The Residential Specialist, May/June 2023

By Regina Ludes

By Michelle Huffman

By Megan Craig

 Cover art: iStock.com/torwai/ Aleksei Iatsenko/ ONYXprj

By Steve Hendershot

Heller

Lisa A. Beach

EDITOR

Kimberly Cure kcure@crs.com 800.462.8841

ASSISTANT EDITOR

Amelia Garza apgarza@crs.com

CONTRIBUTING WRITERS

Lisa A. Beach

Megan Craig

Caroline Heller

Steve Hendershot

Michelle Huffman

Regina Ludes

BOARD OF DIRECTORS President

Tricia Nekota, CRS

First Vice President

Vivian Macias, CRS

Immediate Past President

Holli Woodward, CRS Members

Debra Beagle, CRS

Bryan Hughes

Addie Owens, CRS

Kurt Thompson, CRS

Tonya Thomsen, CRS

Chief Executive Officer

Jeff Hornberger

Staff Liaison

Patricia Stodolny

PUBLICATION MANAGEMENT

The Residential Specialist is published for Certified Residential Specialists, general members and subscribers by the Residential Real Estate Council.

The magazine’s mission is: To be a superior educational resource for CRS Designees and members, providing the information and tools they need to be exceptionally successful in buying and selling residential real estate.

The Residential Specialist is published bimonthly by the Residential Real Estate Council, 430 North Michigan Ave., Suite 300, Chicago, IL 60611-4092. Periodicals postage paid at Chicago, IL, and additional mailing offices.

Change of address? Email requests to crshelp@crs.com, call Customer Service at 800.462.8841 or mail to RRC at the above address.

The Residential Specialist (USPS0021-699, ISSN 1539-7572) is distributed to members of the Council as part of their membership dues. Nonmembers may purchase subscriptions for $29.95 per year in the U.S., $44.95 in Canada and $89.95 in other international countries. All articles and paid advertising represent the opinions of the authors and advertisers, not the Council.

POSTMASTER: Please send address changes to:

The Residential Specialist, c/o Residential Real Estate Council, 430 North Michigan Ave., 4 th Floor, Chicago, IL 60611-4092.

www.glcdelivers.com

Publishing Manager

Scott Mason

Art Director

Ivette Cortes

COPYRIGHT 2023 by the Residential Real Estate Council. All rights reserved. Printed in U.S.A.

To learn more about Inmociónate and register for the event, visit CRS.com/events/ Inmocionate

Exciting International Growth

In a few weeks, Inmociónate will take place in Granada, Spain. This annual event is organized by the Spanish International Realty Association (SIRA) and UCI (Unión de Créditos Inmobiliarios, a bank in Spain) and was inspired by RRC’s Sell-abration® here in North America.

Inmociónate is a play on the Spanish word for “exciting,” and if you were at the 35th Sell-a-bration in Atlanta, Georgia, in February, you probably heard us describing how our Spanish colleagues roll out the red carpet for members who come from the United States. We welcomed about 50 members from Spain and other countries

at a global reception at our Sell-a-bration, and I would love to see at least that many North American CRSs attend Inmociónate in its 13th year.

Spain sees our CRS education as the gold standard for residential real estate education. Achieving a CRS Designation in Spain is like getting your Ph.D. here. It’s a huge honor for them to attain their designation, and anyone who is a CRS Designee in Spain is a top-notch real estate agent. Because of our 20-year relationship with UCI and SIRA, they are ahead of the game compared to other countries in terms of licensing, along with laws and regulations around property sales.

In many countries, the real estate profession is hindered by inadequate education and training. As a result, the Council has gained recognition worldwide and is increasingly appealing to agents who seek to improve their skills. The Council’s core values center around maintaining high standards and professionalism in the industry, with a global reach that extends far beyond the United States.

Our relationship with Spain has helped us develop relationships in other countries, such as Portugal, Italy and throughout Latin America. In turn, this gives our U.S. members global exposure. This event will be another example of how the Council can have a worldwide reach as we promote the professionalism and expertise of the CRS Designation and our industry as a whole.

I want to encourage as many members as possible to attend this great event on June 29–30. In addition to the educational events, previous attendees have shared that the receptions and city tours are spectacular. And this year, all events will offer English translation for those who aren’t fluent in Spanish.

Spain sees our CRS education as the gold standard for residential real estate education.”

BUILD YOUR BRAND AND BUSINESS with

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Easily personalize graphics with your photo/logo and contact information; then share on your social media accounts. Also find pre-loaded, ready-toshare videos and graphics with suggested copy! www.CRS.com/photofy

Themes include seasonal, holiday, listing, and more!

“I just discovered this feature and OMG I’m like a kid in the candy store. Thank you!”

~ Paul Fedyinch, CRS

“This is a great item of value for our members! Way to go creating these pieces.”

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SCAN TO: GET STARTED WITH PHOTOFY

Have you been listening to RRC’s “Real Estate Real Talk” podcast? If you’re late to the party or forgot to tune in, here’s a peek at what our expert CRS hosts have been discussing in recent episodes.

What You Missed on Real Estate Real Talk

Season 2, Episode 3

“What Does It Mean to Be a Hero? — Part 1”

There’s a difference between resilience and durability. My first thought was, those are pretty synonymous, right? But when we really start to dig down, we can start to dissect the minute or subtle differences between resilience and durability. For me, durability, besides enduring, is steadfast, right? It’s going to stand. Resilience means you can knock it down, and it will come back. If a tree is resilient, it can lose a branch and regenerate, or you can [step] on the daffodils and the bulb will regenerate. But it might not be the same flower. Durability is steadfastness. The housing market— the American dream of housing—is durable because it lives through. It stands there through the storm.

Season 2, Episode 4

“What Does It Mean to Be a Hero? — Part 2”

Season 2, Episode 5

“Creating Trust in an Era of Misinformation”

We talked about fake news, but what can we do to combat it? The No. 1 thing is to model good behavior. When you’re going out there and sharing on social media—meaning you’re finding other content—[there’s an] importance of original fact-checked data. Proven content that’s coming from your brain and from a trusted source, like RRC, where we have everything you could possibly share in resources for you that are factual and accurate. Share and check; that’s going to be the biggest message.

Brian Copeland, CRS

Season 2, Episode 6

“Is AI Taking Over Real Estate?”

Listen to new episodes and access the entire archive of “Real Estate Real Talk” episodes at CRS.com/realtalk or wherever your favorite podcasts are found.

I didn’t use to be so flexible. I always wanted to cover everything in my [listing] presentation. Well, now that’s no longer the case. I’m bringing everything with me, but I may not cover absolutely everything. I’m watching, seeing their body language, seeing what they’re asking me and determining what I will present to them. And I will say I have become much more successful. My success rate jumped up by 10%. So something’s working there.

We’re constantly looking at technology for our members and our designees. [But] we have to be so cautious about making sure that we don’t cross any boundaries with Fair Housing or anything like that. What if we were using an AI, and they responded back inappropriately? My concern with associates just using [AI] to come up with descriptions and things like that for their properties is if they’re not going back through and really being diligent when they’re checking those descriptions, they could be putting something out there that is not [compliant with] Fair Housing [standards].

Holli Woodward, CRS

Alex Milshteyn, CRS

Maura Neill, CRS

DIGITAL

Online

Handwritten

Photo:

Kendall Bonner, CRS

The Kendall Bonner Team, Tampa, Florida

How did you get involved in real estate?

I’m originally from Los Angeles, California, and my mother raised me. She was a doctor and she said to me, “J.D., M.D., Ph.D.— pick one.” So, I ended up going to law school and getting my J.D. I got married on Saturday, graduated law school on Sunday and was driving to Florida on Tuesday, moving with my husband to Tampa in 2003.

I took the Florida bar exam, started practicing law and began to build our life here.

Because I’d never actually intended or desired to be a lawyer, I always had my eye open for other opportunities. My husband and I bought our first home in 2004 and a second home in 2009. Through that process, I realized, “Wow, I really like this. I enjoy looking at homes. I enjoy looking at new construction, I should get my real estate license.”

In 2011, I got my real estate license, and I had

a recruiting letter from a brokerage I had received two years earlier. That managing broker was still at the company, and he brought me on. After 30 days of training, I told my husband that I was no longer taking any legal clients. I was going to service the clients I had and was moving to be a fulltime REALTOR®.

