The Residential Specialist, May/June 2020

residential

may + june

B US I N E S S I N TELL IGE N CE FOR THE R RC PROFE S S IONA L

2020

THE

SPECIALIST ALSO IN THIS

ISSUE

Blog like a pro Improve your community Get couples to agree

Sell more vacation homes Launch a new career path Bring out the best in others

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RIDING OUT THE

STORM Preserving your business when the going gets tough

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contents

May 20 June 20 vol. 19, no. 3

features

20

A HOME AWAY FROM HOME

The vacation home market is thriving. Here’s how CRS agents can take advantage of this niche opportunity.

By Regina Ludes

24

A NEW PATH FORWARD

Get an inside perspective on future career paths.

By Michelle Huffman

Designation Maintenance Article

28

A MIGHTY TRIO

32

LEADS ARE SEEDS

These uncommon approaches to lead generation can help you grow your business in uncertain times.

Strong leadership begins with effective coaching, delegation and feedback.

By Donna Shryer

By Matt Alderton

Designation Maintenance Article 20 20

The Residential Real Estate Council

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1

May June

contents

May 20 June 20 vol. 19, no. 3

departments

6

14

5 VANTAGE POINT

Richard Waystack, CRS

6 ENTRY POINTS

Industry Headlines, Business Technology, Ideas & Trends

18

6 SMART SOLUTIONS: If You Blog It, They Will Come

Blogging is a simple, low-cost—and even fun—way to attract clients, cement relationships and increase sales. Here’s how to blog like a pro.

By Eric Schoeniger

8

8 INSIDE TRACK: A Sense of Community Selling homes isn’t enough anymore—work to make the community a better place to live.

By Megan Craig

inside RRC

14 WINDOW OF OPPORTUNITY: Reaching an Accord How to handle couples’ disagreements over home features.

36 NEWS FROM THE COUNCIL

By Myrna Traylor

Developing a strategic plan for the evolution of RRC.

18 PEER TO PEER: Maurice Taylor, CRS Coldwell Banker RPM Group, North Little Rock, Arkansas

40 LEARN FROM THE BEST

A CRS Instructor explains how to establish and run an effective team.

42 COACHES CORNER

38 WORK + LIFE

Delivering outstanding customer service.

Stop and Smell the Roses Reap the health benefits of gardening— here are 10 tips for growing your horticultural skills.

44 RRC CONNECT 48 ASK A CRS

Advice from the country’s top agents.

38 ON L I N E R E S O UR CE S CRS.com

is your portal to news, education, referral and membership information. Read the magazine online at TRSMag.com.

TELL US WHAT YOU THINK!

Take our readership survey and share your thoughts about what you want to see in the magazine. Your feedback helps us tailor The Residential Specialist to best deliver content that REALTORS® across the country need most.

Remember, it’s your magazine and we want to best serve and celebrate our members. Complete the survey and you could win one of three $100 Amazon gift cards! Visit CRS.com/survey today to help make it possible.

E

B US I N E S S I N TE L L I GE N C E F OR TH E R R C PR OFE S S I O NA L

EDITOR Kimberly Cure kcure@crs.com 800.462.8841 CONTRIBUTING WRITERS Matt Alderton Megan Craig Michelle Huffman Regina Ludes Eric Schoeniger Donna Shryer Myrna Traylor 2020 BOARD OF DIRECTORS President Richard Waystack, CRS President-Elect Alex Milshteyn, CRS First Vice President Holli Woodward, CRS Immediate Past President Michael Burkhard, CRS Members Kim Cameron, CRS Maura Neill, CRS Dan Steward Greg Waldhour, CRS Jen Ward, CRS Chief Executive Officer Lana Vukovljak Staff Liaison Patricia Stodolny PUBLICATION MANAGEMENT www.glcdelivers.com

ADVERTISING MANAGER Chuck Gekas Director of Business Development 312.321.4443 cgekas@crs.com 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 (USPS-0021699, 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., Suite 300, Chicago, IL 60611-4092.

COPYRIGHT 2020 by the Residential Real Estate Council. All rights reserved.

Printed in U.S.A.

Publishing Manager Phil Malkinson Art Directors Ivette Cortes Eliane Mangoubi

Coming Next Issue ...

Technology can enhance open houses Learn about tech tools that can add efficiency to holding an open house and enhance the open house experience—as well as help you work with remote buyers by bringing the open house to them.

Automating essential tasks Hear how CRSs are implementing technology that can automate routine tasks to add efficiency to your business as well as expand capabilities.

Using tech to connect with clients Technology can enhance your connection with clients and enable you to stay connected to a larger number of clients.

Showcasing your property with drones Drones can showcase parts of a property that would be difficult to highlight using traditional approaches.

Whether you use video or photography, drones can help you tell the full story of a property.

PLUS:

Here’s how CRSs are presenting themselves and their businesses on social media in a way that comes across as genuine, sincere and authentic.

Would you like to be a source for a future story in The Residential Specialist? Send an email to KCure@crs.com to be added to our potential source list.

WHO ON YOUR

TEAM could benefit from receiving a personal copy of The Residential Specialist?

STAY INFORMED The Residential Real Estate Council provides superior education, exceptional networking

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opportunities and critical resources. The Council’s flagship magazine, The Residential Specialist, delivers the latest industry trends, success stories and proven strategies to grow your business.

To subscribe for yourself or a colleague, call 800.462.8841.

May June

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Note: Members of the Residential Real Estate Council receive the magazine as part of their member benefits.

[vantage point]

from the desk of Richard Waystack, CRS 2020 RRC President

MISSION possible 

We’ve all been on a remarkable roller coaster ride these past few months. To help our members navigate uncharted professional challenges, the Council—from top to bottom and side-to-side—is adopting a proactive rather than reactive approach. Our mission is to focus on initiatives that could reassure our members, provide a source of strength and go a long way to helping our organization stay in front of developing concerns.

Yes, we’re harnessing the resources of the Council to ensure we can serve and assist our members during this unprecedented time in history.

The Council strongly believes that with greater business agility comes a greater ability to rapidly respond to any “new normal” circumstances and quickly initiate strategies that can preserve—and likely strengthen—our position as the industry’s premiere education provider and business development organization. Simultaneously, we are ready to help our members continue to forge stronger relationships through education, networking and professional growth.

The Council’s recent discussions concerning our own business agility—discussions held both before and during our recent unexpected journey—brought insightful points to light. For example, we know that RRC continues to be recognized as the premiere education provider in real estate. However, are we proactively adapting the way we deliver education to reflect what real estate professionals want? Are they looking for in-person delivery or online platforms?

Here’s another question that came up as we traversed these last few months. Should we look at education through a less formal lens? We saw an impromptu approach to education work so well

by We Are CRS, the Residential Real Estate Council’s official Facebook group for CRS candidates and designees. As a “new normal” transformed our industry, this group’s ability to nimbly respond to immediate needs was inspiring. There were Facebook Live Q&A sessions hosted by veteran CRS members and Certified CRS Instructors. Our community also shared links to informative podcasts that served up need-to-know information on timely topics.

In addition to education, the Council is also investing time and energy in identifying ways to proactively reinforce our CRS Designation as the premier credential in our industry. To do this, we need to create an organization that can take appropriate action before any need occurs. With that level of agility, we can do more than protect the CRS Designation’s value—we can strengthen it and bring even greater benefits to our members.

We haven’t answered every question yet. And we’re not rushing into any initiatives. Is it appropriate to slow down implementation and give careful consideration to what our top priorities should be? I think it’s absolutely appropriate! We need to feel confident that initiatives are in the best interest of our organization and truly reflect our members’ needs. As leaders, we have to look at how every initiative affects the health of our organization today and all members in the years to come.

WE’RE HARNESSING THE RESOURCES OF THE COUNCIL TO ENSURE WE CAN SERVE AND ASSIST OUR MEMBERS DURING THIS UNPRECEDENTED TIME IN HISTORY.

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[entry points] + industry headlines + business technology + ideas & trends

IF YOU BLOG IT,

they will come

By Eric Schoeniger

Smart

Solutions streamlining your business through technology

May June

6



The internet is home to 500 million blogs, says the Hosting Tribunal. Is it worth your time to create one more?

Absolutely, if you want an effective way to build relationships with clients old and new.

“I average about 50% of my income from closed sales where the client found me from my blogs,” reports Mary Pope-Handy, CRS, a REALTOR® with Sereno Group in Los Gatos, California.

“When people read my blogs and like the content,” she says, “by the time they reach out to me, they already feel like they know me.” PopeHandy’s blog sites are liveinlosgatosblog.com and sanjoserealestatelosgatoshomes.com.

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Blogging lets you demonstrate your expertise.

It can help you appear higher in online search results. Ultimately, it can help you make more sales.

5 steps to crushing the blogosphere

But success won’t come overnight. “Prepare yourself for the long haul,” writes Rob Powell, a successful blogger who provides top tips from 19 blogging experts at robpowellbizblog. com/19-experts-top-tips-first-year-bloggers.

“One of the most important tips for first-year bloggers is ‘stay the course.’”

To maximize your time investment, follow these steps: 1. Know your audience. Begin with your target readers. What kinds of clients do you want to attract? Which trends are affecting them now? Which topics will be most useful to them in your market?

Then think about how overtly you’ll promote your business. “I do not list properties in my blogs,” says Al Cannistra, CRS, a REALTOR®

iStock.com: ra2studio/M-Vector

Blogging is a simple, low-cost—and even fun—way to attract clients, cement relationships and increase sales. Here’s how to blog like a pro.

with Texas Premier Realty in San Antonio, Texas—and an avid blogger. “My blogs are for connecting with my audience. When it comes time for them to buy or sell a house, they’ll know who I am.”

2. Grab the spotlight. Research suggests you have 15 seconds to hook your reader, who will then stay with you for less than seven minutes. So you need to capture and keep their attention. Start with a title that promises useful information: “6 Upgrades That Will Help Sell Your Home Fast.” Then, use an attention-getting opener: “What’s the one big mistake every homeowner makes when renovating their home?”

3. Hit your target. You’re a real estate expert. But you don’t need to cram everything you know into a single post. Instead, focus each post on a single topic. That will help keep your article to a digestible length, which is about 400 to 800 words.

4. Invest for success. “Plan to spend an hour a day on your blog,” Pope-Handy advises. “People ask me, ‘How do you find the time to blog?’ And I ask them, ‘How do you find the time to do an open house? How do you find the time to call your database?’”

