Salt Lake Realtor – December 2017

Salt Lake

REALTOR

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December 2017

Defend Your Commissions p. 18 Year in Review p. 16 Keep to the Code p. 12

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Table of Contents Features

Thanks for a great 2017 and

Merry Christmas!

10 Bowling Party 12 Keep to the Code by Fulfilling the Code of Ethics Biennial Requirement Ashley Mordwinow

16 Salt Lake Board of Realtors® Year in Review

Curtis Bullock

18 Defend Your Commission to Scrappy Sellers

Mandy Ellis

22 Should the iPhone X Be in Your Future?

Michael Antoniak

24 Don’t Let Neighbors

Downgrade Your Listing

Robin Roenker

Columns 7 Reaching New Heights Troy Peterson – President’s Message

Departments 8 Happenings 8 In the News 26 Housing Watch

28 Realtor® Connections 28 On the Move

On the Cover: Photo: Dave Anderton Photo left: Dave Anderton

This Magazine is Self-Supporting Salt Lake Realtor® Magazine is self-supporting.

The advertisers in this magazine pay for all production and distribution costs. Help support this magazine by advertising. For advertising rates, please contact Mills Publishing at 801.467.9419.

The paper used in Salt Lake Realtor® Magazine comes from trees in managed timberlands.

These trees are planted and grown specifically to make paper and do not come from parks or wilderness areas. In addition, a portion of this magazine is printed from recycled paper.

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December 2017 volume 77 number 12 The Salt Lake REALTOR® (ISSN 2153 2141) is published monthly by Mills Publishing, located at 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106. Periodicals Postage Paid at Salt Lake City, UT. POSTMASTER: Send address changes to: The Salt Lake REALTOR,® 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106-4618.

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Salt Lake

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President Troy Peterson Equity Real Estate

Directors

First Vice President Adam Kirkham Summit Sotheby’s International Second Vice President Scott Robbins Coldwell Banker Residential Treasurer J. Scott Colemere Colemere Realty Associates Past President Cheryl Acker Utah Key Real Estate CEO Curtis A. Bullock

M. Brock Andersen Berkshire Hathaway Kimberly Farber-Bowen IMPOWER Real Estate Brian Gottfredson Coldwell Banker Residential Alicia Holdaway Equity Real Estate Mike Morgan Realtypath Mary Olsen Utah Key Real Estate Jodie Osofsky Utah Key Real Estate Steve A. Perry Realtypath Michael Rowe Berkshire Hathaway Randal Smith Equity Real Estate Matthew Ulrich Ulrich Realtors®

Advertising information may be obtained by calling (801) 467-9419 or by visiting www.millspub.com

Managing Editor Dave Anderton Publisher Mills Publishing, Inc. www.millspub.com President Dan Miller Art Director Jackie Medina Graphic Design Ken Magleby Patrick Witmer Sales Staff Paula Bell Karen Malan Paul Nicholas

Office Administrator Cynthia Bell Snow Office Assistant Jessica Snow Administrative Assistant KellieAnn Halvorsen

Salt Lake Board: (801) 542-8840 e-mail: dave@saltlakeboard.com Web Site: www.slrealtors.com The Salt Lake Board of REALTORS® is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support the affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.

Reaching New Heights W

hen I first started in the real estate business in 1995 I really didn’t care about the Board or its causes. I basically joined to get access to the MLS. Shortly thereafter I sold a commercial building to an Italian guy. He was grinning earto-ear and shook my hand but wouldn’t let go. He said, “Guys like me don’t get buildings. Now I have a thriving business and own my own home.”

That experience made me think about what I really do. I realized I’m a Realtor®. I believe in private property rights. I believe in keeping government out of our industry. I am an advocate for homeownership.

In the past 22 years I have seen many changes. Many believed in the late 1990s that the Internet would displace real estate agents like it did with travel agents, stock brokers and taxi drivers. However, as the real estate transaction became more complex the opposite happened. It turned out most people (90 percent) valued the experience of an expert Realtor®.

Of course, third party disruptors continue to shout that the real estate agent isn’t needed. Going forward, I believe the real estate profession will continue to see drastic changes. Yet, there are qualities that will always be valued. They include expertise, know-how, and the human connection. No app or website will ever be able to take the place of a Realtor® that can navigate the challenges of the home buying process. That’s why it’s important as Realtors® to offer exceptional service and knowledge.

While the real estate transaction has become more complex, I don’t believe our relationships with our clients should be difficult. I believe simplicity works. In fact, my focus this year has been to make the Board a more efficient place for all members. As my year as president comes to an end, I am still trying to take my own professionalism and knowledge to a higher level. Remember, none of us get to go back again. We only get one shot at this. So let’s make every day our best.

