Colorado REALTOR Magazine May 2020 by Colorado Association of REALTORS

MAY 2020

c o lo r a d o

REALTOR

MAGAZINE

Official Magazine of the Colorado Association of REALTORS®

How COVID-19 is Impacting Real Estate:

From Your CAR Chair: The World is Watching Page 4

What Will Your Business Look Like in the Aftermath? Page 6

April’s Real Estate Pause Not Nearly as Bad as Feared Page 8

Navigating the Real Estate Industry in the Wake of COVID-19 Page 16

Pandemic Will Shift Focus of State Legislature When It Reconvenes This Month Page 23

c o lo r a d o

REALTOR

MAGAZINE

The COLORADO REALTOR® is published by the Colorado Association of REALTORS® 309 Inverness Way South Englewood, CO 80112 (303) 790-7099 or 1-800-944-6550 FAX (303) 790-7299 or 1-800-317-3689

MAY 2020

c o lo r a d o

REALTOR

MAGAZINE

IN THIS ISSUE:

EDITORS: Lisa Dryer-Hansmeier, V.P. of Member Services, Nick Baker Communications & Public Relations Manager nbaker@coloradorealtors.com lhansmeier@coloradorealtors.com DESIGNER: Monica Panczer, Creative Marketing Specialist monica@coloradorealtors.com The Colorado Association of REALTORS® assumes no responsibility for return of unsolicited manu scripts, photographs or art. The acceptance of advertising by the Colorado REALTOR® does not indicate approval or endorsement of the advertiser or his product by the Colorado Association of REALTORS®. The Colorado Association of REALTORS® makes no warranties and assumes no responsibility for the accuracy or completeness of the information contained herein. The opinions expressed in articles are not necessarily the opinions of the Colorado Association of REALTORS®.

The World is Watching.........................................4 What Will Your Business Look Like in the Aftermath?.................................................. 6 Market Trends Report................................. 8 Colorado Real Estate SnapShot...............14 Eight Tips You Can Use Right Now............15 Navigating the Real Estate Industry in the Wake of COVID-19....................................16

LARRY KENDALL SHOWS NO SIGNS OF SLOWING DOWN.

Safer at Home Allows Time for Wildfire Season Preparation..................................18 Pandemic Will Shift Focus of State Legislature When It Reconvenes this Month ..................................................................23 On His Fourth Career, Larry Kendall Shows No Signs of Slowing Down........................24 Changing Market: Are You Prepared to Make a Shift?............................................28

This is a copyrighted issue. Permission to reprint or quote any material from this issue is hereby granted provided the Colorado REALTOR® is given proper credit in all articles or commentaries, and the Colorado Association of REALTORS® is given proper credit with two copies of any reprints.

What's New in Healthcare for Colorado REALTORS®?..............................................31 How to Work Healthier.............................32 CYPN Benefits...........................................34 CAR Foundation Mobilizes to Help Local Communities Throughout Colorado....... 35

The term “REALTOR®” is a national registered trademark for members of the National Association of REALTORS®. The term denotes both business competence and a pledge to observe and abide by a strict Code of Ethics. To reach a CAR director who represents you, call your local association/board.

Recovery from the Housing Recession.....36 Free Tax Webinar......................................37 2020 Census: Realtor® Participation Is Key.. ...................................................................................38 CHANGING MARKET: ARE YOU PREPARED TO MAKE A SHIFT?

How to be a Persuasive Communicator While Working Remotely..........................40 RPAC Major Investor Spotlight.................42 RPAC Major Investors...............................43

THE WORLD IS WATCHING! FROM THE CHAIR

Janene Johnson 2020 Chair of the Colorado Association of REALTORS®

In these last few months, emotions have been all over the spectrum. Ranging from the highs of watching people around the world doing extraordinary things in the face of this pandemic to the lows of seeing loved ones suffering illness and possible loss; we’re experiencing it all. Add to that the anxiety that we feel not knowing if it will affect us or when this will end. There is a lot of tension in the world. We’re also all experiencing this for the very first time and that common ground does help ease some of the anxiety, at least for me. We are truly in this together yet I’m amazed at the range of reactions that I’m seeing among our colleagues in real estate. During last month’s CAR Board of Directors meeting, I quoted Austrian neurologist and Holocaust Survivor Viktor Frankl: “The one thing that you cannot take away from me is the way I choose to respond to what you do to me. The last of one’s freedoms is to choose one’s attitude in any given circumstance.” I agree that our attitude of how we react in the face of COVID-19 is our choice. But it is not our right to disregard the laws and orders that are put in place by local, state, and federal entities. You can choose to believe or not believe that there is a real threat to our health and even our lives, but regardless, the laws must be followed. Clearly, the immediate issue with not following the Safer at Home order from Gov. Polis is that you could find yourself with a large fine and possibly even jail time. I know that the local police officers where I live have said they have no choice but to arrest anyone that is not obeying the order. But there is a bigger and more detrimental impact in not following these orders. As REALTORS®, we are held to a higher standard. Our work and our public persona by following the Code of Ethics sets us apart and, quite frankly, sets us above others in the industry. We work hard to protect the consumer and to protect our industry. In disregarding state order, we are making the statement that we do not have to follow the same rules as everyone else. Whether we like it or not, we are very visible out there in the world. Like the title says, the world truly is watching. This is the perfect time to put all of the provisions of the Code of Ethics into practice. We can and should protect the consumer, our fellow REALTORS®, and yes, dare I say, even licensees. 4

STAY UP-TODATE Subscribe to CAR's YouTube Channel!

CAR LEGAL BITES

It’s extremely hard to make our “good work” apparent to members of the public; we’ve been working on that for many years. But unfortunately, it’s extremely easy for the public to see when we are not acting as we should, when we disregard public policy especially at this time of high unemployment, extreme frustration, fear, and even desperation as we wait to see how this is all going to play out.

CAR PAST PRESIDENT TIPS

Also, please keep in mind that as an association, we want so badly to put money back into the communities that we serve. This year, the CAR Foundation is going to triple the amount that is typically given out for housing needs around the state. This is the time to do it. But all of that goodwill created from donating to those in need will be for naught if we continue to put ourselves above the law. Please make sure to not only be well-versed in what the State of Colorado’s Safer At Home order says, but also make sure to be in touch with your local governments regarding their restrictions as they could be very different and more restrictive than the state’s order. Use your good judgement in how to navigate our current reality and keep the wellbeing of the public, your colleagues, and your own at the forefront of your mind.

RPAC MINUTE

Thank you for all you do, and please be safe out there. We’ll get through this and we’ll be stronger than ever, but we all have to do our part.

What Will Your Business Look Like in the Aftermath? FROM THE CEO

Tyrone Adams CEO of the Colorado Association of REALTORS®

For the most part, we have moved past the shock of the COVID-19 pandemic and the havoc it has caused. No one has been immune to its devastation and no one knows what the narrative will be once it subsides. Are you paralyzed with the fear of the unknown? Or are you using this time to reinvent yourself? You’ve heard the cliché: "Invest your energy in the things you can control.” While we do not have control over the evolution of the pandemic or the countless versions of public health orders at the state and local level, we do have control over how we prepare for tomorrow and deal with the realities of today. Some of the things we are doing at CAR are conducting member surveys, staying up to speed on the economy recovery efforts and forecasts, participating in industry coalitions, sharpening our business skills, and becoming more familiar with different technological advances in communications. We are even looking at how we will operate internally once we can return to our offices. We most likely will not need to totally reinvent ourselves, but we do know that it will not be business as usual. We are being careful not to jump right back to familiar rhythms and normalcies. We also know it is not the time to be stagnate. We feel it is the time to elevate the Association to be prepared as much as possible for what is next to come and to meet our members’ post pandemic expectations.

If you have not digitized your business yet, now is the time!

What are you doing to prepare for your customers’ new expectations? What are you doing to reinvent your business?

decided to share eight tips in eight days as part of their continued contributions to Colorado REALTORS®. Here is one of the tips from 1994 CAR Past President Chris McElroy:

• If you have not digitized your business yet, now is the time! Figure out what processes, assets, products, or services you are currently implementing in a manual fashion and figure out how to digitize them. Think about how Zoom has taken over the way we communicate. How can it or a similar platform fit into your communication strategy?

“Today, I RESOLVE to be one of 10 percent of the people who actually experience post-pandemic growth and actually be stronger than I was before the trauma happened. I’ll use the tools I am learning. I will read more both on business and health, I’ll look to marketing, messaging, and systems. I’ll also provide new safety measures I have learned how for the future. I’ll change, I’ll adapt, and I’ll learn more than I thought I was ever capable of.”

• Catch up on professional development. Read the books you have had on the back burner. Or dive into an online course that covers topics you just have not been able to get around to before the pandemic hit.

You can find more of these affirmations on page 15. Remember, successful people, companies, and associations work to reinvent themselves all the time to put themselves in the best position to meet the needs of their customers. They do this even when they don’t exactly know what those needs are just yet.

• Focus on the positive things, like gratitude, or your ability to reinvent your business and build new skills. Just recently the Past Presidents and Chairs of CAR came together to discuss ways they can help members during this challenging time as many of them have worked through some turbulent times in the industry before. They

Enjoy reinventing yourself!

INVENTORY OF ACTIVE LISTINGS STATEWIDE - APRIL

MARKET TRENDS

15,435

April’s Real Estate Pause Not Nearly as Bad as Feared

-7.9%

16,513 13,774 7.0%

-16.6%

5,601

4628 APR 2018

APR 2019 SINGLE FAMILY

APR 2020

5,120

-1.1%

21.0%

-8.6%

APR 2018

APR 2019

APR 2020

TOWNHOUSE/CONDO

Cautious optimism prevails as delayed selling season kicks in While the real estate universe paused with bated breath in April, the results of a complicated, pandemic-driven start to the typical buying and selling season weren’t nearly as bad as many in the industry feared, according to the latest monthly market data from the Colorado Association of REALTORS® (CAR) and analysis from REALTORS® across the state.

the months supply at just 1.6 months. The National Association of REALTORS® conducted flash surveys of its members in April and early May which indicated that, despite concerns, buyer and seller sentiment is leaning toward completing the transaction, even if it’s delayed by a few months.

Navigating through complex and fast-changing stay-athome and safer-at-home orders with varied restrictions and timelines from city to county to state, buyers, sellers and their REALTORS® continued to find new, creative ways to complete real estate transactions within mandated social distancing guidelines. Despite a more than 35 percent year-over-year drop in new listings, as much as a 20 percent decline in the inventory of active listings, as well as a 23-plus percent decrease in sold listings statewide, the market stood its ground with buyers who took advantage of low interest rates and drove sales in a wide range of markets and price ranges.

“While the overall numbers aren’t necessarily cause for celebration, they may in fact, be cause for cautious optimism,” said Denver-area REALTOR® Matthew Leprino. Taking a look at some of the state’s local market conditions, Colorado Association of REALTORS® market trends spokespersons provided the following assessments:

AURORA “It is very difficult to lump all of the Aurora home sales numbers together. The numbers vary drastically from one zip code to another. Inventory dropped more than 40 percent in the 80016 zip code while home median home price rose 6 percent to $577,925. Ironically, solds were down 40.7 percent as lack of inventory continued to have a significant impact. Looking at 80015, we saw a 17 percent drop in inventory and a 3.6 percent increase in median price for the 72 properties sold in the month of April in this very hot zip code. Taking a look at 80013, we had a 13 percent dip in inventory and a 9 percent price increase to $395,000 in the 80013 zip code which includes central and south Aurora. In the 80010 zip code we had a 31 percent drop in inventory and just over a 6 percent increase in median price to $315,000.

