MINNESOTA EDITION
6 TO BE A GREAT THINGS YOU NEED TO DO
MENTOR
Emotional Fluency:
HOW TO COMMUNICATE WITH CLIENTS WHEN TENSIONS ARE HIGH
INCORPORATING CHARITABLE GIVING
in Your Real Estate Practice
5
Simple Mindset Shifts THAT WILL HELP YOU ACHIEVE YOUR GOALS
COVER STORY
MARIA PALMER
MINNESOTA EDITION
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MARIA PALMER
CONTENTS 4) 6 THINGS YOU NEED TO DO TO BE A GREAT MENTOR
18) 5 SIMPLE MINDSET SHIFTS THAT WILL HELP YOU ACHIEVE YOUR GOALS
14) EMOTIONAL FLUENCY: HOW TO COMMUNICATE WITH CLIENTS WHEN TENSIONS ARE HIGH
20) INCORPORATING CHARITABLE GIVING IN YOUR REAL ESTATE PRACTICE
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.
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6 Things You Need to Do to Be a Great Mentor
Everyone reaches the point in their career where they feel they have gained enough experience and wisdom about business and what it takes to succeed, to actually help someone else achieve the same. Although you may have trained or given advice over the years, taking on the official status as a mentor to someone is a whole new ball game. 4
Although mentorship is an unpaid endeavor, you’ll be surprised to find out how much you’ll gain from the experience. You’ll also grow as a business person through the process of teaching someone else. It’s also an endeavor that many will pay forward one day, creating a business atmosphere that is based more on mutual success than competition, which is better for everyone.
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If you were mentored, you may already have an idea of what it entails, and what you liked or didn’t like in your mentor/mentee relationship. Although it is a personal relationship that will need an individual approach, there are certain things that are key when it comes to being a great mentor: 1. Be a good listener
est about your own failures. It can be a huge relief to find out someone they look up to has gone through similar experiences and still managed to come out on top. As we all know, oftentimes the greatest lessons come from failures, which can be times when our character is truly tested. Building trust through mutual respect and honesty will make every aspect of your mentorship more effective.
You’re basically a sounding board who needs to hear your mentee’s ideas, plans and goals in order to advise them. Strong, constant and clear communication is key to any successful mentoring relationship. Sometimes just letting them talk things out with you, will lead to them to discovering the solution they were looking for. 2. Set expectations and goals at the start When listening to your mentee in your first meeting about the potential relationship, it’s important to establish the parameters of what that relationship will be: What can you give them? What do they need or expect from you? Once the terms are agreed upon, you may want to set specific goals you’ll be working on together so that there’s a defined plan of action, timeline and result you can both expect. 3. Be honest This is important when it comes to offering them constructive criticism or tough love, but more importantly, you need to be honTop Agent Magazine
4. Get them to think, don’t make decisions for them Sometimes being a mentor is being a bit like a psychologist. By asking certain ques-
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tions you can lead your mentee to their own conclusions about their business dilemmas and strategies to reach their goals. Being a mentor is all about guidance. Build confidence by drawing out the best in your mentee rather than just presenting them with solutions. 5. Look at the situation objectively One of the key strengths you offer your mentee is a complete emotional detachment to their business. You have no sentimental attachment to doing things a certain way or working with an incompetent vendor because you ‘go way back’. Your only motive is what’s best for your mentee and their business. Although emotions cans still get in the way sometimes, having a detached perspective on hand to guide you is invaluable. 6. Don’t just offer constructive criticism, be supportive Yes, being a mentor is sometimes advising your mentee that he’s doing something ineffectively, but your main purpose is to alway approach everything like cheerleader. You need to let them know that through it 6
all, you are a reliable support to them and have a complete belief in their abilities. Make sure to always praise their accomplishments. Remember: your job as a mentor is more about guidance than constant feedback. Your goal is to help someone become the best they can be, not someone who just does everything the way you do it. You’re helping them build confidence in their own intuition, which will hopefully lead to a lifetime of success, and one day, they too might be a valuable resource to another mentee down the road.
