STANDING OUT FROM THE CROWD: HOW TO CREATE AN EFFECTIVE VALUE PROPOSITION ON PAGE 24
SHOW YOUR VALUE ON SOCIAL MEDIA ON PAGE 26
JULY | AUGUST 2024
THE NEUROSCIENCE BEHIND DECISION-MAKING: CLOSING MORE DEALS ON PAGE 28
5 COMMON MYTHS ABOUT REALTORS® AND HOW TO DEBUNK THEM ON PAGE 30
OC HOUSING UPDATE: THE INVENTORY IS FINALLY RISING ON PAGE 36
Remembering Jeffrey Jackson: A Journey of Dedication and Passion
The world lost a wonderful human being, and Orange County REALTORS® lost our 2024 President, Jeffrey Jackson. This issue of OC REALTOR® contains a tribute to Jeff’s life, his dedication to the Association, and the beautiful memories his friends and colleagues share of him.
I Need An EXCEPTION!
CCM is the direct source of Non-QM business with in-house options where we process, underwrite, and close with 40% exceptions!
As one the top 3 lenders in the country, we have the autonomy to prioritize and make exceptions that fit the buyer’s needs. Our Motto, Leave NO LOAN Behind!
FNMA, Freddie Mac, State bond, FHA, VA, Jumbo, Bridge, Non-QM, Construction, HELOC, Business Purpose, Small Commercial and Land loans. We have it all!
1 in 44 mortgages closed in the USA for 2023 are CrossCountry Mortgage!
. 87 7. 23 7. 96 94 Call Today
JJ Mazzo - Executive Vice President NMLS186548
MEMBER ANNIVERSARIES
IN
MEMORIAM: JEFFREY JACKSON
08
Jeffrey Jackson 1958-2024
May 2024, the world lost a wonderful human being, and Orange County REALTORS® tragically lost our 2024 President, Jeffrey Jackson. Several of Jeff’s friends and colleagues have paid tribute to him and shared some of their beloved memories together.
FEATURES
LOCAL FOCUS
Everything You Need to Know about San Clemente –The Spanish Village by the Sea
Voted by you as the city your clients ask about the most, San Clemente offers the quiet charm of a small coastal town, making it an appealing option for people interested in moving to Orange County.
CRMLS
Q&A
NAR Proposed Lawsuit Settlement Q&A Follow-Up
VP & General Counsel at CRMLS, Edward Zorn, discusses the proposed lawsuit settlement by NAR and what it will mean for CRMLS moving forward.
REALTOR.COM
Creating a Brand Voice that Stands Out – Part 2
Realtor.com explains how to develop a brand voice that stands out, and stands the test of time, in order to establish your brand’s presence. Part 1 of this article was featured in the May/ June issue of OC REALTOR®
PACIFIC SYMPHONY
A Conversation with Pacific Symphony’s Carl St.Clair
Orange County REALTORS® had the opportunity to converse with Pacific Symphony conductor Carl St.Clair in honor of his 35th year as Music Director.
THE ORANGE COUNTY HOUSING UPDATE
The Inventory is Finally Rising Steven Thomas shows how the housing inventory is finally rising, and what that means for Orange County’s housing market.
Orange County REALTORS® Celebrates Members’ 50th Anniversaries
Six REALTORS® are celebrating their 50th anniversaries this year. They have reflected upon their careers in the real estate industry.
COVER STORY
SHOW YOUR VALUE
Amidst all the changes in the real estate industry, showing your value is more important now than ever. REALTORS® who can express their worth to clients are the ones who will continue to succeed, regardless of what happens with the market and associations. Read on to learn how you can demonstrate what it means to be a REALTOR® - and why hiring one is important - to prospective buyers and sellers and turn them into long-term clients. 36 42 34 18 32 20
Standing Out from the Crowd: How to Create an Effective Value Proposition
Sydney Smythe shows how to stand out from the competition and create a well-rounded value proposition that will secure potential clients’ business.
Show Your Value on Social Media
Sabrina Blair explains how REALTORS® can market themselves on social media and what type of content is optimal for each platform to show your value.
The Neuroscience Behind Decision Making: Closing More Deals
Michelle McCann explains the neuroscience behind decision making, and how understanding it can make you a more effective negotiator. 24 26 28
30
5 Common Myths About REALTORS® and How to Debunk Them
Lea Vatenmakher shares common REALTOR®-related myths that may discourage potential clients, and how to respond when confronted with them.
DEPARTMENTS
Names in the News Education Central: Upcoming Classes by Track
EVENTS
2024 OCAR Cares Golf Tournament
OCAR Cares had its annual Golf Tournament on May 6th at the Tijeras Creek Golf Club.
On the Cover: Show Your Value
The cover design by Print and Marketing Specialist Ivan Salmeron.
ORANGE COUNTY REALTOR ® MAGAZINE
25552 La Paz Road Laguna Hills, CA 92653 949-586-6800
10540 Talbert Avenue, Ste. 225 West Fountain Valley, CA 92708 714-375-9313
2024 OFFICERS
Ed Molina President
Charleen Nagata Newhouse Treasurer
Scott White Immediate Past President
Dave Stefanides Chief Executive Officer
2024 BOARD OF DIRECTORS
Erin Barry
Mark Bennett
Kevin Budde
Mary Jane Cambria
Lisa Dunn
Tony Faulkner
Caleb Gonzalez
Van Gordon
Len Herman
Kevin Kaltenbach
Jeremy Lehman
Chip McAllister
Steve Mino
Eileen Oldroyd
Mary Rampone
Randy Rector
Lacy Robertson
Jeana Sander
Lisa Schulz
Lynne Suzanski
MAGAZINE STAFF
Sabrina Blair Director of Communications sabrina@ocrealtors.org
Love OC REALTOR®? Did you know that you can read it online, anytime? Read past issues at www.ocrealtors.org/magazine
Mission Statement
The mission of Orange County REALTORS® is to promote the REALTOR® Code of Ethics; to provide education, services, and resources to our members; and to advocate the protection of real property rights.
Notice to All Members
It is the long-established policy of this Association, California Association of REALTORS®, and the National Association of REALTORS® to adhere to both the letter and spirit of the federal and state antitrust laws. For their own protection, members should be aware of the antitrust laws as they affect their specific business activities. Any illegal activity under the state and federal antitrust laws is not in compliance with Association policy, nor is it in the interests of the Association or its members. Participation in Association activities must occur only in harmony with these very important laws. Federal law prohibits discrimination based on race, color, sex, religion, or national origin in connection with the sale or rental of residential real estate, in advertising the sale or rental of housing, in the financing of housing, and in the provision of real estate brokerage services. The OC REALTOR® editor reserves the right to review and edit all submissions. Orange County REALTORS® makes no warranties and assumes no responsibility for the accuracy of the information contained herein. The opinions expressed in articles are not necessarily the opinions of Orange County REALTORS®. Orange County REALTORS® does not necessarily endorse the companies, products, or services advertised in this magazine unless specifically stated.
