Las Vegas Agent Magazine July/August 2014 Issue

. . . is for

Vandana Chima-Bhalla!

JULY/AUGUST 2014

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Vote

Kathryn C. Bovard for vice president of the Greater Las Vegas Board of Realtors!

I have been a Nevada licensed agent for over 20 years and am currently a Director for GLVAR. I have had experience from operating my own small company to managing the #1 one top producing office in the country and understand the difficulties facing our agents. I have also served on the GLVAR Finance Committee and was your 2011 GLVAR Treasurer which gave me a substantial knowledge of our budget and how our organization operates.

I think it is critical given the current challenges that face our Board and our association that our next Vice President be well versed in the present accounting systems and the specific issues that face our association. I am committed to representing the agent’s best interests. n Current NVAR and NAR Delegate n 2014 Director, Greater Las Vegas Association of Realtors n Certified Mediator n Served on Numerous Local and State Real Estate Committees Over the Past 10 Years

I truly appreciate those of you who have encouraged and supported me and I 'm hoping that I can count on your vote.

WoRKing haRd foR you!

2005-2007

Grievance committee 2008

Grievance committee Vice chair 2009

Grievance committee chair 2006-2010

MLs committee 2011

MLs committee Vice chair

3

Re elect

Krystal sherry GLVAR BoARd of diRectoRs

2012

MLs committee chair 2012

MLs director on Board of directors 2013-2014

GLVAR director 2012 & 2014

GLVAR strategic Planning committee Mediator for GLVAR 2012-Present

NVAR Board of directors 2014

NVAR Legal Action fund committee 2013

NVAR Bylaws and Policy committee 2013

NVAR Nominating and Awards committee

Longtime Las Vegas resident, Krystal is a second generation Realtor. Her father started in real estate over 30 years ago and Krystal learned at his side. Never even considering any other profession, Krystal has trained, managed and owned real estate companies.

As an active agent, she has bought, sold and managed properties for as long as she can remember.

2013

NVAR technology committee served on group to change rental co-op payment policy to get

“When you spend your life in an industry you love, learning every aspect you can, you want what’s best for it!

Please help me continue to work for you on your GlVar Board of Directors!”

RealtoRs® paid no later than 30 days of them renting a property served on the group that sought out and implemented the sso

to speak with Krystal, please email or write to her at:

Krystalsherry@cox.net or 702-283-9192

Vote foR KRystal sheRRy

Created Exclusively for the Las Vegas Real Estate Agent

COntents 6

If You Want to Grow You’ve Got Options

10

Mike Ferry Publisher

Melodie C. Miller publisher@LVAgentMagazine.com

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JC Melvin

If You Do This, Your Emails Might Be Rude

12

Adam M. Grant

14

Copy editor

Where Are We Going?

Global Business Promotes Peace Tamara Larisa Tyrbouslu

Are You Hooked On Electronics?

Dr. Loren Ekroth

COVER STORY

Melanie Cardano

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ceditor@LVAgentMagazine.com

advertising sales

Vandana Chima-Bhalla

Danielle Trevino DTrevino@LVAgentMagazine.com

Writer

Marek Biernacinski marek.biernacinski@wordsbyapro.com

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Perfect Paint Job Without a Sprayer

26

Making Old New Again

Mike Klimeck

28

Realtors® Save Green at the Gas Pump

Pitfalls and Dangers of Joint Tenancy Robert L. Bolick

Graphic Design

Staci Buck

24

Tax Initative Could Have Negative Impact

Terrence Clayton

Annette Bubak

35

GLVAR Housing Statistics

Kolleen Kelley

art@LVAgentMagazine.com

Photography

Jamie Thomson jlthomson85@gmail.com

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Newsletter

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Newsletter

Las Vegas Agent Magazine is 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

Copyright© 2014. All Rights Reserved

Las Vegas Agent Magazine: 702-530-5033

If you want to grow you’ve got options Social media craze: This means using texting, tweeting, he challenge every Real blogging, Facebook, etc. as methods Estate salesperson face is to stay in touch with people the same. That is, do I want and attract people to you. my business to grow, do I want Most people recognize it to remain the same, or do I (and, specifically, our want the economy to make those industry recognizes) decisions for me? As simple as the that this is not a great questions are, they’re certainly not way of getting business, as easy to answer as they appear.

Traditional methods of it’s a way of staying in If your decision is to make your lead generation: For years, the touch with people. The best industry has been teaching you use of social media would be business grow, the obvious that lead generation revolves with your database. question is: What are you around geographic farming, going to do to make holding open houses, Predictive dialing: It’s the latest it happen or how are dropping door hangers craze in the Real Estate business because you going to go about Silicon Valley is promoting the fact Open on doors, etc. If you want making it happen? that through computer analysis, they House to do 3 to 5 transactions This, again, is not an can actually tell you which homes in easy question to answer per year, these are ways to a given area are going to sell; by you because there are so many make that happen. paying them a substantial fee every options open to a Real Estate month. What’s interesting about this Sitting and waiting: I know salesperson and those options are is that the sellers don’t know it sounds almost ridiculous, many times what keep us from they’re going to sell, but doing what it takes to succeed. Let’s but a major portion of the Silicon Valley knows agents in the industry look at some of the options. they’re going to sell! goes to the office every Purchasing internet leads: day, sit at their desk, Going to work This is a very common trend today and wait for somebody every day and and one that is, in most cases, to call them to come list earning it: Do it the expensive. The problem with internet their home. old fashioned way! You know leads, of course, is the majority are what I mean by this, but most of the potential buyers and today, we have Database lead generation: a shortage of inventory. So, this isn’t A lot of people will tell you, and it’s time, you don’t really want to hear it.

Daily calling on For Sale by Owners and a great option. quite easy to believe, that you Expired listings in your area. Making can turn your database into Spending money phone calls around your listings a large and productive on branding and sales promoting what you’ve Real Estate business. This and marketing: accomplished. Knocking on doors would be the case if you This means trying to around your listings and sales, again have 500 to 1,000 names get people to know who promoting what you’ve accomplished. in your database, you work you are so they call you. your database on a regular Talking to people every Again, it’s very expensive, but it does work if you can afford the basis, give a lot of good service and day: So many of the options we have available to us are designed provide a lot of value. long term costs.

By: Mike Ferry

T

Buying listing appointment: The latest and greatest way to get an appointment is to hire one of the many companies who claim they can call into your market and, for a small fee of $5,000 to $10,000 up front, set 3 to 5 qualified, motivated listing appointments for you. Does that really make any sense?

Mike Ferry is the founder of The Mike Ferry Organization, the leading Real Estate Coaching and Training Company. Mike has been involved in sales and management for more than forty years, earning an unmatched reputation for success built on a foundation of hard work, dedication to his personal goals, and an unwavering commitment to his clients and their success.

to keep you away from talking to people or, in essence, to keep your productivity at a very low level.

As Real Estate salespeople, we are in the people and communication business.

We have to talk to people on a regular basis. We have to communicate with them in a responsible, intelligent manner and then listen, to see who is going to buy and who is going to sell. When we do this, good things always happen.

The challenge with being involved in constant communication is, of course, the word “rejection.” When you’re in constant communication with people, there is always the possibility of rejection playing a big part in the conversation. The fastest way to get used to rejection is to simply go out and get rejected as often as you can on a daily basis, because once that starts to happen, you discover that the people rejecting you are not personally attacking you, but simply saying they don’t want to move at this time. The more rejection that you receive, the easier it is to accept and the more good leads you generate to take good listings.

Let’s each commit to an individual program of talking to people every day to build our listing inventory and our business. If we do this, we’ll take more listings, have more sales, and generate substantially more income, which is why I know you’re in the business. Learn to enjoy the experience of prospecting to get the maximum enjoyment out of the Real Estate sales business.

one of the most influential people in the entire Real Estate profession. As the foremost expert on Real Estate sales techniques, training and motivation, Mike and his company lead dozens of seminars and retreats every year. Real Estate agents, mortgage professionals’ title representatives, and business executives alike have increased their production and profits because of the Real Estate selling skills and mindset they have learned through Mike Ferry.

For more information or to reach Mike, please write to mike.ferry@

Mike is recognized by the National Association of Realtors® as mikeferry.com or call 1-800-448-0647. www.mikeferry.com

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Las Vegas Agent Magazine | July/August 2014

share it — and they’ll do it more enthusiastically because it’s based on intrinsic motivation rather than obligation.

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If You Do This, Your Emails Might Be Rude By: Adam M. Grant

W

hen we walk up to introduce ourselves to strangers, we intuitively follow basic cultural rules of politeness. Don’t launch into a monologue about yourself. Don’t look over their shoulder to see if someone more important is nearby. Don’t invade personal space, or you’ll be branded as a close talker.

