GEORGIA 6-17-19

GEORGIA EDITION

Understanding How HOME

INSPECTIONS ARE NEGOTIATION TOOLS

MILLENNIAL BUYERS:

Where They Are & What to Know

COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS

COVER STORY

JOY BROWN BARNES

GEORGIA EDITION

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JOY BROWN BARNES

CONTENTS 4) BUYERS AND SELLERS: UNDERSTANDING HOW HOME INSPECTIONS ARE NEGOTIATION TOOLS 6) COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS

15) MILLENNIAL BUYERS: WHERE THEY ARE & WHAT TO KNOW 20) SIX POWERFUL PROSPECTING TIPS TO BUILD YOUR BUSINESS

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Buyers and Sellers: Understanding How Home Inspections are Negotiation Tools That stunning home or vacation property may seem perfect. But Top Agents advise anyone buying or selling to prioritize the importance of professional home inspections.

For sellers, many agents recommend preparing for two separate inspections, one for your own information before listing and the second at the buyer’s obligation. For buyers, know that the listing agent is required to disclose certain major issues discovered on professional inspection. But every buyer should also order a thorough home inspection. For both buyers and sellers, inspection provides knowledge and knowledge may translate to power, time saved or money.

THE SELLER’S INSPECTION You’ll save time before closing if you find potential “sticking points” before listing your home. Even those repairs that a seller isn’t required to fix may be worth the upfront investment. Replacing or repairing leaky faucets, wornbut-not-compromised sections of roofing or cosmetic masonry work will go a long way to build trust between you and buyers in your market. In addition, the last thing a seller wants right before closing is a major surprise.

If your inspection uncovers a significant issue requiring disclosure, you’ll have an opportunity either to make repairs or to get professional estimates on cost, which you then can present to buyers either as a credit or reduction in sale price.

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THE BUYER’S INSPECTION Selecting your Inspector: Before hiring an inspector, your agent may ask if the seller conducted an inspection and who conducted it. With this knowledge, you’ll hire a different inspector. Consider some important factors when choosing your home inspector: First, remember the adage that “you get what you pay for.” This property is one of your biggest investments it’s the place you’re going to cherish as your home or vacation destination for years to come. Entrust it to a highly rated and properly licensed inspector with the appropriate professional affiliations and credentials. Your Top Agent is your best referral source, but read online reviews or ask for recommendations to learn more about inspectors and the inspection process.

As a buyer, know that a home inspection report gives you opportunities to request repairs, a lower sale price or credit for work to be done. Talk to your agent about how to make the most of your inspection report. Your agent will likely have contacts with local professionals you can consult with for fair estimates on the cost of the repairs you would like made. In extremely competitive markets however, your negotiating power may be limited to major issues requiring disclosure. Heed the advice of your agent in making necessary requests without risk of losing your dream home.

Be sure to attend the inspection or assign a proxy if you’re out of the area.

Then, go above and beyond and give a luxury property the attention it deserves. Your inspector should help you find concealed issues that can help you negotiate. Honest oversights on the part of the seller, for instance can only be rectified if discovered before closing. For example, clogged exterior drainage inadvertently concealed by hardscape may become a flooding issue down the road. On the flip side, recent partial-room painting may indicate something more than the seller’s beautification efforts.

HOW SERIOUS IS IT? Remember that a home inspection is one of the most useful items in the buyer’s toolkit, but be careful not to get overwhelmed by the results.

Prioritize issues by immediacy (safety) and break down each category by cost to repair to determine how the issues may impact negotiations.

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Cooperation, Not Competition, Creates

Mutual Success for Agents When people get along during a business transaction, everyone comes out happier. And in a service industry like real estate, agents have the power deliver that happiness. By working cooperatively, sharing advice and helping each other help clients, agents not only enhance their own reputations, but that of real estate in general.

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“Bring everyone together” Matt Kobelski, with Credentials Real Estate Group in Massachusetts, points out that providing good service involves more people than the party you’re representing. “I’m not afraid to bring together all the parties in a deal and say, ‘OK, let’s figure out a solution that works best

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Teaming up with an agent from a different brokerage on a transaction is not as uncommon or complicated as it might seem

for everyone,” he explains. “My goal is to avoid being adversarial.” Real estate, he believes, should always be a field in which each person can win. “It’s about working toward a mutual goal, shaking hands, and walking away happy that a seller sold, a buyer bought and everyone got what they wanted.”

But Is it that simple? Most agents have experienced the ways conflicting personalities and tension during a transaction can heat up even the most cordial relations. In reality, however, it’s more productive to let down your guard and work with others as a team than it is to allow stress and competition to preside. South Florida REALTOR® and broker associate, Risë V. Siegrist, for instance, has zero interest in competing with other agents. “It’s more important to be professional and associate with competent, caring people,” she says. By serving others with a cooperative spirit, experienced agents like Risë set an excellent example for emerging real estate stars. Risë hopes to be a model for the next generation of agents, training people who may one day become part of her team.

