ILLINOIS EDITION
Top Agent Tips and Questions for CHOOSING YOUR LISTING AGENT A Step-by-Step Guide to CONVERTING INTERNET LEADS TO REAL LIFE SALES
Developing Your PRICING PHILOSOPHY How to Throw a CLIENT APPRECIATION EVENT No One Will Forget
FEATURED AGENTS
CHARDONNEE CUNNINGHAM ERIC PORTER
COVER STORY
CARLA GORMAN
ILLINOIS EDITION
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CARLA GORMAN
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CHARDONNEE CUNNINGHAM
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ERIC PORTER
CONTENTS 4) TOP AGENT TIPS AND QUESTIONS FOR CHOOSING YOUR LISTING AGENT
19) HOW TO THROW A CLIENT APPRECIATION EVENT NO ONE WILL FORGET
13) DEVELOPING YOUR PRICING PHILOSOPHY
22) A STEP-BY-STEP GUIDE TO CONVERTING INTERNET LEADS TO REAL LIFE SALES
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Top Agent Tips and Questions for Choosing Your Listing Agent Now that you’ve decided to sell, it’s time to select the professional to help you market your property. Before meeting with agents, however, consider Top Agent Magazine’s tips for preparing yourself. Frist, ask yourself what kind of relationship you’d like to have with your listing agent. Are you seeking a casual, personable relationship and the latest marketing tools or are you interested in a more formal, traditional relationship and approach to marketing techniques? Next, populate your list of agents by attending open houses and asking for recommendations from recent buyers and sellers. Finally, schedule your meetings at your home, where you’ll be able to gauge the chemistry between you and each agent. During your meetings, expect any Top Agent to ask you several questions, but also consider discussing the following: 4
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Will you please describe your sales experience and local network?
Ask your Top Agent to describe recent listings and sales of homes comparable to your own. Ask about the sellers’ priorities, the original list price, market time and number of offers. Top Agents will also describe how well they are connected with other REALTORS® in the region as well as their contacts with relocation companies, local corporations and chambers of commerce. Be sure to ask about each agent’s knowledge of how your market has changed over time and what has influenced change.
You’ll learn a lot by listening to agents’ opinions.
How will you market the property? Each
Top Agent has a unique set of online or local marketing tools at his or her disposal. Some use lead-generation applications and nearly ever luxury agent take advantage of video. Even video marketing tools vary from agent-to-agent, however. You’ll get to decide if you prefer an agent with higher-end video production and 3D Matterport tours or an agent with more intimate techniques featuring walk-and-talk style video tours. What factors influence your list-price recommendation? Before an-
swering this question, most Top Agents will have several questions for you, including whether you’re more focused on a faster sale or a higher list price. They’ll also educate you on how best to balance both market time and list price relative to sales histories your area. Now that you’ve seen the home, what repairs or improvements do you recommend before listing? You’ll learn a lot by listening to agents’
opinions on your home’s sale potential with or without some improvements. Most Top Agents will also recommend a full professional inspection prior to listing to avoid surprises during buyer inspection.
How will you help with staging? Some Top Agents will pay for part or
all of the staging costs. At a minimum, however, a Top Agent will have a staging professional or two in their partner network. While they’re at it, they may provide referrals for carpet cleaning, painting, gardening and other minor finishing touches. Top Agent Magazine
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What attributes of the property will you want to highlight? Each Top
Agent will have a somewhat different answer to this question, but that’s a good thing! Even if you have your own ideas about your home’s greatest attributes, you’ll glean insight into the current market by considering different agents’ opinions. In learning their views, you may even change your mind about your home’s most marketable features!
What is your approach to Open Houses? How many agent-only Open
Houses will your Top Agent want to host? How many truly Open Houses? Some Top Agents may even reveal a “swankier” approach to the Open House – such as an evening cocktail party or by-invitation “open” hours to which buyers visit along with the agent representing them.
