MINNESOTA 5-3-21

MINNESOTA EDITION

Top Agent Tips And Questions FOR CHOOSING YOUR LISTING AGENT

4 WAYS

MENTORING UP-AND-COMING EMPLOYEES

MAKES YOU A BETTER AGENT

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WAYS TO TRANSFORM RENTERS INTO OWNERS COVER STORY

MATT HEALY

FEATURED AGENT

MIKE REED How To Incorporate Current Events

To Your Email Blasts And Stay Relevant

MINNESOTA EDITION

MIKE REED Mike Reed serves a unique real estate 9 market in Minnesota, working across the northernmost market in the Lower 48.

Serving a small, recreational community that boasts gorgeous scenery, including Lake of the Woods, Mike loves the intimacy a small town provides. With an onthe-ground expertise, a passion for the area and the people he serves, and a dedication to honest service, Mike has built a thriving business in a beautiful area like no other.

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MIKE REED

he operates his marketing compete with bigger firm net-casting and comprehens social media campaigns. “W advertising directed at fol move to the area,” Mike say is interesting, because we’re grees to the north by Canada, far to the east and west.” Mi complete around two-hundr a year, helping clients at ev reach their goals.

Mike started his journey in the industry in 2006, when he earned his license and began working for a local Committed to the community, Mike do Broker. Soon after, Mike earned his Broker’s license to school scholarship funds and other lo CONTENTS and bought out the business. Mike’s commitment to organizations, from the Fourth of July his clients helped his business thrive, and soon he hospital, to the theater. Involved in the 4)opened 4 WAYS 16) TOPvelopment AGENTofTIPS AND Mike is p new MENTORING locations in Thief River Falls, Roseau, the community, UP-AND-COMING QUESTIONS FORtoCHOOSING and International Falls. Now a Broker and Owner of giving back his hometown. In his free EMPLOYEES MAKES YOU YOUR LISTING AGENT Reed Realty in Baudette, Mike focuses his efforts on to take advantage of the area’s abundant A high BETTER AGENT standards of customer care. Managing an average and recreational opportunities, inclu of twenty agents across multiple locations, Mike fishing, and snow-mobiling.

21)hasHOW TO boating, INCORPORATE able to ensure consistent and high-quality service 6)been 5 WAYS TO TRANSFORM CURRENT EVENTS TO for his clients across locations.

“I’m really big with EMAIL For Mike, real estate has been his lon RENTERS INTO OWNERS YOUR BLASTS AND training my agents on the importance of repeat busiand he continues to find great fulfillmen STAY RELEVANT ness,” Mike says. “I emphasize a high-quality level others. “The first few years were toug of interactions with customers. We are a very small “because I got in just when the market market, and we depend on repeat clients.” kept at it, and I built something I am tru Phone 310-734-1440 | Fax 310-734-1440

Mike’s approach has clearly paid| off: nearly 100% of mag@topagentmagazine.com www.topagentmagazine.com

hisportion business stems from repeat and referrals.

No of this issue may be reproduced in anyclients manner whatsoever without prior consent of the publisher. Top Agent Magazine is“Out published by Feature Publications GA, Inc. Although precautions are taken to ensure the accuracy of published materials, Top here, good news travels, but bad news travels Agent Magazine cannot be held responsible for opinions expressed or facts supplied by its authors. fast,” Mike says. “I focus on being honorable, honTo subscribe or change address, send inquiry to mag@topagentmagazine.com. est, and forthright.

I try to develop a different kind Published in the U.S.

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of relationship with clients. When a client moves to town, I treat them like they’re my new potential best friend, because I’ll probably end up as their neighbor, or seeing them at church or around town. I treat every-

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4 Ways Mentoring Up-and-Coming Employees Makes You a Better Agent In the world of real estate, there are always new agents joining the ranks. Even if you’ve been practicing for just a few short years, you’ve likely learned your fair share of lesson along the way. As an agent, much of your working philosophy is derived from first-hand experience and your work on the ground. This means that new agents are less prepared for the inevitable curveballs of the industry. That’s where you come in.

While mentorship is often pitched as a relationship that solely benefits the mentee, there is actually plenty to be gained from becoming a mentor. After all, personal growth goes hand-in-hand with professional growth, and becoming a mentor asks agents to thought4

fully explore and demonstrate their own ideologies, practices, and rationale. With that in mind, take a look at some of the benefits of mentorship below, and you’ll get a sense of why counseling new agents can be a boon to your own business.

Teaching lessons to others reinforces your own professional values.

Showing the ropes to young agents is a great way to brush-up on your foundational skills.

