Center for REALTOR® Development – Details, episodes & analysis

In Part 1 with Brent Lancaster, we started the conversation about the Buyer Agreement and it’s a timely conversation. We recorded this before the proposed settlement from NAR was released. While the settlement is still proposed, and it’s not final, one of the key points in it is the importance of a signed agreement with our buyers. There are details to be clarified but it seems this topic is even more relevant than before we recorded it.

This agreement with buyers to work together and get paid for the work you do is crucial for us. Brent owns a school and teaches CE classes in many states and is very familiar with the laws and agreements in many states. He’s not a lawyer and he’s not a pro on every single one but he does bring so much wisdom to the conversation. I’m thrilled to have him with me for this topic and I hope you join us for both episodes.

Let’s join Brent and learn more about the sections that are in most Buyer Agreements. It’s important to understand all those sections, and why they are important. Your documents will vary from state to state, as does your law. Please refer to your state law first, guidance from your state and local associations, and, very importantly, your broker for clarity on your specific state and situation.

[2:58] Brent Lancaster, welcome back with us! In the last episode, we talked about the Buyer Agreement, having the conversation with the buyer to sign it; why it’s important to sign it, and what happens if something goes wrong. In this episode, we want to discuss the elements of the Buyer Agreement. It’s becoming more important that they are accurate.

[3:49] Defining your Buyer Agreement and how you fill it out is the job of your broker and the lawyers in your state. It is not your job. We’ll talk about some of the things we teach in the ABR® Accredited Buyer’s Representative designation. Go to your broker and your state law for your policy; also check with your state and local associations.

[5:25] The commitment has a start date and an end date with a caveat for an automatic extension for a closing that is scheduled beyond the end date, similar to a listing agreement. The length may be negotiated. It may be for 180 days or no longer than a year to be enforceable.

[6:56] In a discussion with a broker, in arbitration, or with a judge, they will look at much more than the agreement as to whether it’s enforceable. They’ll look at how closely you worked together, who made a change, how much work you did, and more. How many calories did you burn?

[7:45] The Carryover Period extends the time of the agreement if the buyer buys a property after the agreement that you showed the buyer during the agreement. The buyer may still owe compensation. This clause protects you.

[8:40] The Duties of Each Party is in two paragraphs. Discuss this in your buyer consultation in terms of your responsibilities and the buyer’s responsibilities. Try to have the same number of bullet points for each party. Brent gives some examples and priorities of the responsibilities of the agent.

[12:50] Brent discusses some responsibilities of the buyer. The first is to work exclusively with the agent. Explain why that’s important. Discuss what happens if the buyer is approached by another agent, or walks through a model home. No one in a model home represents the buyer. They are working for the seller.

[14:05] The buyer consultation covers some of these situations, such as what properties they’ve looked at, if they have financing and more.

[15:51] One section deals with compensation. Explain how money flows in the transaction. The buyer gets a loan or cash. They hand that money to the seller. The seller pays off the mortgage, and fees, and keeps the net. The listing and buying agents get paid. Explain how much you get paid for your service.

[17:35] Tell your buyer what your fee is and that you will do your best to get it from the seller. If the seller refuses, the buyer decides if they want to look at that home. Before you show any property, explain to the buyer how much they will need to bring to the table. They can decide if they want to look at it.

[20:41] Monica notes that in Spain, an agent can be hired as a personal house shopper for the buyer. Monica also points out that buyers’ agents could be considered to be consultants. Consultants get paid.

[22:18] There can be a section on a general description of the property type, a general area where you will look for it, and how much they will spend. If they materially change their mind, amend the agreement.

[29:37] Brent explains compensation earned vs. compensation paid. What if you take the buyer up to days before closing and they want to terminate the contract? Language stating when your compensation is earned needs to be in the contract. Termination fees need to be negotiated in the contract.

[31:36] You’re going to do what’s best for you. What we wanted to do in this episode is give you a general overview of some of the most important things that are in the Buyer Agreement.

[31:47] Buyers are just dying to buy! There are some pent-up buyer demands. Brent is excited about the rest of 2024, second quarter, third quarter; those agents that are ready, those agents that have planted those seeds, they’re going to reap the rewards. Brent is excited for them.

[32:24] Brent’s final word: “Thanks! I really appreciate the opportunity to do this, Monica! This has been so much fun. I really have enjoyed it and if anyone has any questions, just reach out to me. I’d be more than happy to help at least talk through it or have a conversation. This is my jam! I love talking about it!”

[33:10] Brent, thank you so much for all your wisdom, clarity, and the beautiful way that you’ve explained some of those things!

[33:49] Please continue to listen and learn from people who are creating solutions for you and your business in ways that produce growth and understanding for you and your client. Your ABR® instructors are working very hard all over the country to help us all be more focused on the quality service we bring to our clients and communicating that clearly to our prospects and the public.

[34:09] Go to Learning.REALTOR to get more information about quality training online or in your local area. Getting your Accredited Buyer’s Representative (ABR®) designation is more important than ever. You might consider getting it again for a good refresher while considering your business options and plans. I have so enjoyed the personal engagement with agents in my classes on this topic.

[34:37] Change can be good if we lean into the growth opportunities that it provides! Thanks so much for joining us! I’m Monica Neubauer for the Center for REALTOR® Development.

Tweetables:

“If you don’t tell your buyer what to do, then you’re going to lose that buyer.” — Brent Lancaster

“We wanted to give you an overview of some of the most important things that are in your agreement.” — Brent Lancaster

“Buyers are just dying to buy! There are some pent-up buyer demands. I am excited about the rest of 2024; second quarter, third quarter; those agents that are ready, those agents that have planted those seeds, they’re going to reap the rewards.” — Brent Lancaster

Guest Links:
LancasterInstitute.com
BobBrooks.com

LinkedIn: Brent Lancaster

NAR Resource Links
ABR® Accredited Buyer’s Representative

Additional Links:

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

facts.realtor

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page: Facebook.com/Monica.Neubauer

Instagram: Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Brent Lancaster

Brent Lancaster combines his love of the business of real estate with his passion for education. As president/CEO of one of the nation’s oldest real estate schools, he offers a variety of solutions to the challenges agents face in today’s real estate environment.

In 2003, Brent developed his first online course and has spent every year since, searching for innovative ways to bring quality and consistency to every agent using multiple delivery formats. Today, he continues to teach classroom instruction but has transformed the traditional brick-and-mortar classroom into a multimedia educational experience called On-Live™.

Brent is also the broker/owner of his own real estate firm, Brent Lancaster & Associates.

Please Note: Effective August 17, 2024, all MLS Participants working with a buyer are required to obtain a written buyer agreement before touring a home. For details about this and other practice changes, please visit facts.realtor.