Who will be our primary point(s) of contact from your office? This
important question will help you understand the scope of your agent’s practice. You’ll get to see if your agent runs a robust team with many hands on deck or if he or she works by close, one-on-one contact with each client. Either approach is wonderful; you get to decide what suits you. Now, let’s list! 6
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“I’m with clients from start to finish— and sometimes it’s over multiple years, if I’m selling their kids’ houses or their parents’ houses or helping other family members.”
CARLA GORMAN Someone with a background and education in public service fields can see real estate for what it is – a service that allows professionals to help people while also giving back to communities. Carla Gorman, an associate with Baird & Warner, Chicagoland’s largest, locally owned independent residential real estate services company, exemplifies all that and more. After earning her bachelor’s degree in speech pathology and her master’s in public administration and higher education, she first worked in corporate event planning and fundraising. “But a few years back, my husband, who is in construction, said he thought I’d like real estate because I love helping people and I’m good at sales.” 8 Copyright Top Agent Magazine
Carla gave it a shot, earned her license and committed to two years in real estate, figuring that if she didn’t love it, she could bring her education an experience back to the corporate world. “My first year, I was hooked!” she says. “I loved helping people, going through homes and looking at design options; it made sense for me.” For 2014, as a new agent based out of South Suburban Orland Park, she was named Baird & Warner’s Rookie of the Year. Her second year, she sold 43 homes ($12 million); and by the end of her third year was headed for at least that much with 50 sales. “The best part is working together with clients. There’s nothing more fulfilling than Top Agent Magazine
seeing something through from start to finish when matching people with homes.” In building her business, she has grown familiar with various parts of Chicagoland, meeting clients wherever they need her. “I’m not against trying anything,” she says. “Some people won’t go out of their comfort zone or go into the city if they get referrals. But I believe that putting yourself outside your comfort zone is how you maximize your potential.” When learning new neighborhoods, she spends time there, speaks to people and visits the coffee shops. Top Agent Magazine
Her clients appreciate Carla’s willingness to think outside the box. “I also pride myself on a ‘No BS’ approach. For example, anyone can underprice a house to sell it quickly,” she says. “But that doesn’t help anyone. I’m honest. I won’t tell them their neon walls look great; I’ll say that with a little work, we can prepare and stage the house so that people can visualize themselves in the home. The first 30 days are critical.” In addition to staging, professional photography and advertising on the major real estate websites, Carla believes in the power of well-timed, Copyright Top Agent Magazine 9
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highly-targeted, Facebook posts boosted to specific buyers. “I also maximize brokers open houses by coordinating multiple brokers opens at once.” Another of Carla’s successes with marketing comes from her eagerness to connect with people and stay in touch over time. She can’t imagine not nurturing relationships with her clients during and after their transaction. Part of the reason she works independently is to offer that high-touch service. “I don’t pass clients off to other people,” she says. “I’m with them from start to finish and sometimes it’s over mulTop Agent Magazine
tiple years, if I’m selling their kids’ houses or their parents’ houses or helping other family members.” Her clients hear from her regularly by phone and with special, seasonal gifts about four times a year. “At Thanksgiving, I bring pies to my past clients; in the spring I did pop-bys with Girl Scout cookies; and I might give sports calendars with the Blackhawks, Cubs or Sox schedules to help stay connected.” Carla stays involved in local organizations, supporting charities selected quarterly by Baird & Warner. Through her impeccable service and local visibility, by the end of her Copyright Top Agent Magazine11
third year in real estate, she was receiving 70% of her business from referrals. With the goal of increasing her business year over year, and eventually building her own team, it won’t be
long before Carla reaches 100% referrals. “It’s important to work hard, but what you put into real estate is what you get out of it,” says Carla. “Passion is priceless.”
