MISSOURI 10-17-22

MISSOURI EDITION

BUSINESS GROWTH HACK: ABSORB YOUR CLIENTS' STRESS! RECONSIDER REFERRAL-ONLY WHEN PLANNING FOR THE FUTURE

HOW TO THROW A NETWORKING EVENT THAT CAN PUT YOUR BUSINESS ON THE MAP

BY THE NUMBERS: UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

COVER STORY

KYLE MORRIS

MISSOURI EDITION

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KYLE MORRIS

CONTENTS

KYLE MORRIS

4) RECONSIDER REFERRAL-ONLY WHEN PLANNING FOR THE FUTURE

17) BUSINESS GROWTH HACK: ABSORB YOUR CLIENTS' STRESS!

14) HOW TO THROW A NETWORKING EVENT THAT CAN PUT YOUR BUSINESS ON THE MAP

20) BY THE NUMBERS: UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

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Reconsider Referral-Only When Planning for the Future

A 100% referral rate is a testament of client happiness. But even a 30% referral rate is proof of client satisfaction. It’s all relative, say some agents. One number pays tribute to past success, which is certainly a story worth telling. But the other might better predict the future. Many agents plan for the idea that 4

working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector.

Unless you are clairvoyant enough to flawlessly predict every market change or every

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Many agents plan for the idea that working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector. life change that your clients and referral partners may experience, it’s wise to maintain an active marketing presence. The reasons vary, however, depending on the goals and trajectory of each individual’s business.

If long-term success, a growing team, a legacy or expansion into new areas are not priorities, then working a sphere of influence may be enough for some agents, especially those who may be in the industry mostly for the love of the business. But for a majority of agents, no matter how much they love their work, their real estate and mortgage businesses are careers, first and foremost.

Let’s start with the team-builders and mentors. Agents and brokers who are building teams are wise to invest in business marketing, advertising and community outreach. Ty Hutchins, who owns and operates Ty & Company Real Estate in Colorado’s Front Range, says that, while she could personally live off referrals alone, her goal is to build up her agents. “I do the marketing piece for my team, so I can help them succeed,” she says. That marketing includes running commercials on TV and in movies theatres, as well as lead generation that identifies potential buyers, sellers and Top Agent Magazine

investors between the Colorado Springs and Denver markets. Her team’s goal, she adds, is to promote their reputation of being honest, hardworking professionals with the reach of a major brand but the personalized approach of a boutique.

Then there are the growers. Khrista Jarvis and Nicole Jung of The Khrista Jarvis Team in the San Francisco Bay Area, are on a considerable growth track. “We’re the #1 team in our area and the top team in Compass Real Estate nationally,” explains Khrista. While high marks for service on behalf of their clients have led them to these heights, they know that they must continue to evolve and market their brand. “We do a good deal of social media marketing for our listings and for our business,” she says. Their names, therefore, are frequently linked to sentiments of trust, dependability and market knowledge, both in their marketing and in their reviews.

Next, there are those who weathered the worst of times. Susan Roche entered real estate sales in 2003, following several years of property management in North Carolina.

The key to her sustained triumphs through major market swings lies in her long-range planning. “If the market starts to dip or fall,

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I have safety nets in place,” says Susan Roche, team leader of Simply Real Estate, based in Charlotte. “When it’s a seller’s market, I still plan for a buyer’s market and when it’s a buyer’s market I plan for a seller’s market..” In other words, no matter how comfortable her existing work may feel, she networks consistently. She also employs a full-time marketing director who leads several projects including ongoing research, events and social media exposure in addition to listings marketing. By staying ahead of market changes, Susan knows she can unfailingly represent her clients’ best interests while still maintaining a safety net for her business.

Even professionals with more than three decades’ experience and deep referral networks know the importance of business

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marketing. Cathy Richards, co-owner with Nancy Dalaska of Epic-Wasatch Homes in Park City, UT, entered real estate in 1987 and still draws at least a fifth of her business from lead generation, social media marketing and community outreach. Her business partner, Nancy, adds that real estate is about much more than their own business. “We love collaborating and brainstorming with other agents to help them prosper,” says Nancy. “We believe the healthier the market, the better we all are.”

Regardless of market conditions, even the best reputation can’t guarantee long-term success. To sustain and grow, it’s wise to feed your business by increasing exposure, remaining flexible and maintaining systems for customer service, networking, research, marketing and lead-generation.

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KYLE MORRIS

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After serving in the Army in Iraq and Afghanistan, Top Agent Kyle Morris moved to Missouri and now works solo at eXp Realty in St. Louis.

Army veteran Kyle Morris has come a long way in a short time in real estate, due in part to his innovation and dedication to “stacking the deal” for the client. “I am a veteran, I have a very good work ethic,” he says. “I have integrity, and everything I do is the utmost for my clients. I do nothing for myself.” Kyle gains trust of his clients by treating them like more than a transaction.

He has quickly learned that clients can fill a pipeline with referrals “if you can find a way to make your relationships with your clients–non transactional–make them your friend, bring them into your life.” On that principle, Kyle zoomed to $6 million in sales in his second year as an agent, with most of his business now coming in referrals.

