SOUTHERN FLORIDA 10-10-22

SOUTHERN FLORIDA EDITION

MY CRYSTAL BALL:

Is Finding a

NICHE MARKET

You CAN Predict You’ll Be Successful Selling Real Estate

Right for You?

BEYOND

THERE GOES THE NEIGHBORHOOD: How to List High When Neighbors Are a Nuisance

CLEANING AND DECLUTTERING: What Improvement Expenses Make the Most Sense?

COVER STORY

ILLANA COHEN

SOUTHERN FLORIDA EDITION

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ILLANA COHEN ILLANA COHEN

CONTENTS 4) 6 THINGS ALL SUCCESSFUL NEGOTIATORS DO 6) MY CRYSTAL BALL: YOU CAN PREDICT YOU’LL BE SUCCESSFUL SELLING REAL ESTATE

15) THERE GOES THE NEIGHBORHOOD: HOW TO LIST HIGH WHEN NEIGHBORS ARE A NUISANCE 19) BEYOND CLEANING AND DECLUTTERING: WHAT IMPROVEMENT EXPENSES MAKE THE MOST SENSE? 22) IS FINDING A NICHE MARKET RIGHT FOR YOU?

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

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

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

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

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

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

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

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

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

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

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

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My Crystal Ball:

You CAN Predict You’ll Be Successful Selling Real Estate ►Carla

Cross, CRB, MA

You can predict if you’ll be successful in real estate. It’s not what you think, either.

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Grab the best business start-up plan you can find and start the plan. Find someone to coach you to the plan.

What New Agents Expect From my survey of hundreds of agents under three months in the business, I found that more than 1/2 of them expected a sale the first month of the business.

What does that mean? When do they have to start looking for leads? That first week in the business! Yet, how many new agents start lead generating even in the first month? How long have you been in the business?

When did you start lead generating on purpose? Or, have you started? That’s why my book, Up and Running in 30 Days, now in its 6th edition, has you lead generating in week one. It’s your assurance plan you will get a sale fast and will stay in the business.

Expecting ‘Dumb Luck’ to Carry You to Success Inevitably, there is a new agent who has an Aunt Martha in his back pocket. That is, Aunt Martha wants to buy a home, and has told nephew Tommy she’ll wait until he gets his license to purchase from him. Ca-ching. Dumb luck. Tommy concludes that’s how the business goes. You just wait for someone to find you and Top Agent Magazine

sell them a home. We know that’s not the norm, though.

Unfortunately, Tommy’s going to wait a long time for that next transaction! The ‘dumb luck’ approach to the business results in low results. Since the ‘dumb luck’ agent isn’t doing a business start-up plan, we have no way of predicting results, because we can’t measure businessproducing activities. We can only measure other ‘dumb luck’ agent incomes. That’s way too late to actively coach–or to terminate with purpose.

Your Manager Could be a ‘Dumb Luck’ Manager– Pardon the Expression…

Dumb luck managers just look at results; sales and listings sold. So, they are not aware that agents may be failing for months. If new agents expect to make a sale in month one, how many months do you think it takes for them to get dis enheartened? 2-3? Not long. So, once new agents are mentally and emotionally out of the business, they will resist any help from managers. They’ve decided they can’t make it in the business. They’ll stay awhile, though, for ‘dumb luck’ transactions.

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Are You Lead Generating on Purpose?

Are you working a specific, prioritized lead generating plan? Is it made up of prioritized lead generating activities? Does it have ratios of activities to results, so the new agent knows whether he is on track to his goals?

Here are my activity ratios from Up and Running that will result in 8-12 transactions the first year in the business: • 20 contacts to get one buyer or seller lead • 8 times of putting people in the car to sell someone a home • 3 listing appointments to gain one marketable listing

• 80% of listings sell • 80% of transactions close What are the ratios in your office? Do you know? Do you know the work it takes to consistently generate the income you want to generate? Or, are you counting on ‘dumb luck’?

Best Advice to Create your Assurance Plan Grab the best business start-up plan you can find and start the plan. Find someone to coach you to the plan. Analyze your numbers frequently. You’ll stay on track AND assure your success.

https://carla-cross.com In the real estate business for over 3 decades, Carla Cross is an international speaker, trainer, and coach for real estate. She specializes in career development, business planning, leadership, and instructor development.

She’s won numerous sales and leadership awards in each area, including being named as a National Realtor Educator of the Year. A popular international speaker, Carla has spoken on leadership and training topics for 16 years at national Realtor conventions.

Author of eight books on real estate sales, her wildly popular book, Up and Running in 30 Days, is used by hundreds of thousands of new agents internationally to start their careers right.

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ILLANA COHEN

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Speaking multiple languages, including Spanish, French and Italian, Top Agent Illana Cohen is able to connect with a wide range of people in the South Florida market.

