TORONTO 11-21-22

TORONTO EDITION

7

Reasons Why Your Prospects Aren't Turning Into Clients

COVER STORY

RONN GULATI

Is Branding the Way to

TAKE YOUR BUSINESS TO THE NEXT LEVEL? Playing the

REAL ESTATE MATCHMAKER

FEATURED AGENTS

LISA MARIE DOOREY & LINDA CHU

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7 Reasons Why Your Prospects Aren’t Turning Into Clients Real estate experts suggest prospecting daily so that your sales pipeline never runs dry.

But sometimes all that effort doesn’t translate into results. If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

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1. You’re Too Slow The Association of Real Estate License Law Officials estimates that there are about 2 million active real estate licensees in the United States alone. Of course, not all these individuals are working in the same markets. Nonetheless, that

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If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

means that realtors face a lot of competition. If you are slow to respond to messages from prospective clients, someone else is sure to beat you to it. As a rule of thumb, it’s best to return calls and emails within 24 hours.

If you’re too busy working with active clients to return the phone calls and emails of prospective clients, consider hiring a real estate assistant who can help take administrative or marketing tasks off your plate.

2. They Don’t Trust You There are different reasons why a client might not trust you, some of which overlap with others on this list. When a client asks you a question, do you answer it directly or do you sidestep it?

Do you have testimonials and reviews from happy clients publicly available? Do you have an online presence? Social proof of your skills and knowledge is key.

3. You Don’t Seem Knowledgeable Enough Is your client constantly coming to you with new listings or marketing ideas rather than the Top Agent Magazine

other way around? Do they mention real estate and finance terms you’ve never heard of or ask you questions you’ve never thought to ask yourself? Every agent starts somewhere, but if this seems to be a pattern, it’s one clients will pick up on too.

Your clients want to know that you will add value to their home buying or selling experience, and part of that value is your expertise and passion.

4. You Have No Web Presence It’s not enough to be on Zillow or have a Facebook page. There are clients who don’t use these platforms, and at the end of the day, you don’t own the content or your access to it. Both platforms could suddenly go out of business and any following you’ve gained could be lost.

It doesn’t cost much to create and maintain a website today. If customization matters little to you, sometimes you can even get up and running for free. At the very least, it’s a good idea to invest in a domain name because yourwebsite. wordpress.com looks a lot less professional than yourwebsite.com.

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5. You Don’t Seem to Care When clients don’t think you care, it usually means they don’t feel like you are listening.

You may have systems, processes, and a proven marketing strategy. You may like to get right down to business, but to your client, this isn’t just business—it’s their life and their family’s livelihood.

When your client tells you what’s important to them, they want to make sure that you really hear them. Make sure your body language conveys that. Slow down. Shut your office door.

Make eye contact, nod your head, and pause before you speak so that they understand that you’ve put thought into your words—that they aren’t simply lines from a script.

6. You Use Too Much Jargon Remember that your clients don’t speak real estate. At most, they might buy or sell a home once every few years. They hired you to be their advocate and may even expect you to be a bit of a teacher too. Use layman’s terms so that your

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client fully understands how the two of you will work together.

7. Your Target Audience Is Everyone Your clients are home buyers and sellers, yes, but who is your ideal client? Some specialties you might consider are college students and recent graduates, working professionals, military families, seniors, CEOs, or other high-profile clients.

As a newer agent, your target audience might be anyone who will hire you, but over time, you might find that you click more with certain clients, that their lifestyle is similar to yours, or that their goals align with your mission. Whatever the reason, marketing your business to this “ideal client” rather than every potential client will make selling your services easier.

Remember: It’s within your power to alleviate your client’s concerns, but understanding why your prospects aren’t turning into clients is a good start.

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RONN GULATI

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Top Agent Ronn Gulati leads a 5-person team at EXP Realty, serving the greater Toronto area specializing in the Western GTA, and have become a prominent group in the region.

Even before moving to Canada from India in 2019, Ronn Gulati had made up his mind to take up Real Estate Sales as his only and full time career. “It was a tough decision to make, considering the failure rate and huge competition in the industry, but I truly believed in the immense opportunity and growth potential Real Estate offers for both a career and investments,’’ Ronn explains. “So at the end of 2019, I earned my real estate license.” He hit the ground running in 2019 and very soon Covid hit which changed the business in many ways.

