FLORIDA 5-2-22

FLORIDA EDITION

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WAYS TO TRANSFORM RENTERS INTO OWNERS

By The Numbers:

UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

COVER STORY

CONNECT BEYOND REAL ESTATE TO ATTRACT FUTURE CLIENTS

6 Things ALL Successful Negotiators Do

LISA SOLOWAY & ALLISON ROMAN

FLORIDA EDITION

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LISA & ALLISON ALLISONROMAN ROMAN LISASOLOWAY SOLOWAY & Lisa & Allison serve clients in Florida’s Brevard County from Merritt Island down to Palm Bay, especially in Melbourne where their eXp office is located.

CONTENTS of the most impactful decisions most of

When they teamed up in May of 2021, Realtors® Lisa Soloway and Allison Roman had a list of things they wanted to emphasize to distinguish their services.

At the top of that list was honoring the trust people were placing in them for one

4) CONNECT BEYOND REAL ESTATE TO ATTRACT FUTURE CLIENTS 15) 5 WAYS TO TRANSFORM RENTERS INTO OWNERS

us make in our lives. “Whether they are looking for their dream home or selling a house to move into the next chapter of their life, you are essentially helping people realize their goals and dreams,” Lisa

18) 6 THINGS ALL SUCCESSFUL NEGOTIATORS DO 20) BY THE NUMBERS: UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

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CONNECT BEYOND

REAL ESTATE

to Attract Future Clients What kind of content are you sharing on your blog, website, and social media? Does most of it have something to do with buying or selling a home? While sharing the latest market information or tips on how to qualify for a mortgage, or when someone should buy or sell is important and demonstrates your value as a REALTOR®, it shouldn’t be the only subject you cover. If you only focus on real estate, you’ll be missing the chance to connect with future clients that might not be ready to move just yet. By sharing a lot

of industry-heavy content, you are only going to appeal to those who are currently in the market rather than a broad base of potential clients.

To pull in those other future clients you want to provide fresh, interesting content that will appeal to those possible future clients that aren’t quite ready to move yet. However, you also want to still tie this content back into your business goals.

So, how do you share content that will speak to a wider audience, but also still be relevant to your business?

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Talk About Your Philanthropic Activities

The philanthropic work you do to support your community says a great deal about who you are as a person. Many people will be attracted to working with you because of the charitable works you are involved with. While you may be hesitant to share these efforts because you feel it may come across as bragging, you also need to remember that sharing information about the charitable organizations you support will actually help those organizations. Many of them have small marketing budgets, so any free exposure you can give them helps to promote their cause.

In fact, they want and need you to promote them.

And you can promote them without coming across as a braggart. Focus your content entirely on the organization. Talk about why you support them, how they help the community, and how others can also get involved. This turns what could have been bragging into something that benefits everyone. n

Your Local Community

We humans are connected to each other through our community – our local sports teams, parks, churches, schools, and much more. What better way is there to connect with people in your community than to talk about your community? Demonstrate that you are an expert on your community, and bring that community to your followers. Share information about a local event; perhaps even share the actual event through live-stream video. Interview city officials to get the low-down on the latest development project. Share information with your followers about things they didn’t know about their community. Consult with local historians or the historical society to share interesting information about your community that your followers will want to read. You could even turn it into a series of podcasts or videos. n

Use Your Creativity to Connect

Find creative ways to engage your followers on the topic of real estate. Try engaging your followers in an interactive project such as posting photos of interesting front doors. Doors are the entry point into our homes as well as our private lives. The way we adorn our front door can give someone a sense of our style and personality. Ask followers to submit photos and choose one to post each Friday. Make sure to watermark each photo with your logo at the bottom and include an inspirational quote that ties back to the importance of home. You could also ask your followers to provide a little story or caption to go along with the photo that tells something about them and their home. These kinds of projects are interesting and unique, and clearly connect back to your business. n

Share Your Hobbies

Are you an adrenalin junkie who has bungee jumped from some of the tallest bridges in the world? Are you a foodie that grows your own organic vegetables and fruit? Do you have a Top Agent Magazine

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secret passion for photography? Everyone has hobbies that they enjoy outside of work. When you look past the surface people become quite interesting. People also happen to find interesting people interesting, and tend to remember people based on their distinctive traits. We humans love discovering a person’s behind the scenes story, the mind behind the face. While you don’t want to talk too much about yourself, sharing pieces of your personal life and things that interest you can be a great way to connect with followers. By sharing interesting facts about your life, you will find that many followers will feel a strong, personal connection to you based on your hobbies and personal interests. n

