Salt Lake Realtor March 2015 by Mills Publishing Inc.

Salt Lake

REALTOR

速

slrealtors.com

Maga zine March 2015

Best of 2014 Realtor速 Awards p. 10 Keybox Exchange is March 24-26 p. 34 The 2014 Membership Survey p. 26

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Everything you need to know about the upcoming keybox exchange March 24-26. p. 34

Table of Contents Features 10 The Salt Lake Board of Realtors® Best of 2014 Awards

16 Best of 2014 Awards Luncheon 22 Majority of Realtors® Feel Safe on the Job

National Association of Realtors®

26 The 2014 Membership Survey

Curtis A. Bullock

34 Keybox Exchange 38 The Vacation Home

Barbara Ballinger

Columns 7 Save the Scorpion Dave Robison

– President’s Message

Departments 8 Happenings 8 In the News 42 Housing Watch 44 Realtor® Connections 44 On the Move

On the Cover: Photo: © iStockphoto.com/Shironosov Photo left: © iStockphoto.com/Varijanta

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.

Salt Lake

REALTOR slrealtors.com

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March 2015 volume 75 number 3 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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CONGRATULATIONS! REALTYPATH’S SALT LAKE BOARD TOP PERFORMERS OF 2014

Realtypath is pleased to recognize our top performers and congratulate all award recipients! Thanks to each of our producing agents for another wonderful year!

BRENT SCOTT

SARA BECK

SHAUNA JORGENSEN

Diamond Circle

Ruby Club

JONATHAN & EMILIE KNIGHT

DANE ANDERSON Ruby Club

Ruby Club

GLORIA RODRIGUEZ

JESICA TAYLOR

HAYDEE LARA

BECKY GRUBEL

MARLEY ORTON

Emerald Club

Sapphire Club

STEVE DUKE

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JACK BAUGHMAN

TAYLOR NELSON

PATRICIA RIVERA

Sapphire Club

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Sapphire Club

CONNOR SOUTHWORTH

JENNIFER GILCHRIST

Sapphire Club

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Salt Salt Lake Lake

REALTOR

® ® ®

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President Dave Robison goBE Realty

Directors Managing Editor Dave AndertonM. Brock Andersen Copy Editor

Jared Booth Georgia Cuthbert Coldwell Banker First Vice President Cheryl Acker Communications Committee Tom Colemere Realtypath LLC (Success)Lori Lee – Chairwoman Colemere Realty Annie Hedberg – Vice Chairwoman Kim Farber Equity Real Estate Second Vice President Publisher Adam Kirkham Mills Publishing, Inc.Kevin Larsen Kirkham Real Estate Coldwell Banker Residential www.millspub.com Mike Morgan President Sales Staff Keller Williams Treasurer Dan Miller Paula Bell Lisa Jungemann Steve Perry BillLLCLines Windermere Real Estate Realtypath (Community Branch) Office Administrator Karen Malan Cynthia Bell Snow Troy Peterson PaulEquity Nicholas Real Estate Past President Art Director Don Nothdorft Angie Domichel Nelden Michael Rowe Jackie Medina Coldwell Banker Residential BerkshireAssistant Hathaway Administrative Magazine Designer ChloéRandy Herrman Smith Real Estate CEO OfficeEquity Assistant Curtis Bullock Graphic Design Matthew Jessica SnowUlrich Ulrich Realtors® Ken Magleby Patrick Witmer Advertisinginformation informationmay maybe beobtained obtainedby bycalling calling Advertising (801)467-9419 467-9419ororby byvisiting visitingwww.millspub.com www.millspub.com (801)

Managing Editor Directors President DeAnna Dipo Dave Anderton Cheryl Acker Distinctive Properties

At Home Realty

First Vice President Publisher Jillinda Bowers Purdential Utah Donna PozzuoliMills Publishing, Inc. Daniel Christensen Prudential Utah www.millspub.com Coldwell Banker

Second Vice President President Sarah M. Colbert Dave Frederickson Dan Miller Summit Sotheby’s Keller Williams Art Director Tom Colemere Treasurer Jackie Medina Colemere Realty Charlotte Thomas Kim Farber-Lynch OfficeEquity Administrator Graphic Design Keller Williams Real Estate Cynthia Bell Snow Leslie Hanna Lisa Hyte PastKen President Magleby RE/MAX Canyons Office Assistant Bill Heiner Patrick Witmer JessicaJacobson Snow Shirley RE/MAX Associates

Sales Staff Chief Executive Officer Paula Bell Bryan Kohler Karen Malan Paul Nicholas

Windermere

Administrative Assistant Fred Law Kyrsten Holland Law Real Estate Angie Domichel-Nelden Coldwell Banker

Troy Peterson Equity Real Estate

Save the Scorpion

Berkshire Hathaway

Salt Lake Board: (801) 542-8840 Salt Lakee-mail: dave@saltlakeboard.com Board: (801) 542-8840 e-mail: dave@saltlakeboard.com Web Site: www.slrealtors.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 equal housing opportunity the nation. We The Saltachievement Lake Board ofofREALTORS is pledged to thethroughout letter and spirit of U.S. policy encourage and support the affirmative advertising throughout and marketing for the achievement of equal housing opportunity the program nation. Wein which thereand are support no barriers obtaining advertising housing because of race, color, religion, encourage thetoaffirmative and marketing program in sex, handicap, familial or national origin. which status, there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. The Salt Lake REALTOR® is the monthly magazine of the Salt Lake Board of REALTORS®. Opinions ® persons quoted in articles are their own and do not necessarily expressed by writers is the monthly magazine of the Salt Lake Board of REALTORS®. Opinions The Salt Lake REALTORand reflect positions of theand Saltpersons Lake Board of REALTORS expressed by writers 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 well and photographs this issue, provided proper is given to The Salt Lake REALTOR®, as Permission will beingranted in most cases, uponcredit written request, to reprint or reproduce articles ® as any writers and photographers whose names appear withtothe andREALTOR photographs. , as well andtophotographs in this issue, provided proper credit is given Thearticles Salt Lake While unsolicited original manuscripts and photographs related to the real estate profession as to any writers and photographers whose names appear with the articles and photographs. are welcome, no payment is made for their in the publication. While unsolicited original manuscripts and use 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 ® ® not necessarily by theand Saltadvertising Lake Board content of REALTORS REALTOR Views andare opinions expressedendorsed in the editorial of the. However, The Salt Lake advertisers do not make publication of this magazine so consideration products and necessarily endorsed by the Saltpossible, Lake Board of REALTORS®.ofHowever, REALTOR® are services listed greatly appreciated. advertisers doismake publication of this magazine possible, so consideration of products and services listed is greatly appreciated.

