Artwork

Sisällön tarjoaa D.J. Paris. D.J. Paris tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.
Player FM - Podcast-sovellus
Siirry offline-tilaan Player FM avulla!

Why You Should Become A Lifestyle Consultant • Monday Market Minute • Carrie McCormick

34:41
 
Jaa
 

Manage episode 355900048 series 1449194
Sisällön tarjoaa D.J. Paris. D.J. Paris tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.

In our February episode of Monday Market Minute, Carrie McCormick from @properties discusses how realtors become lifestyle consultants and how important it is to have a conversation about client’s lifestyle too. Carrie also talks about the importance of negotiation as an educational tip. Last, Carrie shares three tips to use during negotiations with a client.

If you’d prefer to watch this interview, click here to view on YouTube!

Carrie can be reached at carrie@atproperties.com or by phone at 312.961.4612.

Please follow Carrie on Instagram by clicking here.

This episode is brought to you by Real Geeks.

Carrie McCormick D.J. Paris Monday Market Minute

Transcript

D.J. Paris 0:00
What if you consider yourself more of a lifestyle consultant than someone that only helps people buy or sell homes? How would that change your business? Well, we’re going to talk about that today. Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren’t converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solution so that you can easily generate more business. There agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod and now on to our show.

Welcome to keeping it real, the largest podcast made by real estate agents and for real estate agents. My name is DJ Parris. I’m your guide and host through the show today on the show is our monthly series called The Monday market minute with Carrie McCormick from the Carey McCormick Real Estate Group with at properties here in Chicago. Carrie is a top 1% producer here in Chicago with over 20 years of experience helping buyers sellers and investors in fact, past 12 months out of number up now up to 40 Almost 47,000 realtors in our in our area. Carrie is routinely in the top 15 of highest producers and rising not 15% Literally the top 15 out of 47,000 producers so she is a true superstar and an expert in everything from first time homebuyers, veteran investors, and luxury properties. She also works with a lot of developers and is often chosen to represent these high end developments, please visit Carrie at our website, which is Carrie McCormick r e.com. Also, please please please follow her on Instagram I she has she routinely gets awards for having one of the very best realtor IG accounts. So please, let’s all check out and you can get inspiration from some of the posts that she makes. Her Instagram is as at Kerry McCormick. That’s MCC o r m IC K real estate. I’ll have a link to that in the show notes. You don’t have to type it in. But Carrie, welcome once again to the show.

Carrie McCormick 3:00
Thank you so much. I’m actually impressed that you remember how to spell my name. There’s a lot of CS in there. There’s a lot of there’s there’s a lot. So thank you.

D.J. Paris 3:10
I just recently did an episode and I don’t think it’s released yet. But by the time this one releases, it’ll it’ll be released. And I literally got to the end of the interview, which was over an hour. And I realized I had called the person the wrong first name. And I said, Did I do that throughout the interview and he’s like, Yeah, budget. So I try to now be a little bit more aware of people’s names, but it has happened. So I am just glad to to remember you’re not that I would ever forget your name. But it is funny. Sometimes it happens. So Carrie and I are actually before we have a different topic that we want to go over today, which I think is going to be a great one around negotiation. But before that I was we were actually I was actually asking Carrie about our business. And she was telling me a scenario about a client that was interested possibly in moving and selling their existing home. But they were locked in at a very, very low rate with you know, a lot of us refinanced in the last several years, or we bought properties at you know, 3% rates, or 4%, or whatever it was at the time. And obviously that makes it sometimes more challenging when somebody today then wants to sell and is now going to maybe get a five and a half percent rate or a 6% rate or, you know, whatever it might be today. So, So Carrie, let’s talk about that. Because I think this is happening to a lot of agents where they’re just their clients are like, I don’t want to give up my rate. Yeah, and

Carrie McCormick 4:33
it’s it’s a real scenario. And I met with a client that asked me to come to their home. Obviously they wanted to sell their home or they’re thinking about selling their home and we just got into the nitty gritty of what they were looking to do. And he kind of barked back at me and he said, Well, you know, I’ve got a 1.875% rate interest rate 30 year fixed on this house. which was mind blowing, which I’ve never seen that before. But he said, he looked at me said, Well, why should I sell my house, it does not make financial sense for me to sell my house. And he went through, he was a financial guy. And he went through like all of his scenarios, and the cost to carry and appreciation and all of this stuff. And I’m just looking at him. And you know, as when he got done talking about his scenario, I just looked back at him. And I said, you asked me to come to your house. You know, you, you invited me here to talk about selling your home. So put the interest rate aside, right? That’s something I can’t change, or, I mean, it’s it’s real, is why do you want to move? Why are you thinking of moving, and then we started in this conversation about, you know, what their next steps are in life and why they’re moving kids are out of the house, obviously, the house is too big for them, they want to travel more, they want a lifestyle, where they can just lock the door and walk away and someone’s handling their packages, they don’t have to wear it worry about the roof, or, you know, water leaks, etc. So then we started in that conversation, which is the real reason that they want to move, right. And I said to them, and this is where as you know, realtors, we become consultants to our clients, you know, and it’s kind of like a lifestyle consultant, you know, of, okay, well, you have a choice, you can either keep the big house with your 1.875% interest rate, you can rent it out, right, then that comes with a whole slew of issues and problems, etc. Or you can stay in this house and travel and, you know, have a house manager and worry about your leaks and your roof, etc. Or you give up that interest rate, and you start living the life that you want. And you know that, you know, 6% interest rates aren’t going to be around forever, will he ever get that 1% Whatever he had absolutely not. But that’s a trade off. Right. And that became a discussion, which was kind of like a therapy session for them. And they have not decided yet what they’re going to do that was just the other day, but that’s what made me think of that is, you know, it’s it’s having these, you know, conversations with our clients of, of their lifestyle and what they want in their life. And I think that’s become more important to buyers and sellers. These days. It’s not just a house, I mean, it really is a home that old saying, and it’s how you’re going to live your life and, um, and what’s important to you.

D.J. Paris 7:30
Yeah, and there is sort of a, a, I don’t want to say it a reckoning but but a decision that ultimately they have to make where they have to just be willing to either give up the rate or not. And and that can seem like a big decision. And it can seem like Well, that just doesn’t make sense, we’ll just stay. And then you have to sort of suss out the other reasons, like you were doing about why they may still want to consider doing that. Because it’s not necessarily a bad financial decision, it just doesn’t feel good to go from one rate to another, but also to it’s, it’s like, people don’t, especially for the agent, sorry, especially for the buyers that in the last few years, wanted that that had these these rates that they were pre approved for and didn’t get the homes that they wanted. They I could even see that being an issue to where somebody’s like, well, now I can’t afford as much as I could two years ago when the rates were at 3%. And but then the other thing is like, well, they don’t maybe think that or they just wouldn’t know that people who did get homes at that time oftentimes overpaid. And so maybe kind of washes itself out a little bit. If the interest if they buy something today and the interest rates higher, and then in two years, maybe they refinance. Do you do you end up having a lot of those conversations too, with people like Well,

Carrie McCormick 8:49
yeah, all the time. Yeah, it’s, and that’s why it’s important for us as brokers to do our homework to and just coming up with solutions and having these conversations with our clients. And that’s goes into also one of my I’ll go through my negotiation tips. But, you know, there’s a lot of egos too, right. And you know, with clients either who didn’t win the House want to win the house didn’t get the interest rate, whatever, you know, everyone wants to feel like they won and, you know, boils down to their ego. So it’s understanding your, what moves your clients, what drives your clients, what’s important to them, and having those conversations around there. So I may take a therapy class of how to or psychology class of how to, you know, talk with people a little bit more about this, but it’s, it’s educational, it’s, it’s fun.