OC REALTOR® (USPS 025-445, ISSN 1945-2179) Volume 15, Issue 4, is published by Orange County REALTORS®, 25552 La Paz Road, Laguna Hills, CA 92653. Periodicals postage paid at Laguna Beach, CA, and additional mailing offices. POSTMASTER: Send address changes to Orange County REALTORS®, 25552 La Paz Road, Laguna Hills, CA 92653-5127. Annual membership dues include $6.09 for a one-year (6 issues) subscription to OC REALTOR® magazine. OC REALTOR® cannot be responsible for unsolicited materials.
Publisher: Orange County REALTORS®
Printer: The Monaco Group
1958-2024 Jeffrey Jackson
Photo by
May 2024, the world lost a wonderful human being, and Orange County REALTORS® tragically lost our 2024 President, Jeffrey Jackson. Those who had the pleasure of knowing Jeff are aware of just how profound his passing is, as they remember the respect with which Jeff carried himself, the sharp wit he possessed, and his affection for his Great Dane, Niles.
Jeff also cared deeply about the Association, and courageously embraced the opportunity to lead us through these turbulent times in the real estate industry. Upon running for President, Jeff stated that his goal was “to be the best person I can be as an officer, director, and REALTOR®.” Needless to say, he succeeded on all fronts, as is demonstrated by the wonderful memories so many have shared with him.
One of Jeff’s many meaningful contributions to Orange County REALTORS® was assisting in establishing the REALTOR® and Affiliate Wellness Group (RAW Group). This important initiative serves as a safe space for real estate professionals who are struggling with personal or work-related challenges to come together and share strength and hope. The crucial support the RAW Group provides is just one part of Jeff’s incredible legacy.
Several of Jeff’s friends and colleagues have warmly shared their memories of him.
Ed Molina
Orange County REALTORS® 2024 President
Jeff and I ran against each other for President-Elect in 2022. During the Board of Directors meeting, we both were given three minutes to read our candidate speeches, I went first and Jeff followed. While we exited the conference room to allow the board to vote, Jeff shared his thoughts by telling me, “You got this, Ed, you got this!” Once we returned, we learned that Jeff won. He looked surprised but was elated. We shook hands, I wished him the best, and our friendship remained intact.
Jeff used to call me by my last name, as good friends sometimes do. We had a few things in common, same birth month and year, he was a Hoosier, and I lived in Indiana for three years. Ultimately, I served as his President-Elect. There were many coincidences that brought this friendship forward.
Most recently, I was tasked to lead the OCR Annual Meeting in his absence, and he posted, “Ed Molina, you’ll do a great job!! All my best, President Jeff.”
May my friend rest in eternal peace.
I miss my friend, Jeff. He was a good friend, a good leader, and a good soul. A sarcastic wit with an open mind, Jeff was always willing to be my accomplice, and I his, on trips to Washington, D.C., Sacramento, or wherever our Association travels took us.
Jeff and I were aligned on many things in the real estate arena. Industry volunteerism was a shared passion of ours, namely policy and politics surrounding real estate. He was the Federal Political Coordinator for Rep. Katie Porter since she was elected in 2018. He immediately asked me to be part of the team, which I gladly accepted. He took this role very seriously and led numerous meetings with her with poise and expertise. He was well-liked and well-respected by Katie and her staff.
Jeff also believed that diversity and fair housing and inclusion were vitally important, and he took the bold step to form the OCR Member Inclusion and Fair Housing Committee this year. His association leadership journey brought him to Chicago last summer to attend the National Association of REALTORS® Leadership Summit. We were there together, and we enjoyed the camaraderie of friends from across the country that shared the same passion as us.
Jeff knew he had a big battle ahead of him when he disclosed his diagnosis to a small group of friends earlier this year. He vowed to return to his duties in person as OCR President after the treatment ended. In our last conversation, a week before he passed, Jeff talked about us having a wonderful dinner at the NAR meetings in Boston this fall to celebrate his return, as he was sure he would beat this. But the cancer treatment itself was brutal and debilitating, even though Jeff fought bravely and fought hard.
We lost a good man far too soon. And I lost a good friend that I miss terribly. Jeff made me a better person. Rest in peace, my dear friend.
Jeff and I had the pleasure of being “real estate nerds of a feather, flocking together” for several years. He contributed in many meaningful ways to our association and our industry, and played a special role in many of the accomplishments when I was President in 2021.
His self-proclaimed unpopular position and his impressive precision of language are two of the reasons I was thrilled to have him in my corner. Through strategic planning, bylaws changes, and re-opening conversations, he would help take words to a whole new level. He would work his magic to “grammarize” the finished products, and we were better for it. And, on occasion when I had a weird situation and doubted a form’s interpretation, I would think, “WWJD?”
I am grateful to have shared many deep conversations with him, especially over the last 12 months. His kind heart and his sincerity for our friendship means everything to me. I am a better person for having him as a friend these last several years, and I miss him dearly.
Lisa Dunn
Lori Namazi
Orange County REALTORS® Director
2021 Orange County REALTORS® President
Erin Barry
When I think of Jeff, I think about the 4 D’s:
Down to Earth
Dry Sense of Humor
Modest Dignity
Diet Pepsi
Jeff told me, “Dave, when I’m President, you have to hold me accountable. I want to do the right thing for the Association, no matter if the decision will be popular or unpopular, no matter if people will know it’s me or not.”
Rest in peace, Jeff, we thank you for serving as our President; your contributions to the lives of those who knew you, and to Orange County REALTORS® and the real estate industry, will not be forgotten.
Jeffrey Jackson’s memorial service will be open to all Orange County REALTOR® members:
Thursday, July 11
3:00 PM – 5:00 PM Orange County REALTORS® 25552 La Paz Rd.
Laguna Hills
President's Favorites List
Favorite Hobby/Activity: Listening to jazz, following sports, keeping informed on current events.
Bucket List (1 item): Visit all 50 states (I've got 46).
Favorite Charities: Red Cross, NPR, PBS SoCal, Melanoma Foundation.
Favorite Quote: "Never let the fear of striking out keep you from playing the game."– Babe Ruth
Favorite Things to Collect: I have a collection of college sweatshirts.
Your Motto: Do what's right, even when no one is watching.
One word or phrase to describe you: I never give up.
Dream Car: Used to be a Saab, now I like my BMW.
Dream Vacation: Finding my ancestry in Germany and Great Britain.
Dogs or Cats?: Dogs – Niles, my Great Dane.
Dave Stefanides
Orange County REALTORS® Director
Orange County REALTORS® Chief Executive Officer
NAMES IN THE NEWS
Two Orange County REALTORS® Past Presidents were inducted into the 2023 RPAC Hall of Fame
Orange County REALTORS® Past Presidents Wayne Woodyard and Rita Tayenaka were inducted into the 2023 REALTORS® Political Action Committee (RPAC) Hall of Fame at the NAR REALTOR® Legislative Meetings. This recognition honors those who made substantial contributions to RPAC, by investing an aggregate lifetime amount of at least $25,000.
