CHICAGO 6-6-22

CHICAGO EDITION

How to Recognize

TRUE LUXURY PROPERTIES

5 STEPS

TO ACHIEVE LONG TERM SUCCESS AS A REAL ESTATE AGENT

7 REASONS WHY

YOUR PROSPECTS AREN'T TURNING INTO CLIENTS

FEATURED AGENTS

SHELLY GUBSER LISA LONG-BROWN

COVER STORY

ALEX STOYKOV GROUP

mailto:mag@topagentmagazine.com http://www.topagentmagazine.com

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7 Reasons Why Your Prospects Aren’t Turning Into Clients Real estate experts suggest prospecting daily so that your sales pipeline never runs dry.

But sometimes all that effort doesn’t translate into results. If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

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1. You’re Too Slow The Association of Real Estate License Law Officials estimates that there are about 2 million active real estate licensees in the United States alone. Of course, not all these individuals are working in the same markets. Nonetheless, that

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If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

means that realtors face a lot of competition. If you are slow to respond to messages from prospective clients, someone else is sure to beat you to it. As a rule of thumb, it’s best to return calls and emails within 24 hours.

If you’re too busy working with active clients to return the phone calls and emails of prospective clients, consider hiring a real estate assistant who can help take administrative or marketing tasks off your plate.

2. They Don’t Trust You There are different reasons why a client might not trust you, some of which overlap with others on this list. When a client asks you a question, do you answer it directly or do you sidestep it?

Do you have testimonials and reviews from happy clients publicly available? Do you have an online presence? Social proof of your skills and knowledge is key.

3. You Don’t Seem Knowledgeable Enough Is your client constantly coming to you with new listings or marketing ideas rather than the Top Agent Magazine

other way around? Do they mention real estate and finance terms you’ve never heard of or ask you questions you’ve never thought to ask yourself? Every agent starts somewhere, but if this seems to be a pattern, it’s one clients will pick up on too.

Your clients want to know that you will add value to their home buying or selling experience, and part of that value is your expertise and passion.

4. You Have No Web Presence It’s not enough to be on Zillow or have a Facebook page. There are clients who don’t use these platforms, and at the end of the day, you don’t own the content or your access to it. Both platforms could suddenly go out of business and any following you’ve gained could be lost.

It doesn’t cost much to create and maintain a website today. If customization matters little to you, sometimes you can even get up and running for free. At the very least, it’s a good idea to invest in a domain name because yourwebsite. wordpress.com looks a lot less professional than yourwebsite.com.

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5. You Don’t Seem to Care When clients don’t think you care, it usually means they don’t feel like you are listening.

You may have systems, processes, and a proven marketing strategy. You may like to get right down to business, but to your client, this isn’t just business—it’s their life and their family’s livelihood.

When your client tells you what’s important to them, they want to make sure that you really hear them. Make sure your body language conveys that. Slow down. Shut your office door.

Make eye contact, nod your head, and pause before you speak so that they understand that you’ve put thought into your words—that they aren’t simply lines from a script.

6. You Use Too Much Jargon Remember that your clients don’t speak real estate. At most, they might buy or sell a home once every few years. They hired you to be their advocate and may even expect you to be a bit of a teacher too. Use layman’s terms so that your

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client fully understands how the two of you will work together.

7. Your Target Audience Is Everyone Your clients are home buyers and sellers, yes, but who is your ideal client? Some specialties you might consider are college students and recent graduates, working professionals, military families, seniors, CEOs, or other high-profile clients.

As a newer agent, your target audience might be anyone who will hire you, but over time, you might find that you click more with certain clients, that their lifestyle is similar to yours, or that their goals align with your mission. Whatever the reason, marketing your business to this “ideal client” rather than every potential client will make selling your services easier.

Remember: It’s within your power to alleviate your client’s concerns, but understanding why your prospects aren’t turning into clients is a good start.

