Greater Park City Real Estate Careers Blog with Nancy Seraphin

How Do You Get More Leverage in Your Business?

2016-07-12T12:15:00.002-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

Leveraging yourself and your time is an important part of growing any real estate business. Do you have leverage in your business? Here’s how you can find that out.

First, figure out your hourly rate. If you assume that it’s possible to have a GCI of $150,000 in Park City, which is reasonable for our price point, and on average people work 49 weeks a year and 40 hours per week, it gives you a total number of 1,960 hours. Divide that from $150,000 and you get an hourly rate of $76.50

So, as you are doing things like managing your transactions from contract to close, making your own marketing flyers, and writing your own blog content, ask yourself if you could hire someone else to do this type of work for less than $76.50 an hour who would be competent enough to do the tasks. Of course, the answer is yes.

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More leverage equals more success.

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Why don’t more people hire out this type of work on their teams?

They have plenty of excuses, whether they say it takes too much time or they don’t trust another person to do it. Just think about what you could do with either that extra money or extra time by hiring the work out. That’s how you get leverage in your business.

At a certain point, you’ll have to look into hiring a personal assistant or creating a team and hiring a buyer agent. But for now, look at your hourly rate, and see if you would be able to hire some competent help so you can leverage your business and make more money and be more successful. If you have any questions for me, don’t hesitate to give me a call or send me an email. I would love to hear from you.

7 Productivity Tips from Successful Entrepreneurs

2016-06-28T11:40:00.003-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

Today I’ll be sharing some secrets to maximize your time as a busy professional. However, if you have good ideas for topics, or if there is something you’d like to hear more about, please don’t hesitate to contact me.

Tap into the power of ‘Now’: Do it now, read it now, make it now.

Relentlessly focus on one thing at a time: Multi-tasking has been proven to be extremely ineffective, so stay focused on one thing at a time.

Be decisive but also purposefully delay decisions: Some decisions are easy - like what to have for lunch. But others will require more time. Perhaps you should take a run or ride a bike to clear your mind before making a major decision.

Do the most-feared thing first: Stop procrastinating your least favorite task. Get it out of the way and get on with your day.

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Multi-tasking is a myth

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Learn to say no to things that don’t advance your company: Learn to say 'no' to things that create little value for you and your company. We were constantly being invited to events, and many of them were great, but we had to start saying no at some point.

Do one more: When you’re calling prospects, just try to call one extra person. Or when you’re mailing newsletters, just try to mail one extra out to someone.

Learn when to cut your losses: We’ve all had bad systems, bad clients, or bad strategies. Instead of sticking with them and hurting your business, you have to know when to call it quits.

I hope you’ve found these tips helpful, and I love hearing from everyone so please don’t be afraid to reach out to me!

2 Important Statistics to Consider When Selling in Park City

2016-06-02T09:12:00.002-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

There are 2 fascinating takeaways from the first quarter statistics for sellers in today’s market.

First, the median sales price across our 3 major markets increased 13% year over year. That means sale prices have gone up 13% in Park City proper, the Snyderville Basin, and in Heber Valley.

Next, Rick Klein from Wells Fargo released new information about sales velocity and pricing around the median sale price. When you’re working with a seller, this can be very useful information. Basically, if you price at the median sale price, or at least very close to it, your home will sell in about 2 to 4 months as long as the home is in good condition.

However, if you price over the median sale price, it can take you 22 to 24 months to sell! The seller who wants to overprice must not be very motivated, right? As you can see, it takes 4 to 5 times longer to sell when a property is overpriced.

If you have any questions, give us a call or send us an email. We would be happy to help you!

How Keller Williams Park City provided me the opportunities and business model that fit my real estate business.

2016-05-04T14:34:00.000-07:00

“I had an opportunity to help launch the Keller Williams Market Center back in 2005. That was something of great interesting to me. Simultaneously, I was offered the opportunity to have some ownership in the company as well as some ownership in the real estate venture that would house the new Market Center, so that was all very interesting to me. It was also a period in my life where the opportunity to make a change from the brokerage I had been at for 23 years, the timing was right. My career in real estate in Park City was fairly well advanced. I was experiencing quite good success and moving to Keller Williams offered me a different business model to work under as I operated my real estate business”

-David Dorius

What’s the Secret to Getting Better Results for Your Seller Clients?

2016-05-03T12:20:00.002-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

What is the right mindset for someone who plans on moving? This is a crucial question every agent should know the answer to if they want to get results for their clients. An important role of the agent is to get the seller into the right mindset to move so that, should an offer come in, it is easy to facilitate the transaction. So, how can you get your clients in the right mindset?