Troy Peterson 2017 President

The Salt Lake REALTOR® is the monthly magazine of the Salt Lake Board of REALTORS®. Opinions expressed by writers and persons quoted in articles are their own and do not necessarily reflect positions of the Salt Lake Board of REALTORS®.

Permission will be granted in most cases, upon written request, to reprint or reproduce articles and photographs in this issue, provided proper credit is given to The Salt Lake REALTOR®, as well as to any writers and photographers whose names appear with the articles and photographs.

While unsolicited original manuscripts and photographs related to the real estate profession are welcome, no payment is made for their use in the publication.

Views and opinions expressed in the editorial and advertising content of the The Salt Lake REALTOR® are not necessarily endorsed by the Salt Lake Board of REALTORS®. However, advertisers do make publication of this magazine possible, so consideration of products and services listed is greatly appreciated.

OFFICIAL PUBLICATION OF THE SALT LAKE BOARD OF REALTORS ® REALTOR® is a registered mark which identifies a professional in real estate who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS®.

October 2005

December 2017 | Salt Lake Realtor ® | 7

Happenings

Pictured: Curtis Bullock, left, Trent Staggs (Riverton), Troy Peterson, Mike Peterson (Cottonwood Heights), Troy Walker (Draper), Kristie Overson (Taylorsville), Dawn Ramsey (South Jordan), Kurt Bradburn (Sandy), Jim Riding (West Jordan), and Marcus Jessop.

Meet the New Mayors

Newly elected mayors and council members gathered at the Salt Lake Board of Realtors® in December to meet Realtors® and discuss growth issues.

More than 100 members attended the discussion, which was organized by the Government Affairs/RPAC Committee.

©Ikrart / Adobe Stock

Home Sales and Prices Predicted to Rise in 2018

Inventory constraints that have fueled a sharp rise in home prices and made it difficult for buyers to gain a foothold in the market will begin to ease next year as part of broad and continued market improvements, according to the realtor.com® 2018 National Housing Forecast. The easing of the inventory shortage, which is expected to result in more manageable increases in home prices and a modest acceleration of home sales, is being predicted based on developments first detected by realtor.com® late this summer. The annual forecast, which is among the industry’s bellwethers in tracking and analyzing major trends in the housing market, also foresees an increase in millennial mortgages and strong sales growth in Southern markets. The wildcard in 2018 will be the impact of tax reform legislation currently being debated in Congress.

8 | Salt Lake Realtor ® | December 2017

In the News

Image licensed by Ingram Image

Salt Lake City is a Top 10 Housing Market

Salt Lake City was named No. 6 in the Top 10 Housing Markets for 2018, according to the realtor. com 2018 National Housing Forecast. The list was composed of markets based on largest sales and prices gains. The report also noted that next year home prices are anticipated to increase 3.2 percent year-over-year after finishing 2017 up 5.5 percent year-over-year.

Existing home sales are forecast to increase 2.5 percent to 5.60 million homes due in-part to inventory increases, compared to 2017’s 0.4 percent increase or 5.47 million homes. Mortgage rates are expected to reach 5.0 percent by the end of 2018 due to stronger economic growth, inflationary pressure, and monetary policy normalization in the year ahead.

Other markets to make the Top 10 list included: 1. Las VegasHenderson-Paradise, Nev. 2.

Dallas-Fort Worth-Arlington, Texas 3. Deltona-Daytona BeachOrmond Beach, Fla. 4. StocktonLodi, Calif. 5. Lakeland-Winter Haven, Fla. 6. Salt Lake City, Utah.

7.

Charlotte-Concord-Gastonia, N.C.-S.C. 8. Colorado Springs, Colo. 9. Nashville-Davidson-Murfreesboro--Franklin, Tenn. 10.

Tulsa, Okla.

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Bowling Party

D

avis County agents raised $12,000 from their annual bowling fundraiser event. Six charities will receive the proceeds: The Daughters of Charity, Safe Harbor, Eastman Foundation, The Inn Between, Bountiful Food Pantry, and The American Patriot Service Corp. Jenni Barber and Mark Gonzales were co-chairs and helped organize the event. More than 140 people attended the Nov. 9th party at Bountiful Bowl.

10 | Salt Lake Realtor ÂŽ | December 2017

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Keep to the Code by Fulfilling the Code of Ethics Biennial Requirement

By Ashley Mordwinow

T

he Code of Ethics sets forth standards of conduct and professional integrity that are the hallmarks of the Realtor® profession. The National Association of Realtors® has recently changed the Code of Ethics training requirement from quadrennial (every four years) to biennial (every two years). This change has caused some confusion among our members. Here are the answers to some of the most commonly asked questions regarding the Code of Ethics requirement.

Q: How often do I need to take the Code of Ethics?

