®
J U N E | J U LY 2 0 1 6
INSIDE
Hottest Legislative Issues Tackled in DC
Recruiting Secret the Platinum Rule
Fiduciary Duties always owed to Clients
Strategic Plan for 2017 - 2020
REALTO R S ® A R E V IGI LA NT I N M ONI T ORING & INFLUE NCING IS SUE S IMPACTING REAL ES TATE
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Member Benefit
CONTENTS
Bakersfield REALTOR® Magazine
CODE ETHICS CODE OFOFETHICS
® NAR mandates that REALTORS® be required R E A L T O R ® TtoRcomplete A I REALTOR N I N Code G of Ethics training… for your convenience, Joe Newton, Ombudsman, is facilitating the class throughout the year.
CODE OF ETHICS Training Schedule at the Association Mark your Calendar!
2016 NAR Quadrennial Code of Ethics with Joe Newton Classes will be held the 3rd Wednesday of each month. Additional classes to be scheduled as needed beginning in October. Afternoon sessions will be as needed. June 15 9:00 – 12:00 July 20 9:00 – 12:00 August 17 9:00 – 12:00 September 21 9:00 – 12:00 October 19 9:00 – 12:00 November 16 9:00 – 12:00 December 14 9:00 – 12:00
This is a member benefit no charge to our members
Cost for non-local members: $25 For more information call 661635.2315
ON THE COVER
The Bakersfield Association of REALTORS®’ delegation joined fellow REALTORS® from across the nation to attend meetings and visit with regulators and lawmakers on Capitol Hill.
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PAC CONTRIBUTORS Recognizing our members who have contributed to our REALTOR® Action Fund.
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LOCAL REPRESENTATIVES Meet your Government Officials.
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WILLIE RIVERA speaks on the City of Bakersfield adopting plan for Economic Opportunity Areas.
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YPN IN SACRAMENTO Members participate in Legislative Day for a better understanding of how our RAF is being utilized to help our industry.
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YPN HITS IT OUT OF THE BALLPARK Softball tournament a huge success. See the snapshots of a fun-filled day.
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RELAY FOR LIFE Team Bringing Home the Cure raises a significant amount of funds for Campout Against Cancer and Relay for Life.
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2016 SCHOLARSHIP RECIPIENTS & BIOS Congratulations to all eight of our recipients!
Executive Editor - Linda Jay, CEO Managing Editor - Carol Duran Graphic Designer - Carol Duran Bakersfield Association of REALTORS® 2300 Bahamas Drive, Bakersfield, CA 93309 P. 661-635-2300 F. 661-635-2317 www.bakersfieldrealtor.org www.bakersfieldrealtor.com facebook.com/bakersfieldrealtors twitter.com/bakorealtors
Without RAF dollars to support C.A.R.’s advocacy efforts to protect our business, our industry would be totally lost.
LETTER FROM THE PRESIDENT
Legislative Day in Sacramento
Well, it’s hard to believe that I’m halfway through my Presidency – a year of having the privilege of representing our local Association and serving our members. Spring has been off to a very busy start with the Association Leadership team attending C.A.R. and NAR Legislative meetings at our State and National Capitals. It’s our opportunity to get face-toface with our elected officials to ensure our REALTOR® party issues and concerns take center stage and are fully heard. This is the second year that our YPN (Young Professionals Network) reached out to their colleagues, extending a special invitation for them to join the nearly 2,000 REALTORS® in Sacramento to experience firsthand your REALTOR® Action Fund (RAF) contributions in action. The Association has been very successful in securing grants available through C.A.R. to enable our first-time attendees to participate in this important event, at little to no cost. This year, 32 first-time members were transported by bus to Sacramento for an overnight excursion, which involved a private
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BAKERSFIELD REALTOR® MAGAZINE
legislative reception with our elected officials and other community partner representatives; a Legislative Briefing by our C.A.R. Leadership team, Lobbyists and a personal address from our own Governor Jerry Brown. The Governor spoke about our State’s economy and the importance of private property rights, and how REALTORS® play a major role in protecting those rights. After the Legislative Briefing, we took part in a member march to Capitol Hill for a photo opt to show the unified strength of our organization. A special legislative luncheon gave us a one-on-one opportunity to present our hot issues to our elected officials and seek their input and comments as to how they are being addressed. The members then took a 45-minute tour of the state capitol building, where they visited both the House and Senate to see how things are actually done and how laws are made. We rounded out the day’s activities with a Capitol Reception to meet and greet elected officials representing every area of our State. C.A.R. is very powerful and effective with their advocacy efforts in Sacramento. The REALTOR® party is the secondmost powerful lobbyist in the State. This
is extremely important when it comes to getting things done. When C.A.R. speaks, our legislators listen. There are individuals and groups who are constantly trying to hinder private property rights and create onerous laws that could dramatically harm our industry; whether the banks are trying to make it more difficult for us to do business, or lawyers making it easier to sue for ridiculously frivolous reasons. This year, our issues included parcel tax limits and ADAcompliant websites, to name just a few. In closing, I want to re-emphasize the importance of our ‘true cost of doing business’ contributions. Without RAF dollars to support C.A.R.’s advocacy efforts to protect our business, our industry would be totally lost. I’ve spoken to a lot of our members who went on the trip and asked them what they thought, and I can honestly say that 90% of them said, “I had no idea”. They had no idea the strength of C.A.R. or what C.A.R. did for our business, I hope to see even more of our members there next year! Sincerely, Your President
LETTER FROM THE CEO
Who will lead?
A
re we there yet????? Good grief! I don’t know about you, but I’m on election overload! Here we are just barely past the state and federal election primaries, and we still have five months to go! To top that off, our local Association, as are many others, is also going through our election process, electing our 2017 leadership team. I’m very proud of the professional decorum which our local Association leaders display, always setting a great example. But, in the political arena, we are literally surrounded by those seeking positions of authority; touting with great verbosity (some more than others) their virtues, vision and values, in hopes of winning our support! Is it working????? Maybe not so much… Whether looking to our state and national leaders, or those at our own Association… the question remains… who will lead? An even bigger question is… HOW will they lead? Several years ago I sat in on an event being held at a local high school. I was fully engaged in what the speaker was sharing, when something caught my attention. You know how you can be looking at something, but not really seeing it? For a few moments my eyes became fixed on a series of posters on the wall behind the podium.
The first poster read: Six Pillars of Character, everywhere, all the time. I recalled hearing the local superintendent of schools sharing with great enthusiasm, the rollout of this national education campaign for students, encouraging and promoting the importance of character in an individual. The remaining posters gave the rest of the equation… Trustworthiness…Fairness… Responsibility… Respect… Citizenship… Caring… Pillars of character… pretty admirable qualities, but why everywhere, all the time? Can they really be that important? As incredible as it may seem, the question as to whether “character counts” is an ongoing debate. Tragically, in many cases, it appears that until the debate is over, the significance of displaying such qualities is held in abeyance. This is evidenced by what we see daily in the media and in society, whether in the sphere of the entertainment industry, business industry and most certainly in the political arena. The good news is that for many, the answer to the question is a clear and resounding YES! Character does count… everywhere… all the time… and they live their life exemplifying those distinct qualities in a manner that proves it!
2016 OFFICERS President Bill Redmond Watson Realty ERA President-Elect Midge Jimerson Boydstun Realty Co. Inc. Vice President Derek Sprague Sprague Real Estate Group
My point is simply this… we are all individuals of character and influence. How we develop and use those abilities is a matter of choice! Parent, business professional, community member, elected official, political candidate… ask yourself today… What is my sphere of influence? Am I pursuing the continued development and strengthening of those qualities of character in my own life? What can I do to nurture and encourage those qualities in the young people within my sphere? How will what I’m doing today impact my life tomorrow and the lives of those within my sphere? How we conduct ourselves today ultimately can and will yield results which will not only impact our life, but those whose lives we touch every day, hereafter! That is powerful! Leadership is doing the right thing… it’s a responsibility! When and why did we allow it to become optional? Isn’t is a reasonable expectation to see our leaders and ‘want-tobe’ leaders, doing the right thing and being the example that will truly make a positive difference in our society and nation? Why should or would we settle for less?
2016 DIRECTORS Secretary/Treasurer Athena Collup Miramar International — Mill Rock Immediate Past President Sheri Anthes Coldwell Banker, Preferred — Ming
Chief Executive Officer Linda Jay
Pam Epps Miramar International – Truxtun Brian Tuttle Coldwell Banker Preferred– Coffee Kevin Palla Broker
Wayland Louie RE/MAX Golden Empire
Darlene Tobias Tobias Real Estate
Scott Knoeb Frontier Real Estate Group, Inc. Ashley Weaver Karpe Real Estate Center
BAKERSFIELD REALTOR® MAGAZINE
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REALTORS® TACKLE THE TOUGH ISSUES
Hottest Legislative Topics
Photo: Washington DC
NAR Offices
NAR ISSUES
BY KIM SCHAEFER | GOVERNMENT AFFAIRS DIRECTOR
The Bakersfield Association of REALTORS® Joins Thousands of REALTORS® in Nation’s Capital to Advance Vital Housing and Property Issues On behalf of current and future home and property owners throughout the country, nearly 8,700 REALTORS® traveled to Washington (DC) this past month to advocate important real estate issues during the 2016 REALTOR® Legislative Meetings & Trade Expo. The Bakersfield Association of REALTORS®’ delegation joined fellow REALTORS® from across the nation to attend the meetings and visit with regulators and lawmakers on Capitol Hill to discuss the legislative and regulatory environment and its effect on residential and commercial real estate. Attending REALTORS® and all members of the National Association of REALTORS® focused on several major issues pertaining to the industry during the legislative-focused
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meetings. Of utmost importance was protecting real estate-related tax policies vital to expanding homeownership to more Americans. It is imperative that we connect with our lawmakers to ensure they understand the issues that face the real estate industry, the markets and their constituents – many of whom are home and property owners. Every day, REALTORS® are on the ground fighting for home and property owners in their communities; and, we demonstrated we will do the same here in our nation’s capitol with
our elected officials. Supporting homeowners and property owners through smart legislation is very important for families, communities and the nation’s economy, so we will continue to work with lawmakers to ensure they are protected. While in Washington, members from The Bakersfield Association of REALTORS®’ delegation met with Congressman Kevin McCarthy on Capitol Hill to influence public policy decisions that will directly affect consumers’ ability to own, buy and sell real estate. Specifically, Jeanne Radsick, the Federal Political Coordinator for Congressman McCarthy, asked the Congressmen to preserve current real estate-related tax policies and extend the Mortgage Forgiveness Tax Relief Act, which prevents distressed homeowners from receiving excessive income tax bills on forgiven home loan debts. Other pressing matters included reforming key Federal Housing Administration condo rules and ensuring Fannie Mae and Freddie
Mac mortgage guarantee fees are not extended, increased or diverted away for unrelated government spending. Congress is considering legislation that will have a very real impact on the industry, market, and buyers & sellers, so it is important our elected officials hear from us. Through the voice and strength of the REALTOR® Party, we made it clear where we stand on key issues that affect home and property buyers, sellers and investors right here in Bakersfield. During the week-long conference, REALTORS® heard from industry and political leaders, including US Department of Housing and Urban Development Secretary, Julian Castro, who discussed student loan debt and its impact on homeownership. Castro shared some of the regulatory changes coming soon to make sure young Americans have housing opportunities, since many of them are bogged down by loans they borrowed to earn a college degree. Those changes, which pertain to condo rules, could broaden the number of condos available to FHA homebuyers. REALTORS® also had the opportunity to speak with several regulatory agencies, including the Environmental Protection Agency, the Federal Housing Finance Agency, the Department of Agriculture’s Rural Housing Service, the Department of Transportation’s Federal Aviation Administration, and the Department of Veterans Affairs, among others.