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MARIA PALMER
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“We like to go above and beyond because for us, real estate is as much a lifestyle as it is a job. People can sense that authenticity, and we pour that passion into every interaction.” Maria Palmer of Edina, Minnesota, is celebrating her career in real estate by officially combining forces with her husband, Scott, who owns and runs 8
a construction and design company. “We’ve been working unofficially for our entire lives, but now we are formally housed under one corporate roof as Top Agent Magazine
‘MSP Homes.’ Some people think it only stands for Minneapolis St. Paul, but it also stands for Maria Scott Palmer!” This dynamic duo has fostered a private passion for real estate and investing for over a decade. “We had been investing in multi-family properties since 2011,” Maria recalls. “Living in them, fixing them up, boots on the ground – so I decided to get my real estate license. I hadn’t planned on helping anybody else, but friends and family started reaching out and things got pretty big.” After becoming officially licensed in 2017, Maria launched her enterprise as a solo
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agent with Edina Realty, and she became a full-time REALTOR® in 2019. Since then, Maria has averaged between thirty and forty annual transactions servicing the southwest metro area of Minneapolis, bolstered by a book of business that is over ninety-eight percent referral clients. “It started with friends and family – our three kids have thirteen cousins within a ten minute radius of us, so lots of people in our lives are upscaling their homes. Today, if a new client isn’t already part of the family, they get brought into the fold! We welcome them to annual photo shoots and holiday
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events – our network in the twin cities just keeps growing.” In addition to her robust interpersonal network, Maria goes to great lengths to leverage her education to help garner competitive offers for her clients. “I have warehouses full of staging items,” she exudes. “Visually being able to tie the whole house together is so important. We do video editing, digital walkthroughs, and aerial shoots. I’m a huge believer in the power of staging, especially when people are touring houses using their
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cell phones.” This customized approach to digital marketing has Maria poised to grow as a solo agent on both sides of the transaction. “I like helping people get the most bang for their buck by coming up with ideas for quick fixes. And from a buyer’s perspective, I love being able to help them see past bad paint jobs and poor staging. Helping people capitalize on my expertise just fuels my passion.” With their partnership cemented, Maria is excited to pair her real estate knowledge with her husbands construction and design company, to help clients contemplating moving or renovating. “It’s nice to have a husband-and-wife Top Agent Magazine
duo provide an unbiased resource. We consult with lots of people who are considering selling or renovating their houses, and most of the time a consultant is trying to persuade you one way or the other. But not us – we can lay out all of the options, and help people do what’s right for them.” This professional and private teamwork establishes a rare level of trust, and Maria’s testimonials broadcast her transparency, advocacy, and sincerity during every step of the process. “We like to go above and beyond because for us, real estate is as much a lifestyle as it is a job. People can sense that authenticity, and we pour that passion into every interaction.” 11
To learn more about Maria Palmer, email MariaPalmer@edinarealty.com, call 612.618.1449, or visit: Mp-homes.com & msphomes.com
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Emotional Fluency:
How to Communicate with Clients When Tensions are High Managing emotions, expectations, and personalities are central to a successful real estate career. After all, this is a business based on relationships and interpersonal communication. Likewise, real estate is built on one of life’s central milestones—homeownership. This means that stress, disappointment, excitement, and competition are inherently 14
involved in the process. As an agent, you take on the real estate world every day, but most of your clients aren’t well-versed in the norms of the industry and are likely riding an emotional roller coaster throughout. Acknowledging this, how do you steer the ship when emotions and tensions are running high?
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For starters, it’s not always intuitive. Just like you add tools to your arsenal when it comes to marketing, social media, or lead generation, you also have to add emotional tools to your repertoire. Here are a few ways to diffuse tense situations and keep clients on an even keel—even during the ups and downs of the transactional process.
Create realistic expectations from the outset and reinforce them as you go As a seasoned agent, some aspects of the industry may seem run of the mill to you, but may come as a shock to your clients. That’s
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why communicating expectations from the beginning can help create reasonable touchpoints in the minds of your clients. In addition to talking through the steps of the transactional process with your clients, consider writing out a checklist or compiling a buyer’s guide that can serve as a resource for them throughout. Think of it like a security blanket, but one that’s built by facts, figures, and anecdotal experience. If you paint a clear picture of what to expect, clients are less likely to be taken by the surprise and react impulsively as a result. What’s more, reinforce next steps, expectations, and possible outcomes as you go. If your client is left to wonder or guess at what’s ahead or
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what will happen, they will either envision the worst-case scenario and panic, or they’ll misjudge the next step and be disappointed or left anxious as a result. Minimize surprises by communicating regularly, clearly, and with all options on the table.
