PENNSYLVANIA 2-25-19

PENNSYLVANIA EDITION

How to Recognize TRUE LUXURY PROPERTIES Embracing Smart Homes: Does New Technology Really Increase Home Value?

Killing Clients with Kindness AND VALUE

COVER STORY

Tejas Gosai

PENNSYLVANIA EDITION

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TEJAS GOSAI

CONTENTS 4) 4 WAYS TO WIN THE BATTLE AGAINST PROCRASTINATION

15) KILLING CLIENTS WITH KINDNESS AND VALUE

Tejas Gosai

6) EMBRACING SMART HOMES: DOES NEW TECHNOLOGY REALLY INCREASE HOME VALUE?

21) HOW TO RECOGNIZE TRUE LUXURY PROPERTIES

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4 Ways to Win the Battle Against Procrastination One of the most common professional afflictions is procrastination. The funny thing is, everyone knows that procrastination is negative—it’s a waste of time, a creator of stress, and is entirely a problem of our own making.

Still, knowing all of this doesn’t necessarily decrease our odds of procrastination. There are plenty of explanations we give when putting 4

work off until the last minute. Perhaps you convince yourself that you work best under pressure, but it’s truer that you’re used to working under pressure by necessity. Maybe you’re a perfectionist and the fear of getting it all wrong puts you off from the task. Whatever the justification may be, overcoming procrastination requires some willpower and technique. With

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that in mind, take a look at a few tricks below to jumpstart your motivation and nix the lastminute time crunch. After all, you owe it to yourself and your business to operate like a procrastination-free professional.

1. Make Your Intentions Known As realtors and mortgage professionals, you may serve as your own boss. So, when the time comes to complete a task and you put it off—perhaps you’re only disappointing yourself. This is easily remedied by making a new promise to try again tomorrow. On the other hand, it’s much harder to break promises and commitments to others. Try verbalizing your intent and commitment to your team, or to an assistant who can hold you accountable, or better yet—to a business partner or to a client.

Make a hard deadline public and you’re likely to perform for fear of embarrassment or losing face. In a way, this puts the pressure of expectation on you, instead of the pressure of the ticking clock.

2. Take a Baby Step When tasks pile up, it’s easy to get overwhelmed. If you’ve got a number of items on your to-do list, including some heavy hitters that require a lot of attention and time, begin by taking on something simple. Identify an easily completed job that needs attention and put it first in your queue. Duties that are straightforward and aren’t time-intensive can lead you to the rest of your to-do list, fueling you with the satisfaction of a task already complete. Even if it’s as small as returning e-mails, or dropping off your dry-cleaning, one simple thing off your Top Agent Magazine

list can inspire you to continue on to the next item in the spirit of productivity.

3. Work in Windows If work is the last thing you want to do and you can’t seem to self-motivate, make a compromise with yourself. Agree to work just fifteen minutes, and mean it. This tiny window of time is easy enough to complete, isn’t overwhelming, and you’ve already agreed to move on once time is up. The truth? Odds are that just fifteen minutes of active work will inspire you to keep going. After all, the most difficult part of procrastination is getting started. By putting in those fifteen minutes, you’ll trick yourself into diving into the action.

4. Switch Up Your Environment If you’re stuck in rut when it comes to procrastination and productivity, try changing your surroundings. If the office feels stale and stressful, take your work to the nearest coffee shop and try to tackle your tasks there. Perhaps the quiet, studious ambiance of a library can make you focus, or a picnic table outside the office can stimulate the senses. Sometimes changing your scenery can breathe new life into your routine and give you the extra push you need to get work done.

There’s no one way to overcome procrastination.

In fact, it’s likely a lifelong process of building discipline, finding techniques that work for you, and simply prioritizing your time more effectively. Don’t lose hope—remember these tricks and winning the war will be possible, even if you lose a few battles along the way.

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Embracing Smart Homes:

Does New Technology Really Increase Home Value?

Technology and innovation move at a lightning-fast clip, so it can be hard to keep up with all the smart-home trends sweeping the market at a given time. From smart thermostats to security systems accessed through an app on your phone—there are endless options to customize and update your home for the modern era. But which, if any, of these smart home products add 6

value to property in a significant, worthwhile capacity? Especially with new generations of the same products released in quick succession, it can be hard to determine whether it’s worth it to take the plunge. With that in mind, we’ve conducted a deep-dive into the smart home options out there that make the most sense for your bottom line and real estate investments.

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Smart home amenities range in price and return.

There are certain smart home products that won’t break the bank while still adding lovely touches and time-saving features to your space. For instance, a smart thermostat may not run more than a few hundred dollars, but it can take so much of the guesswork and analog nuisance out of programming your home’s internal environment. That said, buyers selling properties with mid-range amenities like this can’t expect a windfall in return. While smart home features can certainly lure buyers and give the sense that a home is attractively modern (and thus move-in ready), it doesn’t mean that you’ll be reaping a sizable monetary reward for your foresight. Conversely, this reality doesn’t mean those smart options

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are without value entirely; it just means that the value of smart home options may be apparent in a different capacity, like luring a particular buyer or creating a desirable, sleek image for a property headed to market.