On email, though, it’s the Wild West. The internet and social media have made it effortless to contact strangers: even many influential people are just a click away. When I speak with influencers, they are often shocked by the everyday rudeness in emails from strangers. What does it take to avoid alienating the very people with whom we’re hoping to connect? Here are nine rules for polite email outreach: Don’t ask strangers to…

1

Acknowledge that they received your email Electronic return receipts are a thing of the past, and I know many people who interpret them as a sign that you (a) are paranoid, (b) have an inflated sense of your own worth, or (c) have just emerged from a 20-year coma and are unaware of mailer-daemons and delivery status notifications. If your message goes unanswered, you can always

resend it a couple of weeks later.

2

Provide feedback on something you’ve created If you’re seeking input on a product, service, technology, document, or idea, it’s an awful lot to ask a stranger to engage with your work and comment on it. Whereas feedback requires a lot of effort, advice can be much less timeconsuming. Try asking for guidance on a specific question or dilemma that you’re facing, and you’ll be more likely to get a response.

4

Jump on a call today or tomorrow If you’re asking the favor, the onus is on you to be flexible. Ask if they might be willing to talk sometime in the next month or two, and let them suggest some times.

5

Name some times for a meeting It’s a red flag when people feel entitled to a face-to-face conversation. A friendlier option is to ask strangers if they’re willing to meet, or if there’s a more convenient way for them to communicate with you.

6

Introduce you to specific people in their networks It’s not fair to ask people to put their relationships on the line for someone they don’t know. Instead, ask if they know anyone who might be a good source of insight on a particular topic, and they may suggest a person who they feel comfortable connecting. After strangers respond to your initial message, don’t…

Share your content on social media What if they don’t like your material?

An explicit request to circulate puts people in an awkward position: they can say no and look rude, or drop the ball and look disorganized. It’s more polite to just send them your content along with a sentence about Email them every day — why it’s up their alley, and end it or even every week there. If they like it enough, they’ll Stalker alert! People sometimes

Adam is a Wharton professor and the author of Give and Take: Why Helping Others Drives Our Success. His Twitter handle is @AdamMGrant, his free newsletter is at www. giveandtake.com, and his dentist is Michael Smith, DDS. Reprinted from LinkedIn, with Adam’s kind permission

7

interpret a polite reply from a stranger as an offering of friendship. If you’re tempted to reach out too regularly, try saving your points in a draft email, and then prune at the end of the month. Intermittent reinforcement can be a powerful thing.

8

Immediately introduce them to someone else This can come across as using your new found access to gain status or influence with the third party. The safest bet here is to simply ask for permission first: “I thought you two might enjoy a chat for the following reason. Are you interested in connecting?”

9

Invite them to collaborate You just proposed marriage on the second date. Try having a dialogue first, and explore whether working together might prove mutually beneficial.

All I Ask Of You Thanks for reading this post — I just have a few requests. Will you please like it so I know you read it, and share it on all of your social media platforms? I await your comments on the best parts of this post and how I could have improved it; let’s discuss by phone today.

I’ll drop by your office Monday for lunch. That will be the perfect time for you to introduce me to your boss’ boss.

To firm up the plans, I’ll check in with you again tomorrow. In the meantime, I’ve sent an email introducing you to my dentist. He’s great, and I know you’ll be very interested in his work, so I gave him your mobile number. Oh, and we should totally write together — you’ll learn a lot from me.

Finally, please rate my wife on www.hotornot.com.

Gladwell’s favorite social science writers.

Author of GIVE AND TAKE, a New York Times bestseller translated into more than two dozen languages and named one of 2013’s best books by Amazon, Apple, the Financial Times, and the Wall Street Journal-- as well as one of Oprah’s riveting reads, Fortune’s must-read business books, Harvard Recognized as Wharton’s top-rated professor, one of Business Review’s ideas that shaped management, Forbes’ most dynamic BusinessWeek’s favorite professors, one of the world’s social innovation initiatives of the year, and the Washington Post’s books top 40 business professors under 40, and one of Malcolm every leader should read.

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Las Vegas Agent Magazine | July/August 2014

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‘‘

While I understand that the business is still relationship based, it is the new blood of leaders in our market that are assisting me in staying relevant in today’s market.”

Where are we going? and excitement in the future team is where are we investing our most that the business is still relationship based, it is the new blood of leaders members. These above thoughts precious commodity, time? in our market that are assisting me t has been said that leadership are generally accepted as common I would like to thank all of the in staying relevant in today’s market. is the ability to lead and guide principles within the faculty of leaders, some alive and some deceased, leadership training across the globe! others to a place they have never who took the time to invite me to an With all of that being said, the been before. In a nutshell, this is the What is seldom talked about is the event of one kind or another that question for right now is what type leadership challenge and this is what importance of the first two to three changed and molded my real estate of leader are you? How long in the true leaders do. people to buy into the leader’s vision. career. In the olden days, 1980’s and business? What do you bring to the Some would say that, providing these 90’s, I owe a debt of gratitude to the party? If it’s true that leaders lead When we think about what kind of first few recruits are influential, it old and experienced dogs that took and guide others to places they have influence one must have to persuade is they that leverage the message of me under their wings and pointed me never been before, where are you others to follow, the answer seems the leader and invite and encourage in the right direction. There seemed taking the people around you? simple: others to join the cause. The sharp to be a moral compass with that We all have a responsibility to leader validates his/her first few group which was clear and defined.

We generally will follow someone recruits and is genuinely grateful for Now-a-days, I owe many thanks to ourselves and to those we influence with whom we feel inspiration and them and sincerely feels fortunate to a younger generation than mine for to be the best that we can. Oh, let’s that has a cause we can believe in, have them on the team. This group continually walking me through the have a bunch of fun along the way and not to mention the ability to help creation feels like a win-win to all maze of the internet, blogging, and let’s help ourselves and those around us understand why that cause is the current and joining members. video technology. While I understand us to be the best that we can be! righteous and that it would be good for us to champion the same cause. As real estate agents, we are JC Melvin has been in the real estate industry since In other words, we become excited invited to one thing after another.

1981 and involved with leadership since 1995. He was about being on the team.

Between CE classes, technology the founding dean of the NVAR Leadership program updates, masterminds and cocktail and his first book, “I think I smell Garlic” is a required Quality leaders usually have the receptions, there are a never ending text book at UNLV in a motivational psychology class. ability to paint the vision clearly to supply of places and events to invest Friend him on Facebook. the group and instill their confidence time and resources. The question By: JC Melvin

I

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Las Vegas Agent Magazine | July/August 2014

0homeowner ssi nce1998

Global Business Promotes Peace discuss future opportunities, but can contact GBC Chair, Evelin Paolillo this experience was by far the most at GBCChair2014@gmail.com. eal estate agents can be meaningful. It reminded them of the Here are some additional instrumental peacemakers by true value of real estate. opportunities coming up: actively participating in the It is within the boundaries of our global real estate market. This is a NAR is doing another “Study Tour” bold statement. However, studies show yards and within the walls of our that free enterprise cultivates friendly houses that we create memories and to Cuba on September 21-26, 2014 relations between nations. There is a bond with our family. Our home is This is a U.S. Government sponsored great deal of empirical data as well that where we anchor our souls. Over trip that is planned and executed by suggests countries who promote home many a mantle is the saying, “Home Friendly Planet Travel to Cuba (Group ownership and personal property rights is where the heart is” and this is true Travel Specialists since 1981). are less likely to be adversarial with whether it’s in the United States or After many years, Americans are fellow like-minded contemporaries.* on a distant shore. As economies become more interdependent again able to travel to Cuba under After a recent trade mission to Cuba, on local to global levels, home a new ‘people-to-people’ program NAR President, Steve Brown came to ownership and property rights authorized by the U.S. government, the realization that while governments along with environmental protection, which provides an opportunity may be different fundamentally and human rights, education, research, to interact with Cubans through ideologically, people are people and pro-business legislation will be educational exchanges concerning art, music, culture, and more. Friendly wherever you go. “Home ownership is at the forefront of conversations.

Planet is proud to be one of the few not just an American dream — it’s in So, how can you be a peacemaker tour companies in the United States the hearts and minds of people across the globe.” At midyear meetings in while cultivating business? Go on a to have been awarded a “People-toWashington, D.C. in May, he shared a mission, whether it’s an exploratory People” license by the U.S. Treasury heartwarming story about his trip with trip of your own or an officially Department’s Office of Foreign Assets Control. Join us for a unique adventure NAR’s Global Alliances Advisory organized trade mission. to experience this island which sits Group.

Participating in a Governor-lead 90 miles off our shores and shares A fellow attendee told of her trade mission last year to Mexico, such an amazing and extraordinary Mother’s family who fled Las Vegas REALTOR® and Global history with the United States! www.