D.J. Paris 9:39
Well, yeah, let’s talk about negotiation. So you obviously negotiate more than just about any realtor I know because of your production, and you do it all yourself, which is even more impressive. So I would love to know what how you think about negotiations, how you sort of play nicely with other realtors but still fighting for your clients and also how you Manage your clients expectations?

Carrie McCormick 10:01
Yeah, you know, it’s it’s really interesting, it’s become a hot topic. You know, it’s it’s time to write, when you get to the point where you’re in negotiations, it’s all about time with your clients, and everyone’s you know, got valuable time. And this goes back to the ego to negotiations can be emotional for everybody involved. So first and foremost, I always like to say, as real estate brokers, we are a fiduciary to our clients. And you know, some people don’t even know what that really means. And what that does mean is we’re obligated by law, to act in our clients best interest, rather than operating out of our own self interest. You know, and I think, too, with negotiations, when you’ve got two brokers involved, sometimes it does, you know, get ego gets in the way to everyone wants to win. But we’ve got to put that aside. Can you hear that cat in the background?

D.J. Paris 10:56
I do. I hear I hear a very noisy cat. It’s totally okay, keep going.

Carrie McCormick 11:01
So nicely, cats not going to come over here. But we’ll see. But obviously, negotiations, I forgot where I left off. But negotiations are very important to closing every deal. In some agents go in with guns blazing, they’re ready to fight, you know, they start throwing out recent comps, and, you know, this house closed 10 years ago with this. And, you know, they start very negative, I think, and they start talking negatively about the client’s property. But I think once we get to the point of negotiations, we have a buyer, we have a seller, let’s look at this, instead of a fight, let’s look at this negotiation as an opportunity to reach an agreement. And that’s all it is, it’s you know, we don’t need to swing back and forth. So I put together three, what I think steps good steps are to start a negotiation. And I’ve learned this throughout the years. And the first one is, this is kind of common, but do do your research, obviously, do your research on the property, do your research on the market, and also do research on your clients personality. Because I think it’s important to understand the psychology of where your clients are coming from in negotiations. And that also goes to the seller side. So you can actually very quickly go on to Google, find out, you know, hopefully, you know what your client does for a living, but kind of dig deeper into what they do. Dig deep into what the what your opposing side does, as well, that’s going to give you some traits on their personality, and how they’re going to react to the negotiations, you know, whether someone’s analytical or someone is, wants to fight, you know, you can, you can kind of tell by some of their online profiles,

D.J. Paris 12:49
I see. So you would be looking at maybe their social media. Also, maybe any, like videos they may have put on YouTube, or things like that, or articles they may have written or just anything about them online is that absolutely,

Carrie McCormick 13:01
because if they’re in the profession, either they’ve attended conferences, or they’ve written speeches, or they’ve spoken, or they give their opinion, on certain things, you really can, you know, get an idea whether someone wants to be a fighter in situations, whether they want to be the winner in it, or if, you know, again, they’re more data driven, and they need to have that data in front of them. It’s just a really good small step to take to understand their personality. Right. I also think, you know, it’s important to know, the other side’s client as well. So again, you’re not just doing this just on your side, you’re understanding the other side. For example, I’ve got agents that will call and say like, Okay, here’s the offer, this is our best and final, we want to we want an answer by 6pm. Tonight, you know, like, right, my client doesn’t like that, you know, my client wants to go back and forth a little bit. So when you are in the showings, I think that’s a great time to get a read with the other agent. And sometimes I’ll ask, you know, agent, Joe, you know, tell me a little bit about your seller, what’s important to them? You know, when do they need to move, so I’m kind of trying to qualify what’s important to the seller. So when it comes to negotiations, I have a little bit of information and know how to propose this. You know, there’s some, again, some people like to ping pong back and forth. Some people like to cut to the chase. So it’s important to understand that so we have a successful outcome. And again, a lot of it is just asking questions, listening, which sometimes we don’t as agents, listen, but listen to what people are telling you. So you know how to strategize it correctly. I just had a scenario actually, while we’re on this podcast, I may get the answer to this. But for example, this is a real life scenario. We’ve been negotiating back and forth on a deal for three weeks. And we’ve had interior designers in this space, we’ve had contractors in this space, I’m on the seller side, we’ve had the buyer has brought in all of these and we’ve accommodated all of this, we are $25,000 apart on this deal. In the big picture, it’s not that much and not that I want to give away anyone’s money or I don’t want someone to overspend. But in the big picture, it’s not that much, we got to a point where the buyer said, Here’s my best and final offer you have this was literally you have six hours to make a decision, if you don’t respond in six hours are offers off the table. Okay, I couldn’t get ahold of my seller. Six hours came and went, it was the seventh hour, the buyer said, we’re done. Wow. So I thought, you know, again, that’s kind of where the ego comes into play. You know, we’ve been negotiating this for three weeks, you know, both sides are mad at each other. Now, they don’t even know each other, but they’re mad at each other. So the broker and I are trying to bring this back together, we kind of let everyone’s egos, you know, cool down for a little bit. So actually, you know, I communicated with the other broker this morning, she’s going to talk to her client, I talked to my client, I said, you know, this is kind of crazy to, you know, to multimillion dollar deal to end this over a six hour period, you know, we couldn’t respond you anyways. She said, she’s going to talk to her client and get back to me. So we’ll see what happens. Stay tuned, we’ll see if this deal comes together.

D.J. Paris 16:38
Like, hang on, hang on to see if I see if you get an answer here in the next few minutes.

Carrie McCormick 16:42
But again, that’s part of our job is understanding each side of it and understanding the client. So that’s I know, that was a long winded Tip of the day, but I’ve got one more is what was my last tip, now I went into that story. Oh, it’s just understanding like that each and every personality types, yeah, personality types in there. So we’ve also had clients where, you know, the, the mom will come in, or the dad will come in and is part of the decision maker will have the kids that are involved in making a decision. So not only understanding the the one that signing the contract, but there’s also other people in their lives, that are helping them make the decision. And if you don’t involve them, or you don’t understand that aspect of the deal. Sometimes your deal could go sideways. And you know, again, we’ve got parents involved with the kids buying, we’ve got, you know, grandparents that are lending money to people, you know, there’s all different parts of the deal that we need to understand. And all of that is discovered through getting to know your client, and asking the right questions that will set you up for success when it comes to the negotiation.