Divulge Interesting Experiences

This is somewhat similar to the idea of sharing your hobbies. Sharing some of your more interesting personal experiences such as a fateful conversation with a stranger or an exciting adventure you had while in another country can be a great way to connect with followers as long as it also relates to some kind of life or business lesson. Talk about experiences you’ve had with clients or purchasing your own home. Experiences that relate to your business are great ways to connect with future clients in a manner that goes beyond the world of business. n

What and Who Inspires You

No matter what you’ve chosen to spend your life doing, you didn’t get there alone. You may have had a mentor that made a special impact on your life or someone already in the business that you looked up to and who perhaps inspired you to get into real estate. You may have found inspiration through a love of architecture or design. People want to know why others do the things they do. Sharing who or what influences you in your personal and business life is a great way to connect with followers. Recognizing that you didn’t get to where you are now by yourself shows humility, and talking about those people that had an influence on you shows others that you stay connected to the world and people around you.

Connecting with potential clients is something that is essential to any REALTOR’S® business. If you’re doing the work to create interesting blog posts and make those connections, you want to make sure that you’re sharing the right kind of content to draw in those future clients. It takes a lot more than simply providing the latest market news. To get the most out of what you share, you need to provide a wide array of interesting content

that will draw in a broad range of followers.

Providing the right kind of content can make all the difference when it comes to connecting with future clients and building the right kind of relationship with them right from the start. Connecting through your website or social media and sharing more than just real estate advice will help you build confidence and trust with future clients before you even meet them.

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LISA SOLOWAY & ALLISON ROMAN

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LISA SOLOWAY & ALLISON ROMAN Lisa & Allison serve clients in Florida’s Brevard County from Merritt Island down to Palm Bay, especially in Melbourne where their eXp office is located.

When they teamed up in May of 2021, Realtors® Lisa Soloway and Allison Roman had a list of things they wanted to emphasize to distinguish their services.

At the top of that list was honoring the trust people were placing in them for one 8

of the most impactful decisions most of us make in our lives. “Whether they are looking for their dream home or selling a house to move into the next chapter of their life, you are essentially helping people realize their goals and dreams,” Lisa Top Agent Magazine

explains. “It’s such a privilege to have the opportunity to do that.”

Lisa has a background as an entrepreneur, a wealth strategist, and an investor. She and her husband have purchased and flipped a number of homes over the years, keeping others to rent out as Airbnbs. The knowledge she gained has benefited her buyers and sellers alike as she helps them get the best value on their investment. Allison came to the industry as a former teacher, and so is always thinking beyond the transaction itself to make sure her clients come away with Top Agent Magazine

more understanding of the process than they had before. “I love educating people about the market, which I’m constantly doing either in person or through my social media posts,” says Allison. “For instance, showing them how the rent they are paying would translate into a mortgage to purchase their own home.”

Lisa and Allison serve clients in Florida’s Brevard County from Merritt Island down to Palm Bay, especially in Melbourne where their eXp office is located. Since teaming up they’ve closed $4.2 million in sales volume, with around half of that 9

business coming from referrals or repeat clients who trust them to always have their best interests at heart. “Our model is to simply let people know we’re there to help them when they’re ready,” says Lisa. “We never pressure anyone into a transaction.” Allison agrees, adding, “This business is about building relationships. You can’t be chasing commissions or paychecks.”

The team utilizes a comprehensive marketing strategy for their listings, taking advantage of eXp’s extensive networking

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program to attract both national and international buyers. They also use lots of social media and video marketing.

Moreover, they maintain a database of buyers in waiting, and so are often able to match a home with an interested buyer very quickly, often before a property even goes live.

Both women are dedicated to public service, and they’ve built that value into their business. With their Hero Award they give back $500 from each commission to active or former military, teachers,

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or first responders. Another 10 percent of their commission goes to benefit the lives of teens in foster care or who have experienced homelessness.

