MISSOURI 10-4-21

MISSOURI EDITION

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THINGS YOU CAN DO TO ACHIEVE YOUR BIGGEST GOALS

KEEPING IN TOUCH–

HOW TO STAY IN YOUR CLIENTS LIVES FOR THE LONG HAUL

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REASONS WHY

YOUR PROSPECTS AREN'T TURNING INTO CLIENTS

UNTANGLING THE BIDDING WAR: A BUYER'S & SELLER'S PERSPECTIVES

COVER STORY

ERIN HERMAN

MISSOURI EDITION

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ERIN HERMAN

CONTENTS 4) 5 THINGS YOU CAN DO TO ACHIEVE YOUR BIGGEST GOALS 6) 7 REASONS WHY YOUR PROSPECTS AREN'T TURNING INTO CLIENTS

16) KEEPING IN TOUCH– HOW TO STAY IN YOUR CLIENTS LIVES FOR THE LONG HAUL 22) UNTANGLING THE BIDDING WAR: A BUYER'S & SELLER'S PERSPECTIVES

ERIN HERMAN

Phone 310-734-1440 | Fax 310-734-1440

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5 Things You Can Do To Achieve Your Biggest Goals If there’s one thing successful people can agree on, it’s that setting goals has been key to their success. Whether you’re creating a five year plan or just settling on what you want to achieve by the end of the day, setting goals gives you the focus and direction you need to complete even the biggest tasks.

But there is a method to setting them. It’s a process that takes careful thought and con4

sideration up front, which is then combined with the hard work necessary to implement your plan. Luckily there are proven methods to goal setting that you can start using immediately.

1. MAKE YOUR GOALS SPECIFIC

Yes, it’s fun to think in grand terms of where you want to end up in life and in your career, but it’s better to have a specific

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Your plan of action should include daily, weekly, monthly and yearly goals. goal like “Increase my sales by 25%”, than “Get rich.” When a goal is clear and specific, it allows you to figure out the exact steps you need to take to accomplish it. The more general it is, the more paralyzed you might be when it comes to figuring out what to do since, the choices may be overwhelming.

2. MAKE IT ATTAINABLE

Making attainable goals might seem boring, I mean afterall, you want to dream big! But you don’t want to suffer through the disappointment of not reaching your goal, something that may not even be possible at this stage in your life to begin with. One solution to that is creating goal levels. You can have the dream goal, but underneath that you have the realistic goals that are setting up a foundation for achieving the big one.

Things that are attainable still take work and effort to achieve. Those small victories will keep you motivated and encouraged to go for the bigger dreams. And don’t forget, those little goals may have been things you wouldn’t have gotten done if you didn’t set out to achieve them, so be proud!

3. PUT A PLAN OF ACTION IN WRITING

Your plan of action should include daily, weekly, monthly and yearly goals. There is something about seeing things in writing and crossing them off the list that is oddly satisfying.The daily goals are especially Top Agent Magazine

important in regards to building up those good habits. The first few weeks of your plan of action are critical when it comes to your long term success. Reaching a goal is something you are doing every day, all throughout the day, in numerous ways.

Achieving goals is all about creating good new habits.

4. MAKE IT MEASURABLE

This is key, since you definitely want to reward yourself for a job well done, and having a goal that is measurable in some way is a sure way to know. Maybe it’s to increase your lead generation or to cut expenses, whatever the case, have a measurable test you need to meet, as well as a time frame. Then calculate what you have to do to reach that goal. Not only should your goal be specific, but the plan and the measure of success should also be set in stone.

5. ADJUST AS YOU GO

You can have all the best laid plans, and you still might quickly realize that what you thought would help you reach your goal, might not be cutting it. Commitment to reaching your goals is good, but commitment to a plan you know isn’t going to work is not only a waste of time, but will be a devastating blow to your motivation.

Sticking to a plan everyday means adjusting it accordingly.

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7 Reasons Why Your Prospects Aren’t Turning Into Clients Real estate experts suggest prospecting daily so that your sales pipeline never runs dry.