The conditions held median sales pricing fairly steady from March to April 2020, down just 1 percent for single-family homes statewide and just over 2 percent in the seven-county Denver metro area, but kept those prices up 5 percent from a year ago statewide ($419,000) and nearly 3 percent higher in the Denver metro area ($457,000). With limited inventory pre-COVID now pushed to even lower levels, and strong demand continuing through the crisis, the average days on market fell nearly 13 percent statewide from a year prior to 41 days. In the seven-county Denver metro area, a dip of nearly 20 percent pushed average days on market to just 25, nearing a 10-year low as tracked by CAR. In addition, overall months supply of inventory fell nearly 17 percent statewide from April 2019 to just 2 months while in the Denver area, a nearly 24 percent drop from last year puts

“The City of Centennial enjoyed a nearly 10 percent year-overyear price increase reaching an all-time high median price of $616,000. Not surprising given that the inventory was down nearly 40 percent from a year ago.

than a 2 percent decline in the monthly sales volume, a 10 percent increase in the year-to-date sales volumes, a 7 percent increase in the average price, and a 10 percent increase in the median sale price. The average sales price ascended to $395,724, and the median sale price climbed to $360,000. Last month, the single-family/patio home sales recorded the highest level of year-to-date sales volumes, as well as the highest level of average and median sales prices, and second highest level of year-to-date sales (only 13 sales below the highest level) compared to any April on record.

“Despite our COVID-19 challenges, the numbers clearly show inventory down, prices up, and homes still selling in Aurora and Centennial,” said Aurora-area REALTOR® Sunny Banka.

BOULDER/BROOMFIELD

“The single-family/patio home sales data shows that during the past 5 years, April 2015 to April 2020, the monthly sales increased by 9 percent, year-to-date sales by 26 percent, monthly sales volume spiraled 62 percent, year-to-date sales volume soared more than 88 percent, median sales price rose 49 percent, and average sales price was up more than 53 percent. All of this escalation took place while, shockingly, active listings declined by 41 percent.

“The effects of the COVID pandemic on the real estate market have been the topic of many conversations in the last month. The numbers are starting to come in representing sales during this time and not surprisingly, new listings were down in Boulder County 17 percent in April. If anything, the surprise is that they weren’t down more significantly. In fact, even though listings were down, sales were up 4 percent and prices stayed the same. The average days on market also remained relatively unchanged, as well, indicating the strength of our underlying real estate market. Even without the ability to show homes, buyers still purchased, and sellers still sold. The low inventory and high demand buoyed up what could have been a disastrous month for real estate. As the ability to show homes relaxes in the coming months, the spring market will be pushed into the summer and the indicators look positive for a strong, active summer and fall.

“Last month, 83.6 percent of the single-family homes sold were priced under $500,000, 14.6 percent were between $500,000 and $800,000, and 1.8 percent were priced over $800,000. Year-over-year, there was a 38 percent drop in the sale of single-family homes priced under $300,000, primarily due to the inventory shortage, while we had a more than 48 percent increase in homes priced between $400,000 and $500,000, and a 24 percent drop in homes priced over $800,000. “Even in a strong real estate market, buyers generally purchase properties offering competitive values. It was not surprising that while the listing inventory was at an alarmingly low level with only 1.3 months supply, only 77 percent of active listings sold during the month compared to 84 percent last year.

“In Broomfield County, sellers seemed inclined to wait to list their homes, with new listings down 30 percent. Sales volume followed in line with a decline of 17 percent, but homes that sold did so at a median price 7 percent higher than at the beginning of the year. In spite of not being able to show homes in person, average days on market remained around 34 days, indicating the underlying strength of the real estate market in this area as well. With showings allowed starting May 9, listings and sales are expected to soar and the busy spring market will likely be pushed into the summer and fall,” said Boulder/ Broomfield-area REALTOR® Kelly Moye.

“Sadly, pathetically low inventory and affordability challenges due to ever-soaring prices continue to be the most problematic aspects of the Colorado Springs-area housing market, especially for first-time homebuyers. Though the current level of escalated pricing presents a daunting challenge for our local buyers, for buyers from the Denver area, our housing prices are still very attractive,” said Colorado Springs-area REALTOR® Jay Gupta.

COLORADO SPRINGS/PIKES PEAK AREA

“April was a very interesting month across the country and that was no different here in the Pikes Peak Region. Singlefamily listings were down just over 29 percent as sellers tried to avoid personal contact and the COVID unknowns. Pending sales decreased 28.2 percent and sold properties dropped 9.5 percent. But the market remained surprisingly hot as both

“While the Colorado stay-at-home order was in effect during the entire month of April, prohibiting in-person showings and open houses, the Colorado Springs-area housing market performed amazingly well. The year-over-year home sales activity saw only an 8 percent drop in the monthly sales, less

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MARKET TRENDS CONT. buyers and sellers continued to work past major obstacles and creatively move home inventory. Median sales price across all properties was up 9.3 percent from last year.

less than previous years, also increased this last April by 5.9 percent over last year – that in stark comparison to the previous year’s (2018 to 2019) growth of only 1.3 percent and from 2017 to 2018 a number that grew by 16 percent.

“Nationwide, we saw tens of millions of Americans hit the unemployment lines in April. The U.S. went from the lowest unemployment to double-digit unemployment in one month and the effects of that have not been realized yet. But, by the end of April we had many workers going back to work in a limited capacity. The FED jumped in with massive spending throwing trillions of dollars at the economy as it free fell. Printed money was tossed at everything from $1200 being sent to taxpayers and PPP loans being offered to businesses. In 2008, we spent $750 billion on the TARP bailouts and we are spending double that a day, at times.

“This being the first month of significant disruption from beginning to end, could be the wrapping up of a prosperous era in the real estate universe or it would be merely a pivot as the world adjusts to an altered state of supply and demand. Like any economic shift, the full results will take months if not years to see more clearly but for now, the truth of Denver’s insatiable appetite for housing remains, at least for now, alive and well,” said Denver-area REALTOR® Matthew Leprino.

DURANGO “There is little question that, with GDP plummeting, the country has likely entered into recession along with the rest of the world’s major MEDIAN SALES PRICE STATEWIDE COLORADO economies. It will take a few months to really understand what this economic ‘break’ and bailout has affected in 5.0% areas of our economy, both locally and nationally. But one area that has not APR 2020 - SINGLE FAMILY HOME really felt it is housing. With low interest rates and low inventory, housing continues to sit on surprisingly solid ground through the month of April,” said 3.3% Colorado Springs-area REALTOR® Patrick Muldoon. APR 2020 - CONDO/TOWNHOME

$419,900 $315,000

“April sales numbers in La Plata County were down 16 percent, but with a strong first quarter, they were just enough to keep year-to-date sales above the prior two years and featured many more singlefamily sales than condos-townhomes. Looking ahead, pending sales, down 42 percent in single-family for the month and 69 percent for condo/townhomes, give a dismal outlook of May’s potential with a stay at home order through most of the month, preventing any showings of homes.

“Looking forward to our 2020 outlook, our number one question is whether we will have a tourist season. The health of our local economy depends on our businesses being open and workers returning to their jobs. There are numerous small businesses that may not re-open, which will ultimately affect the local housing market.

DENVER “While the real estate universe paused with bated breath in April – wondering how bad it would get, the results are finally in and aren’t quite what we’d feared. While the numbers for Denver aren’t cause for celebration, they are in fact, cause for cautious optimism.

As far as bigger picture real estate, with a remote ‘vibe,’ a large regional health care facility, as well as a local airport, Durango tends to win when buyers re-evaluate life choices as they have been sequestered during the COVID-19 crisis. It’s too early to tell what the year will bring, but with interest rates as low as they currently are and an approaching tourist season, albeit smaller than we’ll have seen in many years, we may break even to last year’s number of sales with prices holding steady. Without a tourist season, the economic suffering we will experience in the community will spill over into the real

“From April 2019 to 2020, the number of new listings to market fell 41.4 percent, not surprising given both the Mayor and Governor’s enaction of the ‘pause button’ on the ability to show homes. What occurred seemingly against that data is prices both increased and average days on market decreased. Falling 37.5 percent from April 2019, the average days on market for a single-family dwelling now sits at just 15 days. The median price, a number expected to grow considerably

estate market, with potential of more inventory, longer days on market, and prices softening,” said Durango-area REALTOR® Jarrod Nixon.

“We saw 189 properties close in April which is down 24 percent from April of last year, yet on the whole, purchases year-to-date have dipped only 4.2 percent with median price calculations showing an increase of 2.9 percent ending the month at $432,000. Demand for housing, coupled with limited inventory, still drives pricing.

ESTES PARK

“Other numbers illustrate the effects of the widespread economic shutdown with days on market jumping up 18 percent year-to-date. Homes available for sale took about two weeks longer to close during the time buyers were restricted to virtual home shopping. Part of what this number illustrates is how buyers adapted to making offers on property. Many offers were made sight-unseen, contingent on a physical inspection after going under contract. This strategy likely drove up days on market simply because it took longer to close a property subject to delays in inspections and even appraisals.

“The Estes Valley is definitely showing short-term effects from the COVID pandemic, stay at home orders and lack of tourism as we are so dependent on out of town visitors for revenue and secondary home purchases, beyond the normal happenings of our rural mountain town. New listings were down 32 percent, sold listings were down 20 percent and pending/under contract numbers dropped a dramatic 48.2 percent from April 2019 for single-family homes. Townhouse/condos are having the same struggles with major reductions in activity. New listings fell 33.5 percent, sold listings fell 21.3 percent and pending/under contract numbers were drastically lower with a 57 percent decrease from the same time last year. The COVID pandemic has taken its toll in the short term, but there is still some growth to note the true strength of the market in this area. Median sales price continues to climb, up 5.4 percent for single-family homes, and a nice 3.5 percent bump for townhouse/condos, compared to April 2019. Year to date, the average sales price has increased 3.3 percent for single-family homes and 5.4 percent for townhouse/condos. Townhouse/ condos continue to show desirability with the consumer in the Estes Valley as evidenced by continued increases in sold listings, up 13.2 percent year to date. While we don't know the long-term effects of our current health crisis, there is energy and positive momentum that real estate in the Estes Valley will move forward and recover,” said Estes Park-area REALTOR® Abbey Pontius.

“Looking ahead to the May numbers – we may see a yearover-year bump in those numbers as the public health orders have eased with regard to showing property. The pent-up energy of homebuying is much like the pent-up energy of our mountain snowpack. With the increase in temperature, the frozen water is released and swells our streams and rivers. Buyers, previously frozen at home have been released into the marketplace armed with masks, hand-sanitizer, and low interest rates. Reports of surges in activity are common across the front range, especially at the median price points,” said Fort Collins-area REALTOR® Chris Hardy.

FREMONT/CUSTER COUNTIES “Custer County new listings were down 50 percent compared to April 2019, yet sales were up 75 percent for the same period. Year-over-year new listings were up 1.3 percent and sales were up 39.4 percent, depicting a fairly strong housing market in the area. Sales may see a bit of a lag in the area over the next month, but new listings will increase now that the statewide stay-at-home order is relaxed. The market continues to show a positive increase in the median price of homes and that positive increase has been steady over the last 10 months.

FORT COLLINS “April’s housing numbers, like most economic numbers around the globe, showed marked slowing due to pandemicdriven shelter in place orders. Many sellers continued to pull their once for-sale properties off the market, as we saw at the end of March, and with more restrictive guidance from the Colorado Department of Public Health and Environment (CDPHE), in-person showings halted altogether. In spite of these impediments, there were still substantial numbers of transactions to report across the Fort Collins metro area.

