BrokerLogiQ - Real Estate Professional Assistant Workbook

Real Estate Professional Assistant STUDENT WORKBOOK

BrokerLogiQ

TABLE OF CONTENTS Program Overview ▪ ▪ ▪ ▪

6 – 12

Expectations ................................................................................................................... 6 The Student Workbook.................................................................................................... 6 Introduction ..................................................................................................................... 7 Learning Objectives......................................................................................................... 8

Module 1: Your Career In Real Estate ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

The Institutions of Real Estate ....................................................................................... 10 Meet the Agent ......................................................................................................... 10-11 Tasks Performed by Professional Assistants ................................................................. 11 Characteristics of Personal Assistants .......................................................................... 12 Employee or Independent Contractor ....................................................................... 12-13 CRA Standard for Independent Contractors .................................................................. 13 Licensed and Unlicensed Assistants ............................................................................. 14 Tasks an Unlicensed Assistant Can’t Perform ....................................................................... 14 Tasks an Unlicensed Assistant Can Perform ............................................................ 14-15 Virtual Assistants........................................................................................................... 15 Crafting a Career as a Professional Assistant ............................................................... 16 SWOT Analysis ........................................................................................................ 16-17 Vision & Mission Statements ......................................................................................... 18 Why Should an Agent Hire You? .............................................................................. 19-20 Exercise – My Vision Statement .................................................................................... 21

Module 2: The Real Estate Industry ▪ ▪ ▪ ▪ ▪

22 - 27

The Business of Real Estate ......................................................................................... 23 The Institutions of Real Estate .................................................................................. 24-25 Commissions................................................................................................................. 25 Service Providers ..................................................................................................... 25-26 Fair Housing .................................................................................................................. 27

Module 3: Working with Buyers and Sellers ▪ ▪ ▪

9 – 21

28 - 36

Understanding Agency ............................................................................................. 29-30 The Fiduciary Relationship ....................................................................................... 30-31 Personal Service Agreements ....................................................................................... 32 BrokerLogiQ | Real Estate Professional Assistant Course | 2

TABLE OF CONTENTS Module 3: Working with Buyers and Sellers - continued ▪ ▪ ▪ ▪ ▪ ▪

28 - 36

Confidentiality is Essential ............................................................................................. 32 Pre-Listing Packets – Analog or Digital.......................................................................... 33 Listing Packets .............................................................................................................. 34 Buyer Packet ................................................................................................................. 35 Scheduling Showings .................................................................................................... 36 Requesting Showing Feedback ..................................................................................... 36

Module 4: Real Estate Technology ▪ ▪ ▪ ▪

37 - 41

Cloud Computing ..................................................................................................... 38-39 IOT and SmartHomes ................................................................................................... 39 Virtual Worlds ................................................................................................................ 40 Big Data ........................................................................................................................ 41

Module 5: Preparing for Client Interviews ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

42 - 53

Being Prepared ............................................................................................................. 43 Setting Up the Appointment & Managing the Calendar .................................................. 43 Pre-Meeting Research ............................................................................................. 44-45 The Online Persona ...................................................................................................... 45 Interview Kits ................................................................................................................. 46 Pre-Meeting Checklist ................................................................................................... 47 Pre-Meeting Emails .................................................................................................. 48-50 Agent’s Website as a Meeting Resource .......................................................................... 50-51 Other Items to Consider and Check Before the Meeting ........................................... 51-52 What to Prepare for the Agent ....................................................................................... 52 Exercise – How Agent Can Stand Out During Listing Appointment................................ 53

Module 6: Exceptional Customer Service ▪ ▪ ▪ ▪ ▪

54 - 58

Client Retention Plans ................................................................................................... 55 Online Reviews ............................................................................................................. 56 Online Review Sites ................................................................................................. 56-57 Clients Need to Be Asked for Feedback ........................................................................ 57 Exercise – Positive Online Personas ............................................................................. 58

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TABLE OF CONTENTS Module 7: Managing the Transaction ▪ ▪ ▪ ▪ ▪ ▪ ▪

The Transaction Cycle .................................................................................................. 60 Communication is Key................................................................................................... 60 Create Checklists .......................................................................................................... 61 Communications Tracking ............................................................................................. 62 Managing Expectations ................................................................................................. 63 Communicating Processes ............................................................................................ 64 Sample: Post-Contract Ratification Email ................................................................. 64-65

Module 8: After the Transaction Has Ended ▪ ▪ ▪ ▪

69 - 72

Health and Work-Life..................................................................................................... 70 Managing Tasks ............................................................................................................ 70 Chasing Little Red Dots............................................................................................ 70-71 Exercise – New Practice Implementation for Efficiency ................................................. 72

Module 10: Marketing, Branding and Creative ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

66 - 68

Post Transaction Action Items ....................................................................................... 67 Post-Closing Letters ...................................................................................................... 67 Closing Gifts ............................................................................................................. 67-68 Exercise – Client Referrals ............................................................................................ 68

Module 9: Time Management ▪ ▪ ▪ ▪

59 - 65

73 - 101

Marketing is a Conversation .......................................................................................... 74 The Consumer ......................................................................................................... 74-75 Google’s Zero Moment of Truth ............................................................................................... 76 Prospecting ................................................................................................................... 77 Inbound Marketing.................................................................................................... 77-79 Marketing Delivery Tools ............................................................................................... 79 Agent Websites ........................................................................................................ 79-84 Marketing Listings ......................................................................................................... 84 o MLS ................................................................................................................... 84 o Open Houses................................................................................................ 84-85 o Marketing the Open House ........................................................................... 85-86 o Homebooks ....................................................................................................... 86 o Listing Aggregators ............................................................................................ 86 o Single Listing Websites ...................................................................................... 87

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TABLE OF CONTENTS Module 10: Marketing, Branding and Creative - continued

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o Listing Photos, Virtual Tours and Videos ...................................................... 87-88 Listing Marketing Checklist ....................................................................................... 89-90 Generating Client Opportunities ............................................................................... 91-93 Video Marketing ....................................................................................................... 94-97 The Agent Biography................................................................................................ 97-99 Things to Consider with Marketing Assets .............................................................. 99-101 Exercise – Resources to Direct Consumers Back to the Marketing Hub ...................... 101

Module 11: Tools of the Trade ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

106 – 109

Vendor Interviews ................................................................................................ 107-108 Evaluating the Effectiveness of a Tool ......................................................................... 108 Repositioning a Resource ........................................................................................... 109

Appendix ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

102 – 105

CRM – Client Relationship Managing .......................................................................... 103 Password Management Systems ................................................................................ 103 Action Item and Project Management .......................................................................... 103 Email Campaign and Marketing Management Systems .............................................. 104 Writing Tools ............................................................................................................... 104 Graphic Design ........................................................................................................... 104 Team Organization Systems ................................................................................ 104-105 Transaction Management Systems ............................................................................. 105 Exercise – Favorite Resources and Tools ................................................................... 105

Module 12: Working With Vendors ▪ ▪ ▪

73 – 101

110 – 134

183 Things a Realtor Does ................................................................................... 111-116 Buyer Client Checklist .......................................................................................... 117-119 Contract Review Checklist.................................................................................... 120-121 Listing Action Plan Checklist ................................................................................ 122-123 Marketing Checklist – New Listings ...................................................................... 124-125 Questions to Ask a Buyer ..................................................................................... 126-127 Questions to Ask a Seller ..................................................................................... 128-129 Vendor List Template ........................................................................................... 130-133 Website & Digital Tools ............................................................................................... 134 BrokerLogiQ | Real Estate Professional Assistant Course | 5

EXPECTATIONS

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Arrive on time from all breaks.

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Turn off or silence cell phones.

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Feel free to ask questions.

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Keep side talk to a minimum.

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Agree to disagree.

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INTRODUCTION – YOUR CAREER AS A PROFESSIONAL ASSISTANT

For over 100 years real estate agents have been dutifully serving people all over the world to help them protect their investments and financial interests. Real estate remains an important part of the economic health of our society. As time has changed the demands on the real estate has increased and brought forth new complexity and new demands.

The real estate has an ever-growing burden to meet the diverse needs of today’s client and many of those agents have invested in professional assistants to work alongside them and better serve the client’s needs. Professional assistants have become a core part of many agent’s business plans and therefore creating an opportunity for talented individuals to create a new career opportunity.

The Real Estate Professional Assistant certificate course is an advanced training program that is designed to sharpen the skills of current professional assistants or jumpstart the career of an aspiring professional assistant who has not yet begun their career.

This program will cover a variety of skills, techniques and topics that will make a professional assistant invaluable to an agent. At the end of this program the professional assistant will be able to create their own business model to work for one or more real estate agents and be a sought-after professional by top real estate agents.

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LEARNING OBJECTIVES ▪

Learners will understand how to establish themselves as a business professional and “brand” as an expert assistant for a real estate agent or team

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Learners will attain a solid level of understanding about the real estate industry, its operation, and the skills necessary to be an invaluable support position in a successful real estate agent’s team

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Learners will gain a deep understanding of how successful agents work with buyers and sellers and how the Real Estate Professional Assistant can equip the agent to grow their business and serve their clients to a high level of professionalism

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Learners will be equipped with a broad understanding of real estate technologies and a tool kit to support their agent or team’s business

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Learners will have a full understanding of contemporary and proven marketing techniques, tools, and assets to run a successful marketing and branding plan on behalf of the agent or team

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Leaners will be prepared to create engaging and meaningful resources to assist agents with the preparation and execution of a Client Interview

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Learners will have a general knowledge of the various tools and assets used by agents in the management of their business including cloud-based computer systems, operation systems, marketing tools and transaction management systems

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Learners will understand the value of exceptional customer service practices and tools that support a client experience to generate continued and new business opportunities for the agent or team.

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Learners will be provided techniques and tools to successfully manage a real estate transaction from client interview to the transaction’s end

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Learners will develop a successful strategy for engaging consumers after the end of a transaction

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Learners will develop best practices for successful time management techniques for themselves and their team

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Learners will be equipped to interview, manage, and work with outside vendors and service providers on behalf of the agent or team

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MODULE 1

Your Career in Real Estate

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MODULE 1 – YOUR CAREER IN REAL ESTATE The Institutions of Real Estate The Real Estate Assistant is part of a larger industry.

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The agent is the guide for the consumer.

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The brokerage supports the agent.

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The Real Estate Council of Ontario (RECO) regulates real estate professionals in the province.

These include real estate salespeople, brokers, Brokers of Record, and brokerages, all of whom must be registered with RECO in order to trade in real estate in Ontario.

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CREA provides services, advocacy, and benefits to its members.

Meet the Agent Real estate agents, their skills, experience, and expertise vary from one practitioner to another. All agents are licensed and sworn to look out for their client’s best interest ahead of their own and to provide the client with either statutory or fiduciary service to ensure the client receives the best care, advice, and guidance possible.

Real estate agents work diligently to improve their client’s position in the real estate transaction and are obligated to be proficient in a myriad of duties including a strong working knowledge of real estate law and regulation, negotiations, contracts, local and provincial regulations and ordinance, general practice and more. In addition, successful agents have developed a strong working knowledge of marketing, technology, business practices, finances, and budgets.

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MODULE 1 – YOUR CAREER IN REAL ESTATE Professional assistants can help meet the varied obligations of the agents by being proficient in the administrative and marketing tasks of the agent to help free part of their time to creating new business opportunities and serving those clients who have already trusted the agent to help them with their real estate needs.

Tasks Performed by Professional Assistants Real Estate agents who engage the services of a professional assistant do not always know the full value of an assistant until their dependency and trust grows by working alongside the agent. In a recent survey by the Canadian Real Estate Association of REALTORS® it was found that agents depend on their professional assistants for a wide range of duties and skills to help the agent provide the best servicethat they can for their clients.

Exhibit 1-11: Tasked Performed by Personal Assistants

68%

Process new listings and enter into MLS Scheduling

66%

Manage closing paperwork

66% 58%

Mailings Send reports to sellers

57%

Place/track advertising of listings

57% 49%

Order inspections

45%

Prepare comps

42%

Photograph listings

33%

Write ads

30%

Prepare Sale files

29%

Check MLS for expired Check newspapers/websites for FSBOs Prospect FSBOs

18% 14%

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MODULE 1 – YOUR CAREER IN REAL ESTATE Characteristics of Personal Assistants It was also found in this survey that personal assistants have the following common characteristics:

Employee or Independent Contractor Professional Assistants may work as either an independent contractor or an employee of the real estate agent. Unless also licensed as a real estate agent, professional assistants are not permitted to receive a portion of any earned commission. Professional Assistants and agents should consult with the Principal Broker of a firm to ascertain what is permissible under the provincial law and the policies of the Brokerage as it pertains to what, if any, portion of a real estate commission can be paid to the professional assistant.

As an employee of an agent the professional assistant is paid either a salary or an hourly wage by the agent or the firm. The agent or firm is responsible for the tax withholdings of the employee, as well as other associated costs as required for an employee by the Government of Canada. This may include healthcare benefits, sick leave, and personal paid time off.

Independent contractors are those who work for one or more agents and are paid a gross amount without any withholdings. The independent contractor is obligated to pay their own taxes, provide their own equipment, and are generally not provided with any benefits or paid time off.

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MODULE 1 – YOUR CAREER IN REAL ESTATE 32% - Employee ▪ ▪

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Worker receives instruction and training form employer.

Tools and supplies are provided by employer and worker receives reimbursement for business-related expenses.

Works for one employer on a continuous basis and performs a key function in the business.

Worker has set hours, is paid on a regular basis and receives an hourly wage or salary.

Worker receives benefits such as insurance and paid time off.

Employer is responsible for withholding taxes and T4 Slip on wages paid to worker.

Employer files a T4 form for the year.

68% - Independent Contractor ▪ ▪

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▪

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Worker provides skills and expertise and decides how the job is done.

Tools and supplies are provided by the worker, and they cover their own business-related expenses.

Works for multiple employers for a given period and performs a supplementary function.

Worker sets own hours and receives a flat fee or paid an hourly, daily, or weekly amount.

Worker does not receive benefits.

Worker pays their own employee and selfemployment taxes.

For workers paid $600 or more, employers file a form T4A for the year.

The CRA has established a litmus test to determine if an individual can qualify as an independent contractor. In most instances, professional assistants do not meet the CRA standard and should be considered employees.

The CRA Standard for Independent Contractors The CRA will determine an assistant as an employee or independent contractor based on: ▪

The degree of control exercised by the alleged employer

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The extent of the relative investments of the alleged employee and employer

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The degree to which the employee’s opportunity for profit and loss is determined by the employer

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The skill and initiative required in performing the job

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The permanency of the relationship.

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MODULE 1 – YOUR CAREER IN REAL ESTATE Licensed and Unlicensed Assistants As mentioned earlier, about half of professional assistants possess a real estate license. Professional assistants with real estate licenses generally are more sought after by real estate agents because they can perform more functions under the laws of most provinces. A professional assistant with an active real estate license can perform all the same tasks that a real estate agent can, including meeting with clients, procuring written agreements, negotiating on behalf of the client and more.

Tasks an Unlicensed Assistant Can’t Perform Most provinces have guidelines for what tasks an unlicensed real estate assistant can and can’t do.

You should check with your province’s real estate commission or licensing authority for the most current information.

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Host open houses, kiosks, trade-show booths, or fairs.

Interpret information on listings, titles, financing contracts, closings, or other information related to a real estate transaction.

Show property.

Measure homes.

Give an opinion or advice.

Explain or interpret a contract, listing, lease agreement, or other real estate documents with anyone outside the employing licensee’s firm.

Negotiate or agree to any commission, commission split, management fee, or referral fee on behalf of a licensee.

Perform any other activity for which a real estate license is required.

Tasks an Unlicensed Assistant Can Perform The following list is a summary of limitations that most professional assistants should adhere to if they do not have an active real estate license.

Please keep in mind that this is not an all-inclusive list and provincial statutes, and regulations should be consulted. The employment or affiliation of a professional assistant and if they are permitted to be licensed or not is subject to the policies of the Principal Broker.

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Answer the phone, take messages, and forward calls to a licensee.

Submit listings and changes to an MLS. Follow up on a transaction after a contract has been signed.

Assemble documents for closing.

Secure public information documents from a repository of public information.

Have keys made for a company listing.

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MODULE 1 – YOUR CAREER IN REAL ESTATE 7.

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Draft advertising and promotional materials for approval by licensee.

Place advertising.

Record and deposit earnest money, security deposits, and rents.

Complete contract forms at the direction of and with approval by a licensee.

Monitor licenses and personnel files.

Compute commission checks and perform bookkeeping activities.

Place signs on property.

Order items of routine repair as directed by a licensee.

Prepare and distribute promotional information under the direction of and with approval of a licensee.

Act as a courier to deliver and pick up keys, etc. *Schedule appointments for the licensee. (*Does not include making phone calls, telemarketing, or performing other activities to solicit business on behalf of the licensee.)

Sit at a property for a broker tour that is not open to the public.

Gather feedback on showings.

Provide security.

Perform maintenance, engineering, operations, or other building trades work and answer questions about such work.

Provide concierge services and other similar amenities to existing tenants.

Manage or supervise maintenance, engineering, operations, building trades, and security.

Perform other administrative, clerical, and personal activities for which a license is not required.

Respond to questions by quoting from published information.

Virtual Assistants As the online world has evolved, some professional assistants have found that offering a specific menu of tasks that can be completed and managed through the internet and offsite from the agent is a profitable business model. The Virtual Assistant concept is growing in popularity and profitability as the agent can pick and choose specific tasks that they need help with and not have the financial obligations of a full or part-time professional assistant throughout the year.

Even though the Virtual Assistant concept is growing more popular it still has several limitations.The Virtual Assistant is not fully dedicated to one agent, only performs a set number of tasks, and doesn’t learn the agent’s preferred way of doing things.

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MODULE 1 – YOUR CAREER IN REAL ESTATE Dedicated professional assistants can create their own unique value proposition through dedication to an agent or team, learning the local MLS, contracts, and policies to better assist the agent with a wide variety of tasks and services.

Crafting A Career as A Professional Assistant Throughout this course you will be introduced to a variety of tools and new skill sets to establish yourselfas a valuable resource to an agent or team. You are the CEO of your brand. You can choose to work for one or more agent’s, work virtually or directly for a team or agent, or specialize in a particular niche within the real estate environment.

Now is a good time to begin thinking about how you can capitalize on your value to potential agents and teams and present yourself as an invaluable resource.

SWOT Analysis Every business or professional should start with a SWOT Analysis. The SWOT analysis was established to assist you with evaluating internal factors that influence you and your team’s success, such as your personal Strengths, Weaknesses and external influences that contribute to successsuch as Opportunity and Threats.

When evaluating yourself and your team as part of the SWOT analysis it is important for you to be honest in this assessment. This is an opportunity for you to reflect on yourself and your team and those things that you can bring to the table or those areas you need to improve upon.

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MODULE 1 – YOUR CAREER IN REAL ESTATE

PERSONAL or INTERNAL FACTORS

STRENGTHS

Strengths are things that you or your team do particularly well. These can be uniquely distinguishable and mark you as more valuable than others in the same competitive position. Your strengths are critical parts of your team. It’s what you do better than everyone else that is also trying to get the same position or do the same job. Strengths are part of your unique value proposition. Example of the strengths may be your ability to be organized or to handle stress in a positive manner. It may also be your ability to use technology to a higher level than most other people.

WEAKNESSES

Weaknesses are what you need to put a little bit more effort into working on and are often curable. They are limitations that place the business in a disadvantage situation over others. There are also times when we have a tight schedule, a limited number of resources, or lack of finances in order to really expand the business.