On the other hand, larger scale smart home amenities that are being left behind for the buyer—like a smart refrigerator or wired sound throughout the property—may be able to lure particular buyers who value high-end details. While it can be difficult to state definitively the value of smart home options, the rule tends to be that the more you put in, the higher the likelihood you’ll reap the investment you sow. Focus your smart home options on home appliances first, then work your way toward security, thermostat, and entertainment options.

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Smart home amenities capture the attention of buyers

Agents must know how to pitch the value of smart home options

Even if you have mostly opted for small or mid-range smart home options, you can still benefit from their presence in a property—even if they don’t inflate your bottom line as a result. Smart home amenities have the power to focus the attention of buyers, sending a clear signal that the previous owners were tech-forward and made an effort to upgrade the property for the contemporary era. Millennial or Gen Z buyers especially value these up-to-date modifications, and the presence of these desirable gadgets can create added interest and drive up value naturally. Likewise, featuring these options in listing photography can also drive interest from younger or high-end buyers looking for move-in ready spaces.

Remember that smart home features are relatively fresh to the market. While some new construction properties are equipped with these smart amenities, just as many homes on the market don’t offer these upgrades and modern flairs. This means that many buyers, of all ages even, aren’t familiar with the benefits and perks of these options, let alone how they’re operated. Before you can derive value from a smart home or smart home features, you’ll need to understand a product’s proper usage, cost, and benefits. Do your homework regarding what smart home features can offer in terms time or cost savings, and be able to show prospective buyers how easy these objects are to use, as well. Do both, and you’ll be in proper command of what smart home features can offer buyers and pitch them accordingly.

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Tejas Gosai

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Tejas Gosai Tejas Gosai’s exposure to real estate began earlier than for most. At seventeen, he led a major development project alongside his father as they opened an eighty-nine-room hotel. While at Ithaca College, Tejas double-majored in marketing and legal studies, with a minor in economics. Following his graduation from Penn State Law, he recommitted himself to real estate development and entrepreneurship, undertaking several more hotel projects in the burgeoning Pittsburgh market and cutting his teeth at a publicly traded real estate investment trust based out of Philadelphia.

While Tejas’ knowledge and experience certainly run the gamut, he ultimately settled into 10 Copyright Top Agent Magazine

commercial and residential sales in 2017. By his 100th day as an agent, he obtained $15 million in listings and was just catching steam.

He focused on broadening his understanding of the market and the region’s opportunities.

He then launched his own carefully-curated team in 2018, hand-picking professionals with unconventional backgrounds with a hunger to learn, succeed, and develop the sales habits that have served Tejas so well. Today, he is based in Bethlehem, Pennsylvania, under the banner of Century 21, leading the Tejas Gosai Team.

In the past year, he’s cleared $15 million in volume, while his team has thrived alongside him using those best practices the team’s foundation is based upon. What’s more, he has built a Top Agent Magazine

reputation as an insightful advisor with a knack for understanding the undercurrents of the Lehigh Valley’s booming marketplace.

With a continued focus on both residential and commercial real estate, Tejas recently created LehighValleyOffMarket.com, a company Top Agent Magazine

dedicated to an unconventional niche. “The marketplace is constantly evolving and to stay above the competition, we’ve created a platform with a set of rules and safeguards that pairs pre-qualified buyers to un-listed, off-market sellers through proprietary software, encrypted access, and complete privacy.” Understanding 11 Copyright Top Agent Magazine

data and utilizing analytics are foundational to the Tejas Gosai Team’s approach. They regularly publish detailed case studies of their closed deals. Through the mapping of stats and metrics, they offer an in-depth perspective on a wide range of transactions. Tejas describes his approach as client-centric, with an aggressive understanding of the marketplace and the ability to get clients what they request.

One reason why Tejas and his team have been able to create so many partnerships with area Copyright Top Agent Magazine 12

leaders is their impeccable track record. When consulting with potential listing clients, Tejas offers the most compelling evidence for his business acumen. “We present our recently sold and settled listings to give an actual representation of exactly what and how we will execute the sale of their property,” he explains. “Most unsuccessful listing attempts simply miss key marketing elements and attention to detail, specifically in the expired market. Our expired listing resume proves that after we rework the marketing and distribution channels, we can sell any property Top Agent Magazine

within 45 days, on average.” Of course, Tejas’ creative eye also plays a valuable role in the listing process, whether residential or commercial. Early on in his business, he invested in top tools, such as high-end 4K cameras, 3D imagery, and drone video, to ensure every property is documented in its finest light. Additionally, he Top Agent Magazine

and his team offer virtual staging and access to pre-vetted contractors who make sure listings shine. From there, exposure is reached on a premium level, not only through the leading online listing platforms and Century 21’s global reach, but also through Tejas’ strong personal and professional network including over twenty Copyright Top Agent Magazine 13

thousand social media followers and a weekly newsletter sent to over thirty thousand clients and investors. “We consider ourselves real estate doctors,” he says. “We stay morally and ethically sound while priding ourselves in our craft.”

