MINNESOTA 10-28-19

MINNESOTA EDITION

MAKE SOCIAL MEDIA MARKETING Your Calling Card

Properties: The Good, The Bad, and The Ugly

COVER STORY

STEPHANIE CHANDLER

5 Ways to

TRANSFORM RENTERS INTO OWNERS

MINNESOTA EDITION

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STEPHANIE STEPHANIE CHANDLER CHANDLER

CONTENTS 4) HOW TO ANSWER THE INEVITABLE QUESTION: WHY SHOULD I CHOOSE YOU? 6) 5 WAYS TO TRANSFORM RENTERS INTO OWNERS

15) MAKE SOCIAL MEDIA MARKETING YOUR CALLING CARD 19) PROPERTIES: THE GOOD, THE BAD, AND THE UGLY

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How to Answer the Inevitable Question:

Why Should I Choose You? In some markets, a real estate agent is competing against thousands of other individuals and teams. There are only so many bells and whistles—so many buzz words you can throw at prospective clients. To a buyer or seller who has interviewed several other agents already, all of it begins to blend together and every realtor sounds as though they’re reading off the same script.

Your clients want to know why they should choose you. They want to know what makes you different. It’s highly likely they’ll even 4

ask you this question directly in your initial interview, but as an agent, you might have a hard time coming up with a response that either you or your clients are truly satisfied with.

To answer your client’s why you must go back to your own why.

WHAT SKILLS DO YOU HAVE THAT OTHERS DON’T? Just because there are other agents in your area doesn’t mean those agents have the

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same skills that you do. We each bring our own backgrounds and experiences to the table. What comes naturally to you? Maybe it’s your negotiating skills or your ability to connect people that sets you apart from the rest.

WHAT PART OF THE BUSINESS DO YOU ENJOY THE MOST? There are skills and then there are passions.

In real estate, there’s so much to enjoy.

There’s the opportunity to match a family with the right home and the sense of safety and comfort that brings their loved ones.

There’s the ability to give someone a sense of financial security by advocating and negotiating on their behalf. And then there’s the houses and neighborhoods themselves— the architecture, history, and community.

WHAT ARE YOUR ACCOMPLISHMENTS? When you look at your client list and the portfolio of work that you’ve built over the years, what are you most proud of? Sure, there are financial rewards, but there are also other accomplishments that your prospective clients will likely be eager to hear about, such as happy client testimonials, a thriving referral business, volunteer and charity work, or even how you lift and support your own team.

Everyone needs money, but those other accomplishments and how you speak about them show your client what kind of person Top Agent Magazine

you are and if that’s the type of person they want to work with.

WHAT ARE YOUR INTERESTS? Real estate might seem like your entire world at times, but you also have a life outside of work. Maybe you like music or traveling or being outdoors. The best part about being a realtor is that there are often ways you can thread these interests into your work, like hosting client functions and events.

WHAT DOES YOUR CLIENT CARE ABOUT THE MOST? Let’s face it, your clients likely care the most about only a few things: saving or making the most money, doing it as soon as possible, and making sure that doing so isn’t too stressful. Your response to your client’s question—why should I choose you?— should address these concerns.

Maybe you excel at creating systems that make the selling process efficient and profitable for your client. Or maybe you excel at providing a personalized experience for homebuyers.

Try out a few responses. You might even start with a template: My [skills or passions] helps me [provide this service] because I can [achieve my client’s goal].

Like most things in life, coming up with a compelling and concise response for why clients should hire you will take time and practice.

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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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STEPHANIE CHANDLER Top Agent Magazine

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STEPHANIE CHANDLER As head of the Stephanie Chandler Group, Stephanie continues to work alongside her mother and leads a group of five. Together, they serve clients across the areas of Edina, Minneapolis, and St. Paul As a third-generation agent, Stephanie Chandler’s introduction to the industry came earlier than for most. Her grandmother was one of the state’s first female agents, 10 Copyright Top Agent Magazine

and her mother has been in business for more than forty years. With a pedigree like that, it was little surprise when Stephanie decided to follow in their footsteps. Today, Top Agent Magazine

twenty years since she got her start, Stephanie is at the head of her own professional legacy, complete with a wise and personal touch.