Past President Wayne Woodyard was recognized for his contributions.
Past President Rita Tayenaka was recognized for her contributions.
OCR President Ed Molina was Recognized for His Work on OC
G.R.I.P.
Orange County REALTORS® 2024 President Ed Molina received an award from the District Attorney for his work on OC G.R.I.P. (Orange County Gang Reduction and Intervention Partnership). Ed received recognition for his work running a soccer camp for “at risk” youth in San Clemente. Ed’s message to the children is “Work hard, have fun, and never give up!”
REALTORS® Made Herstory in 2024!
Paula Cosenza and Suzanne Gignoux were recognized by Senator Janet Nguyen, Senate District 36, as 2024 California Women Making Herstory.
Paula Cosenza expressed that she is honored and grateful to receive this recognition.
Suzanne Gignoux expressed that receiving this recognition means a lot to her as she truly admires Janet Nguyen’s dedication.
Orange County REALTORS® Members
Met with Congresswoman Young Kim
Orange County REALTORS® attended a Legislative Luncheon hosted by Laguna Hills Chamber featuring Congresswoman Young Kim
From left to right: Karl Heft, Jake Anderson, Jim Thor, Mary Rampone, OCR Past President Scott White, Congresswoman Young Kim, Ron Pascual, Elizabeth Otok, Beatriz Wade, and Glenn Perez
Orange County REALTORS®
Went to Sacramento to Advocate for Homeownership Rights
Orange County REALTORS® advocated for homeownership rights at C.A.R. Legislative Day on May 1st. By meeting with elected officials face-to-face, OCR was able to support bills that promote homeownership rights and argue against bills that would hinder the real estate industry.
Joyce Endo, Ron Pascual, Assemblyman Tri Ta, Erin Barry, and Erik Papke
Adam Ruiz, Assemblywoman Kate Sanchez, Colleen Trujillo, Jola Cook, and Mary Rampone
Assemblywoman Cottie Petrie-Norris with Matt Cortez
Chip McAllister and Senator Josh Newman
Jeremy Lehman, Chip McAllister, Assemblywoman Diane Dixon, and Laurie Johnson
Caleb Gonzalez, Assemblywoman Laurie Davies, and Past President Scott White
2024 Leadership Academy attended Legislative Day in Sacramento
C.A.R. Directors and 2024 Leadership Academy toured the Capitol
Orange County REALTORS® with Senator Janet Nguyen and Senator Josh Newman
C.A.R. YPN group in front of the State Capitol Building
OCR Supports WomanUp!
Orange County REALTORS® attended the WomanUp! Conference on June 12th and 13th at the Marriott Hotel in Dana Point. OCR members Michele Williams Harrington, Eileen Oldroyd, Regina Singh, Lisa Dunn, and Lori Namazi spoke at the event.
Laurel Real Estate Resources co-owners, Lisa Dunn and Lori Namazi spoke on the Power of Partnerships. Lisa stated, “Our business partnership was cemented at the 2018 WomanUp event, so it seemed fitting that we were on this panel together. It was an honor that our partnership was highlighted!” Lori called the conversation “fun and engaging,” and emphasized the importance of playing to each other’s strengths, trust, communication, and fun within a professional partnership.
Lori Namazi also moderated a panel titled So the Business Rules Have Changed, NowWhat? featuring panelists Karol Kochova, Cheryl Keller, and fellow OCR member Regina Singh.
Eileen Oldroyd gave a presentation titled Three Women Navigated Unprecedented Change, How Did They Do It? about female experiences within the association.
Michele Williams Harrington participated in a panel titled From the Armed Forces to Real Estate – What it Takes to Lead. Michele spoke about the skills she learned while in the armed forces, and how she used them in her real estate career.
Laurel Real Estate Resources co-owners, Lisa Dunn and Lori Namazi (pictured above on the left)
Caleb Gonzalez, Mary Rampone, Van Gordon, Mary Jane Cambria, Tony Faulkner, Lori Namazi, OCR President Ed Molina, Joyce Endo, and Lisa Dunn at WomanUp!
The Votes for the Orange County REALTORS® Board of Directors
are in!
Congratulations to the newly elected Orange County REALTORS® Directors!
2025-2026 Board of Directors.
Names in the News is intended to be primarily a place where REALTOR® and Affiliate members of Orange County REALTORS® can share professional news—about accomplishments, awards, and other milestones—with one another. If you have news to share, please submit it online at www.ocrealtors.org/names.
Patty Carpenter, Danielle Corliss, Matt Cortez, Brian Genovese, and Colleen Trujillo will serve on the 2025-2027 Board of Directors. Chandy Andre will serve on the
Known as the Spanish Village by the Sea, San Clemente was envisioned as a Mediterranean-style resort town. In fact, it once had an architectural review board to ensure future buildings would all share the city’s trademark white exteriors with red roofs. Nowadays, San Clemente may have modern buildings, but it still offers the quiet charm of a small coastal town, making it an appealing option for people interested in moving to Orange County.
Those familiar with San Clemente already know the popular attractions, such as the event venue Casa Romantica, the Talega Golf Club, and the San Clemente Coastal Trail. However, San Clemente has far more to offer. One of the city’s more unique hidden gems is the Lost Pier. Back in 1939, the coastal town had a pier that was destroyed in a storm. You can still see remnants of the once-prominent structure during low tides. History buffs would also enjoy learning about San Clemente’s “Western White House” aka President Richard Nixon’s vacation home.
Clients with young children would be intrigued by this next secret spot – Courtney’s Sandcastle. This playground is designed for children who have special needs, and is completely free to enter. Courtney’s Sandcastle boasts a castle play structure with ramps for wheelchairs, a sensory garden, and swings with bucket seats, just to name a few of the playground’s attractions. Visit www.courtneyssandcastle.com to learn more.
Other San Clemente Attractions Your Clients Should Know About:
» Linda Lane Park – Family-friendly playground with ocean views and beach access. www.sanclemente.com/parks/linda-lane-park
» Cabrillo Playhouse – Ideal date night spot with shows like Calendar Girls and Nightlife at the Moulin Rouge. www.cabrilloplayhouse.org
» Lost Winds “Lausens” Beach – Volleyball court, lifeguard tower, and restrooms for a classic beach day. www.sanclemente.com/beaches/lost-winds-lasuens-beach
» Surfing Heritage and Culture Center - Vintage surfboards, iconic photos, and community events for surf enthusiasts. www.shacc.org
» Los Molinos Brewery – Cold beer and hot food in San Clemente’s oldest industrial park - what more could you ask for? www.losmolinosbeer.com
» Zebra Coffee Shop – Family-owned café with food, drinks, events, and catering - making it a local favorite. www.zebrahousecoffee.com
» San Clemente Farmers Market – Fresh produce and a welcoming atmosphere every Sunday from 9:00 AM to 1:00 PM. www.sanclemente.com/san-clemente-farmers-market
Photos by
www.adobestock.com
/jonbilous,
PaulMassiePhoto, Unwind, and Erik
NAR Proposed Lawsuit Settlement
Q&A Follow-up
with Edward Zorn, VP & General Counsel, CRMLS
Orange County REALTORS® spoke with VP & General Counsel at California Regional Multiple Listing Service (CRMLS), Edward Zorn, to discuss the proposed lawsuit settlement by NAR and what it will mean for CRMLS moving forward.
