InsideThis Issue:

JANUARY 2020

PAGE ▪ REIN.com by the Numbers2

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3 ▪ Saving with REIN... Did you know?

▪ The Journey of Learning

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4 ▪ Be a Local Market Expert

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6 ▪ At Work With... REIN’s Marites Barreras and Randy Hirst

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7 ▪ REIN’s 2020 Board of Directors

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8

Boost Your Credibility by Building up Your

Hyper-Local Marketing Strategy

By Amber Mitchell, REIN Social Media Coordinator

Would you describe yourself as a true local expert? Are you familiar with every little nook and cranny in the neighborhoods you service? Being a top producing agent can be achieved with a solid hyper-local marketing strategy. If you want to demonstrate your credibility and value to consumers, position yourself as a local expert. Understanding the local community can help you stand out against the national brands that are scrambling to stay top of mind with consumers. So, if you’re not sure if you are doing what it takes to keep your local audience coming to you for their needs, here are some tips on how you can get hyper-local with your marketing.

▪ Create guides: Build guides specific to the community you are marketing to. Are you marketing to a beach community? Create a guide mapping out the best hidden beaches in the area. Is the local area known for great summer festivals? Create a must-see summer festival list. Draw the consumer in with your knowledge of the area they want to call home.

▪ Volunteer in the community: Give your time to a local charity. What better way to show you care about the area you are marketing to than to give back to it? Connect with an organization that you can give to regularly so others know that you care beyond the selling process. This shows that it’s more than just business for you.

▪ Community events: Find a community event you can be a part of or even host. This will give you an opportunity

to not only show your face but even speak on your expertise as an agent. Offer yourself as a ready source of information and be willing to field questions from attendees. This is your opportunity to connect, educate and become memorable.

▪ Contribute to online groups and forums: Find a Facebook group or other forum sites like Trip Advisor where you can inject yourself into the conversation

about specific neighborhoods. People are constantly asking questions in these kinds of outlets, and it’s a prime opportunity for you to be the one to answer their questions. This is also a great way for you to drop a link to your own content

or website (depending on the rules of the forum). Also, don’t be afraid to start your own Facebook group or even partner with someone in another industry to cover the needs of consumers.

▪ Use location tagging on social media: Facebook and Instagram allow you to tag your location in a post. This gives you a chance to show up in search results for the specific location you tag. Remember, being as specific as possible is key when it comes to your hyper-local strategy.

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Understanding the local community can help you stand out.

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Saving WithSaving With

60,539Unique Visitors to the site

103,997Sessions on the site

8.64 pages Average number of pageviews per session

829 Clicks to call the Listing Broker or Agent

166 Clicks to email the Listing Broker or Agent

By the NumbersWe hope you are exploring REIN.com and sending your clients to the site as well. We’d love to hear your feedback, especially if you’ve received quality leads directly from REIN.com. Share your story today! Email us at marketing@reininc.com.

REIN.com ▪ A REGIONAL home search portal, 100% dedicated to Hampton Roads

real estate

▪ REIN.com is the FIRST to get all the new listings – before the national sites

▪ Listing information the public can TRUST, because it comes from the local MLS, which means it comes directly from the listing brokers and agents

▪ All leads go to the listing broker and agent AT NO COST

During the first three months since launch, REIN.com has generated:

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Did you know that you have many opportunities to save money with REIN? Check it out…

Saving With

Ways to SavePre-payment of Licensee FeesREIN members who pre-pay for a year may qualify to receive a discount equivalent to one month’s licensee fees. Contact REIN’s Accounting Department at 757.531.7904 for details.

Longevity ExemptionSeniority has its benefits. If you have been licensed with Virginia’s Real Estate Board (VREB) for 35 or more years and are at least 70 years of age, you may be eligible for REIN’s Longevity Exemption. This benefit exempts the licensee from having to pay the quarterly licensee fee while maintaining full access to REIN’s products and services. To request a Longevity Exemption, a principal or managing broker must submit a letter with the licensee’s original certification date with VREB and date of birth to REIN. For more information contact REIN’s Customer Service Department at 757.531.7903.

Reduction of Licensee FeesA Broker may submit a request for a reduction in licensee fees on behalf of any REIN licensee who is active with REIN and who is also a member of another MLS which overlaps REIN’s service area, and where the Broker member is also a member. Evidence of membership of other MLSs must be provided to REIN to be eligible. For more information contact Customer Service.

Avoiding Common FinesThe integrity of REIN’s MLS data is vital to our real estate community. Brokers and Agents rely on the accuracy of both current and historical information in our database on a daily basis. For the most part, REIN is a self-policing community, meaning the majority of the violations that come through our compliance departments are reported to us by other licensees. By being aware of REIN’s Rules and Regulations, and following the guidelines of our Procedures Manual, you can save yourself lots of time and money.

