRS Designation in 2023. He can be reached at todd@fazhomes. com or 612-8653644
I’ve always enjoyed the education aspect of the business while trying to stay ahead of the competition. Back then, the brokerage I was with wasn’t necessarily promoting those things, and we didn’t really
We’re doing OK here in the Twin Cities and the surrounding suburbs. It’s slowed down a bit through July, but we expect it to pick up again. We will probably end the year with about a 4% overall appreciation, which is good. We still have a lack of inventory here, just like everywhere else, but we are starting to see inventory levels increase a little bit. It’s a great place to live. It’s a great place to work. We don’t have hurricanes, a lot of wildfires, earthquakes or
When I got into real estate, I worked with a small developer and sold new construction for about seven or eight years. After a while, I transitioned to management at the brokerage I was working with until I realized I wanted to be in sales again. I joined a more customer-oriented company and went all in with “ninja selling,” where I have an entirely referral-based business. It’s all about building relationships with the customers over time, so if a past client isn’t going to sell anytime soon, they probably know three or four people who will sell over the course of a year.
Do you participate in any community service activities?
I was a volunteer firefighter for 17
Have you had any unusual transactions?
The strangest listing I ever had was a referral from another agent about five or six years ago. One of the owners was a doll collector. There were probably 300 to 400 dolls inside the home. And they weren’t just Barbie dolls—some were the size of small children. The couple had them set up in the bedrooms at little tea tables and in big display cases, and it was eerie. I let them know that selling the house with that many dolls would be really hard, and they took 98% of the dolls out of the house. They left a few—the ones at their little tea table upstairs, which I know freaked out a few buyers.
By Annika Tourlas
For agents, referrals are the lifeblood of sustained success and can transform potential leads into valuable relationships and transactions. However, it’s not just about receiving referrals; showing appreciation for them is equally crucial.
The power of referrals Referrals come from a place of trust and are a testament to your expertise and professionalism. When another agent or a satisfied client recommends your services, they’re vouching for your ability to deliver exceptional results.
“We’re in the relationship business,” says Liz Smith, CRS, REALTOR® at RE/MAX Results in St. Louis, Missouri.
“When I do referrals, I want the agent I worked with to feel confident in my abilities and feel good about their client being taken care of.”
A referral has the power to improve the transaction for both the agent and the client, making it a desired practice that takes time to build. After establishing a base network and a reputable name for yourself, your business can soon see the benefits of referrals, including:
Giving Thanks
As you develop those relationships, you can reach out to people for advice on business challenges, marketing ideas and more.”
—Liz Smith, CRS
Referrals Appreciate those who provide business opportunities
f Enhanced trust and credibility: When someone refers a client to you, they transfer their trust in you to the referred party, making the client more likely to believe in you.
f Network expansion: The real estate industry thrives on connections, and each new client can lead to more referrals, creating a ripple effect. By continually nurturing these relationships, you can build a diverse client base.
f Cost-effective marketing: Traditional marketing methods can be expensive and time-consuming. Referrals, on the other hand, are a cost-effective way to attract new business.
f Market expansion: Agent-to-agent referrals help you branch your business into new markets, from luxury real estate to rentals.
“Agent-to-agent referrals are the best way to add to your database,” says Smith.
cards to local restaurants
baked goods
“As you develop those relationships, you can reach out to people for advice on business challenges, marketing ideas and more. So, the relationship becomes more than just about the referral.”
Expressing gratitude
When someone takes the time to refer a client to you, they are not only helping your business grow but also risking their own reputation. Therefore, it’s essential to convey your gratitude in a meaningful way.
Expressing thanks goes beyond mere courtesy; it helps cultivate a culture of reciprocity within your network. Whether the referral resulted in a transaction or not, showing appreciation to the agent is a sign of someone who goes above and beyond.
“You acknowledge and thank the action of somebody giving you a referral. You don’t thank the outcome,” says Kate Johnston, CRS, broker-owner of Key Realty in Redmond, Washington. “They thought of you as the person to come to for a referral. So, you need to honor them and thank them right away.”
How to show appreciation for referrals
Expressing gratitude and cultivating your agent relationships doesn’t have to be complicated or expensive. Personalizing your thank-you’s with these tips adds a special touch that clients and agents will remember for years to come:
1. Handwritten personalized thank-you notes
A handwritten thank-you note is a tangible expression of your gratitude, carrying with it the sincerity of your appreciation. Whether you’re checking in on an outbound referral or thanking a colleague for their referral, don’t underestimate the power of a handwritten note.
2. Referral gifts
Pairing your note with a thoughtful gift shows how much you truly value the relationship. It doesn’t have to be expensive; a small token of appreciation that speaks to one’s interests or needs does just as much as an extravagant gift.
“I’m a big believer in personalization and taking a few minutes to think about a gift that will be useful and something that somebody will appreciate,” says Johnston. “I put some thought and creativity into it so that there was a good association with my expression of appreciation and that I’m going to serve the client well.”
3. Public recognition
If the referrer is comfortable with it, publicly acknowledging their support in a newsletter or social media post can be a great way to show appreciation. Public recognition not only makes the referrer feel valued but also highlights your strong network to potential clients.
4. Regular updates
Provide regular updates on the client’s progress to keep previous agents in the loop to show you’re actively working on their referral.
However, updates don’t have to end there; consistently updating your network proves you value their support. Smith develops a custom holiday card with her year in review, detailing information like how many houses were sold and a fun look into her personal life.
“We all work for a brand, and who you are is your own personal brand,” says Johnston. “You want to represent excellence, quality and professionalism. And being a professional person means you handle referrals with care.”
Find your next great referral partner at find. CRS.com or by downloading our Find a CRS app!
If you don’t have a goal, then what are you even doing?”
—January Johnson, CRS
Keys to Succeed
By Scott Mason
Data collection and analytics are essential to monitoring a business’s success and making improvements. Every industry has unique data points and sets that allow business owners to align their goals with results.
Business owners with experience in collecting data know that when you first start your data endeavor, the sheer volume of results can make it difficult to see the forest for the trees. Too much data can distract from your objectives, so experienced professionals recommend identifying a few data measurements to focus on more intently, called key performance indicators (KPIs).
KPIs are not just data points; they are tools that provide teams with clear targets and benchmarks for measuring progress and valuable insights for better decision-making. For residential real estate agents, the KPIs you choose to focus on can cover a wide array of business areas, from marketing to revenue to sales efforts. Which KPIs you decide to track will depend on your business’s needs and areas for improvement. Here, we will dive into the details to help you make these decisions.
An important undertaking
Determining which KPIs work best for your business model and properly tracking them is crucial for residential real estate agents. January Johnson, real estate agent with The Short Term Shop in Panama City, Florida, says measuring the right things with a clear goal in mind is a must. “If you can’t see it, you can’t manage it. And if you can’t manage it, you can’t move it,” she says. “And if you don’t have a goal, then what are you even doing?”