This is our 100th episode — 100 great episodes with so many amazing people who volunteered their time to help you be the best agent you can be! So many helpful topics for your business! Who has been with me on the whole journey, even if you missed a few? If you see me out on the road at Midyear, Annual, or in a class, greet me and tell me what your favorite episode was! I’d love to hear it!

Today, my guest, Brent Lancaster, and I talk about the often legally required, Buyer Representation Agreement. We recorded this before the proposed settlement from the NAR was released. While that settlement is still proposed, and not final, one of the key points in it is the importance of a signed agreement with our buyers. There certainly are many details to be clarified, but it seems this topic is even more relevant than when we recorded it last month, and we knew it was relevant then. This agreement with buyers to work together and get paid for the work you do is crucial to our work.

Brent owns a school and teaches CE classes in many states. He’s very familiar with the laws and agreements in many states. He brings so much wisdom to the conversation. I am thrilled to have him with me on this important topic! I hope you can join me for both episodes!

[3:47] Brent Lancaster is our guest for our 100th episode! Brent says he’s got fireworks and confetti! Brent is super excited and congratulates Monica on the 100th episode!

[4:36] The laws and agency status in each state are not the same. As we talk about this, we need you, the listener, to recognize there are nuances and local practices. Always confirm questions with your broker.

[5:11] We’re going to talk about buyer agency commitments. Not every state practices buyer agency and agreements differ by state. Some states are changing their laws. Watch for changes in your state. We’re recording this in March of 2024.

[6:24] First, know what your state’s default agency position is. Regarding clients and customers, you owe your clients a lot more than you do your customers. We need to be honest and truthful to everyone.

[7:20] You don’t owe your customers a fiduciary duty. You owe your clients a higher level of service: loyalty, obedience, confidentiality, and in some states, fiduciary duty. You also have the Code of Ethics, over and above the law.

[8:41] March’s episodes with Lynn Madison are about all the things agents do for buyers. The structure is changing and there’s no longer an MLS amount a buyer’s agent will get paid. You’ll need an agreement,

[10:22] Buyer’s agents have just been accepting the Offer of Compensation. You show different properties, do the same thing, and are offered three different levels of compensation. That’s going away. Now, you, the buyer’s agents are in charge of your level of compensation.

[11:27] Now you get to put your value on paper. A lot of agents haven’t done it. Change is hard even if you want to change. We’re at the point where it’s potentially obligated. Get on board, early!

[12:12] Brent says a conversation needs to happen before a contract. Brent sits with a seller or a buyer and explains his value and services. The Listing Agreement or the Buyer Representation Agreement is a summation of those conversations.

[15:35] Tell your buyer that to perform services for them to help them buy the house they want, you need to be in a client relationship with them. That’s what the Buyer Representation Agreement does. You must know what your value is. Do you struggle with your value? Go to Competition.REALTOR (now facts.realtor) for ideas!

[17:11] When do you have the buyer sign the Buyer Representation Agreement? What do your broker and state law say? Brent says to have the buyer sign before the first showing. Showing is part of your value.

[18:10] The first face-to-face contact when you present the Agency Disclosure, if your state has that, is a good time to present the Buyer Representation Agreement. A buyer consultation could be a good time.

[21:22] If the buyer already has an agreement with another real estate agent but wants to work with you, find out if the buyer has gone on showings and what work the other agent has performed. Buyers need to be educated. A buyer can’t work with two agents. An agreement can be terminated with written notice.

[23:13] REALTORS® have an affirmative obligation to determine if a buyer has a Buyer Representation Agreement. If an agent takes your client, ask if they asked the client if they had a signed agreement.

[24:51] If a buyer doesn’t want to sign an agreement, you make a business decision. Is it a buyer you want to work with? Is it a buyer? What’s going to happen if you don’t get paid? It’s no fun to be burned.

[26:40] What about unrepresented and unqualified buyers going into open-house homes? The NAR says 89% of buyers are represented by a real estate professional. Explain your value to the buyer!

[29:35] What if the buyer’s agent doesn’t get paid? Brent notes some scenarios. Agency Representation and compensation are separate things. Legal representation doesn’t guarantee compensation.

[31:15] A Buyer Representation Agreement is a contract. The buyer says the agent will do work for the buyer and the buyer will pay the agent for the work. No reasonable person expects agents not to get paid.

[31:55] The more the agent explains to the buyer how money flows in the transaction, the better off the agent will be. Brent covers negotiating cooperative compensation between the buyer and seller’s agents.

[34:48] Brent believes that the buyers’ agents who are strong enough to have the conversations about compensation are the ones who are going to get the deals.

[35:16] Monica encourages buyers’ agents not to be afraid to negotiate with the seller about compensation. The seller may not have chosen to make an offer but may agree to negotiate for a sale.

[36:05] Brent’s final words: “Get used to having the conversation! … Those who get used to having it sooner are the ones who are going to win! We’re entering into an awesome market! Buyers are going to be more plentiful. If you can have the conversation, you’re going to convert faster than anybody else!”

[36:33] Thanks so much to Brent Lancaster for sharing so much wisdom! I hope this conversation expanded your thinking about the benefit of having a signed agreement with your buyers. It is common for us to have agreements with service providers. We should have one too, with our clients.

[36:58] Please join us for the second episode, where we will discuss the individual components of the agreement and why they are important. We will also discuss some of the considerations regarding even more clarification for the agreement, moving forward.

[37:13] In these days, please listen to people who are creating solutions for you and your business in healthy ways. Your ABR® instructors are working very hard all over the country to help us all be more focused on the quality service we bring to our clients and to help us communicate that clearly.

[37:35] Go to Learning. REALTOR to get more information about quality training online or in your local area. Getting your Accredited Buyer’s Representative designation is more important than ever. If you got it more than five years ago, you might consider getting it again. It’s been updated and is so helpful!

[38:08] Change can be good if we lean into the growth opportunities that it provides! Thanks for joining us! I’m Monica Neubauer for the Center for REALTOR® Development.

[39:17] When your clients ask you questions, have great conversations with them so you can go out there and help them buy those properties!

Tweetables:

“A lot of buyer’s agents have been staring at the Offer of Compensation and have just been accepting of what it is. Conceivably, I could show three different properties, do the exact same thing and essentially be offered three different levels of compensation.” — Brent Lancaster

“The sticking point is it’s different. A lot of agents haven’t done it before. It’s different and hard. Change is hard even if we want to do it. Now, we’re at the point where this agreement is something that’s potentially going to be necessary.” — Brent Lancaster

“[A Buyer Representation Agreement] is a contract where the buyer is saying ‘You’re going to do work for me and I’m going to pay you for that work.’ I don’t think that there’s anyone … that’s reasonable that expects agents not to get paid for what they do.” — Brent Lancaster

“That’s the market that we’re headed to and those buyer’s agents that are strong enough to have those conversations [about compensation], I think those are the ones that are going to win the deals.” — Brent Lancaster

Guest Links:
LancasterInstitute.com
BobBrooks.com

LinkedIn: Brent Lancaster

NAR Resource Links
ABR® Accredited Buyer’s Representative

Additional Links:

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

facts.realtor

098: “Navigating Client Conversations: Communicate Your Value with Confidence and Clarity with Lynn Madison: Part 1”
105 More Ways REALTORS® Are Worth Every Penny of Their Compensation

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page: Facebook.com/Monica.Neubauer

Instagram: Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Brent Lancaster

Brent Lancaster combines his love of the business of real estate with his passion for education. As president/CEO of one of the nation’s oldest real estate schools, he offers a variety of solutions to the challenges agents face in today’s real estate environment.