To learn more about Carla Gorman, visit carlagorman.bairdwarner.com or facebook.com/buyandsellwithcarla, Email carla.gorman@bairdwarner.com or call 708.217.1185 http://
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Developing Your Pricing Philosophy By Dirk Zeller
Ask a dozen agents to explain their home pricing philosophy, and you’ll
hear a dozen different approaches. And if the talk reveals frank responses, you’ll also learn that the most common pricing strategy is no strategy at all. Here’s my advice: Break out of the ranks by establishing and following a specific strategy for arriving at the ideal selling price for each home. Adopt the philosophy that, in real estate sales, price is king. Price trumps all other factors—including marketing approaches, home condition, market competitiveness, and sales approach. I believe that, in the end, marketing and condition of the property are controlled by the price. The alternative, advocated by many agents, most sellers, and even some sales trainers, is to emphasize marketing over pricing. Rather than working to set the ideal price, they believe success will come from optimizing the home’s condition and presentation and then marketing it with skill and savvy.
I take the opposite belief, based on years of experience working with sellers who wanted unrealistic prices for their homes and who experienced firsttime sales failures as a result. Over my sales career, I resurrected and re-listed more than 600 expired listings—nearly 75 a year. Among all those transactions, I never met an owner with an expired listing who thought that an unreasonable price had anything to do with the home’s failure to sell. They all blamed the previous Copyright Agent Magazine Top Agent Top Magazine
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agent and that person’s approach to marketing. Each sought some magic marketing strategy to change the reality of the law of supply and demand. There is a magic strategy: Price the home correctly. Price is the only factor that can overcome sales obstacles, compensate for a home’s deficiencies, and motivate a purchaser even if the condition of the property and your marketing approach is less than perfect. Getting the listing at any cost Does this scenario sound familiar? An agent (usually a newer agent) is short on business or maybe even desperate for the chance to stake a sign in someone’s yard. The agent wants a listing at any price – even if the chance 14
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to seal a deal erodes the likelihood of selling the property. To gain a seller’s nod of approval, the agent makes a flatteringly high pricing recommendation, throwing out a number the client wants to hear and then hoping something good will result from the bad situation. I can think of few examples, if any, where this philosophy works. Hope isn’t a successful pricing strategy. Worse, the please-the-client mindset is a hard one to abandon. Agents who achieve listings with unrealistic prices find it hard to later counsel their clients honestly.
If you take and price a good listing competitively, it will sell. You can’t keep a good price a secret! The pitfalls of a “please the buyer” approach are many and significant. By overpricing, you can practically count on a reduction in your productivity, profitability, and salability, and here’s why: It’s impossible to keep your productivity high when your time is spent in conversations with an unsuccessful seller who lacks motivation to take corrective action. The seller’s negativity, concerns, and phone calls will only increase with each week or month the house remains on the market. Top Agent Magazine
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As time goes on, you’ll devote more and more time unsuccessfully trying to create a sale not only for your seller but also for yourself. This will pull you away from activities that are more likely to deliver income. The ensuing frustration will de-motivate you and stunt your ability to secure better appointments that create other income opportunities. An unsold, overpriced listing negatively impacts your profitability because it costs you time and money to service while it delivers no revenue to your business. And the situation only gets worse the longer the listing languishes on the market. You’ll end up deducting the expenses of this in-limbo listing from the proceeds generated by any revenue-producing deals you manage to close in the meantime, reducing your net profit and business success. Unsold homes that linger on the market seriously diminish your salability, which is the term that describes your sales success track. Your salability is based on such key statistics as your average ratio of listing price compared to sale price and the average number of days your listings are on the market. Obviously, these statistics, which prospects rely on when choosing one agent over another, can be crushed by a “get the listings at any cost” philosophy. They’re also harmed by the “start high and reduce later” tactic. If you take and price a good listing competitively, it will sell. You can’t keep a good price a secret! Dirk Zeller is an Agent, an Investor, and the President and CEO of Real Estate Champions. Copyright© 2014, Dirk Zeller. All rights reserved.