Q: How will CRMLS help Agents and Brokers transition to a post-settlement environment where commissions are not guaranteed?
A: CRMLS will be providing training resources to our users and subscribers aimed at helping them navigate proposed changes to the C.A.R. forms, new MLS fields, and other changes that are arriving in the wake of the settlement. We have also created, and will continue to maintain, a resources page that provides all kinds of information about the settlement itself and its impact on CRMLS users: go.crmls.org/nar-settlement-resources
Q: How will the August 13, 2024 changes affect current transactions that are in progress but not yet accepted?
A: For any listing where there has been an accepted purchase agreement, nothing needs to change and the offers of compensation will remain. For listings which are still in Active, Coming Soon, Hold, or Withdrawn status on August 13, the compensation field will be removed. It may be useful for these listings to make amendments to the listing agreement that explain and/or accommodate this change; C.A.R. has developed a form for this purpose.
Q: How does CRMLS plan to enhance transparency in real estate transactions as a result of the settlement?
A: CRMLS has already rolled out our new Concessions in Price (CiP) fields. These fields allow a Seller and their Listing Broker the opportunity to advertise a willingness to consider Buyer concessions and, if they wish, include a specific dollar amount or percentage of concession that the Seller would consider providing within the list price. CRMLS is also working on modifying the concession reporting requirements for a Closed sale. Additional fields will be added so that Listing Agents can specify and provide more details about any concessions that occurred in the actual transaction when closing out a listing. All of this will provide more information about the transaction, which translates to greater transparency overall.
Q: What steps is CRMLS taking to ensure compliance with the new regulations while maximizing benefits for Agents and Brokers?
A: The new concession fields have all been designed to fully comply with the requirements of the settlement agreement. We have convened a task force of the Rules Committee to evaluate and provide opinions regarding the concession fields. This committee will also make recommendations to the Board of Directors for additional compliance issues and potential fines to assist in the enforcement of the mandatory Buyer Representation Agreements before showing a property. We have also been working hard to provide our users with more datadriven insights by modifying our licensing agreements and entering into new agreements that will bring even more data to our Brokers and Agents.
Q: What ongoing communication and updates can CRMLS members expect as the settlement implementation progresses?
A: We will be sending out informative emails that will provide links for additional details – please be sure to read these as we share them! Anyone can also consult the information we have provided on the CRMLS Resources: NAR Proposed Settlement page at go.crmls.org/nar-settlement-resources.
Q: How are “Seller Concessions” different from Buyer Commissions when the amount allowed looks a lot like the old commissions offered?
A: The fields serve entirely distinct purposes. The existing offer of compensation field is automatic, guaranteed, and is exclusively for the payment of the Buyer Broker. A Seller Concession can be used for any purpose that benefits the buyer. A concession could be used to pay escrow and title fees or to help the buyer in paying financing costs or buying down a loan interest rate. The concession can also be used for home improvements and upgrades. None of these uses can be utilized by a buyer under the current offer of compensation system.
Another distinction is that the concession must be included in the offer to purchase the property and is fully subject to negotiations between the Buyer and Seller themselves as part of the transaction. Contrast this with the unilateral offer of compensation: made between only the Brokers involved in the transaction, without involving the Buyer or Seller. While the concessions in price fields will be new to CRMLS, concessions have historically always been part of real estate transactions - almost 40% of all closings in the CRMLS database in 2023 show a Seller concession. This is even more important for first time or disadvantaged home Buyers. In May 2023, almost 64% of the closings that involve an FHA loan had Seller-paid concessions above and beyond the offers of compensation. In fact, the average percentage of the Seller concessions was 1.8% - and remember, these concessions went towards Buyer costs, and none of the amount went towards paying the Buyer’s Agent.
Q: What is the practical way of disallowing a visitor during an open house who doesn’t want to sign anything? Said differently, are we allowed to stop a visitor from seeing the home if they don’t want to comply with the new rules?
A: There is no CRMLS rule that prevents any visitor from going to an open house that is hosted by any Agent with the Listing Broker. The rules specifically state that there is no additional obligation or duties placed upon the Listing Brokerage Firm related to requirements for Buyer Representation Agreements.
Q: Members are hearing that NAR won’t change the code of ethics until Jan 1, 2025. How will “violations” be handled during that gap? Specifically, the COE rule against negotiating the commission within the offer?
A: There is no code of ethics violation concerning when a Buyer requests that the Seller pays for the Buyer Agent fee. NAR had a long-standing case interpretation conferring that a Buyer directly requesting the Seller pay the Buyer fee within a contract does not violate Article 16.
Q: Can the concessions be used to pay the Buyer’s Broker?
A: The advertisement of a concession may not be limited or conditioned in use. The Buyer can decide exactly how they wish to utilize any potential Seller Concessions. The Buyer can request that the Seller pay for escrow and title fees, or pay for low points (mortgage or discount points lowering the home loan interest rate). The Buyer can also ask the Seller to pay for some home improvements or updates, and the Buyer can request that the Seller pay for some or all of the Buyer’s Broker fee.
STANDING OUT FROM THE CROWD : HOW TO CREATE AN
By: Sydney Smythe
MARKETING AND COMMUNICATIONS ASSISTANT
Imagine you're in a room with 100 other real estate agents, and a potential client walks in, looking for the perfect match. Do you know what you'd pitch to them to win them over? Standing out from the competition and presenting a well-rounded value proposition is essential for capturing potential clients' attention and securing their business.
A value proposition is your chance to make a statement and show potential clients what you bring to the table. It outlines your services and fees, but more importantly, it highlights the unique benefits and advantages you offer. Including it in your pre-listing package or buyer presentation, along with sample property ads, testimonials, and other supporting resources, can effectively back up your claims and make a compelling case for why someone should choose you as their REALTOR®.
SOLD FOR SALE FOR RENT
When crafting your value proposition, remember that consumers are always looking for the best value. They want the most bang for their buck, so make sure to highlight all the services you offer. Don’t overlook the small details—those little extras can give you the competitive edge you need over other competing agents. Even mentioning something as simple as having grown up in the area can do wonders!
Additionally, focus on addressing your clients' "pain points." What are their biggest concerns? Are they worried about terms and contingencies, or do they show more concern when it comes to staging and preparing for open houses? Customize your pitch to emphasize how your services can meet their specific needs and alleviate their worries. By tailoring your approach, you'll show clients that you truly understand and can cater to their unique requirements.