Top Five Listing Compliance Issues

1. Late Listing Input – To avoid fines, REIN encourages any person with listing input rights to enter ALL listings into REIN’s MLS system within two business days from the List

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Date indicated on the Standard Listing Agreement (SLA). Non-compliance with this rule may result in a $100 late input fee to the Listing Agent.

2. Contingency Removal – Listing Agents are required to report a listing as Pending within two business days of removing a contingency. Failure to do so will incur a $50 fine.

3. Public Remarks – The Public Remarks section of a listing is a very important marketing tool, providing a vital space to describe the home. However, some information is prohibited from being displayed in this section.

▪ No firm, agent or seller information (no branding or contact details)

▪ No URL’s or website addresses

▪ No financial or other incentive dependent on the buyer not engaging a broker

▪ No Open House information

▪ This field cannot violate any Fair Housing laws

These violations will incur a $250 fine.

4. Late Settlement – A listing must be reported as Settled within 10 consecutive days of the closing. Listing Agents not reporting within the required time frame are assessed a $100 fine.

5. Photos & Virtual Tours – Listing photos may not contain any promotional information that serves as branding for a person or company; this includes names, phone numbers, signage, email addresses, website addresses, photos of the agent or firm, logos and audio. Photos may not include superimposed text, images, graphic overlays, watermarks, etc. except for location arrows pointing to the property and property/lot lines. REIN provides four fields for Virtual Tours: (1) Unbranded Tour, (2) Branded Tour, (3) 3D Tour, (4) Aerial Drone Tour. Tours with agent and/or firm branding are only permitted in the Branded Tour field. Violations of the photo and virtual tour rule are considered a Public Remarks violation and carry a $250 fine.

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By Marlena Hairston, REIN Peninsula Marketing & Branch Coordinator

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Unfortunately, citing violations of the MLS rules and regulations is necessary to ensure our data is accurate and complete for all members. If you ever have questions about what is allowed or not, or just want to make sure you are inputting a listing correctly, please feel free to contact REIN at any time via phone, web support or email. We are your support team.

757.531.7902 listings@reininc.comwww.REINMLS.com

Remember the adage, “life is a journey, not a destination”? The same can apply to learning. You never stop learning; being a student is a lifelong journey. Whether you are new to the real estate business or remember listings being delivered to the offices in books, one thing remains the same; the only constant is change.

As technology advances and MLS products are enhanced, it’s up to you to learn (or re-learn) tools or skills that can help your business grow… or make your day a little easier. Training on all REIN products is included with your MLS membership. Members can attend classes at any of REIN’s three locations or via live webinars from the convenience of your home or office. Because we all learn differently, and at our own pace, courses can be taken as often as you need them.

Taking refresher classes is a great way to stay informed of product updates and helpful features that tend to be forgotten over time. If you do not use a product often, it is expected that

you will forget a few steps needed to perform certain tasks. The work you put into learning the ins-and-outs of any product will only benefit you and your client’s experience later.

The classroom is a great place for seasoned agents to share their experiences with newly licensed members. It’s a safe space to walk through scenarios that can prepare you for future client interactions. It’s a platform to discuss inefficiencies of a product, collaborate and problem-solve, then submit enhancement requests. It’s the gathering of old friends and the networking of new, like-minded professionals to further build your personal business tribe. When you are in the classroom, you are part of a network that encourages, motivates and empowers.

In 2020, the Training team will begin releasing the course calendar on a bi-monthly basis to make class planning easier for you. So, we ask… have you been to a training class lately?

....Saving with REIN continued

By Lindsay Stephenson, REIN Marketing Manager - Broker Relations & Brand Management

THE JOURNEY OF LEARNING

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▪ Use REIN products: Of course, we couldn’t leave you without giving you some tips using products that you already have in your back pocket.

▪ Matrix: Matrix allows you to dive deep into choosing what markets you want to focus your efforts on. Once your desired criteria have been entered in a Matrix search, click Stats then Tabular to view a complete breakdown of Status, Area, Sub Property Type, Subdivision or City/County.

▪ Market Stats: MarketStats is a great tool for comparing several markets you may be working. Compare up to four areas at any given time with MarketStats. Just add four Subdivisions with a few clicks and compare charts for Average/Median Sales Price, Closed Sales, Days on Market, Months Supply and more.

▪ Remine: Understand the demographic of your audience by using Remine. Drill down to a postal code route by using Remine’s demographics feature. When viewing information on a property, scroll down to the Demographics section to see percentages for items such as schooling, income and age.

If you would like more information on how to use REIN products to explore and discover your niche, come in for a training class! Saying you are the local expert isn’t enough. Consumers want to know they can trust you and your knowledge of the area. Prove that you are THE resource for your local markets by educating yourself on every aspect of your service areas.

....Boost Your Credibility continued

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With the start of a new year, you may find yourself scrambling to gather year-end statistics. Whether you plan to compare local market trends to national news, research firm standings for a company advertisement or just compile your personal inventory for annual awards, your MLS provides numerous tools to make gathering these numbers a little easier.