Cuba years ago, leaving Business Committee member, Rena FriendlyPlanet.com. practically everything Levy, CIPS was amazed at how much Azim Jessa, the 2013 Vice Chair behind. They buried Nevada already exports abroad. She their money in the was impressed by our Governor’s of GLVAR’s Global Business backyard hoping devout initiative to attract more Committee, encourages agents to someday to return. business to Nevada by also leading seriously consider this trip. “Cuba She grew up with trade missions to Canada, Korea, China was life changing for me and I would stories of Cuba and her home country of Israel where love for others to see the beauty of and a photo of she is also licensed. “This Mission the island and the people!” her Grandfather’s inspired me to take my business to the next level. Before leaving on the Friendly Planet will provide an home. trip, the governor’s office assesses your escort and translation with a staff On the mission, business in order to facilitate relevant member that has been on this the group was able business to business introductions.” tour before. This particular tour is to visit the site and Rena now heads up the Global Business customized to include real estate connect with the family Committee’s work group on Expo’s and and will most likely be an intimate living there now. While in will be attending France’s real estate group of about 20 to 25 people. All Cuba, they met with leaders association’s annual convention in Paris questions should be directed to Erin and real estate professionals to in December. For more information you Jalon, Friendly Planet, 215-572-9594 By: Tamara Larisa Tyrbouslu

R

or email EJalon@friendlyplanet.com.

This author, NAR President Liaison to Guatemala is planning an exploratory trip to Guatemala the end of September. Guatemala does not have real estate licensure and the industry is not regulated as it is in the United States. There is plenty of opportunity for growth and to effect positive and profound change by collaborating with Guatemalan professionals and developers. This excursion will involve planning meetings for a formal trade mission in the first quarter of 2015 which will include a global real estate conference and Habitat for Humanity build. Feel free to email Tamara@ UniversalRealty.com for details.

If going abroad is not in your current budget, participate in the Global Business Committee’s Las Vegas Trade Mission, September 8th. You will be able to network with international real estate professionals and investors without leaving the valley. An added benefit is that you will learn more about your market and how to promote it globally.

Attend a Global meeting the 3rd Wednesday of the month at 10am at the GLVAR to learn more about how to take advantage of this unique opportunity to diversify your business.

Become part of the solution, be an agent for peace, expand your business beyond border s, explore global markets, promote home ownership and property rights.

*Suggested Reading - The World is Flat by Thomas Friedman

Broker-Salesperson, Tamara Larisa Tyrbouslu, CIPS, TRC is Director of Business Development with Universal Realty. Tamara is a founding member of the GLVAR’s Global Business Committee, serving as Vice Chair and Chair and is currently in her second term as Vice Chair for NVAR’s Global Business Committee. She is an instructor for ICREA’s Transnational Referral Certification and NAR’s Certified International Property Specialist Institute and was appointed NAR’s 2014 President Liaison to Guatemala. She teaches Feng Shui for real estate professionals as well as continuing education and post licensing coursework. You can catch her Tuesday mornings at 9:30am at Universal Realty for a power hour of business development where she inspires agents to be happy and productive or connect with her at www.GlobalPropertySeminars.com.

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Las Vegas Agent Magazine | July/August 2014

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Are You Hooked on Electronics?

By: Dr. Loren Ekroth, Ph.D aka “Dr. Conversation”

D

ig it al com mu n icat ion has changed the world, and its effects have been both positive and negative. (This article will be limited to the upsides and downsides of personal communications, that is, electronic conversations by emailing and texting personal communications vs. face time and telephonic conversations.)

Upsides You and I can communicate personally with others all around the world, and we can do this at almost no cost. For example, I “converse” by email with friends and relatives in Thailand, Uganda, Finland, and Sweden. All of my messages are asynchronous, which is convenient due to time differences. (My cousins prefer I not phone them at 0300.)

When we agree on a mutually convenient time, we can use Skype, which offers an approximation of face to face conversation.

and security emergencies, we can get immediate help. (Last month I foolishly locked my keys in my car, and within 20 minutes, my road service company was with me and unlocked my door. I was able to drive to an important appointment across town.)

Downsides Emailing and texting cannot replace face time or voice communication because it lacks nuances. Mothers complain to me that their daughters away at college refuse communicating by voice, saying instead “Mom, if you want to communicate with me, just text me.”

However, feelings can be concealed when texting, feelings that a mom can hear in a daughter’s voice. Is the daughter worried, depressed, fearful? A mother could pick up those feelings from the voice.

As one woman wrote to an advice columnist, “I have a close friend who is going through a tough divorce. She often sends me long text messages about her horrific situation. I have asked her, on many occasions, to call me or come over to my place to talk because I find it difficult to be empathetic in a text reply. But she ignores me and continues sending long and repetitive text messages. What should I do?”

We can send greeting cards and letters with personal messages to our lists of friends and relatives, and we can easily publish newsletters and blogs to a wide range of people Some people are “always on” and interested in what we are thinking. are addicted to checking their email, (This “Better Conversations” newsletter goes to nearly 7,000 sometimes 100 times a day. What are they hoping to find, or fearing they subscribers in 81 countries.) might miss? A note expressing how We can research and learn what’s important they are in someone’s life? important to us for our personal and A message that they won the lottery? work lives. For example, I can prepare A perfect job offer? for a medical appointment by learning In this past month, I did some the latest treatments for a condition research by observing patrons I’m experiencing, then talk about that leaving my public library (whose information with my physician. A few rules prohibit using cell phones.) decades ago, this was not possible.

During 15 minutes a day for 5 In case of medical, automobile, days, I sat on an outside bench to Dr. Loren Ekroth is a speaker, trainer and coach to corporations and government agencies nationwide.

Founder-director of the Natural Learning Center of Hawaii, a personal development training organization, among many other positions and accolades.

watch folks exiting and heading to their cars. My unscientific findings?

About 50% of the women and 30% of men checked their phones within moments of stepping outside. Still others came outside to check text messages or make calls, then went back into the library.

time conversational skills, they don’t learn them.

With the advent of television in the mid-20th century, some people became addicted. Some families allowed the TV to be on and near the dinner table so they could watch instead of conversing. “Shh, I can’t “Anything that you can become hear the program.” obsessed with, and you do so much “Couch potatoes” were sedentary that you don’t do the things you need to do with family, friends, school, creatures who gained weight but not job — ­ that can be an addiction. And much useful knowledge. Steve Jobs texting absolutely can qualify,” wrote commented that “the networks are clinical psychologist Dr. Dale Archer. really in business to give people what they want.” (Thus, soap operas, Living online is game shows, and sports.) changing our brains Neuroscientist Susan Greenfield What to do? Some thoughts Be as conscious of you r writes that the brains of young people who spend their lives in front information diet as you should be of of a screen show under-functioning your food diet. By all means, avoid in the prefrontal cortex. And “information obesity.” “digitally addicted children often Spend time in nature with no manifest autistic behavior, including electronic connections. (One columnist withdrawal . . .and irritability.” wrote about his 30 days in the woods In his 2011 book, “The Shallows: away from and phones or laptops.

What the Internet Is Doing to Our After almost a week of “withdrawal Brains,” Nicholas Carr concluded symptoms,” he began to feel his that “the glimmering realm of emotions and enjoy his senses. After one inter r uption and dist raction month away, he returned transformed. impedes the sort of comprehension Parents, set some rules. “No and retention that ‘deep reading’ phones at the dinner table,” and engenders. (What happens when “only X number of hours per day your brain has to prepare for an important exam, or you have to online.” Instead, “Go out and play.” understand some critical information Adults, come to some agreements for your job written in dense text?) about using electronic devices when In “The Information Diet: The Case meeting or dining with friends or for Conscious Consumption,” Clay associates. (Some restaurants are Johnson warns against “information willing to check your phones as well obesity” resulting from unconscious as your hats and coats.) consumption. A reviewer commented Follow the “platinum rule” when that “Unconscious consumption communicating with other humans. squanders our precious attention.”

Message them as they, not you, If adults don’t exercise your prefer to be messaged. Therefore, interpersonal skills, they get rusty. daughter away at college, don’t text If adolescents don’t practice face your mother. Talk to her!

As a Career/Life Counselor for businesses and professionals, Dr. Ekroth has over 35 years’ experience helping people achieve greater competence and success. Published author of over 500 electronic articles in “Better Conversations” ezine, Dr. Ekroth holds a Ph.D., University of Minnesota, in Intercultural Communication, and has done post-doctoral study, Psychosynthesis at the Institute of California.

Founder of, Better Conversation Week, celebrated since 2002. Creator of “Conversation Coaching Clubs,” a For more information about Dr. Ekroth’s work, please visit his website at worldwide self-help group for building conversation skills. http://www.conversationmatters.com

Published with permission of Dr. Loren Ekroth, author of “Better Conversations” newsletter. Complimentary subscriptions at www.conversationmatters.com

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Las Vegas Agent Magazine | July/August 2014

cover story

What happens when you combine an unwavering dedication to pushing personal boundaries with an eye for opportunity, flawless instincts and a hardcore commitment to follow-through?

Story By: Marek Biernacinski P h o t o g r a p h y B y : J a m i e T h o ms o n

B

orn in New Delhi, India, Vandana Chima-Bhalla explains that her first name is pronounced vuhn-duh-nah and in Hindi means “worship or to pray”—and then jokes, “I’m sure my folks were praying a lot after I was born.”

