WASHINGTON 8-8-22

WASHINGTON EDITION

5 SOCIAL MEDIA MISTAKES REAL ESTATE AGENTS MUST AVOID

HOW TO SPEED UP FIRST-TIME HOMEBUYER TRANSACTIONS

UNTANGLING THE BIDDING WAR:

MILLENNIAL BUYERS:

A BUYER’S & SELLER’S PERSPECTIVES

Where They Are & What to Know

FEATURED AGENT

KRISSY AYAD COVER STORY

LYNEA CARVER

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SOCIAL MEDIA MISTAKES

Real Estate Agents Must Avoid There is perhaps no greater marketing tool for agents these days than having a large presence on social media, but there is more to social media marketing than just opening an account and gaining followers. A lot of agents forget the social part of social media. It’s all about engagement, but it needs to be the right kind of engagement. This can often be the first impression potential clients or industry peers have of you, so make it count. There is no second chance to make a first impression, and that is especially true for real estate agents. Here’s just a few things you want to avoid.

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1 Using it to Vent

Social Media is a great place to complain and commiserate about things, but save that for your personal page. A real estate transaction is already a stressful ordeal, the last thing anyone wants is someone who seems like they’ll bring a negative energy to the process. Even worse?

Bad mouthing other Realtors® or listings. You’re selling yourself and your skills, so don’t sell anything that shows you in a bad light. Much like marketing a property, everything you put out should be professional and inviting.

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Lack of Consistent Branding

Yes, social media is about social engagement, but it’s also about creating brand recognition. While you don’t want it to be purely promotional, you are running a business, so create a consistent branding across all social media platforms. If you can afford a professional graphic designer to help you out with this, that’s great. But at the very least, have the same profile pic, cover image and highly visible contact information, across the board. And don’t forget to share links to your other accounts, some people prefer different social media applications.

3Not Posting Enough

It’s good to create a schedule of how many times you’ll be posting per day and to pick times when you might have the most engagement.

Don’t over do it, but three posts a day at the right time, tends to be a good goal. There are numerous tools on Facebook, for example, that

can let you see when interactions are the highest.

Stick to your schedule and adjust accordingly.

It’s also important to not just post your listings.

Be a resource for people who follow your page.

Post community events, or other informative articles that are relevant to home ownership.

Be a page they want to follow even when they aren’t buying or selling a property. They’ll remember you when the time comes.

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Not interacting With Your Followers

It’s called social media for a reason. The more you engage with your followers, the more they see you as a real person, and not just a marketing tool. Not only do you get to know your past clients and potential clients, on Facebook, engagement actually will make your posts seen by more people. So it’s a win/win.

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Not Sharing or Linking to Others

It might not seem like a good idea to not promote the blogs, pages or listings of other people, but it’s not only an excellent way to build goodwill, it will also increase your own presence when they reciprocate. So make a point to share posts and links for local businesses and even the blogs of your peers, if it’s a post that offers valuable insight into an expertise you don’t have. That will encourage them to share your posts and even your listings, which will increase your potential buyer pool. This is another incentive to create your own blog. Unique informative content is always of value, and more likely to be shared than promotional links.

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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 6

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 Top Agent Magazine

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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LYNEA CARVER Top Agent Magazine

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Nestled in the natural beauty of the Pacific Northwest, Top Agent Lynea Carver and her team represent the East Pierce County area of Washington situated between Seattle and Tacoma.

Building relationships and leaving a lasting, positive impact on people’s lives are the core principles that define Lynea Carver’s thriving real estate business. As the child of a REALTOR®, she grew up visiting open houses every Sunday. Lynea worked as a subprime specialist and put in a dozen years climbing the corporate ladder before returning to real estate for what she thought would be a part-time job to pay off outstanding debt. It didn’t take long for Lynea’s passion for real estate to emerge. After completing her license in 2018, she quickly made the decision in 2020 to pursue the work she loves full time with impressive results.

Today Lynea is an independent agent and has started to build a boutique team. She already has a three-member support team in place and recently brought on a buyer’s agent. Going forward, she’d like to add a full-time listing specialist and an 10 Copyright Top Agent Magazine

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additional buyer’s agent to grow the team.

