SOUTHERN CALIFORNIA 8-5-19

SOUTHERN CALIFORNIA EDITION

Embracing Smart Homes: Does New Technology Really Increase Home Value?

GOAL CONTRACTS

(A LIFE SKILL FROM THE OLD SCHOOL) COVER STORY

EMILY TRUST

8 Tips On Using Disruptive Thinking to IMPROVE

INNOVATION

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EMILY TRUST

CONTENTS 4) EMBRACING SMART HOMES: DOES NEW TECHNOLOGY REALLY INCREASE HOME VALUE? 13) 8 TIPS ON USING DISRUPTIVE THINKING TO IMPROVE INNOVATION

16) WHY FLEXIBILITY HURTS (NOT HELPS) YOUR ABILITY TO CLOSE SALES DEALS 19) GOAL CONTRACTS (A LIFE SKILL FROM THE OLD SCHOOL) 22) 4 WAYS MENTORING UP-AND-COMING EMPLOYEES MAKES YOU A BETTER AGENT

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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 4

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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EMILY TRUST Top Agent Magazine

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EMILY TRUST Under the banner of Berkshire Hathaway Real Estate Services, Top Agent Emily Trust spearheads her work solo and serves the entirety of the Coachella Valley.

Emily Trust earned her real estate license back in 2007, at the encouragement of her father. Confident that her people skills, managerial experience, and talent for sales would make for a natural transition, she 8 Copyright Top Agent Magazine

dove headlong into the industry and has never looked back. Now, she has built a reputation as an agent known for her authentic relationships, regional knowledge, and proven track record.

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Under the banner of Berkshire Hathaway Real Estate Services, Emily spearheads her work solo and serves the entirety of the Coachella Valley. There, a substantial portion of her business is driven by repeat and referral clientele—constituting roughly 50% of her clientshare. Buyers and sellers turn to Emily for her attentive working style, responsive communication, and natural rapport. “I try and think differently about my role,” Emily says. “To me, real estate Top Agent Magazine

is about building relationships, and that’s second to sales. Sales is the service I provide, but it’s also about finding a bond with people and being able to help them in their goals. I often become friends with my clients, and I really consider it more than just a business relationship.”

Because the Coachella Valley is a popular destination, second homes are common in the area. After a transaction is complete, Copyright Top Agent Magazine 9

Emily keeps in touch with locals and visitors alike by reaching out for coffee or otherwise checking in, remaining a resource long after the closing table has been reached. When listing properties, she taps her tightknit network of fellow agents in the region, in addition to leveraging Berkshire Hathaway’s expansive digital suite that exposes listings to more than 1,000 unique online outlets. Traditional 10Copyright Top Agent Magazine

marketing methods like Just Listed and Just Sold postcards, as well as open houses, also generates hyper-local buzz.

With a $500,000 average price-point and approximately 30 to 40 sales yearly, Emily is well-versed in the region’s marketplace and passes along this knowledge to those she serves. Whether working with buyers or sellers, Emily recognizes the risk and emotions inherent in the process. “It’s a Top Agent Magazine

huge investment and milestone, she says. “I gain their trust and show them through my actions that I’m going to be there every step of the way.”

by donating a portion of every sale to this mission. In her free hours, she most enjoys time spent with her husband, daughter, and their two family pets.

Beyond the office, Emily stays involved in her community through the Greater Coachella Chamber of Commerce. She also supports Find Foodbank, which feeds more than 85,000 individuals in need monthly,

As for the future, Emily and her husband—a licensed broker in his own right—make five-year plans to ensure their spiritual, physical, personal, and professional health.

“I’ve been truly blessed by the support of

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clients, friends, and family that have allowed me to be successful,” she says. Now, with years of insight behind her and a promising road ahead, Emily Trust considers what she enjoys most about her work. “I love being

able to serve people,” she says. “It’s a small community of Realtors here in the desert, and our reputations are everything. We strive to be honest, maintain our integrity, and it’s a great place to live and to work.”

