TEXAS 5-6-19

TEXAS EDITION

7 Simple Tips that Are Proven to Help You Stay Ahead of the Competition

Keeping in touch –

How to Stay in Your Clients’ Lives for the Long Haul Cooperation, Not Competition, Creates Mutual Success for Agents

SUSAN VAUGHAN COVER STORY

TEXAS EDITION

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SUSAN VAUGHAN

CONTENTS 4) 7 SIMPLE TIPS THAT ARE PROVEN TO HELP YOU STAY AHEAD OF THE COMPETITION

15) KEEPING IN TOUCH – SUSAN HOW TO STAY IN YOUR CLIENTS’ LIVES FOR THE LONG HAUL VAUGHAN

6) COOPERATION, NOT COMPETITION, CREATES MUTUAL SUCCESS FOR AGENTS

21) HOW TO RECOGNIZE TRUE LUXURY PROPERTIES

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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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Cooperation, Not Competition, Creates

Mutual Success for Agents When people get along during a business transaction, everyone comes out happier. And in a service industry like real estate, agents have the power deliver that happiness. By working cooperatively, sharing advice and helping each other help clients, agents not only enhance their own reputations, but that of real estate in general.

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“Bring everyone together” Matt Kobelski, with Credentials Real Estate Group in Massachusetts, points out that providing good service involves more people than the party you’re representing. “I’m not afraid to bring together all the parties in a deal and say, ‘OK, let’s figure out a solution that works best

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Teaming up with an agent from a different brokerage on a transaction is not as uncommon or complicated as it might seem

for everyone,” he explains. “My goal is to avoid being adversarial.” Real estate, he believes, should always be a field in which each person can win. “It’s about working toward a mutual goal, shaking hands, and walking away happy that a seller sold, a buyer bought and everyone got what they wanted.”

But Is it that simple? Most agents have experienced the ways conflicting personalities and tension during a transaction can heat up even the most cordial relations. In reality, however, it’s more productive to let down your guard and work with others as a team than it is to allow stress and competition to preside. South Florida REALTOR® and broker associate, Risë V. Siegrist, for instance, has zero interest in competing with other agents. “It’s more important to be professional and associate with competent, caring people,” she says. By serving others with a cooperative spirit, experienced agents like Risë set an excellent example for emerging real estate stars. Risë hopes to be a model for the next generation of agents, training people who may one day become part of her team.

Risë’s position on cooperation inspires more reasons for nurturing relationships with other agents. Over the decades, many agents change brokerages several times. Who knows if that agent across the table will one day work at the Top Agent Magazine

same brokerage you do? Perhaps you’ll even have an opportunity to partner on an exciting, future transaction. Good relations keep doors open to endless possibilities.

Co-listing cooperation Teaming up with an agent from a different brokerage on a transaction is not as uncommon or complicated as it might seem. In fact, some agents cleverly capitalize on their collective attributes, rather than competing against one another. South Carolina REALTOR® Kimberly Pannit is a perfect example of the universal benefits of co-listings. Although she has always been an independent agent, Kimberly works hard to form professional alliances that give her business the feel of a cooperative network across brokerages.

This cooperative approach may be nontraditional, but it benefits clients in unique ways. By working closely with agents at other brokerages, she shows how agents can improve client service while helping one another.

Kimberly’s cooperative approach began in her own neighborhood, where an agent friend from a different brokerage also lives. “Several years ago, I approached her because both of us were friends with our neighbors. I asked, ‘Why don’t we give our neighbors superior service and

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co-list together? We both love our area and are passionate about our jobs, the location and schools.’” She also didn’t want to make their mutual friends choose between them when they could work together. “I said, ‘Let’s give them amazing service together!’” With their brokers’ permission, two weeks later the agents co-listed their first home and put extra energy into ensuring uninterrupted client service.

Networking and “Co-opertition” When the ultimate goal is to match a client with the perfect home or create optimal terms of sale for a listings, networking with other agents can facilitate that ideal buyer-seller match.

Nashville REALTOR® and broker/owner Lisa Land embraced every opportunity to contribute meaningfully to the real estate industry and to her local market, even before building her own team. “Agents would frequently ask me for help or advice,” she says, noting that she shares, rather than guarding, the methods she uses to get through difficult or confusing transactions. “I was fortunate to have great mentors when I started in real estate, so I’m always

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willing to offer help, even to agents outside of The Luxe Collective.”

Meanwhile, on Cape Cod in Massachusetts, Janet Leigh Scott describes the climate between agents as relaxed and professional. “While the real estate market is highly competitive, we’re truly a ‘co-opertition’ market; agents work together and a have greater sense of community than you might experience in off-island brokerages,” Janet says. “If I have buyer coming into town, I’ll reach out to agents I’ve done transactions with to ask if they have anything coming up that might not be on the market yet.”

