Issue 32 - March/April 2019 by Las Vegas Agent Magazine

March / April 2019

ALSO INSIDE

LAS VEGAS NV CHAPTER

Jim Brooks

Ray Long

Carpet Soiling... what is it?

Created Exclusively for the Las Vegas Real Estate Professional Kevin Cole

The Science of Persuasion Publisher

COntents March/April 2019

Rob Bolick

Selling Property in Probate

Melodie C. Miller Publisher@LVAgentMagazine.com

Mike Klimek Copy editor Debbie Flessner

Holey Carpet? Patch It Up!

Jan O’Brien

Four MustHave Tools for Real Estate Professionals

Ceditor@LVAgentMagazine.com

GRAPHIC DESIGN

Gloria Petersen

Sho Labaco

Cross Mentoring Wisdom

Art@LVAgentMagazine.com

Brent Wood

Getting your Clients off the Fence

Photography Connie Palen Photos@LVAgentMagazine.com

For more information Please email publisher@lvagentmagazine.com or call 702-530-5033 L a s Ve g a s A g e n t M a g a z i n e i s distributed bi-monthly, via U.S. Mail to Realtors ® in the Las Vegas Valley. We welcome reader correspondence and are always looking for the best possible content to offer our subscribers. Please send all comments, suggestions and inquiries to Publisher@LVAgentMagazine.com Las Vegas Agent Magazine assumes no responsibility for, or endorses the thoughts expressed or advertised. No portion of Las Vegas Agent Magazine may be reproduced without the written permission of the Publisher. All rights reserved.

Jim Brooks eXp The Brooks Team

19 News

20 Housing Stats

22 News

Cover photo by: David Blake

To view all past issues online, please visit

LAS VEGAS NV CHAPTER

23 News

Carpet Soiling...

what is it? By: R a y L o n g

he definition of carpet soil is anything foreign to the construction of the carpet.

“Apparent Soil”...is often caused from other factors than wear and abrasion. Light sources such as track and spotlights, natural light from outside sources or shadowing can make the appearance of spots, stains, soiling or color loss. As mentioned in previous issue soil can abrade or scratch the carpet fibers causing a different appearance as the light is reflected back to our eyes. The carpet may be clean but still, appear dirty. Professionals refer to this as “traffic lane grey.” “Real Soil”...As the term suggests, real soil is the actual foreign matter that causes a change in appearance or damage to carpet fibers and surfaces. The makeup of these soils will determine what course of action is needed to remove the contaminant effectively. They are basically broken down into three basic categories which are: Solvent Soluble Soils are types of soils that are natural or synthetic oil-based products such as greases, oils, tars, and some paints and makeup. Water Soluble Soils are the most commonly encountered soils. They include any substance that can be dissolved in water such as soft drinks, coffee, juice or alcohol. These can leave residue and will cause rapid re-soiling if not completely removed. They generally can be removed with mild detergents and

water solutions. Insoluble Soils are substances such as sand, minerals, glass, etc. and are insoluble in water or solvent solutions. This is the type of soiling that is most effectively removed by br ushing and vacuuming. Carpet soiling is a cumulative process and may need to be dealt with in different ways. Here are a few of the more common ways that carpets become contaminated or soiled. Tracked in soils are brought in by shoes, rolling carts, animals, etc. transferring soils directly on the carpet. Carpets are excellent shoe cleaners and the carpets become as soiled as the shoes and this process continues with traffic. Airbor ne Soils are par t of our environment. Dry soils, vaporized soils from cooking and other gases and pollutants constantly bombard carpet fibers which trap and hold these soils. Spills are a fact of life. Food and beverage spills, animal excretions and all of the occasional mishaps deposit various types of wet, oil and dry soils onto the carpet. In our last issue, we discussed the importance of a regular vacuum cleaning schedule relevant to your buildings traffic and individual needs. Here are a few more helpful tips to assist in preventative care of your carpets. Use walk-off Mats strategically placed at entryways. Walk off Mats must be cleaned on a regular basis and be large

enough to thoroughly “clean” the soles of your shoes. Used properly walk-off Mats are the first line of defense in preventing carpet soiling. Move you r f u r n it u r e a r ou nd occasionally. This will help prevent permanent indentations in the backing of the carpet from heavier furniture. This will also change the wear patterns at areas of the carpet that receive the most traffic such as walkways and where you rest your feet in front of your favorite recliner, couch or loveseat. Finally, most carpet manufacturers recom mend having you r car pets professionally cleaned annually or twice a year for busy households. Carpet warranties may require the reapplication of carpet protectant along with proof of regular cleanings to maintain the warranty from the manufacturer. More to come on this subject in future issues. Ray Long has been the owner-operator of Raysco Inc. for over 20 years. With extensive education and certification from the Institute of Inspection Cleaning and Restoration, Ray is also certified in Carpet Cleaning, Water Damage Restoration and Mold Remediation. For more information, or to reach Raysco, please call (702) 837-4914 or visit: RaysCoInc.com.

www.Issuu.com/LVAM

cover STORY

Jim Broo of The Brooks Team ~ eXp Realty

Photography by: David Blake

ome might say that the best views come from looking down from the clouds. Jim Brooks, CEO of eXp Realty in Henderson would love to tell you what this means and why it's true. Today Jim is one of the top real estate agents in Las Vegas, with an accumulation of multiple industry awards, but when he was growing up in Essexville, a small town in Michigan, the business of real estate was not even on his radar. Brooks, the Owner of eXp Realty, Henderson Branch, was raised in a family who knew the value and importance of hard work. He has two older brothers, one of who was the first person in his family to go to college. It took his brother 16 years to eventually earn his Ph.D. degree, but

he held down a job all the way through and never took out a student loan.

a college program at Disney World, in Orlando and was accepted.

As for Brooks, he was working on a farm when only 12 years old, and when he was 17, he accepted a full ride to attend college at a small school in Kansas. It was his first time away from his tight-knit family.