Blogging expert Powell recommends writing every day, even if it’s just jotting down notes for a future blog. “Writing is a muscle,” he suggests.

“The more you use it, the better you’ll get.”

WANT TO GET YOUR VLOG ON? Video blogging, or vlogging, takes blogging to the next level. Vlogging is more than just adding a video to a text post. With vlogging, you video-record yourself delivering the expert information that you’d otherwise provide in written form.

Vlogging is a personal, engaging way of communicating with your audience. Most smartphones have video-recording capability, and several vlogging-optimized cameras are available for under $100.

blog ideas

Effective blogs address relevant topics. Start with questions you’ve been asked by multiple clients: 1 What’s the market like today?

2 What are some neighborhood

amenities?

3 Why don’t some homes seem to sell?

4 What are the different architectural styles?

5 Which home repairs deliver

the best return on investment?

6 What happens if I receive

multiple offers?

7 Who pays for my inspections?

8 What’s a Section 1 pest

5. Rinse and repeat. If you post a few blogs and then lose steam, you can’t expect a lot of results. And even if you post regularly, the information in your blog can grow stale fast. So you need to post and update frequently.

Cannistra aims to post at least weekly. PopeHandy posts or updates daily. “I’ve posted more than 2,000 articles, so at this point, 90% of my efforts are updating existing posts,” she says.

clearance?

BY THE NUMBER S “I average about

50% of my income from closed sales where the client found me from my blogs.”

—Mary Pope-Handy, CRS

Supercharging SEO

Buyers and sellers often find an agent through a web search. So a top reason to blog is for search-engine optimization, or SEO. SEO is complex, but simple actions can help.

First, think about the topics your clients are likely to search for, and work those keywords into your post. Just don’t “stuff” your article with keywords, or Google’s algorithm will send your results to the bottom.

Finally, cross-post on social media. Cannistra automates social-media posts with RecurPost, which offers a free option.

Blogs are a great way to connect with and influence prospects and clients. And they have the potential to lead to sales. Cannistra’s advice? “Don’t be afraid to begin. And don’t give up. If you stick with it, blogging will benefit your business.”

Eric Schoeniger is a writer based in Doylestown, Pennsylvania.

For blogging and other digital marketing tips check out “Keep it Simple with Low-Cost Online Marketing” at CRS.com/learn.

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[entry points]

A SENSE OF

community

Selling homes isn’t enough anymore—work to make the community a better place to live

By Megan Craig

Inside Track

May June

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According to the National Association of REALTORS® 2019 Profile of Home Buyers and Sellers, 41% of buyers and 66% of sellers found an agent through referral from a friend, relative or neighbor.

To make your mark, don’t just be a REALTOR®—be a community resource.

Be useful to everyone—not just your clients

Technology is making it easier than ever to reach people.

Brian Ladd, CRS, principal broker at Cascade Sotheby’s International Realty in Bend, Oregon, is using his tech skills to create a podcast series meant to help as many people as possible in his community. “People are being bombarded with ads from all directions, so we have to change how we communicate with our communities,” Ladd says. “But if I can provide them with information that’s valuable, I can begin the conversation.”

During his podcast, Ladd isn’t trying to get a client’s listing. He’s actively helping to inform the entire community of what’s happening, both in real estate and around town.

He hosts government leaders (for example, the head of the Economic Development Council), business leaders (recently,

iStock.com: Rawpixel/fstop123/iunewind



Children in the neighborhood may not know her by name, but they know exactly who Judy McDougal is. “That’s where the mayor lives,” they tell newcomers what’s trending in real estate as they walk past her house.

But she’s not really the mayor.

McDougal, CRS, an associate broker with RE/MAX Savannah in Georgia, sells homes in the gated Dutch Island community where she lives. But like many REALTORS® trying to separate themselves from the pack, McDougal doesn’t just sell homes—she’s heavily involved in the community. “I moved into this community and realized it was sort of disconnected. There was no getting the neighborhood together in any way,” McDougal says.

She started small, creating a neighborhood Easter egg hunt. Eventually, she added an old-fashioned Fourth of July parade, a crabbing tournament and a couple of other small events. People began recognizing her for her work in the community, and 25 years later, she’s still gaining new business for her efforts. “It’s such a simple thing that ended up being really good for my business,” McDougal says. “I didn’t ever promote my business, but over time, people realized I was in charge of these activities that were bringing the community together. That’s how I became the community expert. That’s how I became ‘the mayor.’”

the biggest land developer in town and the editor of the local newspaper) and nonprofit leaders (like the head of an area homeless shelter). He focuses all his conversations on how these organizations are helping to shape the town, always through a real estate perspective. “Those interviews have really solidified me as an expert because of who I’m talking with,” Ladd says. “I’m talking to the people who have effected change in this town.”

Help local businesses to help the community

Nicole Mangina, Nicole Mangina, CRS, an agent with CRS, (left) started Windermere Real Estate in Bellevue, a radio show—The Washington, had the same idea when she 425 Show—with started a radio show in her town. She’s guests from local used the show to advance her credential small businesses. as the community expert simply by inviting people from all over the area to be guests. “My passion is supporting small businesses, and you can talk to anyone about what they do and why they love it,” Mangina says. “The whole point of the show is that it’s about the people, places and businesses that make this a great place to live.”

Everyone has a story—you just have to ask for it, she says.

Having other community business experts on her radio show has been a great way to learn while also sharing information with her neighbors. She asks guests, “What’s the one thing you want the world to know about?” and makes sure to cover that topic during their time on the show.

Mangina’s show is 30 minutes long, and she prefers to make the content as conversational as possible. Rather than spending a lot of time preparing, she comes on the air with genuine curiosity about her guests and their impact on the community.

Although he takes a different approach, Waylon Chavez, CRS, an agent with ABQ Premiere Properties in Albuquerque, New Mexico, believes community involvement is key for any REALTOR®. He calls himself a “community ambassador.” “So many people are just about the sale, but if you live and work in the same community, you want to build it up,” Chavez says. continued on page 10 

INDOOR POLLUTANTS

ASBESTOS: SHOULD YOUR CLIENTS WORRY? Many homeowners are concerned about the possibility of asbestos in the home and the health hazards associated with it. And that’s with good reason—breathing asbestos fibers over a long period of time can lead to asbestosis, lung cancer and mesothelioma.

For years, asbestos was widely used in various materials such as wall and ceiling insulation, vinyl flooring, insulation for heating ducts, pipe wrap for water heating systems, roof tiles, acoustic ceiling tiles and much more. While the use of asbestos in these products has been dramatically reduced, these materials are still present in thousands of homes, especially those built before 1980. If asbestos is suspected, homeowners will need to contact a qualified expert to sample and confirm its presence and condition. A visual assessment, such as during a home inspection, cannot determine whether a given material contains asbestos.

Is it always a problem? It’s important to know that asbestos poses a health risk when the fibers become airborne, which can occur if materials are crumbling or damaged. If there is minor localized damage, it can be professionally repaired by encapsulating the asbestos fibers with a specialized sealant. If the asbestos-containing materials are in good condition, the best course of action may be to leave them alone. Newer materials containing asbestos are designed to encapsulate the fibers, preventing them from being released into the environment.

The biggest risk is for homeowners or other non-professionals to attempt asbestos removal themselves. Disturbing asbestos usually makes it dangerous; if it must be removed, it’s a job for an expert who has the proper training, equipment and disposal mechanisms. In some cases, such as during a home renovation where demolition is part of the project, asbestos removal is the only option.

This article was provided by Pillar To Post Home Inspectors. For more information, go to pillartopost.com.

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[entry points]

A SENSE OF

“SO MANY PEOPLE ARE JUST ABOUT THE SALE, BUT IF YOU LIVE AND WORK IN THE SAME COMMUNITY, YOU WANT TO BUILD IT UP.”

community



continued from page 9

“You have to give to the community, instead of just taking from it.”

He’s worked as the head of his homeowner’s association, created a private Facebook group for his area, started a podcast and even ran for state representative once. But most important, he said, is giving a platform to small businesses in the community: “By doing that, you create a stronger community and a stronger economy in the community.”

Help the community to help yourself

Being a community asset is about more than self-promotion. But that doesn’t mean community members won’t recognize your hard work and reward you with business.

When Dave Robison, CRS, an agent with goBE Realty in South Jordan, Utah, joined a — Waylon Chavez, CRS local programs committee, he expected to help set up Movies in the Park and plan neighborhood dances. Even though he wasn’t getting a lot of name exposure through this work, he was able to meet people while showing them he cared about making the community better.

“People will basically call you up and say, ‘Hey, I know you’re the local expert, so I want you to sell my house,’” Robison says. “Lots of people have real estate licenses, but they want someone who really knows the neighborhood.”

Ladd sees his focus on informing the community as part of a long-term brand strategy. He doesn’t expect to see a financial benefit from his work right away, but he’s already solidified his spot as his community’s real estate expert.

A community leader who heads several businesses and community boards decided to list with him after appearing as a guest on his podcast.

“When someone who knows everyone in town lists his home with you, that’s going to have a multiplying effect. But that’s not even the play I’m going for,” Ladd says. “Clients always know me now, so I don’t have to justify my position as the person with knowledge—I don’t have to prove my worth. It definitely accelerates your ability to convert clients.”

Megan Craig is a freelance writer based in Syracuse, New York.

Getting involved in your local RRC is a great way to be exposed to your communities and get ideas. Visit crs.com/connect/volunteeropportunities for more information.

Anna May, CRS, donates to an animal shelter when a seller’s property closes and offers a free pet adoption after a home purchase.

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So, you’ve earned someone’s business by positioning yourself as a community expert. Don’t let your promotion of the community stop there! Be prepared to give detailed information about the area to anyone looking for a home. “We fully recognize that a house

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is not just a house. They’re buying the community, not just the property,” says Anna May, CRS, a broker with Realty World Neighbors in Hayward, California.

In addition to having held elected office and continuing to host community events that highlight local

businesses, May’s group brings attention to the community with every listing.

At open houses, potential buyers will find brochures for local parks, booklets for local art installations, information on community college offerings and postcards for upcoming events in the area.