In 2003, Brent developed his first online course and has spent every year since searching for innovative ways to bring quality and consistency to every agent using multiple delivery formats. Today, he continues to teach classroom instruction but has transformed the traditional brick-and-mortar classroom into a multimedia educational experience called On-Live™.

Brent is also the broker/owner of his own real estate firm, Brent Lancaster & Associates.

Today we are talking about a topic that we all need to pay attention to. Many of us don’t like this part of our business. Our guest, Holly Mabery, is going to break it down to a simple plan for us to follow. What’s the topic? Marketing! Holly brings this huge concept to a manageable part of your business. She is also one of the subject matter experts for NAR’s Marketing Strategy and Lead Generation course. Let’s join Holly for some great information on marketing and a few laughs about this potentially overwhelming topic!

[3:38] The most successful agents are the ones who show up with value and substance to their clients. That’s the key to building your business. 

[4:00] Before selling a house, you have to figure out how to market yourself to get listings, how to market the listings, and then how to re-sell the house each time the buyer goes back to it. Clients will come to you because of how you show up and the consistency with which you show up.

[9:17] Holly coaches new agents to know the purchase contract better than anybody in the market. 

[12:33] Holly discusses three things to help with marketing. 

[22:02] If you spend a dollar, you should back that up in free ROI tenfold. If you can’t do that, don’t spend that dollar.

[24:08] Every time you earn a designation, like the Accredited Buyer Representative, put that certificate on LinkedIn and promote yourself. Every time you do an educational video put it on LinkedIn.

[24:55] Your phone is your second biggest tool, after your resume. Start using your phone! 

[26:54] Do a quarterly e-newsletter with a calendar. Spotlight a specific business. Include one real estate stat. 

[29:35] Google will let you send out 500 emails daily. Use MLS drip campaigns for targeted marketing. Look for opportunities to help people.

[35:01] Don’t be overwhelmed by the number of platforms. Pick one to start and focus on using it for 30 days. 

[36:36] If you can explain to your buyer or seller the ways they can get out of a contract, that builds trust.

[37:57] Ask for reviews. Ask people who loved you to talk about it. Rate My Agent is a great tool to use. 

[43:47] Your value proposition is to earn the trust of your client and take care of their needs. Identify what job your client is hiring you to do while you treat everybody equally. 

[53:07] Find your specialty; residential resale or new homes? Find that nuance. Where are you already showing up online? Accentuate that.

[55:35] Always be yourself! Be yourself authentically because people want to work with you. They want to refer you. If you’re anything but yourself, that will take more time, energy, and effort and burn you out faster. So always be yourself and show up in that way.

Tweetables:

“When you start to think of marketing, it’s huge, it's nuanced, and it’s layered. My best advice to everybody out there right now is to take a deep breath; inhale and exhale. It’s going to be fine. You can do it. Find your niche and be authentically yourself.” — Holly Mabery

“Show up. One thing at a time. Learn your contract first. Period.” — Holly Mabery

“You are the glue that puts the pieces together. [Your client] has all the pieces. You are the glue that pulls it together and helps them understand how it works.” — Holly Mabery

Guest Links:
Holly Mabery, VP of Operations at eXp Realty

eXprealty.com
Holly Mabery on LinkedIn

Rate My Agent

Related Episodes:

“Lead Generation Through Relationships with Sean Carpenter”

“The Champlain Towers Collapse: What REALTORS® Can Learn”

“What Are You Selling? How to Know Your Product and Communicate Your Expertise with Josh Cadillac”

NAR Resource Links
NAR.realtor/technology

Additional Links:

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Holly Mabery brings a contagious enthusiasm for all things real estate. A full-time REALTOR® since 1998, her passion for our industry led her to serve as the 2012 President of the Arizona Association of REALTORS® and she remains active on state & national committees. Holly is a VP of Brokerage Operations for eXp Realty and a former state-designated broker of Arizona supervising & training over 1800 agents. Holly is the Co-Creator of the Arizona REALTORS® Leadership Training Academy, a strategic planner, industry speaker, and instructor whose goal is to build strong communities with each transaction working with clients, REALTORS®, and associations.

Hollymabery.com

Do you want to know about AI, and specifically, ChatGPT? Alex is here to tell you all about it! Alex is a true tech person with a teacher’s heart. He will explain some of the inner workings of Natural Language Programming, which is what ChatGPT is: language. There are layers to this, and more changes are coming; changes that will make using ChatGPT even easier. So, let’s get some tips and some education from Alex Camelio!

[2:36] Alex looks for technologies that change the way we do business. For example, the Snapchat and Reels trend of holding your phone upright to watch video was a small, fundamental change to video.


[4:31] When Alex sees fundamental changes in people adapting and working differently, that’s when he starts thinking there’s a revolution or a trend that’s sticking around. He sees that with AI. 

[6:10] In a few months, Alex will be at NAR for two sessions involving AI. He discusses the sessions. 

[7:49] AI has limitations; it tends to lie or “hallucinate” when it lacks information to draw from! If you don’t give it good instructions and directions, it makes up something. 

[10:40] Alex Camelio is the CEO of Agent Inner Circle (AIC), agentinnercircle.com, a free community of about 40,000 agents. AIC publishes free content and articles to help agents in marketing and business practices.

[11:06] Alex had taught himself to code and has been coding since he was 10 or 11. About 15 years ago, he started a tech company, Barcode Realty, and sold it to Lone Wolf. 

[13:30] Alex believes that ChatGPT was a publicity stunt by OpenAI. OpenAI has been working on the Large Language Model (LLM) for years. Their mission statement is “Making artificial intelligence available for the world.” 

[18:25] ChatGPT learns over time. The apparent reason for the release of ChatGPT is to gather as much data as possible. It took off as a consumer product but is meant for the AI side of the world more than the consumer product side.

[19:47] Alex shares his thoughts on privacy. We carry an active listening device with us, day and night. If we want to go back to privacy we will need to make major cultural and government steps to protect it. 

[22:18] OpenAI, the creator of ChatGPT has an API behind the scenes. An API allows your website and server to connect to ChatGPT and the data, and use the AI through your website instead of through the platform. 

[23:18] An enterprise customer of OpenAI GPT has settings that allow them to change the creativity and other components of how the AI responds. 