As for the future of his business, Tejas shows no signs of slowing anytime soon. With prescient economic insight into the Lehigh Valley’s consistent growth, he plans to grow his team and stand

behind several additional services that add value to his client base, including a media company, found at 360MediaPro.com, as well as LehighValleyTurnkey.com, both of which pair area agents, consumers, and developers to a holistic effect.

With those projects set to skyrocket, the coming year is bound to be more promising than ever for Tejas Gosai and his team.

Photography by Kalief Robinson.

To learn more about Tejas Gosai email T.G@TheTGTeam.com visit TejasGosaiTeam.com, or call (215) 317 – 1177 www.

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Killing Clients with Kindness and Value

By Walter Sanford

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

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

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

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

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

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

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

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

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

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

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

Email from Me to Coaching Client (to share with potential client): Thank you so much for the nice words. It is very exciting to hear that our hard work is creating some buzz. I think we can accommodate you and exceed your expectations: 16

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Copyright©, Walter Sanford. All rights reserved.

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

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

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Laughs!

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How to Recognize True Luxury Properties What to Consider Other Than Location When luxury home buyers are looking for a new abode, they are often advised to pay most of their attention to location, location, location. And it’s true that good locations often have better properties, but if you’re only looking at location then you might be forgetting what it is in a luxury property that makes it luxury. You could view a property in a great location, and because you completely ignored any of the other factors that make a property high end, you might find that once you move in, you aren’t as pleased with the actual house itself as you thought you would be. Here are the other things you should look out for when purchasing a luxury home: • Architectural Uniqueness: The simple fact is that good

architecture retains its value. Do your homework on architects and find the ones that have a good track record of designing beautiful, but practical homes. Don’t simply pay attention to how the building looks today. Consider how it will look in a few decades. Keep an eye out for the “bones” of the building, and decide whether they will stand the test of time or not. Things such as a solid foundation, high-grade materials, unusual details, and artistic components are good aspects to consider.

Will the structure hold up well or will it degrade and crumble without constant upkeep? That funky molding may look artistic today, but in ten years will it be considered artistic or just plain weird?

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• Practical Layout: Make sure you have enough room to live

in comfort. As a buyer of luxury property, you probably have quite a busy social schedule. You want to make sure that the layout will lend itself to helping you maintain clear separation between your social areas and private ones. You don’t want guests having to go back into your bedroom to use the bathroom. Look out for places with stairwells, awkward columns, long hallways, and other wastes of space.

• Unobstructed Views and Light: You want to live in

a home that gives you lots of natural light, such as one that is open to the outdoors. That natural light will improve your mood, as well as the resale value. The openness of a space filled with natural light will make you feel more comfortable and happy in your new home. What about the view? Do you see a Do you park, a bridge, a river, or a skyline? Is the see a park, fantastic view out your window protected? a bridge, You’ll need to understand the surrounding air a river, or a rights and zoning allowances of neighboring buildings to understand the possible risks. skyline?

• Windows: Windows are the primary source of losing heat and

cooling. Make sure they are double-paned with good insulation that will protect your home against weather and noise. Unless the windows are already like this, it is unlikely that the condo or co-op board will allow you to install your own.

• Ceiling Height: Consider the cubic footage of the property.

You want to look for high ceilings that increase the openness of a room.

Of course, you don’t want to go too high. Above 14 feet will get you diminished marginal returns.

• Storage: If you’re a woman, you will understand this one. We need

lots of closets and additional storage room to fit all of our clothes, shoes, jackets, hats, purses, etc. However, lucky for you, your potential home’s existing closet square footage will not limit you from putting in more storage space. Custom closet companies can create any kind of storage

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space you desire. You will have to, however, make sure that your new home does have an area that you can turn into this storage space.

• In-Unit Laundry: In-unit laundry has become necessary for

any luxury home or apartment. Do you really want to have to trek down flights of stairs to use the basement laundry? If you still consider it wasted space, you can convert it into more closet space.

• The Gym: Having a fitness area nearby is an amenity that is especially

important, particularly in winter when you don’t feel like walking to the gym a few blocks down.

One thing to consider is the Do you really want of the gym in relation to have to trek down size to the size of the building in flights of stairs? light of common area fees.

• Move-In Ready: I’d advise against buying time-consuming and

frustrating fixer-uppers no matter how much you want to add custom kitchens, finishes, fixtures, and other characteristics. Choose a property that already has all of these amenities taken care of. These properties have already had the same designers you would hire fashion the house at a fraction of the cost you would pay to have them do it after you move in. In this light, it is worthwhile to pay a little extra for the move-in ready home.

• Reputation: Pay attention to the reputation of the building. A

property that has a good reputation tends to retain its value. You can easily find this out online on posts, and established locals are likely to have an opinion.

If you want to buy luxury property that is really worth it’s price, then I would suggest adding these points to your list of things your new home must have.

If you want to get a high quality home that is a true luxury, you’ll want to watch out for these aspects as well as the location. Some properties might claim to be luxury based on their location, but when compared against this list, they don’t make the cut. So, don’t be fooled by imposters, and make sure you find a true high-end property.

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