She also donates money to a local animal shelter whenever a seller’s property closes and offers a free pet adoption after the purchase of every home. “It’s a way of doing business—just genuinely living and breathing your community,” May says. “It’s at the core of everything we do.”

iStock.com: porcorex/filo

TALK UP THE TOWN

HIGH MARK

A GREAT YEAR FOR SELLERS With average profits for home sales reaching a 13-year high of $65,500 in 2019, it was a great year for sellers, according to the 2019 U.S. Home Sales report by ATTOM Data Solutions.

Compiled from data of recorded sales deeds across the country, the report compared the purchase price of homes with what they ended up selling for. Results showed that median home sales prices reached $258,000 in 2019, which in turn gave sellers an impressive 34% return.

There are a few market factors that contributed to this high ROI in 2019, according to Todd Teta, chief product officer, ATTOM Data Solutions: Increased wages across the country ÄÄ A ÄÄ strong national economy Continuous stock market gains ÄÄ Historically low mortgage interest rates ÄÄ

BY THE NUMBER S The annual homeprice appreciation in 2019 topped the

4.5 %

The cities with the highest home sale ROIs were all on the West Coast, as the demand for housing in tech-central hubs increased: San Jose, CA (82.8%) ÄÄ San Francisco (72.8%) ÄÄ Seattle (65.6%) ÄÄ Merced, CA (63.2%) ÄÄ Salem, OR (62.1%) ÄÄ

rise in 2018 compared to 2017, but was down from the

7.1 %

increase in 2017 compared to 2016.

“The nation’s housing boom kept roaring along in 2019 as prices hit a new record, returning ever-higher profits to home sellers and posing ever-greater challenges for buyers seeking bargains. In short, it was a great year to be a seller,” Teta said. “But there were signs that the market was losing some steam last year, as profits and profit margins increased at the slowest pace since 2011.”

Historical U.S. home seller gains and ROI — Percent Gain

■■ Dollar Gains

80,000 70,000 $ 60,000 $ 50,000 $ 40,000 $ 30,000 $ 20,000 $ 10,000 0 $ (10,000) $ (20,000) $ (30,000) $ (40,000) $ (50,000) $ (60,000) $ $

$

67,000

$

50.0%

67,062 $

42.7%

44.7%

$

48,500

50,027

$

$

29.1%

$

26,750

$

$

$

2005

2006

2007

(10,000)

$

2008

2009

2010

2011

(20,000)

2012

2013

13,950

65,500 34.0

%

31.4%

38,100

27.4%

15.0%

2015

10.0% 2016

2017

2018

2019

-1.1% -5.0%

(37,523)

$

(41,500)

$

$

$

-20.3%

(30,000)

0.0% -10.0%

(45,000)

-20.0%

-15.8%

-19.0%

30.0% 20.0%

21.3%

7.9%

2014

40.0%

58,100

-23.1

%

Source: ATTOM Data Solutions

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-30.0%

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[entry points]

1

5

FLOCKING BEHAVIOR

METRO DEMOS

Homeowner demographics vary across the country’s largest metro areas. Younger and older generations tend to buy homes in different parts of the United States. While cities like Denver and Austin, Texas, attract a younger crowd, states like Florida and Arizona are top retirement spots for those 65+.

LendingTree conducted a study, using U.S. Census data, to determine the average homeowner ages in the country’s 50 most populous metropolitan areas. Some key findings from their research: The average homeowner age across the 50 largest metro areas is ÄÄ 55 years old.

The two areas that have the oldest average age of homeowners are ÄÄ Miami and Tampa, approaching 60 years old.

The metros with the youngest average homeowners are more spread ÄÄ out across the country, with an average age closer to 53 years old.

As homeowners get older, home prices and incomes grow more slowly. ÄÄ

UT

CA

CO

4 3

Let’s take a closer look at the top 5 youngest and oldest average homeowner metros:

Youngest ➊ Salt Lake City Average homeowner age: 51.8 ÄÄ Median home value: $304,500 ÄÄ Median home-price growth ÄÄ

(2009–2018): 45.3 % Wage growth (2009–2018): 9.8 % ÄÄ

➋ Austin, Texas Average homeowner age: 52.4 ÄÄ Median home value: $329,200 ÄÄ Median home-price growth ÄÄ

➌ Raleigh, North Carolina Average homeowner age: 52.5 ÄÄ Median home value: $420,600 ÄÄ Median home-price growth ÄÄ

(2009–2018): 75.0 % Wage growth (2009–2018): 33.2 % ÄÄ

(2009–2018): 40.7 % Wage growth (2009–2018): 28.1 % ÄÄ

➋ Tampa, Florida Average homeowner age: 58.3 ÄÄ Median home value: $210,000 ÄÄ Median home-price growth ÄÄ

➌ San Diego Average homeowner age: 57.1 ÄÄ Median home value: $247,800 ÄÄ Median home-price growth ÄÄ

Oldest ➊ Miami Average homeowner age: 58.7 ÄÄ Median home value: $298,800 ÄÄ Median home-price growth ÄÄ

(2009–2018): 9.9 % Wage growth (2009–2018): 6.0 % ÄÄ

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(2009–2018): 13.1 % Wage growth (2009–2018): 7.4 % ÄÄ

(2009–2018): 17.4 % Wage growth (2009–2018): 7.2 % ÄÄ

GADGET INSPECTOR 4

MN NY 5

NY Prepare for a toasty night in with the FLIKR Fire portable concrete fireplace. This stylish fireplace runs on rubbing alcohol, providing a cheap and safe way to enjoy the warmth and wonder of a burning flame indoors.

Bigger and more prominent than your decorative candles, and more mobile than a traditional fireplace, set it in a well-ventilated area to impress dinner guests or make s’mores with your kids.

NC 3

TX FL

Price: $95.00 | flikrfireplace.com

2 2

➍ Minneapolis Average homeowner age: 53.1 ÄÄ Median home value: $397,500 ÄÄ Median home-price growth ÄÄ

1

➎ Denver Average homeowner age: 53.2 ÄÄ Median home value: $238,800 ÄÄ Median home-price growth ÄÄ

(2009–2018): 12.6 % Wage growth (2009–2018): 7.4 % ÄÄ

(2009–2018): 71.7 % Wage growth (2009–2018): 17.9 % ÄÄ

➍ Los Angeles Average homeowner age: 57.1 ÄÄ Median home value: $254,700 ÄÄ Median home-price growth ÄÄ

➎ New York Average homeowner age: 56.9 ÄÄ Median home value: $288,700 ÄÄ Median home-price growth ÄÄ

(2009–2018): 17.2 % Wage growth (2009–2018): 2.7 % ÄÄ

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(2009–2018): 2.1 % Wage growth (2009–2018): 6.8 % ÄÄ

Price: $89.99 | verdmo.com

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[entry points]

REACHING How to handle couples’ disagreements over home features

By Myrna Traylor



The challenges REALTORS® face when working with couples are legion, but perhaps one of ofOpportunity the most frustrating comes when partners can’t agree on which home strategies to grow your business features are the most critical to their happiness, and that disagreement hampers the homebuying process.

According to a Porch.com survey that was reported by REALTOR® Magazine, there are some features that tend to divide couples, the top three being wood-burning fireplaces, in-ground pools and hardwood flooring. But the “what” may not be quite as important as the “how”—how an agent will get a couple to resolve their differences and agree on a home.

Window

Start with the list

Agents agree that if they haven’t done so before coming to you, each partner should draft their list of must-haves before they start looking at specific properties. Narrowing that list down to five (or even

1 Wood-burning fireplace 2 In-ground pool 3 Hardwood flooring 4 Outdoor bar or barbecue area 5 Finished garage Source: Porch

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TOP 5 FEATURES COUPLES DISAGREE ON

an accord

BY THE NUMBER S

better—three) “non-negotiables” will set out the parameters for the search. If those items are wildly divergent, it might help to probe a little and set the stage for flexibility. Mary Lane Sloan, CRS, of The ART of Real Estate in Columbia, South Carolina, makes a point of telling firsttime buyers especially, that some of the must-haves might change as they go through the selection process.

“I like to teach them through stories,” says Sloan. “For example, I tell them how one couple told me, ‘Don’t show me anything that doesn’t have a garage,’ and they fell in love with a house that didn’t have a garage. I tell buyers, ‘Don’t box yourself in,’ and establish early in the process that it’s okay to look outside of that list.”

Kari Myhre, CRS, with Park Co. REALTORS® in Fargo, North Dakota, has a similar approach.

“First-timers tend to be unrealistic. I tell them

49

%

of people who house-hunted with a partner said it strained their relationship.

continued on page 16 

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[entry points]

REACHING 

PENT-UP DEMAND

HOMEOWNERSHIP TRENDS Despite median home prices rising for the last eight years, 84% of adults say that owning a home is a “priority”—up 9% from 2019—according to Nerdwallet’s 2020 Home Buyer Report released in February.

When broken down by generation, the results from the 2,000-respondent survey are encouraging for the housing market. Of all generations, millennials were the most enthusiastic about the prospects of purchasing and owning a home. A breakdown of the findings: Those who consider buying a home to be one of their main goals:

Those who want to become homeowners within the next five years:

Millennials

88 %

Millennials

53 %

Gen-X

85

%

Gen-X

42 %

Gen-Z

84 %

Gen-Z

57 %

Baby Boomers

79 %

Baby Boomers

23 %

an accord

continued from page 15

it will be difficult to get everything on their list, but that they might be surprised and ultimately buy something they weren’t looking for.”

Christi Mossburg, CRS, of RE/MAX by the Bay in Fairhope, Alabama, also takes a practical approach to using the list. “As you’re out looking at homes, you can see how strongly they feel about their favorite features. If you know their top three musthaves, you’ve got to give each person one of their top non-negotiables.”

To make matters more complicated, sometimes a couple feels pressure coming from outside of the relationship. “A lot of people— parents, friends and you as their agent—are telling them what they need to do,” says Sloan. “That pressure can make people edgy.”

Myhre says that it’s better to find out if parents are having a big influence over the decision-making process. “I joke with them and ask them if mom has the down payment.

That gives them permission to disagree with the ‘advice.’”

The second (or third) time around

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“There is colossal pent-up demand for homeownership, both among young people who are ready to pair up and start families, and those who see owning a home as the next step in adulthood,” said NerdWallet home and mortgage expert Holden Lewis in a prepared statement.

The survey also polled the remaining 16% of respondents who said owning a home is not a priority. Insufficient income (42%) and inability to save for a down payment (37%) were the most common responses.