D.J. Paris 17:59
I love all of that makes makes perfect sense. And it’s just, you know, you said something really interesting that I wouldn’t have thought of which was the idea of going and sort of doing some research on your own client, seeing if you can determine personality traits based on not necessarily you asking them, because sometimes when you ask people questions, they’ll give you what they think is the answer that either you want to hear or that they feel comfortable saying what maybe isn’t actually the truth. It’s kind of like, we have 700 realtors in our company and your company have like three or 4000. And if an email went out to every agent saying, hey, just curious, would you like more training, less training or no training? Everyone’s gonna say I want more training. And then when it actually comes to putting a training program together, maybe 20 agents out of 3000 Show up or in our case, 10 agents out of seminar. And so we’re like, Well, everyone says they want more training, and then when we actually Institute so so I think what you said is actually quite smart. Because if somebody says, like, oh, during negotiations, I absolutely love the back and forth. But and you know that or maybe they don’t say that, but you can kind of get a sense through their social media, that they’re they’re fighters or they’re aggressive or, you know, there may be used to being in charge. That’s maybe another part of it is like you probably deal a lot with Well, I know you deal with a lot with C suite level, you know, enterprise level people who are, you know, used to getting their own way used to maybe snapping their fingers and having people underneath them do certain things. And so you probably treat those people differently, or have different you you probably approach them differently than you would people who don’t have, you know, a whole team that they’re always managing and controlling.

Carrie McCormick 19:43
Right? No, it is and I’ve got a client who runs a company and you know, he’s exhausted of making decisions all day and he knows his business and he looks at me and says, What would you suggest and I give my opinions like let’s do it.

D.J. Paris 19:59
That’s kind of client If I

Carrie McCormick 20:01
was good this deal ever, but you know, mean, but that was it, you know, like he, he trusted me enough to make the decisions. And of course, you know that it was great. But again, you know, that doesn’t work for for another client, right? So you do you have to understand what moves motivates your clients and you know, the internet such a good tool out there for everybody.

D.J. Paris 20:26
Yeah, it’s a great place to get a better sense of what your clients are actually like, when they’re not in front of you. I think that’s a great, great point. You know, it’s funny, I was I was watching a video, it wasn’t a video you made, it was another top producer here in Chicago. And I was sort of surprised this, he he even made this video because he had a tip for agents who are dealing with multiple offers. And to me, this is the most obvious thing. But he clearly felt the need to do it. Because he probably sees that most agents don’t do this. In fact, he gave examples. So here, I wanted to throw this your way and get your reaction. So he was saying, if you’re in a multiple offer situation, if you’re on the buyer side, and you know, you’re dealing with multiple offers, he’s like, the moment you send over, or as soon as you send over the offer, he’s like, you know, you got to follow up with a phone call. It doesn’t have to be that second, but you have to follow up with a phone call text, like, especially if it’s multiple offer. And I was like, Well, I just I was watching the video. I’m like, doesn’t everybody do that? And then he goes, he goes, the reason I’m making this video is I have three properties. Right now they’re in a multiple offer situations were getting like 10 offers per per place, or whatever the number was, it was more than one. And he said not one agent. Not one has called me to be like, Hey, did you get the offer? How did it look to you? He goes, they all just emailed it over. And he’s like, he’s like, I’m just making this video for the good of, of realtors. So, um, Does that shock you to hear that? I mean, you must deal with that all the time, too.

Carrie McCormick 21:54
Yeah, I think even to take that a step further. Sometimes, you know, people use dot loop or they use DocuSign Sure, they will literally just for the sign DocuSign over where so the email looks like it’s coming from Docusign.

D.J. Paris 22:06
So you don’t even necessarily know that it’s an offer? Yeah,

Carrie McCormick 22:09
I don’t even know it’s an offer. I don’t know who the agent is, unless I go through it. And that is bewildering to me that that people just literally forward something. And you’re right, it’s but again, you know, everyone is does their business differently. And I just I think they’re doing a disservice to their client by just forwarding an email, but nothing shocks me anymore. Everyone does something different. But kudos to whoever that was that made the video I think that was hopefully a good people paid attention and, and listened and learn from that.

D.J. Paris 22:45
So for everyone out there, please call the other agent after you submit an offer. And even just to politely say, hey, just want to make sure you got it. If you have any questions, read through it. You know, you want to play play nice and really say I just want to, you know, like, what do you do when you send an offer?

Carrie McCormick 23:00
Well, 100%, call the agent and give them. I mean, that’s like 100% call the agent. And you know, like I’m advocating for my buyers, right? So I tell them a little bit about them. I think what’s important for sellers to know, too. And this is kind of my tip is like, if I’m representing a buyer, I’m the buyer’s team, right. So we’ve got the buyer, we have the buyer’s broker, we have the buyer’s attorney, we have the buyer’s inspector. Right. So we’re a team. And that’s important for the seller to know who’s on the other side advising this buyer, not only are they picking the buyer and the buyer’s terms, the seller wants to make sure that buyers can get across the finish line. And how is that buyer going to do that by having a good team, the attorney is important. The inspectors important, the mortgage lender is hugely important. And the brokers important. So there’s four people on our side of the buyers table that a seller should be concerned about. So that’s what I like to highlight is Mr. Mrs. seller, or sellers in general, look to see who the buying team is. They’re the ones that didn’t get that buyer across the finish line. So I think that’s important to highlight as well.

D.J. Paris 24:15
Yeah, that’s a great, great suggestion. So I for my marketing tip of the week, just to pivot over, I wanted to get your idea about this isn’t a new idea. And I sort of I’m reluctant to even say it because I feel like I say it every single time I do an episode. So I apologize to our listeners if you’ve heard this before. But I also think I’ve been here, you know, I’ve been hearing to work out all of my life. And I didn’t actually take action till a few years ago and I finally started working out. So even though you may have heard this before, I think it’s still a good thing to hear again, but I want to get your take on it. And if you you might disagree that this isn’t a good idea. So I was thinking for anyone out there whose business is down and let’s face it, this is probably going to be a down year. For most agents, at least, most brokerages seem to be projecting that economists are projecting that for realtors, so we know this is going to be a tricky year to to have high high production numbers. But if I was practicing, and I didn’t have any clients right now, I was thinking of an idea of what would I do. And of course, this is where you come in, because I want to get your thoughts, but if it was me, I am always thinking as an homeowner, I always want to know what my home is worth. I mean, I don’t, I’m not looking to sell and I’m not looking to move. But it’s kind of like getting that credit score report every month, where just gives you your number, like, I don’t do anything with my credit, really, but I’m just kind of glad that I can see it every month. And it’s like, you know, thankfully, I have a good credit score. But it’s kind of just a little bit of a sort of checks and balances of my life going okay, my credit, okay, my credits, okay, nobody opened up 10 Credit cards in my name last month and spent a bunch of money. So I always think knowing some knowing your home value is kind of in that same category of like, Mmm, I probably won’t do anything with the information. But it’s good to know. So if it was me, I would call every single person I know who owns a home, whether I was their realtor or not when they bought it. And I would say, Hey, I you know, look, if you know they already have a realtor like Hey, I know you already have an agent, but I was just practicing running some CMAs. Or rather, I run CMAs for everybody I know you don’t have to say you’re practicing. And I wanted to send you what I think your home is actually worth because what I found is that a lot of times, you know, people who are homeowners will go maybe just to Zillow, look at the Zestimate we know that this is where the public goes. So they don’t go really anywhere else. They go to Zillow. So we know that’s where they go, we know they look at the Zestimate as realtors, all of us, you know, have certain feelings about Zestimate like it or hate it. Regardless, it’s not totally always going to be perfectly accurate, even though Zillow says it’s within about three percentage points of accuracy, which may or may not be true, I don’t know. But if people are only using that metric, and then you can come along and say hey, by the way, I actually disagree a little bit with Zillow, I think your home is worth X, lower, higher, whatever that is providing value. So if it was me, I would be just constantly sending out CMAs to my people. I know, what do you think about that you feel free to disagree? I’m just curious to what