Even in hot, competitive L.A. real estate, independent agents such as Andrej Nagy of The Agency RE knows the importance of receiving and providing professional mentorship.

“My relationships with clients are extremely important,” he says. “But my relationships with agents on the other side of a deal are also important.” For REALTORS® like him, working smoothly with other agents is a privilege.

Doing so builds rewarding relationships while ensuring win-win transactions for everyone at the closing table.

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SUSAN VAUGHAN Top Agent Magazine

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SUSAN VAUGHAN As Broker/Owner of a boutique agency, Vaughan & Associates Inc., Top Agent Susan Vaughan is ranked among the top 150 producers out of 25,000 licensed agents in the Houston area.

Top Agent Susan Vaughan has made a name for herself as a Realtor who approaches every transaction with honesty, integrity and expansive knowledge of the real estate business. As Broker/Owner of a boutique agency, Vaughan & Associates Inc., Susan is ranked among the top 150 10 Copyright Top Agent Magazine

producers out of 25,000 licensed agents in the Houston area, and has also been recognized by the Houston Business Journal as one of its Top 25 residential agents.

Susan entered the world of real estate following a 28-year sales and marketing Top Agent Magazine

career in the hotel industry working with convention groups and negotiating contracts. “My late husband, Terry, and I opened Vaughan & Associates in 2002 with him running the business until 2007 when I left my hotel career and focused Top Agent Magazine

on real estate full time. My buyers and sellers appreciate my negotiation abilities,” says Susan, “because I try to exceed their expectations of the results from the transaction. I believe it’s one of my strongest skills.”

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Currently overseeing an equally-dedicated team of three, Susan specializes in the Lake Livingston area and its beautiful waterfront communities. “I work with a lot of people who are buying second homes, or retiring and moving to the lake,” she says.

Nearly half of Susan’s business is based on repeat and referred clients, a sure Copyright Top Agent Magazine 12

sign she is providing excellent customer service and inspiring an impressive level of customer loyalty. “I try to give the very best service I can,” says Susan. “It’s about more than just getting a sales contract, it’s about following through until the end, and watching out for your client’s best interests every step of the way, and that includes a lot of negotiations, whether it’s Top Agent Magazine

about repairs, or inspections or assisting appraisers.”

Susan works hard to stay on top of her game, and has a number of certifications and designations to her name, including Accredited Buyer Representative (ABR) and Resort and Second Home Specialist. Additionally, Top Agent Magazine

her expertise has landed her on the long-running American Dream television show as a real estate “power player” who appears each month to share content, properties, stories, and lifestyles of their city. “These power players represent the top Realtors in the 31 cities across the country,” says Susan, “and I’m proud to be one of them.”

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When she’s not working, Susan is passionate about giving back, and is currently a Trustee for the Coldspring United Methodist Church.

Past commitments include having been a charter member and long-term board member of the Coldspring/Oakhurst COISD Education Foundation, and also served on the board of Habitat for Humanity San Jacinto County.

Susan’s plans for the future are relatively simple: to continue helping as many people as she can, and to do so while providing the excellent client service that has become her calling card.

For more about Susan Vaughan, please call 936-653-3860 or email Susan@LiveAtLakeLivingston.com

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HOW TO STAY IN YOUR CLIENTS’ LIVES FOR THE LONG HAUL

One sign of a great real estate agent is there long list of loyal client following. Part of achieving a great referral base is being a great realtor during the transaction. But, that’s only half of the work.

To truly be your client’s realtor for life and keep them coming back to you as well as referring others to you, you have to stay in their lives past the transaction. Keeping in touch with your past clients can be one of the most important parts of your business, and one that many realtors tend to push to the wayside.

Do you stay in your client’s lives, or do you disappear? People refer people that they feel they know well and that they trust, people they consider friends. However, earning and keeping your client’s trust involves maintaining a delicate balance with how much you contact them. Experts recommend reaching out to your clients at least quarterly. But, it’s not just about how often you stay in touch. You also need to be mindful about how you are reaching out to them. Here are some tips on how to keep in touch with your clients for the long haul: Top Agent Magazine

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INDIVIDUAL PERSONAL CONTACT One of the best ways to keep in touch with your clients is to simply give them a call every once in a while. Follow up and see how your clients are doing. Offer them assistance if they need it. Personalized contact helps to ensure that you remain as important to your clients long after the sale as you were during the transaction. Giving your clients a call on special occasions such as birthdays or holidays also makes for a great personal touch.