He found his niche in the first time homebuyers and new immigrants, as he feels he understands their unique needs and hesitations. “I know what they’re looking for and how to make their home buying experience less stressful and more enjoyable,” he says. Within the first few months of his career, he was involved in all types of real estate transactions, including commercial 8

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and pre-construction. He completed $70 million in sales volume in his first year, and was head of two projects that sold around $180 million in real estate in 4 months. Ronn won the ICON Award for 2021 and is close to winning it again in 2022.

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Today he leads his own team at EXP Realty, which includes five total members. They serve the greater Toronto area, specializing in the Western GTA, and have become a prominent group in the region. Ronn utilizes his vast knowledge and negotiation skills to

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Ronn utilizes his vast knowledge and negotiation skills to reach his clients’ goals. “I consider ourselves consultants because we deal with a lot of newcomers and first time homebuyers, they all need knowledge and information. reach his clients’ goals. “I consider ourselves consultants,” Ronn explains. “Because we deal with a lot of newcomers and first time homebuyers, they all need knowledge and information. So we focus on giving that to them.” Ronn and his team work tirelessly to ensure each and every person they serve understands their options and is prepared to make informed decisions about their next steps. Focusing on helping resale customers, 10

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Ronn feels incredibly grateful to walk with them through their transactions and set them up for success.

The process starts with a consultation meeting, where Ronn and his team sit down with a potential client and discuss their needs.

“These meetings can take a couple of hours, most clients are surprised at how detailed and thorough we try to be,” Ronn says. Ronn Top Agent Magazine

will help them with all the information they would need before buying or selling. “In that meeting they can share their finances, needs and goals with us, so we can clearly determine if they are making the right move.” If it ends up being the best path for them, Ronn will then set out to achieve their desired result, whether it’s selling their home for top

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dollar or getting them their dream property at the perfect price.

One recent client said, “It was a pleasure working with Ronn from day one. As an introduction, he set up a Zoom call with me where he walked me through the entire home buying process & answered all my questions

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in detail. Throughout the process, Ronn was always a message and a phone call away. He performed meticulous due diligence on the properties that I was interested in. I am glad I reached out to Ronn & chose to work with him while embarking on the journey of buying my first home. Rest assured, Ronn always has the best interests of his client in mind.”

As Ronn looks towards the future, he is eager to continue growing his team and reaching new heights. He can’t imagine a more rewarding career. “Real estate is my passion.

The relationships I have made doing this are like no other. I plan on doing this for the rest of my life.”

For more about Ronn Gulati, please call 647-325-4557 or www.instagram.com/sambazzy1/ email ronn@rhrealestateteam.com

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How to Speed Up First-Time Homebuyer Transactions Working with first-time homebuyers can be among the most rewarding real estate transactions an agent can embark upon.

Not only are you helping guide newcomers into the housing market, but you’re also witness to the excitement and triumphs along the way, including handing over those keys for the first time. While Top Agent Magazine

helping first-time homebuyers navigate the transactional process can be a reminder of real estate’s benevolent power, it can also come with its own bumps and bruises.

So, what’s the best way to streamline the homebuying process for first-timers, while maintaining the magic and keeping your sanity along the way?

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While helping first-time homebuyers navigate the transactional process can be a reminder of real estate’s benevolent power, it can also come with its own bumps and bruises.

Set expectations upfront and often.

It’s no secret that communication is a cornerstone of a successful real estate practice and client relationship. Amidst a transaction as complex as buying (or selling) a home, it’s important that no wires get crossed, no questions go unanswered, and no information gets lost in translation. To accomplish this, create communication parameters with your clients up front. Inquire about the communication medium they’re most comfortable with—a text, a call, an email, etc.

Then, tailor your outreach accordingly.

Also, consider setting a weekly time to check in, even if no official progress has been made. This helps clients and agents touch base, float questions and concerns, and get ahead of any problems or developments. Another helpful tool is to draft a transaction timeline for your client that outlines the major milestones along the way, what sort of information will need to be gathered, what steps taken, and what outcomes are possible. This might seem like exhaustive work, but in the era of digital research, clients will come to their own conclusions and biases 14

whether you like it or not. To stay on the same page and timeline, be the foremost resource for your client, and don’t leave their questions up to chance.