Carrie McCormick 27:24
I like it. I you know, I think it’s a great tip. And I think it depends on how many clients you have. The one thing that I’ve done just to kind of ease it was not a CMA, it was just a general market report in their neighborhood. Yeah. And maybe that’s kind of what you’re talking about, because I feel like, and this is again, just my opinion that if I tell them where I think their value of their home is, and I don’t know, maybe they’ve done updates to it and they get offended, you know, by what, oh,

D.J. Paris 27:53
good point good,

Carrie McCormick 27:55
or, you know, it’s completely off. And then I look like I don’t know what I’m talking about so

D.J. Paris 28:00
or they disagree with it for whatever reason, and then you have to defend.

Carrie McCormick 28:03
So what I did actually is I sent out just like if it’s Linkin Park, I’ll send out a Linkin Park report of you know, in the last quarter house single family homes have been doing. And you know, if you want to know where yours falls in, because you know, there’s always the charts and what’s selling what’s not selling, you know, if you want more to drill down on your home and get an accurate, you know, CMA on your home, I’d love to come over and chat with you. So I kind of leave it open to that.

D.J. Paris 28:29
That’s a better way to do it. I actually like that better. So so just to recap that idea. So instead of Kerry sending out a sort of a blind CMA, and maybe having the person go, well, this doesn’t make sense. I made all these upgrades, or she’s got it wrong, she doesn’t, you know, you’re right, it unless the number is significantly higher than what they expect, they’re probably going to have questions or maybe feel like yeah, Carrie didn’t really maybe she didn’t miss something or so. So I love that idea. So instead of saying that, you could say, hey, in the surrounding areas, I’ve noticed the homes in your area are actually up, you know, 20%, or whatever the number is, if you want to sort of do a deeper dive into your property, I can figure that out for you. Yeah, that’s a much safer way to do it. I love that.

Carrie McCormick 29:16
And again, everyone’s got their way of doing it. It’s just it’s, it’s easier. And it’s allows, again, my goal is to provide value, or our goal is to provide value, but more importantly, I want to talk to them. I want them to pick up the phone or they want them to invite me to come over so.

D.J. Paris 29:32
So okay, so let’s I just want to drill a little bit deeper into this. So so let’s say I changed my approach. I’m not going to just automatically run the CMA I’m going to do a market report for their neighborhood, their suburbs or wherever. And I’m going to say hey, I noticed that homes are up or whatever the data is. I’d love to do a deeper dive with you. How do you so then are you going to email that to somebody? Are you going to call them what works best for you? What do you have that kind of information? Do you want to give it to them?

Carrie McCormick 30:01
So I feel like with email, people just delete it. Yeah, personally, you know, I think there’s like market report or you know, your neighborhood update or whatever, yeah, nobody cares. That gets deleted personally. But I would do it two ways I, I always print it shouldn’t say always, I print it, and I put it in an envelope, and I mail it to them. And I hand address it, just because if it’s a label, they’re gonna, they might throw it away. So I think there’s a better chance that they’re going to open up the mail. And then I will the net following week, I will follow up with an email with a subject line, did you get the envelope with the Market Report? And that way, you know, it’s, it’s a follow up, you know, and then I do have a hyperlink to that report. So if they did accidentally throw that envelope away, they can get it online.

D.J. Paris 30:57
Smart. And you get a pretty good response to those.

Carrie McCormick 31:00
I do. I do, or I’ve just gotten like a client of mine. Sam, he sent me an email you said, Thanks for the updated Market Report. Yeah, that’s fine. I mean, that’s, it’s an acknowledgment of it. And it’s it’s a touch point. And granite, he just bought his place a year ago. But you know, he was a touch point. So yeah, I think I get good response from that.

D.J. Paris 31:20
I love that. Well, I think that’s a great idea. So for anyone out there who is in between clients, or maybe wanting to provide some value in between deals, this is an opportunity to do some neighborhood reports and Mark reports, send it to everybody, you know, and then offer them to do a, you know, a more specific example with their own property. If they’re interested. I love that that’s really smart. Well, let’s, I think that’s a great place to wrap up for today. For everyone who is listening, I want you to think a couple of things. Number one, if you if you’re not here in the local Chicago market, and 99% of our audience, I think isn’t. So for everyone out there who is working in a different area here in US, Canada, wherever you might be listening from. If you have clients that are moving to Chicago, Carrie would love the opportunity to chat with them. She works. I mean, she’s a top producer, she works with a lot of relocation people. And anyway, anyone who’s moving here, she would love the opportunity to connect with you if you have clients in moving into the area. So please consider her for that. And then also, like I said, at the beginning of the episode, please follow her on Instagram, in particular, she does all her own Instagram herself. It’s amazing. And it’s a great example of how you can and what’s really cool about Instagram too, is you can actually, for the most part, look at people’s engagement. And you can actually look at other people’s engagement to get a better sense of where you might want your engagement to land as far as likes, comments, etc. video views. So please follow her on Instagram, which is at Carey McCormick real estate. Carrie. Oh, and one last thing, please everyone, the best way you can help us as a podcast is by telling a friend think of one other realtor realtor that could benefit from hearing this episode with Carrie today, which was awesome. And send them a link to our website. If they’re not like a normal podcast listener and they don’t normally, you know, subscribe to shows, she can send them over to keeping it real pod.com Every episode we’ve ever produced can be streamed right from the browser, or if they are podcast listeners, they can just do a search for keeping it real and hit that subscribe button. So please tell a friend that just helps us continue to reach more people. And we can do more episodes. And everybody wins. So carry on behalf of the audience that we thank you. You’ve been with us for years and years. You’re an amazing guest on our show and a contributor and we don’t feel like we could do the same show without you. So I’m so glad you’re still with us. And on behalf of Karen and myself. We also want to thank all of our listeners and our viewers for continuing to support our show. So again, tell a friend follow Carrie on Instagram at Carey McCormick art, our real estate which by the way is linked to the Instagram and her website Carrie McCormack art e.com is in our show notes. So please visit both of those. And yeah, let’s keep the train rolling. Carrie, great to see you. And we thanks again. We’ll see you next time.

Carrie McCormick 34:14
Awesome. Thank you guys.

  continue reading

303 jaksoa

Artwork
iconJaa
 
Manage episode 355900048 series 1449194
Sisällön tarjoaa D.J. Paris. D.J. Paris tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.

