TEXAS 11-14-22

TEXAS EDITION

MILLENNIAL BUYERS:

24-HOUR TOUCH-UPS to Maximize Your Price List

Where They Are & What to Know

Embracing Smart Homes

Does New Technology Really Increase Home Value?

COVER STORY

HOW TO THROW A CLIENT APPRECIATION EVENT NO ONE WILL FORGET

SHERRI MURPHY

TEXAS EDITION

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SHERRI MURPHY

CONTENTS 4) HOW TO THROW A CLIENT APPRECIATION EVENT NO ONE WILL FORGET

15) MILLENNIAL BUYERS: WHERE THEY ARE & WHAT TO KNOW

6) EMBRACING SMART HOMES: DOES NEW TECHNOLOGY REALLY INCREASE HOME VALUE?

20) 24-HOUR TOUCH-UPS TO MAXIMIZE YOUR LIST PRICE

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How to Throw a Client Appreciation Event No One Will Forget Clients are the foundation of any flourishing enterprise, and this is particularly true in real estate—an industry where relationships are central. Demonstrating your gratitude to former and current clientele is a winning way to cultivate your network, while upping your potential referrals and creating face-to-face time with the individuals that make your business tick. Keep in mind a few of the tips below as you stage a client event that will positively impact your brand, while conveying your appreciation to those who have driven your business all year.

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Supersize Your Guest List Inviting former clients to your client appreciation bash is only the first step in crafting your guest list. To really expand your sphere of influence, invite neighbors, local business owners and staff, old friends, family, associates, fellow alumni from your alma mater, and the like. Think of your client appreciation event as a celebration of business bringing people together. Expand your guest list and you’ll create a coveted, in-person opportunity to forge relationships and broaden your reach.

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An appreciation event may be geared toward your clients, but if done correctly it can also provide a fun-filled venue for your employees to enjoy a morale boost.

Consider A Sponsor Client appreciation events shouldn’t skimp on the details, but you don’t want to break the bank, either. To defray the cost of a client appreciation event, consider enlisting local businesses as co-sponsors. Not only does this approach ease the price tag of throwing a party, but it also creates an easy partnership between you and other entrepreneurs—widening your database and making for a memorable and generous event.

ship, or the Super Bowl is coming up quick, tailoring client appreciation events to already-established happenings can create an organic tie-in and boost your attendance numbers in the process. Throw a gingerbread house decorating party during the holiday season, or throw a barbeque during the Fourth of July. Capitalizing on a naturally occurring theme creates the opportunity for comradery between you and your guests.

Apply A Personal Touch

Don’t Forget To Reward Your Employees An appreciation event may be geared toward your clients, but if done correctly it can also provide a fun-filled venue for your employees to enjoy a morale boost, as well.

By encouraging your employees to cut loose at this celebratory event—instead of having them run interference all night—your team will feel appreciated and validated, too.

Theme Your Event Whether the area’s high school sports team has made it to the state championTop Agent Magazine

Invitations may seem like a small detail, but they shouldn’t be one-size-fits-all. Consider handwriting some of your invitations for the clients you remember well, or for business associates who you regularly partner with. Personalizing invitations to key players is the surest way to a confirmed RSVP. Cultivating your network of professional connections is an essential part of driving business, and client appreciation events not only create memories between you and your clientele, but also inspire your to step back, reflect, and give thanks to those who keep your business booming.

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Embracing Smart Homes:

Does New Technology Really Increase Home Value?

Technology and innovation move at a lightning-fast clip, so it can be hard to keep up with all the smart-home trends sweeping the market at a given time. From smart thermostats to security systems accessed through an app on your phone—there are endless options to customize and update your home for the modern era. But which, if any, of these smart home products add 6

value to property in a significant, worthwhile capacity? Especially with new generations of the same products released in quick succession, it can be hard to determine whether it’s worth it to take the plunge. With that in mind, we’ve conducted a deep-dive into the smart home options out there that make the most sense for your bottom line and real estate investments.