Know your first-time homebuyer programs and perks.

There are a variety of national, state, regional, and local grants and programs that aid first-time homebuyers as they pay their down payment, shop for home or mortgage insurance, and otherwise deal with the financial implications of becoming a homeowner. Sometimes these programs are neighborhood-specific in certain cities, with incentives to buy in up and coming areas. In some cases, there are grants that support underrepresented minority communities breaking into homebuying, and these can go a long way in making the burden of a down payment and associated fees doable. In other words, do your research.

The right program or grant could make the difference in nabbing a dream starter home for your client, while setting them up for future financial success.

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Get pre-approved for a mortgage—and shop around for the best rate.

Not all mortgage rates are made equal. As an agent, you likely have good relationships with area lenders that you trust, but it’s still important to complete your due diligence when helping first-time homebuyers find the rate that suits their longterm housing goals. Also remember that first-time homebuyers are new to this process, and while real estate transactions are complex in their own right, the borrowing and lending processes can be alienating in their complexity. As an agent, it’s your job to play intermediary and teacher, ensuring your clients know their options, are prepared to make an educated decision, and

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feel confident that they’ve chosen correctly. Talk with your preferred mortgage partners to best outline options for your clients’ understanding, laying out a framework that’s informative, projected into the future, and allows them to feel empowered by knowledge.

All in all, working with first-time homebuyers can be an exciting and joyous occasion, as long as you’re adequately prepared for some hand-holding and instruction along the way. Aside from the enthusiasm of successful first-timers at the closing table, you’ll also enjoy the lasting benefit of strong referrals to their friends and family, many of whom will be shopping with you for their own first dream homes.

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LISA MARIE DOOREY & LINDA CHU

Lisa Marie Doorey brings to Toronto real estate her eye for setting a scene and an international savoir faire. However, it is her ease of open communication with clients that keeps customers returning to the downtown specialist. Working alongside her partner Linda Chu at Sotheby’s International Realty Canada they market some of the finest homes in downtown Toronto with a focus on personal service. “I make a lot of phone calls; I’m a little old fashioned that way,” Lisa Marie says.

As a teen, she would spend evenings admiring the decor and gardens of homes she passed, walking through her neighborhood. Lisa Marie’s journey would take her to living abroad in her twenties, returning to Toronto obtaining her Real Estate license, finishing a degree in film, owning a popular cafe in the Annex and witnessing multiple major real estate cycles. While at Sotheby’s, her love for film drew her to fellow broker Linda, who was on the Board of Directors of the Toronto International Film Festival, and the two became lasting friends and business partners.

buyer’s agent with a commercial leasing background. The team has ties to Yorkville / Annex luxury real estate and Cabbagetown with its density of Victorian homes along with serving the downtown market. As the team has grown, so has its hold on the market, with about 60 percent of annual sales coming from repeat or referral customers. “I think it’s about care,” Lisa Marie says. “You just really have to care about your clients. And if you treat them well, there’s a natural succession of them treating you well in return. We’re very, very grateful to our client base.” Lisa Marie attributes much of her current success to the marketing power of Sotheby’s International Realty. “We do all the regular

Lisa Marie and Linda lead a dynamic team of four including a former designer, licensed client service manager and a Mandarin-speaking 16

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newsletters, flyers, social media and local marketing, however to give our client’s homes, in all price ranges, a platform and level of luxury service unlike any other, we joined Sotheby’s. With over 1,000 offices in 70 countries and $114 billion in global sales, the infrastructure is already in place to present clients’ homes in their best light worldwide. Our relationships with agents around the world are also a great advantage.”

Both Lisa Marie and Linda are civically engaged with the communities they serve. Linda sits on the Board of the Asian Real Estate Association, ABCRA the local Yorkville residents’ association and formerly on TIFF and the YWCA Boards.

Her commitment to the community extends to many arts organizations and local charities including the Yorkville Run. Lisa Marie contributes to the YWCA, CAMH, World Vision and the Red Cross and is taking her community involvement further to address homelessness. This fall, Lisa Marie will support Covenant House, an organization that fights youth homelessness and human trafficking by spending a night sleeping on the street with corporate executives to draw awareness to these issues. “I think it’s going to be a life-changing experience,” says Lisa Marie, who was introduced to Covenant House by one of her real estate clients.

