ONTARIO EDITION
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WAYS TO
GET YOUR CLIENT TO TRUST YOU
Welcome Home:
Beyond Cleaning and Decluttering: WHAT IMPROVEMENT EXPENSES MAKE THE MOST SENSE?
WORKING WITH RELOCATORS IN TRANSITION DEVELOPING YOUR PRICING PHILOSOPHY
COVER STORY
LAYLA & MICHAEL DI MEO
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LAYLA & MICHAEL DI MEO
CONTENTS For more about Layla & Michael Di Meo, call (519) 903-4002,
4) WELCOMEemail HOME: 16) DEVELOPING YOUR michaeldimeo@royallepage.ca or Layla.dimeo@royallepage.ca, windsoressexcountyproperties.com or visit WORKING WITH PRICING PHILOSOPHY RELOCATORS IN TRANSITION 20) BEYOND CLEANING AND 14) 6 WAYS TO DECLUTTERING: WHAT GET YOUR CLIENT IMPROVEMENT EXPENSES TO TRUST YOU MAKE THE MOST SENSE? www.
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Welcome Home:
Working with Relocators in Transition People stage moves for all sorts of reasons. From the joyous and pre-planned, to the unfortunate and unexpected, new chapters begin with the help of an agent. When you’re working with buyers from a different region, state, or country, the typical complications of a transaction can be compounded. So, what’s a savvy agent to do? For starters, envision the big picture. Relocators have extra obstacles between them and 4
their dream home. They don’t necessarily know which neighborhoods are ideal for their lifestyle, what they should budget for utilities, what type of homeowner’s insurance is ideal, or how they can tour, let alone close, on a house from afar. All in all, it’s a tall order, but if you can manage a relocation transaction successfully, you could tap into a sizable pool of clientele. Think of it this way: if you’re the shining star of a relocator’s moving process, their word-of-mouth praise could be
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exponential. Likewise, a winning reputation within that client’s corporate sphere could lead to lucrative, stable referrals and partnerships for years to come. Here are a few key ways to help clients navigate the relocation process with minimal stress and maximum results.
Create a full-scale timeline for you and your client that makes expectations clear. Moving is already one of life’s biggest stressors, but relocations have a dozen more moving parts that your average deal. Consider creating a master-plan of sorts to help you and your client visualize the steps required to achieve success in the midst of a relocation. Even from afar, your client will be able to refer to the roadmap you’ve set. Likewise, this makes sure you and your client are on the same page regarding expectations, timelines, and checklists. Assemble an articulated, overarching gameplan also helps demystify the process and lower stress. Instead of clients wondering what’s next, what’s needed, who to call, and when to be ready—handy guidelines of your own devising will be at their fingertips. Top Agent Magazine
Attune your communication style so that nothing goes overlooked or miscommunicated. Establish early on how your client prefers to communicate and which methods should be excluded. Also, make sure to outline what timeframes are ideal to communicate in, and how often they expect to hear from you with status updates or follow-ups. Some clients might prefer a more hands-off approach that lets you manage most details behind the scenes with updates only when progress is made. Most clients in the midst of a serious relocation, however, will prefer to be in touch more frequently. Customizing is key. If they prefer text messages and emails over calls, that’s a helpful detail to know from the outset. If they prefer face-to-face video chats or can only speak after business hours—those are also key parameters to work within. The less mystery and hassle, the better.
Be a local resource with vetted recommendations and vendors on-hand. Relocating homeowners may not know the best neighborhoods and their amenities, or where the best school districts are, which areas are high-traffic, or where their dollar might stretch a little further. Identifying your clients’ goals can help narrow this field, but you’ll also want to be careful not to overwhelm them with information. After all, they’re taking on a huge life transition and making a move as an outsider. You’ll want to serve as a onestop-shop who can remove some steps and stress from their organizational obligations. Have a contractor who can get a head-start on home projects while clients make the move?
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Excellent. Or, perhaps you can provide an out-of-state agent referral so that clients can sell their existing property in a timeline that works in conjunction with their new purchase. Make yourself a community expert and a connector, and you’ve won a client— and their referrals—for much longer than a single transaction.
Think outside the box when weighing variables. Relocations aren’t your typical transaction. You’ll need to do a bit more planning to avoid pitfalls along the way. For instance, have you considered how you’ll tour homes with clients if they live hundreds of miles away? Are there time zone differences to factor in?
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If clients are relocating from another country, are there any special visa or naturalization considerations? How will their belongings travel? Are there pets to relocate? There are plenty of questions to ask and plan for, but the key is to be communicative and thorough up front. The more information and planning time you have, the smoother the transition will go. There are certified real estate agent designations you can pursue that set you apart for your experience when it comes to relocations, but in lieu of those—arm yourself with the planning details and methods that will make your client a raving fan. In the process, you’ll up your game, create a happy client, and hopefully field similar business for years to come.