Johnson likes to set yearly sales goals and use KPIs to keep her honest in her efforts to achieve them. “I have a goal for the year of $15 million closed, which is $1.25 million a month,” she says. “To figure out if I’ll reach that goal, I track how many deals are in my pipeline, how many contracts I have right now and how many I have closed. And right now, I am exactly on track for the whole year.”
What are you tracking?
Determining the correct KPIs for your business needs and goals should be at the top of every agent’s list. Here are a few examples of KPIs that can prove to be valuable.
The Benchmarki ng G ame
Tracking key performance indicators (KPIs) can allow agents to compare their success to that of their peers. January Johnson, real estate agent with The Short Term Shop in Panama City, Florida, tracks her data via Follow Up Boss, her brokerage’s customer relationship management platform. But the fun part, she says, is that it will show agents company leaderboards, turning stressful work into a fun competition. “I like to see a scoreboard,” Johnson says. “I’m motivated by that—I like to win.”
While she’s not competing directly against the other agents on her team, she likes to see how she stacks up, inspiring her to improve. “It gamifies those tedious tasks you’d be doing anyway,” she says. “When I saw Follow Up Boss offered scores for emails sent, texts, phone calls made and appointments set, I was so happy.”
Sales volume
Tracking your sales volume can offer insights into the health of your business. Agents can go about this in two ways. First, they can add up the total property values for all of the properties they’ve helped sell. Or, if their real estate business is a bit more diversified, they can break it down into specific categories, like investment properties or rentals, for example, to see which lines of business are doing best and which they may want to pay more attention to.
Conversion rates
Recording your success rate in taking initial client appointments and converting them to confirmed listings can be a huge help for your business. If you see your appointment numbers are steady, but your listings are slipping, it may be wise to change your approach to better capture customers’ trust.
Take your business to the next level with our Digital Marketing: Social Media certification at www.CRS. com/education/ certificationsand-certificates
Calls made
Keeping track of how many outgoing calls you make can help you evaluate the time you dedicate to your business’s lead conversion stage. Johnson places a higher value on phone calls than texts or emails. “The only thing that matters is what you sell, but activity is related to that. I want to make sure that I am constantly touching the people in my warm database,” she says.
Johnson says she will check the MLS activity of her warm leads to see how often they’re using the service. “I’ll usually try to call the most active and the least active to gauge where they are in the process,” she says. This allows her to always have her pipeline filled and know when to back off from those customers who may not be ready at the moment.
Digital marketing success
In an age where so much real estate marketing is done online, tracking the success of your digital marketing efforts can provide valuable insights. Look at the open and click rates of your email campaigns and see what types of content are best attracting your recipients’ attention. If you do any targeted or pay-per-click advertising, determine from what sources you’re getting the most traffic and focus on spending in those areas to get more inbound leads.
Client feedback ratings
The customer is always right, and client feedback or ratings can help provide valuable data to determine whether your performance is up to snuff. Any downward trends you see in actual score ratings or even the volume of people leaving you feedback may require you to reevaluate the care and service you’re providing to your clients.
Income
After factoring in operational costs and expenses, agents can track their projected monthly or yearly income to better understand their financial situation. To keep her income goal top of mind, Johnson uses this number as her computer password. “Every time I have to put in my password to unlock my screen, I am physically reminded of my goal for this year,” she says.
Putting plans into action
Even with the best planning and tracking of KPIs, an agent is only as good as the effort they put into improving their business. Johnson lives this in her daily business. “People will say, ‘It’s the thought that counts,’ but it isn’t,” she says. “The thought is important, but only action matters.”
Sharp Increases Vex Renters
Redfin’s analysis of rents in the U.S. has shown that the median household income needed to make the average rent is $66,120. That figure is only slightly lower than the highest median income needed in October 2022 when the average asking rent peaked at $1,700.
The trouble is only 39% of typical renters make that figure. Instead, Redfin says, “the U.S. renter household earns an estimated $54,712 per year.” Redfin based their affordability score on the assumption that people would be putting no more than 30% of their income toward rent.
Still, average wages are showing small but steady growth while asking rents are charting as “flat” as landlords back off of historically high rents requested during the pandemic. In fact, year-over-year changes in rents are running to -1.1% to -10.3% in Sun Belt metro areas like Atlanta, Dallas and Jacksonville, where a boom in pandemic-era construction has created a glut of vacancies. Most other metro areas are showing increases between 0.5% and 11.1%.
Source: Redfin
Residential Real Estate Council Leadership Cycle
Member Voting Period
Voting for the First Vice President and Board of Directors opens after Sell-a-bration ® or by April 1.
Outside Board Member Selection
Presentations at Sell-a-bration ®
Candidates for the First Vice President and Board of Directors present during the RRC’s Sell-a-bration ® event in March.
Town Hall via Zoom
March
Post-Sell-a-bration ® or April 1
February
Get involved as an RRC volunteer and start making an impact today at www.CRS.com/ membership/ volunteeropportunities
Outside board member selections are completed during the summer. 8 9
Late Spring/ Early Summer
In February, a virtual town hall is held, providing candidates the opportunity to present to members and answer questions.
December 1–
March
7
Campaign Season
The campaign season runs from December 1 through March, allowing candidates to engage with members and share their platforms.
This timeline outlines the important phases in RRC’s election process.
First Vice President/Board of Directors Application Period
1
The application process for the First Vice President and Board of Directors roles begins in early September and remains open through mid-October. During this period, eligible members can submit their applications.
2
Open Zoom for Interested Candidates
In mid-September, an open Zoom session is held for interested candidates to learn more about the roles and ask questions.
Phone Interviews for Applicants
3
6
Candidates Announced at the RRC Conference
Candidates who will advance in the election are officially announced at the RRC Conference.
Candidates are interviewed by Leadership Development Committees (LDCs) for 20–30 minutes via phone, determining who will proceed to the next stage.
Candidate Reference Check
Reference checks for shortlisted candidates are conducted in late October.
4 5
In-person Interviews at the RRC Conference at NAR NXT
Finalists for the First Vice President and Board of Directors positions attend in-person interviews during the RRC Conference at NAR NXT.
Winter Reset
Essential Year-End Tasks for Your Business
As the year draws to a close, winter offers a prime opportunity for real estate professionals to step back, assess their business and prepare for the upcoming year. While the winter se ason may bring a slower p ace, it’s the perfect time to focus on essential tasks that will set you up for success once the market picks back up in the spring. Here’s a comprehensive checklist agents should prioritize before the year ends.
1. Review and update your client database. When was the last time you sifted through your data pool? Winter is an excellent time to ensure your client database is accurate. Take the time to purge outdated contacts, update information and add any new leads you’ve collected throughout the year. Having an organized and updated database makes it easier to send targeted marketing campaigns and stay in touch with your sphere of influence.
