GEORGIA 10-24-22

GEORGIA EDITION

24-HOUR TOUCH-UPS

UNTANGLING THE BIDDING WAR: A BUYER’S & SELLER’S PERSPECTIVES

to Maximize Your List Price

INCORPORATING CHARITABLE GIVING IN YOUR REAL ESTATE PRACTICE

1 Billion-Plus Reasons Why You Should be Active on Facebook

COVER STORY

TIFFANY STONE SCOTT

GEORGIA EDITION

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TIFFANY STONE SCOTT

CONTENTS

TIFFANY STONE 15) SCOTT 4) UNTANGLING THE BIDDING 1 BILLION-PLUS REASONS WAR: A BUYER’S & SELLER’S PERSPECTIVES

WHY YOU SHOULD BE ACTIVE ON FACEBOOK

6) INCORPORATING CHARITABLE GIVING IN YOUR REAL ESTATE PRACTICE

20) 24-HOUR TOUCH-UPS TO MAXIMIZE YOUR LIST PRICE

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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 Top Agent Magazine

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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Incorporating Charitable Giving in Your Real Estate Practice

As real estate professionals, taking part in the community and serving others is central to a long-lasting practice. After all, agents are in the business of homeownership, building a financial future, and helping their clients begin new and fruitful chapters. With that in 6

mind, how might an agent deliver that spirit of service in a broader sphere?

The truth is, charitable giving offers nothing but upsides. Contributing to a worthy cause is a noble and meaningful endeavor, but it

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Contributing to a worthy cause is a noble and meaningful endeavor, but it also presents positive byproducts for the giver: tax write-offs, name recognition in the community, and the ability to expand your network.

also presents positive byproducts for the giver: tax write-offs, name recognition in the community, and the ability to expand your network. If charitable giving is an idea you’ve toyed with, or a practice you’ve engaged in only now and again, here are a few ways to make it a foundational element of your business and a win-win for all.

Find causes that speak to you.

Donating funds or resources can feel anonymous if you’re divorced from the organization you’re working with. While national and international charitable organizations are certainly effective and worthwhile, you might consider partnering with local chapters of those organizations, or identifying hyper-local organizations that address need in your state, county, town, or even your own neighborhood. The first step to establishing a charitable relationship is to find a cause that you genuinely care about. For many, animal rescue is a tangible cause where resources and volunteership are always welcome. For others, children’s health and advocacy is a calling. Regardless Top Agent Magazine

of your personal passion, participation can be big or small. From sponsoring a local youth sports league to partnering with an area animal shelter for their annual spay-athon event—there are all sorts of ways to make a difference.

Unite your team for the common good.

One way to make charitable giving a staple is to do it in arm and arm with others. Supporting a local cause is a great way to bring your team together in a unifying capacity. Hosting coat drives in winter, blanket drives for local animal shelters, or backpack drives for needy students at the start of the new school year— all are straightforward and highly useful, direct ways to give to your community as a team. It’s also important to set collective goals as a way of keeping people motivated and accountable over time. Offices are productive, but often hectic spaces.

Injecting a collective goal with a positive, tangible result can create an ambiance of goodwill and generosity—both of which are worthwhile attributes to cultivate as

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the leader of your team. Lastly, consider timely giving as a way of connecting your team to their community. Natural disasters, local fundraising drives, and improvement funds are all direct ways your team can contribute, while they themselves reap the benefit in the community.

Include clients in the process.

You’ve likely heard of charitable donations made in the name of your client as an alternative to the classic closing gift, but there are a few ways you might update this method of giving. For starters, consider including your clients in the selection process. Do they have a special cause that’s close to their hearts? Likewise, you might

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consider making regular, consistent giving a part of your routine post-closing. Instead of following up with your yearly poinsettia plant or pumpkin, you might find a cause in their neighborhood or township that you can support in their name. It’s wise to choose something apolitical, but a cause that’s hyperlocal to their area demonstrates unique thoughtfulness.

There are plenty of ways in which society as a whole can benefit from charitable causes that build goodwill in the world, support those less fortunate, and bolster a positive future. Incorporating charitable giving in your business model is a generous way to make this mentality a central tenet of your team and a defining characteristic for your clients to remember.

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TIFFANY STONE SCOTT

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Top Agent Tiffany Stone is a licensed real estate broker in the states of Florida, Georgia, Alabama, and Louisiana. She leads a very small team, a deliberate choice that allows her to maintain the intimate, personalized service her clients love.

Long a trusted voice and advocate for her clients, Tiffany Stone sets herself apart with her honesty and expert advice.

Tiffany began her real estate journey when she was right out of high school, and has now been in the real estate business for 16 years. “I started out doing some work for a property management 10 Copyright Top Agent Magazine

company,” she recalls, “and it snowballed into my career in real estate. I bought my first home when I was 18, and I just fell in love with the process!”

