NEW MEXICO 10-11-21

NEW MEXICO EDITION

How to Answer the Inevitable Question:

5 Ways to

TRANSFORM RENTERS INTO OWNERS

WHY SHOULD I CHOOSE YOU? Top Agent Tips and Questions for

FEATURED AGENT

CHOOSING YOUR LISTING AGENT

JONATHAN ORTIZ

COVER STORY

ERICKA MARTINEZ-HATCH

NEW MEXICO EDITION

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ERICKA MARTINEZ-HATCH

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JONATHAN ORTIZ

ERICKA MARTINEZ-HATCH CONTENTS 4) HOW TO ANSWER THE INEVITABLE QUESTION: WHY SHOULD I CHOOSE YOU?

15) BY THE NUMBERS: UNDERSTANDING THE TRUE VALUE OF SQUARE FOOTAGE

6) 5 WAYS TO TRANSFORM RENTERS INTO OWNERS

21) TOP AGENT TIPS AND QUESTIONS FOR CHOOSING YOUR LISTING AGENT

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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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ERICKA MARTINEZ-HATCH

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Affiliated with Coldwell Banker, Top Agent Ericka Martinez-Hatch serves as a trusted guide to buyers and sellers throughout New Mexico and Colorado.

A fierce advocate for her clients, Ericka Martinez-Hatch goes above and beyond to make every real estate transaction a seamless experience. Having worked in sales previously, she understands the importance of customer service and building long-lasting client relationships. Affiliated with Coldwell Banker, Ericka serves as a trusted 10 Copyright Top Agent Magazine

guide to buyers and sellers throughout New Mexico and Colorado.

Known for her meticulous attention to detail and exceptional communication skills, Ericka handles every transaction as if it were her own. “For me, the most important thing in a real estate transaction is open and Top Agent Magazine

honest communication. I think you have to keep your customers informed at all times— whether it’s good or bad news. This is an important moment in their life, so I don’t wait until the next day if I have news or if Top Agent Magazine

I need to call someone back,” she explains.

It’s because of this caring approach that she’s been able to build a strong repeat and referral network of clients that sustains her successful business.

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“I truly love helping buyers and sellers accomplish their real estate dreams. I especially enjoy dealing with new homebuyers and being able to hold their hand through this process and make sure they have all the necessary information to make the best decision.”

A creative thinker, Ericka likes to utilize social media to help market her listings.

Last year she was able to complete 29 transactions despite the Covid-19 pandemic. But for Ericka the focus is not on the number of sales, but rather on the number of lives she gets to change through Copyright Top Agent Magazine 12

her work. “I truly love helping buyers and sellers accomplish their real estate dreams. I especially enjoy dealing with new homebuyers and being able to hold their hand through this process and make sure they have all the necessary information to make the best decision. There is Top Agent Magazine

something unique about being able to hand a client the keys to their very first home.

It’s not a feeling you can experience in any other profession.”

When she’s not busy working, Ericka likes to give back to the community. She is involved with First Tee Four Corners youth development program for kids ages 6 to 18, Top Agent Magazine

which helps teach young people life skills through golf. She is also a member of the Farmington Chamber of Commerce and sits on the board for a ladies charity golf tournament that donates proceeds back to the community.

When she’s not giving back her time, Ericka is an avid golfer. She also owns a livestock Copyright Top Agent Magazine 13

auction with her husband. “It’s located in Kirtland, New Mexico, and we deal with cattle sales and goat sales. Our kids have been exposed to the rodeo lifestyle since they were little, and they love it.”

Ericka’s plan for the future is centered around continuing to grow her business and helping

her clients achieve their real estate goals. “At some point I’d like to have my own brokerage. I want to expand further into Colorado and get more involved up there. My main goal is to keep teaching my buyers and sellers their due diligence in this process. I think it’s important to guide your clients and help them make informed choices.”

To learn more about Ericka Martinez-Hatch call 505–330–9691, email erickanmrealtor@gmail.com, or visit ahomeforyourheart.com www.

