MARYLAND 1-9-23

MARYLAND EDITION

TURN OPEN HOUSES INTO DESTINATIONS

5 Ways to

TRANSFORM RENTERS INTO OWNERS

EMOTIONAL FLUENCY:

How to Answer the Inevitable Question:

HOW TO COMMUNICATE WITH CLIENTS WHEN TENSIONS ARE HIGH

WHY SHOULD I CHOOSE YOU?

FEATURED AGENT

ANGELA SIMONELLI

COVER STORY

MYRA WALLACE-McCLOUD

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How to Answer the Inevitable Question:

Why Should I Choose You? In some markets, a real estate agent is competing against thousands of other individuals and teams. There are only so many bells and whistles—so many buzz words you can throw at prospective clients. To a buyer or seller who has interviewed several other agents already, all of it begins to blend together and every realtor sounds as though they’re reading off the same script.

Your clients want to know why they should choose you. They want to know what makes you different. It’s highly likely they’ll even 4

ask you this question directly in your initial interview, but as an agent, you might have a hard time coming up with a response that either you or your clients are truly satisfied with.

To answer your client’s why you must go back to your own why.

WHAT SKILLS DO YOU HAVE THAT OTHERS DON’T? Just because there are other agents in your area doesn’t mean those agents have the

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same skills that you do. We each bring our own backgrounds and experiences to the table. What comes naturally to you? Maybe it’s your negotiating skills or your ability to connect people that sets you apart from the rest.

WHAT PART OF THE BUSINESS DO YOU ENJOY THE MOST? There are skills and then there are passions.

In real estate, there’s so much to enjoy.

There’s the opportunity to match a family with the right home and the sense of safety and comfort that brings their loved ones.

There’s the ability to give someone a sense of financial security by advocating and negotiating on their behalf. And then there’s the houses and neighborhoods themselves— the architecture, history, and community.

WHAT ARE YOUR ACCOMPLISHMENTS? When you look at your client list and the portfolio of work that you’ve built over the years, what are you most proud of? Sure, there are financial rewards, but there are also other accomplishments that your prospective clients will likely be eager to hear about, such as happy client testimonials, a thriving referral business, volunteer and charity work, or even how you lift and support your own team.

Everyone needs money, but those other accomplishments and how you speak about them show your client what kind of person Top Agent Magazine

you are and if that’s the type of person they want to work with.

WHAT ARE YOUR INTERESTS? Real estate might seem like your entire world at times, but you also have a life outside of work. Maybe you like music or traveling or being outdoors. The best part about being a realtor is that there are often ways you can thread these interests into your work, like hosting client functions and events.

WHAT DOES YOUR CLIENT CARE ABOUT THE MOST? Let’s face it, your clients likely care the most about only a few things: saving or making the most money, doing it as soon as possible, and making sure that doing so isn’t too stressful. Your response to your client’s question—why should I choose you?— should address these concerns.

Maybe you excel at creating systems that make the selling process efficient and profitable for your client. Or maybe you excel at providing a personalized experience for homebuyers.

Try out a few responses. You might even start with a template: My [skills or passions] helps me [provide this service] because I can [achieve my client’s goal].

Like most things in life, coming up with a compelling and concise response for why clients should hire you will take time and practice.

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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 6

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 Top Agent Magazine

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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MYRA WALLACE-McCLOUD

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Washington DC

Having been in this industry since 1994, Top Agent Myra Wallace-McCloud serves Maryland and Washington, D.C., and has plans to start her own team in the near future.

If there’s one thing Myra Wallace-McCloud is certain about, it’s that her life purpose is to help others. “I’ve just been so blessed,” she explains.

“I will continue helping people for as long as I can.” This determination was apparent from a younger age, when Myra was working as a retail sales manager and captured the attention of a local broker. “I went into a real estate office to get a document notarized, and as I was talking to the owner, he noticed my personality 10 Copyright Top Agent Magazine

and said I would be a great fit for the office management position they had open.” After talking to him and his wife, Myra was offered the job. Knowing she could reach tremendous heights in this path, she seized the opportunity, and started two days later. “The rest is history,” she says. Myra learned as much as she could in her first few years. She had a strong Mentor, the late Brandy Britto, and other knowledgeable Realtors® surrounding her, so eventually she Top Agent Magazine

earned her license and went out on her own as a Realtor® in 1998.

Myra always inspired to become an entrepreneur someday. Either opening a wedding retail shop, or a liquor store. Never in a million years, did she think she’d stumble into the Real Estate industry, but you can’t predict where or when you’ll discover what you are meant to do in life. Myra was taught at an early age, that if you really want something bad enough in life, you have to work for it. So that is what she did.

