Train your agents to start a dialogue with potential buyers and sellers that builds relationships and establishes trust.

Much has changed in the industry in recent years for real estate professionals and or buyers and sellers. Fortunately, this market also provides a plethora of opportunities for agents who are ready to put in the work to grow their business. The same holds true for buyers. Buyers are faced with high interest rates, low inventory in some places and high prices, but there are still opportunities to work within, especially as inventory rises.

This is where buyers should look to their real estate agents for the knowledge they possess and begin having conversations to set up a plan. Likewise, this is where agents can look to their brokers for guidance on how and where to gain the knowledge they need to stay competitive as the market continues its shift. I’m encouraging my family of relentless sales professionals to follow a series of action items to help them identify inventory and assist buyers with developing a winning strategy.   

Focus on Your Sphere 

First, and most importantly, I’m counseling my agents to start conversations with people in their sphere of influence. Even if they’re uncomfortable doing so, I urge them to make phone calls. They can start off the conversation by simply asking if the homeowner wants to sell or if they have been thinking about selling. Even if the homeowner objects or says no, a series of follow-up questions can set the agent up for a possible future listing. Bottom line: A conversation, especially one that addresses today’s buyers’ concerns around managing the current market, is critical to building a relationship, establishing trust and closing more deals.  

Do Research on Potential Sellers

The second action item I have for agents is to look at owners who’ve been in their homes for more than 15 to 20 years. Again, it’s about starting a conversation. The agents should inquire about lifestyle or familial changes. This isn’t a new tactic, but it is a fundamental practice that works in any market, especially the current one.

In the past few years, investors bought up up hundreds, if not thousands, of properties. With the market changing course, investors could be potential sellers. It is time for agents to do research, find information about investors’ portfolios and then call them to see if they’re looking to leave property management behind or trade up to a like-kind property through a 1031 tax-deferred exchange.

Focus on the Online Experience

Lastly, in an age where the majority of buyers and sellers begin their real estate experience online, it is critically important that agents audit their social media accounts and landing pages, ensuring that the content is relevant, reflects today’s landscape and will influence viewers to start a conversation offline.

The counsel I give agents on these action items depends on their level of experience, but all our agents are encouraged to start conversations. What we have seen is that most everyone in the Century 21 Hansen Realty family is having success starting conversations, explaining the current market to buyers, and offering ways to win and get to the closing table. What they’re learning firsthand is that a lead without a conversation is simply data. A lead with a conversation is a relationship.

Like we all know, real estate is a relationship business, and lifelong clients who value and trust you only come as the result of conversations.

National Association of REALTORS®
Reprinted with permission

Born from a health crisis, the remote service offers agents and sellers an affordable option for making a listing sparkle.

Under conventional circumstances, Jill Friedland, an agent with Weichert, REALTORS®, in Warren, N.J., would have a stager come to her clients’ home to spruce it up before it goes on the market. But like so much else in real estate, COVID-19 changed the staging playbook. In April, she had to come up with a novel approach for clients who wanted to list with her but didn’t want anyone in the house to stage it. And she did: Friedland hired a design expert who helped the sellers rearrange furniture and accessorize rooms without setting foot inside. In fact, the stager was more than 700 miles away.

As stay-at-home orders earlier this year forced many aspects of real estate transactions to go online, stagers began offering virtual consultations to agents and their clients. Staging from afar involves sellers taking unstaged photos of each room in the home and sending them to the stager, who analyzes the pictures and compiles step-by-step guides that help sellers style the property. The stager then meets the sellers over a platform, like Zoom or FaceTime, to provide feedback and evaluate progress.

The online consultation results in a customer service experience that is as personalized as it is safe. “It gives sellers professional guidance on what to do or not to do, as well as an understanding of why certain recommendations are provided,” says Jennie Norris, chairwoman of The International Association of Home Staging Professionals.

Even as business activities return to more normal levels, remote staging may be a trend that lasts. While the coronavirus remains a risk, these services will continue to appeal to some sellers, says Audra Slinkey, president and founder of Home Staging Resource, a training center for the staging industry. “Necessity is the mother of invention,” Slinkey says. “Staging isn’t going away, and we are proving it can be done in other ways.”

Friedland learned about remote staging when she came across a social media post from an old friend, Liz Reid, who had lived in Friedland’s New Jersey town before moving to South Carolina a few years ago. Reid, founder of Upstage Interiors in Charleston, S.C., said she was continuing to offer staging services through the pandemic. “Liz suggested an online appointment with my clients, and she explained to me how it would work,” Friedland says. “I thought it was a unique workaround to stage a home during the lockdown.” So, after the sellers sent Reid unstaged photos of their 1,500-square-foot, three-bedroom home, she developed a detailed seven-page staging report and, over three days of video conferences, walked the sellers through her suggestions room by room.

