MARYLAND 10-17-22

MARYLAND EDITION

5 TIPS TO GET NEW CLIENTS

BUYERS AND SELLERS:

UNDERSTANDING HOW HOME INSPECTIONS ARE NEGOTIATION TOOLS 3 EASY AT-HOME DIY PROJECTS

TO INCREASE PROPERTY VALUE

MY CRYSTAL BALL:

YOU CAN PREDICT YOU'LL BE SUCCESSFUL SELLING REAL ESTATE

COVER STORY

MYRA WALLACE-McCLOUD

MARYLAND EDITION

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MYRA WALLACE-McCLOUD

CONTENTS 4) 5 TIPS TO GET NEW CLIENTS 14) 3 EASY AT-HOME DIY PROJECTS TO INCREASE PROPERTY VALUE

19) MY CRYSTAL BALL: YOU CAN PREDICT YOU'LL BE SUCCESSFUL SELLING REAL ESTATE 22) BUYERS AND SELLERS: UNDERSTANDING HOW HOME INSPECTIONS ARE NEGOTIATION TOOLS

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5 Tips to Get New Clients

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If you’ve been in the industry for a while, you’ve probably built up a healthy percentage of repeat and referral business.

Although it can be tempting to just maintain those relationships rather than generating new business, there’s something to be said for staying on top of

your game by never resting on your laurels. Actively pursuing new clients is not only a way to generate more business, but depending on how you do it, it could even lead to a profitable new niche. Here are just a few ways to build up your new client base.

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Become a referral partner with industry peers

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Cold Call Expired and FSBO Listings

Everyone from mortgage lenders, to financial planners, to insurance agents, can be potentially lucrative referral partners for a Realtor®. You may already have great relationships with some that just need to be more formalized. But, you don’t just want to partner with anyone, make sure these are people you also feel completely comfortable referring your clients to - people who share your values and work ethic.

Another avenue to consider is divorce attorneys – yes, you heard that correctly. Helping people go through this difficult period actually requires a very specific skill set.

You need to be able to handle the legal aspects, as well as the emotional ones. There are numerous training courses you can take if you decide to take this route, which could end up being a lucrative and much-needed specialty.

This is a route a lot of agents take when they are just starting out, that usually leads to great success. You probably haven’t cold called since you started out, and this is a great skill to build up again.

It will not only sharpen your sales skills, but could generate a lot more business.

People with For Sale By Owners (FSBOs) and expired listings, are usually very motivated to sell. This is a great chance for you to really hone in on why they need to hire you. Do you offer innovative marketing plans? Access to a large sphere of influence? Expired listing clients are looking for ways to sell a property that seems impossible to move. With FSBOs, you need to show them how you can get them more money in their pocket, even

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with paying you a commission. Pursuing both will really engage your mind to think outside of the box, which will not only get you more business, but make you better at what you do.

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Partner up with a Relocation Company

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Become a Builder’s Realtor® of choice

This is another niche market that you can really capitalize on if you want to pursue a new specialty. But, it is a specialty, so getting educated on the process will help you generate the business you want. It’s a complicated area of real estate, you’ll often

times be helping to facilitate dual transactions, as you try and secure a property at the same time you are helping your relocation client sell their previous home. This specialty is becoming an in-demand skill in areas that have major corporate headquarters.

This can be a real score for any Realtor®.

The competition might be fierce to land a client like this, but there are numerous ways to make yourself stand out from the rest.

Gain certifications and become knowledgeable about the construction process. Be wellversed on what trendy materials, features, and finishes will add value to a property.

Get the builder on board with you by offering to take just a segment of the subdivision then wow them with your marketing skills.

Take on properties they haven’t been able to sell. You can even offer to throw an open

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Create a Website that Offers Real Value to Potential Clients

Perhaps the most useful way of getting contact information for people looking to sell is by adding a home valuation feature to your website. When people are first considering selling their home, finding out how much 6

house for them. This is another way to show them the level of service they can expect from you. These clients might be harder to land, but the payoff will be enormous.

it is worth is one of the first questions they want answered. By becoming a resource to potential clients (and current clients!), you just might be the first person that comes to mind when they’re actually looking to sell.

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MYRA WALLACE-McCLOUD

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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 8Copyright Top Agent Magazine

my personality 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 Top Agent Magazine

her, so eventually she 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

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set the car on fire, following another previous incident with again a bothered 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.

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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 10

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.

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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 do a lot of

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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 about Myra Wallace-McCloud, please call direct 240-398-6409 or email myrarealest@msn.com or myrarealestate@hotmail.com.

Samson Properties 301-850-0522 office.