FEDERAL PRIORITIES Insurance Issues
Issue Background: Federal law requires that property owners with federally-related mortgages buy and maintain a minimum amount of flood insurance coverage for
that meets state law. • Ensure that consumers can move freely between the NFIP and private coverage without penalty. • Preserve the NFIP as a viable choice, keeping homeowners from becoming stranded should private insurance options contract or become more expensive after major floods. • Maintain important consumer disclosures, as well as Fannie Mae / Freddie Mac’s ability to examine the financial solvency of private insurers and protect taxpayers. Congressional Action Needed: Senate consideration and passage of H.R. 2901, the “Flood Insurance Market Parity and Modernization Act.” Sponsored by Reps. Dennis Ross (R-FL) and Patrick Murphy (D-FL).
Don’t Raise the Cost of Homeownership
PHOTO COURTESY OF JEANNE RADSICK
properties located in Special Flood Hazard Areas. Currently, property owners may not satisfy this “continuous coverage” requirement with some private market alternatives to the National Flood Insurance Program (NFIP). If policyholders leave the NFIP for one of these market options, they could jeopardize their grandfathered status and face substantial rate increases should they later return to the NFIP. H.R. 2901 would: • Clarify that property owners may satisfy the mandatory purchase requirement with either an NFIP policy or private market coverage
Issue Background: G-fees are charged to lenders by Fannie Mae and Freddie Mac for bundling, selling, and guaranteeing the payment of principal and interest on their Mortgage-Backed Securities (MBS). These fees are passed on to consumers, typically in the form of higher mortgage rates. Most of the guarantee fee covers projected credit losses from borrower defaults over the life of the loans, administrative costs, and a return on capital. • Senators Crapo (R-ID) and Warner (D-VA) have introduced companion legislation, S. 752. This legislation would establish a scorekeeping rule to ensure that increases in G-fees shall not be used to offset provisions that increase the deficit. • On December 4, 2015, President Obama signed into law a transportation reauthorization bill which removed a provision passed by the U.S. Senate to extend an increase in the average G-fee that was enacted in 2011. • Any extension of the G-fee increase will maintain the higher cost of a mortgage credit and continue to cause homebuyers to reconsider or delay a potential home purchase or refinance. • The market has stabilized, but sales volumes remain sluggish by historical standards, weighing on an important engine for the economy. A punitive fee that does not support the safety and soundness of the housing finance sector will likely hinder improvement. LEGISLATIVE, Continued on page 12 BAKERSFIELD REALTOR® MAGAZINE
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RECOGNIZING OUR
2016 PAC CONTRIBUTORS NAR GOLDEN R PRESIDENT CIRCLE LIFETIME INVESTOR
$10,000 - $15,000
Jeanne Radsick
CONTRIBUTORS
of $148 True Cost of Doing Business Ablin, Robin Ablin, Todd Albiar, Anna A. Allison, Kelly C. Angelini, Alicia M. Antt, Jim Jr. Apsit-Incardone, Barbara Arucan, Lucrecia C. Ayon, Tony Baldwin-Hartwig, Vanessa Barnhard, Kristi L. Belezzuoli, Robbyn C. GR Belter, Gary Bender, Terri Bhuee, Amarjit Blanza, Susan C. Blomberg, Jamie Boone, Nikolas Boyer, Kay Bradford, Jonnie Bradford, Rickey N. Bravo, Sonia Breeding, Kathy Brinsfield, Shanti Brock, Joel R. Brooks, Juanita S. Brubaker, Patricia Buchanan, Martin A. Bunting, Spring M. Burke, Shay Brandon Burnette, Sara S. Busby, Jon M. Cameron, Jenny L. Canady, Rhonda K. Capilla, Belinda C. Carruesco, Gary B. Carter, Noel T. Caywood, Desiree Chaffin, Lezlie
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Chicas, William A. Clark, Cecilia Clasen, Richard Collins, Terri Meyer Collom, Saron M. Collup, Athena M. Cook, Daniel B. Jr. Cruz, Salvador Dewar, Rosina Jeppi Durazo, Felice P. Enge, Ann Epps, Pamela D. Etcheverry, Jane W. Etcheverry, Laura L. Etcheverry, Sarah K. Farr, Karen Feltus, Evelyn L. Fillmore, Nance Fleming, Lydia E. Flores, Mary J. Foley, Tammy J. Ford, Susan Diane Ford, Thomas L. Garone, John Garone, John J. Gay, David Ghuman, Jessie Gilani, Zachary H. Gonzalez, Monica Goodspeed, Fred Green, Jonathan Gregory, Maria M. Grewal, Gurdish S. Guzman, Richard C. Hansen, Thomas D. Harandi, Suzanne L. Harrison, Stacy Harvey, Michelle K. Helm, Carol A. Hernandez, Leo Hernandez, Miguel A. Hernandez-Abbas, Iliana Holcombe, Alyson Holland, Greg L.
BAKERSFIELD REALTORÂŽ MAGAZINE
CAR GOLDEN R
SILVER BEAR
Chartered
Sheri Anthes David Knoeb Theresa Olson Bill Redmond Derek Sprague
Jeanne Radsick Gail Malouf Linda Jay
Houchin, John Howell, Nicholas J. Hubbard, Rodney J. Hubl, Gary L. Hudson, Kelly D. Hughes, Derek S. Hughes, Heather E. Jellison, Linda A. Jennings, Royce Jimenez Morales, Jaime Jimenez, Elizabeth Jimerson, Midge Jobah, Salah Johnson, Martha L. Johnson, Victoria L. Juarez, Cesar Jr Juracek, Louise C. Knoeb, Joanna Knoeb, Misty N. Knoeb, Scott D. Koons, Maureen J. Kornbau, Garry Kotsiomitis, Kathy Lahn, Yan Lamb, Linda T. Lang, Madonna M. Lawson, Danielle D. Lee, Helen Lei, Troy T. Lopez, Phyllis Louie, Wayland Luna, Morena E. Mackessy, John P. Malkin, Robert L. Maran, Monalisa Marchand, Tammi Marshall, Olivia J. Mayorga, Martin McCarty, Laurice F. McClurg, Pam McCombs, Diana L. McEwen, James A. Meert, Macy Megazzi, Nicholas E.
Mell, William Mellon, Ian A. Merlo, Sara A. Miller, Judy Montero, Claudia Murphy, Shelley E. Na, Lee Eng Near, Sara A. Neiss, Jason L. Nemetz, Valeska J. Newport, Ronda Newport, Walt Newton, Joe Nolff, Brian K. Okoh, Kab Ortiz, Gloria L. Ortiz, Mary J. Overstreet, Michelle Packer, Marilyn Padilla, Carlos Pandura, Maria Patterson, Jamie D. Pena Solano, Ana Peralta, Peter Perez, Freddy Peters, Sanglim L. Porter, JP Price, Jesse Prieto, Ralph Roberson, Brandon Gene Roberson, Debra A. Romero-Trujillo, Brenda Rudnick, Oscar Ryder, Judy L. Saba, Mike Salas, Mario Schaefer, Kim Schueler, Jeri Schutzner, Mark J. Segrest, Sandy Sewell, Nancy A. Shanyfelt, Dan T. Simon, Frank Singh, Harpreet
Sparks, Darrell Sparks, DeeDee L. St. Clair, Frank Strizak, Brigitte Strong, David Tamarra, Luz O. Teagarden, Thomas Templeton, Jill Thompson, Mel Tillman, Hiedie V. Tobias, Darlene L. Toews, Dutch Trahan, Christian M. Trahan, Shelly A. Trone, Sherri E. Tuttle, Brian N. Vargas, Pablo R. Vazquez, Victor J. Walters, Leslie R. Ward, Teri L. Wells, Dan Wilkerson, Sammy W. Woodbury, William F. Woods, Jennifer E. Zulfa, Pam L.
CONTRIBUTORS
Less Than The True Cost of Doing Business Abrams, Sara L. Alsup, Julia L. Anderson, Carolyn Anderson, Rhonda L. Arnette-Voth, Donna Badgley, Lena L. Barnett, Bradley Bernal, Saul GRI Bobadilla, Efrain Brown, Lisa L. Chester, Jessica L. Clemmey, Ginger Cohen, Connie S. Davis, Paris D. Ferrero, Maria G. Flores, Maria I.