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LAYLA & MICHAEL DI MEO Top Agent Magazine
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The husband and wife team, Layla and Michael Di Meo are ranked among the Top 1% of agents in all of Canada for Royal LePage’s esteemed Chairman’s Club. Ranked among the Top 1% of agents in all of Canada for Royal LePage’s esteemed Chairman’s Club, Layla and Michael Di Meo have always possessed an entrepreneurial spirit. This husband and wife team would get their start in the hospitality industry, building a popular restaurant franchise in Windsor-Essex County and later taking on consulting projects for their local community college. After selling their successful franchise, the two decided to delve into 8Copyright Top Agent Magazine
real estate, drawing from their experiences as business owners and investors to establish a network of satisfied clients that spans the region. Today, Layla and Michael are Sales Representatives with Royal LePage Binder Real Estate, where they assist clients throughout WindsorEssex County. With Layla serving residential markets and Michael serving industrial and commercial markets, the two have cultivated a Top Agent Magazine
disticnt process to meet the needs of any buyer, seller, or investor. When listing a property, Layla and Michael take a comprehensive approach, broadcasting their listing over the regional MLS and a highly targeted blend of digital/social media campaigns. Layla and Michael help their clients fully prepare for the market, providing them with a suite of professional photography and videography
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services. They also give their clients an added advantage through proven resources like virtual tours to tell the distinct story of a given property and connect it to a diverse network of prospective buyers. Whether they are finding a strong price point for a commercial property or accentuating their residential properties with boutique marketing materials, they are there for their clients each step of the way, ensuring a seamless transaction throughout.
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Over the years, Layla and Michael have earned a terrific reputation both nationally and internationally, with the vast majority of their volume coming from repeat clients and referrals. Elsewhere, Layla and Michael are just as attentive when assisting their buyers, carefully guiding them to the right investment for their best interests. Better yet, they also run a prominent mortgage company in the Windsor-Essex area, which allows them to offer key insights into all aspects of the transaction. “Because of our entrepreneurial background, Michael and I are labor oriented before anything else,” Layla says. “From our forward-thinking approach to marketing to our community involvement, we’re always Copyright Top Agent Magazine 10
looking to think outside the box and truly make a difference.” Over the years, Layla and Michael have earned a terrific reputation both nationally and internationally, with the vast majority of their volume coming from repeat clients and referrals. Through it all, they remain very focused on the leading standards that have set them apart. “We’ve walked away from deals that we didn’t feel were right for our clients,” Michael says. “At the end of the day, Top Agent Magazine
they know we’re looking out for their best interests, rather than just chasing the commission.” Having recently built a new office in their community, Layla and Michael have exciting plans for the future of their business. As they continue to raise the bar of service in the Windsor-Essex area, they intend on expanding their services to provide a one-stop-shop for all their clients’ real
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estate needs. In the meantime, though, they look forward to all the new connections that await. “There’s nothing like the thrill of connecting a buyer or seller with a product,” Layla says. “More than anything, Michael and I are fully committed agents. We live and breathe our industry from the moment we wake up to the moment we go to sleep; and we love sharing that passion with our clients.”
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For more about Layla & Michael Di Meo, call (519) 903-4002, email michaeldimeo@royallepage.ca or Layla.dimeo@royallepage.ca, or visit windsoressexcountyproperties.com www.
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6 Ways to Get Your Client to Trust You The word “REALTOR®” can leave a sour taste in some people’s mouths. Many of today’s home buyers and sellers grew up during the 2009 recession. They are wary of anything 14
or anyone who comes off as too salesy, and they want to work with individuals who they can trust. But how do you prove to someone you’ve likely never met that you can be trusted?
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Put Testimonials or Case Studies on Your Website
When something goes wrong, own up to your mistakes. Don’t hide bad news from your clients. Be upfront and responsive.
Testimonials and case studies are social proof that you have both the experience and the skills to do the job your clients are hiring you for. People often leave testimonials when they are either incredibly disappointed or extremely happy with the service they were provided, so they’re a good indication to prospective clients of the treatment they’ll receive. Case studies, which you can post on your blog or website, have much of the same effect, but even more than testimonials, case studies demonstrate your real estate and finance expertise because they explain how you achieved a specific set of results.
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Be Responsive and Accessible
Can your clients reach you easily? That doesn’t mean you need to be available 24/7, but you should respond to your clients within a few hours of receiving their message. When agents don’t respond to their clients’ calls or emails for days on end or fail to provide them with a direct line of contact, their clients’ experience can quickly become frustrating. Agents are busy but so are their clients. If you constantly show up late to or reschedule meetings, your clients won’t feel like their time is respected or their business is valued. Make sure you set a realistic schedule for yourself rather than spreading yourself too thin.
