MARYLAND EDITION 1-27-20

MARYLAND EDITION

UNTANGLING THE BIDDING WAR:

A BUYER’S & SELLER’S PERSPECTIVES

EMOTIONAL FLUENCY : HOW TO COMMUNICATE

6 THINGS YOU NEED TO DO TO BE A GREAT MENTOR

WITH CLIENTS WHEN TENSIONS ARE HIGH

COVER STORY FEATURED AGENT

PEGGY MAGNANELLI

VERONICA SNISCAK

MARYLAND EDITION

Link Lingenfelder is proud to congratulate Mike Tebeau is proud to congratulate

VERONICA SNISCAK Peggy Magnanelli 7

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VERONICA SNISCAK

PEGGY MAGNANELLI

on being featured for the State of Maryland in Top Agent Magazine!

CONTENTS

on being featured for the State of Maryland 4) 6in THINGS YOU NEED 19) EMOTIONAL FLUENCY: Top Agent Magazine!

TO DO TO BE A GREAT HOW TO COMMUNICATE MENTOR

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

WITH CLIENTS WHEN TENSIONS ARE HIGH

MIKE TEBEAU | OWNER | MD LIC. #31227 240-409-3711 | mike@npinspections.com www.

lawsonandbeck.com

443-831-3647 Link.lingenfelder@vonparis.com 8691 Larkin Road, Savage, MD 20763 Phone 310-734-1440 | Fax 310-734-1440

mag@topagentmagazine.com www.topagentmagazine.com ongratulations Veronica! From our Von Paris| family to you!

No portion this pleasure issue may beto reproduced in any manner whatsoever without prior consent of the publisher. Top Agent Much deserved.

It isofour work with you and your clients!

Magazine is published by Feature Publications GA, Inc. Although precautions are taken to ensure the accuracy of published materials, Top Agent Magazine cannot be held responsible for opinions expressed or facts supplied by its authors.

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6 Things You Need to Do to Be a Great Mentor

Everyone reaches the point in their career where they feel they have gained enough experience and wisdom about business and what it takes to succeed, to actually help someone else achieve the same. Although you may have trained or given advice over the years, taking on the official status as a mentor to someone is a whole new ball game.

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Although mentorship is an unpaid endeavor, you’ll be surprised to find out how much you’ll gain from the experience. You’ll also grow as a business person through the process of teaching someone else. It’s also an endeavor that many will pay forward one day, creating a business atmosphere that is based more on mutual success than competition, which is better for everyone.

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Top Agent Magazine

If you were mentored, you may already have an idea of what it entails, and what you liked or didn’t like in your mentor/mentee relationship. Although it is a personal relationship that will need an individual approach, there are certain things that are key when it comes to being a great mentor: 1. Be a good listener

est about your own failures. It can be a huge relief to find out someone they look up to has gone through similar experiences and still managed to come out on top. As we all know, oftentimes the greatest lessons come from failures, which can be times when our character is truly tested. Building trust through mutual respect and honesty will make every aspect of your mentorship more effective.

You’re basically a sounding board who needs to hear your mentee’s ideas, plans and goals in order to advise them. Strong, constant and clear communication is key to any successful mentoring relationship.

Sometimes just letting them talk things out with you, will lead to them to discovering the solution they were looking for.

2. Set expectations and goals at the start When listening to your mentee in your first meeting about the potential relationship, it’s important to establish the parameters of what that relationship will be: What can you give them? What do they need or expect from you? Once the terms are agreed upon, you may want to set specific goals you’ll be working on together so that there’s a defined plan of action, timeline and result you can both expect.

3. Be honest This is important when it comes to offering them constructive criticism or tough love, but more importantly, you need to be honTop Agent Magazine

4. Get them to think, don’t make decisions for them Sometimes being a mentor is being a bit like a psychologist. By asking certain ques-

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tions you can lead your mentee to their own conclusions about their business dilemmas and strategies to reach their goals. Being a mentor is all about guidance. Build confidence by drawing out the best in your mentee rather than just presenting them with solutions.

