MINNESOTA 6-6-22

MINNESOTA EDITION

7

Reasons Why Your Prospects Aren't Turning Into Clients

Playing the Real Estate Matchmaker

Is Branding the Way to

TAKE YOUR BUSINESS TO THE NEXT LEVEL?

FOLLOW THESE 8 DATING RULES TO ENSURE YOU MATCH YOUR CLIENT WITH THE PERFECT HOME FOR THEM

FEATURED AGENT

KATHRYN PETERS COVER STORY

JEN AZURE

MINNESOTA EDITION

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JEN AZURE

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KATHRYN PETERS

CONTENTS 4) 7 REASONS WHY YOUR PROSPECTS AREN’T TURNING INTO CLIENTS

JEN AZURE

13) WHY MILLENNIALS ARE NOW THE HOTTEST SEGMENT OF THE BUYERS MARKET

19) PLAYING THE REAL ESTATE MATCHMAKER— FOLLOW THESE 8 DATING RULES TO ENSURE YOU MATCH YOUR CLIENT WITH THE PERFECT HOME FOR THEM 22) IS BRANDING THE WAY TO TAKE YOUR BUSINESS TO THE NEXT LEVEL?

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7 Reasons Why Your Prospects Aren’t Turning Into Clients Real estate experts suggest prospecting daily so that your sales pipeline never runs dry.

But sometimes all that effort doesn’t translate into results. If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

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1. You’re Too Slow The Association of Real Estate License Law Officials estimates that there are about 2 million active real estate licensees in the United States alone. Of course, not all these individuals are working in the same markets. Nonetheless, that

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If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

means that realtors face a lot of competition. If you are slow to respond to messages from prospective clients, someone else is sure to beat you to it. As a rule of thumb, it’s best to return calls and emails within 24 hours.

If you’re too busy working with active clients to return the phone calls and emails of prospective clients, consider hiring a real estate assistant who can help take administrative or marketing tasks off your plate.

2. They Don’t Trust You There are different reasons why a client might not trust you, some of which overlap with others on this list. When a client asks you a question, do you answer it directly or do you sidestep it?

Do you have testimonials and reviews from happy clients publicly available? Do you have an online presence? Social proof of your skills and knowledge is key.

3. You Don’t Seem Knowledgeable Enough Is your client constantly coming to you with new listings or marketing ideas rather than the Top Agent Magazine

other way around? Do they mention real estate and finance terms you’ve never heard of or ask you questions you’ve never thought to ask yourself? Every agent starts somewhere, but if this seems to be a pattern, it’s one clients will pick up on too.

Your clients want to know that you will add value to their home buying or selling experience, and part of that value is your expertise and passion.

4. You Have No Web Presence It’s not enough to be on Zillow or have a Facebook page. There are clients who don’t use these platforms, and at the end of the day, you don’t own the content or your access to it. Both platforms could suddenly go out of business and any following you’ve gained could be lost.

It doesn’t cost much to create and maintain a website today. If customization matters little to you, sometimes you can even get up and running for free. At the very least, it’s a good idea to invest in a domain name because yourwebsite. wordpress.com looks a lot less professional than yourwebsite.com.

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5. You Don’t Seem to Care When clients don’t think you care, it usually means they don’t feel like you are listening.

You may have systems, processes, and a proven marketing strategy. You may like to get right down to business, but to your client, this isn’t just business—it’s their life and their family’s livelihood.

When your client tells you what’s important to them, they want to make sure that you really hear them. Make sure your body language conveys that. Slow down. Shut your office door.

Make eye contact, nod your head, and pause before you speak so that they understand that you’ve put thought into your words—that they aren’t simply lines from a script.

6. You Use Too Much Jargon Remember that your clients don’t speak real estate. At most, they might buy or sell a home once every few years. They hired you to be their advocate and may even expect you to be a bit of a teacher too. Use layman’s terms so that your

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client fully understands how the two of you will work together.

7. Your Target Audience Is Everyone Your clients are home buyers and sellers, yes, but who is your ideal client? Some specialties you might consider are college students and recent graduates, working professionals, military families, seniors, CEOs, or other high-profile clients.

As a newer agent, your target audience might be anyone who will hire you, but over time, you might find that you click more with certain clients, that their lifestyle is similar to yours, or that their goals align with your mission. Whatever the reason, marketing your business to this “ideal client” rather than every potential client will make selling your services easier.

Remember: It’s within your power to alleviate your client’s concerns, but understanding why your prospects aren’t turning into clients is a good start.

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JEN AZURE

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Now in her 17th year in the business, Top Agent Jen Azure is a solo agent with Engel & Volkers serving Minneapolis and the surrounding areas.