“Looking at Fremont County, we saw new listings finish April 30 percent lower than April 2019 and sales dipped nearly 21 percent. Year-over-year listings were down 6.7 percent and sales were down more than 13 percent. However, listing activity since the Governor’s stay at home order has been

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MARKET TRENDS CONT. relaxed appears to be very strong. This indicates that May new listings and sales will most likely catch up. The median home price has shown positive appreciation over the past 28 months bringing it to its current affordable value of $234,500,” said Fremont and Custer County-area REALTOR® David Madone.

current listing inventory at $384 million (compared to $924 million in 2008), average sales prices are at 96.2 percent of list price for single-family and 97.8 percent for multi-family. “The quarantine has demonstrated that many occupations can now be performed location-neutral. In the past century, home has never been more important than it has been for the last eight-plus weeks. If people were not happy with their home prior to COVID, they may be further incentivized by low interest rates to become buyers once again or for the first time. Effects of the pandemic may also cause some people to reassess their priorities on where they want to live and feel safe. A destination location like Steamboat and the Yampa Valley could see activity as a result,” said Steamboat Springsarea REALTOR® Marci Valicenti.

GOLDEN/ARVADA – JEFFERSON COUNTY “In Jefferson County, April single-family homes sales fell 20 percent, new listings were down 33.5 percent, and inventory decreased 15.3 percent from this time last year. The median sales price increased to $495,000 and the homes that remained active were under contract an average of just 15 days. “As for the condo/townhome market, sales dropped nearly 32 percent, new listings were down 33.5 percent and inventory decreased 15 percent from this time last year. The median sale price rose to $331,716 with average days on market also at 15.

TELLURIDE “April 2020 sales were up 134 percent over April 2019 putting the first four months of 2020 up 54 percent over the same period in 2019. However, most of those sales were in the pipeline from earlier in the year. San Miguel County has an ordinance prohibiting short-term rentals to anyone who lives outside of our county effectively prohibiting tourism, the major drive of our economy. That ordinance will be revisited on May 31. Several major festivals like Bluegrass, The Ride and the Fourth of July Parade have already been cancelled.

“COVID-19 has affected the numbers greatly for all properties however, supply and demand is still driving the sales price up. There are plenty of buyers out there that still need to buy a home. We will see in the coming days, now that Jefferson County is operating under the safer at home order, if multiple offers come rushing back and how many new listings hit the market in May,” said Golden/Jefferson County-area REALTOR® Barb Ecker.

“Starting about a week ago, real estate brokers are now allowed to live stream a video to their client from a listing. Several health safety precautions are required regarding those video tours. We can show property to a buyer who lives in San Miguel County but that buyer pool is very small.

STEAMBOAT SPRINGS/ROUTT COUNTY “COVID’s abrupt end to the ski season and the prohibitions of nightly rentals took a toll on April’s real estate in Ski Town USA® and its bedroom communities. A total of 34 homes closed in April, a 55 percent decrease from April 2019. At a time when sellers would typically be getting a jump on the spring selling season, we saw increased activity of sellers withdrawing their properties from the market. New listings were down 48 percent, indicative of tactical decision-making as governments assessed and determined the restrictions of the quarantine. Buyers should anticipate the bulk of our market’s summer listing inventory to hit around the first of June. Hopefully, this will correspond with the lifting of nightly rental restrictions and opening of restaurants at the end of May. Pending activity is occurring daily and buyers who may have hit the ‘pause’ button are coming off the sidelines. With

“The National Association of REALTORS® has published some new buyer trends that may be helpful for remote resorts. More people may want to leave higher density urban areas and move to remote locations that are potentially safer. Many professionals are able to work remotely and from their homes. Some buyers may look to real estate as an investment considering the recent volatility of the stock market. However, many of our second homeowners are from Texas and are in the oil and gas business which is being pounded in the global economy. To summarize, we really are unsure of our real estate and tourist economy in that none of us have ever experienced a health pandemic like we are in now,” said Telluride-area REALTOR® George Harvey.

VAIL

“The initial impact of COVID-19 might appear bleak but we need to look forward. Since the beginning of May and the lifting of the in-person showing ban, we have seen a significant increase in activity particularly in the locals housing niche of the market. This is encouraging as the local’s market generates 50-55 percent of our unit volume. Low interest rates help this segment and as activity picks up and businesses begin to open, jobs will increase and there is solid optimism for a reasonable recovery. The second home market is still the question mark as no one knows if and when travel limitations for the front range buyers will be lifted which represent approximately 20-24 percent of the market. The out-of-state buyers, who represent 25-27 percent of our market, will most likely be controlled by the level of air traffic increases over the summer months. The second home market is very important to us, as it is approximately half of the transactions but a far greater percentage of total dollar volume,” said Vail-area REALTOR® Mike Budd.

“The month of April had a significant impact on year-to-date performance and comparison to April 2019. On a transactional basis, the overall market was down just over 50 percent versus April 2019 while our year to date is down more than 20 percent. On a product basis, single-family/duplex units were down 49 percent versus a year ago with townhouse/condo units off 55.4 percent. At the end of March, the market was basically flat compared to 2019 year to date. On a dollar standpoint the month of April was down 49 percent versus 2019 and the yearto-date dollars were off 13 percent versus a high single-digit number at the end of March. “The near-term prognosis is murky at best as pending sales in April were down 53 percent on single-family/duplex and negative 59 percent on townhouse/condo units. From a year-to-date standpoint we are negative 45 percent on single-family/duplex and down 30 percent on townhome/ condo units. Inventory is still declining and year over year we are down 16 percent which, although negative, is holding relatively steady as a trend which has been ongoing for the past 18 months.

Median Sales Price - Statewide Median Sales Price - Month May-2019 Jun-2019 Jul-2019 Aug-2019 Sep-2019 Oct-2019 Nov-2019 Dec-2019 Jan-2020 Feb-2020 Mar-2020 Apr-2020

Single % Change % Change Townhome % Change % Change Family YTD Monthly Condo YTD Monthly $410,500 +3.9% +2.6% $315,000 +5.0% +3.3% $407,000 +1.8% -0.9% $309,900 +1.6% -1.6% $409,000 +4.9% +0.5% $310,000 +4.0% +0.0% $405,000 +3.8% -1.0% $315,000 +6.4% +1.6% $400,000 +6.7% -1.2% $312,216 +2.4% -0.9% $399,950 +5.3% 0.0% $314,950 +5.1% +0.9% $398,000 +5.7% -0.5% $315,000 +5.4% +0.0% $400,000 +0.5% +0.5% $319,000 +3.9% +7.0% $399,000 +5.8% -0.2% $307,000 +5.7% -3.9% $411,000 +6.8% +3.0% $313,000 +5.6% +2.0% $424,000 +8.0% +3.2% $329,000 +11.2% +5.1% $419,900 +5.0% -1.0% $315,000 +3.3% -4.3%

Real Estate SnapShot S TAT E O F C O L O R A D O - A P R I L 2 0 2 0 PERCENT OF LIST PRICE RECEIVED

99.6

Historical Median Sales Price

0.3%

AVERAGE DAYS ON MARKET

-12.8%

YTD 2020= 51 YTD 2019= 52

$500000

$400000

$300000

$200000 Dec 2017

MONTHS SUPPLY

-16.7%

2.0

Mar 2018

June 2018

Sep 2018

Dec 2018

YTD 2020= 41,442 YTD 2019= 46,132

$400,000

APR 2020= 6,786 APR 2019= 9,933 YTD 2020= 33,256 YTD 2019= 38,321

$415,000

5.0%

6.4%

2020 2019

2020

Sep 2019

Dec 2019

Mar 2020

Single Family Condo

$315,000 $305,000 $390,000

2019

Inventory of Active Listings

$315,000

10.2

6.8%

2020 2019

2020

$298,500

2019

Sold Listings 9,933

22,396 7,626

19,116

41.3%

June 2019

State of Colorado $419,900

APR 2020= 9,363 APR 2019= 14,621

Mar 2019

Median Sales Price

2019= 2.4

-36%

Single Family Condo

State of Colorado

-14.6%

16,513 13,774

-16.6%

-8.6%

-23.2%

7,444 5,930

-20.3%

5,120 5,601

-32.4% 1,660

2,455

2020 2019

Total Market

Single Family

Condo

Total Market

Single Family

Condo

Percent changes calculated using year-over-year comparisons. All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing.

For more data visit ColoradoREALTORS.com 14

8 TIPS YOU CAN USE RIGHT NOW ADVICE FROM PAST CAR PRESIDENTS AND CHAIRS

TAKE ACTION TO GROW Today, I RESOLVE to be one of 10 percent of the people who actually experience post-pandemic growth and actually be stronger than I was before the trauma happened. I’ll use the tools I am learning. I will read more both on business and health, I’ll look to marketing, messaging, and systems. I’ll also provide new safety measures I have learned how for the future. I’ll change, I’ll adapt, and I’ll learn more than I thought I was ever capable of. -Chris McElroy, 1994 CAR President

RETURN TO BASICS There certainly a lot of value in the "Return to Basics" message. Too many times we get caught up in the search for the new magic idea or tools. We often realize that our business remains constant - personal relationships. This "pause in time" such as we are experiencing might be a great opportunity to pursue a personal goal or to learn something new. For example, I have chosen to focus on my health and plan to exercise more and loose weight. -Alan Lovitt, 2016 CAR Chair

STAY INSPIRED A few thoughts taken from “Vows of the Rich” by Og Mandino that I find inspiring are: • Never again will I pity or belittle myself. • Never again will I greet the dawn without a map. • Never again will I be disagreeable to a living soul. • Always will I seek the seed of triumph in every adversity. • Never again will I perform any task less than my best. • Always will I examine, each night, my deeds of the fading day. - Randy Reynolds, 2011 CAR President PLAN FOR TOMORROW One thing that I have learned is most agents and brokers do not put money away for a rainy day fund. Many of us work as independent contractors. It’s not how much you make, but how much you keep. We should also invest in real estate for the long haul. There may come a day when you can’t work. - Ted Bryant, 1982 CAR President

STAY ON TARGET I have a pattern that I follow every day! I call five people in the morning and write notes to people I talk to, and I leave a BombBomb video instead of leaving a voicemail message! I walk to mail box around noon with my five morning notes! I repeat the same pattern in the afternoon so I can take notes to mailbox when I pick up mail! On the days have a real estate appointment—I shoot for three to five calls/notes!! The results have been phenomenal! -Scott Matthias, 2012 CAR President STAY IN TOUCH The most important advice I can give is to call all of your current seller and buyer clients and past clients you haven’t talked to in the last two years. Don’t talk about real estate unless they bring it up. Only ask how they and their families are doing and listen with empathy. They’ll really appreciate that and you’ll feel better, too. -George Harvey 2010 CAR President

LOOK AT YOUR FINANCIALS I think one of the most valuable things REALTORS® can do is be very aware of what they are automatically paying for. Start by doing an in-depth evaluation of each expense you have. What does it achieve? Is it supposed to generate business? If so, how much has it generated over last 12 months? Where have your last 12 months of business come from? Which, if any, of these expenses are not necessary because they are redundant or bring you no benefit? -Ann Hayes, 2018 CAR Chair

KEEP A GOOD ATTITIUDE To maintain a good attitude while overcoming obstacles, I have learned the following: • Wake up and count your Blessings not your Bummers! • Trials are part of the journey leading to wonderful end results. • Losers blame, lie and make excuses. Winners own it. • Being humble is most rewarding. • Name 3 things you are grateful for before going to sleep. • An act of kindness will reach your soul. - Jolon Ruch, 2012 CAR Chair

Navigating the Real Estate Industry in the Wake of Covid-19 Simon Kafati FirstBank Assistant Vice President, Mortgage & Consumer Lending

When, and how, will people get back to buying and selling houses? That’s one of the questions keeping many of us awake at night. A number of real estate transactions have been put on hold as our communities confront the health effects of the COVID-19 pandemic. As the “new normal” begins to take shape, there is an opportunity for real estate agents to strengthen their services.

of REALTORS®’ dedicated portal in order to conduct business activities, like showings, safely. 2. Serve, don’t sell – Right now, people across the country are facing multiple crises that are affecting their health, families, jobs, and finances. This is not the time to be sending out glossy sales listings or strong marketing messages. Instead, focus on how you can be of service to the members of your community. Ask your neighbors, clients and colleagues how they’re doing. What do they need? What do their neighbors or family members need? Let people in your online social circles know, in a low-key way, that you’re available to help.