Lisa Marie and her team continue to thrive in the Toronto market with the Sotheby’s brand and a tradition of customer-first service. They are even redecorating their office to reflect the new vitality that charged through the brokerage after the pandemic. The lamps and wall hangings may be new, but clients can count on the personal attention they are known to offer. “I’ve owned a restaurant, sold film and television internationally and then I came back to real estate, which was my first love,” Lisa Marie says. “I think the main thing about real estate is that you’re dealing with people at important times of their life, often in high-stress scenarios. I think having compassion, determination and years of selling skills to help people transition through life change is really at the core of what the business is all about.”

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To learn more about Lisa Marie Doorey and Linda Chu visit DooreyChuTeam.com www.

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Playing the Real Estate Matchmaker –

Follow These 8 Dating Rules to Ensure You Match Your Client with the Perfect Home for Them When you think a bit more about it, the ultimate goal of a real estate agent serving a client is really to match them up with the perfect house for them, almost the way a matchmaker tries to find two people that will fit well together as a couple. When people are looking for a house, they often treat the process as a quest for “the one” house that will fulfill their dreams of living in the house of their dreams. Don’t be fooled. It is always a search for “the one”, at least when it comes to helping a couple or family find a home.

When you look at your client’s search for a home in this manner, then you might begin to notice some pretty obvious similarities Top Agent Magazine

between shopping for a home today and online dating. In this day and age most people live a substantial part entire lives online. People socialize with their friends on Facebook, they meet potential friends in forums and online communities, and we now even search for our perfect mate online. Shopping for a home also happens to usually start online. When they begin this search, make no mistake; they are looking for the “one.” These people then turn to you, the REALTOR® to play matchmaker for them. It is your job to wade through the pool of eligible homes (bachelors) and sort through all the ones that are too expensive, too nerdy, not cute enough, not smart enough, etc. until you find the “one.”

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It makes sense then to consult the tried and true practices in matchmaking that help those professionals find the right people for each other, and see if any of them could also apply for matching your clients with their dream home. You’ll find that these 8 dating rules may just show you the secret to matching your clients with the perfect home.

back to the store if you’re not happy with your new home. It’s best to first help your client get prequalified. This is a tangible step that shows they are ready to move on to a new home. You want to make sure they are completely over their love affair with their previous home. You can even ask them for a sign or proof that they’re ready to move on.

Who Is In and Not In Your Client’s League? Know Your Client’s Price Range:

Be Genuine, Not Superficial

When a person is looking for a mate, it is a waste of time for them to even consider those potential mates that are clearly out of their league. These people won’t even stop to give them the time of day.

In the world of real estate the idea is the same. There is no point showing your clients houses that they can’t afford and will simply lust after without having any real chance of purchasing the house. It is your job to keep your client ground in reality, and help them be realistic in terms of price when choosing their next home.

Never Let Your Client’s First Impression of a Home Rule Their Decisions

Make Sure Your Client is Ready to Move On From Their Last Dream Home You’re job is also to make sure that your client is truly ready to move on from their previous home. This is a long term commitment, and they need to be absolutely sure they actually want to buy a new house. You can’t simply take the receipt 20

When trying to manage the many pitfalls of online dating, on inevitably goes on a date where the other person looks nothing like their picture online. That can be just as big of a problem when looking for a house. When clients show you a particular house they want to visit, ask them to name something about the house that they like other than the aesthetics. This way you can see if they are simply infatuated with the way the house looks in those pictures, or if there is a deeper interest in the home that could become a deeper connection between your client and the house.

When your client first sees a house they have already been lusting after in their mind, they’re often so excited to finally be looking at it, especially if it does in fact look as good as it did in the pictures.

Make sure to encourage them to take some time before making such a big com-

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mitment, and don’t let their excitement push them into making a rash decision. It is your job to keep them grounded in reality. Push for your clients to do an inspection to make sure the house isn’t hiding any dark secrets. Sometimes the most charming facade can hide tons of slime and deadly mold.

