CHICAGO EDITION
UNTANGLING THE BIDDING WAR:
24-HOUR TOUCH-UPS
A BUYER’S & SELLER’S PERSPECTIVES
to Maximize Your List Price
INCORPORATING CHARITABLE GIVING
1 Billion-Plus Reasons Why You Should be Active on Facebook
IN YOUR REAL ESTATE PRACTICE
COVER STORY
ERICA CUNEEN
CHICAGO EDITION
9
ERICA CUNEEN
CONTENTS 4) UNTANGLING THE BIDDING WAR: A BUYER’S & SELLER’S PERSPECTIVES
15) 1 BILLION-PLUS REASONS WHY YOU SHOULD BE ACTIVE ON FACEBOOK
6) INCORPORATING CHARITABLE GIVING IN YOUR REAL ESTATE PRACTICE
20) 24-HOUR TOUCH-UPS TO MAXIMIZE YOUR LIST PRICE
Phone 310-734-1440 | Fax 310-734-1440 mag@topagentmagazine.com | www.topagentmagazine.com No portion of this issue may be reproduced in any manner whatsoever without prior consent of the publisher. Top Agent Magazine is published by Feature Publications GA, Inc. Although precautions are taken to ensure the accuracy of published materials, Top Agent Magazine cannot be held responsible for opinions expressed or facts supplied by its authors. To subscribe or change address, send inquiry to mag@topagentmagazine.com. Published in the U.S.
2
Top Agent Magazine
mailto:mag@topagentmagazine.com
Top Agent Magazine
3
Untangling the Bidding War: A Buyer’s & Seller’s Perspectives In a competitive marketplace, bidding wars become the norm. While this may put sellers in an excellent position to recoup on their investment, it can push buyers beyond their budgets and test their temperaments in the process. As an agent, how do you navigate both sides of the coin? After all, you want to net the best results for your client—regardless of which side of the closing table they’re on. To fortify your approach to a heated bidding war, here are a few ideas and insights to better clue you in on the perspectives of buyers and sellers alike. 4
Buyer’s Perspective: Emotions Running High? Channel it. When the market is booming, buyers feel the pressure—especially when affordable inventory is limited. This can create stress, feelings of hopelessness, and impulsivity. As an agent, how do you channel this emotional energy into something positive? Consider asking buyers to put those anxieties and high hopes onto paper. Have buyers outline
Top Agent Magazine ®
Top Agent Magazine
who they are, why they’re inspired to buy a home at this juncture in their lives, and how they see their lives unfolding once they become a homeowner (or repeat homeowner). Think of it as a letter of intent. Buyers benefit from taking abstract fears and dreams and articulating them on paper. Likewise, this document can serve as a valuable tool during a bidding war. Letters like these can help sellers with multiple offers make a personal, emotional connection with a particular buyer.
Sellers Perspective: Manage expectations. When multiple offers are rolling in on a property, it’s easy for sellers to get carried away. Numbers are flying, expectations are heightened, and sellers may become hypnotized by higher and higher offers and ideal outcomes. While it’s good to celebrate prime market positioning, it’s also important to maintain an even keel so that your seller’s mind is clear and they’re thinking rationally through their options. Sometimes the highest offer isn’t necessarily the sure thing. Manage your clients’ expectations by leading by example, offering a balanced perspective, and talking them through all potential outcomes so that they don’t only hone in on the best-case scenario. During a bidding war, tensions are running high for seller’s too, who will soon begin their next chapter in another home. Keep a cool head and remind your client to see the big picture, recognize that it’s possible for some offers to fall through, and to sit tight until the closing table has been successfully reached.