And worked very hard! It wasn’t always a bed of roses. She overcame any challenge set in her path, including an incident that tested her as a rookie agent. Myra remembers, starting out, a time when she borrowed her Mom’s car to do her real estate business, and accidentally

set the car on fire, following another previous incident with again a borrowed family car rolling down the hill on a new home construction site, damaging it beyond repair. That didn’t stop her. She was the top sales agent of the month, in her office that year, without a car, but having plenty of good customers willing to drive her around. Needless to say, her Broker made her the agent in the spotlight at the monthly business meeting, to be an inspiration to the other rookie agents, like herself. She has received numerous awards in her career from her Brokerages, and the Board of Realtors for her top performances.

She is a member of the National Association of Realtors and the Maryland Association of Realtors. Her business today is 98% referral based, and repeat business.

Beautiful acres of Suburban Farmland

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Relationships are the center of Myra’s business, as she works diligently to form lasting connections with her clients.

“My slogan is, ‘I won’t pressure you,’ I let them make their own choices. My job is to support and educate them along the way.”

Serving Maryland and Washington, D.C., Myra plans to start her own team in the near future.

Having been in this industry since 1994, she has a wealth of knowledge to share. “I would love to give that knowledge back to other Realtors® who are just starting out,” she says. “I want to instill in them the importance of integrity and the principles of customer service.” Throughout Myra’s career, both in retail and in real estate, Copyright Top Agent Magazine 12

she has been focused on providing an exceptional experience to everyone she serves.

Relationships are the center of her business, as she works diligently to form lasting connections with her clients. “I have compassion for people,” she says. “I become like a counselor in some cases. Because in order to understand what their goals are, you have to get to know them and their individual situations.” Myra’s Top Agent Magazine

priority is making them happy, and this includes letting them take their time when it comes to decisions. “My slogan in which I created at the end of 1997 is, ‘I won’t pressure you,’ I let them make their own choices. My job is to support and educate them along the way.”

When it comes to her Sellers, Myra has plenty of marketing tools and strategies that spread the word about listings. Currently she is setting up an advanced system to give each property it’s own website. At present they are automatically being placed on various websites. She reaches out to her vast network of past and current clients. Whether she’s assisting a Seller, Buyer, or Renter, Myra goes above and beyond to exceed their expectations. This holds true even after the transaction, she is still available to answer questions or concerns, and is able to point her past clients to other resources, if needed.

During her free time, Myra likes to relax with family and friends. Myra was born in Calvert County, Maryland, in a very loving family of ten children. She is the ninth born. As a child, Myra’s family supported her ambitions of being a success, at whatever she chose to participate in. Whether gymnastics, singing, or being a track star. She excelled at all these things, winning a gold medal, all around, at her very first gymnastic competition, a member of the Royal T’s gymnastic club, at the age of nine. She also was awarded best all-around gymnast in Calvert County at age eight. She was recorded on a phonograph record (vinyl) at age eight, always soloing for her Glee Club.

She was inducted in the Athletics Hall of Fame, at her high school, Calvert High, holding a state record in long jump, she set at the age of fifteen, that still stands today. All this while continuing to ace her Academic studies. “I still

Chesapeake Bay Waterfront

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Oyster Bay Community, Annapolis, MD

do a lot of reading, as I love to educate myself,” she says. Planning for the future is an important part of her day as well, especially as she is careful in her search to develop a dynamic team.

“I will add one new member at a time,” she says.

“I want to find people who are motivated to help

others.” After a near death experience in 2014, Myra was reminded of life’s importance, and was inspired to continue on her current journey in real estate. “I think about all the people I’ve helped since then, and I just feel so happy that I survived and could make a difference in their lives.”

For more information about Myra Wallace-McCloud, call direct 240-398-6409 or email myrarealest@msn.com Samson Properties 301-850-0522 office.

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Emotional Fluency:

How to Communicate with Clients When Tensions are High Managing emotions, expectations, and personalities are central to a successful real estate career. After all, this is a business based on relationships and interpersonal communication. Likewise, real estate is built on one of life’s central milestones—homeownership. This means that stress, disappointment, excitement, and competition are inherently Top Agent Magazine

involved in the process. As an agent, you take on the real estate world every day, but most of your clients aren’t well-versed in the norms of the industry and are likely riding an emotional roller coaster throughout.

Acknowledging this, how do you steer the ship when emotions and tensions are running high?

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For starters, it’s not always intuitive. Just like you add tools to your arsenal when it comes to marketing, social media, or lead generation, you also have to add emotional tools to your repertoire. Here are a few ways to diffuse tense situations and keep clients on an even keel—even during the ups and downs of the transactional process.