But sometimes all that effort doesn’t translate into results. If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

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1. You’re Too Slow The Association of Real Estate License Law Officials estimates that there are about 2 million active real estate licensees in the United States alone. Of course, not all these individuals are working in the same markets. Nonetheless, that

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If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.

means that realtors face a lot of competition. If you are slow to respond to messages from prospective clients, someone else is sure to beat you to it. As a rule of thumb, it’s best to return calls and emails within 24 hours.

If you’re too busy working with active clients to return the phone calls and emails of prospective clients, consider hiring a real estate assistant who can help take administrative or marketing tasks off your plate.

2. They Don’t Trust You There are different reasons why a client might not trust you, some of which overlap with others on this list. When a client asks you a question, do you answer it directly or do you sidestep it?

Do you have testimonials and reviews from happy clients publicly available? Do you have an online presence? Social proof of your skills and knowledge is key.

3. You Don’t Seem Knowledgeable Enough Is your client constantly coming to you with new listings or marketing ideas rather than the Top Agent Magazine

other way around? Do they mention real estate and finance terms you’ve never heard of or ask you questions you’ve never thought to ask yourself? Every agent starts somewhere, but if this seems to be a pattern, it’s one clients will pick up on too.

Your clients want to know that you will add value to their home buying or selling experience, and part of that value is your expertise and passion.

4. You Have No Web Presence It’s not enough to be on Zillow or have a Facebook page. There are clients who don’t use these platforms, and at the end of the day, you don’t own the content or your access to it. Both platforms could suddenly go out of business and any following you’ve gained could be lost.

It doesn’t cost much to create and maintain a website today. If customization matters little to you, sometimes you can even get up and running for free. At the very least, it’s a good idea to invest in a domain name because yourwebsite. wordpress.com looks a lot less professional than yourwebsite.com.

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5. You Don’t Seem to Care When clients don’t think you care, it usually means they don’t feel like you are listening.

You may have systems, processes, and a proven marketing strategy. You may like to get right down to business, but to your client, this isn’t just business—it’s their life and their family’s livelihood.

When your client tells you what’s important to them, they want to make sure that you really hear them. Make sure your body language conveys that. Slow down. Shut your office door.

Make eye contact, nod your head, and pause before you speak so that they understand that you’ve put thought into your words—that they aren’t simply lines from a script.

6. You Use Too Much Jargon Remember that your clients don’t speak real estate. At most, they might buy or sell a home once every few years. They hired you to be their advocate and may even expect you to be a bit of a teacher too. Use layman’s terms so that your

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client fully understands how the two of you will work together.

7. Your Target Audience Is Everyone Your clients are home buyers and sellers, yes, but who is your ideal client? Some specialties you might consider are college students and recent graduates, working professionals, military families, seniors, CEOs, or other high-profile clients.

As a newer agent, your target audience might be anyone who will hire you, but over time, you might find that you click more with certain clients, that their lifestyle is similar to yours, or that their goals align with your mission. Whatever the reason, marketing your business to this “ideal client” rather than every potential client will make selling your services easier.

Remember: It’s within your power to alleviate your client’s concerns, but understanding why your prospects aren’t turning into clients is a good start.

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ERIN HERMAN

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Top Agent Erin Herman of eXp Realty, serves the greater Springfield area in southwest Missouri with an impressive 60% of business coming from repeat and referral clients.

Erin Herman began her real estate career early in life, with her grandfather. “My grandpa has been my biggest inspiration in life,” Erin recalls. “He was a lifetime Realtor®, and he sold real estate until he was 92 years old. I started working with him in the office when I was 12, and I got my real estate license when 10 Copyright Top Agent Magazine

I was 20.” Since then, Erin says, “It’s been full speed ahead!” For 18 years, Erin has excelled at helping her clients achieve their real estate goals.