[29:25] Alex predicts it will become less complicated to use AI. Alex has been building a tool called ChatGuide that gives access to a lot of these features. 

[35:18] Alex is setting up bots at ChatGuide that are cold-call teaching bots that pretend to be home sellers. You can chat with it and it will give you objections while you try to make a listing appointment. 

[39:01] Think about ChatGPT as if you were bringing on an assistant. You would take time to train the assistant on what you want. 

[45:38] CrystaKnows builds a DiSC profile on someone from social media. It’s a sales tool for agents who want to speak in the personality language of the person they’re talking to.

[52:45] Alex thanks Monica for having him on the show. He leaves you with a bit of philosophy. Will AI take your job?

[57:33] Don’t get too distracted by all the shiny objects, because they’re sure flying around, now! Your clients and friends are still out there, planning their lives, and you’re the one to help them at the perfect time. So, go talk to some folks and sell some properties!

Tweetables:

“I always look at technologies that will … change the way we’re doing business in some form. … In the last few years, there were … Snapchat and Instagram Reels. The trend there was vertical video. … Somebody said, ‘We need to hold our phones upright.’” — Alex Camelio

“AI can be very good at writing … but it also has some limitations. … If you just tell it to write something, it will commit Fair Housing violations, or it will make stuff up. … It tends to lie or ‘hallucinate’ … when it has a lack of information to draw from.” — Alex Camelio

“Think about [ChatGPT] like you’re bringing on an assistant. … An assistant shows up on their first day to work for you. Are you going to be able to say, ‘Write me a property description,’ and then expect a perfect property description … their first try?” — Alex Camelio

“The prompt to make a good property description is probably going to be anywhere from two to four times the length of the property description. … Think about it like you’re training an assistant. … A brand new assistant comes into your office; they have no idea.” — Alex Camelio

Guest Links:
Alex Camelio, owner and founder of Agent Inner Circle

https://agentinnercircle.com/
ChatGuide.ai (software referenced)

Alex Camelio on LinkedIn

Chat GPT is at chat.openai.com

AIPRM

CrystalKnows

DiSC

NAR Resource Links
NAR.realtor/technology

Additional Links:

JASPER

ZESTIMATES

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Alex Camelio
Throughout his career, Alex Camelio has personally helped over 15,000 Agents and Brokers, including some of the Top REALTORS® in North America. His passion for marketing, technology, and business development has translated into more than a decade of cutting-edge contributions to the real estate industry.

As the CEO of Agent Inner Circle®, a 40,000-member real estate agent community, Alex focuses on providing agents with education and actionable strategies to grow and optimize their business, ultimately building some of the most successful careers in real estate today. Alex is an internationally recognized educator who’s shared his thoughtful and energetic presentations with various National Associations and industry organizations.

Prior to AIC, Alex was the Co-Founder and President at Barcode Realty, a company focused on bringing cutting-edge mobile technology to the real estate industry, which he later sold to Lone Wolf Technologies

September is Safety Month at the NAR. We have a great episode with Andy Tolbert to help you stay aware and keep yourself safe as you do your job. I am so glad to have Andy Tolbert in this episode with me today. Andy lives in Florida, where she’s a speaker, real estate investor, and safety professional! So, join us for this episode about safety while selling!

[1:17] September is NAR Safety Month. The dangers to real estate professionals seem to be increasing — or are we just knowing more about the dangers?

[2:17] Andy has been in real estate for 20-plus years. She is a Florida broker associate, a state-permitted instructor, and an instructor and member of the Florida REALTORS® faculty. She has trained loan officers and real estate investors and is a self-defense and firearms instructor.

[3:29] Andy and her husband have written a book called The Safer Agent. It’s the real estate agent’s guide to make a ton of money and be safer doing it!

[4:54] Andy discusses her number one safety rule.

[5:37] Andy also teaches REALTOR® Safety and body language to law enforcement officers in Florida.

[7:08] Andy shares information about why certain people were targeted. Prisoners who have been charged with attacks were asked this question.

[9:07] Andy discusses the fight-or-flight physiological response of your body to danger.

[13:39] Andy discusses the four levels of awareness.

[14:37] Deciding where you need to be on that level of awareness scale involves three things: Where you are, whom you are with, and what you are doing.

[17:07] Andy says you need to train yourself not to ignore your gut feeling.

[20:58] Andy always tells her classes that she’s using the pronoun “he”, but it could be “she,” a child, an old person, or an animal that is used to get you to drop your guard.

[26:33] Andy discusses the steps to take before you show a house.

[40:28] How do you keep safe when entering a damaged home, such as from flooding or fire? Make sure it has first been officially inspected and found safe to enter.

[44:02] Facebook Marketplace is starting to have scams.

[51:21] Andy bought a property in mountain country. She discusses that going to a rural property is a big commitment.  

[53:04] A lot of people don’t realize how serious a matter REALTOR® safety is. According to the Bureau of Labor Statistics, in an average year, more than 50 real estate professionals die on the job for all reasons.

[54:16] If you are a broker, Andy stresses that you bring safety standards and training into your office and be serious about it. Don’t just make it a page in your new agent’s manual.

[58:39] So, what was your takeaway thought? This may be a great episode to take to your broker to open or continue the safety conversation in your office.

[59:14] Please review your personal and office safety policy this month. It is Safety Month, so be thinking of safety this month and all the time!

[59:32] At Learning.REALTOR, the Center for REALTOR® Development offers a whole webinar series on safety for your benefit and you can use those if you need to develop a new policy. We want you to be safe.

Tweetables:

“They’ve gone into prison, and they’ve interviewed guys that are in prison for attacking people on the streets and they've said, ‘Why did you pick the person you picked?’ And the answer is, ‘Because they weren't paying attention.’” — Andy Tolbert

“I’m never going to blame you for being a victim of something. However, let’s look back at the situation. Was there something you could have done differently that wouldn’t have made you a victim today? Usually, there’s something you could have done differently.” — Andy Tolbert

“If you are a broker and you’re listening to this, I want to super-duper stress to bring safety standards into your office. Bring safety training into your office. And be serious about it!” — Andy Tolbert

Guest Links:

Andy Tolbert on LinkedIn

The Safer Agent: The Real Estate Professional's Guide to Protecting Themselves & Their Customers, by Andy Tolbert

NAR Resource Links
NAR.realtor/technology

NAR Safety Webinar Series

“074: REALTOR® Safety Tips with Tracey Hawkins”

“044: Safety Tips for REALTORS® with Donny Allen”

Additional Links:

FOREWARN®

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Andy Tolbert

Andy has been in real estate for 20-plus years. She is a Florida broker associate, a state-permitted instructor, and an instructor and member of the Florida REALTORS® faculty. She has trained loan officers and real estate investors and is a self-defense and firearms instructor. About ten years ago, she was asked to bring safety training to the real estate world. She is now a real estate safety professional.