Kyle’s early success belies his hard-scrabble path he took to get into the profession. After serving in the Army in Iraq and Afghanistan, he was living in Arizona and managing a small lawn care business. He struck out to Missouri with a bag of clothes and a body 8Copyright Top Agent Magazine

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pillow to live closer to his child from an earlier marriage. He had no contacts, no place to live in Missouri. He rented a room for $400 a month and installed cable to get by. Then, while delivering for Door Dash during the pandemic, Kyle had an “aha” moment. He would immediately sign up for classes to embark on a real estate career.

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The move set Kyle’s life on a whole new trajectory, and he knew it right away. He literally cried the day he passed his licensing exam. After a brief stint at another brokerage where he racked up $4 million in sales volume his first year, he transferred to become a sole eXp Realty agent in St. Louis. He not only found a more

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A core part of Kyle’s practice and marketing centers on Homes for Heroes, a program aimed at saving thousands on home purchases by public service workers. profitable commission structure, he also grew his overall numbers.

Kyle owes his success to military work ethic and working hard to land favorable deals for his clients. A core part of his practice and marketing centers on Homes for Heroes, a program aimed at saving thousands on home purchases by public service workers. With that program, a percentage of his commission goes back to the buyer. Kyle takes it a step further by loaning clients his branded moving truck, which can save customers even more. “It’s just a simple way of showing these people that people are here Copyright Top Agent Magazine 10

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for them and to help them, and that’s what I like to do.”

Kyle gets additional brand exposure through his golf tournament sponsorships, social media and direct mail campaigns. He even meets new potential clients through good, old-fashioned door knocking. “It’s free, it’s exercise. You never know who you’re going to meet,” he says. “Just go door knock because nobody does it anymore. It will show that you’re willing to do the work; people will work with you.” After the deal is settled, the agent wants clients to keep in mind he is there to help for their next move.

He keeps in touch with a text or phone call each quarter.

A thriving start in the business has helped focus Kyle’s goals for the near future and

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beyond. He has his eye set on reaching eXp’s coveted “icon” status. To do that, he’ll need to reach $7 million in yearly sales by October. From there, he would like to secure more passive income with rental properties. He has already surpassed

his target of two rentals and now plans on managing 10. Kyle also wants to give other newcomers a boost in the profession.

“When I’m not doing real estate, my thing is helping other people,” he says. It’s very important in my business plan.”

Contact Kyle Morris at 314.393.2416 visit kylemorris.exprealty.com, www.instagram.com/sambazzy1/ or email kyle.morris@exprealty.com www.

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How to Throw a Networking Event

that Can Put Your Business on the Map It’s hard to argue with the benefits of attending networking events—you make new connections, enjoy industry skill-building conversation, and expand your reach in the local business community. However, have you ever considered the benefits of hosting a networking event?

Instead of attending as a guest, you’ll be the wizard behind it all. Throwing a networking event can position you as a local business leader, and you’ll be able to curate the experience to your tastes and goals. This idea may be tempting, but how do you pull it off? Review some 14

of our tips and tricks below and you’ll be more than ready to throw a networking event that’ll put you on the map.

MAKE IT EASY FOR YOUR GUESTS TO SAY YES. From the outset, try to keep things as simple as possible for your guests. This means that e-invites should be structured, yet conversational.

Include a link to register online so that arriving to your event is seamless and requires no signup sheets or stuffy check-in procedures. Select a venue that’s relatively well-known and central

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Throwing a networking event can position you as a local business leader, and you’ll be able to curate the experience to your tastes and goals. to your area. It should also have easy-to-access parking so that attendance is streamlined and hassle-free. Also consider sending an automated event reminder the day before and the day of the event—that way you’ll set guests up for easy attendance that they don’t have to debate.

CREATE A THEME. Capitalizing on a holiday or local event is a great way to drive attendance to your networking function. While getting to know area professionals is a worthy reason to meet up, you’re likely to engender a livelier ambiance if you incorporate a holiday or theme. This will inspire comradery among your guests, in addition to giving your event a natural focus. Major sporting events, a Thanksgiving themed pie bakeoff, or a spring cleaning themed community volunteer day can generate more interest than your average mixer.

GET CREATIVE WITH YOUR GUEST LIST. While you may be trying to keep your invite list industry-specific, you may benefit from casting a wider net. Invite area entrepreneurs, young professionals, collegiate professional organizations, and even friends and family. You never know what sort of connections will be made, and high attendance is key to keeping the energy of your networking event at a high tier. Don’t worry about only collecting info from realtors or brokers or mortgage pros. Instead, create a Top Agent Magazine

sense of community so that opportunities flow naturally and conversation remains diverse.

BE THE BOSS. As host, it’ll be your job to play matchmaker and drive conversation at your networking event. This means that you’ll get to know more people, but it also means you’ll be able to create connections between different professionals and businesses. You can maximize your matchmaking abilities by planting a few socially-minded friends around to drive additional conversations. Your goal is to keep people talking and to be outgoing. It should also be your goal to follow-up once the event is complete. Use this as an opportunity to continue to connect different people you met, or to follow-up with coffee or lunch with someone you found interesting. Try sending out a group thank-you e-mail to your guests after the fact, telling them to keep an eye out for your next event, or to get in touch with you for any questions or contact information of fellow attendees.