3. Refresh your marketing materials. Take a critical look at your website, brochures, business cards and social media profiles. Are your headshots current? Does your branding align with your professional image and goals? Make sure all your marketing collateral is polished and consistent across platforms. Consider updating your website with testimonials from satisfied clients, success stories and any certifications or awards you’ve earned during the year. Also, look at your social media profile. Ensure your bios, contact information and profile pictures reflect your current business focus.
2. Prepare for tax season. As the year wraps up, organizing your finances and preparing for tax season is crucial. Gather receipts, review your income and expenses, and ensure all your records are accurate. This includes categorizing business expenses like marketing, travel, home office supplies and client gifts. If you’re unsure about what qualifies as a deduction, consider consulting with a tax professional who specializes in real estate. Taking proactive steps now to manage your finances will not only reduce your stress come tax time but could also save you money through potential tax write-offs.
4. Reflect on the year and set new goals. Before diving into the new year, take time to reflect on the past year’s successes and pitfalls. What worked well for you regarding lead generation, client satisfaction and transaction volume? Where do you see room for improvement? Use this reflection to set specific, measurable goals for the year ahead.
5. Plan your marketing strategy for the new year. A well-planned marketing strategy is essential for staying top-of-mind with clients and prospects. Use the winter months to create a content calendar, plan email campaigns and map out social media posts. Consider running winter-specific promotions or sharing content related to seasonal home buying or selling tips. Investing time in planning your marketing now will help you hit the ground running come spring.
6. Set up networking opportunities. Finally, winter is a great time to network with colleagues, potential clients and other industry professionals. Whether through virtual events, local holiday gatherings or social media, use this quieter season to build connections that could lead to future opportunities.
Predicting
the road ahead
By Michelle Huffman
After experiencing a surge in home prices like we’ve never seen before—and may never see again—real estate experts are predicting that 2025 will usher in a more stable real estate market.
According to the Case-Shiller National Home Price Index, home prices increased by 47% from 2020 to 2024. That’s more growth in four years than in the entire decade prior.
However, things began to slow down in 2024, and several real estate experts from the Residential Real Estate Council and the National Association of REALTORS® say we may be looking at a new normal in terms of home prices, interest rates and inventory levels.
Here are their top four predictions for the real estate market in 2025.
The market will stabilize, posing challenges and opportunities for both buyers and sellers.
While all real estate is local, and certain pockets will remain hot (see sidebar), overall, the experts predict balance and stability across the nation.
“It looks like we will continue to see slowly increasing inventory—which we need—but it does not appear that this will move completely to either a seller or a buyer market,” says Dale Carlton, CRS, broker-owner at Carlton Realty, Inc. in Fayetteville, Arkansas, and a CRS Instructor.
His comments are echoed by fellow CRS Instructor Mike Selvaggio, CRS, broker-owner at Delaware Homes, Inc. in Townsend, Delaware: “There may be a shift toward the buyer’s market with an increase in supply
that’s been generated by builders and developers, but probably not enough to make a dramatic difference.”
Stacy Hamilton, CRS, associate broker and executive director of Little Rock Realtors Association in Little Rock, Arkansas, warns that newer agents may experience this upcoming year as a down market compared to the past few years, but she sees it as steady.
“Houses will continue to enter the market and sell, but list periods could extend to six months or so. Buyers will have more options when shopping for houses but not an abundance of options,” she says. “This is a market where buyers can take time to seriously consider a home without the pressure of acting on a whim. Sellers will need more counseling and guidance as their homes remain in the market for longer listing periods.”
Interest rates may ease, but buyers should get used to them where they are.
The Federal Reserve Board has hinted it will begin lowering the federal fund rate by the end of the year, which would trigger mortgage interest rates to recede.
Jessica Lautz, deputy chief economist and vice president of research at the National Association of REALTORS®, says this could have three potential effects: bringing new buyers to the market, causing builders to ramp up housing starts and loosening the “lock-in effect” where homeowners don’t want to sell because their lock-in rate is so good.
“Consumers will jump into the market if rates are as low as 5.5%,” says Lee Barrett, CRS, broker/owner at Barrett and Co., Inc. in Las Vegas, Nevada, and a CRS Instructor.
Hot Markets in 2025
Sunbelt cities: Austin, Phoenix and Tampa will continue to attract buyers due to their favorable climate, lower cost of living and growing job markets. West Coast tech and other niche hub cities: Seattle, San Francisco and Raleigh will remain resilient due to ongoing demand for housing from professionals.
Source: Mike Selvaggio, CRS, and Lee Barrett, CRS
But it’s unlikely we will see rates that low, the experts say, so it may yet take years for these locked-in homeowners to turn over their keys. Instead, it’s important to normalize rates at 6% and 7%.
“The reality is that we must continue to encourage buyers to ‘marry the house and date the rate,’” Selvaggio says.
In 2025, CRSs need to “retrain buyers on what a more normal interest rate looks like,” Hamilton says. “The incredibly low rates of 2%–4% were not the norm but a small period in our history. We will not see rates that low again for a long time.”
Inventory may improve, but it may not help affordability.
Inventory has been pervasively sluggish over the past few years, but the experts hope housing inventory will improve in 2025. Besides the dropping interest rates that might bring more sellers out, there are other factors at play that may help inventory, including greater economic stability, policy interventions and homebuilders ramping up production to meet demand, Selvaggio says.
Carlton especially hopes that with the added inflation costs of 2021–2023 behind us, builders will be able to bring more affordable housing to market. While he has seen inventory grow in higher price ranges, the shortage of properties in lower, more affordable price points persists.
“Each geographical area of the U.S. has different price points, but all seem to be experiencing similar scenarios,” he says.
Selvaggio agrees: “This is a very real and important piece of our business, and I only hope it can be addressed in the near future.”
Artificial intelligence will start to shape real estate analysis.
Analytics driven by artificial intelligence (AI) are on the market and moving into the hands of agents who are willing to learn how to use them.
“The better AI gets at predicting behavior, the more we are going to see agents able to use AI to identify potential sellers accurately, provide price estimates at a more accurate level, and understand what upgrade and improvement trends will better impact the value of a home,” Carlton says. “We have always had access to great
Home Price Growth
2.5 % predicted home price growth in 2025
Housing market media and research company ResiClub reported mid-year on the home price growth predictions made by major forecasters. Here’s a sampling: Goldman
%
Source: ResiClub
data; now we have access to analyze great data in a phenomenal way.”
Of course, AI is no silver bullet, Barrett says. For example, Selvaggio’s experiments with AI yielded a listing description that boasted the ability to “entertain in the beautifully remodeled owner’s bath and hall bath.”
For her part, Hamilton hopes to see MLS improve its features to match what’s coming out on the market.
All advise that agents stay up to date with these new technologies, including virtual reality and augmented reality for tours, drone photography, and tools for design, communication and planning.