As head of the Stephanie Chandler Group, Stephanie continues to work alongside her mother and leads a group of five. Together, they serve clients across the areas of Edina, Minneapolis, and St. Paul—though Stephanie is proud to go wherever clients may lead. A majority Top Agent Magazine

of Stephanie’s business is driven by repeat and referral clientele who turn to her for her proven track record, exemplary communication skills, and transparent approach. “I do my best to give people as 11 Copyright Top Agent Magazine

much information as possible so that they can make the best decisions for them and their family,” she says. “I always remind people that there’s no pressure with me. I’ve been doing this for twenty years, and I’ll be doing it twenty years from now. I create a low-stress environment, and I truly want what’s best for my client—no matter what path that takes, I’m here to help.” Likewise, Stephanie’s two decades of experience set her apart as an industry expert, and she has leveraged that distinction in her work with investors and new construction leaders in the area. “Many of the investors I work Copyright Top Agent Magazine 12

with need an area specialist to guide them through the process,” she explains. “I find it rewarding to have that creative outlet to execute the art of the deal and watch others’ investments grow.”

When listing properties, Stephanie leaves no detail unaccounted for. She offers each prospective buyer an immersive presentation by providing staging, photography, and video work for each property. Additional exposure for each property is then reached through wide dissemination across listing platforms and social media outlets, while Top Agent Magazine

“I always remind people that there’s no pressure with me. I’ve been doing this for twenty years, and I’ll be doing it twenty years from now. I create a low-stress environment, and I truly want what’s best for my client—no matter what path that takes, I’m here to help.” open houses draw organic engagement. To date, her team has closed 73 transactions, to the tune of $40-million in volume, and is on track for $100-million in 2019.

children’s schools, in addition to supporting worthy causes. In her free hours, she most enjoys quality time with her family, traveling, entertaining, and practicing yoga.

Beyond the office, Stephanie and her husband give back to her community by participating in their local parish and their

As for the future, Stephanie intends to foster her team’s development in the years to come.“It’s rewarding to build a team and

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help other women build their careers,” she says. “I have a great team of women who work with me, and I’m excited to watch their careers blossom.” Now, with two decades of insight, Stephanie Chandler considers what she enjoys most about her career. “I’m proud to be in an industry that’s constantly

evolving and challenging me,” she reflects.

“No two days are ever the same, and that constantly pushes me to grow. I love being part of such an important chapter in people’s lives and helping them navigate that life transition. At the end of the day, it’s all about the people.”

To learn more about Stephanie Chandler email StephanieChandler@edinarealty.com, visit StephanieChandlerGroup.com, or call (612) 599–7107 www.

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Make Social Media Marketing Your Calling Card These days, it’s no secret that buyers begin their home search online. As the industry continues to take a digital turn, Realtors in the know must learn to utilize a whole new range of tools available to them—and for good reason. Social media is a dynamic hybrid of personal contact and targeted marketing. To make the most of this new medium, agents can’t settle for the occasional post and expect results.

Instead, let’s consider a few techniques that will make your social media presence Top Agent Magazine

interactive, unmissable, and effective in generating business.

Your Profile is a Portal Ideally, you’ll have profiles across Facebook, Instagram, LinkedIn and otherwise—but no matter what portal you’re utilizing, make sure your profile page is up-todate, well-curated, and easily navigated.

Consider your profile a landing page.

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Your photo, location, contact information, homepage, and a brief bio should all be readily visible so that potential clients can get an immediate sense for who you are and what your voice is. If a client wants to connect with you, it should be obvious how to do so. You might also incorporate a few savvier tools that make your profile more engaging—like hashtags. These searchable tags can help you lure potential clientele and give your audience a chance to explore deeper. #DreamHome #JustListed and #HomeInspiration are popular, existing tags to choose from, but you can cultivate your own hashtag by consistently tagging posts, which gives clients an extensive thread to comb through.

Interacting with Your Audience Posting regularly is great way to appear in feeds, but engaging with your audience is just as important—and it helps you reach a new audience in the process. It’s a positive start to like your audience’s posts, pictures, and statuses, but commenting takes your engagement a step further and separates you from typical respondents. It’s also important that you diversify your engagements. In other words, don’t center every communication around your business, propositioning your services, or trying to sell. If applicable, present your value-add, but otherwise steer your engagement towards the personal. Let your clients know that you’re there, you’re human, and 16

ready to work at their pace. Which leads us to our next point...

Blending the Professional with the Personal Engaging with your audience is one thing, but what about generating original content?