While it may feel like a risk to throw a networking event, it’s a risk worth taking. By positioning yourself as the host of your event, you’ll drive awareness to your business and brand, and build up the local professional community in a way that’s sure to draw good will your way.

Keep these ideas in mind as you go about planning a memorable networking event of your own, and above all—have a good time and others will follow suit.

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Business Growth Hack: Absorb Your Clients’ Stress!

Your business coach or a CRM software sales rep has probably described a number of products or services to help you grow your business. But sometimes the easiest way to increase the deals you’re closing is to simply be present for your clients. In doing so, you’ll find have the power to decrease the stress they feel. And when you decrease their stress, you increase your value to them, leading to new referrals and organic growth.

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You may be thinking, “I have enough stress; how can I find the emotional bandwidth for other people’s stress?” But consider this: As their day-to-day point of contact in this life decision, you are already a strong presence in your client’s lives. Why not allow yourself to be the only seemingly calm part of this process? By asking them what’s on their mind, by truly listening, by showing that you truly understand and even by rolling up

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your sleeves to relieve some of their grunt work, you’ll prove yourself invaluable.

Think of yourself as the equivalent of an anti-anxiety pill to your clients. All you have to do is form a few easy habits.

Laura and Raj, their agent and their loan officer soon came to learn that Laura’s 80-year-old mother may eventually move in with the family. This news not only helped the agent best meet Laura’s and Raj’s needs for a new home; it gave both the agent and the loan officer opportunities to go above and beyond for their clients. Their REALTOR® connected Laura with a senior services nonprofit near Laura’s mom’s current home that may be able to assist the family.

And their loan officer outlined various, detailed options to Laura and Raj make smart, long-term financial decisions.

Meanwhile, the agent and loan officer earned the trust of Laura and Raj, who felt less worried about the future.

Listen – really listen – with patience Behind every home purchase or sale is a person or a family with a uniquely complex set of needs, motivations, objectives and priorities. Asking the right questions and truly listening to the answers are the easiest ways to learn how to make clients’ lives easier. In doing so, you not only show that you’re interested in them as people, but you help yourself discover ways to surprise your clients with service.

Take “Laura and Raj,” for instance – a couple in their 30s who wanted a larger home because their family of five outgrew their first home. By patiently getting to know 18

Empathize Don’t be afraid to describe your own personal experiences as a homebuyer or seller, explaining how you felt at the time; let your client know you “get” it. The agent who is willing to open up and let buyers and

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sellers know that they personally understand their needs and concerns will connect with clients quickly, break down barriers and help the process move smoothly.

Chayan Alavi, Broker/Owner of Alavi Agency in Long Beach, California, challenges himself and his team to ensure that every action of every day serves others. “If we can put ourselves in other people’s shoes with empathy, then we become stellar professionals and great human beings, too,” he says. “I like knowing that we remove the sales pitch from real estate and make it all about the customer.” Chayan and his team focus on customer advocacy and building trust. But they don’t take trust for granted.

Instead, they know trust must be earned and nurtured over time.

Roll up your sleeves “You can’t be afraid to do anything!” says Matthew Todd of d’aprile properties in the Chicago area. “People know there’s nothing I won’t do to get the job done.” He has Top Agent Magazine

mowed clients’ lawns, walked dogs and personally cleaned someone’s 8,000-squarefoot, $2 million home for a showing one day after his seller left the house. Two days before another closing, Matthew’s client was unable to move large amounts of unneeded furniture out of the house he sold. No problem! Matthew joined or created five online garage sales; sold or gave away most of the client’s belongings and had the remainder hauled away before cleaning in time for the closing. “The first time I sit with a seller on listing presentation or the first day I take someone on a buyer’s tour, they know I’m ‘all-in.’”

Meanwhile, in the Cincinnati area, Aaron Denton of Summit Funding considers himself and his team members to be concierges for their borrowers. “We’re like personal assistants,” says Aaron. “People are happier when you remove the stress.” Included in their standard services are researching moving quotes; arranging and organizing movein day; scheduling utility transfers; assisting with children’s school registration paperwork; and even connecting buyers with local resources like daycares.

If “rolling up your sleeves” isn’t your strongest skill, then an easy alternative is to get to know professionals in your area who can do these tasks for you. In the end, remember that by listening with patience, empathizing, and being willing to go the extra mile, you have the power to remove the stress your clients would experience without your help.

When clients feel cared for, they remember the agents and partners who helped them.

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By the Numbers:

Understanding the True Value of Square Footage Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure.

True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of 20

a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.

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1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus,

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original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.

2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage: n

Called “below grade spaces,” basements and sunrooms beyond a home’s typical

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living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings. n

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Did you know the space inside closets and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.

When recording square footage, ANSI actually suggests performing measurements from a property’s exterior—though this method does not account for the

thickness of exterior walls, which could skew square footage numbers. n

Just like below grade spaces, a garage, a pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.

3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures

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Laughs!

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