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Be Honest and Transparent
Sometimes you don’t have the answer to a client’s question. Be honest about your strengths, weaknesses, and the limits of your knowledge. A good response might be, “I don’t know, but I can find out.” Be transparent with your clients, and they’ll respect you for it. You should always act in their best interest. Top Agent Magazine
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Go the Extra Mile
If you do the bare minimum, that’s what your clients will remember. Their experience won’t be memorable, and they won’t gush about you in online testimonials or in real life to people they know who could use your services. It’s that simple.
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Put Yourself in Your Client’s Shoes
Clients understand that you need to earn money, but that doesn’t mean they want to feel like they’re just a dollar sign to you. Be empathetic to your client’s concerns, even if you’ve heard it all before. Your clients should know that you are there for them.
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Be Consistent
Being responsive, friendly, and knowledgeable shouldn’t be an act. If you “turn on” your personality for clients and then suddenly become a different person when they leave the room, it’s likely that the cracks in your mask will eventually become apparent. But “faking it till you make it” is so common it’s become a cliché. When we are starting out, we don’t always have the systems or resources in place to create a smooth client journey, from onboarding to closing, so instead we constantly try to reinvent the wheel. Give yourself time to pause, slow down, and reevaluate your workflow. Creating systems creates
consistency, and those systems can and should be constantly updated.
Developing trust between you and your clients will take time, but doing these things can give you a running start.
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Developing Your Pricing Philosophy By Dirk Zeller
Ask a dozen agents to explain their home pricing philosophy, and you’ll
hear a dozen different approaches. And if the talk reveals frank responses, you’ll also learn that the most common pricing strategy is no strategy at all. Here’s my advice: Break out of the ranks by establishing and following a specific strategy for arriving at the ideal selling price for each home. Adopt the philosophy that, in real estate sales, price is king. Price trumps all other factors—including marketing approaches, home condition, market competitiveness, and sales approach. I believe that, in the end, marketing and condition of the property are controlled by the price. The alternative, advocated by many agents, most sellers, and even some sales trainers, is to emphasize marketing over pricing. Rather than working to set the ideal price, they believe success will come from optimizing the home’s condition and presentation and then marketing it with skill and savvy.
I take the opposite belief, based on years of experience working with sellers who wanted unrealistic prices for their homes and who experienced firsttime sales failures as a result. Over my sales career, I resurrected and re-listed more than 600 expired listings—nearly 75 a year. Among all those transactions, I never met an owner with an expired listing who thought that an unreasonable price had anything to do with the home’s failure to sell. They all blamed the previous Copyright Top Agent Magazine 16
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agent and that person’s approach to marketing. Each sought some magic marketing strategy to change the reality of the law of supply and demand. There is a magic strategy: Price the home correctly. Price is the only factor that can overcome sales obstacles, compensate for a home’s deficiencies, and motivate a purchaser even if the condition of the property and your marketing approach is less than perfect. Getting the listing at any cost Does this scenario sound familiar? An agent (usually a newer agent) is short on business or maybe even desperate for the chance to stake a sign in someone’s yard. The agent wants a listing at any price – even if the chance Top Agent Magazine
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to seal a deal erodes the likelihood of selling the property. To gain a seller’s nod of approval, the agent makes a flatteringly high pricing recommendation, throwing out a number the client wants to hear and then hoping something good will result from the bad situation. I can think of few examples, if any, where this philosophy works. Hope isn’t a successful pricing strategy. Worse, the please-the-client mindset is a hard one to abandon. Agents who achieve listings with unrealistic prices find it hard to later counsel their clients honestly.
If you take and price a good listing competitively, it will sell. You can’t keep a good price a secret! The pitfalls of a “please the buyer” approach are many and significant. By overpricing, you can practically count on a reduction in your productivity, profitability, and salability, and here’s why: It’s impossible to keep your productivity high when your time is spent in conversations with an unsuccessful seller who lacks motivation to take corrective action. The seller’s negativity, concerns, and phone calls will only increase with each week or month the house remains on the market. 18
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As time goes on, you’ll devote more and more time unsuccessfully trying to create a sale not only for your seller but also for yourself. This will pull you away from activities that are more likely to deliver income. The ensuing frustration will de-motivate you and stunt your ability to secure better appointments that create other income opportunities. An unsold, overpriced listing negatively impacts your profitability because it costs you time and money to service while it delivers no revenue to your business. And the situation only gets worse the longer the listing languishes on the market. You’ll end up deducting the expenses of this in-limbo listing from the proceeds generated by any revenue-producing deals you manage to close in the meantime, reducing your net profit and business success. Unsold homes that linger on the market seriously diminish your salability, which is the term that describes your sales success track. Your salability is based on such key statistics as your average ratio of listing price compared to sale price and the average number of days your listings are on the market. Obviously, these statistics, which prospects rely on when choosing one agent over another, can be crushed by a “get the listings at any cost” philosophy. They’re also harmed by the “start high and reduce later” tactic. If you take and price a good listing competitively, it will sell. You can’t keep a good price a secret! Dirk Zeller is an Agent, an Investor, and the President and CEO of Real Estate Champions. Copyright©, Dirk Zeller. All rights reserved.