A: All agents must take the Code of Ethics once every two years, no matter how long they

12 | Salt Lake Realtor ® | December 2017

have been in the business. The first biennial cycle began on Jan. 1, 2017, and will end on Dec. 31, 2018. As long as you take the course within each two-year cycle, you will meet the requirement. It does not have to be taken two years from the last date you took it. For example, if you took Code of Ethics in January 2017, you met the requirement for the 2017-2018 biennial cycle. You could take the Code of Ethics again in December 2020 (the end of the 2019-2020 biennial cycle), and still be in compliance with the requirement.

Q: Do I need to take Code of Ethics to renew my license?

A: No. The Code of Ethics is required by the NAR

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and the Salt Lake Board of Realtors®, not by the Utah Division of Real Estate. The Division is the government agency that holds jurisdiction over all licensing matters. There are real estate agents who are licensed through the Division, who are not Realtors®, and are not required to take Code of Ethics. Therefore, Code of Ethics is not mandatory for license renewals. *Note: Since your license renewal cycle is every two years, and you have to take Code of Ethics every two years, it is a good idea to take Code of Ethics each time you renew your license. That way you know you will be in compliance with the NAR biennial requirement. Plus, it counts for 3 CORE CE hours, depending on where you take it.

Q: Where should I take Code of Ethics?

A: There are many options for taking the Code of Ethics. Check out the list below and choose what is best for you.

Salt Lake Board of Realtors®: We offer a live Code of Ethics class once a month. It is usually on a Thursday from 9 a.m. to noon. This class is free for our active members and is worth 3 CORE CE hours. For specific dates, please check out calendar on www.slrealtors.com. Our online

14 | Salt Lake Realtor ® | December 2017

Code of Ethics class is called “How to Be an Ethical and Involved Realtor®.” You can take it for $30 at www.slrealtorseducation.com. It is also worth 3 CORE CE hours. *Note, starting in January 2018, we will be offering monthly giveaways for those who take “How to Be an Ethical and Involved Realtor®” online. This will be for a limited time only. Keep an eye on our social medial posts and weekly newsletters for more details. Giveaways will include an Apple Watch, AppleTV, and iPad! National Association of Realtors®: The NAR offers both a free online course (which is not worth any CE credits, but will fulfill the requirement) and one for $29.95, which is worth 3 CE hours. To take either of these courses, go to www.realtor.org. Then click on Education > Code of Ethics Training.

Brokerages: Some brokerages hire instructors to come to their offices to teach the Code of Ethics. Check with your office to see if this is an option for you.

Other live and online providers: There are several real estate schools that offer CE classes, both live and online. If you take Code of Ethics from a provider other than

the Salt Lake Board of Realtors® or the NAR, please make sure that the course description specifically mentions the 17 articles of the Code of Ethics or the NAR biennial requirement. Just because a course title has the word “ethics” in it, that does not necessarily mean it will cover the Code of Ethics and meet the requirement. Also, if you purchase an online renewal package, don’t assume that it includes Code of Ethics. If it does, the title of the package will usually say something like “Code of Ethics Renewal Package.”

Adherence to the Code of Ethics is the critical difference between a Realtor® and a real estate agent. It is the strongest selling point for using a Realtor ®. Keeping up to date with the Code is part of your commitment as a real estate professional and Realtor ®. It is also essential to keeping your Salt Lake Board of Realtors® membership in good standing.

If you’re not sure whether or not you have taken Code of Ethics within a biennial block, you can always check your CE transcript in your RELMS account (through the Division’s website: www.RealEstate.Utah.gov) or call us at the Board to look it up for you. Please do

all you can to comply with the biennial requirement and help us keep our standards as high as our front desk counter!

Ashley Mordwinow is the Education Coordinator at the Salt Lake Board of Realtors®.

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Salt Lake Board of Realtors® Year in Review The Salt Lake Board of Realtors® celebrated its 100–year anniversary and now ranks No. 3 in the country in member dollars invested per capita to the Realtors® Political Action Committee.

By Curtis Bullock CEO, Salt Lake Board of Realtors®

T

hank you all for being a member of the Salt Lake Board of Realtors®. We are now a 100-year-old organization that is going strong and will continue to advocate for Realtors®, private property rights and free enterprise.

I want to thank Troy Peterson for serving so well as this year’s Board President. Troy has done a tremendous job speaking for the Board. Thank you Troy!

Here are a few highlights of 2016 that you might find interesting:

3) RPAC - a record year was set with 43 percent of our total membership investing more than $404,000 in RPAC! Wow! We rank No. 3 in the country in member dollars invested per capita. Thank you all for your continued investment in your industry. Many brokerages and committees were 100 percent in participation. All 16 of the Board of Directors were major investors this year. RPAC is why Utah is a regulatory paradise for doing business.

1) Membership Count - total membership growth continues at roughly 100 new agents per month taking our total membership over 8,000.