The sellers moved furniture around themselves following Reid’s recommendations. “The report was so detailed,” Friedland says, “but my clients weren’t overwhelmed when they saw it. They were grateful for an action plan they could execute.”

The guiding principle Reid conveyed to the sellers was simple. “Let’s show how much space you have, not how much you can fit in each room,” Reid recalls. “Each room should have a purpose, a focal point, and an easy pass-through.”

Reid offered the service for free because it was the first time she and Friedland had worked together, and the remote concept was new. Reid now typically charges $250 for remote staging. Friedland says she intends to pay Reid’s fees and provide the service no cost to future clients if they’re willing to do the hands-on work at home.

This approach will provide many stagers with another source of revenue, Slinkey says. They’ll pitch free video consultations for 30 or 60 minutes to introduce agents and their sellers to the new offering. Then, they’ll charge a fee for a larger service package, including longer, more detailed consultations and do-it-yourself staging guides.

Friedland says Reid’s guidance helped her sellers go under contract after just one day on the market—and the offer they accepted was $8,000 above the $530,000 list price. “The clients used all my suggestions, and the transformation was incredible,” Reid says. “We created a warm and inviting space. [Remote staging] is a great added service to both the agent and home sellers, especially during these unique times.”

Some sellers either can’t or don’t want to do the work of hauling heavy furniture in accordance with a virtual stager’s instructions, Friedland says. She recently presented the idea of using remote service to sellers who are in their 60s, but they declined. Instead, because New Jersey had begun reopening its economy, the sellers opted for a stager to come to their home. Friedland says clients in her town typically pay an $800–$1,000 fee for an all-day, in-person staging job.

But for some clients, Friedland believes virtual staging is here to stay. “I will offer it to every seller going forward,” Friedland says. “For people who don’t want others in their home, moving their stuff, this is a great option.”

New Staging E-Design Boards

Accessorizing is important. During remote consultations, stagers may present e-design boards to guide homeowners through the process. These boards offer images and online shopping links for products to enhance a listing. Home Staging Resource’s Audra Slinkey teaches a course for stagers on how to create e-design boards using a program called DesignFiles.

“We like to use these boards as inspiration,” she says. “Stagers can send them to their clients to give them an idea of what paint or lighting to buy. We like to give examples at different price points, too.”

National Association of REALTORS®
Reprinted with permission

Whether it’s spectacular views or open floor plans, learn how apartments and condos are virtually showcasing their high points to potential buyers and tenants in a social distancing world.

Key takeaways:

• Some buildings are rolling out new services to help tenants stay safe during the pandemic.
• Wellness amenities like a greenhouse, indoor pool, or state-of-the-art gym have become premium.
• Keep video property tours short, as consumers are experiencing internet fatigue while isolating during the pandemic.

In the era of COVID-19, real estate pros are relying on technology more than ever to show properties to potential buyers and renters. The same is true for multifamily buildings. It’s less common now for customers to venture into sales offices and units for tours. Why take the risk when they can get a close-up view of that marble countertop or the dimensions of that master bathroom remotely?

FaceTime and Zoom meetings and tours; customized videos with an audio component; websites with floor plans, photos, and overhead drone shots; and Instagram posts, personalized emails, and text messages are how property managers are reaching out to prospects today.

While there’s an agreement that technology—no matter how cutting-edge—won’t produce an experience comparable to an in-person visit, it’s considered a good substitute for showing available units and starting a dialogue.

“Many renters use the tools to narrow their choices, such as which line (layout) or view they want in a building,” says Christina Pappas, district sales manager with The Keyes Company, a brokerage in Miami.

But how do you make the building you represent stand out among the rest?

Creating a Compelling Online Presence

One apartment hunter, Joel Jeffries, who works in financial services in Chicago, leased a one-bedroom apartment at Optima Inc.’s 57-story Optima Signature tower downtown after taking a virtual tour. “The apartment had all the features on my wish list: floor-to-ceiling windows, washer and dryer, and access to a Whole Foods without going outside. And it has an on-site private chef,” he says. Since moving in on May 1, he’s found it “better than expected.”

Kattia Halaoui, business manager at Optima Signature, says their prerecorded and live guided tours have attracted many of their most recent leasees. Plus, they’re offering new services to help tenants cope with the pandemic, such as white-glove package delivery to residents’ doors rather than to a shared package room, and the option of shorter leases.

