Maryland 2-19-17

MARYLAND EDITION

BEWARE THE SNIOP! 5 TIPS TO GET NEW CLIENTS TIPS ON BEING A GOOD TEAM LEADER COVER STORY

THE CARDANY GROUP

DEVELOPING YOUR PRICING PHILOSOPHY

MARYLAND EDITION

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THETHE CARDANY GROUP CARDANY GROUP

CONTENTS 4) 5 TIPS TO GET

18) BEWARE THE

13) DEVELOPING

22) TIPS ON BEING

NEW CLIENTS

YOUR PRICING PHILOSOPHY

SNIOP!

A GOOD TEAM LEADER

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5 Tips to Get New Clients 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 4

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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THE CARDANY GROUP Top Agent Magazine

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THE CARDANY GROUP “I have known Al and Mary Cardany and their family for 29 plus years, and know them to have exceptionally high standards and diligence in everything they do.

I know they will do no less for you!”

—Cynthia Hines, Rockville, MD With a combined 25 years’ experience, Al and Mary Cardany have built a thriving real estate business through RE/MAX Town Center in Montgomery County, MD, just outside Washington, D.C. It’s a field they couldn’t be happier to have found in 2002, when Al made a complete career change and Mary soon followed suit. Over the years, they built a business grounded in integrity, honesty and professionalism. “We are diligent about educating ourselves so we can provide the best skillset,” says Al. Mary says she personally enjoys the marketing and interpersonal aspects of real estate. “I love meeting and being with people and have a tendency to go the extra mile. Right now, for instance, I have a client who’s having a hard time packing, so I go 8Copyright Top Agent Magazine

over every day to help her,” she says. “We don’t hesitate to do many things most agents wouldn’t consider.”

For listings, they put special care into marketing, emphasizing professional photography and other visual options. “We choose from different photographers depending on the options we think are appropriate for the property, whether it’s aerial photography, tours or floor plans,” says Al. Because each listing must grab the viewer’s attention within a few seconds, quality is a top priority. They do everything possible to put each listing’s best attributes at the forefront to attract many showings as quickly as possible, including high-quality open houses with clients’ permission.

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“Clients can call us any time,” says Mary, explaining that now that their three children are grown with families of their own, she and Al make real estate an integral part of their lives. People have come to appreciate their dedication to helping them through their real estate transactions. “They end up feeling like no one else would have gone to the lengths we do to make transactions smooth and stress-free,” says Al. “We want clients for life who know we’re thinking of them long after closing,” adds Mary. To that end, they throw client appreciation parties and send gift cards Top Agent Magazine

in birthday cards each year, among other acts of generosity to remind people that they care. “Ninety-nine percent of the time, clients become our friends!”

In fact, many clients are already their friends.

Working real estate in Montgomery County is an honor for the Cardanys, who were both raised there. “We’ve seen many changes over the years, but we have a large network of people we run into regularly, which helps our business,” says Al. They have a great time visiting with people and they genuinely care about helping others. “We’re Copyright Top Agent Magazine9

“If it were not for Al and Mary’s knowledge of the current market, presentation of our home, and continuous attention to details, we feel we would not have sold our home.”

—Terry and Carole Michnya, Mt. Airy, MD

very patient and deliberate,” Al says, adding that they plan soon to begin increasing their focus on their referral business, gradually transitioning away from farming new areas. “We don’t really see ourselves retiring, though!” The proof lies in the fact that Al is also the branch manager for RE/MAX Town Center, a role he plans to hold for several more years.

More proof of their joy in helping others is evident in the ways they give back both time and treasure.

“With every transaction we make a donation to Children’s Hospital in D.C.,” says Mary. “Also, one of our Copyright Top Agent Magazine 10

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“It was indeed a pleasure to work with you both on the sale of our home. Your marketing skills on the property were superb, especially in this challenging market. Your advice and guidance were critical every step of the way throughout the process from listing to settlement. We could not have had better counsel!”