Jen Azure is the kind of REALTOR® you want running point on your real estate transaction.

Simply put, she is the calm before, during and after the storm.

“I think it’s my work ethic more than anything.

I tend to bend over backward for my people.

It’s part of who I am. I’ve always been a people pleaser. I like to think I’m an extremely positive and happy person, and very easy-going,” said 8

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Jen, the Managing Broker at Engel & Volkers in Prior Lake, a suburb of the Twin Cities of Minneapolis and St. Paul in Minnesota. “Real estate transactions can be a rollercoaster ride.

I tend to offer a level of experience, ease, and patience to get everybody through the transaction.”

Now in her 17th year in the business, Jen joined Engel & Volkers two years ago. “My role is a Top Agent Magazine

little bit different than most agents. We have four different shops. I’ve sold for 17 years and have been a managing broker for 12,” said Jen, who currently works solo but plans to bring on her husband this year to help her on the backend of a successful, growing business. “I wanted to Top Agent Magazine

switch brokerages for a few different reasons, but mainly because Engel & Volkers aligned perfectly with my core values as a person and a business owner. Other than getting into real estate all those years ago, moving over to E&V was the best professional decision I’ve made.

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“There’s never been a day in this business that I haven’t loved being in it. It’s extremely challenging but you’re never ever bored,” Jen said. “I love the community I’m in and I love this profession.”

It’s been so much fun helping them expand further into the southern metro.”

Real estate wasn’t a whim. Jen saw the potential first-hand when she purchased her first home more than 20 years ago and had a wonderful experience with her REALTOR®. It was so good in fact that when Jen’s parents decided to move to the Twin Cities, she called on the same REALTOR®. “I spent a lot of time with her during the process and she just looked at 10

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me and said, ‘You know, you really need to be doing this,’” Jen said. “At the time I was at home with my kids. After college I went into the corporate world, and I hated it. When she said that, something clicked and three months later I was licensed.”

Now Jen is settled in her area of Prior Lake, which she described as having a great restaurant scene for an area outside of the bigger cities. She is especially fond of the Italian bistro Perron’s Top Agent Magazine

Sul Lago as well as the upscale American eatery Plate On Main. And it wouldn’t be surprising to have Jen run into clients while dining – 60-70 percent of her business is repeat and referral.

“I do a lot throughout the year to let my clients know I care. They aren’t just ‘clients;’ many Top Agent Magazine

become friends. Some of the things throughout the year I do to keep in contact with my past clients include appreciation events, mailings, phone calls, and casual get togethers. I let them know they can reach out to me for anything!” she said.

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Jen is also proud of Engel & Volkers’ role in the community, where the brokerage is heavily involved in the Special Olympics and Chamber of Commerce events. As first-year members of the Prior Lake Chamber of Commerce, they were nominated for Business of the Year. “It’s different

every day. There’s never been a day in this business that I haven’t loved being in it. It’s extremely challenging but you’re never ever bored,” Jen said. “I love the community I’m in and I love this profession. It’s been very good to me, and I feel like I’ve given a lot back to it as well.”

Jen Azure can be reached at 952-240-3049 or via email at jen.azure@evrealestate.com Jen’s website is minneapolis.evrealestate.com http://

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Why Millennials Are Now the Hottest Segment of the Buyers Market

and How You Can Attract Them to Your Home There are many factors when it comes to knowing how to sell your home to the Millennial generation. Millennials are becoming an important part of the buyer market, and to fail to cater to their needs will cut you off from a large and important segment. But, why have Millennials all of a sudden become interested in buying houses when they were perfectly content to rent for the rest of their lives?

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A number of factors contribute to what has recently made Millennials the hottest segment of the Buyers market. One factor is the improved job outlook for Millennials. Millennials took a serious blow during the recession.

Unemployment in this group soared to 14 percent, compared to the 9.6 percent for the population as a whole. But, in recent years that number has been decreasing, with unemployment for Millennials being 9.3 percent this past year.

Rising rents are also contributing to making Millennials more interested in purchasing homes now. Rents have risen so much that buying a home now just makes more sense. Half of all renters spend more than 30 percent of their income on housing. Millennials are becoming increasingly stressed over the constantly increasing financial obligation to something that isn’t even theirs to own.

The near-historic low mortgage rates are luring Millennials towards purchasing a home with their promise of affordability. When compared with the skyrocketing rental rates, buying a house looks even more enticing.

Another factor helping Millennials get over the hump of purchasing a house is the lower down payment requirements. Fannie Mae and Freddie Mac are now offering new loan programs that require as little as a 3 percent down payment. This may just be the last push the Millennials needed to turn toward buying a home rather than rent.