EXTERNAL INFLUENCES and FACTORS Opportunities are those things that are outside influences or situations that arise. They may be something that a team or individual can take advantage of to improve their position in marketability to a perspective employee or client.

OPPORTUNITIES Opportunities may be market driven or a result of geography. For example, a large military installation being built in a given market area may mean an increase in business to a team that specializes in military relocation. That means that they will need to expand their team.

THREATS

Threats are outside influences that may negatively impact or affect the ability of a business entity to flourish or grow. Threats could be obstacles that a person or business needs to consider and develop strategies on how it can be overcome. A threat to a professional assistant may be a change in the market the causes agents to consider cutting back on their staff or team and re-focus their business to a different type of client.

Once a SWOT analysis is completed, it’s time to sit down and decide what areas a professional assistant should focus on. How do you best present your strengths in your marketing and interview for a new position? What do you need to do to overcome your weaknesses? How do you take advantage of opportunities and ward off threats? The SWOT analysis has now become the foundation of your marketing and business strategy as a professional assistant.

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MODULE 1 – YOUR CAREER IN REAL ESTATE Vision and Mission Statements Most professional assistants are individual entrepreneurs and may not consider a vision or mission statement as important. But developing a business mindset and being the best you can be at your career requires focus. A vision statement and mission statement will help give you direction and function as the north star giving you guidance on what choices to make to maximize your career opportunities and strive for the next level of success.

Sample vision statements:

“Squarespace makes beautiful products to help people with creative ideas succeed.”

“To provide access to the world’s information in one click.”

A vision statement describes where an entrepreneur aspires to go and what goals they wish to achieve.

It establishes your destination.

Mission statements are a declaration of your purpose as a business professional and lets others know who you are as a professional.

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What do you want to become?

How do you want to be seen?

What do you want to accomplish?

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MODULE 1 – YOUR CAREER IN REAL ESTATE Why Should an Agent Hire You? Almost all real estate agents need a qualified and competent professional assistant to help them and grow their business, but many agents are unsure how to best utilize the assistant’s skillset or what it will mean for them as a business professional. Professional assistants should learn how to market themselves and communicate their value to an agent or team. There are many reasons why agents and teams need a qualified assistant. Just a few of those reasons are listed below.

Organization

As stated early in the chapter, real estate agents are required to wear a lot of hats and to organize a lot of different transactions and aspects of their business. The professional assistant can bring those various roles together and create systems and tools to help the agents stay on track and develop better business practices.

Marketing

Of the many tasks that agents should be doing, marketing is at the top.

Keeping potential clients engaged, developing new business opportunities, and marketing their listings is an overwhelming process for many agents and often they do not have the time to do all that they wish to do each day in this area. Many agents also lack the time to really learn how to be experts at marketing and could benefit from a professional assistant who can focus on doing marketing well and consistently.

Technology

Agents are very often eager to adopt new tools and technologies into their business but lack the time to master them or understand the full benefit. The professional assistant can help an agent manage, understand, and implement a variety of technological tools into the agent’s pool of resources.

Processing Transactions

From acquiring a new listing agreement to getting a contract ratified, a real estate agent has a lot of processes that need to be put in place to ensure that nothing is missed, and that paperwork is organized and processed accordingly. Managing vendors, clients, support services and ensuring trust funds are deposited and tracked, can be overwhelming to a high performing agent. The organized professional assistant can be a hero to the agent with a well-defined system to process transactions.

Managing Seller and Buyer Clients

At the core of the real estate industry, it is a people business. Day in and dayout the real estate agent is engaging and serving people. Too often the need to be in more than one place at a time is a very real necessity for an agent. A professional assistant can help agents by answering routine questions and providing information that clients need, that a real estate license isn’t required to provide. The agent will also benefit by having a professional assistant prioritize the needs of the current and potential clients that are seeking to do business with the agent and to keep them engaged in the process until they are ready to sell or buy a home.

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MODULE 1 – YOUR CAREER IN REAL ESTATE

Saving Time

Time is something that most people never have enough of. Real estate agents spend a lot of time in meetings, training and with clients doing various tasks. It often leaves little time for an agent to acquire new skills, find information they need, fine tune their marketing campaigns and any numberof other tasks that need to be done. A competent professional assistant willact as an extension of the agent and will be sure to handle the things the agent doesn’t have time to get to.

Work-Life Balance

Many agents work very long hours and often need to give up traditional work schedules to meet the needs of their buyer and seller clients. This creates a hardship on some families because the agent’s need to meet their client’s schedules may conflict with the agent’s own family’s needs. A professional assistant will help the agent create a stronger balance in their day and make it easier to prioritize family time throughout the week.

Risk Reduction

Because of the nature of the duties imposed upon real estate agents, there are a great deal of national, provincial, and local regulations involved in the practice of real estate. It can be challenging at times for agents to keep track of all that they must do and to ensure all their legal obligations are met. From trust money deposits, marketing disclosure and turning in paperwork, a professional assistant can help ensure that an agent remains in compliance.

Creating marketing resources, newsletters, brochures, maintaining CRMs, meeting materials, and more are all important tasks that need to be done on Business Generation a regular basis to ensure that a real estate agent or team have new opportunities and inbound consumers that can become clients one day.

The role of the professional assistant in these tasks can be crucial in ensuring that these assets work as they should and are being maintained.

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MODULE 1 – YOUR CAREER IN REAL ESTATE

Write down the first draft of a vision statement that will establish your value proposition to a real estate agent or team looking for a professional assistant.

EXERCISE

My Vision Statement:

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MODULE 2

The Real Estate Industry

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MODULE 2 – THE REAL ESTATE INDUSTRY The Business of Real Estate Real estate is a part of the Canadian fabric and accounts for a tremendous amount of wealth and value in Canada. The sales of real estate and the various businesses that are impacted by it are a significant economic part of the wellbeing of a civilization.

Many agents choose to specialize in a particular type of real estate business from residential to commercial and then often they select a niche like first-time home buyers.

Real property describes the land and improvements (such as a house or commercial building) on the property. Real property is divided into five primary classifications.

RESIDENTIAL This includes existing and new construction homes that are intended to be lived in as a person’s residence. The most common category is single-family homes. There are also condominiums, co-ops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-generational and vacation homes.

COMMERCIAL This includes properties that are intended to be income producing and includes shopping strips, education buildings, medical facilities, hotels, and office buildings.

INDUSTRIAL This includes properties that are intended to manufacture goods and can include warehouses, research facilities, development facilities, car builders, shipping yards, food storage and more.

LAND/AGRICULTURE This includes raw land, farmland, wooded area, vacant lots, and other undeveloped property.

PROPERTY MANAGEMENT A type of business service related to property is the management of properties on behalf of the owner, known as a landlord. Many agents will elect to work on behalf of a property owner to maintain the property and work with the tenant to collect rent, make repairs and limit vacancies.

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MODULE 2 – THE REAL ESTATE INDUSTRY The Institutions of Real Estate Being a professional assistant means that you’re a part of a larger industry. The agent functions as a trusted advisor and guide for their clients, the professional assistant will work alongside them to ensure that the client’s goals are met, and the agent is able to function at a higher level of proficiency.

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Real Estate Brokers and Brokerages

For over a hundred years the industry as functioned as a guide for consumers seeking to buy, sell, rent, or lease real estate. The real estate brokerage is the fundamental element of this industry. The brokerage itself is made up of a collection of real estate agents and associate brokers who function on behalf of the principal broker to serve the client’s needs. All operations of the real estate agent, the performance of their tasks and duties, are overseen by a broker. The broker carries the burden of all liability and responsibility for the actions of the real estate agent.

In most provinces the real estate broker is chiefly responsible for the real estate client and the relationship is between those two parties. Real estate agents function on behalf of the Broker to fulfill the obligations and duties of the broker to their clients. The Broker will have company policies in place to oversee the activities of the real estate agent. Trust accounts are managed by the Broker for money or things of value that are entrusted to the firm to hold as security for the client’s performance ona contract. The Brokerage also handles receiving and disbursing the commissions that are earned by the real estate agent.

In most cases agents are associated with the brokerage as an independent contractor, which means that the agent has their own real estate license and chose to affiliate with a firm to service their clients.

Agents, as independent contractors, are their own business entity under the brokerage. The agent does not usually collect a salary and is obligated to cover their own business expenses, pay their own income taxes, and maintain their licenses.

The role of Salespersons, Brokers and Agents is to list real property for sale or lease, represent buyers, sellers, and tenants, and work under the supervision of the broker.

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The Real Estate Commission

Every province has different licensing requirements for real estate agents, brokers and other parties working on behalf of clients. The real estate agent must be licensed in the province in which they are conducting business on behalf of clients. The Real Estate Commission of each province is chartered by the province to protect the consumer by requiring specific standards to be met for a real estate agent to begranted and keep a real estate license. The Real Estate Commission has authority to discipline real estate agents and uphold the laws of the individual province as they pertain to the licensed practice of realestate. The Real Estate Commission will also require continuing education and minimum professional development requirements to real estate agents to keep their licenses.

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MODULE 2 – THE REAL ESTATE INDUSTRY

Commissions The primary source of income for most agents is the money they earn from selling real estate. The agent agrees to take a listing and the seller often agrees to pay a portion of the equity in their property to the listing agent who then shares a portion of that with the buyer’s agent. In some instances, the buyer may pay the agent for the services that the agent is rendering.

All money earned from the client is paid to the firm and then the Principal Broker distributes it to the real estate agent who facilitated the transaction. In most cases the broker retains a part of the commission to cover the costs of operating the firm, providing tools and resources to the agent, and promoting the brand to the public.

Commissions are negotiated by the broker or agent with the clients throughout the transaction. There are no standard fees for service and all parties are free to negotiate fees for various levels of service.

Compensation is often earned at the time a contract is ratified by the parties, but usually not paid to the real estate firm until after the transaction has closed. Commissions can only be paid by and to licensed real agents. In most provinces, agents may not give “gifts” or things of value to unlicensed parties in return for referral of clients.

Service Providers There are a variety of individuals who will be involved in the real estate transaction. The vendors will often have established relationships with the real estate agent or team. These relationships are valuable for both the vendors and the agents. Frequently agents and teams assist clients by coordinating these vendors and their various duties to the buyers and sellers throughout a transaction.

These vendors render types of services from interior decorators to repair persons. The most common vendors include mortgage providers, inspectors, and settlement service providers.

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MODULE 2 – THE REAL ESTATE INDUSTRY ▪

Mortgage Providers

Mortgage providers assist buyers with attaining loans so that they can purchase their homes. Mortgage lenders can be brokers who represent various lending institutes or direct lenders who only represent one lending institute. The loan officer will communicate with the buyer and the agent to provide updates on the loan process and coordinate the appraisal. Often the loan will have conditions which the buyer needs to meet in order to proceed and an agent will be called upon to assist.

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Inspectors

Most real estate sales include a discovery period in which the buyer is given access to the property to do reasonable inspections to ensure that the house is safe and in good working order, or a feasibility study to ensure that the land will work for their intended purposes. The range of inspections will depend on the conditions the buyer and seller agreed upon in the contract. Home inspectors, surveyors, well and septic inspectors, structural engineers and others will need to know what the range of their inspections will be, will need access to the property, coordination on when inspections will be done and how to handle post inspection reports and contingencies. The professional assistant will routinely be involved in tracking and coordinating these individuals.

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Settlement Providers

Settlement service providers are often attorneys who are tasked with preparing and recording deeds, land transfer records, and managing the funds involved in a real estate transaction. Someprovinces allow layperson settlement firms where an attorney may only prepare the deed and other licensed individuals coordinate and execute the closing settlement event. These firms will work closely with the agent and the professional assistant to ensure that contacts, deeds, financial arrangements, and legal documents are properly managed. The settlement provider also ensures that the transaction and conveyance is recorded with the court systems for public recordation.

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MODULE 2 – THE REAL ESTATE INDUSTRY Fair Housing There are a large range of regulations and laws that govern the real estate agent, but one prevailing legislation is the Fair Housing regulation. Professional assistants will need to be diligent to protect consumers by treating all parties fairly on behalf of their team and firm. Consistent practices with all clients regardless of their protected status will be a good liability practice.

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Protected Classes

Fair housing laws are federal, but many provinces and localities have adopted more restrictive protected classes in addition to the federal regulations. The REALTOR® Code of Ethics also outlines additional duties to REALTORS® in addition to the regulatory codes, which includes an obligation to treat parties fairly based on sexual orientation. The following federal eight protected classes exist.

1.

2.

3.

4.

5.

6.

7.

8.

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Race Colour Religion National Origin Sex Disability Family Status Support animals

Classification of Fair Housing Violations ▪

Steering is the act of alienating or discouraging a particular type of housing or geographic area based on the protected class of the client or residents who live in the area in question.

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Blockbusting is the act of attempting to manipulate sellers to sell or lower their price based on the fear of a particular type of race or person moving into the area.

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Redlining is the practice by mortgage or insurance companies to charge different rates for their services based on the racial makeup of a given area.

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MODULE 3

Working with Buyers and Sellers

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MODULE 3 – WORKING WITH BUYERS AND SELLERS Understanding Agency Each province has its own agency laws that set forth the duties that real estate professionals owe to their clients and what disclosures need to be made to the clients.

Implied agency is when the client and agent act as a reasonable person would anticipate an agent and client to behave. An agent who offers services to a buyer, seller, landlord or tenant and a client who agrees to avail themselves of those services are deemed to have established an “agency” relationship.

The alternative to an implied agency relationship is an expressed agency, where the parties not only act as client and agent but have also entered into a written agreement to memorialize that relationship.

Some provinces require that some or all agency relationships be reduced to writing in order to be lawful.

Exclusive agreements are those agency agreements that require the agent and client to work together,and the client may only work with the agent or firm named in the written agreement. To not do so mayrequire the client to pay the agent a fee or commission, regardless of who assisted the client in buyingor selling. Non-exclusive agreements are agency agreements in which the client is free to work with other agents and whichever agent.

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Agency Relationships

Consumers are divided into three groups in order to establish what duties, if any, an agent is obligated to provide to each party.

Clients

These individuals enjoy the highest standard of care from an agent. Clients are currently working with an agent to serve their real estate needs. Whether expressed or implied, there is an agency relationship and commitment by each party to work together.

Customers

These individuals are either currently in a real estate transaction or are seeking to enter into an agency relationship but have not yet agreed to be represented by an agent.

Non-Client

This is a party in a real estate transaction who is not represented by an agent. The homeowner selling their homes as a FSBO would be considered a non-client. Generally, an agent would have a non-client sign a disclosure or agreement to go unrepresented in a transaction.

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MODULE 3 – WORKING WITH BUYERS AND SELLERS 4 Types of Agency Relationships

Seller Agency

A Seller’s Agency represents exclusively the seller’s interest in a real estate transaction

Buyer Agency

A buyer’s agent represents the interests exclusively of the buyer in a real estate transaction.

A buyer’s agent shows a property to a buyer that is also represented by that agent’s firm, or when a listing agent shows a property to a buyer that is also represented by the same firm.

Dual Agency

In some provinces it is permissible for a real estate agent to represent both the buyer and the seller at the same time in same transaction. This is considered “dual” agency. The agent is very limited in what services, advice, and negotiations they can offer these parties as the agent is prohibited from taking any action that puts one party in a better position than the other party.

The real estate firm will designate a salesperson to represent the buyer and another salesperson to represent the seller – even though each of the salespeople are from the same firm.

Designated Agency

Agency relationships with clients are relationships between the client and the firm or Principal Broker. The agent is the party caring for and servicing the client on behalf of the firm. When the firm is representing both the buyer and seller, but each client has a different agent in the firm assisting them this is called “designated” agency because the broker has permitted or designated agents to represent each party.

The Fiduciary Relationship Once an agency relationship is established there are both fiduciary or statutory duties that an agent owes their client and are dictated by each province. These duties are called “agency duties” and are designed to ensure that the agent and client are aware of what can be expected from a salesperson or broker. The province governs the actions of the agents and can discipline the agent for not adhering to theduties as outlined by each provinces law.

The relationship between a real estate agent and a client is called a fiduciary relationship. Fiduciary means faithful servant, and an agent is a fiduciary of the client. In real estate, a broker or a salesperson can be the agent of a seller or a buyer.

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MODULE 3 – WORKING WITH BUYERS AND SELLERS OLD CAR – Fiduciary Duties The technical name or category of agency duties vary from province to province, but they basically all have the same fundamental functionality. The acronym ‘Old Car’ is an easy way to remember these duties: O

Obedience

Agents must obey all lawful orders and instructions that the client gives them.

L

Loyalty

Agents owe undivided loyalty to the client and put the client’s interests above their own.

D

Disclosure

C

Confidentiality

Agents must keep confidential any information given to them by their client, especially information that may be damaging to the clients in a negotiation.

A

Accounting

Agents must account for all funds entrusted to them and not comingle (combine) client/customer funds with their personal and/or business funds.

R

Reasonable Care

Agents must disclose to the client any information they receive that may benefit the client’s position in a negotiation.

Agents must use all their skills to the best of their ability on behalf of the client.

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MODULE 3 – WORKING WITH BUYERS AND SELLERS Customer Service Agreements Customer service agreements are documents that create a contractual agreement between a real estate firm and a client. The customer service agreement outlines the types of services that a real estate agent will provide to their client.

In most provinces a customer service agreement is required in order to disclose to the client what services and what limitations the agent may have relative to their license. Customer service agreements need to stipulate the types of services being offered, how much the service will cost the consumer, how the agent is to be compensated, when the relationship expires and any associated regulations that are imposed on the client because they are working with a licensed agent.

Examples of customer service agreements include: ▪

Sale or Rental Listing Agreements

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Buyer Representation Agreements

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Property Management Agreements

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Tenant Representation Agreements

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Independent Contractor Agreements

Confidentiality is Essential Many buyers and sellers feel that trust is a primary consideration when choosing an agent. The REALTOR® Code of Ethics and every provincial law requires the agent to keep certain facts and information confidential about their client and their client’s position in the transaction.

Professional assistants will be bound by this same level of confidentiality. Releasing information about a client that relates to their personal lives, financial position, or information that the client may deem confidential could be a breach of the law and also put the client at a disadvantage during negotiations.

Inquiries regarding clients, their motives or any information that isn’t readily available on a public platform should be referred to the agent representing the client and not answered by the professional assistant.

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MODULE 3 – WORKING WITH BUYERS AND SELLERS Pre-Listing Packets – Analog or Digital The use of an analog or digital pre-meeting packet will ensure that a client keeps their appointment with the agent and gets to know the agent and their offerings before the physical meeting.

Not all agents prefer digital pre-meeting packets. Having a tangible packet of information to deliver to the seller prior to the listing appointment can be an impressive gesture to the seller and help to set the stage for the listing meeting. When time permits the pre-listing packet should be delivered a day or two before the actual meeting. A pre-listing packet can have an assortment of materials in it, here is a list of some common elements for a pre-listing packet.

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MODULE 3 – WORKING WITH BUYERS AND SELLERS Listing Packets Listing packets work in concert with pre-listing packets. Listing packets accompany the agent to the listing appointment and serves as visual aids in addition to the listing agent’s digital presentation, which is often done on a laptop or tablet.

The listing packet should have high quality materials that reflect well on the agent and shows the seller the quality of work that the agent and their team will do in the future. Listing packets can also have a wide range of materials, but some of the most common elements include:

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MODULE 3 – WORKING WITH BUYERS AND SELLERS Buyer Packet The buyer’s packet is similar to the listing packet and is designed to assist the agent with their buyer counseling session, which usually occurs at the first meeting. The buyer packet should have resources for the buyer to better understand the buying process, materials to demonstrate the agent’s value to the buyer, information about the area and other resources. The packet should establish the agent as an undeniable resource to any buyer. Some of the additional elements one might include in a buyer packet include:

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MODULE 3 – WORKING WITH BUYERS AND SELLERS Scheduling Showings Once a Seller has signed a listing agreement the listing agent will arrange showings for buyers.