But according to Lewis, real estate professionals have a unique opportunity to help those interested in homeownership and to assist in navigating the market. “These folks feel optimistic but are aware that there’s a lot they don’t know,” he said. “They’re looking for guidance so they can feel confident about finding a good home they can afford, and qualifying for a mortgage.”

Agents report that firsttime buyers aren’t the only 1 2 3 ones who bicker. Coping with couples moving into a second or third home can be difficult, says Myhre, “because they don’t have to move.

They can be pickier.”

Sloan uses an analogy to describe how she approaches repeat buyers: “I always equate it to making waffles: The first one never turns out as well as the fourth or fifth one, but you wouldn’t have that knowledge if you hadn’t made the first one. So your first house is a learning experience—buying it and living in it, so you know what you’d like to have in the next house.”

“It’s our job to home in on what’s most important to them,” says Mossburg. “I use a pre-interview to understand what they like or don’t like about their current house. I listen and get a feel for what’s important for dayto-day living in a home.”

Tactics for diffusing tension

So, what can agents do when things get heated or the parties are not budging on what they want?

“I find that when people are disagreeing or having a hard time compromising, I have them make a ‘con-con’ list, because pros always look better than cons,” explains Sloan.

“I have them sit down and make a list, together or separately, to tell me the cons of buying this house and the cons of NOT buying this house. It helps them to look at their pain threshold so they can say, ‘Yeah, this house doesn’t have a garage, but it has everything else we want. And nothing else like this has come on the market in the last six months in our price range—so, the con of NOT buying the house is that we’d have to live with our parents for six more months.’”

That can help crystallize issues for buyers.

“When I look at their con-con list, I can see what makes them most uncomfortable, then I can help guide them to overcome those objections,” Sloan says.

Agents also agree that patience and humor go a long way to keeping warring parties on target. “You have to wear many hats—psychologist, negotiator—and stay calm when a couple has high stress. I do better with humor to loosen up people,” says Mossburg.

“I feel I’m like a bartender,” says Myhre, “trying to keep things light. Sometimes it’s best to be a listener rather than a talker.”

“Not too many couples get into fights or screaming matches—although that does happen once in a while,” reports Sloan.

“But a big part of my job is keeping people focused and calm. I tell stories and jokes to try to keep it light when I see people getting flustered or tense with each other. I have a Pinterest page of crazy things I’ve seen in houses since I’ve been selling [since 2007], so I divert them with, ‘Oh my gosh, let me show you what I saw the other day … ’ I just redirect—which works with kids.” Sloan would know; she’s a former public school teacher. “Yeah, I tell people all the time that I teach big kids about buying houses.”

TOP 5 FEATURES COUPLES AGREE ON 1 2 3 4 5

Energy-efficient appliances Newly renovated bedrooms Newly renovated bathrooms Installed security system Finished basement Source: Porch

“IF YOU KNOW THEIR TOP THREE MUST-HAVES, YOU’VE GOT TO GIVE EACH PERSON ONE OF THEIR TOP NONNEGOTIABLES.” — Christi Mossburg, CRS

The webinar “Home Tips for First-Time Homebuyers” will help you learn how to be a better trusted advisor to clients and guide them through the process. Visit CRS.com/learn for information about RRC webinars.

Myrna Traylor is a writer in the Chicago area.

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[entry points]

Coldwell Banker RPM Group, North Little Rock, Arkansas

Peer to Peer profiles of people to watch

How did you become involved with the Residential Real Estate Council?

I had always wanted to get that CRS Designation, and then a class on listing strategies taught by Rich Sands was being held in Arkansas.

I registered for the class, and I was completely in awe of the instructor and how amazing the class was. I thought, if this is the kind of individual they have representing RRC, and this is the caliber of education they are providing, I have to be a part of this.

Do you stay active with the RRC chapters and activities?

Yes. I am the education director for the state and was chapter president for the last two years. I have been invited to be a co-chair of the CRS Education Masterminds. One thing that drives me is that I love learning, and the power of education is invaluable.

RRC delivers a caliber of education that is second to none. And I like to have a seat at the table to know what is going on and when, so it pays to stay involved. I also teach real estate classes, so the more I learn, the better I am able to teach my students.

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What are the things that make your area interesting to homebuyers?

Since Little Rock is the state capital, a lot of what happens there is reflected in North Little Rock. On this side of the river, we are up and coming; we’ve been putting a lot of effort into catching the vibe of what is happening in Little Rock’s River Market district. You can walk across the pedestrian bridge from Little Rock to North Little Rock and get similar kinds of restaurants and entertainment. We also have the sports venues in North Little Rock, and people can travel from one municipality to the other in about 10 minutes.

What are the unique aspects of buying or selling in North Little Rock?

There are some nice apartments downtown, but as people’s families get larger, they don’t want to stay in oneor two-bedroom places. We are making a concerted effort to build more [single-family] housing in downtown North Little Rock.

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One thing What is it about the that drives real estate business me is that I that gets you up in love learning, the morning?

For anything I do—being and the a real estate broker and power of instructor, or being a city councilman—I like to look education is at something that’s raw and invaluable. build it and form it into a RRC delivers complete vision. So when a buyer starts looking at homes, a caliber we sit down and have a stratof education egy session to discover the area and amenities they want that is and so forth, and we develop second to a game plan. I do the same for sellers—to understand none.

What is interesting or challenging about the market?

North Little Rock is landlocked with the Arkansas River to the south and two other cities to the north, so the only direction we can expand is east. Right now, though, there is very little retail there—and the reason retail isn’t there is because there are too few rooftops to support it. The homeowners are begging for more retail.

More homes are going up and we are improving the roads so when we get enough houses to support more retail, we’ll be ready. I also serve as a city councilman, so I have my finger on the pulse of the city’s economic development.

their goals and how we can get there so they’re happy, the buyer is happy and I’m happy.

Then everybody walks away from the closing table with their goals achieved. I’m big on setting measurable goals and moving forward.

How do you educate buyers about the North Little Rock market?

Our market is diverse: We have million-dollar properties all the way down to $30,000–$40,000 flips. I have to find out exactly what they’re looking for. If you’re market-savvy, you can figure out just from the conversation what they can buy and then lay out options for them.

What do you do in your free time?

I love, love, love books. I recently read “The Compound Effect” by Darren Hardy, and it was an absolute game changer for me. I wish I had read this 20 years ago.

It’s all about making small changes and being consistent with them, and how that will change your life. I quit sugar in October, and I’ve lost 25 pounds [by the end of January]. The other book I read recently is “Relentless”

by Tim Grover, who trained Kobe Bryant, Michael Jordan and Dwayne Wade, and he talks about their mentality and what they were willing to do to stay on top of their game and their business. I loved it because I share that relentless work ethic, which I got from my father. You might be smarter than me, or faster or stronger, but you will not out-work me.

Maurice Taylor, CRS, achieved CRS Designation in 2014. He can be reached at mrtaylor63@ gmail.com or 501-690-6444.

Photo: Karen E. Segrave

MAURICE TAYLOR, CRS

Maurice Taylor is a passionate reader with a relentless work ethic who believes in the power of education. Based in North Little Rock, Arkansas, he serves as a city councilman and enjoys strategizing with buyers and sellers to help them achieve their goals.

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niche tk

[feature]

The vacation home market is thriving.

Here’s how CRS agents can take advantage of this niche opportunity.

By Regina Ludes



Arlene Kelly, CRS, jumped into the Hawaii vacation home market 16 years ago with both feet planted firmly in the sand. After Kelly and her husband bought their own vacation rentals in Hawaii in 2002 and 2003, they decided to move from Philadelphia to Oahu the following year. Since both are REALTORS®, they studied the local real estate market and then launched Ola Properties in Kapolei, Hawaii.

Today, Kelly estimates that at least 90% of her business is working in the resort and vacation rental market. “The weather here is beautiful all year round, and buyers like the walkability of the area and being close to the beach,” she says.

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[feature]

perfect niche

TOP 5 U.S. VACATION HOME DESTINATIONS

Here are counties where the housing for seasonal, recreational or occasional use made up 20% or more of the county’s total housing stock.

States & Counties New Jersey Massachusetts

Cape May

Duke & Nantucket % of county with vacation homes

According to the National Association of REALTORS®, an estimated 5.34 million existing homes were sold in 2019, of which 5% (or 267,000) were purchased as vacation homes. Further, increased financial wealth and low mortgage rates have boosted the demand for vacation homes, while low inventory in many markets has caused sales to stall.

To be successful in the hot vacation housing market, REALTORS® must first educate themselves about vacation properties because they are unlike traditional homes. In addition to studying local market statistics, pricing and inventory, agents should be familiar with state regulations, pertinent tax laws and licensing requirements. Private communities may have their own rules about rentals, common area usage and visitors. Most importantly, agents need to exercise patience because vacation buyers have specific housing preferences and take their time browsing listings and making decisions. Once agents master these skills, they can become the local vacation home market expert who clients trust with their investment.

Become a local expert

Before working with vacation properties, Michelle Cecchini, CRS, broker in Ormond Beach, Florida, north of Daytona, wanted to learn everything she could about this niche. So she signed up for every workshop she could find and earned an additional accreditation that gave her access to a network of vacation home professionals in other markets to keep up with the latest trends.

Becoming familiar with state and local real estate laws, especially as they pertain to vacation rentals, is important, she adds. “You don’t want to sell someone a home that they want to rent out but legally can’t,” Cecchini says. For example, in Ormond Beach, only six-month rentals are allowed, and vacation rentals are not allowed at all, while in the

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56 %

51 %

neighboring town of Ormond by the Sea, one-month rentals are permitted.

Meanwhile, in Hawaii, each resort community has its rules.

For example, at the Ko Olina Resort on Oahu, Kelly says legal weekly rentals are permitted at one of the resort-zoned properties as well as monthly residential vacation rentals.

Most of Kelly’s clients are pre-retirement baby boomers, retirees, military families, investors and snowbirds who come to enjoy the sunshine, sand and surf. “Many families want to own a vacation home here that they can use and also rent out when they’re not using it,” Kelly says.

Understand the buyer’s needs

Vacation homebuyers are a different breed than those shopping for a primary residence. For one, they are notoriously slow in choosing a vacation property, so agents need to exercise patience. “Because they’re shopping for a vacation home, buyers can take their time to browse listings. There are no time constraints because of job changes or kids going to school,” says Geordie Romer, CRS, broker with Windermere Real Estate in Leavenworth, Washington, a Bavarian-themed mountain town located three hours from Seattle.