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Smart home amenities range in price and return.

There are certain smart home products that won’t break the bank while still adding lovely touches and time-saving features to your space. For instance, a smart thermostat may not run more than a few hundred dollars, but it can take so much of the guesswork and analog nuisance out of programming your home’s internal environment. That said, buyers selling properties with mid-range amenities like this can’t expect a windfall in return. While smart home features can certainly lure buyers and give the sense that a home is attractively modern (and thus move-in ready), it doesn’t mean that you’ll be reaping a sizable monetary reward for your foresight. Conversely, this reality doesn’t mean those smart options

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are without value entirely; it just means that the value of smart home options may be apparent in a different capacity, like luring a particular buyer or creating a desirable, sleek image for a property headed to market.

On the other hand, larger scale smart home amenities that are being left behind for the buyer—like a smart refrigerator or wired sound throughout the property—may be able to lure particular buyers who value high-end details. While it can be difficult to state definitively the value of smart home options, the rule tends to be that the more you put in, the higher the likelihood you’ll reap the investment you sow. Focus your smart home options on home appliances first, then work your way toward security, thermostat, and entertainment options.

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Smart home amenities capture the attention of buyers

Agents must know how to pitch the value of smart home options

Even if you have mostly opted for small or mid-range smart home options, you can still benefit from their presence in a property—even if they don’t inflate your bottom line as a result. Smart home amenities have the power to focus the attention of buyers, sending a clear signal that the previous owners were tech-forward and made an effort to upgrade the property for the contemporary era. Millennial or Gen Z buyers especially value these up-to-date modifications, and the presence of these desirable gadgets can create added interest and drive up value naturally. Likewise, featuring these options in listing photography can also drive interest from younger or high-end buyers looking for move-in ready spaces.

Remember that smart home features are relatively fresh to the market. While some new construction properties are equipped with these smart amenities, just as many homes on the market don’t offer these upgrades and modern flairs. This means that many buyers, of all ages even, aren’t familiar with the benefits and perks of these options, let alone how they’re operated. Before you can derive value from a smart home or smart home features, you’ll need to understand a product’s proper usage, cost, and benefits. Do your homework regarding what smart home features can offer in terms time or cost savings, and be able to show prospective buyers how easy these objects are to use, as well. Do both, and you’ll be in proper command of what smart home features can offer buyers and pitch them accordingly.

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SHERRI MURPHY Top Agent Magazine

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Top Agent Sherri Murphy is part of an award-winning team at Coldwell Banker in Southlake, Texas. They were recently recognized as the #1 Small Team for Gross Commissions.

Sherri Murphy always wanted to work in real estate from the time when she helped out on the job site with her homebuilder grandfather and uncle.

While she initially considered home-related careers in architecture or interior design, her parents encourage her to pursue a different career. Through the 10 Copyright Top Agent Magazine

years, Sherri gained a wealth of experience working as an asset manager with a PMI company handling foreclosed properties, putting together loan portfolios for Resolution Trust Corporation and working with a property management company. After taking time off to raise a family, Sherri returned to real Top Agent Magazine

estate as a listing and buyer’s coordinator before renewing her license and switching to sales in 2017.

When Sherri finally took the leap to become a full-time real estate agent, she hit the ground running. After closing her first deal in 30 days, she more than doubled her initial goal of $5 million during her first year in business with $12 million in sales. Today she’s part of an award-winning team at Coldwell Banker in Southlake, Texas. They were recently

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recognized as the #1 Small Team for Gross Commissions. Their sales volume has shifted over the past few years with fewer transactions completed but higher prices per unit accounting for continued growth. The team has closed $23 million in sales so far this year.