Professional agents utilize electronic lockboxes that provide access to the home and track who opens the lock box and when. The use of real estate lockboxes is an important measure for ensuring the safety of the homeowner and their property. A professional assistant may be tasked with arranging and coordinating showings for buyer agents entering the home.

Most often the instructions for when a home is available for showing and the information the buyer agent needs for getting into the home are outlined in the Multiple Listing Service. At other times, the buyer agent will need to contact the listing agent for showing instructions. Generally, sellers want to know when a showing is scheduled so that they can leave the property and allow the buyers an uninterrupted visit of the property. The professional assistant will need to work with the sellers to organize the showings.

If the professional assistant is working with the buyer’s agent, they may be called upon to map out the showings scheduled for a particular day and make arrangements with the listing agent of each property for the showing and times of the appointments.

If a showing is cancelled it is professional and customary to notify the listing agent so that sellers can be made aware not to make arrangements to leave their properties.

Requesting Showing Feedback At the completion of each showing it is customary for the listing agent to send a request to the buyer’s agent asking for the buyer’s thoughts and feedback on the property. Sellers find it valuable to know if they are priced well, if it was easy to get into the house, if the condition of the house is appealing to the buyers and if not, what could be improved. The Sellers are also asking if the buyers will be making an offer on the property.

Buyer agents often provide the feedback that is being requested from them as a courtesy, but some buyer agents do not. Buyer agents should have a discussion with their buyers and get consent from the buyers to provide the feedback to the listing agent. Feedback is not required of a buyer’s agent. In many instances the buyer may feel that their opinion of the home is confidential or that sharing it could disadvantage them in their negotiations.

In order to increase the chances of getting feedback from a buyer’s agent, the professional assistant should request the feedback soon after the buyer’s visit to the home. Email typically gets the best response and must be requested soon after the showing.

Any feedback that is provided from the buyer’s agent should be delivered to the seller.

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MODULE 4

Real Estate Technology

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MODULE 4 – REAL ESTATE TECHNOLOGY At one time the adoption of technology was an election that some agents made. Now the world is immersed in technology and its use is a seamless part of our consumer’s lives. Use of the internet, productivity software, email and other tools are commonplace. There are still a number of emerging technologies that real estate agents may depend on the Professional Assistant to help them understand and implement in their daily business. Time should be allocated on a routine basis for the Professional Assistant to research and master certain business technologies. The following is a summary of some pervasive technologies that are emerging in the industry.

Cloud Computing Historically business software solutions were applications that were hosted by the physical drive on the computer. These applications were installed and setup on the user’s device and files were also saved on the local hard drive. Today we are entering into a cloud-based world, where the internet is the computer, and we can utilize a variety of applications on the internet. There are two primary advantages to utilization of cloud-based solutions. The first is that there is so much redundancy on the internet, that loss of data for a hard drive failure is highly unlikely. The second value is that more than one user can access applications simultaneously without sharing a physical computer making it easier to share and access common data.

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Internet Based Platforms

More and more internet-based platforms, such as Google Docs, Microsoft Office Suite, the MLS and transaction management systems are being hosted on a website with a variety of updated features.

Users are not burdened with installing updates, worrying about software conflicts, or dealing with outdated versions of software.

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No Local Software

Internet based platforms are becoming widely utilized in the business world and many traditional software providers are no longer offering locally installed versions of their software. With the ubiquity of internet access growing, it’s rare that users do not have access to the systems that they need.

A unique benefit to real estate agents and Professional Assistants is the ability for the assistant to create resources and update them in real time to prepare the agent for their meetings or document needs. A Professional Assistant can create or update a CRM or prepare a listing agreement for an agent just before the agent meets with their client to present the information. Should an agent be in the field and need something, it’s a simple matter for the Professional Assistant to provide it in real time.

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MODULE 4 – REAL ESTATE TECHNOLOGY ▪

Cloud Devices

With the invention of cloud-based systems, has come cloud based operating systems. The host device has minimal hardware devices as it is simply used to access internet-based systems. A popular version of such a device is the Google Chromebook, which runs off pChromeOS, which functions similar to a Google Chrome browser.

Google Chromebooks do have a local hard drive with limited capacity in order to allow the user to work even when not connected to the internet. There is no local software to install or maintain other than the basic operating system which generally requires few updates and does so in the background.

IOT and SmartHomes The Internet of Things (IOT) is a category for internet connected physical devices, many of which are things that you would use every day. Amazon Alexa, Google Home, smart locks, smart lights, and smart appliances are all parts of the Internet of Things. The Professional Assistant will encounter these types of devices as they assist their teams with listings, contracts, and marketing properties. In 202 it is estimated that there are 50 billion such connected devices in the marketplace.

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SmartHome Technology

Enthusiasts of all generations have been investing in various smart devices to implement in their homes. Smart home technology introduces new aspects of selling and buying homes into the real estate industry. With issues ranging from in-home surveillance to new digital access, real estate agents and their teams are finding that they need to create new protocols for showing homes, discussing legal issues with their clients and using new forms to address the conveyance of these technologies.

Artificial Intelligence technology has made our homes more adaptive to our everyday lifestyles. The technology installed in more and more homes is learning our preferences and our lifestyle and anticipating those preferences. Voice Assistant devices will answer our questions, perform actions we’ve requested, and monitor the home to let us know if it’s safe and performing as intended.

Smarthome technology has also created new marketing opportunities and features to promote for homes that are equipped with smart devices. Homes equipped with IOT devices become more desirable by many clients over analog homes. This presents a great opportunity to show up the different features in the home and engage buyers with aspects of the home that we once thought were futuristic.

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MODULE 4 – REAL ESTATE TECHNOLOGY Virtual Worlds Decades ago, writers and movies depicted a future that was in some virtual space utilizing technology.

With the invention of the internet, increased speeds, 3D models, virtual reality goggles and smartphones, we now have an affordable and attainable manifestation of that world that was predicted so many years ago. People are playing games and working in a virtual space through the internet. That technology is also present in real estate.

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Virtual Reality

Consumers have shown a strong desire to look at online listings that have active virtual tours over those that do not. Being able to place the client into the home from the comfort of their own couch while utilizing their own smartphone or virtual reality goggles has greatly enhanced the buyer’s home search experience. There are various tools and systems to host these virtual tours, collect the images and then distribute the tour online. Sellers are seeking agents and their teams that can create this marketing asset and share with potential buyers.

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Augmented Reality

Imagine standing in a seller’s living room and wondering if your couch will fit in the room. How about standing outside of a home and trying to decide how different plants and flowers would enhance the landscaping of a house. What if there was a way to add staged furniture into a listing photo without really hauling borrowed furniture into and out of a vacant home? How cool would it be if you could look through the camera of a phone, choose a colour and see what a room would look like if you had paintedit that colour? Well, that all exists right now.

All these things are possible with Augmented Reality tools. These apps utilize the camera of a smartphone to then add the above items into the photo giving the buyer or seller the chance to see what a particular space, the yard or the entire house will look like with different elements overlaid or added to the property. These tools can be invaluable assets in helping a buyer see a home as their own and helping sellers promote their listings in the best light.

The Professional Assistant can help the agent vet these various tools and devises to know which is valuable to the agent, which services can make the agent and team stand apart and which should be offered to clients as part of the teams value proposition.

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MODULE 5 – REAL ESTATE TECHNOLOGY Big Data For many years businesses, internet service providers, website managers, search engines and software developers have been collecting vast amounts of data from users. This data has shown clear behavioral patterns in online consumers and over time has come to be labeled “Big Data”. Everything from buyer behaviors to the probability of selling a home has been collected by companies.

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Predictive Models

Utilizing tools offered to real estate agents with this big data information can equip an agent to target certain types of sellers, buyers, or other potential clients. Imagine being able to get a report on the most probable home sellers in a neighborhood and what best tactics would affect a business opportunity based on the homeowner’s online activity. Instead of blanket and blind farming efforts among 200 people in a neighborhood, a skilled agent can use information from predictive models and focus on the two most likely sellers in a neighborhood and a much more precise manner.

New marketing services are emerging within the industry that are monitoring all the homes in Canada and looking for patterns and “red flags” that will indicate when a home seller is preparing to sell, when buyers are ready to buy and what the best approaches are to convert those individuals intoclients.

Big Data ▪ ▪ ▪ ▪

Business is moving to a mobile and paperless environment.

Apps are software elements that perform certain tasks.

Most real estate software now has companion apps for mobile access.

App libraries can keep agents and their team organized and working more efficiently.

Customer Relationship Manager ▪ ▪ ▪ ▪

Internet-based.

Allows for the creation and management of marketing and information content for consumers online.

Can be used as an adjunct tool for consumer and client management.

Often as “calls-to-action”, forms, posts, and pages to assist the agent with soliciting new business and managing current client engagements.

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MODULE 5

Preparing for Client Interviews

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS

Every battle is won before it is fought.

-Sun Tzu

Throughout this course we have equipped the Professional Assistant with tools and resources to assist their team with creating new client opportunities, but getting that opportunity is only part of the process.

Now, we’ll review how to equip and support the Professional Assistant’s team with processes and resources to help the team win the opportunity and create clients who trust them and select them with their buying and selling journey.

Being Prepared Every appointment that an agent goes on requires some degree of preparation. Busy agents and teams will depend on the Professional Assistant to prepare the various resources and tools they will need to have available. Many agents will also depend on the Professional Assistant to assist them in making appointments and managing their calendars.

In order for the team to function at its optimal performance and to have the highest chance of success in converting a consumer to a client, the team will need to be prepared.

In the case of listing appointments, a properly delivered digital or analog pre-listing packet as well as other online resources being in place may win the listing before the agent even enters the door.

Setting Up the Appointment & Managing the Calendar Setting appointments and managing the team’s calendar is often a task left to the Professional Assistant. Ensuring that the team is where they are supposed to be on time and prepared will be an important function. The team should consider a shared calendar system that can often be found in client management software or in email systems.

Coordinating meetings, follow up campaigns and the various vendors will require a systematic approach on behalf of the team. Using meeting arrangement software apps can reduce a lot of backand-forth communications and also make the agent appear organized and professional.

Once appointments are made, following up with all parties to confirm dates, times and locations will help resolve conflicts and misunderstandings leading to a much smoother first engagement.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS Pre-Meeting Research An informed agent is an agent at the top of their game. Spending a little time before each appointment collecting data to equip the agent for their meeting will impress clients, prepare the agent for the best approach at their appointment and may reveal risks or conflicts with the upcoming meeting. For a listing appointment there are a few online tools that should be utilized in preparation for the meeting.

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Google

Doing a quick Google search of the property and the seller’s name can potentially uncover information about the house or owners that could reveal safety issues or material issues that a future buyer could find and that an agent should be prepared to address. These searches could reveal foreclosures, crimes or tragedies that have happened on the property, factors about the community or the home that a buyer may consider a reason to not purchase the property. Searching the seller’s name may reveal personal information such as arrest histories, conflicts, newspaper articles or other information that could be considered a risk for the agent.

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Real Estate Aggregator Sites

Buyers and sellers commonly search their address on the various websites that buyers use to look for their homes. Some of these popular websites also create estimated values of a property. Checking the seller’s address in these sites prior to the appointment may reveal to the agent the sellers own efforts to sell the home as an unrepresented seller, or the aggregator’s estimated home value that may be higher or lower than the agent’s market analysis of the property. If the site’s estimate shows the home valued higher than the market analysis the agent will need to be prepared to show why their analysis is more accurate. If the price is lower in the aggregator site, the agent will need to try and make adjustments on that site and defend the asking price to buyers who are depending on the site for a recommended contract price.

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Tax and Public Records

A review of the public records on a property before a listing appointment may reveal that the person scheduling the showing isn’t the actual owner or that the property is the name of a prior spouse, etc.

Public records will also provide valuable information about square footage, lot size, foreclosure information, liens, or zoning issues. Sellers may not be aware of negative issues in the public records or they may have made improvements to the property without getting the proper permits.

Reviewing the public records will prepare the agent for any obstacles that may exist in selling the property or getting inaccurate information adjusted prior to listing.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS ▪

Prior MLS History

Doing a property search in the MLS will allow the agent to know about prior listing efforts or sales information that could assist in adjusting their strategies with the sellers. If the sellers have tried to previously sell unsuccessfully, the prior marketing strategy may be a clue found in the MLS. Prior sales history and photos, videos or virtual tours can give the agent a strong sense of the different aspects of the subject property before they meet the sellers.

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GeoWarehouse

GeoWarehouse is a web-based, centralized property information source that provides state of the art mapping and research tools as well as professional reports. GeoWarehouse services real estate professionals across Ontario.

GeoWarehouse subscribers can create a comprehensive property report that provides an overview of the property, property details from Land Registry & MPAC, includes demographics data, and more. A comparable sales report that is sourced from Land Registry data is also available. This report includes all sales in the selected area including FSBO, Exclusive, and Builder deals.

The Online Persona Many consumers do an internet search of the agent prior to their appointment. The consumer is interested in the agent’s prior business, online reviews, samples of their marketing, their bio and much more. What consumers may find about an agent online is referred to as the “online persona”. Agents will frequently be judged based on the totality of their online business profiles.

Consumers will make judgement calls about an agent and will review the quality of an agent’s own marketing efforts as an indicator of the agent’s professionalism and ability to market their home. If the consumer does their online search and finds incomplete bios and no professional headshots on commonly used aggregator sites or well-known real estate platforms it could cost the agent an opportunity to work with the client.

Professional Assistants should make a practice of doing internet searches on each agent of the team in order to address any negative results that appear or any incomplete profiles that need to be updated.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS Interview Kits During the course of their careers real estate agents will hold countless interviews and new client meetings. A way that agents can distinguish themselves from competitors and impress their clients is to have professional pre-meeting and meeting packets that host a variety of information. Very often a buyer or seller will meet with or speak to multiple agents during their buying or selling journey.

A valuable resource for the Professional Assistant to manage will be buyer and seller interview kits.

These are usually a collection of documents, digital assets, and presentation materials that the agent utilizes to connect a consumer to the agent’s value.

Agents often find it challenging to find the time to create these meeting packets or to gather them before each meeting. A professional assistant can help an agent win new business by creating, maintaining, and preparing pre-meeting and meeting packets. An example of a digital pre-meeting packet can be an email with information for the client and links that lead them back to an agent’s website which could have videos, information, and downloadable materials for the consumer to review.

Listing kits are usually more resource intensive as there are a myriad of marketing assets that need to be demonstrated to the seller as the agent attempts to persuade them to hire their team to market and negotiate the sale of their property. Buyer kits still need to have the same professional appearance and resource to help the agent start off in a professional manner and earn the trust and business of the buyer.

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Digital Interview Kits

There is not always time to create the interview kits before a meeting. Some clients may have an urgent need to sell, or a buyer may call that morning wishing to look at a particular home that afternoon.

Having a variety of pre-meeting kits already created with generic assets is better than having no resources available at the first meeting at all.

Professional Assistants should seek out dynamic and well created resources and store them on a cloud-based system (such as Dropbox) so that an agent can quickly access those tools on the go. If the agent is having a busy day, they may not have time to run by the office and pick up a printed interview kit but could use their tablet or laptop to utilize these resources in their client presentation.

The assets can then be emailed to the client after the meeting for their future reference.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS Pre-Meeting Checklist An organized and structured approach to all things pertaining to the agent’s business will help the agent deliver a more professional presentation. To ensure that the Professional Assistant and the agent are on the same page, as well as ensure that the Professional Assistant is meeting the expectations of the agent, both should work together to create a checklist to be completed before each meeting.

A sample pre-meeting checklist looks like this: ▪

Confirm appointment time, date, and location with client

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Send pre-meeting email with video introduction

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Google the address

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Google the seller

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Prepare GeoWarehouse report on the property Add client to appropriate email campaign

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Setup listing presentation asset

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Print and prepare CRM • • • • • • • • •

CRM report Agent brochure Agent resume Tax record Listing agreement Marketing plan Home warranty application Client references Samples of past work, such as homebooks and listing brochures

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS Pre-Meeting Emails In order to bring all of the above assets together, a library of emails may be created to herald the team’s value before the first meeting. Various email clients host libraries of email templates in various ways and those template systems should be utilized to easily save and send pre-meeting emails to the client. The emails can be treated as a sort of digital pre-listing packet and draw the client back to the agent’s website and serve to set the expectation of the meeting. Asking the client to participate in the meeting by gathering a few things beforehand will also connect the consumer in the process by having them invest some time in their own preparation. A properly crafted pre-meeting email can really show how professional, organized and unique the team is as a partner to the buyer or seller.

Example of Listing Pre-Meeting Email

Thank you for agreeing to meet with me about partnering with you to sell your home!

I'd like to confirm that we're meeting on [date] at [time] at [location] . If this meeting is going to be a virtual meeting, you’ll want to make sure that your computer has a microphone and camera. I will be using a platform called Zoom. You can setup a free account at Zoom.us and test your computer before our meeting.

I know that you've been putting a lot of time and effort into the decision to sell your home and preparing for that seemingly herculean task. I wanted to take a minute to introduce myself and also to make sure that I equip you with some things to help you in this process. A little further down, I'm going to also ask for a few things in return so that we ensure that we both get the most out of our first meeting together.

Choosing the right agent is not only essential to protecting your investment, but also to giving you the best chance for a smooth transition from your current home to your next adventure.

Next, please visit [agent website with video or written introduction] to get to know more about me, so that I can spend more time getting to know you when we meet.

I've also set up a resource page for you as a seller and you can find it here: [agent website with list of seller resources] When we meet, I'd like as much as time to be dedicated to listening to your needs as possible. To facilitate that, I'm going to ask you to review a few things online to prepare for our meeting. Please plan for about 1 to 1 and 1/2 hours for us to discuss your needs and explore if we're a good team to reach those goals.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS

Example of Listing Pre-Meeting Email – continued

This first meeting is to gather additional information about your needs, more information about your home and to then set up a second appointment in person, online or by phone to deliver a final market analysis for the appropriate marketable asking price, a unique marketing plan for you and a communications plan for partnering to sell your home.

Before we meet, I’d love for you to write a brief email or letter to potential buyers about why you bought your home and what you have enjoyed about living here.

I’m also attaching a list of properties that have recently sold or are for sale in your area. I’d like for you to review them and let me know if have any information about the homes that I’ve included. How do they compare to yours and is there any “inside” knowledge that you may have as a neighbor.

Additionally, it would be beneficial to have the following items ready when we meet if they are available: ▪

List of utilities, the utility company, and average monthly expense numbers

▪

Copy of Homeowner Association documents if available

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Copy of your floor plan and/or property survey

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A brief list of your favorite aspects and features of the house

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An inventory of the SmartHome devices and appliances that you intend to leave when you sell your home

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Your Story about your home, why you love it and what the buyers should know about the home.

We’d love to get a collection of photos of the home in various seasons of the year to help with our promotion.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS

Example of Listing Pre-Meeting Email – continued

And lastly, if you have any SmartHome devices such as audio or recording devices, please watch my video on what homeowners should know when selling their home.

Here’s what some other Sellers have shared “[Testimonial from one past seller]” – (client name) “[Testimonial from second past seller]” –(client name)

[End of Email Example]

Agent’s Website as a Meeting Resource The agent’s website can be a useful host of hub for all the agent’s resources and tools. Sending information ahead of the appointment from the team’s website will prompt the potential client to engage in other aspects of the website and become more familiar with the agent’s value proposition.