How did you decide to pursue the CRS Designation?

In 2014, I was recruited by RE/MAX to start a franchise, and it was through RE/MAX that I really learned the value of having a network. I was becoming more aware of the value of designations, and the CRS Designation felt like it was the right one for me. I started taking the courses, and even before I finished, I was so impressed that I encouraged all my agents to pursue it. I told them that this education is phenomenal; some of the best I’ve ever seen. I also felt the network was very strong and

I respected the fact that CRS Designees would refer to one another. When one of my dear friends reached out to ask me to vote for her for a leadership role at the Council, it made me realize that I had to finish what I had started so many years ago, because I wanted to be more completely a part of this awesome, phenomenal community of leaders that I already knew and trusted.

How is your team dealing with the market in Tampa these days?

Our team is doing really well. I’m so proud of our team members. We believe that your gold mine is in your pipeline, and we have been working to get our agents to have an activated pipeline, which means a strong list of people who are ready to buy today, tomorrow and sometime in the future. And we have tons of people—I don’t like to call them “leads;” I prefer to call them “opportunities”— who were in our pipeline 12 months ago, who were priced out of and exhausted by last year’s market and are now prepared to get back into the

market this year.

On at least a quarterly basis, we have educational seminars for consumers to answer some of those frequently asked questions that they all have about buying a home.

How do you stay engaged with your community?

One of our core values is “serve regardless of opportunity.” The purpose is to give back to our community without expecting anything in return. Last February, we did an intentional (instead of random) acts of kindness day. So, we got backpacks and stuffed them with paper towels, toilet tissue, socks, toothpaste, deodorant, lotion, lip balm, tents and blankets, and handed them out to the homeless members of our community. Because homeownership is unfortunately not achievable for everyone, but having shelter is a vital necessity, we wanted to do something to help take care of people with whom we normally wouldn’t ever work because of their situation. We also donate money to the Children’s Miracle Network from every transaction we close.

Kendall Bonner, CRS, achieved the CRS Designation in 2022. She can be reached at kendall@ rcrtampa.com or 813-536-6026

One of our core values is ‘serve regardless of opportunity.’”

Cultivating Online Communities

By Caroline Heller

Nobody likes a troll; the kind who wreak havoc in a virtual community or forum. Many agents are either members of or run their own online communities—digital places where people can come together to discuss common interests. But, when it comes to running an online group, the important thing to remember is cultivating a sense

of community is just as important online as it is offline. In other words, do not feed the trolls.

Named one of the Top 200 Power Social Influencers, Brian Copeland, CRS, owner of Doorbell Real Estate in Nashville, Tennessee, gives his advice on how to use digital forums to covertly convert internet users into clients.

Harmonize the “real-life you” with the “online you” Give people the chance to meet you in real life. “If people can’t meet the ‘real-life you,’ then you’re missing the opportunity,” says Copeland. You have to go to in-person events just as much as you are being an online presence. For example, Copeland runs a local Facebook group called “Neely’s Bend Neighbors” and goes to events like Kiwanis breakfasts to meet the people he interacts with online.

You also have to be an authentic version of yourself online. “Let me tell you a little story about what I call ‘Corn Chip Dissonance,’” says Copeland. “For years, my grandmother would always have a bowl of corn chips on her table that she would never let me eat. When she finally let me eat one, I took a bite and realized that the corn chips didn’t have salt on them. I hated them! Don’t be the corn chip.”

The morale of the story: “You’ve got to be the same person they expect to meet,” says Copeland.

Add to the comfort not the chaos

“As REALTORS®, our brand is home,” says Copeland. “Do people want chaos in their home or comfort? When you are not only administrating an online community, but are present in an online community, you should always be the voice of calm, comfort and sanity.”

In other words, no one wants a troll in their home. “You have a choice when you decide that you are going to comment on something,” Copeland says. “You can either add to the chaos or add to the comfort.”

Instead of jumping into a political conversation or putting on a partisan hat, be the voice of reason instead.

Don’t walk in with a billboard of yourself

Treat the online community as you would a party. “Just as I wouldn’t go to a party, walk into a room and yell, ‘Hey, I’m a REALTOR®, refer to me,’ I wouldn’t go into an online forum shouting for referrals,” says Copeland. A common mistake that REALTORS® make is using online communities, say a neighborhood group, as a way of posting listings.

“People have Realtor.com for finding listings,” says Copeland. Even though he runs an online community that includes his neighbors and sales market, Copeland doesn’t use the virtual space for posting listings or explicitly marketing himself.

Make sure some information is visible

When it comes to Facebook and Facebook groups, you want to make sure that people know what you do and are able to contact you. “Make sure your personal Facebook page has some photos that are public,” says Copeland. “Also make sure your sales market information is there and at least your

When it comes to running an online group, the important thing to remember is cultivating a sense of community is just as important online as it is offline. In other words, do not feed the trolls.

email address.” People want to see photos of you as a way of determining if you’re a real person or not. If they can’t quickly find a way of contacting you or don’t know what areas you cover, they are going to move on.

Tap into your passions and hobbies

Join as many online communities and Facebook groups as you can, especially ones that interest you. Copeland is a member of a number of online communities that align with his interests and hobbies— from ATV riding to photography. He says his hobby of photography netted him over $5 million in one year alone.

MARKET MOMENT

Builder Bargains

Homebuilders cut prices for newly built homes in 2023 as the slow start to construction in 2022 resulted in a glut of unsold inventory.

The slowdown was caused by lower demand for homes due to rising mortgage rates and the fact that more Americans are renting instead of buying. The increase in rental stock has resulted in less demand for new homes and has pushed builders to cut prices to clear out inventory.

In addition, inflated prices combined with lingering shortages of building materials have further dampened builders’ taste for new home starts.

There have been a lot of signs that the market is slowing down—the main cause being interest rates hikes—but this is one of the first concrete signs that this slowdown has begun to impact builders.

So, what does this mean for 2023? It means we’ll see even more price cuts and slower construction starts as builders try to manage their inventory so they aren’t stuck with too many unsold homes on their hands.

Robert Dietz, chief economist of the National Association of Home Builders (NAHB), offered a prediction that the pace of new single-family starts would continue to slow through the first half of 2023 and begin climbing once the Federal Reserve Board can stabilize interest rates.

“Case in point: In 2011 or 2012, I started a group called ‘Neely’s Little League,’” says Copeland. “And early on I took a photo of a little boy at bat and posted it to the forum.” Copeland says that last year a family reached out to him about selling their home.

“When I walked into the house, they had that photo on their mantle. ‘This is why we picked you,’ they said. ‘You took our favorite photo of our son, and soon he will be leaving for college on a baseball scholarship. We owe you,’” Copeland says. You never know where your hobbies might lead you and what doors they might open.

For more on getting started with a Facebook community, check out the tutorials at facebook.com/ business

New Privately-Owned Single Housing Units Started in the U.S.

On average, builders have reduced their prices by 6%, according to the NAHB.

Source: USA Today

% Change from January 2022 to January 2023: - 27.3 %

Source: U.S. Census Bureau and the U.S. Department of Housing and Urban Development

Handling Discrimination in the LGBTQ+ Community

By Lisa A. Beach

Bias and discrimination of the LGBTQ+ community hit the real estate industry on multiple levels, impacting agents and homebuyers and sellers. According to a 2022 report published by the LGBTQ+ Real Estate Alliance, unconscious bias and blatant discrimination persist in the real estate industry—despite Diversity, Equity and Inclusion (DEI) efforts and increased marketing towards the LGBTQ+ community.

To gain perspective and to understand what’s happening in the field, members share their experiences and how they choose to handle these situations .

On the agent side

Just ask Gianetta Wilson, a real estate consultant and licensed agent with Keller Williams Realty in Savannah, Georgia, and St. Petersburg/Tampa, Florida. Wilson, who is actively earning her CRS Designation, was talking once with a set of sellers and they turned her away after the conversation shifted to family dynamics.

Wilson’s strategy to win customers focuses on talking about the market, which establishes her as the local expert. But she also tries to make that personal connection, sometimes asking sellers if they have kids. “As soon as I started talking about my family, I could feel the energy shift,” says Wilson, who identifies as gay. “I’m very open about who I am,” she says. “When I brought up the fact that I have a son and a female partner as we shared family photos, they were taken aback, saying, ‘Oh, you have a son? Who’s the father?’” Wilson recalls.