In her fifth year in business since being relicensed, Sherri is starting to see significant repeat and referral business and no longer needs to invest in lead generation. Her meticulous attention

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Sherri’s meticulous attention to details, personal connection with clients and proactive approach to guiding people through the entire homeownership process help her to stand out and keep clients coming back. to details, personal connection with clients and proactive approach to guiding people through the entire homeownership process help her to stand out and keep clients coming back. Sherri stays in touch with clients who become more like family and continues to serve them after closing, stepping into a real estate advisor role. One of the services she Copyright Top Agent Magazine 12

offers is personally delivering a full market report to clients on the anniversary of their closing so that they’re able to see how their investment is performing.

Sherri actively gives back to her local community, running annual blood drives and heading up a food drive last January to replenish area food banks after the Top Agent Magazine

holidays. Sherri is especially committed to organizations that support veterans; she also holds a Military Relocation certification through NAR.Recently, Sherri joined the Southlake Chamber of Commerce and is looking forward to increased involvement going forward.

The future of Sherri’s business includes exciting goals to diversify her business offerings and work with her children.

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There are plans to start a staging company with her daughter in the coming year and a possible purchase of a storage facility which would be available for client use during relocation. Sherri’s also looking at buying an AirBnB property so that she could offer clients temporary housing between moves. These initiatives will provide even more ways for Sherri to serve her clients while expanding her thriving business.

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Contact Sherri at 817.929.2059, visit SherriMurphyRealty.com www.

or email sherri@TheUltimateREGroup.com

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Millennial Buyers: Where They Are & What to Know Homebuyers and sellers come from all walks of life. If you’ve been an agent for long, you’ve likely worked alongside a wide variety of folks—from first-timer homeowners and down-sizers, to second home searchers and those finally hunting for their dream home. While there is hardly a shortage of diversity in the housing market, there Top Agent Magazine

is one generation that is making big strides in homeownership these days: Millennials.

Millennials can be loosely defined as those between the ages of twenty-two to thirtyseven. As you can see, this constitutes a wide swathe of the population. If you’re an agent who stands to learn a bit more about

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a demographic whose influence and homeownership goals are rapidly evolving, tune in below for a few pointers that can help you expand a segment of your clientele in the process.

Where do Millennials prefer to buy?

Many Millennials came of age during or immediately following the Great Recession, and as such, many of them relocated or returned to mid-size cities and smaller communities where the cost of living was most affordable. Of course, there are countless Millennials that call the U.S.’s major cities home—especially those in the

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tech industry. The good news is that you can court Millennial clientele no matter where you service area is located. That said, community amenities are of great importance to this generation. They value public transportation, green space, and entertainment—from coffee shops and topnotch restaurants to farmer’s markets and boutiques. Emphasizing those attributes will be key in selling to Millennials and locating neighborhoods they’re most interested in.

What sort of communication do Millennials prefer?

Most Millennials are digital natives, or close to. That means they grew up learning

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how to navigate digital spaces, and prefer to communicate through mediums like email, text, and social media. This isn’t to say that Millennials aren’t good communicators, but they’re often on the go, and have learned to research and shop online. To accommodate this, it’s best to build a presence across the most popular listing portals and social media platforms. Although, it’s not enough to establish a site and wait for the calls to come in. Responsiveness is a key factor for Millennials, who expect speedy response times. Make sure you’re checking your inbox frequently, responding accordingly, and engaging with your audience online. This will let Millennials know

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that you’re savvy, available, and understand the value of their preferred method of communication.

Are Millennials ready to buy?

It’s a common misconception that Millennials are uninterested in the rite of passage of purchasing a home. While Millennials maybe waiting a bit longer than their parents did to buy a home, there are good reasons to explain this phenomenon. For starters, Millennials entered the job market during the downturn, which means they are more conservative when making big purchases, and have to play catch-up to reach a sound

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financial position. Likewise, student loan debt has proved a major financial inhabitation for Millennials. Instead of socking away a few hundred a month to save for a home, they’re forking over that cash to pay down their educational loans. How does a Realtor compete with this reality? For starters, a bit of understanding goes a long way. Work with your mortgage partners to find financing possibilities that cater to this younger demographic. Recognize that Millennials—like most buyers—have some trepidations when buying a home.

