Creating Raving Fans: 

A Story of Professionalism and Commitment

When Steve and Channing were touring with us, we did everything we could to demonstrate our professionalism, commitment to service, and commitment to putting them first in all matters. One way of doing this was to be transparent about our opinions of the properties that we toured. I always seek to inform and point out the positives and the negatives about a property, whether they are apparent to the client or not. 🏡💼

This 'good, bad, and ugly' approach is a vital tool. It's not about selling a home but helping clients make informed decisions that align with their needs and desires. This consultative selling approach demonstrates your commitment to them, not just to make a sale and move on. In all our discussions, I always mentioned ways that we can help our clients after closing. It's the opposite of produce-oriented sales speech, which can often come across as self-serving to a buyer. You're achieving several objectives by pointing out the negatives of a property. For instance, I could say, "This home backs up to vacant land, and there's no way to guarantee that something undesirable won't be built there.”

"Professionalism is not simply a catchphrase when it comes to constructing a successful career in real estate. Instead, it is the foundation upon which agent value is built. Prospects alike are searching for a relationship they can rely on, and maintaining a professional manner is essential to earning that confidence. Professionals can develop a reputation for quality that resounds with their audience if they commit to excelling in all aspects of their work, particularly communication, service, and devotion to quality. In a nutshell, professionalism is not only a trait but an essential factor in determining value.” - The Architecture of the Real Estate Practice, Sonny Moyers, 2023 📖🏘️ Architecture of the Real Estate Practice (AREP) | educational material to create a thriving business (thearchitectureoftherealestatepractice.com)

This constant focus on detail, transparency, putting the client first, and professionalism caused Steve and Channing to become Raving Fans by the end of our efforts to find them a home. They commented that we were the best real estate agents they had ever worked with. This was quite a compliment, as they had purchased several homes over the years. We marked them as P1 in our CRM, noted their potential, and began building an Account Plan to support them and their sphere of influence in the future.

We were not surprised when Steve called to refer a team member to us. After all, why wouldn’t he want the best for his new employee? I contacted Zeke and Jasmine and set a time to meet with them. We had our first referral from Steve and Channing. We noted our CRM because Zeke and Jasmine were part of the Steve Willis Referral Group. This allowed us to track future referrals and send thank-you notes and gifts to Steve and Channing. Everyone wants to be appreciated. 🎁💌

The presentation was geared to set the stage for causing them to become Raving Fans and tell Steve they believed we were the best. This was part of the overall strategy for account development for our new clients, who are now adding up to potentially ten people. Steve, Channing, Zeke, Jasmine, and the six children were added to the CRM. We also learned that Zeke and Jasmine had parents in College Station, TX. They were added to the CRM also. 🌟📋

In our next Blog, I will tell the story of helping Zeke, Jasmine, and their beautiful children. You may be surprised by what happens, so stay tuned to my blog. Want to see me on YouTube? @AREP2023

Stay tuned to Real Estate Success by Sonny for more stories and tips! #RealEstateSuccess #ClientFirst #Professionalism #RealEstateTips #RavingFans #ConsultativeSelling #TransparencyMatters

 

The Law of the Few in Real Estate: 

The Steve Willis Story

In the early 2000s, I received a call that would mark the beginning of a compelling client relationship. Steve Willis reached out to our office, explaining that he and his family were relocating to the DFW area and needed assistance finding a home. Steve, his wife Channing, and their four children, all under ten, were primarily concerned about securing a residence in an excellent school district. They were particularly interested in Frisco and Plano, given Steve's work in the financial services sector in downtown Dallas.

Despite my curiosity, Steve kept private who had referred him to us. However, during our lengthy phone conversation, we scheduled a meeting at our office. I learned that Steve was deeply religious and knew I was a graduate of Abilene Christian University (ACU) in Abilene, TX. Steve and Channing's story is a prime example of how “The Law of the Few” operates in real estate.

Understanding "The Law of the Few"

The concept of "The Law of the Few," popularized by Malcolm Gladwell in his book The Tipping Point, is a crucial principle in real estate. Here's an excerpt from my book, The Architecture of the Real Estate Practice, that delves into this concept:

“Our experience over a twenty-year period has been that client accounts and their sphere of influence could represent as much as 80% of the total Practice INCOME. This is especially true when a Client Account is defined as the client, their extended family, and their sphere of influence.