To learn more about Emily Trust email EmilyTrust@icloud.com, call (760) 289 – 0189, or visit berkshirehathawayhs.com/emily-trust-real-estate-agent www.

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8 Tips on Using Disruptive Thinking to Improve Innovation You might be wondering what disruptive thinking is. How can anything disruptive be good? Well, if you’re caught in a stagnant place, shaking things up might be exactly what you need to gain some momentum in your personal or professional life.

the norms that keep you from being creative and implementing big ideas. Here are some simple things you can do to find opportunities that might be hidden if you stay stuck in the status quo.

Sometimes taking a step out of your bubble will give you a much needed perspective and allow you to achieve the breakthrough you need to take things to the next level. There is no more valuable commodity in today’s business world than innovative thinking, and the key to innovative thinking is breaking down

1. TAKE RISKS

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Without risks, there usually won’t be any major rewards. Sure being steady and careful might keep things going marginally well, but if you really want to go big, you need to go all in sometimes. If you go through the history of great innovations, none of them

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were achieved by playing it safe. Embrace mistakes. Learn from them, they often provide valuable insight and that will lead to great success on your next attempt.

2. FAMILIARIZE YOURSELF WITH A COMPLETELY DIFFERENT INDUSTRY This might seem counter-intuitive, but you’d be amazed at what you can learn by looking into successful companies, no matter what the business type is. You’re almost certain to find valuable solutions, systems or technology, that might fit your business, giving you a unique advantage over the competition.

3.BE CURIOUS Break some of your daily habits, even if it’s as simple as ordering a new dish at your favorite restaurant. Even the smallest changes can help spark a new idea. Always be on the lookout for new ways to do things. Little innovation are all around you. If you remain curious and keep an open mind, you’ll be surprised as to what might spark the next great idea.

4. PICK THE BRAIN OF A NON-EXPERT Yes, there is a lot to be gained by having access to someone with an expertise in your field, but you can learn a lot from a newcomer as well. They are a blank slate, and may inspire you with their completely unique point of view on things as someone just starting out.

5. BE LESS JUDGMENTAL It’s very easy to dismiss a new idea. You have experience and that can oftentimes lead 14

to a million reasons why something won’t work. But there really is no harm in ignoring your initial impulse and thinking it though a bit more. If you or someone you work with has passion for an idea, it’s definitely worth pursuing.

6. CHANGE YOUR PERSPECTIVE We tend to look at things in a linear way.

If you feel like you’ve stalled out on something, literally flip the script. Re-imagine it from different perspectives, reverse engineer the process. Anything you can do to see it from all angles, might get the creative juices flowing again, and could even lead to a breakthrough.

7. VALUE CHAOS Yes, it’s great to be organized and have a plan, but sometimes a little randomness can be that added ingredient that makes it all work. One of the major keys to successful disruptive thinking is breaking up everyday patterns. Sometimes the path to rational solution is filled with chaotic moments.

8. BE WILLING TO LET GO Don’t be rigid. Even the best ideas can always be refined and improved. You’ve invested a lot of time in your idea and it can be hard not to cling to it, but input from other people will only strengthen what you want to do.

Having big ideas is great, but you also need to be pragmatic. Recognize changes you might need to make to get your big idea implemented. Disruptive thinking is all about flexibility.

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Why Flexibility Hurts (Not Helps) Your Ability to Close Sales Deals

By Kendra Lee

For many sales reps, being flexible throughout the sales process seems like the best, consultative approach to establish a strong prospect relationship and win more sales. Rather than suggest what a prospective client should buy, reps opt to empower the client to dictate their needs. In doing so, the thought process is that reps convey patience and a commitment to ensuring the client gets exactly what they want, which will in turn improve their chances of closing the deal.

Here’s what that approach accomplishes instead: Slower buy cycles and lower closing ratios.

Truth is, most buyers don’t know exactly what they need from you.