OFFICIAL PUBLICATION OF THE OFFICIAL PUBLICATION OF THE SALT LAKE BOARD OF REALTORS ®® SALT LAKE BOARD OF REALTORS REALTOR is a registered mark which identifies a professional in real estate who subscribes

fun story I recently heard reminds me of each and every one of you. A Buddhist Monk was near a river with another person. The monk noticed that there was a scorpion in the water drowning. The monk scooped up the scorpion with his hand and it stung him. He placed the scorpion on dry land so it would be safe. The monk noticed another scorpion drowning in the river banks as well. He scooped that scorpion up to save him and that scorpion stung him. Now his hand started to swell and turn color. He noticed another scorpion drowning and got down to save that one. That scropion stung him as well. Now his hand started to swell going up his arm. A person watching said to the monk, “Do you not know it is in the scorpion’s nature to sting you?” The monk answered, “And it is in my nature to save the scorpion.” For years as an independent real estate agent and brokerage I wasn’t really sure what the Board of Realtors® did for me — besides giving me keys and access to the Multiple Listing Service. After getting more involved I started to realize what an amazing organization this truly is. I may have been an agent that at one time wanted lower dues or didn’t invest in RPAC. I’m so very grateful for all the agents that have been like this monk. These agents have devoted their time and money to our board, our industry, and to private property rights. Often they get stung. They take time out of their personal lives, they take money out of their personal accounts and invest it where each of us benefit. These awesome examples are the reason why we have such a great profession today. It’s truly amazing that we have a system that allows us to get an offering for compensation when we show another agent’s listing. It’s truly amazing that year after year our organization fights so that certain laws don’t get passed that hurt our industry and hurt private property rights. Recently proposed legislation was introduced in Utah that would have required every real estate agent to get an escrow license. We also reworked a current law that made listing contracts unenforceable (the seller wasn’t required to pay an agent even though he or she signed a listing agreement). Because of our board, because of RPAC and more importantly because we had Realtors® that understood this and believed in this organization each of us have an amazing career that doesn’t get flushed down the toilet with red tape. It’s a constant fight at the Hill. That is why within the next couple months several good friends of mine along with myself will be obtaining the RPAC level of Hall of Fame. I’m grateful for all those that have served and invested in RPAC that have made the profession what it is today. I encourage each of you to invest in RPAC to keep us going. The moment we stop and do nothing is the moment someone will step in and take away everything we have worked so hard to have. You can invest $100 today in RPAC by going to slrealtors.com. Let’s all be sure to pay our fair share today.

Dave Robison 2015 President

® . toREALTOR a strict®Code of Ethics asmark a member of the NATIONAL ASSOCIATION REALTORS is a registered which identifies a professional in realOFestate who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS®.

October 2005

March 2015 | Salt Lake Realtor ® | 7

In the News

Happenings

Three Lessons from Big-Brand Marketing

Image licensed by Ingram Image

Mayor Becker Addresses RPAC Trustees Salt Lake City Mayor Ralph Becker recently met with the the Salt Lake Board of Realtors® RPAC Trustees to discuss his service as mayor, issues facing Salt Lake City and his goals for a third term he is seeking this year. The committee discussed the city’s ambitious affordable housing plans, homeless issues, transportation, and other issues. The RPAC Trustees will be interviewing candidates in all Salt Lake area communities as part of our local elections efforts to support Realtor®friendly candidates.

There are three things Realtors® can learn from big-brand marketing, according to Inman.com. In fact, a Realtor’s approach is about more than bricks and mortar. “Too often overlooked by busy Realtors, many property listings have become a bare-bones list of bullet points haphazardly thrown together between phone calls,” the article stated. “But given the appropriate attention, the words in your listing offer an opportunity to leverage the property photography and link it to your target market’s lifestyle aspirations to create a bona fide brand.” Inman suggest three approaches: 1. Build a brand personality. Listings should use mood and tone to create a brand personality for your property that speaks to the aspirations of your target market beyond the standard features of the home — just like Rolex offers more than a watch and Coca-Cola presents a lifestyle image beyond the sugary soft drink in the can.

Photo: © Tomasz Zajda / Dollar Photo Club

Salt Lake Ranks among Best Downtowns Livability.com gives Salt Lake City high marks, recently ranking it No. 5 in its 2015 Top 10 Best Downtowns. “Longtime residents of this thriving downtown area have seen many new residential units added along with restaurants, coffee shops and places to find live music,” the website said. “The downtown area’s stable vacancy rate shows apartments and offices are being occupied shortly after they’re built. Among the statistics that helped Salt Lake City’s downtown land a spot on our list of the Top 10 Best Downtowns are the large percentage of new homeowners the city has (26 percent) and the high number of workers considered to be part of the ‘creative class,’ which includes engineers, artists, scientists and those in technology fields.” 8 | Salt Lake Realtor ® | March 2015

2. Create an emotional connection. Good real estate copywriting builds on the value of your photography by linking the images together to provide a “walk-through” experience for potential buyers. Building context around the photos, floor plan and video footage helps create a clear vision of the property in the buyer’s mind. 3. Unlock the power of potential. Rather than simply pointing out property features in your listings, take the extra step and link them to a lifestyle benefit. Too many property listings trumpet the “potential” of a home without getting specific about what that potential looks like, and how it impacts the day-to-day lifestyle of the buyer.