Franey, John P. Gill, Perminder K. Gonzalez, Antonio Gonzalez, Lucio Guerrero, Alexandra Guzman, Javier Hart, Barbra Jean Heredia, Carrie M. Hernandez, Anna M. Jeffries, Virginia Krohn, Debby Leon, Maria Lopez, Asucena Lucich, Alexander E. Magat, Josephine U. Marquez, Jacob Medlen, Rosalie Miguez Lazcano, Fernando Mills, Darrel Mora, Samuel Nicholson, Tina Ochoa, Lori Ochoa, Maria Olivas, Carolina Patterson, Julie J. Perry, Garland Peters, Coleen Portillo, Ricky Qassim, Issam Rodriguez, Deborah A. Shah, Lata S. Telese, Becky A. Urner, Susan M. Van Boening, Jaimie N. Vanderhurst, Karen D. Venable, Nancy L. Watts, Amanda L. White, Diane F. Wong, Grant J. Wyatt, J. Rhett
2016 LOCAL GOVERNMENT REPRESENTATIVES
CONGRESS
STATE
Kevin McCarthy
Jean Fuller
Rudy Salas
David Valadao
Shannon Grove
Andy Vidak
House Majority Leader U.S. Congressman 23rd District Phone: 661- 327-3611 D.C.: 202-225-2915 www.kevinmccarthy.house.gov
U.S. Congressman 21st District Phone: 661-864-7736 D.C.: 202-225-4695 www.valadao.house.gov
Senator 16th District Phone: 661-323-0443 Sacramento: 916-651-4016 Email: Senator.Fuller@sen.ca.gov
Assemblywoman 34TH District Phone: 661-395-2995 Sacramento: 916-319-2034 Email: assemblymember.grove@ assembly.ca.gov
COUNTY SUPERVISORS Mick Gleason First District Supervisor Phone: 661-868-3650
David Couch Fourth District Supervisor Phone: 661-868-3680
Zack Scrivner Second District Supervisor Phone: 661-868-3660
Leticia Perez Fifth District Supervisor Phone: 661-868-3690
Mike Maggard Third District Supervisor Phone: 661-868-3670
Assemblyman 30th District Phone: 661-335-0302 Sacramento: 916-319-2032 Email: assemblymember.salas@ assembly.ca.gov
Senator 14th District Phone: 661-395-2620 Sacramento: 916-651-4016 Email: andy.vidak@sen.ca.gov
CITY REPRESENTATIVES Harvey Hall, Mayor Office: 661-326-3770 Willie Rivera Council member, Ward 1 Office: 661-326-3767 Terry Maxwell Council member, Ward 2 Office: 661-326-3767 Ken Weir, Vice Mayor Council member, Ward 3 Office: 661-326-3767
Bob Smith Council member, Ward 4 Office: 661-326-3767 Harold Hanson Councilmember, Ward 5 Office: 661-326-3767 Jacquie Sullivan Councilmember, Ward 6 Office: 661-834-4943 Chris Parlier Councilmember, Ward 7 Office: 661-326-3767 BAKERSFIELD REALTOR® MAGAZINE
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CITY OF BAKERSFIELD ADOPTS
Economic Opportunity Areas Plan WILLIE RIVERA COUNCILMEMBER, WARD 1
A
few weeks ago, the Bakersfield City Council took historic action to adopt an Economic Opportunity Area (EOA) Plan to promote economic growth within specific geographic areas in Bakersfield. The EOA Plan represents years of work by Bakersfield City staff to create and support more tax revenue, promote business growth and generate new jobs in the City of Bakersfield. Since the formal dissolution of Redevelopment Agencies in 2012, the City of Bakersfield has understood the importance of creating new, locallygenerated programs to support economic activity in our City. The recently-adopted Economic Opportunity Area Plan has been created to specifically support economic development by promoting the following: n New Development – Rehabilitation and renovation of buildings, demolition and site preparation, and property acquisition. n Infrastructure Improvements – Upgrades to storm drains, streets and alleys, curbs and gutters, and landscape enhancements. n Aesthetic Standards – Projects that support improved and cohesive design. n Annexation of County Pocket Areas – Projects that facilitate infill. n Financial Incentives – Loans, grants and fee reductions. Made possible by tax increment financing,
the tools outlined above will be critical to supporting growth in specific areas of Bakersfield. From Brundage Lane to Downtown Bakersfield, the EOA Plan will serve as a valuable resource for many.
I would encourage anyone interested in creating or expanding business in the newly-adopted Economic Opportunity Areas to reach out to the Bakersfield Community Development Department. – Willie Rivera
I would encourage anyone interested in creating or expanding business in the newlyadopted Economic Opportunity Areas to reach out to the Bakersfield Community Development Department. This program is intended to help you succeed and we want to work with you. Since being sworn into office, I have been committed to ensuring the City does all it can to stimulate growth in areas like Southeast Bakersfield. The recently-adopted EOA Plan brings us closer to achieving this goal. In Southeast Bakersfield, the Economic Opportunity Area Plan will develop and encourage new business, enable existing business retention and expansion, and provide other economic development opportunities. I applaud the Bakersfield City Council for adopting the Economic Opportunity Area Plan, and thank all City staff involved for their diligence and hard work in the development of this program. This program is yet another example of how the City of Bakersfield is leading the way in implementing innovative programs to strengthen our community. While there is no single solution to creating economic opportunities in all parts of Bakersfield, the Economic Opportunity Area Plan is a monumental step forward in uplifting parts of our community that would otherwise have little to no opportunity for growth. BAKERSFIELD REALTOR® MAGAZINE
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LEGISLATIVE, Continued from page 7
Congressional Action Needed Ensure that qualified borrowers have access to safe and affordable mortgage financing and enact legislation which prohibits guarantee fees (G-fees) from being extended, increased and diverted for unrelated government spending. • Senate: Co-sponsor and support passage of S. 752, introduced by Senators Crapo (R-ID) and Warner (D-VA). • House: Co-sponsor and support passage of H.R. 4893, the “Risk Management and Homeownership Stability Act,” introduced by House Representatives Sanford (R-SC), Sherman (D-CA), and Neugebauer (R-TX).
Real Estate-Related Tax Policies are Vital to the Economy
Issue Background: While tax reform will most likely not be enacted this year, ideas now being discussed by House and Senate tax leaders will be the ones in play when political conditions line up in favor of moving tax reform. Members of Congress need to be reminded now that tax change ideas that harm real estate arc non-starters. Housing Tax Incentives Must Be Preserved • More than 75% of homeowners utilize the mortgage interest deduction at some point over the period they own a home. • Of all those claiming MID, 88% earn less than $200,000; limiting or repealing current housing tax incentives would hurt the housing sector and unfairly harm homeowners, who already pay 80% to 90% of all federal income tax. • For many homeowners, the property taxes deduction is substantial, and one that continues long after a mortgage is paid off. Repealing property tax deductions would unfairly cause double taxation of the same income. • The value of both the mortgage interest and property tax deductions is imbedded into house prices. Eliminating the MID alone would cause on average an 11% drop in home values; decreasing the deduction, even for a limited group, would compress the value of all homes. • Limiting the tax incentives of homeownership would weaken families, society, and undermine the American Dream. Like-Kind Exchanges Must Be Retained • Repealing the like-kind exchange provision would be counterproductive to economic
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BAKERSFIELD REALTOR® MAGAZINE
growth and job creation with little gain in revenue. • Two separate tax reform plans by former tax committee chairmen (Baucus and Camp) proposed the repeal of Section 1031, and the President’s budget again this year advocated a major cutback. Congressional Action Needed Congress is unlikely to pass tax reform in 2016; however, lawmakers and their staffs are already gearing up with plans and ideas for next year when we will have a new president and possibly a shift in control of the Senate and/or House. Now is the time for members of Congress and their staff to be reminded of how vital real estate tax provisions are to the housing market and the US economy. Reform ideas that repeal or weaken tax provisions that encourage home ownership must be rejected. We need tax reform, but it must first do no harm.
Open Access to Condominiums - Often the Most Affordable Homeownership Option and Make Other Needed Housing Reforms Issue Background: Many first-time homebuyers turn to condominiums as a more affordable option for homeownership. Condominiums make up about 9% of the housing stock, but their share of the FHA
portfolio is only 4.1%. Current FHA condo lending rules restrict the number of condos available to FHA homebuyers, thus limiting the often most affordable, appropriate choice for many families. Changes to the processing of rural housing loans will improve access for deserving families, and reforms to federallyassisted housing programs will ease burdens for landlords and improve access for residents. H.R. 3700, “Housing Opportunity Through Modernization Act”, solves a number of concerns regarding FHA’s condo rules: • Reduces the FHA condo owner occupancy ratio to 35%, unless FHA takes alternative action to reduce the ratio below its current level. • Directs FHA to streamline the condo recertification process. Provides more flexibility for mixed-use buildings. • Mirrors the Federal Housing Finance Agency’s (FHFA) rules regarding private transfer fees for FHA condo lending. • Provides permanent authority for direct endorsement for approved lenders to approve Rural Housing Service (RHS) loans. • Makes reforms to federally-assisted housing programs to streamline the programs. Congressional Action Needed Send H.R. 3700, the “Housing Opportunity Through Modernization Act”, to the LEGISLATIVE, Continued on page 16
M
embers of The A Team! Collectively, these individuals form a group of loyal, hard-working Affiliate members who serve the Association in a variety of ways. Over a long period of time, they consistently: n Attend activities and events such as MLS Open Forum, Commercial Investment and more. n Volunteer their time and energy to support the Association’s programs and activities. n Promote Association activities to other members. n Contribute raffle items and door prizes, as well as sponsor various programs and special events. For all their efforts, A Team Members earn these opportunities: n Featured in all issues of Bakersfield REALTOR® Magazine. n Complimentary advertising through The A Team contact list on the Association website. n Complimentary recognition on the Association Reception TV. n First opportunity to sponsor key events with sponsor banner. If you’re interested in becoming a member of The A Team contact Barbara Wells, our Affiliate Chair!
THEATEAM SHERYL GALLION Ticor Title 661.342.7802
sgallion@ticortitle.com
SUZI BEATY
Fidelity National Home Warranty 661.477.3906
suzi.beaty@fnf.com
MICHELE COOPER
San Joaquin Valley Mortgage bwells@sjvalleymortgage.com 661.703.2227
Affiliate Vice Chair San Joaquin Valley Mortgage 661.900.2358 sjvalleymortgage.com mcooper@sjvalleymortgage.com
MIKE GEORGE
Agape Mortgage 661.324.2427
mikegeorge@agapemtgco.com www.agapemtgco.com
JANETTE RAMSEY
Janette Ramsey Insurance 661.328.9250
Over the years we have developed a special partnership with our Affiliates in Action who have given so much to our members!