Since he was almost 21 years old, and everyone else in the program was, too, there were a lot of good times to be had as a Disney employee. Given the requirement of college students to learn the “Disney way” of operations, Brooks found that he gained a valuable customer service foundation that would prove essential in his future real estate career.

“I played baseball for a couple of years there, and went through multiple injuries and surgeries,” he said. “All I wanted to do was play sports, and I didn’t care about anything else, but they said that I had to pick something to major in, so I picked sports medicine.” After earning his degree in sports medicine, Brooks moved back home to Michigan, where he stayed for about a year. In the meantime, he had applied to

Las Vegas Agent Magazine | March / April 2019

“I learned a lot about customer service,” he said. “It doesn’t matter if you’re the groundskeeper, maintenance or a dishwasher when you walk through one of those gates and you're active in the park; you're on stage." After about a year and a half, Brooks

oks moved back to Michigan, where his father was a longtime employee of General Motors, and his mother worked at a small college in Saginaw. Soon, his mother discovered that there was a solid opportunity available for him there at the school if he was interested in becoming a registered nurse. With the hard-working Brooks family, there wasn't enough money to put their son, Jim through college, so creativity and outside resources were a must. It turned out that as a male entering a female-dominated field, Brooks was eligible for a full scholarship to earn a nursing degree. He attended, and after graduating as an RN, he began working at a pediatric trauma center. Around that time, he was dating a woman who was planning to move to Las Vegas, and since he was a young man looking to expand his horizons, he moved west with her. “About 60 days after moving here, we broke up," Brooks said. “But then a month later, I met my (now) wife Sandra at the

Celebrating Brianna & Tyler’s academic awards at Lake Mead Christian Academy The Brooks family, (l-r) Jim, son Tyler, daughter Brianna and wife Sandra.

Cover Story

gym, and we’ve been together ever since. We will have been married 16 years in September.” Brooks had found a job as an RN in Las Vegas with an agency that provided skilled professionals to ER’s and trauma centers all over the valley. Though it paid well, by the time 2003 rolled around, the long shifts had begun to wear on him. With lifelong knee problems which lead to ten knee surgeries, the running through ER’s and 13-hour shifts were debilitating. One day he came home from work and told Sandra, “You won’t believe this, but I quit my job.” With a medical background behind him and a need to explore another profession, he started talking to friends about other career possibilities. A friend from the gym was a loan officer, so he tried that for a while, and enjoyed some quick success, but he didn’t find it very fulfilling work. That’s when he decided to go into the real estate business. “I’m a people person with good customer service skills, so I thought I would give it three months and take a shot at it,” Brooks said. “I said if I failed, it would have only cost me three months and a few hundred dollars. And if that happened, I planned to go back to medical school.” Luckily for him, and for the Las Vegas real estate market, his foray into the business was successful. Brooks was licensed in May of 2003, joined Prudential Americana and began working at the Coronado office. He took all the necessary classes and learned all the basics of the industry and started booking floor time duties. Feeling a bit frustrated at the lack of action in doing that, he decided to begin

holding open houses. And since when Brooks did something, he went all in, he was working 6 to 7 days a week, for 8 to 12 hours at a time. “At least I was open for business,” he said. “But very quickly, I started getting busy, and I did my first 12 transactions from open houses. The market was crazy then, so I was really blessed by the timing of when I got in. After three months of doing that, I didn’t need to do another open house.” The Prudential office and Brooks’ role within it began to grow. In 2005 he happened to meet a couple who managed a large Ford dealership in Alaska. Wesley Drown and his wife Tracy wanted Brooks to come and work for them, but he wasn't interested in that. He was, however interested in forming a real estate partnership with them. Their partnership was kicked off that same year when they opened Prudential's very first satellite brokerage on Horizon Ridge and Carnegie. Shortly afterward, they also opened Prudential's commercial brokerage and grew their team to 20 plus agents. By then, Brooks and Drown were 50/50 partners in their own company, CRES Commercial Real Estate Services. He said all was well with the Brooks and Drown Team until the big crash of 2008. “We sold CRES but went with our residential team to RE/MAX Associates," Brooks said. "Then in 2010, they became Better Homes and Gardens, and we moved into the District at Green Valley Ranch. That was where I started getting national exposure.” In 2010, Brooks and Drown dissolved their team, and Jim started The Brooks

Summer vacation back home in Essexville, MI. .Jim, son Tyler, mother Carol Brooks father James Brooks (Jim's hero), daughter Brianna, and wife, Sandra.

www.Issuu.com/LVAM

Cover Story

Supporting our Golden Knights Jim Brooks with Bill Foley

Team. It was the #1 team in the country for Better Homes & Garden Real Estate for three years--2010, 2011 and 2012. During that timeframe, the Las Vegas high-rise market had hit rock bottom. Jim and high-rise team capitalized on significant market share mastering short sales for their investors. Brooks said that Drown is the one who introduced him to the high-rise market back in 2003. The Brooks Team does about 60 percent of the transactions for the three MGM Signature towers and is responsible for almost 1,000 of the transactions to date. Brooks has now grown his high-rise niche to 20 projects. Better Homes & Gardens Real Estate shut down at the end of 2012. So Jim considered opening his own brokerage, but didn’t really want to be a broker, so instead, he took his team to the Realty ONE Group. “I was there for five years, and ours was the flagship team at Realty ONE Group in Henderson,” Brooks said. “But in May of last year, an opportunity came up for me to set myself up for an exit strategy and eventual retirement.” Jim had initially heard about eXp Realty from a business coach and found the concept very interesting. A cloud-based brokerage with modern technology is unique in that there are no desk or royalty fees and becomes a 100% commission after a below average CAP is reached annually. They also offer each agent the opportunity to receive company stock along with a very attractive revenue share component. The eXp platform is built on cutting edge technology which has made it one of the fastest growing real estate companies in history, and it has been wildly successful! “With eXp, a lot of agents think that it’s just revenue sharing, and you get rich attracting people to the company, and you

Jim treating his amazing staff to a Golden Knights game. (l-r) Shavonne Jones, Deanna Garber, Jim Brooks, and Heidi Williams

absolutely can, but this is not our main focus,” Brooks said. “Our main

played in a tournament in Las Vegas and said to himself, “This is it.”

goal is real estate and growing our real estate business. I have strategically aligned myself with 15 of the most elite agents and teams in the country to help The Brooks Team grow and take our production to the next level, and that’s what we are doing.