Follow Your Heart (or Gut) People often laugh at and ridicule the idea of love at first sight, but when it comes to homes, the phenomenon can certainly happen. Your client may just find their perfect dream home at the very first place you take them. If you have a client that does insist this is the case, then you don’t want to try and rationalize with them or talk them out of their decision. You do, however, want to make sure you are watching out for their interest and make sure your clients take all the necessary precautions before they jump in headfirst.

See What Other People See in The Home – Do They See What Your Client Sees?

Have you come to the conclusion that your clients are being blinded by all of the twinkling windows and crystal clear water glistening in the backyard pool, and can’t see that the house they’ve fallen in love with is really just a dirty animal (maybe a pig) dressed up in nice clothes and lipstick. Ask your client if they would be willing to look at the house again with Top Agent Magazine

their close friends, family, and anyone else they trust for a second opinion there to see it with them. If the house really is a dud, they’ll be able to see past any personal bias your client might have to the truth. They will be able to help your client see through the shining facade

Celebrate the Happy Union!

When a couple gets married they tend to throw a big party and celebrate their union. The same goes for the closing.

Your clients have just essentially married the house of their dreams, and now it’s time to rejoice. Congratulate them on their new union. Show your support for their new homeowner status by going to their housewarming party.

Help Your Clients Maintain Their Dream Home & Ensure a Lifetime of Happiness You can’t just disappear after the transaction is finished. Become their realtor for life by showing your clients how to maintain their dream home. Act as their resource for other professionals they may need to maintain the house such as handymen, plumbers, electricians, etc. Show them how to keep up with home maintenance so they don’t ignore problems that surface and end up with a much larger issue than they started with. Help them make sure their dream home lasts so they can live happily ever after in their home for a lifetime.

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Is Branding the Way to Take Your Business to the Next Level?

Despite the importance of finding a Realtor® that is the best person to serve their needs, a lot of people only end up interviewing one Realtor® when they’re thinking about buying or selling a home. A lot of times people make that decision based on a referral, but why not do everything you can to be the name they think of when they make the decision to hire a real estate professional outside of referrals? Especially if you’re starting out and haven’t built up any repeat and referral business yet.

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When you want to make your name synonymous with real estate transaction success, you might want to consider branding yourself. Personal branding, long a staple of Corporate America, is also an invaluable tool for those in the real estate industry as well. Understanding branding and being consistent about it, is one way to insure you’ll have a successful and long-lasting business. It’s up to you to make consumers think that their success in real estate is dependent on finding the perfect agent—YOU. Top Agent Magazine

SO WHAT EXACTLY IS BRANDING? Branding is a long term marketing strategy that builds your carefully crafted image over time through consistent repetition. A common misperception about branding is that it’s is the same thing as marketing. While the two go hand and hand in many ways, branding is specifically about creating and reinforcing the perception of not only who you are as a person, but what your business values are, and getting that out to the world in a consistent way Everything from your logo, to your website

to your social media presence, should all line up and reinforce your brand. It’s that repetitiveness that will hammer home the perception you are trying to create. Your brand informs your marketing, while your marketing strengthens your brand. Of course then you have to do is make sure your service lives up to what you’re selling. Getting them in the door is one thing, but you’re in it for lifetime customers and referrals.

Every brand is strengthened when it is built on a foundation of integrity and trust.

CREATING A BRAND Although it might take time and money upfront to get it right, branding is almost guaranteed to pay off in the long run. But branding is more than just having a graphic designer come in and make a logo. Consider branding more of a promise to your clients and potential clients, succinctly stating the value and expertise working with you will afford them. There are clear, tried and true methods to creating your branding. Because you have to go all in on the way you want to brand yourself, it’s important to evaluate fully before you make the leap.

This all starts with an honest assessment of your business and where you want it to go, including how much time and money you’re willing to invest to get there. After that you may want to add focusing on a niche market to your branding. Regardless of whether or Top Agent Magazine

not you have a niche, another important part of branding is coming up with a memorable tagline that sells your brand or niche. All of your graphics, picture and information, should be consistent across all social media platforms, marketing materials, advertising and websites.

If you are interested in branding yourself, there are numerous books on the subject that will give you an in-depth tutorial on the process and the steps you need to take.

But what it basically all comes down to is commitment. Find a brand that is true to you, one that you can commit to performing and then back it up by not only meeting, but exceeding what you promised.

If done right, soon you’ll become an in-demand agent whose name is synonymous with success!

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