Some valuable information on the agent’s website can include:

Video Intro

A nice video of the agent or team discussing their value to a consumer and identifying who they are as a brand can impress clients and break the ice with them before the agent even arrives for their appointment.

Tools for Clients

During the course of the transaction there are a variety of online tools that agents can offer their clients to make the transaction go more smoothly for them. Things like home-search apps, paint colour apps, crime province websites, community and school information and augmented reality apps could help the clients along the way and introduce them to useful resources they didn’t know were available.

Testimonials

We’ve become a society that values the opinions of others who have used a service or bought an item that we are considering investing in. Our potential clients will find it useful to hear what other consumers like themselves find valuable about associating with your team in the future. Testimonials, especially video testimonials, have proven to be very important and valuable client conversion tools.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS

Market Information

As consumers we can never seem to get enough data. Both buyers and sellers have a keen interest in knowing what is going on in the world around them. With projections and historical data, a good market conditions report can make a client feel more secure in the decisions they are making related to buying or selling a home. GeoWarehouse is a great tool for quickly generating detailed and meaningful reports.

Unique Value Proposition or UVP are those sets of characteristics that make your team different than other teams. Remember that consumers may often research the Unique Value agent before the meeting. Establishing a value proposition on the website could Proposition uncover niches or traits of an agent that the client wasn’t anticipating but may find is precisely what they were looking for in an agent.

Agent Biography

Agent agent’s biography, both written and video, is best crafted with the client as the protagonist and the agent as the guide or advisor that can assist the client and their family in buying or selling a home. Structuring the agent’s experiences and personality around why it’s valuable to the consumer will keep the consumer engaged and will avoid any inherent self-aggrandizing that may be off-putting to the consumer.

Other Items to Consider and Check Before the Meeting ▪

Create Content to Send Ahead

You can also create content to send to the client in advance of the meeting. This targeted content can also serve to differentiate the agent from competitors and demonstrate their professionalism and expertise. Some examples include: ▪ ▪ ▪ ▪ ▪ ▪

▪

Home Surveillance Regulations Staging Ideas Importance of Target Marketing Showing Safety Tools to Help with Move Pets and Home Selling

The Agent’s Bio: Written & Video

Make sure that the agent has an updated bio easily accessible on the website and in print format to put in the pre-meeting packet. A short video introduction done by the agent is also a nice touch that can help differentiate them and add a personal touch.

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS ▪

Agent Online Profiles

Make sure that you review the agent’s online profiles on the primary real estate websites. Populate these profiles with as much information as possible, including a current agent photo. Consumers will be looking at this information.

▪

Agent Reviews

It is also recommended that you consistently check agent review sites to keep up to date of what consumers and clients are saying about the agent or team. Some of these include: ▪ ▪ ▪ ▪ ▪ ▪ ▪

RateMyAgent.com Zillow Realtor.ca Video Testimonials Google Business Yelp Others

What to Prepare for the Agent As we discussed earlier, the meeting packet includes a variety of essential items. One of your responsibilities will be to make sure that current information is readily available and included in the kit.

Some of these items include: ▪ ▪ ▪ ▪ ▪

Agent Resume Homebook Samples (from previous listings) GeoWarehouse Report List of Comparable Properties Estimated Closing Costs

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MODULE 5 – PREPARING FOR CLIENT INTERVIEWS

Write down a list of ways that your agent can stand-out from other agents during their listing appointment.

EXERCISE List of ways that your agent can stand out during their listing appointment:

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MODULE 6

Exceptional Customer Service

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MODULE 6 – EXCEPTIONAL CUSTOMER SERVICE Think back… when was your last truly exceptional customer service experience? When was the last time that you were surprised by a company or service provider that did something so extraordinary that you needed to share it with others?

Customer service is an art, and it takes time to understand who our consumers are, what they expect and how to exceed it. Customer service is what brings past clients back to the agent or team and what encourages them to tell others about the experience they had when they sold or bought a home with a real estate agent.

Client Retention Plans Successful agents are intentional about cultivating long-term relationships with their clients. Systematic and purposeful customer service techniques will ensure referrals and positive reviews from past clients which will help the agent build a solid client base and sustain their business for a long time.

“People who connect and build fluid relationships are trust agents.” (Chris Brogan) In today’s online-review world, a client’s positive or negative opinion of an agent is no longer limited to just the client’s friends and family but will be shared online where many prospective clients and customers will find it for a long time to come.

Client retention plans include a variety of techniques including something as simple as a warm reception area at an office, being extraordinarily responsive to phone calls, emails, and requests by the consumer as well as ongoing things like follow up calls after a transaction.

Imagine walking into an office to meet with an agent for the first time and expecting to review some listings, get in a car and go see a home. That’s what one would except, right? What if that same buyer walked into a well-designed and contemporary office space, was offered a variety of drinks to choose from, was given a welcome basket with a variety of locally produced goods, a list of recommended restaurants to visit while they are in town, tickets to the local museum and a tour of the town before they just ran out to look at homes. That’s setting up an extraordinary first impression.

Some connectors that could be used to build a great impression with a client are as follows: ▪

Handwritten notes for a variety of reasons

▪ ▪

Pre-meeting gifts Annual “pop-by” gifts that provide a reason for the agent to stop by and visit

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Routine phone calls for non-transaction related check-ins

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Providing client with a “checklist” of fun things to do with their family

▪ ▪

Gifts cards for random life events, like puppy adoption or closing anniversaries Gift baskets at closing or on the anniversary of a closed transaction

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MODULE 6 – EXCEPTIONAL CUSTOMER SERVICE Online Reviews

Do what you do so well that they want to see it again and bring their friends.

-Walt Disney

The internet has created a world which has convinced us that our opinions matter and are valued by some. There is strong impetus for many to find outlets online to give our opinions about the customer service we’ve experienced with various brands. For many, the online review from others reflects the type of experience they can anticipate in their own engagement with a firm, agent or brand.

The numbers related to online-reviews and reputation management speak for themselves.

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93% of consumers influenced by online reviews

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97% of consumers read online reviews before engaging a local business

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91% of Gen X/Millennials trust online reviews as much as they do a personal recommendation

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A negative review is estimated to cause a loss of 22% of potential business opportunities

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On a 5-star rating scale, consumers tend to avoid businesses with lower than a 3.5% rating

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68% of consumers say they will leave an online review if asked

Online Review Sites There are a variety of popular online websites that agents can use to build positive reviews.

Professional Assistants can provide a valuable service by managing, monitoring, and soliciting feedbackonline. This is called ‘reputation management’ and can gain the agent business opportunities over time.

▪

Agents Need to Claim Their Profiles

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MODULE 6 – EXCEPTIONAL CUSTOMER SERVICE on the major sites will also result in notifications from those sites when reviews are given. If the result is positive the Professional Assistant can use the review to promote the agent or team. If the result is negative the agent or Professional Assistant can engage the negative review and show that the agent is monitoring their online reputation.

Engaging negative reviews should be done quickly after they are posted in a positive and professional manner. Remember that future clients will be reviewing those reviews and judging agents on how they responded. A defensive or angry response will reflect poorly on the agent, but a professional and timely response could negate the impact of a negative review on future viewers.

Utilizing tools like google.com/alerts will allow the Professional Assistant to setup daily automated searches on the agent and team’s name so that if there is a negative review or mention on a website it may be brought to the attention of the team for a response.

The following is a list of commonly utilized online feedback sites, which agents should claim their profile on. They have the added advantage of promoting the agent’s name and brand.

▪

Google.com/business

▪

Yelp.com

▪

Ratemyagent.com

▪

Realtor.ca

▪

Zillow.com

Clients Need To Be Asked For Feedback Consumers are accustomed to reading and giving feedback on merchant sites like amazon.ca, but they may not be considering the benefit an agent could realize by having positive feedback on the various sites mentioned above.

At the end of each transaction, those clients whom the agent feels would be good candidates for providing positive feedback should be formally asked. Agents or the Professional Assistant should email the client thanking them for choosing the agent or team to assist them in buying or selling their home. Then the client should be asked to take a moment and provide positive feedback on whatever platform the team selects for that client. Encourage the client to give the feedback by letting them know how much it will help the agent in the future.

Some professional marketers suggest rotating which platform to ask for feedback on, as most clients are only going to provide feedback on one site, but eventually the agent will want several positive reviews on a variety of sites.

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MODULE 6 – EXCEPTIONAL CUSTOMER SERVICE

Write down some ways to help share a positive online persona of your agent and/or their team. What are some ways that persona can be shared online?

EXERCISE

How can you help share a positive online persona of your agent and/or their team?

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MODULE 7

Managing the Transaction

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MODULE 7 – MANAGING THE TRANSACTION The real estate transaction can be a complex series of variables based on the necessity of action for each transaction. No two transactions are exactly alike. There are common steps involved in each transaction, but the personalities of the parties, location of the property, formation of the contract, repairs and vendors needed can all add up to each transaction being unique.

What is common in each transaction is that organization and communication is needed. The Professional Assistant will be called upon to manage each transaction like a conductor in an orchestra.

The Transaction Cycle From the first meeting with a client and until after the clients have moved into or out of the property, there are several stages which we call The Transaction Cycle. Each stage triggers a different setof actions and engagements with the clients.

Communication is Key For a seasoned real estate agent, the Transaction Cycle is routine, but for a client all these steps and processes can be overwhelming, and they can feel lost in the process. Routine and clear communications from the agent and Professional Assistant will help to disperse their anxiety and increase the client’s trust in the team. Utilizing the tools outlined in Module 11, the team can build a strong action plan to keep everyone informed.

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MODULE 7 – MANAGING THE TRANSACTION Create Checklists Creating checklists is essential to keep everyone on track. A few essential checklists you should have include: 1. Listing Checklist 2. Buyer Checklist 3. Ratified/Accepted Contract Checklist We have created sample checklists for you and included them in the Appendix.

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MODULE 7 – MANAGING THE TRANSACTION Communications Tracking The need for organized and constant communication does not end with the client. The cooperating agent, vendors and service providers that are involved in the transaction will need plenty of follow up as well.

The Professional Assistant should be diligent in documenting each communication with all the parties so that the agent, team and assistant always know what has been said and what needs to be communicated to all of the parties in the transaction.

Many transaction management systems and CRMs have the ability to establish a communications log, but if they don’t then a simple Google Doc spreadsheet will suffice.

Example: Date

Time

4/11/2020 2:34 p

Platform

Phone

Contact

Notes

Sammy Seller

Spoke to Mr. Seller and asked for his preferred septic company.

He advised that ABC Septic services should be called.

4/11/2020 2:48 p

Website

ABC Septic

Ordered septic inspection from ABC Septic. Received email confirmation for order. Inspection to be done on 4/14/2022 in the afternoon

4/11/2020 3:18 p

Text

Sammy Seller

Notified Mr. Seller via text that the septic inspection has been scheduled.

Ronnie Realtor

Emailed Ronnie that the septic inspection has been scheduled and asked him to let his buyers know in case they wanted to be present.

4/11/2020 3:31 p

Email

4/11/2020 4:11p

Transaction Management

Added the inspection to the team calendar and client record.

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MODULE 7 – MANAGING THE TRANSACTION Managing Inspections Depending on your provinces regulations and the broker’s policies, Professional Assistants and agents may take on the responsibility of managing the inspections and repair providers that are utilized in a transaction.

When applicable the Professional Assistant should ensure that any vendor that is being recommended by the agent for the client to use, or that the client has selected is licensed, insured, and certified in the field which they are being hired to perform. A client may wish the most inexpensive vendor to perform an inspection, but the vendor may not have the qualifications necessary to meet the obligations of the contract or the provinces law.

Additionally, there are a few considerations that should be made when managing inspectors.

▪

Who orders the service necessary to meet the obligations of the contract? Often the agent and their team take on the role of ordering these inspections, but the client may wish to manage this themselves. Communication between the team and client should be established early in the transaction and should include who is to order which inspections or repairs.

▪

Deadlines and contract contingencies will often dictate who is being hired to perform the necessary inspections or actions as outlined in the contract. Upon ratification of the contract, the Professional Assistant should enter all the contingency and deadline dates in the team’s transaction management system or shared calendar and setup reminders in advance of the deadlines to ensure that nothing is missed.

▪

Communicating with all parties will be important when managing inspections. For example, buyers like to know that progress is being made and in the contract, they may have a right to be present forsome inspections. Sellers will need to be communicated with when buyers schedule a home inspection so that the sellers can make arrangements not to be home. Lenders, buyers, sellers, cooperating agents and other parties will need to be made aware of the progress of inspections, repairs, and certification of certain aspects of the house as the transaction progresses.

▪

Reports are often necessary in real estate transactions to allow third parties to certify or provide evidence of the condition of the house, the property or requirements for condo and homeowner associations. Very often the contract outlines required delivery dates for these reports. The Professional Assistant should coordinate the delivery of these reports when appropriate and be careful to document who they were given to, when and by what means. In other instances, the Professional Assistant may need to request these documents if the cooperating broker hasn’t yet delivered them within the time frame. Those requests should also be documented.

▪

In some marketplaces it is common for the buyers and sellers to write agreements for repairs or improvements that are to be made to the property as part of their contract agreements. It may be incumbent on the Professional Assistant to coordinate all the vendors necessary to complete the repairs or improvements and to communicate with all parties the state of the work to be done, as well as collect and deliver receipts, permits or other evidence of completion in accordance with the promises made by their clients.

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MODULE 7 – MANAGING THE TRANSACTION Communicating Processes Many of the things that need to be tracked, ordered, delivered and communicated to the parties are reoccurring activities on behalf of the agent and Professional Assistant. Setting up processes and tools to keep track of these processes is important, but clients need to be kept in the loop and part of the process should be the creation of a library of emails to help keep everyone informed.

Here’s an example of a post ratification email for a seller:

Example of Post Contract Ratification Email Congratulations

we’ve ratified a contract on your home!

Buyers: Buyer’s Agent: Legal Company: Closing Date: Ratification Date: (conditional period) Ratification is the process of verifying a contract in which all parties have agreed to all terms. The ratification of the contact triggers several things to occur: The status of your listing has been changed from an active listing to "sold conditional" in the multiple listing service.

I will be uploading copies of all related documents to Docusign Transaction Room. You will receive an email with instructions on how to review those documents. I suggest downloading your own copies of all documents for your personal records.

I will be working diligently in the background to schedule things on your behalf, work with the buyer’s loan officer, the settlement attorney, inspectors, etc. You will get emails, texts, or phone calls from me as things come up where I need your input or documents signed.

The Buyer’s Agent will deposit their deposit cheque with the brokerage, process their paperwork, notify the buyer’s loan officer and the legal company.

The Buyers will schedule their home inspection, if listed in the contract. They have until 9pm on the last day of the contingency to let us know if a.) they wish to accept the property as-is and move on, b.) they wish to negotiate repairs or credits or c.) void the contract. The choice to negotiate or void is solely at their decision. If they elect to negotiate repairs, then we will need to act quickly to review the list and decide how to move forward.

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MODULE 7 – MANAGING THE TRANSACTION Example of Post Contract Ratification Email - continued

DO NOT turn off utilities at this time if you’re moving out before closing. Please leave them on until at least the day after the closing. The contract requires you to have utilities on and it’s safer for your home to do so.

Our next responsibility is to order Wood Destroying Insect (Termite), Well and/or Septic inspections if your contract requires you to do so. Often, we’ll need to schedule a septic tank clean out. If you have preferred vendors for these tasks, please let me know. If you need a service provider, you can always find a list on my website here: [link to agent’s website with list of available vendors] If the provider you need isn’t on the list, then I’ll help you find someone.

If you live in a Home Owner’s Association, you and I will coordinate ordering the HOA documents.

That should be done soon, but we typically don’t deliver them to the buyer until after the home inspection has been finalized. Remember that the buyer has the right to void the contract any time before delivery of these documents and up to three days after delivery.

You will generally only receive information about the closing from me, but sometimes the legal company will send you information directly. If they do, please let me know so that I can ensure that we’re all on the same page.

An appraiser will be contacting either you or I to schedule the appraisal of the home. If they call you, please email me and let me know who the appraiser is and when they are scheduled to come out.

Other things will come up, but this is a general overview of what to expect over the next few days. I’ll be here the entire way to keep you up to date, ensure the process is moving along well and ensure that your questions are answered.

As always, if you need me, please let me know!

[End of Email Example]

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MODULE 8

After the Transaction Has Ended

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MODULE 8 – AFTER THE TRANSACTION HAS ENDED The settlement of a property is only the end of that transaction for the client. The relationship with the client must continue after the transaction to ensure that the agent remains at the top of mind for a client’s future business and referrals.

Post Transaction Action Items Once the settlement has ended and the settlement service provider has recorded the dead, there are still a number of action items for the Professional Assistant to perform. Closing out the transaction properly for the agent and client can help with liability issues and also with client re-engagement at a later date. If the buyer your team just assisted in purchasing a home wishes to sell it a few years later, being able to pull up all of the files for this current sale could be very beneficial. Additionally, should there be any regulator complaints or legal actions in the future, a well-organized and properly closedout file will go a long way to helping any attorney working on the agent’s behalf.

Here is a list of some of the post-transaction processes: ▪ ▪

Turn in all documents to the broker Submit the commission request form

▪

Save all emails, texts and correspondence to the final file

▪

Add client to a long term follow-up plan

▪

Send request to the client for an online review of the agent

Post-Closing Letters Hand written letters are always considered to be a thoughtful effort by the recipient. Draft a letter on behalf of your agent or team and sign it on behalf of the team. The letter should thank the client for choosing your team and for the referrals that they’re sure to give you in the future.

Create a standardized letter for all past clients reminding them that some of the costs associated with buying or selling a home could be tax deductible. At the end of each transaction, place that letter with a copy of the settlement statements and place them in a box. In February of each year, just before tax season, mail all of the letters out to the clients that have worked with your team during the year.

Closing Gifts It is customary for agents to give closing gifts to their clients as a thank-you for choosing the agent and working with them. Some agents elect to give these gifts after closing as a reason to re-engage the client and let them know that the agent didn’t forget about them after the closing. Other agents like giving the gift during the closing. Regardless of which option is chosen making the closing a

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MODULE 8 – AFTER THE TRANSACTION HAS ENDED celebration is a great way to get the clients excited. A bottle of wine, some balloons and other little touches can make the closing more memorable. The closing gift can be given then or later.

The cost and types of gifts given vary from agent to agent. Often the more thoughtful the gift the greater the impact. Closing gifts that are related to the local area or from some memorable moment during the buying and selling process often have the best return on investment.

Write down some ideas on what can be done at the end of a transaction to encourage referrals from the client.

EXERCISE

What can be done at the end of a transaction to encourage referrals from a client?

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MODULE 9

Time Management

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MODULE 9 – TIME MANAGEMENT

Time needs to be managed, and not allowed to manage you.

The Professional Assistant will be tasked with a large number of duties, and often they will all carry a sense of urgency. It can be very easy to become overwhelmed or to feel that you’ll need to work a lot of hours in order to keep up. The Professional Assistant and their agents or team should spend some time discussing how to handle the workload and what resources will be needed for everyone to be more efficient.

Health and Work-Life Working long hours can have a very negative effect on a person and their work output. Experts say that most workers are only truly effective about 35 hours per week. Other negative effects could include depression, damage to the body if one is working extended hours and a chance of cardiovascular issues increase 60% with prolonged work experience that includes more than 10 hours per day.

Most experts agree that a healthy sleep routine, exercise and good diet will keep a worker at peak performance and greatly reduce stress.

Managing Tasks As you can see from the content of this training program the Professional Assistant is trusted and depended upon to support the agent and clients of the team. A variety of tasks will greet the Professional Assistant each day. Some of these tasks will be driven by the demands of a transaction or need to solve problems. Other tasks will be self-driven where you get to control your day and invest time in developing new tools or resources for the agent.

