MINNESOTA 7-26-21

MINNESOTA EDITION

COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS

KILLING CLIENTS WITH KINDNESS AND VALUE A STEP-BY-STEP GUIDE TO

CONVERTING INTERNET LEADS TO REAL LIFE SALES

COVER STORY

MIKE SMITH

MINNESOTA EDITION

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MIKE SMITH

CONTENTS 4) A STEP-BY-STEP GUIDE TO CONVERTING INTERNET LEADS TO REAL LIFE SALES

15) 3 BEYOND-THE-OFFICE ACTIVITIES TO INSPIRE A CREATIVE BUSINESS BOOM

6) COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS

20) KILLING CLIENTS WITH KINDNESS AND VALUE

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A Step-by-Step Guide to

Converting Internet Leads to Real Life Sales In the era of apps, instantaneous social platforms, and text messaging, it’s little surprise that the modern homebuyer begins his or her search for real estate representation online.

Even if you’ve got a top-notch website or an influential social media presence, how do you connect with web surfers who have yet to commit to the services you offer? Take a look below to learn a few key techniques to bridge the gap between digital interest and real-world sales.

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RESPONSIVENESS IS KEY Like it or not, our digital culture relishes immediacy and instant gratification. With that in mind, be sure to stay on top of online interest forms, e-mails, or newsletter signups. Don’t let an online lead go to waste by taking too long to engage and follow-up.

Things move fast, and it’s easy for potential clientele to forget which websites they’ve visited. Even if your lead isn’t ready to commit then and there, you demonstrate your

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Mastering the fundamentals of digital communication is the first step to converting digital interest into concrete business. accessibility and attentiveness by following up swiftly—a characteristic anyone would seek in an agent or lender.

ENGAGE WITH OPEN-ENDED CONVERSATION When online back-and-forth goes stale, communication drops off quickly. If you’re following up via e-mail, social media, or text, be sure to keep topics focused squarely on the potential client. Ask open-ended questions to give your lead the opportunity to loosen up and engage on a personal level. There’s no better way to cement a digital lead than to take a pointed interest in the specifics of their situation. Doing so transforms the impersonal invisibility of the internet into a true connection.

GIVE ADDED VALUE Plenty of businesses send impersonal, automated messages in response to an online inquiry, but establishing a true connection may mean providing your lead with something of value. Perhaps you’re forwarding a property for sale that fits the interests of your lead, or a relevant article, or maybe you take the time to send a personal message—demonstrable value and a personal touch separate your follow-up response from spam. Other ideas to consider when Top Agent Magazine

adding value to your follow-up technique: incorporate area promotions and access to local events, make a date for coffee, or offer a brief consultation free of charge to make the first move.

DON’T STOP MAKING CONTACT If you don’t connect with your internet lead right off the bat—don’t be discouraged. It often takes multiple tries before a follow-up interaction sticks. Folks are busy and frequently flooded with e-mail blasts and junk mail. A lead may not engage without a little prodding that shows you’re committed to their business. Remember: it’s the squeaky wheel that gets the grease.

Digital leads don’t have to be difficult to capture. The internet plays a powerful role in funneling modern clientele your way, but in order to take full advantage of the web’s reach, you’ll need to tailor your follow-up technique. Mastering the fundamentals of digital communication is the first step to converting digital interest into concrete business. Keep these tips top-of-mind as you build your online presence and mine the vast world wide web for an endless wealth of clientele. Earning a command of digital lead conversion is the surest way to bolster your business in the ever-evolving digital era.

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Cooperation, Not Competition, Creates

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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MIKE SMITH

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Top Agent Mike Smith and team of twenty of Anderson Realty in Minneapolis serve clients in Minnesota and Wisconsin.