As we begin to navigate the next phase of restrictions, here are four essential tips and easy-to-implement tactics that will help you strengthen your business and fortify client relationships. 1. Know the facts – Ever since the coronavirus first emerged in the news, the story has been changing and developing with breathtaking speed. In order to understand the issues and regulations as they relate to the real estate industry, including social distancing regulations, you have to tap into reputable trade sources. Since each state has different laws regulating real estate transactions, it’s important to follow the national industry news as well as the latest developments for Colorado.

Tactics: Tap into NextDoor to see what your neighbors and community may need help with or reach out to clients, friends, and your network with a simple phone call or email to check in. Also consider creating care packages for clients, neighbors or prospective clients and drop them off on the front porch. Include comfort snacks, coffee and tea, recipe cards, and tips for stress relief with a personalized note. Looking for ways to help, not sell, people during this time will help you build relationships and make connections that can lead to business in the future.

Tactics: Resources like the National Association of REALTORS® website provide helpful industry information at a national scale. For Colorado-specific information, stay tuned into the Colorado Association

3. Provide great information – Along with practiportunities to hone your video skills, lead generation cal help, people are hungry for news and informatactics or marketing efforts. Those will be beneficial to tion they can use. According to the latest data from your business long-term. LiveIntent researchers, emails focused on health and fitness have seen a 34 percent increase in opens, Tactics: Invest time into learning how to successand e-newsletters have pulled a fully leverage video platforms 23 percent uptick in open rates in like Zoom, Skype or FaceTime to the past month. Think of how you facilitate meetings. Test out apps can use your website, blog, emails, like Magisto which will help you Think of how you can and social media to offer valuable capture and edit video footage content to the people you know on your phone or explore email use your website, blog, and serve. marketing tools like BombBomb emails, and social media to easily record and send video to offer valuable content Tactics: Make sure your content is emails to clients and prospects. to the people you know easy to share and highly relevant Remember that you don’t have to people in your specific commuto wait for the end of social disor serve. nities. What local restaurants are tancing regulations to add more offering takeout or delivery? What information to listings that give are some great apps or websites buyers a better idea about the with ideas for keeping kids busy property’s features. While you and happy? Are people in your community looking may be able to show homes by limiting the number for at-home fitness classes? Although inventory is of people in the home, there are still plenty of interlow in Colorado, making it difficult for buyers to find ested home buyers who might still prefer to limit their homes, refinancing activity is high. If you can provide in-person interactions. information and help people navigate the re-fi landscape, you’ll be laying the groundwork for stronger While these are trying times, there are plenty of things relationships further down the line. you can do now to expand your toolkit, helping to ensure a more secure future for your business. Not only will that 4. Brush up on your skills – This is a perfect time for help you sleep better at night – it will make you part of a online professional development that will pay off in stronger, more resilient future for your communities and spades when business picks up again. Look for opclients.

WILDFIRE

Safer at Home Allows Time for Wildfire Season Preparation For More Than Half of State’s Residents Living in WUI. May 2nd Marks 7th Annual Wildfire Community Preparedness Day and Kickoff to Wildfire Awareness Month. While COVID-19 has changed facets of Coloradans’ personal and professional lives and required residents everywhere to stay at home, for more than half of the state’s population who live in a wildfire prone area, the stay at home and safer at home mandates present an opportunity to prepare for the upcoming wildfire season. With Wildfire Awareness Month in May, wildfire, insurance and REALTOR® professionals are encouraging the nearly three million Colorado residents living in the wildland-urban interface (WUI) to prepare their homes and communities for wildfire in the weeks ahead. “Every homeowner should be aware of their wildfire risk and the associated responsibility to

reduce that risk, not only to protect their property, but also to improve the safety of first responders,” said Colorado State Forest Service (CSFS) Wildfire Mitigation Specialist Daniel Beveridge. “There are numerous examples from the past few seasons showing that proactive wildfire mitigation efforts are effective and now is a perfect time for people across the state to take action.” The current outlook calls for average wildfire potential into midsummer with an early onset to fire activity in the southern portion of the state, and the southwest corner in particular. In an average year, Colorado would have 4,472 wildfires burn more than 160,400 acres. However, the impact on people and communities across the state would be further magnified during a wildfire season with

May is Wildfire Preparedness Month. 18

COVID-19 factors in play through air quality issues, evacuation challenges and access to wildfire resources, according to an early April update from the Colorado Division of Fire Prevention and Control. Although COVID-19 related restrictions prevent residents from conducting group mitigation activities, wildfire officials are encouraging individual homeowners to take advantage of this extra time at home to engage in a wide range of low-cost mitigation steps proven to protect homes and land and help reduce damage to structures and communities. “Since wildfire is not affected by viruses like the human population, it is all the more important this fire season to prepare our-

selves and our homes for its impact, no matter where in the state we live,” said CSFS’s Beveridge. From completing home inventories, including photographs and video, to cleaning gutters and rooftops, to trimming backyard shrubs and trees and removing flammable materials from the perimeter of the home, there are a wide range of easy steps that homeowners can complete as coronavirus restrictions keep people at home. Reviewing insurance policy details and updating coverage are also key steps in the process along with creating and reviewing evacuation plans and emergency toolkits. “During these uncertain times when all of us are worried about protecting our personal finances, it’s important we take steps to prepare our properties and insurance policies for wildfire season,” said Rocky Mountain Insurance Association (RMIA) Executive Director Carole Walker. “Using this time at home to create an inventory of personal belongings and checking in with your insurance professional to review coverage are projects we usually procrastinate that will help homeowners be financially prepared for wildfire and natural disasters.” Based on recommended fire-

mitigation activities from the National Fire Protection Association (NFPA), the Colorado State Forest Service (CSFS) advises homeowners complete the following activities at home while practicing social distancing. Top 10 Wildfire Season Preparation Activities: 1. Rake and remove pine needles and dry leaves five feet from the home as well as under decks, porches, sheds and play structures. 2. Remove leaves and needles from roofs and gutters. 3. Sweep porches and decks clear of any burnable plant material. 4. Move firewood piles at least 30 feet from the house, preferably uphill. 5. Transfer items under decks or porches to a storage area. 6. Cover any exposed eave or attic vents with 1/8-inch metal mesh screening. 7. Ensure home address signs are clearly visible from the street. 8. Contact the local Office of Emergency Management to register for emergency notifications and encourage your friends, family and neighbors to do the same.

9. Confirm at least one alternate path out of your neighborhood other than the one most commonly used and be prepared for potential evacuation requiring the alternative route. 10. Create an inventory of valuables in your home including written summaries, photography and video. Source: CSFS and NFPA Wildfire experts and key stakeholder organizations and professionals across the state offer a diverse range of resources and recommendations to help Colorado citizens prepare for and respond to wildfires, including: • The National Fire Protection Association (NFPA), which founded the National Wildfire Preparedness Day in 2014, offers comprehensive research and a wide range of downloadable fact sheets, brochures, checklists and visuals to help residents understand wildfire threats and the steps needed to help protect homes. For more information and access to NFPA tools, visit: https://www.nfpa. org/ In addition, NFPA will host a free one-hour webinar offering homeowners guidance on how to prepare their homes to withstand a wildfire and how to prepare their continued on next page

WILDFIRE CONT... finances to recover from a loss. It will be held: May 20, 11 a.m. MDT. Click here to register. • The Rocky Mountain Insurance Association (RMIA) provides a range of wildfire specific downloadable tools, templates and education for homeowners, including home inventory checklists, wildfire prevention tips and evacuation planning tools via its website: http://www.rmiia.org/ index.asp. • The Colorado State Forest Service hosts the Colorado Wildfire Risk Assessment Portal (COWRAP), an online mapping tool that provides access to statewide wildfire risk assessment information: www.coloradowildfirerisk. com • Colorado Association of REALTORS® in cooperation with wildfire and insurance industry experts produced a consumerfocused Colorado Property and Insurance Wildfire Preparedness Guide featuring best practices in wildfire mitigation, defensible space, safety and insurance preparation for property owners, frequently asked questions and direct links to a wide range of local community resources for residents. The guide is available at ColoradoProjectWildfire.com. Since launching Colorado Project Wildfire in 2015, REALTORS® across the state have joined forces with industry experts to host

local wildfire education events for residents, share information and access to resources directly with homeowners.

the resources available to them to mitigate their properties and be prepared for the growing wildfire risk.”

“Although it’s easy to be distracted by the drastic changes that Coronavirus has brought us in the past two months, we can’t take our eyes off of the significant and potentially deadly threat that wildfires bring to our state each year,” said Ulrich Salzgeber, chairman of the Colorado Project Wildfire Taskforce for the Colorado Association of REALTORS®. “With more than 26,000 members living, working and supporting communities throughout our state, we will continue to be proactive in helping educate and support homeowners and residents living in these WUI areas about the steps they can take and

For more information visit www. ColoradoREALTORS.com/projectwidlfire

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LEGISLATIVE

Pandemic Will Shift Focus of State Legislature When It Reconvenes this Month

Elizabeth Peetz Vice President of Government Affairs, Colorado Association of REALTORS®

I always say that my job is never boring and that CAR is always there to fight for our industry. It's

enough to be mission critical is still being discussed by policymakers.

no different during this remote social distancing period. Here are a few updates on what is happening

• The reintroduction of wolves to Colorado;

As for statewide ballot initiatives, a few have qualified for the November ballot already. They include:

• The National Popular Vote Interstate Compact, which would decide whether Colorado should assign its electoral votes to the presidential candidate who wins the national popular vote regardless of which candidate wins Colorado, and;

in the Government Affairs arena.

• An initiative that would amend the Colorado Constitution to specify that one must be a U.S. citizen of at least 18 years old to vote in Colorado for local, state, and federal elections. Several other initiatives are in the middle of qualifying for the ballot, including: • limiting growth statewide • raising income taxes • public vouchers for campaigns • ranked choice voting

The Colorado General Assembly is reconvening on May 18th and legislators really have their work cut out for them. Their first task will be crafting a budget that is drastically different from the legislative plan they had in March when the legislature, like the rest of the world, paused its work to shelter in place. Many of the legislators were not present the last time Colorado faced a recession and budget cuts. In December 2019, the forecasts talked about surplus, now in May we see a completely different picture with COVID-19. The Joint Budget Committee met last week to draft a proposal for the legislature to debate before it heads to Gov. Polis for approval by May 30th. The executive agencies are looking to cut approximately 10 to 20 percent of existing budgets to be able to cover the state’s costs of responding to Covid-19. Given this environment many of the new funding passed in recent years to fund affordable housing, such as the vendor fee and the unclaimed property fund, are at risk to be temporarily swept to fund the general budget needs.

All of the initiatives in the process must be approved by the Title Board and then proponents must collect the requisite number of signatures from Coloradans. As you can imagine, it is difficult in this pandemic environment to gather signatures. CAR will be watching closely to see if any requirements are loosened for ballot title approval. CAR along with many other widely respected Colorado organizations strongly oppose any efforts to allow electronic signature gathering as an alternative to in-person signature gathering because it is fraught with unintended consequences to Colorado election security, including ballot title and voter fraud.

It also means that existing legislation that was working its way through the legislative process might be dead on arrival if the bill requires overcoming strong opposition, costs the state money to implement, or does not have bi-partisan support. The current bills still in the queue will follow after the budget and school finance act, but exactly which bills are important

The next few weeks will be a bumpy ride, and your CAR Government Affairs Team will be there representing REALTORS®. Stay tuned!