The new virtual real estate marketplace is expected to gain traction for additional reasons: More consumers are becoming accustomed to conducting business this way, and with more time at home due to the pandemic, a greater number of people are reconsidering where they live, says David J. Tufts, chief development officer and managing partner for ATProperties/Ansley Developer Services, which helps market and sell new-home developments. It’s marketing the Seven88 West Midtown condo building in Atlanta, and Tufts says they’ve found Evolution Virtual’s photorealistic renderings to be a helpful web tool.

Some companies say their sites have never experienced more web traffic than they are today. “We’ve seen a tenfold increase in interest,” says Todd Richardson, whose company developed 327 Royal Palm in Boca Raton, Fla. “For us, some interest stems from those living in the Northeast who want to get away from their high-density areas.”

Technology Is a Starting Point

Residential development companies building or representing new condos and apartments are used to starting a conversation with consumers through renderings, floor plans, photos, and virtual models to prelease or sell. Today’s goal is to create the right image in buyers’ and renters’ minds.

Before the pandemic hit, Philadelphia-based Dranoff Properties presold $30 million worth of real estate at its latest downtown building, Arthaus, which will be completed by late 2021. Potential buyers could see plans and materials and meet sales staff in person—key accommodations considering unit prices soar into the millions, says Carl Dranoff, president and CEO. Now, without being able to “kick the tires,” many prefer to reserve a unit and finalize a sale later, says Marianne Harris, vice president of sales and marketing.

Harris and Dranoff consider the current era an important time to educate prospects about the building being “a health and wellness icon.” To do this, the company hired a firm to make a professional video that showcases the panoramic views that will be visible from all floors when the building is completed by late fall 2021. The video also highlights the amenity spaces that will occupy two levels. Among the shared areas that relate to health and wellness: a commercial-size greenhouse; 75-foot-long indoor pool; individual garden plots for owners who want to grow food and flowers; a shared lawn area for socially distant yoga, meditating, or relaxing; a dog run; a culinary kitchen; and a state-of-the-art fitness center.

Adam Adache, a broker and developer for 30 Thirty North Ocean, a luxury boutique condo project in Ft. Lauderdale, Fla., has come to a similar conclusion that technology is useful for starting the process, but not ideal for closing an expensive listing.

“Nothing beats the experience of walking through a unit,” Adache says. Staff use a commercial-grade disinfectant throughout the property daily, and if potential buyers now want to come through the building, they’re required to make an appointment and wear masks, and large parties aren’t allowed.

Other Necessities

To some firms, being successful in the COVID-19 era means creating a virtual presence with the human touch. RMK Management Corp., which manages apartment rentals throughout the Midwest, updated its virtual tours by adding in a leasing consultant who can connect with a prospect by phone, through an app, FaceTime, or Duo, and walk through a staged unit.

“It gives a face-to-face connection and interaction that’s important and leads to greater success than a vacant apartment without a personal tour,” says Diana Pittro, executive vice president. The company also provides prospects with links via social media, allowing them to join their virtual events—such as bingo or reading to children—that they host for residents at their properties.

“It helps engage them early,” she says. For buildings still under construction, they post videos of the work in progress—also with a sales consultant in view. “People love seeing how an indoor pool is coming along,” she says.

Salespeople helping to market units at Porte, a two-tower, mixed-use development constructed by The John Buck Co. and Lendlease Development in Chicago, use virtual online video tours from Realync, which offer a realistic sneak peek inside units. And a QR code posted outside their sales office allows a passerby to take a tour from their phone. “If a potential renter wants to see something else, it’s easy for us to take another video,” says Ariana Rasanky, senior vice president and head of residential operations for The John Buck Co.

When the Fairfield, N.J.-based Woodmont Properties recognized the need to focus on what it could do through technology, it added virtual tours and beefed up its website, says Louis Devos, vice president of property management.

Among its newer tools are Matterport 3D videos, which can be accessed with an iPhone and offer extra details, such as room dimensions. Staffers also appear in videos to lead prospects “almost by the hand to look together at a unit or amenity space,” Devos says.

The company began to virtually stage apartments with technology from RoOomy, a virtual design, staging, and 3D modeling service. “Our marketing is pulling in almost as many prospects as it did pre-COVID-19,” he says. They’re averaging 20 leases a week—sight unseen—a higher closing rate than they previously had.