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CHARDONNEE CUNNINGHAM Top Agent Chardonnee Cunningham of Chicago’s Baird & Warner takes her job very seriously, while still managing to inject a level of fun into the often highly-stressful and convoluted transaction process. With almost all of her business based on referrals from satisfied clients, she is clearly providing a level of service that is almost unparalleled in the industry. A graduate of Indiana University, Chardonnee initially found herself working at a string of professional gigs that she ultimately found unsatisfying, including paralegal, broadcasting and event planning work. “I wanted something that gave me a little more freedom to be around people and not just sitting behind a desk,” she explains. “I wanted to build relationships, so I started working at a rental agency and did really well with it right away.” Deciding she wanted to go further, she obtained her Broker’s license and for the past three-and-a-half years has been helping her clients buy and sell homes. Chardonnee points to her knowledge of the Chicago area as one reason her clients return for her services, or refer their friends and family to her. “I know Chicago really well,” she says, “because I’ve lived in many parts of the city. I know the ins and outs of each neighborhood, and I can share many personal experiences about them.” Another factor in Chardonnee’s success is that her previous career at the rental agency provided her with an immediate sphere of influence, and she has been able to cultivate many of her former renters and turn them into homeowners. “Much of my success is about following up with them, touching base, or
giving them a phone call, knowing that their lease is coming up. I’ll sit down with them and educate them about first-time home buyer products.” The fact that she works closely with a lender at Chase Bank to keep herself educated regarding these products gives her a cutting edge. “Half of the time these clients don’t even realize they can buy a house,” she says. “It’s been a good thing that I’m able to sit them down and get them prepared to buy, because half the time they don’t have a pre-approval and end up missing out on something great.” With a slew of five-star reviews on Zillow testifying to her prowess as an agent, Chardonnee is clearly doing something right. Among the many glowing testimonials is this particular rave that points to her expertise as a relocation expert: “As an out-of-towner from NY, Chardonnee took me on and provided spectacular service. She worked beautifully with my hectic schedule, and basically took me on an informative tour of the different Chicago neighborhoods to see listings, listened to all of my concerns and answered all of my questions, and ultimately steered me toward the place that best suited my situation. Char kept in excellent touch with me and was there for every inch of the process, all the way through the closing when I was handed the keys to my new place. Chardonnee is a gem, and highly recommended.” Regardless of her financial success, it’s the more personal side of the business that Chardonnee finds most rewarding. “I feel that I am my client’s trusted advisor and friend during the process,” she says, “which always makes for a mutually pleasant experience.” As for the future, Chardonnee’s plan is to simply continue doing what she’s doing: providing her clients with top-drawer service. She also plans on working more with other facets of the industry, including developers. “That’s my next goal,” she says.
For more information about Chardonnee Cunningham, call 847.528.9998 or email Chardonnee.Cunningham@bairdwarner.com Top Agent Magazine
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How to Throw a Client Appreciation Event No One Will Forget Clients are the foundation of any flourishing enterprise, and this is particularly true in real estate—an industry where relationships are central. Demonstrating your gratitude to former and current clientele is a winning way to cultivate your network, while upping your potential referrals and creating face-to-face time with the individuals that make your business tick. Keep in mind a few of the tips below as you stage a client event that will positively impact your brand, while conveying your appreciation to those who have driven your business all year. Top Agent Magazine
Supersize Your Guest List Inviting former clients to your client appreciation bash is only the first step in crafting your guest list. To really expand your sphere of influence, invite neighbors, local business owners and staff, old friends, family, associates, fellow alumni from your alma mater, and the like. Think of your client appreciation event as a celebration of business bringing people together. Expand your guest list and you’ll create a coveted, in-person opportunity to forge relationships and broaden your reach.
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An appreciation event may be geared toward your clients, but if done correctly it can also provide a fun-filled venue for your employees to enjoy a morale boost.
