AUSTRALIA 7-18-22

AUSTRALIA EDITION

EVERY PLAYER IS VALUABLE: HOW TO BOOST YOUR TEAM'S MORALE

RECONSIDER REFERRAL-ONLY WHEN PLANNING FOR THE FUTURE

BY THE NUMBERS:

UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

MILLENNIAL BUYERS:

WHERE THEY ARE & WHAT TO KNOW

COVER STORY

JACQUELINE BLACKET

AUSTRALIA EDITION

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JACQUELINE BLACKET

CONTENTS 4) RECONSIDER 18) EVERY PLAYER IS REFERRAL-ONLY WHEN VALUABLE: HOW TO BOOST PLANNING Based FOR THE FUTURE YOUR TEAM'S MORALE in Double Bay, The Blacket Agency mainly serves the eastern suburbs of Sydney, including Vaucluse, Bellevue Hill, MILLENNIAL THE NUMBERS: Woollahra,BUYERS: Paddington, Rose Bay,21) and BY other surrounding areas.

14) WHERE THEY ARE UNDERSTANDING THE TRUE With strong ethics and a genuine concern for real estate license join her father, who & WHAT TO KNOW VALUE OF and SQUARE FOOTAGE their clients’ well-being, Jacqueline Blacket has been in the real estate field for many and her father, Peter Blacket, set themselves years. When the two joined forces as The apart as caring and compassionate real Blacket Agency, Jacqueline set about launchestate agents serving their local community. ing the leasing arm of the business. Now The Jacqueline has a background in banking, hav- Blacket Agency does a mixture of sales and Phone 310-734-1440 | Fax 310-734-1440 ing graduated with a Bachelor in Economics leasing, forming long-term client relationand worked for 10 years at banks in Australia ships through exceptional service and word mag@topagentmagazine.com | www.topagentmagazine.com and abroad. In 2014, she decided to get her of mouth.

No portion of this issue may be reproduced in any manner whatsoever without prior consent of the publisher. Top Agent Magazine is published by Feature Publications GA, Inc. Although precautions are taken to ensure the accuracy of published materials, Top Copyright Top Agent Magazine Agent Magazine cannot be held responsible for opinions expressed or facts supplied by its authors.

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Reconsider Referral-Only When Planning for the Future

A 100% referral rate is a testament of client happiness. But even a 30% referral rate is proof of client satisfaction. It’s all relative, say some agents. One number pays tribute to past success, which is certainly a story worth telling. But the other might better predict the future. Many agents plan for the idea that 4

working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector.

Unless you are clairvoyant enough to flawlessly predict every market change or every

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Many agents plan for the idea that working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector. life change that your clients and referral partners may experience, it’s wise to maintain an active marketing presence. The reasons vary, however, depending on the goals and trajectory of each individual’s business.

If long-term success, a growing team, a legacy or expansion into new areas are not priorities, then working a sphere of influence may be enough for some agents, especially those who may be in the industry mostly for the love of the business. But for a majority of agents, no matter how much they love their work, their real estate and mortgage businesses are careers, first and foremost.

Let’s start with the team-builders and mentors. Agents and brokers who are building teams are wise to invest in business marketing, advertising and community outreach. Ty Hutchins, who owns and operates Ty & Company Real Estate in Colorado’s Front Range, says that, while she could personally live off referrals alone, her goal is to build up her agents. “I do the marketing piece for my team, so I can help them succeed,” she says. That marketing includes running commercials on TV and in movies theatres, as well as lead generation that identifies potential buyers, sellers and Top Agent Magazine

investors between the Colorado Springs and Denver markets. Her team’s goal, she adds, is to promote their reputation of being honest, hardworking professionals with the reach of a major brand but the personalized approach of a boutique.

Then there are the growers. Khrista Jarvis and Nicole Jung of The Khrista Jarvis Team in the San Francisco Bay Area, are on a considerable growth track. “We’re the #1 team in our area and the top team in Compass Real Estate nationally,” explains Khrista. While high marks for service on behalf of their clients have led them to these heights, they know that they must continue to evolve and market their brand. “We do a good deal of social media marketing for our listings and for our business,” she says. Their names, therefore, are frequently linked to sentiments of trust, dependability and market knowledge, both in their marketing and in their reviews.

Next, there are those who weathered the worst of times. Susan Roche entered real estate sales in 2003, following several years of property management in North Carolina.

The key to her sustained triumphs through major market swings lies in her long-range planning. “If the market starts to dip or fall,

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I have safety nets in place,” says Susan Roche, team leader of Simply Real Estate, based in Charlotte. “When it’s a seller’s market, I still plan for a buyer’s market and when it’s a buyer’s market I plan for a seller’s market..” In other words, no matter how comfortable her existing work may feel, she networks consistently. She also employs a full-time marketing director who leads several projects including ongoing research, events and social media exposure in addition to listings marketing. By staying ahead of market changes, Susan knows she can unfailingly represent her clients’ best interests while still maintaining a safety net for her business.