Lisa adopted her daughter from foster care and that is when she realized there are so many teens who age out of foster care at 18 and many end up homeless. When she moved to Florida from Connecticut she sought out to help these teens aging out of foster care and found a huge need in her community. She then founded LiftUp Young Lives, a life skills program equivalent to a two semester college year. Students earn a good used car upon graduating the program to help them get to school and work and, most importantly, help them transition to adulthood. When Lisa met Pam Bress, the Execute Director of Ready for Life Brevard, Lisa and a few others started Top Agent Magazine

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Ready for Life Brevard which assists teens aging out of foster care and those experiencing homelessness get housing, their GED, guidance in career path and many other wrap-around services. LiftUp Young Lives became the life skills program of Ready for Life Brevard in January, 2022 and will begin another class in March 2022. To learn more, go

to readyforlifebrevard.org Going forward, the women want to continue building their team and their business in a way that allows them to continue delivering exceptional, personal service to their clients while also nurturing the community’s growth in ways not connected to real estate.

To contact Lisa, call 321-301-0824 or email lisa.soloway@exprealty.com. For Allison, call 321-720-2141 or email allison.roman@exprealty.com.

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Michael Cruz is proud to congratulate

Lisa Soloway & Allison Roman

on being featured for the State of Florida in Top Agent Magazine!

We’re Here to Get You Home

Michael Cruz I Branch Manager I NMLS# 1078321 321.591.3064 | mcruz@bayeq.com

bayeq.com/Michael-Cruz

www.

501 East New Haven Avenue, Melbourne, FL 32901 Not intended to solicit loans in states I am not licensed in. Bay Equity LLC. Equal Housing Lender. This is not a commitment to lend or extend credit. Restrictions may apply.

Rates may not be available at time of application. Information and/or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Bay Equity LLC, 770 Tamalpais Drive, Suite 207 Corte Madera, CA 94925; NMLS ID#76988 | NMLS consumer access: www.nmlsconsumeraccess.org/ EntityDetails.aspx/COMPANY/76988. Florida Mortgage Lender Servicer License #MLD1014.South Carolina BFI Mortgage Lender/Servicer License #MLS-76988, OTNN#1

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5 Ways to Transform

Renters into Owners Perhaps the largest demographic of untapped business lies in the rental market. From major cities and suburbs to rural communities—renters across generations are opting to rent rather than own. The question is: why? For starters, many Americans are undereducated about the inventory and financing options available that might suit their budget and lifestyle. Secondly, many would-be homeowners have difficulty Top Agent Magazine

visualizing the potential investment of purchasing property, and how homeownership can build wealth and security in the long-term.

As an agent, you’re always on the lookout for potential clientele. Now, to guide renters toward the real estate market, keep a few of these strategies in mind as you meet and greet this untapped demographic.

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Show renters that purchasing a home isn’t impossible

Possibly the biggest hurdle for renters is believing homeownership is possible. Beyond saving for a down payment and boosting credit scores, there are dozen more factors to consider: affording utilities, homeowner’s insurance, renovations, property taxes, and more. Besides that, assembling pay stubs, finding an agent, arranging house tours, negotiating a price, and timing the transition are all major considerations to surmount.

One way to combat this thinking is to make the process transparent and demystified. Find examples of past clients who made the leap successfully, or profile the average buyer in your marketplace and see how that renter compares. Provide evidence that it’s been done before and can be done again, then build a game plan from there.

into play. Consider making a checklist, or step-by-step road-map, that guides clients through the process from start to finish. This way, you’ll manage expectations and create a path to ownership that’s specific, instead of abstract. They won’t have to wonder what goes into buying a home when they can look at an interactive site or read a document and see the steps outlined before them, with you there to guide the way.

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Collaborate with mortgage professionals to find the right financing opportunities

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Help would-be homebuyers create a road-map to ownership

It’s no secret that buying a home can feel overwhelming. Compared to signing a yearlong lease on an apartment, taking on the house-hunting process is a daunting affair.

That’s where your expertise as an agent comes 16

Many renters aren’t aware of the variety of mortgage financing options out there that cater to first-timers, offer low down payments, or down payment assistance. Most buyers believe that the standard 20% down is a hard and fast rule, when in reality, there’s far more flexibility out there to cater to renters where they are. There are even loan options catering to freelance workers, renovation options, and other unconventional routes to ownership.

Work with a mortgage pro and find the route that suits your renter best.

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pay monthly in a mortgage—while building a lasting asset.