For Mike, real estate isn’t just a career, it’s a to take something that’s been neglected and calling to continue a family legacy. Mike grew give it new life.” up watching his grandmother, Sylvia Anderson, help everyone he knew Mike became a residential real estate in his childhood buy and sell homes appraiser while buying and fixing through her brokerage. He began houses throughout his twenties. He working for her at fifteen, helping to cofounded a remodeling company restore an old house. “I caught the bug focused on period design and renofor real estate at that moment,” Mike vation, growing his reputation as an remembers. “Realizing how great it is Sylvia Anderson old-homes expert. He and his team 10 Copyright Top Agent Magazine

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opened a restaurant, a retail store and continue to buy, fix and sell homes. Today Mike focuses on real estate sales and mentoring agents, as the broker and owner of Anderson Realty in Minneapolis where he carries the torch of what his grandmother started in 1958.

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“She continues to be my inspiration and my guiding light,” he says. “I try to acknowledge and care for this great privilege she gave me. It wasn’t easy for Silvia, as a woman in the midcentury years, to go out into the world and say, ‘I’m a broker and people work for me.’”

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“Relationships are more important than transactions,” Mike says.

“I don’t sell things to my clients; I help them make good decisions.”

Mike has since grown Anderson Realty into a twenty-person team serving Minnesota and Wisconsin. Over half of Mike’s business is derived from repeat and referral clients. He strives to build trust and an authentic connection with each client he helps to navigate the home-buying process.

“Relationships are more important than transactions,” he says. “I don’t sell things to my clients; I help them make good decisions.”

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“When I’ve helped someone sell a home that they love, then helped them find a new one they’ll love as well; they’ve put their whole world in my hands,” Mike adds. “Being at a point now where I feel very confident to do that well for people is so rewarding.”

A well-known entrepreneur in the Twin-Cities community, Mike connects regularly with past clients through texts, Instagram, and annual parties. “Most clients really become my friends.”

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When it comes to marketing, Mike and his team employ a hybrid of new-and-old school methods, mailing flyers locally, while harnessing a robust social media presence to put Anderson Realty at a buyer’s fingertips.

Listings proliferate across all major realty platforms, while Mike utilizes reverse prospecting to match listings to local buyers’ agents with whom he has formed trusting professional relationships over the years.

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Each property is thoroughly prepared and showcased with professional photography before listing. Video-tours, in which Mike conducts a walkthrough, give a potential buyer not only a comprehensive view of the home, but a sense of Mike’s passion for the industry. Last year, Mike and his small team closed $40 million in transactions and are on track to surpass that benchmark in 2021. In 2020, Anderson Copyright Top Agent Magazine 13

Realty closed $64 million and expect to exceed past sales this year.

foster a vibrant cultural hub and provide opportunities for local creatives.

As a REALTOR® who cares about his community, Mike has leveraged his entrepreneurial success to support other small businesses in his neighborhood. Through developing and restoring buildings on his office’s street, Mike helps

When he’s not working, Mike enjoys restorative retreats to his family lake cabin. But for Mike, the work-life distinction is mute. “Real estate is who I am, not even what I do,” he concludes.

“It’s integrated into my life. It’s my calling.”

Find out more at andersonrealtymn.com.

Connect with Mike via phone at 651-324-6211 and via email at mikesmithrealty@gmail.com www.

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3 Beyond-the-Office Activities to Inspire a Creative Business Boom Maintaining motivation year-round is a challenge, especially for those who are several years into a demanding real estate career. It’s easy to burn out, get stuck in a rut, or cycle blindly through a well-worn routine. But those that leave an impact on their industry understand that creativity holds the key to innovation and longevity. To stay ahead of Top Agent Magazine

the curve and build your brand, you’ve got to take the time to breathe new life into your practice and see things from a new angle. But where to begin?

To invite change, you’ve got to look outside the box—or in this case, beyond the office. If you’re in need of a professional creative make-

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To stay ahead of the curve and build your brand, you’ve got to take the time to breathe new life into your practice and see things from a new angle. over, or at least want to experience a burst of inventive energy, consider some of the activities below. You may just shake up your routine, bend your brain in new ways, and inject some inspiration into your professional path.

Expand your mind through meditation.

