AUSTRALIA 3-21-22

AUSTRALIA EDITION

5 Ways to

TRANSFORM RENTERS INTO OWNERS

How to Answer the Inevitable Question:

WHY SHOULD I CHOOSE YOU?

Small Yard?

Big Statement: HOW TO MAKE THE MOST OUT OF MICRO OUTDOOR SPACES

FEATURED AGENTS

GRAHAM BERMAN TRACY LEE COVER STORY

IVAN LAMPRET

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How to Answer the Inevitable Question:

Why Should I Choose You? In some markets, a real estate agent is competing against thousands of other individuals and teams. There are only so many bells and whistles—so many buzz words you can throw at prospective clients. To a buyer or seller who has interviewed several other agents already, all of it begins to blend together and every realtor sounds as though they’re reading off the same script.

Your clients want to know why they should choose you. They want to know what makes you different. It’s highly likely they’ll even 4

ask you this question directly in your initial interview, but as an agent, you might have a hard time coming up with a response that either you or your clients are truly satisfied with.

To answer your client’s why you must go back to your own why.

WHAT SKILLS DO YOU HAVE THAT OTHERS DON’T? Just because there are other agents in your area doesn’t mean those agents have the

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same skills that you do. We each bring our own backgrounds and experiences to the table. What comes naturally to you? Maybe it’s your negotiating skills or your ability to connect people that sets you apart from the rest.

WHAT PART OF THE BUSINESS DO YOU ENJOY THE MOST? There are skills and then there are passions.

In real estate, there’s so much to enjoy.

There’s the opportunity to match a family with the right home and the sense of safety and comfort that brings their loved ones.

There’s the ability to give someone a sense of financial security by advocating and negotiating on their behalf. And then there’s the houses and neighborhoods themselves— the architecture, history, and community.

WHAT ARE YOUR ACCOMPLISHMENTS? When you look at your client list and the portfolio of work that you’ve built over the years, what are you most proud of? Sure, there are financial rewards, but there are also other accomplishments that your prospective clients will likely be eager to hear about, such as happy client testimonials, a thriving referral business, volunteer and charity work, or even how you lift and support your own team.

Everyone needs money, but those other accomplishments and how you speak about them show your client what kind of person Top Agent Magazine

you are and if that’s the type of person they want to work with.

WHAT ARE YOUR INTERESTS? Real estate might seem like your entire world at times, but you also have a life outside of work. Maybe you like music or traveling or being outdoors. The best part about being a realtor is that there are often ways you can thread these interests into your work, like hosting client functions and events.

WHAT DOES YOUR CLIENT CARE ABOUT THE MOST? Let’s face it, your clients likely care the most about only a few things: saving or making the most money, doing it as soon as possible, and making sure that doing so isn’t too stressful. Your response to your client’s question—why should I choose you?— should address these concerns.

Maybe you excel at creating systems that make the selling process efficient and profitable for your client. Or maybe you excel at providing a personalized experience for homebuyers.

Try out a few responses. You might even start with a template: My [skills or passions] helps me [provide this service] because I can [achieve my client’s goal].

Like most things in life, coming up with a compelling and concise response for why clients should hire you will take time and practice.

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5 Ways to Transform

Renters into Owners Perhaps the largest demographic of untapped business lies in the rental market. From major cities and suburbs to rural communities—renters across generations are opting to rent rather than own. The question is: why? For starters, many Americans are undereducated about the inventory and financing options available that might suit their budget and lifestyle. Secondly, many would-be homeowners have difficulty 6

visualizing the potential investment of purchasing property, and how homeownership can build wealth and security in the long-term.

As an agent, you’re always on the lookout for potential clientele. Now, to guide renters toward the real estate market, keep a few of these strategies in mind as you meet and greet this untapped demographic.

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Show renters that purchasing a home isn’t impossible

Possibly the biggest hurdle for renters is believing homeownership is possible. Beyond saving for a down payment and boosting credit scores, there are dozen more factors to consider: affording utilities, homeowner’s insurance, renovations, property taxes, and more. Besides that, assembling pay stubs, finding an agent, arranging house tours, negotiating a price, and timing the transition are all major considerations to surmount.