Of course, you can highlight numerous reasons why you're the best choice for a client but backing up your claims with solid statistics will really set you apart. To seal the deal, consider presenting data such as:
☑ Comparable properties
☑ Average days on the market for your previous listings
☑ Effective pricing strategies you’ve used in the past
☑ Savings from previous listings through your industry connections (such as reduced inspection costs)
☑ Views and engagement on your property listings
☑ Successful negotiations that favored your clients
Using these statistics not only bolsters your value proposition but also gives clients concrete evidence of your success and expertise.
Creating a well-balanced value proposition can be time-consuming, especially when considering differences between clients and catering to their specific needs. In the end, showcasing your services, benefits, and having statistics to back up your claims can better demonstrate your genuine value and expertise. With this well-rounded approach, clients will become convinced that you are their perfect fit to guide them on their real estate journey.
By Sabrina Blair
DIRECTOR OF COMMUNICATIONS AND PROGRAMS
Now, more than ever, it’s vital for REALTORS® to be able to show their value and communicate their worth to the public. Home buyers and sellers are inundated with information, even some misinformation, so it’s important for your business that you can market yourself as an expert. One very popular avenue for marketing is through the various social media platforms. According to Statista, there are over 302 million social media users in the US alone, that’s 90% of the adult population. Chances are your next client is using one or more of the platforms below, so let’s look at what type of content is optimal for each platform to best showcase your value.
Source: Statista.com
Facebook – Active Users: 74.2% of U.S. Adults
Facebook is the most popular social media platform and has been for a long time now. Over the years, the type of content that you could post on Facebook has evolved. With the addition of photos and videos over the years, text-only posts have declined in popularity. It is recommended for most platforms to post a visual of some sort to ensure your post doesn’t get lost in the sea of the News Feed. With that said, the best type of content to post is video, followed by photos. Facebook is the platform where people go to engage with people they know. It’s like a family reunion on Facebook, so content that makes your audience feel like a part of your family will likely be well-received. For example, share photos of your clients with the new home they just purchased or a video of you walking through a listing while you describe the features of the home as if you are talking to a friend. This will help your followers be able to picture themselves working with you. Feel free to tag people in your posts and make sure your content is shareable so they can post it too!
Instagram – Active Users: 60.7% of U.S. Adults
Instagram, which is under the umbrella of Meta, along with Facebook, is the next most popular platform for adults. Instagram has always been geared towards visual content which is why this platform requires that you post a short video or an image. Being that this is a visual space, you will want to post eye-catching content. You need to stand out from the crowd of other images and videos, so don’t be afraid to be bold with color choices. Behind-the-scenes (BTS) content is great for Instagram because it creates a sense of inclusivity for your followers and makes them feel like they know you on a more personal basis. And who doesn’t want to hire someone they feel like they know and trust? Examples of BTS content would be showcasing your team of business partners, like a photo from a meeting with your trusted lender or transaction coordinator; or a video with your go-to inspector to dispel the top myths about home inspections.
TikTok – Active Users: 42.4% of U.S. Adults
TikTok has got to be the fastest-growing platform in recent years but it’s not all just about viral dance trends. TikTok has a wide audience and is continually growing as people discover that there is much more to be found on the app. A good number of users have started turning to TikTok to get recommendations, tips, and various life hacks as well. TikTok videos can be between 15 seconds and 60 seconds long, but you have the ability to string together a series of videos to provide longer form content. Why not share the top 5 things a first-time buyer needs to do before they look for houses or provide your best tips for getting an offer accepted? This type of content shows you know your business and you are willing to share that expertise with others. If you want to get the most bang for your buck, utilize trending audio (music or sounds) with your videos and they will likely get more views. Have fun with it and show your personality!
X (formerly Twitter) – Active Users: 41.8% of U.S. Adults
X (formerly Twitter) is one of the few platforms where text-only posts are still popular. However, you must keep it succinct because there is a 280-character limit on X posts. X posts tend to lean towards more commentary content rather than facts, but you can blend the two to provide your expert opinion on the current housing market while sharing a news article about interest rate trends. Create a simple graphic in Canva or use our OC Market Snapshots available at www.ocrealtors.org/ snapshot, to display the latest housing stats and write a few words about what you’re seeing in the market. Is it a good time to buy? Is the housing supply starting to grow? Take this opportunity to provide easily digestible content to the public while showcasing that you are up to speed on the latest industry news.
LinkedIn – Active Users: 28.7% of U.S. Adults
LinkedIn is often viewed as the place to go when you’re looking for a job, but it’s grown to be much more than that. It’s a place to network with other professionals, celebrate one another’s accomplishments, and share data-based information. People on LinkedIn are looking to make professional connections or find reliable sources of information. Infographics are a great tool to convey a lot of information in a simplified format and LinkedIn users love a good infographic. Show your knowledge of a particular neighborhood or city with a visually compelling graphic showing demographic statistics or the average market times and prices. Not sure how to create an infographic? There are many tools online, including Canva, that can help you design your own. Alternatively, you can share one from another source such as the Local Focus feature on pages 18-19.
For more value proposition resources, visit www.nar.realtor/competition-in-real-estate/ realtors-as-champions
THE NEUROSCIENCE BEHIND
DECISION-MAKING: CLOSING MORE DEALS
By: Michelle McCann MARKETING MANAGER
As REALTORS®, it is common to participate in intense negotiations and collaborate with clients through various decisions to secure the best deal. But have you ever wondered what goes on in the brain during these high-stakes negotiations? Understanding the neuroscience behind decision-making can transform your approach, making you not only a better negotiator but also a more empathetic and effective advisor.
Understanding the Decision-Making Process
At the core of every negotiation lies a series of decisions. Neuroscience research suggests that our brains are wired to process decisions through the rational brain and the emotional brain. The prefrontal cortex is the decisionmaking part of the brain; it's the part of the brain responsible for rational thinking. The limbic system is the part of the brain involved in our emotional responses; it influences feelings, instincts, and gut reactions.
Emotions significantly impact our choices during negotiations, sometimes leading to decisions that defy rationality. Logic helps in evaluating the merits of an offer, but decisionmaking isn’t logical, it’s often primarily emotional. As REALTORS®, understanding what drives decision-making and connecting with your clients on an emotional level can help you negotiate more effectively.
The Role of Cognitive Biases
Cognitive biases are mental shortcuts our brains use to simplify decision-making. However, they can also lead to errors in judgment. Here are a few biases that commonly occur in negotiations:
❒ Anchoring Bias: This occurs when individuals rely too heavily on the first piece of information they receive (the anchor) when making decisions. In real estate, the initial listing price often serves as an anchor, influencing all subsequent negotiations.
❒ Confirmation Bias: People tend to favor information that confirms their pre-existing beliefs. This bias can cause clients to overlook important details that contradict their expectations or desires. If clients have a positive impression of a property, they may downplay its flaws or overlook important details. Similarly, they may give weight to news articles that align with pessimistic outlooks on the market or a neighborhood. Confirmation bias can hinder clients from being objective and critical.
