TORONTO 6-19-23

TORONTO EDITION

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WAYS TO GET YOUR CLIENT TO TRUST YOU

TOP AGENT TIPS AND QUESTIONS FOR CHOOSING YOUR LISTING AGENT

MILLENNIAL BUYERS: WHERE THEY ARE & WHAT TO KNOW RECONSIDER REFERRAL-ONLY WHEN PLANNING FOR THE FUTURE

COVER STORY

KIM HUANG

TORONTO EDITION

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KIM HUANG

CONTENTS 4) TOP AGENT TIPS AND QUESTIONS FOR CHOOSING YOUR LISTING AGENT

16) MILLENNIAL BUYERS: WHERE THEY ARE & WHAT TO KNOW

14) 6 WAYS TO GET YOUR CLIENT TO TRUST YOU

20) RECONSIDER REFERRAL-ONLY WHEN PLANNING FOR THE FUTURE

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Published in the U.S.

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Top Agent Tips and Questions for Choosing Your Listing Agent Now that you’ve decided to sell, it’s time to select the professional to help you market your property. Before meeting with agents, however, consider Top Agent Magazine’s tips for preparing yourself. Frist, ask yourself what kind of relationship you’d like to have with your listing agent. Are you seeking a casual, personable relationship and the latest marketing tools or are you interested in a more formal, traditional relationship and approach to marketing techniques? Next, populate your list of agents by attending open houses and asking for recommendations from recent buyers and sellers.

Finally, schedule your meetings at your home, where you’ll be able to gauge the chemistry between you and each agent.

During your meetings, expect any Top Agent to ask you several questions, but also consider discussing the following: 4

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Will you please describe your sales experience and local network?

Ask your Top Agent to describe recent listings and sales of homes comparable to your own. Ask about the sellers’ priorities, the original list price, market time and number of offers. Top Agents will also describe how well they are connected with other REALTORS® in the region as well as their contacts with relocation companies, local corporations and chambers of commerce.

Be sure to ask about each agent’s knowledge of how your market has changed over time and what has influenced change.

You’ll learn a lot by listening to How will you market the property? Each agents’ opinions. Top Agent has a unique set of online or local

marketing tools at his or her disposal. Some use lead-generation applications and nearly ever luxury agent take advantage of video. Even video marketing tools vary from agent-to-agent, however.

You’ll get to decide if you prefer an agent with higher-end video production and 3D Matterport tours or an agent with more intimate techniques featuring walk-and-talk style video tours.

What factors influence your list-price recommendation? Before an-

swering this question, most Top Agents will have several questions for you, including whether you’re more focused on a faster sale or a higher list price.

They’ll also educate you on how best to balance both market time and list price relative to sales histories your area.

Now that you’ve seen the home, what repairs or improvements do you recommend before listing? You’ll learn a lot by listening to agents’

opinions on your home’s sale potential with or without some improvements.

Most Top Agents will also recommend a full professional inspection prior to listing to avoid surprises during buyer inspection.

How will you help with staging? Some Top Agents will pay for part or

all of the staging costs. At a minimum, however, a Top Agent will have a staging professional or two in their partner network. While they’re at it, they may provide referrals for carpet cleaning, painting, gardening and other minor finishing touches.

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What attributes of the property will you want to highlight? Each Top

Agent will have a somewhat different answer to this question, but that’s a good thing! Even if you have your own ideas about your home’s greatest attributes, you’ll glean insight into the current market by considering different agents’ opinions. In learning their views, you may even change your mind about your home’s most marketable features!

What is your approach to Open Houses? How many agent-only Open

Houses will your Top Agent want to host? How many truly Open Houses?

Some Top Agents may even reveal a “swankier” approach to the Open House – such as an evening cocktail party or by-invitation “open” hours to which buyers visit along with the agent representing them.

Who will be our primary point(s) of contact from your office? This

important question will help you understand the scope of your agent’s practice. You’ll get to see if your agent runs a robust team with many hands on deck or if he or she works by close, one-on-one contact with each client.

Either approach is wonderful; you get to decide what suits you.

Now, let’s list!

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KIM HUANG

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Top Agent Kim Huang along with her husband Howard, focus their expertise on the Oak Ridges and Jefferson communities with an astonishing 90% of their business stemming from repeat and referral clients.