Verbalizing and demonstrating processes, or walking through the rationale behind negotiation tactics—all cause mentors to think through their established practices and outline in detail why they’ve chosen this route over an

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alternative. This helps older agents fine-tune their routines, while getting back in touch with the critical thinking that went into constructing those habits.

Mentorships allows you to see the big picture.

surely sharpen your ability as the head of a team. What’s more, you’ll be building skills of empathy, understanding, teaching, and constructive criticism. Working on those skills will better your practice and your ability to lead in your office.

After a lengthy industry tenure, it’s not uncommon for battle-worn agents to lose some steam and begin to burn out. By devoting some time to mentoring up-and-coming agents, you’ll get back in touch with your early days, remembering the excitement, the trials, and the hard lessons gleaned. Spending time with the next generation of real estate professionals can reinvigorate your practice, as seeing the business from the eyes of an eager amateur can inject energy into your working life.

You’ll benefit from seeing things from a new perspective.

Just as working with young agents can help you remember your career’s big picture, you may also benefit from working alongside someone with a new perspective. Young agents bring a different set of skills and awareness to their work, and established agents can benefit from a fresh take. If technology isn’t your strong suit, or you’re interested in tapping the Millennial homebuyer market, working with a younger agent is an excellent way to see through fresh eyes.

Mentoring young agents makes you a better leader.

As a mentor, you’ll often direct the flow of your professional relationship—figuring out which issues to tackle, making an agenda, and imparting lessons in a clear way. These are all characteristics of a leader, and acting in a position of authority as mentor can Top Agent Magazine

While some may balk at the time commitment or energy required to take on a mentee or two, you might consider it an act of ongoing education or professional development. While your mentee will undoubtedly benefit from access to your expertise, there’s certainly much to be gained from taking the time to cultivate tomorrow’s real estate leaders.

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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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MATT HEALY Top Agent Magazine

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MATT HEALY Along with co-leader Amanda Colomb, Top Agent Matt Healy runs the Pomerleau Real Estate Team based out of Maple Grove, MN. Matt Healy began his real estate career in 2009, after graduating college. “My college roommate was getting his real estate license while we were still in college,” Matt recalls, “and I thought that was interesting. I was looking to find 10

my own career path at the time, and I decided to take the leap and get my real estate license.” The rest is history, and Matt hasn’t looked back since. For the past 12 years he has been providing compassionate personal service to his clients Top Agent Magazine

and helping them achieve their real estate goals.

that speaks to the trust and confidence Matt and the team inspire.

Along with co-leader Amanda Colomb, Matt runs the Pomerleau Real Estate Team based out of Maple Grove, MN. He and his team serve the greater Minneapolis-St. Paul area. Over a third of the team’s business comes from repeat and referral business, an impressive feat

“This business can take a lot out of you, and I strive to maintain a positive, outgoing, even fun approach,” Matt explains. “I always joke, on a scale of 7 to 10, how happy are you today? I always try to be in that upper echelon of enthusiasm, happiness, and excitement with my clients.

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If I have to help bring them up a little bit, really I enjoy doing that.”

Matt and the team stay in touch with past clients through anniversary calls, monthly newsletters, and client appreciation events throughout the year, including a “Date Night To Go” where clients are given a pizza, movie gift card, and other refreshments, as well as other gatherings that involve both clients and the community at large.

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When it comes to marketing listings, Matt and the team use a variety of methods to ensure maximum exposure. In addition to listing on the MLS and promotion across 2,000 different websites, Matt uses social media, video, 3D Matterport tours, open houses and more to gain attention for listings. “Whatever brings the most eyeballs, the most traction, and the most bodies through a property on every single home, that’s what we do,” Matt says. The results speak for themselves: annually,

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the Pomerleau Real Estate Team are a $100 million real estate team.

Community involvement is important to Matt and the team, and they contribute both financially and through volunteering to a number of charities and organizations. “The people on our team are so important to us that if something is important to someone on our team, we try to make it important to us as a team and engage that,” Matt says. When he is not working or giving back, Matt enjoys spending time with his wife and 4 kids, as well as getting outdoors, running, playing hockey, and getting to the gym.

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“I strive to maintain a positive, outgoing, even fun approach. I always joke, on a scale of 7 to 10, how happy are you today?

I always try to be in that upper echelon of enthusiasm, happiness, and excitement with my clients.”

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In the future, Matt says he and his team plan to continue growing, adding new team members and expanding their volume by 50% in the next couple of years. Matt says his favorite part of real

estate is “bringing happiness” to clients.

“This is one of the biggest financial decisions people make, and we don’t take that lightly. This is a big deal to people, and we want it to be a big deal to us too.”

