MINNESOTA 12-4-23

MINNESOTA EDITION

MILLENNIAL BUYERS:

24-HOUR TOUCH-UPS

Where They Are & What to Know

6

THINGS ALL SUCCESSFUL NEGOTIATORS DO

to Maximize Your Price List

COOPERATION, NOT COMPETITION,

CREATES MUTUAL SUCCESS FOR AGENTS

COVER STORY

RAUL SANCHEZ

MINNESOTA EDITION

9

RAUL SANCHEZ

CONTENTS

RAUL SANCHEZ 4) 6 THINGS ALL SUCCESSFUL NEGOTIATORS DO 6) COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS

15) MILLENNIAL BUYERS: WHERE THEY ARE & WHAT TO KNOW 20) 24-HOUR TOUCH-UPS TO MAXIMIZE YOUR LIST PRICE

Phone 310-734-1440 | Fax 310-734-1440 mag@topagentmagazine.com | www.topagentmagazine.com No portion of this issue may be reproduced in any manner whatsoever without prior consent of the publisher. Top Agent Magazine is published by Feature Publications GA, Inc. Although precautions are taken to ensure the accuracy of published materials, Top Agent Magazine cannot be held responsible for opinions expressed or facts supplied by its authors.

To subscribe or change address, send inquiry to mag@topagentmagazine.com.

Published in the U.S.

2

Top Agent Magazine

Laughs!

Top Agent Magazine

3

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

Expert negotiators all have skills and techniques they bring to the table. It’s quite possible you also have them, and don’t even realize 4

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

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

Top Agent Magazine

Top Agent Magazine

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

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

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

Top Agent Magazine

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

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

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

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

Top Agent Magazine

5

Cooperation, Not Competition, Creates

Mutual Success for Agents When people get along during a business transaction, everyone comes out happier. And in a service industry like real estate, agents have the power deliver that happiness. By working cooperatively, sharing advice and helping each other help clients, agents not only enhance their own reputations, but that of real estate in general.

6

“Bring everyone together” Matt Kobelski, with Credentials Real Estate Group in Massachusetts, points out that providing good service involves more people than the party you’re representing. “I’m not afraid to bring together all the parties in a deal and say, ‘OK, let’s figure out a solution that works best

Top Agent Magazine ®

Top Agent Magazine

Teaming up with an agent from a different brokerage on a transaction is not as uncommon or complicated as it might seem

for everyone,” he explains. “My goal is to avoid being adversarial.” Real estate, he believes, should always be a field in which each person can win. “It’s about working toward a mutual goal, shaking hands, and walking away happy that a seller sold, a buyer bought and everyone got what they wanted.”

But Is it that simple? Most agents have experienced the ways conflicting personalities and tension during a transaction can heat up even the most cordial relations. In reality, however, it’s more productive to let down your guard and work with others as a team than it is to allow stress and competition to preside. South Florida REALTOR® and broker associate, Risë V. Siegrist, for instance, has zero interest in competing with other agents. “It’s more important to be professional and associate with competent, caring people,” she says. By serving others with a cooperative spirit, experienced agents like Risë set an excellent example for emerging real estate stars. Risë hopes to be a model for the next generation of agents, training people who may one day become part of her team.

Risë’s position on cooperation inspires more reasons for nurturing relationships with other agents. Over the decades, many agents change brokerages several times. Who knows if that agent across the table will one day work at the Top Agent Magazine

same brokerage you do? Perhaps you’ll even have an opportunity to partner on an exciting, future transaction. Good relations keep doors open to endless possibilities.

Co-listing cooperation Teaming up with an agent from a different brokerage on a transaction is not as uncommon or complicated as it might seem. In fact, some agents cleverly capitalize on their collective attributes, rather than competing against one another. South Carolina REALTOR® Kimberly Pannit is a perfect example of the universal benefits of co-listings. Although she has always been an independent agent, Kimberly works hard to form professional alliances that give her business the feel of a cooperative network across brokerages.

This cooperative approach may be nontraditional, but it benefits clients in unique ways. By working closely with agents at other brokerages, she shows how agents can improve client service while helping one another.