Diving into the world of real estate on a whim, Kim Huang transformed her part-time career into a full-time passion, driven by the desire to provide for her growing family. Beginning her journey in 2005, she quickly learned the ropes of the industry and later brought her husband, Howard, on board to form a dynamic team in 2017, just as the market took a nosedive. Together, they weathered the storm, bounced back, and continued to grow their business. Now, Kim and Howard focus their expertise on the Oak Ridges and Jefferson communities having lived in Richmond Hill previously and 8Copyright Top Agent Magazine

understanding the area well. With an astonishing 90% of their business stemming from repeat and referral clients, it’s clear that their dedication and resilience have paid off.

Kim’s unique approach to real estate sets her apart from the rest, as she believes in treating each client like family. “Every client we have is like an extension of our own family,” she says, ensuring they receive A to Z service and support. This personalized touch goes beyond just being an agent; Kim and Howard are there for their clients in every Top Agent Magazine

aspect of their lives, whether it’s related to moving, home maintenance, or even family matters. As their client’s progress through life stages, they continue to rely on Kim and Howard’s expertise for everything from first-time home purchases to investment properties, knowing that they will be there for them every step of the way.

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This duo employs a mix of traditional and modern marketing techniques to showcase their listings, ensuring they reach the widest audience possible. “We put it on the MLS, and before that we list it as ‘Coming Soon’ and send out flyers,” Kim explains. Additionally, they have embraced social media platforms like Facebook and Instagram,

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using them to share teasers of upcoming listings.

Not one to shy away from emerging trends, Kim even posts on TikTok, where she gives sneak peeks of homes before they hit the market. Meanwhile, Howard sticks to more face-to-face, belly-to-belly traditional methods, going door to door in the neighborhood to meet people, calling every homeowner in their listing areas. This blend of innovative and time-tested strategies helps their listings receive maximum exposure and attract serious buyers, Copyright Top Agent Magazine 10

further solidifying their reputation as standout agents in the real estate industry.

Kim is deeply committed to her community, both within her Vietnamese background and through her brokerage’s charity initiatives. She contributes to programs such as the Sick Kids Hospital by donating a portion of each transaction to the cause.

Additionally, Kim is actively involved in supporting senior homes and raising funds for those in need Top Agent Magazine

within her own community. When not hard at work, Kim enjoys outdoor activities, embracing each season with gusto. In the summer, she can be found playing golf with friends, going on camping trips, or enjoying water sports with her family. During winter, she delights in taking her children skiing, making the most of the colder months while staying connected to nature.

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As Kim and Howard look toward the future, they remain ambitious and focused on expanding their business. Recognizing the need for additional support to manage their growth, Kim plans to hire a marketing specialist and administrative assistant to streamline operations. Kim and Howard are constantly raising the bar, striving to achieve new heights while maintaining their commitment to clients and the community.

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For more about Kim Huang, please call 416-930-8124, email kim@teamhuang.com or visit kimandhoward.com www.

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6 Ways to Get Your Client to Trust You The word “REALTOR®” can leave a sour taste in some people’s mouths. Many of today’s home buyers and sellers grew up during the 2009 recession. They are wary of anything 14

or anyone who comes off as too salesy, and they want to work with individuals who they can trust.

But how do you prove to someone you’ve likely never met that you can be trusted?

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Put Testimonials or Case Studies on Your Website

When something goes wrong, own up to your mistakes. Don’t hide bad news from your clients. Be upfront and responsive.

Testimonials and case studies are social proof that you have both the experience and the skills to do the job your clients are hiring you for. People often leave testimonials when they are either incredibly disappointed or extremely happy with the service they were provided, so they’re a good indication to prospective clients of the treatment they’ll receive.

Case studies, which you can post on your blog or website, have much of the same effect, but even more than testimonials, case studies demonstrate your real estate and finance expertise because they explain how you achieved a specific set of results.

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Be Responsive and Accessible

Can your clients reach you easily? That doesn’t mean you need to be available 24/7, but you should respond to your clients within a few hours of receiving their message. When agents don’t respond to their clients’ calls or emails for days on end or fail to provide them with a direct line of contact, their clients’ experience can quickly become frustrating.