On His Fourth Career, Larry Kendall Shows No Signs of Slowing Down Larry Kendall displays his book "Ninja Selling" in front of Hudson Booksellers.

When Larry Kendall was named to the Colorado Business Hall of Fame earlier this year, it was one more recognition of a lifetime of accomplishments and contributions to the Colorado real estate community. Kendall co-founded The Group Inc. Real Estate in 1976 from which he retired two years ago. He also served on the board of 1st Bank for 25 years, taught at the Colorado State University School of Business for 10 years, and was CAR REALTOR® of the year in 2006. Like the industry itself, Kendall has evolved over the decades, learning and finding new ways to utilize his skills to nurture a new generation of real estate professionals. Presently, he is focused on teaching his Ninja Selling System, a sales course he co-created used by real estate professionals. “I now have 14 trainers, so I’m not doing it all. I used to teach 200 days a year. We’re training about 1,000 students a month with our system throughout the

U.S., Canada, and even New Zealand,” Kendall said. “It’s very rewarding and a lot of fun. I mostly teach now in Ft. Collins where people will fly in from all over. A typical class is 96 students and 20-25 states are represented.” A graduate of Kansas State University, he developed an interest in real estate while in college. Later, he and his wife moved to Colorado in 1974. “We just decide that was the place we wanted to live,” Kendall said of moving to Ft. Collins. However, moving during a recession to a new state where he did not know anyone presented unique challenges that might have sent less determined individuals back home to Kansas. He had no database of prospective clients, continued on next page

no prior real estate experience.

and move from transaction to transaction. If you’re just transaction oriented, what I have observed is that people ultimately burn out.”

“That was a pretty big challenge and it took me a couple of years to get going.”

Kendall cites a study that analyzed over ten years the topproducing real estate agents who had a gross commission income of $250,000 or more per year. At the study’s conclusion, the researchers found that 75 percent of those agents were either out of the business or were making less money.

Kendall jokes that he got into real estate until he could get a “real job,” but then came to quickly realize that he loved it so much he wanted it to be his life’s work. “There were times I wondered if this was the right choice. But the more I did it, the more I loved it.”

“They had burned out. Burnout is something that’s fairly common if you’re just going from lead to lead.”

Although it was difficult to become established in those early years, Kendall attributes being in an environment that fostered success. He attended weekly meetings with fellow agents on Tuesday mornings over breakfast. In those pre-internet days, the MLS listings were in printed books and every agent would pore over the new listings and talk business.

He believes REALTORS® need to build a smart business that is sustainable and focuses on the relationships and will not lead to burnouts. For example, Kendall cited a Harris Interactive poll that found every American knows four people who will move this year. He said agents should be focused on those individuals.

“I looked around the room and saw some of the most successful people in our business. I said to myself ‘If they can do this, I can do it.' They were really the inspiration for me to keep going,” he said.

“If you build a relationship with your friends and your clients and access those four referrals, that’s a lot easier way to do business than to be chasing leads or strangers, buying leads or doing any of the crazy stuff I see in the industry. Just take good care of your people and your relationships. Access and earn those referrals.”

In his years of involvement in the real estate industry, he has identified several qualities that are inherent in the most successful agents. At the top of the list is motivation.

He finds the second attribute successful agents have is the ability to focus on relationship building rather than just racking up transactions.

During a low-inventory market like Colorado has been experiencing, he said agents must have a special skillset, especially when it comes to finding homeowners wanting to sell. Agents must go out and find the inventory. Having cultivated relationships with friends and clients, agents will know about life events that would cause a homeowner to sell, such as a divorce, retirement, or birth of a child.

“It’s easy in this industry to focus on the transaction

“Those life events are what propels a lot of the activity,”

“There’s some rocket fuel that gets them [the agents] up in the morning. The people I notice who are very successful have a strong work ethic,” he said.

continued on next page

he said. “If you’ve built those relationships and the communication is good, then you’ll be good there.”

A key component of Kendall’s Ninja Selling system are the Ninja Nine, which include the Five Daily Habits and the Four Weekly Habits. He believes a key for an agent’s success. They are:

He also suggests agents identify out-of-town owners in a specific neighborhood who might be willing to sell a house they don’t live in.

FIVE DAILY HABITS

“Many times what we find is that once a upon a time there were people who lived there and moved. And for whatever reason they were not able to sell the house at the time. So, they rent the place, but don’t want to be a long-distance owner.”

• Gratitudes and affirmations. • Write two personal notes. • Show up. Stay on your agenda.

When it came to the topic of iBuyers, Kendall remarked that he didn’t find it as new as everyone else does. The Group has been offering a “guaranteed sale” program since the company was founded in 1976 and iBuyers are essentially offering a modern, online version of that. He thinks iBuyers could hold a similar percentage of the market that For Sale By Owner does, about eight to ten percent.

• Focus on your Hot List. • Focus on your Warm List.

FOUR WEEKLY HABITS • Customer service calls. • Two live real estate reviews

Agents should not be intimidated by iBuyers, but they should embrace it. Agents should ask potential clients if they have considered using an iBuyer to set the stage for transparency.

• 50 live interviews. • Update your database.

“You better have done a little research. Know what the iBuyer price for that house is and know the Zillow Zestimate. Be prepared that the seller has checked all these platforms and knows what their options are,” Kendall said. “Your job is to see if you can help them have a better outcome. Can you do better than they can do on their own or with an iBuyer. If you’re a savvy REALTOR® who has some skills, then in almost every case you’ll be able to.”

“Those five daily habits are the most important,” he said. He shared an anecdote of how effective those Daily and Weekly Habits are to successful agents. He recently moderated a panel discussion with four top real estate producers in four different markets who had all gone through the Ninja Selling course. “My last question was what was the one thing you learned from the Ninja course. All four, much to my surprise, said the Five Daily Habits,” Kendall recounted. “One woman, who was a top producer of $80 million, said ‘When I do those five daily habits and I get my day started right, I have a great day. If I do that consistently then I string great days together. My great weeks turn into great months.’”

YOUR BUSINESS

CHANGING MARKET: ARE YOU PREPARED TO MAKE A SHIFT? By Gary Keller, founder of Keller Williams 1. Wake Up and Pay Attention

Make no mistake, we’re in a shift. It’s a different one than we’ve ever seen before. Its cause in and of itself warrants caution. The health challenge is very real. It must be respected, and we must take all necessary actions to keep each other safe.

Make no mistake where we are. Don’t let how you feel about this situation dictate what you do about it. When you’re dealing with less, you must do more. This isn’t a choice—it’s imperative. Although it sounds trite, what is still true is that tough times call for tough-minded people. In normal times, rising tides keep all boats afloat. When tides recede, only boats that respond appropriately stay in the game. All others are grounded.

The economic effect of this challenge is both uniquely real and surprisingly familiar. It’s called an economic shift. This isn’t the first one, and it certainly won’t be the last. Shift happens. And when it does, you must shift with it. You need to pivot quickly. If you don’t take action, you’re turning your business into a game of chance. And there’s no reason to do that. The actions are simple and highly effective. They’ve been time-tested and proven. You need to pivot. You need to pivot today.

In 1979, musical artist Kenny Loggins’ father was sick and facing uncertain odds. Unwilling to allow his father to slip into complacency, Kenny wrote these heartfelt words to his father, in his famous song “This Is It”:

THIS IS IT There’ve been times in my life I’ve been wondering why Still, somehow I believed we’d always survive Now, I’m not so sure you’re waiting to hear One good reason to try But what more can I say What’s left to provide You think that maybe it’s over Only if you want it to be Are you gonna wait for a sign, your miracle Stand up and fight... This is it Make no mistake where you are... This is it Your back’s to the corner... This is it Don’t be a fool anymore... This is it

So what do you do? In 2009, Jay, Dave, and I wrote a book called SHIFT. It was written on the heels of what turned out to be the Great Recession, one of the most harrowing financial periods in American history. And, we came through it. We survived. And then, we thrived because we shifted. What SHIFT teaches us is as relevant today as it was then. And hopefully, you will pick it up and read it. The prescription that we layout in the book proved to be not only accurate but when taken seriously and implemented, highly effective. As a way of re-introducing you to what we wrote, Jay and I sat down and put these thoughts together for you. It’s time to pivot.

it did yesterday. This is why you double down. Think of it this way: The number of people out there you can do business with is never zero. There are still people who need you; you’ll just have to work twice as hard to find them. Even in 2011, the worst year of the Great Recession, the number of sides per agent was nearly the same as in 2019. There’s still a lot of opportunities. There’s just less, so you must pivot and get more. Dust off your lead generation options. Choose the ones that make the most sense. Time block a minimum of four hours a day for lead generation. And never stop. Kenny wrote this song to his father as a way of saying, “Your situation is real. And you need to get up and get after it.” Today, we all face a similar moment. We need to pivot and meet our new reality. 2. Learn to Live on Less There’s an old saying, “A penny saved is a penny earned.” This applies to dollars too. When a shift happens, it pays to understand that the first dollar you make is the dollar you don’t spend. The way you do this is to lower your expenses. The real power of this pivot is realizing that reducing your expenses is not a one-time event. Cut expenses every month for the rest of the year. Make it a game. And don’t forget to acknowledge and reward those who help. Review everything. Review every line every month. And don’t stop until January 2021. You’ll be amazed at what you would have missed each time. You’ll often be encouraged by how once you cut something, the next month, you’ll discover that you can cut even more. Please remember, financial pivoting isn’t just a business concept—it’s a personal one too. It doesn’t help to lower your business expenses if you don’t keep your personal expenses in check. Why save one dollar when you can save two. Learn to live on less. 3. Double Down on Leads Dig into your goals and determine how many leads you’re going to need to achieve them. It is an absolute certainty that it will take more leads to accomplish your sales goals today than

4. Lean into the Market of the Moment To succeed in a market, you must understand it. No two markets are the same, which means a solution for one won’t necessarily work in another. Take a step back, look around, and identify the opportunities your market today has to offer. Every market will explain how you can best work in it and how people can best make it work for them. Whether it’s the type of property, the price of the property, the financing of the property, the type of seller, or the type of buyer, each market always has its unique combination to unlock. When you’ve talked to enough people, you’ll understand what your market has taken away and, more importantly, what it still has to give. The market will show you where you need to pivot. Every shift leaves an opening—a reason to stay in the market. Every problem eventually presents a solution—a way to help someone when they need it most. Today isn’t yesterday, and tomorrow isn’t determined. When the desire to do more comes from a place that’s bigger than ourselves, anything is possible. Potential can become a reality. When we pivot, we help others pivot, and together we all have the opportunity to achieve more. Gary Keller is the founder of Keller Williams International Real Estate. This article originally appeared in the May 2020 issue of the REAL Trends Newsletter is reprinted with the permission of REAL Trends, Inc. Copyright 2020.

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CALL 888.995.4945 EMAIL CO-REALTORS@RedirectHealth.com ENROLL www.ColoradoREALTORS.com/Healthcare *Medical Cost Sharing is not insurance and is not issued or offered by an insurance company. While every effort is made to meet member’s medical needs, Medical Cost Sharing does not guarantee payment of any medical expense. © Copyright Redirect Health® 2020. All Rights Reserved. ASN2038 Colorado Realtors E-Ad 0420

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What's New in Healthcare for Colorado REALTORS®? In April 2020 CAR brought new benefits to members to address medical expenses with two different approaches with the goal of having an option that meets the needs of as many REALTORS® as possible. HEALTH INSURANCE Now available through the CAR Marketplace in partnership with Alpine Association Benefits are individual health insurance plans. These insurance plans are the same as through the Connect for Health Colorado, but you have access to an experienced health insurance broker (Rita Lenz) to walk you through the various plans to help you determine the best plan for you at no additional cost. By enrolling in plans through CAR, you are supporting CAR’s efforts in making healthcare options available and you will be first to know when Association Health Plans (AHPs) become available in Colorado for discounts that would otherwise not be available to individuals. For individuals who have potentially expensive health conditions, this is generally the best way to address healthcare. Health insurance has an annual open enrollment window of November 1st to December 15th or if you experience a Qualifying Life Change Event.

