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5 SURE-FIRE WAYS TO

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DESTINATIONS

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NECOLE ABBOUD

NECOLE ABBOUD

CONTENTS 4) HOW TO SPEED UP FIRST-TIME HOMEBUYER TRANSACTIONS

16) 7 SIMPLE TIPS THAT ARE PROVEN TO HELP YOU STAY AHEAD OF THE COMPETITION

13) TURN OPEN HOUSES INTO DESTINATIONS

19) PROPERTIES: THE GOOD, THE BAD, AND THE UGLY 22) 5 SURE-FIRE WAYS TO GET MORE REFERRALS

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How to Speed Up First-Time Homebuyer Transactions Working with first-time homebuyers can be among the most rewarding real estate transactions an agent can embark upon.

Not only are you helping guide newcomers into the housing market, but you’re also witness to the excitement and triumphs along the way, including handing over those keys for the first time. While 4

helping first-time homebuyers navigate the transactional process can be a reminder of real estate’s benevolent power, it can also come with its own bumps and bruises.

So, what’s the best way to streamline the homebuying process for first-timers, while maintaining the magic and keeping your sanity along the way?

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While helping first-time homebuyers navigate the transactional process can be a reminder of real estate’s benevolent power, it can also come with its own bumps and bruises.

Set expectations upfront and often.

It’s no secret that communication is a cornerstone of a successful real estate practice and client relationship. Amidst a transaction as complex as buying (or selling) a home, it’s important that no wires get crossed, no questions go unanswered, and no information gets lost in translation. To accomplish this, create communication parameters with your clients up front. Inquire about the communication medium they’re most comfortable with—a text, a call, an email, etc.

Then, tailor your outreach accordingly.

Also, consider setting a weekly time to check in, even if no official progress has been made. This helps clients and agents touch base, float questions and concerns, and get ahead of any problems or developments. Another helpful tool is to draft a transaction timeline for your client that outlines the major milestones along the way, what sort of information will need to be gathered, what steps taken, and what outcomes are possible. This might seem like exhaustive work, but in the era of digital research, clients will come to their own conclusions and biases Top Agent Magazine

whether you like it or not. To stay on the same page and timeline, be the foremost resource for your client, and don’t leave their questions up to chance.

Know your first-time homebuyer programs and perks.

There are a variety of national, state, regional, and local grants and programs that aid first-time homebuyers as they pay their down payment, shop for home or mortgage insurance, and otherwise deal with the financial implications of becoming a homeowner. Sometimes these programs are neighborhood-specific in certain cities, with incentives to buy in up and coming areas. In some cases, there are grants that support underrepresented minority communities breaking into homebuying, and these can go a long way in making the burden of a down payment and associated fees doable. In other words, do your research.

The right program or grant could make the difference in nabbing a dream starter home for your client, while setting them up for future financial success.

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Get pre-approved for a mortgage—and shop around for the best rate.

Not all mortgage rates are made equal. As an agent, you likely have good relationships with area lenders that you trust, but it’s still important to complete your due diligence when helping first-time homebuyers find the rate that suits their longterm housing goals. Also remember that first-time homebuyers are new to this process, and while real estate transactions are complex in their own right, the borrowing and lending processes can be alienating in their complexity. As an agent, it’s your job to play intermediary and teacher, ensuring your clients know their options, are prepared to make an educated decision, and

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feel confident that they’ve chosen correctly. Talk with your preferred mortgage partners to best outline options for your clients’ understanding, laying out a framework that’s informative, projected into the future, and allows them to feel empowered by knowledge.

All in all, working with first-time homebuyers can be an exciting and joyous occasion, as long as you’re adequately prepared for some hand-holding and instruction along the way. Aside from the enthusiasm of successful first-timers at the closing table, you’ll also enjoy the lasting benefit of strong referrals to their friends and family, many of whom will be shopping with you for their own first dream homes.

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NECOLE ABBOUD

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NECOLE ABBOUD Top Agent Necole Abboud spearheads her work under the banner of RE/MAX Prestige Properties, serving clients across Orange County and the greater Southern California region.

