LOS ANGELES 7-15-19

LOS ANGELES EDITION

By the Numbers:

Understanding the True Value of Square Footage

5 WAYS TO TRANSFORM

RENTERS INTO OWNERS

IS STARTING A TEAM THE RIGHT SOLUTION FOR YOUR BUSINESS? COVER STORY

RON WYNN, STEVE SAWAII & FIORA ASTON

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LOS ANGELES EDITION

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RON WYNN, STEVE SAWAII & FIORA ASTON

CONTENTS RON WYNN, STEVE SAWAII & FIORA ASTON 4) IS STARTING A TEAM THE RIGHT SOLUTION FOR YOUR BUSINESS? 6) 5 WAYS TO TRANSFORM RENTERS INTO OWNERS

15) 6 WAYS TO GET YOUR CLIENT TO TRUST YOU 18) HOW TO OVERCOME YOUR WORKPLACE FEARS 20) BY THE NUMBERS: UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

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Is Starting a Team the Right Solution for your Business?

You’ve started your own real estate business and after a slow start, you’ve found your footing and business has really taken off. Sounds great, doesn’t it? Until maybe you’re getting more business than you can handle. After all, you don’t want to sacrifice service for more listings. The top-notch level of service you offer is probably what created your boom in 4

business in the first place, so you don’t want to compromise that. But, at the same down, you don’t want to turn down business either. It’s at this point, a lot of Realtors® consider starting a team. But, how do you know if that’s the right call for you? Here are a few questions you might want to ask yourself to help make your decision.

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The top-notch level of service you offer is probably what created your boom in business in the first place, so you don’t want to compromise that.

CAN YOU AFFORD IT? First things first, are you really making enough money to warrant hiring help? One of the key things to think about is your ability to generate leads. Are you so busy with your existing contracts, that you have no spare time to generate more business? Then, it might be time to consider your options. Figure out the time you’ll be afforded to generate more business, how many more transactions that will lead

to, and then see if that pays for the assistant’s wages. That should help you easily see if it’s worth the investment. If it’s on the border, you may still want to go for it if you have a lot of confidence in the market and your ability to bring in business. If you’re not quite there yet though, it might be a good idea to look into a virtual assistant until your business is ready to expand.

ARE YOU READY TO BE A TEAM LEADER? Or in other words, how comfortable are you delegating tasks and responsibilities? For some agents, they need to be actively involved in every step of the process. Being a team leader is not only about being able to delegate, it’s about mentoring and guiding your team as well. Not only do you have to help them serve the team

better, you need to look at yourself honestly too, constantly evaluating what you can do better. It’s also your job to set up systems and operations, that are constantly refined with the feedback of your team members. Clear and constant communication is key with your clients as well as your team.

CAN YOU FIND PEOPLE WHO SHARE YOUR VISION? Of course, the above two points are moot, if you’re unable to find people that you trust and that share your business’ philosophy. Having a supportive and professional team culture is instrumental in a team’s success. These are people you will be working with closely for long hours so you not only need to trust in their expertise and professionalism, you want to find people with a positive attitude. You will all be relying on each other to create seamless transTop Agent Magazine

actions in sometimes stressful circumstances.

Having the right team spirit, so to speak, is what will help your business and team grow.

The ultimate goal of a team is to have thriving careers for everyone on board.

So, if you want to see your business grow maybe a team is right for you. It may even give you a little free time for a personal life. We can all dream, can’t we?

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5 Ways to Transform

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

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

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

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Show renters that purchasing a home isn’t impossible

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

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

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

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Collaborate with mortgage professionals to find the right financing opportunities

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

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

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

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

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

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

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

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Paint the big picture

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

Rents rise, families grow, and retirement looms.

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

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

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

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

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RON WYNN, STEVE SAWAII & FIORA ASTON

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AN INTERVIEW WITH RON WYNN, STEVE SAWAII, AND FIORA ASTON With over a hundred years of combined experience, colleagues Ron Wynn, Steve Sawaii, and Fiora Aston of WSA have long set themselves apart as industry leaders. Together, they blend their respective talents and expertise in service of their clients’ aspirations, maintaining an impeccable track record of success along the way. Now that they’ve staged a pivotal move to Compass, they’re back with Top Agent Magazine to discuss the evolution of their business, professional inspirations, and what clients can expect from their revamped enterprise.

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Q: After many years with the same large national firm, what made you decide to move to Compass?

A: Times have changed. Buyers and sellers have different needs and expectations. We felt Compass is committed to staying ahead of the curve while supporting the WSA brand, which is based on personalized service and neighborhood knowledge. No one is more hands-on, and no one can match the personal attention we bestow on our clients. We’re also Top Agent Magazine

committed and proud to be part of the “coming soon” inventory of homes offered to the Priority Private Client list of Compass agents.

Buyers are attracted to our growing inventory of off-market properties, and we are now able to offer a no-money-down rehab and staging service to clients, which statistically helps garner a sale price that’s 6% to 22% higher than similar homes not prepared for sale.

Q: Is there a difference of company culture at Compass from your prospective?