4) Government Affairs - the Government Affairs and RPAC Trustees spent countless hours interviewing and meeting with more than 60 individuals running for local office. Interviews were conducted to determine whether the candidate supported Realtor® issues. The Trustees supported many candidates including several Realtor® members who successfully ran for local office.

2) Financial Status - the Board’s year-end financial audit done by Tanner LLC once again showed an impeccable financial situation. The Board is running lean and efficient on all fronts.

16 | Salt Lake Realtor ® | December 2017

5) Charity - Big thanks go to the Christmas in July Committee who put on a terrific event at the Sandy Road Home Shelter. Hundreds of backpacks with basic living essential items were given to children in need. Thank you so much!

6) Education - Free CE classes were offered all year. Over 300 members took the New Agent Course and hundreds and hundreds attended our new member orientation classes held each month. We also saw 600 attendees at our annual Education Summit held this fall that includes some great classes.

7) Events - Many fun events were held this year including the Affiliates Advisory Board’s Top Golf RPAC event which raised over $5,000.

The REAL Soccer and Golf tournaments also raised several thousand dollars for RPAC.

Home Inspection

8) Media Outreach - 2017 was the first year the Board was the major industry sponsor for the Salt Lake Parade of Homes. Realtor® branding was on all Parade marketing materials which promoted the value of using a Realtor® professional. Several billboards were also placed along I15 during the year promoting the Realtor® brand.

Multiple news articles including TV, radio and print were used to educate the public on market stats and the benefit of using a Realtor® to help with the largest investment of a person’s life.

Thank you all for a great year! And thank you to all 2017 committee chairs and vice chairs and to the Board of Directors. Many hundreds of hours were donated to the Board in giving back to the profession all in an effort to make it better. We truly have some of the finest people leading our organization.

See you all next year!

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December 2017 | Salt Lake Realtor ® | 17

GREAT SALT LAKE

TO WENDOVER

80

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STANSBURY PARK

Defend Your Commission to Scrappy Sellers 138

When clients push to negotiate down your paycheck, prove your worth by demonstrating your value proposition—but never automatically cave in.

By Mandy Ellis

36

TOOELE

Y

oung adults are a resourceful bunch. Despite being pegged as financially careless, there’s evidence that many are adept at bargaining for lower prices on goods and services—including negotiating down your commission. First-time sellers who haven’t yet learned the value you bring to the transaction on the selling side may be especially likely to haggle with you. Although some real estate professionals are willing to lower their commission to attain a longer-term goal, such as winning referrals from a satisfied customer, you don’t have to automatically cave to your client’s request.

“Work on it before that question comes up, and when you talk to potential clients, explain what you do and why it’s valuable,” said Paula Monthofer, ABR, GRI, a real estate pro with Realty ONE Group Mountain Desert in Flagstaff, Ariz., and 2017 president of the Arizona Association

18 | Salt Lake Realtor ® | December 2017

of Realtors . She adds that because many practitioners handle tasks in a seamless way— which can create an impression of effortlessness in their work—clients can underestimate their value. “If you play a good pregame and show them behind the curtain, they won’t question your commission.”

It seems you may find yourself in this situation with many different clients, not just those who are new to selling. While 66 percent of millennial sellers say they’ve attempted to negotiate their real estate agent’s commission, according to a Redfin survey in December 2016, 58 percent of Generation X members and 39 percent of baby 199 the same. boomers report Heather Davis, a sales associate with RE/ MAX Preferred Properties in Oklahoma City, said how you defend your commission is a reflection of 73 36 how you will represent your clients in a real estate ®

KAYSVILLE

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NEW HOMES ON THE WASATCH FRONT Explore exceptional communities with clients—quick move-in options available!* 80

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1. Royal Farms From the mid $400s

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3. Anthem Arches Park From the mid $300s

9. River Park From the upper $300s

4. Anthem Yukon Park From the upper $400s

10. Newman Ranch 189 From the mid $300s

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*Closing dates are subject to change and cannot be guaranteed. Homebuyers may be limited in the structural changes, options and upgrades which can be made to homes. Prices, specifications and availability are subject to change without notice. Actual homes as constructed may not contain the features and layouts depicted and may vary from image(s). ©2017 Richmond American Homes, Richmond American Homes of Utah, Inc. (866.400.4131).

RichmondAmerican.com/Utah | 801.545.3429 PROVO

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transaction. “How am I supposed to represent and stand up for my seller if I can’t defend my own pricing and commission?” she said. “If you’re serious about your business, you need to have your principles and be sure that you’re providing a service that justifies your payment schedule.”

Of course, your defense should be tactful and respectful. Rather than justifying why you charge your specific commission rate, give your clients a justification for paying it. Spell out how your negotiation skills, home inspection knowhow, or ability to identify serious offers will help your sellers get the most profitable sale, said Terry Miller, CRB, CRS, managing broker at Coldwell Banker Bain in Seattle. “Millennials love data, and they want you to be quick and efficient and prove why they should hire you,” she said. “The take-home is to help them see you’re the obvious choice.”