Of English and Indian ancestry, Vandana’s father moved the family from India to the United States when she was just eight years old.

Her family moved into a single home with her uncle and his family.

While this is a common enough living situation in many cultures, Vandana was keenly aware of the differences that set her apart from her new American classmates.

though my parents never allowed us to fully feel their struggle, my two younger brothers and I began to work to help the family, while saving for our own futures. I wouldn’t say my cultural background has necessarily influenced my choices, the financial struggles we faced growing up, however, definitely did.”

This hardship motivated Vandana to strive for success, and she saw education as the road that would take her there. Armed with a strong work ethic and drive for success, she knew that her future would require intense dedication that could conflict with her parents’ wishes.

“I got my associates degree, then my bachelor’s, then my master’s and on to law school. I feel like education is never wasted. The whole time, my parents were always saying, ‘What are you doing? Why aren’t you married yet?’

“My parents were very traditional in certain things. I wasn’t allowed to wear skirts or talk to boys when I was younger. My parents were first generation Americans, still trying to understand the culture in the US. Although she started her pro But at the same time, some of those fessional life as an elementary restrictions are what helped shaped school teacher (her master’s me into who I am.” degree is in education), The family dynamic shifted Vandana dreamed of becoming a district drastically in 1990. attorney, and even “Everything changed,” she says. worked as a paralegal “My parents went through financial in the DA’s office hardship. I had been in private before taking the schools most of my life but transferred LSAT and entering to a public school for the first time. law school. Soon, And although that might not seem her focus shifted after like a big deal to most, it was for being introduced to the my parents and my family. Even world of real estate investing while

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Vandana Hair and make-up by Jeannine Loewy / Montage Hair Studio

July/August 2014 | Las Vegas Agent Magazine

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and in true Vandana fashion, she now. I can take a real vacation and adapted her methods accordingly. spend time with my family.”

“When you have an HUD account, residential has to be the focus. I went from selling commercial to luxury high-rises and million-dollar plus homes to HUD properties. There’s not too much these types of real estate practices have in common, except that they use the MLS. Not one thing lined up; they were significantly different in many ways. I’m only now starting to get back into luxury, but where ‘luxury’ used to mean millions of dollars or more, now it’s maybe half a million and more.”

Photo by www.MichaelHelms.com

“I came back after six months at home with a newborn and the game had entirely changed,” she explains; a feeling that was widespread among the real estate industry during those long, uncertain weeks and months.

“Trying to get back into real estate again in 2010 was one of the biggest “It turned out I knew more than struggles of my career. But it was also my agent,” she says wryly. This one of my biggest accomplishments.” was the push she needed to leave Seeing that the real estate law school and pursue a career in real estate instead. environment had changed dramatically so quickly, Vandana turned to a When Vandana first dipped her toe long-time friend and mentor, Valerie in the Las Vegas real estate scene in Grijalva of Chicago Title for guidance 2003, business was already booming. on how to adapt.

“My business was crazy. So crazy in fact that I planned my first pregnancy “With her knowledge of the trending around the state of the market, and market, Valerie stressed the importance even on bed rest, I closed more of focusing on REO’s and Short Sales contracts during those months than at and helped guide me during that any other time in my career thus far.” transition. I began to travel a lot, went to every conference imaginable and After learning the ropes while networked like crazy. I started traveling working with other brokers, she more than I was home.” eventually decided to strike out on

By October 2010, Vandana’s singleher own.” I wanted to open my own brokerage, handle my own real estate,” minded focus paid off; she landed she says. Vandana’s gamble paid off; a coveted HUD contract and, at she was soon selling high-end luxury the same time, expanded her EXIT real estate throughout the valley, office with a merger. “My business including such notable properties as and career skyrocketed…I went from City Center and Turnberry Towers. around one to three listings per month to more than twenty a month. I was In 2009, Vandana, then in the final dedicated and quite frankly just — weeks of her pregnancy with her second unstoppable.” son, signed a contract to open her own Vandana quickly discovered franchise and a week later, gave birth.

Both events occurred just barely ahead that the new REO landscape required new methods as well of the housing market crash. researching properties for a new business venture. Vandana quickly realized that she had to learn everything she could about commercial real estate, and began seeking out anything and everything related to it in order to be better informed.

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Las Vegas Agent Magazine | July/August 2014

This deliberate shift in Vandana’s work-life balance makes more room for her number one priority: her two sons. As a single mother, “the weeks that I have my sons, everyone knows my work day ends at 2 p.m. My sons and I cook together, we clean together, and we do homework together. I take them to karate—they’re both just two belts away from earning their black belts and we spend quality time together. I bring them to a lot of charity functions with me. I’ve taught them from a young age how important it is to give back to our community.”

This new business perspective, combined with a personal evolution In fact, it was the birth of her oldest inspired by some challenges in her son in 2007 that inspired Vandana’s private life, culminated in several own renewed commitment to major changes to Vandana’s world. philanthropy work. “Every Halloween, my sons and I do Sight Night. We “My contract with EXIT was coming put up flyers and collect sunglasses up for renewal and I needed to decide and eye wear instead of candy, then whether to continue with them or move donate them to LensCrafters for their on. I was being heavily recruited by OneSight Foundation. Then Sight several companies when I reconnected Night eventually grew into toy drives, with a longtime friend and colleague, where my company and I joined forces Brandon Roberts. Brandon and I with community leaders to provide worked together many times in the over 1000 toys to the children of Tom past. I asked him why his company Williams Elementary School, 5 years hadn’t recruited me and he said ‘I didn’t think you’d be interested in making a change.’ That was over the weekend, and on that Monday he extended an offer through his company, Signature Real Estate Group. After contemplating all my many options, I told my team it was time for a change.

“A lot of my success comes directly from the skills I learned and the people I met at EXIT, and if I ever go back into a franchise, it’s the first place I would go. We parted on very amicable terms and EXIT made it clear they’ve left the door open. A large part of my decision had to do with quality of life. As a single mom, I need to focus on myself and my children. With Signature, I have a support network

in a row; and Family Promise where friends and I cook once a quarter for displaced families while helping them get back on their feet.” Vandana also mentors for the Clark County School District, working with high school seniors who are struggling to graduate from high school. Last year, her mentee not only graduated but applied for and was admitted into two colleges. Additionally, Vandana was nominated two years in a row as Woman of the Year for the Leukemia and Lymphoma Society for her charity efforts in fighting blood cancers.

Actively searching for more ways to give back is partially what led Vandana to become involved with the Greater Las Vegas Association of Realtors (GLVAR). She admits it took her about five months after being elected to the Board of Directors to really understand and appreciate it.

“I didn’t know what the Board did.

Why do I have to pay these dues? What does writing this check do? I didn’t understand. Now that I’m on the Board, I see from the inside how much GLVAR is actively involved in the community, involved with homeowners’ rights, REALTOR® rights, legislation and law making that affects not just Realtors but so many in our community. Being on the board completely changed my perspective in realizing how vital it is to really be involved. I didn’t realize that before. I was always very involved in different committees, but never understood how they all fit together.

Now, it frustrates me how little people actually know about how their vote puts people in charge of setting standards for our entire industry. All I can say is that if you want to see a change or find out more, then get involved.”

Photo by www.MichaelHelms.com

geography lesson, all is good and now, it’s something that my AREAA peers and I joke about. AREAA has been instrumental in my business, by giving me tools and support, and assisting me be more involved with our community.”

Even amidst her various leadership roles, serving on various organizations’ boards of directors and her 7-Eleven convenience store ownership, Vandana has managed to find the time for other passions as well: her physical health and that of her children.

“Health and fitness play a significant role in my life. They really weren’t before 2011. I joined every gym in existence but never went because I preferred working out at home and sometimes, not working out at all,” she says giggling. “Then I got involved in CrossFit. CrossFit is very high intensity “When I first started getting and the workouts were so different, I involved with AREAA, many people was hooked. I have a personality that were surprised because they didn’t needs a varied, high energy workout.” quite understand that India is actually Since Vandana never does in the Asian continent therefore making me Asian. After a quick anything halfway, she’s now a This renewed recognition of the importance leadership plays within her industry makes Vandana even more excited about her new role as the President-Elect for the Asian Real Estate Association of America (AREAA).

CrossFit Level I Certified Trainer.

“When I’m interested in something, I want to take things not just to the next level, but to the ultimate level.

The competitive aspect of CrossFit is really what draws me — every day, seeking constantly to be better.

I wanted to teach my sons a healthier lifestyle and needed to increase my own energy to keep up with my higher activity level so I went and became additionally certified to teach as a CrossFit Kids Trainer.”

Does she have any advice for other agents?