Tiffany is now a licensed real estate broker in the states of Florida, Georgia, Alabama, and Louisiana. She leads a Top Agent Magazine

very small team, a deliberate choice that allows her to maintain the intimate, personalized service her clients love. “We’ve decided to keep our team very small so we can focus on providing the same level of client service that I personally do,” Tiffany explains.

A solid 25% of Tiffany’s business comes from repeat clients, a sure sign of the strong, trusting relationships she builds. “I have some clients I’ve helped buy and sell three or four times over the

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years,” Tiffany says. “I think that I have a very distinct way of doing business. I always tell my clients that I’ll stress so they don’t have to! If a problem comes up, I try not to call them with anything until I have a solution. But at the same time, I don’t sugarcoat. I’m not the type of agent who’s just going to tell them what they want to hear. I would rather be upfront with them from the start.” It’s this straightforward honesty that leaves clients feeling secure and confident in Tiffany’s advice.

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Tiffany also has a unique advantage that offers her a platform to promote areas and homes. “I am a host on the TV show American Dream TV: Selling Atlanta,” Tiffany explains.

“That’s a fairly recent addition to some of the marketing options we have, and it’s been really helpful.”

When marketing her listings, Tiffany is able to draw on her huge social media following to ensure optimum exposure.

Her team has been awarded one of the top social media real estate accounts in the state of Georgia and nationwide, and she is always making an effort to Copyright Top Agent Magazine 12

stay current on the newest platforms.

Tiffany also has a unique advantage that offers her a platform to promote areas and homes. “I am a host on the TV show American Dream TV: Selling Atlanta,” Tiffany explains. “That’s a fairly recent addition to some of the Top Agent Magazine

marketing options we have, and it’s been really helpful because I can promote these listings and areas on an Emmy-nominated show that’s on public broadcasting and streaming. That really gets sellers’ attention.”

Giving back to her community is important to Tiffany, and she is excited to have recently opened her own nonprofit, the Building Bombshells Foundation, which is aimed at promoting women’s empowerment and helping women and children in need. The foundation’s work includes a scholarship program for women who

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are trying to further their education, as well as entrepreneur mentoring.

In the coming years, Tiffany says, “I want to focus on expanding my team more. I’m very picky about that! It has to be the right people, not just anybody.

I also want to transition more into a broker role and start being able to help other people build their careers, although I don’t think I will ever completely step away from selling. My husband jokes that I will be 95 years old with a walker still showing houses! That’s how much I love it.”

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For more about Tiffany, call (678) 704-5844, email tiffanysrealtor@gmail.com or find her online at tiffanysellsthesouth.com www.

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1 Billion-Plus Reasons Why You Should Be Active on Facebook

By Bubba Mills

The number is staggering and potentially career ending for REALTORS® who ignore it: 1,440,000,000. That’s the total number of monthly active users on the social medium Facebook.

That number alone is reason enough to use it regularly in your real estate business. But Facebook can also help turn you into the expert in your community. Just by sharing knowledge and relevant events about the community you can become the go-to source for all things local – a perfect way to capture the attention of prospective buyers.

Plus, Facebook advertising also gives you tons of targeting layers like age, location, recent life events and interests. Plus, it constantly adds new targeting filters and functions that help you reach even more niche prospects who closely meet your customer criteria. Talk about pinpointing a target audience.

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Another Facebook real estate ad tool is Website Custom Audiences that lets you create Facebook ads that target users who have visited your website.

And several apps specifically for Facebook have emerged. Consider these: • Heyo.com: Helps you host contests, showcase promotions and high-

light special offers.

• Woobox.com: Let’s you easily create quizzes and other fun tools for engaging content.

• Pagemodo.com: Helps you make your Facebook business page both sleek and stylish and tabs allow for easy lead capture.

But the latest offering is just as cool. It’s called Facebook Live and it lets you stream live video on the internet. I recently wrote about Periscope, another live video streaming app, but when you use Facebook Live you’re automatically featured at the top of Facebook users’ news feed. What’s more, statistics show that live video is viewed more than recorded video.

How can REALTORS® use Facebook Live?

Open Houses: Broadcast a walk-through of a new listing

and highlight all the great features.

Webinars: Host live webinars targeted to buyers and sellers. They can sub-

mit questions just like a real-life seminar.

Real Estate Talk Show: Offer the latest news in the industry plus share lo-

cal events and your newest listings. In short, become the Lester Holt or Diane Sawyer of real estate in your town with your own “TV” show!

Facebook offers these tips for using Facebook Live: Promote: Tease upcoming Facebook Live broadcasts for more viewers.

Plan better: Take time to plan what you want to do in the video, whether

it’s a few key talking points or to have a few questions ready ahead of time in a Q&A, in case incoming comments slow down.

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Invest in some equipment: A shaky live stream turns off viewers so con-

sider a tripod or other stabilizing tools, especially if you’re taking viewers on a tour of an open house. And check the shot before going live.