One way to combat this thinking is to make the process transparent and demystified. Find examples of past clients who made the leap successfully, or profile the average buyer in your marketplace and see how that renter compares. Provide evidence that it’s been done before and can be done again, then build a game plan from there.

into play. Consider making a checklist, or step-by-step road-map, that guides clients through the process from start to finish. This way, you’ll manage expectations and create a path to ownership that’s specific, instead of abstract. They won’t have to wonder what goes into buying a home when they can look at an interactive site or read a document and see the steps outlined before them, with you there to guide the way.

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Collaborate with mortgage professionals to find the right financing opportunities

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Help would-be homebuyers create a road-map to ownership

It’s no secret that buying a home can feel overwhelming. Compared to signing a yearlong lease on an apartment, taking on the house-hunting process is a daunting affair.

That’s where your expertise as an agent comes Top Agent Magazine

Many renters aren’t aware of the variety of mortgage financing options out there that cater to first-timers, offer low down payments, or down payment assistance. Most buyers believe that the standard 20% down is a hard and fast rule, when in reality, there’s far more flexibility out there to cater to renters where they are. There are even loan options catering to freelance workers, renovation options, and other unconventional routes to ownership.

Work with a mortgage pro and find the route that suits your renter best.

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pay monthly in a mortgage—while building a lasting asset.

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Compare and contrast rental rates with monthly mortgage payments One way to convince renters to make the shift is to demonstrate the savings potential of paying into a monthly mortgage, rather than throwing away rent on a property they don’t own. To do this, draw up the average rental rates in your area, then find some potential listings that would demand a similar amount in monthly mortgage payments. Sometimes placing these numbers and images sideby-side can prove to renters that what they manage to pay monthly in rent, they can

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Paint the big picture

For most, renting isn’t the most sustainable financial option when it comes to housing.

Rents rise, families grow, and retirement looms.

Building a financial future and homeownership go hand-in-hand. When planned appropriately, buying a home can create a path toward retirement and position homeowners in a better place for further investment in the future. A rental has little security or investment returns to offer, while owning a home makes a renter king or queen of the castle.

Prospecting renters as potential homebuyers may seem like a time-intensive way to cultivate new clients, but logic is on your side.

Keep these tips in mind as you broach the conversation with renters in your hometown.

All it takes is clear-cut value proposition and a listening ear.

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IVAN LAMPRET Top Agent Magazine

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Ivan Lampret is the Managing Director of Gibson Partners Real Estate, where he supervises an elite team that assists clients throughout Cronulla and the surrounding areas.

Throughout his life, Ivan Lampret has always possessed an entrepreneurial spirit. He first took an interest in real estate at 19 years old, after graduating from school in 1992. Inspired, he would accept an opportunity with a top producing company in Cronulla, where he had a chance to learn the business from the ground up. Working just one day per week putting out signs and assisting with office duties, he would quickly climb the ladder and pursue his real estate license and become a fully-fledged real estate agent at the young age of 21, which was unheard of in the industry at that time.

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Setting numerous office sales records and having firmly established himself as a leading agent in the area, he decided to take his career to the next level and launch Gibson Partners Real Estate in 1999.

Although he opened with only 5 staff and not one listing on the books, Ivan’s strong work ethic, drive and determination saw Gibson Partners grow rapidly and succeed within a very short time.

Today, Ivan is the Managing Director of Gibson Partners Real Estate, where he supervises an elite team that assists clients throughout Cronulla and Top Agent Magazine

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“When I’m assisting a client, I don’t just think of their transaction,” Ivan says. “I also consider their future, setting them up for long-term success. I would never give them advice that I wouldn’t follow myself.” the surrounding areas. In raising the bar of service within the region, he has cultivated a truly boutique workflow around the core values of openness, integrity, and compassionate service.

When listing a property, Ivan offers his clients a comprehensive strategy. After helping them fully prepare their home for the market, he broadcasts it via a blend of highly targeted digital and social media campaigns. Along the way, he also shares his listings to his team’s extensive database, ensuring a seamless transaction catered directly Copyright Top Agent Magazine 12

to each client’s needs. He is one of the few selling Principals that remains very hands on right throughout the sales journey.

But Ivan is just as helpful when assisting his buyers, leveraging his decades of experience and in-depth knowledge of the local market to uncover the right investment for their best interests. In fact, he prefers to keep in touch long after the closing through regular check-ins—all to cultivate a lasting relationship and provide his clients with ongoing support in their new homes. Ivan is Top Agent Magazine

known locally to be the ‘go-to’ person when one needs an honest opinion or some guidance.