—Roger and Diane Cavanaugh, Rockville, MD grandchildren has a neuromuscular disorder called Friedreich’s ataxia, so we donate to that cause in our clients’ names.” Among other activities, they attend school fundraising events and sponsor community yard sales, providing advertising, signage, and bringing donuts to participating families. Meanwhile, Mary is joining a group to become a “cuddler” at a local hospital, where she will hold and Top Agent Magazine

comfort newborns. “I think I should start that sooner rather than later!” says Mary, who is nurturing by nature. Finally, when not helping people with real estate or spending time with their three children and six grandchildren, the Cardanys enjoy fixing up the home they recently purchased by the shore. “We hope to spend time down there when possible and have family and friends share it with us,” says Al. Copyright Top Agent Magazine 11

To learn more about AL & MARY CARDANY, visit CardanyGroup.com, email info@CardanyGroup.com or call 240.832.0401 (Al) or 240.676.8420 (Mary) www.

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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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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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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.

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Beware the SNIOP!

by Barry Eisen

Daily, Greg was growing more like I said, unfriendly, rude, eh! And excited about his upcoming, first did you see the Pope? Ha—I’ll bet all you could get was his postcard.” trip to Rome.

Finishing up all the last minute Brimming with enthusiasm, Greg details, with just two days to his offered “Al, It was the best flight ever. flight, Greg headed to his barber, Al, Everyone was so accommodating. I was treated like family, and the people for a haircut. with whom I stayed showed me the Sharing his excitement with Al about sights as if I were royalty. Oh, and the upcoming trip, Greg bubbled when I got to the Vatican, not only did about staying with local people, I meet with the Pope, I had a private eating homemade, Italian food and audience. It was awesome and I’m so even having an audience with the grateful!”

Pope. Al put down his scissors and started droning, “You know traveling Al, astounded to hear all this, asked is so hard these days, such a long “What did the Pope say to a nobody boring plane ride. Rome, of all places! like you?” “Well,” Greg replied, “as It’s hard to get around. They drive I bent forward to kiss his Holiness’ like crazy, the people are rude and the ring, he wanted to know one thing... streets…disgusting! The Pope? Ha! and asked me, ‘Who gave you such You’ll never get close to him.” Greg, a lousy haircut?’’ feeling a little deflated, left the shop.

SNIOP After his trip, Greg popped into the barber shop. Al started digging in SNIOP is an acronym for a person immediately, “Well, didn’t I tell you who is: Susceptible to the Negative about the terrible flight? The people, Influences of Other People.

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Greg didn’t play that role in the anecdote above, but do you? More importantly, are you willing to discover the subtleties of when you are? And most significantly, if you are, are you willing to take back responsibility for directing your own play, hearing your own song, standing up for your own dreams, living your own best life?

Being a SNIOP is not about being just influenced by others. We are and we ought to be. We don’t live in a vacuum and the fastest way to create Top Agent Magazine

success is to copy it. That means we want to not only allow influence, but to encourage ourselves to be impacted by the thinking and actions of those coaches, mentors and success models who’ve held high the bar of personal and professional excellence.

The goal is to not be influenced by the negative and the limited. It’s about: 1. Bringing conscious choice as to whom we invite to impact us, and 2. Seeking direction and guidance from the best vs seeking approval and opinion of the many (or the “Any”).

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Ask yourself in what ways your world view is colored and shaped by those around you? In what ways— dig deep here, look for the subtle, do you allow yourself to be impacted by the leaders who can advance you or the negative opinions of others that can limit you?

• Do you use your inner voice with an “I know that,” to stop you from hearing those who have messages that can advance you?

• Do you seek approval by others when the authority should be your own inner voice?

The best way to predict the future is to create it. We create it by intentional focus on our consciously chosen VISION. I’ll bet you’ll agree that driving forward while only looking in the rear view mirror is a recipe for disaster. It’s no different whether we are in the driver’s seat of our car or the driver’s seat of our daily attitudes.

We GO where we LOOK, so we want to guard where we look. Why put on the glasses of those who look to their world with negative attitudes and limited expectations, when we can immediately and consistently commit to playing with those going our way?

Who are the people with whom you surround yourself? Who are your 20

coaches, teachers, friends, religious leaders, mentors, trainers and business associates? What do you choose to read, watch on TV, browse on the internet, and attend for entertainment? Who you watch and read are the pals with whom you’re hanging. Are you listening to: • Gossips on how to have good relationships?

• The impoverished on how to make money or to invest it?

• Couch potatoes on how to be healthy?

• The mean-spirited about loving?

• Failing students on how to study and succeed?

There is an alternative and it’s a shortcut to success: 10 Points to CREATE Your BEST (and avoid being a SNIOP) 1. Surround yourself with successful supportive people in the arena of each goal. Listen well to those who listen well and hear constructive criticism.