LISA HOOK-ESTES
The Mortgage House 661.832.4100
lhook-estes@themortgagehouse.com www.themortgagehouse.com
CHEREYL NUNN
Wells Fargo Home Mortgage 661.664.5300
janette@jramseyinsurance.com www.jramseyinsurance.com
chereyl.a.nunn@wellsfargo.com www.wfhm.com/loans/chereyl-nunn
JEFF AGUILERA
CANDICE CRISWELL
cornerstonemortgage.com jeff@csmbakersfield.com
candice.criswell@homestreet.com
Cornerstone Mortgage 661.578.9259
HomeStreet Bank 661.489.6272
You can be a part of The A Team too! Call Barbara Wells at 661.703.2227 for more information
BAKERSFIELD REALTOR® MAGAZINE
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YPN Legislative Day
Snapshots from Sacramento
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YPN Storms Sacramento
PHOTO COURTESY OF ASHLEY WEAVER
ASHLEY WEAVER YPN CHAIR
Only halfway through this year and already the YPN has done so much. Kicking off in January, we educated REALTORS® on prospecting, motivational speaking and then we packed a bus of 32 REALTORS® who drove to Sacramento to see what CAR is all about. The impact on Ashley Weaver, YPN Chair the political spectrum that we have as REALTORS® is mind blowing. As young professionals, we
ADVISORY COMMITTEE Weaver, Chair Karpe Real Estate Center n Scott Knoeb — Vice Chair, Frontier Real Estate Services n Derek Sprague — Sprague Real Estate Group n Aileen Saucedo — Performance REALTORS®, Inc n Carlos Padilla — Watson Realty ERA n Jeff Aguiliera — Cornerstone Mortgage n Frances Alindajao — Miramar International Downtown n Ashley
don’t always see that there is more to our industry than buying and selling. There is also protecting property rights and fighting to keep our industry growing in a way that we, as everyday working REALTORS®, see fit. It was an eye-opening experience that not only gave us a glimpse into a new level of our career, but brought together new friends and good times. As we look forward to the rest of our year, we still have so many exciting events ahead: accountability, time management, business planning, black tie events, and our second annual Christmas appreciation reception, to name just a few. As the YPN chair this year, I would like to announce the opening of a couple of seats on our advisory board, which includes an affiliate position. If you are interested in serving and getting involved, please contact
Boone — Ascend Real Estate n Bill Redmond — 2016 President, Bakersfield Association of REALTORS® Watson Real Estate ERA n Linda Jay, RCE, Chief Executive Officer Bakersfield Association of REALTORS® n Cody Brown, Staff Liaison, Bakersfield Association of REALTORS® n Elissa Valdovinos, Staff Liaison, Bakersfield Association of REALTORS®
me directly. “Leadership is a way of thinking, a way of acting and, most importantly, a way of communicating”- Simon Sinek. I challenge you to get involved, try something new and grow – not only yourself, but your career.
REALTOR® ACTION FUND In 2011, the C.A.R. Young Professionals Network introduced the Million Dollar Pledge, a challenge to have 100 YPN REALTORS® sign a pledge to donate $10,000 to the REALTOR® Action Fund over the course of their careers. Have you made the Million Dollar Pledge? Make the pledge today to protect your industry and livelihood.
n Nik
If you have any questions please contact Cody Brown or Elissa Valdovinos, at (661) 635-2300
MARK YOUR
CALENDAR August: Lunch & Learn with Nik Boone – Time Management / Accountability
September: Lunch & Learn with Joel Sandoval – Taxes
October: YPN Black Tie Gala November: Lunch & Learn – Business Planning December: Christmas Appreciation
LEGISLATIVE, Continued from page 12
President’s desk. H.R. 3700 makes muchneeded reforms to the Federal Housing Administration (FHA) condominium loan program, federally-assisted housing programs, and Rural Housing Service loan programs.
C.A.R. Legislative Day & State Hot Issues
Each year, thousands of REALTORS® meet in Sacramento to advocate on key issues affecting the real estate industry. Again this year, members of the Bakersfield Association of REALTORS® and the Young Professionals Network participated in Legislative Day activities in Sacramento and joined 2,000 REALTORS® for a day filled with networking, and legislative meetings with Assemblywoman Shannon Grove, Assembly member Rudy Salas, and Senator Jean Fuller for discussions on the hottest issues that are important to the real estate industry. Legislative Day is an opportunity for REALTORS® from across California to meet with their state legislators to discuss the issues that greatly affect the real estate industry. Attending Legislative Day is not only a great investment in your business, it also provides you with an opportunity to hear from the state’s most dynamic political leaders and the leadership of your state association, and enjoy a fabulous reception. Here are summaries of the legislation that your Bakersfield Delegation discussed with Legislators:
AB 2693 (Dababneh) – PACE Loan Disclosure.
C.A.R. is SPONSORING AB 2693 (Dababneh) to change the super-priority status of so-called “PACE” loans and to require disclosures to consumers before they obtain such a loan. C.A.R. is sponsoring AB 2693 because PACE loans make financing and refinancing difficult, if not impossible, and consumers are not adequately educated on the consequences of borrowing using PACE loans. Issue Background: Existing law allows a public agency to offer financing, sometimes referred to as a Property Assessed Clean Energy (PACE) loan, for energy efficiency, water conservation and seismic strengthening improvements. Homeowners can agree to a voluntary contractual assessment to pay
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back a loan that funds the improvement. The assessment becomes a part of the tax bill. Because repayment is treated as a tax assessment, any delinquency in the lien associated with the improvement is granted super-priority status. That means it must be paid back before any other mortgage, including first mortgages, or obligation on the property when a property is sold. The Federal Housing Finance Agency (FHFA), the regulator of Fannie Mae and Freddie Mac, has made it clear that properties with these loans attached are not eligible for financing. This makes home purchasing and or refinancing very difficult, if not impossible. Fannie Mae’s and Freddie Mac’s inability to purchase mortgages with PACE-like financing has two serious implications for borrowers: First, a homeowner with a PACE loan cannot refinance their existing mortgage with a Fannie Mae or Freddie Mac mortgage. Second, anyone wanting to buy a home that already has a PACE loan cannot use a Fannie Mae or Freddie Mac loan for the purchase. These consequences are substantial and may preclude a homeowner from completing the transaction. Ultimately, homeowners needing to refinance or sell their property will be forced to pay off the entire PACE loan balance. PACE financing reduces the marketability of houses with such financing. Purchasers are reluctant to enter transactions where PACE loans exist. Why C.A.R. is SPONSORING AB 2693 Homeowners can’t refinance. Because PACE loans must be paid back before any other loan on the property, homeowners are forced to pay back the PACE loan before they can refinance their mortgage, creating a costly burden and preventing most from taking advantage of lower interest rates that they might receive if they are able to refinance their mortgage. Homeowners can’t sell without writing a check. If the cost of repaying the PACE loan and any mortgages on the property exceed the purchase price of the home, the seller will be forced to make up the difference. This will prevent some homeowners from selling when they need or want to sell. Buyers receive less favorable loan terms. Even if a buyer is willing to take responsibility for continuing to pay the outstanding PACE loan, they won’t be eligible for a typical Fannie Mae or Freddie Mac loan and will be forced to acquire more expensive financing.
There are no adequate disclosures. Current disclosures given to homebuyers do not explain the potential consequences of using PACE loans. Homeowners are often surprised to find that refinancing and selling the property has become more difficult or even impossible. AB 2693 will require Truth in Lending-type disclosures to borrowers.
SB 1053 (Leno) – Section 8 Housing Mandates
C.A.R. is OPPOSING SB 1053 (Leno) that will expand protected classes under the Fair Employment and Housing Act to include those who receive government rental subsidies. C.A.R. is opposing SB 1053 because it forces residential rental property owners to involuntarily participate in the federal and local government’s voluntary Section 8 housing program. Issue Background: Under current law, participation by a rental property owner in the Department of Housing and Urban Development’s Housing Choice Voucher program, more widely known as Section 8, is VOLUNTARY. Before a property owner can accept these vouchers as payment on a rental unit, the owner must find and approve the tenant, apply to the local Housing Authority and supply the Housing Authority with ownership, banking and tax records, be prepared to have the unit and property inspected by the Housing Authority, and have the rent being charged approved. Under SB 1053, EVERY residential rental property owner will be forced into a contract with the local housing authority requiring they accept tenants who use Section 8 housing vouchers to pay a portion of their rent. Because housing authorities already lack the resources to quickly process applications and inspect properties, units may sit unoccupied for many weeks until all of the administrative requirements are met. Property owners will not be able to recoup that lost income. Why C.A.R. is Opposing 1053 SB 1053 FORCES property owner participation in a VOLUNTARY program. Section 8 was always intended to be a voluntary program. By forcing property owners to accept tenants with housing vouchers or other subsidies, SB 1053 forces landlords to participate in Section 8 without regard to the property owner’s specific LEGISLATIVE, Continued to page 22
Recruiting Secret – the Platinum Rule LARRY KENDALL CHAIRMAN OF THE GROUP, INC. AND AUTHOR OF NINJA SELLING
Treat others the way they want to be treated. Top sales people come in all shapes, sizes, and personalities. A one size fits all recruiting strategy is doomed. For many managers, their strategy is to recruit the way they want to be recruited. In essence, they are practicing the Golden Rule: treat others the way you want to be treated. We find the most successful recruiting managers practice the Platinum Rule: treat others the way they want to be treated. You can discover a recruit’s personality, motivation, and decision strategy by asking questions and observing his or her behavior and body language. Notice whether he seems to be outgoing or more reserved. Is she more people (relationship) oriented or task (bottom line) oriented? These two dynamics form the four basic personality types as shown below.
Power People Power People are task (goal) driven. They want to know if you have a system to help them achieve their goals. They like staff support and systems. They are bottom-line, results-oriented sales people. They are focused on their future
We find the most successful recruiting managers practice the Platinum Rule: treat others the way they want to be treated. and impatient to get there. They do not like a long, drawn-out, multi-interview process. When they are ready to go, you better be ready to hire them.
Party People Party People are all about the relationship. Do they like you? Do they have friends in your company? Their key driver is fun. Will your company be a fun place to work? They often comment that their old company is no fun anymore. Meet with them at a bar, restaurant, or golf course. Have fun with them. Perhaps bring along their friends who work in your office. Focus on your culture, people, parties and activities. Party people are not detail oriented and will appreciate your staff systems, so focus on your support for them. They love attention. They are impulsive. If it feels right, they do it.
Peace People Peace People are risk avoiders who don’t like change. As a result, they are the most difficult to recruit. In your office, they are also
your most loyal team members. They want everyone to get along and are a stabilizing influence as they work hard to keep the peace. They want stability and a manager/ owner they can trust. They are very slow decision makers and move away from their existing company rather than moving toward a new company. They leave their current company because of instability or their loss of trust. Be their choice (stability and trust) when they are ready to move.
Perfection People Perfection People are seeking the perfect company. The space where you interview them needs to be neat and perfect. Any printed material needs to be perfect. Your emails with them needs to be perfect. They will ask a lot of questions about your numbers and systems. They are slow decision makers and may build a spreadsheet comparing various companies. They love data and want to be the source of real estate knowledge for their clients. If you can help them do this, they will want to join you. As you can see, one strategy does not fit all the personality types. Practice the Platinum Rule, and you will experience greater success in your recruiting and managing of your team members. This article reprinted with the permission of RealTrends Inc. Copyright 2016 BAKERSFIELD REALTOR® MAGAZINE
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YPN hits it out of the ballpark Congratulations Miramar International, our 2016 YPN Softball Champions
MENT OURNA ALL T OFTB ER S MB ME
Miramar International, 2016 YPN Softball Champions
A BIG THANK YOU TO ALL OF OUR YPN SOFTBALL SPONSORS AND TEAMS! Sponsors: Solar City, San Joaquin Valley Mortgage, iMortgage Donations: Imbibe Wine & Spirits Merchant & Women’s Council of REALTORS® (WCR) TEAMS: Miramar International - Champions, Keller Williams Realty, Kern Schools Federal Credit Union, iMortgage, Chicago Title, Wells Fargo Home Mortgage, Coldwell Banker Preferred, Performance REALTORS®, RE/MAX Golden Empire, Watson Realty ERA
Congratulations to our Squatter Winners, Watson Realty, ERA
Great job YPN’ers for putting on a successful tournament!
