NORTHERN CALIFORNIA 9-19-22

NORTHERN CALIFORNIA EDITION

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TIPS TO GET NEW CLIENTS

Keeping in touch –

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

UNTANGLING THE BIDDING WAR:

A BUYER’S & SELLER’S PERSPECTIVES

COVER STORY

DAN DODD

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NORTHERN CALIFORNIA EDITION

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DAN DODD

CONTENTS 4) 5 TIPS TO GET NEW CLIENTS 13) UNTANGLING THE BIDDING WAR: A BUYER’S & SELLER’S PERSPECTIVES

17) KEEPING IN TOUCH – HOW TO STAY IN YOUR CLIENTS’ LIVES FOR THE LONG HAUL 22) 3 WAYS JOINING A PROFESSIONAL ORGANIZATION CAN MAKE YOUR BUSINESS BETTER

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5 Tips to Get New Clients If you’ve been in the industry for a while, you’ve probably built up a healthy percentage of repeat and referral business.

Although it can be tempting to just maintain those relationships rather than generating new business, there’s something to be said for staying on top of 4

your game by never resting on your laurels. Actively pursuing new clients is not only a way to generate more business, but depending on how you do it, it could even lead to a profitable new niche. Here are just a few ways to build up your new client base.

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Become a referral partner with industry peers

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Cold Call Expired and FSBO Listings

Everyone from mortgage lenders, to financial planners, to insurance agents, can be potentially lucrative referral partners for a Realtor®. You may already have great relationships with some that just need to be more formalized. But, you don’t just want to partner with anyone, make sure these are people you also feel completely comfortable referring your clients to - people who share your values and work ethic.

Another avenue to consider is divorce attorneys – yes, you heard that correctly. Helping people go through this difficult period actually requires a very specific skill set.

You need to be able to handle the legal aspects, as well as the emotional ones. There are numerous training courses you can take if you decide to take this route, which could end up being a lucrative and much-needed specialty.

This is a route a lot of agents take when they are just starting out, that usually leads to great success. You probably haven’t cold called since you started out, and this is a great skill to build up again.

It will not only sharpen your sales skills, but could generate a lot more business.

People with For Sale By Owners (FSBOs) and expired listings, are usually very motivated to sell. This is a great chance for you to really hone in on why they need to hire you. Do you offer innovative marketing plans? Access to a large sphere of influence? Expired listing clients are looking for ways to sell a property that seems impossible to move. With FSBOs, you need to show them how you can get them more money in their pocket, even

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with paying you a commission. Pursuing both will really engage your mind to think outside of the box, which will not only get you more business, but make you better at what you do.

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Partner up with a Relocation Company

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Become a Builder’s Realtor® of choice

This is another niche market that you can really capitalize on if you want to pursue a new specialty. But, it is a specialty, so getting educated on the process will help you generate the business you want. It’s a complicated area of real estate, you’ll often

times be helping to facilitate dual transactions, as you try and secure a property at the same time you are helping your relocation client sell their previous home. This specialty is becoming an in-demand skill in areas that have major corporate headquarters.

This can be a real score for any Realtor®.

The competition might be fierce to land a client like this, but there are numerous ways to make yourself stand out from the rest.

Gain certifications and become knowledgeable about the construction process. Be wellversed on what trendy materials, features, and finishes will add value to a property.

Get the builder on board with you by offering to take just a segment of the subdivision then wow them with your marketing skills.

Take on properties they haven’t been able to sell. You can even offer to throw an open

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Create a Website that Offers Real Value to Potential Clients

Perhaps the most useful way of getting contact information for people looking to sell is by adding a home valuation feature to your website. When people are first considering selling their home, finding out how much

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house for them. This is another way to show them the level of service they can expect from you. These clients might be harder to land, but the payoff will be enormous.

it is worth is one of the first questions they want answered. By becoming a resource to potential clients (and current clients!), you just might be the first person that comes to mind when they’re actually looking to sell.

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DAN DODD

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As founder of Inspire Real Estate, Top Agent Dan Dodd leads a team that serves San Francisco, as well as Marin and San Mateo counties.

With a business that is relational and built around providing long-term client care, Dan Dodd forges lasting bonds with his clients.

Having grown up in a real estate family, Dan says, “Real estate was always in my blood.

At first I chose to go into the corporate world instead and climbed the corporate ladder. But around 40 I thought, ‘What am I doing?’ I had always had this dream of doing real estate, so I did some soul searching and decided to 8 Copyright Top Agent Magazine

pursue my passion.” That was in 2004, and Dan hasn’t looked back since. In the years since starting his own real estate business, Dan has cemented a strong referral base and is known as a trusted expert in San Francisco real estate.