2. Choose goals that make you stretch and grow in positive directions.

3. Model yourself in the mental, physical and emotional habits of those who are positive and successful.

• Eat well, exercise with consistency.

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It’s all rehearsal for the life you live, by choice. You become what you think about.

• Make time to relax and focus on positive thoughts and solutions.

• Prioritize the highest good and long term payoff.

• Share more smiles and laughs.

4. Put your goals on paper and review them daily.

5. Commit yourself to do what’s right, not what’s easy.

6. Value friendships with those who have good to say about others and value friendships.

7. Read worthwhile literature by people who have excelled where you want to go.

8. Develop a wealth mentality. It’s one thing to be broke, it’s quite another to be poor. With a wealthy mentality and no money in the bank, a person is broke but not poor for the riches of possibility and the willingness to do the work to create the change.

9. Be open to the inspiration of others. Better yet, be an inspiration to others. Don’t only avoid those SNIOPS, don’t be one.

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10. Make time daily to be still and reflect on your day. Celebrate those places where you fulfilled these steps.

Celebrate your awareness of the moments when you didn’t. Re-create the negative moments when you either rained on others’ dreams or when you were a SNIOP. Imagine those scenes as if you behaved the way you’d consciously choose. Then Replay those the new way in your mind’s eye.

It’s all rehearsal for the life you live, by choice. You become what you think about.

Thank you for investing this time with me. And thank you for passing this to others who may benefit.

Barry Eisen teaches personal development seminars and coaches Southern California top producing REALTORS®. “Your business will never grow more than you do” is the theme; self hypnosis and behavior modification are the tools for playing a bigger game. barryeisen.com, barryeisen@LA.twcbc.com 818-769-4300 21

Tips on Being a Good Team Leader Your business is booming, so much in fact, that you’ve finally made the decision to start a team. You’ve made sure it’s financially feasible, and you’ve found the right people, but there is still one other component of a successful team. And that’s an effective leader. It’s your job to not only generate business, but to motivate your team, which in turn increase productivity. Here are a few simple tips on being a good team leader.

1. Evaluate each team member, making sure to utilize their strengths Hiring the right people is one of the first steps in creating a successful team, but once you have those people it’s really 22

important to figure out where they best fit into the operation. Having every team member be an ‘expert’ in their part of the process leads to seamless transactions and a business that runs like a well-oiled machine.

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Of course it’s also important to create a supportive atmosphere that allows team members to stretch beyond their comfort zones, under your guidance. It’s to the whole team’s advantage when people take initiatives to up their game by taking additional training or mastering a new and innovative technology that can improve productivity. The key is to constantly evaluate not only your systems but the people running them. It’s your job as a leader to encourage that personal growth while making sure to always protect against any major misfires. Which leads us to…

2. Always reevaluate what is and isn’t working It’s a good idea to have a weekly meeting where the whole team can convene and go over any snags they may have hit in the systems that you developed when starting your team. Your team is in the trenches with you and since everyone probably focuses on a different aspect of the transaction, it’s important to make sure things are working on every level. Make sure copious notes are taken during these meetings so you have a track record of what was suggested, as well as a history of things that may have been tried and the results.

Another good thing to focus on in these meetings is goal setting. Set weekly and monthly goals, and use the meetings to discuss what’s being done or needs to be done to meet them. When goals are met, it’s a great bonding experience for everyone. When they aren’t, it’s a moment to learn how you can do better in the future.

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Don’t forget to always take in what you can do to be a better team leader as well.

3. Stay connected and in communication These are your team members! There’s more to that than just a label. Be connected to them on a daily basis. Clear, open and honest communication is important on a busy team and that’s much easier if you actually like and trust your co-workers.

Sure you want to succeed for yourself, but knowing that other people you respect are counting on you, is an additional motivating factor, that is certain to lead to everyone going above and beyond creating a wildly successful business.

4. Be inspiring and supportive If you’re enthusiastic about what you’re doing, it really will be infectious. Encourage innovation and creativity. Yes, systems and consistency are great but don’t let your team get in a rut either.

Support their individual careers, always encourage them to go for more, let them rely on you for mentorship. If they sense that you want each member to succeed as much as you have, you won’t find more loyal employees. And perhaps most importantly focus on what’s being done right. Don’t be the boss that just points out things they don’t like. Let them know when they’ve done an amazing job and be specific about what it is. Make them feel valued and they will become a valuable asset to you and your business.

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