This concentration of potential revenue is the primary reason that each client and their sphere represent a significant opportunity for the agent. Losing one of these accounts is a major loss to the agent and the Practice. The need for Client Account Management is emphasized in the book Sales Force Management by Churchill, Ford, and Walker. They write:

“In response to the growing importance of major accounts—those very large customers who represent a disproportionate share of a firm’s total sales volume—many firms are also developing explicit policies regarding how such customers should be handled.” (1981, p. 84)”

The Willis Family: A Perfect Example

Steve and Channing Willis were the ideal clients. They were thoughtful and appreciative, and their children were delightful. After showing them several properties, we found the perfect home in Frisco, TX. The closing was quickly accomplished, and we celebrated with a prayer and a housewarming gift.

Maintaining a relationship with the Willis family was easy. We frequently provided resources for their home projects and kept in touch. They were categorized as P1 in our Client Relationship Management program, ensuring we stayed involved in their lives.

A few months after their closing, Steve reached out again. This time, he needed assistance for a new team member he was hiring. This introduction led us to meet Zeke and Jasmine Martin.

Stay tuned for the next blog, where I'll share the story of Steve, Channing, Zeke, and Jasmine and how they found a trusted advocate and REALTOR® in us.

The blog will continue next Monday, July 29th, 2024. Visit me at my channel on YouTube @AREP2023. For more information about my book, See Architecture of the Real Estate Practice (AREP) | educational material to create a thriving business (thearchitectureoftherealestatepractice.com)

 

    Marketing Real Estate requires creativity, standing out in the crowd, and offering prospects information that is intriguing to the prospect. They remember what is different. They forget what they see all the time.

The following information is different, valuable, and creates interest because it leaves a question answered. 

What is the address of the home?

New Listing Announcement: Stunning Highland Home in The Lakes of Prosper (Coming 7-29-2024)

Price: $624,000
Location: The Lakes of Prosper, Prosper, Texas
Home Type: One-Story Highland Home
Square Footage: 2600+ Sq Ft

Property Highlights:

Bedrooms: 4
Study: Yes
Owner's Suite: Super-Large
Backyard: Pool-sized, ready for your dream outdoor paradise

Why You Should Choose the Lakes of Prosper:

The Lakes of Prosper subdivision is a highly sought-after residential community known for its family-friendly environment and extensive amenities. Here’s why it’s an ideal place to call home:

Community Amenities:

Lakeside community pool with a splash pad
Playgrounds
Paved trails
Pavilion area for social gatherings

Household & Housing Statistics:

Average Home Price: Homes in Lakes of Prosper typically range from $540,000 to $850,000, with a median sale price of around $540,000.

Average Home Size: Homes generally range between 2,964 and 4,106 square feet, featuring 4 to 5 bedrooms and multiple bathrooms.

Median Household Income: Prosper boasts a median household income of about $178,224, reflecting the community's affluence.

Average Income: The overall prosperity and well-being of the community are evident in the significant average income of residents.

Real Estate Market:

Homes on the Market: Current listings range from $724,900 to $899,900, showcasing the high demand and value of properties in this subdivision.
Average Time to Sell: Properties in Lakes of Prosper generally sell quickly due to high demand, indicating a robust real estate market.

Community and Lifestyle:

The Lakes of Prosper offers a vibrant lifestyle with a variety of recreational activities and events, such as:
Sports leagues for youth and adults
Annual community events like the Prosper Fishing Derby
Access to highly rated schools within the Prosper Independent School District

Summary:

    Lakes of Prosper is a thriving and upscale subdivision in Prosper, Texas, offering high-quality homes, excellent community amenities, and a robust real estate market. The area is renowned for its family-friendly atmosphere, strong community engagement, and access to top-rated schools.

    Don't miss the opportunity to own this beautiful home in one of Prosper's most desirable communities! Contact us today to schedule a viewing for later this month and make this dream home yours.

