CANADA 12-4-23

CANADA EDITION

Why Millennials are Now the Hottest Segment of the Buyers Market

The Making of a

TOP AGENT

BEYOND

SMALL YARD?

CLEANING AND DECLUTTERING:

BIG STATEMENT:

HOW TO MAKE THE MOST OUT OF MICRO OUTDOOR SPACES

What Improvement Expenses Make the Most Sense?

COVER STORY

MIKELA CORREIA

CANADA EDITION

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MIKELA CORREIA

CONTENTS

4) THE MAKING OF A TOP AGENT

MIKELA CORREIA 15) BEYOND CLEANING

6) SMALL YARD? BIG STATEMENT: HOW TO MAKE THE MOST OUT OF MICRO OUTDOOR SPACES

AND DECLUTTERING: WHAT IMPROVEMENT EXPENSES MAKE THE MOST SENSE? 20) WHY MILLENNIALS ARE NOW THE HOTTEST SEGMENT OF THE BUYERS MARKET

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The Making of

A TOP AGENT In the hustle and bustle of Real Estate lies artistry and skill honed by top-producing industry leaders. What is it that makes specific agents stand out for their success?

As we glimpse into the unparalleled success of Top Agents, we find them comparable to an intricately woven tapestry of devotion, strategy, and skill, enabling these agents to 4

rise to the top, showcasing what is essential to their climb to the summit. Amidst this tapestry are unique threads, fabrics, and patterns that we will explore to share the making of a Top Agent.

First and foremost, one of the most fundamental factors determining an agent’s success

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is the level of service they offer their clients.

For example, Mauricio Umansky is a prime example; he earned his place on the cover of the Top Agent Magazine for his notable career success as a Southern California Top Agent and owner of The Agency. Mauricio and his team at The Agency are deeply devoted to providing an extraordinaire level of service, a crucial focus for his business. Whether exercising the role as an agent for an elite client or assisting clients through their company’s concierge program, the brokerage and its team members will find a way to provide their clients with whatever they need. The level of service an agent extends to their clients is paramount to their business ethos and directly correlated to the success they find.

Another feature of a top-producing agent is their devotion to nurturing sincere relationships with their clients. Agents who regularly stay in touch with clients acquire a strong repeat and referral business. Upon years of keeping up with past clients through pop-byes, client events, a simple phone call, or grabbing coffee, an agent’s business can become sustainable from this effort alone.

Little gestures like remembering a client’s anniversary or birthday can make a positive impression on clients as the agent fosters a genuine relationship with them. While real estate marketing strategies remain essential, nothing compares to satisfied clients driving Top Agent Magazine

word-of-mouth business. We’ve heard from agents featured in Top Agent Magazine who share that their clients often become life-long friends. Top Agents put their heart into their business and the relationships they build. At the same time, their business always stays strong.

The making of a top agent doesn’t stop there.

Agents who excel in success are often those firmly involved in the community through charitable work, associations, and events.

Active participation in one’s community and an interest in philanthropic causes build trust and integrity and display character and compassion. When a business is devoted to positively impacting the lives of others, it creates a favorable outcome for all involved, those in need and others who share the standard value of paying it forward. When kind actions create a ripple effect by helping those in need, all feel the benefit, further strengthening an agent’s brand image and business.

As we de-thread the tapestry of success required for Top Agents, we see their business is an interwoven fabric consisting of exceptional client service, relationship building, and giving back. Interestingly enough, the real estate industry epitomizes a “people business.” Devoted service to others makes the real estate world as it is.

The making of a Top Agent has little to do with financial reward and everything to do with an unwavering commitment to serving others. Let these top leaders and their insights inspire us. Are you the next Top Agent?

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Small Yard? Big Statement: How to Make the Most Out of Micro Outdoor Spaces When house-hunters compile their lists of musthave home items, a dreamy backyard space is often near the top. After all, who doesn’t want an outdoor oasis of their very own? From summer barbecues to open space for your dog to frolic— everyone has their own aspirations when it comes to creating the perfect backyard paradise. But as homebuyers seek properties deeper within city limits, and Millennials opt for properties with 6

urban amenities and access, home-connected outdoor spaces are becoming a bit smaller in stature.

Of course, size isn’t everything when it comes to outdoor space. Even balconies, rear patios, and ultra-tiny yards can provide homebuyers with the outdoor reprieve they crave—even on a smaller scale. For a few ideas that can help you envision all the possibilities of a micro outdoor space, read on for inspiration.

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Think vertically.

When space is at a premium, think up instead of out. In other words, make the most of small spaces by capitalizing on your backyard, balcony, or patio’s overhead height. Mood-setting string lights, hanging pocket or wall gardens, floating shelves, and modern overhead hangings can create a sense of privacy and luxury without cluttering the square footage on the ground.