One of the first things you should tell your clients to do upon listing is explore moving companies. Several companies offer local benefits to home sellers, so it’s important to have your clients explore all of their options. We like to use Two Man Movers; they have a program where, during the listing period, they provide a storage container in a climate-controlled facility in Salt Lake.

Next, give staging and packing advice to your clients. Suggest they take family photos off the wall. Have them package them up and store them away so that potential buyers can envision themselves living in the home. Additionally, bulky furniture that doesn’t help showcase the property should be moved and stored. Another staging tip is to get rid of cords; either coil them together, label them, and put it near the device or keep a box with all the labeled cords. These are only a few of the many things you can suggest to your client in order to get better selling results.

If you would like additional tips on how to get your sellers into the mindset to move, please don’t hesitate to reach out to us. We’re always available to help you!

Are You Offering Spring Cleaning Tips to Your Clients?

2016-04-20T11:01:00.001-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

Today, we’ll discuss spring cleaning tips to share with your clients.

The first one that is often overlooked is checking your roof shingles. Even if the home is newer, you still need to check. Do you remember this winter’s Windmageddon, when all the trees blew down? We had 65 to 80 mph winds, so roof shingles might have blown off. Recommend a roof expert to check out their shingles.

While they’re up there, have them check the chimney for loose stones or other issues. They can also check to make sure that the gutters are clear of debris.

Around the house, do a visual check of the landscaping. Make sure there’s no sloping of the landscape towards the home or branches that will cause water to pool around the foundation.

Make sure they get the air conditioner serviced. It’s better to do it now before the hot weather kicks in because a lot of people will experience issues and it will be hard to get someone to come out and see your air conditioner. Address it now before it becomes an issue.

Also, check for cracks in the concrete driveway. Have the cracks sealed. That will go a long way towards extending the life of the concrete. While you’re near the garage, check their power equipment. Make sure the lawn mower works.

Don’t overlook the attic. Change out filters and check the heating and cooling units up there.

Finally, look at the outside faucets. Those can get cracked during the winter, so get them checked before the hoses are connected.

If you have any questions, give me a call or send me an email. I look forward to hearing from you.

How Coming from Contribution Brings You Referrals

2016-04-06T10:05:00.000-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

Today, we’re going to discuss coming from contribution. What does that mean? Think of a concierge in a fine hotel. You look to that person to make your experience as memorable as possible. If you bring that same level of service to any prospect you meet, an existing client will reward you time and time again with referrals.

Think about what your clients will want to do when they are in town. It’s all about creating experiences and memories with their families. The more you can get ahead of that, the more you’ll be the center of any emotional decision.

When it comes to buying a resort property, it’s a very emotional decision. Buyers can make the decision after a stellar day of backcountry skiing in knee-deep powder. If you were the one that recommended the guide service that got them skiing, or if you recommended a great in-home massage therapist or really talented babysitter, who will they think of first when they think of real estate?

That’s right, they’re going to think of you. If you always look at it as coming from contribution, meaning you’re providing the information without any expected outcome, the referrals are just going to come pouring in.

How do you do this? First of all, since we are in a resort climate, our offerings differ as the calendar changes. Right now, you should be talking about what’s going on in the summer. Know when your clients and prospects are visiting. Give them some information prior to their trip so they’re ready. It can be very overwhelming to decide what to do in Park City, so provide some really unique options.

You should have some demographic information on your clients, like the ages of their kids or grandkids. Find out if they prefer symphonies to rock concerts. Get to know them on that level and you will definitely establish loyalty.

If you come from contribution it shows that you really want them to have a great experience, and great experiences lead to great emotions. I also suggest that as you refer them to these unique resources, be sure to let the vendors know that you referred this person to them with a personal note, email, or text. Then you solidify a relationship with those vendors.

Coming from contribution can have a magnifying effect on your business. If you have any questions, give me a call or send me an email. I would be happy to help you!

How to Be Ready for the Seasonal Shift

2016-03-23T12:55:00.001-07:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

March is here and April is on the horizon. We have longer days and great spring skiing conditions! Right now you probably have a lot of clients making decisions about buying so you’re very busy.

However, in order to be ready for the spring selling season, you need to get your listing inventory online. To accomplish this, I highly recommend setting aside a few hours per day to lead generate listings. Protect that time, and use it every day so you can build up that listing inventory for your buyers.

Here’s how to get a great list of leads. Get together a list of all the clients that you’ve sold to since you began your real estate career and organize it by how long ago they purchased. The first people you should contact are those who have owned a home for 3 years or longer. That becomes your lead list. Next, generate a comparative market analysis for each of those homes, so if you have the opportunity to talk about home values, the info is readily available.