Jim’s father-in-law, Blanco went back to Chile, immediately packed up his wife and their oldest daughter, and moved the family to the United States. He didn’t speak a word of English at that time, but wanting to work and earn a living, began pushing shopping carts, washing dishes, whatever he could do to put food on the table. After the family relocated to Las Vegas, Sandra was born.

What attracted Brooks to eXp, and continues to attract agents today, is the ability of the agents to set up a viable, real retirement structure for themselves. He says he loves that he was able to find a path with a new company that would be of value to his whole team, and not just to himself. My goal is to grow both eXp Realty and The Brooks Team at the same time. I am looking for motivated and ethical agents that want to build an actual business with a legitimate retirement plan. Now that I have been at this company for over nine months I can honestly say, this is the best opportunity I have ever seen in my 16-year real estate career! “I want to grow both eXp, and the Brooks Team, and I'm looking for likeminded people," Brooks said. "eXp is doing to real estate what Netflix has done to Blockbuster, and I can't believe that anyone would even want to work anywhere else.” While he aggressively continues to expand the eXp brand, that is actually what Brooks considers to be only the third most important aspect of his life. He proudly states that his priorities are God, family, and business, and always in that order. As we know, keeping priorities intact can be challenging in the real estate business. He’s impressed by honest people who work hard. His wife, Sandra's father, was a professional soccer player back in his home country of Chile. Years ago, he

Las Vegas Agent Magazine | March / April 2019

Brooks said that he was raised in a very religious, Lutheran household that was the foundation of him becoming the dedicated Christian husband and father he is today. Jim, his wife, Sandra, and their two children, Brianna & Tyler, attend Hope Church regularly. Hope has renewed Jim and his family's spirituality and has been influential to their family growing in their faith. Jim insists that he is just an average person who has accomplished extraordinary things. He attributes his continued success in business, even through all the trials and tribulations, to his relationship with his Lord and Savior. " I believe the Good Lord has blessed me and He is using my success in real estate for His glory and to spread His word," Brooks said. “My business model has always been about being honest, ethical and outworking my competition. That is what I love about real estate; you can make a lot of money being an average person if you have the right focus.”

To learn more about the Brooks Team and eXp, please call 702-269-8443 or visit www.LasVegasHomes.vegas or www.highrises.vegas

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The Science of Persuasion & How It Applies to Realtors. Part 1 By: K e v i n C o l e

lthough there is a considerable art to persuasion, there is also trackable science to it as well. One of the greatest experts on the Science of Persuasion & Influence is Robert Cialdini has narrowed down 6 of the most important principles to persuasion and influence, and they include… 1. Reciprocity. 2. Scarcity. 3. Authority. 4. Consistency. 5. Liking.

6. Consensus. His scientific studies have shown that when all 6 of these principles are practiced in your business, you will have a considerable edge over your competitors. In Part I of this article I will be going through the first half of these principles, then in next month’s Now before I continue, allow me to add a 7th Principle, that I believe will make or break all 6 of these other principles. Congruency: You absolutely must be congruent and sincere in ethically and honestly wanting to create win/win outcomes with your clients using these principles. Otherwise, you’ll end up with people having buyer’s remorse and never wanting to do business with you again, tenants that have no respect for you or your property, and in my belief, you’ll just have bad karma all around. In the wise words of the late, great Zig Ziglar; “You can have everything in life you want if you will just help enough people get what they want.” Reciprocity: You’ve probably already heard of “The Law of Reciprocity,” and there’s a good chance you give your clients gifts at the time of closing to help seal the deal, and hopefully gain their referrals in the future. According to Cialdini’s study, there’s a real science to how to do these best though. For example, Cialdini did a study where he had a waiter at a restaurant give a mint to every customer after their meal, and they found that the waiter’s tips typically went up by about 3% with the mint vs. without the mint. They didn’t stop there though. They then tested how much the average table would

tip when the waiter gave two mints at the end of the meal instead of one, and instead of tips doubling, they actually quadrupled to a 14% increase in tips! The study didn’t stop there either though. They then had the waiter leave one mint, start to walk away from the table, then turn around and say “For you nice people, here’s an extra mint,” tips dramatically increased to a 23% increase compared to if there was no mint at all! So if you aren’t already giving gifts to your clients and tenants, even just small gifts, then I highly recommend you start. And if you aren’t going out of your way to make your clients and tenants feel special and unique with how much you appreciate them, then start. Scarcity: This is an easy one for the real estate business right now because inventory is so low, and the cost of buying a house keeps going up. This has created a considerable scarcity in the Las Vegas area, and human beings just tend to be wired to “Want more of those things there are less of.” In studying this principle, Cialdini took note of the fact that in 2003 British Airways announced that they would stop offering the twice daily, London to New York Concord flight because it had become so expensive and “uneconomical.” The very next day after British Airways did this, sales increased dramatically. Sound familiar to the Las Vegas real estate market? Now I’m not saying that you should unethically create a false scarcity just to do more business, because people are onto those kinds of tricks and your referrals will most likely go down if you do, but I am saying that it’s perfectly ethical to help others understand when there already is a scarcity so it’s important they buy now before the inventory gets lower and prices, including interest loan rates, go up. There’s a little more to using the principle of scarcity though if you want to really persuade others. Instead of just telling them what they will ‘lose out’ if they don’t do business with you, you also want to point out what the unique benefits of doing business with you immediately, rather than waiting. You want to mention both what they will lose, and what/how they will gain. Authority: People follow the lead of credible, knowledgeable experts. There are many ways to establish yourself as an expert. You can create educational Youtube videos; you can write articles for publications. You can write a book