“A lot of agents are too focused on just their own business. They forget about the bigger picture. By getting involved in organizations like GLVAR, you’re not only helping your own business but you’re also helping other people and making a difference in our industry and community. You connect with people going through the same struggles, facing the same challenges. We need to be around like-minded people and I can attest

“By getting involved in organizations like GLVAR, you’re not only helping your own business but you’re also helping other people and making a difference in our industry and community.”

to the fact that these types of trade organizations help you focus more on what it is you’re trying to achieve, personally and professionally.”

As for her own future, Vandana doesn’t have a definitive answer.

“Do I have long-term goals? Of course I do. I actually have a bucket list which includes traveling the world and giving my children tons of experiences.” But while her children are her focus, it’s important to strike a balance with oneself as well, she says.

“I am my own person separate from my children,” she says. It’s important to be able to know when and how to prioritize one’s own life goals. “I look at my life as being in progress, constantly evolving.”

In the grand scheme of things, though, Vandana says ultimately her goal is to be open to anything that comes her way, and credits her success to dedicating herself to whatever she does with her heart and soul.

“When someone says ‘I don’t know if that’s possible,’ I say ‘Challenge accepted’ and proceed accordingly.”

You can reach Vandana by emailing her at Vandana@ RealtorVandana.com

July/August 2014 | Las Vegas Agent Magazine

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Perfect paint job without a sprayer By: Mike Klimeck

Y

ou don't need an airless sprayer for flawless results.

All you need is a steady hand, a quality brush and patience.

You get brush marks on a paint job for a couple of reasons. Latex paint dries fairly quickly, and if you are brushing it on (as opposed to spraying), the brush marks may dry before the paint has time to lay down.

You can extend the drying time by using a paint conditioner called Floetrol. You can buy it at any home center or paint store for about $8 per quart. Follow the directions on the label for the proper amount to add. This is a great product when painting conspicuous wood molding, doors, etc.

Don't add it directly to your gallon bucket. Use a separate bucket (called a "cut" bucket) to mix a small amount of paint and Floetrol.

Something around the size of a coffee can works well. You want to have at least 2 inches of the paint mixture in the bottom of the can.

Before you start slapping paint on the trim though, there is a little preparation.

A must for getting a clean cut-in line (the line that separates the colors from your walls to your trim) is caulking. Lay a small bead of caulking

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‘‘

A must for getting a clean cut-in line (the line that separates the colors from your walls to your trim) is caulking.

where the trim meets the wall.

Smooth it out with a wet finger and you will get a razor sharp line. Without caulking, you will have to fight all the tiny bumps in the texture.

You have two choices to make straight lines: a steady hand or masking tape.

Once the tape is down, you can start to paint the trim. Use a quality angled synthetic-bristle brush for latex and start in the corner with the latex-Floetrol mixture overlapping the tape. Pull the tape after the paint has had time to firm up, but before it completely hardens. Depending on the temperature and humidity, you will pull the tape somewhere between 20 minutes and two hours. You can always test on an inconspicuous area and lift a little of the tape off to check the appearance first.

I know lots of people who use tape to make the cut-in line. The only danger is that the paint will sometimes seep under the tape and ruin the line.

If this happens, you can get an artist's paint brush (one with about three hairs If you have steady nerves, you in it) and touch up the line. can forego the tape, but this isn't for If you are going to use tape, use beginners. With the angled brush, inch-wide blue painter's tape. It's get about 2 inches of paint on it, tap more expensive (about $3 per roll) the sides of it on the inside of the cut but it will lift off easier with less chance of taking the paint on the wall with it. You can also lift it off and reset it and it will still stick.

Make sure that the leading edge of the tape is perfectly straight with no ripples or bubbles and that you use one continuous length. If you stop midway down the wall and have to add another piece of tape, you will see the splice. This will be evident if the colors are contrasting.

Las Vegas Agent Magazine | July/August 2014

bucket and gently scrape the excess paint off the lip of the bucket. Take the brush and push it in the corner and steadily pull it across the edge of the trim.

Watch the bristles on the outside edge since these will form the line.

You may have to twist your wrist slightly to guide the brush along the caulking. As you approach the end of the trim, turn the brush over, stick it in the corner, and paint in the other direction until the paint overlaps.

Paint the borders of the trim first and then fill in the field.

If you are going to continue painting the next day, make sure you thoroughly clean the brush or some of the bristles will harden and it will be like painting with a dinner fork.

You can also throw the brush in a freezer bag and stick it in the freezer. Just thaw it out for a half hour before you use it the next day.

Mike Klimek is a licensed contractor and owner of Las Vegas Handyman. He has written hundreds of newspaper columns and magazine 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 a weekly column for the Las Vegas ReviewJournal & Sun since November 2000. Watch for Mike’s regular column here and in the Las Vegas RJ.” He can be reached by email at: questions@pro-handyman. com or by phone at (702) 896-0000.

AREAA Newsletter Letter from the President

A

s Chapter President for AREAA Las Vegas, my vision is to expand the realm of influence and reach outside of the real estate trade organization to raise awareness, membership and sponsorships through involving key influential business leaders in high quality educational and networking events designed to attract industry leaders and those aspiring to build their careers in the ever changing real estate market.

Our annual luxury event , titled Elevation this year, was held in a private airplane hangar last month and incorporated luxury brands and expert leaders in varying fields. We were honored to have panelists from Vegas Magazine, Lamborghini, Wynn/ Encore, Venetian/Palazzo, and SK+G sharing their experiences and advice for personal development and mastery.

There is nothing better than to have the opportunity to not only meet and network with such individuals, but to do so surrounded by incredibly lavish toys such as a private jet, helicopter and Lamborghinis. I am proud to share that the event also included giving back to our community with a donation of $10,000 to Three Square Food Bank and will provide 30,000 meals to those in need.

Las Vegas is seeing significant positive indicators of a strong resurgence taking place this year. At our recent Real Estate Economics Update, Trends and Mixer Event held at the Brooklyn Bowl, we presented some of the contributing factors to our Las Vegas market normalizing. The distressed market is significantly down and new home availability is increasing, we were pleased to have some of the top valley builders participate and share all the communities they are creating as part of this growth. Along with new homes, nearly $8 billion in new developments or large scale renovations on the strip, Downtown, Henderson and Summerlin are abounding. Just a few of the notable projects include the opening of The LINQ and Cromwell, two upcoming resorts, The Genting and SLS, and expansions such as the Mandalay Bay Convention Center. It’s an exciting time to be part of this changing climate and AREAA Las Vegas is at the forefront of bringing motivated, influential people from varying disciplines together at events such as this one.

This year’s momentum is only picking up and there are a number of upcoming events that I’d encourage my peers to experience. On August 7th, as part of the Nevada Real Estate Alliance, a collaboration of the eight most prominent real estate organizations in the state, we will be at View Wine Bar & Kitchen in Tivoli for the Nevada Real Estate Mega Mixer with special guest Congressman Joe Heck. The premier event of the year is the AREAA National Convention, “Reaching New Heights,” taking place right here in our city at the Bellagio, September 5th - 7th. Attendees will have the opportunity

About Founded in 2003, the Asian Real Estate Association of America (AREAA) is a nonprofit professional trade organization dedicated to promoting sustainable homeownership opportunities in Asian American communities by creating a powerful national voice for housing and real estate professionals that serve this dynamic market.

AREAA will accomplish this mission by: Advocating for policy positions at the national level that will reduce homeownership barriers facing the APA community.

n

Increasing business opportunities for mortgage and real estate professionals that serve this growing community.

n

Who We Are AREAA’s membership represents a broad array of real estate, mortgage and housing-related professionals that serve the diverse Asian American market. AREAA is the only trade association dedicated to representing the interests of the Asian real estate market nationwide.

Membership includes housing and real estate professionals of all cultural backgrounds and is open to those who support the mission of increasing sustainable homeownership in the Asian community.

to learn how to elevate their business through top rated educational sessions featuring innovative solutions and new business approaches while connecting to top industry leaders and fortune 500 companies at networking events.

Early bird registration pricing is available now and more information can be found at www.areaa.org/convention. I look forward to what the remainder of the year has in store for us and hope you’ll join us in this venture of success.

Thank you, RANDY CHAR 2014 AREAA President

AREAA Economic Update at Brooklyn Bowl

Photography By: Ray Alamo Photography

Pitfalls and Dangers of Joint Tenancy for the surviving spouse or surviving death, her child from her prior partner for the assets received from the marriage is not one of his heirs at law ost real estate owned by more than one person is held as “joint tenants deceased spouse or partner. and inherits exactly zero from him. with rights of survivorship.” This is more or less the default setting If the intent of the couple is to This can easily be done by simply for holding title, especially among married and unmarried couples.

Unfortunately, it is probably the worst way to hold title, for a number of reasons: creating a standard A/B Trust. The provide for all three children, the best surviving spouse maintains complete way to accomplish this it to hold their n Probate is deferred, not avoided control over use and benefit of the property in a living trust. n You can lose tax benefits on appreciated property held by married couples assets throughout his or her life, yet n You lose the opportunity to provide asset protection for the surviving spouse Never Hold Property in they are 100% protected. n You lose the opportunity to provide asset protection for your heirs.