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ALEX STOYKOV GROUP

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ALEX STOYKOV GROUP The Alex Stoykov Group represents clients all over the Chicago area with Compass, including the Lincoln Park, Old Town, Lake View, Gold Coast, and River North neighborhoods.

Sometimes it takes a 19-year veteran of the real estate industry to remind us of the stakes that come with the job. Alex Stoykov reminds himself and his team often. “At the end of the day, this business is about caring for people,” Alex explains. “Yes, you 8Copyright Top Agent Magazine

have to be experienced, you have to know the market, understand numbers and comps, know how to negotiate. But those skills don’t mean anything unless the client trusts you. You are their advisor for one of the biggest financial decisions of their lives, and Top Agent Magazine

through a process that is inherently stressful. They need to know you have their best interests at heart.”

Nobody knows how important that is better than Alex. It was someone thinking about his best interests that helped him get started in real estate. He was a 19 year old working his way through college when a friend suggested he use the money he had been saving to purchase a condo. Alex did, renovating and flipping the unit to triple his money in a few months. He flipped two more units that same year, and got his real estate license so that he could sell the units himself. “I didn’t Top Agent Magazine

set out to get into this industry,” says Alex.

“But the business came to me.” Alex finished financing his own education, earning a MBA in Finance and Accounting from DePaul University before beginning his real estate career in earnest.

He’s been quite successful in it too. Today the Alex Stoykov Group represents clients all over the Chicago area with Compass, including the Lincoln Park, Old Town, Lake View, Gold Coast, and River North neighborhoods. Last year the team brokered 280 transactions for a sales volume of $110 million, with Alex accounting for 100 of those Copyright Top Agent Magazine9

Business and family ever-entwined; Alex with his wife, Annie, and their two children Parker and Preston.

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Last year the team brokered 280 transactions for a sales volume of $110 million—“I believe in setting a high bar for myself, my team, and the entire industry.”

units himself. His education and the experience Alex brings to the process gives his clients an edge at the negotiating table, and his responsiveness to their needs is second to none. For sellers, Alex offers advice on repairs and home staging that will help them realize top-dollar on the market, and he ensures maximum exposure of their property through a comprehensive marketing plan. All of Alex’s clients come away from their transaction with a better understanding of the process.

The entire team receives gushing reviews for their professionalism, friendliness, and ability to get their clients the best value on their investment. Nor do those relationships stop at the closing table. Whether they want a recommendation for a contractor, have questions about an HOA, are looking for help regarding their property taxes—or whatever the need—clients can reach out and Alex’s team will have a solution. The team also stays in touch with their clients through social media or phone calls or texts. Alex spends part of every day writing personal notes to past clients.

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“If I’m showing a house in their neighborhood, I’ll also often drop by just to say hello. It’s not just a business relationship—we’ve become friends.”

Alex looks out for the health of his larger community as well, helping with fundraising in the local school district, attending meetings pertaining to safety or development issues in the neighborhoods he serves. His work with the Chicago Association of Realtors ensures a better real estate experience for clients no matter who they happen to work with. “Real estate brokers are very important to the community,” says Alex. “I believe in setting a high bar for myself, my team, and the entire industry.”

Going forward, Alex will grow his team as needed, adding agents who embrace the values of client care and superior service that have been the hallmark of his office. He will also continue to make sure his team has all of the resources they need to respond to the inevitable changes in the market.

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For more information about Alex Stoykov and The Alex Stoykov Group call 312-593-3110 or email alex.stoykov@compass.com Photography by CGP Studios | @cgpstudiosre Copyright Top Agent Magazine 12

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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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when it comes to true square footage? If you want to take on the endeavor yourself, here are a few helpful steps to take. n

First, you’ll need a few things to get started, including a tape measure that can measure at least 100 ft., graph paper, and a pencil.

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Next, choose a room to start measuring wall-by-wall. Measure Wall 1, then proceed to assign each square on the gridded paper a corresponding measurement, rounding to the nearest tenth of a foot for the sake of clarity.

