Arcadia
REALTOR速
The Official Publication of the Arcadia Association of REALTORS速
Top Tips to JumpStart Your Career See page 13
Ten Important Steps in Finding, Hiring and Working with a Contractor See page 11
Attend For a Chance to Win an iPad! See page 8 for details
APRIL 2012
WWW.THEAAR.COM
1 VOL. 16, NO. 4
Arcadia
REALTOR®
Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006 626.446.2115 626.446.4072 FAX www.TheAAR.com
2012 ASSOCIATION OFFICERS
REGULAR FEATURES 4 Events Calendar
4 From the EVP’s Desk Andrew Cooper, Executive Vice President
5 Attorney Comments Dave Freeman, AAR Legal Counsel
6 Market Matters
10 Tech Talk
“A Filing System That’s Up In The Air” Katherine Tarbox, N.A.R. REALTOR® Magazine
11 Affiliate Corner
“Ten Important Steps in Finding, Hiring and Working with a Contractor”
John LaRocca, LaRocca Inspection Company
04.12
{ Arcadia REALTOR® | April | Two Thousand and Twelve | Volume Sixteen | Number Four}
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April 2012
Ryan Asao {President} Andy Bencosme {President-Elect} Mike Vachani {Vice-President} Jill Nelson {Secretary/Treasurer}
2012 ASSOCIATION DIRECTORS Margaret Garemore Jeanne Keating John Lee Paulina Lee George Monte Joseph Pacilio Sylvia Ramos Irene Yamagata Nick Zigic
2012 C.A.R. DIRECTORS
Ryan Asao Andy Bencosme Jeanne Keating Paulina Lee George Monte Richard Stone Randall Traw Mike Vachani Kelvin Wong Nick Zigic
ARCADIA ASSOCIATION STAFF
We are here to help you with your needs! Office Phone 626.446.2115 Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Stephanie Maertens Ext. 303 Director of Education, Publications & MLS Caravan Stephanie@TheAAR.com Maria Roberts Ext. 305 Director of Membership & Professional Standards Maria@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com Andrew Cooper Ext. 308 Executive Vice President Andrew@TheAAR.com
ON THE COVER 8 Biz N.E.T. 2012 Save the date for our upcoming Expo at the Santa Anita Racetrack. 11
Ten Important Steps in Finding, Hiring and Working With a Contractor Learn what is important before you hire a contractor. Learn what to do so that you and your future contractor are protected in your agreement.
13
Top Tips to Jump-Start Your Career Are you in at a stalemate? Do you feel like things just aren’t moving in the right direction for you and your career? Learn ten important tops to help get things moving again.
EDUCATION COMMITTEE
“Introduction to iPad for Real Estate” The AAR Education Committee recently hosted an “Introduction to iPad for Real Estate” course with Instructor, John Barker. John discussed and displayed various “apps” that members can use that can assist them with their real estate business. There was also great discussion on new “apps” that are coming out in the future that can help business as well. This course sparked much interest and resulted in a packed house! Special thank you to sponsor, Bernardo Sotelo with Foothill Federal Credit Union who provided a continental breakfast for those who attended.
ADDITIONAL CONTENTS 3
Education Committee “Introduction to iPad for Real Estate” A recap of the recent free course offered by the AAR Education Committee.
3
Education Committee “Residential Purchase Agreement & Addendums” A recap of the recent informational course offered by the AAR Education Committee.
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Congratulations Jane! The AAR wishes to congratulate the AAR’s Director of Association Services on her recent marriage.
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AAR New Members The AAR welcomes its newest REALTOR® members.
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Public Relations Committee A look at upcoming events the Committee is involved in that will help get information on the importance of REALTORS® out to our surrounding communities.
9 Young Professionals Network (YPN) Committee “Get Involved, Networking Matters!” A look at what the Committee has up their sleeve this year. 10
Arcadia City Council Candidate Forum A look into the recent forum where all five city council candidates took to the stage to for two open seats on the council.
11
Arcadia Relay For Life: June 23-24
12
Commercial Marketing Mixer A recap of the recent free mixer offered by the AAR Commercial Committee.
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“45-Hour Continuing Education Review & Exams” This great course offers all of your required credits for license renewal all at once!
Instructor, John Barker (L) with Melinda Dilwicius (C) and Bernardo Sotelo (R) with Foothill Federal Credit Union.