You’ve likely heard all about the supposed powers of meditation, and perhaps you’ve long considered it an over-hyped New Age invention. But did you know that some of the foremost entrepreneurs of our era practice this cost-free, mentally restorative routine? From Oprah Winfrey to Steve Jobs, practitioners of meditation cite its stress-relieving principles, in addition to improvements in concentration, energy, self-awareness, and overall health.

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Even mainstream medicine is beginning to understand the preventative and restorative health benefits that meditation affords. As professional fields go, the mortgage and real estate industries require their fair share of emotional labor—you’re tasked with guiding clients through the investment of a lifetime.

Meditation promotes peace and perspective, while reducing stress, adding a new level of self-awareness, and helping you mentally declutter. When it comes down to it, it only makes sense that taking time to go quiet and center your mind helps professionals find wherewithal amidst a hectic industry. Next time you’re feeling drained, out of ideas, or at your wit’s end—consider just fifteen minutes of meditation to get you started. Like most things, it takes some practice. But, if you commit the time, you’ll be thanking yourself later.

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Learn something new.

If you’re facing burnout, then adding a new responsibility to your plate may seem like the least appetizing self-help solution there is.

However, learning a new skill can reinvigorate your understanding of familiar tasks and dilemmas. Plus, learning a new skill doesn’t have to mean formal classes or time-draining homework. Select something that can even kill two birds with one stone. Want to let off some steam, too? Try a kickboxing class that meets just once-a-week. You’ll have something new to look forward to, meet new people, challenge yourself, and earn some feel-good endorphins, Top Agent Magazine

too. Want to cut loose and have some fun? Join a board game meet-up group, take a cooking class, or try rock-climbing for the first time. A stimulating new activity will light up long-dormant parts of your brain, and your clients and colleagues will surely notice the influx of energy to your outlook. Still don’t think you have enough time to add something new to the mix? Blend your morning commute with an audio language learning service. The point is to shake-up your habits and introduce a new challenge that’s unrelated to work. Doing so can make you look at things in a new light and boost your mood along the way.

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See new sights.

If you can, there’s no better way to break from routine than to physically separate yourself from your surroundings. There’s nothing more inspiring than traveling to new destinations, experiencing new cultures, and getting a sense of the world’s true vastness. If a trip abroad isn’t in the cards, don’t fret. There are bound to be plenty of places relatively close by that you’ve never seen. And these trips don’t have to break the bank, either. Devote just one or two days to visiting a place you’ve never gone before, like a state park, protected forest, or a small seaside village. Perhaps you’re only a few hours from a National Park you’ve been meaning to visit but have never made time for. Or, there’s a lively city one state over that you’ve always wanted to try. Whatever the destination, near or far, you’ll refresh

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your perspective entirely when removed from all your usual routines. New restaurants, traffic patterns, storefronts, weather—whatever the change may be, you’ll be experiencing everything brand new all around you. Taking the time for trips like these isn’t easy. In fact, making yourself devote those free days may be a difficult task itself. But it’s the most direct way to get a breath of truly fresh air, and when you return home you’ll be able to assess familiar surroundings in a totally new light.

However you decide to add creativity to your professional life, don’t wait. Once you take the plunge, you’ll be regretting you hadn’t done it sooner. After all, the key to longevity is regular maintenance, so do your part and break the mold today.

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Killing Clients with Kindness and Value

By Walter Sanford

Sometimes, we need to “kill” our clients with kindness and offer value. I know it goes against everything in our nature to turn the other cheek when they are being mean.

Recently, a coaching client had some challenges with a particular client, and I’m sure you have also worked with the kind of client who discourages you so much that you just want to hit the delete button!

How about offering a response that increases your fame and makes the client always wonder what they may be missing? They might not list with you, but they will never forget you.

Included in the balance of this article are the email from the client, the request for help from my coaching client, and then my suggested response.

Email from the Potential Client: Sorry, I have been really busy. Let me tell you where I’m at with everything. You may or may not be interested.

I am definitely putting the house on the market. The house has been rented for the last 5 years with the same family. They originally signed a rent to own lease. Three years ago, they decided they didn’t want to buy it.