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ELECTION OF 2017 MEET THE CANDIDATES
DEREK SPRAGUE 2017 President Elect
ATHENA COLLUP 2017 Vice President
RONDA NEWPORT
2017 Secretary/Treasurer
ELECTION OF OUR 2017 DIRECTORS
Candidates below are vying for Director’s Seats, 2017 - 2019
WILLIAM CHICAS
ANNA ALBIAR
VOTE
2 017 PR E SI D E NT A ND D I R E C T O RS
President and Directors who have already been voted in and will continue to serve.
2016 BAKERSFIELD ASSOCIATION OF REALTORS®
TASK FORCE/COMMITTEES
Get Involved…Together we can make a difference in our Community. Join any one of our committees; or, if you don’t have much time on your hands, we’ve set up many task forces just for you. Take part today and find a committee that’s a perfect fit for you. You can download the application at
MIDGE JIMERSON
BILL REDMOND
BRIAN TUTTLE
2017 President
Immediate Past President
2015 - 2017 Director
KEVIN PALLA
WAYLAND LOUIE
DARLENE TOBIAS
files.bakersfieldrealtor.org/images/JoinCommittee.pdf
Call 635-2315 now!
2015 - 2017 Director
2015 - 2017 Director
2016 - 2018 Director
VOTE LET YOUR VOICE BE HEARD
SCOTT KNOEB
2016 - 2018 Director
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ASHLEY WEAVER 2016 - 2018 Director
SUCCESS
Welcome, New Members!
Your journey as a REALTOR® has just begun in making a positive impact in the lives of families in our community
new realtors ®
APRIL 2016
Sanjeev Advani, Hero Real Estate; Rebekah Banta, Miramar International, Marketplace; Gregory Carlson, Miramar International, Panama; Jason Cater, Robert Austin Smith, Broker; Tyler Criner, Coldwell Banker Preferred, Ming; Sonia del Carmen Fuentes, McKinzie Nielsen Real Estate; James Dennis, Miramar International; Evgeniya Flippova, Keller Williams Realty; Rosie Garza, Brian Hicks Real Estate Group; Ajay Goswami, Dream Home Real Estate & Home; Epitacio Guillen, Miramar International; Angela Hernandez, Fortune Real Estate; Jessica Hudson, Bakersfield Property Solutions; Steven Jeffries, Keller Williams Realty; Tamara Jones, Keller Williams Realty; Steven Jordan, Real Estate eBroker Inc.; Nicole Malfitano, Coldwell Banker Preferred, CO; Manuel Marquez, Liberty Realty Masters; Inez Marshall, Watson Realty ERA; Marlene Mendoza Torres, Bahena Real Estate Group; Moriah Neville, Tholco Real Estate Group, Inc; Travis Nighbert, Advanced Realty Management, Inc; Michael O’Neill, Miramar International; Aurea Reynolds, Watson Realty ERA; Jessica Salmeron, Century 21 Vision Realty; Vricia Sanchez, Stratton Davis Realty; Monique Santa Cruz, Santa Cruz Realty;Timothy Tan, Miramar International, Downtown; Olga Winter, Estates Realty new realtors ®
MAY 2016
David Blair, Coldwell Banker Preferred, CO; Kelsey Bumgarner, Keller Williams Realty; Viviana Cardenas, JZ Realty; Richard Christensen, Real Estate eBroker Inc.; Carissa Coley, Miramar International; Ryan Dobbs, 661 Realty; Brynn Freeman, Coldwell Banker Preferred, Co; Cindi Hoover, Keller Williams Realty; Umit Ister, Tholco Real Estate Group; Margarita Leon, Truth Realty; Salvador Lopez-Willingham, New Concept Realty, Inc; Sandra Mathews, eHomes of Bakersfield; Seth McConnell, Coldwell Banker Preferred-Ming; Amanda Mills, Premier Realty; Christopher Montoya, Mike Birky- Broker; Troy Morris Jr, Coldwell Banker Preferred, CO; Giovanni Perez, RE/MAX Golden Empire; Jose Ramirez, Legacy Realty; Jeffrey Rios, Magic Real Estate; Jose Rochas, Real Estate eBroker Inc.; Tosha Ross, Kelly Real Estate; Linda Sheldon, Premier Realty Associates; Stefan Strelich, Coldwell Banker Preferred, Ming; Kristin Visser, Coldwell Banker Preferred-CO; Jason Williams, Keller Williams Realty; Danika Youngblood, Chaddick Williams Realty; Kristen Self, The Lacava Real Estate Group BAKERSFIELD REALTOR® MAGAZINE
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LEGISLATIVE, Continued from page 16
circumstances. It forces landlords to endure administrative burdens and increased costs. Because housing authorities are understaffed, it can take as long as 60 days before all applications are submitted, inspections are made and contracts are signed. During that time, the property sits vacant at a substantial loss to the property owner. Additionally, insuring properties that accept Section 8 vouchers is often costlier than insuring properties that don’t accept Section 8 tenants. Property owners will be forced to absorb those costs. SB 1053 requires landlords to accept objectionable and burdensome lease terms. Under HUD rules, housing authorities must use a HUD formula to determine an “acceptable” rental rate. The only recourse for correcting the HUD formula, if it recommends rents below market rate, is to appeal to HUD directly. HUD is the final arbiter of the request and ultimately determines the rental market value of the property. Local housing authorities and HUD often reject applications for reasonable rent increases. SB 1053 unreasonably interferes with private property rights. By including those with government rental subsidies as a protected class, SB 1053 strips property owners of their freedom to contract, or not contract, in connection with property they own.
AB 2760 (Mathis) – Companion Animal Regulation C.A.R. is SPONSORING AB 2760 (Mathis) to statutorily distinguish between a medically necessary companion or support animal and other animals kept as pets. C.A.R. is sponsoring AB 2760 to clarify current law to allow legitimate support animals to share
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rental housing and to allow landlords to avoid unnecessary litigation. Issue Background: “Service animals” are defined under federal law. They include “any dog … that [is] individually trained to do work or perform tasks for the benefit of an individual.” This includes guide dogs and signal dogs. Under federal law, the Americans with Disabilities Act (ADA) requires reasonable accommodation by public entities and accommodations for these “service animals.” The federal act does not apply the same protections for companion animals or emotional support animals. Unlike service animals, companion animals are not individually trained to perform a specific task. Companion animals, and arguably all pets, simply provide comfort to an individual. A pet is any animal kept for pleasure rather than utility. Pets provide companionship, protection, and physical/ emotional benefits to their owners. Because companion animals are not afforded the same protections under the ADA or California State Law, even though they are kept as the result of a mental health professional’s prescription, there is lots of confusion for housing providers.
The vagueness in state law allows individuals without a legitimate need to “game the system” and claim a status for pets that is not deserved. Unfortunately, the backlash against fake service animals may prevent some individuals with legitimate support needs from being able to access housing. In other instances, it may expose landlords to unwarranted litigation when they try to enforce a “no pets” rule. AB 2760 will allow tenants to keep a support animal on the property provided that the tenant has a prescription validating the need for the support animal from a California-licensed mental health professional. They must also comply with all federal, state and local requirements, such as vaccination or sterilization mandates. Why C.A.R. is SPONSORING AB 2760 It will prevent illegitimate claims from cheapening the protections for those with legitimate needs. The current ambiguity in state law may create situations where those with genuine mental health needs cannot keep their legitimately trained emotional support animal. AB 2760 will make clear that those with a medically documented need may have the accommodation they need to keep their support animal. It will protect other tenants and the property. By distinguishing in state law between a specifically trained animal and other pets, AB 2760 will protect other tenants and property from untrained animals who may cause harm to others and to property. It will keep landlords from facing unnecessary litigation. AB 2760, by making clear the difference between trained emotional support animals and mere pets, will protect landlords from facing litigation when they attempt to enforce a “no pets” rule relative to other non-support and non-service animals.
OMBUDSMAN
FIDUCIARY DUTIES always Owed to Clients contribution by
JOE NEWTON
“The subject of agency and fiduciary relationships between real estate brokers and their principals are among the most difficult concepts for real estate licensees to understand and apply when engaged in real property or real property secured transactions,” so states the Bureau of Real Estate (BRE) in their discussion of this topic in the BRE Reference Book. In our recent Joe Newton Ethics training offered each month at the Association of REALTORS®, we are taking the extra time and opportunity to expand on the fiduciary duties owed by all licensees to their client(s). Those duties include among others: loyalty, confidentiality, reasonable care, disclosure of material facts, trust accounting of anything of value, and the obligation to act fairly and honestly to all parties without fraud or deceit. The Bureau of Real Estate also includes the necessity to “explain and counsel.” “Explaining and counseling” extend to that which has been disclosed or should have been
disclosed, thereby permitting the principal to make an informed and considered decision to buy, sell, lease, exchange, borrow or lend. In almost all complaints (and lawsuits) filed against agents, they are accused by the complainant that there was a violation of fiduciary duty during the transaction. Thus, it is obvious that an agent should understand the very important concept of fiduciary duty. Fiduciary duty is always required of a licensee as an agent to their client(s), and can never be waived nor ignored. There was a case where a dual agent expressed to his clients he did not owe the duty of confidentiality and loyalty to the buyer but only to the seller. If a real estate agent is found to have
2016 OMBUDSMAN REPORT MARCH - APRIL
171 calls were received by our Ombudsman n
59 calls were grievance/ethics complaints against agents that were resolved n
2 grievance/ethics packages mailed out to complaining party n
75 calls requesting information on real estate procedures n
21 calls requesting information on deposits n
n
1 anonymous calls
n
5 cases referred to Association mediation
n
2 Tehachapi calls
n
6 Kern River Lake Isabella calls
n
398 Year-to-date total
violated his/her fiduciary duty to their principal, he/she will, in most situations, lose the case. The positive news about this is that I have witnessed an attorney advise his clients that the case is without merit and other options should be considered. Attorneys are reluctant to take on lawsuits that appear without merit. It is the “merit”, or a situation where the client is dissatisfied, that brings on the conflict. Jean de la Bruyere (Essayist 1645-1696) stated, “Avoid lawsuits beyond all things: they pervert your conscience, impair your health, and dissipate your property”. An agent’s best defense against violating the fiduciary duty owed to clients is to know and adhere to the REALTORS® Code of Ethics. Read the Code often and attend ethics classes as often as you can. Participate in grievance and professional standards committees and read as much from publications of the National and State Associations. Remember to follow the same methods consistently and use thorough procedures with every transaction as your best policy. And finally, if you are one that would like to participate in learning more about the education and training that the Association provides, please let us know of your special interest. BAKERSFIELD REALTOR® MAGAZINE
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NEW
STRATEGIC PLAN 2017 - 2020
The leadership of the The Bakersfield Association of REALTORS® and GEMLS met on February 23, 2016 to review and update the strategic plan. The prior plan was adopted in 2013 and has effectively guided the organization with continued success and growth. The Bakersfield Association of REALTORS® is a model for strategic plan deployment, as oversight officers take responsibility for each core competency and committees are aligned to carry out these strategies. Discussions this year focused less on “change” and more on “enhancement.”