So, now that we’ve established that Millennials are finally joining the Buyers market, the next thing that it is important to understand is what exactly Millennials are looking for in a home. What kind of floorplans do they prefer? What locations are they interested in? Here are some of the essentials that Millennials are looking for in a home: • Updated Kitchens and Baths: Almost everyone wants to buy a

home with new kitchen and bath fixtures, but this is especially true for Millennials Buyers. Millennials are going to spend most of their savings on the down payment and furnishings, leaving little room to update the Kitchen and Bath, which are also the most expensive parts of a home to

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update. Millennials who are on a budget simply won’t have the money to sink into those areas. An updated Kitchen and Bath is sure to bring in a younger crowd.

• Big Kitchen with Open Floor Plan: For Millennials, the kitchen has

become the room where they hangout in addition to the family room. This is why having an open space that can transition easily from the kitchen to the TV room is high on the list of things Millennials are looking for in a home. Along a similar vein, Millennials are attracted to an open floor plan rather than one that compartmentalizes the home. This has to do with how Millennials entertain. Millennials want their guests to flow through the rooms and mingle together, rather than be sectioned off in different rooms.

• Home Office: More than 13 million Americans now work from home,

and if you look at the trend, that number is only going to increase as the time goes on. With technology steadily increasing, more Millennials than ever have the flexibility to work from home. But, the home office isn’t just for someone working from home full time. Having a separate space dedicated to work helps people concentrate and focus on work while they are at home. They can separate themselves from the activities going on around the house and have a quiet space where they can set up their workday, plan a presentation, hold a meeting on Skype, or even pay bills.

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• Less Maintenance: Many Millennials work different schedules that

don’t conform to the 9 to 5 workday, as well as full social calendars. This doesn’t leave them much time to clean a big house. Lawn services and low-maintenance front yards are particularly appealing, as they take less responsibility to still keep the curb appeal high.

• Energy-Efficient Appliances: Millennials have been educated on

keeping the Earth clean from the time they were born. They want to do their part to help the environment and appreciate the long-term cost savings that come with it. Energy-efficient appliances and greener ways to heat and cool the home might end up being the tipping point that makes them choose one house over another.

• Hardwood Floors: Millennials don’t have the time or patience to clean

dirty carpets, especially those that own pets. Hardwood and laminate flooring is easy to mop up if there’s been a mess. The more time they can conserve, the better.

• Good Location: Millennial buyers are looking for homes that are in

proximity to public transportation and have a good walking score. Young Millennial buyers without children are more likely to want a location closer to the action of the city, while Millennials with children would prefer more residential areas.

• Technology: Technology rules the Millennial’s life. They do work on

their computers through an Internet connection and solely use cellphones for communication. They are going to ask about how strong the cell service is and about the Internet service provider. While these amenities are out of the seller’s hands, Millennials are still going to ask these questions, and you will need to know how to answer them.

Knowing what Millennials are looking for in a home will ultimately help you make the necessary changes that will attract these buyers to your home.

Since they are the a serious segment of the market now, updating your home to fit their needs will lead to more buyers and better offers. So, get with the times and embrace the Millennial buyer.

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KATHRYN PETERS For Kathryn Peters, there’s no such thing as “good enough.” Whether it’s running a marathon or putting first-time buyers in a home, she aims to give it her all every time. “Because of my competitive nature, I strive to have all fives, five-star, no matter what it is,” she says. “It’s, you do it right or you do it wrong – there’s no in-between with me. My goal is to do everything right.

And that’s my intention.”

Kathryn credits her dedication to doing the right thing for her success. Going into each new relationship she considers how she’ll be rated at the end of it. “I tell everyone right when I meet them upfront, the only thing that I’m going to want from you at the end of this whole transaction, besides finding you a fantastic home or selling your fantastic home, is that I’m going to ask you for a review and a referral,” she says. The reviews serve as much more than an egoboost. They give the former corporate vice president of operations credibility. “It’s that validation, helping to establish my credibility when I came into this great career so late in the game,” she says, “to show that I am that real estate agent that you can always come to before, during, and after. And my reputation has remained very strong on that.”

The Lake Minnetonka agent’s reputation speaks for itself, with nearly all of her business coming from referrals and repeat customers. “So my business is probably 50 percent referral and 40 percent repeat business, she says. ”It’s huge. I am at this point where I’m pretty much just working on only both of those – referral and repeat business.” But with that said, there’s always time for new clients – “I never say no.”