You also want to offer your consulting services to help sellers get ready for the market. Your goal is to set an appointment to preview the home so you can make recommendations to the sellers. The landscape probably needs some sprucing up, and there will likely be some staging and decluttering needed. You want to have those properties ready for your buyers, so when the spring market hits in earnest, you will hit the ground running.

If you have any questions for me, don’t hesitate to give me a call or send an email. I look forward to hearing from you soon!

The Power Behind a List of Preferred Vendors

2016-03-02T11:22:00.000-08:00

Thinking about a Real Estate Career in Park City?
Build Your Business with KW Park City.

Over the years we have created a list of preferred vendors in Park City. If you don’t have a list, I recommend that you create one. I find it tremendously valuable for my business as well as my clients.

We have plumbers, electricians, handymen, interior designers, loan companies, and more on our list. You do have to be careful when referring people to lenders because you have a fiduciary duty with them, so don’t steer people to just one lender. I’d suggest recommending three different lenders.

If you go out and build relationships with these vendors, you will get business because of it. When choosing who to work with, use a phone book and not Google. You’ll find more people that way, and not just those that are paying to be at the top of the list.

Acknowledge the vendors when they do a good job, and they will acknowledge you in return. If you do this right, you will create referral relationships.

If you have any further questions about this, please don’t hesitate to contact me!

Why I moved from one brokerage to become an agent with Keller Williams Park City

2016-02-19T08:02:00.002-08:00

"I was looking for an alternative to my then current, stifling brokerage. The people at Keller Williams are very nice, and Nancy and David provide a lot of support, which is appreciated. What it's done for my career is that they provide me support. Nancy does a great job. She's got a challenge working with new agents to seasoned agents, and she seems to do it very well. She juggles a lot of balls, while being very professional. I think she is very well-respected in the marketplace."

-Julie Hopkins
#1 Top Producing Individual - KW Park City 2013, 2014, 2015
#1 Individual Agent for all of KW Utah 2013, 2014, 201

How Leaving My Comfort Zone Helped Me Accomplish My Coaching Goals

2016-02-15T08:55:00.002-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Today, I want to talk about the importance of getting out of your comfort zone from time to time.

I don’t like shooting videos. It makes me very uncomfortable because it’s not my natural way to be -- I don’t like being behind the camera. But to my surprise, many people have told me that they really enjoy getting the videos I send out. They find the tips I share very helpful!

As the CEO of the company, my goal is to bring value to other agents. Since people are responding so well to my videos, they must be working! Although I have to go out of my comfort zone to do it, I’m accomplishing my goal of helping other agents!

In your business, what makes you uncomfortable? Is it the thought of prospecting? Do scripts and role playing make you nervous? Do you have trouble with technology? We all have areas we’re just not comfortable with. However, if you find a way to move beyond the things that make you uncomfortable, you will see results!

Just because something is uncomfortable to you isn’t a reason to avoid it! If you want some tips on how to go about getting outside of your comfort zone, please don’t hesitate to reach out to me. I would love to help!

How to Stay Focused on Your 2016 Goals

2016-01-28T14:30:00.001-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Many of you have goals you are hoping to accomplish by the end of the year. Today, we are going to talk about staying focused on those goals. The new year is here, but it is still new. Today we are going to give you some of our best tips for staying on task and accomplishing your goals in the new year.

The first thing we recommend is trying to block out 2-3 hours per day in your calendar to block off for prospecting. During this time, you should remove any outside distractions, including your cell phone or email. Let those around you know you are taking this time to focus solely on prospecting, and make sure you won’t get distracted during these designated hours. If you take the lead on this, other people will follow suit.

Time blocking is a huge part of being a successful agent. In “The One Thing” by Gary Keller, he talks about staying focused on your goals. He says it is important to use those goals to focus. Whatever the goal is, it’s something you need to think about each and every time you sit down for those prospecting hours. It will make the time go by much faster and will help you stay more focused on the task at hand.

If you have any other questions, feel free to give us a call or send us an email. We would love to discuss things with you!

How we helped Ron Wilstein grow his real estate team.

2016-01-27T11:26:00.001-08:00

Why did you start working at KW Park City?

“I started to work at KW Park City because I evaluated the leading brokerages in Park City and it seemed to be the best fit for myself and my team to allow us to carry out business as we had in the past. We are a very self-contained team, so it's allowed us to continue to create business through our innovation, our website, and our agents. They give us the autonomy we need, and the support we need for processing transactions. Kudos to Nancy, she provides good support not only for the members on my team, but the members of the office overall.”