On the buyer/seller side

On the customer side, Khoi Le, CRS, broker/owner with Hunter Chase Realty in Albuquerque and Santa Fe, New Mexico, recalls a seller who explicitly asked if the buyers were LGBTQ+ members after noticing the same-gender names on the purchase agreement. “Why would it matter?” ponders Le. “He wouldn’t blatantly say, ‘I won’t accept the offer because of this,’ but there was a level of bias with it.” The seller started leaning toward a different offer. Only after Le explained that the buyers were a father/son duo did he move forward with the transaction.

Wilson and Le note that discrimination often occurs in the subtext. “We don’t usually hear of a failed transaction. The customer may simply ‘move in another direction’ but may not say why,” points out Le. “If there’s discrimination, it’s very coded.”

When I brought up the fact that I have a son and a female partner as we share family photos, they were taken aback.”

—Gianetta Wilson

of Population in the United States

that focus on LGBTQ+ issues and provide a referral network of agents and allied partners. Equip yourself so you can be informed and educate others. (See sidebar for resources.) “Even though I’m part of the community, I need to keep abreast of issues, too,” says Le, noting he’s taken training on pronoun usage to adopt more inclusive language.

Model what you want to see

Tips for fostering acceptance and increasing awareness

How can you foster acceptance of the LGBTQ+ community and increase awareness within your own business, your company and the real estate industry?

Wilson lives by the motto: you get what you focus on. “I want to be the example that I didn’t have so other LGBTQ+ families can look at me and think, ‘Oh, look at her, she’s flourishing in real estate, she looks like me and she’s an advocate for the LGBTQ+ community.’ The more we show up, the better it gets.” Wilson proudly shares she’s a member of Keller Williams Rainbow Network. “It supports other LGBTQ+ industry members and helps connect clients with REALTORS ® who understand what it’s like to walk in their shoes,” she explains. The group aims to serve its LGBTQ+ communities, clients and agents, and that includes “advocating for support, diversity and inclusion at every step.”

Be proactive

Get educated

While most people know it’s illegal to overtly discriminate, bias and discrimination can pop up in many nuanced ways.

“Having a DEI program as a requirement is going to be a major step in moving forward,” notes Le. Do a deep dive into current market data about LGBTQ+ homeownership. Connect with real estate groups

Le recalls two male buyers who stressed the importance of being represented correctly on the American Land Title Association (ALTA) settlement statement. “The sellers were noted as husband/wife but there was no option to highlight the buyers’ status,” explains Le, noting it sent the message that the buyers were not equal. “It was a big deal to them, as it should be,” Le says. “I represented them, so it became a big deal to me and my team.” Le took this cause to heart, not just on behalf of his clients. He’s now working to get all title companies on board on a national scale. “It might be insignificant to you, but it’s a big

Source: The Williams Institute

Inclusion Ending intolerance in the industry

LGBTQ+ RESOURCES

Looking for real estate-related resources to assist those within the LGBTQ+ community?

Start here

LGBTQ+ Real Estate Alliance: Launched in June 2020 by leading members of the real estate industry, the Alliance joined with other members of the LGBTQ+ community to enhance the professional lives of its members while providing consumers with the proper resources to assist in buying, selling, and enjoying their home.

National Association of Gay & Lesbian Real Estate Professionals: Part business, part advocacy, NAGLREP provides a REALTOR ® referral network and advocates on behalf of the LGBTQ+ community as it relates to housing and discrimination laws.

The LGBT+ Housing Initiative: Started by Keller William agents, this program gives grant money to families seeking homeownership and connects them with local agents across the country.

Keller Williams Rainbow Network: This is an independent, membership-based association of LGBTQ+ REALTORS ® and professionals associated with Keller Williams Realty, Inc. Other real estate companies might also have similar initiatives.

Freddie Mac Report: This 2018 report titled “The LGBT Community: Buying and Renting Homes” sheds light on the statistics and challenges of buying and renting a home for people within the LGBTQ+ community.

Adult LGBT Population in the U.S.: Created in July 2020 by the UCLA School of Law Williams Institute, this fact sheet provides a current estimated number of LGBT adults in the U.S. broken down by state.

deal to others—they don’t have that voice, that platform, to make that change. It’s up to us (the real estate industry) to take that initiative,” he says.

Report discrimination

The National Association of REALTORS® includes a section on discrimination in its Code of Ethics. If you see or hear of a situation where someone is being biased—whether it’s a buyer, seller, fellow agent or broker— you

should report this discriminatory behavior to NAR and your state and local association, advises Wilson.

“As a REALTOR®, you’re helping individuals, investors and families—that’s the main job. You’re trying to be relatable, be the expert who will take care of them, all while being authentic,” Wilson concludes.

“Everyone has their struggles and you’re just the friendly guide in their stories, ensuring they know you’ve got their best interest at heart. You become their trusted REALTOR® for life.”

Le adds, “Seeing RRC talk about this at all is a great sign. As a member of the LGBTQ+ community, I feel relief, I feel seen. And this should be what my clients feel, too.”

An estimated 1.6 million people ages 13 and older in the U.S. identify as transgender.

Source: The Williams Institute

For more advocacy-related issues and resources visit NAR.realtor/ advocacy

Making notes popular again Research from Mailchimp, a well-known email marketing platform, shows that the average open rate for emails from all industries was 21.33%. And according to a recent CBS news study, most Americans haven’t handwritten a personal letter in over five years.

Handwritten notes are having a comeback, as they are now considered novel. Almost everyone opens a handwritten note. People love them—it feels special and is a great way to show people you care. Consider putting pen to paper if you’re looking for a new marketing effort. Even if it’s hard to know if the efforts turned into leads, the effort will be appreciated and your relationship will blossom.

Technology can help

You may meet with multiple potential clients a week, scroll through social media and see major life updates from your current clients and wonder, how can I write and send handwritten notes with my limited time? There are numerous handwriting services to consider to scale your handwritten outreach and save time and effort in your busy life as a real estate professional. Though they aren’t exactly handwritten, they look and feel just like a true pen-and-paper note, which is what’s important. They even come with a range of customization options, like including a business card, and exude a personal touch for the receivers.

TWO HANDWRITING SERVICES TO CONSIDER:

handwrytten.com

f Handwrytten uses custom-designed handwriting robots that hold real pens to write out the notes in the handwriting style of your choice. Artificial intelligence ensures the note is unique and looks authentic. The notes are usually delivered in 3–4 days. The interface and usability of its website and mobile app are highly rated, the variations of handwriting styles give you a hyper-realistic version that you can pass off as done by yourself and you can get a lot done very quickly. Cards start at $3.25. If you plan on sending many, there are subscription plans, bulk discounts and prepaid options.

Research from Mailchimp, a well-known email marketing platform, shows that only 20% of all real estate emails sent are opened. Handwritten notes, however, are nearly always opened because they’ve become such a novelty.

Source: NAR

Simplynoted.com

f Simply Noted is a great service for those seeking high-quality, personalized stationery. The most beneficial aspect of this service is its ability to add a personal touch to your communications. The handwriting itself is beautiful, and the various options of paper types and colors available make it easy to find the perfect fit for your needs. Prices also start at $3.25, with the ability to send your first card out for free to try the service.

People love handwritten notes; it feels special and is a great way to show people you care. Generate and retain more business while surprising and delighting your clients or friends—a win-win

Learn more relevant marketing strategies in the one-day course Top of Mind Techniques to Boost Your Brand, hosted by Kim Knapp, CRS, at CRS.com/ catalogsearch

MATTERS

By Regina Ludes

When speaking with buyers during their home search, the subject of schools invariably comes up in conversation within the first few minutes, says Maura Neill, CRS, REALTOR® with RE/MAX Around Atlanta in Atlanta, Georgia. At that point, she begins to explain fair housing rules because most buyers don’t understand what an agent can and cannot tell them about schools.

“I want to make it clear what role I should take or if I have to take certain locations out of their search. That’s to protect them and me. Most clients will respect your need to follow fair housing laws,” says Neill, a former public school teacher.