Starting off each day making a list of the tasks to be performed and then addressing each task based on their priority will become a routine soon enough. The Professional Assistant should adopt a “touch it once” approach to their day and work every task to completion before moving on to the next. It can be hard to control your own schedule, but as much as the demands of the day and the agent will allow, you should be intentional about sticking to one task at a time.

Chasing Little Red Dots We’ve all seen kittens scurrying about and frantically trying to catch the red dot as their master holds a red laser pointer and moves it about the room. We, as a culture, have become those kittens and the red dots are the alert notifications hovering over the badges of text message apps, email, apps, social media sites and so many other things. We’ve allowed those notifications to take us away from our primary tasks to see what is needing our attention. There are a few techniques that can help reduce the distractions of little red dots.

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MODULE 9 – TIME MANAGEMENT ▪

Using professional email systems like Google’s Gsuite or Microsoft Office 365 will allow you to sync all email clients across your laptop, cloud-based email clients and mobile devices so that duplicate efforts do not need to be made on each device. These systems will also feature some tools to help keep you and the agent informed and synced across your platforms.

▪

Specific time should be set aside throughout the day to check email and messages. The entire day cannot be spent only answering emails.

▪

Inbox Zero is a very popular business practice among high-performing professionals. The concept is that at the end of the workday all emails in the ‘inbox’ of your email account should be addressed.

Once an email is responded to, it should be moved into the appropriate folder or deleted. The email user must diligently unsubscribe to all marketing and unrelated email campaigns and block spammers to reduce their future email efforts. Keeping up with Inbox Zero is a tough discipline to master at first, but once you have it will significantly reduce the anxiety of full inboxes and increase your proficiency.

▪

Be mobile. Every tool the team uses should be a cloud-based system when at all possible and the corresponding apps should be installed and setup on all team members mobile devices. In the current age of technology there is little reason for anyone to be chained to a desk and having to “get back to the office” should never be a barrier to getting information or work done in a timely manner.

▪

Intentionality will also serve the purpose of proficiency. Many people believe that they can “multitask”, but research has shown that multitasking is merely taking part of your attention away from a single task at a time and reduces overall productivity by 40%.

▪

Own your calendar. It is very easy for people to try and relieve themselves of their burdens by placing them on others. Vendors or clients may ask for you to do things that are their responsibility and not what you or your agent is expected to do. It is ok to say no and obligate people to carry out their own responsibilities. When making appointments or agreeing to commitments for the Professional Assistant or their agent, reasonable time should be built in to complete the task and to travel back and forth. If appointments are “squeezed in” to an existing schedule, then one meeting that runs too late will throw the rest of the day off and inconvenience many other people.

▪

Offices must be organized. Disorganized work spaces have been proven to induce anxiety and stress well beyond the normal demands of a day. Nearly no one wishes to enter a messy or disorganized workspace at the beginning of each week or day. Documents, files, records, and otherpapers should be scanned and stored in the appropriate folders on the cloud or computer throughout the day. Many people believe that they know exactly what pile things are located on their desk/offices but looking for items in a disorganized space can take up to 30% longer to find than when things are organized. That means nearly a third of your day could be spent looking for things instead of being productive.

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MODULE 9 – TIME MANAGEMENT

Write down at least one new practice that you will implement to make yourself more efficient.

EXERCISE

What is one new practice that you will implement to make yourself more efficient?

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MODULE 10

Marketing, Branding, and Creative

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MODULE 10 – MARKETING, BRANDING and CREATIVE

We need to STOP INTERRUPTING what people are interested in and BE what people are interested in.

-Craig Davis

Marketing Is A Conversation Every memorable ad that you’ve ever seen spoke to you. It made you feel something. Marketing is a conversation. How a communications and marketing plan affects the receiver requires training and understanding of who your consumer is and what reaction you are trying to solicit from them. The following section will equip professional assistants with one of the most sought-after skills that a real estate agent will have. A professional assistant who can assist the agent with branding and marketing increases their value by becoming an income generating resource for the team.

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Brand Marketing

The real estate agent and their team are a “brand”. They are an entity that people should be seeking to do business with.

There are different types of marketing in the career of an agent. Brand Marketing refers to the efforts that an agent makes to reach out to clients and ensure that they are aware of the agent, the team, and the services that are offered. The goal of Brand Marketing is to connect the team’s identity, personality, and value.

The Consumer Effective marketing campaigns begin with knowing and identifying who the intended audience is. A common error by real estate agents is trying to develop a marketing campaign or market plan that reaches a wide range of consumers. Marketing plans that yield the best results are designed around specific consumer personas. Consumer personas are developed by identifying a specific demographic and particular traits unique to that consumer demographic so that messaging can be designed to that particular target.

A 35-year-old home buyer and a 60 year old home seller are two very different types of consumers and separate marketing campaigns should be planned and designed around each type of consumer.

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Consumer Personas

Many marketers across various industries begin designing their marketing campaigns by identifying a type of consumer and then creating a model of them in order to remind themselves of the client’s buying habits, transaction journey and typical behaviors.

Using tools made specifically for profiles of Home Buyers and Sellers and GeoWarehouse (www.geowarehouse.ca), agents and professional assistants can easily discover exactly how specific types ofconsumers behave. From that data the marketer can extrapolate a projection of the consumer and draft a Consumer Persona.

Example: “Kayla and Kyle are 24-year-old first time home buyers. They have been married for 2 years, have careers in retail and graphic design with steady incomes. They have a 1-year-old daughter named Kenley. They have a 2-year-old golden retriever name Kupcake. They have been researching online for their purchase for 13 months, using Google, Zillow and a variety of mobile apps. They are preapproved through True North Mortgage and have visited a number of open houses.”

Now that you have identified the type of buyers that are common in your marketplace or the types of clients that are relevant to your niche, you should give them a story to make them human. You can now reflect on this Consumer Persona when developing a marketing plan and decide if the type of graphic, platform, verbiage, or call-to-action will connect with this specific consumer. What do you needto change in your communications or resources that will encourage these clients to connect with your Brand?

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Calls To Action

A call to action is an instruction or solicitation for a consumer to engage in your business and typically it follows some offering or branding awareness marketing effort. It can be an instruction to “subscribe” to your social media network, “call” the agent or team for more information or “act now” to benefit from some new offer.

The marketing message should be so compelling and engaging that the consumer feels that acting now is an essential thing to do. People often will only take an action, such as subscribing to your YouTube channel or Facebook business page if they are asked or reminded to do so.

Agents and teams should be constantly working to build their consumer following. Having consumers visit your website, follow your blog, signup for your email, and other resources helps you build your following and keeps the agent at the top of mind for the consumer. A solid call to action could trigger a ready seller or buyer to engage your agent at the moment that they need representation.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Google’s Zero Moment of Truth

In 2011 Google established a concept called the Zero Moment of Truth or ZMOT. This is the moment that a consumer reaches a product or service prior to the point of engagement. For real estate agents this is very often their online persona.

The buyer or seller will find a myriad of service providers and entities in their buyer or selling journey.

98% of consumers utilize the internet as part of their process and begin that research process online.

The first step in ZMOT is the stimulus. A buyer or seller decides that it’s time to buy or sell and then they take to the internet to research the process, prerequisites, how to choose an agent, etc.

The Zero Moment of Truth is when the consumer sees the service provider, in this case the agent, online through the agent’s video, website, prior client reviews, social media or other online marketing assets that the agent has. This ZMOT is an important moment for client engagement. Real Estate consumers are choosing what agent they’ll reach out to based on the agent’s online presence.

The First Moment of Truth comes after the consumer has chosen to meet with the agent based on the agent’s Zero Moment of Truth online. The First moment of Truth is the physical meeting. The consumer is looking to see if the agent delivers on the persona they’ve projected online.

The Second Moment of Truth is the consumers actual experience with the agent and how the agent performs representing the client in their transaction.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Prospecting Prospecting refers to the agent’s efforts to find new clients to work with. The agent uses a variety of tools and resources to engage prospective consumers and encourage them to reach out to the agent for their real estate needs. Prospecting isn’t one tool or resource; it is the act of proactively marketing to consumers.

Agents will often choose a specific location, region, neighborhood or even a particular condo development to focus a large portion of their time cultivating consumer opportunities. This is commonly referred to as “farming”. Farming is usually done over a period of time with a consistent message and communications plan developed to become the predominate agent in a particular farm area.

Inbound Marketing

Inbound is a method of attracting, engaging, and delighting people to grow a business that provides value and builds trust. ~ HUBSPOT Inbound Marketing is also known on “content Marketing” and is a contemporary marketing concept in which a marketer will create useful and engaging content that a consumer would be interested in reviewing even if they are not immediately interested in buying or selling real property. Inbound marketing is designed to get a consumer to subscribe to website, social media profile, subscribe to an email campaign or fill out a contact form online.

Utilizing tools like blogs, sharable graphics, eBooks, or other things that a consumer would find valuable to download or share online is considered Inbound Marketing. It is the concept of creating content to start an engagement with a consumer and show value in their life or transaction process.

Inbound marketing is valuable in building a community or what author Seth Godin calls a “tribe”.

Agents can use their content and inbound marketing efforts to help build a following with a strong call to action for a consumer to follow them on social media or subscribe to an E-newsletter. Then they ask their tribe to reshare the content with the hopes that their fans will share with people who trust them.

The goal is that those people also engage the agent and continue to build and enlarge the tribe. As an agent’s audience grows the chances for consumer engagement will grow producing a new source of business.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Everything Should Drive to Your Website

As the agent builds various channels to communicate with potential consumers and past clients, they will find various responses and consumer types based on the channels being used. This can create a challenge in keeping content and marketing assets fresh and tracking their efficacy. Use one source to host all the content marketing assets, like the agent’s website. Posting or hosting content on the website allows the various marketing channels to be used to connect the consumer to the content.

For example, an agent posts a new buyer guide on their website which is designed to help buyers in the buying process and shows value in using a particular agent who provides this great content. Once posted, the marketer will use Facebook, Twitter, Instagram and email campaigns to show the marketing asset to the followers on each platform. Links back to the asset on the agent’s website will build additional traffic and offer the consumer other valuable resources. Hopefully, this will lead the consumer to take action and subscribe to the agent’s emails or reach out to the agent to get more information.

When creating content to be shared, it’s important to consider several things. The following considerations should be made with curating sharable content.

Useful

Is the content that you are creating something a consumer will consider valuable and meaningful not only to themselves but as a resource to share with their friends and family? An example is an eBook related to relocating to the agent’s primary market area. Another example may be a video explaining the steps necessary to buy a new construction home.

Relevant

Is the content related to something currently happening or will soon be happening in the near future. Example of relevant marketing would be the schedule of the local high school football team or a graphic with all of the local voting locations during an election month.

Sharable

One of the most important measures of efficacy for a content marketing asset is how often it is shared. Consumers share information and resources they find valuable.

Anything that the marketer creates should be easily sharable from the “hub”. When creating the content, the resource must be valuable enough that a viewer will feel compelled to share it. When it is posted it should be easy to share on social media and by email with a call-to-action to do so.

Sometimes content marketing isn’t necessarily designed around creating resources or specific calls-to-action, but rather to reflect the brand’s positive impact with motivational messaging. Sharing good news about the community or doing a video Motivational interview with those positively impacting the community may take the spotlight off of the team and place it on good civic work, which helps show the brand is engaged in the community.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Lifestyle Content

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Real estate agents provide a service that is close to the heart of the consumer. Creating marketing content that connects with the consumer regarding community and their home will leave a notable impact. Sharing content online related to things people appreciate and enjoy will help bring a tribe together. Things like the best home security system, ways to enjoy the local parks, your favorite recipes, nature, gardening tips, and things to do with your children during the summer, are all examples of ways to share the lifestyle that people in the area enjoy. It will also help show the marketer as a relatable individual.

Marketing Delivery Tools In today’s world the agent has a myriad of tools to tell their brand story, promote their listing, and create new client opportunities. Generally, agents and teams depend on their professional assistant to coordinate their marketing efforts. Digital and online marketing have proven to be the most effective tool, but some agents have also found successful analog marketing campaigns, such as printed newsletters and post cards.

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Videos Infographics & Guides Social Media Blogs

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Sharable Photos Email Campaigns Stories

The choices of marketing platforms and lead generation services can be overwhelming to many agents.

The professional assistant may be called upon to research and help setup new marketing assets and campaigns, as well as create innovative ways of using existing systems.

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Agent Websites

For most agents the website is a “store front” where consumers can find basic information about the agent and maybe homes for sale, but that’s only a small part of the value of a well-designed and functioning website. The agent’s website is a valuable hub for successful marketers. This is where an agent can create a community resource, tribe-building powerhouse of content, and easily get found by consumers searching for information.

There are various website options available to agents. Often brokers will offer websites with limited information, but good findability online. Some agents choose building their own websites using popular tools while other agents prefer ready-built websites hosted and maintained by website vendors.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Countless consumer surveys are done each year to ascertain what type of actions consumers take when online. Here are a few important statistics.

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91% of all real estate buyers and sellers use the internet as part of their buying and selling process

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69% of buyers begin their search with local terms such as “waterfront homes for sale in Muskoka, Ontario”

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55% of buyers start their search on a real estate agent’s website as their first step

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78% of real estate consumers use more than one site when searching for homes

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52% of all online consumer research starts with local search information (not home searches, but rather information about a locality)

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75% of consumers judge a business or entity by the quality and content of their website.

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Why Design Matters

Knowing that 75% of consumers judge a business by their website, it should be no surprise that a wellorganized and well-designed website is important for a real estate team. Consumers are more likely to interact with a website which is clean, simple to use, and has worthwhile content. The front page of the website is the first handshake the consumer could have with the real estate agent, but the content on the pages and blog posts will be what keeps the consumer engaged and willing to subscribe to enewsletters and social media sites to get more information.

Websites have various parts and agents, and professional assistants should be familiar with layout and site elements. The “home page” is generally the first page a visitor sees when they type in the addressof the website. The “website” is a collection of pages and posts that make up the whole.

“Pages” are the individual sections of the website that are typically dedicated to the unique content of each part.

The diagram below breaks down the elements of a page.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Identity Standards

Each brokerage, franchise and provinces regulations as well as the REALTOR® Code of Ethics, has certain disclosure requirements which must be met on all online marketing on behalf of an agent. These requirements are part of the identity standards.

Brokers may require specific logos, colours and fonts to be used in a marketing platform, but there are also regulatory requirements on behalf of each province’s regulations. Here are few common requirements:

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The agents name must be listed as it is presented on their license

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The name of the real estate firm must be disclosed

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The city and province of the office which the agent reports should be listed

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A list of all the provinces in which the agent or team is currently licensed

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Use of approved logos, both the company and the agent’s preferred mark

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That fact that the agent is a “REALTOR®” must be disclosed. Note: The word “REALTOR®” is trademarked and must be presented in all capital letters with the registered trademark symbol following. You can create the registered trademark by pushing [option and “r”] on a Mac and on a PC click “Insert” and then “Symbol”.

Responsive Sites

Consumers use a variety of devices from smartphones to desktop computers to utilize the internet.

Each of these devices have different sized screens and it is important that a website caters to each. A website is considered a “responsive site” when it has full utilization and an appealing user interface regardless of the size screen that it is on.

Websites use different themes, which are filters added to give it a basic template for its look and feel.

An agent’s website should be using themes which are responsive to various devices and maintain a consistent feel for the site across all platforms.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Website Vendor Considerations

The majority of agents will lack the skills necessary to create and design a website from the ground up.

Agents will usually pay a company to create, host and maintain a website on their behalf. Some vendors will charge for the site’s creation and hosting while other vendors will have a fee for the website being found online and for ensuring that client opportunities are created on a routine basis.

Before signing a contract or hiring a website vendor the agent should ask the vendor for 3-5 current clients to call as references. When speaking to those references, the agent or professional assistant should ask about their satisfaction level with the vendor. Has the vendor provided everything they promised, and if tech support is offered, are they responsive? While speaking to the reference the professional assistant should try and ascertain the level of technical prowess of the reference to see if it matches the agent or teams ability to manage technology. A reference who isn’t very tech savvy may be very impressed with a website vendor only because they do not know of other options or what should be available to them.

When interviewing a website provider, the following questions should be asked of the provider to determine what reasonable expectations the agent and their team should have and to assess if the charge for the site is appropriate.

Cost The first question is always what the cost of the site will be. Expenses for websites vary wildly from a few hundred per year to thousands per month. Websites that are merely basic sites hosted by the vendor and maintained by the agent are the least expensive. Sites that are maintained by the vendor with new content added and efforts made to create consumer opportunities are the most expensive.

IDX Internet Data Exchange or “IDX” is the service provided by Multiple Listing Services to real estate agents where the data from the MLS is shared on the agent’s sites. Therefore, both the agents own listings as well as those from other cooperating brokers are available to a visitor on the agent’s websites. Most IDX licenses come with monthly fees for the website and occasionally from the MLS.

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MODULE 10 – MARKETING, BRANDING and CREATIVE SEO Search Engine Optimization or “SEO” is the ongoing and active efforts of a party to make the website findable by search engines like Google.com. By using specific words, page titles and other techniques individuals can optimize a website’s setup to be more easily found and higher ranked in search engines. Not that paid placement such as Google Adwords is not SEO, it is a financial investment to Google or a third party to get the website seen in the paid ad space on search engines.

Lead Generation The act of creating consumer engagement opportunities for the agent is often referred to as “lead generation” by vendors. Agents often find this the most valuable part of their website. Vendors should be asked to lay out their techniques for creating opportunities from the website. If the lead generation is SEO driven, will the agent and their team be expected to create content for the site or will the vendor?

CRM Customer Relationship Manager or CRM is a component of a website that creates a database of contact information from clients, consumers and customers and allows an agent to organize the individuals into different groups based on timeliness of their sale or purchase. The various features of a CRM vary from one provider to another. Many have suggested marketing campaigns, email templates, and calendars to manage when certain groups should be contacted and followed up with and a database system to keep contact information and notes about individuals. Vendors will need to lay out what features of a CRM are available as part of their website tools. Many website vendors do not offer a full-featured CRM and the agent may need to use a third-party CRM system. Vendors should be asked if contacts from within the website can be easily exported into a third-party CRM program.

Duration of the Contract Most website vendors offer contracts as part of their hosting and maintenance services. There are often discounted prices for long term contract or for paying a single annual fee as opposed to a monthly fee. Professional Assistants and agents who are negotiating a contract with a vendor should consider contractors for no longer than one year. It may take up to six months for the website to reach its full potential for findability online, but technology changes so quickly, that long-term contracts may not be in the best interest of the team.

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Who Owns the Content The most valuable part of any website is the content. The videos, blog posts, written resources, and more represent an investment in the agent’s time. The clients that are added to the CRM are long term opportunities and domain name is something that an agent will want to use for the rest of their careers. When working with a website vendor, terms should be negotiated ensuring that if the agent stops working with that vendor the agent owns the domain name, all of the clients contact information,and the content on the website. The vendor should be asked to demonstrate how the content can besaved and exported from the system prior to entering into an agreement.

Marketing Listings Many high performing real estate agents put a strong focus on procuring listing business. Because of the time commitment required, an agent can handle many more active listings than they can buyers.

Additionally, having a listing provides the opportunity to showcase your marketing talent and to also get the agent’s brand in front of many more people. Often agents and teams will depend on the professional assistant to ensure that the marketing of the listing is done well.

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Multiple Listing Services

The Multiple Listing Service, also known as MLS is a regional database of listings that establishes cooperative agreements and commission offers between agents. The MLS takes the listing data that is entered into the system and then through its own consumer facing site allows buyers to search the site for homes for sale. The MLS will also distribute the listings to various third-party websites called aggregators. Common aggregators include Realtor.com and Zillow.com.