n Purpose
– Statement of purpose for the Association. n Vision – The long-term outcome of how the Association should be perceived. n Values – Guiding principles for the leadership and staff. n Goals – The core competencies of the Association to which sufficient resources will be allocated. n Strategies – Approaches and programs to advance the goals. n Tactics – Performance measures, assignments and deadlines to get the work done. (These are most likely identified and tracked in an annual program of work.)
will govern our work and our relationships with others. n Leadership – A commitment to provide a positive and effective influence within our professional and regional community. n Diversity – A respect for serving members representing all cultures and business models. n Collaboration – A commitment to working with other organizations as a trusted and supportive community partner to benefit our member/ stakeholders. n Innovation – We will continually explore new avenues to provide better service to our members.
Mission, Vision and Value Statements The mission or statement of purpose identifies the organization, who it serves and what it offers. The vision is an aspirational statement. The values are guiding principles of the organization.
Vision Statement
Our Goals and Strategies
Strategic Plan 2017 - 2020
The newly adopted plan spans the period of 2017 to 2020, guiding successive volunteer leaders, committees and professional staff.
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Improving the real estate industry through professionalism and service.
Statement of Purpose
The Bakersfield Association of REALTORS® is the leading advocate for Real Estate, our Members, and the Community we serve.
Tagline
Growing a Stronger Community
Values Statement
– The highest professional and ethical standards n Excellence
Five goals were established as the core competencies of the Association for which resources will be allocated. The five goals set in 2013 were re-affirmed, with new and continued strategies recommended. Three of the goals are primary purposes, while two of the goals are the foundation that supports Advocacy, Education and Service. I. EDUCATE — Standards of Professionalism: Maintaining REALTOR® ethics and standards through education and knowledge.
II. ENGAGE — Member Service and Value: Serving the needs of members by providing programs, products and services that positively impact professional success. III. LEAD — Association Leadership and Operations: Leading a state and nationally acclaimed REALTORS® Association. IV. ADVOCATE — Government Relations and the Voice of Real Estate: Vigilant in monitoring and influencing issues impacting real estate. V. SERVE — Community Service: Positively impacting our community through goodwill and campaigns led by REALTORS®.
Strategies to Advance the Plan
Strategies are programs and priorities to achieve the goals and advance the mission. The strategies suggested are indicated below each goal and the main subject is underlined. I. EDUCATE — Standards of Professionalism: Maintaining the REALTOR® ethics and standards through education and knowledge. A. Increase compliance with the Code of Ethics. B. Enhanced competence and knowledge through education and training. C. Promote the benefits of ethical practice. D. Deliver timely, relevant programs to support professional excellence. E. Enhance educational offerings by investing in strategic speakers. F. Create a Leadership Academy and mentoring model. G. Maintain a centralized on-line resource to promote educational programs. II. ENGAGE — Member Service and Value: Serving the needs of members by providing programs, products and services that positively impact professional success. A. Provide a superior membership experience for all members. B. Maintain productive and responsive relationships within the industry, including brokers, agents and affiliated organizations.
C. Update and expand programs, products and services to meet the demands of an evolving marketplace and provide value. D. Set growth metrics to monitor recruitment, retention and market share; focus on quality over quantity growth initiatives. E. Develop forums and advisory groups to engage the varied interests of members, transforming their discussions into educational content, as applicable. F. Promote available resources and value of C.A.R. and NAR. G. Identify and build relations with allied organizations, i.e., property management, commercial brokers, new constructions, as well as geographic opportunities (for statistical gathering). III. LEAD — [Association Leadership and Operations] – Leading a state and nationally acclaimed REALTORS® Association. A. Maintain efficient programs and best use of resources to serve the members and advance the mission. B. Rely on metrics and performance measures to monitor strategic plan progress. C. Invest in the Association office to maintain a sense of professional pride; explore investing in additional parking and classroom space to accommodate growth. D. Position REALTORS® in volunteer leadership roles who have completed the Leadership Academy and other paths to leadership. E. Invest in the technology necessary to support Association functions. F. Maintain professional staffing sufficient to support Association growth and advancement of the strategic plan. G. Align committees with strategic plan to produce significant results. IV. ADVOCATE — Government Relations and the Voice of Real Estate: Vigilant in monitoring and influencing issues impacting real estate A. Maintain policy platforms that correspond with the strategic plan on issues impacting our industry.
B. Lead coalition efforts with industry partners. C. Support RPAC, “The voice and muscle of the REALTOR®”. D. Increase awareness and grassroots involvement of members. E. Allocate sufficient resources to support an effective government affairs program. F. Enhance involvement as a leader and stakeholder in economic development and local public policy. G. Educate membership to be Ambassadors in the community and to increase the REALTOR® brand awareness. H. Be cognizant of resources from C.A.R. and NAR that can be used to support local advocacy. I. Consider feasibility of developing a task force or coalition of members dedicated to advancing public policy programs, working within approved messaging and channels of communication. J. Include a module on “advocacy and government relations” in the training of future leaders. V. SERVE — Community Service: Positively impact our community through goodwill and campaigns led by REALTORS®. A. Position REALTORS® as a positive force in the community, and a means to engage members. B. Evaluate and strategically coordinate fundraising efforts and philanthropic giving, being sure to allocate overhead costs appropriately. C. Develop a strategic plan for the Bakersfield Association of REALTORS® Foundation that will advance member awareness and raise adequate funds. D. Provide scholarships for students pursuing a course of study in real estate or a related field at college or graduate levels. E. Maintain the integrity and innovation of the MLS. F. Rely on open channels of communications (i.e., suggestion box, social media, etc.). BAKERSFIELD REALTOR® MAGAZINE
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RELAY FOR LIFE Team Bringing Home the Cure makes big contributions to Relay for Life and Campout Against Cancer. All in the fight to save lives!
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C O N G R AT U L AT I O N S
Alessandra Castaneda THE BAKERSFIELD ASSOCIATION OF REALTORS® is an advocate of education for their children and the youth of our community. To encourage and support the educational endeavors of students in Kern County, the Association formed the Scholarship Trust Fund. The following are the 2016 Award Recipients and their career goals:
Alessandra Castaneda
There is only one thing I love more than Chinese food – learning. My plans include college; not just for a career path, but for learning through increased knowledge and new experiences. I am currently enrolled in the summer term at Bakersfield College. I am currently working on obtaining my real estate license before the end of the year. I have enrolled in the Keller Williams program in order to secure a future as a real estate agent. I take great pride in everything that I do and the accomplishment of obtaining a degree will be one of my biggest triumphs. I am a single mother with a beautiful 6-month-old child. My daughter, Athena, is my motivation to acquire a degree in order to secure a better financial future for the two of us. I am striving to overcome all the trials and tribulations of life, and look forward to achieving my goal and becoming the first college graduate in my family. These setbacks are what make the challenges I face worth achieving.
Hannah Cooper
I have always strived to be the best that I could be at anything I do, especially working towards my career aspirations. I have started out my journey by accepting a job at Chicago Title. This past June I worked in customer service and was recently promoted to an escrow assistant. I am very grateful and humble for the opportunities that have already come my way. My career objective is to eventually be a Sales Executive for Chicago Title. One of the ways that I am working towards that goal is
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BAKERSFIELD REALTOR® MAGAZINE
B A K ER SFIEL D ASSO C IATIO N O F R EALTORS ® 2 016
Hannah Cooper
Matthew Dobbs
to gain as much knowledge as I can about all the different aspects of the company. I feel that working in Customer Service has allowed me to experience how to tend to customers and make sure I go above and beyond to fulfill their expectations. Now I have the opportunity as an escrow assistant to learn the escrow side of the business by getting my hands wet and soaking up as much knowledge as I can. My goal is to be a well-rounded, knowledgeable Sales Executive that is able to help my customers in any way they need. I am ecstatic to further my career at Chicago Title and work towards my career goal. I feel that I belong in this industry because I was brought up in it and it has allowed me to make close relationships with many people. I am excited to build those relationships in a more mature, business aspect now that I am getting older and developing my career. My journey towards my career goal has just started and I am exhilarated to see where my hard work takes me.
Matthew Dobbs
Once obtaining my degree from the University of California, Davis, I wish to pursue a law degree in order to become a Real Estate Lawyer, or Property Lawyer. Throughout my time growing up, most of my family have become Real Estate Agents as well as Property Managers, thus driving my desire to continue to work in Real Estate. My father founded 661 Realty (where both of my brothers also work), while my mother, Gayle Young (and late Aunt Glenna Pensinger) works at Pensinger Properties. Further, my father’s uncles, Glenn Dobbs, who works at RE/MAX, and Raymond Dobbs, who works at Dobbs Realty, have both influenced me early on to pursue Real Estate. Although there has been much discussion about me becoming a Real Estate Agent, I believe that I could be a more effective tool for my family if I become an ally to Real Estate Agents. My goal, once I graduate from UC Davis and obtain my law degree, is to come back
Madeline Duran
to Bakersfield and begin my practice. As a double major in Political Science and History, I have been well prepared for the heavy course load that law school requires, as well as the vigor of the lifestyle that comes with being a law student. After obtaining my degree and coming back to Bakersfield, I plan to work closely with the Bakersfield Association of REALTORS® as well as with my family, since I have had exposure to the Association over the last 10 years that my parents have been in Real Estate. I want to pursue Real Estate law because: first, I wish to work in a field close to my family; and second, I have exposure to most of the hardships buyers experience and I want a career that helps people.