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Compare and contrast rental rates with monthly mortgage payments One way to convince renters to make the shift is to demonstrate the savings potential of paying into a monthly mortgage, rather than throwing away rent on a property they don’t own. To do this, draw up the average rental rates in your area, then find some potential listings that would demand a similar amount in monthly mortgage payments. Sometimes placing these numbers and images sideby-side can prove to renters that what they manage to pay monthly in rent, they can

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Paint the big picture

For most, renting isn’t the most sustainable financial option when it comes to housing.

Rents rise, families grow, and retirement looms.

Building a financial future and homeownership go hand-in-hand. When planned appropriately, buying a home can create a path toward retirement and position homeowners in a better place for further investment in the future. A rental has little security or investment returns to offer, while owning a home makes a renter king or queen of the castle.

Prospecting renters as potential homebuyers may seem like a time-intensive way to cultivate new clients, but logic is on your side.

Keep these tips in mind as you broach the conversation with renters in your hometown.

All it takes is clear-cut value proposition and a listening ear.

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6 Things All Successful Negotiators Do If you think about it, you’ve been negotiating your whole life. As a kid you negotiated constantly with your family, your teachers, and your classmates. If you’re a parent, you’re negotiating probably more than you ever have in your life. But it’s one thing to negotiate staying up late on a school night, people oftentimes have trouble translating those real world negotiation skills into the business world. But the truth is there are a lot similarities.

Expert negotiators all have skills and techniques they bring to the table. It’s quite possible you also have them, and don’t even realize 18

it. Here’s a look at some traits that are common among expert negotiators.

1. They keep emotion out of the process It’s very easy to feel frustrated, angry and defensive during a negotiation process. But when emotions run high, it’s often difficult to respond with logic and reason. This can be especially difficult if the person you’re negotiating with tries to escalate the situation. As the saying goes, keep calm and carry on. You

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have an end goal in mind, and getting heated won’t help you meet it. If things don’t go your way, remember it’s not personal. Best to leave the table with no hard feelings. Hopefully even though you may not have gotten what you’ve wanted this time around, you’ve established a foundation for success at your next try.

2. They’re reasonable If you don’t ask for what you want you’ll never get it, but at the same time, you need to be reasonable about what you’re asking for. Yes, ask for a little more than you want, so you have some wiggle room to compromise. But if you ask for too much too soon, you might shut down the person you’re negotiating with from the start, or even worse offend them. No one wants to feel like they’re being taken advantage of. Ask for what you deserve and you’ll never go wrong. At the very least you might start the conversation on how that might be possible down the line, if it isn’t just yet.

3. They’re well-prepared Part of being reasonable is being well-prepared. One of the biggest mistakes novice negotiators make is showing up over-confident and under prepared. Have the research and facts to back up what you’re asking for. Show your negotiation partner evidence of why what you’re asking for is not only fair, but necessary. Facts are hard to shoot down. This will also give you the confidence to really push for what you want. It’s not just something you think, it’s something that’s undeniable true. If you go in unprepared you’re more likely to flounder, which will damage your credibility going into future negotiations.

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4. They always strive for a win/win solution for everyone Yes, negotiations are about getting what you want, but as the old saying goes, you get more flies with honey than vinegar. Your negotiation partner might also have reasonable requests that you need to consider. Ultimately, successful negotiations are about compromise on both sides, and ending up with an outcome that benefits everyone.

5. They’re creative Problems and conflict are a natural part of any negotiation. One surefire way to impress, is to head off any impending roadblocks, by coming up with creative solutions. It’s easy to point out problems and be negative. Truly expert negotiators think outside the box, and dazzle with innovative concepts and ideas that leave everyone excited about the process.

6. They’re good listeners Listening in order to really understand where your negotiation partner is coming from is important for two reasons: you not only want to make them feel heard, but knowing what they want is invaluable information you can use to get what you want. At the start, you’re gathering information by asking questions and really hearing what they say, which includes picking up on body language and nonverbal cues as well. This is part of being well-prepared, using every possible thing you can to have an advantage.

Being in control of the situation, and then leading everyone to a successful conclusion all around is what great negotiation is all about.

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By the Numbers:

Understanding the True Value of Square Footage Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure.

True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of 20

a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.

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1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus,

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original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.

2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage: n

Called “below grade spaces,” basements and sunrooms beyond a home’s typical

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living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings. n

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Did you know the space inside closets and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.

When recording square footage, ANSI actually suggests performing measurements from a property’s exterior—though this method does not account for the

thickness of exterior walls, which could skew square footage numbers. n

Just like below grade spaces, a garage, a pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.

3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures

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Laughs!

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