The Arcadia Association of REALTORS® Events 4 Charity presents...
Taco Time Bingo
eds Go To All ProceCharities Local
Friday, April 20, 2012 6:00 p.m. Arcadia Community Center 365 Campus Dr. Arcadia, CA 91007
Advance Ticket Purchase Adults: $20 Children (15 and under): $15
Tickets at the Door Adults: $25 Children (15 and under): $20
Ticket Includes: 1 Bingo Card, 2 Taco Plate with Rice and Beans
For Tickets: Visit the AAR or contact: Micah Adams (626) 415-8332 Nikki Felix (626) 233-1144
Arcadia REALTOR® Magazine
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April Events Calendar 4
8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Committee Mtg. 9:30 a.m. - Public Relations Committee Mtg.
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9:30 a.m. - Commercial Committee Mtg. 11:00 a.m. - Commercial Marketing Mixer
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12:00 p.m. - 1:30 p.m. - Toastmasters AAR Closes at 12:00 p.m. for Good Friday
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10:00 a.m. - 4:00 p.m. - CRMLS Training
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11:00 a.m. - Tech Committee Mtg. 1:30 p.m. - CRMLS Operations Mtg.
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8:30 a.m. - MLS Caravan 8:40 a.m. - Affiliate Committee Mtg. 9:30 a.m. - MLS Committee Mtg. 3:30 p.m. - Equal Opportunity / Housing Affordability Committee Mtg.
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12:00 p.m. - Young Professionals Network Mtg.
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10:00 a.m. - CRMLS Association Executive’s Mtg.
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10:00 a.m. - Zipforms Training 2:00 p.m. - Education Committee Mtg.
18
8:30 a.m. - MLS Caravan 1:30 p.m. - Local Government Relations Committee Mtg. 3:00 p.m. - Global Business Alliance Committee Mtg.
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1:30 p.m. - CRMLS Finance Mtg.
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9:00 a.m. - 12:00 p.m. - “Career Compass” Education Class 12:00 p.m. - 1:30 p.m. - Toastmasters 6:00 p.m. - Bingo @ Arcadia Community Center
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BizN.E.T. 2012 @ Santa Anita Racetrack AAR Office Closed
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8:30 a.m. - MLS Caravan 1:00 p.m. - Budget and Finance Committee Mtg.
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9:00 a.m. - 12:00 p.m. - “45-Hours Continuing Education Review and Exam” @ AAR
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8:30 a.m. - AAR Board of Directors Mtg. 5:00 p.m. - 9:00 p.m. - Monrovia Business Showcase on Myrtle Ave.
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10:00 a.m. - 11:30 a.m. - “Time Management” Class @ AAR
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8:30 a.m. - New Member Orientation
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April 2012
FROM THE EVP’S DESK
If there’s one constant in life, besides death and taxes, it’s change. And by change I don’t mean those loose coins in between your car seats. I mean real change as in transformation or modification. Change is happening all around us and it’s happening every day. For recent changes we needn’t look any further than our own industry; Look how fast the now-ubiquitous world of technology has changed the way we do business and communicate with our clients. Look at this magazine and our new website – change is happening all around us.
It’s important for us to embrace the fact that change is essentially good - there are term limits with our politicians for a reason. One of the most corruptive phrases we learned at some point in our lives is, “if it ain’t broke, don’t fix it”. These seven small words are largely responsible for impeding the self-improvement and forward progress for countless numbers of people. If we aren’t constantly trying to improve our own lives, our families lives, our communities, etc., then we will forever be condemning ourselves to eternal life in the present. Remember, if we aren’t moving forward, we’re moving backward. To get ourselves out of a potentially career-ending rut or slump, we need to start by making a change now. But take heart. Beginning a self or career metamorphosis doesn’t have to be radical at first. We can start slowly by doing small, simple, bite-sized changes to ease us into the mindset of change. The emphasis here is on the keyword “mindset” because at the end of the day change starts and ends in our heads. These small changes to start you on the road to change can be as easy as driving a different route to the office, or answering the phone with a different business greeting or even sitting in a different seat at Wednesday’s MLS meeting. Too simplistic? Sure. But these small changes will actually cause you to think while doing them and as we discussed thinking about change is the start. Whatever your first change is, the point is to make at least one small change now to get over the huge hurdle of making a change in the first place. Then build upon that. See the article on page 13 for smart changes to jumpstart your career. Unfortunately, as creatures of habit, we’re naturally predisposed to be reluctant towards change. So were the dinosaurs - and look what happened to them.