Remember that your commission isn’t based solely on hours spent with the client, which is why fighting for it is essential. Your commission also covers items such as the work you do to market a property and organize vendors and contractors for needed repair work to the home. When you think more intentionally about your business, you don’t treat your commission like a negotiation chip, Monthofer said.

If you’re still in the interview process with a prospective client, you don’t need to verbally defend your commission right away.

Demonstrate your expertise first, and consider attaching an agency pamphlet, along with links to your testimonials and online reviews, to the email confirmation for your initial appointment.

If prospects want additional sources, connect with past clients who are willing to share their experiences working with you. “Show clients how you’ve sold in their neighborhood and facts on what you bring to the table,” said Pete Kopf, principal broker at Kopf Hunter Haas, Realtors®, in Cincinnati. “The relationship is how you

20 | Salt Lake Realtor ® | December 2017

present yourself and illustrate value, and the different ways you deliver that value is how to handle a question on commission.”

If you’re already working with a seller, track your work to create a strong case for your commission in case the client questions it later in the transaction process. Update your client at the end of every week on the calls, reports, and tasks you completed for them. This builds accountability and makes it hard to argue against commission percentages when you’ve been consistently communicating your actions.

“Dozens of clients ask to lower my commission because I’m in a competitive market, and I say, ‘I don’t discount, and here are the reasons why,’” said Marie Presti, ABR, CRS, broker-owner of The Presti Group Inc. in Newton, Mass. She adds that sellers often ask her to reduce her commission if they accept an offer below their asking price. “I say, ‘I’m not a party of this transaction. I have an agreement with you, and you can accept, reject, or counter the offer, but my commission isn’t part of the discussion.’”

“No” is a fair answer, and if your client won’t accept it, you can walk away from the relationship.

However, if you’ve made a mistake, you should pay for it, Kopf said. After all, it’s your job to make sure the transaction goes smoothly. “We’re like the PGA Tour: We don’t get paid if we don’t play well,” Kopf said. “Good brokers show their value throughout the process. I often get a hug at the closing because my customers know I’ve earned that paycheck.”

When you truly believe in your value proposition, it’s much easier to explain the “why” of your commission percentage. “Once you know what you’re worth, you’ll stop giving discounts,” Monthofer said.

Reprinted from Realtor® Magazine Online, November 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

Maksim Kostenko © / Adobe Stock

Should the iPhone X Be in Your Future?

A look at whether Apple’s priciest smartphone offers more than a cosmetic upgrade, as well as Android options that can compete.

By Michael Antoniak

I

f you’re an avid iPhone fan, you’ve probably already decided you’re going to upgrade to one of the three new models Apple unveiled last week.

The question is: Should it be the iPhone X—the one with the $1,000 price tag? And if you’re an Android user, your question is: Is there anything that competes?

Despite the marketing hoopla surrounding the iPhone X, which will go on sale in November, real estate professionals’ decision to purchase it should be guided by its practical benefits. The less expensive iPhone 8 and 8 Plus were also unveiled alongside the X, which packs 64GB of memory and is the costliest iPhone debut to date. Every new generation of the iPhone incorporates many refinements, including faster processors, brighter

22 | Salt Lake Realtor ® | December 2017

displays, and improved battery life. And there are incremental improvements in performance and user experience, from running apps to interacting with the handset.

For your needs, compatibility with software apps, mobile productivity, and camera capabilities matter most. The iPhone 8, with its 4.7-inch display, and the larger 8 Plus, with a 5.5-inch display, bring modest improvements over the iPhone 7 series. Enhancements include a glass and aluminum case and a higher-resolution Retina HD display. The 12-megapixel camera promises more accurate color capture, autofocus in poorly lit settings, and image stabilization when taking photos or 4K video.

Will you be better served with a step up to

an iPhone 8 or a leap forward to the X? Apple touts the iPhone X as the future of smartphones.

For easier viewing, the redesign includes a highresolution Super OLED Retina 5.8-inch display, which fills much of the surface of the phone, stretching all the way to its rounded corners. The “home” button and functions are replaced with screen gestures, made possible by iOS 11, the latest version of the operating system. The X also has two new cameras, including a dual 12MP rear camera system for capturing both wide-angle and telephoto pictures and videos. For enhanced security, the new front-facing 7MP True Depth camera powers one of the phone’s breakthroughs: Face ID. The camera maps and stores a model of the owner’s facial features, and the phone uses this information to verify the user before unlocking the phone.

But Apple’s products aren’t the only newgeneration smartphones that promise to make your mobile business operate more smoothly.

