NORTHERN CALIFORNIA 7-26-21

NORTHERN CALIFORNIA EDITION

HOW SOFT MONEY LOANS ARE THE FUTURE OF LENDING

Keeping in touch –

COOPERATION, NOT COMPETITION,

How to Stay in Your Clients’ Lives for the Long Haul

CREATES MUTUAL SUCCESS FOR AGENTS

COVER STORY

DEBBIE WONG For The Best Results Select The Best Team

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NORTHERN CALIFORNIA EDITION

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DEBBIE WONG

DEBBIE WONG For The Best Results Select The Best Team

CONTENTS 4) COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS 13) 3 WAYS TO MAKE YOUR WORKSPACE WORK FOR YOU

17) KEEPING IN TOUCH – HOW TO STAY IN YOUR CLIENTS’ LIVES FOR THE LONG HAUL 22) HOW SOFT MONEY LOANS ARE THE FUTURE OF LENDING

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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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DEBBIE WONG For The Best Results Select The Best Team Top Agent Magazine

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“I wear many hats, I’m a broker/owner of Better Homes & Gardens Real Estate, along with two partners, and we have five offices consisting of about 300 associates. ” “I’m broker/owner of Better Homes & Gardens Real Estate, along with two partners, and we have five offices consisting of about 300 associates. We do about $800 million in gross commission income. Currently, I run my more condensed team with my daughter, and we do $35+ millions in production between the two of us. My goal is to expand this team, to keep learning, and keep getting better.”

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Introducing Debbie Wong and her daughter, Marla Wong! These overachieving ladies are happy, kind, and extremely effective REALTORS®.

Serving the San Francisco Bay area, 95% of Debbie’s business consists of repeats and referrals – a testament to her superior service.

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Marla wishes to become an ever-more-effective real estate consultant. “I love being of service to my friends, family, and past and new clients. My current clients are first-time home buyers and investors. I’m also specializing in downsizing and relocation.”

been 31 years, and Debbie is showing no signs of slowing down. In fact, every year, she becomes more and more efficient. Debbie’s impressive production appears effortless.

She projects a calm confidence – she’s a charming pro!

Debbie fell in love with the real estate industry and pursued it as her full-time career (her second choice was in corporate law). It’s now

Marla remembers as a small child traveling to her Kung Fu class in her mom’s minivan and listening to her mom’s real estate tapes. “Real

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Serving the San Francisco Bay area, 95% of Debbie’s business consists of repeats and referrals – a testament to her superior service.

Estate is in my blood. I learned that Real Estate is the IDEAL investment. Real Estate is one of the best ways to gain wealth for yourself and your family. It’s the American Dream! I love helping people realize this dream.”

Knowing that real estate is the largest transaction for her buyers and sellers, Debbie guides them step-by-step, ensuring they are well-informed 10Copyright Top Agent Magazine

and ready to make educated decisions. “I’m really passionate about this business. My life’s work has been all about continuing to grow and becoming excellent.” Whether she is assisting clients in selling their longtime family property, managing an investment property, or helping first-time home buyers, Debbie goes above and beyond to make the process stressfree and smooth.

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Marla is always ready to take the extra steps to do more research and dig deeper. A real estate transaction can get confusing. “I enjoy guiding my clients to clarity.” Her happiness comes in helping her clients achieve their real estate objectives, whether it’s their first home, an investment property, or they are downsizing.

Even years after working with Debbie, clients are still referring her to their friends and family.

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Her clients have spread the word about her style. One client recently wrote, “We highly recommend Debbie Wong and her team at BH&G for your next home purchase and/or sale. Debbie and her team have been amazing at every step! Specifically, she is incredibly professional, kind, empathetic, tenacious, meticulous, and will work hard for you, day and night, to get you the best value. Furthermore, Debbie is a Bay Area native who is plugged Copyright Top Agent Magazine11

into many local organizations, and she brings a tremendous wealth of experience in the local real estate market. Overall, we are indebted to Debbie and her BH&G team, and we highly recommend them for your next home purchase and/or sale!”

Marla says, “Being an early riser has definitely contributed to my success.” By the time most people are working on their first cup of coffee,

Marla has gotten a run in or done yoga, has checked her emails, and has planned her day.

Debbie and Marla love giving back to local neighborhoods. “We’ve helped build community gardens, repaired homes under Habitat for Humanity, and much more.”

Debbie has vast market knowledge and stays on top of real estate law. Marla will work smart for you!

To bring this outstanding team into your wealth building real estate planning and objectives, please call Debbie at (650)619-2790 or Marla at (650)619-6745, or email debbie@debbiewong.com or marla@marlawong.com 12Copyright Top Agent Magazine

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3 Ways to Make Your Workspace Work for You Productivity experts agree that a curated workspace positively impacts productivity and mood, but oftentimes we settle for bland desks and cubicles that lack personalized details or considerations for workflow. Why miss out on the opportunity to optimize your surroundings when it could brighten your day—and boost your performance? Keep in mind some of these tactics to make your workspace your own and reap the benefits along the way.