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Beyond Cleaning and Decluttering: What Improvement Expenses Make the Most Sense? Decluttering open spaces, emptying cabinets and drawers and removing knick-knacks might seem like obvious – and free – ways to improve a home’s presentability. Unfortunately, however, not all sellers or agents are willing to do much more than decluttering and cleaning. Think of the listing as a reflection on yourself. If you didn’t comb your hair, shine your shoes, dress 20
neatly and drive a clean car, people would think you don’t care about yourself. They may wonder, “If he doesn’t care about how he presents himself, how is he going to present my house?” Likewise, not prepare a house for its most beautiful presentation might cast doubt on how the overall marketing will go. And, while not all changes will be immediately noticeable, chances are that what isn’t changed will be noticed.
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Ashley Aguilera, REALTOR®, broker and owner of The Aguilera Team in California’s Murrieta Valley and Temecula, says that after every consultation, her team formulates a game-plan. “We want to set their property apart from everything else on the market, but also fall within the comfort zone of the seller’s lifestyle,” she says. Changes may run the gamut from minor repairs and moving furniture for better flow, to adding accent pieces to harmonize the home’s look or create a “wow” factor before professional photography. Many agents recommend conducting a professional inspection prior to listing; some will even hire the inspector at their own expense. Of course, any necessary repairs found during inspection and not repaired before listing must be formally disclosed. But wouldn’t it be nice to have no surprises during the buyer’s formal inspection? In general, some improvements are required, others are low-cost and others pay for themselves
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with lower time on the market, competing offers or higher sale price.
Landscaping & Exterior First impressions begin outside. Be sure to mow and edge the lawn regularly; prune back overgrown trees and hedges; hire a professional to repair uneven pavement (especially if it’s a hazard); remove or replace dying annuals; and clean or repair porches or railings. Are there dry or dead patches of lawn? An inexpensive repair to the irrigation system might be the solution. While painting an entire house can be extreme, a wise investment is to paint trim, porches, steps or railings that may look tired or have too many colors; choosing a single, neutral color for trim can create a bright, cohesive look. Finally, check the roof, gutters and windows, looking for spots to caulk, shingles to replace, or debris to remove.
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Paint is extremely important if the home has faded or dirty walls, holes or chips on paint or plaster. If an entire paint job is not feasible, at least consider cleaning repairing the obvious and adding a fresh coat of semi-gloss to baseboards, moldings, windowsills, doors, banisters balustrades and built-ins. Don’t overlook the ceilings! A long-ago leak from a second-floor bathroom may have been completely repaired and moisture abated, but a patched-up ceiling is a red-flag.
Kitchens and baths
Walls, carpets, ceilings and trim Next, it’s time for agent and seller to open up to one another about the interior. Janelle Holte, who leads Seller’s Edge Home Team in the Minneapolis/St. Paul area, loves walking into a home knowing that her team will be the driving force behind selling it. “I like seeing how owners took care of it and raised their family in it,” she says. “But I won’t sugar-coat anything, so I tell them not to shoot the messenger!” She gives it to them straight, explaining what needs to be done to stage it to present well from a buyer’s perspective. Those changes often include repainting at least the primarily living areas and replacing carpet, especially worn carpet or carpet that has faded or stained beyond what professional carpet cleaning could remedy. Sometimes, all that’s needed is professional carpet stretching to remove any buckling prior to cleaning. 22
Most agents agree that the easiest costs to recoup in home improvements prior to selling are those spent in bathroom and kitchen updates. Complete remodels are unwise; you can’t anticipate the style preferences of their buyer. But refinishing, touching-ug up or painting cabinets can create a great impact, while also forcing the seller to remove unwanted or overstocked items from cabinets and drawers. Don’t forget the cabinet pulls – shiny, new nobs look nice. Lee Ritchie of Ritchie Realty Group in Columbus, Ohio, gives a reminder to discuss any and all issues up front. “People need to be able rely on the professional who’s presenting, pricing and marketing their home,” she says. An honest and diligent agent will be an open book about the current market conditions, the quality of comparable listings and the potential return-on-investment for improvements. Some agents, like Debra Dobbs of @properties in Chicago, even roll up their sleeves to help with decluttering and repairs. While not at all required or expected, doing so sure lets sellers see the investment their agent is willing to make for them.
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Laughs!
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