To find out more about Matt Healy, call 763-232-6415, email matt@pomerleauteam.com or visit pomerleauteam.com

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Laughs!

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Top Agent Tips and Questions for Choosing Your Listing Agent Now that you’ve decided to sell, it’s time to select the professional to help you market your property. Before meeting with agents, however, consider Top Agent Magazine’s tips for preparing yourself. Frist, ask yourself what kind of relationship you’d like to have with your listing agent. Are you seeking a casual, personable relationship and the latest marketing tools or are you interested in a more formal, traditional relationship and approach to marketing techniques? Next, populate your list of agents by attending open houses and asking for recommendations from recent buyers and sellers.

Finally, schedule your meetings at your home, where you’ll be able to gauge the chemistry between you and each agent.

During your meetings, expect any Top Agent to ask you several questions, but also consider discussing the following: 16

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Will you please describe your sales experience and local network?

Ask your Top Agent to describe recent listings and sales of homes comparable to your own. Ask about the sellers’ priorities, the original list price, market time and number of offers. Top Agents will also describe how well they are connected with other REALTORS® in the region as well as their contacts with relocation companies, local corporations and chambers of commerce.

Be sure to ask about each agent’s knowledge of how your market has changed over time and what has influenced change.

You’ll learn a lot by listening to agents’ opinions.

How will you market the property? Each

Top Agent has a unique set of online or local marketing tools at his or her disposal. Some use lead-generation applications and nearly ever luxury agent take advantage of video. Even video marketing tools vary from agent-to-agent, however.

You’ll get to decide if you prefer an agent with higher-end video production and 3D Matterport tours or an agent with more intimate techniques featuring walk-and-talk style video tours.

What factors influence your list-price recommendation? Before an-

swering this question, most Top Agents will have several questions for you, including whether you’re more focused on a faster sale or a higher list price.

They’ll also educate you on how best to balance both market time and list price relative to sales histories your area.

Now that you’ve seen the home, what repairs or improvements do you recommend before listing? You’ll learn a lot by listening to agents’

opinions on your home’s sale potential with or without some improvements.

Most Top Agents will also recommend a full professional inspection prior to listing to avoid surprises during buyer inspection.

How will you help with staging? Some Top Agents will pay for part or

all of the staging costs. At a minimum, however, a Top Agent will have a staging professional or two in their partner network. While they’re at it, they may provide referrals for carpet cleaning, painting, gardening and other minor finishing touches.

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What attributes of the property will you want to highlight? Each Top

Agent will have a somewhat different answer to this question, but that’s a good thing! Even if you have your own ideas about your home’s greatest attributes, you’ll glean insight into the current market by considering different agents’ opinions. In learning their views, you may even change your mind about your home’s most marketable features!

What is your approach to Open Houses? How many agent-only Open

Houses will your Top Agent want to host? How many truly Open Houses?

Some Top Agents may even reveal a “swankier” approach to the Open House – such as an evening cocktail party or by-invitation “open” hours to which buyers visit along with the agent representing them.

Who will be our primary point(s) of contact from your office? This

important question will help you understand the scope of your agent’s practice. You’ll get to see if your agent runs a robust team with many hands on deck or if he or she works by close, one-on-one contact with each client.

Either approach is wonderful; you get to decide what suits you.

Now, let’s list!

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MIKE REED Mike Reed serves a unique real estate market in Minnesota, working across the northernmost market in the Lower 48.

Serving a small, recreational community that boasts gorgeous scenery, including Lake of the Woods, Mike loves the intimacy a small town provides. With an onthe-ground expertise, a passion for the area and the people he serves, and a dedication to honest service, Mike has built a thriving business in a beautiful area like no other.

Mike started his journey in the industry in 2006, when he earned his license and began working for a local Broker. Soon after, Mike earned his Broker’s license and bought out the business. Mike’s commitment to his clients helped his business thrive, and soon he opened new locations in Thief River Falls, Roseau, and International Falls. Now a Broker and Owner of Reed Realty in Baudette, Mike focuses his efforts on high standards of customer care. Managing an average of twenty agents across multiple locations, Mike has been able to ensure consistent and high-quality service for his clients across locations. “I’m really big with training my agents on the importance of repeat business,” Mike says. “I emphasize a high-quality level of interactions with customers. We are a very small market, and we depend on repeat clients.”

Mike’s approach has clearly paid off: nearly 100% of his business stems from repeat clients and referrals.