Andrew Cooper
Executive Vice-President
Congratulations Jane! The AAR’s Director of Association Services, Jane, was recently joined in marriage to Reverend Tom Shriver of Emmanuel Assembly of God Church in Arcadia. On behalf of the Board of Directors and the entire AAR membership, we wish Jane and her new husband the utmost happiness. Congratulations Jane!
Attorney Comments March 2012
By Dave Freeman, Association Counsel to flip the property to. C. Double escrowing the property, without any deposit actually being put in the first escrow by the perpetrator/middleman/ draw man. Beware! If either escrow falls through for any reason, the perpetrator may just “steal” the deposit actually placed into escrow by the second purchaser, which has been cleverly moved into the Short Sale escrow by the perpetrator. The agents, and each of the parties, as well as the escrow, will then likely be sued by the buyer in the second escrow, who put up the deposit. Further, as this is a violation of the law, the Department of Real Estate, as well as the Department of Corporations (escrow oversight) and the lender may all file actions, both as lawsuits or a license violations. Solution: Be sure all purchase contracts, escrow instructions and other documents are executed in a timely fashion. Make sure they are signed by the actual party, either in your presence, or notarized. Do not open escrows 411 E. Huntington Dr. Suite 101 B, Arcadia CA 91006 without a legitimate Phone: 626-446-2401 Fax: 626-446-2362 check, that does clear the bank Ready for a Stress-Free Closing???? quickly. Escrows should not release Let the Contempo Escrow Team show you how easy it can be!! any deposits to “buyers” without Short Sales Bulk Sales ABC License Transfers proper signatures, Commercial Residential Refinance verified in person Mobile Homes with proper identification, Contempo Escrow’s educated, friendly and proficient team will provide the best escrow services available to you and your clients! Open your next escrow with or by notarized us, and experience the signatures of the Contempo Difference!! proper parties.
1. FLOPPING: There’s a new game in town. Actually, it is just a new name of an old game, done slightly differently. The term “flopping” refers to flipping a Short Sale by means of a Double Escrow. The perpetrator of this scheme becomes the middle man-straw manbuyer in the first escrow and the seller in the second escrow. However, three rules are violated: A. Convincing the lender to do a Short Sale, by showing the lender false price comparisons and valuations to convince the lender to agree to a Short Sale at an exaggeratedly low price. B. Not informing the lender (the lender would not agree to a Short Sale if they knew) that the purchaser in the Short Sale already had a second purchaser lined up
Teresa L. Shaver Certified Sr. Escrow Officer
Amy Choy Escrow Officer
2. DISCRIMINATION – APARTMENT RENTALS AND HOME SALES: Two lawsuits of potentially large damages arose recently in the apartment rental area, but could just as easily have occurred in a sales situation. A. The manager of the apartment was showing a second story apartment to a lady, and while on the balcony the lady commented that she had one or two very small children. The manager/ landlady then stated, “Oh, then this apartment may not be for you”. This one careless statement resulted in the Attorney’s Fair Employment Act being revived, and a lawsuit for discrimination was instituted immediately. B. Similarly, a landlord/ manager was showing a two bedroom apartment to a potential tenant who stated that she had five or six children. A similar statement was made by the landlady, again resulting in the potentially huge discrimination lawsuit. Both of these lawsuits occurred within one or two weeks of each other, and in the same general