A CONVERSATION WITH PRESIDENT ADAM RODELL ON PAGE 8 LEADING THROUGH A PANDEMIC ON PAGE 16
NEW WAYS TO MAKE MONEY IN REAL ESTATE ON PAGE 28
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C.A.R. INSTALLS NEW LEADERSHIP TEAM ON PAGE 20
OC HOUSING MARKET IS RUNNING ON EMPTY ON PAGE 31 GOING FROM ROOKIE TO ROCKSTAR ON PAGE 35
Cleared for Takeoff The Lyon Air Museum was the site Orange County REALTORS® chose for the installation of its 2022 officers and directors. Pictured here (from left to right) are Treasurer Joyce Endo, President-elect Scott White, President Adam Rodell, and Past-President Lori Namazi. With this new flight crew in place, the Association is cleared for takeoff—and the Sky’s the Limit! on pages 24–27
CONTENTS NOVEMBER | DECEMBER 2021
The Sky’s the Limit! As 2019 came to a close, China informed the World Health Organization (WHO) about a suspicious cluster of pneumonia cases in Wuhan. One week later, a new type of coronavirus called COVID-19 was identified as the cause of this disease. Within less than three months, WHO was terming the situation a pandemic; and on March 16, 2020, the White House issued social-distancing guidelines. The Orange County REALTORS® Annual Meeting, scheduled to take place on March 23 at UCI, became a livestream event, which more than 1,200 members viewed. During the remainder of 2020, adults stayed home to work, and youngsters stayed home to learn. Classes, meetings, and conferences took place virtually. In 2021, with the availability of vaccines, life became a blend of virtual and in-person events. The Installation of Lori Namazi and the 2021 Board of Directors on December 2, 2020, was a virtual event. The Installation of Adam Rodell and the 2022 Board of Directors, held at the Lyon Air Museum in Santa Ana on December 1, 2021, marked the return to in-person gatherings. Now, with a new flight crew in place, the Association is cleared for takeoff—and the sky’s the limit!
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A Conversation with Adam Rodell
The 2022 President of OC REALTORS® hopes to strike a balance between virtual and in-person meetings, sees an immense value in the Leadership Academy, and wants to continue the work of the RAW Group.
STATE UPDATE
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Featuring the announcement of a first-ever honorary REALTOR® of the Year and photos of the REALTOR®, Affiliates, and Volunteer of the Year, and of recipients of the Leadership Legacy Award.
Michelle McCann describes lifestyle changes that are creating new opportunities for old places and spaces.
The Installation of Adam Rodell and the 2022 Board of Directors
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During 2022, President Otto Catrina, President-elect Jennifer Branchini, and Treasurer Heather Ozur are leading the way.
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FEATURES
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COVER STORY
PRESIDENT'S MESSAGE
C.A.R. Installs New Leadership Team
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Leading Through a Pandemic—and Beyond
Three Presidents of Orange County REALTORS® answer President-Elect Scott White’s questions about why they took on the Association’s top leadership role and some of the challenges they faced in doing so.
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New Ways to Use the Spaces You Have to Make the Money You want in 2022
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The Orange County Housing Update: Running on Empty
Steven Thomas says that the active inventory has been running on empty since the start of 2021, and that only fumes are left in Orange County’s housing market tank.
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From Rookie to Rockstar
Sabrina Blair reports on a Real Interview that Dan Smith (author of Failing Greatly: Your Guide to Achieving Success After Failure) conducted with three new REALTORS® who “crushed it” in 2021.
On the Cover: The Sky’s the Limit
DEPARTMENTS
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Video Specialist Jerry Mancuso took this picture of (from left to right) Orange County REALTORS® Treasurer Joyce Endo, President-Elect Scott White, President Adam Rodell, and Immediate Past-President Lori Namazi at the Lyon Air Museum, where the Installation of Adam Rodell and the 2022 Board of Directors was held as an in-person event on December 1, 2021.