In this episode, we are talking about emerging technology. Dan Weisman and Dave Conroy work at NAR and are sharing with us their knowledge about technology in the real estate industry. We’re talking AI — yes, we all love ChatGPT — Chatbots, Fractional real estate, and what they see for the future of cryptocurrency. They have some software suggestions and usage tips for us as well. So, join us for this informative episode!

[2:31] Dan Weisman and Dave Conroy are the Directors of Emerging Technology at NAR.

[3:51] If agents do not feel they are able to keep up with emerging technologies, Dan encourages them not to feel bad. Even Dave feels on some days it’s like drinking from a firehose and keeping up with emerging technology is his full-time job.

[5:05] Proptech is any form of property technology. Dan and Dave also look at the adjacent industries of construction tech, financial tech (fintech), insurance tech, and mortgage tech.

[6:59] There is no shortage of data to feed proptech tools to help agents get a better understanding of their market and customers and complete more transactions.

[8:49] Dave explains the amount of data over the past 10 years has grown exponentially. Ninety percent of our data was created in the last 10 or so years.

[10:59] Some companies are backed by NAR, Second Century Ventures, and Reach. Plunk is one of them. They’ve got an AI-powered valuation model that digs into MLS showing data.

[15:09] Dan discusses AI products he and Dave have been researching for years similar to ChatGPT. 

[16:37] When you log into Amazon, it offers things you might be interested in, whether or not you have been thinking of it. That’s AI based on your habits, predicting your next move.

[18:22] ChatGPT feels like having a human-level intelligent personal assistant to answer questions about anything; how to write an email, recipes, and no shortage of help for REALTORS®.

[21:16] There will still need to be a person involved with the end product to make sure it’s written as you want it, the information is the way you want it to be displayed, and that it’s accurate.

[22:32] Monica points out that CRD is teaching classes on applying ChatGPT.

[24:53] ChatGPT is powerful but make sure you understand what problems or what areas you’re trying to be better at to increase your revenue, increase your business and provide better service.

[25:36] If Dave were recommending to a REALTOR® how to incorporate one of these large language models, Bard or ChatGPT, into their workflow, he would suggest they use it as a creative muse.

[27:03] Dan discusses image generation.

[30:54] Dan and Dave discuss ways to keep in touch and to join their monthly proptech meetups.

[33:56] Cryptocurrency has disappointed Dave who was bullish on it early. Make sure the tech you’re looking at isn’t a solution looking for a problem.

[38:03] Fractional real estate or fractional ownership of properties isn’t new, but there are new ways to get access to it.

[44:45] Global funding for technology is down. What does that mean for the United States agents?

[48:48] Automated listings use AI to analyze listing photos to help assist agents in creating listings.

[50:32] Some of the changes coming to real estate may require agents to be much more efficient. Agents can improve their efficiency with some of the AI tools discussed in this episode.

[57:46] There are lots of basics in our industry that are about people and relationships, and they’re based on that relationship. Technology is a tool to help us, not remove us from our clients’ lives. 

[58:19] You can follow up with Dan and Dave on LinkedIn to learn more. If you want to expand your tech knowledge, NAR also offers the e-PRO® certification. 

Tweetables: 

“You need to also know that it’s still a machine that was trained by someone that’s pulling data from somewhere. … It’s like 90% accurate. There’s still that 10%, which can get you in a lot of trouble sometimes. … Test it out but … verify everything.” — Dan Weisman 

“I would suggest that you just use [ChatGPT] as a muse; like a creative muse. …  It helps me get from zero to one. I feel like if I can just get started with something, finishing it is so much easier.” — Dave Conroy 

“How we operate has changed, and most of it is due to technology. It can be overwhelming but what’s most important is to understand the problem you’re trying to solve and what technology may be out there to help you solve it or at least be better at it.” — Dan Weisman 

“People will try a new piece of technology and it doesn’t work right out of the box, so they dismiss it. I would urge your listeners, please don’t dismiss technology because it can be very hard to predict how quickly the technology will advance and be adopted.” — Dave Conroy 

Guest Links:

Dan Weisman at NAR

Dan Weisman on LinkedIn

Dave Conroy at NAR

Dave Conroy on LinkedIn

ChatGPT

Dall-E 2

GetPlunk.com

Generative AI

Flock

Fractional

Summer

ListAssist

Emerging Technology with NAR

iOi Summit

Meetup.com/proptech

NAR Resource Links
NAR.realtor/technology

Additional Links: 

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse! 

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Dan Weisman

Dan Weisman is a Director of Emerging Technology within the Strategic Business, Innovation & Technology group at the National Association of REALTORS®. In his role, he focuses on how the intersection of business processes and technology may impact the real estate industry. 

Dave Conroy
Dave Conroy is a Director of Emerging Technology within the Strategic Business, Innovation & Technology group at the National Association of REALTORS®

Everyone is adapting to the technology they need, in their work and life. We want you to have the best tools that will benefit you and your clients. In this episode, Ali Whitley discusses working with our mature clients. The Seniors Real Estate Specialist® Designation (SRES®) is an amazing class that the Center for REALTOR® Development offers. This class discusses things you need to know. We discuss the technicalities of senior living, reverse mortgages, estates, taxes, and more. We also discuss helping our mature clients get established in communities and be connected in the ways that help them best. Thanks for joining us!

[2:22] Ali is an educator and loves all things education. She is happy to be the chair of the Emerging Business and Technology Forum for NAR this year.

[4:56] A person of the same age could have a very different lifestyle than another person. It depends on your activity and health and your ability to be active.

[8:16] Ali talks with clients about their interests. She finds out their activity level and the things they like to do.

[9:07] Art museums, libraries, and different types of opportunities in your community may have senior or 50-plus programs. When you get plugged into something, you find more to do. Do pre-work and find links for your clients to find their way.

[10:39] If we have things available for someone and we can start to identify it for them, their interests and their ability to meet people is going to “explode,” so they’ll be able to be connected in their communities.

[10:59] The Seniors Real Estate Specialist designation covers three generations: Gen X, Boomers, and the Silent Generation. These generations have different characteristics. They are very diverse in technology.

[11:59] As real estate professionals, we help clients across any technology abilities, know where they are, and meet them there, encouraging them to use technology in their transactions and their lives.

[12:20] Stereotypes are helpful for some conversations but don't ever over-assume things. Ali sees different generations using technology differently.

[13:36] Video chats and social media are useful for people to keep that connection and feel that they’re in the know with their community and their family.

[15:18] Ali sees older people using video doorbells to keep an eye on who’s coming up on their porch and when they’re getting deliveries and having visitors. They’re using health trackers and video medical appointments.

[16:52] When Monica’s parents find something that satisfies a need that they have determined, like their Ring doorbell, they are thrilled to have the technology. But they still don’t want “all of that technology.”