Necole Abboud got her start in real estate earlier than most. By age fourteen, she was already assisting her father, a broker with thirty-four years of experience, with their various rental properties. “My dad always tried to get me involved early on,” she remembers. “At twenty-two, I got my broker’s license after my senior year of college.” Seven years later, Necole has built a legacy of her own in real estate by selling 8 Copyright Top Agent Magazine

73 properties at $32,889,133 dollars in sales.

She was able to accomplish this because of her complete transparency, savvy negotiating, and a personal touch.

Today, Necole spearheads her work under the banner of RE/MAX Prestige Properties, serving clients across Orange County and the greater Southern California region. In addition Top Agent Magazine

to serving residential clientele, Necole has also earned experience with commercial properties.

Within four months of living in Los Angeles, she was able to sell three properties and get her first off-market commercial sale for $9-million and her first residential listing in Beverly Hills for $3.8-million. She is able to tap into any market and be successful in a short period of time.

Necole prioritizes her clients’ interests and longterm financial futures above all. “I always give honest advice,” she explains. “If it’s not the right Top Agent Magazine

time to sell or buy, I always let my clients know.

I’ve always had a passion for law, so I’m extra mindful in taking care of contracts and staying on top of policy so that I can offer solutions and solve problems.” Negotiating is one of her passions, and over the course of her career she has negotiated more than $400,000 in savings to her clients by negotiating down sales prices.

“No matter what, I reach out to my clients. Even after the transaction, I stay involved and remain available to them as a resource by extending to Copyright Top Agent Magazine 9

FOR SALE

Beverly Hills

Negotiating is one of Necole’s passions, and over the course of her career she has negotiated more than $400,000 in savings to her clients by negotiating down sales prices. them my network of contractors, who ultimately save them more money on remodeling costs,” she says. “I also handle their rentals and provide them property management services. As a real estate investor myself, I use the same skills that have made me profitable and provide this same strategy to my clients. On average, my clients make two to five-times more than the average rent in a specific neighborhood. My ability to think outside the box and not be limited to what existing rents get allows my clients the most amount of money, ultimately giving them a higher rate of return.”

When it comes to listing properties, Necole takes an active approach to find buyers rather than just listing the property on the MLS. All listings have their own professional websites, photography, 3D tours, and property performance analyses 10Copyright Top Agent Magazine

to other online listings. She utilizes RE/MAX for their global exposure and network. Necole takes it a step further by utilizing her economics degree to analyze the data and patterns of what states and neighborhoods most recent buyers are coming from, then drives additional marketing toward those areas. “I like to call myself a matchmaker because I really do match buyers and sellers together,” she says. When she identifies a buyer that wants a specific property, she directly reaches out to every homeowner to see if they would consider selling. “I am very skilled in getting off-market properties for both commercial and residential properties,” she says. “I become a specialist and stay extremely organized to connect people. I match buyers to sellers based on their specific needs, which ends up leading to off market sales. It’s a win-win and everyone is happy. Sellers don’t have to end up listing their Top Agent Magazine

FOR SALE

Mission Viejo

property online and waiting for a result. I don’t like to waste time, so I am very tenacious and work very quickly.”

Beyond the office, Necole is in the process of finalizing a book and forthcoming podcast, Top Agent Magazine

focusing on her experiences as an agent and geared toward helping other real estate agents coming up in the industry. In her free hours, Necole tells Top Agent “I enjoy spending time with my loved ones, traveling the world, learning new languages and experiencing new cultures music and cuisines.”

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As for the future, Necole shows no signs of slowing anytime soon, with plans to expand her footprint and continue to grow her own portfolio of investment properties. “I’m excited for the future!” she says. “I’m hoping to give back to my real estate community by providing more educational videos, offering my books for new agents to learn, and providing an online platform for sellers and buyers to learn.”

Now, with nearly a decade of experience and insight, Necole considers what she enjoys most about her chosen field. “What I love about this business is that you can set your own future,” she says. “There’s no limit on your horizon. It’s all about how hard you work, and that’s how I want to motivate other people that I work with, as colleagues and clients, that they can build a life for themselves and enjoy financial freedom.”

To learn more about Necole Abboud please call 949–910–6454 or email necoleabboud@gmail.com

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Turn Open Houses into Destinations People are busy. Even those who are actively looking to buy a house or want to learn about the market for a future purpose have busy schedules.