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The Salt Lake Board of Realtors® Congratulates its Best of 2014 Award Finalists and Winners. T he Sa lt L a k e Boa r d of R e a ltor s ® best of 2014 awa r ds

B. Thomas Colemere Realtor® of the Year

Susan Poulin Salesperson of the Year

2014 AWARD FINALISTS

Mike Morgan Managing Broker of the Year

Steve Tobias Commercial Realtor® of the Year

Commercial R ealtor® of the Year Award Finalists:

R ealtor® of the Year Award

• Jared Booth, Coldwell Banker, Sterling R

• B. Thomas Colemere, Colemere Realty

• Jonah Hornsby, Windermere Real Estate

Salesperson of the Year Award Finalists:

• Steve Tobias, Keller Williams Salt Lake City

• Susan Poulin, Summit Sotheby’s International Realty

Large Sales Team of the Year Award Finalists:

• Steve Bryant, Chapman Richards & Associates, Inc.

• The Buffy and Mark Schwieger Team,

• Joe Pierson, Keller Williams South Valley, Sterling R

Foundations Real Estate Group Buffy Schwieger, Mark Schwieger, Randy Lewis,

M anaging Broker of the Year Award Finalists:

• South Valley Proper, Keller Williams South Valley Realty

• Mike Morgan, Keller Williams South Valley,

Ryan Pettit, Chris Jones, Traci Crockett, Brysen

Susan Lewis, Ryan Dastrup, Joseph Schumann, Tyler Nelson

Sterling R

Partridge, Brian Daniels, Amy McMullen

• Rob Ockey, Century 21 Everest Realty Group

• Utah Cribs, Berkshire Hathaway Home Services Jake Breen, Spencer Janke, Peter Smith, George Reade, Katrina Brinton, Victor Ream

The Buffy and Mark Schwieger Team Large Sales Team of the Year

10 | Salt Lake Realtor ® | March 2015

T he Sa lt L a k e Boa r d of R e a ltor s ® best of 2014 awa r ds

The Judy Allen Team Medium Sales Team of the Year

The Kris Bowen Real Estate Team Small Sales Team of the Year

Bob Goodson Affiliate of the Year

Medium Sales Team of the Year Award Finalists:

George Craker A ffiliate of the Year Award Finalists:

• The Judy Allen Team, Berkshire Hathaway

• Bob Goodson, United Title Services, Sterling R

Home Services

• Braundie Kump, Magellan Title

Judy Allen, Amanda Allen, Monique Draper • Pitcher Group Real Estate Experts, Century 21

Rookie of the Year Award

Everest Realty Group

• Heidi Castain, Century 21 Everest Realty Group

Brian Pitcher, Kelly Nieves, John Hawkins

• V. Wade Henderson, Utah Real Estate PC

• Linda Secrist & Associates, Berkshire Hathaway

• Scott Schooley, Exit Realty Plus

Home Services Linda Secrist, Brett Butler, Lisa Herron McKinney,

Good Neighbor Award Finalists:

Michelle Pollock

• Dawn Houghton, Coldwell Banker Residential

Small Sales Team of the Year Award Finalists: • The Kris Bowen Real Estate Team,

• Jimmy Rex, Keller Williams Westfield

Presdient’s Award

• Sally Domichel, Coldwell Banker Residential Brokerage

Equity Real Estate Solid • Lori Ann Hendry & Lisa Woodbury, Windermere Real Estate • Babs De Lay, Urban Utah Homes and Estates

Heidi Castain Rookie of the Year

Brokerage, Sterling R

Special R ecognition Award • Kelley Anderson, Salt Lake Board of Realtors®

Jimmy Rex The Judy Allen Team Sally Domichel Good Neighbor AwardSales Team President’s Medium of the Year Award

Kelley Anderson Special Recognition Award

March 2015 | Salt Lake Realtor ® | 11

T he Sa lt L a k e Boa r d of R e a ltor s 速 best of 2014 awa r ds

2014 Platinum H all of Fame R ecipients

M. Brock Andersen, Berkshire Hathaway Home Services, Crystal R

Tuiono Malakai, Equity Real Estate, Golden R

McKensie Bayer, Keller Williams Salt Lake City

Susie Martindale, RE/MAX Masters, Sterling R

Kenneth E. Bell, Bell Realty, Sterling R

Ryan Pool, RE/MAX Masters, Sterling R

Cameron Burnside, Keller Williams Salt Lake City, Sterling R

Scott Robbins, Coldwell Banker Residential Brokerage, Sterling R

Greg Call, Berkshire Hathaway Home Services, Crystal R

Dave Robison, goBE Realty, Golden R

Joel Hair, Ulrich Realtors速

Linda Secrist, Berkshire Hathaway Home Services, Sterling R

Craig R. Hawker, Action Team Realty, 25K Hall of Fame

Laurel Simmons, Coldwell Banker Residential Brokerage, Sterling R

Dawn Houghton, Coldwell Banker Residential Brokerage, Sterling R

Debra Sjoblom, Chapman Richards & Associates, Sterling R

Adam Kirkham, Kirkham Real Estate, Sterling R

Liz Slager, Coldwell Banker Residential Brokerage, Sterling R

Ryan Kirkham, Kirkham Real Estate, Sterling R

Shelly Tripp, Coldwell Banker Residential Brokerage

Carolyn Kirkham Greene, Kirkham Real Estate, Sterling R

Mike Ulrich, Ulrich Realtors速, Sterling R

Thomas Kreifeldt, Coldwell Banker Residential Brokerage, Sterling R

Tricia VanderKooi, Coldwell Banker Residential Brokerage, Sterling R

Award Sponsors

12 | Salt Lake Realtor 速 | March 2015

Energy Efficient New Homes from the $100’s to over a Million • DAYBREAKUTAH.COM

Congratulations

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John Dowdle Destination Homes 801.949.0923