Also consider fielding Millennial clientele with the long view in mind. You might be 18

courting them for months or more until they’re ready to take the plunge, but they’re also famous for their reviews. When a job is done well, Millennials shout it from the rooftops—or at least share it a dozen time from their phone.

As time passes, Millennials will continue to dominate the marketplace when it comes to buying and selling homes. A little self-education on this powerful demographic can go a long way. If you know your clients and your audience, you’ll be in a far better position to serve their interests and make a customer for life.

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24-Hour Touch-ups to Maximize Your List Price Sometimes it takes a full-scale overhaul to prepare a house for market. Other times, only a series of small adjustments are required to make a listing’s true potential shine. Whether you’re gearing up for an open house, assessing a list price, or maximizing a property’s appearance prior to photography—the devil is in the details. However, touch-ups and refreshes don’t have to dominate your schedule or break the bank. For a few ideas of where 20

to begin, consider our handy check-list below for quick home projects that will fortify your bottom line.

Refresh grout for a sparkling clean look.

Perhaps the quickest and most cost-effective way to make bathrooms, kitchens, and other tiled areas shine is to refresh grout until it looks

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good as new. Specialty grout stain removers and cleaners are inexpensive and sold at most home improvement stores. Plus, the project only takes a bit of elbow grease and an hour or two for a major makeover effect. Suddenly, dark, stained, and worn-down bathrooms gleam as if tile has just been placed.

Create mood lighting with soothing bulbs and fixtures.

A warm white light from specially chosen LED bulbs creates a welcoming environment when potential buyers come calling.

If outdated fixtures are bringing down a home’s otherwise modern styling, consider more design-neutral replacements that won’t

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detract from the property’s charms. These are inexpensive but highly noticeable and impactful upgrades that shift a home’s ambiance for the better.

Repaint doors for an updated and inviting entryway.

It may sound like a hassle, but repainting doorways with a fresh coat signals a wellkept property—and that’s before prospective buyers even pass through the threshold. You can also change out generic doorknobs and switch-plates to add an updated flare while on a budget. Color-of-the-year trend choices can turn heads, while neutral paint choices signal less hassle for future homeowners.

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scrub, or with the addition of new shelves or styled bulbs.

Make windows shine— both inside and out.

Cleanliness goes a long way in communicating a well-cared for home in which buyers can imagine themselves. Cleaning the inside and outside of windows not only refreshes a room, but it allows light to infuse the space while appealing to the move-in ready crowd.

Closet spaces are not an afterthought.

Every prospective buyer wants storage options, and you’ve surely led a home tour where guests inspect closets and pantries.

Don’t let these hidden spaces go overlooked. Make sure they’re clean, cleared as much as possible, and you can even touch them up with fresh paint, a good

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Remove tough appliance stains with a bit of elbow grease.

If you’re packaging appliances with the sale of a property, you’ll want to make sure those big-ticket items are also in top shape to showcase their value. Stainless steel polish, electric cooktop polish, and stain removing pads for the kitchen sink can make your appliances look five years younger with nothing more than an hour or two’s labor.

Organize garage and basement areas to maximize storage and hint at bonus space.

It may take a labor of love, but organizing and decluttering these special storage spaces

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can add significant value to a property. Instead of telling prospective buyers how much storage space there is—let these areas speak for themselves by giving them a neutral, airy bout of cleansing. That way, craft-lovers, car aficionados, and buyers with interest in renovating basement areas can witness the potential immediately.

Individually, these bit to-do list items might seem like extra work without the promise of Top Agent Magazine

a major return. But combined? These small tasks go a long way in crafting a home’s image and projecting pure potential. After all, prospective buyers imagine their lives unfolding inside those walls. That’s why cobbling together these small-scale projects can have a big payoff in the end. Not only will a home present itself in a cohesive, attractively-packaged form, but it can also translate to higher interest and a significant pay-off—in more ways than one.

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