Joint Tenancy with a Child n You lose the opportunity to provide for children from prior marriages Loss of Asset Protection If joint tenancy is bad for couples, for Your Heirs it’s much, much worse between a To illustrate, if a couple held property Won’t Joint Tenancy Similar to protecting your assets parent and a child. Why? in joint tenancy with a built-in capital Avoid Probate? gain of $100,000 and spouse #1 dies, for your spouse or partner, your entire 1. Your property can be attached by No. It merely defers probate until when the survivor sells the property, estate can be held for your heirs or any creditor of your child. the death of the second person. There there is a $50,000 capital gain. If the beneficiaries 100% protected for them will still be a probate required upon property were held as community throughout their lives. This inherited If your child gets divorced, is in a property can remain their separate car wreck, has unforeseen medical the death of the second joint tenant. property, the gain would be zero. property regardless of whether they expenses, has a business failure, files The best way to avoid probate is to are married or single. It can serve bankruptcy, etc., your property can be create a revocable living trust to hold How Can You Avoid as a built-in “prenuptial” agreement attached by the creditors of your child. title to your assets.

Capital Gains? maintaining all inherited assets as their How you avoid capital gains is separate property in case of a divorce. 2. You lose the ability to eliminate Loss of Tax Benefits to hold the property as community capital gains on appreciated property. for Appreciated Property Assets can further be 100% property instead of separate property Held by a Married Couple What’s bad for couples gets much protected from any and all claims (joint tenancy). worse when children are involved. If against your beneficiaries throughout Under Nevada law, property held There are two main options to have their lives. the surviving spouse (mom or dad) in joint tenancy is deemed to be your assets become a community holds his or her assets in a living trust, separate property owned one half by This can be very simply and easily 100% of capital gains are eliminated property: (1) hold your assets in a living each spouse, not community property. trust; or (2) hold title as community accomplished by setting up trusts for on appreciated property. The kids can Community property has distinct tax property with rights of survivorship your children or other beneficiaries inherit all completely income tax free. advantages over separate property, within your living trust. You lose (CPWROS). NRS 111.064. most notably a step-up in basis on For joint tenancy between a parent all these opportunities for asset both halves of the community property The Nevada legislature enacted this protection if you merely hold your and one child, half of the capital gains upon the death of the first spouse. statute clear back in 1981 to afford us properties in joint tenancy. are retained. When two children are on title, two thirds of the gain is as Nevada residents the opportunity to The effect of this is that a surviving have the right of survivorship feature No Protections for Children retained. For three children, three spouse can sell any appreciated of joint tenancy while retaining the fourths of the gain is retained, etc. from Prior Marriages community property after the death favorable tax treatment of community of his or her spouse and all capital property. Yet, this favorable way to One of the real, hidden drawbacks Conclusion gains are eliminated. All proceeds hold title is rarely used. of holding property in joint tenancy Holding property in joint tenancy are tax-free. It just doesn’t get any is that children from a prior marriage is likely the worst possible way better than that – no taxes. will likely get disinherited.

Loss of Asset Protection to hold title to property. Yet, for Surviving Spouse It’s a completely different result for For example, suppose a couple has amazingly, that seems to be the sale of property held in joint tenancy.

As stated above, the best way to two children together and the wife standard in our community. Holding Only one half of the property receives a avoid probate is to hold title to your has a child from a prior marriage. title to your property in a living trust stepped-up basis. Stated in another way, assets in a living trust. Not only The wife dies first. All property held can provide far greater protection only half of any capital gains will be will this avoid probate, but you can in joint tenancy automatically passes for you and your heirs and avoid the eliminated. Half of the gain is retained. provide complete asset protection to her husband. Upon his subsequent myriad problems discussed above.

By: Robert L. Bolick, Esq.

M

Robert L. Bolick has been practicing for over 30 years in the areas of asset protection and estate planning. Mr. Bolick has an “A/V” rating from Martindale-Hubbell, the highest professional rating for an attorney. He is listed in the Top Lawyers of 2013 in Nevada by Vegas, Inc. He is also one of the “Nevada Super Attorneys” (top 5% in his field). He was named Outstanding Estate Planning Attorney of the Year by the Nevada Business Journal. He has authored numerous articles and publications on asset protection and estate planning, and is a frequent lecturer on these topics.

Mr. Bolick is a member of the State Bars of Nevada, California, Arizona, Utah and Hawaii.

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Las Vegas Agent Magazine | July/August 2014

Robert L. Bolick, Esq. Durham Jones & Pinegar 10785 West Twain Avenue, Suite 200 Las Vegas, NV 89135 (702) 870-6060 rbolick@djplaw.com

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Tax initiative could have negative impact By: Kolleen Kelley

S

ummer Greetings from your State Association. We have been working on getting the message out to defeat the Margin Tax Initiative.

Funny that those who are in favor of this issue call it “The Education Initiative� when in reality, it is poorly written with no guarantee that the money raised will end up with the school district. If passed, the legislature would not be able to change or touch that initiative for a period of three years. It also has a negative financial impact on the real estate industry. The brokers have been working off a very small margin of profit since the downturn happened.

This tax would wipe out any profit that a real estate company would see. That being the case, the broker would have to pass that 2% tax on to their agents who in turn would pass

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it along to their clients. this is not the way The agents have had to garner the money their income impacted needed to help the by the banks on both the education system. We foreclosures and short have an extremely sales by having their fragile economy here income reduced. So that in Nevada and any hardship is something financial impact on that an average agent Kolleen Kelley any one of the many 2014 NVAR President cannot overcome. A professions could help vegaskelley@aol.com very small company to upset the economy may not meet the again and we could be threshold for the tax, so back to square one. in that scenario, there Rocky Finseth, our would be an unfair Chief Lobbyist, and Jenny advantage in what the agent would have to pass on to their client. Reese, Director of Government have been giving The tax, if passed by the voters in Affairs, presentations of the Margin Tax November, will have to be paid Initiative to REALTOR groups. whether or not there is a profit made.

We are actively getting out into the We are certainly not against communities to help the general education as it impacts the very public understand this initiative. clients we help with housing, but A presentation was recently given

Las Vegas Agent Magazine | July/August 2014

to the Realtors in Elko. It is our resolve to get as many of our Realtor members registered to vote and then turn them out to vote against this initiative. We are 13,000+ state members and certainly make an impact when we vote.

If your company would like a presentation of this initiative in your office, please contact Isabelle at Carrara Nevada at isabelle@ carraranv.com.

We have joined the coalition to defeat this initiative with Gaming, Retail Clerks, Mining, AFLCIO, Chamber of Commerce, senior citizens groups and that is just to name a few.

Your State Association is asking that you get registered to vote and exercise your right to vote and help defeat this Initiative in November.

Making Old New Again

smaller bedrooms. I put it in the entry hall where it can be appreciated and it makes an impressive statement. Some of the pictures and mirrors from the bedrooms were moved around also.

Using “Accent” mirrors over dressers rather than the ones that match the dresser add interest to a bedroom.

Grandparents. Display them with pride. They will most likely give you a good feeling when you look at them.

pieces of upholstery and artwork If you are one of those people gave her parent’s old things a “Fresh” who love a lot of silk arrangements, e all have things we love in new look! they too can be reworked. That is our homes, whether they are If you’re feeling like you need a heirlooms or new items. Everyone gets something I do in my own home change in your home, don’t be afraid to comfortable with the way our home from time to time. Taking apart Simple things like moving plants, an arrangement is simple enough looks. An easy trick to “freshen” our move things around. Think outside the home is to rearrange and re-purpose box. Many things can have more than area rugs and accessories can give a for most people. Swap the flowers one purpose. Just because the tag in the feel of “New Life” to your home. Most some of our favorite items. between different arrangements and furniture store says “Dresser,” doesn’t of us won’t admit it, but many of us are give them “New Life.”

One of my clients had inherited all of mean you have to put it in a bedroom. “pack rats”! Look through those boxes her parent’s belongings. She loved most I’m not talking about a lot of work I was hired to stage an Executive in the closets, under the beds and in the of the things; they were sentimental and here Small and simple changes make garage. Some of the things you’ll find gave her fond memories. However, she rental a couple of years ago. It was being big impacts.