5. Look at the situation objectively One of the key strengths you offer your mentee is a complete emotional detachment to their business. You have no sentimental attachment to doing things a certain way or working with an incompetent vendor because you ‘go way back’. Your only motive is what’s best for your mentee and their business. Although emotions cans still get in the way sometimes, having a detached perspective on hand to guide you is invaluable.

6. Don’t just offer constructive criticism, be supportive Yes, being a mentor is sometimes advising your mentee that he’s doing something ineffectively, but your main purpose is to alway approach everything like cheerleader.

You need to let them know that through it 6

all, you are a reliable support to them and have a complete belief in their abilities.

Make sure to always praise their accomplishments.

Remember: your job as a mentor is more about guidance than constant feedback.

Your goal is to help someone become the best they can be, not someone who just does everything the way you do it. You’re helping them build confidence in their own intuition, which will hopefully lead to a lifetime of success, and one day, they too might be a valuable resource to another mentee down the road.

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VERONICA SNISCAK Top Agent Magazine

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VERONICA SNISCAK Top Agent Veronica Sniscak leads a team of ten under the banner of VSells & Associates — serving clients from their Howard County office — with a new independent location recently unveiled in the City of Baltimore.

Veronica Sniscak came to real estate by way of her father, who launched a successful bid as an agent as a second career. In high school, she was hired to assist him and cut her teeth in the business, and at age eighteen she earned her license. “The rest is history,” Veronica remembers. In the years since her 8Copyright Top Agent Magazine

1998 debut, she has made a name for herself as an agent known for her integrity, track record, and personal touch.

Today, Veronica heads a team of nine agents and a full-time administrative lead, under the banner of VSells & Associates. Together, Top Agent Magazine

they serve buyers and sellers from their Howard County office, with a new independent location recently unveiled in the City of Baltimore. To date, almost the entirely of Veronica’s business is driven by repeat and referral clientele who trust her industry aptitude, personable demeanor, and proven Top Agent Magazine

results. Likewise, Veronica cites communication as one of the bedrock ideals of her working style. “First and foremost is communication,” she says. “It’s important to be responsive and make sure clients have the information and attention they need, when they need it. This process is different for Copyright Top Agent Magazine9

“I do my best to bring things into perspective for clients and add a sense of security to the process. I get to deliver a lot of really awesome news and sometimes not so awesome news, but no matter what I’m honest, I try to be reasonable, and I offer solutions. everyone, and everyone has different needs.

Clients need to know that they’re supported and informed, and that’s why they refer us to their loved ones—because of how we treated them and keyed in on what they needed.”

Prior to heading her own team, Veronica excelled as the top producer on a team of 150 agents. Over the course of her career, Copyright Top Agent Magazine 10

she’s built priceless experience and learned to approach the ups and downs of transactions with patience and calm. “I do my best to bring things into perspective for clients and add a sense of security to the process,” she says. “I get to deliver a lot of really awesome news and sometimes not so awesome news, but no matter what I’m honest, I try to be reasonable, and I offer solutions. It’s important to explain Top Agent Magazine

options clearly and make sure clients are fully aware of the situation, that way they can make the best decision for them.”

When listing properties, Veronica begins with a consultation to find value-adding opportunities for touch-ups, staging, or other pre-market prep that can underscore a seller’s bottom line.

From there, professional photography, video, Top Agent Magazine

drone footage, and more aid in providing an immersive view of a home to perspective buyers. Then, exposure is secured online through visibility on the leading online listing platforms and social media sites, and open houses. Custom campaigns create buzz in short order.

As for the future, Veronica intends to keep growth going steady as she opens the doors to the team’s new Baltimore office. “Our goal in 2020 is to grow our team, provide an exceptional client experience, and also a place where agents can learn and thrive,” Copyright Top Agent Magazine 11

she says. Now, with more than two decades of experience, Veronica considers what she enjoys most about her work. “I really love helping people through something that can seem overwhelming,” she reflects. “I’m a very

good problem-solver. No matter the situation, I love helping people through those times of transitions and leaving them feeling like it was a positive experience. That’s why I love doing what I do.”