It’s also important to remember some home shoppers may have online fatigue, so keeping videos and webinars short is essential, says Henry Torres, president and CEO of Astor Development, which developed Merrick Manor, a condo and rental building in Coral Gables, Fla. They keep their Zoom calls to under 30 minutes to maintain interest.

Continuing to be innovative is also key. Ivan Ramirez, vice president of sales and broker-associate with One Sotheby’s International Realty in Miami who’s helping to sell the Royal Palm buildings, has started to invite fellow brokers and salespeople in his market to online Zoom breakfasts followed by a Q&A. His company makes it more tempting by delivering breakfast to the homes of participants, including champagne, fruit, and croissants. “It’s a way to thank them,” he says.

Pappas, also based in Miami, emails gift cards to prospects who are among the first to sign up for her open house–style virtual events after receiving social media invites.

Long-Term Prognosis

Many real estate pros who sell and rent units in multifamily buildings anticipate that prospects will continue to do the majority of their home searching online to save time, then look in person at what seriously piques their interest.

“I think it will remain a very popular way to shop and filter information,” Ramirez says. He also anticipates more questions related to safety, social distancing, and proximity to outdoor spaces.

One thing that won’t change, Tufts says, is the importance of follow-up to “stay close to buyers” through ongoing conversations.

Will lower-density multifamily buildings gain demand?

Multifamily residential buildings have traditionally thrived with high density, housing as many people as possible in a relatively small footprint. This has worked well due to high land and construction costs, especially in large cities. But whether consumers will shy away from mega-buildings in favor of units in lower-density buildings due to COVID-19 has yet to be seen. Down the road, developers may choose to group several smaller buildings together to comprise a community, ensuring greater health safety, says Kenneth Perlman, a principal with Irvine, Calif.–based John Burns Real Estate Consulting. Smaller buildings will also mitigate the risk of spreading pathogens in cramped elevators; some units may even have private elevators. Low-rise building developers may also consider the throwback design of outdoor staircases that lead to upper floor units. The emphasis will be on fresh air and open connectivity rather than enclosed spaces, Burns says.

National Association of REALTORS®
Reprinted with permission

Key takeaways:

• Demand for gardens and other outdoor spaces for lounging, cooking, and dining has surged since the coronavirus pandemic began.
• Gardens require constant tending to remain viable, even through less-active winter months.
• Don’t treat all plants the same. Vegetables, shrubs, and other greenery will need different kinds of maintenance.

Before COVID-19 hit, millions of Americans had never gardened. With more time at home this spring, they planted perennial beds and borders, vegetable and herb patches, and fruit trees to improve their yards’ aesthetics and provide food for their families. They also may have constructed outdoor spaces for lounging, cooking, dining, and to simply have a place to breathe fresh air.

“I’ve never seen anything like this in my 42 years in business,” says Sacramento, Calif.–based landscape designer Michael Glassman. “Homeowners who never planted anything were freaked at the thought of going to the grocery store. They preferred to stay home and garden.”

But unlike many of the rooms in our homes that don’t require frequent attention, gardens need active involvement to see them through to the end of the season and over the winter.

As summer winds down, many new to gardening are asking what they should do now.

Novices may have encountered problems of overgrown shrubs, half-eaten tomato plants, and hostas with holes that rabbits or deer feasted on. Do they rip out the dead ones or grab their shears to prune? Did they overwater and so now look to install a better irrigation system? Or maybe homeowners are wondering what to do before the season’s over, so they still might enjoy fall vegetables, like beets and broccoli, and perennials, such as coreopsis and astilbe.

Help your clients who were bitten by the gardening bug so that they don’t get discouraged. Here’s what Glassman suggests heading into the fall and winter months.

Deadhead perennials. When perennial flowers have finished blooming, cut off old stalks or stems, which is called “deadheading.” This keeps them healthy and helps them to regenerate more flowers next season, says Glassman. He’ll do this at least once a week with his finished stalks.

Prune and transplant overgrowth. Plants and bushes require different types of trimming—think of it like a fall haircut. For example, a lilac bush should have its old flowers and stems cut to thin out the growth, allowing light into the center of the bush. This will allow it to grow bigger and fuller next season. For a pear tree, thin out crisscrossing branches and carefully shape the tree. Hydrangeas should be heavily cut back to keep them from getting too tall. Overgrown hostas can be transplanted to another part of the yard after they finish blooming, usually during late fall. Glassman says it’s best to call a licensed arborist to safely prune larger trees.