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From there, draw out the wall you measured and measure the remaining walls in the

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room. Once you’ve completed the room’s measurements, multiply the room’s length and width to determine its square footage. n

As you go measure throughout the home, using your own system to scale, you will construct a failsafe floorplan.

Mastering your craft is everything, and the real estate industry is no different. Every now and again, it’s worthwhile to update your well of information, take matters into your own hands, and continue to innovate with the industry. While square footage may not seem like the juiciest starting off point for such a venture, never forget: mastery of technical knowledge is a sure sign of expertise.

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SHELLY GUBSER Shelly Gubser is an experienced Realtor® and team leader that combines her marketing background with real estate to craft a perfect client oriented business model.

Shelly has been in real estate for five years but, has fourteen years of experience growing client relationships at full-service advertising agencies. She made the transition to real estate after experiencing corporate burnout. “Working that corporate life, I had a pretty good network so it was a smooth transition. I had a lot of people that trusted me and had a lot of good contacts.”

Relationships are central to her success. Shelly treats each client the way she would want to be treated with a focus on being authentic, honest, and genuine.

Shelly’s team serves the city of Chicago and its surrounding suburbs. 90% of her business is within downtown Chicago and its city limits. Almost 100% of Shelly’s business is referral based. A homeowner herself, Shelly has an eye for design and experience managing home renovations. Her make-it-happen attitude has gained her a reputation her clients can trust. She is equipped to manage her client’s exceptions throughout the process and does an excellent job of communicating and keeping everyone on the same page. “My clients know I will go the extra mile for them.” This business can get stressful but Shelly is an expert at staying calm and getting to the finish line.

Confidence has played a big role in Shelly’s success this past year. She’s experienced a mindset shift and discovered just how resilient she can be in challenging markets.

“This biggest thing I’ve learned is when to invest time and when to invest money.” Investing in a CRM system that saves you time and keeps you at the top of your clients’ minds was one of the innovative strategies Shelly implemented. She uses various touch points each quarter and never misses an opportunity to remind her clients of how lucky she is to have them. Shelly’s intention is to be as thoughtful as possible and make any communication more about her clients and less about her listings.

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Shelly is skilled at marketing in the digital age. She uses a mix of digital and old school advertising, leaving no stone unturned. She feels that the more areas you cover the better and uses magazines, print articles and post cards to her advantage.

“You used to be able to just take a listing and put it on the MLS and people would come to you.” This past year Shelly closed on an incredible 45 transactions with $22M in sales volume. All things considered, Shelly really loves the relationships she builds with people the most. “I think its such a good feeling when someone entrusts such a big asset with you and such a big financial decision.”

Shelly is a big proponent for the Downs Syndrome Association based in her home town of Cincinnati, OH. Together, they host a large fundraiser every year which goes towards research and development. She is also a local contributor to the Ronald McDonald House Charities. Looking ahead, Shelly wants to continue to keep growing. The team dynamic is new to her but she wants to ensure that she has a strong presence in the area and continues to add new members in the future. “The goal is each year to do better and better. More volume, more sales and more teammates.” Shelly is proud of her business, her ability to lead with integrity and her ability to build a business on referrals.

To learn more about Shelly Gubser email shelly.gubser@compass.com, call (312) 618-4146 or visit shellygubser.com www.

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How to Recognize True Luxury Properties What to Consider Other Than Location When luxury home buyers are looking for a new abode, they are often advised to pay most of their attention to location, location, location. And it’s true that good locations often have better properties, but if you’re only looking at location then you might be forgetting what it is in a luxury property that makes it luxury. You could view a property in a great location, and because you completely ignored any of the other factors that make a property high end, you might find that once you move in, you aren’t as pleased with the actual house itself as you thought you would be. Here are the other things you should look out for when purchasing a luxury home: • Architectural Uniqueness: The simple fact is that good

architecture retains its value. Do your homework on architects and find the ones that have a good track record of designing beautiful, but practical homes. Don’t simply pay attention to how the building looks today. Consider how it will look in a few decades. Keep an eye out for the “bones” of the building, and decide whether they will stand the test of time or not. Things such as a solid foundation, high-grade materials, unusual details, and artistic components are good aspects to consider.