Whether your phone runs iOS or Android, any smartphone designed for the latest version of the operating system takes full advantage of available software. Across the board, advances in smartphone cameras and imaging software deliver better photos and sharper videos, even when shooting indoors.

The tools you employ are also a reflection of your brand, and your choice in smartphone is part of that image. If you promote yourself as a tech-savvy agent, you need to be carrying one of the latest models. Anything less suggests you’re behind the times. For Apple loyalists, the choices are limited. But Android users have more freedom, though matching your phone to your personal preferences entails different considerations. There are simply more vendors and variations in Android smartphones. Here are the most notable ones.

• Samsung’s Galaxy Note 8: The eagerly awaited replacement for last year’s ill-fated but popular Galaxy Note 7, the Note 8 has a 6.3-inch touchscreen and an S-Pen interface that make this “phablet”—a hybrid phone and tablet—a versatile tool for capturing notes and communicating away from your desk. The Note 8 also features a dual 12MP camera system, which can capture both a close-up shot and wide-angle photo simultaneously for highlighting features of a home or room.

• Motorola’s Moto X4: Just unveiled, this smartphone may appeal to those looking for something smaller and less expensive without sacrificing functionality.

• Google’s Pixel: Google will soon add a new model to its Pixel smartphones, designed and built for its web-based apps and tools.

Image licensed by Ingram Image

• LG’s V30: For those who value the camera as a key feature, this smartphone is worth a look.

It has a 16MP rear camera with a glass f/1.6 lens and a companion 13MP wide-angle camera for gathering more light, accurate colors, and sharper images, even when shooting or recording in poorly lit rooms.

• There are also noteworthy Android phones to consider from vendors who may not be as familiar to you. The OnePlus 5 runs a refined version of Android—OxygenOS—and includes both 20MP and 16MP rear cameras. The Essential Phone, designed by the creator of the Android operating system, has a dual camera system with an optional 360-degree camera for immersive, navigable videos.

If you decide it’s time to upgrade your smartphone, you’ve got plenty of good options.

If you decide to wait, you can look forward to a varied selection next year. As a professional whose smartphone may be the essential tool, you can always make the strongest argument for outfitting yourself with one of the current best in class.

Reprinted from Realtor® Magazine Online, September 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

December 2017 | Salt Lake Realtor ® | 23

Don’t Let Neighbors Downgrade Your Listing When the house next door is an eyesore, take measures to upgrade your sellers’ curb appeal and keep the attention on the strengths of their property.

By Robin Roenker

I

t’s a dilemma in which no real estate professional wants to be stuck: snagging the perfect listing in a desirable area—right next door to the neighborhood eyesore. Whether it’s an unkempt property neglected by messy owners or an abandoned home falling into disarray, the ugly house next door can have a real and negative effect on the curb appeal of your listing. Your first instinct might be to ignore it and focus on the home you’re selling. But potential buyers don’t have blinders on, and they’ll see the nearby nuisance right off the bat. So it’s best to address

24 | Salt Lake Realtor ® | December 2017

the problem head-on. With a little creative thinking, you can keep potential buyers’ attention on your listing and work through objections to any unsightliness next door. Here’s how.

Find the Silver Lining Sometimes, you need to reframe the way potential buyers perceive a nearby eyesore. In May, Ryan Wilson, team leader of the Wilson Group at Keller Williams Realty in Newton Center, Mass., landed a listing for a two-bedroom, two-bath home in an established, in-demand neighborhood.

occasions. Wilson sold the listing for $321,000 within a week, after fielding multiple offers following a packed open house with visits from more than 40 interested buyers.

© Erin Cadigan / Adobe Stock

“It was storybook suburbia: a mix of cute cottages, farmhouses, and colonials, with friendly neighbors and white picket fences,” Wilson said.

But next door to Wilson’s listing, the neighbor’s yard was littered with lawn equipment, including multiple lawnmowers and snow blowers.

“It wasn’t something we shied away from [discussing with buyers],” Wilson said. “We didn’t try to say, ‘The yard’s not that bad.’ We took it head-on and said, ‘We understand it’s messy, but more importantly, the people who live there are nice people, and they’ve actually been very nice neighbors.’”

Wilson highlighted a benefit to having neighbors with such equipment, which may have been convincing to the buyers who ultimately bought his seller’s home. “What we ended up saying to potential buyers was that it was actually quite convenient to have neighbors with those things because there might be occasions when they may need to borrow the neighbor’s equipment,” he said. In fact, his sellers did confirm that they’d borrowed tools from the neighbor on many

Create a Buffer If the neighboring eyesore isn’t something that can be reframed, see if you can take measures to hide or downplay it, suggests Paula Monthofer, ABR, GRI, president of the Arizona Association of Realtors® and owner of Focus School of Real Estate in Flagstaff, Ariz. She suggests performing a land survey to establish clear boundary lines between your seller’s property and the neighbors, and then erecting a fence or landscape buffer, which can draw attention away from neighboring properties and add to the attributes of your listing.