Get the lighting right: If you’re indoors be sure you have plenty of good

lighting and avoid a lot of light directly behind you because it’ll wash you out.

Sound good: A common mistake for beginners is overlooking sound.

Consider an external microphone to make sure your viewers can actually hear you.

And if the live option makes you a little nervous, you can also stream pre-recorded videos. Hey, that has worked like a charm for TV for decades. Some businesses promote their web series to “air” on Facebook Live at a certain time like TV shows. After they are streamed, Facebook Live videos function as normal Facebook videos. Some business owners believe videos may perform better if they begin as live ones.

NowThis, a news company that publishes entirely on social platforms, experimented by streaming a 38-minute compilation of its favorite viral videos via Facebook Live. The stream received over 20,000 views and over 500 comments, according to Facebook’s counters.

Yes, all the new-fangled internet tools, apps and options for REALTORS® can be a bit overwhelming. Just take it one step at a time and you’ll slowly be right there in the business-winning mix. E-mail me today at Article@CorcoranCoaching.com and I’ll send you more free information about how technology can help your real estate business.

Copyright©, Bubba Mills. All rights reserved.

Bubba Mills is the CEO of Corcoran Consulting and Coaching Inc. (www.corcorancoaching.com/programs, 800-957-8353), an international Real Estate, Mortgage, and Small Business coaching company committed to helping clients balance success in business, while building value in life. Bubba Mills is a nationally recognized inspirational and education speaker, coach and mentor to the top real estate agents and mortgage companies. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com.

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24-Hour Touch-ups to Maximize Your List Price Sometimes it takes a full-scale overhaul to prepare a house for market. Other times, only a series of small adjustments are required to make a listing’s true potential shine. Whether you’re gearing up for an open house, assessing a list price, or maximizing a property’s appearance prior to photography—the devil is in the details. However, touch-ups and refreshes don’t have to dominate your schedule or break the bank. For a few ideas of where 20

to begin, consider our handy check-list below for quick home projects that will fortify your bottom line.

Refresh grout for a sparkling clean look.

Perhaps the quickest and most cost-effective way to make bathrooms, kitchens, and other tiled areas shine is to refresh grout until it looks

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good as new. Specialty grout stain removers and cleaners are inexpensive and sold at most home improvement stores. Plus, the project only takes a bit of elbow grease and an hour or two for a major makeover effect. Suddenly, dark, stained, and worn-down bathrooms gleam as if tile has just been placed.

Create mood lighting with soothing bulbs and fixtures.

A warm white light from specially chosen LED bulbs creates a welcoming environment when potential buyers come calling.

If outdated fixtures are bringing down a home’s otherwise modern styling, consider more design-neutral replacements that won’t

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detract from the property’s charms. These are inexpensive but highly noticeable and impactful upgrades that shift a home’s ambiance for the better.

Repaint doors for an updated and inviting entryway.

It may sound like a hassle, but repainting doorways with a fresh coat signals a wellkept property—and that’s before prospective buyers even pass through the threshold. You can also change out generic doorknobs and switch-plates to add an updated flare while on a budget. Color-of-the-year trend choices can turn heads, while neutral paint choices signal less hassle for future homeowners.

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scrub, or with the addition of new shelves or styled bulbs.

Make windows shine— both inside and out.

Cleanliness goes a long way in communicating a well-cared for home in which buyers can imagine themselves. Cleaning the inside and outside of windows not only refreshes a room, but it allows light to infuse the space while appealing to the move-in ready crowd.

Closet spaces are not an afterthought.

Every prospective buyer wants storage options, and you’ve surely led a home tour where guests inspect closets and pantries.

Don’t let these hidden spaces go overlooked. Make sure they’re clean, cleared as much as possible, and you can even touch them up with fresh paint, a good

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Remove tough appliance stains with a bit of elbow grease.

If you’re packaging appliances with the sale of a property, you’ll want to make sure those big-ticket items are also in top shape to showcase their value. Stainless steel polish, electric cooktop polish, and stain removing pads for the kitchen sink can make your appliances look five years younger with nothing more than an hour or two’s labor.

Organize garage and basement areas to maximize storage and hint at bonus space.

It may take a labor of love, but organizing and decluttering these special storage spaces

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can add significant value to a property. Instead of telling prospective buyers how much storage space there is—let these areas speak for themselves by giving them a neutral, airy bout of cleansing. That way, craft-lovers, car aficionados, and buyers with interest in renovating basement areas can witness the potential immediately.

Individually, these bit to-do list items might seem like extra work without the promise of Top Agent Magazine

a major return. But combined? These small tasks go a long way in crafting a home’s image and projecting pure potential. After all, prospective buyers imagine their lives unfolding inside those walls. That’s why cobbling together these small-scale projects can have a big payoff in the end. Not only will a home present itself in a cohesive, attractively-packaged form, but it can also translate to higher interest and a significant pay-off—in more ways than one.

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