Vacation buyers he works with tend to be financially well-qualified to purchase a second home but are conservative in their approach. In many instances, a pre-qualifying letter is not as critical to the transaction as it is for primary homebuyers. “Many buyers in my market have money to spend for a second home but are unwilling to spend it. It’s common that they wind up spending an extra $100,000 they did not originally budget for,” Romer says.

Laura Durham, CRS, a broker with Mill Pond Realty in Saugatuck, Michigan, says vacation homebuyers are not alike and each one has different needs. One buyer with a demanding job in a large bustling city may look for a private getaway, while another seeks a large home for their family with

perfect niche

Grand, Summit, Eagle, Jackson & Pitkin

Colorado

Vilas, Lincoln, Langlade, Forest & Oneida

Roscommon, Ogemaw, Gladwin, Iosco & Arenac

[feature]

Source: National Association of REALTORS®; calculations are based on Black Knight Property Records data and U.S. Census data from 2013-2017 American Community Survey

Wisconsin Michigan

51 %

42 %

43%

outdoor space and easy access to downtown where there are important, so be sure to include plenty of quality photos for restaurants and shopping. Agents need to take time to learn your listings. their buyers’ specific housing needs. As for home amenities, Another consideration is whether to get involved in manDurham says: “Buyers want to bring the outdoors in, so they aging and renting vacation properties when owners are not want screened-in porches, hot tubs and open patios with a using them. Both Durham and Kelly have entire departments fire pit. They want amenities that make them feel they are dedicated to property management, while Romer focuses truly on vacation.” solely on vacation home sales. Cecchini used to handle Durham says Saugatuck attracts many Floridians who rentals, but stopped when she became burned out. “There flock to Michigan during the busy summer season to enjoy were too many details to manage, from maintenance and fishing and boating, and to escape the taxes to billing, and I was handling heat in their home state. In Leaveneverything myself,” says Cecchini, worth, Romer says many buyers who now focuses on sales. Before want a place near the Cascade undertaking the role of caretaker, Mountains where they can enjoy agents should assess their prooutdoor recreation, like skiing and fessional capabilities and decide hiking. Most importantly, they whether they have the manpower don’t want what they already have. and systems in place to support “They don’t want a modern home those additional services. or one with Tuscan architecture.

Whether shopping for a cabin They already have that. They want in the mountains, a lakeside 49 % of vacation homeowners surveyed said they feel guilty something that looks like a cabin cottage or a condo on the beach, about not using their vacation home as much as they intended. or a lodge because they want to vacation homebuyers welcome 37 % use their vacation home once a year or less while only wake up in the morning and know the expertise of agents who 26 % use it five times or more each year. they’re on vacation,” Romer says. have the market knowledge and 56 % bought the second home with the intent to rent it out. patience to guide them through Of those who decided to sell their the process.

Consider whether to second home: rent or manage Keep in mind that most buyers Regina Ludes is a freelance writer based ÄÄ 31 % didn’t use it often enough. aren’t local and live several hours in Chicago. ÄÄ 29 % needed the income from the home sale. away by car or plane. They won’t ÄÄ 14 % said it was too expensive to manage. be doing any casual drive-bys. “You ÄÄ 8 % wanted to use the proceeds to buy another home “Increase Wealth with Rentals and Other Investneed to make it easy for buyers elsewhere. ment Properties” on to find the listing online because ÄÄ 6 % no longer enjoyed visiting the area where the CRS.com/learn can help you assist anyone looking that’s where they start their search,” home was located. for additional properties.

Durham says. Photography is Source: Lending Tree survey of owners of second homes, July 2019

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TRENDS

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A New Path

Forward Get an inside perspective on future career paths

By Michelle Huffman

Ø

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BY THE NUMBER S

% 20 of REALTORS® hold broker licenses. % 14 hold broker associate licenses.

275,760 property management companies earned

75 billion

$

last year.

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Ask any REALTOR® about their career and you’ll hear 1.3 million different stories— one for each of today’s 1.3 million REALTORS®.

No two career paths in real estate are the same.

That’s part of what makes real estate such an attractive field. It’s full of self-starters, entrepreneurs and ambitious go-getters who find success in dozens of different ways.

In thinking about how many different paths our CRS Designees have taken—and how valuable their insight is when they share it with others—the Council has developed unique career paths and a series of assessments that can help agents: ÄÄLearn about occupations in real estate that are potentially a good match. ÄÄDecide where they may need more training or experience. ÄÄIdentify the skills that will help them set themselves apart and succeed.

The assessment can also help you consider careers in real estate that you may not have thought about for yourself, like these different paths CRSs can pursue.

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[feature]

field notes

Broker/broker manager, broker/owner The role: Agents run a real estate firm, usually in addition to their duties as a real estate agent.

They are typically responsible for running the company, and recruiting and training agents.

Success story: It took a year-and-a-half of investigation, one rejected-and-revised business plan, and a lot of sound advice from his own broker for Mark Handlovitch, CRS, currently an associate broker with RE/MAX Real Estate Solutions in Pittsburgh, Pennsylvania, to launch his own firm.

Over the past decade, he built a team recognized as the No. 9 brokerage in the Pittsburgh area. Handlovitch and his wife were a solid team, and as a bookkeeper, she complemented his sales and training skills. He also hired an expert office manager—and the three of them combined to create a cohesive leadership team.

“As a broker, you have to be aware of your limitations, so you hire people who are good at your shortcomings,” he says.

Hiring the right agents allowed Handlovitch to avoid a role he dreaded: babysitter. He also referred out his leads to his agents to keep his workload in check and to make sure the agents knew he trusted them and wanted shared success.

He encourages every agent with interest in owning a brokerage to pursue it.

Pros: ÄÄBrokers typically earn more than the average agent ÄThe Ä freedom to work your way Cons: ÄÄResponsible for success of entire office ÄÄEasy to wear too many hats

Consultant The role: A consultant typically offers real estate perspectives or services, such as marketing properties to an outside business.

The arrangement could require a consultant to take on an advisory role in addition to acting as a licensed agent.

Success story: Keith Furrow, CRS, Keith Furrow and Associates Realty in Gulf Breeze, Florida, has a unique background. His first job as an undercover detective for retailers taught him to pay close attention to what people were telling him between the lines of conversation, and through body language and subtle facial changes, he says.

This skill built his career because, as any good real estate agent knows, this profession is all about

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relationships—and this is even more true for consultants, whose positions aren’t going to show up as a job post on LinkedIn. That’s been the case with Furrow, who has worked with dozens of builders as a real estate consultant. Many times he has helped assist builders who in the beginning “have no money, no floor plan and no land.” He helps them buy the land, reviews floor plans, does all the marketing—coordinating photographs, preparing materials, developing strategy—and takes the builder to the public, helping build the business.

Determining the right arrangement— which outlines responsibilities, financial expectations and terms that seem fair —can be challenging, especially when you’re first starting out.

“Over time, I have learned to say no when it’s appropriate and implement structured systems,” he says.

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Pros: ÄÄJob responsibilities and fees can be negotiated ÄAgents Ä can utilize a wide range of skills Cons: ÄÄNo roadmap; a lot of learning from mistakes ÄÄWork is typically inconsistent

field notes

[feature]

Educator/trainer Property manager The role: Property managers are hired by owners or real estate investors, or they work for themselves, to manage the day-to-day operations of rental units, including maintenance, repairs and leasing. They also manage relationships with both owners and tenants.

iStock.com: digitalskillet/Vadmary/esolla/LordRunar

Success story: Dee Davey, CRS, with Davey Goosmann Realty in Mansfield, Texas, was a successful agent when she opened her own firm in 2002, which eventually included a property management division. When she lost her property manager, she and her business partner intended to hire one, but Davey assumed the role. “I had no desire to be a property manager,” she says.

“I thought it was the worst business in the world and a hectic way to make money.”

But Davey quickly discovered she actually liked the business. “As a real estate agent, you can sit down and lay out your goals and identify what your day is going to be like,” Davey says. “But in property management, someone walks in to lease a property or an owner calls and you have to snap into, ‘OK, what does this person need?’”

That means two things: Being organized— having documents together, solid contractors for maintenance, clear lists of contacts—and honing your communication skills. Ultimately, you work for the owner, but you often deal with the tenants. Clear communication and mutual respect are key.

“Tenants and owners are so appreciative of the way they’re treated, if they’re treated well,” Davey says. “And I don’t know it from any other angle.”

Pros: ÄÄLucrative for an organized, connected manager ÄÄOpportunities available since investment in real estate properties has grown Cons: ÄÄUnpredictable 24/7 schedule ÄÄMust wear many hats

The role: Educators teach and develop real estate skill classes for brokerages, associations or independent firms.

Success story: Donna Bruno, CRS, a regional sales instructor with Coldwell Banker in New York, learned at the beginning of her career that while an agent’s success starts with the agent, if she became successful, she would offer better mentorship and instruction than she received. She did find success and opened her own office, and added a second, all while raising her young kids.

Eventually, the demands of running a brokerage conflicted with the needs of her family. When her current position as an educator became available, she jumped at the opportunity to help agents in two states.

“It’s high-paced, high-energy, high-impact work,” she says.

“I’m supporting 1,500 agents right now. I’m proud to say that I am part of a team that focuses on agent education at all phases of their careers. The fact that I have had their positions—as a new agent, top producer, manager and owner/ broker prior to joining my team—is deeply appreciated by the agents and managers I support.”

A typical day includes in-person and live WebEx classes.

After class, she answers about 100 emails or calls a day from her students.

“Obviously, you really need to be successful yourself. And if you’re going to come out of producing, you have to be willing to share the ideas that made you successful and give 100% of your heart to the agents you impact.”

Pros: ÄÄCash flow independent of seasonal real estate swings ÄÄ Opportunity to give back to the industry Cons: ÄÄ Quick-turnaround travel ÄÄ Requires deep knowledge to answer questions Michelle Huffman is a freelance writer based in Milwaukee.

The quick assessments on crs.com/resources/ career-path provide a custom analysis designed to help you grow professionally.

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A MIGHTY

TRIO Strong leadership begins with effective coaching, delegation and feedback

By Donna Shryer

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Ø

The most successful supervisors employ the most powerful tools to build unbeatable teams. While it’s only logical to assume that these tools involve sharp, cutting-edge technology, that’s not the point at all. This is about putting the “human” factor back into human resources.