Sonny Moyers, REALTOR
The Renaissance Group Architecture of the Real Estate Practice (AREP) | educational material to create a thriving business (thearchitectureoftherealestatepractice.com)
469-261-5715
@AREP2023 on YouTube or find me at Real Estate Brokerage - SonnyMoyers.com

 

Elevate Your Real Estate Game with Frank Hereda and Sonny Moyers! 🎙️🏡

In this highly informative podcast, the chemistry between Frank Hereda, Coach and Podcast Host, and Sonny Moyers, Podcast Guest, is palpable. Frank, known for his engaging and insightful interviews on the "Real Estate Coaching" podcast, brings out the best in his guests. Together, Frank and Sonny crafted a content-packed episode brimming with insights designed to boost your success. 🚀

Highlights from the Episode 🌟https://youtu.be/jl-7P8zFffs?si=EU0YarEWTQg8nVbD

Their engaging conversation delved into the importance of having a plan and differentiating oneself in the competitive real estate industry. Sonny shared his personal journey in real estate, highlighting the crucial shift from merely selling homes to solving clients' problems. 🏠💡

They also explored the power of building relationships and the value of finding connectors who can refer clients. Sonny underscored the significance of self-disclosure and reciprocity in establishing trust with clients. 🤝✨

Throughout the podcast, their dynamic exchange offered valuable insights for professionals in real estate and other service industries. Building a successful real estate business requires a blend of knowledge and creativity. Sonny emphasized the importance of building trust, demonstrating competence, and maintaining professionalism. 📚🎨

Key Takeaways 📝

An important part of their discussion was the concept of client relationships surviving closing, emphasizing the need to provide ongoing value to clients beyond the transaction. They also focused on creating a marketing plan from a well-defined business model, stressing the significance of using time wisely. ⏰📈

Moyers encourages agents to be innovative, creative, and personal in their approach to stand out in a crowded market. The synergy between Frank Hereda and Sonny Moyers makes this podcast a must-listen for anyone looking to elevate their real estate practice. 🌟🎧

Tune in to gain actionable insights and elevate your real estate game! 🏡✨

 

CHAPTERS:

00:00 - Introduction and Background

05:25 - The Importance of Having a Plan

09:23 - Differentiating Yourself in the Real Estate Industry

13:21 - Building Relationships and Finding Connectors

27:25 - The Role of Relationships in Business

32:46 - The Law of the Few: Finding the Right Clients

37:17 - Building Trust and Professionalism

39:42 - The Client Relationship Must Survive Closing

44:44 - The Importance of a Well-Defined Business Model and Marketing Plan

51:36 - Maximizing Productivity: The Highest and Best Use of Time

56:34 - Standing Out in a Competitive Market: Innovation and Creativity

 

FRANK'S INFO: Frank Hereda - Business Coach (www.frankhereda.com) SONNY'S INFO: Sonny Moyers, SonnyMoyers.com (YouTube: AREP2023 & Book: www.realestatebook.org)

WIN 20240709 13 17 01 Pro

This video provides insight into how to justify your Professional Service Fee in the world of real estate.

Learn how to support by proving to clients that you deserve to be paid.

WIN 20240709 13 17 01 Pro

 

Tough Times for Sellers This Summer Means Opportunity Time for Home Buyers in the DFW Area 🌞🏡

As the summer heats up, the Dallas-Fort Worth area's real estate market has cooled. REALTORS and I report slow sales on pre-owned homes, leaving many sellers nervous, anxious, and ready to make deals. For home buyers, this spells opportunity. 💡✨

Your moment has arrived if you’ve been waiting for a market correction. Sellers are feeling the pressure, and you can take advantage of the great deals available now. While high interest rates may seem like a barrier, they can be overcome with a Buydown strategy.

A Buydown involves paying a fee to the lender to reduce the interest rate on your mortgage, which can be covered by either the buyer or the seller. This can help you qualify for a loan or save thousands over the first few years of homeownership. And when interest rates drop below your new rate, refinancing could make even more sense. 💰🏠

For example, if you buy a home I’m listing next week for around $600,000 and put 20% down, you’d have a loan amount of $480,000. Comparing a 7% interest rate to a 5% rate on a 30-year loan, you’d save thousands over the next five years. The cost of the Buydown depends on your credit, lender, and other factors, but you can propose that the seller covers all or part of this cost. This can be negotiated alongside or instead of a price reduction. Just remember, the home must still appraise at the sales price. If you have a savvy agent, they can help you navigate this strategy.