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T he Sa lt L a k e Boa r d of R e a ltor s ® best of 2014 awa r ds

2014 Gold H all of Fame R ecipients

Judy Allen, Berkshire Hathaway Home Services, Crystal R Jared Booth (CCIM), Coldwell Banker, Sterling R Jim Bringhurst, The Bringhurst Group, $50K Hall of Fame Myan Burton, goBE Realty, Sterling R Michael Carmody, Keller Williams South Valley Realty Bryan Colemere, Colemere Realty Associates, Sterling R Scott Colemere, Colemere Realty Associates, Sterling R DeAnn Densley, Mansell Real Estate, Sterling R Darlene Dipo, Windermere Real Estate Sally Domichel, Coldwell Banker Residential Brokerage Angie Domichel Nelden, Coldwell Banker Residential Brokerage, Sterling R James A. Ellis, RE/MAX Masters, Sterling R

Becky Grubel, Realtypath LLC Success, Crystal R Miriam K. McFadden, Miriam K. McFadden Real Estate Lori Khodadad, Coldwell Banker Residential Brokerage, Sterling R Troy C. Peterson, Equity Real Estate Solid, Golden R Donna Pozzuoli, Berkshire Hathaway Home Services, Sterling R Kristen K. Price, Good Neighbor Real Estate Jamie Sacks, Coldwell Banker Residential Brokerage Janice Smith, Coldwell Banker Residential Brokerage, Sterling R Cathy Sneyd, The Muve Group with Windermere Real Estate, Sterling R Mona Stevens, Keller Williams Salt Lake City, Sterling R Charlotte Thomas, Keller Williams South Valley, 25K Hall of Fame Matthew Ulrich, Ulrich Realtors®, Sterling R

2014 Distinguished Service R ecipients

Lana Ames, Windermere Real Estate Sally Beagle, Coldwell Banker Residential Brokerage, Sterling R B. Thomas Colemere, Colemere Realty, Sterling R Brian De Haan, Ulrich Realtors®, Sterling R Laura Fidler, Coldwell Banker Residential Brokerage Patti Florence, MediaOne Real Estate, Sterling R Dave Frederickson, Keller Williams Salt Lake City, Sterling R Vicki Fulkerson, Hidden Valley Real Estate Kristopher Furrow, REDFIN Corp. Bill Heiner, Cannon & Company, Sterling R Linda K. Itami, Berkshire Hathaway Home Services Lisa Jungemann, Windermere Real Estate, Sterling R Grady Kohler, Windermere Real Estate, Sterling R

14 | Salt Lake Realtor ® | March 2015

Vann Larson, Village Real Estate Craig J. Lelis, Coldwell Banker Residential Brokerage John Lucky, Coldwell Banker Residential Brokerage Cheryl Lyon, Coldwell Banker Residential Brokerage, Sterling R Lisa Martinez O’Bryan, Salt Lake City Realty ShirLee McGarry, Realtypath Success, Crystal R Kroger Menzer, Keller Williams South Valley Mike Morgan, Keller Williams South Valley, Sterling R Bart Norris, Equity Real Estate Solid Rosanne Terry, Coldwell Banker Residential Brokerage Lisa Wanlass, Cannon & Company, Sterling R Margene Wrigley, Wrigley Realty

Best of 2014 Realtor® Awards Luncheon

he Salt Lake Board of Realtors® awarded Tom Colemere the Realtor® of the Year Award at its Best of 2014 Awards ceremony held on Feb. 25. The event honors Salt Lake’s top real estate professionals based on sales volume and service. Colemere, pictured above, is a Realtor® with Colemere Realty Associates and is a member of the Board of Directors for the Salt Lake Board of Realtors®. Colemere has been a Realtor® for more than 40 years and holds several professional designations including the Certified Residential Specialist (CRS), the Real Estate Investment Advisor (REIA), Senior Real Estate Specialist (SRES), Certified Negotiation Expert (CNE), and Short Sale Expert (SSE). Colemere Realty is a three-generation family business that specializes in residential, commercial and investment sales. The company was founded in 1953 by Burgess Colemere, a World War II flight instructor. Also pictured: ShirLee McGarry shares a laugh with Mike Morgan, Keller Williams South Valley, who received the Maganing Broker of the Year Award. Angie Nelden, past president, presents Bob Goodson, United Title Services, the Affiliate of the Year Award. Ryan Dastrup and Joe Schumann accept the Large Sales Team Award on behalf of The Buffy and Mark Schwieger Team, Foundations Real Estate Group. Opposite page, top clockwise: Angie Nelden and Dave Robison, president of the Salt Lake Board of Realtors®, presented this year’s awards. Angie Flint, Braundie Kump, finalist for the Affiliate of the Year Award, and Jamie Norris. Kris Bowen and Kelly Ellis of Equity Real Estate Solid accept the Small Sales Team of the Year Award. Bob Welsh and Thomas Wright with Susan Poulin, Summit Sotheby’s International Realty, who received the Salesperson of the Year Award. Dave Frederickson, a former president of the Salt Lake Board of Realtors®, with Cheryl Acker, president elect, and Shirley Jacobson, Windermere Realty.