Buyer’s Perspective: How do you authentically and convincingly convey your interest? When ten or so offers are in the mix, it can be hard to differentiate your buyer from the next. While numbers will obviously do a lot of the talking, you’d be surprised how much of a difference a Top Agent Magazine
personal touch can make. Some popular approaches to standing out include personal letters—as mentioned above—tailored to the property. Was the property in question a family home for years? You might have clients detail their dreams of raising a family inside those walls, rather than tear the property down and rebuild something to boost the lot’s value. Including a family photo is also a good tact for personalizing letters in a bidding war. Likewise, little gifts included with your offer can speak volumes about your personality and due diligence as an agent. It may seem a little cheesy, but when sellers are looking at ten near-identical offers, those personal touches can really paint a compelling, personalized picture.
Seller’s Perspective: How powerful is cash? Data shows that cash offers—typical of investor clientele—double the chances of having an offer accepted. This goes hand in hand with waiving a financing contingency, which also helped boost the probability of an accepted offer, according to research. Cash is king, however, since offers that aren’t completely reliant on comprehensive financing seem to minimize risk for sellers, who are already eager to see a deal go through. Cash deals also tend to go through quickly, freeing sellers up to pursue their next property and move on to new horizons. While not every buyer has the ability to operate in cash, it’s a worthwhile consideration for those in ultra-competitive markets and with liquid capital. While the bidding process can be stressful for agents and clients alike, it’s important to remember that it’s a time of opportunity, too. If you want to make the most of it as a seller, data shows that a personal touch can endear buyers to their seller counterparts. For sellers navigating a competitive process, it’s important to keep a balanced perspective. For agents, here’s the bottom line: get creative, be resourceful, and use all the tools in your arsenal to achieve the best result for the clients you serve.
Top Agent Magazine ®
5
Incorporating Charitable Giving in Your Real Estate Practice
As real estate professionals, taking part in the community and serving others is central to a long-lasting practice. After all, agents are in the business of homeownership, building a financial future, and helping their clients begin new and fruitful chapters. With that in 6
mind, how might an agent deliver that spirit of service in a broader sphere? The truth is, charitable giving offers nothing but upsides. Contributing to a worthy cause is a noble and meaningful endeavor, but it
Top Agent Magazine ®
Top Agent Magazine
Contributing to a worthy cause is a noble and meaningful endeavor, but it also presents positive byproducts for the giver: tax write-offs, name recognition in the community, and the ability to expand your network.
also presents positive byproducts for the giver: tax write-offs, name recognition in the community, and the ability to expand your network. If charitable giving is an idea you’ve toyed with, or a practice you’ve engaged in only now and again, here are a few ways to make it a foundational element of your business and a win-win for all.
Find causes that speak to you. Donating funds or resources can feel anonymous if you’re divorced from the organization you’re working with. While national and international charitable organizations are certainly effective and worthwhile, you might consider partnering with local chapters of those organizations, or identifying hyper-local organizations that address need in your state, county, town, or even your own neighborhood. The first step to establishing a charitable relationship is to find a cause that you genuinely care about. For many, animal rescue is a tangible cause where resources and volunteership are always welcome. For others, children’s health and advocacy is a calling. Regardless Top Agent Magazine
of your personal passion, participation can be big or small. From sponsoring a local youth sports league to partnering with an area animal shelter for their annual spay-athon event—there are all sorts of ways to make a difference.
Unite your team for the common good. One way to make charitable giving a staple is to do it in arm and arm with others. Supporting a local cause is a great way to bring your team together in a unifying capacity. Hosting coat drives in winter, blanket drives for local animal shelters, or backpack drives for needy students at the start of the new school year— all are straightforward and highly useful, direct ways to give to your community as a team. It’s also important to set collective goals as a way of keeping people motivated and accountable over time. Offices are productive, but often hectic spaces. Injecting a collective goal with a positive, tangible result can create an ambiance of goodwill and generosity—both of which are worthwhile attributes to cultivate as
Top Agent Magazine ®
7
the leader of your team. Lastly, consider timely giving as a way of connecting your team to their community. Natural disasters, local fundraising drives, and improvement funds are all direct ways your team can contribute, while they themselves reap the benefit in the community.