With a love of learning and a desire to carve her own path, Illana Cohen is thriving as a real estate agent in the South Florida region. Originally from Geneva, Switzerland, she was not a stranger to this industry. “Much of my family over there owned real estate, so I always heard about it,” she says. When she moved to 10 Copyright Top Agent Magazine

Florida in 2013, she was figuring out what to do next and met with a friend who was pursuing her license. “Knowing my background and my selling skills, she encouraged me to get mine as well and see where it went,” Illana explains.

Never one to do things halfway, Illana fully committed herself to this path, and Top Agent Magazine

saw her career take off. “I love it, it has just been amazing,” she says. An impressive 85% of her business comes from repeats and referrals as those who work with her love her honest approach and her responsiveness.

“I’m very genuine,” she explains. “I like to be direct, they appreciate that.” Illana listens to her clients’ needs and does everything possible to meet their goals.

Speaking multiple languages, including Spanish, French and Italian, she is able to connect with a wide range of people.

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She is also constantly pursuing education, earning various certifications to better serve her customers. Whether she’s finding the ideal home for her buyers or getting the highest offer for her sellers, Illana is known for always finding a way to make things happen. Her vast knowledge and experience in this field allows her to come up with creative solutions, thinking outside the box when it’s needed. After the transaction, Illana stays in touch, regularly meeting with her past buyers and sellers or reaching out on social media. With a strong following on Instagram, Facebook, 11 Copyright Top Agent Magazine

Illana is known for always finding a way to make things happen. Her vast knowledge and experience in this field allows her to come up with creative solutions, thinking outside the box when it’s needed. and LinkedIn, people never hesitate to ask her real estate questions online.

Customers leave glowing reviews about their time together. One recently said, “As an attorney of over 30 years in New York City, I have met many real estate agents through my business. Illana Cohen was by far one of the best that I have ever met.

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She assisted me through every step of the process, responded quickly to texts and telephone calls that I made and helped me get through what was a mostly unpleasant situation during COVID. She assisted and advised me throughout the negotiations with grace and style. A lovely person in any situation. I would give 6 stars if there were! Thank you so much.”

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During Illana’s off hours, she is giving back to the community through the brokerage’s charitable arm, Signature Gives Back. They are active in a number of nonprofit organizations, including Habitat Top Agent Magazine

for Humanity, Boca Helping Hands, and the local food pantry just to name a few.

Illana also enjoys spending time with family, attending Zumba classes, making art or going to museums.

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Looking towards the future, Illana hopes to build a team of people whose values align with hers. “I would like to create a group that is really looking out for the best

interest of the client.” For her, it’s all about bringing smiles to people’s faces. “I just love seeing people happy.”

For more about Illana Cohen, CIPS, PSA , SRS, RSPS, CPRES, Broker Associate, Executive Director of Luxury Sales, Vice President of International Division with Signature Real Estate Finder LLC, please call 561-406-9055 or email illana@signatureflorida.com, or go to FindMyHouseFlorida.com www.

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There Goes the Neighborhood:

How to List High When Neighbors are a Nuisance Troublesome neighbors are a relatively common issue that agents come across. You can control the image of your client’s property and you can control your listing presentation, but you can’t always control what’s happening on your client’s street. How do you diffuse difficult neighbors that could lower your bottom line or embarrass you in front of prospective buyers?

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First of all, it takes tact and a gameplan. With that in mind, let’s consider a few ways you can maintain a listing’s viability and competitive edge—even when bothersome neighbors are involved. Here are a few common neighborly scenarios agents encounter and how to diffuse them to your advantage.

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How do you diffuse difficult neighbors that could lower your bottom line or embarrass you in front of prospective buyers? It takes tact and a gameplan.

as a courtesy introduction to the neighborhood.

While it may seem like needless busy work, it can dramatically improve prospective buyers’ perceptions of the area. Plus, you may positively ingratiate yourself with neighbors in the area and demonstrate your above-and-beyond service to your clientele in the process.

Is the neighbor’s landscaping an eyesore?

Here’s your recourse.

Most towns and cities have established ordinances regarding yard upkeep. If any of the properties adjacent to your listing are wildly overgrown, littered with junk, or otherwise in a state of obvious disrepair—take it up with the city. Rather than get directly involved at first glance, you might loop in city officials whose job it is to monitor clean-up efforts on rundown yards and properties. If this doesn’t work, you may have to take a more hands-on approach.

Start by thinking small and operating from a place of authenticity and neighborly service.

You might explain to the neighboring tenant that you’re listing and offer to mow their lawn 16

Are there foreclosed or abandoned homes on your client’s block?

Do your homework.

It may take a little research and digging to figure out the banking entity that owns a foreclosed home, but it’s well worth the effort. Banks are typically required to maintain foreclosed homes on at least a basic level. If you’re worried about

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squatters, an unsightly façade, or general disrepair of a neighboring foreclosed property—go to the source. Sometimes banks take their time in hiring a third party to maintain a foreclosed property, but with some proactive prodding on your part, you may be able to speed the process along and resolve eyesores even before prospective buyers come calling. Remember: the squeaky wheel gets the grease. An improved bottom line will be your reward for those few prodding phone calls and emails.