Lynea’s team represents the East Pierce County area of Washington situated between Seattle and Tacoma. The area is home to Tehaleh Master Planned Community, one of the largest developments of its kind west of the mountains. Lynea describes it as a Top Agent Magazine

rapidly-growing area with steady real estate values with a host of amenities and small businesses nestled in the natural beauty of the Pacific Northwest.

With a repeat and referral rate of 85%, Lynea believes it’s her expertise and authenticity 11 Copyright Top Agent Magazine

With a repeat and referral rate of 85%, Lynea believes it’s her expertise and authenticity that set her apart. She strives to be straightforward, thorough and knowledgeable while always putting relationships first. that set her apart. She strives to be straightforward, thorough and knowledgeable while always putting relationships first.

Lynea keeps in touch with clients through a quarterly calling plan and sending seasonal gifts such as a recent spring cleaning kit. She keeps clients informed with monthly home value reports and sends a full comparative market analysis (CMA) every year. Lynea also loves bringing people together hosting VIP and community events like an upcoming party at Sumner’s local Top Down Brewing Company.

To market listings, Lynea puts thought into a property’s potential buyers and customizes her approach from the beginning through staging and marketing efforts. Digital marketing is her forte.

She highlights listings with professional Copyright Top Agent Magazine 12

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photography and an emphasis on video which may be streamed across multiple channels from TikTok and Instagram to YouTube. Lynea also produces live video tours and utilizes Google Ads. Her sales show that this varied and creative marketing approach is working. With $16 million Top Agent Magazine

in sales last year, Lynea’s 2022 goal is to list 50 properties and close $30 million in transactions.

When she’s not working, Lynea is an avid weightlifter and reader and loves to play in the outdoors. She’s also an avid foodie and Copyright Top Agent Magazine 13

enjoys trying out new restaurants. With her enthusiasm and skills in marketing, Lynea is actively engaged in the local small business community by helping other business owners with event planning and marketing.

Lynea strongly believes in the importance

of relationships and reputation in business.

Who you choose to work with matters.

Working with professionalism, integrity and other’s best interest at heart are part of her winning approach to helping her client’s dreams come true.

For more information about Lynea Carver, call (206) 962-0247, email lynea@lyneacarver.com, or visit her website: lyneacarver.com www.

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Untangling the Bidding War: A Buyer’s & Seller’s Perspectives In a competitive marketplace, bidding wars become the norm. While this may put sellers in an excellent position to recoup on their investment, it can push buyers beyond their budgets and test their temperaments in the process. As an agent, how do you navigate both sides of the coin? After all, you want to net the best results for your client—regardless of which side of the closing table they’re on. To fortify your approach to a heated bidding war, here are a few ideas and insights to better clue you in on the perspectives of buyers and sellers alike.

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Buyer’s Perspective: Emotions Running High?

Channel it.

When the market is booming, buyers feel the pressure—especially when affordable inventory is limited. This can create stress, feelings of hopelessness, and impulsivity. As an agent, how do you channel this emotional energy into something positive? Consider asking buyers to put those anxieties and high hopes onto paper. Have buyers outline

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who they are, why they’re inspired to buy a home at this juncture in their lives, and how they see their lives unfolding once they become a homeowner (or repeat homeowner). Think of it as a letter of intent.

Buyers benefit from taking abstract fears and dreams and articulating them on paper. Likewise, this document can serve as a valuable tool during a bidding war. Letters like these can help sellers with multiple offers make a personal, emotional connection with a particular buyer.

Sellers Perspective: Manage expectations.

When multiple offers are rolling in on a property, it’s easy for sellers to get carried away. Numbers are flying, expectations are heightened, and sellers may become hypnotized by higher and higher offers and ideal outcomes. While it’s good to celebrate prime market positioning, it’s also important to maintain an even keel so that your seller’s mind is clear and they’re thinking rationally through their options.

Sometimes the highest offer isn’t necessarily the sure thing. Manage your clients’ expectations by leading by example, offering a balanced perspective, and talking them through all potential outcomes so that they don’t only hone in on the best-case scenario.

During a bidding war, tensions are running high for seller’s too, who will soon begin their next chapter in another home. Keep a cool head and remind your client to see the big picture, recognize that it’s possible for some offers to fall through, and to sit tight until the closing table has been successfully reached.

Buyer’s Perspective: How do you authentically and convincingly convey your interest?