[20:15] We need to talk with our clients and learn their communication preferences.

[20:40] Our young clients don’t want to talk on the phone but our older clients want to talk on the phone and see us in person. This is a relationship-building business. We need to build the relationship in a way that the client is comfortable.

[26:19] There are all sorts of opportunities to use technology to make connections but face-to-face or voice-to-voice are important for people to feel connected.

[26:39] Ali is the chair of the Emerging Business and Technology Forum that works with the REACH program. The REACH program comes out of Second Century Ventures, the strategic investment arm of the National Association of REALTORS®.

[28:08] NAR chooses both REACH commercial and residential companies for technology that may be utilized in homes or businesses. Ali recommends some digital technology clients can use. 

[32:40] Ali suggests looking at the REACH program and Second Century Ventures to see all the REACH programs and classes.

[34:58] The Seniors Real Estate Specialist is one of many excellent offerings and you can find out more at Learning.REALTOR.

Tweetables:

“A person of the same age could be in a very different lifestyle than another person. It really depends on your activity level, your health level; how you really feel about yourself, and your ability to have activity.” — Ali Whitley

“Maybe someone had a real interest in something particular and their job took them in a different direction. Now, as they’re retiring, they can start to take those classes that they thought that they would enjoy.” — Ali Whitley

“As REALTORS®, we need to help clients across any technology abilities and we need to know where they are and meet them there and see if we can help to encourage new technology within their transactions.” — Ali Whitley

“They can see your smiling face on the video or they get to meet you in person and they get a feel for who you are, and then later, if … you’re sending a text, or you’re sending something through email, now they can put your face to it.” — Ali Whitley

Guest Links:

Ali Whitley, REALTOR®

ABR, CIPS, CRS, GRI, SRES, SRS, AHWD, e-PRO, PSA, RENE, RSPS, SFR, C2EX Endorsed
RE/MAX Crossroads

Aliwhitley.com

Prisid.io

REACH

Second Century Ventures

REACH Program Companies

nar.realtor/newsroom/second-century-ventures-announces-14-companies-for-2023-reach-scale-up-program

NAR Resource Links
Seniors Real Estate Specialist® (SRES®)

NAR NXT, The REALTOR® Experience

Additional Links:

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

[email protected]

Crdpodcast.REALTOR

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.REALTOR — List of all courses offered

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Ali Whitley

Ali Whitley is an active Residential Real Estate Agent and Director of Education at RE/MAX Crossroads. In addition to guiding buyer and seller clients through successful transactions, Ali is passionate about professional development and education. A skilled negotiator and experienced REALTOR® for over 26 years, she shares this expertise and empowers fellow agents as an educator and mentor, and as an instructor of Designations and Certifications. Ali is active in local, state, and national REALTOR® Associations, currently serving as President-Elect of Ohio REALTORS®, NAR Director and Chair of the Emerging Business and Technology Forum. She has been recognized as AABOR REALTOR® of the Year and as a “Woman of Note” by Crain’s Cleveland Business. Ali is committed to excellence, fostering an inclusive environment focused on sharing strategies for growth and success

In this bonus episode, we are joined by a member of the NAR staff, Alexia Smokler, a staff executive to NAR’s Fair Housing Policy Committee. That description does not begin to convey all the work that she does on our behalf and on behalf of the clients we serve. She has been key in developing the Bias Override class and Fairhaven.realtor. We are excited to discuss the programs she manages as well as learn what agents are doing in the marketplace, in this bonus episode!

[1:40] Monica welcomes and introduces Alexia Smokler, the Director of Fair Housing Policy and Programs for NAR. 

[2:19] Alexia discusses several of the educational programs she delivers such as Fairhaven, implicit bias training, NAR’s Fair Housing Champion award, and licensure reform efforts under the ACT Initiative, which NAR rolled out after the Newsday investigation in Long Island.

[3:52] Monica asks Alexia for definitions of Fair Housing, DEI, and Implicit Bias.

[8:18] Alexia discusses the difference between prejudice and discrimination.

[8:50] It’s important to distinguish that you can be engaging in discrimination without holding feelings of prejudice. This is discussed in the Implicit Bias course. 

[13:06] Alexia describes the Bias Override course. The problem with mental shortcuts is when they’re about people and they’re based on stereotypes. 

[16:57] The Bias Override course brings new terms to your mind. It helps you describe things you have felt and gives a name to it. Monica speaks of the trip she and her daughter took to Japan where there are not a lot of Westerners. 

[19:02] Alexia ties Monica’s Japan experience to the Bias Override course. She had the experience of being the minority and being the out-group. 

[20:53] Alexia speaks of studies that show that discrimination shrinks the economy. The wealth they would have generated that would have created more jobs does not get created.

[21:56] Morgan Stanley’s study found that lending discrimination had kept five million people out of home ownership nationwide.

[25:03] The wealth gap is not just attributable to differences in income. It’s also because of the historical support of White people to become homeowners.

[25:48] Alexia tells how the government involved itself in home ownership. They created the FHA which distributed loans according to redlining maps and most of the mortgages went to White people. 

[26:54] Black GIs were not able to get mortgages from lenders. They didn’t get to buy a house and pass that wealth down. 

[28:53] Lending discrimination is a big problem and it’s not just against People of Color. It’s also against women and people with disabilities. Loan officers need more Fair Housing training. Monica cites the books The Sum of Us and The Color of Law.

[31:30] In a couple of decades, we’ll be a majority-minority country. There will be no one majority group. We need to be ready to serve different kinds of people or we will miss out.

[32:56] Fairhaven.realtor is an interactive real estate simulation. You go into a fictional town and your task is to sell four homes in six months. You go through different scenarios where you encounter different kinds of discrimination taken from real Fair Housing cases or members’ FAQs. 

[43:09] The Fair Housing Champion Award was launched as part of the culture change around Fair Housing to celebrate people who are helping clients overcome historic barriers. Alexia discusses one applicant who stood out. 

[49:28] Alexia’s final word: What agents do is much more important than a transaction. It’s about the wealth that’s generated from a transaction that will impact generations. 

[50:37] The minimum that agents can do is to keep the highest standard of compliance with the law and take training and classes. Alexia offers ideas on how to help make it better in your community.

[53:04] All NAR certification and designation courses give you skills that help you level up your business so you can serve all your clients and your community better. 