Did you know that your MLS has an internal Stats team? The first week of every month is “Stats Week”. It’s during this time that listing and sales data is queried, analyzed and written up in different ways for you to print, send or share. It’s important that your email address on file remains up-to-date to ensure you receive these monthly e-communications. Here are a few places where you can find statistics to leverage:

▪ REINMLS – Monthly and quarterly stats are stored on REINMLS for your convenience. Once logged into REINMLS.com, just search for the word, Statistics. Save, print and share!

▪ MATRIX – The Agent Awards Report and the Agent Production Report can be found under the Market Reports tab in Matrix. All you need to get started is an Agent ID # or an Office ID #. For a graph or raw numbers, run a Cross-Property search. Once on the Results grid, click Stats for options!

▪ MARKETSTATS – Compare up to four areas at any given time. These areas can be Cities/Counties, Subdivisions, Area Numbers or even a drawn area that you’ve precisely drafted.

▪ SOCIAL MEDIA – REIN compiles monthly, quarterly and annual stats. Don’t stress about creating content. Let your MLS help! As the Hampton Roads Market Summary is posted to Facebook, Instagram and Twitter, feel free to share, share, share!

For more information on these tools and how to make them work for you, contact REIN’s Product Support & Training team at support@reininc.com.

BE A LOCAL MARKET EXPERTBy Lindsay Stephenson, REIN Marketing Manager - Broker Relations & Brand Management

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AT WORK WITH:

Introducing Marites Barreras! Friends and family call her “Mar” for short. Although Mar was born in San Diego and is a self-described “military brat”, she says she’s lived in Hampton Roads long enough to identify as a local. She graduated from Granby High School, and has an Associate’s Degree in Business Management. Mar is a very proud mom to two young adults – one currently in his second year at Virginia Tech, the other a graduate with an Associate’s Degree.

Prior to joining the REIN team in July 2018, Mar’s career had primarily been within the medical field. So the move to real estate was a real change, and an exciting one according to Mar. As an Accounts Receivable Rep, Mar is responsible for receiving and posting payments, handling all “store” sales generated by Customer Service, (such as for the sale of signs) and fielding calls from members with questions about their accounts. There is always something new to learn in the Accounting Department, and she says she loves the daily challenge her job provides. “I work with a wonderful group of people. We all get along and it’s truly a team effort every day. I really enjoy being part of the REIN family,” says Mar.

Marites Barreras

Randy Hirst joined the REIN team in April 2019. As the Product Support and Data Supervisor, Randy supervises the distribution of REIN’s data to vendors, as well as the policies and procedures that dictate the who, what, when, where and how that data is shared. In addition, Randy oversees REIN’s Product Support team, ensuring that staff is offering the best, up-to-date and consistent technical support by phone and email.

Originally from Tonasket, a small, rural town in north central Washington state, Randy grew up around the outdoors, enjoying hunting, fishing, water skiing, snowmobiling and camping. The experience of growing up in an agricultural community and around his parents’ restaurant and funeral industries taught Randy to be very people-oriented. After high school, he studied metallurgy at Spokane Community College, and furthered his studies in Mass Media & Communications/Political Science at

Whitworth University in Spokane, WA. Randy is a disabled American Veteran, discharged after 17 years of active duty service as a US Navy Cryptologic Technician (Technical).

Randy now lives in Virginia Beach with is wife, Moira, his two daughters and two dogs. When not at work, he likes to spend time with his family, friends and pets. He is a sports enthusiast, enjoys music, likes to cook, taste wine and is an avid reader of history.

Randy Hirst

Accounts Receivable Representative

Product Support & Data Supervisor

Follow Us

REIN MLS

Question: How long does a shared chart from MarketStats/InfoSparks stay active after its initial creation?The first REIN member to email the correct answer to marketing@reininc.com will win a Starbucks gift card!* *Winner will be contacted and also announced on REIN’s Facebook page. Contest ends 1/31/2020

CONTEST

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Main Office4575 Bonney Road

Virginia Beach, VA 23462757.531.7900

Branch Office1001 N. Campus Parkway

Hampton, VA 23666757.595.7346

Branch Office1040 University Blvd.Portsmouth, VA 23703

757.966.5632

If you have any questions, comments or suggestions regarding this issue or future

issues, please contact us atNavigator@reininc.com or 757.531.7900

Tell Us What You Think

2020BOARDDIRECTORS

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PAST PRESIDENTBarbara Wolcott

PRESIDENTBarry Nachman

VICE PRESIDENTHarry Cross

DIRECTORAmy Doll

DIRECTORRusty Hulett

DIRECTORLiz Moore

DIRECTORJon McAchran

SECRETARYArt Zachary

DIRECTORDennis Cestra

TREASURERKris Weaver