To learn more about Veronica Sniscak email Veronica@VSellsMD.com, call 443–574–1600, or visit VSellsMD.com www.

Copyright Top Agent Magazine 12

Top Agent Magazine

Link Lingenfelder is proud to congratulate

VERONICA SNISCAK

on being featured for the State of Maryland in Top Agent Magazine!

443-831-3647 Link.lingenfelder@vonparis.com 8691 Larkin Road, Savage, MD 20763

Congratulations Veronica! From our Von Paris family to you!

Much deserved. It is our pleasure to work with you and your clients!

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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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Top Agent Magazine

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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PEGGY MAGNANELLI Top Agent Peggy Magnanelli – of RE/MAX Results in Frederick, Maryland – is a consummate real estate professional who is rapidly approaching two decades in the industry. Conscientious, knowledgeable, and possessing an incredibly friendly nature, Peggy is that rare Realtor who truly puts the best interests of her clients before her commission check. The result is a client base who trust her with what is often the biggest financial sale or purchase of their lives, and in turn, scores of referrals, on which more than eighty percent of her business is based.

Peggy began her illustrious real estate career in 2003, following a long stint as a stay at home mom. When she was ready to get back into the workforce, she worked in several other industries before landing a job as an Administrative Assistant in a real estate office, where she learned the business from the ground up, even prior to obtaining her license.

“I think the fact that I set myself up as a resource for them,” says Peggy, when asked how she has managed to inspire such impressive levels of trust and loyalty in her clients, “for anything that has to do with their home. I’ll get two or three calls a week from past clients looking for vendor referrals, and the ones I give out are people I have either worked with or they’ve worked with someone I know. I also am very good at following up with them, and I’ve become friends with many of them. They’re just some of the nicest, most amazing people.

Selling a wide swath of Maryland, including Frederick, Montgomery, Washington and Carroll Counties, Peggy is incredibly proud of her association with RE/MAX Results, and points to her broker for establishing an atmosphere where agents can thrive. “She is the most supportive Broker I have ever met,” says Peggy. “Because of her, everyone in our office is willing to help other agents, and there are no big rivalries.”

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One major factor behind Peggy’s success story would be her comprehensive, cutting-edge and highly strategic marketing. Careful staging – often at her own expense – and professional photography ensure that each property is shown in its best light. Deft and thorough use of the internet and multiple social media platforms make certain that each property is seen by as many potential buyers as possible. The most frequent results are quick sales for top dollar, enhanced by Peggy’s excellent negotiating skills, where she tries to achieve a win – win situation for all parties involved.

When she’s not working, Peggy enjoys spending time with her family, which includes five grandchildren. She also has a servant’s heart, and over the years has been involved with numerous youth-related organizations.

Additionally, and impressively, Peggy became a volunteer in 2001 with the Frederick County Chapter of the American Red Cross, and spent ten years with them as a Disaster Action Team Member. She was also an Armed Forces Emergency Services Caseworker.

Peggy has many plans for her future, including growing her business and possibly finding a partner, which will allow her more time to travel with her husband. Retiring is not one of her goals. Most important, however, is Peggy’s continuing commitment to providing the unparalleled customer service that has become synonymous with her name.

For more about Peggy Magnanelli, please call 240-674-8585 or email PeggyMagnanelli@gmail.com Copyright Top Top Agent Agent Magazine Magazine

Mike Tebeau is proud to congratulate

Peggy Magnanelli

on being featured for the State of Maryland in Top Agent Magazine!

MIKE TEBEAU | OWNER | MD LIC. #31227 240-409-3711 | mike@npinspections.com www.

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npiweb.com/tebeau

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Kevin Carey is proud to congratulate

PEGGY MAGNANELLI

on being featured for the State of Maryland in Top Agent Magazine!

Kevin Carey, CMPS | Branch Manager Cell: 301-370-4169 careylendingteam.com

www.

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Caliber Home Loans and any above mentioned companies are not affiliated. Caliber Home Loans, Inc., 1525 S. Belt Line Rd, Coppell, TX 75019.