Tweetables:

“DEI supports Fair Housing. So, if we’re inclusive, if we’re diverse, and if we’re open to different perspectives, then it naturally follows that we’re going to treat consumers better because we have that lens on how we approach everybody.” — Alexia Smokler

“Once you start making those assumptions, you’re down a dangerous road.” — Alexia Smokler

“Black folks earn 60% of the income that White people earn. But they have only about 12% of the wealth. … The average wealth of a White person [with] a high school education is higher than the wealth of a Black or Hispanic person who has a college education.” — Alexia Smokler

“Loan officers need more Fair Housing training.” — Alexia Smokler

Guest Links:

Alexia Smokler

[email protected]

Fair Housing Champions: https://www.nar.realtor/fair-housing/fair-housing-champion-award

Bias Override Class: https://www.nar.realtor/fair-housing/bias-override-overcoming-barriers-to-fair-housing

The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together, by Heather McGhee

The Color of Law: A Forgotten History of How Our Government Segregated America, by Richard Rothstein

Long Island Divided

NAR Resource Links
At Home With Diversity®

Bias Override Class

Fairhaven.REALTOR

NAR’s ACT! initiative

Additional Links:

Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

Crdpodcast.realtor

Learning.REALTOR — for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.Realtor — List of all courses offered

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Alexia Smokler

Alexia Smokler represents NAR’s positions on Fair Housing to Congress and federal agencies and leads NAR’s ACT! initiative, which emphasizes Accountability, Culture Change, and Training to advance fair housing in the industry. She led the development of Fairhaven: A Fair Housing Simulation, and Bias Override: Overcoming Barriers to Fair Housing. Alexia also oversees NAR’s discrimination self-testing program for real estate brokerages, NAR’s fair housing real estate licensure reform efforts, and other projects aimed at closing racial and ethnic homeownership gaps. Alexia serves as staff executive to NAR’s Fair Housing Policy Committee and writes and speaks regularly on fair housing issues to audiences around the country. Her 2021 cover story for REALTOR® Magazine, Repairers of the Breach, won several awards for excellence in business-to-business journalism.

Before joining NAR, Alexia worked in fair housing enforcement at HUD, on the staff of Congressman John Conyers, Jr., and with nonprofit civil rights organizations. She is admitted to practice law in Maryland and holds a law degree from the University of California, Berkeley, School of Law; a master's degree in public affairs from Princeton University’s School of Public and International Affairs; and a bachelor’s degree in government from Smith College. She lives in Alexandria, Virginia.

In this episode, we are joined by Mandy Neat who is going to discuss commonalities in homebuying trends with Generation Y (Millennials) and Generation Z. With significant cultural changes happening at increasingly fast speeds, we see notable differences in these generations. While we never want to generalize, there are some markers with these generations that can help us understand our clients better. In this episode, we learn more about these generations and how we can manage their expectations with preparation and communication. We want to help you be able to help them!

[5:20] Mandy discusses the different generations. She brings up a conversation with a Gen Z about what he would want in a house. 

[7:33] Gen Y is the next largest home-buying group after Baby Boomers.

[11:06] Mandy sees that people are not going right to college from high school. They see housing as an asset. Some are buying investment properties. 

[15:46] Younger Millennials are becoming first-time home buyers. They are trying to pay off their student debt, while Gen Z is avoiding going into student debt.

[18:55] COVID-19 changed house-buying habits. At the beginning of COVID-19, Younger Millennials and Gen Z-ers jumped into the market without fear.

[21:48] Gen Y and Gen Z want everything to be easy to understand. Home buying is potentially complicated and may take time. Mandy discusses the Consumer Financial Protection Bureau (CFPB) as a resource.

[27:55] Younger people go to an app on their phone to get information. Real estate professionals need to get in front of technology trends.

[30:11] Mandy talks about DPA (Down Payment Assistance) which can help clients buy a house. She also discusses knowing your Confirming Loan Limit.

[34:44] Mandy shares that a lot of Gen Z-ers are using family gifts. There are All-In-One Loans where the home buyer can set up a GoFundMe account to be applied toward a down payment. Lenders are coming out with products to help young borrowers.

[37:11] TikTok and YouTube make everything look so easy when it comes to home updates. People are opening their minds as to what is possible.

[41:12] Mandy is seeing more people buying homes with spaces to work from home and have a social life at home. There is a lot of openness in floor plans.

[44:19] Millennials care more about walkable city living rather than their apartment. Gen Z-ers are buying out of the city in more affordable growing areas. 

[47:35] Mandy comments on what she observed recently in Wichita, Kansas, with a community full of Gen Z-ers, built around diversity. 

[51:56] Mandy hopes that all generations will allow Gen Z and the younger Millennials to get in the conversation of infrastructures, jobs and how to make a difference.

[52:40] If you enjoyed this episode, there are classes you can take to enhance your knowledge: ABR® (Accredited Buyer’s Representation), and the Buyers by Generation: Success in Every Segment course.

Tweetables:

“It’s just how their brains are wired. They have so much information. At 18, there’s no reason not to go out and purchase, instead of paying all this tuition money, and build your legacy for your wealth in the future. It’s an amazing generation.” — Mandy Neat

“We need good loan officers. We need to empower the mortgage industry to take time with people … and show them the numbers … and … professionals in the real estate community that are willing to … go over it with them to make sure all their questions are answered.” — Mandy Neat

“You can obtain a Down Payment Assistance Program and offset your down payment. Try to negotiate closing costs with the seller. You can come in with a minimal amount and own a half-a-million-dollar asset. What other country can you do that in?” — Mandy Neat

“Gen Z and Millennials have this great thing where lenders are coming out with products to help them collect money to buy a house.” — Mandy Neat

Guest Links:

Mandy Neat, REALTOR®

Deputy Commissioner, Arizona Department of Real Estate

Mandy Neat

Mandy Neat at Realty One

Arizona Association of REALTORS®

WeSERV

Consumer Financial Protection Bureau (CFPB)

Foreign Investment in Real Property Tax Act (FIRPTA)

NAR Resource Links
The ABR Designation

The CIPS Designation

Buyers by Generation

Additional Links:

Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

Crdpodcast.realtor

Learning.REALTOR -  for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

CRD.Realtor - List of all courses offered

If this conversation has helped you realize that perhaps more conversation about generations would be helpful, there are classes you can take: the ABR® and an elective, Buyers by Generation: Success in Every Segment. crd.realtor

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Mandy Neat

Mandy Neat is the 2023 Treasurer for the Arizona Association of REALTORS®. She serves on committees and as a member of the board of directors for the local association WeSERV, which is the West and Southeast REALTORS® of the Valley, where she is also a Past President. She serves with the Arizona Association of REALTORS® and the National Association of REALTORS®. She obtained her license in 2004 and has continued to serve her community as an advocate for home ownership as well as assisting other professionals to succeed. She truly believes in her value statement of making you matter. As a current managing broker of Realty One Group, she puts her agents’ needs and their clients first, daily.

Our guest for this episode is a long-time REALTOR®, trainer, and world traveler. Do you have a dream to travel somewhere? Is there a place that you already love in the world? For example, have you been to Cabo San Lucas eight times? Wouldn’t it be great if you could be a connector with buyers and sellers with agents in Mexico? In the Caribbean? In Europe? In Asia? You can do that with your favorite areas in the U.S. and the world! In this podcast, Ginni Field talks about selling real estate and expanding your business in new ways. We also talk about international buyers and sellers in the United States with a focus on the Certified International Property Specialist (CIPS) designation. Join us on this podcast and expand your vision beyond your local area.