Agents are busy but so are their clients. If you constantly show up late to or reschedule meetings, your clients won’t feel like their time is respected or their business is valued. Make sure you set a realistic schedule for yourself rather than spreading yourself too thin.

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Be Honest and Transparent

Sometimes you don’t have the answer to a client’s question. Be honest about your strengths, weaknesses, and the limits of your knowledge. A good response might be, “I don’t know, but I can find out.” Be transparent with your clients, and they’ll respect you for it.

You should always act in their best interest.

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Go the Extra Mile

If you do the bare minimum, that’s what your clients will remember. Their experience won’t be memorable, and they won’t gush about you in online testimonials or in real life to people they know who could use your services. It’s that simple.

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Put Yourself in Your Client’s Shoes

Clients understand that you need to earn money, but that doesn’t mean they want to feel like they’re just a dollar sign to you. Be empathetic to your client’s concerns, even if you’ve heard it all before. Your clients should know that you are there for them.

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Be Consistent

Being responsive, friendly, and knowledgeable shouldn’t be an act. If you “turn on” your personality for clients and then suddenly become a different person when they leave the room, it’s likely that the cracks in your mask will eventually become apparent.

But “faking it till you make it” is so common it’s become a cliché. When we are starting out, we don’t always have the systems or resources in place to create a smooth client journey, from onboarding to closing, so instead we constantly try to reinvent the wheel. Give yourself time to pause, slow down, and reevaluate your workflow. Creating systems creates

consistency, and those systems can and should be constantly updated.

Developing trust between you and your clients will take time, but doing these things can give you a running start.

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Millennial Buyers: Where They Are & What to Know Homebuyers and sellers come from all walks of life. If you’ve been an agent for long, you’ve likely worked alongside a wide variety of folks—from first-timer homeowners and down-sizers, to second home searchers and those finally hunting for their dream home. While there is hardly a shortage of diversity in the housing market, there 16

is one generation that is making big strides in homeownership these days: Millennials.

Millennials can be loosely defined as those between the ages of twenty-two to thirtyseven. As you can see, this constitutes a wide swathe of the population. If you’re an agent who stands to learn a bit more about

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a demographic whose influence and homeownership goals are rapidly evolving, tune in below for a few pointers that can help you expand a segment of your clientele in the process.

Where do Millennials prefer to buy?

Many Millennials came of age during or immediately following the Great Recession, and as such, many of them relocated or returned to mid-size cities and smaller communities where the cost of living was most affordable. Of course, there are countless Millennials that call the U.S.’s major cities home—especially those in the

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tech industry. The good news is that you can court Millennial clientele no matter where you service area is located. That said, community amenities are of great importance to this generation. They value public transportation, green space, and entertainment—from coffee shops and topnotch restaurants to farmer’s markets and boutiques. Emphasizing those attributes will be key in selling to Millennials and locating neighborhoods they’re most interested in.

What sort of communication do Millennials prefer?

Most Millennials are digital natives, or close to. That means they grew up learning

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how to navigate digital spaces, and prefer to communicate through mediums like email, text, and social media. This isn’t to say that Millennials aren’t good communicators, but they’re often on the go, and have learned to research and shop online. To accommodate this, it’s best to build a presence across the most popular listing portals and social media platforms. Although, it’s not enough to establish a site and wait for the calls to come in. Responsiveness is a key factor for Millennials, who expect speedy response times. Make sure you’re checking your inbox frequently, responding accordingly, and engaging with your audience online. This will let Millennials know

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that you’re savvy, available, and understand the value of their preferred method of communication.

Are Millennials ready to buy?

It’s a common misconception that Millennials are uninterested in the rite of passage of purchasing a home. While Millennials maybe waiting a bit longer than their parents did to buy a home, there are good reasons to explain this phenomenon. For starters, Millennials entered the job market during the downturn, which means they are more conservative when making big purchases, and have to play catch-up to reach a sound

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financial position. Likewise, student loan debt has proved a major financial inhabitation for Millennials. Instead of socking away a few hundred a month to save for a home, they’re forking over that cash to pay down their educational loans. How does a Realtor compete with this reality? For starters, a bit of understanding goes a long way. Work with your mortgage partners to find financing possibilities that cater to this younger demographic. Recognize that Millennials—like most buyers—have some trepidations when buying a home.