Over the years, Ivan has earned a fantastic reputation throughout Cronulla, with the vast majority of his volume coming from repeat clients and referrals. Having personally completed over 140 Top Agent Magazine

transactions in 2021 alone, he remains focused on the proven standards that have consistently set him apart in the market. “When I’m assisting a client, I don’t just think of their transaction,” he says. “I also consider their future, setting them up for longterm success. At the end of the day, I would never give them advice that I wouldn’t follow myself.”

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Outside his career, Ivan is deeply invested in his community. On top of supporting local schools, sports teams, and non-profit organizations throughout the year, he also contributes to annual celebrations.

When he’s not with clients or at his desk, he can be seen going for a run along the Cronulla foreshore, attending sporting events with his family, or taking a break and driving his collection of classic cars, playing his pinball machines and collecting garage/ man cave memorabilia.

Moving forward, Ivan has a strong vision for the future of his business. With Gibson Partners now managing almost 600 properties within the Cronulla region, he intends on further expanding the business with the creation of a development arm, while also growing his team. In the meantime, though, he is more than satisfied with the fulfilling life and career he has fostered within his beloved community. Simply put, “I just love what I do, and I get a real buzz from people succeeding after taking my personal advice,” he says.

To learn more about Ivan Lampret, please email Ivan@gibsonpartners.com call 02-9523-1333, or visit gibsonpartners.com www.

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

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Buyer’s Perspective: Emotions Running High?

Channel it.

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

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

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

Sellers Perspective: Manage expectations.

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

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

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

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

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

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

Seller’s Perspective: How powerful is cash?

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

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

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GRAHAM BERMAN Graham Berman truly loves what he does. “I absolutely have a passion for real estate,” he explains. This is seen in his work with clients in Sydney’s Eastern suburbs. He’s developed a reputation for delivering excellent service, guiding them throughout the transaction and leaving no questions unanswered. His journey in real estate started after he purchased and sold a few of his own properties. “I was in the import and distribution business, so I had plenty of experience in customer service and marketing,” Graham says. “I built long-term relationships for 20 years prior on an international scale, so I felt real estate would be the perfect fit.” Today Graham has been in the business for nearly a decade and leads his own team at Ray White Double Bay. With his referral rate remaining high, Graham makes sure to only take on a limited number of properties in order to provide the best service possible. “I just want to give my clients the best experience,” he explains.

Knowing how important this transaction is in his clients’ lives, he wants to eliminate stress, handling all the details so they don’t have to worry about anything else.

His vast experience in the business world has helped him flourish as an agent, as he is naturally driven to find solutions and establish lasting connections with those he serves. Graham takes the time to understand his clients’ needs, and works to achieve their goals by focusing on the details. “Integrity, hard work and ethics rank high with me as does team work, support and the unwavering commitment to one’s clients and partners,” he says.

Marketing properties in the right way is a large part of his work, with Graham taking advantage of various different mediums. “I still utilize print ads, but our main focus is online,” he says. “We use all the major websites and I also do a lot of social media marketing through Instagram, Facebook and LinkedIn.” Working with a marketing company, he’s able to target specific Top Agent Magazine

demographics for each property. He passes out letters to neighbors and spreads the word through his network.

It is not surprising that clients love to tell others about their time with Graham. One recently said, “Graham was extremely professional, responsive, open and honest in his communications with myself and the purchaser. He gave me a price range based on thorough research, and the sale set another record for the building (just like his prior sale in the building). He engaged a great stylist who presented the property to the best advantage and arranged a fantastic video and photos that drew in a lot of prospective purchasers.”

When Graham isn’t working, he’s giving back to the community through sponsoring schools and supporting local businesses. During his free time, he’s climbing mountains, running marathons or enjoying the outdoors.

As his business continues to expand, he hopes to keep doing so in a controlled manner. “I think growth is a good thing, but certainly at a manageable pace, so we can stay true to our core values. There’s nothing better than getting a great testimonial from both the vendor and the buyer saying they are thrilled with the service.

At the end of the day, it’s about making sure you’ve done a great job.”