In our February episode of Monday Market Minute, Carrie McCormick from @properties discusses how realtors become lifestyle consultants and how important it is to have a conversation about client’s lifestyle too. Carrie also talks about the importance of negotiation as an educational tip. Last, Carrie shares three tips to use during negotiations with a client.

If you’d prefer to watch this interview, click here to view on YouTube!

Carrie can be reached at carrie@atproperties.com or by phone at 312.961.4612.

Please follow Carrie on Instagram by clicking here.

This episode is brought to you by Real Geeks.

Carrie McCormick D.J. Paris Monday Market Minute

Transcript

D.J. Paris 0:00
What if you consider yourself more of a lifestyle consultant than someone that only helps people buy or sell homes? How would that change your business? Well, we’re going to talk about that today. Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren’t converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solution so that you can easily generate more business. There agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod and now on to our show.

Welcome to keeping it real, the largest podcast made by real estate agents and for real estate agents. My name is DJ Parris. I’m your guide and host through the show today on the show is our monthly series called The Monday market minute with Carrie McCormick from the Carey McCormick Real Estate Group with at properties here in Chicago. Carrie is a top 1% producer here in Chicago with over 20 years of experience helping buyers sellers and investors in fact, past 12 months out of number up now up to 40 Almost 47,000 realtors in our in our area. Carrie is routinely in the top 15 of highest producers and rising not 15% Literally the top 15 out of 47,000 producers so she is a true superstar and an expert in everything from first time homebuyers, veteran investors, and luxury properties. She also works with a lot of developers and is often chosen to represent these high end developments, please visit Carrie at our website, which is Carrie McCormick r e.com. Also, please please please follow her on Instagram I she has she routinely gets awards for having one of the very best realtor IG accounts. So please, let’s all check out and you can get inspiration from some of the posts that she makes. Her Instagram is as at Kerry McCormick. That’s MCC o r m IC K real estate. I’ll have a link to that in the show notes. You don’t have to type it in. But Carrie, welcome once again to the show.

Carrie McCormick 3:00
Thank you so much. I’m actually impressed that you remember how to spell my name. There’s a lot of CS in there. There’s a lot of there’s there’s a lot. So thank you.

D.J. Paris 3:10
I just recently did an episode and I don’t think it’s released yet. But by the time this one releases, it’ll it’ll be released. And I literally got to the end of the interview, which was over an hour. And I realized I had called the person the wrong first name. And I said, Did I do that throughout the interview and he’s like, Yeah, budget. So I try to now be a little bit more aware of people’s names, but it has happened. So I am just glad to to remember you’re not that I would ever forget your name. But it is funny. Sometimes it happens. So Carrie and I are actually before we have a different topic that we want to go over today, which I think is going to be a great one around negotiation. But before that I was we were actually I was actually asking Carrie about our business. And she was telling me a scenario about a client that was interested possibly in moving and selling their existing home. But they were locked in at a very, very low rate with you know, a lot of us refinanced in the last several years, or we bought properties at you know, 3% rates, or 4%, or whatever it was at the time. And obviously that makes it sometimes more challenging when somebody today then wants to sell and is now going to maybe get a five and a half percent rate or a 6% rate or, you know, whatever it might be today. So, So Carrie, let’s talk about that. Because I think this is happening to a lot of agents where they’re just their clients are like, I don’t want to give up my rate. Yeah, and

Carrie McCormick 4:33
it’s it’s a real scenario. And I met with a client that asked me to come to their home. Obviously they wanted to sell their home or they’re thinking about selling their home and we just got into the nitty gritty of what they were looking to do. And he kind of barked back at me and he said, Well, you know, I’ve got a 1.875% rate interest rate 30 year fixed on this house. which was mind blowing, which I’ve never seen that before. But he said, he looked at me said, Well, why should I sell my house, it does not make financial sense for me to sell my house. And he went through, he was a financial guy. And he went through like all of his scenarios, and the cost to carry and appreciation and all of this stuff. And I’m just looking at him. And you know, as when he got done talking about his scenario, I just looked back at him. And I said, you asked me to come to your house. You know, you, you invited me here to talk about selling your home. So put the interest rate aside, right? That’s something I can’t change, or, I mean, it’s it’s real, is why do you want to move? Why are you thinking of moving, and then we started in this conversation about, you know, what their next steps are in life and why they’re moving kids are out of the house, obviously, the house is too big for them, they want to travel more, they want a lifestyle, where they can just lock the door and walk away and someone’s handling their packages, they don’t have to wear it worry about the roof, or, you know, water leaks, etc. So then we started in that conversation, which is the real reason that they want to move, right. And I said to them, and this is where as you know, realtors, we become consultants to our clients, you know, and it’s kind of like a lifestyle consultant, you know, of, okay, well, you have a choice, you can either keep the big house with your 1.875% interest rate, you can rent it out, right, then that comes with a whole slew of issues and problems, etc. Or you can stay in this house and travel and, you know, have a house manager and worry about your leaks and your roof, etc. Or you give up that interest rate, and you start living the life that you want. And you know that, you know, 6% interest rates aren’t going to be around forever, will he ever get that 1% Whatever he had absolutely not. But that’s a trade off. Right. And that became a discussion, which was kind of like a therapy session for them. And they have not decided yet what they’re going to do that was just the other day, but that’s what made me think of that is, you know, it’s it’s having these, you know, conversations with our clients of, of their lifestyle and what they want in their life. And I think that’s become more important to buyers and sellers. These days. It’s not just a house, I mean, it really is a home that old saying, and it’s how you’re going to live your life and, um, and what’s important to you.

D.J. Paris 7:30
Yeah, and there is sort of a, a, I don’t want to say it a reckoning but but a decision that ultimately they have to make where they have to just be willing to either give up the rate or not. And and that can seem like a big decision. And it can seem like Well, that just doesn’t make sense, we’ll just stay. And then you have to sort of suss out the other reasons, like you were doing about why they may still want to consider doing that. Because it’s not necessarily a bad financial decision, it just doesn’t feel good to go from one rate to another, but also to it’s, it’s like, people don’t, especially for the agent, sorry, especially for the buyers that in the last few years, wanted that that had these these rates that they were pre approved for and didn’t get the homes that they wanted. They I could even see that being an issue to where somebody’s like, well, now I can’t afford as much as I could two years ago when the rates were at 3%. And but then the other thing is like, well, they don’t maybe think that or they just wouldn’t know that people who did get homes at that time oftentimes overpaid. And so maybe kind of washes itself out a little bit. If the interest if they buy something today and the interest rates higher, and then in two years, maybe they refinance. Do you do you end up having a lot of those conversations too, with people like Well,

Carrie McCormick 8:49
yeah, all the time. Yeah, it’s, and that’s why it’s important for us as brokers to do our homework to and just coming up with solutions and having these conversations with our clients. And that’s goes into also one of my I’ll go through my negotiation tips. But, you know, there’s a lot of egos too, right. And you know, with clients either who didn’t win the House want to win the house didn’t get the interest rate, whatever, you know, everyone wants to feel like they won and, you know, boils down to their ego. So it’s understanding your, what moves your clients, what drives your clients, what’s important to them, and having those conversations around there. So I may take a therapy class of how to or psychology class of how to, you know, talk with people a little bit more about this, but it’s, it’s educational, it’s, it’s fun.