Consider A Sponsor Client appreciation events shouldn’t skimp on the details, but you don’t want to break the bank, either. To defray the cost of a client appreciation event, consider enlisting local businesses as co-sponsors. Not only does this approach ease the price tag of throwing a party, but it also creates an easy partnership between you and other entrepreneurs—widening your database and making for a memorable and generous event.
ship, or the Super Bowl is coming up quick, tailoring client appreciation events to already-established happenings can create an organic tie-in and boost your attendance numbers in the process. Throw a gingerbread house decorating party during the holiday season, or throw a barbeque during the Fourth of July. Capitalizing on a naturally occurring theme creates the opportunity for comradery between you and your guests. Apply A Personal Touch
Don’t Forget To Reward Your Employees An appreciation event may be geared toward your clients, but if done correctly it can also provide a fun-filled venue for your employees to enjoy a morale boost, as well. By encouraging your employees to cut loose at this celebratory event—instead of having them run interference all night—your team will feel appreciated and validated, too. Theme Your Event Whether the area’s high school sports team has made it to the state champion20
Invitations may seem like a small detail, but they shouldn’t be one-size-fits-all. Consider handwriting some of your invitations for the clients you remember well, or for business associates who you regularly partner with. Personalizing invitations to key players is the surest way to a confirmed RSVP. Cultivating your network of professional connections is an essential part of driving business, and client appreciation events not only create memories between you and your clientele, but also inspire your to step back, reflect, and give thanks to those who keep your business booming.
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ERIC PORTER When an apartment building across the street went on the market, Eric Porter decided to sign up for a real estate class to learn more about investing. He’d been interested in a career in law enforcement, but the discovery that he was colorblind set him on a new path. When a friend suggested he try his hand at real estate, Eric’s initial interest in the market came full circle. That was back in 1986, and thirty-one years later he’s carved out a reputation for client-centric service, unmatched market knowledge, and an abiding energy for his daily work. Today, Eric serves central Illinois alongside his business partner. Though he spent the first three decades of his career working solo, he decided to breathe new life into his enterprise by beginning a team last year. From their office in Champaign, The Eric W. Porter Team serves clients with a variety of homeownership goals. As a Senior Real Estate Specialist (SRES) Eric has a particular knack for guiding senior clientele as they begin their next chapter, selling the homes they raised their families in and moving on to a new property for their second act. Regardless of the type of transaction, Eric cites his ability to listen and communicate as some of the foremost drivers of his success to date. “I’m a big believer in the art of listening,” he explains. “Too many agents blow by the nuances of what someone is saying. Whether you’re working with a buyer or a seller, you’re stepping into someone’s life as an agent. Home is the place where people will celebrate holidays, birthdays, and many of life’s major milestones. I never forget that, and I’m always listening—doing my very best to deliver on their goals.” With 85% of his business driven by repeat and referral clientele, Eric has cultivated a compelling track record of success. Considering he’s earned more than three decades of experience, clients trust him for his wise counsel and responsible stewardship of their biggest investment. Beyond the insider insight he offers, Eric uniquely tailors his service to each client, helping them navigate the ins and outs of the transactional process with calm, confidence, and capableness.