Kimberly’s cooperative approach began in her own neighborhood, where an agent friend from a different brokerage also lives. “Several years ago, I approached her because both of us were friends with our neighbors. I asked, ‘Why don’t we give our neighbors superior service and

Top Agent Magazine ®

7

co-list together? We both love our area and are passionate about our jobs, the location and schools.’” She also didn’t want to make their mutual friends choose between them when they could work together. “I said, ‘Let’s give them amazing service together!’” With their brokers’ permission, two weeks later the agents co-listed their first home and put extra energy into ensuring uninterrupted client service.

Networking and “Co-opertition” When the ultimate goal is to match a client with the perfect home or create optimal terms of sale for a listings, networking with other agents can facilitate that ideal buyer-seller match.

Nashville REALTOR® and broker/owner Lisa Land embraced every opportunity to contribute meaningfully to the real estate industry and to her local market, even before building her own team. “Agents would frequently ask me for help or advice,” she says, noting that she shares, rather than guarding, the methods she uses to get through difficult or confusing transactions. “I was fortunate to have great mentors when I started in real estate, so I’m always

8

willing to offer help, even to agents outside of The Luxe Collective.”

Meanwhile, on Cape Cod in Massachusetts, Janet Leigh Scott describes the climate between agents as relaxed and professional. “While the real estate market is highly competitive, we’re truly a ‘co-opertition’ market; agents work together and a have greater sense of community than you might experience in off-island brokerages,” Janet says. “If I have buyer coming into town, I’ll reach out to agents I’ve done transactions with to ask if they have anything coming up that might not be on the market yet.”

Even in hot, competitive L.A. real estate, independent agents such as Andrej Nagy of The Agency RE knows the importance of receiving and providing professional mentorship.

“My relationships with clients are extremely important,” he says. “But my relationships with agents on the other side of a deal are also important.” For REALTORS® like him, working smoothly with other agents is a privilege.

Doing so builds rewarding relationships while ensuring win-win transactions for everyone at the closing table.

Top Agent Magazine ®

Top Agent Magazine

RAUL SANCHEZ

Top Agent Magazine

9

Top Agent Raul Sanchez with RES Realty in Minneapolis, Minnesota, specializes in the Hispanic community.

Raul Sanchez is on a mission to help everyone who wants to own a home to be able to reach their goal. As a realtor with RES Realty in Minneapolis, Minnesota, he specializes in the Hispanic community, a demographic that has traditionally had lower rates of home ownership than other populations. The U.S. Office of Management and Budget (OMB) defines “Hispanic or Latino” as a person of Cuban, Mexican, Puerto Rican, South or Central American, or other Spanish culture or origin regardless of race. “When someone thinks that they can’t buy a house because they have been told no by other companies, we can help. We have a lot of experience; we love what we do; and we’re able to help people buy property, which is a win-win for them and for everyone in the community,” Raul says.

According to the Minnesota Home Ownership Center, the Hispanic home ownership rate was only 56.6 percent in 2022, compared to 73 percent for the general population. Raul is doing everything he can 10 Copyright Top Agent Magazine

Top Agent Magazine

to close that gap. Three years ago, he set a personal record by closing 164 properties in one year. “I love to share the ways that I can help a client when they call and want to buy a home, but they think it’s impossible because of their credit score or their income,” he says. “I’ll make a plan for them and show them how they can qualify to get a

Top Agent Magazine

house. My passion is when I get to close on the property and give them the keys. That’s what I love the most about this business.”

With more than two decades in the business, Raul enjoys a strong repeat and referral business from his loyal client base. He takes particular satisfaction in adult children of

11 Copyright Top Agent Magazine

One of the most innovative programs Raul offers is Rent to Own, a program developed to help the Latin community purchase their own home. former clients purchasing their first home on the path to prosperity. He also likes watching his clients move on to new properties as the years progress and their income rises.

“I love to see how the community can grow over time when people buy their first home, second, third, even a fourth home.”

Copyright Top Agent Magazine 12

Raul is always thinking about new tools and strategies that can help his clients in the best way possible. One of the most innovative programs he offers is Rent to Own, a program developed to help the Latin community purchase their own home. With this program, the client has the option of renting Top Agent Magazine

a home for one, two, or three years before purchasing it. It gives people the extra time and flexibility they may need to pay off debt, increase their savings, or raise their credit score in order to make it possible to purchase a home.