According to the National Association of REALTORS® (NAR), 23% of homebuyers believe quality schools are an important factor when choosing a place to live. That rate increases to 30% for buyers in their twenties, and 40% for those in their thirties. Answering questions about school districts can be tricky, so agents should have a thorough understanding of fair housing rules and the NAR Code of Ethics before answering them. With this foundation, CRS agents can find ways to share resources about schools that help their clients make smart housing decisions without violating fair housing laws.

Education plays a big role in the homebuying process.

Fair housing laws limit what information we can legally provide clients regarding specific schools and districts.”

–Kelly Crowe, CRS

OBSERVE DISTRICT BOUNDARIES

boundaries and website links, and she encourages clients to call the districts to confirm their online information. “Even though I know where the good schools are, I advise clients to do their homework,” Kula says.

PROVIDE RESOURCES AND ADVICE

When clients ask about schools, Kelly Crowe, CRS, associate broker with Baird Warner in Geneva, Illinois, responds by sharing the link to Illinois Interactive Report Card, an online website that publishes academic performance of public schools in the state, such as graduation rates, school finances and student demographics. Crowe also encourages them to contact the school district if they have questions or to schedule a school tour. “Some kids may have special needs, while others are interested in sports or are looking for gifted programs. Parents know best what their kids need,” Crowe says.

When shopping for a home, many buyers are drawn to neighborhoods with better schools because they understand its impact on housing values and resale potential. Homes for sale in better school districts tend to be in higher demand and sell faster, too. There are downsides, however, such as higher property taxes and higher sale prices.

For many buyers, school districts are more important than a home’s location, says Rita Kula, CRS, associate broker with @Properties in Naperville, Illinois. Younger couples with kids or who plan to start a family insist on the better schools, she adds, while older couples and empty nesters care more about the house and its potential resale value.

But school district boundaries don’t always align with the towns they’re located, which can impact buyers’ housing options. “You can have a fabulous four-bedroom house backed up to a golf course, but it might still be located in a district with less desirable schools,” Kula says.

Some towns can be served by multiple school districts, as well. One such example is Bolingbrook, Illinois, which feeds into five different school districts, including several in neighboring towns. “It’s hard for people to grasp that they could live in one location but their school district is somewhere else,” Kula says.

For clients with strict budgets who still want the better school district, she might suggest searching for a home in neighboring communities that are more affordable but will still be in the school district they want.

To assist clients with their due diligence, Kula shares school rankings websites and school district profiles. She also provides a list of school districts with their

When one of her clients asked to search for a new home in the same elementary school district that her child was already attending, Crowe did a map search in the MLS to find homes for sale in that area. “That’s not a violation of fair housing laws because, in that instance, my client told me what she needed for her child,” Crowe explains. “As agents, we have to guide our clients to the information they’re requesting for their home search. Fair housing laws limit what information we can legally provide clients regarding specific schools and districts,” Crowe says.

Brian Harris, CRS, broker with Kentwood Real Estate in Denver, Colorado, estimates that three out of five clients inquire about schools. While many of his clients have kids, others don’t but still seek a home in a good school district because of the higher property values.

To aid in clients’ school research, Harris offers several resources, such as district maps or school websites. He sometimes drives clients around town to show where schools are located, and he and his wife have coordinated school tours for clients.

If someone asks about a specific school and it’s one that Harris’s own kids attend, he’ll share his personal experiences with the client as a parent would, which doesn’t violate fair housing laws. Otherwise, Harris recommends they check out online sites such as GreatSchools.org, which rates public and private schools based on different criteria, such as graduation rates, student test scores and parental feedback.

“If clients tell me that they want to focus only on schools with a ranking of seven or higher, I can eliminate the neighborhoods with lower-ranking schools,” Harris says. “I never tell them ‘this is where you should look.’ I always recommend that they make their own decisions.”

how important are schools in choice of neighborhood?

Quality of the neighborhood remains the most important factor for most home shoppers. However, for younger buyers, the quality of schools is also important.

USE CAUTION

Despite the fanfare surrounding school ratings sites, Neill cautions clients about relying too heavily on them for information. The scores, she explains, are based on algorithms, much like Zillow’s Zestimates, and aren’t always accurate. Buyers often have different criteria for assessing schools than the ones used by online sites. While the sites may be a good starting point for research and provide some valuable information about schools, Neill says they

MARKETING TIPS

When marketing listings, Neill sticks to the facts. While she thinks it’s safe to mention that the house is located in a certain school district or that its football team won the state championship, she avoids expressing opinions or using subjective descriptions such as “desirable” or “best.”

Harris also emphasizes only factual information in his marketing. “If a school has received high rankings on GreatSchools.org or received some award or recognition for its academics, we might

shouldn’t be used as a definitive guide about a school’s overall performance.

To encourage buyers’ own research, Neill refers them to the buyer library on her website where they can read about finding schools. When districts publish their school calendars, those links are posted on her website, too. She also encourages buyers to talk to school administrators and provides them with a list of sample questions they might ask.

“I want to be sure they’re searching for a school that’s the best fit for their child’s needs, not based solely on some numerical score,” Neill says.

highlight it,” he says. “With more facts and data, clients can make better decisions.”

By providing clients with ample resources and sound advice, agents can give buyers the assistance they need to make smart housing decisions near schools that best fit their family’s needs.

NAR has a host of resources for agents to provide homebuyers looking at schools

Visit NAR.realtor/ schools-thehomebuyingdecision to learn more.

Source: 2022 NAR Home Buyers and Sellers Generational Trends Report

Lead sellers like Zillow, Market Leader or BoomTown have buying options.

By Michelle Huffman

“In our market, the number of closed transactions has decreased dramatically,” says Paul Rich, CRS, broker/ owner of Achieve Real Estate and Management in Hendersen, Nevada. “That means more agents are finding themselves with a slowdown in their business, and those that may not currently buy leads may start considering it.”

But many agents caution that these vendors offer poorquality leads, low conversation rates and limited return on investment. When should agents engage these services, how can they find success and what could they be doing instead?

to buy

Situations where buying leads might make sense

When you’re new to the industry. “I can justify buying leads to get a kick start for agents who have no sphere of influence,” says Thomas Johnson, CRS, owner of MyCoachTomJ, and managing broker of Unrealty Florida, LLC. That was the situation Audrey Moore, broker/owner of TLC Real Estate in Alexander City, Alabama, faced when she started out. “Buying leads helped prime the pump for me,” she says. Now she sees it as good training for agents underneath her.

When you’re new to an area. Lucette Wallach, principal broker with eXp Realty in Brookings, Oregon, purchased leads when she moved from California to Oregon. “It’s great for getting your phone ringing,” she says.

When you’re willing to work less popular areas. When Moore purchased leads recently, the ZIP codes she wanted were all sold out, so she bought in outlying areas. While this meant more driving and working a lower-priced market, the investment did pay off, she says.

With the decline in activity in some markets, agents are looking for new leads wherever they can find them.

I can justify buying leads to get a kick start for agents who have no sphere of influence.”

—Thomas Johnson, CRS

how to work these leads effectively

Spend enough to be a top agent. Part of the reason these leads are so expensive is that you must spend enough to not just appear on listing sites, but to be one of the top few agents on the page to get higher quality leads, Moore says.

Put them into your CRM. Ensure your leads are nurtured through a communication plan like marketing emails. This repeat exposure can pay off: Johnson recently met one of his cold leads, who showed up at an open house after receiving his emails for months.

Meet in person quickly. “If at all possible, I want to get faceto-face so we can have a conversation and start building a relationship,” Moore says. She finds this establishes trust faster than pre-qualification and gives her an opportunity to see more listings.

Finally, Johnson recommends setting up a plan to wean off paid leads and replace them with an active SOI and referral network.

Commission earned may not overtake dollars spent.

Knolly Williams took more than 1,000 listings during his first 10 years in the business. Check out How to Get More Listings in the Market of the Moment at CRS.com/ webinars to learn how to duplicate his success.

Conversion rates are generally low.

Rich says he averaged a 1%–3% conversion rate, typical of these programs. “With certain systems, such as a dedicated inside sales agent, you may be able to double that conversion rate, but at a great expense,” he says.

When Wallach launched her business in Oregon, she spent almost $10,000 as a premier agent for a listing site, but she only made $3,600 in commission on those leads.