Mulch plants to retain water. Using an organic material, such as wood, bark, or straw, homeowners should mulch flower beds and around trees to help them retain water, keep down weeds, and prevent the soil from drying out. It also curtails ground temperature fluctuations, which protects plants over the winter. Mulch will give gardens a nice professional look. Many communities offer mulch at a reduced price, or even for free, so check with your municipality’s building department. The best times to mulch are fall and spring.

Set up a drip irrigation system on a timer to water plants. This will help prevent overwatering, which is much more common than underwatering, Glassman says. The system can be hooked up to a soaker hose and uses a timer to regulate watering. A good rule of thumb is to water early in the morning before the sun is high in the sky, causing the water to quickly evaporate. A homeowner should water daily for the first two weeks after planting, then slowly scale back to every other day. At the end of the season, be sure to unplug hoses and other systems so they don’t freeze and burst.

Keep pests away. New gardeners often learn that certain plants and flowers in their gardens extend an invitation to bugs. If you’re seeing partially or completely eaten leaves and stems, you’ve got company. Spray with insecticidal soap or use Neem oil rather than a chemical, which, Glassman says, “defeats the purpose of growing your own healthy vegetables.” Use them early in the morning or after dusk so you do not damage the plants. If you get aphids, consider releasing ladybugs in the morning or evening to prey on them, he suggests.

Deter larger wildlife. To control voles and gophers, dig down into the ground two feet and lay heavy-duty wire mesh, or build a raised planter at least 18 inches high that’s filled with a quality, organic planting mix. This keeps animals from digging up and eating plant roots. A homeowner could also go with vegetables and flowers that are known to be more animal resistant such as rosemary, lavender, thyme, and society garlic.

Order bulbs to be a step ahead for next season. Now is the time to peruse garden centers and online garden retailers for spring bulbs. Homeowners should plant in the fall, before the first frost arrives. Among favorites to consider are allium, tulips, daffodils, anemones, and irises. Many experienced gardeners like the look of a big visual display of the same type of bulb, which requires larger orders. For ideas, look online at the displays in the famous Keukenhof Garden in Holland.

Try raised planters or horse troughs. Rather than planting directly into the ground, raised “containers” help improve soil drainage—it also means less bending and sore backs. When thinking ahead to next spring, Glassman recommends planters or troughs that are at least 18 inches high to discourage snails and slugs from climbing in. He also suggests cutting one or two drainage holes in the bottom for water to seep out and filling them with a light, organic planting mix. “Be sure to set your vegetable garden where it will get a least five hours of sun each day,” he says. “Add in some nasturtiums or marigolds as a way to gain color and edibles at the same time,” he says.

Remember, there’s no such thing as a black thumb. “Everyone can be successful. It just takes time and patience,” Glassman says. “Don’t be afraid to experiment with different plants—it should be fun, not stressful. A cliché, but Rome wasn’t built in a day and neither is a successful garden.”

National Association of REALTORS®
Reprinted with permission

Clients feeling cramped at home? These tips can help open up a room without knocking down a wall.
Clients feeling cramped at home? These tips can help open up a room without knocking down a wall.

Bring nature indoors. Add plants and use natural textures in furniture to tie indoor decor to the outdoor view that’s visible through the windows that aren’t blocked by curtains.

Accentuate the vertical. Draw the eye upward so a room looks more spacious. Add a bookshelf that reaches to the ceiling. Install vertical shiplap or wallpaper with vertical stripes. Hang a pendant light fixture.

Consider “see-through” furniture. Choose chairs and sofas with visible legs instead of furniture with skirts that reach the floor. This allows you to see under and around pieces so they appear to float in the room rather than dominate it. Glass coffee tables are a good choice, too.

Lighten up surroundings. We all know white walls reflect light and makes a room look bigger. But why stop there? HouseLogic recommends painting walls, ceilings, and trim the same shade of white to present a soaring, bright space.

Go big with accents. Many people think small when designing a small room. Instead, add a couple of oversized accessories, like a big piece of art or a single large chair. A lot of little objects make a room appear cluttered while one or two big ones make it feel more spacious.

Get away from the wall. Create a central layout instead of pushing a sofa up against the wall. When there’s a wall right next to a piece of furniture, your eyes are drawn to the wall, which can make the room seem more cramped.

Simplify the color scheme. Use a monochromatic color scheme for walls, furniture, and accessories. When objects are a similar color, your eye doesn’t dwell on each one but rather sees them in a unified, uncomplicated form.

National Association of REALTORS®
Reprinted with permission

Skip the curtains. Curtains block natural light and the view to the outdoors, making a room feel smaller and darker.