When ten or so offers are in the mix, it can be hard to differentiate your buyer from the next. While numbers will obviously do a lot of the talking, you’d be surprised how much of a difference a 16

personal touch can make. Some popular approaches to standing out include personal letters—as mentioned above—tailored to the property. Was the property in question a family home for years? You might have clients detail their dreams of raising a family inside those walls, rather than tear the property down and rebuild something to boost the lot’s value. Including a family photo is also a good tact for personalizing letters in a bidding war. Likewise, little gifts included with your offer can speak volumes about your personality and due diligence as an agent. It may seem a little cheesy, but when sellers are looking at ten near-identical offers, those personal touches can really paint a compelling, personalized picture.

Seller’s Perspective: How powerful is cash?

Data shows that cash offers—typical of investor clientele—double the chances of having an offer accepted. This goes hand in hand with waiving a financing contingency, which also helped boost the probability of an accepted offer, according to research. Cash is king, however, since offers that aren’t completely reliant on comprehensive financing seem to minimize risk for sellers, who are already eager to see a deal go through. Cash deals also tend to go through quickly, freeing sellers up to pursue their next property and move on to new horizons. While not every buyer has the ability to operate in cash, it’s a worthwhile consideration for those in ultra-competitive markets and with liquid capital.

While the bidding process can be stressful for agents and clients alike, it’s important to remember that it’s a time of opportunity, too. If you want to make the most of it as a seller, data shows that a personal touch can endear buyers to their seller counterparts. For sellers navigating a competitive process, it’s important to keep a balanced perspective. For agents, here’s the bottom line: get creative, be resourceful, and use all the tools in your arsenal to achieve the best result for the clients you serve.

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KRISSY AYAD Coming from a background in leasing and then moving into property management of multi-family dwellings and apartment buildings, Krissy had built up solid experience to take with her when she landed her real estate license. That was over eight years ago, when she positioned herself under a mentor with over twenty-five years of experience to share. She admired her mentor’s enthusiasm and relationships with her clients and uses her as a target role model, looking to carry that enthusiasm to her own client base.

everything about a property before even mentioning numbers. A thorough walkthrough and comparison is needed to make sure everything runs smoothly for all parties involved.

Now Krissy works as a solo agent across the northern Seattle area, including highly desirable areas like Mukilteo, Shoreline and Edmonds. The region is home to Boeing Manufacturing, although as you move to the north end, it becomes more quaint and secluded. With the recent explosion in the housing market, there was a rush of clients moving in to enjoy the gorgeous views and proximity to the water. It’s a growing territory and Krissy is there to meet the demand.

Krissy handles all of the marketing herself, but leaves photography to the professionals for top-notch results to present on Facebook and Instagram, along with other touches a property may require like 3D walkthroughs and drone work. A thorough and measured approach to marketing has her closing up to 14 transactions yearly. The connection with those clients will ensure that they point to Krissy whenever they hear someone looking to buy or sell in the area. The connection continues from that first meeting through after the closing, when Krissy maintains a friendship with many of her clients.

She looks out for their interests first and foremost, and that forms a special trust that not every agent gets.

While she will run the periodic email campaign, she prefers keeping in touch in the more personable way of a text or call.

She speaks with integrity and it’s that intent that gets her recommended to meet that growing demand. All of Krissy’s clients come as referrals or from prior transactions. She’s extremely genuine in her interactions, caring about each individual client and transaction.

It all starts with a personal connection, perhaps a simple chat over coffee. During that initial consultation, Krissy works to connect with the client to know exactly what they’re looking for and which of the many diverse communities she covers would be the best fit.

For sellers, it’s working to figure out what their motivation is so she can figure out the timeline and price point to fulfill their needs. She makes sure she knows

Krissy keeps very active outside of work, taking full advantage of the beaches, lakes and extensive hiking trails of the area. When not outside enjoying nature, she can probably be found enjoying the newest eateries she comes across, keeping up on everything a community has to offer. Being deep in the communities around her, through exploring new restaurants and sites to donating part of her commission to local charities and being a member of the Chamber of Commerce is integral to keeping a connection to the area. That connection will only get deeper as she looks to add members to her team, with a growing dream to own her own brokerage.

For more info, call 208-819-4199 and email Krissy@kayadrealestate.com

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Laughs!

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Putting the power of humour to work for you!

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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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