With eXp Realty, Erin serves the greater Springfield area in southwest Missouri. An Top Agent Magazine

impressive 60% of her business comes from repeat and referral clients, a feat that speaks to the trust and confidence she inspires. Erin’s tagline is “Your Friend in Real Estate,” and she works hard to live up to that ideal. “I try to be personable and use my intuition with my clients,” she explains. “My strong suit Top Agent Magazine

is finding solutions to my clients’ problems and being proactive with addressing potential concerns before they come up.”

Staying in touch with past clients comes naturally to Erin. In addition to sending out quarterly and monthly newsletters with 11 Copyright Top Agent Magazine

Erin’s tagline is “Your Friend in Real Estate,” and she works hard to live up to that ideal. “I try to be personable and use my intuition with my clients,” she explains. practical information clients can use, Erin is quick to pick up the phone and check in to see how clients are doing. “The root of the word ‘relationship’ is ‘to relate,’” Erin says, “and I try to relate with people as much as possible, open my life to them, and build those relationships.”

When it comes to marketing her listings, Erin’s depth of experience sets her apart. “I was Copyright Top Agent Magazine 12

raised on a large farm. My grandparents even owned the largest chicken farm in Missouri, so I know a thing or two about land,” she says.

She uses online platforms such as Lands of America to syndicate listings and ensure maximum exposure. “Online presence is huge, and so is having great relationships with past clients and brokers. I know which agents in the market specialize in certain types of properties, so I pick up the phone and make sure Top Agent Magazine

they know about my listings, because they will probably be working with a buyer who’s looking for the same type of property.”

Community involvement is important to Erin, and she has done volunteer work for Harmony Top Agent Magazine

House, a shelter for abused women. She is also starting a women’s group on Facebook called Coffee, Mascara and Hustle, which will be focused on empowering women to feel good, be properly educated, and have confidence in themselves.

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As for what’s ahead, Erin says, “I have big plans for the future of my business. eXp has opened the door to a lot of opportunities, and I plan on working to attract other agents to do the same.” Erin is also a huge

advocate of education and empowerment.

“I believe you become more confident and competent in the industry when you’re properly educated and have the tools to better help clients.”

To find out more about Erin Herman, please call 417-459-5116, email Erin.Herman@Exprealty.com or find her online at ErinHerman.Exprealty.com http://

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g n i p e Ke h c u o in T

HOW TO STAY IN YOUR CLIENTS LIVES FOR THE LONG HAUL

One sign of a great real estate agent is there long list of loyal client following. Part of achieving a great referral base is being a great realtor during the transaction. But, that’s only half of the work. To truly be your client’s realtor for life and keep them coming back to you as well as referring others to you, you have to stay in their lives past the transaction. Keeping in touch with your past clients can be one of the most important parts of your business, and one that many realtors tend to push to the wayside.

Do you stay in your client’s lives, or do you disappear? People refer people that they feel they know well and that they trust, people they consider friends. However, earning and keeping your client’s trust involves maintaining a delicate balance with how much you contact them. Experts recommend reaching out to your clients at least quarterly. But, it’s not just about how often you stay in touch. You also need to be mindful about how you are reaching out to them. Here are some tips on how to keep in touch with your clients for the long haul: 16

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INDIVIDUAL PERSONAL CONTACT One of the best ways to keep in touch with your clients is to simply give them a call every once in a while. Follow up and see how your clients are doing. Offer them assistance if they need it. Personalized contact helps to ensure that you remain as important to your clients long after the sale as you were during the transaction. Giving your clients a call on special occasions such as birthdays or holidays also makes for a great personal touch.

Of course, nothing beats face-to-face contact. Stopping by to say hello can be a great way to keep in contact. An even better way to catch up and maintain that friendship is to set up a lunch or coffee date with past clients. Giving individual clients your undivided attention goes a long way towards maintaining that bond you formed during the transaction and earning your client’s loyalty and trust. Interactions like this make a lasting impression on your clients.

Of course, many busy REALTORS® may not have time to follow up with every client oneon-one. A great way to still give personal attention to your clients without meeting each and every one for lunch is to throw a client appreciation party. This allows you to get in some face-to-face time with each client and make sure they all get your undivided attention and quality time to catch up with you, even if it’s only for a short time.