area. There are “testers” going out to rentals and sales properties, testing for discrimination in renting, leasing or sales. These kind of lawsuits are not settled for $5,000.00, $10,000.00 or event $20,000.00 but for rather large amounts and the attorney fees in defending these lawsuits can be devastating. Insurance may not cover these types of lawsuits, as insurance may argue that the action was intentional, and therefore not covered. Be very careful to avoid any form of discrimination and to inform your other agents and managers, as well as the landlords you represent in proper communication and how to avoid discrimination. 3. INSURANCE – LIABILITY AND UMBRELLA POLICIES: A recent case was just ruled upon by the Appellate Court, giving a horrible result for an apartment owner and a good lesson for the rest of us. The apartment owner had insurance for
(continued on page 12) Arcadia REALTOR® Magazine
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Market
Matters
Market Statistics for the San Gabriel Valley Single Family Homes
City
6
Zip Code
Alhambra
91801
Alhambra Altadena
February 2012
Condominiums
Price % Sales of Chg from Single Family Price Median January Homes SFR ($1,000) 2011
Price Median Condo ($1,000)
Sales Count Condos
9
$415
-24.5%
11
91803
4
$345
-6.8%
n/a
91001
29
$430
-9.6%
1
Arcadia
91006
20
$750
-18.9%
9
Arcadia
91007
14
$888
-5.9%
Azusa
91702
21
$270
Duarte
91010
18
El Monte
91731
El Monte
91732
$325
SFR Only
Price & Chg from Median January Home Price/ 2011 Sq. Ft. -11.7%
$287
n/a
n/a
$333
$1,300
364.3%
$315
$565
-1.9%
$414
6
$393
-8.4%
$407
13.1%
12
$188
14.3%
$187
$365
39.0%
3
$260
3.0%
$245
4
$291
4.7%
n/a
n/a
n/a
$301
15
$255
-0.6%
7
$255
-14.2%
$230
El Monte - South
91733
9
$245
-2.8%
n/a
n/a
n/a
$185
Glendora
91740
12
$326
4.3%
n/a
n/a
n/a
$211
Glendora
91741
9
$475
-6.7%
2
$350
-15.7%
$250
La Ca単ada Flintridge
91011
9
$880
-16.6%
2
$545
23.9%
$474
La Verne
91750
14
$393
-23.9%
2
$312
10.4%
$206
Monrovia
91016
8
$316
-28.3%
9
$400
40.4%
$248
Pasadena
91101
1
$500
n/a
13
$343
48.4%
$152
Pasadena
91103
12
$250
-19.4%
4
$388
-10.9%
$279
Pasadena
91104
9
$390
-10.9%
1
$181
-19.6%
$401
Pasadena
91105
3
$1,250
33.0%
7
$530
-38.0%
$522
Pasadena
91106
10
$1,080
25.7%
9
$312
7.3%
$585
Pasadena
91107
19
$477
-7.4%
6
$331
7.8%
$320
Rosemead
91770
14
$375
-8.5%
1
$288
-2.4%
$243
San Gabriel
91775
5
$602
1.1%
2
$523
29.7%
$292
San Gabriel
91776
5
$442
13.9%
1
$384
-8.6%
$295
San Marino
91108
4
$2,850
86.0%
n/a
n/a
n/a
$699
Sierra Madre
91024
8
$910
14.5%
1
$208
-64.4%
$348
Temple City
91780
10
$498
5.4%
1
$399
22.4%
$339
Source: DQNews.com
April 2012
AAR New Members The Arcadia Association of REALTORS® would like to formally welcome our newest REALTOR® members! AAR new members with Membership Committee Vice Chairman, Cindy Shiao and Committee Chairman, Sylvia Ramos are (in no particular order): Carmen Hall, Golden Rule Resources, LLC.; Bradley DuBois, Distinctive Properties; Justin Chu, Coldwell Banker George; John Hsieh, Coldwell Banker Dynasty Temple City; Nan Wang, Long Dragon Realty; Quyen Lu, Long Dragon Realty; Lisa Trinh, Long Dragon Realty; Noel Palmieri, Century 21 Ludecke Inc.; Hosein Sadeghifard, MGM Realty & Investment; Panjiang Chen, Long Dragon Realty; Matthew Wu, Keller Williams West Foothills; Jim Hung, Paul Shih Realty; Qin Liu, Highland Real Estate; Sahar Andishehjoo, Coldwell Banker George; Min Xu, Highland Real Estate; Fang Sui, IRN Realty; Pillyanna Lam, Homes Realty; Payam Najafabad, Coldwell Banker George; Ying Ho, Highland Real Estate; Lily Ho, IRN Realty; Michelle Hao, Coldwell Banker George; Chu Olivarez, Treeline Realty & Investment; Lillian Ebina, Long Dragon Realty; Man Tsui, Grandmark Realty Inc.; Sally Dominguez, Keller Williams Realty; Chi-Ting Chen, Keystar Realty; Cindy Ho, Highland Real Estate; Eunice Kang, IRN Realty.