“From the moment that we meet, throughout the transaction, and all the way to the closing table, I make sure we are engaged with what the client needs, is looking for, and what their plans and desires are,” he says. As for listings, Eric blends his years of experience with a tech-savvy approach to marketing. He ensures that targeted ads make it to the top of the leading digital listing platforms— where the vast majority of buyers begin their search. What’s more, he stays up-to-date with clientele past and potential by mailing Just Listed and Just Sold postcards and sending monthly e-newsletters. No matter how much time has passed since a purchase or sale, Eric maintains his bond with clients through client appreciation events, pumpkin giveaways in October, and simply connecting by phone when he’s passing by a familiar home. “What’s most important to me is the people,” he says. “I love being able to work with somebody who really needs the guidance and I’m able to help—that’s what most rewarding.” As a proud member of his community, Eric gives back both charitably and civically through area organizations. He is the President-Elect of the Champaign County Board of Realtors and currently serves as President of his condo association. He’s also involved in his church’s Missions Board, supporting church outreach around the globe. As for his rare free hours, Eric most enjoys getting away with loved ones to the family cottage in the North Woods of Wisconsin, chopping wood and enjoying the lakes. He also enjoys heading into Chicago alongside his wife for a weekend of cosmopolitan fun. Looking ahead, Eric shows no signs of slowing. His primary ambition is to continue serving his community, while building a team of likeminded talent. He hopes to use his thirty-one years of wisdom to guide other agents launching their careers. For now, he’ll continue aiding clients with his patented brand of enthusiasm and personalized care, bettering his Central Illinois community one homeowner at a time.
To learn more about Eric W. Porter visit bestchoicehomes.com, e-mail EricWPorter@remax.net, call 217-369-7773, or visit his Facebook https://www.facebook.com/EricPorterRealtor/ page here http://
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A Step-by-Step Guide to
Converting Internet Leads to Real Life Sales In the era of apps, instantaneous social platforms, and text messaging, it’s little surprise that the modern homebuyer begins his or her search for real estate representation online. Even if you’ve got a top-notch website or an influential social media presence, how do you connect with web surfers who have yet to commit to the services you offer? Take a look below to learn a few key techniques to bridge the gap between digital interest and real-world sales. 22
RESPONSIVENESS IS KEY Like it or not, our digital culture relishes immediacy and instant gratification. With that in mind, be sure to stay on top of online interest forms, e-mails, or newsletter signups. Don’t let an online lead go to waste by taking too long to engage and follow-up. Things move fast, and it’s easy for potential clientele to forget which websites they’ve visited. Even if your lead isn’t ready to commit then and there, you demonstrate your
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Mastering the fundamentals of digital communication is the first step to converting digital interest into concrete business. accessibility and attentiveness by following up swiftly—a characteristic anyone would seek in an agent or lender.
ENGAGE WITH OPEN-ENDED CONVERSATION When online back-and-forth goes stale, communication drops off quickly. If you’re following up via e-mail, social media, or text, be sure to keep topics focused squarely on the potential client. Ask open-ended questions to give your lead the opportunity to loosen up and engage on a personal level. There’s no better way to cement a digital lead than to take a pointed interest in the specifics of their situation. Doing so transforms the impersonal invisibility of the internet into a true connection.
GIVE ADDED VALUE Plenty of businesses send impersonal, automated messages in response to an online inquiry, but establishing a true connection may mean providing your lead with something of value. Perhaps you’re forwarding a property for sale that fits the interests of your lead, or a relevant article, or maybe you take the time to send a personal message—demonstrable value and a personal touch separate your follow-up response from spam. Other ideas to consider when Top Agent Magazine
adding value to your follow-up technique: incorporate area promotions and access to local events, make a date for coffee, or offer a brief consultation free of charge to make the first move.
DON’T STOP MAKING CONTACT If you don’t connect with your internet lead right off the bat—don’t be discouraged. It often takes multiple tries before a follow-up interaction sticks. Folks are busy and frequently flooded with e-mail blasts and junk mail. A lead may not engage without a little prodding that shows you’re committed to their business. Remember: it’s the squeaky wheel that gets the grease. Digital leads don’t have to be difficult to capture. The internet plays a powerful role in funneling modern clientele your way, but in order to take full advantage of the web’s reach, you’ll need to tailor your follow-up technique. Mastering the fundamentals of digital communication is the first step to converting digital interest into concrete business. Keep these tips top-of-mind as you build your online presence and mine the vast world wide web for an endless wealth of clientele. Earning a command of digital lead conversion is the surest way to bolster your business in the ever-evolving digital era.
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