A: Company culture is paramount. Culture comes from the heartfelt mission statement created by the company’s founders and senior management team. Compass agents are not only among the most knowledgeable and successful, but in fact they prescribe strongly to the principles of sharing and collaboration.

When the culture of a company is focused on generosity and selflessly believing in the Top Agent Magazine

concepts of abundance, a special magic incubates, grows and flows strongly providing the “win-for-all” outcome paramount for success.

Q: What technology do you now offer that might bring more qualified buyers to your listings than previously?

A: Compass is all about simplicity, collaboration, and bringing more qualified buyers to our listings using copyrighted technology to steer and navigate. This imaginative technology uses in-house collaborative data to search buyers who have been actively making offers in the neighborhood, in your price range, or both in the neighborhood and price range. We search for buyers using data that points us to those in particular income brackets, using demographic and financial data. Our “haves and needs” data creates a foundation that is rich and reliable. Agents at Compass and others part of the TAN Network are totally Copyright Top Agent Magazine11

committed to collaboration and sharing of data and client information. Sharing works when agents understand the value of giving, knowing that those who give more, benefit more in the cumulative long run.

Q: Through WSA’s affiliation with Compass, how are you getting more mileage through social media?

A: Using paid ad campaigns, Compass has maximized followers on Instagram, YouTube, and many other social media platforms.

Additionally, our listings are highlighted with a mix of interior images, presentations, and listing videos. Maximized marketing efforts are strategically implemented, navigated, and carefully evaluated for effectiveness by a dedicated team of in-house social media engineers and support staff.

Q: How do you additionally drive traffic to your listings?

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A: Using Compass.com, we’re able to leverage site activity and saved preferences to position listings in front of the right buyers.

For example, a buyer decides they are interested to purchase. They arrive on Compass. com via paid ads on Google, Facebook, social media, press coverage, or organically. On the Compass site, they determine their search criteria by price point and neighborhood.

We track the buyers and their preferences, selecting them as appropriate for your home.

We deploy a presentation for your home and follow up personally to set up one or more showings of your home.

Q: How do you find buyers to purchase a trade-up home without writing a contingency into the purchase?

A: Our sources for bridge loans and equity advances allows us to bring you a clean, easy to close quickly buyer—without the burden of a buyer’s current home falling on your shoulders.

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Q: How do your previous sales to clients from Facebook, Snapchat and Google help us to sell homes quicker and for a better price?

A: With over 100 years of real estate service experience and over 4,000 homes sold, the partners of WSA have a loyal following of many professionals and people from many origins. In recent years, a large number of our loyal buyers provide a flow of referral buyers regularly, many of whom are employees of Google, Facebook and other Silicon Beach tech companies. These are the buyers who can make quick decisions and have the incomes to qualify at today’s price points.

Q: Is your marketing entirely targeted at buyers?

A: Following published statistics that over 74% of all properties are sold by an agent outside the listing agent’s office, we heavily promote our listings to other cooperative agents. We focus Top Agent Magazine

over 40% of our marketing dollars and marketing attention to agents, and not just any agents.

Our agent notification software mines specific agents who have shown and sold similar properties and have clients actively looking for homes that meet the same location and price criteria as the property we’re selling. This exclusive agent notification software is another seller advantage that WSA/Compass offers.

Q: Are you still able to provide personal service and be there for us hands-on?

A: More than ever, our focus is on putting our clients’ needs first. We live by our motto: “For us, it’s all about you!” We have a back office of talented support staff who ensures every detail is accounted for, while our agents are hands-on and clients work directly with us to see results.

All in all, we blend efficiency and professionalism with a personal touch. We have every imaginable tool and technique to provide an outstanding real estate experience for our clients.

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Ron Wynn, Steve Sawaii, and Fiora Aston are well-versed in the greater Los Angeles area’s luxury inventory—from Silicon Beach and Brentwood to Santa Monica, the Pacific Palisades, Century City and everywhere in between. They often preview properties prior to market, passing along insider expertise and opportunities to their clientele. With an in-house design consultant and their in-depth analytics of buying trends, Wynn, Sawaii, and

Aston cover all the bases, from the creative to the data-driven. Likewise, they sell at an average of 96% of list price, with typically fewer than sixty days on the market. Their experience as a team runs the gamut, and they’ve sold over 4,000 properties to the tune of more than $4 billion in real estate business achieved.

Combine that track record with their personalized approach, and clients are treated to a winning combination.

To learn more about Ron Wynn, Steve Sawaii, and Fiora Aston, email fioraaston@gmail.com, steve@stevesawaii.com, or ron@ronwynn.com, visit their website at WSARealEstate.com, or call (310) 480 – 3585 www.

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6 Ways to Get Your Client to Trust You The word “REALTOR®” can leave a sour taste in some people’s mouths. Many of today’s home buyers and sellers grew up during the 2009 recession. They are wary of anything Top Agent Magazine

or anyone who comes off as too salesy, and they want to work with individuals who they can trust.

But how do you prove to someone you’ve likely never met that you can be trusted?