Create realistic expectations from the outset and reinforce them as you go As a seasoned agent, some aspects of the industry may seem run of the mill to you, but may come as a shock to your clients. That’s

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why communicating expectations from the beginning can help create reasonable touchpoints in the minds of your clients. In addition to talking through the steps of the transactional process with your clients, consider writing out a checklist or compiling a buyer’s guide that can serve as a resource for them throughout. Think of it like a security blanket, but one that’s built by facts, figures, and anecdotal experience. If you paint a clear picture of what to expect, clients are less likely to be taken by the surprise and react impulsively as a result. What’s more, reinforce next steps, expectations, and possible outcomes as you go. If your client is left to wonder or guess at what’s ahead or

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what will happen, they will either envision the worst-case scenario and panic, or they’ll misjudge the next step and be disappointed or left anxious as a result. Minimize surprises by communicating regularly, clearly, and with all options on the table.

When unveiling a problem, come to clients with potential solutions in hand Any agent worth his or her salt knows that bumps in the road are likely to occur along the way. You can’t promise a transaction free of stress or unforeseen issues, but you can minimize the ensuing stress by preparing you client in advance for any potential problems, and by addressing any problems

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clearly and with solutions already in hand.

Clients are likely to become agitated if a problem arises and they can’t understand why or what it means. That’s why slowing it down, talking it through, and offering potential avenues for recourse can quell fears and remind clients why they chose you to facilitate the transactional process. This means you’ll have to vigilant, proactive, and on the ball. Of course, it’s much easier to be an agent when everything is going great and flowing naturally. It’s when things take an unexpected or negative turn that true talent is really tested. Accordingly, show your clients that you are confident and in control by remaining adaptable, communicative, and clear in your problem-solving approach.

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Never underestimate the power of listening As an agent, you are probably well-versed in putting out fires and sourcing solutions. Sometimes, however, clients are really looking to you as a confidante and a listening ear. You’d be surprised how much nervousness you can resolve by simply offering a listening ear and offering reassurance. Sometimes it’s not about providing a band-aid or a practical solution; oftentimes, it’s all about listening. Clients need to feel like they’re being heard, even if you’ve heard it all before. By listening to their fears, acknowledging their perspective, and reiterating their goals—you display your empathy and understanding, which is often just what a client 18

needs to feel better. In other words, you don’t have to break out the graphs and data each time a client airs his or her insecurity. First, slow down, listen, and interact on a personal level. You may stop an emotional upheaval in its tracks simply by putting your listening cap on.

Not all clients are alike. Some will require a little more hand-holding than others, but it’s your job to put yourself in their perspective, recognize the milestone at hand, and managing the personalities you’re working with. The next time you feel frustrated by a client’s unpredictable emotional energy, keep these insights in mind as you diffuse the situation, steer them to a place of comfort, and fortify your interpersonal skillset in the process.

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ANGELA SIMONELLI

You might have seen her on CNN, CBS, or the local news. Before real estate, Angela Simonelli pursued a successful career as a local TV news reporter and weekend anchor. She went by her maiden name: Angela Pellerano.

“I realized that a lot of the skills I used as a reporter, I could use in real estate,” Angela recalls. During her 16-year career as a broadcast journalist, Angela honed a set of skills that have served her well as a real estate agent. It’s a role that took her across the country from Miami to Minneapolis to Richmond and North Carolina. “I’m a good listener. I understand what it’s like to relocate. I value building lasting relationships and always answering the phone!” she says. Angela exudes positive energy, a trait difficult to miss when you meet her. Her unique skills and knack for communicating information have made her a natural fit for real estate, and her many testimonials from grateful clients endorse her skills.

#1 brokerage in sales volume in the U.S., and Fortune 500 company, Compass behind her, Angela has hit the ground running. “I had a great first year,” she says. “I generated more than $5 million in sales, unheard of for a first-year agent! I’m very proud of that.” Currently, Angela has two private exclusive listings, each in the millions of dollars.

Angela’s referral business is vital, mainly thanks to her network at Compass and its one-of-a-kind technology platform. “I was working for a boutique

Angela serves Talbot, Dorchester, and Queen Anne’s counties in Maryland, including towns such as St. Michaels, Easton, Oxford, Kent Island, and Cambridge. With the power of the 20

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brokerage when I first started, and now that I’ve moved to Compass, I’m getting referral business from agents in different parts of the country,” Angela says. In fact, around the country, Compass agents average one home sale or lease a minute.

Whether her client is buying or selling a home, she believes in giving her clients facts about the current market. “Numbers don’t lie. As a real estate expert, setting realistic expectations is important.”