Names in the News
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Education Central: Upcoming Classes by Track EVENTS
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Affiliate Appreciation Party–North
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Affiliate Appreciation Party–South
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Turkey Bowl—November 17, 2021
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Costume Bowl—October 29, 2021 Follow us on social media Online Magazine
ORANGE COUNTY
REALTOR® MAGAZINE
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25552 La Paz Road Laguna Hills, CA 92653
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Mission Statement
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2022 OFFICERS
Notice to All Members
Adam Rodell President Scott White President-Elect Joyce Endo Treasurer Lori Namazi Immediate Past President Dave Stefanides Chief Executive Officer
2022 BOARD OF DIRECTORS Erin Barry Matt Cortez Bob Fox Christina Fu Michele Harrington Len Herman Jeffrey Jackson Lori Jones Paul LePage Chip McAllister Steve Mino
Ed Molina Eileen Oldroyd Pamela Pedego Vinil Ramchandran Randy Rector Lacy Robertson Mary Rampone Lynne Suzanski Stuart Thomas Lisa Yi
MAGAZINE STAFF Sabrina Blair
Breanna Reed
Sherri Butterfield
Ivan Salmeron
Director of Communications sabrina@ocrealtors.org Communications Specialist sherri@ocrealtors.org
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Accounting Administrator breanna@ocrealtors.org Print & Marketing Specialist ivan@ocrealtors.org
JANUARY | FEBRUARY 2022
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.
OC REALTOR®
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 13, Issue 1, 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
PRESIDENT'S MESSAGE
A Conversation with Adam Rodell,
the 2022 President of Orange County REALTORS® Installed as President on December 1, Adam supports the Leadership Academy, wants to continue the beneficial work of the REALTOR® and Affiliate Wellness (RAW) Group, and plans to emphasize the ideas and ideals of Diversity, Equity, and Inclusion.
Adam Rodell became a licensed REALTOR® in 1998 and quickly showed himself to have a knack for real estate. In his first year, he was recipient of the Century 21 Beachside Best New Salesman Award. From 1999 through 2012, he received the Century 21 Centurion Producer Award. And from 2013 through 2021, he was a recipient of the RE/ MAX Platinum Producer Award. More recently, from 2018 through 2021, Adam received both the RE/MAX Select One Chairman’s Club Producer Award and the Hall of Fame Award. At Orange County REALTORS®, Adam has served on the Board of Directors and chaired several committees, including both the Local Government Relations North and the Political Affairs and Elections Committees. In 2014, Adam became a member of the OC REALTORS® Finance Committee and served the Association as its Treasurer in 2017 and 2018. In 2018, Adam sought a second term on the OC REALTORS® Board of Directors so that he could ask his colleagues on the Board to approve and support establishment of a new group he called the REALTOR® and Affiliate Wellness—or RAW— Group. The purpose of this group is to provide a safe place where members can candidly share their experiences as a way of providing help and fostering hope. For his efforts, Adam was honored by Orange County REALTORS® as its 2018 REALTOR® of the Year. Not long after Adam’s installation on December 1 as 2022 President of Orange County REALTORS®, he sat down with Sherri Butterfield to answer her questions. Excerpts from their conversation appear below.
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Photo by Marion Butterfield
By Sherri Butterfield WRITER AND EDITOR
California Association of REALTORS® 2021 President Dave Walsh (on the right) administers the oath of office to Orange County REALTORS® 2022 President Adam Rodell.
Where were you born? What was especially interesting, unusual, or memorable about your childhood? I was born in Austin, Texas, and later moved to Lincoln, Nebraska. My dad, who had gotten his doctorate in physical pharmacy at the University of Texas, was involved in the development of several national over-the-counter pharmaceuticals. His successful climb up the corporate ladder brought us to the Golden State.
With a father in physical pharmacy, what career path did you follow? Music and sales have long been a part of my life. I played violin in elementary school, took up the bass guitar in high school, and was part of the Hollywood music scene during the 1980s. But I’ve always had a passion and gift for sales. From door-to-door canvassing for leads in the home improvement industry to phone sales in the investment field, I learned the value of consistency and hard work at an early age.