When unveiling a problem, come to clients with potential solutions in hand Any agent worth his or her salt knows that bumps in the road are likely to occur along the way. You can’t promise a transaction free of stress or unforeseen issues, but you can minimize the ensuing stress by preparing you client in advance for any potential problems, and by addressing any problems
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clearly and with solutions already in hand. Clients are likely to become agitated if a problem arises and they can’t understand why or what it means. That’s why slowing it down, talking it through, and offering potential avenues for recourse can quell fears and remind clients why they chose you to facilitate the transactional process. This means you’ll have to vigilant, proactive, and on the ball. Of course, it’s much easier to be an agent when everything is going great and flowing naturally. It’s when things take an unexpected or negative turn that true talent is really tested. Accordingly, show your clients that you are confident and in control by remaining adaptable, communicative, and clear in your problem-solving approach.
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Never underestimate the power of listening As an agent, you are probably well-versed in putting out fires and sourcing solutions. Sometimes, however, clients are really looking to you as a confidante and a listening ear. You’d be surprised how much nervousness you can resolve by simply offering a listening ear and offering reassurance. Sometimes it’s not about providing a band-aid or a practical solution; oftentimes, it’s all about listening. Clients need to feel like they’re being heard, even if you’ve heard it all before. By listening to their fears, acknowledging their perspective, and reiterating their goals—you display your empathy and understanding, which is often just what a client Top Agent Magazine
needs to feel better. In other words, you don’t have to break out the graphs and data each time a client airs his or her insecurity. First, slow down, listen, and interact on a personal level. You may stop an emotional upheaval in its tracks simply by putting your listening cap on. Not all clients are alike. Some will require a little more hand-holding than others, but it’s your job to put yourself in their perspective, recognize the milestone at hand, and managing the personalities you’re working with. The next time you feel frustrated by a client’s unpredictable emotional energy, keep these insights in mind as you diffuse the situation, steer them to a place of comfort, and fortify your interpersonal skillset in the process.
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5 Simple Mindset Shifts That Will Help You Achieve Your Goals
Everyone knows that a positive attitude is one of the key steps to achieving success. It’s very easy to let negativity bring you down and oftentimes, people end up quitting at the first set back. Even if you don’t think of yourself as a negative person, you’re probably doing numerous things you don’t even realize are holding you back. Recognizing these negative mindsets, and then implementing simple mindset shifts, are sure to help you not only create a more positive outlook, but a more successful outcome to whatever goal you’re trying to achieve. 18
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Turn jealousy into admiration
It’s very easy to look at someone who has what you want, and feel envious, which quickly turns into criticism and excuses about why you weren’t able to get what they seemed to get with ease. This is something successful people never do. Instead, they recognize that the only thing keeping them from success is themselves. If you want what someone else has, you should look to them as a role model. What
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are they doing that you aren’t? There’s probably more to their story than you’re giving them credit for. Someone else’s success doesn’t hinder your ability to do the same, but constantly having a ‘life’s not fair’ attitude definitely will.
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Tackle the things you dread doing first
We all procrastinate to some extent. Usually it’s things we don’t want to do. But when you put something like that off, it creates a serious cloud over your whole day. Experts recommend getting those things out of the way first. Not only do get it crossed off your list, but you will feel energized by your accomplishments and tackle the day with even more force.
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Don’t make decisions based on emotion
Reaching goals, especially long term ones, can have a lot of ups and downs. The key to achieving them is to stay level-headed during setbacks, really focusing on your plan and how the setback fits into your long term vision. If you have a solid plan in place, you could be destroying months of hard work with one rash emotional decision, that is probably coming from a place of panic. When you’re feeling emotional...wait. It really is that simple. Wait it out until Top Agent Magazine
you’re back in a rational state of mind and take it from there.