Seven years ago, Kathryn decided to focus primarily on first-time home buyers. “My kids were coming out of college and considering buying homes, and their friends were. The opportunity was amongst first-time homebuyers,” she says. “And I come from a huge family. I’m the oldest of eight.” Her many nieces and nephews added to that first group of prospects. “I still work a lot with first-time homebuyers. Love it.

Love the whole opportunity of helping them navigate those waters.”

Kathryn has since expanded her reach to the other end of the buyer spectrum. “I am almost starting to lean a little bit towards the senior set,” she says. “Frankly, that’s where I am. I wanted to understand it and help folks move through that – those difficult decisions.”

Whether for buyers or sellers, Kathryn is thoughtful and thorough with her marketing. “I’m very strong at putting processes in place,” she says. “Whether I am making those phone calls, whether it’s mailers, whether I’m doing drop-bys, I have something going on several times a month to stay in front of everyone.” Kathryn puts the same energy into her new listings. “I have fantastic photography. I go door-to-door where the listing is and invite neighbors to stop by. I let them know that the house is on the market.” She is also “very, very active” on all social media, posting many times a day on Instagram, Facebook, Twitter, LinkedIn and Pinterest.

Outside of real estate, Kathryn enjoys time in her lake community. Always the competitor, she bikes and runs for charity. And, she doesn’t plan on slowing down.

“I’m not going to retire at 70. I’m going to keep going because this is the kind of business that you can do.”

For more about Kathryn Peters, email kathrynpeters@edinarealty.com call 952-393-2236 or visit edinarealty.com/kathryn-peters-realtor www.

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Playing the Real Estate Matchmaker –

Follow These 8 Dating Rules to Ensure You Match Your Client with the Perfect Home for Them When you think a bit more about it, the ultimate goal of a real estate agent serving a client is really to match them up with the perfect house for them, almost the way a matchmaker tries to find two people that will fit well together as a couple. When people are looking for a house, they often treat the process as a quest for “the one” house that will fulfill their dreams of living in the house of their dreams. Don’t be fooled. It is always a search for “the one”, at least when it comes to helping a couple or family find a home.

When you look at your client’s search for a home in this manner, then you might begin to notice some pretty obvious similarities Top Agent Magazine

between shopping for a home today and online dating. In this day and age most people live a substantial part entire lives online. People socialize with their friends on Facebook, they meet potential friends in forums and online communities, and we now even search for our perfect mate online. Shopping for a home also happens to usually start online. When they begin this search, make no mistake; they are looking for the “one.” These people then turn to you, the REALTOR® to play matchmaker for them. It is your job to wade through the pool of eligible homes (bachelors) and sort through all the ones that are too expensive, too nerdy, not cute enough, not smart enough, etc. until you find the “one.”

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It makes sense then to consult the tried and true practices in matchmaking that help those professionals find the right people for each other, and see if any of them could also apply for matching your clients with their dream home. You’ll find that these 8 dating rules may just show you the secret to matching your clients with the perfect home.

back to the store if you’re not happy with your new home. It’s best to first help your client get prequalified. This is a tangible step that shows they are ready to move on to a new home. You want to make sure they are completely over their love affair with their previous home. You can even ask them for a sign or proof that they’re ready to move on.

Who Is In and Not In Your Client’s League? Know Your Client’s Price Range:

Be Genuine, Not Superficial

When a person is looking for a mate, it is a waste of time for them to even consider those potential mates that are clearly out of their league. These people won’t even stop to give them the time of day.

In the world of real estate the idea is the same. There is no point showing your clients houses that they can’t afford and will simply lust after without having any real chance of purchasing the house. It is your job to keep your client ground in reality, and help them be realistic in terms of price when choosing their next home.

Never Let Your Client’s First Impression of a Home Rule Their Decisions

Make Sure Your Client is Ready to Move On From Their Last Dream Home You’re job is also to make sure that your client is truly ready to move on from their previous home. This is a long term commitment, and they need to be absolutely sure they actually want to buy a new house. You can’t simply take the receipt 20

When trying to manage the many pitfalls of online dating, on inevitably goes on a date where the other person looks nothing like their picture online. That can be just as big of a problem when looking for a house. When clients show you a particular house they want to visit, ask them to name something about the house that they like other than the aesthetics. This way you can see if they are simply infatuated with the way the house looks in those pictures, or if there is a deeper interest in the home that could become a deeper connection between your client and the house.

When your client first sees a house they have already been lusting after in their mind, they’re often so excited to finally be looking at it, especially if it does in fact look as good as it did in the pictures.