How did you discover real estate? In 1996, I met my wife, Christine, who was working in real estate. Two years later, I earned my real state license and officially transitioned from the music industry to the real estate business.
Why do you like real estate and what do you find most satisfying about this field? The most satisfying part is that a home is the biggest-ticket item that most of us will ever purchase or sell in a lifetime. Clients must have complete trust to allow you to be part of this important transaction, and I love earning a client’s trust. The motto that Christine and I use expresses this idea very well: “Our Client’s Interests Come First… Always!” When clients truly believe our motto, we have earned their trust. Today’s technology may seem to have diminished the importance of the personal touch and opened the door for disruptors, but our role in the real estate transaction will always be essential provided we deliver a real service to our clients. In a way, it is like the doctor who delivers a newborn baby to the arms of its waiting parents. He or she becomes part of a sacred moment in their lives. And the same is true of bringing people to their home. The event is monumental and has a sacred quality about it.
In 2018, you sought a second term on the OC REALTORS® Board of Directors so that you could ask fellow Directors to approve and support establishment of a new group called the REALTOR® and Affiliate Wellness—or RAW—Group. Has this group accomplished the goal that you set for it? Yes, the RAW Group has accomplished—and is continuing to accomplish—the goal that I and others had set for it; and in many ways, it was ahead of its time. Traumatic things happen, even without a pandemic. Being hopeless is a bad place to be. The RAW Group is there to support the person who needs it at that moment in time. It is a place where members can talk about problems and share solutions as a way of showing those who are suffering that they are not alone, that there is light at the end of the tunnel, and that there is reason to hope. One exciting development regarding the RAW Group is that word about its value and success is getting around. Individual REALTORS® and representatives of other Associations are contacting me about helping them establish similar groups.
Photo by Marion Butterfield
PRESIDENT'S MESSAGE
Orange County REALTORS® 2022 President Adam Rodell proudly displays the gavel he has just received from Orange County REALTORS® 2021 President Lori Namazi.
During a recent panel discussion, you said that you live by a calendar and that one of the entries on your calendar is a standing “date night” on Saturday evenings with your wife and business partner, Christine. Why was calendaring a “date night” with Christine so important to you? I am truly a workaholic. Work is my sanctuary. I feel safe when I am working. I am uncomfortable when I am not working. This was the first time that I ever called “time out” for Christine and me. We simply don’t work on Saturday night.
On December 1, you were installed as the 2022 President of Orange County REALTORS®. What motivated you to accept this responsibility and what do you hope to accomplish during the New Year? What are your goals? My time as President is limited. I want to listen to and take advice from the membership. I am not trying to reinvent the wheel. I think Orange County REALTORS® is a beautiful organization that is very well run. We judge ourselves by our intentions while others judge us by our actions. I want to ensure that we continue to teach and support the ideas and ideals of Diversity, Equity, and Inclusion. I hope to find a balance between virtual and in-person meetings. I see immense value in the Leadership Academy and hope that I can be a part of helping our Board of Directors support its continuance. And, of course, I would like to continue the work of the RAW Group at Orange County REALTORS® and to help other Associations establish their own versions of it.
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NAMES IN THE NEWS
Roy Fussell, Jason L. Juarez, and Tony Faulkner
OC REALTORS® Celebrates Veterans Day It has become a tradition for Orange County REALTORS® to stage a flag-raising ceremony at the flagpole in front of the Laguna Hills office each year in November in honor of Veterans Day. Last year, because of the COVID-19 pandemic, the Third Annual Veterans Day Recognition Ceremony—which was held on November 5 with the help of OC REALTORS® members Tony Faulkner, Roy Fussell, and Fred Otto-Egeler—became a virtual event. This year, the Fourth Annual Veterans Day Recognition Ceremony once again was an in-person event. Taking part in the ceremony, which was held at the Laguna Hills office on Thursday, November 4, were (from left to right) Roy Fussell, Master Chief Petty Officer Jason L. Juarez, and Tony Faulkner. Their purpose was to pay tribute to those who answered our country’s call by serving in the U.S. Army, Navy, Air Force, Marine Corps, or Coast Guard, at home or abroad, either to win a war or to preserve the peace.