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Learn to love feedback
It’s very easy to be thrown off by negative feedback or constructive criticism. No one likes it. But when it comes to achieving your goals, you need to be able to hear it, assess it and then make an unemotional decision about what it means to you and your success. In fact the business world’s most successful leaders are there because they not only take in that feedback, they actually constantly ask for it. Fresh perspectives on what you’re doing are always valuable. When you’re in the thick of it, it can be hard to see what needs improvement. Asking a trusted peer or advisor can be instrumental in keeping the momentum on reaching your goal going.
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Replace a fixed mindset with a growth mindset
You might be wondering what the difference between the two are. A fixed mindset thinks that growing intelligence or skills is impossible, while a growth mindset thinks those things can be developed. People with a growth mindset are more likely to expand beyond their comfort zone, since they really believe almost anything is possible with hard work. And if it isn’t? They’re willing to give it a try. Being willing to try and fail, is a key element to reaching even the most lofty goals.
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Incorporating Charitable Giving in Your Real Estate Practice
As real estate professionals, taking part in the community and serving others is central to a long-lasting practice. After all, agents are in the business of homeownership, building a financial future, and helping their clients begin new and fruitful chapters. With that in 20
mind, how might an agent deliver that spirit of service in a broader sphere? The truth is, charitable giving offers nothing but upsides. Contributing to a worthy cause is a noble and meaningful endeavor, but it
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Contributing to a worthy cause is a noble and meaningful endeavor, but it also presents positive byproducts for the giver: tax write-offs, name recognition in the community, and the ability to expand your network.
also presents positive byproducts for the giver: tax write-offs, name recognition in the community, and the ability to expand your network. If charitable giving is an idea you’ve toyed with, or a practice you’ve engaged in only now and again, here are a few ways to make it a foundational element of your business and a win-win for all.
Find causes that speak to you. Donating funds or resources can feel anonymous if you’re divorced from the organization you’re working with. While national and international charitable organizations are certainly effective and worthwhile, you might consider partnering with local chapters of those organizations, or identifying hyper-local organizations that address need in your state, county, town, or even your own neighborhood. The first step to establishing a charitable relationship is to find a cause that you genuinely care about. For many, animal rescue is a tangible cause where resources and volunteership are always welcome. For others, children’s health and advocacy is a calling. Regardless Top Agent Magazine
of your personal passion, participation can be big or small. From sponsoring a local youth sports league to partnering with an area animal shelter for their annual spay-athon event—there are all sorts of ways to make a difference.
Unite your team for the common good. One way to make charitable giving a staple is to do it in arm and arm with others. Supporting a local cause is a great way to bring your team together in a unifying capacity. Hosting coat drives in winter, blanket drives for local animal shelters, or backpack drives for needy students at the start of the new school year— all are straightforward and highly useful, direct ways to give to your community as a team. It’s also important to set collective goals as a way of keeping people motivated and accountable over time. Offices are productive, but often hectic spaces. Injecting a collective goal with a positive, tangible result can create an ambiance of goodwill and generosity—both of which are worthwhile attributes to cultivate as
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the leader of your team. Lastly, consider timely giving as a way of connecting your team to their community. Natural disasters, local fundraising drives, and improvement funds are all direct ways your team can contribute, while they themselves reap the benefit in the community.
Include clients in the process. You’ve likely heard of charitable donations made in the name of your client as an alternative to the classic closing gift, but there are a few ways you might update this method of giving. For starters, consider including your clients in the selection process. Do they have a special cause that’s close to their hearts? Likewise, you might
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consider making regular, consistent giving a part of your routine post-closing. Instead of following up with your yearly poinsettia plant or pumpkin, you might find a cause in their neighborhood or township that you can support in their name. It’s wise to choose something apolitical, but a cause that’s hyperlocal to their area demonstrates unique thoughtfulness. There are plenty of ways in which society as a whole can benefit from charitable causes that build goodwill in the world, support those less fortunate, and bolster a positive future. Incorporating charitable giving in your business model is a generous way to make this mentality a central tenet of your team and a defining characteristic for your clients to remember.
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