Las Vegas Agent Magazine | March / April 2019

on the topic you are an exper t at, and so much more, but one of the simplest ways of establishing yourself as an expert is having someone else casually introduce you as one to others. The science has shown that when someone is introduced by someone else as being an expert in a specific area, even if that someone else is a close friend or relative, the person being introduced is automatically looked at as an authority figure. In addition, having someone with a personable voice other than yourself answering your phone and transferring calls to you with a brief introduction such as “Let me connect you with Mary. She has over 22 years experience selling properties and really knows how to find the best deals” has been shown to increase appointments by as much as about 22% and as much as a 15% increase in the rise of signed contracts. There are other factors that play a role as well, including dressing well professionally. Kevin Cole, Founder of Empowerment Quest International & A Purposeful Empowerment Guide™, is also a trained Hypnotherapist. Since 1996 Kevin Cole has been involved in hypnotherapy, Neuro Linguistic Programming (NLP), and many other fast working and extremely effective methodologies for helping people overcome their challenges and experience great joy and passion for life. In addition to holding dozens of certifications from a great variety of trainings, he also teaches classes on Hypnotherapy, NLP and Life Coaching. For more information, please visit www.nlptrainingquest.com www.lasvegashypnosiscenter.com or call 702-626-4901.

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Holey Carpet?

Patch It Up! By: M i k e K l i m e k

f you’ve ever had a hole in your carpet and dreaded the thought of fixing it or the cost of replacing it, relax… if you screw up the repair, then you can replace it. For now, you can try a straightforward repair: patching the carpet. When I was growing up, we had carpeting, but that word is a bit too kind for this particular material. It was shag carpeting, and it looked like it had been growing in an Ecuadorian jungle before it was trampled on by a herd of elephants with unclipped toenails. Combine this matted l ook with a putrid orange color, and you’ve just entered the Klimek household, circa 1975. My mother wanted to get rid of it but needed to justify the expense of doing that. My brother swears that he saw her burning holes in the thing, as well as throwing gum on it. If my dad had realized these flaws could be repaired, that carpet might still be there. For your carpet, you’ll need to cut out the area around the hole and fill it in with a patch that you will cut out from another area of your house. To make the cut, you must use a razor-sharp blade, either a utility knife or carpet knife. Slice a square out of the carpet around the hole, but you should cut just enough to remove the hole completely. In other words, if you have a 2-inch hole, don’t cut a 3-foot square out of the carpet.

If at all possible, avoid cutting the carpet fibers. Try to separate them (as if you are parting your hair) and cut the backing of the carpet. Move the blade of the knife back and forth to start the hole and then continue around the perimeter. So now you have a little square that has been surgically removed from your carpet. You could take it to a carpet store and try to match the color, but the dye lot would be different and wouldn’t perfectly match. Instead, find a spot in an inconspicuous area, such as the back of a closet, and cut out a patch of your own carpet to fit the new hole in your hallway. Take your square to the back of the closet and use the sharp knife to trace around it. Cut the square slightly larger than the template so that it fits snugly into the hole. It’s easier to trim back the patch rather than cutting a new one because the original is too small. Test fit the patch until it fits into the hole perfectly. All that is left to do is to apply some carpet adhesive and stick the patch into the hole. Place a heavy object on the patch overnight until the adhesive dries, then use a fork to blend the carpet fibers together. By the way, you can buy a remnant at a home center or carpet store to plug the hole you made in your closet. You can also find carpet repair kits that

Las Vegas Agent Magazine | March / April 2019

accomplish the same thing, although you may have to shop at a carpet wholesaler or go online to find them. These kits have a cookie-cutter device that you place over the damaged carpet and then rotate to cut through the carpet. A patch is cut the same way. The kit also comes with sticky discs that you use to keep the patch in place. And one last thing: if your carpet is damaged due to a burn and just the ends of the carpet fibers are damaged, rather than cut a plug you might first try to snip off the ends using scissors.

Mike Klimek is a licensed contractor and owner of Las Vegas Handyman. He has written hundreds of articles regarding home repair and remodeling and has been published in Southern Nevada Home & Garden Magazine, Finishing Touches Magazine, Zip Code Magazines, and Real Estate Success Magazine. He has written for the Las Vegas Review-Journal & Sun since November 2000. Watch for Mike’s regular column here and in the Las Vegas RJ. (702) 896-0000 questions@pro-handyman.com

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Cross Mentoring Wisdom By: Gloria Petersen

he typical role of a mentor in the real estate world is for a seasoned agent to provide guidance and support to a new agent. It is about sharing one’s wisdom. However, “cross-mentoring” is more rewarding and gratifying. For example, it is important that new agents learn the ways of the real estate industry through seasoned agents. However, it is equally important that seasoned agents learn from new agents who bring their unique education, knowledge, and outside experiences to the industry. This is how the real estate industry grows and stays competitive. Fur ther more, we send messages electronically, by postal mail, and in person in the hope of imparting knowledge and wisdom, sharing housing or building trends, and thus, attracting business. The irony is that, while wisdom is too often replaced with technology, technology is only as good as the wisdom that drives it. In this age of information, knowledge is plentiful, but wisdom is becoming scarce. Cherish it! Wisdom is in the knowing — knowing what to do in any given situation. The combination of knowledge and wisdom identifies ability, intelligence, brilliance, genius, and wit. We want to learn, to understand, and to find buyers as well as solutions—it is part of our inner fabric. And that is just a start. We can also gain wisdom from experience and the circumstances of our life, which we often refer to as the “school of hard knocks.” So be open to the advice of others, especially those who know you well, who have a wealth of experience, and who can give you valuable insight and counsel. This is how you truly learn from others and gain wisdom. When mentoring, make sure that there is a balance of sharing and that no one’s time is monopolized. Wisdom lies in validating