YPN Vice Chair Kyler Thomas and YPN Chair Ashley Skalsky
YPN Gathers 150 Blankets for Needy Youngsters Between October 18 and November 1, the Young Professionals Network (YPN) sponsored a drive during which members gathered 150 brand-new blankets for the Orangewood Foundation. YPN Vice Chair Kyler Thomas and YPN Chair Ashley Skalsky are pictured here with some of the blankets YPN collected. The Foundation will distribute these blankest to bring warmth and comfort to youngsters in foster and residential care. The Orangewood Foundation provides a variety of services— including housing, employment leads, and college scholarships—to help youngsters transition from residential care to independent adulthood.
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NAMES IN THE NEWS Eileen Oldroyd Graduates from NAR Leadership Academy
Shannon Buss, Eileen Oldroyd, and Gary Rogers
The 2021 NAR Leadership Academy Graduating Class. Eileen is on the front row.
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In November, Eileen Oldroyd graduated from the National Association of REALTORS® (NAR) Leadership Academy. She is pictured on the front row of her graduating class and on stage between Shannon Buss, chair of the Leadership Academy Advisory, and Gary Rogers, vice chair of the Leadership Academy Advisory. Eileen explains that each session of the NAR Leadership Academy begins in November and lasts one year and that participants graduate at the NAR Annual Conference and Expo in November. A class usually consists of between eighteen and twenty-four students. Academy participants attend an educational session each month during which they learn about one NAR department and its function from several knowledgeable speakers. In addition, participants are teamed with three or four Academy members to develop a capstone project that they present at their final meeting of the year. The purpose is to discover and fill a need at NAR. Eileen said that her group focused on the Center for REALTOR® Financial Wellness. Because group members wanted to drive more traffic to the site, they suggested that NAR create an endorsement not unlike the ones it previously created for C2EX and At Home with Diversity. Eileen did not set out to become a REALTOR®. In fact, she majored in criminal justice at Cal State Fullerton because she was fascinated by serial killers and wanted to do something in investigations, maybe with the FBI. But motivated in part by a bad home purchase experience during which the leak in a swimming pool was not disclosed, Eileen obtained her real estate license in 2004. Four years later, when NAR offered its Green Designation, Eileen earned it and soon built a reputation as “Green Eileen.” She received NAR’s EverGreen Award in recognition of her ongoing sustainability practices and was asked to chair NAR’s Sustainability Advisory Group. In 2020, Eileen served as President of the Women’s Council of REALTORS®, California. Eileen says, “Besides receiving premier training and learning about the inner workings of NAR, by far the most rewarding part of the NAR Leadership Academy program was being in class with exceptionally talented and dedicated leaders.” She adds, “I am grateful to Orange County REALTORS® for its support during my leadership journey. I would not be where I am today if it were not for Dave Stefanides and his extraordinary team.”
NAMES IN THE NEWS
Joe Muller, Matt Cortez, Supervisor Lisa Bartlett, Senator Dave Min [37th District], Mary Jane Cambria, Assemblyman Steven Choi [68th District], Lisa Yi, Lynne Suzanski, Ed Molina, Jeff Jackson, and Laurie Johnson
Lake Forest Chamber Hosts Legislative Luncheon A fall Legislative Luncheon sponsored by the Lake Forest Chamber of Commerce featured Supervisor Lisa Bartlett (5th District), Assemblyman Steven Choi (68th District), and Senator Dave Min (37th District) in a lively discussion about a variety of topics that included homelessness, housing, mental illness, infrastructure, traffic, and toll roads. Pictured atthe luncheon are (from left to right) Dana Point Mayor Pro Tem Joe Muller, Matt Cortez, Supervisor Bartlett, Senator Min, Mary Jane Cambria, Assemblyman Choi, Lisa Yi, Lynn Suzanski, Ed Molina, Jeff Jackson, and Laurie Johnson.