For more information about Graham Berman, call 0419 240 598 or email gberman@raywhite.com 17 Copyright Top Agent Magazine

Small Yard? Big Statement: How to Make the Most Out of Micro Outdoor Spaces When house-hunters compile their lists of musthave home items, a dreamy backyard space is often near the top. After all, who doesn’t want an outdoor oasis of their very own? From summer barbecues to open space for your dog to frolic— everyone has their own aspirations when it comes to creating the perfect backyard paradise. But as homebuyers seek properties deeper within city limits, and Millennials opt for properties with 18

urban amenities and access, home-connected outdoor spaces are becoming a bit smaller in stature.

Of course, size isn’t everything when it comes to outdoor space. Even balconies, rear patios, and ultra-tiny yards can provide homebuyers with the outdoor reprieve they crave—even on a smaller scale. For a few ideas that can help you envision all the possibilities of a micro outdoor space, read on for inspiration.

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Think vertically.

When space is at a premium, think up instead of out. In other words, make the most of small spaces by capitalizing on your backyard, balcony, or patio’s overhead height. Mood-setting string lights, hanging pocket or wall gardens, floating shelves, and modern overhead hangings can create a sense of privacy and luxury without cluttering the square footage on the ground.

Soothing sounds set the mood.

Upgrade the look of structural components.

Not in love with your patio pavers? Don’t have the sweetest view off your balcony? Whatever your small backyard living space gripe may be, there’s always a solution if you go back to the basics. Consider the structural components of your outdoor space that you aren’t in love with and there’s likely an affordable, eye-pleasing solution. For instance, plenty of home goods Top Agent Magazine

retailers make a variety of punchy or luxe outdoor rugs that can disguise stained or lackluster outdoor flooring. Power-washing is another great solution for old grime and dirt that’s an eyesore. Don’t have a great view? Planting ivy on bare walls, installing adjustable mood lighting, or hanging planters can create a more inviting ambiance.

While there may not be room for a swimming pool or pond in a micro yard or balcony, you can still bring the calming presence of water to your outdoor oasis. Fountains run the gamut in sizing and price, making this amenity an easy acquisition. What’s more, a running fountain not only adds a soothing sound to your space, but it also helps drown out noise from the street or the neighbors—making your space entirely your own and stress-free.

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Don’t compromise on your culinary dreams.

If you love to entertain in outdoor spaces or relish the chance to man the grill—small outdoor spaces don’t have to trip you up. Grill options (both propane and charcoal) come in a range of sizes, many of which can be outfitted securely to balcony posts or be tucked away and out of sight when out of use. Consider nesting tables or those with a removable leaf to adjust your seating and dining options depending on company.

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Another trick? A small, oscillating fan can keep air flow moving in a small space during grill season—and can be easily affixed to walls or posts, as well.

Don’t let yourself or clients be discouraged by spaces with more limited square footage in outdoor areas. Furniture and design trends have already begun shifting toward providing better small-space options, and at the end of the day, a backyard space is all about providing an area for relaxation. With a few well-placed, strategic choices, you can still have it all.

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TRACY LEE There is example after example of REALTORS® who come to the real estate world and find success after having a previous career.

Some come on a whim or a hunch, some make the switch in the hopes of increasing salary, and some need to learn the ropes of the business. Not Tracy Lee. A sales representative in Perth, Western Australia for the nearly 100-year-old Shellabears Agency, Tracy felt as though the attributes from her previous work were easily transferable. Unlike other REALTORS®, Tracy just happens to have a financial investment background that not only separates her from the pack of real estate agents, but more importantly gives her client a distinct advantage in a process that can sometimes be overwhelming.

“I started in real estate seven years ago after being in banking for over 10 years and wanting a change,” Tracy said. Tracy has a Bachelor of Commerce degree from the University of Western Australia and a Master of Business Administration from Curtin University, which led to her previous career in accounting and banking.

Talk about having an advantage.

“My skills have really been in relationship management, and I felt there were a number of similarities between the banking industry and the real estate industry. The need for commercial and financial acumen, and good professional customer service among them. I also really like properties.”

A good call on Tracy’s part.

Working as a solo agent with administrative and marketing support from Shellabears, which she just joined, after almost three years with a different agency, Tracy covers what is called Perth’s ‘Western Suburbs’ and inner-city suburbs with the majority of her business coming from repeat clients and referrals. She averages between $700,000 to $1 million for every property she sells. But that’s not what drives her.