(626) 831-8862 www.morrisoninspects.com Arcadia REALTOR® Magazine
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8
April 2012
PUBLIC RELATIONS COMMITTEE By Lina Chen, Committee Co-Chairman I became a REALTOR® in April 2011 and have met many wonderful people and made many valuable connections. I have also gained a lot of valuable experience in the various fields of real estate and have been so thankful for the mentors who have inspired me to lead a path in real estate. Taking this into consideration, I thought, “what better way to give back to the community than become involved in the AAR?” As the 2012 Public Relations Co-Chairman, I am excited to share with you our Committee happenings! On March 31st, our Committee participated in the Arcadia Chamber of Commerce Business Expo held at the Santa Anita Race Track to promote the AAR presence in the community. We will have many exciting events throughout the year, and we hope fellow REALTORS® can help support as well as spread the word to our community. One of our upcoming events is the Monrovia Business Showcase. This biannual event will take place on Friday, April 27th and Friday, October 26th in the 700 block of Myrtle Ave in Monrovia. The AAR will be participating as part of the Friday Night Family Festival from 5:00 p.m. to 9:00 p.m. There will be plenty of delicious food, shopping, and fun activities so be sure to mark your calendar and bring your family and friends to this entertaining event. At the festival, the AAR will have a booth to help the public become more aware with our Association and to educate the community about the benefits of working with REALTORS®. Please come and show your support! Let us know if you are interested in volunteering at the booth. It is a great way to meet more people in the community and be involved. Furthermore, we are encouraging members to join us on the Public Relations Committee. If you know anyone who would be interested, please contact the AAR or come to our monthly Committee meeting on the 1st Wednesday of every month at 9:30 a.m. We would love to have you join us! Together we can make a positive impact in our community!
YOUNG PROFESSIONALS NETWORK (YPN) COMMITTEE “Get Involved, Networking Matters!” By Kelvin Chang, Committee Co-Chairman
Mark Your Calendars everybody, because this year the Arcadia Association of REALTORS® Young Professionals Network is doing things bigger and better than ever! As your current Co-Chairman of the YPN Committee (with Micah Adams), I would personally like to invite you to participate in our future events!: BizN.E.T 2012 “The Magical Marshmallow Challenge” – Tuesday, April 24, 2012 – 2:30 p.m. -4:30 p.m. - FREE Immediately following the “BizN.E.T. 2012” Keynote Speaker, Joel Singer, please come join the Arcadia YPN for some fun and games as we introduce to you the “Magical Marshmallow Challenge!” Free for everyone (including one free beverage), I would like to encourage you to stay and participate for this fun networking event. This is a wonderful opportunity to meet and greet with some of the finest professionals in the industry. Start networking with the Arcadia YPN and get your name recognized –Your future success is depending on it! “Party for a Purpose” – YPN Charity event at the Terra Bella condominiums in Pasadena – May 2012 TBD The Arcadia YPN is very excited and proud to be involved with “Party for a Purpose” – a networking social event dedicated to giving back to our local community. Come check out the new Terra Bella condominiums in Pasadena and mingle with the YPN. Food, drinks, music and an evening full of fun will be provided, more importantly, All proceeds from this event shall be entirely donated to charity. For the first time ever, Arcadia YPN will be hosting this event in conjunction with the Pasadena-Foothill Association and West San Gabriel Valley Association YPN groups, in order to make a bigger, better party for a good cause! (continued on page 12) Arcadia REALTOR® Magazine
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Tech.Talk
A Filing System That’s Up In The Air By Katherine Tarbox, N.A.R. REALTOR® Magazine
For years, technology experts have talked about how “cloud computing” will transform our ability to access files on our computers, tablets, and smartphones. For real estate practitioners on the go, the ability to retrieve documents anywhere seems like a professional game-changer. But where is this cloud and how can you access it? “The cloud is complex because its true implications for business have not been presented,” says Mark Lesswing, chief technology officer and senior vice president for the National Association of REALTORS®. Apple’s iCloud system debuted in the fall of 2011. Observers say it can bring the same ease of use to document storage that iPods brought to the music world. And its features expand on other existing cloud services like Dropbox that can host documents and images. Here we explain the key features of the cloud and its advantages for real estate practitioners. What is the Cloud? Essentially the cloud is an online storage system where, instead of saving your documents, pictures, and even your music files to your desktop or iPad, you store them online. Cloud applications are also available on social networking sites such as Facebook, which allows you to upload your photos and save them on Web-based servers that make them accessible to friends and other users. iTunes now comes with a cloud component that automatically saves your purchases online, which means you don’t have to back up your music files on a hard drive. Google Docs is another example of a cloud service that enables you to save material on a Web-based server and provides an effective way for people to share and edit documents.