❒ Loss Aversion: Research shows that people feel the pain of loss more intensely than the pleasure of gain. In negotiations, this can make clients overly cautious or unwilling to compromise, fearing potential losses more than valuing prospective gains. For instance, homeowners often refuse to reassess their property's value based on the current market price if it is lower than the purchase price, anchoring the resale price to the original purchase price instead.
By recognizing and understanding these biases, you can better guide your clients toward making more balanced and rational decisions throughout the negotiation process.
The Power of Empathy
Empathy, the ability to understand and share the feelings of another, is another powerful tool in negotiations. Empathy activates specific areas of the brain associated with social bonding and trust. When clients feel understood and valued, they are more likely to be open and cooperative, paving the way for smoother negotiations.
To harness empathy effectively, practice active listening. Pay attention to your clients' verbal and non-verbal cues and validate their emotions. This not only builds trust but also provides insights into their underlying motivations and can be crucial in writing compelling offers.
The Art of Persuasion
Persuasion in real estate negotiations goes beyond basic sales techniques. It’s about painting a vision for clients, creating compelling narratives, and building trust. Instead of merely presenting properties, REALTORS® can leverage persuasion techniques to guide clients through the decision-making process. Consider the following strategies to enhance your persuasive abilities:
❒ Scarcity Principle: The brain values rare opportunities and limited supply more highly than something easily obtainable. Highlighting the unique features of a property or the limited time that a deal is available can create a sense of urgency. REALTORS® can use the principle of scarcity by creating exclusive or limited-time offers such as free home warranties, personalized reports, invite-only events etc.
❒ Social Proof: People tend to follow the actions of others, especially in uncertain situations. Sharing testimonials or examples of similar clients who benefited from a deal can reinforce the desirability of your offer. REALTORS® can also display the number of homes sold or the number of years of experience they have, to establish creditability and social proof indicators.
❒ Reciprocity: The principle of reciprocity suggests that people feel obliged to return favors. Offering small gestures of goodwill, something of value, or going above and beyond can encourage clients to reciprocate, making them more amenable to compromise.
By understanding the neuroscience behind decisionmaking and leveraging strategies rooted in empathy, cognitive biases, and persuasion, REALTORS® can achieve better outcomes during negotiation discussions.
5 COMMON MYTHS About REALTORS® and How to Debunk Them
By: Lea Vatenmakher COMMUNICATIONS SPECIALIST
No matter how legitimate the real estate industry is, perception often shapes reality. Despite the professionalism and dedication of REALTORS® to their clients' needs, there are certain stereotypes about REALTORS® that persist – despite being completely unfounded. The image people have in their minds about real estate agents can make it difficult to approach potential clients or convince a dubious buyer or seller that you have their best interests at heart. Here are the most common REALTOR®-related myths, and how to respond when you encounter them.
Myth #1: REALTORS® are Rich
While the media would have you believe every REALTOR® in California lives like real estate agent / reality TV star Christine Quinn and drops $5,000 for dinner on a Tuesday, that’s not exactly the reality. In fact, many REALTORS® work other jobs or have side hustles, especially when they’re first starting out. Unlike many other professions, where your salary is based on how often and how well you work, REALTORS® are subject to variables outside their control. Housing supply, mortgage rates, the economy, and property laws can all impact an agent’s ability to sell, and therefore, impact their income. So, no, REALTORS® aren’t necessarily swimming in money; they’re hard-working professionals just like anyone else.
Myth #2: REALTORS® Just Open Doors
Being a REALTOR® means a lot more than just opening a door to a house. Those who really want the entire rundown should check out NAR’s list of 179 Ways Agents Who Are REALTORS® Are Worth Every Penny Of Their Compensation at www.ocrealtors.org/what-realtors-do. For the potential client who isn’t going to read a long list, inform them of the basics they may be genuinely unaware of. For example, the fact that REALTORS® need to know about zoning laws around a property, to ensure the view of the Pacific Ocean the client is paying for won’t soon turn into a brick wall. Or the fact that REALTORS® take courses on topics like negotiation, in order to best serve their clients. Perhaps a client is unaware that in order to maintain the REALTOR® title, one must adhere to a strict Code of Ethics. Your clients may be able to browse Zillow to find a nice house on their own, but then what?
Photos
Myth #3: REALTORS® Will Say Anything for a Sale
This is a stigma that haunts pretty much all sales-related professions. The truth is, if someone wanted to enter a job that would get them rich quick, they could do so much more efficiently in something other than real estate. As mentioned, REALTORS® adhere to a strict Code of Ethics, and the vast majority of people working in the industry respect the fact that they’re assisting clients in what may be the biggest purchase of their lives. Most REALTORS® are so appreciative of their clients’ trust that many will do what they can to assist clients in obtaining their dream home, often to the REALTOR®’s own financial detriment. And, according to the National Association of REALTORS®, 82% of REALTORS® donate to charity annually, compared to the national average of 56.6% of people. Surely, if real estate professionals were so focused on making money at any cost, they wouldn’t give back to the community at such a high rate.
While it’s true that REALTORS® make their own hours, that usually results in them working more collective hours than someone working 9-5. Most people buying or selling a home work full-time jobs, so REALTORS® have to work around their clients’ schedules. That means lots of early morning showings, late-night phone calls, and weekend meetings. According to the U.S. Bureau of Labor Statistics, most REALTORS® work full-time, and many put in more than 40 hours a week.
Myth #5: The Real Estate Industry is Like What I See on TV
While we can appreciate the entertainment value shows like Selling Sunset provide, they’re hardly realistic depictions of the real estate industry. These shows often focus on glamorous, high-stakes deals and personal drama to keep viewers hooked. In reality, the day-to-day work of a REALTOR® involves a lot more paperwork, market research, and client management, and a lot less drama and shenanigans. We can assure you that the typical REALTOR® is dedicated to serious, client-focused work. They spend countless hours behind the scenes: conducting property research, coordinating inspections, negotiating contracts, and ensuring every detail is perfect for their clients.
THAT STANDS OUT
PART 2
By
This is the second of a two-part series on brand voice, part one was published in the May/June 2024 issue of OC REALTOR ® Magazine.
Keeping
your brand’s
voice consistent across platforms
Now that you’re nailing down how you want your brand voice to sound and the tone you want your written content and media to convey, you can start infusing it into everything you’re drafting up. This is the first step to developing consistent messaging for your brand. The goal of a consistent brand voice isn’t to copy and paste across all channels and platforms. Instead, you should treat your brand voice like a common thread that brings all your messaging together.
This common thread is where your tone of brand voice comes into play. By nature, every channel and platform you use will have its own users who expect different tones of voice, regardless of the brand. For example, email is typically more formal, while a quick Story post on Facebook or Instagram can be casual. The download guide you create will have a different tone than the 30-second video you upload as a Reel.
Knowing your audience and where they will see and interact with your content is key to knowing how to use the right tone, in the right place, at the right time. An overly formal Facebook post might fall flat, while a buttoned-up email might turn your lead into a full-on client.