Soothing sounds set the mood.

Upgrade the look of structural components.

Not in love with your patio pavers? Don’t have the sweetest view off your balcony? Whatever your small backyard living space gripe may be, there’s always a solution if you go back to the basics. Consider the structural components of your outdoor space that you aren’t in love with and there’s likely an affordable, eye-pleasing solution. For instance, plenty of home goods Top Agent Magazine

retailers make a variety of punchy or luxe outdoor rugs that can disguise stained or lackluster outdoor flooring. Power-washing is another great solution for old grime and dirt that’s an eyesore. Don’t have a great view? Planting ivy on bare walls, installing adjustable mood lighting, or hanging planters can create a more inviting ambiance.

While there may not be room for a swimming pool or pond in a micro yard or balcony, you can still bring the calming presence of water to your outdoor oasis. Fountains run the gamut in sizing and price, making this amenity an easy acquisition. What’s more, a running fountain not only adds a soothing sound to your space, but it also helps drown out noise from the street or the neighbors—making your space entirely your own and stress-free.

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Don’t compromise on your culinary dreams.

If you love to entertain in outdoor spaces or relish the chance to man the grill—small outdoor spaces don’t have to trip you up. Grill options (both propane and charcoal) come in a range of sizes, many of which can be outfitted securely to balcony posts or be tucked away and out of sight when out of use. Consider nesting tables or those with a removable leaf to adjust your seating and dining options depending on company.

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Another trick? A small, oscillating fan can keep air flow moving in a small space during grill season—and can be easily affixed to walls or posts, as well.

Don’t let yourself or clients be discouraged by spaces with more limited square footage in outdoor areas. Furniture and design trends have already begun shifting toward providing better small-space options, and at the end of the day, a backyard space is all about providing an area for relaxation. With a few well-placed, strategic choices, you can still have it all.

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MIKELA CORREIA

Top Agent Mikela Correia works solo with Royal LePage Wolle Realty, serving the Waterloo-Kitchener residential market.

Mikela Correia of Waterloo, Ontario, has traced an enviable trajectory in the real estate industry by combining her broadly cast digital footprint with a penchant for architectural and interior design and a commitment to fostering deep interpersonal relationships with clients, colleagues, and builders. “Consistency and professionalism is the baseline. I bring a deep respect for the gravity of each transaction and a humane element that keeps us connected well beyond making a sale. My clients know they always have my full attention, and once you can provide that level of service, you get a client for life.”

Prior to formally stepping into the real estate industry, Mikela obtained her Bachelor of Arts Degree with a focus in Visual Arts and English, followed by her Bachelor of Education and enjoyed a five-year career as a secondary school teacher. “I loved my job, but I felt like there was another passion I wasn’t addressing,” she recalls. “I wanted to continue educating, but my passion for design was going untapped.” After obtaining her real estate license in 2020, Mikela prioritized finding a brokerage that aligned with her convictions.

“I wanted shared morals for high impact community involvement, so I signed with Royal LePage Wolle Realty and came in hot!”

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In her first full calendar year, Mikela cleared $3.2 million in total volume serving the Waterloo-Kitchener residential market, while simultaneously becoming a new mom, and with two months left in 2023, she has her sights set on inching past $20 million as a solo agent. “Consistency is king,” she exudes. “I knew from the get-go if I’m going

to put myself out there, I want to make sure my brand is perfectly communicated. I always use professional photographers and videographers, and I showcase each home with interview style walkthroughs. I want to help people envision what it would feel like, for themselves and their families, if they lived there.”

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Mikela has also fostered a critical professional relationship with custom home builder Klondike Homes Ltd. “I’ve been doing custom home building with Klondike for almost five years now. I enjoy being able to exercise my design and project management skills and transfer these skills to my real estate practice.

In addition to her polished social media presence and unparalleled work ethic, Mikela goes to great lengths to support her extended community. Once her business platform was firmly established, she decided she needed to go above and beyond the call of her brokerage, so she launched her own independent campaign: Access To Necessities, Period. “I collect, organize, store, and distribute menstrual products Copyright Top Agent Magazine

to hospitals, shelters, and sexual assault centers across the tri-cities. I wanted to fill the funding gap for them – they don’t often get resources for those necessities, and I try to tackle that stigma head on.”