ideas or opinions and in being diplomatic when you are not in agreement. It is also important to realize that not every idea is going to work, so focus on the ideas that will enhance effectiveness and bond relationships between the agent, the developer, and the buyer. Knowledge Speaks - Wisdom Listens. Did you know . . . the spiritual leaders of Egypt, India, Persia, China, and Tibet all taught their students to speak only when they had something constructive to say? They set up a standard to determine if it was wise to say a thing. “Is it true? Is it kind? Is it needful?” Even it if is true, if it is not kind, then surely it is not needed! This wisdom can also be found in the “Triple Filter” test of Socrates. Wisdom is described as the quality or state of being wise and as having insights that go beyond the average person’s knowledge base. It comes with age, and it comes with experience. It is achieved by trying the unknown, learning from missteps, and valuing differing opinions. Wisdom is about learning from errors and recovering—not dwelling on them. There is a vast difference between “having knowledge” and “sharing wisdom.” We can gather knowledge through book learning and formal training, but without wisdom, knowledge loses its impact. We must learn how to live out what we know with consideration, kindness, and respect. The foundation of knowledge is to be unfailingly willing to learn and to respect each other’s viewpoint and ideas. Wisdom means far more than simply knowing a lot. It is a basic attitude and foresightedness that affects every aspect of our life. • Knowledge: Having the facts; honoring

Las Vegas Agent Magazine | March / April 2019

and respecting each other. • Wisdom: Applying those facts to life. • Common Sense: Knowing how and when to use knowledge and share wisdom. It’s about being appropriate and sensitive, and it is about timing. • Insight: Having an accurate and/ or deep intuitive understanding of a person (or situation) and the type of house or building structure that will best meet their needs. Wisdom is truly a gift and a gift that is not developed all at once. Some people have more knowledge than common sense. Other people have more insight than discretion. It is important to understand the differences and create the right balance. Cross mentoring wisdom will help you build a solid foundation for success and happiness.

Gloria Petersen is an author, trainer, and speaker on Professional Presence, Business Etiquette, and Protocol. Gloria is a graduate of the Protocol School of Washington® and has received numerous certifications on her subject matter. Her four-book (professional development) series, “The Art of Professional Connections,” and SME training modules represent her 30+ year legacy. Gloria is currently working on her fifth book (personal development) on how to turn challenges into opportunities. For information about her books, training, and seminars, visit GloriaPetersen.com or email directly: gloria@gloriapetersen.com.

Selling Property in Probate – Part 2 By: R o b e r t B o l i c k

ary Jones, the owner of a property, has died. Her daughter, Sally has been appointed as the Personal Representative ("PR") of her mother's estate. You represent either the seller of the property (the decedent's estate) or the buyer seeking to purchase the property. In last month's issue, we discussed who can execute the listing agreement and how to determine if Sally has proper authority to act on behalf of the estate.

1. What comes next? After the purchase and sale agreement is executed, the next step is to have Sally’s attorney prepare and file a petition for the court to hold a hearing to approve the sale of the property. All interested parties should be notified of the hearing. You should be sure that the buyer is notified of the hearing and the fact that the property will be subject to open bidding in court. At t he hea r i ng, T he P robat e Commissioner will call the matter and ask if there is anyone interested in bidding on the property. He is required by law to do so. He will accept bids in open court. He will then enter an order awarding the sale to the highest bidder, which can be your buyer or any third party. The successful bidder, if different from the buyer on the contract, essentially acquires all rights and duties under the contract, except that it’s at the higher purchase price. The new buyer is required to close at the same time and under the same terms and conditions set forth in the contract. If he doesn’t, he’s personally liable and the court can enter a judgment against him. In years past, it was not uncommon to see full-blown bidding wars in court. The good news is that those days are largely in the past. Nowadays, it is rare to see any bidding in court. Your buyer will most likely be able to have his or her contract approved by the court. The downside is that having the uncertainty of what could happen at the hearing could discourage otherwise interested buyers.

2. Finally, the Sale. After the court approves the contract,

the parties can proceed to close as set forth in the contract. You will need to provide the escrow company with a certified copy of the order approving the sale. Finally, Sally as the PR of the estate will execute and deliver a PR's Deed conveying clear title to the buyer.

3. Are there any other alternatives? Yes. Waiting until the probate is finished and purchasing the property from the beneficiaries is always an option. If the probate is near completion when the parties are ready to close, and all the beneficiaries are on board with the sale, it almost always makes sense to simply wait until the probate is finished.

4. Are there any risks in waiting? Yes. If t here a re mult iple beneficiaries of the estate, you now run the risk of not all of the beneficiaries agreeing to the terms of the sale. Some may not even want to sell. If any of the beneficiaries are minors, they will need a further court order to sell the property. One advantage of selling a property in

probate is that you need only deal with the Personal Representative of the estate. For all of you brave enough to venture into the world of probate sales, best wishes on a smooth transition through the process and a happy outcome for all! Robert L. Bolick, Esq. 10785 West Twain Avenue, Suite 200 Las Vegas, Nevada 89135 (702) 690-9090 rob@rlbolick.com rlbolick.com

Attorney Robert L. Bolick is owner and president of Bolick & Boyer in Las Vegas, specializing in estate planning and asset protection. He maintains an “AV” rating with MartindaleHubbell, which is the highest rating awarded to attorneys for professional competence and ethics. (702) 690-9090| rob@rlbolick.com | www.rlbolick.com www.Issuu.com/LVAM

Four Must-Have Tools for Re Professionals By: J a n O ’ B r i e n

o successfully compete in today’s industry, real estate professionals must master and implement the right tools and systems in their business. The competition for the attention and commitment of a potential buyer or seller is fierce – especially when you are using online marketing and advertising for lead generation. Here are the four must-have tools for all real estate agents: 1. Lead Generation & Conversion Platform (IDX Website) 2. Client Relationship Management Software (CRM) 3. Personalized Home Search Mobile App 4. Automated Home Estimated Home Value Report

Lead Generation & Conversion Platform There are a plethora of real estate website solutions to choose from today. If online lead generation and conversion is part of your business success plan, then having an effective, true lead gen platform and solution is critical! The most popular platforms range in price from $1200 to $1800 per month plus your marketing budget. The systems listed below include a fully integrated IDX website, CRM, lead follow-up and conversion and other marketing features and tools. Boomtown http://boomtownroi.com/ Kunversion http://www.kunversion. com/ Commissions Inc http://www. commissionsinc.com/ Real Geeks http://www.realgeeks. com/real-leads/ Brivity http://info.brivity.com/leads/ Curyator https://www.curaytor.com/

At Home Connect America, we selected the kvCORE brokerage platform from Inside Real Estate because it is scalable and very affordable (starting at $399) for our teams and individuals interested in a powerful lead generation platform. The kvCORE system integrates all four of the key tools for our agents and teams.

kvCORE is only available at the Brokerage level – Kunversion is their individual agent/team solution.