16 | Salt Lake Realtor ® | March 2015

Photos: Dave Anderton

March 2015 | Salt Lake Realtor 速 | 17

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Majority of Realtors® Feel Safe on the Job, According to New Survey One-third of surveyed members carry a self-defense weapon.

new survey from the National Association of Realtors® found 96 percent of Realtors® have never been the victim of crime, but 40 percent have found themselves in situations where they have feared for their safety or the safety of their personal information. Some of the most common circumstances that resulted in fearful situations were open houses,

22 | Salt Lake Realtor ® | March 2015

showing vacant and model homes, working with properties that were unlocked or unsecured and showing homes in remote areas. “When I became NAR president last year, I pledged to make Realtor® safety a priority and develop new education and resources for the industry,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “It is important to know how safe or unsafe our members feel, what causes them to feel unsafe, and what steps they are taking to keep themselves out of harm’s way, so that we can respond and provide the best tools tailored to our members’ personal safety needs.” The survey asked members how safe they feel while on the job and nearly 3,000 Realtors® from across the U.S. answered questions about their personal experiences, and the safety procedures and materials provided by their brokerage. The survey found that one-third of surveyed members carry a self-defense weapon. Female Realtors® are more likely to carry pepper spray, while male Realtors® more commonly carry a firearm. Many agents, 38 percent, have participated in self-defense classes as a proactive safety measure, and 13 percent use a smart phone safety application to track their whereabouts or alert colleagues of an emergency. Also, before showing a property, the typical Realtor® meets about half of their prospective buyers, whom they haven’t previously met, in a real estate office or other neutral location. Many Realtor® associations, real estate brokerages and offices also make safety resources available to agents. Eighteen percent of members have participated in safety courses provided by their Realtor® association. Forty-six percent of respondents said their brokerage has standard procedures for agent safety in place; however, 54 percent said their brokerage either had no safety measures in place or they were not aware of them. The safety of its members is a top priority for NAR, and the association will continue to expand its Realtor® Safety Program in 2015 by unveiling new materials and applications for members and associations throughout the year. NAR established the Realtor® Safety Program to empower and inform members of the potential risks they face in this profession and how to navigate them safely. Webinars, safety materials and tips are all made available through the program, with the entire month of September dedicated to bringing more awareness to Realtor® safety among members. The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

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MEET THE LEADING SALES CONSULTANTS AT UTAH’S NUMBER ONE HOMEBUILDER. Larry Mitchell, honored recently as Ivory’s leading Sales Consultant, has closed over $90,000,000 in the past 11 years he’s been with Ivory Homes. A significant factor in his success is his ability to truly listen to homebuyers and offer professional, experienced advice regarding what options best meet their needs. Larry also attributes his remarkable success to the entire Ivory team and their commitment to excellence in all areas. In Salt Lake County contact Larry Mitchell at 801-918-7240 or larrym@ivoryhomes.com

Verlyn Pullman, is Ivory’s leading Sales Consultant in Davis and Weber Counties. Verlyn has been with Ivory for 15 years and lives in an Ivory home and community. She credits her success to unparalleled customer service, but says, “It’s easy to sell a product you believe in from a company that stands behind everything they build. Ivory has amazing quality and integrity for long term value. I’ve sold multiple Ivory homes to many families — not only second and third homes to parents but also to their children.” In Davis and Weber Counties contact Verlyn Pullman at 801-721-9299 or verlynp@ivoryhomes.com

Tim Sweat, Ivory’s leading Sales Consultant in Utah County, came to Ivory Homes over 3 years ago. Tim attributes his success to Ivory offering the best product and customer support system that assures each buyer will be taken care of properly. His laid-back personality, which does help in raising triplets, puts his customers at ease as he focuses on their individual needs. Tim finds great satisfaction in helping them work toward their dream of homeownership or ultimately building their final dream home. In Utah County contact Tim Sweat at 801-494-3552 or tims@ivoryhomes.com

“It takes a team effort to produce such remarkable results...and there is not a better team out there than Ivory Homes.” 14000

For over two decades, Ivory Homes has been Utah’s number one homebuilder*. A record like that requires a constant focus on improvement. Ivory continually finds ways to maintain high levels of quality and design while simplifying the home buying process.

12,609

12000 10000 8000

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Number of homes built by Ivory Homes vs other homebuilders * Based on number of homes built from 1990-2014. Source: Wasatch Front Construction Monitor

Photo: Keith Johnson

The 2014 Membership Survey By Curtis A. Bullock

hank you for participating in the annual membership survey a couple months ago. We always appreciate your feedback and are looking for ways we can serve you better. We sincerely value your membership! As I read many of the comments from the survey, I was encouraged to see that our members strongly believe the Board is moving in the right direction. From our government advocacy efforts, keys and key box system, to our professional standards and education programs, the consensus is that the Board is meeting our member’s needs. But that doesn’t mean there isn’t always room for improvement — so we are constantly innovating and trying to find ways that we can better serve you, the member. There were just a few comments and even some possible misconceptions about the Board that I wanted to address. My hope is to provide some further clarification and insight on how the Board functions. Hopefully this will help some of you better understand the Board, how it operates, and what our core mission and purpose is.

1. “The Realtor® building is too nice and costs the Board too much money.” – I’ve heard this

26 | Salt Lake Realtor ® | March 2015

mentioned a few times and so I wanted to alleviate this concern. As you might know, the Salt Lake Board owns the first and second floor only of the Realtor® campus building. The other three floors are owned by Utahrealestate.com and the Utah Association of Realtors® respectively. For all three owners, including the Salt Lake Board, most of the cost to occupy the building is paid for by tenants who pay monthly rental fees and their proportionate share of CAM expenses. What that essentially means is that we can occupy this building for roughly one-third of the current market rate to rent equivalent space somewhere else. So, in fact, it is very cost effective to be in this building. It has given us the ability to hold many functions, events and classes in-house. The Realtor® building is a great asset to the Board. 2. “I don’t like it when the Board sells my private email address to third parties.” – This is actually not true. The Board strictly safeguards your personal contact information and does not give or sell it to anyone. If you receive an email from a third party and you wonder how they got your contact info, rest assured that it was not from the Board.

Legal issues?