Medical Cost Sharing Since June of 2019, CAR has made a unique alternative to health insurance available by utilizing the Sedera Medical Cost Sharing Community. Through Sedera’s Medical Cost Sharing model, Members save between 30 – 50% of the costs that are typically incurred with health insurance plans. Many REALTORS® have already found this option to be a great way to address their healthcare expenses, but please note that this option may not be the right fit for everyone as there are some temporary limitations on funds used to address pre-existing conditions. In April 2020, a new approach was launched that paired Sedera with Redirect Health to round out benefits for a more comprehensive solution. By pairing Redirect Health with Sedera you get access to 24/7 Virtual Direct Primary Care to address the smaller, preventative health issues without having to schedule an office appointment. It also includes prescription, vision and dental discount plans. This option also accepts monthly enrollment; to have an effective date of the 1st of any month, you must enroll by the 19th of the previous month. We strongly encourage anyone interested in this option to join an upcoming webinar to learn more. There will be a state-wide zoom meeting held on Friday, May 15th at 10:00am. Click here to add to your calendar.

Important note: If you are currently a member enrolled in Apex and Sedera, please contact Alpine Association Benefits for more information on the differences. Also, if you would like to switch plans please contact us, as it is not automatic and must be specifically requested. ALPINE ASSOCIATION BENEFITS (P) 720-523-5524 (E) Info@alpineassociationbenefits.com Visit Our site for information on options available for Colorado Realtors www. AlpineAssociationBenefits.com Warning: Sedera, Inc. Is not an insurance company and the sedera medical cost sharing membership is not issued or offered by an insurance company. Whether a sponsoring entity chooses to send monetary assistance to you and/or your family to help with your medical expenses will be totally voluntary and neither you nor sedera, inc. Has any right to compel payment of medical cost sharing costs from any member. The Sedera membership is not and should never be considered to be or to be like a group insurance policy or an individual insurance policy. Whether you receive any money for medical expenses, or whether or not this membership continues to operate, you as the member will always remain liable for your unpaid medical expenses and do not have any legal right to seek reimbursement or indemnification for any such expenses from Sedera, Inc. Or any other member or sponsoring entity. This is not a legally binding agreement to reimburse or indemnify you for the medical expenses you incur, but is an opportunity for you to assist other members in need, and when you are in need, to present your medical bills to other members and sponsoring entities as outlined in these guidelines. The financial assistance you may receive will come from other members and/or sponsoring entities, and not from Sedera, Inc.

HOW TO WORK HEALTHIER A desk job doesn't have to be a literal pain in the neck

By Rachel Sellers, American Furniture Warehouse

Whether working in an office or from home, a poorly set-up workspace can lead to back aches, a stiff neck, and eyes that feel like the Sahara Desert by the end of the day. If this describes you, it's time to brush up on your office ergonomics so that you're working healthier.

According to the OSHA Good Working Positions guide and The Mayo Clinic, an ergonomic sitting position has a few key factors: • The spine is relatively vertical, with the head and neck in line with each other. You aren't leaning forward or craning your neck. • The elbows and legs are both at about 90° angles, with the forearms and thighs horizontal.

Ergonomics is an applied science concerned with designing and arranging things to fit the human body so that people can work in a healthy, comfortable, and efficient manner. An ergonomic workspace can help prevent repetitive strain injuries that are associated with working long hours at a desk, like carpal tunnel syndrome and tendonitis.

• The hands are at or below the level of the elbows and the wrists are straight. • The feet are flat on the floor. If the desk is too high for this, the feet are on a footrest. The guidelines for keeping a neutral body position are almost exactly the same for working while standing. The main difference is that the legs, torso, neck, and head should be kept more or less in-line and vertical.

Create an Ergonomic Workspace The goal in creating an ergonomic workspace is to arrange everything so that the body is in a neutral position. According to the Occupational Safety and Health Administration (OSHA), a neutral body position "is a comfortable working posture in which your joints are naturally aligned. Working with the body in a neutral position reduces stress and strain on the muscles, tendons, and skeletal system and reduces your risk of developing a musculoskeletal disorder.”

Aside from sitting or standing in a neutral position, how things are arranged on a desk also contributes to how ergonomic a workspace is. An improperly positioned monitor or keyboard could be a major contributor to neck, arm, and wrist pain. • The monitor should be 18-24" (about arm's length) away and at or slightly below eye level. • The keyboard and mouse should be close together and at the right height and distance so that the arms can be kept in the correct position. If it’s not possible to maintain the proper position with the keyboard on the desk, consider using a keyboard tray. • Frequently used items should be close enough to access easily without reaching, things used occasionally should be within reach, and things that are not used very often should be out of the way. While these guidelines may sound complicated, it’s fairly simple to arrange a desk and a standard office chair to support a neutral body position. Look for a chair with at least an adjustable seat height (standard on most office chairs), then look for features like an adjustable back or armrests that allow finetuning the chair for maximum ergonomic comfort. Working healthier by creating an ergonomic workspace will keep you working focused and pain-free. Rachel Sellers is a Content Writer for American Furniture Warehouse, one of the nation’s top furniture retailers with a large selection of affordable furniture and home decor.

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^Available In-Store Only | While Supplies Last Every effort has been made to produce this flyer without error. Should any error occur, we reserve the right to correct it by displaying corrections in all stores. All items are subject to availability, while supplies last. Merchandise shown may not be available in all stores, see an associate for details.

The Colorado Young Professionals Network is an opportunity for real estate professionals across the state to enjoy social events, educational sessions, and local volunteer days. We encourage you to attend one of the many YPN events across the state!

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Our Values • We value Education to remain mindful and knowledgeable. • We Embrace all members, whether they are young in age or young at heart. • We Cultivate Leaders who will influence tomorrow. • We Support our local communities because we are empowered by their companionship.

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C Y P N We Are The Colorado Young Professionals Network! 34

You can make a difference any day! Donate at www.CARFoundation.org.

CAR Foundation Mobilizes to Help Local Communities Throughout Colorado By Stacey Brown, Executive Director of CAR Charities

The COVID-19 pandemic is creating many changes within the CAR Foundation. The biggest of these changes is postponing the annual fundraiser scheduled for August until June 24, 2021. Please save the date so you can join the celebration!

The Foundation understands there will be unprecedented need in our communities for the foreseeable future, and the decision was made to open a second grant cycle from July 13, 2020 to August 31, 2020. An additional $100,000 will be invested by September 15, 2020. Please contact Stacey and go to the Foundation website for more information.

To combat the current crisis, the Foundation will be investing $350,000 statewide in 2020!

Did you know last year the Escrow Interest Program generated over $180,000? Now is the time to join the Escrow Interest Program! It is easy to do! Contact Stacey to join this program that effortlessly provides so much!

Hereâ&#x20AC;&#x2122;s how: The current grant cycle is open until June 1, 2020. The Foundation will be investing $125,000 in our communities statewide to provide safe and affordable housing. If you know of nonprofits in your communities that are providing these services, please encourage them to apply today! Grant Guidelines and Acceptance Conditions can be found on the CAR Foundation website at www.carfoundation.org. contact Stacey Brown at sbrown@coloradorealtors.com or 303-7857126 with questions and for submissions.

Finally, for those who would like to help the Foundation continue its mission helping our neighbors in need, please consider donating. Itâ&#x20AC;&#x2122;s quick and easy. Just go online to make a donation through PayPal. If you give $100 or more, we will send you a Foundation Heart pin! Thank you to everyone who has supported the Foundation in the past. It really means a lot.

Also, the Foundation is releasing $125,000 from the Disaster Relief Fund to be distributed throughout the state. The Disaster Relief Grant Committee has been formed and is in the process of reviewing nonprofits to partner with statewide. Funds will be announced and distributed by the end of May.

RECOVERY FROM THE HOUSING RECESSION By Steve Murray, President of REAL Trends

We all hear that the recovery from this one we are now in will be a “V” shaped recovery—a fast downward move followed by a quick, upward movement. We all pray that’s what will happen. I love this industry. It’s been my home for 44 years now. In my time, there have been three significant recessions and one minor one. While today’s market is unprecedented, the history of housing recessions tells us something different. For instance, the housing market peaked at nearly four million-unit sales in 1979 before crashing to 1.9 million in 1982, a 50% drop in two years. The next peak was in 1988 when the industry had 3.6 million closed unit sales. Notice we still didn’t get back to 4 million units even though the number of households climbed from around 80.8 million households to 91.1 million households in 1988. The trough came in 1991 at 3.1 million units sold and then climbed to 5.2 million in 1999—the next peak. After a small decline in 2000, the market for housing unit sales shot to 7 million in 2005. It then crashed to a trough of 4.1 million in 2008. Think about that: In 2008, the country experienced a nearly 50% increase in the number of households (116.7 million in 2008 vs. 80.8 million in 1980), yet, at the trough, we sold just above 100,000 more homes. We climbed out of the 2008 trough to achieve a peak of 5.5 million-unit sales in 2017 and have been slightly less than that in the last two years. As of 2019, we had 5.3 million housing unit sales—33% above the totals of 1979. Total households climbed over 55% in that same time frame. One other interesting fact: The industry hit four million-unit sales in 1979 and did not hit that number again until 1996— nearly 17 years later. The peak of 1999 at 5.2 million is only slightly exceeded by the peak of 2017 of 5.5 million-unit sales

—that’s in 18 years. One must excuse the burst of housing sales from 2003–2006 for the excess of mortgage laxness, which we are all too aware of today. I would love to think that this will be the first “V” housing recovery in the last 40 years (which didn’t have funny money mortgages involved). History indicates otherwise. Recessionary shocks to the entire economy typically unnerve consumers, especially when it comes to housing. The history of the last 40 years instructs us that recoveries are often drawn out over years, not months.

AN ANOMALY? I share this with some reluctance because it has far-reaching implications for every brokerage and agent in the country. I’m also reluctant because, of course, this could be the exception to the last 40 years of brokerage sales history. Why? • First, I recall the experience of living through 9/11 when housing sales in NYC and elsewhere shuddered for three to four months, then took off on a tear. • Second, it occurs to me that once the shock of the medical and employment waves have been incorporated into our thinking and our lives, a majority of Americans will want to get back to living. They’ll want to do all the things that we enjoy doing, whether that means going out for dinner, taking a trip to the beach, going to the movies, church, and sporting events—the things that give our lives meaning and enjoyment. In short, once this shock wave has passed, will Americans yearn to get back to a life that many enjoyed fully? We think this is true. And despite what the long-term track record of housing recoveries shows, this time will likely be different. After all, there are incredibly low-interest rates, and those with stable jobs may see this as an opportunity to grab a great house when others are on the sidelines.

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Enhance Your Cash Flow with the Stimulus Package, Banking Relationships, and Other Tax-Slashing Tactics Free Webinar Thursday, May 21, 2020 at 12:00 PM MST My team and I literally dropped everything to put together this emergency presentation to talk to you about the small business stimulus package and what it means to you as a selfemployed person… And I’ll also share some other tips to free up cash flow so you can get through some of these turbulent times. In this short 30-minute training program you’ll learn: • Exactly what the stimulus package means for self-employed people and small business owners like you... and how to manage this cash to keep your business healthy. • Why it’s more important than ever to ensure that you’re KEEPING as much of your hard-earned cash as possible...and why this shift in mindset could save your business during the economic downturn. • How you can qualify for unemployment even though you’re a 1099 contractor...and why this new groundbreaking benefit can save your business during a rough patch. • The 10 best resources you can use to tap into for “emergency cashflow”...and exactly when you should actually reach for this “life raft.” (Hint: If you’re too early or too late with the timing it could do more harm to your business than good.)