Mikela has also fostered a critical professional relationship with custom home builder Klondike Homes Ltd. “I’ve been doing custom

home building with Klondike for almost five years now. I enjoy being able to exercise my design and project management skills and transfer these skills to my real estate practice, and my clients benefit from those insights – it all comes together so nicely. I still feel very much like a new agent, and I see endless opportunities out there for myself and my clients to continue growing together. I’m an educator at

heart, and I want to share everything I know to people who are looking to move to KW!” Mikela’s next ambition is to tackle the world of real estate redevelopment alongside her fiancé and respective business partners Neo Developments Ltd and Neo Construction Inc, as they plan to develop their portfolio of recently acquired properties into multi-residential units to contribute to more-infill focused projects.

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For more information about Mikela Correia, please call 519-404-8174 or email mikelacorreia@royallepage.ca

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Beyond Cleaning and Decluttering: What Improvement Expenses Make the Most Sense?

Decluttering open spaces, emptying cabinets and drawers and removing knick-knacks might seem like obvious – and free – ways to improve a home’s presentability. Unfortunately, however, not all sellers or agents are willing to do much more than decluttering and cleaning.

Think of the listing as a reflection on yourself. If you didn’t comb your hair, shine your shoes, dress Top Agent Magazine

neatly and drive a clean car, people would think you don’t care about yourself. They may wonder, “If he doesn’t care about how he presents himself, how is he going to present my house?” Likewise, not prepare a house for its most beautiful presentation might cast doubt on how the overall marketing will go. And, while not all changes will be immediately noticeable, chances are that what isn’t changed will be noticed.

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Ashley Aguilera, REALTOR®, broker and owner of The Aguilera Team in California’s Murrieta Valley and Temecula, says that after every consultation, her team formulates a game-plan. “We want to set their property apart from everything else on the market, but also fall within the comfort zone of the seller’s lifestyle,” she says. Changes may run the gamut from minor repairs and moving furniture for better flow, to adding accent pieces to harmonize the home’s look or create a “wow” factor before professional photography.

Many agents recommend conducting a professional inspection prior to listing; some will even hire the inspector at their own expense. Of course, any necessary repairs found during inspection and not repaired before listing must be formally disclosed. But wouldn’t it be nice to have no surprises during the buyer’s formal inspection?

In general, some improvements are required, others are low-cost and others pay for themselves

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with lower time on the market, competing offers or higher sale price.

Landscaping & Exterior First impressions begin outside. Be sure to mow and edge the lawn regularly; prune back overgrown trees and hedges; hire a professional to repair uneven pavement (especially if it’s a hazard); remove or replace dying annuals; and clean or repair porches or railings. Are there dry or dead patches of lawn? An inexpensive repair to the irrigation system might be the solution.

While painting an entire house can be extreme, a wise investment is to paint trim, porches, steps or railings that may look tired or have too many colors; choosing a single, neutral color for trim can create a bright, cohesive look. Finally, check the roof, gutters and windows, looking for spots to caulk, shingles to replace, or debris to remove.

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Paint is extremely important if the home has faded or dirty walls, holes or chips on paint or plaster. If an entire paint job is not feasible, at least consider cleaning repairing the obvious and adding a fresh coat of semi-gloss to baseboards, moldings, windowsills, doors, banisters balustrades and built-ins. Don’t overlook the ceilings!

A long-ago leak from a second-floor bathroom may have been completely repaired and moisture abated, but a patched-up ceiling is a red-flag.

Kitchens and baths

Walls, carpets, ceilings and trim Next, it’s time for agent and seller to open up to one another about the interior. Janelle Holte, who leads Seller’s Edge Home Team in the Minneapolis/St. Paul area, loves walking into a home knowing that her team will be the driving force behind selling it.

“I like seeing how owners took care of it and raised their family in it,” she says. “But I won’t sugar-coat anything, so I tell them not to shoot the messenger!” She gives it to them straight, explaining what needs to be done to stage it to present well from a buyer’s perspective.

Those changes often include repainting at least the primarily living areas and replacing carpet, especially worn carpet or carpet that has faded or stained beyond what professional carpet cleaning could remedy. Sometimes, all that’s needed is professional carpet stretching to remove any buckling prior to cleaning.

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Most agents agree that the easiest costs to recoup in home improvements prior to selling are those spent in bathroom and kitchen updates. Complete remodels are unwise; you can’t anticipate the style preferences of their buyer. But refinishing, touching-ug up or painting cabinets can create a great impact, while also forcing the seller to remove unwanted or overstocked items from cabinets and drawers. Don’t forget the cabinet pulls – shiny, new nobs look nice.

Lee Ritchie of Ritchie Realty Group in Columbus, Ohio, gives a reminder to discuss any and all issues up front. “People need to be able rely on the professional who’s presenting, pricing and marketing their home,” she says. An honest and diligent agent will be an open book about the current market conditions, the quality of comparable listings and the potential return-on-investment for improvements.