Include clients in the process. You’ve likely heard of charitable donations made in the name of your client as an alternative to the classic closing gift, but there are a few ways you might update this method of giving. For starters, consider including your clients in the selection process. Do they have a special cause that’s close to their hearts? Likewise, you might
8
consider making regular, consistent giving a part of your routine post-closing. Instead of following up with your yearly poinsettia plant or pumpkin, you might find a cause in their neighborhood or township that you can support in their name. It’s wise to choose something apolitical, but a cause that’s hyperlocal to their area demonstrates unique thoughtfulness. There are plenty of ways in which society as a whole can benefit from charitable causes that build goodwill in the world, support those less fortunate, and bolster a positive future. Incorporating charitable giving in your business model is a generous way to make this mentality a central tenet of your team and a defining characteristic for your clients to remember.
Top Agent Magazine ®
Top Agent Magazine
ERICA CUNEEN Top Agent Magazine
9
With 20 years of real estate experience under her belt in the Chicagoland real estate market, Top Agent Erica Cuneen has a motto: ‘relationship before transaction, every time.’ “You should get your real estate license; you’d be great at this!” These were the words that changed Erica Cuneen’s life forever. Her journey into the world of real estate began with an unexpected twist when her neighbor, a real estate broker, saw potential in her and urged her to leave teaching behind. That’s exactly what she did, taking those words as a challenge to embark on an 10 Copyright Top Agent Magazine
incredible journey. “I wanted to stay home with my kids,” Erica recalls. “When my neighbor encouraged me, I decided to go for it. And he was right, I was pretty great at it! I was able to stay home with my kids, working nights and weekends at the very beginning, and by the time my kids were in school I had a pretty full book of business and eventually opened my own company.” Top Agent Magazine
The rest, as they say, is history. With 20 years of real estate experience under her belt, Erica’s innate talent for connecting with people, and connecting people with each other, have made her a standout in the Chicagoland real estate market. “I’m a pretty great connector,” she notes with pride. “I love making those magical
Top Agent Magazine
moments happen. My motto is, ‘relationship before transaction, every time.’” As broker and owner of Beyond Properties Realty, she leads one of two teams and concentrates mostly on listings. Erica’s approach to real estate is centered around genuine care and empathy for her
11 Copyright Top Agent Magazine
Erica’s approach to real estate is centered around genuine care and empathy for her clients. “We help them see what they can’t see,” she says. clients. “We help them see what they can’t see,” she says. “We go above and beyond to make sure that our clients are in the right community, in the right home,” she adds, explaining how she helps her clients see the potential in properties and neighborhoods they might overlook. Guiding them through the process, she creates a clear path to their dreams. Communication is also key for Erica. Her dedication to her Copyright Top Agent Magazine 12
clients goes beyond the sale — she’s there to support them throughout their journey. Erica’s daily routine involves a meticulous balance of calls and connections. “I probably talk to about 20 people a day on the phone,” she shares. “We keep in very close contact with our clients.” Beyond calls, her client events foster a sense of community, connecting people and creating magical moments. Top Agent Magazine
Erica’s love for her work and her community extends beyond real estate. Her involvement with local organizations like Beyond Hunger and Seven Generations Ahead showcases her commitment to making a positive impact. Her company’s dedication
Top Agent Magazine
to environmental causes and sustainability exemplify her values in action. Erica’s drive isn’t just about selling homes; it’s about nurturing the world around her. As she puts it, “I love being helpful and being a resource for people.”
Copyright Top Agent Magazine 13
Outside of her thriving real estate career, Erica’s adventurous spirit shines. From kayaking to camping, she embraces life with curiosity and enthusiasm. Her diverse interests reflect her dynamic personality, always seeking new experiences and pushing her boundaries. “I’m always looking for something new to try,” she admits. “I also used to play roller derby, and I’m a big foodie!”
With her sights set on the future, Erica envisions steady growth while maintaining a balanced life. Her commitment to quality over quantity echoes her journey from teaching to real estate. “Growing 25 percent a year has worked well for us so far,” she adds. Her company’s growth mirrors her own personal evolution — one of purpose, connection and continuous improvement.