But with bit of added time, creativity and investment in making open house into destinations, you’ll see greater turnout. And we all know that greater turnout increases the likelihood of offers.

There are several creative ways to hold an open house with a mindset of hospitality and with the goal of providing something of value to each person who attends.

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The neighbors-only open house Some agents embrace the “nosy neighbor” concept as a benefit, not an eye-rolling challenge.

With his client’s permission, Wesley Peters, a Keller Williams broker in the Baltimore Metro Area, often gets the neighbors together before a home hits the market. “We invite other brokers, too, but we include as many neighbors as we can,” he says, explaining that he schedules these events for a Thursday or Friday evening, happy hour-style, rather than midday on a Sunday. They get a better turnout at 5:00 pm than

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midday on a weekend when the neighbors are busy with their lives. In a relaxed setting, conversations flow, neighbors can mingle and catch up, and the buzz begins before the home is listed.

In advance, prepare invitations and hand-deliver them to homes on the streets you and your client agree are best to include. The destination is the event; the value each attendee receives is the social interaction and the removal of any awkwardness over visiting their neighbor’s house.

Your client’s benefit is the buzz.

A turnkey block party any time of year Once a property is listed, some agents take on the role of party planners. Certain streets or neighborhoods, they find, are perfect for lowkey social occasions. In some place, such as neighborhoods with many young families, a bounce-house or games may even ramp up the fun factor. But the idea of a seemingly spontaneous block party during an open house can be easy to pull off, whether you’re serving lemonade and cookies or coffee and pastries. The chance to meet prospective neighbors turns the event into a destination for both buyers and the neighbors; the value comes in buyers’ ability to see how the neighbors interact. Your seller’s benefit is that the grapevine will be filled with happy stories about their home. Tips: By keeping basic supplies in storage, you’ll be ready for a pop-up block party any time. Promote this type of event with targeted social media marketing and fliers or postcards to communities within a short distance of your listing.

Invite other professionals It’s common mortgage lenders to attend open houses. But why not provide even more value to people who attend? Chances are, you have more than a handful of professional partners who welcome an opportunity to join you at your open house. Consider inviting an interior designer, a contractor, a gardener, even a gardener or a painter. Invite them to your broker’s open in advance or give them time to view the property 14

before the open house begins. Then encourage them to stroll the property during the open house or to sit with you. When visitors ask about needs or concerns they may have about the house – such as loan questions, the cost of improvements or upgrades or even remodeling – you’ll be able to introduce them to an expert on the spot. For that matter, your invited pros don’t even necessarily have to be in home-related businesses!

Prospective buyers always want to know about the community when visiting open houses.

Consider inviting representatives of community

organizations, like youth sports group or owners of mom-and-pop retailers to help your visitors get a feel for the neighborhood or town. For this type of open-house, prepare a flyer or card with your community contacts on it so visitors can leave with resources as well as information.

Open house should be about the buzz. They’re about creating a conversation about your listing and making the home memorable to visitors. By giving people a unique experience they won’t forget, you’ll show your sellers how creative you are in meeting their needs.

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7 Simple Tips that are Proven to Help You Stay Ahead of the Competition So you’ve created a successful business, congratulations! You probably did it by providing an unsurpassed level of customer service that not only meets customer expectations but exceeds them in a way that has made you stand out from the rest. As anyone can tell you, starting a successful business is not easy.

Now comes the even harder part. Not only sustaining that high level of performance, but continuing to grow and outpace the competition. There is no resting on your laurels in a competitive business market. Companies that stay successful for the longterm, make an active effort to keep on top. Here are just a few ways you can do the same.

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1. Know the competition It’s not enough to know what you excel at or what makes you unique, you need to know what your competitors are offering that makes them stand out. This serves two purposes: it will allow you to more clearly define your differences, or it may help you identify an area that you hadn’t considered before, opening up a potentially new way in which you can excel above the rest.

2. Know your customers You might know your clientele very well, but as economic conditions change, so does your

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customer’s needs. What might have been a priority a year ago, won’t be if we are in the midst of an economic downturn, for example.

As a business owner you should always be evaluating your strategies in every area constantly, knowing what your customer wants and needs from you is key. In fact you should be using your expertise to analyze potential market changes and anticipate those needs to stay ahead of the curve.