Noah Siguenza-Clements and Jessica Siguenza
Greater Irvine Chamber Honors Jessica Siguenza Among Its 40 Under 40 Forty outstanding Orange County next-generation professional were recognized during the Greater Irvine Chamber’s 40 Under 40 awards presentation on December 9 at the Marriott Irvine Spectrum for their demonstrated leadership and accomplishments advancing their industries and the Orange County community. Among those honored were OC REALTORS® Director Jessica Siguenza, business development executive for Finance of America Mortgage; Tara Campbell, chief of staff for Third District Supervisor Donald Wagner; and Jose Martinez, senior field representative for Orange County Assemblyman Steven Choi. In making the introductions, Bryan Starr, the Chamber’s president and CEO, said, “The Greater Irvine Chamber is honored to recognize forty of Orange County’s most accomplished young professionals, each a promise of continued innovation for our region. I congratulate them all for what they have achieved, the example they set, and I look forward to their future contributions.” In the photo, Jessica is being congratulated by her son Noah Siguenza-Clements.
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NAMES IN THE NEWS
Asian Pacific Islander Assembly Caucus Honors Shohei Ohtani OC REALTORS® President Adam Rodell (center) is pictured here with members of the Asian Pacific Islander Assembly Caucus: Phillip Chen (Assembly District 55), Ash Kalra (Assembly District 27), Evan Low (Assembly District 28), Janet Nguyen (Assembly District 72), Thurston “Smitty” Smith (Assembly District 33), Al Muratsuchi (Assembly District 66), and Vince Fong (Assembly District 34). On September 23, they gathered at Angels Stadium to honor Los Angeles Angels superstar pitcher Shohei Ohtani for his contributions to major league baseball and for serving as an incredible role model for kids. Little did they know at the time that Ohtani would strike out 156 batters in 130 1/2 innings, deliver 46 home runs, and be unanimously chosen as the American League’s Most Valuable Player!
OCBC Chooses Jeffrey Ball as President and CEO The Orange County Business Council (OCBC) has chosen Jeffrey Ball, founder, president, and CEO of Friendly Hills Bank in Whittier and former chair of the California Bankers Association, to become OCBC’s president and chief executive officer on January 1. Ball will succeed Lucy Dunn, who is retiring after sixteen years at the helm of OCBC. A resident of Huntington Beach, Ball co-founded a charter elementary school in that city and has served in various positions with schools in Whittier, Huntington Beach, and Irvine.
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Neal Kelley
Elections Officer Neal Kelley Will Retire in March Orange County Registrar of Voters Neal Kelley has announced that he will retire in March. Kelley, who previously had been a cop and an entrepreneur, was hired as Orange County’s deputy registrar in 2004. When he came on board, the department was in disarray. There had been complaints about such things as sample ballots being mailed late or containing errors, poor translation of foreign language ballots, and a special election that had been scheduled on a Jewish holiday. In short, there was plenty of room for improvement, and Kelley set about making the necessary changes. He treated the process of voting like a business transaction and allowed both politicians and the voting public to see how the process actually worked. And he kept politics out of that process. By doing so, he earned the respect of local legislators and voters and earned a national reputation as one of the best elections officials in the business. Kelley gave about four months’ notice of his retirement so that the County would have time to recruit a replacement and fill the position well ahead of the next election.
NAMES IN THE NEWS California Has 70 Percent of the Costliest ZIP Codes in the Nation A new study from PropertyShark found that California holds 89 of the 137 most expensive ZIP codes in the country, or roughly 70 percent. That’s up three percentage points from where the Golden State ranked last year. The study, which measured 2021 residential transactions that closed from January to October 22, also named Los Angeles County as the highest-priced county in the country, with 21 ZIP codes on the list. The Bay Area’s Santa Clara County ranked second with 15, and San Mateo ranked third with 10.