For more information about Erica Cuneen, please call 708-220-2025, email erica@beyondpropertiesrealty.com, or visit her website here https://www.beyondpropertiesrealty.com/realestateexperts
Copyright Top Agent Magazine 14
Top Agent Magazine
1 Billion-Plus Reasons Why You Should Be Active on Facebook By Bubba Mills
The number is staggering and potentially career ending for REALTORS® who ignore it: 1,440,000,000. That’s the total number of monthly active users on the social medium Facebook. That number alone is reason enough to use it regularly in your real estate business. But Facebook can also help turn you into the expert in your community. Just by sharing knowledge and relevant events about the community you can become the go-to source for all things local – a perfect way to capture the attention of prospective buyers. Plus, Facebook advertising also gives you tons of targeting layers like age, location, recent life events and interests. Plus, it constantly adds new targeting filters and functions that help you reach even more niche prospects who closely meet your customer criteria. Talk about pinpointing a target audience. Top Agent Magazine
Top Agent Magazine
15
Another Facebook real estate ad tool is Website Custom Audiences that lets you create Facebook ads that target users who have visited your website. And several apps specifically for Facebook have emerged. Consider these: • Heyo.com: Helps you host contests, showcase promotions and high-
light special offers. • Woobox.com: Let’s you easily create quizzes and other fun tools for engaging content. • Pagemodo.com: Helps you make your Facebook business page both sleek and stylish and tabs allow for easy lead capture. But the latest offering is just as cool. It’s called Facebook Live and it lets you stream live video on the internet. I recently wrote about Periscope, another live video streaming app, but when you use Facebook Live you’re automatically featured at the top of Facebook users’ news feed. What’s more, statistics show that live video is viewed more than recorded video. How can REALTORS® use Facebook Live? Open Houses: Broadcast a walk-through of a new listing
and highlight all the great features.
Webinars: Host live webinars targeted to buyers and sellers. They can sub-
mit questions just like a real-life seminar.
Real Estate Talk Show: Offer the latest news in the industry plus share lo-
cal events and your newest listings. In short, become the Lester Holt or Diane Sawyer of real estate in your town with your own “TV” show! Facebook offers these tips for using Facebook Live: Promote: Tease upcoming Facebook Live broadcasts for more viewers. Plan better: Take time to plan what you want to do in the video, whether
it’s a few key talking points or to have a few questions ready ahead of time in a Q&A, in case incoming comments slow down. 16
Top Agent Magazine
Top Agent Magazine
Invest in some equipment: A shaky live stream turns off viewers so con-
sider a tripod or other stabilizing tools, especially if you’re taking viewers on a tour of an open house. And check the shot before going live.
Get the lighting right: If you’re indoors be sure you have plenty of good
lighting and avoid a lot of light directly behind you because it’ll wash you out.
Sound good: A common mistake for beginners is overlooking sound.
Consider an external microphone to make sure your viewers can actually hear you. And if the live option makes you a little nervous, you can also stream pre-recorded videos. Hey, that has worked like a charm for TV for decades. Some businesses promote their web series to “air” on Facebook Live at a certain time like TV shows. After they are streamed, Facebook Live videos function as normal Facebook videos. Some business owners believe videos may perform better if they begin as live ones. NowThis, a news company that publishes entirely on social platforms, experimented by streaming a 38-minute compilation of its favorite viral videos via Facebook Live. The stream received over 20,000 views and over 500 comments, according to Facebook’s counters. Yes, all the new-fangled internet tools, apps and options for REALTORS® can be a bit overwhelming. Just take it one step at a time and you’ll slowly be right there in the business-winning mix. E-mail me today at Article@CorcoranCoaching.com and I’ll send you more free information about how technology can help your real estate business. Copyright©, Bubba Mills. All rights reserved.
Bubba Mills is the CEO of Corcoran Consulting and Coaching Inc. (www.corcorancoaching.com/programs, 800-957-8353), an international Real Estate, Mortgage, and Small Business coaching company committed to helping clients balance success in business, while building value in life. Bubba Mills is a nationally recognized inspirational and education speaker, coach and mentor to the top real estate agents and mortgage companies. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com. Top Agent Magazine
Top Agent Magazine
17
Laughs!