-Ron Wilstein, Team Leader of the Wilstein Team

Rising Interest Rates and Park City Real Estate

2016-01-15T09:11:00.000-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Today, I'm here with Gregory Cutt, the Branch Manager of Guaranteed Rate. Greg is the top producing mortgage broker in town, and he's also in the top 1% in the country. Greg's here to discuss rising interest rates in 2016, as well as the volatility in China's economy.

How do rising interest rates impact the real estate market?

Recently, the Federal Reserve raised their rates by 0.25%. When the Fed raised their rates, it affected the money that the Federal Reserve lends to banks. This rate increase doesn't necessarily affect mortgage rates. In fact, since the rate increase, mortgage interest rates have held steady at around 4% for a 30-year fixed mortgage, which is still historically low.

What really drives mortgage interest rates increases are the condition of the U.S. economy and the condition of the world's economy. Although the U.S. economy is doing well, there have been issues in other parts of the world.

How will problems with China's economy affect our real estate market?

China has become a big issue, and this first week of the year has been rough for the U.S. stock market. When people aren't making money in the stock market, it's actually a good time for you to shift your money into real estate for bigger returns.

Most projections for 2016 don't see our market jumping up or rebounding this year. A lot of people think we are due for a correction, which we may already be seeing in the stock market.

In real estate, 2015 saw a 5% to 7% appreciation rate in home value, which is good news. Don't listen to all the doom and gloom in the media; sometimes trouble with the stock market presents good opportunities in real estate.

If you have any questions for Greg, you can reach him at (435) 647-3000. As always, if you have any real estate questions, give me a call or send me an email. We would be happy to help you!

How we helped Erik Asarian and the Deer Valley Real Estate Guide Team grow their business

2016-01-08T13:13:00.001-08:00

Why did you start working at KW Park City?

“There were a few factors. The first was the previous company that I worked with had fallen on financial hard times and they bounced a $50,000 commission check to me. That was when I realized something was wrong and I needed to make a change. To me, Keller Williams was the best option out there. It's been great to have a connection with the KW mothership and being a part of the largest brokerage by agent count has some real benefits. I was in Austin, Texas yesterday and was able to meet with a lot of movers and shakers in the KW empire. It's a great, collaborative type of culture that I really appreciate. It's competitive, but when working with agents in non-competing markets, there is a tremendous sharing of ideas. The value proposition is also very high, compared to the amount I paid my previous broker. What I get from Keller Williams is a spectacular return on investment.”

-Erik Asarian, Team Leader of the Deer Valley Real Estate Guide Team

What Sort of Gifts Should You Be Giving to Clients?

2015-12-21T10:54:00.001-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Since we're right in the middle of the Holiday Season, I thought it'd be a good time to speak about the gifts that you're giving your clients. Everyone likes to give away pies, but what other gifts can you give?

I strongly suggest that your gift should be appropriate and proportionate to the level of the transaction. Depending on the expenditure of your client, your gift should be great or small, but your goal should be to drive referrals. You're giving this gift to get something out of it.

I like to give my clients books, and it works even better if you have an idea of their interests. I have been giving my clients coffee table books from a photographer here in Park City, and that seems to work well. I always write a message in the jacket. I don't think this is too elaborate, and it's a conversation-starter.

Gifts like wine and pie are great, but they disappear quickly. When they disappear, so do you! You want to be top of mind. This is why gifts like books, pictures, or decorations are preferable.

Give from your heart, but inspire your clients to give something back to you. Please contact me with any questions you might have.

Happy Holidays!

Dealing with Information Overload While Home Buying

2015-12-09T09:40:00.001-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

The real estate business has really changed since the advent of the Internet. How has the Internet changed the consultative nature of the selling process? When you work with buyers, it's important to get out in front of the information.

Let's say someone contacts you. They tell you they've been looking on Zillow to get an idea of the market. At this point, you need to ask what state they are from. In many states, the purchase price is public record. However, Utah is a non-disclosure state, so any estimate Zillow comes up with will be inaccurate. Letting the client know that information right away really helps the client get a clearer picture of our market.

Also, many real estate agents use a form called the buyer due diligence checklist. Most agents include this checklist in the packet of documents for the client. You need to sit down with your client and go through everything. Let them know what professionals will be involved in the buying process.

When you set up Internet searches for your clients, make sure they have specific goals. Ask as many questions as you can so that when you set up their Internet searches, all of the properties you send meet their criteria.

Finally, you can address information overload by coming up with a fact sheet that your buyers can refer to for common questions and concerns. This is a proactive way to educate your client on the buying process.

The Internet can be very good for business, but remember that only 1% of people buy the property they initially contact you about. Get ahead of the information during your buyer consultation.