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28 | Salt Lake Realtor ® | March 2015

3. “RPAC funds are given only to one political party.” – As I’ve sat in many of our RPAC trustee meetings, I have been impressed with how non-partisan our trustees are. Whether a particular candidate receives our support has nothing to do with what political party they belong to. What we focus on is whether that candidate is friendly to Realtor® issues like private property rights and free enterprise. So it doesn’t matter whether you are a Republican or Democrat – RPAC funds are given to Realtor® friendly candidates of both parties. I don’t know many Realtors® that are in disagreement with those basic tenets regardless of party affiliation. 4. “Dues keep going up year after year.” – The Salt Lake Board of Realtors®’ local portion of the annual dues have not been increased in five years – since 2010. The year preceding that, the dues went up a mere $10. In the last several years, the Board has been very conservative and mindful of Board resources. That is not to say that a dues increase couldn’t happen at some point in the future, but we are striving to be as responsible as we can, while at the same time providing our members with the best services possible. If you compare your annual Realtor® dues with nearly any other profession out there, you will see that by paying roughly $100 per month, it is a bargain to belong to one of the longest standing and most powerful professional trade organizations in the country. 5. “The Board is run by a closed “clique” and is narrow minded.” – In the last 12 years that I’ve worked in the Realtor® family, I’ve heard this said on occasion. In my experience, nothing could be further from the truth. But let’s first define a “clique” – there are two types of cliques: (1) open cliques and (2) closed cliques. A closed clique is a bad thing. A closed clique is one in which no one is allowed “in” and it is hard to get “in.” This certainly does not exist in our Board today. On the other hand, I feel like we do in fact have

“open cliques.” This type of clique is a good thing and is common in pretty much every organization. Sure, certain people gravitate towards other people with whom they have been working for many years on the different committees. But this type of clique is one that welcomes other members that want to contribute. This type of open clique consists of a group of hard working members who are genuinely dedicated and willing to devote many hours to their organization. The open clique is delighted to welcome into the ranks any other member who is willing to donate his/her abilities, serve on committees and do the necessary things that will help make the organization “click.” And as for being narrow minded, I certainly haven’t seen that. In fact, I see the opposite. As I sit in many different Board and committee meetings, I observe a variety of different opinions shaped by different backgrounds. I observe robust discussions on many different topics on a daily basis and I take that as a Board accomplishment. So please get involved with the Board. We welcome all members! 6. “We need to raise the bar and level of professionalism of our members.” – I couldn’t agree more with this comment. Raising the bar has been a topic that I’ve heard discussed for more than a decade. This year we, and the NAR on a nationwide basis are trying to focus more on this topic. Later this spring, the NAR will be coming out with its aspirational “Code of Excellence” which will hopefully help further this goal of raising the bar. We also plan to add additional classes to our education calendar and possible designations relating to this topic. But the best way to raise the bar, is to make sure that you, yourself are acting in the most professional and ethical manner possible. Your example of how you conduct business will hopefully have an impact on someone else and make our industry better as a whole.

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2015 Forecast Breakfast

7. “The Board needs to do more with the local media.” – Yes we can always do more! We strive to be the No. 1 voice for all things real estate in Utah! To put into perspective what the Board does, over the last couple years, the Board has been responsible for well over 100 positive real estate related news stories. This translates into tens of thousands of dollars of positive free advertising as calculated by Total News Tracking. We have been quoted heavily in newspapers, magazine articles, radio spots and TV interviews. The way we do this is by creating and distributing regular press releases to our local media outlets. We have great relationships with the local news media and we try our best to tell our story. This helps our member’s customers become better educated about the local real estate market, and that in turn, helps our members close transactions. 8. “I can never get into some of the larger Board functions.” Yes this is sometimes true. I sincerely apologize for anyone that isn’t able to attend a certain Board event. The reality is that we simply have limited space at some of our events. With over 6600 members, it is nearly impossible to get everyone in. To combat this, we have tried our best to increase the size of our events and squeeze as many members in as we can, and to even provide a live webcast our annual Forecast Breakfast. This year we had nearly 800 members in attendance for that great event! We are always trying to think of ways to reach our members with as many different worthwhile and relevant events possible. 9. “There are too many social and networking events that cost too much money – I have no interest in attending these events.” If you feel that way, I would suggest that you get involved and attend some of our excellent events. Networking is one of the best ways to get to know other members and is a great way to grow your business. I have personally witnessed this happening on a regular occurrence. Networking often translates into more business.

30 | Salt Lake Realtor ® | March 2015

If you look at the Board calendar, there are a few major events that the Board puts on, and then several smaller scale events. The annual Forecast Breakfast held in January is probably our largest and most well attended and sought after events. As I mentioned above, this year we had over 800 members in attendance with several hundred live webcast viewers. That event, and the Holiday Social which is held in December, do cost money, but with our sponsors and conservative budget, we are able to pull off each event without much trouble. There are other smaller scale events throughout the year like our Awards Luncheon, Broker Town Halls, etc., but they are very small in terms of cost when sponsorship dollars are factored in. Regardless of the event being held, rest assured that Board resources are being used wisely. I take it as a personal challenge to make sure the Board is under budget in all of its various expense categories. 10. “There is too much focus on RPAC.” Yes, and this is the reason why Utah is a regulatory paradise for Realtors®! We thank every one of our members who has made an investment in their industry whether it is $15 or $5,000! RPAC is the reason we do not have a sales tax on services, do not have a transfer tax, do not have burdensome business licensing ordinances, problematic sign ordinances, bad door-to-door solicitation ordinances, and other harmful small business regulation. If we didn’t have the robust RPAC culture here in Utah like we do, you can be sure that your pocket book would be lighter and that there would be more burdensome government regulation in our business. RPAC is vital to our success and we hope that all Realtor® members will invest in their industry! Remember, if we didn’t take an interest in local politics, that doesn’t mean it wouldn’t take an interest in us! Curtis A. Bullock is the CEO of the Salt Lake Board of Realtors®.

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www.UtahHomes.com ©2015 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker Real Estate LLC, Coldwell Banker Residential Brokerage or NRT LLC.

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CONGRATULATIONS TO THE BEST IN THE BUSINESS! www.UtahHomes.com ©2015 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker Real Estate LLC, Coldwell Banker Residential Brokerage or NRT LLC.

The Vacation Home Buying a vacation home requires different criteria—and sometimes a different timetable—than a primary home purchase. Help potential clients compile a smart second-home wish list. By Barbara Ballinger

wning a vacation home is a long-held dream for many home owners. As a real estate professional, you can help clients who are considering this step weigh their options and understand this market more clearly by considering these nine key factors.

survey also found that the majority of buyers purchased a property to use for vacations rather than to diversify their investment portfolio. They spent a median of $168,700, and favored single-family houses over townhomes and condominiums.