Now, if you have a lot of past clients, this can be difficult to manage during one party. One way to get around the numbers problem is to organize smaller events based on client’s inter-

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ests. Instead of throwing one giant party, host a pool party for the families with kids or a wine and cheese get together for single clients. Hosting special events like these ones goes a long way towards keeping your contact with past clients more personalized and setting you apart from those businesses that simply send them a calendar once a year.

PROVIDE CLIENTS WITH USEFUL NEWS PROVIDE CLIENTS WITH USEFUL NEWS One way that many REALTORS® keep in touch with their clients is by sending them newsletters. This form of contact can be a double-edged sword. You want to make sure you provide them with useful information that reminds them of your value as a real estate professional.

Otherwise your communication will amount to nothing more than spam, and clients will think of you less as a trusted friend and more as a nuisance salesperson.

Clients react much more positively to communication containing information that is pertinent to their lives. Update your clients on what is going on in their local community and housing market. Demonstrate your knowledge about the community and the things that are important to your clients. Include information about local cultural events, community news, housing statistics, information on the mortgage market, home maintenance advice, home design tips, and anything else that your clients will find personally useful. Your clients will always be interested in value.

SEND CLIENTS MEMORABLE AND PERSONAL CARDS Sending your clients cards related to important events in their lives and letting them know that you remember those events and care will go a long way towards building and maintaining a close personal relationship with them. You want to make sure your cards stand out, though. Sending popular holiday cards can be a mistake, as they will most likely get lost amongst all of your clients other holiday cards and will be quickly forgotten. Instead send something more personal such as: HOME ANNIVERSARY CARDS: Send cards to each client on the anniversary of the closing of their home.

CONGRATULATORY CARDS: Remember important events such as wedding anniversaries, graduations, new babies, etc.

SPECIAL BIRTHDAY CARDS: Instead of just sending your typical birthday card, add something special to yours that will stand out. Include a $1 scratch off ticket or a $5 gift certificate to Starbucks. Make sure to include a handwritten personal note.

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GIVE CLIENTS AN UNUSUAL GIFT Make sure the gifts you send your past clients stand out. Send your past clients an odd gift at the beginning of the year or on a holiday. Think outside the box and send things like funny magnets, customized mugs, a personalized piece of wall décor, and other fun and unusual items. A great way to make your gift stand out even more is to include a funny note with it that will catch their attention as well as make them think of you. For example, one cute idea is to send clients a bag of popcorn with the note, “Real estate is popping, give me a call.” You could send a bag of goldfish with a note attached that says, “I’m fishing for your referrals.” Get creative and have a little fun with it, your clients will notice and remember you for it.

TAKE ADVANTAGE OF SOCIAL NETWORKS

Social networking sites make staying in contact with past clients in a more informal and friendly basis much easier. Connect with your past clients on Facebook. This will help you stay up to date on the important things happening in your pact clients’ lives. In return, it provides you a great platform for keeping those past clients up to date with what is going on in your business as well as keep in contact in a more informal manner. Use Facebook to remind past clients to check their basement after a heavy rain or that they can contact you for help during tax time.

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You can even organize your contacts on Facebook into customized lists such as “past clients,” “industry contacts,” etc. This will help you better manage your Facebook contacts.

This will also allow you to view specific news feeds based on these lists and send messages to a particular list of contacts. Don’t forget about the many other social networking sites such as Twitter or LinkedIn either. Utilize this technology to drive personal contact with your clients.

STAY ORGANIZED

No matter how you choose to keep in contact with past clients, make sure to be consistent.

Consistency will help you stay organized and diligent about reaching out to your past clients regularly. A tool used by many real estate professionals to stay organized is a customer relationship management solution. Whether you use one that is online or a computer software program, this will help you stay organized when managing your contacts and allow you to set notifications to alert you when you need to contact certain clients, send out gifts, plan a client appreciation event, and many other things throughout the year.

Staying organized and consistent in your contact with past clients will help you continue to build and manage your referral base, as well as open the door to repeat and referral business.

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Laughs!

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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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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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