But don’t pretend that potentially intrusive problems with a neighbor’s property don’t exist.

Be honest about them; address the issue in the best way you can and move on, she advises.

Monthofer once showed a potential buyer a home with a neighbor whose lawn was littered with rusty vehicles, spoiling an otherwise lovely rural landscape. Rather than ignore the problem, she and the property’s listing agent brainstormed solutions. “My buyer ended up moving in and planted a row of cherry trees to obscure the view.

He wound up becoming good friends with his neighbor,” she said.

Remember that the key to selling your listing is highlighting its strengths. If the neighboring property appears poorly maintained, take measures to show that your listing is in better condition. “A well-manicured lawn with an attractive entrance can be all that’s needed to get buyers through the front door,” said Allison Moore, a professional stager and sales associate with Warnock Real Estate in Fort Smith, Ark. If your listing’s front porch is shaded or dark, consider painting the door in a bright color to draw attention to the entrance, Moore suggests.

“Little touches can go a long way in letting potential buyers feel that your property has been well-cared-for,” she said. A little staging may be all that’s needed to help your listing’s curb appeal shine through any nearby untidiness.

Investigate the Root Cause of the Mess Sometimes, in order to develop an effective plan for dealing with the ugly house next door, you must first understand what’s behind the mess. Candice Oleson-Fredrick, a sales associate with Coldwell Banker Mid-America Group in Des Moines, Iowa, once had a listing that overlooked what appeared to be a large pile of woodland debris in the neighboring yard. “It was a massive pile of sticks,” she said. “I knew I had to overcome (continued on page 30)

December 2017 | Salt Lake Realtor ® | 25

Housing Watch Existing Home Sales Rise in October

S

alt Lake County home sales made a National Association of Realtors®, said, “Job comeback in October. Total sales (all growth in most of the country continues housing types) increased 7 percent to to carry on at a robust level and is starting 1,600 units sold, up from 1,500 units sold in to slowly push up wages, which is in turn October 2016. October’s increase followed giving households added assurance that six consecutive months of declining sales now is a good time to buy a home. While year-over-year. the housing market gained a little more The median price of homes sold in momentum last month, sales are still below October in Salt Lake County increased to year ago levels because low inventory is $299,255, up 11 percent year-over-year. The limiting choices for prospective buyers and median cumulative days a house was on keeping price growth elevated.” the market in October in Salt Lake County All-cash sales were 20 percent of was 20 days, up from 16 days in October transactions in October, unchanged from 2016. In Davis County, home prices climbed September and down from 22 percent a year 6 percent to a median price of $269,000. ago. Individual investors, who account for Nationally, home sales in October were 0.9 many cash sales, purchased 13 percent of percent below a year ago. homes in October, down from 15 percent last Lawrence Yun, chief economist for the month and unchanged from a year ago.

6

3

Salt Lake County Sales (all housing types) Year-Over-Year (Up 7%)

1,500

26 | Salt Lake Realtor ® | December 2017

1,600

Salt Lake County Median Price (all housing types) Year-Over-Year (Up 11%)

$268,817

$299,255

2 - C OL OR

1

Salt Lake County

Median Days on Market (all housing types) Year-Over-Year (Up 25%) 20

2

5

Davis County

Median Price (all housing types) Year-Over-Year (Up 6%)

$253,500

Pending Sales (Up 11%)

1,627

1,468

16

Sales $

Salt Lake County

4 $269,000

Sales

Davis County Sales (all housing types) Year-Over-Year (Up 0.4%)

457

455

December 2017 | Salt Lake Realtor ® | 27

REALTOR® Connections

100% RPAC Office

Congratulations to the Union Heights office of Coldwell Banker Residential Brokerage for achieving 100 percent RPAC investments in 2017 from each of its 130 Realtors®. Every agent contributed his/ her fair share amount. Brian Gottfredson is the principal broker of the office and sits on the Board of Directors for the Salt Lake Board of Realtors®.

New NAGLREP Chapter in Salt Lake City The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) announced the formation of its first chapter in Salt Lake City. Babs De Lay, broker at Urban Utah Homes and Estates and a member of the Salt Lake Board of Realtors®, was an instructor Babs De Lay at the NAGLREP convention in Palm Springs in October and met with the national director to start a chapter here. The local chapter will have quarterly “lunch and learn” meetings in 2018 in Salt Lake City and work on an entry for the annual summer Utah Pride Parade. “This is a purpose-driven organization that is propelled by a passionate combination of entrepreneurial spirit, LGBT culture and advocacy of its members,” De Lay said. “The mission is to increase the rate of sustainable LGBT homeownership by empowering LGBT real estate professionals and allies that serve the community and to align our mutual resources to deliver networking opportunities, advocacy, and leadership as well as professional and business development.” The Salt Lake City Chapter is open to all real estate professionals who have displayed an interest in increasing homeownership for LGBT persons. For more information contact De Lay at 801.201.8824 or babs@urbanutah.com.