1. Market outlook: Is inventory plentiful? Are prices trending up or down? Is an area losing its cachet, or is it heating up? Be sure to do your research on local trends so that you can give the best advice to your clients. As for the national outlook: Sales of vacation properties performed well last year, due to affordable prices and low mortgage rates, according to NAR’s Investment and Vacation Home Buyers Survey 2014. The

2. Total costs: Owning a second home can eliminate expensive hotel stays. And with roomservice burgers coming in at around $20 plus tip, buyers should calculate the total bottom line, not just the room rate. However, you should prepare buyers for another mortgage at what may be a higher interest rate than what they have on their primary residence. Also, they should consider real estate taxes, homeowner’s insurance,

38 | Salt Lake Realtor ® | March 2015

maintenance, furnishings, and gasoline or airfare to get there and back. If regular vacation costs aren’t part of their long-term plan of at least the next three to five years, hotels may prove more economically prudent. 3. Distance from home: The typical distance of a vacation home from an owner’s primary home was 170 miles, according to the NAR report. Some vacation homeowners find that paradise works best if it’s closer—within a two-hour drive or via a direct flight. Otherwise, the home may not be used often enough to offset costs. Real estate saleswoman Barb St. Amant, ABR, with Harry Norman, REALTORS®, in Atlanta, decided that the lakefront home she and her husband selected when their twin sons were 13 years old needed to be around 40 minutes away in order to be used frequently. Because their sons will soon graduate from college, they didn’t go to the house very often last year, but with her husband’s retirement, that may change. “We plan to reassess,” she says. 4. Nearby attractions: While location is still the mantra, what “the best location” means will vary. Top schools and proximity to work centers may be huge incentives for a primary home, but being on vacation may require proximity to ski slopes or a beach. Michael Degnan, broker-owner of Realty Executives, which oversees sales at the new Heritage Sands development on Cape Cod, says its 63 cottages’ proximity to 630 feet of private beach has been a major draw. For rahrah college alums, being a stone’s—or football— throw from a stadium may be more key, says Jennifer Fredericks, CRS, GRI, and broker with Better Homes & Gardens Real Estate Preferred Living in College Station, Texas. Her buyers come to attend Texas A&M University sporting events. “They want to walk to the stadium in fall for games, have everyone at their house for tailgating, or buy on a golf course so they can be close but use the house for retirement some day,” she says. 5. Maintenance: Whatever the home’s size and style—single-family, townhouse, or condo— buyers want to spend as little time as possible on maintenance. Going with new construction approaches that ideal, says Robyn Erlenbush, CRB, CRS, with ERA Landmark in Bozeman and Big Sky, Mont., where buyers go to be close to Yellowstone Park and ski slopes. While certain building materials and finishes help make a home more carefree, so do homeowner associations, onsite or nearby property management companies, and concierge services that handle upkeep and repairs. Carefree living was one reason Justin Pallis, who lives in Massachusetts near the New Hampshire border, chose a cottage at Heritage Sands. “We didn’t want to worry about cutting the

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grass or security when not there,” he says. Advise buyers to inquire about these options when house hunting.

lengthy list to obey, such as restrictions against pets. Make sure buyers understand their rights and protections before they close.

6. Furnishings: Yet another way for buyers to conserve precious vacation time is to select a furnished home rather than spending time shopping, especially from a distance. “Decorating is the last thing many want to do; and sellers may be wise to sell their home furnished,” says Patrick Jones, broker-owner of Better Homes & Gardens Real Estate Sonoran Desert Lifestyles in Scottsdale, Ariz.

9. Rentals: A universally appealing vacation home could add up to a revenue opportunity, and your buyers may already be factoring additional rental income into their second-home plans. However, homeowner’s associations may ban renting or restrict how often owners are allowed to rent out their property. Buyers should also ask their homeowner’s insurance agent and lender for rental guidelines and inquire about tax consequences with their financial professional. Buyers can use FHA loans on only primary residences, not rental properties and timeshares. Also, the down payment typically is higher on vacation property than it is for a primary home, says Tim Lucas, editor of mymortgageinsider, an online mortgage resource. Rules also differ if a vacation home is being used as an investment property.

7. Amenities: Besides the location, onsite amenities can increase the appeal of one home over another. If extended family and friends regularly vacation with your buyers, encourage them to ensure they have a sufficient living space — both indoors and outdoors, depending on the location. If socializing is the main goal, you may also want to recommend the advantages of a clubhouse or party room. At Harbor Shores in Benton Harbor, Mich., a 538-acre development on Lake Michigan, one clubhouse features a full-service restaurant. Jones in Scottsdale has found that many older vacationers seek a sense of community in these amenities, especially when traveling from afar. 8. Rules and restrictions: Single-family homes may come with no guidelines, except for those the town dictates — when watering lawns is permitted, for instance. But homes in a development or condo community often have a

40 | Salt Lake Realtor ® | March 2015

One final tip: If your clients are uncertain, you may want to suggest that they rent for a year before purchasing a second home. That way they can try an area out during different seasons, to test if their fantasy meshes with reality. They’ll be better clients in the long run, once they’ve taken the time to fully understand their vacation. Reprinted from Realtor® Magazine Online, November 2014, with permission of the National Association of Realtors®. Copyright November 2014. All rights reserved.