Johnson was spending $20,000 a month on paid leads, but when he started analyzing his ROI, “I was barely breaking even,” he says. “They were not the source of where my actual business was coming from.”

Cold leads take more work to win over.

Prospects that come to you completely cold often require extra effort to build trust throughout the entire process. “It may be more valuable to double down on your SOI and past clients rather than chase the ‘shiny object’ of paid leads,” Rich adds.

what kind of ROI you can expect

other options instead of buying leads

1 Farm by mail. Wallach uses a free National Association of REALTORS® membership tool, Realtor Property Resource, to generate geo-farming lists to send a mailer every four to six weeks using her bulk mailing permit. She says for every 1,000 she mails, she gets one good lead. For $425 in costs, she makes $8,000 in commission.

2 Be a part of the community. Moore recommends engaging in the community, whether it’s joining a service organization, club or chamber of commerce. Wallach even generates leads by doing paperwork at a coffee shop with a stack of business cards in front of her.

3 Become the expert on social media. “We live in a world of creating impressions online,” Johnson says. “If you’re looking like you’re the only REALTOR® in town then people are going to think you are.”

Rich and Moore say that becoming the go-to expert in your community on social media is important. Promoting business owners and community leaders in videos and photos goes a long way.

4 Work your sphere systematically. “Learning how to work your sphere correctly will

get you the best return,” Johnson says. He sees a 10% annual return doing this. In his database, he keeps an A group of 50 people that actively refer business, a B group that keeps him top of mind and a C group that will either move up or off his list. The A group is where he spends most of his time building relationships. Rich recommends making personal contact with your SOI four to six times a year. Break down the total touchpoints over time to determine how many you need to connect with each day and stick to it.

Moore recommends simply following up with past clients. “Don’t take a cold lead to a hot lead to getting them through the transaction and then let them go back to a cold lead.”

Regardless of how you generate leads, there is always cost involved, so paying attention to the ROI of that financial decision is essential.

“When it comes to the decision to buy leads versus generating organic leads, it’s important to remember that either lead type involves an investment of some kind,” Rich says. “We will either be investing our time, our money or a combination of both.”

FLEXIBLE AND FRUITFUL

By Megan Craig

Guy Lofts, CRS, is a successful REALTOR® with a cozy office in snowy Madison, Wisconsin.

But this past winter, he made most of his business calls from the beach. Being licensed in Wisconsin allows Lofts, a broker with Real Estate Guy brokered by Real Broker LLC, to keep serving his long-term clients at his home base. Now, after 30 years in the Midwest, he and his partner are testing out Florida and California and plan to license in one of those places, as well.

“We’re not getting any younger. Suffering through five months of winter was really the spark,” he says.

Whether easing into a snowbird retirement, transitioning to a new market, positioning themselves to sell more vacation homes or simply taking advantage of connections across multiple states, many REALTORS®, like Lofts, are making the most of multistate licensing.

Making multiple licenses worth your time

Peter West, CRS, broker owner of Bishop West Real Estate in Venice, Florida, also holds licenses in Massachusetts, Vermont and New York.

West has all those licenses near Massachusetts for one simple reason: Drive 15 minutes from his office there, and you’ll end up in either New York or Vermont. When people look at homes in his area, it wouldn’t be uncommon for them to look in two of the three states, West says. Florida, although not a bordering state, is a popular destination for snowbirds from New

England. When West found an opportunity back in 2005 to do some land deals in the Sunshine State, he made the business decision to get his Florida license. More than 10 years later, another opportunity presented itself with an agent based in Florida and led West and his business partner to open an office there.

“And I’ve been very busy and active in the market since,” he says.

Rob Levy, CRS, a principal broker with Keller Williams Realty Professionals in Portland, Oregon, says he didn’t get a second license to get rich. For him, it was “a lifestyle choice.”

As he and his wife look toward retirement, they thought they might do what so many people do after years in the Pacific Northwest: Look for a sunny spot in Hawaii, Arizona or Palm Springs, California. When Levy made seven referrals to Palm Springs in one year, he realized he should probably stop referring and start selling there.

“I was kind of joking with my accountant one day and said, ‘Hey, if I was a really good REALTOR®, I’d just fly down there and look at houses with them!’ And he told me I could write that off [on my taxes], but he’d

rather I have a license there to do it. And the rest is history,” Levy says.

And even though he didn’t only do this to make money, Levy says the shift to working in both Oregon and California has been lucrative thanks to high average home prices in Palm Springs.

West says multiple licensing could work for anyone who regularly visits another state.

“You just have to have a reason—a solid reason—and a desire to go to that other place,” he says. “The rest is just building your business.”

Know Whether Multistate Licensing Will Work for You

Being licensed in two or more states can be a time-consuming process—taking more classes, studying for more exams, establishing a new office, marketing yourself to a new client base and maintaining those licenses year after year.

It’s not always worth it

Linda Crane, a REALTOR® with Berkshire Hathaway HomeServices, Fox & Roach REALTORS®, and the Trident Group, was based in both Newtown, Pennsylvania, and Pennington, New Jersey. She lives in Pennsylvania but is originally from New Jersey, and because the states border each other, she thought dual licensing would be a masterful move for her business. She’d list the New Jersey homes owned by buyers moving to Pennsylvania (parts of New Jersey are feeder areas to Crane’s area in Pennsylvania). In the few years that she was licensed in New Jersey, the clients that Crane did sell the homes of moved out of the area completely. In the

process, she learned that she much preferred placing her focus on one area.

“Whether helping clients buy or sell homes, whenever possible, I believe that our greatest value comes while offering people specialized attention,” Crane says.

Crane has changed her sales strategy and now prefers to focus on only selling to her Pennsylvania clients while acting as a connector for people located elsewhere—not just in New Jersey, but through referrals to other agents across the country and the world.

Crane’s advice for REALTORS ® who want to make multistate licensing work across state borders:

1. Know what you’re getting into. Research each area beyond your primary state so that you’re sure obtaining another license will be worth your investment, time and money.

2. Host open houses in both states. That way, you’ll meet both buyers and sellers from each area, potentially boosting your business. It will also give you exposure to other agents.

3. Target your marketing. Learn which specific areas people are coming from and moving to within your states, and market to those areas specifically rather than trying to do blanket marketing across entire states.

4. Network, network, network. Bond with agents in both states, especially if you work for a company that sells in both places. Other agents can help you become a master of the new area faster. Research and join effective networking groups in both areas.

5. Build up vendor contacts in both places. This will make you look (and feel) more equipped to work with clients across borders.

The Second (Or Third) Licensing Process

After she moved to Boston, Portia Green, a principal agent at Compass Real Estate in San Diego, decided to keep her California license. When, 10 years later, she and her fiancé moved back home to California, that license came in handy. But she kept her Massachusetts license, as well.

“I knew I wanted to have that referral avenue, having that experience in real estate and always kind of using both places as touch points,” she says. Getting licensed in both places was “pretty easy,” she says, however, the real estate laws of the two states—literally on opposite sides of the country—aren’t similar at all. That added the need to study hard for

licensing exams in each place but helps Green to keep the rules straight between the two. Since the differences aren’t subtle, she never has to think hard about which rules to follow in which states.

For Peter West, CRS, broker owner of Bishop West Real Estate in Venice, Florida, having years of real estate experience was key to the process, even though some of those states had only partial or no reciprocity. West holds licenses in Massachusetts, Vermont, New York and Florida, and the process was slightly different for each place.

The only way to know exactly what you’ll have to do to get licensed

Marketing to the multistate masses

Although he started selling in Massachusetts and owns homes in both places, West said he now considers Florida his home base—and good thing, since he’s the state’s 2023 RRC president. But he still maintains close ties with his New England clients, continuing to operate an office in Massachusetts.

“The CRS Designation is the best tool to cross-market yourself, by far,” he says, adding that he always hands out his Florida business card at conventions in the Northeast and his Massachusetts business card at conventions in Florida. That way, people

in a new state (and whether it’s worth your time and effort) is to research beforehand, West says.

The good news is, once you’re licensed, a lot of information is similar enough among some states—even those without reciprocity— that keeping licenses in each place is possible without duplicating continuing education

classes, says Rob Levy, CRS, a principal broker with Keller Williams Realty Professionals in Portland, Oregon.