Graph Showing Median Home Price
Chapman University Presents Its 44th Annual Economic Forecast On December 14, James Doti, president emeritus and professor of economics at Chapman University, presented that university’s 44th Annual Economic Forecast during a conference that was held both in person and virtually. Dr. Doti said, “The housing market is as hot as you can get because of low mortgage rates. Housing appreciation will decline as mortgage rates increase. We believe that the federal funds rate will go up.” Doti said that the U.S. economy will be strong in 2022 with robust job and economic growth but that rising mortgage rates threaten to derail years of steady home price gains and that a recession is possible in a little over a year.
Moulton Niguel Ranks Second Among OC Workplaces In the Orange County Register’s annual list of Orange County’s Top Workplaces, the Moulton Niguel Water District ranks second among midsize companies, that is, those that have from 100 to 499 employees. Founded in 1960 with offices in Laguna Hills, Moulton Niguel is a utility that employs 177 people and delivers high-quality drinking water, recycled water, and wastewater services to more than 170,000 customers in Aliso Viejo, Dana Point, Laguna Hills, Laguna Niguel, Mission Viejo, and San Juan Capistrano. Joone Kim-Lopez serves the district as its general manager.
Names in the News is intended to be primarily a place where REALTOR® and Affiliate members of Orange County REALTORS® can share both personal and professional news—about births (of children or grandchildren), graduations, weddings, anniversaries, accomplishments, awards, and other milestones—with one another. If you have news to share, email it to Orange County REALTORS® Writer and Editor Sherri Butterfield at Sherri@ocrealtors.org. OC REALTOR®
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MASTERMIND PRESIDENTS PANEL
Three Presidents of Orange County REALTORS® tell why they took on the Association’s top leadership role and describe some of the challenges they have faced along the way. By Sherri Butterfield In late November, Orange County REALTORS® staged a program on Zoom in which 2022 President-elect Scott White moderated a panel discussion among 2020 President Danielle Corliss, 2021 President Lori Namazi, and 2022 President Adam Rodell about leadership. The conversation below was excerpted from that discussion.
Scott: What was your leadership journey and what made you decide to run for President of our organization? Danielle: Leadership has been part of my life journey. I love it! Lori: I have been in a variety of leadership positions throughout my career. I started in the Association by serving on committees and then ran for a position on the Board of Directors. Adam: I was elected fifth-grade class president during the first year I lived in California, and I think I had the longest hair in the class.
Scott: What would you say about volunteer leadership? Lori: If you have an interest in discovering what you can contribute, show up, get involved, and ask questions. Danielle: Figure out where your interests are and get involved. Be humble, ask questions, take that first step, and let someone know you are interested. Adam: My first step was serving on the Local Government Relations Committee. 16
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Scott: Everyone is a little reluctant at first. Who tapped you on the shoulder? Adam: Barbara Delgleize, Teri Miles, and Rita Tayenaka. When Rita tells you to do something, you just do it. Danielle: For me, it had to do with staff. I was invited by several staff members to get involved. Lori: First Team had a dedicated seat on the Board of Directors. I filled that seat and became a Director. Then, Vivian Vanderwerd encouraged me by saying, “The job was made for you. Go ahead and do it.”
“If you have an interest in discovering what you can contribute, show up, get involved, and ask questions.” —Lori Namazi Scott: When the pandemic hit, how did you manage the transition from an actual to a virtual environment? Danielle: The best example was our Annual Meeting, which had been planned as an in-person event at the end of March. Then, in mid-March, the pandemic hit and social distancing was announced. Ultimately, it was decided to hold the entire meeting virtually. To our amazement, 1,400 people signed up to attend!
Photo by Marion Butterfield
MASTERMIND PRESIDENTS PANEL
Orange County REALTORS 2022 President-elect Scott White (upper left) moderated a discussion among 2021 President Lori Namazi (upper right), 2020 President Danielle Corliss (lower left), and 2022 President Adam Rodell (lower right).