Even professionals with more than three decades’ experience and deep referral networks know the importance of business

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marketing. Cathy Richards, co-owner with Nancy Dalaska of Epic-Wasatch Homes in Park City, UT, entered real estate in 1987 and still draws at least a fifth of her business from lead generation, social media marketing and community outreach. Her business partner, Nancy, adds that real estate is about much more than their own business. “We love collaborating and brainstorming with other agents to help them prosper,” says Nancy. “We believe the healthier the market, the better we all are.”

Regardless of market conditions, even the best reputation can’t guarantee long-term success. To sustain and grow, it’s wise to feed your business by increasing exposure, remaining flexible and maintaining systems for customer service, networking, research, marketing and lead-generation.

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JACQUELINE BLACKET

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Based in Double Bay, The Blacket Agency mainly serves the eastern suburbs of Sydney, including Vaucluse, Bellevue Hill, Woollahra, Paddington, Rose Bay, and other surrounding areas.

With strong ethics and a genuine concern for their clients’ well-being, Jacqueline Blacket and her father, Peter Blacket, set themselves apart as caring and compassionate real estate agents serving their local community.

Jacqueline has a background in banking, having graduated with a Bachelor in Economics and worked for 10 years at banks in Australia and abroad. In 2014, she decided to get her 8Copyright Top Agent Magazine

real estate license and join her father, who has been in the real estate field for many years. When the two joined forces as The Blacket Agency, Jacqueline set about launching the leasing arm of the business. Now The Blacket Agency does a mixture of sales and leasing, forming long-term client relationships through exceptional service and word of mouth.

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Based in Double Bay, The Blacket Agency mainly serves the eastern suburbs of Sydney, including Vaucluse, Bellevue Hill, Woollahra, Paddington, Rose Bay, and other surrounding areas. “I quite like working in an assortment of different suburbs, because I get to deal with many very different Top Agent Magazine

people, which is quite fun,” Jacqueline says. “I enjoy getting to work with a range of different clients.” Clients often become close friends. “When you’re helping friends you’ve known for 20 years, it’s not work.

It’s a joy, because you are helping not just a client, but a friend too.”

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Jacqueline and her father’s success in the business is driven by their sterling reputation in their local market. “Dad has been running a business for 40 years, which wouldn’t be possible if he wasn’t respectable and full of integrity,” Jacqueline says.

Jacqueline explains that her and her father’s success in the business is driven by their sterling reputation in their local market. “Dad has been running a business for 40 years, which wouldn’t be possible if he wasn’t respectable and full of integrity,” Jacqueline says. “We have a word-of-mouth business that’s based on giving the best possible service and being ethical and completely transparent. We genuinely care, and we give it 110%. It’s not Copyright Top Agent Magazine 10

about the money for me at all; it’s about having these relationships and giving satisfaction to clients, whether that’s getting them out of a spot sometimes or just getting them into a better position financially, geographically, or otherwise.”

The Blacket Group gives back to the community through sponsoring local organizations and working behind-the-scenes to help out Top Agent Magazine

local businesses. They are also members of the Double Bay Networking Group. When she’s not working, Jacqueline enjoys swimming, running, spending time with friends, traveling overseas, and hanging out with her Labrador puppy, Maggie, who accompanies her to the office most days.

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The result of all the care and attention Jacqueline and Peter provide for their clients is that The Blacket Agency’s business continues to grow in the long term. “For me, this business is about keeping people happy, managing clients, and building a good, longstanding business that maintains its strength Copyright Top Agent Magazine 11

over the years,” Jacqueline says. The team’s work in rentals has translated into more longterm client relationships as well. “Because we do such a good job managing the leasing side of things, when it comes time to buy or sell,

they come to us. I love that our clients trust us because they know the work we do, so that it’s not even a question of bringing another agent through the door. We really deliver on what we promise.”

For more about Jacqueline Blacket and The Blacket Group, email jacqueline.blacket@theblacketagency.com.au, call +61407899944, or visit theblacketagency.com.au www.

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Millennial Buyers: Where They Are & What to Know Homebuyers and sellers come from all walks of life. If you’ve been an agent for long, you’ve likely worked alongside a wide variety of folks—from first-timer homeowners and down-sizers, to second home searchers and those finally hunting for their dream home. While there is hardly a shortage of diversity in the housing market, there 14

is one generation that is making big strides in homeownership these days: Millennials.

Millennials can be loosely defined as those between the ages of twenty-two to thirtyseven. As you can see, this constitutes a wide swathe of the population. If you’re an agent who stands to learn a bit more about

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a demographic whose influence and homeownership goals are rapidly evolving, tune in below for a few pointers that can help you expand a segment of your clientele in the process.

Where do Millennials prefer to buy?

Many Millennials came of age during or immediately following the Great Recession, and as such, many of them relocated or returned to mid-size cities and smaller communities where the cost of living was most affordable. Of course, there are countless Millennials that call the U.S.’s major cities home—especially those in the

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tech industry. The good news is that you can court Millennial clientele no matter where you service area is located. That said, community amenities are of great importance to this generation. They value public transportation, green space, and entertainment—from coffee shops and topnotch restaurants to farmer’s markets and boutiques. Emphasizing those attributes will be key in selling to Millennials and locating neighborhoods they’re most interested in.