Register for our upcoming webinars to ensure you’re preparing your business for 2025 at www.CRS. com/education/ education-catalog
BACK
IN THE
FOLD
By Annika Tourlas
In the highly competitive real estate industry, client retention is a top priority.
Loyal customers help sustain success and expand networks, keeping you well-connected and on top of sales. While an agent’s goal is never to lose a client, having a career without some loss is rare. A client may migrate elsewhere for various reasons, many out of your control.
“More often than not, even if you do everything, if everything goes to plan, your marketing plan is on point, there’s still a chance that some consumers just don’t feel the level of loyalty or understand the level of loyalty that you are hoping for from them,” says Maura Neill, CRS, REALTOR® at RE/MAX Around Atlanta in Atlanta, Georgia.
Winning back former clients can significantly impact your performance and reinforce your reputation within the community. Implementing effective retention strategies to rebuild trust can prepare you for trying times. Understanding client concerns and employing tailored communication techniques can demonstrate your commitment and foster long-term loyalty.
Common reasons for clients to leave
Whatever your role or the client you’re representing, understanding the reasons behind a client’s departure is pivotal for reconciliation. Foreseeing the potential reasons for a future client’s departure can keep you a step ahead in your business.
Insufficient communication: Many clients expect frequent updates and progress reports. Regular communication shows clients that they’re valued. When clients’ needs aren’t met, they may feel undervalued and seek representation elsewhere.
Prior negative experience: When someone seeks assistance from a real estate agent, they’re looking for an expert to make buying their home or investment property a smooth process. If a client feels that the process was anything but smooth, their next transaction may be with another agent.
“If the client felt that the transaction was extremely stressful, unnecessarily delayed or that the agent lacks some knowledge, they will walk away with a bad taste in their mouth,” says Alma Vega Betancourt, CRS, a broker manager at Horizon Real Estate in Miami, Florida
Competitive offerings: Whether it’s a compelling mailer or a persuasive referral,
HOW TO NAVIGATE CONVERSATIONS WITH PAST CLIENTS
Real estate agents can learn about a past client’s transition to a different agent in numerous indirect and direct ways. Many clients who leave for reasons unrelated to the agent’s performance will contact their agent and inform them of their situation. However, if a client leaves in a rush or feels unsatisfied with your performance, learning of their departure may surprise you. These conversations can occur unexpectedly and navigating them is difficult. Regardless of the conversation, your response requires a thoughtful and proactive approach: It’s important to acknowledge their decision,
if clients perceive another agent to offer better marketing strategies, pricing or services, they may be tempted to switch to what they see as a better deal.
Change in personal circumstances: Life changes can lead clients in different directions. Financial hurdles, relocation and changes in relationships like marriage or engagement could prompt them to seek new representation.
“We all joke that everybody knows ten real estate agents,” says Neill. “So, there’s a chance that the new significant other has a close connection to a real estate agent as well.”
No matter how much trust and loyalty your client has, life may have other plans. These decisions are tough on the client and the agent, so tough that a coin flip could be the deciding factor.
Lack of personal connection: Strong rapport can significantly influence a client’s experience and transaction. Developing personal connections fosters open communication and instills a greater trust in the agent throughout the buying or selling process.
Without a personal touch in your client interactions and communication, your clients may feel that their best interests aren’t at the forefront of your mind, hindering them from achieving the best outcomes.
avoid arguing at all costs, wish them luck and ask open-ended questions for feedback.
How you react in challenging situations can make or break your reputation, so handle these conversations with care, respect and patience.
Six strategies to win back your clients
Regaining the trust of clients who opt to work with another agent requires compassion, skillful communication and dedication to improvement. Agents can restore lost relationships and strengthen their overall client base by implementing strategic steps to reconnect. By exploring how to effectively engage and rebuild trust with former clients, agents can foster lasting loyalty.
Follow up: Reach out directly to former clients with a tailored message acknowledging their experience with you.
Communicating with past clients allows you to understand why they made their decisions.
Recalling a specific conversation or providing details about their needs during your follow-up can make a significant impact and show that you value their business. Instead of a phone call or brief email, try sending your follow-up through the mail to prove that you can go the extra mile.
Accept feedback: While communicating with a past client, encourage them to share their reasons and thoughts on why they took their business elsewhere. Regardless of your experience level, improving from your mistakes is always a best practice.
Establish regular communication: Consistently communicating with your present and former clients showcases your dedication to your craft and the clients who request your representation.
Regular communication includes updates on market trends, new listings or unrelated topics that pique their interest. For active clients, scheduling regular touchpoints can keep them calm during buying or selling. When regaining trust with lost clients, emphasizing your new communication techniques and practices can help separate you from a low-effort agent.
Take note of special occasions: When re-establishing trust with former clients, it is essential to show that you care not just about their business but also about them and their families. Noting special occasions like birthdays, anniversaries, home anniversaries, graduations, births and more is a great way to build loyalty with your client base.
Create a unique newsletter: As an agent, one of your responsibilities is getting to know your customers— what they like, what they don’t like, how many kids they have and what their plans are. This knowledge shouldn’t be wasted.
Asking for feedback can demonstrate your willingness to listen and improve. By collecting insights, you can address specific areas for improvement, which may lead to a reconsideration of your services.
Be patient and respectful: Remember that winning back a client can take time. Therefore, when communicating with a previous client who recently returned to your services or is debating a return, staying patient and respectful reminds them of your exceptional professionalism.
“Instead of getting disappointed or hurt when someone doesn’t use you again, be honored, pleased and excited when they do,” says Neill.
Creating custom newsletters, content or mailers for all your clients can greatly improve your reputation. From updating readers on the latest event coming to town to teaching them a new recipe, these unique deliverables can show former clients that your services don’t have to end at the table. “I’ll send them a recipe that I prepared with the picture; you know what, they love that,” says Vega Betancourt. “They love to see real stuff going on, so I stopped posting those to my social media to save them for my emails to my clients, so they feel important.”
Lost business doesn’t have to stay that way. Revitalize your best practices and real estate relationships to watch your customer loyalty and reputation skyrocket.
Sharpen your skills with our certificates and certifications at www.CRS. com/education/ certificationsand-certificates
By Michelle Huffman
LISTING SERVICES
As the dust settles on the National Association of REALTORS® lawsuit, real estate agents and multiple listing services are rewriting the procedures and processes they must follow to comply with the settlement.
However, many aspects of the MLS remained unchanged. The MLS still represents one of the most comprehensive, standardized and transparent real estate marketplace systems in the world.
“The MLS has been, and will be, the source of the open, clear and competitive marketplace for the real estate professional community,” says Rene Galicia, EVP of customer advocacy at Bright MLS, a Maryland-based multiple listing service. “Without the MLS, fair housing falls short, and the marketplace becomes disjointed, less efficient and more costly for buyers and sellers.”