3. Have a strong understanding on what makes you unique Once you accomplish the first two, you should have a clear idea of what unique advantage you offer people. This needs to be clear to everyone, so you can then take that idea and run with it. Find your niche and then market yourself with a focus on that idea. If you have a clear thing you’re selling, it is well worth the investment to market yourself to the hilt with that in mind.

5. Think like your competitors One way your competitors looks to gain customers is by potentially taking yours. It goes without saying, you don’t want to let that happen. You’ve probably built great relationships, so really maintain those relationships by not only providing great service, but service that truly goes above and beyond. Find ways to give more to your customers. You might even want to start offering surveys, where your clients can tell you exactly what they’d like to see.This makes your clients not only feel heard, but blown away when you implement any changes they suggest.

6. Look for untapped markets Don’t settle for maintaining what you have, there could be untapped markets out there.

If you don’t get to them, your competitors will. So even if they come eventually, hopefully you’ll already be the dominate force in that market.

4. Keep up to date

7. Be a great boss

This goes for everything from technology to systems, marketing, and even your own personal image. If you have a brick and mortar location, you want to also keep things looking fresh and modern there, as well. First impressions are important for a reason. Everything about your business should tie into your marketing and branding. What are you selling and does everything line up to support that, from your business cards to your social media pages. Remember the key to branding and marketing is a consistent message.

One of the best things you can do to keep ahead of the rest, is by being a company where top talent and motivated newcomers want to be. Be the company that offers more than a competitive paycheck. Be a place that fosters talent, and offers scheduling and compensations packages that appeal more to people who think outside of the box. This will attract more innovative thinkers who value flexibility. Not only will you benefit from their talents, more importantly, your competition won’t.

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Properties: The Good, The Bad, And The Ugly

by Denise Lones

I was shocked. There it was. An expensive property near a busy intersection that had stayed on the market for almost a year.

I asked one of my agents, “Why hasn’t this one sold?”

But none of these are reasons to put this property on the back shelf. In fact, there is a market for every market, no matter its location or condition. Too often, we make the mistake of shortchanging sellers who don’t have manicured lawns on cul-de-sacs with perfect houses. We prejudge our own listings to the detriment of the people we’re supposed to be serving.

He said, “Because it’s a dog. Look at it. Nobody wants those turrets that stick out like that. And besides, it’s at that intersection where there’s traffic all day long.”

I’ve been there. I’ve driven to properties hoping for a terraced I couldn’t believe what I was masterpiece with a stunning garden, hearing. This agent had “classified” and then felt that sick dropping this property in his own mind as feeling in the pit of my stomach something that wasn’t worth the when I finally saw it. trouble to market—pretending to service his customer while doing What do most agents do? They’re nothing. True, it wasn’t as beautiful polite, they take the listing, and they or pristine as surrounding neigh- get out of there fast. They rely too borhoods. True, it was in a not-so- much on their own opinion of the prime location. True, it could use property rather than pulling statistics to determine its true market value. some handyman work.

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OR they tell the seller, “This house isn’t going to sell unless you change the carpet, fix the paint, install new roofing, etc.”

Beware! This could lead into a legal nightmare. While on the surface this agent is giving generic advice, what if the seller does everything the agent suggests—and the house still doesn’t sell? That agent might want to call a good lawyer.

If a property needs work, that’s never a reason it won’t sell. There are investors, handypersons, contractors, and do-it-yourselfers who love these properties. Go to your local real estate investment club meeting and you’ll find people searching frantically for such properties. Advertise it as a “Handyman’s Special.” Target these people directly. You may be amazed how many of them are out there.

Here’s the truth: Every property— True, you may have to advise the good, bad, and ugly—will sell if seller they won’t get top-dollar if priced right. It is always about price. a lot of work needs to be done.

There is always someone in the But this is the true issue here—not market ready and willing to buy the work itself. It’s always about right now for the right price. price.

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Let’s talk ugly. A house is in pristine condition, but has a rather peculiar look. Well, I have news for you: Just because you think a house is ugly doesn’t mean there isn’t someone out there who will say, “This is the home I’ve been looking for all my life!”

cannot tell you how many times my jaw dropped when someone told me, “Perfect! We love it!” So, I’ve learned never to judge a house by its paint job, landscaping, or design.