Another trait that helps Angela stand out is her fluency in Spanish. “Not only do I know the language, but I know the culture,” Angela explains.

“People are so glad to meet somebody who understands them and shares their culture. That has helped me greatly and led to referral business in the international community.”

Angela is a member of the Mid-Shore Board of REALTORS®, serving on the Government Affairs Committee. She also belongs to the Ambassadors Committee for the Talbot County Chamber of Commerce and is very active with the local Catholic church. Community is so essential, Angela says. “I think it’s important to be a part of it.”

Looking toward the future, Angela says, “I plan to continue to grow and nurture my prospective clients and to meet more people in the community that I can help buy or sell a house. With Compass, a technology-driven brokerage, I can provide my clients cutting-edge data-driven market insights and digital tools that improve their home search or sale.” Above all, Angela looks forward to continuing to make a difference in her clients’ lives. “The best part of my job is negotiating on behalf of my clients and the excitement I have when they’re enthusiastic about a house they’re going to buy.

I’ll go into a house with them, and I’ll say, ‘Yes!’ Agents don’t usually tell the client how they feel about a house, but if I truly believe that this house is a good fit for them, and they like it too, and we’re both excited, that’s a great feeling. I have the same enthusiasm and honesty when visiting potential sellers in their homes.” Angela lives in Tilghman Island, Maryland, with her husband, Rich, and her dog, Angel.

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To find out more about Angela Simonelli, please call 410-200-0414, email Angela.Simonelli@Compass.com, or visit AngelaSimonelli.com www.

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Turn Open Houses into Destinations People are busy. Even those who are actively looking to buy a house or want to learn about the market for a future purpose have busy schedules.

But with bit of added time, creativity and investment in making open house into destinations, you’ll see greater turnout. And we all know that greater turnout increases the likelihood of offers.

There are several creative ways to hold an open house with a mindset of hospitality and with the goal of providing something of value to each person who attends.

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The neighbors-only open house Some agents embrace the “nosy neighbor” concept as a benefit, not an eye-rolling challenge.

With his client’s permission, Wesley Peters, a Keller Williams broker in the Baltimore Metro Area, often gets the neighbors together before a home hits the market. “We invite other brokers, too, but we include as many neighbors as we can,” he says, explaining that he schedules these events for a Thursday or Friday evening, happy hour-style, rather than midday on a Sunday. They get a better turnout at 5:00 pm than

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midday on a weekend when the neighbors are busy with their lives. In a relaxed setting, conversations flow, neighbors can mingle and catch up, and the buzz begins before the home is listed.

In advance, prepare invitations and hand-deliver them to homes on the streets you and your client agree are best to include. The destination is the event; the value each attendee receives is the social interaction and the removal of any awkwardness over visiting their neighbor’s house.

Your client’s benefit is the buzz.

A turnkey block party any time of year Once a property is listed, some agents take on the role of party planners. Certain streets or neighborhoods, they find, are perfect for lowkey social occasions. In some place, such as neighborhoods with many young families, a bounce-house or games may even ramp up the fun factor. But the idea of a seemingly spontaneous block party during an open house can be easy to pull off, whether you’re serving lemonade and cookies or coffee and pastries. The chance to meet prospective neighbors turns the event into a destination for both buyers and the neighbors; the value comes in buyers’ ability to see how the neighbors interact. Your seller’s benefit is that the grapevine will be filled with happy stories about their home. Tips: By keeping basic supplies in storage, you’ll be ready for a pop-up block party any time. Promote this type of event with targeted social media marketing and fliers or postcards to communities within a short distance of your listing.

Invite other professionals It’s common mortgage lenders to attend open houses. But why not provide even more value to people who attend? Chances are, you have more than a handful of professional partners who welcome an opportunity to join you at your open house. Consider inviting an interior designer, a contractor, a gardener, even a gardener or a painter. Invite them to your broker’s open in advance or give them time to view the property Top Agent Magazine

before the open house begins. Then encourage them to stroll the property during the open house or to sit with you. When visitors ask about needs or concerns they may have about the house – such as loan questions, the cost of improvements or upgrades or even remodeling – you’ll be able to introduce them to an expert on the spot. For that matter, your invited pros don’t even necessarily have to be in home-related businesses!

Prospective buyers always want to know about the community when visiting open houses.

Consider inviting representatives of community

organizations, like youth sports group or owners of mom-and-pop retailers to help your visitors get a feel for the neighborhood or town. For this type of open-house, prepare a flyer or card with your community contacts on it so visitors can leave with resources as well as information.

Open house should be about the buzz. They’re about creating a conversation about your listing and making the home memorable to visitors. By giving people a unique experience they won’t forget, you’ll show your sellers how creative you are in meeting their needs.

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