Of course, nothing beats face-to-face contact. Stopping by to say hello can be a great way to keep in contact. An even better way to catch up and maintain that friendship is to set up a lunch or coffee date with past clients. Giving individual clients your undivided attention goes a long way towards maintaining that bond you formed during the transaction and earning your client’s loyalty and trust. Interactions like this make a lasting impression on your clients.

Of course, many busy REALTORS® may not have time to follow up with every client oneon-one. A great way to still give personal attention to your clients without meeting each and every one for lunch is to throw a client appreciation party. This allows you to get in some face-to-face time with each client and make sure they all get your undivided attention and quality time to catch up with you, even if it’s only for a short time.

Now, if you have a lot of past clients, this can be difficult to manage during one party. One way to get around the numbers problem is to organize smaller events based on client’s inter-

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ests. Instead of throwing one giant party, host a pool party for the families with kids or a wine and cheese get together for single clients. Hosting special events like these ones goes a long way towards keeping your contact with past clients more personalized and setting you apart from those businesses that simply send them a calendar once a year.

PROVIDE CLIENTS WITH USEFUL NEWS PROVIDE CLIENTS WITH USEFUL NEWS One way that many REALTORSÂŽ keep in touch with their clients is by sending them newsletters. This form of contact can be a double-edged sword. You want to make sure you provide them with useful information that reminds them of your value as a real estate professional.

Otherwise your communication will amount to nothing more than spam, and clients will think of you less as a trusted friend and more as a nuisance salesperson.

Clients react much more positively to communication containing information that is pertinent to their lives. Update your clients on what is going on in their local community and housing market. Demonstrate your knowledge about the community and the things that are important to your clients. Include information about local cultural events, community news, housing statistics, information on the mortgage market, home maintenance advice, home design tips, and anything else that your clients will find personally useful. Your clients will always be interested in value.

SEND CLIENTS MEMORABLE AND PERSONAL CARDS Sending your clients cards related to important events in their lives and letting them know that you remember those events and care will go a long way towards building and maintaining a close personal relationship with them. You want to make sure your cards stand out, though. Sending popular holiday cards can be a mistake, as they will most likely get lost amongst all of your clients other holiday cards and will be quickly forgotten. Instead send something more personal such as: HOME ANNIVERSARY CARDS: Send cards to each client on the anniversary of the closing of their home.

CONGRATULATORY CARDS: Remember important events such as wedding anniversaries, graduations, new babies, etc.

SPECIAL BIRTHDAY CARDS: Instead of just sending your typical birthday card, add something special to yours that will stand out. Include a $1 scratch off ticket or a $5 gift certificate to Starbucks. Make sure to include a handwritten personal note.

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GIVE CLIENTS AN UNUSUAL GIFT Make sure the gifts you send your past clients stand out. Send your past clients an odd gift at the beginning of the year or on a holiday. Think outside the box and send things like funny magnets, customized mugs, a personalized piece of wall décor, and other fun and unusual items. A great way to make your gift stand out even more is to include a funny note with it that will catch their attention as well as make them think of you. For example, one cute idea is to send clients a bag of popcorn with the note, “Real estate is popping, give me a call.” You could send a bag of goldfish with a note attached that says, “I’m fishing for your referrals.” Get creative and have a little fun with it, your clients will notice and remember you for it.

TAKE ADVANTAGE OF SOCIAL NETWORKS

Social networking sites make staying in contact with past clients in a more informal and friendly basis much easier. Connect with your past clients on Facebook. This will help you stay up to date on the important things happening in your pact clients’ lives. In return, it provides you a great platform for keeping those past clients up to date with what is going on in your business as well as keep in contact in a more informal manner. Use Facebook to remind past clients to check their basement after a heavy rain or that they can contact you for help during tax time.

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You can even organize your contacts on Facebook into customized lists such as “past clients,” “industry contacts,” etc. This will help you better manage your Facebook contacts.

This will also allow you to view specific news feeds based on these lists and send messages to a particular list of contacts. Don’t forget about the many other social networking sites such as Twitter or LinkedIn either. Utilize this technology to drive personal contact with your clients.

STAY ORGANIZED

No matter how you choose to keep in contact with past clients, make sure to be consistent.

Consistency will help you stay organized and diligent about reaching out to your past clients regularly. A tool used by many real estate professionals to stay organized is a customer relationship management solution. Whether you use one that is online or a computer software program, this will help you stay organized when managing your contacts and allow you to set notifications to alert you when you need to contact certain clients, send out gifts, plan a client appreciation event, and many other things throughout the year.

Staying organized and consistent in your contact with past clients will help you continue to build and manage your referral base, as well as open the door to repeat and referral business.

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How 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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