Sure, prospects know the outcome they want to achieve. They might even have an idea of which tools or services might help accomplish it. But they don’t know which specific products, services, or solutions will get them there. Other prospects know the outcome they want to achieve, but have no idea how to get started, let alone which products, services or solutions to look at.

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Either way, to achieve the outcome they’re aspiring to, buyers often look to you to guide them toward the right decision.

When you don’t provide that guidance, it stalls the sales process and dramatically reduces closing ratios. Here’s why: 1 Flexibility doesn’t empower buyers — it confuses them 2 Forcing work on to your buyers typically causes them to look elsewhere for someone who can figure out how exactly to address their problem In both cases, your performance suffers.

Ultimately, buyers — particularly in the earlier stages of their buy cycle — don’t want total flexibility or the freedom to choose any possible solution.

They want, and need, guidance from you to navigate toward the right one.

When you provide that definitive insight in the early stages of the buying cycle, customers gain confidence that you’re the right person to get them to where they need to be.

To put it more bluntly, being “flexible” is a cop out. It might make you feel better, but it’s not helping prospects.

If you really want to empower small and mid-size businesses to make meaningful change, you have to be willing to make a definitive, confident recommendation and show prospects a clear path to addressing their problem.

When you do that, you’ll close sales faster and your clients will be happier.

They’ll get what they need (and want), and your closing ratios will trend in the right direction.

Copyright©, Kendra Lee. All rights reserved.

Contact details for Kendra Lee: Phone: 303-741-6636 (Old fashioned, but very effective.)

Email: Info@klagroup.com (Yes, I get every one of these personally.) Twitter: @KendraLeeKLA (And I do follow all direct messages on Twitter!) KLA Group is a sales consulting and training firm focused on helping clients get more customers in the Small and Midmarket Business (SMB) segment through lead generation, prospecting, hiring and onboarding strategies.

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Goal Contracts

By Barry Eisen

(A Life Skill from the Old School) A few months ago I spoke at a real estate sales meeting in an office where I’ve spoken and taught seminars for many years. As soon as I was finished, an agent, who had transferred into this office about a year before, standing in the back of the room, graciously offered a glowing testimonial about my seminar he had taken ten years ago. He talked of a number meaningful changes for the better he had experienced in his life since that seminar. Then he took out Top Agent Magazine

of his pocket a small number of 3 by 5 cards and held them up like he was holding the Holy Grail. Of all the internal and external techniques he was exposed to in the seminar, these cards (Goal Contracts) were his game changer.

I stopped guessing years ago, which ideas or systems I teach will be best or most appreciated. We all perceive ideas so differently. Generally, feedback I get in coaching sessions is 19

that the biggest issue for most, who are not fulfilling their own personal promises, is lack of focus, not lack of ability or planning. There are lots of good ideas available to shake a person out of the Limbo they’ve created. Here’s one that has worked for many. If you like the idea, don’t just acknowledge it as a “nice idea.”

Do it for a month. Get past the initial new/awkward/judgmental stage. Then decide whether this is an idea worth continuing or not. Come from KNOWING, not second-guessing. 3. On the second line, answer the You have everything to gain and time question. What is the specific nothing to lose.

TARGET or DUE DATE for that goal to be accomplished? (A specific The Goal Contract date creates a sense of urgency.)

Get as many 3 X 5 cards for as many 4. On the third line of each card selected personal/business goals answer the HOW? question. This is the action step, where the rubber you’d like to accomplish. meets the road. How are you going 1. Create 4 horizontal lines across to get from where you are to where each card with a few spaces in you are going? Dig deeper than the lazy answer: “If I knew what to do between each.

I’d be doing it!” If you’ve crossed the street by yourself a few times You have everything to already, chances are you know what gain and nothing to lose. you need to do. Write this down in a few words on the third line.

2. On the top line of each card answer the question WHAT? What 5. On the bottom line of each card, is that card’s goal? Write that goal SIGN YOUR NAME. As simple and on the top line (e.g. Weigh 150 lbs., perhaps silly as this may seem, we $200,000, run a 42 minute 10K, etc). have been conditioned to live up to 20

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you feel self conscious), on your office and home office desk, etc.