How to stay consistent with your brand voice
To ensure consistency, create your own brand voice guidelines, no matter what you’re creating or where it’s being shared. Start with the traits you noted in your inspiration-gathering earlier and align or adjust them to your mission statement as an agent. Create guidelines for how you want to speak to your audience, where, and the must-dos and must-avoids for each one.
Here’s an example table to get your wheels turning:
Mission statement: To empower young millennial first-time homebuyers in [zip code] to make the investment of a lifetime by guiding, supporting, and educating them.
Brand voice traits to ensure I use:
– Approachable
– Friendly
– Educational
Tone of voice by channel
Email:
Social media:
Things to avoid when conveying my brand voice:
– Being overly humorous
– Sounding too formal or unapproachable
– Being too rigid and authoritative
Blog:
– Informative
– Educational
– “I’m here for you”
– Informative
– Relatable and Interactive
– “DM me” or “leave a comment”
– Educational
– Knowledgeable
– Approachable
– “Email me to learn more/get in touch”
Photo
See how the brand voice traits show up in the tone of voice by channel? And how each channel’s tone of voice rolls back up to the original mission statement? Keep your audience and values in mind and give this table exercise a try. Having a reference sheet is worth its weight in gold when it comes to ensuring your brand voice is consistent everywhere, every time.
How do you make your voice stand out among other agents in your market?
Plan to start peeking at the competition as you’re locking in your brand voice and tones to use. Don’t be shy; a little competitive analysis never hurts! We’ve even created a free guide to help you do this, “5 Things your competitors can teach you about branding.” [www.realtor.com/marketing/ resources/5-things-your-competitors-canteach-you-about-real-estate-branding] It’s important to understand what your local market is currently working with and the crucial gaps you can fill with your own superpowers.
Start doing online recon and looking up agents in your market, including both fellow newbies and seasoned vets. Visit their social media profiles, websites, and blogs. Using the same inspiration-generating exercises as you did earlier, note down each agent’s brand voice characteristics and common threads, and note their tenure. This will help you put your own spin on your tone or even overhaul your brand voice altogether.
If your market is a sea of agents being traditional, buttoned-up, and authoritative, you have a great sweet spot to stand out. On the flip side, maybe every agent in your market is trying to out-quirk one another, and you realize taking it back to the old school ways with a more reserved approach can actually make you stand out more. Use your competitive findings to put the finishing touches on your brand voice and ensure it reflects your brand’s mission and values.
How will you sound?
You’re in top form to set out to find your brand voice and tailor it to your brand, and ensure it resonates with your mission and your target audience. As you give these exercises a spin, your brand voice will start to shine through. How do you think you’ll sound?
Illustrations by www.adobestock.com
By: Lea Vatenmakher COMMUNICATIONS SPECIALIST
OC REALTORS® had the opportunity to converse with Pacific Symphony conductor Carl St.Clair in honor of his 35th year as Music Director. Based in Costa Mesa, Pacific Symphony boasts the title of the largest-budgeted orchestra of the past 50 years, largely due to St.Clair’s contributions as the longest-tenured American-born conductor of a major American orchestra. Under St.Clair’s leadership, Pacific Symphony has become the League of American Orchestras newest and youngest orchestra within America’s Tier 1 Orchestras. Here, Carl St.Clair discusses his success and what’s next for the orchestra.
Photo by Pacific Symphony
Q: What drew you to a career in music, and to Pacific Symphony in particular?
A: Music is a “birthright” and belongs to all, anyone, and everyone. It, in all its alluring powers and beauty, found me as a young farm boy in a small town (36 residents) in South Texas. Anyone with an open heart and mind can revel in music’s realm and be rewarded, nurtured, and uplifted. At age 6, I wasn’t really thinking about a “career” in music. It was much more that I felt compelled to have it as a vital part of my life. It was a powerful moment when I decided to change my relationship with music and have it as my life’s pursuit and allow it to lead me on a lifelong journey. I was a sophomore in high school.
Q: How has living in Orange County inspired your work?
A: Yes, of course, the natural beauty of our beloved OC - the sky, the Pacific and landscape have all been inspirational in my work. I have never taken the power and beauty of our ocean view for granted and am blessed every day to see it in all its majestic glory. But it has been all the wonderful and dedicated people within the Pacific Symphony who have been most influential and inspiring. Their tireless dedication and overwhelming generosity have been and are a constant motivation to do more and to do - and be - better.
Q: What are your thoughts about the arts and culture scene in Orange County?
A: That the arts - not just music, but all the arts - play an important role in the life of OC and makes our beautiful County all the more desirable and rewarding.
The arts are continuing to flourish in our community. They are gaining respect and are nestling a place in the beautiful life we enjoy. We are literally walking hand-inhand with our community as we both mature. What a beautiful relationship!
Q: How are you preparing for the upcoming show?
A: Preparation for me is a very personal process. It is simply sitting at my study desk, hours upon hours, with a score—presently it’s Beethoven’s great Ninth Symphony and Morten Lauridsen’s Lux aeterna—and communing with the composers and their beautiful music. During these sessions, I am blessed because I am with some of the greatest musicians and musical spirits in the history of music. How fortunate am I! Sitting with a genius all day! What could be better?
Q: What’s the best piece of career advice you’ve ever received?
A: I am blessed to have had so many incredible mentors, teachers, and friends who have invested in me throughout my musical development and career. In their presence, I have received so much encouragement and so many pearls of wisdom. There is no one “best piece” of advice. That said, my motto is always the same: Work hard. Be honest. Be thankful. Be Humble.
Photos by Pacific Symphony
THE INVENTORY IS
The Orange County inventory has been on the rise and is starting to pick up steam, unlike last year when it continuously dropped through mid-April.
By Steven Thomas REPORTSONHOUSING.COM
Steven Thomas has a degree in quantitative economics and decision sciences from the University of California, San Diego, and more than twenty years of experience in real estate. His bimonthly Orange County Housing Report is available by subscription and provides housing market analysis that is easy to understand and useful in setting the expectations of both buyers and sellers. His website is www.ReportsOnHousing.com.
Californians have endured severe droughts, which have resulted in water restrictions, new laws, and policies aimed at curtailing the consumption of this valuable resource. Reservoirs reach record lows. Frustrated snow skiers watch the 10-day forecast, anxiously awaiting a hint of future snow. There are years when rainfall totals disappoint. But in years when it rains week after week, snow tops all surrounding mountains, and reservoirs rise, there is a sense of relief. It is a year when a drought has been abated.
Orange County has endured an inventory drought for several years now. Yet, finally, there is rain in the forecast, more homes are coming on the market, and the inventory is slowly rising. The drought of available homes to purchase has not ended, but at least it has been moving in the right direction. For buyers experiencing the drought firsthand, any rise in the number of homes to look at is a welcome relief.