• How to get the federal government to pay you to work from home... and the exact steps you need to take to set up your home office....So that you qualify for the maximum deductions that you’re entitled to. • What secure lines of credit you may be able to access to float your business through a potential rough patch...and why it’s best not to wait to apply for these types of loans. • Discover ”insider tactics” that I learned during my time as an IRS tax attorney...Like how you can use the “Mortgage ATM Method” to help you access emergency cash... without taking out another loan or applying for another credit card. • How you can use the new resources approved by congress to help your small business...things like Cold Hard Cash, Forgivable SBA loans, and Tax Credits for self-employed

folks who can’t work because of current events affecting businesses coast-to-coast. • The proven strategies you can start using immediately to make the tax system work in your favor (like Amazon does)...even if you’ve always been afraid of claiming the deductions that you’re legally entitled to. • You’ll also get a link to gain access to a video library where I’ll show you how to save a ton of money on your taxes this year. Believe me, this year is going to be a particularly important year to lower your taxes – precisely because your income may be lower this year, so you’ll want to make sure you keep every dollar you’re legally entitled to. Cash is king.

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2020 CENSUS: REALTOR® PARTICIPATION IS KEY This year marks the 24th Census count since its inception in 1790. As mandated by the U.S. Constitution, the United States is required to count every person living, regardless of age, in the United States and five U.S. territories every 10 years. The data collected provides policymakers, business owners, school systems, and REALTORS®, with information that fuels economic prosperity across the country. Critical federal funding for hospitals, fire departments, schools, roads, and over 100 community programs and services are allocated based upon decennial Census results. Congressional representation and the determination of how congressional and state legislative districts are drawn are heavily influenced as well. It is estimated the 2020 Census will drive $1.5 trillion in federal funds that support essential public policy programs across the country.

development investments. Business owners can use Census data to identify where to open new businesses, restaurants, factories, expand operations, recruit talent, and determine which products and services to offer in various regions. For REALTORS®, participation in the Census allows the industry to forecast growth locally and nationally, evaluate consumer needs and housing demands, analyze migration trends to identify potential clientele, and determine areas of the state that are likely to be the most vulnerable in the event of natural disasters. REALTORS® can look to the economic impact data collected on new residential sales, new residential construction, rental vacancy rates, and homeownership rates to help drive their daily business operations and as a means to educate decision makers on state and regional housing affordability, housing patterns, and residential financing. So, it is important that REALTORS® lead the way and promote participation.

The collection of this data not only supports current growth and welfare of our communities, but also the economic vitality of our state through support of economic

Natural Disaster Preparedness, Response, and Relief When developing emergency response plans for a community, one of the first steps is knowing how many people live within each community and where. The Census Bureau has created a database to track and organize local data critical to emergency planning, preparedness, rescue coordination, and recovery efforts by each event as it occurs, such as California’s Paradise fire or the COVID-19 pandemic. In 2017, Cape Coral emergency response teams were able to use population maps derived from Census data to identify distribution points for supplies and locate areas to send wheelchair-accessible vans to pick up residents physically unable to get out on their own and away from Hurricane Irma’s devastating path. Participation in the 2020 Census will not only provide guidance for the allocation

of funding of federal disaster relief to Colorado, but also identify locations for new fire stations and hospitals needed in vulnerable communities with a high risk of being affected. Resulting in tools and resources that support the mission of Colorado Project Wildfire. Support for Housing Programs Census data is used to determine how funding for 316 federal spending programs is distributed to states, counties, cities, and households. Among these programs are the HOME Investment Partnerships Program and Section 8 Housing Assistance Payments Program, which offer rental or home buying assistance to lower-income Colorado families. According to a study by the George Washington University Institute of Public Policy, in 2016 alone, Colorado received over $708 million through federal housing assistance programs. Your response to the 2020 Census will help determine the amount of housing assistance funding Colorado receives annually, which could total more than $7 billion over the next 10 years. According to the Center on Budget and Policy Priorities, 124,600 individuals in 63,000 households across Colorado rely on these programs to help them secure and maintain affordable housing.

report found that only 50 percent of American families could afford to purchase a “modestly priced” home in the state where they lived and presented information on barriers to homeownership across the country. Quarterly reports on Colorado homeownership rates, rental and homeowner vacancies are available through the Census Bureau. The comprehensive housing data available through the Census Bureau allows REALTORS® to access information to help drive their business, better serve their clients, and understand the market. Having an accurate count in 2020 will ensure complete housing and economic data for Colorado. It is vital that we count all Coloradans in the 2020 Census. An undercount would mean inadequate representation in Congress and insufficient resources to serve our communities’ needs across Colorado. REALTORS® in their day-to-day interactions, play a key role as trusted advisors in the community. Together, we can spread the word on the importance of participating in the 2020 Census because REALTORS® make sure everyone counts!

In addition to these programs, Census data is used to determine each state’s Low Income Housing Tax Credit (LIHTC) allocation. The LIHTC credits are critical to new construction and/or rehabilitation of low-income rental housing through federal income tax incentives for investors. Between 2015 and 2018 alone LIHTC tax credits supported the construction of 4,796 affordable housing units resulting in $534 million in new private-sector investments. This led to a $1.9 billion economic impact and supported 11,920 jobs over a three-year period. Since 1987, the LIHTC program has supported the creation of 64,555 affordable housing units in Colorado. Colorado Housing and Finance Authority (CHFA) estimates LIHTC investments in Colorado resulted in an $11.1 billion impact and supported 50,968 Colorado jobs since the program was created. An accurate count means Colorado will receive the adequate LIHTC allocation leading to the production of more affordable housing units and the continued economic impact of these tax credits.

Completing Your 2020 Census Questionnaire: This process takes less than 10 minutes in one sitting. The information provided remains confidential as it is protected by strict federal law. You can respond in one of three ways before the August 14, 2020 deadline: 1. Online at my2020Census.gov 2. By Phone 3. By Mail Using a Paper Form Once you have completed your 2020 Census questionnaire, encourage others in your community to do the same. Remember, REALTOR® participation is key to ensure Colorado is counted and adequately represented for the next 10 years.

Census data is not just used to determine federal funding allocations, it is the foundational information the Census Bureau uses to provide economic impact analysis, including current housing data. The Census Bureau uses data collected to publish reports on a variety of economic topics. For example, 2010 Census data was used to produce an extensive publication outlining who could afford a home in 2009. This

HOW TO BE A PERSUASIVE COMMUNICATOR WHILE WORKING REMOTELY By Juliet Huck, Author of "The Equation of Persuasion"

Be a top negotiator even when you can’t speak to someone in person.

STICK TO THE BASICS Even through a remote connection, the basics of persuasion apply. It’s vital that you do your homework and learn about the decision maker. Just because you aren’t meeting face-to-face doesn’t mean that you can skip the groundwork you would regularly complete. What are your target’s demographics? Do they have any special interests? You’ll need to establish an even stronger bond to persuade via remote means, so flex your research talents and learn about your target.

As social distancing becomes the new normal throughout the US and the world, professionals across industries are making drastic and immediate changes to their work and presentation styles. With the quick shift to working from home, business leaders, lawyers and sales and marketing teams are navigating new terrain—figuring out how to effectively communicate in a way that will achieve a desired outcome while working remotely.

You should also continue to find their needs and pain points. Learning this information will help you demonstrate to your decision maker that you understand their goals, even if you can’t see them in person. Establishing a strong sense of understanding will help you build trust and allow you to position yourself as an advisor. This trust will be critical for remote persuasion.

There’s nothing quite like the energy and connection that a face-to-face interaction can create, but we have to try to work with what we’ve got. With that being said, just because we’re in a period of social distancing doesn’t mean that work and persuasion come to a halt. Remote work was a rising trend before the COVID-19 pandemic, with regular work-at-home growing 173 percent since 2005. With so many additional businesses moving to a work-athome structure, it’s safe to assume that broader long-term adoption will become even more prevalent over the coming years. It’s a good idea for professionals to start learning now how to connect remotely to stay ahead of the curve. Here are a few tools and tactics that will help you become a successful and persuasive communicator via a remote connection.

LEVERAGE TECHNOLOGY Although working from home can create another level of separation from your target, technology has progressed leaps and bounds when it comes to inter-personal communication. Tools such as Zoom, and Skype for Business allow your audience to see your face. You should leverage your entire technology suite to help you persuade remotely. Visuals must lead your decision maker to your desired conclusion. Create polished presentations to either show via conference call or email ahead of your meeting. When you might not regularly do this when meeting face-to-face, you

may consider incorporating a video presentation as well. Video can be a terrific way to establish an emotional connection with your decision maker, providing for a unique story telling opportunity complete with visual and musical cues. Nearly 90 percent of professionals indicated that a strong narrative was critical in maintaining their attention. Engagement with your story is more important than ever, as you’ll be competing with additional distractions including family and pets.

How about an old school, handwritten thank you note sent to their home? During a time when personal connection is minimized, it might be an opportunity to brighten your customer’s day and build trust. Just make sure you send to the correct address. If they’re also working from home, a note to the office will get lost in the shuffle.

PRACTICE AND DEVELOP A STYLE

While many professionals are used to persuading through face-to-face interactions, the current climate calls for a new tactic. Just because you can’t meet in person with your decision makers doesn’t mean that you can’t still do your job. Learning to effectively persuade via remote connection is possible, and by following the basic principles of persuasion, leveraging your technology suite, setting time to practice and developing ways to be memorable, you still have a strong chance at leading your decision maker to the desired outcome. While remote persuasion may take a bit more effort and preparation, you can get the results you seek if you take the time and keep these guidelines in mind.

PERSUADE FROM A DISTANCE

Personal energy exchange is very difficult via a computer screen. You must determine who you are as a presenter in this new medium. How can you be more dynamic through remote connection? Before jumping on a conference call, practice on your computer by recording yourself and playing it back to see how you present on camera. Think this is taking it too far? Consider the first time you had to leave a professional voicemail and were put on the spot to communicate your needs in a brief message. It took time to sharpen those skills and you’re probably a pro now! The same is true for online presentations. It might take a few rounds to get comfortable, but at this point in your career there’s no time to fumble. “Practice makes perfect!”

Juliet Huck: Author of “The Equation of Persuasion” and founder of the Academy of Persuasion e-learning series, Huck has blazed a trail in the uncharted territory of Persuasive Communications for 25 years. She has been retained by some of the nation’s most prestigious organizations, corporations and law firms and has assisted in moving billion-dollar projects forward, securing billions of dollars in decisions through her proven process. This article originally appeared in the May 2020 issue of the REAL Trends Newsletter is reprinted with the permission of REAL Trends, Inc. Copyright 2020.

BE MEMORABLE Would you do a face-to-face meeting and not follow up? Absolutely not! You would always follow up with your decision maker and you need to continue that with a remote connection. Think about ways you can stand out in the crowd.

RPAC MAJOR INVESTOR SPOTLIGHT:

for projects that serve the workforce housing niche and often offer a below market rate housing stock. There’s not a lot of competition in that sector, and I’m able to serve the public by delivering a quality product at a price our workforce can afford.

John Lucero, Lucero Development Services and Owner of iMPAX Real Estate Group

Who are you outside of your real estate career? Outside of the real estate world I’m an avid gardener. In fact, I’ve earned a Master Gardener certification over the years. I grow enough food for myself and my neighbors that we very rarely have to rely on other sources for fresh produce. I also love to cook and I love to travel, two things that often go hand in hand. I recently took a Master Chef class in Florence, Italy and learned more in that class than I ever expected about food, about people, and about flavors. I love to break bread and drink wine with people from other countries and other cultures. It’s how you learn about people and how you really get to know someone.