In his free time, Raul has a passion for traveling, especially visiting other countries.

He finds that it clears his mind so when he

Top Agent Magazine

comes back, he’s rested and recharged. In the future, he plans to continue focusing on what he does best: removing all the barriers that exist to block home ownership for his clients--not just financially, but geographically as well. That’s why he sees clients in three different locations. “Most of my clients have two or three different jobs,” he explains. “It’s easier for them that way.”

Copyright Top Agent Magazine 13

“I feel so grateful because my clients purchased their first house with me which was a small house that they were able to purchase at the time.

Years later they are coming back to me telling me all the good things in their life and how great life has been treating them, how much they have been growing professionally and economically and they are ready to buy the real dream home they always wanted to purchase.”

Raul Sanchez can be reached at 612-600-7880 email raulsanchezrealty@gmail.com or visit raulsanchezrealtor.com or Instagram

https://www.instagram.com/raulsanchez_realtor/

www.

Copyright Top Agent Magazine 14

Top Agent Magazine

Millennial Buyers: Where They Are & What to Know Homebuyers and sellers come from all walks of life. If you’ve been an agent for long, you’ve likely worked alongside a wide variety of folks—from first-timer homeowners and down-sizers, to second home searchers and those finally hunting for their dream home. While there is hardly a shortage of diversity in the housing market, there Top Agent Magazine

is one generation that is making big strides in homeownership these days: Millennials.

Millennials can be loosely defined as those between the ages of twenty-two to thirtyseven. As you can see, this constitutes a wide swathe of the population. If you’re an agent who stands to learn a bit more about

Top Agent Magazine ®

15

a demographic whose influence and homeownership goals are rapidly evolving, tune in below for a few pointers that can help you expand a segment of your clientele in the process.

Where do Millennials prefer to buy?

Many Millennials came of age during or immediately following the Great Recession, and as such, many of them relocated or returned to mid-size cities and smaller communities where the cost of living was most affordable. Of course, there are countless Millennials that call the U.S.’s major cities home—especially those in the

16

tech industry. The good news is that you can court Millennial clientele no matter where you service area is located. That said, community amenities are of great importance to this generation. They value public transportation, green space, and entertainment—from coffee shops and topnotch restaurants to farmer’s markets and boutiques. Emphasizing those attributes will be key in selling to Millennials and locating neighborhoods they’re most interested in.

What sort of communication do Millennials prefer?

Most Millennials are digital natives, or close to. That means they grew up learning

Top Agent Magazine ®

Top Agent Magazine

how to navigate digital spaces, and prefer to communicate through mediums like email, text, and social media. This isn’t to say that Millennials aren’t good communicators, but they’re often on the go, and have learned to research and shop online. To accommodate this, it’s best to build a presence across the most popular listing portals and social media platforms. Although, it’s not enough to establish a site and wait for the calls to come in. Responsiveness is a key factor for Millennials, who expect speedy response times. Make sure you’re checking your inbox frequently, responding accordingly, and engaging with your audience online. This will let Millennials know

Top Agent Magazine

that you’re savvy, available, and understand the value of their preferred method of communication.

Are Millennials ready to buy?

It’s a common misconception that Millennials are uninterested in the rite of passage of purchasing a home. While Millennials maybe waiting a bit longer than their parents did to buy a home, there are good reasons to explain this phenomenon. For starters, Millennials entered the job market during the downturn, which means they are more conservative when making big purchases, and have to play catch-up to reach a sound

Top Agent Magazine ®

17

financial position. Likewise, student loan debt has proved a major financial inhabitation for Millennials. Instead of socking away a few hundred a month to save for a home, they’re forking over that cash to pay down their educational loans. How does a Realtor compete with this reality? For starters, a bit of understanding goes a long way. Work with your mortgage partners to find financing possibilities that cater to this younger demographic. Recognize that Millennials—like most buyers—have some trepidations when buying a home.

Also consider fielding Millennial clientele with the long view in mind. You might be 18

courting them for months or more until they’re ready to take the plunge, but they’re also famous for their reviews. When a job is done well, Millennials shout it from the rooftops—or at least share it a dozen time from their phone.