Also consider fielding Millennial clientele with the long view in mind. You might be Top Agent Magazine

courting them for months or more until they’re ready to take the plunge, but they’re also famous for their reviews. When a job is done well, Millennials shout it from the rooftops—or at least share it a dozen time from their phone.

As time passes, Millennials will continue to dominate the marketplace when it comes to buying and selling homes. A little self-education on this powerful demographic can go a long way. If you know your clients and your audience, you’ll be in a far better position to serve their interests and make a customer for life.

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Reconsider Referral-Only When Planning for the Future

A 100% referral rate is a testament of client happiness. But even a 30% referral rate is proof of client satisfaction. It’s all relative, say some agents. One number pays tribute to past success, which is certainly a story worth telling. But the other might better predict the future. Many agents plan for the idea that 20

working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector.

Unless you are clairvoyant enough to flawlessly predict every market change or every

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Many agents plan for the idea that working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector. life change that your clients and referral partners may experience, it’s wise to maintain an active marketing presence. The reasons vary, however, depending on the goals and trajectory of each individual’s business.

If long-term success, a growing team, a legacy or expansion into new areas are not priorities, then working a sphere of influence may be enough for some agents, especially those who may be in the industry mostly for the love of the business. But for a majority of agents, no matter how much they love their work, their real estate and mortgage businesses are careers, first and foremost.

Let’s start with the team-builders and mentors. Agents and brokers who are building teams are wise to invest in business marketing, advertising and community outreach. Ty Hutchins, who owns and operates Ty & Company Real Estate in Colorado’s Front Range, says that, while she could personally live off referrals alone, her goal is to build up her agents. “I do the marketing piece for my team, so I can help them succeed,” she says. That marketing includes running commercials on TV and in movies theatres, as well as lead generation that identifies potential buyers, sellers and Top Agent Magazine

investors between the Colorado Springs and Denver markets. Her team’s goal, she adds, is to promote their reputation of being honest, hardworking professionals with the reach of a major brand but the personalized approach of a boutique.

Then there are the growers. Khrista Jarvis and Nicole Jung of The Khrista Jarvis Team in the San Francisco Bay Area, are on a considerable growth track. “We’re the #1 team in our area and the top team in Compass Real Estate nationally,” explains Khrista. While high marks for service on behalf of their clients have led them to these heights, they know that they must continue to evolve and market their brand. “We do a good deal of social media marketing for our listings and for our business,” she says. Their names, therefore, are frequently linked to sentiments of trust, dependability and market knowledge, both in their marketing and in their reviews.

Next, there are those who weathered the worst of times. Susan Roche entered real estate sales in 2003, following several years of property management in North Carolina.

The key to her sustained triumphs through major market swings lies in her long-range planning. “If the market starts to dip or fall,

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I have safety nets in place,” says Susan Roche, team leader of Simply Real Estate, based in Charlotte. “When it’s a seller’s market, I still plan for a buyer’s market and when it’s a buyer’s market I plan for a seller’s market..” In other words, no matter how comfortable her existing work may feel, she networks consistently. She also employs a full-time marketing director who leads several projects including ongoing research, events and social media exposure in addition to listings marketing. By staying ahead of market changes, Susan knows she can unfailingly represent her clients’ best interests while still maintaining a safety net for her business.

Even professionals with more than three decades’ experience and deep referral networks know the importance of business

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marketing. Cathy Richards, co-owner with Nancy Dalaska of Epic-Wasatch Homes in Park City, UT, entered real estate in 1987 and still draws at least a fifth of her business from lead generation, social media marketing and community outreach. Her business partner, Nancy, adds that real estate is about much more than their own business. “We love collaborating and brainstorming with other agents to help them prosper,” says Nancy. “We believe the healthier the market, the better we all are.”

Regardless of market conditions, even the best reputation can’t guarantee long-term success. To sustain and grow, it’s wise to feed your business by increasing exposure, remaining flexible and maintaining systems for customer service, networking, research, marketing and lead-generation.

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Laughs!

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