John has been a REALTOR® in the Denver community for over 25 years and is deeply rooted in the community. Known as an advocate for fair housing for all, John has served on countless public and REALTOR® Association groups working tirelessly to make sure that the opportunity and availability of good housing choices exists for all. John serves as a Federal Political Coordinator for U.S. Sen. Michael Bennett and serves as a Key Contact for numerous state elected officials for CAR. He often provides expert testimony to legislative committees on topics such as water rights, workforce housing, development projects, and private property rights.

What does RPAC mean to you? I’ve been involved in the legislative process and public policy for not only my entire career but also most of my adult life. Having sat on numerous government affairs committees at the local, state, and national levels, I’ve learned with absolute certainty that you have to put your money where your mouth is. And by that I mean it is important to be fully vested in the causes you most care about. You can’t just pay lip service to something if it’s truly important to you. Housing and real estate is truly important to me, and RPAC is committed to making sure that real estate interests are protected. To get good policy, you must elect the right people. RPAC is very effective in working towards that goal.

Who are you in your professional life? I have been a REALTOR® of over 25 years in Denver who specializes in workforce housing and fair housing for all. My parents were a bi-racial couple, and when they first tried to buy a home they experienced redlining. It stuck with my mother for years, and that has always motivated me to work hard to find housing solutions for everyone. Then, growing up and maturing in the 60s and the 70s, I always embraced the notion that it takes a real fight to change unjust things. I’ve always been attracted to that fight.

What message would you like to give to other REALTORS® about why they should contribute to RPAC? I believe that contributing to RPAC is critical to being able to make a difference in our industry. We can’t let other people do the heavy lifting for us. We must make our mark if we want to truly matter. And one of the best things about being a REALTOR® is that we can make our mark in a variety of ways – we protect property rights, we protect water rights, we advocate for infrastructure, we build communities, and we help people find homes. We have to have a voice in this world and RPAC is the very foundation of our voice. Contributing to RPAC is the best thing we can do to strengthen our voice.

My very first closing was a month after I got my license. I helped a family get out of public housing and directly into home ownership. Through the years, I’ve been able to assist their kids and even their grandkids with buying homes. I take great professional satisfaction out of that My family has been blue collar for generations and we all worked hard for what we’ve earned. Because of this, I love to specialize in Affordable Workforce Housing. On the development side of my business, I’m frequently searching

Major Investors invest at least $1,000 in RPAC annually. For more information click here. 42

Updated April 20,2020

Colorado Association of REALTORS® RPAC MAJOR INVESTORS 2020

Updated March 6, 2017

NAR Presidents Circle

($1000 min. to RPAC and $2000 to national political parties or NAR-selected federal candidates)

Tyrone Adams, Colorado Association of REALTORS® David J. Barber, Aurora Association of REALTORS® Gary Bauer, Denver Metro Association of REALTORS® Brandon Brennick, Denver Metro Assoc. of REALTORS® Michael Burkhard, Grand Junction Area REALTOR® Assoc. Dale Carroll, South Metro Denver REALTOR® Assoc. Joe DiVito, Denver Metro Association of REALTORS® Amy Dorsey, Vail Board of REALTORS® George Harvey, Telluride Association of REALTORS® Ann Hayes, Grand Junction Area REALTOR® Assoc. Janene Johnson, Grand County Board of REALTORS® Jay Kalinski, Boulder Area REALTOR® Association

Keith Kanemoto, Longmont Assoc. of REALTORS® Piper Knoll, Denver Metro Association of REALTORS® Michael Labout, Pikes Peak Assoc. of REALTORS® John Lucero, Denver Metro Association of REALTORS® Scott Matthias, South Metro Denver REALTOR® Assoc. Chris McElroy, Fort Collins Board of REALTORS® Larry McGee, South Metro Denver REALTOR® Assoc. Ron Myles, Denver Metro Commercial Assoc of REALTORS® Marcel Savoie, South Metro Denver REALTOR® Assoc. Todd Schuster, South Metro Denver REALTOR® Assoc. Bonnie Smith, Summit Association of REALTORS® Linda Romer Todd, Grand Junction Area REALTOR® Assoc. Kay Watson, South Metro Denver REALTOR® Assoc.

NAR Corporate Ally Program

(Multiple Listing Services voluntarily investing in RPAC) IRES Pikes Peak REALTOR® Service Corp

Pikes Peak REALTOR® Service Corp REcolorado Platinum R - Annual Investment of $10,000+ Pikes Peak REALTOR® Service Corp REcolorado Gary Bauer, Denver Metro Association of REALTORS® Linda Romer Todd, Grand Junction Area REALTOR® Association Pikes Peak REALTOR® Service Corp REcolorado Boulder Area REALTOR® Association Pikes Peak REALTOR® Service Corp Colorado Association of REALTORS® REcolorado

Golden R - Annual Investment of $5,000+ David Barber, Aurora Association of REALTORS® Amy Dorsey, Vail Board of REALTORS® George Harvey, Telluride Association of REALTORS® Keith Kanemoto, Longmont Association of REALTORS® Michael Labout, Pikes Peak Association of REALTORS® John Lucero, Denver Metro Association of REALTORS®

Michael Marcus, South Metro Denver REALTOR® Assoc. Scott Matthias, South Metro Denver REALTOR® Assoc. Chris McElroy, Fort Collins Board of REALTORS® Ron Myles, Denver Metro Comm. Assoc. of REALTORS® Bonnie Smith, Summit Association of REALTORS® Kay Watson, South Metro Denver REALTOR® Association

Crystal R - Annual Investment of $2,500+ Karen Frisone, Denver Metro Association of REALTORS® Heather Hankins, South Metro Denver REALTOR® Association John Mitchell, Aurora Association of REALTORS® Robert Walkowicz, Loveland-Berthoud Association of REALTORS®

Sterling R ~ Annual Investment of $1,000+

Updated April 20, 2020

Updated March 6, 2017 Mike Papantonakis, Denver Metro Assoc. of REALTORS® Al Parker, Denver Metro Assoc. of REALTORS® Elizabeth Peetz, Colorado Association of REALTORS® Karen Peirson, Aspen Board of REALTORS® Scott Peterson, Colorado Association of REALTORS® Linda Philpott, Aurora Association of REALTORS® Hank Poburka, Pikes Peak Association of REALTORS® Anna Rickenbach, Grand Junction Area REALTOR® Assoc. Gretchen Rosenberg, Denver Metro Assoc. of REALTORS® Crissy Rumford, Vail Board of REALTORS® Ulrich Salzgeber, Steamboat Springs Board of REALTORS® Marcel Savoie, South Metro Denver REALTOR® Assoc Laura Sellards, Vail Board of REALTORS® Christine Serwe, Durango Area Association of REALTORS® John Simmons, Loveland-Berthoud Association of REALTORS® Richard Sly, South Metro Denver REALTOR® Assoc Lynn Snyder Goetz, South Metro Denver REALTOR® Assoc LaDawn Sperling, Denver Metro Assoc. of REALTORS® Steven Thayer, Denver Metro Assoc. of REALTORS® Mark Trenka, Denver Metro Assoc. of REALTORS® Steve Volkodav, Pikes Peak Association of REALTORS® Robert Werthman, Pikes Peak Association of REALTORS® Debra Yund, REALTORS® of Central Colorado Greg Zadel, Denver Metro Assoc. of REALTORS® Sandi Zimmerman, Denver Metro Assoc. of REALTORS® South Metro Denver REALTOR® Association

Tyrone Adams, Colorado Association of REALTORS® David Anderson, Pueblo Association of REALTORS® Brian Anzur, South Metro Denver REALTOR® Assoc Barbara Asbury, Pikes Peak Association of REALTORS® Piyush Ashra, Aurora Association of REALTORS® Richie Averill, Denver Metro Assoc. of REALTORS® Ann Bagwell, Aurora Association of REALTORS® Windy Bailey, Pikes Peak Association of REALTORS® Rebecca Balboni, Durango Area Association of REALTORS® Sunny Banka, Aurora Association of REALTORS® Karen Becker, Aurora Association of REALTORS® Bruce Betts, Pikes Peak Association of REALTORS® Nick Bokone, South Metro Denver REALTOR® Assoc Michael Burkhard, Grand Junction Area REALTOR® Assoc. Randy Case, Pikes Peak Association of REALTORS® Kathy Christina, Summit Association of REALTORS® David DeElena, Aurora Association of REALTORS® Molly Eldridge, Gunnison Country Assoc. of REALTORS® Amanda Fein, Denver Metro Assoc. of REALTORS® Angela Fox, Denver Metro Assoc. of REALTORS® Danielle Frisbie, Pikes Peak Association of REALTORS® Bob Fullerton, Glenwood Springs Association of REALTORS® Marjorie Genova, Grand Junction Area REALTOR® Assoc. Micah George, Grand Junction Area REALTOR® Assoc. Heidi Greer, Denver Metro Assoc. of REALTORS® Sheri Griego, Grand Junction Area REALTOR® Assoc. Lauren Hansen, Colorado Association of REALTORS® Tina Harbin, Grand Junction Area REALTOR® Assoc. Steve Harder, South Metro Denver REALTOR® Assoc. Ed Hardey, Aurora Association of REALTORS® Chris Hardy, Fort Collins Board of REALTORS® Debi Harmon, Montrose Association of REALTORS® Tyler Harris, Grand Junction Area REALTOR® Assoc. Ann Hayes, Grand Junction Area REALTOR® Assoc. Toni Heiden, Grand Junction Area REALTOR® Assoc. Susan Hendricks, Grand Junction Area REALTOR® Assoc. Mary Ann Hinrichsen, South Metro Denver REALTOR® Assoc Deborah Howes, Pikes Peak Association of REALTORS® Janene Johnson, Grand County Board of REALTORS® Jay Kalinski, Boulder Area REALTOR® Association Kelly Kniffin, Durango Area Association of REALTORS® Justin Knoll, Denver Metro Assoc. of REALTORS® Piper Knoll, Denver Metro Assoc. of REALTORS® Pie Konchar, South Metro Denver REALTOR® Assoc Cynthia Kruse, Vail Board of REALTORS® Kevin Kuebert, Vail Board of REALTORS® Betsy Laughlin, Vail Board of REALTORS® Karen Levine, Denver Metro Assoc. of REALTORS® Cheri Long, Aurora Association of REALTORS® Russ Loya, Fort Collins Board of REALTORS® Kevan Lyons, REALTORS® of Central Colorado David Madone, Royal Gorge Association of REALTORS® Donna Major, Pikes Peak Association of REALTORS® Melissa Maldonado, South Metro Denver REALTOR® Assoc. Tammy Marasia, Denver Metro Comm. Assoc. of REALTORS® Stew Meagher, South Metro Denver REALTOR® Assoc. Kelly Moye, Boulder Area REALTOR® Association Mitch Myers, Aurora Association of REALTORS® George Nehme, Pikes Peak Assoc. of REALTORS® Rebecca Nehme, Pikes Peak Assoc. of REALTORS® Chad Ochsner, Denver Metro Assoc. of REALTORS®

Colorado REALTOR Magazine May 2020

Articles inside

RPAC Major Investor Spotlight

RPAC Major Investors

How to be a Persuasive Communicator While Working Remotely

Free Tax Webinar

Recovery from the Housing Recession

CAR Foundation Mobilizes to Help Local Communities Throughout Colorado

CYPN Benefits

How to Work Healthier

Changing Market: Are You Prepared to Make a Shift?

No Signs of Slowing Down

Market Trends Report

Wake of COVID-19

What's New in Healthcare for Colorado REALTORS®?

What Will Your Business Look Like in the Aftermath?

Eight Tips You Can Use Right Now