The distribution of listing data to aggregators and individual agent websites is called IDX or Internet Data Exchange. The IDX distribution is controlled by the broker and not all brokers permit IDX distribution outside of the MLS. ▪

Open Houses

It is reported that 54% of all home buyers have visited an Open House as part of their home buying process. The Open House is an opportunity affording to the public to enter a home for sale and view it without the accompaniment of the buyer’s agent. Many home buyers visit open houses before they hire an agent to represent them. Listing agents who are hosting the Open House can sometimes engage these unrepresented buyers and create a client relationship with them.

The primary purpose of the Open House, however, is to introduce the home to a buyer and sell the home for the home owner. Open Houses require marketing efforts prior to the actual day of the Open House.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Open Houses – continued

Considerations include:

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Marketing the Open House

In order to get the most out of the effort of the seller and the agent during an open house, aggressive and early marketing of the Open House is necessary to get the attention of the largest number of buyers.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Marketing the Open House online includes using the MLS and the listing aggregators to promote the date and time of the event. Using Social Media ads is also an effective marketing model to communicate with the agent’s online sphere of influence and have the event shared with others.

Analog marketing efforts can include written invitations to the neighbors inviting them and also asking them to invite their friends or families that may be interested in moving into the subdivision. If the home is in a Home Owners Association, then running ads in the HOA newsletter is also known to be an effective effort.

On the day of the Open House the professional assistant may be asked to accompany the listing agent or prepare the home before the open house. Preparation for the Open House includes creating extra home-books, brochures and information sheets. Using welcome posters and greetings can help create a warm environment for the visitors on the day of the event. In addition to the all the marketing that was done before the event, the professional assistant may also wish to place directional signs near the front of the subdivision allowing passerby’s to know about the event and to pop in.

Professional Assistants will also want to have data sheets available to ensure the agent hosting the open house knows what other active listings are in the area in case a buyer would like more information other than the home they are visiting. Feedback forms are necessary to get written feedback from the buyers as they visit the home to be delivered to the seller after the event.

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Homebooks

Homebooks are expanded brochures full of information about the home, the subdivision amenities and lifestyle information about the area. Homebooks should be so informative that buyers are compelled to take the book when they are considering the home and even if they aren’t as they will keep the agent’s branding even after they’ve visited the home. In addition to listing photos, feature information and area information, homebooks should have information from the economic development resource from the county or city and neighbor reports from Geowarehouse.

Using design tools like canva.com will help make the process easy and look very professional.

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Listing Aggregators

As mentioned earlier, listing aggregators are third-party websites that are given listing data from the MLS to help buyers navigate the listing inventory in their desired area. Aggregators are a powerful tool in selling homes and should not be neglected. Once the listing data has been populated from the MLS to the aggregator, Professional Assistants should log in to the primary aggregators known to be used by buyers and update the listing data utilizing all of the features of the aggregator to draw the attention of the home buyer.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Aggregators will often allow more content, such as virtual tours, additional photos and expanded areas to write more in-depth descriptions. Some aggregators offer additional marketing assets for free, such as video walk-throughs and virtual tours.

All of these marketing assets can help the agent and Professional Assistant tell the home’s story and engage clients in a way that few other listing marketing efforts can.

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Single Listing Websites

Another effective marketing tool is to create a page on the agent’s website or to utilize a third-party tool to create a single page or site for each listing. This page on the team’s website or landing page from a third-party provider will provide the listing agent a way to share expanded listing information to any buyers who are inquiring and to keep the clients on the agent’s platform. This is a form of a “hub” as discussed earlier that can provide valuable buyer information to anyone making an inquiry.

On these single listing websites, the agent should provide all of the data and marketing assets available on one site. Some of that expanded information includes:

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A slideshow of all the listing photos

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A digital version of the homebook that they can download Links to community amenities

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Full listing description

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A call-to-action form where the buyer can request additional information

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Area information such as dog parks, school information, favorite restaurants, etc.

Virtual Tours

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Videos of the home

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Floor plans

Listing Photos, Virtual Tours and Videos

The visual elements of a listing marketing campaign is what grabs the attention and interest of the home buyer. Home buyers are looking through listings online and make the decision to exclude certain listings based on how they appear online. Photos, videos and virtual tours are critical assets in a marketing campaign. It’s important to have high-quality, professional photography for every listing.

Effective marketing campaigns involve photos of the interior and exterior of the home, but also quality photos from the seller of the home during different seasons if they are available, photos of the community amenities and drone photos if the property has features that justify it.

Virtual Tours, also known as 3D models, utilize a technology that allows a consumer to view the home as if they were standing in it, even if they are at home or elsewhere. Virtual Reality goggles, mobile

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MODULE 10 – MARKETING, BRANDING and CREATIVE phones and web browsers can all be utilized by the buyer to view the tours. Buyers are becoming increasingly comfortable with the technology and will often seek listings online that have virtual tours available.

Videos are also a highly sought-after marketing asset, allowing the buyer to see a story about the listing. Listing videos allow the listing agent or seller to present the house to the buyers as a guided tour. There is no other marketing asset as impactful for winning the buyer’s interest.

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Listing Photography ▪ ▪

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Virtual Reality ▪ ▪ ▪ ▪

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Video walk-through of the property Brief videos of someone enjoying the property Amenity videos Use a gimbal for a professional look

Blog Post about a Feature ▪

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Add furniture Remove items Replace dark skies Adjust photos

Video Rocks the Listing ▪ ▪ ▪ ▪

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Growing Trend Buyers can “walk-through” in their own home Most consumers are already acclimated to virtual reality Embedded videos and callouts allow you to highlight key features

Virtual Staging ▪ ▪ ▪ ▪

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Ask sellers for their lifestyle photos Tell a story with your photos

Create content around a specific feature or amenity of the property and then share the listing information at the end

Social Media ▪

Create and post social media content focusing on unique property features

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MODULE 10 – MARKETING, BRANDING and CREATIVE Listing Marketing Checklist Once a listing has been secured from a seller, a marketing campaign usually begins soon after the listing paperwork has been completed. A checklist is an essential tool in ensuring that nothing is missed and that the promises made by the agent to the seller to promote their property to buyers is met.

Here is a sample marketing checklist for listings:

Marketing Checklist for New Listings Listing Address: MLS ID: Task

Date Completed

Create File in Transaction Management System Upload Listing Docs to Transaction Management System Add Seller contact details to file Request showing instructions from Seller Order Photos / 3D tour Order or take video / drone Collect room measurements Order virtual staging photos Call about sign placement Place sign Place Lockbox/Sentrilock Box on property Create flyer Write listing story and description Enter listing into MLS Setup Showing Time/Brokerbay for listing Continued on next page

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MODULE 10 – MARKETING, BRANDING and CREATIVE Add lockbox serial number in ShowTime/Brokebay Add attachments/disclosure into MLS Create Homebook and leave at listing Update Transaction Management System with MLS information Setup Social Media marketing campaign Edit Listing Video Share link to single listing site with Seller Add video link to Realtor.ca listing Setup automated seller report Order Just Listed Cards Add listing expiration date to calendar Add 30 day expiration reminder to calendar Send summary of marketing efforts to Seller Send handwritten “Thank You” note to Seller

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MODULE 10 – MARKETING, BRANDING and CREATIVE Generating Client Opportunities A valuable role for the Professional Assistant is that of marketer and assisting the agent or team in creating new client opportunities. There are a plethora of tools and marketing resources available to assist the Professional Assistant in creating new client opportunities. As discussed earlier in this course, content marketing, social media, websites, and many other tools are free for their use, but “free”still requires time to be invested in curating and promoting the resources created by the team.

Paid marketing efforts, such as print ads, lead generating websites, and radio ads are often not as effective as the content driven efforts of the previously discussed tools and practices but can still engage clients.When investing time or money into client generating practices, careful tracking should be made to ensure that there is a return on investment for the tasks.

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Expired Listings

From time to time an agent will win a listing opportunity with the seller and for various reason may not have sold the property before the agreement with the seller expires. Agents and teams who wish to build their listing inventory can setup searches in the MLS to be alerted of listings that have expired.

A Professional Assistant can work with the agent to assist them in identifying expired listings that meet the agent’s criteria and then assist in finding the contact information for those sellers. The agent can reach out to the sellers and ascertain if they would like to meet and perhaps give the agent an opportunity to help them sell their home.

When reaching out to the homeowner of an expired listing several things should be considered.

Homeowners need to be contacted quickly upon the team finding out that the listing has expired as many other agents may be making the same efforts.

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For Sale By Owners

About 7% of homes sold each year are sold by the homeowner without a listing agent, but a much larger number of homeowners attempt to sell on their own before realizing that they need the assistance of a trained professional to assist them.

Professional Assistants can assist the agent by harvesting FSBO information from popular sites online and create marketing resources for the agent to drop off with the FSBO. A page on the agent’s website dedicated to providing resources for FSBOs to demonstrate the value ofan agent can be a powerful conversion tool, so long as there is a notable call to action and reason to reach out to the agent.

Common elements of a FSBO conversion packet include: ▪

Cover letter from the agent/team to the unrepresented seller introducing the value of using an agent and asking the FSBO to visit your website and provide information about their home in case the agent has a buyer that may be interested.

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Summary of documents that an unrepresented seller would need or may be required to have.

Note that the packet does not included copies of those documents, just a list of what would be needed and that the unrepresented seller may not have considered.

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Basic marketing information about the tools that the agent will use that the unrepresented seller does not have access to and would clearly put the home in front of the largest number of buyers.

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The agent’s resume and brochure outlining the accomplishments, experience, and advancedtraining.

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A buyer profile that shows how buyers search for homes. Most FSBOs do not know the value of video, virtual tours and other advanced marketing techniques nor how to create those assets. A detailed buyer profile can show the FSBO how complex the buyer is and how professional assistance is needed to convert them.

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A neighborhood and market report from Geowarehouse showing how the market is trending and pointing out how much longer unrepresented seller’s homes may linger on the market compared toa professionally marketed home. This data also shows the agent’s advanced knowledge of the market and their professional resources which the unrepresented seller does not have access to.

Creating several copies of these FSBO conversion packets and providing them to the agent makes it easy for the agent to stop by a home that they see a FSBO sign in front of and drop off the packet and start the conversation that could lead to a new listing for the agent.

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DIY Network Groups

There are a lot of networking groups available to businesspersons. Often the creators of these groups charge a membership or administrative fee. Professional Assistants can bring value to the team by assisting the agent with creating their own networking group with various business owners and lifestyle type business partners to meet on a routine basis, share ideas and refer client opportunities to one another.

These do-it-yourself networking groups can be coordinated using tools like Google Groups or closed Facebook groups to create a platform with meeting reminders, areas to chat, and share resources and keep in touch.

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Community Newsletters & Listing Flyers

When agents choose a farm or create curated tribe in their CRM they can begin creating newsletters, both digital and analog that can be sent out to their sphere of influence and provide useful information about upcoming events in the community, market information, interesting stories, restaurant recommendations, etc.

These community focus newsletters are a way for the agent to engage consumers and remind them of the resource that the agent can be to them. This form of brand marketing is most impactful when real estate sales isn’t the primary focus, but rather connecting consumers to their community and then a call-to-action at the end of the newsletter to remind the reader to refer business to the agent.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Video Marketing Modern consumers spend a tremendous amount of screen time with their devices and of that time much of it is spent binging their favorite show, watching tutorials on YouTube, being inspired by TedTalks, watching a favorite old movie on their streaming service or other video-oriented endeavors online.

As many consumer profiles have told us, consumers no longer read – they watch.

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74% of homes buyers use videos as part of their home search

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YouTube is the most used search engine after Google

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81% of homes buyers are more likely to look at a listing online if it has a video

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89% of buyers look at community videos as part of their home search

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46% of consumers take action on a product or service after watching a video about it

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Marketers who use video see a 49% faster revenue growth over those who don’t

Types of Real Estate Videos

There are a wide variety of videos that an agent can create to promote various aspects of their business. These videos vary from brand promotion to advertising a specific niche.

Video Biographies

Agents can create a video of themselves outlining what makes them unique to a consumer and what a consumer can anticipate if they elect to work with the agent. A video biography connects with the viewer and allows them to hear the agent in their own voice. Consumers are more likely to watch a video from the agent speaking about their skills and how they serve the client, rather than reading a lengthy bio.

Listing Videos

Home buyers are continuously reporting that they are more likely to look at a listing if the listing has a video attached. Walk-through videos and videos hosted by the agent or seller sharing the benefits and features of a home will give the buyer far more emotional connection with a home than simple photos.

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MODULE 10 – MARKETING, BRANDING and CREATIVE

Community Videos

A part of nearly every buyer’s journey is to research the community that they are moving into. Agents who are farming specific geographic areas or building a niche can grab the attention of those buyers with a video.

The video can show the agent’s love for the area and an “inside” look into the community that a buyer may not otherwise get without living there.

Community videos are generally about the region, city or county and reflect a citizen’s lifestyle.

Neighborhood Videos

Creating a video of a specific neighborhood creates a value to a buyer who has shown interest in that development, but also may create an interest from a buyer who prior to seeing the video was unaware of the amenities and features that they could enjoy in that community.

Testimonial Videos

While researching agents and making a selection of which agent to engage for representation, consumers put a high value on testimonials from people like themselves. Seeing a past client of the agent speak on video about their positive experience could be the winning factor for an agent competing for business.

Niche Videos

Some agents choose specific types of clients or services to be their niche. Agents may choose equestrian properties, smarthomes, new construction, luxury properties, or other specialties. Creating a library of videos containing information about aspects of smart devices in a home, what it’s like to own a horse, benefits of living on the water or things a buyer should know when buying new construction, can introduce important content marketing assets that other agents aren’t creating and make finding a niche agent easier for the consumer. Niche videos have an additional benefit of speaking to consumers who aren’t yet in the buyer or selling process find a reason to subscribe and join the agent’s sphere of influence because of a social connection based on common interest.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Video Tips

Professional Assistants and agents are rarely experienced videographers and sometimes don’t know where to start. The best thing about video is that you can keep practicing and editing until you’re happy with the message. Below are a few tips to remember when you’re creating a video for real estate purposes.

Keep It Under 90 Seconds: Culturally our attention spans have shortened over the years. We want as much information in as short a time period as possible. As a general rule a 60-90 second video gets the most attention and is more quickly shared by a viewer than longer videos. When doing a video, 90 seconds is a very long time. The average TV commercial is 30 seconds.

Tell A Story: When creating a video, it’s generally best if the persons involved in creating it start with a “storyboard” outlining what their message is and what the frames or outline looks like. This keeps everyone on the same page and gives structure to the video. Viewers of the video need to know why they’re watching it, what the most important point is and what they are expected to do once the video has finished.

Use Music: Music sets the mood and tone of the video, it makes voices sound fuller and it coversup ambient noise that may occur while creating the video. Music should be nuanced in the video and not overwhelming. Subtle, but lighthearted music can bring a video to life for the viewer.

Call To Action: A good call to action may be asking a viewer to subscribe to the agent’s video channel or to email/call the agent for more information. Consumers need to be encouraged to take action at the end of a video. The type of video will dictate what action you’re asking for. If the video is about a property, asking the viewer to contact the agent to see the home is appropriate. If the video is a brand video introducing the team to the world, then asking for the viewer to subscribe to your channel and join your tribe is an appropriate call-to-action. Part of the storyboard for the video should be a plan for what specific action you want the viewer to take at the end.

Be Personable: The videos which solicit the highest engagement are those videos where the agent or team shows some charisma, charm, and personality. Agents should be encouraged to show a little personality and engage the consumer with some great energy.

Be Funny: Making a viewer laugh is a great way to make your video memorable. People love a good chuckle. Don’t be afraid to show a little behind-the-scenes shenanigans, a little mistake that makes its way into the video or just a funny memory the agent has of whatever they are discussing. When it’s appropriate make people laugh.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Your Smart Phone is a Media Center

There is certainly something to be said for a high-end, polished professional video, but that doesn’t have to be the norm. The video library that the agent creates can be a collection of professional videos and those produced by the Professional Assistant or agent. There are some great tools available for agents to create their own videos.

Today’s smartphones are very capable of creating amazing looking video assets and editing software like spark.adobe.com can give it a very professional appearance. YouTube.com is the best platform for hosting a library and Professional Assistants should be diligent to understand how to upload, promote and manage a library of video assets for the agent. Lighting kits and Bluetooth wireless microphones are inexpensive and can really up the quality of the video that is being recorded. A small investment in some portable equipment can make the video process easier and more professional in appearance.

The Agent Biography ▪

Telling the Agent’s Story

Agents often have no problems verbally sharing about themselves to potential clients but have a very hard time writing about themselves. Sometimes it seems that one of the hardest things for an agent to do is write a meaningful and engaging bio. They find it hard to tell their own story in a meaningful way.

We’re in a world where content marketing rules. People want online media to help them make decisions. The agent bio, their introduction video and online assets tell that story and does so using written content.

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The Importance of “YOU” to the Readers

Seth Godin delivers an allegory in his book Tribes: We Need You To Lead Us. Godin asserts that businesspeople create a sphere of influence or “Tribe” based on things about you that people can connect to. A well written bio allows an agent to keep the focus of future meetings on the consumer, because they have already gotten to know a little about the agent from their bio. Your clients want to know who they are working with, and they do indeed want to know about the agent personally. They want to trust your team. They need to know you’re someone like them.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Define Your Audience

It’s important that you begin your writing experience with a persona of whom you’re trying to reach. What does the client who is reading the bio look like, think like, what are they looking to see, what will make them want to work with your team? This may seem like a lot of unknown, but that’s because agents often think too broadly, and we try too desperately to appeal to a large group of people and not a specific type of person. For example, if an agent generally works with sellers, they should focus on what a 38 year old home-seller, who has probably only sold once before would want to know about the agent. What would interest them? Take out a piece of paper and write a one paragraph persona of who that client is.

Here’s an example:

John and Joy are 38 and 32 years old. They have two sons who are in grade school in a local private school. Both John and Joy work and make about $78,000 a year.

They’ve lived in their first home for about six years. They have a Golden Retriever named Pixel. They are “digital natives” who are tethered to their devices, and they are very well informed and research everything online.

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Find Writing Time and Write Well

Agents often get overwhelmed when they open up a Word document and start pounding out a 500word essay on “Why I’m An Awesome Realtor”. We want to avoid having the bio sound just like everyone else’s.

Some thought is required to create a compelling agent bio. The writer should go somewhere where they can write and focus for the hour or so that it may take to write it out. Everyone has a different environment that works for them.

A bio should be fun to read, interesting and focused. Tell the agent’s story, but from the client’s point of interest. What benefits will the client realize by working with the agent? Why is reading this bio important to them? Bios are often best received in a first person, conversational tone.

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MODULE 10 – MARKETING, BRANDING and CREATIVE Answer the following questions for them:

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1.

Who is the agent?

2.

Why should they choose them?

3.

What makes your team unique?

4.

In what ways can a consumer personally connect with the agent?

You’ll Need Three

A team will need three versions of the bio. One full-length bio that tells different aspects of the agent’s story. This typically exists on the agent’s website. The second bio is an abbreviated version for your profile on your company site, aggregators, etc. The third bio is a very short, one to two sentence whimsical statement for social media sites. Writing the full bio first then helps to do a one or two paragraph summary for the short bio and then that helps to create a short social media bio.

Writing all three in a Word document and saving it with a cloud host makes it easy to simply copy and paste the bios into whatever document or site you need to have a bio for.

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Remember Your Disclosures

Provinces regs vary, but the Realtor Code of Ethics outlines some basic disclosures that reflect most obligations to the various provincial regulations for what needs to be in included in your content.