Effective coaching, delegation and feedback anchor a great supervisor’s tool set. When used in combination, this mighty trio helps motivate the entire team, clarify expectations, improve performance and boost morale. The impact can be so profound that the Residential Real Estate Council (RRC) recently introduced a course, “HR Solutions: Effective Delegation and Feedback at the Next Level.” This highly interactive course guides supervisors to successfully use delegation, coaching and feedback to draw the best work from others— without spending more time than they have to spare.

One-on-one interaction between a team leader and team member ignites delegation, coaching and feedback, emphasizes Michael Burkhard, CRS, RRC immediate past president and managing broker at Bray & Co. Real Estate in Grand Junction, Colorado. “In this digital age, it’s easier to send a text than it is to sit down with someone for a conversation.

It’s easier, but the team suffers.”

Here’s a deeper dive into how great leaders use these three actions to guide team members and become better managers themselves.

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“IN THIS DIGITAL AGE, IT’S EASIER TO SEND A TEXT THAN IT IS TO SIT DOWN WITH SOMEONE FOR A CONVERSATION. IT’S EASIER, BUT THE TEAM SUFFERS.” —Michael Burkhard, CRS

The Residential Real Estate Council

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May 29 June

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perfect practice

Coaching focuses on the future.

“Think of coaching as proactive rather than reactive,” says Dale Carlton, CRS, RRC past president and broker/owner, Carlton Realty Inc., Fayetteville, Arkansas. “It’s also educational rather than laying down the law.

Coaching is how I help someone reach a goal.”

And, Carlton adds, devoting time and energy to coaching a team member can be a powerful motivator. “I think coaching helps someone visualize their engagement with different opportunities,” Carlton says. “When you can visualize something, it’s a big step toward achievement.”

What we know: The Institute of Coaching at McLean, a Harvard Medical School affiliate, reports that 80% of those who receive coaching experience increased self-confidence, and more than 70% benefited from improved work performance, relationships and more effective communication skills.

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The ability to delegate is a skill that separates OK bosses from great leaders. However, it’s easy to cross that line between micromanaging and delegating. It’s particularly tempting to offer too much input when the leader successfully managed a particular project they are now entrusting to another.

It helps to remember the essence of delegating. “People often confuse assigning a task with delegating,” says Dale Carlton, CRS, broker/ owner, Carlton Realty Inc., Fayetteville, Arkansas. “Delegation begins with giving someone a task, but you also hand over full ownership of that project. Delegating gives this person the authority to make decisions, and they’re responsible for all results. That includes getting credit for success. It’s a big step further than assigning.”

If after delegating a project the urge to micromanage creeps in, here’s insight from Michael Burkhard, CRS, RRC immediate past president and managing broker at Bray & Co. Real Estate in Grand Junction, Colorado: “Micromanaging wastes everyone’s time. The leader just took on another task and the team member isn’t learning a thing.”

But what if a leader sees a team member about to make a mistake?

“As long as this mistake isn’t catastrophic, sometimes you have to let someone slip a little,” Burkhard says. “They need to figure out what they’re doing wrong—so they can figure out how to do it right.”

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A FINE LINE

perfect practice

Delegating is about trusting and empowering others to help grow the business.

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There’s no perfect approach

While research continues to reinforce the importance of coaching, delegation and feedback, there is no one-size-fits-all way for an effective leader to deploy this trinity of management principles.

For example, some people prefer informal, conversational feedback over a cup of coffee, while others respond better to a formal, scheduled meeting over handouts.

“You have to look at each individual on your team,” Burkhard advises. “How does each person prefer to learn? Are you delegating to someone with experience or is this person just beginning their career? These are things a good leader learns by approaching every team member as an individual.”

Great leaders know how to delegate, although it’s a tricky trait to master—largely because the word’s dictionary definition doesn’t tell the whole story.

“The literal meaning only brushes the surface of what delegation is all about,” Burkhard says.

For example, Burkhard adds, a good delegator finds the right person to do the right job, which goes deeper than simply assigning a task. It involves watching how different people work, communicate and interact. A good leader also pays attention to an individual’s interests.

A well-delegated project takes careful forethought, but it’s worth the time and energy—as the effort will almost always heighten a team member’s sense of engagement in their own projects as well as their connection to the entire team. “That can make a huge difference in everyone’s success,” Burkhard says.

What we know: In a study designed to quantify the return from delegating activities, thousands of law firms were examined. It was determined that lawyers who work with associates earn over 20% more when they delegate effectively. The figure jumps to 50% for top lawyers who delegate.

A win-win

Good coaching, wise delegation and thoughtful feedback help build a more successful team.

Mastering these leadership skills encourages others to shine, bringing out everyone’s top performance, encouraging development and fostering explosive engagement.

It’s all good for business.

But the prize goes beyond the bottom line, Carlton says.

“The best leaders have greater satisfaction with their own life.

When I lead people to do what they enjoy doing most—and are Designation very good at Maintenance doing—that lets Meet your me focus on what Designation Maintenance I do best. So being requirements a good leader today! Read this article makes life more and “Leads Are satisfactory for Seeds” on p. 32, take a 10-queseveryone.”

Feedback is about communication and building relationships.

“Most people see feedback as constructive criticism—helping someone understand what’s preventing them from reaching a goal and how they can make better decisions moving forward,” Carlton says. “At the same time, though, feedback is about acknowledging a job well done. It’s how a good leader can help someone feel a sense of pride in what they accomplish. If I can help someone feel better about their own success, that person is more likely to build on that success.”

There’s yet another layer, Burkhard adds. “I see feedback as a two-way street—more like a conversation between the supervisor and team member. For me, I want to know if this person sees any way we, as a team, might do things better. Are there new challenges I’m not aware of? What solutions did this person figure out to meet those challenges? This conversation gives me a fresh perspective, and it’s very valuable feedback.”

What we know: A 2019 research project reveals that 98% of employees who receive little to no feedback from their managers are disengaged at work—meaning they’re uninspired and unlikely to put in extra effort.

Employees are 20 times more likely to be engaged when their manager provides constructive feedback about weaknesses. If a supervisor focuses on strengths as well, an employee is 30 times more likely to be engaged.

tion quiz and earn 2 credits.

Go to CRS.com/ trs-quiz to get started.

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The Residential Real Estate Council

Donna Shryer is a freelance writer based in Chicago.

crs.com

May 31 June

Leads Are

Seeds Designation Maintenance Article

These uncommon approaches to lead generation can help you grow your business in uncertain times

iStock.com: DGM007/Ratsanai

By Matt Alderton

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marketing

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Imagine that your real estate business is a garden. You start each day with an empty plot of soil. In order to turn that vacant ground into a bountiful harvest, you must plant crops and continually tend them until they bear fruit.

And when your first harvest has been picked bare, you must plant new crops. If you don’t plant, you don’t eat.

The moral of the story: Leads are seeds, and seeds are sustenance. “Lead generation is everything,” says Keller Williams REALTOR® Steve Epstein, CRS, senior partner at The Epstein Partners in Santa Barbara, California. “It’s the only thing that matters because if you don’t have leads, you don’t have commissions. Full stop. End of story.”

Lead generation is especially important in times of crisis like the present, according to REALTOR® Marianne McNally, CRS, principal broker at Manor Realty in Salem, Oregon.

“With the pool of clients getting smaller, you have to have your face everywhere so you are [buyers’ and sellers’] first thought,” says McNally, who like so many REALTORS® had to adapt her business this spring to the new reality of “social distancing.” “Since I can’t be out in the public like I am used to, I need every avenue to leads open to me … I am still working my sphere and

1

“LEAD GENERATION IS EVERYTHING. IT’S THE ONLY THING THAT MATTERS BECAUSE IF YOU DON’T HAVE LEADS, YOU DON’T HAVE COMMISSIONS. FULL STOP. END OF STORY.” —Steve Epstein, CRS

reaching out via phone, email, text and cards. I made it through the last downturn of the market; I can make it through this.”

Now more than ever, McNally says, lead generation is an investment from which REALTORS® can’t afford to abstain.

“Now is not the time to pull back on your marketing. If anything, ramp it up,” she advises.

“We will have a fallout of agents. We always do when the market goes down. You want to be there when the other faces are gone. I am getting myself ready to battle.”

Extraordinary times call for extraordinary techniques. Instead of traditional tactics like door knocking and cold calling, consider these unorthodox lead-gen approaches—which can keep your business healthy both in good times and in bad:

Indulge your hobbies.

If you’re a workaholic, the best thing you can do for your business might be to work less and play more, according to Epstein, who combines business with pleasure at every opportunity. Because he enjoys wine, for instance, he belongs to several wine-tasting groups. Because he enjoys music, he plays in a band. Because he’s nuts about sailing and motorcycles, he belongs to the local yacht club and rides in motorcycle groups.

“But here’s the thing: I don’t ever bring up real estate,” explains Epstein, who says the secret is building authentic friendships and rapport. If you bond with someone first over wine or motorcycles, he suggests, they’ll eventually ask what you do for a living. And when they inevitably have a real estate question or need in their life, they’ll think of you.

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The Residential Real Estate Council

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May 33 June

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Socialize on social media.

If you’re not satisfied with your existing hobbies, get new ones, suggests REALTOR® Jodi Sherretts, CRS, broker at First Market Realty in Houston, Texas. Because she was looking for something fun to do, she joined a fantasy football league; although she joined for entertainment, not networking, her new friends nevertheless showered her with business when she bonded with them.

“My football commissioner moved four times and referred many people to me who he worked with,” says Sherretts, who just as easily might have joined a book club or another activity. The key was trying something new that allowed her to meet a new group of people. “I got outside of my regular circle of friends, and being the new person in that group really worked in my favor.”

REALTOR® Linda DeVlieg, CRS, an associate broker at Keller Williams Realty in Albuquerque, New Mexico, indulges her interests not only offline, but also online.

A recent experience illustrates her approach: An avid home cook, DeVlieg follows food and beverage brands she loves on social media, and regularly comments on their posts. When she recently acquired a new client who was relocating to Albuquerque from out of state, she discovered that the client had found her because she’d commented on a recipe on Instagram. Because the client worked for the company that posted the recipe, she saw DeVlieg’s comment and noticed that she was a real estate broker in Albuquerque.

Clients have similarly found DeVlieg on social media complimenting local businesses and pointing out the fine points of neighborhoods and communities.