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3 Easy At-Home DIY Projects to Increase Property Value Most homeowners have a lengthy list of chores and bit projects they intend to accomplish around the house. Oftentimes, those to-do items are completed piecemeal over a long stretch of time, or else sometimes not at all. However, when it comes time to prepare a home for market, all those tasks begin to pile-up and overwhelm. The 14

list of things to do before the photographer comes or the first open house is held might seem endless, but not if you tackle just a few things here and there as you go. These sorts of projects—easy, DIY, at-home tasks you can accomplish in a few hours or less, with tools you most likely have on hand— go a long way with marginal effort.

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Complete a quick rehab of closets and storage areas Many agents advise clients to declutter and depersonalize their spaces ahead of professional photography and home showings. The idea is to provide prospective buyers with a neutral palette. Not only does this allow them to imagine their own lives unfolding within those four walls, but it also helps make a home’s square footage stand out. One way to add visual space to your home without calling in the contractor is to declutter common storage areas and closets. When buyers can get a complete look at a closet’s capacity, or a pantry’s depth, or the garage’s full functional potential, they get a better sense of a home’s potential and thus, its value.

In that vein, consider decluttering and cleaning your high-traffic storage spaces: the garage, pantries, closets, attics, and basements. Besides, organizing and discarding unwanted items help you prep for a move anyway, while giving potential buyers a peak at how spacious your home really is.

Add easy curb appeal with a bit of sweat equity Sure, curb appeal can arrive in the form of a new mailbox, pathway lighting, or updated house numbers, but it can also come cheaper than that. Curb extends to the upkeep of your lawn, landscaping, and home’s façade, and there are plenty of ways Top Agent Magazine

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you can give these zones a refresh without spending anything but time. Keeping your front and back yard green and uniform adds a lux layer to exterior square footage.

Likewise, polishing the outside of your windows, trimming hedges, and sweeping the walkway can make a tidy and wellcared for first impression. There are other measures you can take too. Planting wildflower seeds in empty beds, or collecting some landscaping rocks to frame mulched areas can add a bit of character to your residence. Repainting the front door, ensuring trees are trimmed, and keeping back patios 16

neat and uncluttered also underscore a home at its finest, which is ripe for buyers to snatch up.

Transform tiled spaces into sparkling clean surfaces.

Bathrooms and kitchens are where sellers can stand to add plenty of value in the process of selling a home. While pricey renovations might be out of the question for some, there are still affordable and time-effective ways you can transform for these spaces for the better. Cleaning,

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bleaching, or redoing your tile grout—in either kitchens, bathrooms, or other tiled spaces—can give these high-trafficked areas a new lease on life. Ensuring windows, mirrors, stainless steel appliances and backsplashes are streak-free and polished also demonstrate to buyers that your home is well-cared for and practically move-in ready. Sometimes, the devil is in the details. You might consider relining drawers, changing out knobs and fixtures,

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or else decluttering cabinets and shelves for a fresher look.

No matter the challenges ahead as you prepare your home for sale, completing a few small tasks every weekend or so can put you miles ahead of the competition.

Without spending a dime, you can add serious value to your home’s bottom line, setting you up for success as you begin your own home-shopping adventure.

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My Crystal Ball:

You CAN Predict You’ll Be Successful Selling Real Estate ►Carla

Cross, CRB, MA

You can predict if you’ll be successful in real estate. It’s not what you think, either.

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Grab the best business start-up plan you can find and start the plan. Find someone to coach you to the plan.

What New Agents Expect From my survey of hundreds of agents under three months in the business, I found that more than 1/2 of them expected a sale the first month of the business.

What does that mean? When do they have to start looking for leads? That first week in the business! Yet, how many new agents start lead generating even in the first month? How long have you been in the business?

When did you start lead generating on purpose? Or, have you started? That’s why my book, Up and Running in 30 Days, now in its 6th edition, has you lead generating in week one. It’s your assurance plan you will get a sale fast and will stay in the business.

Expecting ‘Dumb Luck’ to Carry You to Success Inevitably, there is a new agent who has an Aunt Martha in his back pocket. That is, Aunt Martha wants to buy a home, and has told nephew Tommy she’ll wait until he gets his license to purchase from him. Ca-ching. Dumb luck. Tommy concludes that’s how the business goes. You just wait for someone to find you and 20

sell them a home. We know that’s not the norm, though.

Unfortunately, Tommy’s going to wait a long time for that next transaction! The ‘dumb luck’ approach to the business results in low results. Since the ‘dumb luck’ agent isn’t doing a business start-up plan, we have no way of predicting results, because we can’t measure businessproducing activities. We can only measure other ‘dumb luck’ agent incomes. That’s way too late to actively coach–or to terminate with purpose.