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Anyway, I recently informed them that I’m going to put the house on the market. Now, they are reconsidering buying the house. I don’t think they will buy the house, but I guess you never know. If they do buy the house, it would be for sale by owner. I will not let them drag their feet.

We happen to know a lot of REALTORS® in (area). Some are pretty good friends and with that comes opportunities at rates way under the norm. One of them did sell our last house quickly but circumstances have changed. I know you are a very good REALTOR®, because I have heard other REALTORS® talk about you.

You may not be interested at this point anymore. If you are still interested, let me know what your best rate is. Let me know if you are okay with the current tenants on a “for sale by owner” agreement, if that happens.

I would want a short-term agreement. The current rent is higher than my mortgage payment so I’m okay if they don’t buy and I’m not forced to sell at a low price. However, I want to sell ASAP. I’m wanting to purchase another property so I’m not going to overprice the house and I will negotiate.

Email from Coaching Client to Me: Walter, this guy is a college basketball coach. I want to help him, but I need to have a chance to run a successful business, too! How do I answer this?

Email from Me to Coaching Client (to share with potential client): Thank you so much for the nice words. It is very exciting to hear that our hard work is creating some buzz. I think we can accommodate you and exceed your expectations: Top Agent Magazine

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1. We believe that we exceed client expectations more often than most agents, because we spend the time to understand what the client needs.

Then we develop a customized program to meet and exceed that goal.

We would love to help you in accomplishing your real estate needs.

2. We would be happy to exclude the current residents from the listing agreement for 30 days. This would help in motivating the current residents to buy in that they can see the price discounted by the commission, if they commit to buy within the 30 day period. We would like to offer you our closing service that handles everything for a flat fee of $4,000. This handles the contract phase, aligning the team of affiliates, and the closing. This, of course, is at your option.

3..Our commissions are normal for our market, but we save you money over any commission discounter. Our specialty is increasing your net proceeds. We do this by bringing you more buyers with more effective marketing, better negotiating, better systems for handling inspections, better pre-approval tools for your buyer, better contracts, and less post-seller litigation from better contracts. Commission discounts usually cost you money because of the agent’s lack of emphasis on your net proceeds check. It is like a basketball player who is playing with no heart, only for the scholarship.

4. Our rate is retail 6%. This may eliminate us, but that would be a shortsided conclusion. Here are 5 of the ways we can beat any commission discount: A. We beat the average List to sell ratio in (area) by a larger margin than any discount.

B. We beat the days on market, which affects your carrying costs and lost opportunity costs on your equity.

C. We have a low litigation rate as compared to national standards.

D. We can market your home a little over retail due to our marketing.

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D. We urge a pre-inspection plan to get rid of the little and big problems before a buyer is involved and wants everything built new.

5. Our agreements are 6 months, but that is not what sells properties.

Marketing and price sell property. If we are wrong about those two items, we will adjust every week based upon showings and consultations with you.

6. I would also like to advise you on a misconception. Rental costs average about 35% of market rent in our area. Add in lost opportunity costs on your equity that is not doing anything at this point. I can show you how your current position is losing you money every month.

I think our next step is a presentation of the tools we bring to achieve your goals. Listing with friends is loyal, but is it the best business decision?

Do they have the tools and will you hold their feet to the fire when the results are not what you need? (Client’s name), you know the difference superstars make on a team. Let’s go for the win.

It’s not so much whether my coaching client obtained the listing, but he needed to stand up for a profitable, long term business. Never sell yourself short to get business. You will never be happy.

In these situations, I cannot guarantee an outcome, but I can guarantee the client will never forget you. You are planting seeds of discontentment with the small amount of money saved in a commission compared to not achieving their goal. Whether he/she admits it or not, he/she will have respect for you.

Do more lead generation so you won’t have to work so hard on leads like these.

Copyright©, Walter Sanford. All rights reserved.

Walter Sanford has been designing and implementing real estate systems for 30 years.

One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

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