Noisy, nosy, or annoying neighbors?

Don’t be discouraged.

Obnoxious neighbors can really rain on a seller’s parade, especially the kind of neighbor Top Agent Magazine

that takes their less-than-stellar behavior to their porch, front yard, or sidewalk. While this sensitive issue may seem daunting, there are a few official channels you can utilize to thwart the issue before getting personally involved. If the neighborhood in question is governed by an HOA, you might take it up with them. If the troublesome neighbor is harassing passersby or taking to the sidewalk—in other words, public space—then you may be able to involve local authorities in worst-case scenarios. Of course, it’s always possible to talk to troublesome neighbors faceto-face, but do so with caution and with safety as the priority. Always reason gently and empathetically, utilizing I... phrasing, instead of accusatory You... phrasing. After all, some neighbors are clueless about their impact on the neighborhood and may adjust their behavior after being called out. If the issue persists and no third-party authority can help, then you may have to disclose the neighbor’s issues to prospective buyers, depending on the disclosure laws in your region. While this may seem like a blow, you can at least rest easy knowing you pursued all the potential avenues for resolution available. Likewise, your client will likely appreciate your thorough efforts to resolve the issue.

While troublesome neighborhoods can bring down an optimistic mood when listing a property, sometimes being real estate is all about being resourceful. With diligence, digging, and a little follow-up, you just may be able to resolve some of the issues plaguing your neighborly plot.

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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 Top Agent Magazine

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.

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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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Is Finding A Niche Market Right for You?

A lot of Realtors® take the ‘jack of all trades’ approach to their businesses, and some are extremely successful with doing it all and doing it well. But taking that approach can also make it hard to stand out if there are a lot of agents in your area taking the same approach.

If you’re looking for a way to stand out from the rest, finding a niche market might be the way to go. Although it might sound limiting at first, with the right branding and marketing, your specialty and expertise may help you lock up a market after you become well known for being the ‘go to’ Realtor® in a certain demographic. Having a niche helps you target your marketing, making it more effective, until eventually people are seeking you out as you build your reputation as the foremost expert in your particular niche.

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Despite the benefits of taking on a specialty, it’s still something that only a small percentage of Realtors® do, which means you have a great opportunity to get in on the ground floor in your area by being ahead of what is sure to be a looming real estate trend.

You want to claim your stake on the niche that best fits not only your passions, but something that fills a void in your market.

If this all sounds good to you, the next step is finding your niche! Here are a few things you need to consider:

There are two approaches to having a specialty, one that is truly your all-consuming passion or a sort of revolving niche, one that changes with the market Top Agent Magazine

In addition to creating a thriving business, finding a niche may even unlock a hidden passion. Does your area have a large historic home inventory? Are you passionate about helping first time home buyers realize their dreams?

Having a personal connection to what you specialize in is always a great way to start out. If you’re passionate about something, you’re almost guaranteed to have the work ethic it takes to have success in a niche market. Once you hone in on a niche, make sure the market data backs up your focus.

Another approach is changing with the market. If you’re truly an expert in a few areas of the business, it might be good to have sort of a revolving niche. In a down market you might specialize in short sales and foreclosures.

When things pick up, you may take your innovative approaches and start applying them to luxury homes.

Whether you take the consistent niche approach or the flexible one, it’s really all about figuring out what best suits you and your market.

Fill a void in your market Maybe you don’t have an instant passion for one particular niche. In that case, there are several areas you can consider. A lot of it will start with really researching and analyzing your market and having a good eye for what future trends will be. Is there a certain demographic that is surging in your area? Cater your business to serve them. Maybe you are fluent in Spanish and your area is seeing a rise in a Latino population, who are emigrating from other countries. Or perhaps, you live in an area that has a larger retirement population. There Top Agent Magazine

are numerous demographics that truly need expert real estate advice. Be the one to fill it.

You can also focus on a particular neighborhood or gated community. Helping people navigate the ins and outs of a particular HOA can be a lifesaver.

Are you already serving a niche?

Of course, sometimes you may already have a niche and are unaware of it. Maybe you are already dealing with a lot of first-time homebuyers. Look over your sales records and see what might already be there, then make it official.

Figure out why you’re drawn to that area and then nail down the reasons you’ve excelled with that niche and use it to create a marketing plan and branding.

Find ways to really sell your expertise Once you figure out your niche, get the training, designations, and certifications that will enhance your expertise. Another way to let it be known that you are the ‘go to’ Realtor® in your particular niche is to become a resource online. Create a website with informative blogs and marketing information. Make a mark on social media where you can link back to your site, so potential clients can actually interact with you.

There is a lot to consider when you’re thinking of going the niche market way with your business, but if you consider everything carefully and focus in on something you can be passionate about, the rewards could be a major win for you and for your clients.

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