As time passes, Millennials will continue to dominate the marketplace when it comes to buying and selling homes. A little self-education on this powerful demographic can go a long way. If you know your clients and your audience, you’ll be in a far better position to serve their interests and make a customer for life.

Top Agent Magazine ®

Top Agent Magazine

mailto:mag@topagentmagazine.com http://www.topagentmagazine.com

Top Agent Magazine

19

24-Hour Touch-ups to Maximize Your List Price Sometimes it takes a full-scale overhaul to prepare a house for market. Other times, only a series of small adjustments are required to make a listing’s true potential shine. Whether you’re gearing up for an open house, assessing a list price, or maximizing a property’s appearance prior to photography—the devil is in the details. However, touch-ups and refreshes don’t have to dominate your schedule or break the bank. For a few ideas of where 20

to begin, consider our handy check-list below for quick home projects that will fortify your bottom line.

Refresh grout for a sparkling clean look.

Perhaps the quickest and most cost-effective way to make bathrooms, kitchens, and other tiled areas shine is to refresh grout until it looks

Top Agent Magazine ®

Top Agent Magazine

good as new. Specialty grout stain removers and cleaners are inexpensive and sold at most home improvement stores. Plus, the project only takes a bit of elbow grease and an hour or two for a major makeover effect. Suddenly, dark, stained, and worn-down bathrooms gleam as if tile has just been placed.

Create mood lighting with soothing bulbs and fixtures.

A warm white light from specially chosen LED bulbs creates a welcoming environment when potential buyers come calling.

If outdated fixtures are bringing down a home’s otherwise modern styling, consider more design-neutral replacements that won’t

Top Agent Magazine

detract from the property’s charms. These are inexpensive but highly noticeable and impactful upgrades that shift a home’s ambiance for the better.

Repaint doors for an updated and inviting entryway.

It may sound like a hassle, but repainting doorways with a fresh coat signals a wellkept property—and that’s before prospective buyers even pass through the threshold. You can also change out generic doorknobs and switch-plates to add an updated flare while on a budget. Color-of-the-year trend choices can turn heads, while neutral paint choices signal less hassle for future homeowners.

Top Agent Magazine ®

21

scrub, or with the addition of new shelves or styled bulbs.

Make windows shine— both inside and out.

Cleanliness goes a long way in communicating a well-cared for home in which buyers can imagine themselves. Cleaning the inside and outside of windows not only refreshes a room, but it allows light to infuse the space while appealing to the move-in ready crowd.

Closet spaces are not an afterthought.

Every prospective buyer wants storage options, and you’ve surely led a home tour where guests inspect closets and pantries.

Don’t let these hidden spaces go overlooked. Make sure they’re clean, cleared as much as possible, and you can even touch them up with fresh paint, a good

22

Remove tough appliance stains with a bit of elbow grease.

If you’re packaging appliances with the sale of a property, you’ll want to make sure those big-ticket items are also in top shape to showcase their value. Stainless steel polish, electric cooktop polish, and stain removing pads for the kitchen sink can make your appliances look five years younger with nothing more than an hour or two’s labor.

Organize garage and basement areas to maximize storage and hint at bonus space.

It may take a labor of love, but organizing and decluttering these special storage spaces

Top Agent Magazine ®

Top Agent Magazine

can add significant value to a property. Instead of telling prospective buyers how much storage space there is—let these areas speak for themselves by giving them a neutral, airy bout of cleansing. That way, craft-lovers, car aficionados, and buyers with interest in renovating basement areas can witness the potential immediately.

Individually, these bit to-do list items might seem like extra work without the promise of Top Agent Magazine

a major return. But combined? These small tasks go a long way in crafting a home’s image and projecting pure potential. After all, prospective buyers imagine their lives unfolding inside those walls. That’s why cobbling together these small-scale projects can have a big payoff in the end. Not only will a home present itself in a cohesive, attractively-packaged form, but it can also translate to higher interest and a significant pay-off—in more ways than one.

Top Agent Magazine ®

23

mailto:mag@topagentmagazine.com

24

Top Agent Magazine