NMLS ID#15622 (http://www.nmlsconsumeraccess.org/ EntityDetails.aspx/COMPANY/15622). 1-800-401-6587. Copyright Š 2020. All Rights Reserved.

Equal Housing Lender. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. If you are refinancing your existing loan, your total finance charges may be higher over the life of the loan. Other restrictions and limitations apply.

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Emotional Fluency:

How to Communicate with Clients When Tensions are High Managing emotions, expectations, and personalities are central to a successful real estate career. After all, this is a business based on relationships and interpersonal communication. Likewise, real estate is built on one of life’s central milestones—homeownership. This means that stress, disappointment, excitement, and competition are inherently Top Agent Magazine

involved in the process. As an agent, you take on the real estate world every day, but most of your clients aren’t well-versed in the norms of the industry and are likely riding an emotional roller coaster throughout.

Acknowledging this, how do you steer the ship when emotions and tensions are running high?

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For starters, it’s not always intuitive. Just like you add tools to your arsenal when it comes to marketing, social media, or lead generation, you also have to add emotional tools to your repertoire. Here are a few ways to diffuse tense situations and keep clients on an even keel—even during the ups and downs of the transactional process.

Create realistic expectations from the outset and reinforce them as you go As a seasoned agent, some aspects of the industry may seem run of the mill to you, but may come as a shock to your clients. That’s

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why communicating expectations from the beginning can help create reasonable touchpoints in the minds of your clients. In addition to talking through the steps of the transactional process with your clients, consider writing out a checklist or compiling a buyer’s guide that can serve as a resource for them throughout. Think of it like a security blanket, but one that’s built by facts, figures, and anecdotal experience. If you paint a clear picture of what to expect, clients are less likely to be taken by the surprise and react impulsively as a result. What’s more, reinforce next steps, expectations, and possible outcomes as you go. If your client is left to wonder or guess at what’s ahead or

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Top Agent Magazine

what will happen, they will either envision the worst-case scenario and panic, or they’ll misjudge the next step and be disappointed or left anxious as a result. Minimize surprises by communicating regularly, clearly, and with all options on the table.

When unveiling a problem, come to clients with potential solutions in hand Any agent worth his or her salt knows that bumps in the road are likely to occur along the way. You can’t promise a transaction free of stress or unforeseen issues, but you can minimize the ensuing stress by preparing you client in advance for any potential problems, and by addressing any problems

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clearly and with solutions already in hand.

Clients are likely to become agitated if a problem arises and they can’t understand why or what it means. That’s why slowing it down, talking it through, and offering potential avenues for recourse can quell fears and remind clients why they chose you to facilitate the transactional process. This means you’ll have to vigilant, proactive, and on the ball. Of course, it’s much easier to be an agent when everything is going great and flowing naturally. It’s when things take an unexpected or negative turn that true talent is really tested. Accordingly, show your clients that you are confident and in control by remaining adaptable, communicative, and clear in your problem-solving approach.

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Never underestimate the power of listening As an agent, you are probably well-versed in putting out fires and sourcing solutions. Sometimes, however, clients are really looking to you as a confidante and a listening ear. You’d be surprised how much nervousness you can resolve by simply offering a listening ear and offering reassurance. Sometimes it’s not about providing a band-aid or a practical solution; oftentimes, it’s all about listening. Clients need to feel like they’re being heard, even if you’ve heard it all before. By listening to their fears, acknowledging their perspective, and reiterating their goals—you display your empathy and understanding, which is often just what a client 22

needs to feel better. In other words, you don’t have to break out the graphs and data each time a client airs his or her insecurity. First, slow down, listen, and interact on a personal level. You may stop an emotional upheaval in its tracks simply by putting your listening cap on.

Not all clients are alike. Some will require a little more hand-holding than others, but it’s your job to put yourself in their perspective, recognize the milestone at hand, and managing the personalities you’re working with. The next time you feel frustrated by a client’s unpredictable emotional energy, keep these insights in mind as you diffuse the situation, steer them to a place of comfort, and fortify your interpersonal skillset in the process.

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