“I’m always positive,” DeVlieg says.

“When you make yourself known as someone who compliments others, people recognize that. That translates to business, because whatever energy you put out into the universe eventually comes back to you.”

Social media has become particularly effective in the current moment.

When communities began practicing social distancing this spring, for instance, many REALTORS® began marketing themselves to clients and prospects by live streaming on Facebook and Instagram.

McNally has taken a more personal approach. “I have Zoom meetings with clients or I connect with them using FaceTime,” she says. “At this point, we need to pull out every trick in our hats.”

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Explore new interests and activities.

Show Your Leads Some Love It’s not enough to acquire leads. In order to grow your business, you also must nurture them.

When you do, prospects become clients, and clients become repeat customers and referrers.

“Why are we always out there looking for somebody new when we could be making the people who already know us work for us?” asks Marianne McNally, CRS, principal broker at Manor Realty in Salem, Oregon.

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To ensure future business from past clients, spend time every day or every week staying in touch, advises McNally, who keeps tabs on clients through social media and mutual acquaintances, then either calls or sends handwritten personal notes when they have news to share, such as a child graduating from high school or a new pet. Meeting for the occasional coffee, lunch or dinner seals the deal.

“I’ve been focusing on this for the last two months and I’ve already seen an uptick in business,” McNally says.

super marketing

4

Establish routines.

iStock.com: TatianaNikulina/gavni/PeopleImages/ribkhan/ ctoelg/DESKCUBE

Along with hobbies, you can mine leads from habits, according to McNally, who habitually patronizes the same businesses in pursuit of organic relationships with their employees. At the supermarket, for example, she always checks out with the same checker.

“If I’ve received good service from someone, I go back to that same person so we can get to know one another,” McNally says. “I don’t immediately ask them if they’re looking to buy a house, but eventually the topic of my business comes up.”

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Draw attention to yourself.

A good way to generate leads without being a smarmy salesperson is to make people curious about you. McNally, for example, wears a nametag in public as if she forgot to remove it, which invites strangers to ask her where she works when they see it. Epstein, meanwhile, drives a distinctive car, which likewise induces auto enthusiasts to strike up conversations with him at gas stations and in parking lots.

“You never know when you might meet a buyer or seller,” McNally says.

6

Serve your community.

Epstein volunteers on the boards of several charities and nonprofits, including an organization that serves homeless families, a local maritime museum and a government committee whose job is overseeing city spending of sales tax revenue. Although he doesn’t actively discuss real estate with fellow volunteers, he replies to board emails from his work account, messages from which include a branded email signature. “Every time there’s a group email, I hit ‘reply all’ and get my business out there,” Epstein says.

Community service likewise can breathe new life into traditional lead-gen techniques, according to Sherretts, who has an agent who successfully door knocks not on behalf of her business, but rather on behalf of Dress for Success, a nonprofit that collects donated business attire for economically disadvantaged women to wear on job interviews.

“She doesn’t knock on doors to ask people if they want to move. She knocks on doors to ask people if they want to help a fabulous charity— but the only business card she has with her to leave them is her real estate card,” Sherretts says.

Whether you tend toward the creative or the conventional, it’s Designation important to remember that Maintenance lead generation takes time—just Meet your Designation like gardening.

Maintenance “Nothing in real estate happens requirements fast,” Sherretts concludes. “But if today! Read this article and “A you’re patient, things eventually Mighty Trio” on will take off.” p. 28, take a 10-question If you invest in lead generation quiz and earn now, you’ll be ready when they do.

2 credits. Go to CRS.com/ trs-quiz to get started.

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Matt Alderton is a freelance writer based in the Chicago area.

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May 35 June

inside

IT’S TIME

RRC news from the council

Why does RRC need a strategic plan?



There comes a time in every business’s life when a plan is needed to grow to the next level. We believe this is the right time for our organization to determine the direction that RRC will take over the next few years.

While we strive to empower real estate professionals to reach their full potential through education, networking, referrals and business resources—the how is evolving as the industry evolves and we must stay ahead of the curve.

To give us a real-world range of opinions, we assembled a diverse strategic planning group of experts, including our board of directors as well as industry leaders outside our organization, state leaders, volunteers, members and RRC senior staff. All provided input in the development of the strategic framework that will: ÄÄ Better define who our target audiences/segments are and how we reach them. � Better formulate our value proposition: Why belong to the Council?

Why remain a member of the Council?  Focus on expanding education reach to attract new participants in order to increase revenue, create a pool of new potential members and

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reinforce the message that our education is a path to success.

The new strategic framework for RRC is broken down into three main categories, with several strategic goals under each category.

1. Value to Real Estate Professionals

� To be the indispensable business development resource for success-driven real estate professionals at each stage of their career. ÄTo Ä be the industry’s source for timely, leading-edge education and the gold standard designation for achievement and professionalism in real estate. ÄTo Ä be the top-producing REALTOR® community of likeminded professionals who come together to learn, network, collaborate and share business opportunities through a robust referral system.

TO plan 2. Communication, Outreach and Influence

� To be a sought-after partner with brokers and real estate organizations for access to and distribution of quality education and business resources, raising the standard of practice in real estate. ÄTo Ä be a model for use of technology and innovative techniques to communicate, engage and deliver programs and services.

3. Organizational Development and Sustainability

� To operate with the structure, financial capacity, leadership and active member engagement needed to achieve Council goals and meet the business development needs of real estate professionals as those change.

Our vision to be the premier business development organization for REALTORS® and international real estate professionals is at the heart of the strategic plan. This plan allows our organization to be agile and flexible, and able to respond to industry and member needs.

Please check the notifications page at CRS.com/notifications for all updated Council news.

SHARE YOUR THOUGHTS

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Do you have ideas on how to make The Residential Specialist an even more useful resource for real estate professionals across the country? Help improve this publication by taking part in our annual readership survey! Share your opinions on what you like and what can be improved, and you could win one of three $100 Amazon gift cards. We’re always looking for fresh ideas and topics to help real estate professionals thrive and be more successful. Visit CRS.com/survey to share your thoughts today!

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The Residential Real Estate Council

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May 37 June

BUZZING GARDEN

resources for learning & leisure

stop AND SME Reap the health benefits of gardening—here are 10 tips for growing your horticultural skills



Beyond the visual appeal of lush plants and flowers, gardening can contribute to a healthy lifestyle. The physical exercise and calories burned lead to healthy weight and blood pressure levels, while the calm interactions with greenery can positively affect your mood and mental health.

You may be thinking, “My house plants never make it, how can I possibly keep flora alive outdoors?”

Fear not, as keeping a garden fresh and healthy is not as hard as you might think. Consider these 10 tips for beginner green thumbs and you’ll be on the right path to becoming a successful horticulturist.

1

Find the right spot. Make sure to choose a plot of land that’s within eyesight. The more you see of your garden, the more likely you’ll spend time caring for it.

2

Account for sunlight. Before planting, observe how sunlight plays through your yard. Misjudging time in the sun for your plants is a common error by amateur gardeners. If you’re planning on planting fruits or vegetables, most of these need at least six hours of sunlight a day.

3

Know your water source. It’s important to have easily accessible watering capabilities for your garden. Make sure your garden is close to your hose, so you don’t have to make multiple trips when watering. To tell if your plants need water, simply push your finger down about one inch into the soil. If it’s dry, your plants need a drink.

4

Soil is key. One of the best ways to help your garden grow is to have nutrient-rich and well-drained soil. Add six to eight inches of this infused soil on top of whatever dirt is already in your backyard. Don’t hesitate to ask for help at your local gardening store before making a purchase.

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Pots are still an option. You don’t necessarily need a bed of soil to start a garden. If you live in a more urban setting, consider setting up some pots or containers on your deck, balcony or rooftop. It’s a great way for those without a lot of space to experience the joy of plant care.

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LL THE ROSES 6

What to plant? Based on your climate, sun exposure and other potential growing conditions, choosing the right kind of plants is extremely important when starting a garden. Do your homework and learn what common garden plants will need to thrive.

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9

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Know your zone. The USDA has divided the country into 13 different plant hardiness zones, based on a location’s minimum winter temperature. Last updated in 2012, a map is available to see what plants survive best in which locations. You can access the map and more information at planthardiness.ars.usda.gov.

Frost is a killer. Plan your gardening season around the last and first frost of the year in your area. The Old Farmer’s Almanac has kept track of this information since 1792, and it can be accessed at almanac.com/ gardening/frostdates. Planting too early can spell disaster for young sprouts, and not planning for fall or winter weather can result in cold-damage.

Adding mulch. Applying a layer of 2- to 3-inch-deep mulch around your plants accomplishes two things: One, it helps reduce moisture loss through evaporation, meaning you’ll have to water less; and two, it will prevent weeds from growing near the base of your plants by blocking out sunlight.

Plants may get hungry. In addition to quality soil, you may want to consider boosting your garden’s growth by giving them plant food. Like other living things, make sure not to overfeed, as this can be detrimental to your plants’ health. But when applied correctly, extra nutrition can help keep your plants healthy for longer.

AVERAGE ANNUAL EXTREME MINIMUM TEMPERATURE Temp (F) Zone Temp (C) -60 to -50 1 -51.1 to -45.6

Source: usda.gov

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-50 to -40

2

-45.6 to -40

-40 to -30

3

-40 to -34.4

-30 to -20

4

-34.4 to -28.9

-20 to -10

5

-28.9 to -23.3

-10 to 0

6

-23.3 to -17.8

0 to 10

7

-17.8 to -12.2

10 to 20

8

-12.2 to -6.7

20 to 30

9

-6.7 to -1.1

30 to 40

10

-1.1 to 4.4

40 to 50

11

4.4 to 10

50 to 60

12

10 to 15.6

60 to 70

13

15.6 to 21.1

The Residential Real Estate Council

crs.com

May 39 June

learn

from the

BEST strategies from the industry’s top educators

team SPIRIT How to be an effective leader

By Monica Neubauer



A well-run team of the right size can be an awesome way to do real estate. If you are establishing a team or are already a team leader, there are a few things to keep in mind.

Team size, configuration and roles

Compensation

Monica Neubauer is the podcast host for NAR’s Center for REALTOR ® Development podcast, and is a CRS Certified Instructor. She has presented at Sell-abration and at the NAR annual conference. She teaches a variety of RRC courses, including “Technology and Plans for Success,” and “Converting Leads into Closing.” She works with Benchmark Realty LLC, in Franklin, Tennessee.