Don’t forget to make sure you list the agent’s name as shown on their license, disclose that they’re a REALTOR® and licensee, list the city and province of the office, and what company the agent is licensed with.

Things to Consider with Marketing Assets Marketing requires a plan, a budget and continual assessments of its efficacy. Considering the plethora of tools available, managing the marketing campaigns can feel like an insurmountable task.

Professional Assistants should consider the following things when making recommendations of various marketing opportunities to an agent.

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Expectations

Very often marketers are sold on the promise of a tool or marketing resource without fully understanding what is expected of them to maximize the asset. For example, an aggregator site can provide the agent with 100 consumer contacts over a month, but the agent doesn’t produce any clients, so they terminate the agreement with the aggregator. What they did not consider is that online consumers are significantly more likely to work with an agent, when the agent or their team respond to their inquiry within 15 minutes. Websites will not create client conversion opportunities if the website BrokerLogiQ | Real Estate Professional Assistant Course | 99

MODULE 10 – MARKETING, BRANDING and CREATIVE can’t be found online and isn’t used to host content marketing. Agents need to understand how a marketing asset works and what systems they’ll need.

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Quality of Resources

As we’ve explored in this marketing module there are various types of marketing resources available to the agent. Quality should be a serious consideration when engaging in a marketing asset or choosing a tool. There are always several options for each type of marketing and the marketer should be cognoscente of the quality and appearance of each marketing resource. A brochure can have the best content and call to action, but if it’s printed on low quality paper it could be easily disregarded. A website can have great information, but if the layout is dated, not fresh, or contemporary a consumer may click off the page before finding all the great content. Quality matters.

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Agent Comfort and Understanding

If the Professional Assistant is responsible for or involved in the selection of marketing assets and tools, they should ensure that the agent is given a full understanding of the value of the resource. An agent or team who doesn’t understand the value of a tool may be apt to stop using it or not invest in it as fully as they should. At times agents may be enticed by a new product or service and choose to replace another system they already have because they don’t fully appreciate the value. Professional Assistants should work alongside the agent so that both fully understand each marketing tool. The Professional Assistant should keep the agent informed of new updates and features as they’re added.

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Target Audience

As a reminder, the marketer is seeking to reach a target audience. Creating a consumer persona and then curating marketing assets to reach that target audience is important. Various campaigns can be created and maintained that are designed to reach a varied market segment and niche group.

However, Professional Assistants who are responsible for marketing should not attempt to run so many varied marketing plans as to dilute the uniqueness of the team. The more focus given to a few specific groups, the greater the chance of success in the particular marketing campaign.

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Knowledge of the Target Niche

Choosing a consumer persona and a target audience is an important element of a successful marketing campaign, but truly knowing your niche is equally important. Using tools like narrpr.com to get demographic data about that niche is a good first step, but then fully embracing their lifestyle is how you breathe life into your campaign. If the agent’s niche market is equestrian farms, then the agent and Professional Assistant should spend some time on the farms, understand the proper names of things and the common colloquialisms of horse enthusiasts. Spending time studying the buying process and perhaps going to a few horse shows will codify the teams understanding and expertise in the specific niche.

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MODULE 10 – MARKETING, BRANDING and CREATIVE ▪

Costs Involved

When assessing a marketing asset one consideration should be how it fits into the agent or team’s budget, but rarely is the cost of the individual marketing resource the totality of the expense. Estimates of the Professional Assistant’s time, the agent’s time and any other resources needed to maximize the marketing asset should be considered. For example, if a particular lead generating website costs $1,100 a month and requires 5 hours of the Professional Assistant’s time at $20.00 per hour, plus a CRM tool at $150 per month to manage the leads being generated, the total cost of the lead generating website isn’t $1,100 per month, it is actually $1,350 per month. The total cost of each asset needs to be considered.

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Time Involved

Many marketing resources require action and management by the Professional Assistant. When considering a new marketing resource an assessment of the time commitment required to maximize the effectiveness of the tool should be made. This should be weighed against the current workload of whomever is responsible for the successful implementation and upkeep of any campaign or marketing resource.

Write down a list of video marketing ideas that you and your team / agent should consider in the future.

EXERCISE List of marketing resources and how they are being used to direct consumers back to the marketing hub:

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MODULE 11

Tools of the Trade

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MODULE 11 – TOOLS OF THE TRADE In Module Ten we discussed a variety of marketing tools and in Module Four we discussed technologies that were influencing the real estate industry. In this module we discuss categories of work-flow tools that a Professional Assistant will encounter in their roles working with agents and teams.

CRM – Client Relationship Manager Client relationship management resources assist agents and teams in coordinating marketing and outreach campaigns with the agent’s sphere of influence and current clients. Solid CRM systems will keep all aspects of client engagement on task with digital checklist, marketing content and resources for emails and newsletter campaigns.

Professional Assistants will often be relied upon to make routine entries in CRM systems, maintain upto-date records and manage transactions within the system.

Password Management Systems Every day it seems like we’re introduced to more and more business tools, and it often feels like those tools require unique and complex passwords. This list of passwords grows as Professional Assistants, agents and teams share passwords for a variety of business and marketing tools. It will be important to agents that they have access to passwords that the Professional Assistant is using as part of their efforts to support the agent. Using a password management system will keep track of your passwords, software license numbers, and much more making all parties more efficient and secure.

Action Item and Project Management Frequently in this course we’ve discussed the value of checklists to keep all parties on task, organized and being the best professionals that they can be. Action lists and project managementsystems are valuable, cloud-based tools that can be easily mastered.

Checklists can be assigned and managed online and allow for all parties to check on each client, file or listing in real-time and from any device. Using the dynamic features of project management platforms can easily replace paper-based tracking systems that are severely limiting and cannot be easily adjusted for each transaction or client.

GeoWarehouse GeoWarehouse is a provincial database of real property data and a benefit to members.

GeoWarehouse members can create a comprehensive property report that provides an overview of the property, property details from Land Registry & MPAC, includes demographics data, and more. A comparable sales report that is sourced from Land Registry data is also available. This report includes all sales in the selected area including FSBO, Exclusive, and Builder deals.

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MODULE 11 – TOOLS OF THE TRADE Email Campaign and Marketing Management Systems Email and marketing campaigns will be essential tools to manage and track. Email is a primary communications tool and a way to share newsletters, upcoming events, content marketing assets and more. Tools like bombbomb.com will assist agents with creating and distributing videos to clients.

Systems like mailchimp.com will create email newsletter that are easy to design and send, with tracking and analytics.

For social media content, tools like hootsuite.com and buffer.com are popular ways to manage these platforms and execute a marketing campaign by scheduling marketing content across various social media accounts on strategically pre-determined times.

All of the above-mentioned systems will create analytics and reports to ensure that your content is reaching the intended target and being engaged as desired by the team.

Writing Tools The Professional Assistant will be doing a lot of writing. From drafting contract agreements for the agent to review, blog posts, marketing content, correspondence to clients, vendors and other writing will be a major part of the support effort.

Writing error free content with the right professional tone will be important. There are a variety of tools, such as grammarly.com that will check your grammar, spelling, and tone to ensure your communications are professional all of the time. Many of these will have active tools to use in website browsers like Google Chrome so that your online communication is always evaluated in real time.

Graphic Design Creating graphics for communications, marketing and branding used to be left only to graphic designers. However, with today’s vast number of tools Adobe Illustrator and Photoshop aren’t the only kids on the block. Tools like canva.com and piktochart.com are free, contain an endless number of templates and require very little experience to create amazing and engaging assets for marketing, reports and more.

Team Organization Systems A tremendous amount of time is wasted between teams and partners in real estate by using too many different communications platforms from text, email, various documents and more. Tools like slack.com and Microsoft Teams will create a single communication platform that streamlines

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MODULE 11 – TOOLS OF THE TRADE communications among teams, agents, and Professional Assistants. These are feature rich communication tools that help everyone avoid miscommunication, missing assignments, and importantproject action-items.

These tools will work alongside current communication tools and resources and organize the various aspects of client and project management.

Transaction Management Systems In addition to the systems already mentioned, the team or brokerage may have systems like DocuSign, and DigiSigner that are designed to manage the transaction’s document creation, digital signature, storage, broker review, cloud-based access and much more.

Transaction management systems are prolific within the industry and have various features that differentiate one tool from another. These systems can also assist with regulatory obligations by providing access to clients to review certain documents as well as document retention standards that are required by the individual provinces.

Share some of your favorite tools and resources that help your agent or team do their job better.

EXERCISE Favorite tools and resources:

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MODULE 12

Working With Vendors

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MODULE 12 – WORKING WITH VENDORS One of the duties that an agent may depend on the Professional Assistant to perform is that of dealing with the various business partners and vendors that an agent uses to support their business. From home warranty companies to lead generation websites, there can be a lot of people that a successful agent does business with.

Vendor Interviews Interviewing service providers can be a time-intensive endeavor for many agents. There are almost always more than one company that does whatever the task is that the agent is looking to hire for. The Professional Assistant can be very valuable in this effort by researching all of the various companies who offer the desired service and reduce the list to two or three potential companies to be considered.

Once the list has been reduced to a few companies or providers, the Professional Assistant can interview each and draft a comparison for the agent to review. There are a few key questions that should be asked of all vendors.

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What is the term of the agreement the vendor is offering? Many online companies ask for 1 to 3 years in a commitment, while others may only require a month-to-month agreement. If there is a long-term commitment, is there a financial benefit to the longer option?

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Is the cost for the service an annual fee or monthly? If monthly is an option, is there a cost savings to be realized if it’s paid a year in advance?

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Can the vendor provide three to five references for agents with similar production and in similar markets that can attest to the customer service and efficacy of the programs that are being offered?

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Inform the vendor of the other tools and services that you use and ask if their product will work with your existing tools or have functionality that will permit you to stop using the other tools. If the tool you are considering is a replacement for an existing service, ask if there are export functions from the old system to the new and who is responsible for transferring that data? Is there a cost for the transfer?

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Is the quote for the particular tool or service all-inclusive or are there additional add-ons and features that require a greater financial investment?

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If the tool is a lead generation or marketing tool, is your territory exclusive or can other agents also purchaser a similar version of the product?

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Is the price that is being offered truly the best price? Is there a referral program, existing partnership or other benefit that may reduce the cost of the tool? Many vendors will not tell you about discounts available to you unless you ask.

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Be careful of “special pricing”. Statements like “this price is only available until the end of the week” are rarely true. Often telling the vendor that you will wait to see if better pricing will come around again, will prompt them to extend those special pricing options.

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MODULE 12 – WORKING WITH VENDORS ▪

The first call or demo of a product should never be the time that an agent or team agrees to purchase a product. There is always more research to be done and references to be checked.

Sometimes waiting awhile after the demo or first meeting will prompt the vendor to call back with better terms or features.

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Many vendors will advertise and offer training for their tools. Make sure you get clarity on what type of training. Is there travel involved? Is the training a series of pre-recorded videos? Is there one- onone training? What are the costs associated with the training necessary to understand their system?

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Does the new system or service fit into the current budget or business plan? If not, how will the cost of the system be covered, does the business or marketing plan need to be revised and if the tool or service is a lead generation asset, how long before it starts showing a return on the investment?

Evaluating the Effectiveness of a Tool When looking at a service or tool that the agent has invested in, there should be a standard that was pre-defined by which the team can judge the efficacy of a tool. For example, if money is being invested into a new website, what was the expectation of the site? Did the team expect to have 4 closed transactions per month or to be found in the first three results of an online search for a specific term?

Often an agent will dismiss a tool as ineffective because the tool didn’t perform as expected, but really there was a misunderstanding of what needed to be done to make the tool reach a desired goal. If a team wishes to have 5 closed transactions a month from a website, but after receiving 150 leads they had no conversation, the problem may not be the tool. It may be that the approach to using it was insufficient for success to be realized. Perhaps the team needed more training on how to engage online leads, maybe the response time for getting back to the leads was too long and the client moved on.

Here are a few things to consider when evaluating a particular resource.

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What was the written and understood expectation of the tool?

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Did the vendor’s promises manifest themselves?

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Was the expectation of the tool reasonable?

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If the tool is a marketing resources, did it bring you a 30% or more return on investment?

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Did the financial cost and the time invested in the resource make it a sound investment?

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Have all reasonable actions been taken to maximize the results of the resource?

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Does the resource still fit the business and marketing plan of the agent?

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MODULE 12 – WORKING WITH VENDORS Repositioning a Resource Once all the questions above have been answered, the team may find that they need to re-invent their approach to the resource or asset. New tools, practices or efforts may emerge that will help the resource be more successful. Perhaps the tool has a better utility re-imagined as a different function.

If the resource cannot be retooled for success, then it may be valuable to contact the vendor and explore what options are available for early termination. Often paying a modest early-termination fee is less expensive than keeping a tool for the term of the contract.

Agents and Professional Assistants should make every effort to minimize the tools that they can invest their time in, understand and see notable results.

Professional Assistants should maintain a list of all assets, their agreement renewal dates and costs so that annual budget decisions can easily be made, and the team can anticipate the costs.

In the end the agent’s or team’s wellbeing and success will depend heavily on having the right tools at their disposal and running at optimum efficiency.

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APPENDIX We have provided a robust Appendix of additional resources and templates to assist you in your role as a real estate Professional Assistant.

1.

2.

3.

4.

5.

6.

7.

8.

9.

183 Things a REALTOR® Does................................................................................. 111-116 Buyer Client Checklist ................................................................................................ 117-119 Contract Review Checklist ......................................................................................... 120-121 Listing Action Plan Checklist ...................................................................................... 122-123 Marketing Checklist – New Listings ............................................................................ 124-125 Questions to Ask a Buyer ........................................................................................... 126-127 Questions to Ask a Seller ........................................................................................... 128-129 Vendor List Template ................................................................................................. 130-133 Website & Digital Tools ..................................................................................................... 134

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183 Things a REALTOR® Does Listed here are nearly 200 typical actions, research steps, procedures, processes and review stages in a successful residential real estate transaction that are normally provided by full service real estate brokerages in return for their sales commission. Depending on the transaction, some may take minutes, hours, or even days to complete, while some may not be needed.

More importantly, they reflect the level of skill, knowledge and attention to detail required in today’s real estate transaction, underscoring the importance of having help and guidance from someone who fully understands the process – a REALTOR®.

And never forget that REALTORS® are pledged to uphold the stringent, enforceable tenets of the REALTOR® Code of Ethics in their professional dealings with the public. Not every real estate licensee holds REALTOR® membership. Make sure yours does!

Pre-Listing Activities 1.

Make appointment with seller for listing presentation

2.

Send seller a written or e-mail confirmation of listing appointment and call to confirm

3.

Review pre-appointment questions

4.

Research all currently listed comparable properties

5.

Research sales activity for past 18 months from MLS and public records databases

6.

Research "Average Days on Market" for this property of this type, price range, and location

7.

Download and review property tax roll information

8.

Prepare "Comparable Market Analysis" (CRM) to establish fair market value

9.

Obtain copy of subdivision plat/complex lay-out

10.

Research property's ownership & deed type

11.

Research property's public record information for lot size & dimensions

12.

Research and verify legal description

13.

Research property's land use coding and deed restrictions

14.

Research property's current use and zoning

15.

Verify legal names of owner(s) in county's public property records

16.

Prepare listing presentation package with above materials

17.

Perform exterior "Curb Appeal Assessment" of subject property

18.

Compile and assemble formal file on property

19.

Confirm current public schools and explain impact of schools on market value

20.

Review listing appointment checklist to ensure all steps and actions have been completed

Listing Appointment Presentation 21.

Give seller an overview of current market conditions and projections

22.

Review agent's and company's credentials and accomplishments in the market

23.

Present company's profile and position or "niche" in the marketplace

24.

Present CRM Results To Seller, including Comparable, Sales, Current Listings & Expired

25.

Offer pricing strategy based on professional judgment and interpretation of current market conditions BrokerLogiQ | Real Estate Professional Assistant Course | 111

26.

Discuss Goals With Seller To Market Effectively

27.

Explain market power and benefits of Multiple Listing Service

28.

Explain market power of web marketing, IDX and REALTOR.ca

29.

Explain the work the brokerage and agent do "behind the scenes" and agent's availability on

30.

weekends

31.

Explain agent's role in taking calls to screen for qualified buyers and protect seller from curiosity seekers

32.

Present and discuss strategic master marketing plan

33.

Explain different agency relationships and determine seller's preference

34.

Review and explain all clauses in Listing Contract & Addendum and obtain seller's signature

Once Property is Under Listing Agreement 35.

Review current title information

36.

Measure overall and heated square footage

37.

Measure interior room sizes

38.

Confirm lot size via owner's copy of certified survey, if available

39.

Note any and all unrecorded property lines, agreements, easements

40.

Obtain house plans, if applicable and available

41.

Review house plans and make copy

42.

Order plat map for retention in property's listing file

43.

Prepare showing instructions for buyers' agents and agree on showing time window with seller

44.

Obtain current mortgage loan(s) information: companies and loan account numbers

45.

Verify current loan information with lender(s)

46.

Check assumability of loan(s) and any special requirements

47.

Discuss possible buyer financing alternatives and options with seller

48.

Review current appraisal if available

49.

Identify Home Owner Association manager if applicable

50.

Verify Home Owner Association Fees with manager - mandatory or optional & current annual fee

51.

Order copy of Homeowner Association bylaws, if applicable

52.

Research electricity availability and supplier's name and phone number

53.

Calculate average utility usage from last 12 months of bills

54.

Research and verify city sewer/septic tank system

55.

Water System: Calculate average water fees or rates from last 12 months of bills

56.

Well Water: Confirm well status, depth and output from Well Report

57.

Natural Gas: Research/verify availability and supplier's name and phone number

58.

Verify security system, current term of service and whether owned or leased

59.

Verify if seller has transferable Termite Bond

60.

Ascertain need for lead-based paint disclosure

61.

Prepare detailed list of property amenities and assess market impact

62.

Prepare detailed list of property's "Inclusions & Conveyances with Sale"

63.

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64.

Send "Vacancy Checklist" to seller if property is vacant

65.

Explain benefits of Home Owner Warranty to seller

66.

Assist sellers with completion and submission of Home Owner Warranty Application

67.

When received, place Home Owner Warranty in property file for conveyance at time of sale

68.

Have extra key made for lockbox

69.

Verify if property has rental units involved. And if so: ▪ ▪ ▪

Make copies of all leases for retention in listing file Verify all rents & deposits Inform tenants of listing and discuss how showings will be handled

70.

Arrange for installation of yard sign

71.

Assist seller with completion of Seller's Disclosure form

72.

"New Listing Checklist" Completed

73.

Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability

74.

Review results of Interior Décor Assessment and suggest changes to shorten time on market

75.

Load listing into transaction management software program

Entering Property in Multiple Listing Service Database 76.

Prepare MLS Profile Sheet -- Agent is responsible for "quality control" and accuracy of listing data

77.

Enter property data from Profile Sheet into MLS Listing Database

78.

Proofread MLS database listing for accuracy - including proper placement in mapping function

79.

Add property to company's Active Listings list

80.

Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours

81.

Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography

Marketing The Listing 82.

Create Internet and print ads with seller's input

83.

Coordinate showings with owners, tenants, and other Realtors®. Return all calls – weekends included

84.

Install electronic lock box if authorized by owner. Program box with agreed-upon showing time windows

85.

Prepare mailing and contact list

86.

Generate mail-merge letters to contact list

87.

Order “Just Listed” labels & reports

88.

Prepare flyers & feedback emails

89.

Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability

90.

Prepare property marketing brochure for seller's review

91.

Arrange for printing or copying of supply of marketing brochures or fliers

92.