D.J. Paris 9:39
Well, yeah, let’s talk about negotiation. So you obviously negotiate more than just about any realtor I know because of your production, and you do it all yourself, which is even more impressive. So I would love to know what how you think about negotiations, how you sort of play nicely with other realtors but still fighting for your clients and also how you Manage your clients expectations?

Carrie McCormick 10:01
Yeah, you know, it’s it’s really interesting, it’s become a hot topic. You know, it’s it’s time to write, when you get to the point where you’re in negotiations, it’s all about time with your clients, and everyone’s you know, got valuable time. And this goes back to the ego to negotiations can be emotional for everybody involved. So first and foremost, I always like to say, as real estate brokers, we are a fiduciary to our clients. And you know, some people don’t even know what that really means. And what that does mean is we’re obligated by law, to act in our clients best interest, rather than operating out of our own self interest. You know, and I think, too, with negotiations, when you’ve got two brokers involved, sometimes it does, you know, get ego gets in the way to everyone wants to win. But we’ve got to put that aside. Can you hear that cat in the background?

D.J. Paris 10:56
I do. I hear I hear a very noisy cat. It’s totally okay, keep going.

Carrie McCormick 11:01
So nicely, cats not going to come over here. But we’ll see. But obviously, negotiations, I forgot where I left off. But negotiations are very important to closing every deal. In some agents go in with guns blazing, they’re ready to fight, you know, they start throwing out recent comps, and, you know, this house closed 10 years ago with this. And, you know, they start very negative, I think, and they start talking negatively about the client’s property. But I think once we get to the point of negotiations, we have a buyer, we have a seller, let’s look at this, instead of a fight, let’s look at this negotiation as an opportunity to reach an agreement. And that’s all it is, it’s you know, we don’t need to swing back and forth. So I put together three, what I think steps good steps are to start a negotiation. And I’ve learned this throughout the years. And the first one is, this is kind of common, but do do your research, obviously, do your research on the property, do your research on the market, and also do research on your clients personality. Because I think it’s important to understand the psychology of where your clients are coming from in negotiations. And that also goes to the seller side. So you can actually very quickly go on to Google, find out, you know, hopefully, you know what your client does for a living, but kind of dig deeper into what they do. Dig deep into what the what your opposing side does, as well, that’s going to give you some traits on their personality, and how they’re going to react to the negotiations, you know, whether someone’s analytical or someone is, wants to fight, you know, you can, you can kind of tell by some of their online profiles,

D.J. Paris 12:49
I see. So you would be looking at maybe their social media. Also, maybe any, like videos they may have put on YouTube, or things like that, or articles they may have written or just anything about them online is that absolutely,

Carrie McCormick 13:01
because if they’re in the profession, either they’ve attended conferences, or they’ve written speeches, or they’ve spoken, or they give their opinion, on certain things, you really can, you know, get an idea whether someone wants to be a fighter in situations, whether they want to be the winner in it, or if, you know, again, they’re more data driven, and they need to have that data in front of them. It’s just a really good small step to take to understand their personality. Right. I also think, you know, it’s important to know, the other side’s client as well. So again, you’re not just doing this just on your side, you’re understanding the other side. For example, I’ve got agents that will call and say like, Okay, here’s the offer, this is our best and final, we want to we want an answer by 6pm. Tonight, you know, like, right, my client doesn’t like that, you know, my client wants to go back and forth a little bit. So when you are in the showings, I think that’s a great time to get a read with the other agent. And sometimes I’ll ask, you know, agent, Joe, you know, tell me a little bit about your seller, what’s important to them? You know, when do they need to move, so I’m kind of trying to qualify what’s important to the seller. So when it comes to negotiations, I have a little bit of information and know how to propose this. You know, there’s some, again, some people like to ping pong back and forth. Some people like to cut to the chase. So it’s important to understand that so we have a successful outcome. And again, a lot of it is just asking questions, listening, which sometimes we don’t as agents, listen, but listen to what people are telling you. So you know how to strategize it correctly. I just had a scenario actually, while we’re on this podcast, I may get the answer to this. But for example, this is a real life scenario. We’ve been negotiating back and forth on a deal for three weeks. And we’ve had interior designers in this space, we’ve had contractors in this space, I’m on the seller side, we’ve had the buyer has brought in all of these and we’ve accommodated all of this, we are $25,000 apart on this deal. In the big picture, it’s not that much and not that I want to give away anyone’s money or I don’t want someone to overspend. But in the big picture, it’s not that much, we got to a point where the buyer said, Here’s my best and final offer you have this was literally you have six hours to make a decision, if you don’t respond in six hours are offers off the table. Okay, I couldn’t get ahold of my seller. Six hours came and went, it was the seventh hour, the buyer said, we’re done. Wow. So I thought, you know, again, that’s kind of where the ego comes into play. You know, we’ve been negotiating this for three weeks, you know, both sides are mad at each other. Now, they don’t even know each other, but they’re mad at each other. So the broker and I are trying to bring this back together, we kind of let everyone’s egos, you know, cool down for a little bit. So actually, you know, I communicated with the other broker this morning, she’s going to talk to her client, I talked to my client, I said, you know, this is kind of crazy to, you know, to multimillion dollar deal to end this over a six hour period, you know, we couldn’t respond you anyways. She said, she’s going to talk to her client and get back to me. So we’ll see what happens. Stay tuned, we’ll see if this deal comes together.

D.J. Paris 16:38
Like, hang on, hang on to see if I see if you get an answer here in the next few minutes.

Carrie McCormick 16:42
But again, that’s part of our job is understanding each side of it and understanding the client. So that’s I know, that was a long winded Tip of the day, but I’ve got one more is what was my last tip, now I went into that story. Oh, it’s just understanding like that each and every personality types, yeah, personality types in there. So we’ve also had clients where, you know, the, the mom will come in, or the dad will come in and is part of the decision maker will have the kids that are involved in making a decision. So not only understanding the the one that signing the contract, but there’s also other people in their lives, that are helping them make the decision. And if you don’t involve them, or you don’t understand that aspect of the deal. Sometimes your deal could go sideways. And you know, again, we’ve got parents involved with the kids buying, we’ve got, you know, grandparents that are lending money to people, you know, there’s all different parts of the deal that we need to understand. And all of that is discovered through getting to know your client, and asking the right questions that will set you up for success when it comes to the negotiation.