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By the Numbers:

Understanding the True Value of Square Footage Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure.

True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of Top Agent Magazine

a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.

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1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus,

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original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.

2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage: n

Called “below grade spaces,” basements and sunrooms beyond a home’s typical

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living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings. n

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Did you know the space inside closets and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.

When recording square footage, ANSI actually suggests performing measurements from a property’s exterior—though this method does not account for the

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thickness of exterior walls, which could skew square footage numbers. n

Just like below grade spaces, a garage, a pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.

3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures

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when it comes to true square footage? If you want to take on the endeavor yourself, here are a few helpful steps to take. n

First, you’ll need a few things to get started, including a tape measure that can measure at least 100 ft., graph paper, and a pencil.

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Next, choose a room to start measuring wall-by-wall. Measure Wall 1, then proceed to assign each square on the gridded paper a corresponding measurement, rounding to the nearest tenth of a foot for the sake of clarity.

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From there, draw out the wall you measured and measure the remaining walls in the

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room. Once you’ve completed the room’s measurements, multiply the room’s length and width to determine its square footage. n

As you go measure throughout the home, using your own system to scale, you will construct a failsafe floorplan.

Mastering your craft is everything, and the real estate industry is no different. Every now and again, it’s worthwhile to update your well of information, take matters into your own hands, and continue to innovate with the industry. While square footage may not seem like the juiciest starting off point for such a venture, never forget: mastery of technical knowledge is a sure sign of expertise.

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JONATHAN ORTIZ Jonathan Ortiz has always valued work that made a tangible impact on his community, and he recognized early on that real estate offered a real chance to make a difference in people’s lives. He got his license when he was just 20 years old.

“My business didn’t take off at first,” Jonathan admits. “I was young and just had a lot of things to learn about the industry and living a balanced life in general. I worked as a full-time firefighter for the city of Santa Fe for five years while I continued to study and think about how I wanted to build my business.”

He began again when his qualifying broker, John Castillo, called on him to assist in closing hundreds of HUD homes. “He was a great mentor,” says Jonathan.

“We closed around 350 transactions a year for 4 years, and I learned a lot about how to talk to people and be a professional in this industry. I admired John’s dedication and work ethic, and wanted to mirror that.”

Nearly 7 years later Jonathan is a model Realtor in his own right with Southwest Elite Real Estate. A Top Producer, and having been named as an Elite 25 Realtor in the city of Albuquerque, his volume has grown every year. These days an impressive 100 percent of his business comes from referrals or repeat clients. “I take a lot of pride in the fact that my business is growing organically and that I’m working with people who sought me out specifically. All of my business comes through word-of-mouth.”

It’s not just his work ethic that keeps clients coming back, but his patience. Jonathan doesn’t set any expectations when he meets with a client. “I don’t care if it takes a week or a year for us to find what they’re looking for. I don’t rush them, and I’m accessible seven days a week at any hour. I’m trying to Top Agent Magazine

build a lifelong relationship with people, and I want what’s best for them.”

He’s always looking out for the best interests of his broader community as well. A descendant of the area’s original settlers, Jonathan was born and raised in the Village of Tijeras, a small town just east of Albuquerque. He sits on the Village’s council, coaches little-league baseball, and participates in various outreach projects every year. “I’m also very in touch with my Hispanic culture and I’ve been working with friends and family to try and preserve some of our rich traditions.”

Jonathan spends his free time with his wife and children (a 3-year old daughter and 5-year old son).

To unwind he enjoys playing volleyball, softball, and basketball, or taking the family for a drive in his vintage 1964 Cadillac.

Jonathan looks forward to many more years of helping clients take that next step forward in their lives.

He’s also very interested in expanding into commercial and new development properties. “I love being a Realtor, and I want to explore every opportunity to grow within the industry.”

If you would like Jonathan’s help buying or selling a home, contact him at 505-363-8451 or email JonathanOrtiz21@gmail.com 19 Copyright Top Agent Magazine

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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: Top Agent Magazine

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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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