As founder of Inspire Real Estate, Dan leads a team that serves San Francisco, as well as Marin and San Mateo counties. Approximately Top Agent Magazine

98% of his business comes from repeat or referral clients, a testament to the quality of care he provides. “My focus is not on advertising to generate business from people I don’t know,” Dan says. “It’s to build relationships and spend a lot of time maintaining and Top Agent Magazine

engaging with my clients.” To that end, Dan regularly holds client appreciation events and parties both small and large, ranging from a pumpkin patch party or a catered barbecue in Golden Gate Park to smaller gatherings at his house or at wineries in Sonoma.

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“I focus on service throughout the entire process from beginning to end. My goal is not just to meet expectations, but to exceed them and win that client over for life.”

Clients keep coming back to work with Dan because of his excellent communication and negotiation skills. “When we’re going through the process, it’s not really about selling somebody a house,” Dan explains. “It’s more about making sure we find the right product for them and they’re comfortable with it and fully understand what they’re buying. I focus on service throughout the entire process from beginning to end. My goal is not just to meet expectations, but to exceed them and win that client over for life.”

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Outside of real estate, Dan is active in supporting his local community. He sits on the board of the National AIDS Memorial and is a big supporter of the San Francisco AIDS Foundation.

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He also supports the AIDS Life Cycle program, a charity bicycle ride that takes place every June from San Francisco to Los Angeles. When he’s not working or giving back, Dan and his Copyright Top Agent Magazine11

husband enjoy trying new restaurants, going to wineries, cycling, hiking, traveling the world, and attending live jazz shows.

Looking toward the future, Dan plans to continue growing his team while maintaining the same high level of quality for his clients. He will also

continue to expand in the Marin market. Above all, he looks forward to continuing to nurture caring relationships with his clients. “My clients become more like friends and family to me, which is such a rewarding way to run a business,” Dan says. “We fit together really well, and that makes it a better experience for everyone.”

To find out more about Dan Dodd, call 415.577.9462, visit homesbyinspire.com www.

or email dan@homesbyinspire.com 12Copyright Top Agent Magazine

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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 14

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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g n i p Kee h c u in To

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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3 Ways Joining a Professional Organization Can

Make Your Business Better Any real estate professional worth his or her salt knows that relationships are everything in this industry. Of course, it’s essential to cultivate connections with your in-office colleagues and your clientele—but there’s even more to be done when it comes to building meaningful professional relationships on a larger scale.

How can you make the most of your sphere of influence? The answer lies in professional organizations.

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These institutions vary in breadth and scope— from the local chamber of commerce and state-level organizations geared toward young professionals, to nationwide groups like the National Association of Realtors. No matter which avenue you pursue, these organizations and the professionals therein can add tremendous value to your business and professional repertoire. Not quite convinced? Consider a few of the benefits below to understand how just how influential a professional organization can be when doing business in the modern marketplace.

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1. Expand your skillset.

It’s hard to argue that continuing education and professional development aren’t worthwhile causes. One of the little-known values of joining a professional organization is that there are countless opportunities to boost your talent through free or subsidized skill-building events, workshops, and speaker series. Seminars, coaching events, opportunities to volunteer, and conferences are just a few more ways that professional organizations put you in the right position to learn from others, or advance your understanding of the industry. In real estate, staying ahead of the curve is crucial to the longevity of your business. By joining a professional organization, you’ll not only have the chance to learn from industry veterans, but to also take advantage of indispensable resources that set you apart from the real estate pack.

2. Simplify your networking experience The obvious benefit of joining a professional organization is the chance to meet and network with fellow agents and industry pros.

But, have you ever considered how commonly networking comes into play in the real world? On the local and state level, the real estate scene isn’t as big as one might imagine.

This means you’ll cross paths with all sorts of agents, lenders, home inspectors, title company representatives, contractors, developers, investors, and more. Positioning yourself within a professional organization not only fortifies your reputation to the outside world and to those in your industry, but it also makes it easier to strike up conversations or navigate deals. How so? A professional organization Top Agent Magazine

creates a baseline of common knowledge and trust when doing business with those inside or aware of your organization. Likewise, when reaching out to an agent or lender who you’re not familiar with, you can mine your professional organization for related contacts that give you a sense of who you’re doing business with or how to make the transition progress smoothly.

3. Utilize a support system While advancing your career is a worthwhile motive when joining a real estate professional organization, also consider the mental benefits of fellowship with industry colleagues and local entrepreneurs. Rather than carting your anxieties home at the end of the day, you can lean on professionals moving through the same ranks. What’s more, you can turn to others in your industry for advice, commiseration with frustrations, or help sourcing a solution for a particular problem they may have experienced and overcome in the past. Even talking shop with likeminded pros can relieve stress and refresh your perspective—perks that are just as valuable as an updated contact sheet.

The old saying stands true: if you want to go fast, go alone; if you want to far, go together.

In that vein, professional organizations can make all the difference when it comes to a career that doesn’t burn out. Try connecting with a professional organization that you find inspiring—whether its mission is focused on volunteer work, industry developments, or peer mentorship. No matter which path you pursue, remember that no man is an island and the benefits of joining a professional organization can transform you and your enterprise for the better.

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