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1

Put Testimonials or Case Studies on Your Website

When something goes wrong, own up to your mistakes. Don’t hide bad news from your clients. Be upfront and responsive.

Testimonials and case studies are social proof that you have both the experience and the skills to do the job your clients are hiring you for. People often leave testimonials when they are either incredibly disappointed or extremely happy with the service they were provided, so they’re a good indication to prospective clients of the treatment they’ll receive.

Case studies, which you can post on your blog or website, have much of the same effect, but even more than testimonials, case studies demonstrate your real estate and finance expertise because they explain how you achieved a specific set of results.

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Be Responsive and Accessible

Can your clients reach you easily? That doesn’t mean you need to be available 24/7, but you should respond to your clients within a few hours of receiving their message. When agents don’t respond to their clients’ calls or emails for days on end or fail to provide them with a direct line of contact, their clients’ experience can quickly become frustrating.

Agents are busy but so are their clients. If you constantly show up late to or reschedule meetings, your clients won’t feel like their time is respected or their business is valued. Make sure you set a realistic schedule for yourself rather than spreading yourself too thin.

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Be Honest and Transparent

Sometimes you don’t have the answer to a client’s question. Be honest about your strengths, weaknesses, and the limits of your knowledge. A good response might be, “I don’t know, but I can find out.” Be transparent with your clients, and they’ll respect you for it.

You should always act in their best interest.

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Go the Extra Mile

If you do the bare minimum, that’s what your clients will remember. Their experience won’t be memorable, and they won’t gush about you in online testimonials or in real life to people they know who could use your services. It’s that simple.

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Put Yourself in Your Client’s Shoes

Clients understand that you need to earn money, but that doesn’t mean they want to feel like they’re just a dollar sign to you. Be empathetic to your client’s concerns, even if you’ve heard it all before. Your clients should know that you are there for them.

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Be Consistent

Being responsive, friendly, and knowledgeable shouldn’t be an act. If you “turn on” your personality for clients and then suddenly become a different person when they leave the room, it’s likely that the cracks in your mask will eventually become apparent.

But “faking it till you make it” is so common it’s become a cliché. When we are starting out, we don’t always have the systems or resources in place to create a smooth client journey, from onboarding to closing, so instead we constantly try to reinvent the wheel. Give yourself time to pause, slow down, and reevaluate your workflow. Creating systems creates

consistency, and those systems can and should be constantly updated.

Developing trust between you and your clients will take time, but doing these things can give you a running start.

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How To Overcome Your Workplace Fears Fear is something that can help protect us from danger, but it is also something that can be a hindrance to us in our lives, especially when it keeps us from potentially thriving and growing as a person. This is especially true in the workplace. Here’ a look at some proven ways to overcome common workplace fears.

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ASSESS THE FEELINGS BEHIND THE FEAR

Really owning the emotions that are putting you in a place of fear, is the first step. By just naming it and then talking it out in your head, what exactly you’re feeling and why, it can help deflate the fear. Think of it as releasing some of the fear into the ether. Yes, you’ll still be nervous about your presentation, but a lot of what was holding you back is gone. You’ll feel lighter, and hopefully have just enough butterflies to make your soar.

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TALK ABOUT YOUR FEARS WITH A TRUSTED CO-WORKER

Nothing can make you feel more isolated than going down the path of “This is something that only happens to me.” Trust me, it doesn’t, and you might be surprised to find out that some people have had it even worse. Talking to someone you trust and admire, hearing their own fear horror stories and how they overcame them, will help normalize what you’re feeling. Releasing yourself from the idea that it’s something about you, will be an enormous relief.

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THINK OF THE WORST CASE SCENARIO

Although it might seem counter-productive, truly assessing what the worse outcome of the situation you’re afraid of serves two purposes. It might lead you to realize the worst case scenario isn’t that bad 18

after all. Of course it could also lead you to a really uncomfortable thought, you could lose your job. As bad as that is, it also gives you an opportunity to start focusing on what really matters, and how you might grow from the experience and possibly end up better off. Countless people in their dream jobs now, were once fired and thought it was the end of the world.

Hopefully, that won’t happen to you, but learning to have confidence in your abilities to always find a way, will be a great tool in overcoming fears.

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COMPARTMENTALIZE

If you’re a super-organized type, you might try actually setting aside time in your day to focus on your fears. It might seem odd, but it will let you NOT focus on your fears during the other hours of your day. Think of it as a task, you aren’t just sitting there worrying, you’re taking in your fears and figuring out ways to overcome them.

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START THINKING OF YOUR FEARS AS OPPORTUNITY FOR GROWTH

Start thinking of fears as challenges. As scary as it might seem to face them, for the most part they are things that can be fixed. A lot of fear is based on inexperience which leads to a lack of confidence.

A common fear is workplace evaluations. Instead of looking at it as hearing everything that is wrong about you, think of it as an opportunity to see where you can improve. Going into it with a positive attitude rather than a defensive posture, will make the whole thing better for both parties.

Overcoming fears is oftentimes about a simple attitude adjustment. Like anything it takes practice, but the results of that practice will lead to a life that you’re able to thrive in both personally and professionally.

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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 20

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

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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