How iCloud Can Boost Your Real Estate Game Apple’s iCloud system has several practical applications for real estate professionals: • Share the work on marketing materials. After you take listing photos and upload them to iCloud, someone else in the office can download them immediately to include in a brochure. • Keep your documents current. You can get into trouble if you’re not working on the latest version of a sales contract or other document. iCloud’s Document Sync function allows you to access the right documents from your laptop, iPad, or smartphone. In addition, you can set user permissions to allow other users to access these documents. • Upload listing presentations. Using the AirPlay application, you can save your listing presentations and show them on an iPad or on any television connected to an Apple TV. Another iCloud service protects you in case you lose your iPhone or iPad. Install the free app called ‘Find My iPhone’ on either your tablet or smartphone. Then, if your device is missing, log into your iCloud service from your desktop or laptop, and it provides the location of the lost item. To use iCloud, Mac users must have the latest operating systems, iOS 5 and Mac OS X Lion, on their iPhone, iPad, and computers. The company provides 5 GB of storage free of charge. Larger storage packages start at $20 a year for 15 GB. Don’t have a Mac? The iCloud service is also compatible with Windows Vista and Windows 7 PCs.
Arcadia City Council Candidate Forum
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Five Arcadia City Council candidates recently joined together at a public forum held at the Arcadia Public Library. These five candidates vied for two seats on the cities council. Candidates include: Mayor Gary Kovacic, former mayor John Wuo, retired businessman Sho Tay, former school board member Mary Dougherty and real estate developer Henry Nunez. Our own Andy Bencosme was co-moderator of the forum with the Executive Director of the Arcadia Chamber of Commerce, Scott Hettrick. One of the many hot topics that spurred debate at the forum was the continuing development of “downtown” Arcadia, considering the dissolve of the cities’ redevelopment agency. This was the first time in Arcadia’s history that the election was a mail-in ballot only. Ballots are due April 10th.
April 2012
Arcadia City Council Candidates (L to R): Mary Dougherty, current Mayor Gary Kovacic, Henry Nunez, Sho Tay and John Wuo.
Affiliate Corner
“Ten Important Steps in Finding, Hiring and Working with a Contractor” By John LaRocca, LaRocca Inspection Company
There are many, very good contractors in your area. The trick is finding the best one for you. A good way to start is by asking your friends and relatives who have had first-hand experience with a company. A licensed contractor must be used for any job over $500 and that license number must be disclosed.
contract or change orders are only to be executed in writing and after the amount of the change order is agreed to and signed off by all parties to the contract. Step 7. Per California Law the down payment cannot be more than $1,000 or 10% of the total job cost, whichever is less. Don’t pay in cash and never pay ahead unless it’s to order specialty materials such as cabinets or windows, etc., and in that case, get the receipt for your file.
Step 1. Check out the contractor’s license on www.cslb.ca.gov or call 800.321.CSLB (2752).
Step 8. Submit complete plans to the city and obtain permits before commencing the work.
Step 2. Get a couple of contractors to bid the project and check them out with these same steps.
Step 9. Set up a job file and keep good documentation of the project. Note each day’s progress, or lack thereof. Keep copies of the drawings, specifications, permits, permit “sign-off ” card, material receipts and progress payments.
Step 3. Talk to their references and preview at least one of their recently completed jobs. Ask the owner about their experience dealing with the contractor. Step 4. Have the contractor provide a copy of the workers compensation insurance for employees for your files. Step 5. Write a complete contract expressing all of your expectations. Be sure to include the specific materials and labor to be provided and all other responsibilities of the contractor and the customer. For example, who does the clean up and trash removal and when? Specify what amount of money will be paid at what exact point of completion of the project. It’s crucial to pay the contractor for production, not by date. It’s often workable to pay a portion of the money as the city inspector signs off a portion of the project. Have everyone sign the contract and stick to it, changes can be costly with time and money.