Even taking the family will make you say, “Hmmm, I forgot didn’t want her home to feel as “Old rented fully furnished. There was way photos out from the bottom of your all about that!” or “I wondered where too much furniture and some of it not Fashioned” as her parent’s. worthy of being in such a nice home. that was!” Bring those things out of dresser drawers and displaying them Pairing antiques with contemporary After weeding out the undesirable hiding and enjoy them. We all have can make a huge difference. Who can create a very sophisticated pieces, I re-purposed some. There “Hand-me-downs” from our Parents, doesn’t smile when they look at their look. We re-upholstered chairs with was an antique dresser in one of the Grandparents and maybe even Great Aunt Ella’s old sourpuss? beautiful contemporary fabrics and repaired scratched pieces. She had a Terrence L. Clayton started his designing career creating store displays, stage sets and tradeshow table with a lamp built into it in her exhibits in 1986. He was asked to create a line of novelty accent furnishings which led him to bedroom. I removed the lamp and its attend Interior Design school and graduating in 2004. Terrence has been a Las Vegas resident huge barrel shade and it made a great since December 1992 and opened Alternative Décor soon after. entry hall piece. A beautiful new vase He can be reached through alternativedecor.com and by phone: covers the hole where the lamp was Office: 702-655-3888/Cell: 702-373-3888. Follow him on FACEBOOK. and no one is the wiser. A few new By: Terrence L. Clayton

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26

Las Vegas Agent Magazine | July/August 2014

REALTORS Save GREEN at the Gas Pump ®

years. They joined MGM Resorts International in this program, who installed over 30 plugs at 11 locations during the first quarter.” When you visit NevadaEVA.org, you can find a map of the charging stations through Nevada.

Did you know the average American household spends nearly 60% of its budget on housing and transportation? When comparing at 13 cents per kilowatt-hour, an electric car can travel about 40 miles on $1.50 compared to a gallon of gas to go the same distance at $3.75 or so.

By: Annette Bubak

A

s a REALTOR® how many miles do you drive annually?

What is your monthly fuel cost and how does it impact your profit margin?

With the hybrid/electric vehicles, the concern of lack of available charging stations and range no longer exists. In some cases, you are able to drive over 380 miles on a full gas and charged battery. You can find battery ranges of electric vehicles from 80 to 400 miles.

Fuel cost is one expense real estate professionals can now gain control of and improve their bottom line by choosing alternative fuel modes of transportation.

As an example, the LEAF has an 80-100 mile range with the ability to use in the local area to run your business without much concern about range anxiety. A Tesla has from 200Consumers commonly perceive 400 range and is introducing more the challenges of buying hybrids or affordable models. electric vehicles are limited choices, Both Dave Tina Sr. and Jr. of Urban short battery ranges, and availability Nest Realty made commitments to of charging stations. smart and clean transportation by The good news is clean energy vehicles are now available by a variety of manufacturers with better technology than ever. Clean energy vehicles are offered in economy and luxury type vehicles and everything in between. There was a time when limited choices were available, however — today you have choices by manufacturers such as Toyota, Ford, Honda, Nissan, Chevrolet, Lexus, Infinity, Cadillac, Mercedes, Porsche and my favorite — Tesla.

Just to mention a few.

choosing Teslas as their new vehicles.

When asked what motivated Dave Tina Jr., he responded: ”I chose a Tesla for the ability to have freedom from the gas pump, while knowing that I’m reducing my carbon footprint and not sacrificing performance made it a no brainer. Throw in that it’s a

‘‘

Due to the progressive work within southern Nevada, charging stations are popping up everywhere. My friend and colleague of Nevada Electric Vehicle Acceleration (NEVA), Stan Hanel, is a driver of this movement and he says, “Public recharging sites around town are continuing to grow. Caesars Entertainment just installed 28 new plugs at seven properties in the last two weeks, offering electricity at no cost through the NV Energy Shared Investment program for the next five

Due to the progressive work within southern Nevada, charging stations are popping up everywhere.”

A 20-year veteran of real estate sales and marketing and a GREEN Designated REALTOR®, Bubak is a founding member of GLVAR’s GREEN Committee, committed to educating Realtors® on the benefits of high performance, and GREEN certified homes and buildings. An NAR GREEN Designation instructor, Bubak is working to increase the number of Green Designees by illustrating the value of this fast emerging home buyer demand. Bubak is a founding member and current President of Nevada ENERGY STAR® Partners GREEN Alliance, a 501 c 3 charitable nonprofit Organization working in partnership with

28

small business lease and it can go Another compelling benefit is the almost 300 miles on a single charge synergy of using solar power for both was icing on the cake.” home and car in southern Nevada, The GREEN Alliance is a proud where the sun shines brightly about partner of an emerging initiative, 300 days a year. As a state, Nevada Clean Energy Las Vegas, which is a has to import all its fossil fuels — oil, collaborative group of associations, natural gas, coal, refined gasoline and businesses and individuals diesel. By energizing our homes dedicated to the development and and electric vehicles, we are able growth of alternative-fuel vehicle to reduce our bottom line and our (AFV) transportation in Las Vegas individual carbon footprint, all while being part of the overarching solution. and State of Nevada.

Las Vegas Agent Magazine | July/August 2014

GREEN Designated REALTOR® Russ Upp, with Simply Vegas Real Estate, recently purchased a hybrid car and jokingly says, “I felt like I was spending $30 on gas every two minutes with my truck and now I’m spending $30 every 5-6 days.

With the thousands of miles I drive serving my clients, I’m happy to save over $2,500 a year.”

The bottom line is the bottom line, driving clean energy vehicles saves money, creates sustainable communities and cuts greenhouse gas emissions which protects the environment. I purchased a Ford Fusion, Hybrid a year ago and am enjoying the new technology, but mostly, it just feels good!

the U.S. EPA, U.S. DOE, national, state, and local public/private partnerships dedicated to creating thriving, sustainable communities. With first steps focused in home energy efficiency through collaborative education and community awareness initiatives. The non-profit creates a commitment to conservation, resource preservation and healthy, sustainable living in Nevada.

Bubak’s professional history includes; high performance and GREEN homebuilding , energy efficient consulting, a high performance contracting and GREEN production, as well as marketing and event consulting.

For more information, please write to Annette@GREENAllianceNV.org

CP

Commercial Professionals

Our office specializes in all aspects of Commercial Real Estate in Las Vegas and surrounding areas

Call Galit Rozen or Vanesa Werme at Commercial Professionals

Toll Free: 866.792.3440 Direct: 702.792.3440 LasVegasCommercialre.com

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2015 GLVAR

Board of Director

Election Candidates Running for Officer Positions: P re s i de n t E le c t Scott Beaudry V i c e P re s i de n t Christopher Bishop Kathryn Bovard Trea s u rer Thomas Blanchard Janet Carpenter Candidates Running for Board of Directors Positions:

beginning

Thursday,

August

14

Kevin Buckley Vandana Chima – Bhalla David J. Crete Amber DeLillo Mark Fleysher Christin Griffin Christine Gronau

Rena Levy Omar Lopez Vera McCauley Evelin Paolillo Brandon Roberts Krystal Sherry Mark Sivek

V o t e s m u s t be c a s t o n l i n e For more information, please contact your GLVAR

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NAHREP NAHREP Newsletter Newsletter Letter from the President

Our Mission NAHREP is a purpose-driven organization that is propelled by a passionate combination of entrepreneurial spirit, cultural heritage and the advocacy of its members.

Our mission is to advance sustainable Hispanic Char homeownership. NAHREP accomplishesRandy its mission by: Educating and empowering the real estate professionals who serve Hispanic home buyers & sellers

n

Advocating for public policy that supports the trade association’s mission

n

Facilitating relationships among industry stakeholders, real estate practitioners and other housing industry professionals

n

At NAHREP, we align all of our resources to deliver the following to our members: Networking Opportunities NAHREP conferences, seminars and local affiliate chapter meetings provide a unique forum for the excited exchange between members of ideas, experiences and shared challenges. These gatherings offer a rich cultural/business connection that our members consider invaluable.

Advocacy NAHREP is the largest minority trade group in the real estate industry. We have a powerful and influential voice on legislative issues related to lending parameters, business practices and regulations that affect access to homeownership.

Leadership NAHREP mentors leaders and promotes the placement of accomplished, highly skilled Hispanic professionals into key positions throughout the housing industry.

Professional and Business Development The entrepreneurial spirit of our multicultural members is a core strength that NAHREP seeks to enrich its members through new education programs, business models, partnerships and alliances where diversity is a highly valued commodity.

¡Saludos!

N

AHREP is the only trade association exclusively focused on advancing sustainable Hispanic homeownership. Our members are successful entrepreneurs and business people who embrace the importance of staying well connected and informed.

Latino consumers are the primary drivers of the nation’s housing market and are a major component of our workforce. NAHREP is committed to leading the industry by ensuring that our members are prepared to help Latinos who are ready, willing and able homebuyers to experience the highest level of professional service available in the market today.

We work in one of the best industries in the country, where anyone can be as successful as they want to be by working hard and smart. NAHREP promotes this spirit of empowerment, encouraging our members not to set limits on what they can achieve.

NAHREP is proud to play a critical role in ensuring that our members have the information and resources they need to succeed in a rapidly changing market. Our chapter and national events offer education that’s relevant to your local market, networking that gets you engaged with the other top producers in your community, and top notch speakers whose messages will guide your business to the next level.

We strive to bring our members an environment where “business and cultura” can thrive.