How MLSs have changed post-settlement
The terms of the NAR settlement reached in March require MLSs to adopt and enforce a new set of rules. These rules prohibit the publication of offers of compensation from the seller or seller’s broker on the MLS and require MLS participants working with buyers to enter into written agreements with their buyers before touring a home, a move NAR has long advocated for its members.
Discussions and negotiations surrounding offers of compensation can still happen but must now take place outside of MLS systems. While this may mark a big change for some agents, others like Alexis Bolin, CRS, associate broker at KW Gulf Coast-Keller Williams in Pensacola, Florida, feel that
these changes ultimately won’t make a big difference.
“The whole purpose of the MLS is the dissemination of information between brokers and agents, period. That’s the reason it was developed,” she says. “The MLS is not just all about compensation split.”
Bolin points out that when she first received her license in the late 1970s, no offers of compensation were published in the MLS, “and we got along just fine, and we will now.”
The benefits of the multiple listing services
Bolin and other experts claim that the MLS is just as valuable as ever, and a resource that strengthens the market in a time of upheaval.
“The core value of MLSs— providing accurate and comprehensive market data—remains essential to our business,” says Elisa Cho, CRS, associate broker at Echo Realty in northern New Jersey. Using multiple listing services offers several benefits that all real estate market players can reap.
1. They provide the most comprehensive database of property listings available. Not only does the MLS consolidate all listings and property information in one place, it also consolidates buyers and sellers. Stuart White, president and CEO at Tennessee-based MLS provider Realtracs, Inc., calls it the “network effect” in an Inman opinion article. “The network effect has provided a dependable listing and buying network—creating a singular destination where an area’s buyers and listings are in the same place.”
Without a widely adopted MLS, listing information would
The Real Estate Standards Organization, which sets datasharing standards for MLSs, tracks 535 MLS systems in the U.S. and 39 in Canada.
Source: Real Estate Standards Organization
Unlock more MLS knowledge with our recording, MLS Uncensored: Top 8 Listing Myths with Cara Ameer at www.CRS. com/education/ education-catalog
be fragmented among different brokers, different websites or different MLSs, forcing agents to go from place to place seeking property information in an inefficient process that is still used in other parts of the world, Galicia says. This can lead buyers to miss out on their dream home and sellers to miss out on pools of buyers.
2. They foster transparency and trust in the market. Nearly every property available for sale is listed on an MLS, and “this transparency empowers consumers to make informed decisions and navigate the real estate market with greater confidence and efficiency,” Cho says. “By ensuring that all participants have access to the same data, MLSs help prevent misinformation and create a level playing field.”
The smallest brokerage in town can compete with the biggest multi-state firm, allowing buyers to work with the professional of their choice, knowing they have access to the largest pool of properties for sale in the marketplace, NAR says.
To this end, MLSs also uphold fair housing laws by ensuring equal access to the same information for all people, regardless of their backgrounds.
3. Standardized data that facilitates easy comparison and healthy competition. With access to large, accurate quantities of data about properties, agents representing buyers or sellers can easily compare properties and conduct effective market analysis. Sellers can see all the other properties on the market, and their agents can set the most effective price point using up-to-date pricing data and trends. Buyers’ agents can write better offers because they have the data available to see how
comparable homes sold. This helps maintain an appropriately competitive marketplace environment.
Where MLSs stand to improve
“While MLSs are highly valuable, there are areas for improvement,” Cho says.
She points to the need for enhanced user interfaces for better usability and increased accessibility, an idea supported by White: “By making their products more accessible, MLSs reinforce their role as indispensable tools and empower users to achieve their goals with ease,” he writes.
Both also say that better data accuracy is key to future progress, with Cho adding that more “robust integration with emerging technologies like AI and big data analytics” would be a welcome upgrade.
For now, the industry is working through enacting the new rules dictated in the settlement, while maintaining and supporting the integrity of the MLS that is so important to the real estate market.
“We are all working together now to pivot,” Galicia says. “There’s no going back, and we are working together to embrace the new way and not try to keep the old one.”
Selling without the MLS can be costly for homeowners. Homes that sell without an agent—and therefore often without the MLS—sold for an average of $95,000 less than those with an agent and their access to the MLS.
Source: 2023 NAR
Profile of Buyers and Sellers
THE ORIGIN OF THE MLS
Although the modern digital MLS is just a few decades old, the idea of the MLS dates to the 1800s when real estate brokers would meet at their local association offices to share information about the properties they were trying to sell. They agreed to compensate the brokers who helped sell those properties, and the first MLS was born “based on a fundamental principle that’s unique to organized real estate: Help me sell my inventory and I’ll help you sell yours,” according to the National Association of REALTORS ® .
Source: National Association of REALTORS® MLS site
CAREER Builders
TOP TALENT
By Meredith Landry
Builders
What makes a real estate agent an attractive hire?
Is it their experience level or a willingness to hustle? Is it an extensive network, book of sales or local market knowledge? Turns out, what makes a real estate agent a top talent is different depending on who you’re talking to.
We asked two veteran agents about what they look for when recruiting new talent to
their teams and how other broker/owners can follow their lead to improve their own recruitment efforts.
Thinking outside the box
In his 36 years as an agent, coach and trainer, Steve Epstein, CRS, senior partner at Epstein Partners, a Keller Williams firm in Santa Barbara, California, has only traditionally recruited one person.
The average cost per hire in the real estate industry is estimated to be between $ 3,000 and $ 5,000, which includes using real estate recruiting software to streamline job postings and follow-ups, according to Brokerkit.
“I have only actively recruited one person during my entire time of running a team, and that was somebody I had known through another business that was going out of business, so I offered him a job,” says Epstein.
How is that so?
Because Epstein isn’t looking for experienced agents who want to advance their careers—he’s looking for people who may not even have their real estate licenses at all.
“I don’t want experienced agents because I don’t care how they think it should be done,” he says. “They may have bad habits, they may have different expectations regarding the quality or level of service, and I don’t want to have to train and untrain someone at the same time. I am much happier taking people who have no background in real estate.”
He might be onto something, too. The average cost per hire in the real estate industry is estimated to be between $3,000 and $5,000, which includes using real estate recruiting software to streamline job postings and follow-ups, according to Brokerkit. So perhaps not relying on these traditional tools could provide some financial relief.
Epstein says he prefers to leverage his own personal network and “sphere of influence” when looking to hire new team members. In fact, many of his top agents today were once his clients or came through personal recommendations.
Top 10 Traits of Successful Real Estate Agents
While some broker/owners want to recruit agents with many years of experience, others prefer a new agent with a beginner’s mindset. Of all the criteria, however, there are certain attributes most recruiters have in common. Below is a list of the top 10 traits real estate agents should have, according to Kaplan Real Estate Education.