Your Manager Could be a ‘Dumb Luck’ Manager– Pardon the Expression…

Dumb luck managers just look at results; sales and listings sold. So, they are not aware that agents may be failing for months. If new agents expect to make a sale in month one, how many months do you think it takes for them to get dis enheartened? 2-3? Not long. So, once new agents are mentally and emotionally out of the business, they will resist any help from managers. They’ve decided they can’t make it in the business. They’ll stay awhile, though, for ‘dumb luck’ transactions.

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Are You Lead Generating on Purpose?

Are you working a specific, prioritized lead generating plan? Is it made up of prioritized lead generating activities? Does it have ratios of activities to results, so the new agent knows whether he is on track to his goals?

Here are my activity ratios from Up and Running that will result in 8-12 transactions the first year in the business: • 20 contacts to get one buyer or seller lead • 8 times of putting people in the car to sell someone a home • 3 listing appointments to gain one marketable listing

• 80% of listings sell • 80% of transactions close What are the ratios in your office? Do you know? Do you know the work it takes to consistently generate the income you want to generate? Or, are you counting on ‘dumb luck’?

Best Advice to Create your Assurance Plan Grab the best business start-up plan you can find and start the plan. Find someone to coach you to the plan. Analyze your numbers frequently. You’ll stay on track AND assure your success.

https://carla-cross.com In the real estate business for over 3 decades, Carla Cross is an international speaker, trainer, and coach for real estate. She specializes in career development, business planning, leadership, and instructor development.

She’s won numerous sales and leadership awards in each area, including being named as a National Realtor Educator of the Year. A popular international speaker, Carla has spoken on leadership and training topics for 16 years at national Realtor conventions.

Author of eight books on real estate sales, her wildly popular book, Up and Running in 30 Days, is used by hundreds of thousands of new agents internationally to start their careers right.

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Buyers and Sellers: Understanding How Home Inspections are Negotiation Tools That stunning home or vacation property may seem perfect. But Top Agents advise anyone buying or selling to prioritize the importance of professional home inspections.

For sellers, many agents recommend preparing for two separate inspections, one for your own information before listing and the second at the buyer’s obligation. For buyers, know that the listing agent is required to disclose certain major issues discovered on professional inspection. But every buyer should also order a thorough home inspection. For both buyers and sellers, inspection provides knowledge and knowledge may translate to power, time saved or money.

THE SELLER’S INSPECTION You’ll save time before closing if you find potential “sticking points” before listing your home. Even those repairs that a seller isn’t required to fix may be worth the upfront investment. Replacing or repairing leaky faucets, wornbut-not-compromised sections of roofing or cosmetic masonry work will go a long way to build trust between you and buyers in your market. In addition, the last thing a seller wants right before closing is a major surprise.

If your inspection uncovers a significant issue requiring disclosure, you’ll have an opportunity either to make repairs or to get professional estimates on cost, which you then can present to buyers either as a credit or reduction in sale price.

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THE BUYER’S INSPECTION Selecting your Inspector: Before hiring an inspector, your agent may ask if the seller conducted an inspection and who conducted it. With this knowledge, you’ll hire a different inspector. Consider some important factors when choosing your home inspector: First, remember the adage that “you get what you pay for.” This property is one of your biggest investments it’s the place you’re going to cherish as your home or vacation destination for years to come. Entrust it to a highly rated and properly licensed inspector with the appropriate professional affiliations and credentials. Your Top Agent is your best referral source, but read online reviews or ask for recommendations to learn more about inspectors and the inspection process.

As a buyer, know that a home inspection report gives you opportunities to request repairs, a lower sale price or credit for work to be done. Talk to your agent about how to make the most of your inspection report. Your agent will likely have contacts with local professionals you can consult with for fair estimates on the cost of the repairs you would like made. In extremely competitive markets however, your negotiating power may be limited to major issues requiring disclosure. Heed the advice of your agent in making necessary requests without risk of losing your dream home.

Be sure to attend the inspection or assign a proxy if you’re out of the area.

Then, go above and beyond and give a luxury property the attention it deserves. Your inspector should help you find concealed issues that can help you negotiate. Honest oversights on the part of the seller, for instance can only be rectified if discovered before closing. For example, clogged exterior drainage inadvertently concealed by hardscape may become a flooding issue down the road. On the flip side, recent partial-room painting may indicate something more than the seller’s beautification efforts.

HOW SERIOUS IS IT? Remember that a home inspection is one of the most useful items in the buyer’s toolkit, but be careful not to get overwhelmed by the results.

Prioritize issues by immediacy (safety) and break down each category by cost to repair to determine how the issues may impact negotiations.

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