Step 10. Final payment is only made when the city inspector has signed off on the final line of the permit card and you are satisfied that the contractor has met every obligation of the contract. As a contractor myself for 40+ years, I promise that construction always creates noise, dust, commotion, and all sorts of demands on the owner for answers and direction, so be prepared as best you can for some turmoil. The best way to reduce or eliminate the inevitable disruption created by a construction project is by finding a contractor you are comfortable with, extensive planning and following the steps above. For further information on this topic and more contact John at (818) 951-1795 or email him at john@laroccainspections.com.
Step 6. State in the contract that any deviations from the
Arcadia REALTOR® Magazine
11
COMMERCIAL COMMITTEE “New Laws for 2012 / C.A.R. Legal Forms”
The AAR Commercial/Investment Committee recently held its monthly Commercial Marketing Mixer at the AAR building. This month featured an informative session on “New Laws for 2012 / C.A.R. Legal Forms” with Dave Freeman, AAR Legal Counsel. In addition to offering tons of great important information, lunch was also provided by Mary Kay with Advanced Group Property Inspection Co. for those who attended. If you are interested in Commercial real estate and would like to attend our free monthly marketing mixers, they are held at the AAR office on the first Thursday of every month at 11:00 a.m.
Members of the Commercial/Investment Committee with the speaker and sponsor are (L to R): Roy Blume, Committee Vice-Chairman; Suzie Koo; Julie Arballo; Mike Vachani, Committee Chairman; Dave Freeman, Presenter; Tim Johnson and Nick Zigic.
Design Escrow, Inc. Known for the integrity of our intent and quality of our actions, we have the confidence to do what is required, the courage to move the process along to successful completion, and the compassion to listen to needs of all parties involved.
Design Escrow, 128 East Huntington Drive Inc.
Arcadia, CA 91006 20 Years of Doing Business and Providing Great Service!
626.445.6137
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Standing (left (left toright): right): Yolanda Yolanda Vidales, Vidales, Julie Julie Nguyen, Nguyen, Kai Kai Wu, Jackie Jackie Ramos, Liem Liem Ho, Ho, Standing standing (left to to right): Yolanda Vidales, Julie Nguyen, Kai Wu, JackieWu, Ramos, Liem Ramos, Ho, Janet Cerswell, JanetCerswell, Cerswell, Suzie SuzieArchuleta, Archuleta, Luly Luly Goodmand and Jojo Janet Jojo Ong Ong. Suzie Archuleta, Luly Goodman, Jojo Ong Sitting (left to right): Terri TerriFabbri, Fabbri,Alexis AlexisOstensen, Ostensen,Kay KayGass Gassand and Shelly Malicek Sitting sitting(left (leftto to right): right): Terri Fabbri, Alexis Ostensen, Kay Gass, Shelley MalicekShelly Malicek
April 2012
We are members of the:
YOUNG PROFESSIONALS NETWORK (YPN) COMMITTEE “Get Involved, Networking Matters!” (continued from page 9) “Relay For Life” – June 23-June 24, 2012 at Santa Anita Race Track Every year, the AAR YPN has been an active participant with the American Cancer Society’s biggest fundraising event “Relay For Life.” Last year, the AAR raised over $5,400 in donations and we are extremely proud of how we can pull our resources together and making a significant difference in our community. This year, we aim to exceed last year’s total and we really need your help! Make a tax-deductible donation today by either visiting the YPN booth at BizN.E.T. 2012, or drop off a check with Brenda Faltes (Reed) at the Arcadia Association office. Thank you for your contributions! The Arcadia YPN welcomes all REALTOR® and Affiliate members to participate in our Committee. If you are interested in joining the Arcadia YPN committee, I would like to encourage you to come participate in our next meeting on Thursday, April 12th at 12:00 p.m. at the AAR building. Our YPN is a fantastic way to meet and build relations with some of the best professionals in our area, to get more involved within the Arcadia Association, as well as assist us in planning fun events! Last year, we were nominated and very close to being awarded “Best YPN Network of the Year!” Come find out what we are all about. We are also always actively searching for Affiliates to sponsor our events. If you would like to learn more about what our YPN has to offer please send me an email: Kelvin.Chang@coldwellbanker.com. I hope to see you soon, because networking matters!