Make sure to encourage them to take some time before making such a big com-

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mitment, and don’t let their excitement push them into making a rash decision. It is your job to keep them grounded in reality. Push for your clients to do an inspection to make sure the house isn’t hiding any dark secrets. Sometimes the most charming facade can hide tons of slime and deadly mold.

Follow Your Heart (or Gut) People often laugh at and ridicule the idea of love at first sight, but when it comes to homes, the phenomenon can certainly happen. Your client may just find their perfect dream home at the very first place you take them. If you have a client that does insist this is the case, then you don’t want to try and rationalize with them or talk them out of their decision. You do, however, want to make sure you are watching out for their interest and make sure your clients take all the necessary precautions before they jump in headfirst.

See What Other People See in The Home – Do They See What Your Client Sees?

Have you come to the conclusion that your clients are being blinded by all of the twinkling windows and crystal clear water glistening in the backyard pool, and can’t see that the house they’ve fallen in love with is really just a dirty animal (maybe a pig) dressed up in nice clothes and lipstick. Ask your client if they would be willing to look at the house again with Top Agent Magazine

their close friends, family, and anyone else they trust for a second opinion there to see it with them. If the house really is a dud, they’ll be able to see past any personal bias your client might have to the truth. They will be able to help your client see through the shining facade

Celebrate the Happy Union!

When a couple gets married they tend to throw a big party and celebrate their union. The same goes for the closing.

Your clients have just essentially married the house of their dreams, and now it’s time to rejoice. Congratulate them on their new union. Show your support for their new homeowner status by going to their housewarming party.

Help Your Clients Maintain Their Dream Home & Ensure a Lifetime of Happiness You can’t just disappear after the transaction is finished. Become their realtor for life by showing your clients how to maintain their dream home. Act as their resource for other professionals they may need to maintain the house such as handymen, plumbers, electricians, etc. Show them how to keep up with home maintenance so they don’t ignore problems that surface and end up with a much larger issue than they started with. Help them make sure their dream home lasts so they can live happily ever after in their home for a lifetime.

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Is Branding the Way to Take Your Business to the Next Level?

Despite the importance of finding a Realtor® that is the best person to serve their needs, a lot of people only end up interviewing one Realtor® when they’re thinking about buying or selling a home. A lot of times people make that decision based on a referral, but why not do everything you can to be the name they think of when they make the decision to hire a real estate professional outside of referrals? Especially if you’re starting out and haven’t built up any repeat and referral business yet.

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When you want to make your name synonymous with real estate transaction success, you might want to consider branding yourself. Personal branding, long a staple of Corporate America, is also an invaluable tool for those in the real estate industry as well. Understanding branding and being consistent about it, is one way to insure you’ll have a successful and long-lasting business. It’s up to you to make consumers think that their success in real estate is dependent on finding the perfect agent—YOU. Top Agent Magazine

SO WHAT EXACTLY IS BRANDING? Branding is a long term marketing strategy that builds your carefully crafted image over time through consistent repetition. A common misperception about branding is that it’s is the same thing as marketing. While the two go hand and hand in many ways, branding is specifically about creating and reinforcing the perception of not only who you are as a person, but what your business values are, and getting that out to the world in a consistent way Everything from your logo, to your website

to your social media presence, should all line up and reinforce your brand. It’s that repetitiveness that will hammer home the perception you are trying to create. Your brand informs your marketing, while your marketing strengthens your brand. Of course then you have to do is make sure your service lives up to what you’re selling. Getting them in the door is one thing, but you’re in it for lifetime customers and referrals.

Every brand is strengthened when it is built on a foundation of integrity and trust.

CREATING A BRAND Although it might take time and money upfront to get it right, branding is almost guaranteed to pay off in the long run. But branding is more than just having a graphic designer come in and make a logo. Consider branding more of a promise to your clients and potential clients, succinctly stating the value and expertise working with you will afford them. There are clear, tried and true methods to creating your branding. Because you have to go all in on the way you want to brand yourself, it’s important to evaluate fully before you make the leap.

This all starts with an honest assessment of your business and where you want it to go, including how much time and money you’re willing to invest to get there. After that you may want to add focusing on a niche market to your branding. Regardless of whether or Top Agent Magazine

not you have a niche, another important part of branding is coming up with a memorable tagline that sells your brand or niche. All of your graphics, picture and information, should be consistent across all social media platforms, marketing materials, advertising and websites.

If you are interested in branding yourself, there are numerous books on the subject that will give you an in-depth tutorial on the process and the steps you need to take.

But what it basically all comes down to is commitment. Find a brand that is true to you, one that you can commit to performing and then back it up by not only meeting, but exceeding what you promised.

If done right, soon you’ll become an in-demand agent whose name is synonymous with success!

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