“The generic stuff— titling, company information—the classes on those items work for multiple states. So you pay for it in one state and get credit for it in the next state,” Levy says. “You don’t have to do double the hours.”

know you’re licensed in a place they may be looking to move, and other REALTORS® know to refer clients to you in those states.

Portia Green, a principal agent at Compass Real Estate in San Diego, has licenses in both Massachusetts and California. For her, it’s all about maintaining close contacts in both places so your word-of-mouth business booms.

“It’s a small world, as they say,” Green says. “It’s just one more thing you can share to stay top of mind, to essentially just kind of be part of the community from afar. It’s all about keeping in touch with people wherever you are, wherever they are.”

Is your state real estate license recognized by another state?

Check at NAR. realtor/licensereciprocity-licenserecognition

The CRS Designation is the best tool to cross-market yourself, by far.”

—Peter West, CRS

LINKEDIN is different

By Steve Hendershot

Every

While they all have the ability to connect with clients and colleagues, LinkedIn’s professional focus makes it unique. One reason is the audience: LinkedIn is an ideal spot to reach homebuyers as well as the people who advise them.

“The gatekeepers—lawyers, accountants, financial planners—they’re all on LinkedIn,” says Jack Cotton, CRS, an agent for Sotheby’s International Realty who specializes in luxury homes on Massachusetts’ Cape Cod peninsula. “When their clients have a need for a REALTOR®, [gatekeepers] will poke around to see who’s out there” that they could recommend.

Earning that sort of high-end referral is a dream scenario for many REALTORS ®—yet it’s easier dreamed than done. Here are five tips to crafting an effective LinkedIn presence that can win the trust of gatekeepers, potential clients and colleagues alike.

Make yourself an expert

Cotton succeeds in winning over gatekeepers only because his LinkedIn positions him as a real-estate expert who is worthy of a high-end referral.

From his LinkedIn blog posts focused on educating fellow agents, to his profile that highlights his “Selling Luxury Homes” book, Cotton aims to position himself as not just a REALTOR®, but an expert REALTOR®. That strategy not only leads to referrals from

fellow agents, but also lends him credibility in the eyes of those gatekeepers.

“The overriding thing I’m doing on LinkedIn is conveying and displaying my expertise, because people on the high end only want to deal with experts,” Cotton says. “They see this guy who’s posting all this content and who other agents are learning from, and think, ‘Because he’s teaching other REALTORS ®, he must really know what he’s talking about. I think I’ll recommend him.’”

social media platform offers opportunities for real estate professionals.

Position yourself as a problem-solver

One caveat to the previous point: Expertise in a vacuum isn’t worth much. Your value will come from positioning yourself as an expert who is capable and interested in solving people’s problems.

“You always have to come across as a solution provider who is willing to help,” says Burton Kelso, a Kansas City-based consultant who provides tech advice to real estate professionals. Your aim should be to convey leadership as well as approachability, “making sure that people understand that they can come to you,” he says.

Don’t just push out content—participate, too

While demonstrating expertise is valuable, you’re missing the point if you only see LinkedIn as a place to flex. As with other social networks, there’s huge value in liking and commenting on others’ posts, and keeping up with the career changes and ideas of those within your network.

“Yes, it’s a place to build your identity as a thought leader, but it’s also a place to get information. You don’t want to be unilaterally pushing information out—you should also absorb it,” says Jason O’Neil, CRS, president of Circle Real Estate in Carmel, Indiana.

That includes paying attention to content from industry experts such as Lawrence Yun, an economist for the National Association of REALTORS ®. Market news and insights can not only prove informative, but also can make for great re-posts that enhance your own credibility.

“I’m following people that are relevant in this business so that they can keep me relevant,” says Tamara Fox, CRS, an associate broker with RE/MAX Unlimited in Huntsville, Alabama.

A sneaky source for market intel

Clients don’t necessarily post on LinkedIn to announce their plans to move. But announcing a new, out-oftown job can amount to the same.

“It’s where professionals are going when they’re changing jobs, and when they’re looking at new areas for potential job moves,” Fox says.

That sort of insight can be invaluable for REALTORS ®

For example, Tim Kinzler, CRS, a REALTOR® at Keller Williams Realty in Boca Raton, Florida, used LinkedIn to research a potential referral, and not only learned about the client’s background and likely price range,

but also discovered that the client’s entire company was relocating to Florida, opening up the possibility of additional referrals.

“It allowed me to have a better understanding of who I was dealing with,” says Kinzler.

The value of that sort of client insight also may make it worthwhile to consider LinkedIn Premium, which enables users to see who views their profiles. O’Neil says that feature helps him anticipate and prepare for potential referrals.

“I’ve found that most professionals view your profile before interviewing you,” O’Neil says.

I’m following people that are relevant in this business so that they can keep me relevant.”

—Tamara Fox, CRS

Before you start posting blogs or engaging potential leads on LinkedIn, a crucial first step is to ensure your profile is ready for prime time. Here are a few questions to ask yourself before hitting “update.”

1

Are you searchable? Are you reachable? Some agents like to get creative with their job titles, calling themselves matchmakers or home-finders, for example. But when people turn to LinkedIn for help buying or selling a house, they’re likely to search for “REALTOR ® ” or “real estate agent.” It’s important for your profile to contain those key terms as well as your contact information, says Tamara Fox, CRS, an associate broker with RE/MAX Unlimited in Huntsville, Alabama.

2

Is everything spelled right? Fleshing out your LinkedIn profile can feel tedious, but it’s important to be thorough and to re-read everything (or, better yet, have someone else read it) before posting. That’s because when you’re trying to put your best foot forward, typos are a killer.

“Especially with this network being a little bit more professionally minded, there’s nothing worse than having misspelled words or poor grammar,” says tech expert Burton Kelso.

Is your profile complete and up-to-date? A strong LinkedIn presence requires ongoing effort—not just creating new content but ensuring that your profile remains up to date and includes items that could spark a connection such as education and volunteer experience.

3

“Your profile has to be accurate and complete. I can’t tell you how many times I see real estate agents whose bio doesn’t match up with their profile,” says Jason O’Neil, CRS, president of Circle Real Estate in Carmel, Indiana.

Find a rhythm (and team) that fits

Agents are busy. So where are you supposed to find the time to create expertise-burnishing LinkedIn content while also engaging with others’ posts?

Some agents choose to partner with marketing specialists to help them stay on top of it. Cotton, for example, creates his own content but relies on others to post it. Fox sometimes uses posts created by an external marketing firm, but curates and edits them to ensure they’re right for her network. Kinzler also uses an external firm but takes time each morning to respond to LinkedIn posts from his network, especially if the initial post was generated by the marketing team.

“That way they know that it’s not a robot,” Kinzler says.

LinkedIn is different from other social-media networks like Facebook, Instagram and TikTok. It’s more professional and buttoned up, and less prone to memes and namecalling—just one reason that Fox describes LinkedIn as “a breath of fresh air compared to some of those other channels that are just, frankly, exhausting.”

LinkedIn also offers lots of potential value to real estate professionals who tailor their marketing strategies to fit the channel’s unique personality.

Check

THE FIRST STEP TO LINKEDIN SUCCESS? DIAL IN YOUR PROFILE

2022 HEALTH INSURANCE

HEALTH INSURANCE COVERAGE FOR NAR MEMBERS

Do you currently have health insurance for 2022?

No–11% 1%–Don't know

What are the reasons you are currently without primary health insurance? (Respondents allowed to choose multiple answers)

� Premiums/deductibles were too expensive

� Couldn’t find a plan that I liked

� There was no legal requirement

� Insurers turned me down because of a pre-existing health condition

� My doctor didn’t accept insurance

� Other

What type of health insurance do you have?

Where did you obtain your primary health insurance? (Full list)

� Spouse’s employer plan

� Medicare

� State or federal health insurance exchange

� Insurance broker

� Full-time job (not real estate related)

� Veterans benefit plan

� Retirement benefits from a former employer

� State or local association health plan

� Medicaid

� Real estate firm coverage

� COBRA from past job or spouse’s COBRA plan

� NAR’s REALTORS® Insurance Marketplace

� Other

SURVEY

Source: NAR

What is the main reason you chose your primary health insurance provider?