18
Top Agent Magazine
mailto:mag@topagentmagazine.com http://www.topagentmagazine.com
Top Agent Magazine
19
24-Hour Touch-ups to Maximize Your List Price Sometimes it takes a full-scale overhaul to prepare a house for market. Other times, only a series of small adjustments are required to make a listing’s true potential shine. Whether you’re gearing up for an open house, assessing a list price, or maximizing a property’s appearance prior to photography—the devil is in the details. However, touch-ups and refreshes don’t have to dominate your schedule or break the bank. For a few ideas of where 20
to begin, consider our handy check-list below for quick home projects that will fortify your bottom line.
Refresh grout for a sparkling clean look. Perhaps the quickest and most cost-effective way to make bathrooms, kitchens, and other tiled areas shine is to refresh grout until it looks
Top Agent Magazine ®
Top Agent Magazine
good as new. Specialty grout stain removers and cleaners are inexpensive and sold at most home improvement stores. Plus, the project only takes a bit of elbow grease and an hour or two for a major makeover effect. Suddenly, dark, stained, and worn-down bathrooms gleam as if tile has just been placed.
Create mood lighting with soothing bulbs and fixtures. A warm white light from specially chosen LED bulbs creates a welcoming environment when potential buyers come calling. If outdated fixtures are bringing down a home’s otherwise modern styling, consider more design-neutral replacements that won’t
Top Agent Magazine
detract from the property’s charms. These are inexpensive but highly noticeable and impactful upgrades that shift a home’s ambiance for the better.
Repaint doors for an updated and inviting entryway. It may sound like a hassle, but repainting doorways with a fresh coat signals a wellkept property—and that’s before prospective buyers even pass through the threshold. You can also change out generic doorknobs and switch-plates to add an updated flare while on a budget. Color-of-the-year trend choices can turn heads, while neutral paint choices signal less hassle for future homeowners.
Top Agent Magazine ®
21
scrub, or with the addition of new shelves or styled bulbs.
Make windows shine— both inside and out. Cleanliness goes a long way in communicating a well-cared for home in which buyers can imagine themselves. Cleaning the inside and outside of windows not only refreshes a room, but it allows light to infuse the space while appealing to the move-in ready crowd.
Closet spaces are not an afterthought. Every prospective buyer wants storage options, and you’ve surely led a home tour where guests inspect closets and pantries. Don’t let these hidden spaces go overlooked. Make sure they’re clean, cleared as much as possible, and you can even touch them up with fresh paint, a good
22
Remove tough appliance stains with a bit of elbow grease. If you’re packaging appliances with the sale of a property, you’ll want to make sure those big-ticket items are also in top shape to showcase their value. Stainless steel polish, electric cooktop polish, and stain removing pads for the kitchen sink can make your appliances look five years younger with nothing more than an hour or two’s labor.
Organize garage and basement areas to maximize storage and hint at bonus space. It may take a labor of love, but organizing and decluttering these special storage spaces
Top Agent Magazine ®
Top Agent Magazine
can add significant value to a property. Instead of telling prospective buyers how much storage space there is—let these areas speak for themselves by giving them a neutral, airy bout of cleansing. That way, craft-lovers, car aficionados, and buyers with interest in renovating basement areas can witness the potential immediately. Individually, these bit to-do list items might seem like extra work without the promise of Top Agent Magazine
a major return. But combined? These small tasks go a long way in crafting a home’s image and projecting pure potential. After all, prospective buyers imagine their lives unfolding inside those walls. That’s why cobbling together these small-scale projects can have a big payoff in the end. Not only will a home present itself in a cohesive, attractively-packaged form, but it can also translate to higher interest and a significant pay-off—in more ways than one.
Top Agent Magazine ®
23
mailto:mag@topagentmagazine.com
24
Top Agent Magazine