Attorney Comments
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liability with coverage of $500,000.00 per occurrence for bodily We offer Fivehad Languages & policy for excess coverage, injury. He also an umbrella Full timethat In House Messenger provided there was a place in a primary insurance policy of $1,000,000.00. When a child fell out of the third story window, sustaining major head injuries, the lawsuit was settled Specialize in: for $1,000,000.00 Bulks,the umbrella insurer refused to pay, as the However, Short Sales landlord had failed to raise the underlying insurance policy to $1,000,000.00. Therefore the underlying insurance carrier Commercial paid $500,000.00 toward the settlement and the rest of the Shortpays $1,000,000.00 came out of the landlord’s pocket. Be sure your REO’s how an umbrella policy works, and that clients understand they must have a separate commercial umbrella policy for their Exchanges investments, separate from any personal umbrella policy that Residential they may have. and Loans
Top Tips to Jump-Start Your Career Source: C.A.R. Newsline
It’s no secret: You’re dealing with a challenging market. Your personal income is taking a hit and “trying harder” might not be getting you the results you need. How can you take control and start earning more money? This might be the time to consider hiring a coach. 1. Not just for football anymore. Many of today’s top producing real estate agents understand the benefits of having a personal coach to help them reach higher levels of productivity, so what are they learning that can benefit your career? 2. Try a new approach. Nothing beats the advice of an experienced mentor, whether you’re trying to make your first sale or you’re a seasoned veteran of the industry. Successful agents understand that the market is going to bring changes, and they’ll need to adapt and try new approaches throughout their real estate careers. 3. Be your own corporate giant. Most if not all successful corporations utilize consultants on an ongoing basis and are willing to spend money to make money. They recognize the value of working with experts to become more successful and competitive in today’s marketplace. 4. Design a game plan. A coach can help you create a concrete plan for reaching higher goals. In many ways, a coach is like a personal trainer at the gym; you might know what you should be doing to get fit, but need a little help getting there. 5. Keep your eye on the prize. A coach can provide the extra incentive you need to reach your goals. They’ll guide you in strategizing growth and setting specific objectives, help track your progress, keep you focused, and encourage you throughout the process. And when someone is holding you accountable along the way, you might be surprised at how much more productive you become in accomplishing your goals. 6. See the big picture. It’s often difficult to step back and see our own shortcomings. A coach you trust should be able to offer an objective evaluation of your strengths and weaknesses and help identify specific suggestions to best improve your effectiveness. 7. Get the low-down. A good coach will let you in on the secrets of their own success, offering new sales and marketing techniques based on their own expertise. They’ll help break down any barriers that have impeded your growth, guiding you to become more efficient, produce tangible results, and convert more prospects into sales.
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8. Choose wisely. Selecting the right coach for you is essential. It’s a good idea to find someone with plenty of experience as a REALTOR® and a successful track record in the field. Testimonials from other real estate agents can also go a long way in letting you know what to expect. 9. Try before you buy. If they offer a free coaching session, take advantage of it, there’s no better way to find out if they’ll inspire excellence and bring out the best in you. 10. Smell the roses. Wouldn’t it be nice to work LESS and make MORE money? A good coach can help assess how well you’re managing your time and offer solutions to help you become more efficient in your everyday work life. The techniques you learn should ease the stress of overwork, and open more time in your schedule for relaxation. Equipped with a powerful combination of new sales and marketing techniques and timesaving systems, you’ll find new life in your real estate career with a sharper focus and increased confidence. The money you invest in a coaching system should come back to you many times over and help motivate you to become the top producer you can be. Arcadia REALTOR® Magazine
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Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006
“45-Hour Continuing Education Review & Exams”
45 Hours DRE Credits
THURSDAY, APRIL 26, 2012 Registration Deadline: April 24, 2012 9:00 a.m. to 12:00 p.m. Check-in begins: 8:30 a.m. AAR Building REALTOR® Members: $70 Non-REALTOR® Members: $80 Visit www.TheAAR.com for more details and to register.
Dedicated to Providing High Quality Legal Services ®
• Estate Planning • Trust Administration • Probate • Business Law • Commercial Transactions • Corporation, LLC & Partnership Formations • Business Contracts
Call today for a free consultation
Romy S. Rahmanian, Attorney
(626) 869-8787 37 E. Huntington Drive, Suite A • Arcadia, CA 91006 romy@rahmanianlaw.com • www.RahmanianLaw.com
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