VIRGINIA 8-22-22

VIRGINIA EDITION

EMOTIONAL FLUENCY:

MILLENNIAL BUYERS:

Where They Are & What to Know

How to Communicate with Clients When Tensions are High

3 MENTAL TRICKS THAT WILL TAKE YOUR BUSINESS TO THE NEXT LEVEL

RECONSIDER REFERRAL-ONLY WHEN PLANNING FOR THE FUTURE

FEATURED AGENT

MARK TOMPKINS COVER STORY

COURTNEY MILLER

mailto:mag@topagentmagazine.com http://www.topagentmagazine.com

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3 Mental Tricks That Will Take Your Business to the Next Level It’s no secret that running a successful business requires careful planning and a tireless work ethic. Beyond those obvious ideals, it also takes the right mindset in order to capitalize on professional opportunity. In the world of real estate and mortgage lending, mental fortitude is a major component to reaching the next 4

level and achieving longevity in a sector that requires so much self-discipline. With that in mind, we’ve compiled a few key mental tricks you can employ to reinvigorate your working philosophy. Incorporate these techniques into your daily mindfulness routine and your business will surely benefit.

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Visualization helps you work efficiently and keep your cool.

This may sound like one of the oldest tricks in the book, but there’s a reason why Olympic athletes and those serving in first-responder positions use visualization as a time-honored mental technique. Not only does visualizing your daily tasks help you organize your mind, but it amps up your ability to focus on what’s important. Visualization also helps reduce stress in the moment, since you’ve already created a mental expectation of the task ahead. Whether you’re preparing for a negotiation or a pitch to new a client—visualization primes your brain and affords you an extra sense of control as you tackle your day.

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Distill concepts into their simplest terms for ultimate understanding.

As an agent or loan officer, you’re likely juggling numerous clients and commitments on any given day. That’s why it helps to distill your responsibilities in clear, definitive terms. Let’s say you have a meeting set with a client to outline a marketing approach for their property. You may understand the broad strokes, but beforehand, try verbalizing the exact takeaways you’d like to impart to your client.

This may seem obvious, but one of the best ways to clarify your communication and ensure your com-

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plete understanding of a subject is to explain it aloud in its simplest terms. This crystallizes your main point and can come in handy if you drift off-topic or need to double-down on your message.

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Accept that mistakes will be made.

While it’s natural to fear failure, sometimes the dread of making an error can overwhelm your ability to perform. As the saying goes: don’t let the fear of striking out keep you from playing the game.

If you accept in advance that set-backs will occur, challenges will come, and things won’t always go accordingly to plan—you’ll be less confounded when hurdles do arise. What matters is keeping an even keel as you sort through unexpected delays or mishaps. Accepting that mistakes will happen allows you to shift your focus towards a solution or contingency plan. In other words, don’t spend your energy trying to achieve perfection. Aim high and work hard, but be in touch with reality: upsets are bound to occur. Accept this and you’ll be ready when they do.

The path to lasting success is ongoing, and there are bound to be challenges along the way. It takes mental fortitude to make it to the top, so keep these tricks in mind as you continue to grow as a person and a professional. Seeing situations in a new light can make all the difference as you adapt, evolve, and take your business to the next level.

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Reconsider Referral-Only When Planning for the Future

A 100% referral rate is a testament of client happiness. But even a 30% referral rate is proof of client satisfaction. It’s all relative, say some agents. One number pays tribute to past success, which is certainly a story worth telling. But the other might better predict the future. Many agents plan for the idea that 6

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

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

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

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

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

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

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

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

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

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

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

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

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

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COURTNEY MILLER

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Top Agent Courtney Miller serves all cities in the Hampton Roads, Virginia area, with a focus on Hampton and Newport News. About 70% of her business comes from repeat and referral clients.

With a compassionate attitude and relatable demeanor, Courtney Miller puts her clients at ease and helps make their real estate experience as stress-free as possible.

Courtney came to real estate from a background in property management, working alongside a coworker who became her good friend and is now her business partner in real estate. With over 5 years in the business, Courtney draws on her experience and knowledge to help clients achieve their real estate goals.