Madeline Duran
As a young adult, I’ve learned the value of determination. From the time I was a young girl, I had a drive that I would achieve my goal regardless of what may come my way or how wearisome I may get. This mentality has driven me throughout my educational career and will continue to push me in college. The nursing program is a new goal I have set my eyes on, and with determination, I will persevere and become a well-qualified nurse. I hope to attain my Bachelor’s degree in nursing first and focus on neonatal nursing. Being a part of the volunteer program at San Joaquin Community Hospital has given me a firsthand look at what neonatal nurses do on a day-to-day basis. I have always loved babies, so I believe the NICU will be a good place for me to start out in my career. I plan on becoming a nurse practitioner so that I can help a broad range of people. Being a nurse is not just a career, it symbolizes a passion to help people. I have a desire to become knowledgeable in my field in order to be available to care for those who need help mentally and physically. In my lifetime, I hope to be someone filled with compassion and dedication both inside and outside of my career, which is why I chose nursing as my major. Nurses will always be a fundamental
SC HO L A R S HI P R E C I P I E N T S
Ioannis Exarchoulakos
Colton Nichelson
part of society; therefore, I will also have a stable career with means to provide for my family.
Ioannis Exarchoulakos
I will be attending Bakersfield College in the fall to study Economics, and after two years I hope to transfer to a 4-year university. My main goal is to obtain a degree in Finance and then go to Business school for Economics. Even though I will not be going into the real estate field completely, I still plan to get my real estate license. Ever since I was a kid, I have always helped my parents at our family restaurant. I have also helped my mom when she needed to do an open house or just advertise for her real estate business by going door-to-door in the neighborhood. My mom introduced me to the real estate business from a very young age and as I have grown older I have learned to appreciate it. I have also seen that the market is something that is constantly changing and this has taught me to keep my focus intact. My parents have taught me that you must work in order to succeed. After attaining my degrees, I plan to go and work at a hedge fund or a financial firm. I am still going to continue my education to keep my real estate license because knowledge is power and we never stop learning. After working for other people and learning the ropes of the business, I plan to start my own business.
Colton Nichelson
I am transferring to the University of California, Berkeley during the fall semester of 2016 to pursue a degree in Mechanical Engineering. From there I plan to obtain a Master’s Degree in Business Administration in order to help me pursue my dream of starting a business that uses technology and science to find solutions to problems closely related to industry. In addition to this, I plan to obtain a real estate broker’s license in order to start a business in real
Lexi Ontiveros
estate sales, investment and management. Through various experiences in life, I have developed insatiable interests in real estate, finance, business, energy, technology, robotics, aerospace and the automotive industries. I am passionate, and some might even describe me as obsessive about finding solutions and solving problems. I feel as though my talent for creating, organizing and leading groups is a result of my ambitious nature. This drive pushed me to want more for myself, my family, community and society. Through my ability to organize and lead the Bakersfield College Automotive Club, I have been able to contribute to Bakersfield College’s positive image within the community. My overall goal is to be an individual who leads, innovates and inspires in order to enhance the progression of humanity. I know that starting and leading a successful engineering business or real estate-based initiative requires experience, leadership, hard work and extraordinary innovation.
Lexi Ontiveros
I have wanted to pursue a career in real estate for quite some time. This is because I was basically raised around it, as my dad is an appraiser and broker. Almost all of the men on my dad’s side have some sort of career involving it, and now my brother is going for his real estate license to become an appraiser. However, there has not yet been a woman in my family who has attempted to pursue this kind of career, which makes me even more excited at being the first. Growing up, I have gone with my dad on appraisals and he basically taught me the ins-and-outs of doing them. I have also worked on many family construction building projects, such as helping to build an outdoor kitchen, shed, and second garage. I have also helped with flipping fixer uppers by working with my family and learning things that I never thought I would, such as putting in every kind of flooring imaginable, taking out walls, and totally redoing bathrooms and kitchens .
Brandon Wright My four-year plan is to achieve a degree in marketing because it will give me exposure to a broad range of careers including real estate. As far as the jobs that I am striving for, I would love to become a real estate agent and a property manager. As far as being a property manager, I remember my dad saying that was the one thing that he regretted not doing, which made me want to do it as tribute to him as well as satisfying my own interest. Also, as a side job, I plan to continue flipping fixer uppers with my family. As you can see, having a real estate career is basically my destiny because it has helped to shape who l am and has led me to find what I love to do.
Brandon Wright
I would like to become a real estate agent. I have grown to know a good deal about the real estate environment through my parents. My mother Staci Wright, a real estate agent, works for Miramar under Jeff Jackson. My father Cory Wright is a successful home inspector. Through my parent’s dealings within real estate, I have become determined to become a lucrative agent here in Bakersfield. I will be attending Cal State Bakersfield in the upcoming fall semester, with the goal of obtaining a Bachelor’s degree in Finance or Business Administration, with an emphasis on real estate. I trust that this degree will help to accredit and direct me towards becoming a successful agent. Although my main motivator for becoming a real estate agent is that I believe I can be a great success, it is not the only reason that I am drawn towards real estate. Real estate agents that help people find great homes here in Bakersfield are guiding the people who buy these homes toward better futures. By helping people settle down in homes of their own, real estate agents are driving our community towards heartier and higher quality living. I shall remain steadfast at obtaining my degree and learning all that I can about real estate so I may one day accomplish my goal. BAKERSFIELD REALTOR® MAGAZINE
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STATEOFTHE
HOUSING MARKET
2015 Compared to 2016 by MLS Area
APRIL 2016 APRIL 2016
MARCH 2016 All Areas
All Areas
Bakersfield
Bakersfield
% Year over Year % Year over Year % Year over Year % Year over Year March March 2016 2016 2015 2015over Year April April 2016 2016 2015 2015over Year % Year over Year over Year % Year Change % Year Change Change % Year Change March March 2016 2016 2015 2015 April April 2016 2016 2015 2015 Change Change Change Change Active Active 1,864 1,864 1,536 1,536 21.4% 21.4%Active Active 1,853 1,853 1,617 1,617 14.6% 14.6% Active Active 1,864 1,864 1,536 1,536 21.4% 21.4% Active Active 1,853 1,853 1,617 1,617 14.6% 14.6% Contingent Contingent 269 269 297 297 -9.4% -9.4% Contingent Contingent 277 277 332 332 -16.6% -16.6% Contingent Contingent 269 269 297 297 -9.4% -9.4% Contingent Contingent 277 277 332 332 -16.6% -16.6% Pending Pending 1,098 1,098 1,098 1,098 0.0% 0.0% Pending Pending 1,202 1,202 1,185 1,185 1.4% 1.4% Pending Pending 1,098 1,098 1,098 1,098 0.0% 0.0% Pending Pending 1,202 1,202 1,185 1,185 1.4% 1.4% Sold Sold 639 639 618 618 3.4% 3.4% Sold Sold 612 612 624 624 -1.9% -1.9% Sold Sold 639 639 618 6183.4% 3.4% Sold Sold 612 612 624 624 -1.9% -1.9% Total Volume Closed Total Volume $142,376,854 Closed $142,376,854 $128,724,738 $128,724,738 10.6% 10.6%Total Volume Closed Total Volume $135,721,403 Closed $135,721,403 $137,347,001 $137,347,001 -1.2% -1.2% Total Volume Closed Total Volume $142,376,854 Closed $142,376,854 $128,724,738$128,724,738 10.6% 10.6% Total Volume Closed Total Volume $135,721,403 Closed $135,721,403 $137,347,001$137,347,001 -1.2% -1.2% Median Sales Price Median * Sales $210,000 Price * $210,000 $199,995 $199,995 5.0% 5.0% Median Sales Price Median * Sales $208,750 Price * $208,750 $210,000 $210,000 -0.6% -0.6% Median Sales Price Median * Sales $210,000 Price * $210,000 $199,995 $199,995 5.0% 5.0% Median Sales Price Median * Sales $208,750 Price * $208,750 $210,000 $210,000 -0.6% -0.6% Average DOM *Average DOM * 49 4946 466.5% 6.5% Average DOM *Average DOM * 43 4343 43 0.0% 0.0% Average DOM *Average DOM * 49 4946 466.5% 6.5% Average DOM *Average DOM * 43 4343 430.0% 0.0%
% Year over Year % Year over Year % Year over Year % Year over Year March March 2016 2016 2015 2015over Year April April 2016 2016 2015 2015over Year % Year over Year % Year over Year Change % Year Change Change % Year Change March March 2016 2016 2015 2015 April April 2016 2016 2015 2015 Change Change Change Change Sold Sold 554 554 517 517 7.2% 7.2% Sold Sold 548 548 540 540 1.5% 1.5% Sold Sold 554 554 517 5177.2% 7.2% Sold Sold 548 548 540 5401.5% 1.5% Total Volume Closed Total Volume $126,143,304 Closed $126,143,304 $110,822,824 $110,822,824 13.8% 13.8%Total Volume Closed Total Volume $123,965,722 Closed $123,965,722 $121,151,982 $121,151,982 2.3% 2.3% Total Volume Closed Total Volume $126,143,304 Closed $126,143,304 $110,822,824$110,822,824 13.8% 13.8% Total Volume Closed Total Volume $123,965,722 Closed $123,965,722 $121,151,982$121,151,982 2.3% 2.3% Median Sales Price Median * Sales $220,000 Price * $220,000 $207,500 $207,500 6.0% 6.0% Median Sales Price Median * Sales $215,000 Price * $215,000 $210,000 $210,000 2.4% 2.4% Median Sales Price Median * Sales $220,000 Price * $220,000 $207,500 $207,500 6.0% 6.0% Median Sales Price Median * Sales $215,000 Price * $215,000 $210,000 $210,000 2.4% 2.4% Average DOM *Average DOM * 47 4746 462.2% 2.2% Average DOM *Average DOM * 42 4240 405.0% 5.0% Average DOM *Average DOM * 47 4746 462.2% 2.2% Average DOM *Average DOM * 42 4240 405.0% 5.0% * Figures from Single Family Homes Only. Statistics were run on May 11, 2016. * Single Family *Only Single Family Only Bakersfield uses the following Zip Codes: * Single Family*Only Single Family Only 93301, 93302, 93303, 93304, 93305, 93306, 93307, 93308, 93309, 1st Qtr 2016 1st Qtr 2015 93310, 93311, 93312, 93313 93314. New Listings 3,017 2,861