● It was the only option for health insurance

● It was the cheaper option after comparison

● It offers better services or benefits

● It allows me to keep my doctors

● Other

Cost of monthly premiums

If a REALTOR ® association health plan were offered with equally-comprehensive benefits as your current plan, would you join it and leave your current health insurance plan?

21% No

My primary health insurance plan:

� Includes preferred doctors/providers

� Includes some preferred doctors/ providers

� Offers a wide array of doctors/ providers

� Has too few doctors/providers

� Doesn't include preferred doctors/ providers

What portion of the total premium for your health insurance coverage do you pay?

● Pay the entire premium

● Pay part of the premium

● Pay none of the premium

15% Yes

42% Yes, if there’s a savings to my current plan

For more information, access the 2022 NAR Health Insurance Survey at NAR.realtor

Pat Zaby, CRS, has taught for RRC since 1983 in every state in the country. He has been sharing marketing techniques for financing, investments, marketing and technology to real estate professionals of all ages.

Become a Financial Expert for Your Clients

If you have ever watched the product pitch show Shark Tank, you know that the potential investors always ask the contestants if they have a patent on their new product. They do this to learn if they will be investing in something that no one else can bring to market.

As a REALTOR®, you need to adopt a similar mindset: What can I bring to my clients that (nearly) no one else will? Financial expertise can be the skill that sets you apart from other agents in the field.

In the course Client-Centered Financing Concepts, I will show you what has become something of a lost art with many REALTORS®—a deeper understanding of financial options that benefit your clients and give you an advantage over your competitors. You will be more knowledgeable and won’t have to pass off your client to a mortgage lender to give them answers to important questions.

Here is an example of a financing option that provides a win-win for both the seller and the buyer. Let’s say you represent a seller who needs to lower their asking price to attract more buyers, but the amount the seller is willing to lower the price by (e.g., $10,000) isn’t enough to change the universe of potential buyers. You could recommend that the seller offer financing concessions that would sweeten the deal for a buyer, such as a 2-1 buydown.

In this scenario, the seller would concede the $10,000 and the buyer could use it to buydown the interest on a fixed-rate mortgage for two years. In this case, the mortgage payment for the first year is 2% less than the note rate and 1% less than the note rate for the second year, and then the third through 30th years, it’s going to be the note rate. This could mean a savings on the first-year’s mortgage payments of a few hundred dollars per month, slightly higher payments in the second year and standard payments for the remainder.

Learn the ins and outs of assuming FHA and VA mortgages

Buy-beforeyou-sell options

Low down payment mortgage options

Sources of down payments

Financing concessions to help with marketing homes

Class participants will learn to use tailored calculators that will demonstrate to your client the specific financial benefit of a particular tactic you propose.

f Assumption Comparison analyzes obtaining a new conventional mortgage at market rates compared to assuming an existing FHA or VA mortgage.

f Rent vs. Own shows the advantages of principal reduction and appreciation to estimate the real cost of housing.

f ARM Comparison compares an adjustablerate mortgage (ARM) to a fixed-rate to determine the break-even point when the ARM may be costing the buyer more than choosing a fixed-rate.

f Cost of Waiting to Buy illustrates what can happen to the payment if while

waiting for the price of the home to come down, the interest rate was to go up.

f Your Best Investment compares the future value of the down payment on a home using three possible alternatives.

f If the Rate Goes Up calculates the increased payment required that a rise in interest rate could cause.

f Isn’t It Worth It shows a buyer the monthly and daily cost of a slightly higher mortgage.

Agents need to have this kind of financial knowledge so that when a unique situation arises or the market shifts, you can shift with the market. This class offers you the kind of knowledge that will attract and best serve your clients.

HERE ARE SOME OTHER TOPICS WE WILL COVER IN THE COURSE

Financial expertise can be the skill that sets you apart from other agents in the field.”

—Pat Zaby, CRS

“Show” a person why it is cheaper to own than to rent

Adjustable-rate mortgages are the right alternative for some borrowers

Convincing the buyer to be pre-approved

Generate More Agent-to-Agent Referrals

Itry, you’ll often hear the phrase, “it’s all about who you know.” This is especially true when it comes to generating agentto-agent referrals. For many REALTORS®, networking with other agents is how they grow their leads, with referrals contributing to a large sum of their business. But how do you successfully grow your referral network and make sure you’re connecting with the right agents? Here are five ways to better brand yourself to generate referrals from your fellow REALTORS

Put the “social” in social media

One way to grow your referral network is by branding yourself and your business on social media. Make sure to leverage some, if not all, of these major platforms: Facebook, Instagram, Twitter, LinkedIn, YouTube and TikTok. Maximize your outreach with posts highlighting your field of expertise to consumers—share industry facts, statistics and trends you see in the industry and your local market.

Don’t limit your posts to just your personal profiles. Expand your social reach by joining various real

For many REALTORS ® , networking with other agents is how they grow their leads, with referrals contributing to a large sum of their business.

estate-related groups and communities on Facebook and LinkedIn. You’ll organically grow your referral network with every post shared and comment left.

Update your online profiles

Certified Residential Specialists jump at the opportunity to refer their clients to fellow CRSs.

A great tool the Council offers is Find a CRS— a mobile app and website that makes searching for a CRS referral fast and easy. But what happens when an agent visits your profile and sees it hasn’t been updated? They’ll immediately jump ship and seek another CRS with a strong online presence.

In this industry, first impressions are everything, and often the first time a client or agent comes across you is through an online search. Invest the time and resources needed to make your online presence appealing and engaging. Upload a new headshot, spice up your bio and link all your relevant profiles on your business website. These small changes have a huge impact on the way a potential referral views you.

Attend conferences and networking events

Sell-a-bration® is the Council’s largest event of the year, bringing in hundreds of REALTORS® from around the world. Many of our attendees leave with a contact book full of new referrals. Adding a conference such as Sell-a-bration to your calendar is a great way to broadcast yourself to new agents.

When you attend a conference or event, no matter the size, make sure to dedicate time to network with your fellow attendees and build new connections. Don’t skip out on a happy hour, luncheon or dinner, as that is where the important conversations are taking place. Come prepared with business cards, personalized merchandise and great talking

points that leave agents with a wonderful first impression of you. After each event, ensure you’re doing your due diligence and follow up with each new connection to stay top-of-mind. Referrals are all about relationships—if the conference takes place annually with repeat attendees, plan to attend the following year so you can build these relationships even further.

Be a specialist

Setting yourself apart from other REALTORS ® can be daunting. One helpful tip to quickly get real estate referrals is to establish yourself as a specialist. Whether obtaining designations or enrolling yourself in the Council’s various certification programs, furthering your education is a great way to gain respect from your real estate peers.

Whichever designation or certification you hold, ensure your marketing and branding convey that you are an expert in that specialty. Showcasing your accolades lets REALTORS® know you have the proper training, dedication and skill set needed to serve their clients.

Target feeder markets

According to real estate coach Tom Ferry, a great way to receive agent-to-agent referrals is with feeder market advertising. A “feeder market” is an area where people are moving to your market from or leaving your market for. This data is easily accessible on HowMoneyWalks.com or the U.S. Census Bureau’s flow mapper. With these tools, you can pinpoint the locations you’d like to target and advertise to agents, positioning yourself as the agent of choice in your marketplace. These ads can be run through Google, Facebook, YouTube and Instagram. If you want a more personal approach, consider hosting an event in those markets to connect with agents oneon-one.

Stay tuned for two upcoming courses from Frank Serio, CRS, titled Mastering Relevant, Consumer-Focused Marketing. Register today at CRS.com/ catalogsearch

“International Sell-a-bration ® ” Is Weeks Away

It’s not too late to book your flight to Spain and join other RRC members at Inmociónate—the “International Sell-a-bration®.”

Inmociónate is an event organized by RRC’s partners in Spain, UCI And SIRA, which since 2010 has been bringing together real estate professionals from all over the world. This year’s conference is June 29–30 in Granada, Spain.

The event is ideal for RRC members who want to grow their global relationships. There will be English translation and our Spanish counterparts will welcome you with open arms!

More information can be found at CRS.com/events/ Inmocionate

 Inmociónate 2023 will be held in Granada, Spain (pictured here).

July/August 2023 Issue of The Residential Specialist

We’d like to remind members and readers of The Residential Specialist that the July/August 2023 issue, also referred to as the “Green Issue,” will be PDF-only. You can expect the same great content delivered to your inbox while also available at TRSmag.com .