D.J. Paris 17:59
I love all of that makes makes perfect sense. And it’s just, you know, you said something really interesting that I wouldn’t have thought of which was the idea of going and sort of doing some research on your own client, seeing if you can determine personality traits based on not necessarily you asking them, because sometimes when you ask people questions, they’ll give you what they think is the answer that either you want to hear or that they feel comfortable saying what maybe isn’t actually the truth. It’s kind of like, we have 700 realtors in our company and your company have like three or 4000. And if an email went out to every agent saying, hey, just curious, would you like more training, less training or no training? Everyone’s gonna say I want more training. And then when it actually comes to putting a training program together, maybe 20 agents out of 3000 Show up or in our case, 10 agents out of seminar. And so we’re like, Well, everyone says they want more training, and then when we actually Institute so so I think what you said is actually quite smart. Because if somebody says, like, oh, during negotiations, I absolutely love the back and forth. But and you know that or maybe they don’t say that, but you can kind of get a sense through their social media, that they’re they’re fighters or they’re aggressive or, you know, there may be used to being in charge. That’s maybe another part of it is like you probably deal a lot with Well, I know you deal with a lot with C suite level, you know, enterprise level people who are, you know, used to getting their own way used to maybe snapping their fingers and having people underneath them do certain things. And so you probably treat those people differently, or have different you you probably approach them differently than you would people who don’t have, you know, a whole team that they’re always managing and controlling.

Carrie McCormick 19:43
Right? No, it is and I’ve got a client who runs a company and you know, he’s exhausted of making decisions all day and he knows his business and he looks at me and says, What would you suggest and I give my opinions like let’s do it.

D.J. Paris 19:59
That’s kind of client If I

Carrie McCormick 20:01
was good this deal ever, but you know, mean, but that was it, you know, like he, he trusted me enough to make the decisions. And of course, you know that it was great. But again, you know, that doesn’t work for for another client, right? So you do you have to understand what moves motivates your clients and you know, the internet such a good tool out there for everybody.

D.J. Paris 20:26
Yeah, it’s a great place to get a better sense of what your clients are actually like, when they’re not in front of you. I think that’s a great, great point. You know, it’s funny, I was I was watching a video, it wasn’t a video you made, it was another top producer here in Chicago. And I was sort of surprised this, he he even made this video because he had a tip for agents who are dealing with multiple offers. And to me, this is the most obvious thing. But he clearly felt the need to do it. Because he probably sees that most agents don’t do this. In fact, he gave examples. So here, I wanted to throw this your way and get your reaction. So he was saying, if you’re in a multiple offer situation, if you’re on the buyer side, and you know, you’re dealing with multiple offers, he’s like, the moment you send over, or as soon as you send over the offer, he’s like, you know, you got to follow up with a phone call. It doesn’t have to be that second, but you have to follow up with a phone call text, like, especially if it’s multiple offer. And I was like, Well, I just I was watching the video. I’m like, doesn’t everybody do that? And then he goes, he goes, the reason I’m making this video is I have three properties. Right now they’re in a multiple offer situations were getting like 10 offers per per place, or whatever the number was, it was more than one. And he said not one agent. Not one has called me to be like, Hey, did you get the offer? How did it look to you? He goes, they all just emailed it over. And he’s like, he’s like, I’m just making this video for the good of, of realtors. So, um, Does that shock you to hear that? I mean, you must deal with that all the time, too.

Carrie McCormick 21:54
Yeah, I think even to take that a step further. Sometimes, you know, people use dot loop or they use DocuSign Sure, they will literally just for the sign DocuSign over where so the email looks like it’s coming from Docusign.

D.J. Paris 22:06
So you don’t even necessarily know that it’s an offer? Yeah,

Carrie McCormick 22:09
I don’t even know it’s an offer. I don’t know who the agent is, unless I go through it. And that is bewildering to me that that people just literally forward something. And you’re right, it’s but again, you know, everyone is does their business differently. And I just I think they’re doing a disservice to their client by just forwarding an email, but nothing shocks me anymore. Everyone does something different. But kudos to whoever that was that made the video I think that was hopefully a good people paid attention and, and listened and learn from that.

D.J. Paris 22:45
So for everyone out there, please call the other agent after you submit an offer. And even just to politely say, hey, just want to make sure you got it. If you have any questions, read through it. You know, you want to play play nice and really say I just want to, you know, like, what do you do when you send an offer?

Carrie McCormick 23:00
Well, 100%, call the agent and give them. I mean, that’s like 100% call the agent. And you know, like I’m advocating for my buyers, right? So I tell them a little bit about them. I think what’s important for sellers to know, too. And this is kind of my tip is like, if I’m representing a buyer, I’m the buyer’s team, right. So we’ve got the buyer, we have the buyer’s broker, we have the buyer’s attorney, we have the buyer’s inspector. Right. So we’re a team. And that’s important for the seller to know who’s on the other side advising this buyer, not only are they picking the buyer and the buyer’s terms, the seller wants to make sure that buyers can get across the finish line. And how is that buyer going to do that by having a good team, the attorney is important. The inspectors important, the mortgage lender is hugely important. And the brokers important. So there’s four people on our side of the buyers table that a seller should be concerned about. So that’s what I like to highlight is Mr. Mrs. seller, or sellers in general, look to see who the buying team is. They’re the ones that didn’t get that buyer across the finish line. So I think that’s important to highlight as well.

D.J. Paris 24:15
Yeah, that’s a great, great suggestion. So I for my marketing tip of the week, just to pivot over, I wanted to get your idea about this isn’t a new idea. And I sort of I’m reluctant to even say it because I feel like I say it every single time I do an episode. So I apologize to our listeners if you’ve heard this before. But I also think I’ve been here, you know, I’ve been hearing to work out all of my life. And I didn’t actually take action till a few years ago and I finally started working out. So even though you may have heard this before, I think it’s still a good thing to hear again, but I want to get your take on it. And if you you might disagree that this isn’t a good idea. So I was thinking for anyone out there whose business is down and let’s face it, this is probably going to be a down year. For most agents, at least, most brokerages seem to be projecting that economists are projecting that for realtors, so we know this is going to be a tricky year to to have high high production numbers. But if I was practicing, and I didn’t have any clients right now, I was thinking of an idea of what would I do. And of course, this is where you come in, because I want to get your thoughts, but if it was me, I am always thinking as an homeowner, I always want to know what my home is worth. I mean, I don’t, I’m not looking to sell and I’m not looking to move. But it’s kind of like getting that credit score report every month, where just gives you your number, like, I don’t do anything with my credit, really, but I’m just kind of glad that I can see it every month. And it’s like, you know, thankfully, I have a good credit score. But it’s kind of just a little bit of a sort of checks and balances of my life going okay, my credit, okay, my credits, okay, nobody opened up 10 Credit cards in my name last month and spent a bunch of money. So I always think knowing some knowing your home value is kind of in that same category of like, Mmm, I probably won’t do anything with the information. But it’s good to know. So if it was me, I would call every single person I know who owns a home, whether I was their realtor or not when they bought it. And I would say, Hey, I you know, look, if you know they already have a realtor like Hey, I know you already have an agent, but I was just practicing running some CMAs. Or rather, I run CMAs for everybody I know you don’t have to say you’re practicing. And I wanted to send you what I think your home is actually worth because what I found is that a lot of times, you know, people who are homeowners will go maybe just to Zillow, look at the Zestimate we know that this is where the public goes. So they don’t go really anywhere else. They go to Zillow. So we know that’s where they go, we know they look at the Zestimate as realtors, all of us, you know, have certain feelings about Zestimate like it or hate it. Regardless, it’s not totally always going to be perfectly accurate, even though Zillow says it’s within about three percentage points of accuracy, which may or may not be true, I don’t know. But if people are only using that metric, and then you can come along and say hey, by the way, I actually disagree a little bit with Zillow, I think your home is worth X, lower, higher, whatever that is providing value. So if it was me, I would be just constantly sending out CMAs to my people. I know, what do you think about that you feel free to disagree? I’m just curious to what