You have a job to do: sell the house at top-market price. You are hired to be the market expert. Sellers don’t Did you know there are people out have the time to do so themselves. there who prefer ugly houses? Yes, That’s why you have a career. ugly houses! Some people don’t care about the outside of a property. It’s always the market that They’re only interested in the determines what sells. No matter the inside, where they know they will shape, size, or condition. And you be spending most of their time. are not in charge of the market, These are people who don’t buy to which as always is based on supply impress others, but rather to please and demand. Whatever is in demand themselves. Thank goodness for will sell, whether it’s a beachfront these people. Without them, we’d mansion or a shack in the woods. Be creative. Use your marketing to have to tear down half the planet! target people who truly want these I’ve seen houses that look like properties. But most importantly, something from a Stephen King price the property correctly for the novel sell overnight while another market. that could be on the cover of Home and Garden languishes on the market Know thy market and thou shalt for weeks. Why? Because somebody know what sells—good, bad, or ugly. wanted that house. Period.

You are not the world’s taste critic. Copyright©, Denise Lones.

You cannot tell what people want. I All rights reserved.

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5 Sure-Fire Ways to Get More Referrals

by Bubba Mills

Wouldn’t it be great if you didn’t have to market your services? Just serve and help clients all day—it’s why you chose real estate in the first place, right? To help people. But if you’re like most REALTORS®, you’re likely working your butt off just to get those clients.

So what’s the answer? Referrals— from your current and past clients, family, friends and acquaintances.

Imagine what your business would look like if everyone you knew gave you just one good buying or selling referral. Yeah, savor that feeling for a minute.

savings. Remember this: when you take exceptional care of your clients, they’ll do your marketing for free.

Referrals are where the money is and here are five tips you can start using today to get more: 1. Make your service downright unforgettable. Past clients can’t refer you if they don’t remember you.

Help them remember you by giving them memorable service. Take time to brainstorm ways to increase your service. Remember that referrals are earned, not paid for. By the way, I teach a seminar called Marry Me! Getting Your Clients to Say ‘I Do!’ that gives tips on how to offer service that yields referrals. Visit http://getbubbasnotes.com/marryme and get them free.

Run the numbers. Your average client who sticks with you is worth $25,000 if they move three times (first average commission is $5,000; they move in five years, that’s another $10,000 for the buy and sell. Same with the third 2. Cross promote and partner with move, another $10,000.) Then if the other businesses. Think about all the client refers two people, suddenly local businesses in your city and you’re talking $75,000. And that’s then ask this question: What can I without marketing, so add in that do to help those local businesses 22

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while promoting my business?

Think coupons for your clients and leaving your business cards in their stores.

3. Think A.B.A.—Always Be Asking. If you don't ask, you don't get referrals. Add a P.S. to your email signature. Something like this: “P.S. If you know anyone thinking of buying or selling real estate, please tell them about ABC Real Estate and hit the reply button and tell us how we can help them!”

Also, put some serious thought into your closing gifts. I’ve given Cutco Knives with my name engraved on the blades. Every time they use the knives, they think of me. Give gifts that have a shelf life.

4. Get involved in your community.

People are more likely to refer to someone they believe is a good person – someone that gives back to the community. And remember, it’s not your signs all over town that make you a community icon; it’s what you do for your community.

Volunteer at retirement centers, help rebuild and paint local parks, serve food at the local soup kitchen, take part in fundraisers and be seen at block parties and street picnics.

5. Show your gratitude when you do Top Agent Magazine

get referrals. Thank your referrers for their help, and keep them updated on how the new relationship is going.

The referral system is built on strong relationships and shared value.

Share what’s on your mind. How much time are you spending to get referrals? Can you improve your referral numbers? If not, why not?

What’s preventing you from getting more referrals? What successes or failures have you had with asking for referrals in the past? Please send any comments or questions you have to Article@CorcoranCoaching.com or http://www.facebook.com/Corcoran Coaching.

Bubba Mills is co-owner and executive vice president of Corcoran Consulting and Coaching Inc. (www.corcorancoaching. com/programs, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into Real Estate Companies, Mortgage Companies and Small Businesses. Bubba Mills is a nationally recognized inspirational and education speaker, coach and mentor to the top real estate agents and mortgage companies.

To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.Corcoran Coaching.com.

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