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It is very important that team members understand how they will be compensated and how they benefit from the work of other members of the team. Agents who see the commission divided among team members have to feel that they are getting value for that payout. They might be receiving mentoring from the team leader, be given the lead for a deal or get administrative support. Clarity on this point creates an atmosphere of gratitude and cooperation, and frees people up to do what they are good at.

Leadership

Being a real estate team leader is like being a classic small-business owner. Early on, draft a business plan to articulate team goals. Some people plan well using good business-growing skills, while others stumble into the leadership role because they have more business than

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they can handle. Without adequate planning, however, things can fall apart quickly; roles can become vague and, worse, the split becomes unclear. Take time to plan, set a clear vision for your business and put the right people in place.

Mentorship

If you are considering becoming a team leader, think about how you will fulfill the role of mentor to new agents. Every new agent needs an education in how to sell real estate and build their own business; that can be accomplished through association training, a brokerage that provides classes or through a team. Team leaders who have newer agents should recognize this educational responsibility because it affects the leader’s success. The team leader needs to make clear what will be provided for the agent, what will be expected of them and what their cost-benefit will be. Brand-new agents might not know the questions to ask on these points.

Longevity

Teams that are well-established can benefit from periodic check-ins as well. Does your team need a tech refresh? Encourage all members to share new apps or gadgets. And setting annual goals for individuals and the team gives everyone something to work toward—especially if the end-of-year acknowledgment is something that team members would really enjoy.

iStock.com: Color_life

RRC INSTRUCTOR

If a team is too big, the client can get lost in the shuffle. Every team must make sure that the client is having an experience that is continuous and hassle-free. Effective teams come in many types and sizes. Small, two-person teams can be made up of a parent-child duo, or an agent with a full- or part-time assistant. A large team might have a rainmaker, a listing specialist, two buyer’s agents and two administrators—such as a transaction coordinator and a marketing specialist. On large teams, each person’s role should be well-defined. For instance, the rainmaker turns over a new client to an agent and transaction coordinator so the customer experience is seamless, while the marketing specialist conducts marketing and listings for the team.

coaches CORNER Leverage your skills

EXCEPTIONAL service Delivering outstanding customer service

By Brian Buffini



As a business owner, making your clients feel valued needs to be at the center of all that you do. Research shows that 70% of buying experiences are based on how customers feel they’re being treated. If you treat a customer more like a number than an individual, your business will suffer in the long run.

In the real estate industry, providing exceptional customer service is vital. Here are some ways you can refine your customer service skills and build strong, long-lasting relationships with your clients, no matter the market conditions or industry disruptors.

your head 1 Get in the game

There’s an old saying in sales: Find ’em, fleece ’em and forget ’em. Unfortunately, this crude approach describes how some organizations still treat their clients. If a business focuses just on the check, those customers will treat that business not as a trusted adviser to refer to others, but as a one-off commodity. Instead of just seeing dollar signs when you get a new lead, change your mindset. Focus on what you can do to best serve your clients. Give them your time, attention and care, and you will create loyal advocates for your business.

a 2 Maintain can-do attitude

When it comes to getting your customers what they want, focus on productive solutions. A great tip is to say, “Let me see what I can do!” Even if something seems impossible, this phrase illustrates that you are still trying to deliver exceptional service. If you go above and beyond for your customers, you will remain in their minds long after the deal is done, and you’ll receive more valuable referrals as a result.

3

Keep your heart in the right place

Strong relationships are at the heart of every successful business, so you must prioritize building relationships with your clients.

Customers can tell when your desire to serve is the real deal—and when it’s not. Strive to interact with your customers in a genuine, timely and authentic way. Ask questions, engage with their needs and work to strengthen the bond. For example, writing personal notes is a highly effective way of connecting with your customers.

take 4 Always the high road

It’s a fact of life—things go wrong, and people make mistakes. When this happens, it can be easy to get frustrated or angry. We all know it’s important to hold your ground and stay strong in your own position when you’re representing the needs of your clients. However, you should always be courteous to the other parties, too. You can fight for your clients without sacrificing your integrity. Here’s a pro tip for you—try writing the agent on the other side of the deal a personal note after a transaction or during difficult times to demonstrate your character.

Follow 5 the proven methods

The best practices for excellent customer service will never change.

In order to always exceed the needs of your customers and create advocates for life, you must learn these practices and master them. A real estate coach is a proven way to help you stay accountable, and encourage you along the way.

If you’re in real estate, great customer service is your job. Buffini & Company One2One Coaching has been providing powerful real estate coaching for years. Sign up for a free business consultation and start your journey today!

Visit buffiniandcompany.com for more information.

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RRC

connect

YOUR RRC

network



expand your network

A customer of mine who lives in Albuquerque, New Mexico, was trying to sell a property without the assistance of a REALTOR®. He called Charlotte Boyer to ask questions about selling a property in Altamonte Springs, Florida. He received a very low offer from an investor, and although the home needed repairs, he believed the home was worth more than the offer. Charlotte gave him a report of estimated home values in the neighborhood and recommended that he use a REALTOR® with the CRS Designation to assist him in selling the home.

Charlotte put out a message on the We Are CRS Facebook page looking for someone to help with the listing. I was able to connect with her and as it turned out, the client’s mother was ill and needed to sell her home here to help her maintain her lifestyle. We ran into a few inspection issues, but we were able to work through it and finally got the property sold and closed—and ended up with both happy buyers and sellers.

CONNECTION PERFECTION

—Sue Vasquez, CRS , BHHS Results Realty, Kissimmee, Florida

WEST

WEST

Selling Lake Tahoe Since 1989 Over $1 Billion in Closed Sales

WEST

YOUR GREATER LOS ANGELES REFERRAL SPECIALIST

BEN & CAROLE HEINRICH Local real estate experts in Carmel, Carmel Valley, Pebble Beach, Big Sur, Monterey & Pacific Grove for over 30 years.

Refer to me for RESULTS!

Craig Zager • The Zager Group Carole, CRS, CFP® Ben, CRS & CRB RSPS & SRES CRS NorCal chapter past president

www.TheHeinrichTeam.com 831.626.2434

www.CraigZager.com

Team@TheHeinrichTeam.com

650•504•0219 Ben BRE License #: 00584641

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Carole BRE License #: 01069022

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RRC connect expand your network

WORLD-CLASS EDUCATION The Residential Real Estate Council offers lifecycle, agent-to-agent learning, spanning the career of the residential real estate agent. The Council’s education is recognized as the best in the industry and includes live classroom courses, self-paced eLearning, live and on-demand webinars, videos and articles.

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Check out all of the RRC learning opportunities at crs.com/learn.

WEST

WEST

WEST

CALIFORNIA’S MONTEREY PENINSULA A trusted name on the Monterey Peninsula for nearly 50 years!

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20 20

The Residential Real Estate Council

crs.com

May 45 June

RRC connect

YOUR RRC

network

expand your network

Reach more than

30,000

MID-ATLANTIC

CRS peers with your ad here.

Contact Joe Stella: jstella@glcdelivers.com or 847-205-3127

PACIFIC

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Celebrating 25

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46

The Residential Specialist trsmag.com

Nancy D. Metcalf, CRS Hawaii CRS of of Year, 2003® Hawaii Association REALTORS

CRS, GRI, SRES e-pro

May June

...sharing Aloha through excellence and experience...

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SHARE YOUR EXPERTISE

[resources]

reach out to the experts who made this issue happen

Would you like to be a source for a future story in The Residential Specialist?

Send an email to kcure@crs.com to be added to our potential source list.

A Home Away from Home Michelle Cecchini, CRS, Chelle Realty Company

386-717-8005, chellerealtyco@gmail.com

Laura Durham, CRS, Mill Pond Realty

269-857-1477, laura@millpondrealty.com

A Mighty Trio Michael Burkhard, CRS, Bray & Co. Real Estate

970-242-3647, burkhardmike@gmail.com

Dale Carlton, CRS, Carlton Realty Inc.

479-200-8028, dale@carltonrealtyinc.com

Arlene Kelly, CRS, Ola Properties

808-781-7248, arlene@olaproperties.com

Geordie Romer, CRS, Windermere Real Estate

509-679-8958, geordie@windermere.com

A New Path Forward Donna Bruno, CRS, Coldwell Banker

Leads are Seeds Linda DeVlieg, CRS, Keller Williams Realty

914-329-7614, donna.bruno1@cbmoves.com

505-440-7200, linda@realestateinabq.com

Dee Davey, CRS, Davey Goosmann Realty

Steve Epstein, CRS, The Epstein Partners

817-228-8150, deedavey50@gmail.com

Keith Furrow, CRS, Keith Furrow and Associates Realty

805-689-9339, steve@theepsteinpartners.com

Marianne McNally, CRS, Manor Realty

850-288-9725, keith@keithfurrowrealty.com

403-409-4389, marianne@mariannnemcnally.net

Mark Handlovitch, CRS, RE/MAX Real Estate Solutions

Jodi Sherretts, CRS, First Market Realty

412-980-7648, mark@markhandlovitch.com

832-721-5634, jodi@firstmarketrealty.com

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The Residential Real Estate Council

crs.com

May 47 June

advice from your peers

Q:

NEW

price

—Donna Hazlewood, CRS, Keller Williams Realty Gulf Co., Pensacola, Florida

What is your favorite tagline for reduced property?

Price adjustment —Jane Becker, CRS, Keller William Realty, Holden, Massachusetts

SToEfAaL

A “before” house at a “before” price

DEAL —Gail Lidinsky, CRS, Crown Properties Group, Sarasota, Florida

—Ellis Gardner, CRS, Keller Williams Realty Signal Mountain, Tennessee

Repositioned or price improvement —Erika Hansen, CRS, Coldwell Banker Mid-America, West Des Moines, Iowa

May June

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— C RS C in d y Ul ,E R McF eal E XP-Fe srud, r r ar ar la s t a t o e nd , Wis Team , c on s in

Repriced —Jim Lee, CRS, RE/MAX Shoreline, Portsmouth, New Hampshire

NEW in this price range —George Iacono, CRS, @properties Winnetka, Northfield, Illinois

PRICE

IMPROVEMENT —Patrick Lowell, CRS, Compass, San Francisco, California Have a great story to share? Email social@crs.com or look for discussions happening online at our Facebook, Instagram, LinkedIn and Twitter pages.

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