If you have any questions, give us a call or send us an email. We would be happy to help you!

How Are You Giving Thanks to Your Clients?

2015-11-20T15:21:00.001-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

With Thanksgiving just around the corner, I thought it would be a good time to talk about giving thanks. However, I'm not talking about being grateful for what you have, I'm talking about the importance of thank you notes.

This is a very simple tool, but a very powerful one if it is used correctly. When you get a referral from a preferred vendor or a past client, it is so important to hand-write a thank you note to them. It's a really heartfelt way of showing your appreciation, and people are always impressed by this.

I get about 10 referrals per week, so I buy multiple different note cards in order to make each one feel customized and special. I even buy special stamps to add to the uniqueness of each note.

I prepare them all together at the beginning of the week so that I can send them out quickly and easily. It doesn't take a lot of time, and it's worth every second.

This is an easy way to show thanks while also adding extra people to your database.

If you have any other questions, please don't hesitate to contact me!

How to Target Lead Generation Efforts Based on a Behavioral Profile

2015-11-03T14:26:00.001-08:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Lead generation is the lifeblood of every real estate business, and today I'll be talking about ways in which you can improve and refine your lead generation strategies. I'm taking this from Gary Keller's book, The Millionaire Real Estate Agent.

Gary Keller suggests that you should contact your clients 33 times per year in order to keep them in your sphere of influence. However, I think you should contact your clients based on their behavioral profile. Your clients aren't all the same, and you need to act differently with them.

Some people (left-brain people) respond well to numbers and statistics. Right-brain people respond better to subjective, lifestyle-type information. When you're dealing with married buyers, you're probably dealing with one of each. Left brain people are going to prefer market reports, or anything else related to statistics.

Meanwhile, your right brain people will respond better to lifestyle information, such as Holiday Greetings or things that will make them feel a certain way. They prefer community information and lifestyle information.

This is why I recommend sending out a message for these two different people. You should send market reports at least every quarter for those left-brains out there, and afterwards you must plan a follow-up message to gauge their interest in your services.

You can mine your database far more efficiently if you devote some time to researching it and finding out what your leads react to the most.

Please don't hesitate to contact me if you have any questions!

How Can You Use Mobile Technology in Your Business?

2015-09-30T07:01:00.001-07:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Today we are very excited to be talking to you about the importance of mobile technology in the real estate business. Did you know that mobile technology is the #1 preferred method of home shoppers, and over 50% of real estate traffic comes from mobile devices. Of those mobile users, a startling 82% of them use their smartphone to influence a purchase decision. A mobile application offers the ultimate in functionality and convenience, allowing your clients to shop 24/7.

In Park City, given the resort nature of our town, mobile technology is even more important. Imagine your clients being able to ski by a property and get all the details at the press of a button. Before considering which app to share with your clients, you need to ask yourself the following questions to make sure you are getting a state-of-the-art tool to help grow your business:

Does your app include your contact information, so the client can contact you instantly?
Is the app GPS-enabled?
Does the app work throughout the entire country?
Does the app immediately allow the client to communicate data across different social platforms, such as Facebook and Twitter?
Does the app allow the client to set up an account where they can save their searches (and their information)?

Mobile technology continues to grow in popularity, so making sure you choose an app that is designed to appeal to your clients is critical. If you have any questions for us about this topic, or anything else real estate related, give us a call or send us a quick email. We look forward to hearing from you!

Marketing Solutions for Park City Real Estate Agents

2015-08-21T12:59:00.001-07:00

Thinking about a Real Estate Career in Park City?

Build Your Business with KW Park City

Do you want to be a well-informed, well trained real estate professional? With Keller Williams Park City real estate, you will have access to timely training and education, as well as eye-catching marketing solutions.

For example, this week marked a milestone in Park City history. Vail announced the combination of the Canyons Park City Mountain Resort and the Park City Mountain Resort. The new resort will be one vast ski area known as Park City.

I make it a point to stay on top of all relevant local business news. I was front and center at the launch event to glean firsthand impressions for my associates so that they could inform their client base. Because I had immediate access to all the digital links and images, my associates could maximize the benefits of this huge news in their digital marketing.

Knowledge is power. At the end of each quarter, we host a team meeting focused solely on understanding the trending statistics in our market area. A mortgage banking professional provides an in-depth presentation, and we collectively come up with talking points to share with our clients. Our marketing coordinator then creates your fully customized newsletter for your clients and SOI. We even come up with follow up scripts for you to use in post-distribution calls.

It's all about converting leads to business dollars, and creating a business worth owning. If you have any questions on today's video, or about Keller Williams, please give me a call or send me an email. I'd be happy to help you.