Photo by
From the start of the year through May, the active inventory has risen from 1,785 to 2,620 homes, a rise of 47% or 835 homes. Mortgage rates bounced between 6.63% and 7.16%. Last year, the inventory dropped from 2,530 to 2,190 homes, down 340 homes or 13%, while mortgage rates fluctuated between 5.99% and 7.5%. It was 2022 when the inventory changed the most, rising from 1,100, a record low start, to 2,697, up 145% or 1,597 homes. That was when mortgage rates soared from 3.29% at the beginning of January to nearly 4.5% by mid-March. The low mortgage rate environment was quickly coming to an end.
For a proper perspective, it is best to look at the 3-year average before COVID (2017 to 2019) when housing was normal and mortgage rates were in the low to mid 4% range. Cyclically, the active inventory would slowly rise during the Winter Market, then pick up steam during the Spring Market, and slowly reach a peak sometime during the Summer Market. The 3-year average rose from 4,665 to 5,286, up 621 or 13%. The percent change looks misleading because it is smaller than this year and 2022, but that is because there were already a lot of homes on the market before COVID. This year and 2022 started from chronically low, anemic levels. As a result, the percent change exaggerates what is really occurring from a buyer’s perspective. 2,620 homes today is more than the 1,785 to start this year, but it does not feel significant for buyers waiting for more homes to come on the market.
Nonetheless, the rise in inventory is a welcome trend in a housing market starved for a fresh supply, especially in comparison to last year’s dwindling supply. The 2,620 homes available today are better than the 2,190 available last year, yet the total is still 59% lower than the 3-year average before COVID of 6,370 homes when the housing market was functioning at a much better pace.
{FIGURE-1}
The inventory has been rising partly due to the higher mortgage rate environment, as rates have eclipsed the 7% mark since April, and also because more homeowners are opting to sell their homes. When rates surpass the psychological 7% barrier, the inventory grows. That has been true both last year and this year. In addition, there have been 11,714 homeowners who placed their homes on the market from January through May. That is up 16% from last year’s record low, an extra 1,652 sellers. Yet, the 3-year average was 18,279 homes, 56% higher, or 6,565 additional FOR-SALE signs.
The inventory crisis has not been averted. The drought is far from over. But slowly, more homes are accumulating on the market. It is a trend to be aware of, especially for sellers. Even though the market is hot, and negotiations favor sellers, a growing inventory indicates some sellers are overzealous and lingering on the market, stretching their asking price too high. With higher rates, many buyers are not biting when pricing is out of bounds. That is precisely why 27% of the active inventory has adjusted their price lower at least once. With a climbing inventory, sellers must price appropriately to secure success.
2024 O C A R CARES TOURNAMENT
May 6th | Tijeras Creek Golf Club
2024 TOURNAMENT WINNERS
Longest Drive (Men) – Nick Watt
Longest Drive (Women) – Leah Albagli
Closest to the Pin (Men) – Chang Park
Closest to the Pin (Women) – Wajma Cisneros
1st Place (Team) Mixed – Lori Jones, Ray Martinez, Darren Etem, Craig Poturalski – 59
1st Place (Team) Men’s – Jim Holder, Tom Phelan, Lorenzo Bonina, Matthew Cain – 54
Helicopter Ball Drop – Bryn Hutchinson
Visit www.ocrealtors.org/golf24
Orange County REALTORS® is celebrating the members who have reached their 20th, 30th, 40th, and 50th anniversaries in 2024. Those celebrating their 50-year anniversary as OCR members have shared a bit about their careers.
304 Members
6 Members 41 Members 26 Members
Jim Brophy is celebrating his 50 th year as a Broker in South Orange County. Prior to his real estate career, Jim was a professor of Languages and feels that the key to his success has been clear and meaningful communication. Jim prides himself on listening to his clients' needs, fulfilling them, andas a result - has closed over 2,000 escrows.
Before he got involved in real estate, Joe Lovullo had a long and decorated military career. Following retirement, Joe decided to attend college and obtain a degree. He attended San Diego State University where he graduated on the Dean’s list with a degree specializing in finance and real estate. Seeking a location to open an office, Joe decided Dana Point offered tremendous real estate growth due to its location. He was successful in representing Pacific Mutual Insurance Company as their real estate sales broker of Lantern Bay Villas and Lantern Bay Estates. Additionally, his company sold Pacific Terrace and Harbor Walk subdivisions. Joe gained a nighttime real estate teaching position for 12 years at Saddleback Community College. Joe’s son, Michael, currently operates Lantern Bay Realty Inc. Joe and his wife of 64 years currently reside in San Clemente.
Jim Brophy
Joe Lovullo
Monica White emigrated from Northern Ireland to California. She got married and had three daughters, Jacquie, Maureen, and Michelle. She got her broker’s license in Real Estate and joined Tarbell Realtors. Then, she opened an office called International Real Estate and was quite successful. She is now the CEO of Irish Spring Realty.
Monica is very grateful for all the people who trusted her to buy or sell their homes. She loves all the people who worked for her and who she has encountered in the business. Monica has expressed gratitude to the people at the Board of Realtors who were always very helpful.
Rita Spira started real estate in 1969, selling vacant land parcels in the Temecula area.
In 1972, she decided residential real estate had more potential, so she joined Red Carpet and joined the board.
In 1980, Rita started to work on her own as Sailable Real Estate. One day, a client asked her to look at a stock co-op property in Huntington Beach. Rita got her first of many listings and sales at what is known as Huntington Pacific. Being a stock co-op in California was an unusual type of ownership for most buyers, and banks would not give her buyers a loan. So, Rita suggested they try to convert it to a condo.
Rita has been working that complex as her “farm” ever since. Her decision to sell residential real estate has made for a very rewarding experience.
In 1971, Florence Bell started her real estate career as a single mom with three girls to raise. She opened Medallion Realty office in 1976 in Huntington Beach and has trained many agents over the years.
She has always served on the Professional Standards committee and has served as an Ombudsman for C.A.R. in addition to several other committees. When the requirement to Mediate was included in her contract, Florence’s board sent her to Pepperdine for mediation training. She was Huntington Beach/Fountain Valley board president in 1989. In 1987, she was REALTOR® of the Year.
Florence says, “It has been a privilege to be part of our wonderful real estate community.”
During Gary Watts' first 6 months in this business, he had yet to sell one home. His first 3 listing presentations all ended with the sellers choosing Nell - the “Top Producer'' for all South Orange County. So, Gary decided to quit.
During what was supposed to be one of his last presentations, the seller told Gary the same thing the previous 3 sellers had said: "Thank you; we want to think it over.” With nothing to lose, Gary said: “I know you want to list your home with Nell.''
Gary got out the listings book and showed the sellers all of Nell’s listings. He told them that he had no listings, meaning he had no conflict with getting their home sold! They signed with him that night. Nell called Gary two days later to say she would sell the listing - and she did! He put the ‘SOLD’ banner up, showing the neighbors that the 23-year-old who was knocking on their doors could get their homes sold.
Looking back, Gary can't believe he almost walked away from the business.