[6:10] Monica asks the audience to stick with this episode to hear the interesting stories Ginni and Monica will share with consideration for the huge and growing influx of international immigrants, residents, and investors.

[7:53] Ginni discusses what she learned from experiences in France, Belgium, Luxembourg, Spain, Portugal, and Germany.

[11:56] When traveling the world, you have the opportunity to visit small towns and explore their history. Find people in your community from these areas and connect with them. You may be able to help them buy a home.

[14:14] In most of the world, business is based so much on relationships. In America, relationships are huge and you need that network, but overseas, relationships are crucial.

[15:18] In the Americas, the process of buying a home is a family affair. If they don’t know you, they’re not doing anything with you. When they know you and begin to trust you, business happens.

[17:36] Where Ginni was teaching, there were good universities and schools everywhere, providing a place to build your business.

[18:08] Find your niche and get connected to it. Be a part of those market areas and people. What businesses bring people into your market area, that hire people from other countries?

[18:34] Foreign resident buyers may become citizens and still may be very connected to their foreign community.

[21:42] When Ginni talks to people with work visas, they tell her they want to stay when their visa is over. Parents of foreign students in universities also will buy a home for their student in the U.S. with the hope of the student staying and the parents moving there because they own a home.

[22:44] The Open Doors fact sheet says foreign students spend over $5 billion. Ginni gives estimates for several California universities. Do outreach at universities.

[24:05] Look at the industries in your local community and where folks are coming from. Then begin to do outreach. Go where they are and network with them.

[24:31] Refugee groups that settle in an area don’t have the money to buy a house at the time, but as they become established, they work and build businesses, and become qualified to buy houses.

[26:00] Ginni tells of a man who immigrated to the U.S. with next to nothing, wanting to build his life. Now, he is a millionaire, owning multiple buildings and worked hard to get there.

[27:21] CIPS talks a lot about non-resident foreign buyers. These are investors buying houses more as investments than as homes. California attracts more than $1 billion in foreign direct investments from Japan, the UK, France, Canada, and Germany.

[30:07] The fluctuation of exchange rates plays an important role in these investments. Fluctuations can cause a buyer to cancel.

[32:14] The CIPS designation course teaches about the global market. If you’re not paying attention to global opportunities, you’re leaving profitable business on the table.

[35:55] The world is more connected now than it ever was. Inflation is happening around the world. Pay attention to the world economy or you will miss out on tremendous opportunities.

[36:33] There are investors for commercial properties, condo communities marketed internationally, college students, and refugee communities. There are many ways foreign investors purchase American real estate.

[37:19] When you grow with these communities, learn about their visas and their needs, and connect them with lenders, you can help them.

[38:22] Go to the HR departments of hospitals and colleges. Find out at the source how you can be a resource for their students, staff, employees, and medical professionals.

[44:32] Look for international real estate conferences in a search engine and you will get a list of conferences you can attend. A list is also provided in the back of a CIPS manual.

[48:11] Ginni notes that when you get your CIPS designation, you are part of a Facebook networking group. You can find an agent in the target country in minutes through the networking group

[52:15] It’s such a powerful thing that you can create a relationship no matter where somebody is in the world. We’re all so interconnected.

[52:38] Ginni’s final word: “The most important thing is don’t discount the global community. Don’t discount the fact that the world really is a marble, that we are all so interconnected. And build that business and get the CIPS designation. It’s such an important designation.

Tweetables:

“I want to share with you and your listeners the importance of global real estate, paying attention to it, and getting their Certified International Property Specialist designation. Don’t miss out on opportunity!” — Ginni Field

“It’s all about the relationship and trust. … When you look at the Americas, it’s a family affair. The process of buying real estate is often a family affair with a hierarchy. And if they don’t know you, they’re not doing anything with you.” — Ginni Field

“The fluctuation of exchange rates — you have to be paying attention to that. It matters more for the investor buyer than it does for the person who’s going to live in the house. ... If the exchange rate fluctuates just enough, that deal might be gone.” — Ginni Field

“When you get your CIPS designation, you‘re now part of a networking group through social media, as well.” — Ginni Field

Guest Links:

Ginni Field, REALTOR®

ABR, AHWD, CIPS, CRB, C-RETS, ePro, GRI, MRP, PSA, RENE, RSPS, SFR, SRS, SRES

Real Estate Trainer, Business Consultant, Risk Management Consultant, Business & Life Coach

[email protected]

www.ginnifield.com

858-774-7063

NAR Resource Links

The CIPS Designation

Additional Links:

Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!

Crdpodcast.com

Learning.REALTOR for NAR Online Education

Training4RE.com — List of Classroom Courses from NAR and its affiliates

[email protected]

Host Information:

Monica Neubauer

Speaker/Podcaster/REALTOR®

[email protected]

MonicaNeubauer.com

FranklinTNBlog.com

Monica’s Facebook Page

Facebook.com/Monica.Neubauer

Instagram

Instagram.com/MonicaNeubauerSpeaks

Guest Bio

Ginni Field

Ginni has been in real estate since 1986, beginning her career in Fairfield, CT, and moving to San Diego, CA, and continuing her real estate career in California. Throughout most of her real estate career, Ginni served in brokerage management positions in both states with her largest office consisting of 250 agents creating profitable real estate offices in each location. Ginni has also served as Vice President of Leadership Development for an international real estate franchise sales company where she developed agent and leadership curriculum for agents and brokerage leaders. Ginni continues to write real estate training content as well as work with real estate companies as a consultant and as a coach to individual real estate agents and teams.

Achievements and Awards:

●      REALTOR® Associate of the Year 1991 Greater Fairfield Association of REALTORS®

●      President, Greater Fairfield Association of REALTORS® 1998

●      REALTOR® of the Year 1998, Greater Fairfield Association of REALTORS®

●      Former Director, Connecticut Association of REALTORS®

●      President, North San Diego County Association of REALTORS® 2004

●      Former Director, California Association of REALTORS®

●      Regional Chair, Region 29, California Association of REALTORS® 2006

●      Executive Committee, California Association of REALTORS® 2007

●      Director, National Association of REALTORS® 2004‒2010

●      Former Member, National Association of REALTORS® Professional Development Committee

●      Former Chair, Real Estate Business Institute Professional Development Committee

●      Member, Real Estate Business Institute Learning Experiences Committee and Strategic Thinking Committee

●      Former Director, Greater San Diego Association of REALTORS®

●      Former Director, San Diego Multiple Listing System

●      Inducted into the REBAC Hall of Fame 2013

●      CIPS Instructor of the Year 2018

●      Senior Real Estate Specialist Outstanding Service Award 2021