“Out here, good news travels, but bad news travels fast,” Mike says. “I focus on being honorable, honest, and forthright. I try to develop a different kind of relationship with clients. When a client moves to town, I treat them like they’re my new potential best friend, because I’ll probably end up as their neighbor, or seeing them at church or around town. I treat everybody that way. I get to know my clients, their family, and their kids. Not only does it help my business, but it brings me a lot of joy.”

Though Mike’s business is small-town and home-grown, 20

he operates his marketing strategies to compete with bigger firms, with wide net-casting and comprehensive digital and social media campaigns. “We do targeted advertising directed at folks looking to move to the area,” Mike says. “Our market is interesting, because we’re cut off 180 degrees to the north by Canada, so we reach out far to the east and west.” Mike and his team complete around two-hundred transactions a year, helping clients at every price point reach their goals.

Committed to the community, Mike donates regularly to school scholarship funds and other local events and organizations, from the Fourth of July parade, to the hospital, to the theater. Involved in the economic development of the community, Mike is passionate about giving back to his hometown. In his free time, he loves to take advantage of the area’s abundant natural beauty and recreational opportunities, including hunting, fishing, boating, and snow-mobiling.

For Mike, real estate has been his longtime passion, and he continues to find great fulfillment from helping others. “The first few years were tough,” Mike says, “because I got in just when the market crashed. But I kept at it, and I built something I am truly proud of.”

To find out more about Mike Reed, please call 218-766-4525, email mikereed@reedrealtymn.com or visit reedrealtymn.com Top Agent Magazine

How to Incorporate Current Events to Your Email Blasts and Stay Relevant Email marketing is a cost effective and straightforward method of getting your name and services in front of clients with just a few keystrokes. This tried-and-true approach to digital marketing is a favorite of many, and there are countless ways to customize (and maximize) your email blasts to reap superior results. Despite this, many real estate profesTop Agent Magazine

sionals are content to standardize their email advertising and take a broad, one-size-fits-all approach to capturing interest and leads. While an up-front sales pitch certainly has its uses and benefits, it doesn’t hurt to shake up your routine and refresh your email marketing approach by adding specifics that draw renewed interest from your audience.

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One way to accomplish this is by tying in current events and local happenings to your email blasts. After all, your sphere of influence likely receives countless marketing emails per day. To cut through the noise, sharpen your message with a few specifics that separate your communications from the pack. Not every email should be focused on closing a sale, or else your audience will learn to stop listening.

How do you build your brand, stay top of mind, and keep the lines of communication open with your clientele? Here are a few ideas to get you started.

against an old rival? Do they host themed fan days honoring veterans or catering to families? Tailoring your communications to a local sports franchise’s big news or next event can draw intrigue and provide added value for your clients. Remember, not every communication you send should be focused on pitching and closing a sale, otherwise your audience will tune out your emails altogether. Instead, incorporate fun, community-oriented content that lets readers know you’re a resource for much more than real estate.

Sports news makes a splash

Become a one-stop-shop for holiday fun and seasonal ideas.

People love to rally behind the home team.

Is a regional, local university, or professional sports team in your area headed to the playoffs or the championship? Are they facing off

From Mother’s Day to Thanksgiving, anyone can send an email wishing clients a happy holiday. While the sentiment is a good one, you’ll be one of dozens flooding inboxes with

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your well-wishes. Instead, go beyond the traditional greetings and good tidings and become a hyper-specific resource for clients. Create a gift guide for Mother’s Day, outline family-friendly local events occurring in your area around the holidays, or engage in a promotional partnership with a local business who’s offering a holiday special of their own. In other words, don’t settle for just saying hello during certain times of the year. Instead, up the value of your email blast by offering clients curated information that relates to their interests and area.

Doing so makes your emails a must-read, while demonstrating your ability to go the extra mile.

Pop culture serves as a fun and timely tie-in.

Is a new gaming app sweeping the nation? Have your social media feeds been flooded with the same viral video? Is everyone gossiping about the same TV show premiere? Pop culture tie-ins in your email marketing campaigns can be extremely effective, but in order to for

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them to work, you’ll need to move quickly and keep your focus on the phenomenon, rather than your service pitch. The goal behind pop culture marketing tie-ins is communicating the progressiveness and hip factor of your brand, while capturing timely, topical interest that’s at a fever pitch. Everyone wants to be in on a running joke or trend, and if you leverage trending pop culture moments in your email marketing, you’ll be able to draw views and clicks from a wide audience.

Plenty of services offer standardized email marketing templates and content for today’s real estate professionals, and while the motivation behind marketing is transactional, your communications don’t have to be. The surest way to make an impact in your clients’ inboxes is to add original value and break apart from the pack. Consider updating some of your routines with these current events oriented techniques and your email audience is sure to take a second look.

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