Want Platinum? Here's How it's Done!

Want Platinum? Here's How It's Done By Deborah Ball Kearns, RE/MAX Times Online Associate Editor Her time in the U.S. Army taught Adrienne Lally structure and discipline. It also brought her to Honolulu, where she and her team specialize in serving the military community. The Platinum Club and Hall of Fame member with RE/MAX Honolulu in Kapolei, Hawaii, bills herself as a military relocation specialist. She's also the author of the book "The Honolulu Real Estate Guide." Specializing in a niche, says Lally (ABR, CDPE, FSP, SFR), is the best way to stand out in your market. Here are other tips Lally shares for growing your business: Tell us about your Honolulu market. The inventory is low in certain areas, and buyers are having a harder time getting financing as the guidelines have tightened. We have a huge military population here that still has access to a buyer tax credit, so we're busy right now. The townhouse/condo delinquency rates on HOA dues have skyrocketed. Short Sales are a major part of our business; we have 40 active Short Sales listings right now. Why should agents specialize in a niche? Specializing in a niche gives you the ability to empathize and relate better to the clients you're working with. You develop a deeper understanding of what that buyer or seller is faced with. No matter what, you still give your clients the same great service and attention, but if you have specialized knowledge in a certain area, you can make a name for yourself as the go-to expert. I understand how military buyers and sellers think because I was in the Army for a short time. You get your orders and move around every three to four years. They have a lot of time constraints, and they appreciate an agent who can empathize with them. Plus, I'm familiar with the documentation and programs that pertain specifically to military clients, such as the VA Homeowners Assistance Program and the First-time Homebuyer Tax Credit for members of the military. What's your favorite part of the sales process? I like getting to know my clients and forming a relationship with them. There's a methodical process when you take a new listing. We have sellers come to our office for the first consultation. The interview goes both ways – they're interviewing me for the job and I'm interviewing them to see if it's a good fit. What's the best way to be an effective negotiator? Be a good listener. It's that easy. I set the tone for negotiations at that very first meeting. I let my clients know what to expect and what our process is so there are no surprises. Being empathetic and listening to your client goes a long way, but you also have to be honest and up-front. When it comes to buyers, I refuse to work with people who consistently want to submit low-ball offers. How do you handle objections? We frequently hear the price-reduction objection. Many of our clients are doing Short Sales, so they typically object to the bank's requested seller contribution. We'll usually go back and negotiate that with the bank, or get the buyer to pay for it. The most common buyer objection is to my commission. I circumvent that one by asking them if this major purchase is worth the gamble of hiring a rookie agent with no experience. My team works hard for commissions and we have plenty of people to work with. We're not discount brokers. What are your best marketing methods? I've advertised in Honolulu's Real Estate Book for the past five years using a two-page spread. It's effective and impressive to both buyers and sellers. We also send an item of value to our database every month – usually a coupon from one of our recommended service providers. We also hold a client appreciation party each year to thank our clients for their business, which is crucial to do no matter how busy you are. We use the RE/MAX Design Center for all of our just-sold postcards. These go out after every closing to both buyers and sellers. We also use the Design Center flyers for our open houses. Almost every lead we get from our team website and LeadStreet is put on a drip e-mail campaign. We host a lot of open houses, but we keep them short – an hour at most. It gives us a chance to see into the psychology of the buyers out there, and it creates more visibility for our listings. What kind of mindset creates success? A positive mental attitude is a must. Repeat positive affirmations every day. It's also extremely important to create and follow consistent business practices. Come up with a process that works for you and follow it. What education is most helpful to your career? I attend RE/MAX conventions every year, and I always come back refreshed with new ideas and new contacts. I also get to meet up with my mom, a Broker/Owner of RE/MAX Sawgrass Realty, in Tamarac, Fla. She was my first mentor. I'm a member of the Buffini organization, and their one-on-one coaching has been very helpful. The Certified Distressed Property Expert designation is a must-have. I listen to the CDPE conference calls and apply as much as I can to our business. I was in the Army before getting my real estate license; that's how I ended up in Hawaii. The structure and discipline I learned in the military set me up to be a successful business owner. What's your best piece of advice to other agents? Surround yourself with positive influences. Think about joining a team or forming one. Having a coach who guides me and pushes me to do better has really helped me get to the next level in my career. Take good care of your clients and they will take care of you. Don't be afraid to ask them for referrals. © 2010 RE/MAX, LLC. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.