Example: For a 30-year loan of $480,000:

• At an interest rate of 5%, the total payment over the life of the loan would be approximately $927,627.77.
• At an interest rate of 7%, the total payment over the life of the loan would be approximately $1,149,642.71.

The savings by securing a 5% interest rate instead of a 7% interest rate would be approximately $222,014.95. *This example depends upon your credit and other lender conditions.

Curious to learn more? Ask your REALTOR or contact me to explore how you can secure a home at a more affordable interest rate. Builders often offer buydowns, making new homes attractive, especially when sellers are motivated. 🏘️🔑

One of my current listings includes a $10,000 incentive to help buy down the interest rate. Located at 8276 Western in The Colony, it’s listed for $1,549,900. If that’s not within your budget, I have another home coming on the market soon in Prosper, TX. It’s a beautiful Highland Home in the Lakes of Prosper neighborhood, about 2600 square feet, and expected to be priced under $600,000. 🌟🏡

Don’t wait—contact me or your agent for more information. 📞📧

Sonny Moyers, REALTOR & Broker, The Renaissance Group, Prosper, TX

Visit me on YouTube @AREP2023 or on my website at SonnyMoyers.com.

You can also find me on LinkedIn and see my book about real estate at: RealEstateBook.org.

#DFWRealEstate #HomeBuying #MarketOpportunity #RealEstateDeals #Buydown #HomeOwnership #ProsperTX #RealEstateTips #SonnyMoyers #TheRenaissanceGroup

 

 

Navigating the Current Real Estate Market in Plano, Frisco, Prosper, Celina, and Surrounding Suburbs

By: Sonny Moyers, REALTOR®, Broker, The Renaissance Group

If you have your home listed for sale in the suburbs of Plano, Frisco, Prosper, Celina, The Colony, or other nearby areas, you're likely concerned about showing activity and the prospects of getting your home sold. In the price range of $400K to $700K, showings are sparse, and offers are slow to arrive. The market is even slower for homes priced between $701K and $1.5M. While new homes might be an exception, even builders are feeling the pinch of current market trends.

The once-brisk market has slowed significantly. Rising interest rates are taking a toll, and uncertainty about the future is contributing to buyer hesitation. Additionally, agents are facing new challenges with the upcoming changes to brokerage commission rules, which will begin on August 17th of this year.

Concerns about the Federal Reserve, the looming election, and various international crises are weighing heavily on the market. With fewer buyers able to qualify for loans due to high interest rates, homeowners looking to sell are confronting a harsh reality. Macro issues like these can't always be mitigated with price reductions and traditional strategies.

To successfully market your home today, you must be creative, make practical improvements to your property, and work with a stellar real estate agent who excels in marketing. Here are a few tips to help you navigate this challenging market:

1. Enhance Curb Appeal: First impressions matter. Ensure your home looks inviting from the outside with well-maintained landscaping and a fresh coat of paint if needed.
2. Stage Your Home: Proper staging can help potential buyers envision themselves living in your space. Consider hiring a professional stager to highlight your home's best features.
3. High-Quality Photos and Videos: In today's digital age, most buyers start their search online. Make sure your listing includes high-quality photos and videos that showcase your home in the best light.
4. Leverage Social Media: Promote your listing on social media platforms like Facebook, Instagram, and LinkedIn. Engage with your audience and share updates regularly.
5. Host Virtual Tours: Virtual tours are a great way to reach a wider audience. They allow potential buyers to explore your home from the comfort of their own space.
6. Highlight Unique Features: Make sure to emphasize any unique features your home has, such as a newly renovated kitchen, a spacious backyard, or energy-efficient upgrades.

By being proactive and working closely with an experienced real estate agent, you can improve your chances of selling your home even in today's challenging market. If you would like other marketing ideas for stimulating activity, comment on this Blog, and I will respond accordingly.

https://youtu.be/t8C7YRUz5Ag?si=j2Yy9x2G0F_IABkH

Visit my YouTube channel @AREP2023, my website at SonnyMoyers.com, or send me an email at sonny@sonnymoyers.com. I wrote the book on Real Estate Practice Development ~ RealEstateBook.org.

This blog is not intended to solicit property that is currently listed for sale.