Will the structure hold up well or will it degrade and crumble without constant upkeep? That funky molding may look artistic today, but in ten years will it be considered artistic or just plain weird?

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• Practical Layout: Make sure you have enough room to live

in comfort. As a buyer of luxury property, you probably have quite a busy social schedule. You want to make sure that the layout will lend itself to helping you maintain clear separation between your social areas and private ones. You don’t want guests having to go back into your bedroom to use the bathroom. Look out for places with stairwells, awkward columns, long hallways, and other wastes of space.

• Unobstructed Views and Light: You want to live in

a home that gives you lots of natural light, such as one that is open to the outdoors. That natural light will improve your mood, as well as the resale value. The openness of a space filled with natural light will make you feel more comfortable and happy in your new home. What about the view? Do you see a Do you park, a bridge, a river, or a skyline? Is the see a park, fantastic view out your window protected? a bridge, You’ll need to understand the surrounding air a river, or a rights and zoning allowances of neighboring buildings to understand the possible risks. skyline?

• Windows: Windows are the primary source of losing heat and

cooling. Make sure they are double-paned with good insulation that will protect your home against weather and noise. Unless the windows are already like this, it is unlikely that the condo or co-op board will allow you to install your own.

• Ceiling Height: Consider the cubic footage of the property.

You want to look for high ceilings that increase the openness of a room.

Of course, you don’t want to go too high. Above 14 feet will get you diminished marginal returns.

• Storage: If you’re a woman, you will understand this one. We need

lots of closets and additional storage room to fit all of our clothes, shoes, jackets, hats, purses, etc. However, lucky for you, your potential home’s existing closet square footage will not limit you from putting in more storage space. Custom closet companies can create any kind of storage

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space you desire. You will have to, however, make sure that your new home does have an area that you can turn into this storage space.

• In-Unit Laundry: In-unit laundry has become necessary for

any luxury home or apartment. Do you really want to have to trek down flights of stairs to use the basement laundry? If you still consider it wasted space, you can convert it into more closet space.

• The Gym: Having a fitness area nearby is an amenity that is especially

important, particularly in winter when you don’t feel like walking to the gym a few blocks down.

One thing to consider is the Do you really want of the gym in relation to have to trek down size to the size of the building in flights of stairs? light of common area fees.

• Move-In Ready: I’d advise against buying time-consuming and

frustrating fixer-uppers no matter how much you want to add custom kitchens, finishes, fixtures, and other characteristics. Choose a property that already has all of these amenities taken care of. These properties have already had the same designers you would hire fashion the house at a fraction of the cost you would pay to have them do it after you move in. In this light, it is worthwhile to pay a little extra for the move-in ready home.

• Reputation: Pay attention to the reputation of the building. A

property that has a good reputation tends to retain its value. You can easily find this out online on posts, and established locals are likely to have an opinion.

If you want to buy luxury property that is really worth it’s price, then I would suggest adding these points to your list of things your new home must have.

If you want to get a high quality home that is a true luxury, you’ll want to watch out for these aspects as well as the location. Some properties might claim to be luxury based on their location, but when compared against this list, they don’t make the cut. So, don’t be fooled by imposters, and make sure you find a true high-end property.

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LISA LONG-BROWN Before entering the world of real estate, Lisa had a successful career in Sales and Marketing firms, holding positions as Operations Manager & Controller. Though after spending 15 years managing companies, she decided “to engage in work that would have a meaningful and lasting impact on people’s lives and merge my love of Chicago with my love of developing relationships with others, into a career in real estate”.