QUARTERLY COMPARISONS
Contingent Pending Sold Total Volume Closed Median Sales Price * Average DOM * Average Sale Price/SqFt *
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BAKERSFIELD REALTORÂŽ MAGAZINE
631
655
1,985
1,854
1,652
1,510
$366,284,612
$310,182,683
$213,250
$199,000
50
50
132.52
127.40
2016 YEAR-TO-DATE STATS Area
Dollar Value
# Sold
Average Sold Price*
% of List Price*
DOM*
2016
2015
2016
2015
2016
2015
2016
2015
2016
2015
10
84
75
$12,961,660
$11,556,150
$161,149
$160,625
39
43
96.82
96.80
21
51
59
$4,890,464
$5,176,577
$97,145
$90,665
66
60
97.30
96.21
22
71
69
$11,214,516
$11,056,050
$157,951
$161,140
33
54
98.45
98.42
23
7
4
$1,888,000
$1,324,750
$302,083
$331,188
88
40
96.47
92.78
31
77
109
$10,759,140
$13,972,793
$139,857
$128,191
42
50
96.88
98.62
32
185
146
$32,891,965
$23,741,020
$181,975
$169,739
50
42
97.47
97.47
33
53
71
$12,220,271
$15,459,035
$240,265
$225,911
41
55
99.42
98.07
34
32
26
$10,225,770
$7,512,000
$319,555
$305,500
59
86
97.59
96.99
41
44
57
$5,227,600
$6,281,680
$118,809
$110,205
43
40
97.02
97.11
42
40
35
$6,101,700
$5,524,572
$155,992
$162,134
44
43
96.59
98.26
43
2
0
$195,000
$0
$97,500
$0
30
0
97.50
0.00
51
190
175
$27,790,830
$23,373,694
$152,424
$145,827
38
37
98.44
98.24
52
453
440
$90,176,937
$87,661,364
$210,611
$210,905
44
43
98.48
98.34
53
262
215
$84,143,889
$68,303,259
$324,774
$320,138
51
41
97.76
97.67
54
3
4
$984,990
$1,597,216
$328,330
$399,304
47
45
98.81
99.88
61
70
64
$18,050,875
$16,593,289
$257,870
$259,270
53
51
98.52
98.01
62
337
327
$99,586,527
$92,962,750
$295,509
$285,079
48
50
98.09
98.15
63
126
138
$43,494,918
$45,988,638
$345,198
$339,727
50
52
97.18
98.27
64
6
4
$2,316,000
$1,447,929
$431,600
$361,982
61
39
95.12
98.64
80
42
38
$10,420,285
$9,378,932
$256,677
$252,539
50
55
98.31
97.27
81
4
1
$352,000
$250,000
$88,000
$250,000
254
49
89.13
89.61
82
1
14
$111,000
$1,117,621
$111,000
$73,135
167
49
96.61
97.39
83
15
12
$2,101,900
$1,762,925
$145,350
$146,910
52
78
98.40
95.13
84
2
0
$754,900
$0
$595,000
$0
163
0
86.36
0.00
85
3
4
$1,240,000
$941,500
$413,333
$267,500
97
72
94.73
97.99
91
19
17
$2,543,590
$2,109,000
$125,761
$124,059
38
23
94.19
96.14
92
2
0
$510,000
$0
$255,000
$0
42
0
98.27
0.00
93
1
4
$72,000
$450,300
$72,000
$112,575
64
107
96.64
94.07
94
5
13
$831,000
$2,223,001
$181,667
$181,250
48
44
94.87
94.16
95
60
85
$11,532,100
$15,224,640
$192,202
$180,948
54
41
97.26
99.48
96
60
44
$6,674,829
$5,174,320
$108,981
$121,393
57
77
96.09
96.46
98
57
66
$10,766,600
$11,181,095
$188,888
$169,411
49
45
97.23
98.75
99
41
48
$13,447,895
$11,879,127
$355,886
$264,410
46
52
96.65
98.01
* Figures from Single Family Homes Only. Statistics were run on MAY 11, 2016.
BAKERSFIELD REALTOR® MAGAZINE
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COMMUNITY BOYS & GIRLS Club Career Launch a Success contribution by
MARTHA JOHNSON Equal Opportunity Committee Chair This year, the Diversity and Equal Opportunity committees have joined together to collaborate with the Boys & Girls Clubs of Kern County/PG&E Summer Jobs Career Launch Program. Over the last few weeks, many of our committee members have been privileged to assist in the classroom as high school students from all over Kern County and every High School come to learn how to act on the job, dress for success, interview for positions, and get a job. Most of these students come to the program with careers they have in mind, Martha Johnson and some would surprise you: homicide detective, doctors, nurses, coast guard, teachers, and so many others. Out of approximately 300 students, 55 are chosen to have intern jobs for 6 weeks over the summer. They are expected to perform as regular employees of the places they are hired and report back each week. This wonderful program is completely funded by a grant from PG&E and gives opportunity to many students that may not have a chance otherwise. Along with the PG&E Summer Jobs Career Launch Program, the two committees, Diversity & Equal Opportunity, were also able to assist with a live action version of the Game of Life. If you remember the game, students start with a
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BAKERSFIELD REALTOR® MAGAZINE
budget and have to travel around different stations throughout the gym at the Boys & Girls Club calculating for food, housing, entertainment, household expenses and a Mayhem card. You never know what the card will slap you with – it could be a $500 bonus or a $350 ticket for texting and driving. It has been such a great collaboration, and we are looking forward to many more years with the Boys & Girls Club of Kern County. Fun fact: Did you know that the Boys & Girls Club of Kern County is the largest in the nation, serving over 7,500 students weekly at over 62 locations throughout Bakersfield? Well, now you do! contribution by
WILLIAM CHICAS Diversity Committee Chair
My experience at the Boys & Girls Club has been one of the best programs in which I have participated. I want to thank everyone in our Diversity and Equal Opportunity committees, including Martha Johnson, Kaitlin Rudnick, Candice Criswell, AJ William Chicas Bhuee, Cherie Romero, Dina Stengle, Fortino Valdivia, Jenny McLean, Misty Jeffries, Lisa HookEstes, Michele Cooper, Pam Epps, Robin Rossi, Wayland Louie, and Gayle Young, Jeff Aguilera, Bill Redmond and Fortino
Valdivia. This program was a huge success because of all their time and efforts. Through the program, we were able to help the kids at the Club gain confidence and prepare them for the challenges and competitions they may encounter once they enter the business world. All of the youth who participated in the program were very excited. Many of them want an opportunity to gain employment and show that they are responsible individuals. They want to help themselves get ahead in their lives, as well as help out their parents. The program that PG&E has provided for the youth is the best program I’ve seen. It helps them choose a different direction in life. Some of the kids come from very rough neighborhoods, and this program lets them know that there is something better out there, and that they can achieve anything with hard work and determination. I sat down with one of the participants who asked for help in preparing for an upcoming interview. I asked him a few questions and explained each one as he wrote them all down. He mentioned that this process would help him greatly in his interview. He stressed how important it was to get this job because he wanted to help his parents make ends meet and hoped that someday he’ll be able to support his parents. He mentioned how hard they have worked just to have the little they now have, and that he wanted to make a difference at home and in their lives. He lived in a rough neighborhood and wanted to move to a better location for his parents. I was very impressed because most 15- to 16-year-olds have very different dreams. I want to thank the Boys & Girls Club and PG&E for all their hard work and dedication to all these kids.
Diversity & Equal Opportunity Committees join forces to participate in the
BOYS & GIRLS CLUB Career Launch Program
Photo contributions: Martha Johnson & Joy Spicer
Zane Smith (far left), Executive Director of Boys & Girls Club, takes a photo with members from our Equal Opportunity and Diversity BAKERSFIELD REALTOR MAGAZINE committees at the Boys & Girls Club. ®
33
MARKETING STRATEGIES
TURNING YOUR LEADS FUNNEL upside down
T
PAUL SALLEY | MARKETING STRATEGIST
he ability to target a specific audience with a message equips marketers with an effective approach to pinpoint marketing. Many real estate professionals are familiar with a farming technique or lead generation technique that relates to a funnel or pipeline. The idea is to blanket as many people as possible with your advertising message and nurture those that respond into qualified leads. Or, to organize those that respond into categories of readiness and nurture them accordingly. This has been a proven safe, but often slow, classical approach to selling and maintain-ing a pipeline. Strategic, targeted digital marketing makes this classical method look archaic in comparison. Thanks to advancements in marketing technologies, real estate professionals can start the prospecting process in reverse. The ability to target a specific audience with a personalized message equips marketers with an effective and proven approach to pinpoint marketing.
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BAKERSFIELD REALTORÂŽ MAGAZINE
Audiences are classified and defined by demographic and behavioral filters that online platforms provide. A sample of a few of these platforms is Facebook and private display networks that act as a stock exchange for ad space across the Internet. The way Facebook provides targeted audiences is simple, advertisers can simply pull from the detailed profile information Facebook users readily provide when they create and maintain a Facebook Profile. Display networks are able to determine user information based on their geographic location provided by their IP addresses and information gathered from their browsers in regards to what their interests are and other information that has been collected. The power of this information allows marketing to take on a sophistication and proven ROI that has never before been possible. The days of targeting the masses and hoping your message will be relevant to a
portion of the population that will respond to that message are over. Marketing now should be going directly to those who you know will respond to your messaging. This allows real estate professionals the ability to target a specific audience with the appropriate messaging with the advanced knowledge and assurance that the message they are approaching the target with is relevant and will elicit a response. Becoming accustomed to this new way of marketing, real estate professionals are able to turn their sales funnels upside down and start immediately connecting only with those who are proven to have an interest in buying or selling a home. This refined process is more cost effective and drastically reduces the time it traditionally takes to nurture a lead along until they are ready to take action. This article reprinted with the permission of RealTrends Inc. Copyright 2016
BAKERSFIELD ASSOCIATION OF REALTORS®
IMPORTANT DATES
WEDNESDAY
NAR Code of Ethics Training Class
WEDNESDAY
WCR Luncheon: Water & Oil
JUNE 15
JUNE 16 THURSDAY
JUNE 16 FRIDAY
JUNE 17 TUESDAY
JUNE 21
Membership Election Ballots Due
WEDNESDAY
NAR Code of Ethics Training
WEDNESDAY
Membership Annual Meeting
WEDNESDAY
YPN Lunch & Learn
JUNE 24 JUNE 29
R. Gov with Guest Speaker
TUESDAY
Association Office CLOSED
THURSDAY
R. Gov with Guest Speaker
JULY 4
Commercial Investment with Guest Speaker Wool Growers Luncheon
FRIDAY
JULY 14 FRIDAY
JULY 15
Commercial Investment with Guest Speaker
JULY 20
AUGUST 3 THURSDAY
AUGUST 4
MLS Open Forum
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