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Housing Watch Q4 Lack of New and Affordable Housing Listings Pushed January Home Sales Down

ome sales in Salt Lake County in January dropped as prices continued to rise, according to the Salt Lake Board of Realtors®. Salt Lake home sales (all housing types) decreased 5 percent to 776 sales in January compared to the same month last year. It was the slowest sales activity for a January month in three years. Nationally, January home sales were up 3 percent compared to January 2014. However, on a seasonallyadjusted basis January’s sales activity declined to its lowest rate in nine months, according to the National Association of Realtors®. The Salt Lake Board of Realtors® does not seasonally adjust its home sales data. Lawrence Yun, NAR chief economist, said the housing market got off to a somewhat disappointing start to begin the year with January closings down throughout the country. “January housing data can be volatile because of seasonal influences, but low housing supply and the ongoing rise in home prices above the pace of inflation appeared to slow sales despite interest rates remaining near historic lows,” he said. “Realtors® are reporting that low rates are attracting potential buyers, but the lack of new and affordable listings is leading some to delay decisions.” The median home price in January in the Salt Lake area increased to $235,880, an 8 percent rise compared to a median price of $218,000 in January 2014. There

Salt Lake County Sales (all housing types) Year-Over-Year (Down 5%)

819 42 | Salt Lake Realtor ® | March 2015

776

2 - C OL OR

were 1,278 homes under contract in January in Salt Lake County, a 28 percent increase compared to 1,000 pending sales last year during the same month. The months supply of inventory in Salt Lake County fell to 3.6 months, down 10 percent compared to 4 months a year ago. In Davis County, home sales in January climbed to 252 sales, an increase of 6 percent compared to 238 sales in January 2014. The median home price in Davis County in January increased to $209,326, up 3 percent compared to the median price in January 2014. Nationwide, all-cash sales were 27 percent of transactions in January, up from 26 percent in December but down from 33 percent in January of last year. Individual investors, who account for many cash sales, purchased 17 percent of homes in January, unchanged from last month and below January 2014 (20 percent). Sixty-seven percent of investors paid cash in January. Distressed sales – foreclosures and short sales – were 11 percent of sales in January, unchanged from last month but down from 15 percent a year ago. Eight percent of January sales were foreclosures and 3 percent were short sales. Foreclosures sold for an average discount of 15 percent below market value in January (unchanged from December), while short sales were discounted 12 percent (also unchanged from last month).

Salt Lake County Median Price (all housing types) Year-Over-Year (Up 8%)

$218,000

$235,880

2 - C OL OR

Salt Lake County Days on Market (all housing types) Year-Over-Year (Up 1%)

2 64

Sales $ Davis County

Median Price (all housing types) Year-Over-Year (Up 3%) $209,326

Salt Lake County

Pending Sales (Up 28%)

1,278

1,000

Sales

Davis County Sales (all housing types) Year-Over-Year (Up 6%)

252

238

$204,000 March 2015 | Salt Lake Realtor 速 | 43

REALTOR® Connections Q&A: Chris McDonald Chris McDonald is CEO of the Realtors® Federal Credit Union. Q: What is the Realtor® Credit Card? A: This card is a new choice for credit available to current and new members of the Realtors® Federal Credit Union, a division of Northwest Federal Credit Union. This card removes barriers our members may face from other banking institutions when seeking credit. The credit card is offered for personal and business accounts. By using separate cards for your expenses, you can simplify and improve your record keeping. Q: What features does the card offer? A: Competitive rates, no annual fee, no balance transfer fees and no cash advance fees. Realtors® can also choose from a variety of design choices that include real estate-themed designs and branding options for residential or commercial practitioners. The cards also are available for family members and non-member association staff. Q: How do I apply? A: To join the credit union and to apply for the card call the credit union’s member service center at 866.295.6038 or visit: realtorsfcu.org.

Serving the Realtors®

Pictured: Kris Taylor, left, membership director; Lynn Anderson, director of accounting; Amanda Wright, key administrator; and Molly Nielson, member services representative.

The staff of the Salt Lake Board of Realtors® at the registration desk at this year’s Best of 2014 Realtor® Awards. The 12-member staff serves more than 6,600 members.

44 | Salt Lake Realtor ® | March 2015

On the Move More than 400 of Utah’s leading real estate professionals gathered in February for Coldwell Banker Residential Brokerage’s annual awards and recognition event, honoring the company’s top agents for their work in 2014 and providing a look ahead for the coming year’s housing market. The one-day event at the Little America Hotel in Salt Lake City, entitled “Staying Connected,” recognized agents with awards for top sales, customer service, community service, distinguished service and a variety of other honors. The Top Office, Rookie of the Year, and President’s Awards were also handed out. CoreLogic reported that Utah posted the biggest percent decline in foreclosure inventory in December year-over-year of all states. Thirtythree states showed declines in foreclosure activity of greater than 30 percent for the month, with Utah leading the decline at -48.8 percent. The report noted that Utah’s foreclosure inventory as a percentage of all mortgaged homes fell to 0.5 percent in December with 3,756 completed foreclosures for the 12 months ending in December. Nationally, as of December 2014, approximately 552,000 homes were in some stage of foreclosure, known as the foreclosure inventory, compared to 840,000 in December 2013, a year-over-year decrease of 34.3 percent and representing 38 consecutive months of year-overyear declines. Equity Real Estate welcomed the following new Realtors®: Robert Leonard, Melody Nolan, Shellie Barson, Michael Robinson, Mary Jo Lund, Linsey Harkness, Robin Perry, Linda Hincy, Bruno Tori, Aric Jensen, Mark Hawes, Saxony Record, Nader Oskoui, Joshua Tukuafu, Anne Tuckett, Melissa VanLeeuwen, Charles Schwarz, Amanda Heller, Jeila McGuire, Steve Curtis, Jay Rasmussen, Chris Lynch, Nik Lingren and Ibette Barraza.

Congratulations Congratulations to... to...

Kris Kris Bowen Bowen Real Real Estate Estate Team, Team, Equity Equity Real Real Estate Estate Solid Solid Small Small Sales Sales Team Team of of the the Year, Year, Salt Salt Lake Lake Board Board of of REALTORS® REALTORS®

Preston Preston Hicks, Hicks, Equity Equity Real Real Estate Estate Utah Utah

Utah Utah County County Association Association of of REALTORS® REALTORS® Rookie Rookie of of the the Year Year

We’re We’re proud proud of of your your accomplishments! accomplishments!

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