Client Relationship Management Software (CRM) Just like real estate websites, there are so many options for a real estate CRM! The key to success with a CRM is to fully embrace and use it daily. This means you have to really love it and treat it like the virtual assistant a great CRM can be. Most online buyers start their home search 6-12 months before they are actually ready to purchase. It is imperative that you leverage your CRM to nurture the lead, build rapport and remind you when it’s time to follow-up with a phone call. All of the lead generation platforms and many real estate websites have an integrated CRM/back office. When researching and selecting a real estate software system to use for your business, look for these features:  Robust contact management (to collect all the important information)  Manage your sales pipeline  Manage your follow-up (calls, emails, tasks, appointments)  Text and email notifications of leads  Ability to quickly and efficiently respond to contacts and leads  Built-in and customizable action plans and drip email campaigns  Integration/syncing with Google/ Outlook calendars and email  Lead routing from various lead sources (Zillow, Realtor.com, etc.)  Manage your listings and closings

Las Vegas Agent Magazine | March / April 2019

 Ability to build and send CMA reports  Mobile search app  Lead generation landing pages  Automatic market data reports  Integrated Website is a bonus Two solutions to consider (if you don’t already have a built-in CRM in your website/lead generation platform): Top Producer (starting at $ 39.95/mth for the CRM) Lion Desk ($25/month) Personalized Mobile Home Search App A custom home search app to share with your clients and prospects is another powerful item to have in your real estate tool kit. Your website should be mobile responsive and easy to view and use on a mobile device. But a separate home search app that is personalized with your contact information and includes all listings in the MLS generally provides a better home search experience for the user searching on their mobile phone. All members of GLVA R have a personalized home search app. GLVARMLS is available for iOS and Android and can be used by real estate agents, brokers, as well as their clients.

eal Estate

and others in your database to your home valuation system! It’s another great monthly touch, and one most people are interested in opening and reading.

Jan O’Brien has over 27 years of leadership, You may already have access to a real estate brokerage, It is critical to have a solid email, customized home search app – check these real estate training, text, call campaign in place when possible sources: business and coaching using an automated home valuation experience. She • Your brokerage or franchise tool for seller lead generation. We proudly served as • Your real estate website solution may have found that many homeowners a Captain & UH-60 include a consumer home search app are interested in knowing the current Blackhawk pilot in the U.S. Army from Here is a standalone home search mobile value of their home, but may not be interested in selling now. But if 1984-92. Jan is the app: you maintain contact and send the co-founder & COO of • Smarter Agent Mobile App https://www. monthly report, you have a better chance the Las Vegas brokerage Home Connect smarteragent.com/agent/ (Plans start at of converting if and when they are ready America – THE Home for Teams. She is $49/mth) to sell. also the co-founder of WBNL Coaching, a company that provides online training and Automated Home Estimated Here are two other options to consider: coaching for agents, teams, and brokers Value Report • Top Producer has Market Snapshot https:// including their signature Real Estate Team | 10785 West Twain Avenue If you decide to use one of the lead www.topproducer.com/products/market- Builder program. Jan co-hosts the weekly Las Vegas, Nevada 89135 generation platform solutions for your snapshot Wandering But Not Lost Podcast, Where business, an instant, automated home Real Estate & Reality Meet. To learn | 702.870.6060 valuation tool is included. These systems • Home Value Leads https://www. more, visit JoinHomeConnectAmerica. homevalueleads.com/ ($59.99/mth) allow you to send an automated report to com, WBNLPodcast.com, has (I the strongest asset laws in truly the country. the Nevada seller lead recommend doingprotection this If you embrace, master |and use RealEstateTeamBuilder.com. rbolick@djplaw.com monthly). The report a value these safe! four key tools daily in your real Connect with Jan: jan@janobrien.com, Learn howprovides you can keep your assets range and provides information on the estate practice, I am certain you will see 702-858-9191, and @JanOBrien neighborhood or surrounding geographical an overall increase in your lead conversion on social media.

Robert L. Bolick

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Getting your Clients off the Fence By: B r e n t W o o d

xisting homeowners who want to upgrade or downsize are beset with objections relating to their “exit” home. Let’s explore some common objections and solutions. Challenge Client’s down payment money is tied up in their exit home.

They don’t want to sell their existing home and then live in a rental until they find their home and complete the purchase. This means moving twice and living in a temporary home. A contingent offer may work, but homes in demand may not accept a contingent offer. New construction homes require earnest money and options deposits, which may preclude a contingent transaction.

Solutions 1) Home Equity Line of Credit (HELOC) on the “exit property.” Pulling money out of the exit property can provide earnest money deposit and down payment funds for the purchase.

2) Cross-Collateral (aka Bridge Loans) can provide a loan to purchase the new home (100% plus closing costs). Significant equity in the previous home is required, and when the exit home sells, some of the proceeds are applied to the new home’s loan, and the payment is reamortized to reduce the payment. Re-amortization is a key feature

because the payment is reduced by the balance being paid down. This is done without refinancing hassles or expense. Challenge Investors need cash from their homes to buy other homes. Whether investors need to do rehab or they want to buy more properties, often their cash is already tied up in other properties. Solutions 1) Cash-out Refinance. This option allows for getting cash out of their investment properties one time. It is a good solution providing a fixed rate. Washington Federal can finance nine single-family properties (or 9 total doors if multi-unit) beyond the limit of 10 that Fannie Mae offers. This means investors can now have 19 financed properties.