How do you strike the right balance between a Call to Action, industry updates, and a personal touch? Think of it this way: any post you create should provide a point of connection for your audience.

Sometimes, you might be sharing a family photo, or commenting on some unifying current event—like the Super Bowl! Other times, you may be sharing a Coming Soon listing, or providing tips to spruce up a home for spring. Regardless, you should focus on quality. Is your copywriting engaging? Does it express your unique voice and personality, while maintaining clarity? Are you giving your audience something to connect with, even if you are sharing property photos or advertising an open house? Instill some fun and some personalization to every piece of content you make, so that clients can picture the voice and person behind the post.

Things are always changing on the social media frontier, but some rules never shift.

Adding clarity, consistency, and personality to your online presence are three surefire ways to grow your business and make social media second nature.

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Properties: The Good, The Bad, And The Ugly

by Denise Lones

I was shocked. There it was. An expensive property near a busy intersection that had stayed on the market for almost a year.

I asked one of my agents, “Why hasn’t this one sold?”

But none of these are reasons to put this property on the back shelf. In fact, there is a market for every market, no matter its location or condition. Too often, we make the mistake of shortchanging sellers who don’t have manicured lawns on cul-de-sacs with perfect houses. We prejudge our own listings to the detriment of the people we’re supposed to be serving.

He said, “Because it’s a dog. Look at it. Nobody wants those turrets that stick out like that. And besides, it’s at that intersection where there’s traffic all day long.”

I’ve been there. I’ve driven to properties hoping for a terraced I couldn’t believe what I was masterpiece with a stunning garden, hearing. This agent had “classified” and then felt that sick dropping this property in his own mind as feeling in the pit of my stomach something that wasn’t worth the when I finally saw it. trouble to market—pretending to service his customer while doing What do most agents do? They’re nothing. True, it wasn’t as beautiful polite, they take the listing, and they or pristine as surrounding neigh- get out of there fast. They rely too borhoods. True, it was in a not-so- much on their own opinion of the prime location. True, it could use property rather than pulling statistics to determine its true market value. some handyman work.

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OR they tell the seller, “This house isn’t going to sell unless you change the carpet, fix the paint, install new roofing, etc.”

Beware! This could lead into a legal nightmare. While on the surface this agent is giving generic advice, what if the seller does everything the agent suggests—and the house still doesn’t sell? That agent might want to call a good lawyer.

If a property needs work, that’s never a reason it won’t sell. There are investors, handypersons, contractors, and do-it-yourselfers who love these properties. Go to your local real estate investment club meeting and you’ll find people searching frantically for such properties. Advertise it as a “Handyman’s Special.” Target these people directly. You may be amazed how many of them are out there.

Here’s the truth: Every property— True, you may have to advise the good, bad, and ugly—will sell if seller they won’t get top-dollar if priced right. It is always about price. a lot of work needs to be done.

There is always someone in the But this is the true issue here—not market ready and willing to buy the work itself. It’s always about right now for the right price. price.

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Let’s talk ugly. A house is in pristine condition, but has a rather peculiar look. Well, I have news for you: Just because you think a house is ugly doesn’t mean there isn’t someone out there who will say, “This is the home I’ve been looking for all my life!”

cannot tell you how many times my jaw dropped when someone told me, “Perfect! We love it!” So, I’ve learned never to judge a house by its paint job, landscaping, or design.

You have a job to do: sell the house at top-market price. You are hired to be the market expert. Sellers don’t Did you know there are people out have the time to do so themselves. there who prefer ugly houses? Yes, That’s why you have a career. ugly houses! Some people don’t care about the outside of a property. It’s always the market that They’re only interested in the determines what sells. No matter the inside, where they know they will shape, size, or condition. And you be spending most of their time. are not in charge of the market, These are people who don’t buy to which as always is based on supply impress others, but rather to please and demand. Whatever is in demand themselves. Thank goodness for will sell, whether it’s a beachfront these people. Without them, we’d mansion or a shack in the woods. Be creative. Use your marketing to have to tear down half the planet! target people who truly want these I’ve seen houses that look like properties. But most importantly, something from a Stephen King price the property correctly for the novel sell overnight while another market. that could be on the cover of Home and Garden languishes on the market Know thy market and thou shalt for weeks. Why? Because somebody know what sells—good, bad, or ugly. wanted that house. Period.

You are not the world’s taste critic. Copyright©, Denise Lones.

You cannot tell what people want. I All rights reserved.

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