PRINT DIRECTORY ORDERS

Ordering for the RRC Print Directory will open this month (May) and end in mid-June.

As a CRS Designee, you receive a complimentary listing in the annual referral directory, but you can always increase your exposure by adding city listings, a photo, a QR code or a display ad. Log on to your account at CRS.com to place the order. Please take the time to update your profile and contact information to ensure accuracy.

CRS Week 2023 is on the horizon. The Council and state networks across the country are gearing up once again for a full week of promoting the value of the CRS Designation. Last year there were over 12,000 CRS Week registrations. Members and not-yet

members enjoyed numerous webinars, education discounts and local networking events. This year registrants can expect the same great opportunities and more. Continue to check CRS.com/crsweek for more details and information.

I use Referral Maker from Buffini. It’s been the best for me for over 10 years. Whichever CRM you use, make sure to master it as your main tool.

What CRM do you recommend?

Have a great story to share? Email social@crs.com or look for discussions happening online on our Facebook, Instagram, LinkedIn and Twitter pages.

I’m using Wise Agent . The plan is very cost friendly. It has excellent customer service and training opportunities along with Spanish and English newsletters and templates. Great for teams and single agents (like myself).

Michelle Soter, CRS, Century 21 Affiliated, Madison, Wisconsin

We use Realvolve . It takes some time to learn (like everything) but works well.

Gina Dumas, CRS, REMAX Results, Wayzata, Minnesota

My broker supplies me with a proprietary package combining Moxi/Outlook/ActivePipe that works with my transaction coordinator team.

Nellie Arrington, CRS, Long & Foster, Columbia, Maryland

Follow Up Boss! It’s wonderful for teams because each team member has private accounts (unless you add collaborators). Everything is tracked including emails, notes and calls, it connects to BombBomb for video and handles all the marketing. Historically I’ve been a team player (10 years), but recently went solo. I purchased a single user from Followup Boss because I love it.

Kelley Lowrimore, Atlanta Communities Real

Estate Brokerage, Marietta, Georgia

I use Realty Juggler. It is extremely budget friendly, has two-way sync and the support is incredibly helpful. It’s a simple platform, so if you want a ton of bells and whistles, it might not be the one for you.

Our brokerage offers Moxiworks , and although it isn’t perfect, it’s a powerful system and works very well for me. I train new agents in our office to use it. A CRM syncing with my Google contacts and groups is a must for me.

Kim Harwood, CRS, Harwood Real Estate, Tuscaloosa, Alabama

Stacie Duffy, CRS, Novella Real Estate, Greenwood Village, Colorado

Christine Bohn, CRS, RE/MAX Professionals, Gainesville, Florida

Checking the Right Boxes

Irecently sent a referral for my son, who is attending Washington University Law School in St. Louis, Missouri, to Liz Smith, CRS. Liz checked several boxes: a CRS agent, RPAC major investor, part of my brand, a leader in YPN and advancing in REALTOR® leadership. She was definitely the right choice. I also couldn’t be happier with the purchase that we made for my son to attend school. The property is a beautifully renovated two-bedroom condominium within walking distance of the law school, across the street from a park twice the size of Central Park in New York, with all the amenities of Central Park and more. It is also three blocks from the city’s rail mass transit—this property was probably the best location we could find at a phenomenal price, and he loves living there.

Liz and I became good friends. I spent time with her at Sell-a-bration® 2023 in Atlanta and RPAC’s President’s Circle Conference in Cancun, Mexico. We even attended the RPAC auction in St. Louis, so we developed a very close relationship

due to this transaction. I think it’s a big benefit when you’re working with a prospect that comes from the CRS real estate family versus working with a regular prospect.

Liz Smith, CRS

Bruce Ailion, CRS

Bruce Ailion, CRS, RE/MAX Town and Country, Alpharetta, Georgia

Using Online Tools for Self-care

As a busy professional in a business that requires excellent interpersonal skills, it is important for you to take a moment every now and then to catch your breath both mentally and emotionally. Fortunately, there are apps to help.

There are many mental health mobile apps, but some popular ones are geared toward mindfulness and meditation. These can help you relax and focus on personal priorities, get some relief from stress and anxiety, manage anger or improve your mood.

We’ve put together a list of apps that can help you take a moment to reset while you’re on-the-go. (Please note that most apps require subscription or service fees.)

Meditation/mindfulness apps

Headspace is consistently rated highly for its sheer variety of meditation offerings. It is good for beginners, as well as those who have been practicing for a while. Sessions are organized by themes, such as self-esteem, anxiety or grief, and advance as you grow in your practice. Users love the options that make this easy and reliable to use.

The Calm app offers guided meditation with customizable timers and options for music and ambient sounds, which may appeal to those who have an established meditation practice. The app also offers trackers to let you keep stats on the number and length of your sessions, as well as your moods.

Healthy Minds Program is a free, science-backed program from the Center for Healthy Minds at the University of Wisconsin–Madison that not only helps you with meditation and mindfulness but provides podcast-style information on how and why these practices work. First-time users complete a survey on its four concentration areas— awareness, connection, insight and purpose—then the app tracks how you improve on each over time.

Teletherapy

For those who prefer a talk therapy approach to problem-solving, a number of app- and web-based services have arisen, thanks mainly to the need for safe sessions during pandemic lockdowns. Investigate several to find your preferred interaction format, such as videoconference, live chat or messaging. Check with your insurer about coverage for session fees and be sure to note which platforms allow you to cancel the service at any time.

Amwell and BetterHelp provide access to licensed therapists who help with a wide range of personal challenges. Brightside also offers medication management, if needed.

Specific issues

You can also find online resources for help with specific issues. Some examples include:

f Monument for alcohol use treatment

f Pride Counseling for LGBTQ+ therapy

f ReGain for online couples’ therapy

Smartphonebased mental health apps represent a unique opportunity to expand the availability and quality of mental health treatment.

Helpful Tip

You can substitute almost any combination of fruits and vegetables that you like—feel free to experiment!

Don’t forget to add flavor enhancers like lime, mint, parsley, peppers, etc. Choose what flavors you like.

Sunshine in a Glass

By Nellie Lazar, CRS, Sales Agent at Century 21 M&M and Associates, Turlock, California

me, and you find yourself struggling to maintain healthy eating habits while also keeping up with the demands of work and life, you might appreciate this go-to juice recipe, which will help with your fruit and vegetable intake. I love this recipe because you can make a few batches to store in your fridge in individual bottles or cups and grab and go!

Have a recipe with a story behind it you’d like to share? Email us at social@crs.com

Because who doesn’t need a little more sunshine these days, right?

I’ve shared this recipe in the My Realtor Life Blog in the past, and it remains one of my favorite, most-used and most-shared recipes.

The new year got off to a busy start, and now here we are right smack in the middle of spring. If some of you are like

If you haven’t tried juicing before, now is as good a time to give it a go. All you need is one good recipe to get you started, and you’ll find yourself improvising in no time. You’ll become addicted to its earthy, vibrant and delicious flavor. This vegetable and fruit combination makes me feel energized and refreshed, and surprisingly full. Let me emphasize that this isn’t a meal replacement. While you can make this any time of the day, I prefer the morning. This is what I call my morning aperitif (minus the Aperol). Plus, I get to start the day with a surplus of vitamins and minerals in my tank.

The benefits of this drink include antioxidants, fiber, folate (B9), potassium, vitamins A, C, D, K and B6, copper, magnesium, potassium, iron and calcium. As with anything health-related, check with your doctor when in doubt.

Ingredients

1 large orange, peeled and quartered

2 medium apples, quartered

1 lime, peeled and halved

1 cup (or large handful) baby spinach

1 cup (or large handful) chopped kale

1-inch piece fresh ginger

6 leaves of beet greens or other green

6 parsley sprigs

6 mint leaves

Instructions

1. Juice in your extractor according to the manufacturer’s instructions. Be sure to have a vessel ready that’s large enough to accommodate the liquid (I use a 32 oz. measuring container just to be safe, and the spout allows for easy pouring into glasses).

2. Before pouring, stir the juice and add any additional nutrients like protein, collagen or turmeric, if preferred.

M akes two 8 oz. glasses or one large 16 oz. serving