2) Home Equity Lines of Credit (HELOC) are now available for investment properties. This means investors can cycle their home equity line for investing in other homes for acquisition or rehab. Each time it is paid off and reused there are no more fees or qualifying.

Challenge Some clients have the money to buy the home. That is great, but when they sell, they want to pay down their new mortgage significantly to lower the payment.

Las Vegas Agent Magazine | March / April 2019

Solution Re-amortization. Washington Federal is a portfolio lender and never sells its loans. For a fee of $250, the client can pay a lump sum on the mortgage of $10,000 or more and WAFD will re-amortize the loan to lower the payment. No rate change, no re-qualifying, and no refinance needed. This two-step scenario is very common, especially for relocations and retirees. These make-sense solutions to common “fence sitting” objections can make the difference between a lead-changing from “fall-out” to “closing.” Brent A. Wood, NMLS # 327581, is Branch Manager, Washington Federal. A 15 year veteran of the Mortgage Industry, Brent has worked in positions ranging from Loan Originator to Director of Marketing, and Branch Manager. Brent has extensive experience teaching children, teens, consumers, & real estate agents on industry topics like Financial Literacy, Mortgage Financing, First Time Homebuyers, Reverse Mortgages, Loan Origination Technology, Construction Loans, Marketing, and Ethics. To reach Brent, please email: brent.wood@wafd. com or call Cell 702-629-9555 Off 702-638-1236.

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Housing NEWS N ews

Local home prices dip below $300,000 as homes sell at slower pace

ocal home prices dipped below $300,000 in February while fewer properties changed hands and more homes were on the market than one year ago. That’s according to a report released Wednesday by the Greater Las Vegas Association of REALTORS® (GLVAR). GLVAR reported that the median price for existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during February was $296,200. That’s down from an even $300,000 in January, but still up 7.7 percent from $275,000 in February of 2018. The median price of local condos and townhomes sold in February was $165,000. That was up 10.0 percent from $150,000 in February of 2018. “Our home prices have been going up faster over the past year than almost anywhere else in the country, but they’ve been slowing down lately,” said 2019 GLVAR President Janet Carpenter, a longtime local REALTOR®. “This is consistent with what’s happening nationally. We’re also following national trends with our increasing housing supply and the decreasing number of homes being sold here. Home sales and prices usually pick up in the spring and summer, although there are signs that we may see a slower spring selling season than we have during the past few years.” While she was encouraged to see mortgage interest rates remain at historically low levels, Carpenter said headwinds in the local housing market include home prices that have been rising faster than average incomes in recent years. As a result, she said many sellers have been lowering their listing prices.

In fact, some national reports have suggested that Southern Nevada led the nation with nearly 24 percent of all local home sellers cutting their asking price during the last year. Before slowing down in recent months, local home prices had generally been rising since early 2012, inching closer to their all-time peak. According to GLVAR, the median price of existing single family homes sold in Southern Nevada peaked at $315,000 in June of 2006. Local home prices hit a postrecession bottom of $118,000 in January of 2012. At the current sales pace, Carpenter said Southern Nevada now has less than a four-month supply of homes available for sale. That’s up sharply from one year ago, but still below what would normally be considered a balanced market. By the end of February, GLVAR reported 7,134 singlefamily homes listed for sale without any sort of offer. That’s up 95.3 percent from one year ago. For condos and townhomes, the 1,754 properties listed without offers in February represented a 158.3 percent jump from one year ago. GLVAR housing report – page 2 The total number of existing local homes, condos and townhomes sold during February was 2,508. Compared to one year ago, February sales were down 7.6 percent for homes and down 5.9 percent for condos and townhomes. GLVAR reported a total of 42,876 property sales in 2018, down from 45,388 in all of 2017. At this rate, Carpenter expects sales numbers to be slightly lower this year than last year. GLVAR reported that 26.2 percent of all local properties sold in February were purchased with cash. That compares to

Las Vegas Agent Magazine | March / April 2019

32.4 percent one year ago. That’s well below the February 2013 peak of 59.5 percent, indicating that cash buyers and investors are still active in the local housing market, but have been playing a much smaller role than they were during and just after the Great Recession. The number of so-called distressed sales also continues to drop. GLVAR reported that short sales and foreclosures combined accounted for just 2.6 percent of all existing local property sales in February. That’s down from 3.8 percent of all sales one year ago and 10.6 percent two years ago. These GLVAR statistics include activity through the end of February 2019. GLVAR distributes statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or homes for sale by owners.

Other highlights include: • The total value of local real estate transactions tracked through the MLS during February was more than $689 million for homes and nearly $96 million for condos, high-rise condos and townhomes. Compared to one year ago, total sales values in February were down 3.4 percent for homes, but up 4.5 percent for condos and townhomes. • Homes and condos are selling at a slower pace. In February, 69.3 percent of all existing local homes and 69.7 percent of all existing local condos and townhomes sold within 60 days. That compares to one year ago, when 79.8 percent of all existing local homes and 86.4 percent of all existing local condos and townhomes sold within 60 days.