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DETERMINE YOUR WORKING STYLE AND DECORATE ACCORDINGLY For the creative set, a colorful and art-filled workspace can inspire fresh ideas and reduce stress. Likewise, casual yet aesthetically pleasing furniture, accessories, and décor set an inviting yet functional mood. A pop of color from an office tool—even something as basic as a stapler—can inject a sense of fun and modernism into your daily tasks. For the more analytical, right-brained worker, clean

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lines and zero clutter go a long way. A few well-chosen personal photos in tasteful, unassuming frames can provide a motivating connection to the world beyond the office, while accessories and supplies that are sleek, monochrome, and contemporary inspire a sense of calm efficiency.

BUILD A WORKSPACE WITH YOUR DAILY ROUTINE IN MIND If you find yourself spending hours on the phone per day, or assembling stacks of documents and brochures, or even coming and going from the office with frequency—there are simple adjustments you can make to your workspace that will save you time and energy. If you sit for long hours—responding to e-mails or making calls—try incorporating an ergonomic chair or keyboard wrist-pad to maximize comfort. If you spend a long time assembling presentation materials, then file organizers, trays, and easy-to-pull labels can shave valuable time off your efforts. Lastly, those who step out for frequent meetings can reduce the hassle of being on-the-go by making your space mindfully organized—a coatrack and a dish for your keys by the door, an auto-brew coffeemaker, or an easily edited whiteboard calendar can make jet-setting simpler.

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ADD EASY DETAILS THAT ENRICH YOUR WORKING EXPERIENCE While organization and décor can rally productivity and mood, there are also a few extra details you can introduce to your workspace to improve the quality of your working life.

Healthy, easy to grab-and-go snacks—think nuts, homemade trail mix, and fresh fruit— can keep your energy up without the sugar crush or guilt. If there’s a window nearby, a hard-to-kill plant like a philodendron or a fern not only cleanse the air around you, but also provide a welcome connection to the natural world. Being prepared in a pinch is another great way to make your workspace work for you: a spare tie, a tube of lip balm, hand sanitizer, or a box of Band-Aids can save you a trip to the store when an unexpected need arises.

While we take great pains to make our homes our sanctuaries—complete with the decorations, furniture, and food we favor—we often overlook our work areas, even though we spend a sizable portion of our week sitting at the same desk. Challenge yourself to add a few of these personalizing, productivity-boosting details to your work area and bring the comfort of home to your working life.

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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: Top Agent Magazine

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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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How Soft Money Loans are the Future of Lending ‘Soft Money’ is a relatively new term in the lending industry; an innovative approach to private money lending, a soft money loan combines the benefits of a hard money loan with the greater security that a traditional loan 22

offers. While a soft money loan requires more underwriting, it also offers lower risks and less risk, making it a deeply attractive option to borrowers who find the concept but not the details of a hard money loan appealing.

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Hard Money Loans As you know, a hard money loan is an assetbased loan, based on the Loan to Value (LTV) of the investment property. They require little underwriting, making them a quick loan for borrowers to get approved, are bridge loans, and are generally not based on a borrower’s credit score. This makes them a high-risk loan that is used for real estate investment. The high-risk nature of this type of loan as well as reservations from the 2008 housing market crash, may make some borrowers reluctant to pursue this type of loan. This type of loan also does not increase a borrower’s credit rating, which may also decrease their appeal to borrowers with good credit.

What is Soft Money?

Soft Money is an innovative new approach to private money lending which combines the benefits of both hard money loans and more traditional loans. First, a clarification on the name: the term ‘soft money’ in the world of lending is completely different from ‘soft money’ in the world of political campaigning. In the context of lending, the term ‘soft money’ implies that this type of loan falls somewhere between a hard money loan and a traditional loan.

A soft money loan requires more underwriting than a hard money loan, allowing it to have lower rates and greater security. It is based on both the borrower’s credit score and the property’s LTV, and is always a term loan

rather than a bridge loan. Additionally, this type of mortgage loan program is beneficial for real estate investors with a credit score of 650 or above. The combination of lower rates, higher LTV’s, no tax returns and a longer time frame makes the soft money loan a better fit than a hard money loan for many borrower’s situations, particularly those interested in investing in long term rental properties.

Soft Money Loan rates start at 4.375% and go up to 85% LTV for most investment property types.

Why is Soft Money the Future of Lending?

Calling soft money ‘the new hard money’ may seem trite and contrived, but upon further reflection, soft money truly is the direction for the future of private money lending.

While the hard money loan is still the most popular option for many real estate investment scenarios, the soft money loan will increasingly become the loan used by first-time real estate investors or borrower’s looking to hold a long term investment property, and investors with a high credit score who are looking for higher LTVs and lower interest rates.

Unlike conventional investment property loans that max out at 70% LTV, a NO-DOC Soft Money Loan Program maxes at 85% LTV and with no PMI. This allows the borrower to put less money down on their purchase.

When you’re ready to invest, Stratton Equities can help. We are the nationwide leading direct Hard Money and NON-QM lender, with an impressive array of programs, lowest private money rates (starting at 4.375%), professional team of experienced loan officers, and quick loan approval process.

If you have an investment property and wish to speak with one of our Loan Officers, call Stratton Equities at 800-962-6613, email us, or apply for loan pre-qualification today!

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