❿ A problem-solver mindset
❾ An entrepreneurial spirit
❽ Honesty and integrity
❼ Hustle and tenacity
❻ An interest in houses and architecture
❺ An engaging personality
❹ Attention to detail
❸ An understanding of the local housing market
❷ Networking and relationships
❶ Adaptability and innovation
“They’re good at what they do, know how I do business and how I conduct myself, and they wanted to be part of that,” he says.
Currently, Epstein’s two top-performing agents came to his team from a Ford dealership where they sold cars.
“Maybe the concierge at the Ritz Carlton gave you incredible white-glove service, or the bartender at your favorite restaurant went above and beyond with his customer service,” he says. “If they’re really good at something you value, why not ask them if they’re ready for a change of scenery?”
Before bringing on an interested candidate, however, Epstein insists that all recruits take a personal evaluation test similar to the Myers-Briggs test.
“We use the KPA (Keller Personality Assessment) to understand how they tick,” he says. “Nobody gets near me without first taking the KPA.”
The tool helps identify candidates’ strengths and potential fit within the team since, as Epstein has learned, you can’t teach someone everything.
“People will tell you who they are very quickly. And you should not fight that,” he says. “I used to think I could teach anybody how to be a great real estate agent. And I’ve learned the hard way that I can’t.”
A rigorous vetting process
Because the real estate industry continues to grow, so does the number of people wanting to get in on the action. As of today, 27% of REALTORS® in the business have only been licensed since 2020, according to the National Association of REALTORS®. And the Bureau of Labor Statistics anticipates an increase in employment for real estate brokers and sales agents by 4% from 2021 to 2031.
Because of this flood of potential new talent, Debra Beagle, CRS, CEO, managing broker and co-owner of RE/MAX Advantage in Nashville, Tennessee, takes a more structured and traditional approach to recruitment.
Beagle’s recruitment strategy involves a rigorous vetting process to ensure that new agents align with her team’s culture and values.
“We vet everyone who wants to join our team,” she says. However, she’s only
interested in bringing on agents who want to pursue real estate as a full-time career— folks who just want to look at pretty houses need not apply.
To assess potential recruits, Beagle’s long-time in-office recruiter uses a multistep process, starting with the applicant sending a simple two-minute video via text so Beagle’s team can assess how they present themself. This is followed by a virtual meeting to gauge their presentation and communication skills, and then an in-person meeting. This initial screening helps identify resourceful candidates who take initiative and align with the company’s servant leadership philosophy, she says.
Once hired, the process includes an additional 110 hours of education in the first three weeks of joining the brokerage, on top of their licensing requirements.
“About half of our team members are newly licensed, while the other half are very experienced,” she says. “But everyone has to do this training.”
The perks
Both Epstein and Beagle say they don’t typically have to work too hard to convince a new recruit that their firm is a great
place to work. Most new hires, they say, are immediately sold on the in-house services that come with a larger brokerage, including a dedicated transaction coordinator, marketing, advertising, photography, videography, staging, website maintenance and more.
“I don’t try to sell my team,” Epstein says. “I want people to see the value in what we offer, from handling marketing to scheduling inspections.”
While Beagle says she’s enthusiastic about the growing pool of untapped talent, she has also brought on and let go agents that weren’t a good fit, which is why her team stays committed to their stringent recruitment process.
“Many people got into the business and didn’t realize how demanding it would be,” she says. “And we would rather avoid crushing someone’s entrepreneurial spirit.”
Epstein and Beagle say that recruitment success hinges on recognizing potential, fostering a collaborative culture and equipping agents with the tools and training needed to excel.
“We are constantly learning, and egos are out the door,” Beagle says. “No matter how long you’ve been in the business, there’s always room to grow and improve.”
I don’t try to sell my team. I want people to see the value in what we offer, from handling marketing to scheduling inspections.”
—Steve Epstein, CRS
Start growing your team today! Learn more with the RRC eLearning, Building a Dynamic Team at www.CRS. com/education/ education-catalog
2024 Middle Housing Survey
HOMEOWNERS SHOULD BE ALLOWED TO CONVERT THEIR HOMES TO ADD HOUSING UNITS
(E.G., SINGLE-FAMILY TO DUPLEX, ADDING A MOTHER-IN-LAW UNIT, ETC.)
among homeowners only
Source: Zillow
Owning a home is necessary to live the American Dream
Owning a home is critical to building and passing on generational wealth
Share of adults who say they would support allowing each home type in their neighborhood OR who say that at least one multifamily condition (affordability, proximity to transit/recreation) would make them more supportive:
Share
Share of adults who agree somewhat/completely with each statement:
Pitch your value to homebuyers with our latest RRC classroom course, The Buyer’s Advocate at www.CRS. com/education/ education-catalog
Dale Carlton, CRS , has been a REALTOR ® for over 20 years, was a broker overseeing sales of over $3 billion and personally sold over $250 million. As the 2015 national president of the Residential Real Estate Council and a longtime national instructor, Carlton has drawn on a wealth of knowledge from the top agents in the United States to develop this investment course.
Double Dip
By Dale Carlton, CRS
In the RRC course Increase Wealth with Rentals and Other Investment Properties, we walk through all the necessary steps to understand residential real estate as an investment, not only for clients but for real estate agents themselves. This knowledge will be invaluable when they consider investing in real estate for their own retirement or ensuring financial security, even in a changing economy.
It is often true that one learns best by doing, so we encourage the people taking this course to invest themselves to get a firmer grasp on the ins and outs of property investing. Buy an investment property, learn how it works and know how to do it before you bring on an outside investor. Not everybody can do that; sometimes an opportunity to help investors comes first. But we encourage it because it becomes personal when you do it yourself.
An IDEAL investment
In addition to being a real estate agent, I am a professor in the finance department of the University of Arkansas, and one thing I can tell you is that most of our finance professors who do not have experience in real estate do not immediately think about real estate as a part of an investment portfolio. Therefore, it generally is real estate agents—and specifically CRSs, who’ve been in the business for many years—who can guide an investor and help them understand the value that might come from investing in real estate, the tax benefits that may accrue and what they could expect as a return on that investment.
One useful tool I offer in the course is understanding how to use annual property operating data, or APOD, which helps determine before-tax cash flow. Then we go over a couple of returns, like an equity buildup and a cash-on-cash return, which are investment analysis returns that some investors can study to determine whether a property is a good investment or not.
During the course, we will highlight another acronym that provides a handy way to talk about the benefits of real estate investment: IDEAL.
f I is for income. One hopes for positive income before taxes, and then after tax, you might gain even more because of tax advantages.
f D is for depreciation. We get to depreciate the improvements to the property, which saves on taxes.
f E is about equity buildup. You can borrow money to invest in real estate, unlike stocks and other instruments (they might have a capital call, or you might be required to have a certain amount of cash available to borrow money to buy certain portfolio items). But with real estate, it’s easy to borrow money because there’s an asset to borrow against.
f A is the appreciation. The typical appreciation in real estate over a 30-year period is around 6.2%. In some years, a property’s value might increase by over 10% and 2% to 3% in others. But we haven’t had negative appreciation in a very long time.
f L stands for leverage, the fact that you can borrow, essentially using other people’s money to invest. So, if you only have a small amount of money to invest, you can borrow the remaining amount to invest in real estate, pay it off slowly and get the equity build-up.