Thank you, Tony Medina 2014 NAHREP President

Immigration Reform Could Generate $500 Billion in New Real Estate Transactions

I

f current legislation that creates a path to legalization for 11 million undocumented immigrants is passed, the nation’s Hispanic real estate leaders estimate that it would create a new pool of 3 million homeowners and pump more than $500 billion* in sales, income and spending into the U.S. housing economy. According to an info graphic released today by NAHREP, the chain reaction triggered by home purchases would drive demand for more than $500 billion in real estate transactions and an additional $233 billion in origination fees, real estate commissions and consumer spending associated with homeownership. A copy of the info graphic is available at http://nahrep.org/immigration-reform.

Based on previous estimates from analysts, NAHREP officials calculate that as many as 6 million undocumented immigrants are likely to pursue legalization and possibly citizenship under the bill and up to 3 million would pursue homeownership based on the patterns of naturalized Latinos.

“Foreign-born householders have a high value and strong desire for homeownership,” said Juan Martinez, NAHREP president. “They have been here in our midst for years, working and participating in our economy. Legitimizing them through immigration reforms would finally give them the access and the confidence to buy homes.”

NAHREP based its projections on updated data and the approach it used for its 2004 study “The Potential for Homeownership Among Undocumented Workers,” to estimate the economic impact on the current housing economy.

Assuming past purchase trends among foreign-born householders remain consistent, half or up to 3 million of the 6 million undocumented immigrants that are expected to pursue legalization, will also buy a home once they have legal status;

n

n Many of the undocumented foreign-born householders have age and income characteristics associated with potential homeownership with household incomes of about $40,000; n Up to 3 million undocumented foreign-born householders

could potentially afford a home worth $173,600, the national median sales price of a home. This would generate more than $500 billion in new mortgages, and about $25 billion in mortgage origination and refinance income;

n Assuming an average of 5.5 percent in sales commissions for these home sales, these purchases would create $28

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billion in income within the real estate community; Home purchases by 3 million legitimized immigrants would create $180 billion in additional consumer spending within local communities based on the average $60,000 in associated purchases estimated by the National Association of Realtors in 2012.

n

*These estimates are factored over a five-year period.

Real Estate agent in Las Vegas area, Jeff Well known Real Estate Coach, Galindo, with Governor Sandoval, NAHREP Mike Ferry, and Realtor and NV Chapter President Tony Medina and NAHREP member Tony Medina Jr. President Elect Benjamin Ramirez.

Our next events: 07/23/14

6:30pm to 8:30pm

Pool Party Networking Mixer @ Downtown Grand Las Vegas

08/07/14

5:30pm to 8:30pm

Networking Mixer @ The View Wine Bar & Kitchen

08/09/14

10:00am to 3:00pm Real Estate Expo at “La Oportunidad Fair” at Cashman Center

09/12/2014

12:00pm – 6:00pm

Business Rally @ Gold Coast Hotel & Casino

For more information about membership or upcoming events, please write; membership@nvahrep.org or call the office at 702-702-547-4737. Please visit our website at: www.nvahrep.org

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RESCUE » REHABILITATE » REHOME Desert Rescue Animal Sanctuary provides a refuge for homeless, abandoned & abused animals. We also offer a forum for owners who need assistance in placing their pets, no questions asked. All the animals that come into the Rescue are rehabilitated using their natural instincts. This helps in preparing them to move on into their new forever homes. Desert Rescue Animal Sanctuary was started in 2005 to assist the hundreds of animals that are looking for homes across the southern deserts of Nevada. The rescue center is a family operation and is run by Lakota Spoolman. Lakota has been a Veterinarian Health Tech for 33 years specializing in emergency medicine as well as a Canine Behavior Specialist. We are a 501(c)(3) Non-profit organization incorporated by the state of Nevada as an Animal Rescue/Sanctuary.

Recycle » Reuse » Repurpose Desert Rescue Animal Sanctuary is proud to be a totally green Animal Sanctuary. We live off the grid producing our own electricity & water as well as grow our own food for the animals. We recycle, reuse as well as repurpose as many things as possible. In that mindset, we accept donations of any and all types of animal equipment (new or used) as well as all types of feeds. Since we get in all types of animals, we can use any type of feeds (including open bag feeds).

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34

Las Vegas Agent Magazine | July/August 2014

Local Housing Statistics

GLVAR reports rising local home prices, fewer cash buyers Statistics released today by the Greater Las Vegas Association of REALTORS® (GLVAR) show local home prices continued to climb in June while the percentage of buyers paying cash fell to its lowest point in four years.

Unless Congress extends this act, as Nevada’s congressional delegation has proposed, any amount of money a bank writes off in agreeing to sell a home as part of a short sale starting in 2014 may become taxable when sellers file their income taxes.

GLVAR reported the median price of existing single-family homes sold in Southern Nevada during June was $199,900, up 2.5 percent from $195,000 in May and up 14.2 percent from June of 2013.

That’s the highest median home price GLVAR has reported since September of 2008. The median price of existing condominiums and townhomes sold in June was $109,000, up 6.9 percent from $102,000 in May and up 26.7 percent from one year ago.

The total number of single-family homes listed for sale on GLVAR’s Multiple Listing Service in June was 13,838. That’s up 1.5 percent from 13,637 in May and up 0.6 percent from one year ago. GLVAR reported a total of 3,715 condos and townhomes listed for sale on its MLS in June, up 1.9 percent from 3,646 listed in May and up 7.7 percent from one year ago.

“Our GLVAR median home price is almost back to $200,000, which is encouraging,” said GLVAR President Heidi Kasama, a longtime local REALTOR®. “While real estate investors have played a key role in helping our housing market recover in recent years, it’s also good to see more traditional buyers entering the market. The percentage of local home buyers paying with cash is now under 35 percent. It hasn’t been that low since July of 2009.”

Putting these prices into perspective, Kasama said existing local home prices are still well below their June 2006 peak of $315,000.

Prices bottomed out at a median of $118,000 in January 2012 before rising for a record 19 straight months until September 2013, then increasing more gradually since then.

Fewer existing homes were sold in June than during May, according to GLVAR. Kasama said local home sales so far in 2014 are running about 13 percent behind last year’s sales pace.

At the current sales pace, she said Southern Nevada has less than a three-month supply of available homes. But compared to one year ago, she said Southern Nevada has almost twice as many homes available for sale without pending or contingent offers on them.

Since 2013, GLVAR has reported fewer distressed sales and more traditional home sales, where lenders are not controlling the transaction. However, in June, GLVAR tracked an uptick in short sales – which occur when lenders allow borrowers to sell a home for less than what they owe on the mortgage. In June, 10.8 percent of all existing local home sales were short sales. That’s up from 7.9 percent in May. Another 10.1 percent of all June sales were bank-owned properties, up from 9.1 percent in May. Kasama said short sales have slipped this year due in part to uncertainty about whether Congress will vote this year to extend the Mortgage Forgiveness Debt Relief Act of 2007 that expired Dec. 31, 2013. If Congress doesn’t extend this law and make it retroactive to Jan. 1, it can create a significant tax hit for anyone who completed a short sale in 2014. She said REALTORS® are still pushing Congress to extend this act for at least another year.

By the end of June, GLVAR reported 7,126 single-family homes listed without any sort of offer. That’s up 7.7 percent from 6,615 such homes listed in May, and an 86.2 percent jump from one year ago. For condos and townhomes, the 2,333 properties listed without offers in June represented a 3.3 percent increase from 2,258 such properties listed in May and a 59.4 percent jump from one year ago.

According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in June was 3,274, down from 3,450 in May and down from 3,642 one year ago.

GLVAR said 34.7 percent of all existing local homes sold in June were purchased with cash. That’s down from 40.2 percent in May and well short of the February 2013 peak of 59.5 percent, suggesting that investors are accounting for a smaller percentage of local buyers.

The median price of bank-owned homes sold in June was $150,000, down from $165,000 in May. The median price of homes sold as part of a short sale in June was $170,000, up from $160,000 in May. These GLVAR statistics include activity through the end of June 2014. GLVAR distributes such statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or for sale by owners. Other highlights include: The monthly value of local real estate transactions tracked through the MLS during June decreased by 3.1 percent for homes to nearly $643 million. For condos and townhomes, the total value of all June sales was more than $88 million, up 6.8 percent from May. Compared to one year ago, total sales volumes in June were down 1.6 percent for homes and down 2.6 percent for condos and townhomes.

In June, 69.4 percent of all existing local homes and 67.3 percent of all existing condos and townhomes sold within 60 days. That compares to May, when 69.4 percent of all existing local homes and 62.7 percent of all existing condos and townhomes sold within 60 days.

About the GLVAR GLVAR was founded in 1947 and provides its more than 11,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, GLVAR is the largest professional organization in Southern Nevada. Each GLVAR member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.HomeLasVegas.com or www.lasvegasrealtor.com.

Greater Las Vegas Association of REALTORS® June 2014 Statistics

Availability at End of Period

Source: Greater Las Vegas Association of REALTORS® For media inquiries, please call George McCabe, with B&P Public Relations, at (702) 325-7358

Units Sold in Period

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®.

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