Courtney serves all cities in the Hampton Roads, Virginia area, with a focus on Hampton and Newport News. “Hampton Roads is a military town, with people constantly moving in and out, but it is also a very tight-knit community,” Courtney explains. “It’s a melting pot, and even 10Copyright Top Agent Magazine

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though people move here from out of state or out of the country, we’re a friendly town and it’s easy for people to come here and make friends.” Courtney’s two main niche specialties are working with Top Agent Magazine

military service members and first-time homebuyers.

About 70% of Courtney’s business comes from repeat and referral clients, and that Copyright Top Agent Magazine11

“One thing I love about real estate is that a lot of my past clients turn into my friends,” Courtney says. “I have a great support system behind me through my past clients. They’re the ones driving my business, and I appreciate them so much.” figure continues to grow as more and more clients discover what a pleasure it is to work with her. “I try to give the best possible customer service to my clients,” Courtney says. “I am a responsive, full-time agent, and I dedicate my time to finding the perfect home for my buyers.”

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When it comes to marketing her listings, Courtney goes above and beyond. In addition to promoting on the MLS, she says, “I like to do a lot of Facebook marketing for my listings, because I get a lot of action there. I boost my listings on FB to get a lot of eyes on them, because social media is Top Agent Magazine

turning into a beast nowadays and I want my clients to benefit from that.”

Outside of real estate, Courtney loves to give back to her community. She is active in community service through her sorority, and likes to support local women’s Top Agent Magazine

shelters. When she isn’t working or giving back, Courtney loves spending time with her family and friends.

In the future, Courtney plans to continue growing her team and increasing her investments. More than anything, she Copyright Top Agent Magazine13

looks forward to continuing to form strong bonds with her clients. “One thing I love about real estate is that a lot of my past clients turn into my friends,” Courtney says.

“They even invite me to dinner, because

they are so thankful I was able to find them a place that they could call home! I have a great support system behind me through my past clients. They’re the ones driving my business, and I appreciate them so much.”

To find out more about Courtney Miller, call 757-871-9079, email cmiller.varealty@gmail.com, or visit zillow.com/profile/Courtney%20Miller%20VA www.

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Emotional Fluency:

How to Communicate with Clients When Tensions are High Managing emotions, expectations, and personalities are central to a successful real estate career. After all, this is a business based on relationships and interpersonal communication. Likewise, real estate is built on one of life’s central milestones—homeownership. This means that stress, disappointment, excitement, and competition are inherently Top Agent Magazine

involved in the process. As an agent, you take on the real estate world every day, but most of your clients aren’t well-versed in the norms of the industry and are likely riding an emotional roller coaster throughout.

Acknowledging this, how do you steer the ship when emotions and tensions are running high?

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For starters, it’s not always intuitive. Just like you add tools to your arsenal when it comes to marketing, social media, or lead generation, you also have to add emotional tools to your repertoire. Here are a few ways to diffuse tense situations and keep clients on an even keel—even during the ups and downs of the transactional process.

Create realistic expectations from the outset and reinforce them as you go As a seasoned agent, some aspects of the industry may seem run of the mill to you, but may come as a shock to your clients. That’s

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why communicating expectations from the beginning can help create reasonable touchpoints in the minds of your clients. In addition to talking through the steps of the transactional process with your clients, consider writing out a checklist or compiling a buyer’s guide that can serve as a resource for them throughout. Think of it like a security blanket, but one that’s built by facts, figures, and anecdotal experience. If you paint a clear picture of what to expect, clients are less likely to be taken by the surprise and react impulsively as a result. What’s more, reinforce next steps, expectations, and possible outcomes as you go. If your client is left to wonder or guess at what’s ahead or

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what will happen, they will either envision the worst-case scenario and panic, or they’ll misjudge the next step and be disappointed or left anxious as a result. Minimize surprises by communicating regularly, clearly, and with all options on the table.

When unveiling a problem, come to clients with potential solutions in hand Any agent worth his or her salt knows that bumps in the road are likely to occur along the way. You can’t promise a transaction free of stress or unforeseen issues, but you can minimize the ensuing stress by preparing you client in advance for any potential problems, and by addressing any problems

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clearly and with solutions already in hand.

Clients are likely to become agitated if a problem arises and they can’t understand why or what it means. That’s why slowing it down, talking it through, and offering potential avenues for recourse can quell fears and remind clients why they chose you to facilitate the transactional process. This means you’ll have to vigilant, proactive, and on the ball. Of course, it’s much easier to be an agent when everything is going great and flowing naturally. It’s when things take an unexpected or negative turn that true talent is really tested. Accordingly, show your clients that you are confident and in control by remaining adaptable, communicative, and clear in your problem-solving approach.