Place marketing brochures in all company agent mailboxes

93.

Upload listing to company and agent Internet site, if applicable

94.

Mail Out "Just Listed" notice to all neighborhood residents

95.

Advise Network Referral Program of listing

96.

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97.

Provide marketing data to buyers coming from referral network

98.

Provide "Special Feature" cards for marketing, if applicable

99.

Submit ads to company's participating Internet real estate sites

100. Price changes conveyed promptly to all Internet groups 101. Reprint/supply brochures promptly as needed 102. Loan information reviewed and updated in MLS as required 103. Feedback e-mails/faxes sent to buyers' agents after showings 104. Review weekly Market Study 105. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale 106. Place regular weekly update calls to seller to discuss marketing & pricing 107. Promptly enter price changes in MLS listing database The Offer and Contract 108.

Receive and review all Offer to Purchase contracts submitted by buyers or buyers' agents

109.

Evaluate offer(s) and prepare a "net sheet" on each to give the owner for comparison purposes

110.

Counsel seller on offers. Explain merits and weakness of each component of offers

111.

Contact buyers' agents to review buyer's qualifications and discuss offer

112.

Email/deliver Seller's Disclosure to buyer's agent or buyer upon request and prior to offer if possible

113.

Negotiate all offers on seller's behalf, setting time limit for loan approval and closing date

114.

Prepare and convey any counteroffers, acceptance, or amendments to buyer's agent

115.

Email copies of contract and all addendums to closing attorney or title company

116.

When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer's agent

117.

Record and promptly deposit buyer's earnest money in brokerages account

118.

Disseminate "Under-Contract Showing Restrictions" as seller requests

119.

Deliver copies of fully signed Offer to Purchase contract to seller

120.

Email/deliver copies of Offer to Purchase contract to Selling Agent

121.

Email copies of Offer to Purchase contract to lender

122.

Provide copies of signed Offer to Purchase contract for office file

123.

Advise seller in handling additional offers to purchase submitted between contract and closing

124.

Change status in MLS to "Sale Pending"

125.

Update transaction management program to show "Sale Pending"

126.

Assist buyer with obtaining financing, if applicable and follow-up as necessary

127.

Coordinate with lender on being locked in with dates

128.

Deliver unrecorded property information to buyer

129.

Order septic system inspection, if applicable

130.

Receive and review septic system report and assess any possible impact on sale

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131.

Deliver copy of septic system inspection report to lender & buyer

132.

Deliver Well Flow Test Report copies to lender & buyer and property listing file

133.

Verify termite inspection ordered

134.

Verify mold inspection ordered, if required

Tracking the Loan Process 135. Confirm Verifications of Deposit & Buyer's Employment Have Been Returned 136. Follow Loan Processing Through to The Underwriter 137. Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale 138. Contact lender weekly to ensure processing is on track

Home Inspection 139. Coordinate buyer's professional home inspection with seller 140. Review home inspector's report 141. Enter completion into transaction management tracking software program 142. Explain seller's responsibilities with respect to loan limits and interpret any clauses in the contract 143. Ensure seller's compliance with Home Inspection Clause requirements 144. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs 145. Negotiate payment and oversee completion of all required repairs on seller's behalf, if needed The Appraisal 146.

Schedule Appraisal

147.

Provide comparable sales used in market pricing to Appraiser

148.

Follow-Up On Appraisal

149.

Enter completion into transaction management program

150.

Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties 151. Contract Is Signed By All Parties 152. Coordinate closing process with buyer's agent and lender 153. Update closing forms & files 154. Ensure all parties have all forms and information needed to close the sale 155. Select location where closing will be held 156. Confirm closing date and time and notify all parties 157. Assist in solving any title problems (boundary disputes, easements, etc.) or in obtaining Death Certificates 158. Work with buyer's agent in scheduling and conducting buyer's Final Walk-Thru prior to closing 159. Research all tax, HOA, utility and other applicable prorations 160. Request final closing figures from closing agent (attorney or title company) BrokerLogiQ | Real Estate Professional Assistant Course | 115

161. Receive & carefully review closing figures to ensure accuracy of preparation 162. Forward verified closing figures to buyer's agent 163. Request copy of closing documents from closing agent 164. Confirm buyer and buyer's agent have received title insurance commitment 165. Provide "Home Owners Warranty" for availability at closing 166. Review all closing documents carefully for errors 167. Forward closing documents to absentee seller as requested 168. Review documents with closing agent (attorney) 169. Provide earnest money deposit check from trust account to closing agent 170. Coordinate this closing with seller's next purchase and resolve any timing problems 171. Have a "no surprises" closing so that seller receives net proceeds check at closing 172. Refer sellers to one of the best agents at their destination, if applicable 173. Change MLS status to Sold. Enter sale date, price, selling broker and agent's ID numbers, etc.

174. Close out listing in transaction management program Follow Up After Closing 175. Answer questions about filing claims with Home Owner Warranty company if requested 176. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied 177. Respond to any follow-up calls and provide any additional information required from office files

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The Buyer Agent’s Responsibilities from Presenting Offer to Closing Do you have all of the necessary documents including, but not limited to, the following: Two (2) signed and initialed Purchase Agreements Two (2) of each signed and initialed Addendums Two (2) signed Estimated Closing Cost Statements Two (2) signed Agency Disclosures Two (2) Exclusive Brokerage Representation Agreement (if applicable) FINTRAC Documents Home Warranty Application or Waiver if seller not providing Two (2) Waiver of Home Inspection (if applicable) Earnest money deposit (copy of check delivered with offer if to be held by your company) Explain the differences between using an attorney or title company Explain the title insurance and owner’s title insurance Broker Commission Agreement You may have to obtain the following prior to presenting the offer to the listing agent: Signed Property Disclosure or Disclaimer Brokerage Commission Agreement (if applicable) Present Offer to Listing Agent: Advise the buyer of offers, counteroffers, and the importance of their best offer Note date and time offer delivered to Listing Firm (Offer Registration Form 801) Humanize the buyer – amount of information will depend on whom you represent Ask to accompany the listing agent to present the offer (depends on local custom) Review offer with listing agent – point out pros and cons, including the offered price After Ratified Contract: Revise Purchaser’s Estimated Closing Cost Sheet Make sure all changes are initialed and deliver revised copy immediately to listing agent Make a copy of all documents for your personal file folder Continued on next page

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After Ratified Contract: Place originals of all documents in file folder together with all office required documents and give to manager or assistant Arrange appointment for loan interview as dictated in Purchase Agreement Assist purchasers by giving them a list of items needed and/or by helping them complete a loan application form Advise purchasers of the fees they will have to pay at time of application Prepare a packet of information for the loan officer to include: -

Copy of accepted Purchase Agreement Feature Sheet Completed Mortgage Application Legal Description MLS Information

Attend the loan interview with purchasers unless they request you do not Discuss with listing agent the overall status of the loan interview. Depending on whom you represent will determine what you can disclose.

Call the loan officer at least once a week to ascertain that everything is on track Call the listing agent at least once a week to inform of progress Call purchasers at least once a week to inform of progress If any contingencies, follow-up with purchasers until satisfied and have them sign a contingency removal form

When Loan in Approved Check with listing agent to check if they have a packet prepared for the appraiser. The lender usually orders the appraisal.

Prepare Closing Packet for the title company or attorney, including, but not limited to the following: -

Form or letter identifying the real estate companies and agents involved Who is representing the seller Lender, Loan Officer Type of loan, amount, and terms Copy of Purchase Agreement Copy of Deed Purchaser’s name(s), address, phone number(s) How the purchaser(s) will take title

Follow-up with listing agent on status of required repairs (if applicable) Purchaser(s) should make arrangements for homeowner policy and be prepared to pay at least one year’s premium to insurance agent or at settlement

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Preparing for Settlement (at least one week before) Coordinate settlement date with lender, other agent, attorney, etc.

Check with listing agent on the status of Termite Inspection (if applicable) Check with listing agent on the status of certifications (i.e., water, sewer, etc.)

Check with listing agent that all repairs have been completed as agreed upon Sellers should confirm that all utilities are in the name of the purchaser the day of closing Three Days Prior to Closing Arrange for a property walk-through inspection with purchaser(s) and other agent (seller’s option to attend) Day Before Closing If something was not correct during walk-through, do another walk-through the day before or just prior to closing (take photos) Make sure that all problems are addressed immediately or notify attorney or closing officer. It is of utmost importance, in order to have a smooth closing, that all questions, discrepancies, and problems are resolved prior to day of settlement.

Obtain a Closing Statement from closing officer at least 24 hours prior to closing so you can review with purchaser(s) to make sure everything is correct Double-check the commission to make sure it is correct and that the earnest money deposits are credited correctly Purchase buyer’s closing gift Day of Settlement Notify the office assistant when and where and at what time the settlement will take place Attend settlement no matter who else does or does not attend. It is very important that the company be represented Check settlement statements again. If you find an error, ask to discuss in private with attorney or closing officer. It is important to resolve all questions, discrepancies and problems before settlement is completed.

Obtain a copy of buyer(s) and seller(s) closing statement prior to leaving Present gift to buyer then or later that day Turn in the closing statement with the office folder to the assistant Complete any in-house tracking forms required Wait for the commission check. Enjoy your money – you’ve earned it!

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Contract Review Checklist TASKS Make sure names are spelled correctly.

Make sure legal name and address are correct.

Check real and personal property that will convey against the listing agreement and computer printout to ensure conveyances are what they should be. The purchaser can ask for and the seller can agree to any other item conveying, but they must be made aware of them and avoid any surprises.

Check remarks for other items that need to be transferred to the contract, such as "storage shed in its as-is condition" or Seller or Buyer is a licensee.

Review financing-Make sure it is spelled out and adds up.

Earnest Money Deposit- Make sure that deposit is a check, money order or note, not cash (Ask them to get a money order). Make sure that it is clear who is to hold the earnest money deposit. On VA pre-owned homes most firms request that the $1000 deposit is to be in certified funds, in the event that closing is within 30 days.

Make sure contract designates who is paying the closing costs Make sure the type of financing and loan ratios are identified.

Who will be handling the settlement? Make sure parties understand mandatory language.

If seller is paying any closing costs, pre-paids, etc. make sure the maximum amount the seller is going to pay is spelled out and exactly what the money will be used for (i.e. pre-paid items, closing cost, etc.) Remember the max. contributions allowed for different financings.

If the purchasers want to make additions to the property, add rooms, etc. it is important that they obtain a copy of deed restrictions and "restrictive covenants" for the neighborhood, as these may override city ordinances. They should also check to make sure there are no environmental restrictions on what they want to do.

If seller is leaving some additional appliances for the benefit of the purchaser, you should consider conveying them "as is" unless you are representing the purchaser in this transaction. This protects the sellers from having to repair small appliances. Always suggest a homeowner's warranty.

If contract has a "contingency clause or subject to" clause, make sure either to insert a "seller has the right to void" or "purchaser has the right to void" clause.

When other contract(s) come in on a property that has a ratified contract with a contingency clause, add: "In the event the buyers in the first contract remove the contingency, then this contract is null and void". This avoids the possibility of the seller being obligated on two contracts.

In multiple offer situations, you may need to advise parties to seek legal counsel.

If a prior contract on a house has fallen through, make sure all parties have signed a mutual release.

Be sure contingencies are satisfied by stating which party has the right to do what and when.

Make sure that the appropriate agency disclosure clause is in the contract. If it is an in-house sale with the selling agent working as a "Buyer Broker", you must have a dual agency or designated representative consent form signed.

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Make sure homeowner's association language or condo language is included in the contract, if applicable, or if it is not in the contract, then be sure it is spelled out on a separate addendum.

If the property is on a septic tank or well water, be sure to address who will pay for costs of additional inspections and clearance letters that may be required. If city water and/or sewer are available, then address in the contract who is responsible for paying the hook-up fees that the lender will probably require.

If the property has acreage, prepare the purchaser for a larger than customary expense for the survey.

Make sure the proper termite clause is in the contract stating that the seller is paying for the termite inspection and the purchaser's name is on the termite letter and/or bill or request.

If the seller or the buyer uses a Power of Attorney, make sure you get a certified copy for the master file and a copy for yours.

If a contract of purchase is used other than the local contract, make sure proper addenda is attached for items not in unfamiliar contract. Carefully compare with your local contract for discrepancies.

Include an addendum of either a Residential Property Disclosure Statement or a Residential Property Disclaimer statement to be signed by the purchaser at time of contract ratification (if required).

If the property was built prior to 1978, make sure both the purchaser and the seller sign the appropriate forms. If working with a buyer, you are responsible to give them the Buyers Guide If the seller is paying any discount points, specify in the contract who is to have the authority and responsibility of locking in the discount points.

Make sure the purchaser knows about the availability of home inspections. If they decline to have one as a condition in the contract, make sure they sign a statement that they do not elect to have the home inspection.

If the purchaser is to move in prior to settlement or the seller is to stay in the property after settlement, make sure you get the proper possession agreement signed at time of contract ratification. Make sure purchaser understands that they will be responsible for the rent payments and often security deposit, whether they take early possession or not once the seller has accepted the offer with rental as a condition of his acceptance.

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Listing Action Plan Checklist Seller(s) Name Property Address Date At the Listing Appointment: (I have explained each of these documents thoroughly to the sellers) Completed and signed Listing Agreement-Seller must receive copy Have them review the MLS data information, sign, and give them a copy Signed Property Disclosure or Disclaimer-Seller must receive copy Signed CRM-Seller has received copy Signed Estimated Sellers Net Sheet based on Listed Price-Sellers must receive a copy Signed Home Protection Application or Waiver-Seller has received copy I have reviewed with the seller the following: Explained Agency relationships Explained financing alternatives including discount points, seller assistance with closing costs, prepaids and owner financing Explained Marketing Plan Explained Marketing Guarantee Explained property tour by office Explained how the MLS works and how appointments will be made Obtained key for lock box and explained how the lock box system works Explained and gave samples of "Tell 20"- Just listed, Open House and Just Sold flyers Explained Open Houses-Brokers and public Explained how to prepare their property for showing Explained advertising program Established marketing area in property-where feature sheets, business cards, home book & guest book will be displayed.

Explained showings that do not have an appointment-Leave business card holder with a supply of business cards

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Explained the process if they will be buying another property Discussed the advantage of leaving as much personal property as possible (window treatments, etc.).

Discussed the what ifs, such as an offer with earlier possession than desired.

Ask for copies of utility bills in order to prepare a "Home Book" Discuss special arrangements for pets so property can be shown Set a convenient time that you will discuss the status of their listing every week-coordinate both of your calendars for that time.

Discuss when sign installation will take place Leave a video on preparing your property for marketing Have folder for sellers to keep their copies of signed documents and important papers Property Owner's Association (POA) Packet

REMEMBER:

The Sellers MUST be given a copy of everything they sign immediately, plus an original for the office files.

Add any additional items here that will be important to your office or area:

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Marketing Checklist for New Listings Seller(s) Name Property Address MLS ID DATE COMPLETED

TASK Upload Listing Docs to Transaction Management System Add Seller to System Notify Seller of Their Updated Account Order Pre-Listing Title Search Order Photos Order or Take Video / Drone Order 3D Tour Collect Room Measurements Order Virtual Staging Photos Call About Sign Placement Place Sign(s) Place Lockbox on Property Create Flyer Write Listing Story & Description Enter Listing into MLS Setup Showing Time / Brokerbay for Listing Add Lockbox Serial # in Showing Time / Brokerbay Add Property Disclosure & Lead Paint Disclosure into MLS Create Homebook and Leave at Listing Update Transaction System with MLS Information Setup Social Media Marketing Campaign Share Link to Single Listing Site with Seller Add Video Link to Realtor.com Listing Setup Automated Seller Report

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Order Just Listed Cards Order Home Warranty and Add to DTR Add Listing Expiration Date to Personal Calendar Add 30-day Expiration Reminder to Personal Calendar Send Summary of Marketing Efforts to Seller Send Handwritten Thank You Note to Seller

Notes:

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Questions to Ask a Buyer

1. What prompted you to decide to purchase a home?

2. How long have you been thinking about this move?

3. Who else is involved in the decision to purchase your home?

4. Are you part of a relocation program?

5. Do you have a home to sell first? Or, where are you living now?

6. What are your basic requirements for your home? (bedrooms, bathrooms, location, acreage, HOA, etc.)

7. Other features you would like?

8. What is most important for your home – location to job, specific school, church, etc.?

9. How much do you think you can afford? Full loan and monthly payment?

10. How much do you have for a down payment, inspection, and closing costs?

11. Have you talked to a lender? Do you have a pre-qualification letter? What type of loan are you qualified for? Lender’s name and phone number?

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12. What is your time frame? -- Traditional, Short Sale, Foreclosure properties?

13. What is most important to you in considering your purchase? Price? Time?

Convenience?

14. Have you ever sold or purchased a home before and what was the market like when you did?

a. Did you use a REALTOR®?

b. How did that move go?

c. What do you feel a REALTOR® can do for you that you can’t do for yourself?

15. When are you available to view properties?

16. How (email, phone, text) and how often would you like to receive updated listing information? Can I put you on an automated search list that meets your criteria?

17. Do you have any other questions I can answer or research for you?

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Questions to Ask a Seller

1.

What prompted you to decide to sell your home?

2.

How long have you been thinking about this move?

3.

Who else is involved in the decision to sell your home?

4.

What prompted you to decide to buy this house? If moving, are you part of a relocation program?

5.

Have you made improvements to the home since moving in?

6.

What do you now feel is the best feature of your area/home?

7.

Price - What do you feel homes like yours are selling for?

8.

Price - How flexible are you with pricing?

9.

What is your Time frame?

10.

What is most important to you in the sale? Price? Time? Convenience?

11.

What will happen if you can’t sell your home? (Stay, Try to Short sale, how long do you have to sell before you would need to short sale?)

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12.

What projects do you feel need to be done to your home before selling?

13.

Have you ever sold a home before and what was the market like when you last sold a home? a. Did you use a Realtor? b. How did that move go? c. What do you feel a Realtor can do for you that you can’t do yourself?

14.

How would you like to handle showings? (Pets, Homeschooling, etc.)

15.

How (email, phone) & how often would you like to be contacted?

16.

Where are you moving?

17.

Have you taken the time to qualify financially for your next move?

18.

What would you expect from ME to perform exceptionally, not just adequately?

19.

Do you have any other questions I can answer or research for you?

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Vendor List Product / Service

Company Name

Phone / Website

1.

Appliances (new / used)

2.

3.

1.

Appliance Service

2.

3.

1.

Baths / Kitchens

2.

3.

1.

Carpentry

2.

3.

1.

Carpet / Flooring

2.

3.

1.

Cleaning Services

2.

3.

1.

Decks

2.

3.

1.

Doors

2.

3.

1.

Drywall

2.

3.

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1.

Electricians

2.

3.

1.

Exterior Cleaning / Power Washing

2.

3.

1.

Fuel Oil

2.

3.

1.

Heating / Air Conditioning

2.

3.

1.

Home Inspections

2.

3.

1.

Landscaping / Lawn Care

2.

3.

1.

Painting

2.

3.

1.

Plumbing

2.

3.

1.

Radon Testing / Remediation

2.

3.

1.

Repairs / Renovations

2.

3.

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1.

Roofing

2.

3.

1.

Settlement / Title Services

2.

3.

1.

Siding

2.

3.

1.

Swimming Pools

2.

3.

1.

Termite Inspection / Damage Repair

2.

3.

1.

Windows / Repair

2.

3.

1.

Loan Officers

2.

3.

1.

Movers

2.

3.

1.

Water Testing

2.

3.

1.

Lead Inspections / Remediation

2.

3.

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1.

Utility Companies

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

1.

2.

3.

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