Risë’s position on cooperation inspires more reasons for nurturing relationships with other agents. Over the decades, many agents change brokerages several times. Who knows if that agent across the table will one day work at the Top Agent Magazine

same brokerage you do? Perhaps you’ll even have an opportunity to partner on an exciting, future transaction. Good relations keep doors open to endless possibilities.

Co-listing cooperation Teaming up with an agent from a different brokerage on a transaction is not as uncommon or complicated as it might seem. In fact, some agents cleverly capitalize on their collective attributes, rather than competing against one another. South Carolina REALTOR® Kimberly Pannit is a perfect example of the universal benefits of co-listings. Although she has always been an independent agent, Kimberly works hard to form professional alliances that give her business the feel of a cooperative network across brokerages.

This cooperative approach may be nontraditional, but it benefits clients in unique ways. By working closely with agents at other brokerages, she shows how agents can improve client service while helping one another.

Kimberly’s cooperative approach began in her own neighborhood, where an agent friend from a different brokerage also lives. “Several years ago, I approached her because both of us were friends with our neighbors. I asked, ‘Why don’t we give our neighbors superior service and

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co-list together? We both love our area and are passionate about our jobs, the location and schools.’” She also didn’t want to make their mutual friends choose between them when they could work together. “I said, ‘Let’s give them amazing service together!’” With their brokers’ permission, two weeks later the agents co-listed their first home and put extra energy into ensuring uninterrupted client service.

Networking and “Co-opertition” When the ultimate goal is to match a client with the perfect home or create optimal terms of sale for a listings, networking with other agents can facilitate that ideal buyer-seller match.

Nashville REALTOR® and broker/owner Lisa Land embraced every opportunity to contribute meaningfully to the real estate industry and to her local market, even before building her own team. “Agents would frequently ask me for help or advice,” she says, noting that she shares, rather than guarding, the methods she uses to get through difficult or confusing transactions. “I was fortunate to have great mentors when I started in real estate, so I’m always

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willing to offer help, even to agents outside of The Luxe Collective.”

Meanwhile, on Cape Cod in Massachusetts, Janet Leigh Scott describes the climate between agents as relaxed and professional. “While the real estate market is highly competitive, we’re truly a ‘co-opertition’ market; agents work together and a have greater sense of community than you might experience in off-island brokerages,” Janet says. “If I have buyer coming into town, I’ll reach out to agents I’ve done transactions with to ask if they have anything coming up that might not be on the market yet.”

Even in hot, competitive L.A. real estate, independent agents such as Andrej Nagy of The Agency RE knows the importance of receiving and providing professional mentorship.

“My relationships with clients are extremely important,” he says. “But my relationships with agents on the other side of a deal are also important.” For REALTORS® like him, working smoothly with other agents is a privilege.

Doing so builds rewarding relationships while ensuring win-win transactions for everyone at the closing table.

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JOY BROWN BARNES

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JOY BROWN BARNES Joy Barnes has a deep claim in Georgia’s Fayette and Coweta Counties, tracing her family tree far back before the founding of Peachtree City. While some real estate professionals boast of years living in a community, Joy can trace her family roots back generations. “My Ancestry in Fayette and Coweta County dates back to pre-Civil War era,” she says. “And I’ve never lived anywhere else.”

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Those roots, combined with her 18 years of experience, make Joy singularly qualified to serve clients in the area. “When a client wants to move to the area I get them in the car and I like to show them more than the houses,” she says. “We have a lot of folks who move here for corporate relocation and you can’t see what the community is on a map. I like to show people what it used to be, what Top Agent Magazine

it is now and what the future growth is going to look like.”

That growth excites Joy, and she loves working with newcomers to Newnan. “I like the fact that people from all over the world are moving here,” she says, even though with growth comes challenges Top Agent Magazine

and can be a sore subject some. “I love being educated on their cultures, and educating them in return on this town and the home buying process.”

“Communication is so important,” Joy continues. “With first time home buyers they depend on you to get them 11 Copyright Top Agent Magazine

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from contract to closing, and they want to understand what’s happening along the way. And communication is key for me - I listen to people, get to know them and understand what it is they want.”

With her deep roots in the community it’s no surprise that Joy gives back. Whether it’s being involved with the Chamber Top Agent Magazine

of Commerce, offering her perspective to local politicians (running for office) giving them marketing ideas, or raising money at her annual Black Dress Newnan Event, Joy makes sure to do her part for her hometown.

When she’s not working or giving back, Joy loves to stay in shape with cardio, Copyright Top Agent Magazine 13

strength training and cycling, and she’s excited about taking advantage of the LINC which is a new local 26-mile trail system under construction. Traveling is a dream of hers, but working solo means she doesn’t have that much time to get away. There will be plenty of time to travel at a later date.

“I don’t have a team because I enjoy the personal approach,” Joy says. “But if I ever want to get that traveling done I may build a team.”

In the meantime Joy has been working with a real estate partner, Jacqui Robertson, and they continue to grow with Dustin Shaw Homes as a big part of their plans for the future. “We have some great new construction projects coming up,” she says. “And in the meantime I’m always stopping and re-evaluating, figuring out how I can work harder and smarter, and how to stay connected to all the exciting changes that are happening around here.”