Just the physical act of moving the cards, subconsciously reinforces what the cards represent. Since most of our attitudes and actions are subconsciously motivated, you will feel more immediately compelled to make the better, usually more 6. Stick a small piece of double productive decision. sided tape on the back of each card.

This is a little idea that can play big 7. Carry these cards with you in getting you to another level. through the travels of your day. In Because it’s easy to do, it becomes your pocket or handbag, carry case, easy to NOT do. Do it, you’ll like it! on the dashboard of your car (not when you have others with you, if Copyright©, Barry Eisen.

responsibilities we sign for (mortgages, insurance, credit cards, cars, etc). Personal and business goals don’t generally fall into that category. A small action can have a huge impact. As you sign your name, feel the responsibility of your commitment.

Barry Eisen teaches personal development seminars and coaches Southern California top producing rEALtOrS®. “Your business will never grow more than you do” is the theme; self hypnosis and behavior modification are the tools for playing a bigger game. barryeisen.com, barryeisen@LA.twcbc.com 818-769-4300

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4 Ways Mentoring Up-and-Coming Employees Makes You a Better Agent In the world of real estate, there are always new agents joining the ranks. Even if you’ve been practicing for just a few short years, you’ve likely learned your fair share of lesson along the way. As an agent, much of your working philosophy is derived from first-hand experience and your work on the ground. This means that new agents are less prepared for the inevitable curveballs of the industry. That’s where you come in.

While mentorship is often pitched as a relationship that solely benefits the mentee, there is actually plenty to be gained from becoming a mentor. After all, personal growth goes hand-in-hand with professional growth, and becoming a mentor asks agents to thought22

fully explore and demonstrate their own ideologies, practices, and rationale. With that in mind, take a look at some of the benefits of mentorship below, and you’ll get a sense of why counseling new agents can be a boon to your own business.

Teaching lessons to others reinforces your own professional values.

Showing the ropes to young agents is a great way to brush-up on your foundational skills.

Verbalizing and demonstrating processes, or walking through the rationale behind negotiation tactics—all cause mentors to think through their established practices and outline in detail why they’ve chosen this route over an

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alternative. This helps older agents fine-tune their routines, while getting back in touch with the critical thinking that went into constructing those habits.

Mentorships allows you to see the big picture.

surely sharpen your ability as the head of a team. What’s more, you’ll be building skills of empathy, understanding, teaching, and constructive criticism. Working on those skills will better your practice and your ability to lead in your office.

After a lengthy industry tenure, it’s not uncommon for battle-worn agents to lose some steam and begin to burn out. By devoting some time to mentoring up-and-coming agents, you’ll get back in touch with your early days, remembering the excitement, the trials, and the hard lessons gleaned. Spending time with the next generation of real estate professionals can reinvigorate your practice, as seeing the business from the eyes of an eager amateur can inject energy into your working life.

You’ll benefit from seeing things from a new perspective.

Just as working with young agents can help you remember your career’s big picture, you may also benefit from working alongside someone with a new perspective. Young agents bring a different set of skills and awareness to their work, and established agents can benefit from a fresh take. If technology isn’t your strong suit, or you’re interested in tapping the Millennial homebuyer market, working with a younger agent is an excellent way to see through fresh eyes.

Mentoring young agents makes you a better leader.

As a mentor, you’ll often direct the flow of your professional relationship—figuring out which issues to tackle, making an agenda, and imparting lessons in a clear way. These are all characteristics of a leader, and acting in a position of authority as mentor can Top Agent Magazine

While some may balk at the time commitment or energy required to take on a mentee or two, you might consider it an act of ongoing education or professional development. While your mentee will undoubtedly benefit from access to your expertise, there’s certainly much to be gained from taking the time to cultivate tomorrow’s real estate leaders.

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