Carrie McCormick 27:24
I like it. I you know, I think it’s a great tip. And I think it depends on how many clients you have. The one thing that I’ve done just to kind of ease it was not a CMA, it was just a general market report in their neighborhood. Yeah. And maybe that’s kind of what you’re talking about, because I feel like, and this is again, just my opinion that if I tell them where I think their value of their home is, and I don’t know, maybe they’ve done updates to it and they get offended, you know, by what, oh,

D.J. Paris 27:53
good point good,

Carrie McCormick 27:55
or, you know, it’s completely off. And then I look like I don’t know what I’m talking about so

D.J. Paris 28:00
or they disagree with it for whatever reason, and then you have to defend.

Carrie McCormick 28:03
So what I did actually is I sent out just like if it’s Linkin Park, I’ll send out a Linkin Park report of you know, in the last quarter house single family homes have been doing. And you know, if you want to know where yours falls in, because you know, there’s always the charts and what’s selling what’s not selling, you know, if you want more to drill down on your home and get an accurate, you know, CMA on your home, I’d love to come over and chat with you. So I kind of leave it open to that.

D.J. Paris 28:29
That’s a better way to do it. I actually like that better. So so just to recap that idea. So instead of Kerry sending out a sort of a blind CMA, and maybe having the person go, well, this doesn’t make sense. I made all these upgrades, or she’s got it wrong, she doesn’t, you know, you’re right, it unless the number is significantly higher than what they expect, they’re probably going to have questions or maybe feel like yeah, Carrie didn’t really maybe she didn’t miss something or so. So I love that idea. So instead of saying that, you could say, hey, in the surrounding areas, I’ve noticed the homes in your area are actually up, you know, 20%, or whatever the number is, if you want to sort of do a deeper dive into your property, I can figure that out for you. Yeah, that’s a much safer way to do it. I love that.

Carrie McCormick 29:16
And again, everyone’s got their way of doing it. It’s just it’s, it’s easier. And it’s allows, again, my goal is to provide value, or our goal is to provide value, but more importantly, I want to talk to them. I want them to pick up the phone or they want them to invite me to come over so.

D.J. Paris 29:32
So okay, so let’s I just want to drill a little bit deeper into this. So so let’s say I changed my approach. I’m not going to just automatically run the CMA I’m going to do a market report for their neighborhood, their suburbs or wherever. And I’m going to say hey, I noticed that homes are up or whatever the data is. I’d love to do a deeper dive with you. How do you so then are you going to email that to somebody? Are you going to call them what works best for you? What do you have that kind of information? Do you want to give it to them?

Carrie McCormick 30:01
So I feel like with email, people just delete it. Yeah, personally, you know, I think there’s like market report or you know, your neighborhood update or whatever, yeah, nobody cares. That gets deleted personally. But I would do it two ways I, I always print it shouldn’t say always, I print it, and I put it in an envelope, and I mail it to them. And I hand address it, just because if it’s a label, they’re gonna, they might throw it away. So I think there’s a better chance that they’re going to open up the mail. And then I will the net following week, I will follow up with an email with a subject line, did you get the envelope with the Market Report? And that way, you know, it’s, it’s a follow up, you know, and then I do have a hyperlink to that report. So if they did accidentally throw that envelope away, they can get it online.

D.J. Paris 30:57
Smart. And you get a pretty good response to those.

Carrie McCormick 31:00
I do. I do, or I’ve just gotten like a client of mine. Sam, he sent me an email you said, Thanks for the updated Market Report. Yeah, that’s fine. I mean, that’s, it’s an acknowledgment of it. And it’s it’s a touch point. And granite, he just bought his place a year ago. But you know, he was a touch point. So yeah, I think I get good response from that.

D.J. Paris 31:20
I love that. Well, I think that’s a great idea. So for anyone out there who is in between clients, or maybe wanting to provide some value in between deals, this is an opportunity to do some neighborhood reports and Mark reports, send it to everybody, you know, and then offer them to do a, you know, a more specific example with their own property. If they’re interested. I love that that’s really smart. Well, let’s, I think that’s a great place to wrap up for today. For everyone who is listening, I want you to think a couple of things. Number one, if you if you’re not here in the local Chicago market, and 99% of our audience, I think isn’t. So for everyone out there who is working in a different area here in US, Canada, wherever you might be listening from. If you have clients that are moving to Chicago, Carrie would love the opportunity to chat with them. She works. I mean, she’s a top producer, she works with a lot of relocation people. And anyway, anyone who’s moving here, she would love the opportunity to connect with you if you have clients in moving into the area. So please consider her for that. And then also, like I said, at the beginning of the episode, please follow her on Instagram, in particular, she does all her own Instagram herself. It’s amazing. And it’s a great example of how you can and what’s really cool about Instagram too, is you can actually, for the most part, look at people’s engagement. And you can actually look at other people’s engagement to get a better sense of where you might want your engagement to land as far as likes, comments, etc. video views. So please follow her on Instagram, which is at Carey McCormick real estate. Carrie. Oh, and one last thing, please everyone, the best way you can help us as a podcast is by telling a friend think of one other realtor realtor that could benefit from hearing this episode with Carrie today, which was awesome. And send them a link to our website. If they’re not like a normal podcast listener and they don’t normally, you know, subscribe to shows, she can send them over to keeping it real pod.com Every episode we’ve ever produced can be streamed right from the browser, or if they are podcast listeners, they can just do a search for keeping it real and hit that subscribe button. So please tell a friend that just helps us continue to reach more people. And we can do more episodes. And everybody wins. So carry on behalf of the audience that we thank you. You’ve been with us for years and years. You’re an amazing guest on our show and a contributor and we don’t feel like we could do the same show without you. So I’m so glad you’re still with us. And on behalf of Karen and myself. We also want to thank all of our listeners and our viewers for continuing to support our show. So again, tell a friend follow Carrie on Instagram at Carey McCormick art, our real estate which by the way is linked to the Instagram and her website Carrie McCormack art e.com is in our show notes. So please visit both of those. And yeah, let’s keep the train rolling. Carrie, great to see you. And we thanks again. We’ll see you next time.

Carrie McCormick 34:14
Awesome. Thank you guys.

  continue reading

303 jaksoa

Kaikki jaksot

×
 
Loading …

Tervetuloa Player FM:n!

Player FM skannaa verkkoa löytääkseen korkealaatuisia podcasteja, joista voit nauttia juuri nyt. Se on paras podcast-sovellus ja toimii Androidilla, iPhonela, ja verkossa. Rekisteröidy sykronoidaksesi tilaukset laitteiden välillä.

 

Pikakäyttöopas