“I’ve had clients ask me to sell a number of their properties and I think it’s just a combination of many things. I give personalised service and I tailor marketing programs that suit my seller’s situation. Every seller is different. I work together and collaboratively with all my sellers for a successful outcome.

I’m less about real estate awards; I’m very low key. I just really want to do a great job,” Tracy said. “I’m motivated by great outcomes and client satisfaction. I prioritise my seller’s interest. Because of my background in finance and as a Fellow Chartered Accountant, I feel like I have strong expertise in negotiation, communication and marketing. I have a keen eye for details. For my sellers, I give suggestions on how best to present our properties effectively. One of the best reviews from one of my sellers said I gave really good advice that was not about gimmicks but was just about being effective.”

Tracy said that while she considers herself to be at the forefront of technology and uses social media extensively, she still relishes sending her “fortnightly” newsletter and enjoys talking to clients on the phone, “the old-fashioned way.”

An avid walker and tennis player who loves catching up with friends and family, Tracy has her sights set on growing her brand in the future.

“Every day is different for me. It’s such a privilege to be able to be invited to people’s homes and help them sell a significant asset and work with them. It’s an amazing job because I get to meet so many different people and see so many different houses,” she said. “The future in a pandemic world? My best is yet to come. I am just ramping back up again. One of my core values has always been about self-improvement. I’m always striving to be a better version of me, personally and professionally. I’m keen to help more clients with their real estate needs to significantly improve their lives.”

To reach Tracy Lee, call her on her mobile phone at 0411-166-001. You can also email her at tracy@shellabears.com.au, and find her on the web at www.tracylee.com.au

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Tips on Being a Good Team Leader Your business is booming, so much in fact, that you’ve finally made the decision to start a team. You’ve made sure it’s financially feasible, and you’ve found the right people, but there is still one other component of a successful team. And that’s an effective leader. It’s your job to not only generate business, but to motivate your team, which in turn increase productivity. Here are a few simple tips on being a good team leader.

1. Evaluate each team member, making sure to utilize their strengths Hiring the right people is one of the first steps in creating a successful team, but once you have those people it’s really 22

important to figure out where they best fit into the operation. Having every team member be an ‘expert’ in their part of the process leads to seamless transactions and a business that runs like a well-oiled machine.

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Of course it’s also important to create a supportive atmosphere that allows team members to stretch beyond their comfort zones, under your guidance. It’s to the whole team’s advantage when people take initiatives to up their game by taking additional training or mastering a new and innovative technology that can improve productivity. The key is to constantly evaluate not only your systems but the people running them. It’s your job as a leader to encourage that personal growth while making sure to always protect against any major misfires. Which leads us to…

2. Always reevaluate what is and isn’t working It’s a good idea to have a weekly meeting where the whole team can convene and go over any snags they may have hit in the systems that you developed when starting your team. Your team is in the trenches with you and since everyone probably focuses on a different aspect of the transaction, it’s important to make sure things are working on every level. Make sure copious notes are taken during these meetings so you have a track record of what was suggested, as well as a history of things that may have been tried and the results.

Another good thing to focus on in these meetings is goal setting. Set weekly and monthly goals, and use the meetings to discuss what’s being done or needs to be done to meet them. When goals are met, it’s a great bonding experience for everyone. When they aren’t, it’s a moment to learn how you can do better in the future.

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Don’t forget to always take in what you can do to be a better team leader as well.

3. Stay connected and in communication These are your team members! There’s more to that than just a label. Be connected to them on a daily basis. Clear, open and honest communication is important on a busy team and that’s much easier if you actually like and trust your co-workers.

Sure you want to succeed for yourself, but knowing that other people you respect are counting on you, is an additional motivating factor, that is certain to lead to everyone going above and beyond creating a wildly successful business.

4. Be inspiring and supportive If you’re enthusiastic about what you’re doing, it really will be infectious. Encourage innovation and creativity. Yes, systems and consistency are great but don’t let your team get in a rut either.

Support their individual careers, always encourage them to go for more, let them rely on you for mentorship. If they sense that you want each member to succeed as much as you have, you won’t find more loyal employees. And perhaps most importantly focus on what’s being done right. Don’t be the boss that just points out things they don’t like. Let them know when they’ve done an amazing job and be specific about what it is. Make them feel valued and they will become a valuable asset to you and your business.

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