What sort of communication do Millennials prefer?

Most Millennials are digital natives, or close to. That means they grew up learning

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how to navigate digital spaces, and prefer to communicate through mediums like email, text, and social media. This isn’t to say that Millennials aren’t good communicators, but they’re often on the go, and have learned to research and shop online. To accommodate this, it’s best to build a presence across the most popular listing portals and social media platforms. Although, it’s not enough to establish a site and wait for the calls to come in. Responsiveness is a key factor for Millennials, who expect speedy response times. Make sure you’re checking your inbox frequently, responding accordingly, and engaging with your audience online. This will let Millennials know

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that you’re savvy, available, and understand the value of their preferred method of communication.

Are Millennials ready to buy?

It’s a common misconception that Millennials are uninterested in the rite of passage of purchasing a home. While Millennials maybe waiting a bit longer than their parents did to buy a home, there are good reasons to explain this phenomenon. For starters, Millennials entered the job market during the downturn, which means they are more conservative when making big purchases, and have to play catch-up to reach a sound

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financial position. Likewise, student loan debt has proved a major financial inhabitation for Millennials. Instead of socking away a few hundred a month to save for a home, they’re forking over that cash to pay down their educational loans. How does a Realtor compete with this reality? For starters, a bit of understanding goes a long way. Work with your mortgage partners to find financing possibilities that cater to this younger demographic. Recognize that Millennials—like most buyers—have some trepidations when buying a home.

Also consider fielding Millennial clientele with the long view in mind. You might be Top Agent Magazine

courting them for months or more until they’re ready to take the plunge, but they’re also famous for their reviews. When a job is done well, Millennials shout it from the rooftops—or at least share it a dozen time from their phone.

As time passes, Millennials will continue to dominate the marketplace when it comes to buying and selling homes. A little self-education on this powerful demographic can go a long way. If you know your clients and your audience, you’ll be in a far better position to serve their interests and make a customer for life.

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Every Player is Valuable: How to Boost Your Team’s Morale In the fast-paced world of real estate, it can be easy to overlook the contributions of those lower-level employees who are instrumental in our success, yet are overlooked when it comes to recognizing the important roles they play in keeping our business operating smoothly.

Even a task that seems simple, such as answering phones, can be overwhelming at 18

times. Letting these employees know that they are appreciated is something that often goes overlooked at busier companies, and can often result in impaired morale overall, as employee dissatisfaction tends to be contagious.

Here are some things that you can do to increase morale and productivity in your workplace: Top Agent Magazine

While it’s important to point out when an employee is doing something wrong, it is equally – if not more – important to acknowledge when that employee is doing something right.

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While it’s important to point out when an employee is doing something wrong, and sometimes to reprimand, it is equally – if not more – important to acknowledge when that employee is doing something right. Even a simple compliment can go a long, long way towards building that employee’s morale, and therefore their willingness to go the extra mile for your team.

An example: “Sally, I just heard you on the phone with that client. You sounded very professional and I really appreciate your representing our business that way.”

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Determine what all of your employee’s goals are, and what their expectations for growth might be. There may be lower level employees who are perfectly content doing what they’re doing, and who have absolutely no expectations for growth in your business. Others, however, may have an interest in moving up the ladder. Make it your business to determine this early on, and try to take a personal interest in your employee’s growth with your company. Knowing there is room to grow is an important factor in employee satisfaction, and knowing who wants to grow and who

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doesn’t is something you should be aware of. Groom from within, and your employees will be grateful and work harder.

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If your workplace is highly stratified, with multiple levels of employees (agents, senior agents, loan processers, assistants, etc.,) make an effort to ensure that everyone feels valued as part of the team regardless of what they earn. Various team building exercises that encourage trust and a sense of familiarity can go a long way towards fostering an environment that is less unnecessarily competitive and more productive and cooperative. A quick web search for “Trust Building Exercises” will help you locate many good ways to achieve a newfound level of camaraderie amongst your team. Many of them are quite a bit of fun, too.

Hopefully these tips will assist you in creating a better-functioning, higher-achieving team of motivated, caring employees.

Remember, a chain is only as strong as the weakest link, so be sure to keep everyone feeling appreciated, supported and valued, and your company will only benefit.

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Laughs!

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By the Numbers:

Understanding the True Value of Square Footage Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure.

True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of Top Agent Magazine

a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.

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1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus,

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original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.

2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage: n

Called “below grade spaces,” basements and sunrooms beyond a home’s typical

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living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings. n

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Did you know the space inside closets and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.

When recording square footage, ANSI actually suggests performing measurements from a property’s exterior—though this method does not account for the

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thickness of exterior walls, which could skew square footage numbers. n

Just like below grade spaces, a garage, a pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.

3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures

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