28 | Salt Lake Realtor ® | December 2017

On the Move Keller Williams Salt Lake City has announced Shauna Thomas as the new Team Leader CEO. Shauna was the first agent hired at the Salt Lake office in 2005 and has Shauna Thomas been an integral part of the culture and company history ever since. She achieved Rookie of the Year status her first year, has been a member of the Agent Leadership Council seven times, and was winner of the Regional Cultural Icon in 2009. She is eager to take the Salt Lake Office and individual agents’ businesses to the next level.

The Utah Council of Residential Specialists announced the following Realtors® in 2017 achieved their CRS Designation.

Congratulations to: Fonda Oliphant, Randy Smith, Rebecca Rodrigues, Amy Gibbons, Brian Clark, Julie Holmes, Leslie Jones, Lori Khodadad, Katie Olsen, Sheila Simpson, Erika Wiggins, Jason Jentzsch, Raquel M Ocana, Heather Heine, Kenna Wagner, Amber De Birk, Robert Crowe, Kaytlin Hughes, Lalane Riegel, Erin Barraco, Karen Rustan, Colleen Santos, Janice Smith, Lisa Dimond, Connie Becerril, Al Barbosa, Kristin Wilkinson, Maria Collantes, Julie Smith, Bryant Mangum, Ron Andrus, Logan T Moffett, and Susan Jarvis.

The National Reverse Mortgage Lenders Association announced a new home loan specifically for buyers who are 62 or older and ready to downsize, upsize, move closer to family, move to a low-maintenance community or a more convenient neighborhood, or to finally buy their “dream house,” but who don’t want to take on a required monthly mortgage payment. It’s a Home Equity Conversion Mortgage (HECM) for Purchase, which is a reverse mortgage that allows seniors, age 62 or older, to purchase a new principal residence using loan proceeds from the reverse mortgage. Learn more at nrmlaonline.org.

Remember this? it's a telephone.

#reallifeskills

pick up the telephone & resolve your own ethics complaints before we have to. 35% of all ethics & arbitration complaints were resolved in 2017 amicably & privately simply by communicating with each other before salt lake board intervention. pick up that phone!

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Downgrade Your Listing (continued from page 24) it somehow because it looked bad.”

Rather than panic, Oleson-Fredrick turned to Google for answers. Her seller mentioned that the neighbors were from Nepal. So with a little online research, Oleson-Fredrick discovered that it was customary in Nepalese culture for homeowners to create large-scale, tiered backyard gardens known as “Ghar Bagaincha,” which literally translates to “home garden.” After seeing images of similar gardens online, Olson realized that the homeowners planned to use the sticks they’d gathered to outline the garden and create its layered tiers.

“Rather than make it a negative, I found out what it was about, and we were able to turn it into a positive,” Oleson-Fredrick said. “We told potential buyers, ‘You need to become friends with them because they are eventually going to have a garden with some great vegetables growing there.’” Her listing also sold within a week for $180,000.

Offer Help With Compassion In other cases, rundown homes and overgrown yards may be a sign that the neighbors could use a little help. Perhaps it’s an older couple who are no longer able to maintain the property; maybe it’s a family who has fallen on hard financial times. Either way, you should be prepared to put on your “part-time investigator hat” to find out what’s going on, said Moore. Because it can be tricky

30 | Salt Lake Realtor ® | December 2017

to approach the owners of the eyesore without seeming nosy or accusatory, Moore suggests first asking surrounding neighbors on the street if they can share details about what may be really going on.

If the neighboring home truly needs improvement, extend a hand—but do it with kindness and consideration. “Obviously, this has to be entered into with a lot of heart. You’re not going to walk over and say, ‘Your house is ugly.’ You have to be very compassionate,” Monthofer said.

For unsightly yards, consider offering some lawn care work. It could be as simple as recruiting a few teenagers in the neighborhood for a few hours of cleanup. That’s what Monthofer did for the neighbors of one of her recent listings. Rather than accusing or insulting them, Monthofer and her sellers extended the offer of yard service in a positive light.

“We went over and said, ‘We’re preparing to sell our house and will be having some work done, and we’d like to do this for you, too, as a thankyou since you’ve been such great neighbors,’” Monthofer said. The end result was not only a nicer looking property but a true communitybuilding experience involving other neighbors who pitched in and helped.

Robin Roenker is a freelance writer based in Lexington, Ky. Reprinted from Realtor® Magazine Online, October 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

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Š2017 RE/MAX, LLC. Each office is independently owned and operated. 17_217486

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