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Never underestimate the power of listening As an agent, you are probably well-versed in putting out fires and sourcing solutions. Sometimes, however, clients are really looking to you as a confidante and a listening ear. You’d be surprised how much nervousness you can resolve by simply offering a listening ear and offering reassurance. Sometimes it’s not about providing a band-aid or a practical solution; oftentimes, it’s all about listening. Clients need to feel like they’re being heard, even if you’ve heard it all before. By listening to their fears, acknowledging their perspective, and reiterating their goals—you display your empathy and understanding, which is often just what a client 18

needs to feel better. In other words, you don’t have to break out the graphs and data each time a client airs his or her insecurity. First, slow down, listen, and interact on a personal level. You may stop an emotional upheaval in its tracks simply by putting your listening cap on.

Not all clients are alike. Some will require a little more hand-holding than others, but it’s your job to put yourself in their perspective, recognize the milestone at hand, and managing the personalities you’re working with. The next time you feel frustrated by a client’s unpredictable emotional energy, keep these insights in mind as you diffuse the situation, steer them to a place of comfort, and fortify your interpersonal skillset in the process.

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MARK TOMPKINS Mark Tompkins of Bon Air, Virginia, brings the insatiably curious mind of a lifelong hobby hopper, paired with the hustle of a family man with three children, to the growing real estate market around Richmond. His thirst for knowledge, and the joy that he discovers connecting with mentors and communities around his hometown, form the foundation of his enterprise which, after sixteen years in the industry, is fueled almost entirely by referral.

By the age of twenty-two, Mark had already been attracted to the world of real estate: “I moved around quite a bit with my family – Indiana, South Carolina, Virginia – I sort of grew up around REALTORS®, and we had a lot of good ones. It was something I was curious about, and after interviewing agents in the Richmond area, I thought I would enjoy it.” Today, in 2022, Mark maintains a solid stream of business, securing award winning production accolades from both Long & Foster and the Richmond Association of REALTORS®, and he’s excited by what the future holds for his business and his city. “We’re growing quite a bit. It’s a diverse mix, and there’s an opportunity to accomplish whatever lifestyle you’re looking for: everything from rural environments to city streets where folks can ride their bikes everywhere.”

For Mark, Richmond’s vibrant community gives him opportunities to explore and challenge himself alongside his children. “A couple weeks ago we went to the Riverwalk Festival, and camped out near the dog frisbee jump. I love seeing all the vendors and folks out to support each other. One of our favorite events, which we just volunteered for, is the Richmond Folk Festival, I feel like all of Richmond comes out.” One

of his most challenging and fruitful experiences came when his son’s football team could not find enough coaches for the local youth league, and despite never having coached before, Mark stepped up to the proverbial plate: “It was a very eye opening experience for me. Putting yourself out there, especially when you’re not entirely certain, and then finding the reward of doing something new and being there when you’re needed is really important. Whenever I see a need in my community I’m pretty quick to jump on it.”

Mark addresses the needs of his business by leveraging his curiosity, and building connections with other agents in the community. “I spend quite a bit of time enhancing market knowledge. Calling other agents who had big wins in the area – I’ll call the buyers side and the listing side to learn what their experience was like. I build a lot of rapport that way, and once I get a listing, I blast it on social media, add it to Zillow, and do reverse prospecting, which is the process of connecting with REALTORS® whose buyer’s clients are listed as a potential match for my listing. It’s a great opportunity to raise awareness and set better expectations for my sellers.” His willingness to reach out to friends and strangers alike, and his sincere desire to learn about the lives of others and share in their accomplishments, has cemented Mark’s position in the industry. True to form, he attributes his success to the strengths of others, and looks for every opportunity to share the wealth: “I have extremely educated people around me – my lenders, my appraiser, title companies and attorneys – keeping those relationships strong is a big part of my success. I have a lot of clients who become new real estate agents; seeing that they ‘get it,’ and watching them succeed … it’s been such a joy.”

To learn more about Mark Tompkins, visit MarketRichmond.com, email Mark@MarketRichmond.com, or call (804) 347-3127 www.

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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 20

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 Top Agent Magazine

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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