Some agents, like Debra Dobbs of @properties in Chicago, even roll up their sleeves to help with decluttering and repairs. While not at all required or expected, doing so sure lets sellers see the investment their agent is willing to make for them.

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Why Millennials Are Now the Hottest Segment of the Buyers Market

and How You Can Attract Them to Your Home There are many factors when it comes to knowing how to sell your home to the Millennial generation. Millennials are becoming an important part of the buyer market, and to fail to cater to their needs will cut you off from a large and important segment. But, why have Millennials all of a sudden become interested in buying houses when they were perfectly content to rent for the rest of their lives?

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A number of factors contribute to what has recently made Millennials the hottest segment of the Buyers market. One factor is the improved job outlook for Millennials. Millennials took a serious blow during the recession.

Unemployment in this group soared to 14 percent, compared to the 9.6 percent for the population as a whole. But, in recent years that number has been decreasing, with unemployment for Millennials being 9.3 percent this past year.

Rising rents are also contributing to making Millennials more interested in purchasing homes now. Rents have risen so much that buying a home now just makes more sense. Half of all renters spend more than 30 percent of their income on housing. Millennials are becoming increasingly stressed over the constantly increasing financial obligation to something that isn’t even theirs to own.

The near-historic low mortgage rates are luring Millennials towards purchasing a home with their promise of affordability. When compared with the skyrocketing rental rates, buying a house looks even more enticing.

Another factor helping Millennials get over the hump of purchasing a house is the lower down payment requirements. Fannie Mae and Freddie Mac are now offering new loan programs that require as little as a 3 percent down payment. This may just be the last push the Millennials needed to turn toward buying a home rather than rent.

So, now that we’ve established that Millennials are finally joining the Buyers market, the next thing that it is important to understand is what exactly Millennials are looking for in a home. What kind of floorplans do they prefer? What locations are they interested in? Here are some of the essentials that Millennials are looking for in a home: • Updated Kitchens and Baths: Almost everyone wants to buy a

home with new kitchen and bath fixtures, but this is especially true for Millennials Buyers. Millennials are going to spend most of their savings on the down payment and furnishings, leaving little room to update the Kitchen and Bath, which are also the most expensive parts of a home to

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update. Millennials who are on a budget simply won’t have the money to sink into those areas. An updated Kitchen and Bath is sure to bring in a younger crowd.

• Big Kitchen with Open Floor Plan: For Millennials, the kitchen has

become the room where they hangout in addition to the family room. This is why having an open space that can transition easily from the kitchen to the TV room is high on the list of things Millennials are looking for in a home. Along a similar vein, Millennials are attracted to an open floor plan rather than one that compartmentalizes the home. This has to do with how Millennials entertain. Millennials want their guests to flow through the rooms and mingle together, rather than be sectioned off in different rooms.

• Home Office: More than 13 million Americans now work from home,

and if you look at the trend, that number is only going to increase as the time goes on. With technology steadily increasing, more Millennials than ever have the flexibility to work from home. But, the home office isn’t just for someone working from home full time. Having a separate space dedicated to work helps people concentrate and focus on work while they are at home. They can separate themselves from the activities going on around the house and have a quiet space where they can set up their workday, plan a presentation, hold a meeting on Skype, or even pay bills.

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• Less Maintenance: Many Millennials work different schedules that

don’t conform to the 9 to 5 workday, as well as full social calendars. This doesn’t leave them much time to clean a big house. Lawn services and low-maintenance front yards are particularly appealing, as they take less responsibility to still keep the curb appeal high.

• Energy-Efficient Appliances: Millennials have been educated on

keeping the Earth clean from the time they were born. They want to do their part to help the environment and appreciate the long-term cost savings that come with it. Energy-efficient appliances and greener ways to heat and cool the home might end up being the tipping point that makes them choose one house over another.

• Hardwood Floors: Millennials don’t have the time or patience to clean

dirty carpets, especially those that own pets. Hardwood and laminate flooring is easy to mop up if there’s been a mess. The more time they can conserve, the better.

• Good Location: Millennial buyers are looking for homes that are in

proximity to public transportation and have a good walking score. Young Millennial buyers without children are more likely to want a location closer to the action of the city, while Millennials with children would prefer more residential areas.

• Technology: Technology rules the Millennial’s life. They do work on

their computers through an Internet connection and solely use cellphones for communication. They are going to ask about how strong the cell service is and about the Internet service provider. While these amenities are out of the seller’s hands, Millennials are still going to ask these questions, and you will need to know how to answer them.

Knowing what Millennials are looking for in a home will ultimately help you make the necessary changes that will attract these buyers to your home.

Since they are the a serious segment of the market now, updating your home to fit their needs will lead to more buyers and better offers. So, get with the times and embrace the Millennial buyer.

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