To find out more about Joy Barnes, visit joybarnes.bhhsgeorgia.com, call 404-328-5699 https://

or email Joy.Barnes@bhhsgeorgia.com

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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 Top Agent Magazine

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 18

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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Six Powerful Prospecting Tips to Build Your Business

By John Boe Why is it that some sales reps consistently earn a six-figure annual income while other reps, putting in the same hours, selling the same products, and trained by the same sales manager struggle each month financially to make ends meet? The answer to this question is painfully simple; the six-figure sales reps understand the importance of business development and never forget to ask for referrals.

Top producing sales reps set high standards for themselves and spend the majority of their time either actively prospecting for new business or closing sales. Successful sales reps set productivity goals, establish priorities, and don’t waste their precious time hanging out in the break room or taking twohour lunch breaks.

Top producers don’t need to be reminded to ask for referrals on a daily basis or follow-up on hot leads, because they understand that prospecting for new business is a necessity and not just an activity. The good news is that prospecting for new business, like any other learned skill set, can be trained and developed into a habit.

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Tip One: Don’t Forget to Ask for Referrals.

When it comes to asking for referrals, timing is everything. Research indicates that the most effective time to ask for referrals is right after you’ve made the sale or provided a valuable service for your customer. Asking for referrals prior to closing the sale is a big mistake and may even jeopardize the sale itself. Once the sale has been completed, your customer will be on an “emotional high” and far more receptive to the idea of providing you referrals. When you ask for referrals, your goal is to get as many names written down as you can. Just keep asking... Who else? Once your advocate has given you all of his or her referrals, then go back over the list of names to get details on each prospect.

Tip Two: Train and Reward Your Advocates.

An advocate is a person who’s willing to go out of his or her way to recommend you to a friend or associate. Most customers are initially reluctant to provide referrals without some basic training and motivation.

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Once you’re given a prospect, Asking for it’s a good idea to take the time to role-play with your advocate referrals prior to to demonstrate how to approach and talk to their referral. A brief closing the sale is a role-playing exercise will build your advocate’s confidence and big mistake and keep them from over-educating may even jeopardize their referrals. During your roleplay session, be sure to prepare the sale itself. your advocate to expect some initial resistance. This training will pay big dividends by making your advocate more effective and less likely to become discouraged when faced with rejection. Always take the time to thank your advocates and give them feedback on the status of their referrals. I recommend that you call them and then follow up by sending a thank you card and or gift.

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Tip Three: Strike While the Iron is HOT. Prospects, like food in your refrigerator, are perishable and therefore need to be contacted quickly. Each day you let slip by without making initial contact with your referral dramatically reduces the probability of you making the sale. Develop the habit of contacting your referrals within two-business days or sooner. Have a system to keep track of your referrals so they don’t end up falling through the cracks. It’s critical to have a computerized client contact management system to record your remarks and track future contacts and appointments. Relying on your memory alone is a very poor business decision that will cost you dearly.

Tip Four: Schedule a Minimum of Two-Hours a Day for Phone Calling.

Make your phone calls in the morning while you and your referrals are both fresh and alert. Treat your prospecting time with the same respect you would give to any other important appointment. This Treat your prospecting is not the time to check your e-mails, play solitaire on the time with the same computer, make personal phone calls or chat with your respect you would give associates.

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to any other important appointment.

Avoid the temptation to try and sell your product or service over the phone. Your objective for every phone call is to create interest, gather information and make an appointment. If your prospect asks you a question, get in the habit of going for an appointment rather than giving a quick response.

Don’t shoot from the hip use a script. It’s important to use a phone script when you contact your prospect so you don’t leave out any key information.

It’s a good idea to role-play your script over the phone with your sales manager until he or she feels you sound confident and professional.

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Tip Five: Qualify Your Prospect at Maximum Range.

Unfortunately, not every prospect will be interested or qualified financially to purchase your products or services. Successful sales reps don’t waste time chasing after low-probability prospects and know when it’s time to cut their losses and move on.

Tip Six: Don’t Take Rejection Personally.

Selling, like baseball, is a numbers game pure and simple. Rejection is to be anticipated as a natural aspect of the qualification process, so don’t take it personally. Learn from rejection by using it as a valuable feedback mechanism. Salespeople who take rejection personally lack perseverance Salespeople and seldom make the sale.

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who take rejection personally lack perseverance and seldom make the sale.

For the majority of salespeople, prospecting for new business is without a doubt the most challenging and stressful aspect of the selling process.

Selling is a contact sport and daily prospecting for new business is the key to every salesperson’s long-term financial success. By integrating these six powerful prospecting tips into your daily business routine, you’ll be able to keep your appointment calendar packed with qualified prospects!

“Sales are contingent upon the attitude of the salesman, not the attitude of the prospect.”

– W. Clement Stone Copyright ©, John Boe. All rights reserved.

John Boe presents a wide variety of motivational and sales-oriented keynotes and seminar programs for sales meetings and conventions. John is a nationally recognized sales trainer and business motivational speaker with an impeccable track record in the meeting industry. To have John speak at your next event, visit www.johnboe.com or call 937-299-9001. Free Newsletter available on website.

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