Another valuable aspect of this course will be learning how to tailor your marketing specifically for investors. As an agent, you can’t buy every investment you find, even if you know it’s a good deal. So, where can you go with this information? Your clients may only be buying a home to live in every seven to 12 years, but every person is a potential real estate investor if you can effectively teach them the principles of investment.
Buy an investment property, learn how it works and know how to do it before you bring on an outside investor.
Explore Dale Carlton’s full course catalog at www.CRS. com/education/ faculty
A well-chosen gift can help strengthen your relationships and keep your name top of mind.
As the holiday season approaches, it’s a great time to show appreciation to your clients with thoughtful gifts. Whether for a recent homebuyer, a long-time client or someone who referred business your way, a well-chosen gift can help strengthen your relationships and keep your name top of mind. Here are some unique and meaningful holiday gifting ideas that strike the right balance between personal and professional—without breaking the bank.
Customized home décor
A personalized home décor item makes for a thoughtful gift that clients can cherish for years to come. Consider a custom-made ornament with their address or a beautiful, framed map of the neighborhood where they purchased their home. Another idea is a personalized doormat or monogrammed towels. These small touches show that you remember and value your clients, and they provide them with something they can proudly display in their new home.
Handwritten holiday cards
If you’re working with a tight budget but still want to show appreciation, a heartfelt, handwritten holiday card can go a long way. Take the time to personalize each message, mentioning specific details like the home they purchased or the positive experience you shared working together. Handwritten notes feel more thoughtful than generic cards and help reinforce the personal connection between you and your clients.
Local gift baskets
Support local businesses and make a lasting impression with a gift basket filled with products from local artisans and shops. A basket with local flavors not only supports the community but also gives your gift a personal touch that clients will appreciate. Incorporate a hand-written note welcoming them to the neighborhood for a final touch.
Treat Your Clients This Holiday Season
A year of home maintenance
Help your clients keep their homes in top shape by gifting them a year’s subscription to a home maintenance service or app. Companies like HomeBinder or Thumbtack offer memberships that assist homeowners with tracking home projects, scheduling maintenance and hiring professionals for repairs. This gift is especially thoughtful for first-time homeowners who may need guidance on keeping up with their property. It shows you care about their long-term satisfaction with their home.
Seasonal subscription boxes
Subscription boxes are all the rage, and gifting one with a seasonal theme is a great way to give a little something extra throughout the year. A subscription box extends your gesture beyond the holiday season, creating a long-lasting impression. Clients will think of you every time a new box arrives and appreciate your continued thoughtfulness.
A donation in their name
For community-oriented or socially conscious clients, donating to a local charity or cause in their name can be incredibly meaningful. Find out if your clients have a favorite charity or cause they’re passionate about, or select a well-known local nonprofit. This gift shows that you value more than just the business transaction and are committed to giving back.
Looking to send the best gift to your clients? Unlock unique savings and offerings with the RRC Saving Center at rrc. savingcenter.net
The Value of RRC
Pursuing the CRS Designation and joining the Residential Real Estate Council is a strategic step for your professional growth. Residential Real Estate Council (RRC) and the Certified Residential Specialist (CRS) Designation offer unparalleled growth and success opportunities for real estate professionals. RRC provides access to industry-leading education, tools and networking, helping members and candidates enhance their skills, stay competitive and grow their businesses. Achieving the prestigious CRS Designation signifies mastery in residential real estate and grants exclusive access to advanced resources, networking opportunities and marketing support, setting designees apart as experts in the field. This value chart outlines the distinct benefits available to RRC members, candidates and CRS Designees.
RRC Benefit
No-cost webinar library
Mentor Program
Complimentary subscription to magazine
The Residential Specialist (print and online)
Complimentary subscription to Inman Select News and discounts to Inman events
Member rate for Sell-a-Bration ®
Discount on CRS education courses
Discount on professional development including Certifications and Certificates
Access to global, state and local RRC Networks
Find a CRS—Community
Weekly email newsletter—RRC Connect
Weekly email newsletter—Education Insider
Savings Center
Globally recognized CRS Designation earned and maintained through RRC membership
Access to CRS global referral network
Find a CRS—Referral directory
Listing in CRS print referral directory
Access to marketing tools and referral opportunities
Volunteer opportunities
Statement of Ownership, Management and Circulation
Designee
The Residential Specialist (USPS# 021-699, ISSN# 1539-7572) is published (bi-monthly) six times a year by the Residential Real Estate Council. Five issues were mailed in 2024. The annual subscription price is $29.95. The mailing address of both the publication and the publisher is Residential Real Estate Council, 430 N. Michigan Avenue, Suite 300, Chicago, IL 60611-4092. The publisher is the Residential Real Estate Council, and the Editor is Cheré LaRose. The owner of the publication is the Residential Real Estate Council. There were 16,132 copies of The Residential Specialist published in September/October 2024; the average for the preceding 12 months was 20,006. The paid/requested outside-county mail subscriptions for the September/October issue were 16,083 [domestic + Canada + foreign]; the average for the preceding 12 months was 19,905. Ten free copies were distributed by mail in September/ October and the average number of free copies distributed during the preceding 12 months was 10. Twenty copies of the September/ October issue were distributed outside the mail (to classes, membership kits, etc.), and the average number of free copies distributed outside the mail for the preceding 12 months was 60. Nineteen copies of the magazine were not distributed in September/October (office use, leftovers), and an average of 29 copies were not distributed from issues in the preceding 12 months. The percent paid/ requested circulation in September/October 2024 was 99.7%, and for the preceding 12 months it was 99.5%.
Explore the complete suite of CRS benefits by visiting www.CRS. com/designation/ designee-benefits
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 superpower should every real estate agent have to offer the best client experience?
Hands-on care and responsiveness and open, forthright communication. I provide beautiful staging, cleaning and professional photos along with a pre-inspection.
Paulson, CRS, A V West Real Estate, Boise, Idaho
Explaining the home sale and purchase process very thoroughly so the client knows what to expect through the entire transaction. It eases the unknown stress for them and makes for smoother transactions.
Linda Ellen Anderson, CRS, TRI Star Real Estate Solutions, Cameron Park, California
Strong communication skills, detailoriented and always looking out for [your] clients’ best interests. Also, service after the sale, like checking in to see how they are doing, reminding them to file their homestead exemption if applicable and assisting with that, etc.).
Jami Mumley, CRS, North Texas Top Team Realtors, Dallas, Texas
Sharing the information clients need most. Education on the process and letting them know I handle the process while they make all the decisions!