Local Housing Statistics N ews Greater Las Vegas Association of REALTORS® February 2019 Statistics

Single Family Residential Units AVAILABILITY AT END OF PERIOD # of available units listed Median list price of available units Average list price of available units

*AVAILABILITY AT END OF PERIOD # of available units listed w/o offers Median list price of available units w/o offers Average list price of available units w/o offers

Condo/Townhouse Units

Change from Change from Feb 19 Jan 19 Feb 18 10,950 +3.8% +33.3% 325,000 +0.0% +4.8% 472,661 +0.1% +0.7%

$ $

Change from Change from Jan 19 Feb 18 7,134 -1.7% +95.3% 339,900 +0.6% -8.1% $ 528,817 +1.8% -15.6% $

Feb 19 $ $

Change from Change from Jan 19 Feb 18 3,403 -10.6% +7.5% 319,900 +1.6% +10.3% $ 404,258 -2.0% +7.7% $

Feb 19

NEW LISTINGS THIS PERIOD # of new listings Median price of new listings Average price of new listings

$ $

Change from Change from Jan 19 Feb 18 1,966 +7.8% -7.6% 296,200 -1.3% +7.7% $ 350,690 -0.2% +4.5% $

Feb 19

UNITS SOLD THIS PERIOD # of units sold Median price of units sold Average price of units sold

$ $

TIME ON MARKET FOR UNITS SOLD THIS PERIOD 0-30 days 31-60 days 61-90 days 91-120 days 121+ days

Feb 19 48.2% 21.1% 14.2% 7.6% 8.9%

TOTAL HOME SALES DOLLAR VALUE FOR UNITS SOLD THIS PERIOD

Jan 19 48.3% 23.7% 14.6% 6.7% 6.6%

Feb 18 63.3% 16.5% 8.7% 4.7% 6.7%

Change from Change from Jan 19 Feb 18 689,457,475 +7.6% -3.4% $ Feb 19

Feb 19 2,649 169,950 191,026 Feb 19 1,754 169,900 193,146 Feb 19 881 179,900 194,217 Feb 19 542 165,000 176,675

Change from Change from Jan 19 Feb 18 +5.0% +60.2% +1.2% +6.9% +1.7% +0.7% Change from Change from Jan 19 Feb 18 +3.0% +158.3% +1.1% +0.0% +2.0% -9.4% Change from Change from Jan 19 Feb 18 -10.0% +15.8% +2.9% +12.4% +2.7% +7.1% Change from Change from Jan 19 Feb 18 +12.4% -5.9% -2.9% +10.0% -4.1% +11.0%

Feb 19

Jan 19

48.9% 20.8% 13.3% 8.5% 8.5% Feb 19 95,758,115

Feb 18

47.5% 23.7% 14.1% 7.9% 6.8%

70.8% 15.6% 5.2% 4.2% 4.2%

Change from Change from Jan 19 Feb 18 +7.9% +4.5%

Source: Greater Las Vegas Association of REALTORS® For media inquiries, please call George McCabe, with B&P Public Relations, at (702) 325-7358 DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, Lincoln and White Pine Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

*This category reflects the existing market availability of listings without pending or contingent offers. Source: Greater Las Vegas Association of REALTORS® For media inquiries, pleaseGreater call George McCabe, with B&P Public Relations, at (702) 325-7358. Las Vegas Association of REALTORS® Statistics

Greater Las Vegas Association of REALTORS® Statistics

Availability Without Pending Or Contingent Offers DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable Units Sold in Period but is not guaranteed. MLS collects, compiles distributes information listed for sale by its subscribers who are real estate agents. MLS subscription is available to all Availability Without Pending Or Contingent Offers Units Sold in Period [ Endand Of Period ] about homes real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings End Of Period

Thousands

from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, 4000of Directors of the National Association of Nye,14 Lincoln and White Pine Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board REALTORS®. Single Family 3500 12 Residential Units

10 8 6 4 2 0

Condo/ Townhouse Units

Single Family Residential Units

3000 2500 2000 1500 1000 500 0

Month

Condo/ Townhouse Units

Month

Source: Greater Las Vegas Association of REALTORS®

For media inquires, please call George McCabe, B&P Public Relations, at (702) 325-7358.

DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, White Pine and Lincoln Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

About About

the theGLVAR GLVAR

homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in GLVAR GLVAR was was founded founded in in 1947 1947 and and provides provides itsits more more than 11,000 local local members members with education, education, Nevada, but is notthan available to 11,000 the general public. Not all licensed agents subscribewith to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, White Pine and Lincoln Counties, Nevada, training training and and political political representation. representation. The The local local representative representative ofof the the National National Association Association ofofand such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®. REALTORS®, REALTORS®, GLVAR GLVAR is is the the largest largest professional professional organization organization in in Southern Southern Nevada. Nevada. Each Each GLVAR GLVAR member member receives receives the the highest highest level level ofof professional professional training training and and must must abide abide byby aa strict strict code code ofof ethics. ethics. For For more more information, information, visit visit www.HomeLasVegas.com www.HomeLasVegas.com oror www.lasvegasrealtor.com. www.lasvegasrealtor.com.

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Women's Council of Realtors

Congratulations to the

Top 25

W o m e n i n R e a l E s tat e

Las Vegas Agent Magazine | March / April 2019

SOUTHERN NEVADA HOME BUILDERS ASSOCIATION

Home Buyers Reveal What They Want in Their Next Home By: N a t H o d g s o n , CEO, Southern Nevada Home Builders Association

s the spring home buying season kicks into full gear, the home building industry is celebrating New Homes Month in April. Buyers in the market for a new home are probably thinking about what features are essential on their must-have list. A recent survey from the National Association of Home Builders (NAHB) reveals what consumers are looking for in their house hunting this year. Both first-time buyers and existing home owners were asked about the features they consider essential in their next home. Nearly half of first-time home buyers rank these features among their top five must-haves: living room, laundry room, dining room, garage storage and a walk-in closet in the master bedroom. First-time buyers are also looking for a front porch, a 2-car garage and a double sink in the kitchen. Are existing home owners looking for dramatically different features as they look to move up or downsize? In fact, their list of essential items includes many of the same preferences of first-time buyers. But they also are looking for more, including a patio, table space for eating in the kitchen, hardwood floors in the main level, Energy Star appliances and granite countertops in the kitchen. Both sets of home buyers are continuing their commitment to energy efficiency in 2018. Energy-efficient features like low-E windows and Energy Star-certified appliances are among the popular desired features. Home buyers also indicated their openness to joining the tiny home trend. NAHB found that 53 percent of respondents would consider purchasing a home of 600 square feet or less at some point during their lifetime. Perhaps not surprisingly, Gen Xers and millennials were much more open to the idea of a tiny house than baby boomers and seniors. Visit snhba.com to learn about the latest features available in new homes in the Southern Nevada area. www.Issuu.com/LVAM