With a background in finance, sales, marketing and operations, Lisa’s transition to real estate was intuitive and natural for her. This business background gives her the unique ability to use her project management skills to handle all elements of the buying or selling process. Her creativity and problem solving skills are a tremendous help with the negotiating process and helps her reach a deal that is in her client’s best interest and that meets their needs. As a Controller, she oversaw all facets of the

company, and so naturally she manages the whole process for her clients. Adding this to her already strong tech, analytical and organizational skills propelled her to $25 million in closed/pending sales in 2021.

She serves a wide clientele moving into the heart of Chicago and also condo owners looking to grow a family and head out to the suburbs. She focuses largely on the area near where she lives, including Wicker Park, Bucktown, Lincoln Park, and Logan Square. The clients have been clustered there because when she started, most of them were her neighbors and friends.

Soon after word of mouth in those neighborhoods grew to the near 100% referral business that it is today.

Recently she became the exclusive broker for a 55 unit new construction project delivering now in Wicker Park that is about 90% sold.

She feels that a home is so personal and sacred, everyone should love where they live. Helping people find their dream home is a dream job. And it has been rewarding to have lasting friendships with many of her clients.

For more info, call 773-899-3771, email LisaLong@AtProperties.com and visit atproperties.com/site/lisalong www.

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5 Steps to Achieve Long Term Success as a Real Estate Agent Real Estate can have a reputation as an industry with a high turnover as far as agents go. Being a ‘people person’ with an entrepreneurial spirit is a great start, but what some fail to realize when starting out is that this is a business.

So if you’re in it for the long haul, you need to treat it that way. Here are some key steps you need to take to have your own successful real estate business.

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FIND A MENTOR

Once you get your license and hang your sign at a Brokerage, you’ll find that you’re pretty much on your own. That’s why it’s a good idea for new agents to find a large Brokerage that offers in-house training and mentorship or a boutique brokerage that has more seasoned agents who are eager to take a new agent under their wing. Being able to shadow a more experienced agent is invaluable and allows you to mirror what you’ve seen and run through the numerous scenarios that will arise when you are representing a client.

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CONTINUOUS TRAINING

This is a business that is constantly changing, so it’s smart to always stay ahead of the curve when it comes to new technological innovations and systems. There are even numerous online resources, where you can keep up on your trade, such as blogs by top producing agents that are a treasure trove of information. A confident agent with an in-depth knowledge of the business is one that easily earns the trust of their client, leading to repeat and referral business, which will be the bread and butter of your business.

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BUILD A STRONG ONLINE PRESENCE

Yes, referrals are the basis of your business, but building a strong online presence and marketing yourself to new clients is also important, especially before you’ve built up a strong referral base. Facebook, Snapchat, Instagram, and other social media tools are great way to get leads both for your listings and for yourself. It’s even a good idea to buy several domain names when you start, so that when you’re ready to build a website, you can ensure you have the names you want. Obviously the internet is also a great resource to find leads. Before you find a niche for yourself, it’s important to take advantage of every avenue there is. A lot of successful agents started off doing things no one else wanted to take on like foreclosures, expired listings or lower priced homes. But as you’ll find out, helping those who need it most is a great way to build a loyal client base, that will not only come back to you when they are ready to sell or buy again, but will be your biggest cheerleaders when it comes to referring you to friends and family.

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BUILD A SOLID FOUNDATION

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SET GOALS

One thing you’ll find in this business is that doing a lot of work up top, will lead to a more successful outcome down the road. That goes for marketing plans for your listings, as well as your business as a whole. It might not be the fun part, but it will allow you to one day focus on what you do best, dealing with your clients. Set up your CRM and the other systems you want to use from the get go. Getting these things established before you’re hopefully a busy agent is the best time to really learn them and decide what’s best for you.

Once you build a strong foundation and are establishing your client base, it’s important to continually set goals that help you implement your business strategy.

You can even invest in a real estate coach if you need someone to hold you accountable. It’s also important to constantly reevaluate what you’re doing. Set up a monthly audit, where you go over what is and what isn’t working. As we mentioned above, this is a fluid business and things are constantly changing, the same can be said of your business. What worked a year ago, might be losing you money as your business grows.

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