Carol Murphy, CRS, Keller Williams Citywide, Avon Lake, Ohio
Being trustworthy, caring and willing to listen to [your] clients. Always be attentive to their needs!
Maria Dargan, CRS, RE/MAX Revolutions, Lanoka Harbor, New Jersey
My patience and great listening skills really help develop the customer relationship and nurture the trust throughout the transaction to close.
Michelle Cecchini, CRS, Shelly Realty LLC, Ormond Beach, Florida
I have a calmness when dealing with challenging or difficult situations (at least on the outside) and I’m patient.
Jerry Moscowitz, CRS, RE/MAX Results, Brooklyn Park, Minnesota
My superpower is my sincere wish for the best interest of the client.
Shelley Watkins, CRS, ARC Realty Company, Vestavia Hills, Alabama
My superpower, frankly, is simply being genuine with people. That, plus my competence, makes them know they can trust me.
Check if this course qualifies for continuing education credit in your state.
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.
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!
Welcome Back
Recently, I had the pleasure of referring my past clients to Jana Richards, CRS, an agent i n Montana. My clients had relocated to Montana but kept in touch, expressing a desire to return to Idaho. When that time came, they asked for help selling their Montana home. After connecting with Richards through the Residential Real Estate Council, I felt confident sending her their way. We executed a simultaneous close in both states and my clients are now happily back in Idaho. This experience reaffirmed my belief that referring clients to a Certified Residential Specialist like Richards not only enhances their real estate journey but allows me to maintain peace of mind, knowing they are in capable hands.
Social media platforms like LinkedIn, Facebook and Instagram enable you to connect with fellow CRSs. Building a strong professional network can lead to referrals, partnerships and collaborative opportunities that benefit your business.
2. Learning and sharing knowledge
Engaging with peers on social media allows you to learn from their experiences and share your own insights. Whether it’s market trends, negotiation strategies or innovative marketing techniques, these exchanges can be mutually beneficial.
n the digital age, social media is an invaluable tool for CRSs and real estate agents. It can foster peer-to-peer relationships, open doors to networking opportunities and provide a platform for sharing industry knowledge. However, navigating social media in a professional context requires careful management. Here’s how to balance work relationships and social media effectively.
3. Engaging on non-work topics
Social media also offers a space to build rapport by discussing non-work-related topics such as favorite restaurants, local events or book recommendations. These conversations can strengthen your professional relationships by adding a personal touch. (And that’s why we’re on social media in the first place, right?)
The bright side
Charday Penn, mapodile, akinbostanci/E+ via Getty Images, iStock.com/Kar-Tr, grinvalds
Risks of social media networking and best practices
1. Risk of oversharing
While it’s tempting to be open on social media, remember to maintain your brand persona. Oversharing personal details can blur the lines between your professional and private lives. Keep your posts relevant and professional. Think twice about sharing anything you wouldn’t want to be seen doing at a work function.
2. Working with former peers
You may find yourself work ing with or for former peers. Be cautious about what you share online, keeping in mind that today’s peers could be tomorrow’s business partners or employers. Always maintain professionalism in your interactions.
3. Avoid bad-mouthing
Reputation is everything in real estate. Never bad-mouth colleagues, competitors or industry practices online. Negative comments can damage your reputation and alienate potential collaborators.
4. Boost—don’t boast
Success is worth celebrating but boasting can come off as arrogant. Share your achievements modestly and acknowledge the efforts of those who helped you along the way. It’s nice to say, for example, “The tip @Sam shared helped me sell this great beachfront property!” That will send your followers to @Sam, who will no doubt appreciate the boost.
Additional tips for effective social media management
1. Consistency is key: Regularly update your profiles and engage with your network to stay top of mind.
2. Be authentic: Authenticity builds trust. Be genuine in your interactions and share content that reflects your values and expertise.
3. Use visuals: Visual content is more engaging. Use high-quality photos and videos to make your posts stand out.
4. Monitor your activity: Keep an eye on your social media presence. Tools like Hootsuite or Sprout Social can help you manage and schedule posts efficiently.
Managing work relationships and social media as a CRS requires a strategic approach. By leveraging the benefits of social media networking and mitigating the risks, you can build meaningful professional relationships while maintaining a positive online presence. Remember that people may forget what you say to them face to face or on a phone call, but your posting history lives forever. Anyone can search your social media posts, so keep your content professional and your interactions constructive.
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!
Bridging Homes and Hope for Veterans
Jennifer Lee, Ph.D., sales agent at Mackey Realty in Charlotte, North Carolina, is no stranger to helping others. As a residential real estate agent and a volunteer with Veterans Bridge Home (VBH), Lee has made a remarkable impact on her community. Balancing her role as an agent with her passion for service, she demonstrates how philanthropy can shape not only individuals but also their careers.
Lee’s journey into real estate began unexpectedly in 2018. “Honestly, it started as a dare,” she says. “After I completed my doctorate in education, my husband and I relocated to his hometown in Charlotte, North Carolina. He and my mother-in-law, a veteran agent, encouraged me to join her firm and begin this adventure.” Lee is licensed in both North Carolina and South Carolina. Six months into her new career, Lee discovered striking parallels between teaching and real estate. “This job is about guiding others in making smart financial decisions,” she says. “It requires patience, breaking down complex processes and caring about people.”
As an advo
Her involvement with VBH began five years ago. VBH serves as a vital connector for veterans transitioning to civilian life, helping them access resources for housing, employment and more. For Lee, this work has been a labor of love. “I developed a system to track hundreds of property management companies and their approval criteria to match veterans with the right rental properties,” says Lee.
To date, Lee has supported over 600 veterans and their families. Her goal is to streamline the rental process and help veterans find homes quickly while avoiding scams. And VBH doesn’t only serve clients transitioning to civilian life, according to Lee. “Any veterans in our community in need of support or social connection can reach out for assistance. They serve many needs, including social events, employment services and more.”
While her work is rewarding, it is not without challenges. Lee notes that many veterans struggle with credit issues or financial instability, making it difficult for them to secure housing. “Agents should be well-versed in credit repair and the VA loan process to better support veterans,” Lee says.
For Lee, her passion for helping veterans is deeply personal. “My family has served in the military across many generations,” she says. “Working with VBH is my way of giving back.” As a Military Relocation Professional, her focus on veteran homeowners has also boosted her business. “It’s added to my diverse skill set and expanded my network,” she says. “But more than anything, it’s fulfilling to help veterans achieve homeownership.”
For agents, Lee emphasizes the importance of being active participants in their communities. “It gets you out of the office and helps you connect with people from all backgrounds,” she says. “The more exposure you have, the more effective become at supporting others.”
“I
just discovered this feature and
I’m
like a kid in the candy store. Thank you!”
~ Paul Fedyinch, CRS
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