“Be humble, ask questions, take that first step, and let someone know you are interested.” —Danielle Corliss Scott: And it turned out to be a great growth year. How did your experience at the Leadership Academy prepare you for your role as President? Danielle: The Leadership Academy is a small group of people who have indicated an interest in learning about real estate and the Association. It is a really good way to learn who you are as a leader and to learn how Orange County REALTORS®, the California Association of REALTORS® (C.A.R.), and the National Association of REALTORS® (NAR) work. It’s a great program!
Scott: How do you spend your free time? Lori: Hanging out with my friends—taking a break from work. Danielle: It’s hard to take a break. I do not do that well. I love hanging out with my husband. I love cooking and trying new recipes. Adam: Free time? What a concept! Because my wife Christine and I are both in this business, work is where my comfort zone is. I try to get into the gym four or five times a week. Christine and I do have a date night once a week, on Saturday.
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MASTERMIND PRESIDENTS PANEL Scott: What did you do to prepare for your presidency? Adam: I did not run the first time I served as Treasurer because I did not feel I was quite ready. This time, I felt more ready. Lori: I talked with other Presidents to learn what the challenges are and what the members want, expect, and need. Danielle: I made a commitment to be as prepared as possible. I read a lot of leadership books, spent a lot of time with staff, and attended a lot of committee meetings. I spent a lot of time listening to other people and learning from them.
Scott: How does Orange County REALTORS® impact the real estate industry because of its size? Danielle: With talent, staff, and the ability to bring speakers and offer classes.
“The hand I was dealt (in 2021) was the opportunity to lead this organization back to normalcy.” —Lori Namazi
Scott: What were some of the advantages? Lori: We did not have to travel. We could reach a much broader audience. The year 2020 had been about pivoting from actual to virtual. The hand I was dealt (in 2021) was the opportunity to lead this organization back to normalcy. We had some lengthy but very productive conversations about how to go back out into the world. It was a very good year.
Lori: We have a wider range, we have experienced a variety of transactions, and we have worked with a variety of people. Adam: Our Association is very well respected. Having size gives us a number of seats on state and national boards.
“I spent a lot of time listening to other people and learning from them.” —Danielle Corliss
Scott: What were some of the biggest challenges you faced? Danielle: Everything was brand new. There were no precedents. The biggest challenge was communication. We lost the ability to observe body language, to get feedback fromthe audience.
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“I did not set goals. What I did have were expectations.” —Danielle Corliss Scott: What expectations did you have for your presidency? Lori: I had no specific expectations going in. It was my job to find out what people wanted. I believed it was what I should be doing and that the reason would reveal itself.
Scott: What lessons did you learn? Danielle: I think it all boils down to flexibility. We don’t need to do things in the same way we always have—and we may come out better for it.
MASTERMIND PRESIDENTS PANEL Scott: What were your short- and long-term goals?
Scott: What change did you make in your personal life?
Danielle: I did not set goals. What I did have were expectations.
Lori: I am good at setting boundaries. People know what to expect from me. But I had to make sure my business was covered (by my partner Lisa Dunn).
Lori: I wanted everyone to feel like they belonged. I wanted to help people feel more connected. It’s not about “goals”; it’s about continuous improvement.
Danielle: My dad always said, “You make time for the things you want to make time for.” Rubber balls bounce; glass balls shatter. When you are juggling, figure out which balls cannot be dropped because they will shatter.
Scott: Adam, what is your agenda? What are your goals?
Adam: I’m wired differently. I live off a calendar. I am not well suited to carving out time in the middle of the day.
Adam: I want to make sure that the Leadership Academy knows they have my full support. The REALTOR® and Affiliate Wellness (RAW) Group is completing its third year. I will be presenting this concept in Pasadena. I would like to ensure that we can continue to give this member benefit away for free.
Lori: I live off a calendar, too. For me, it’s less about time management and more about energy management. I need to work when I am at my best.
“The great experiment for 2022 will be how we find a balance, or blend, between virtual and actual.” —Adam Rodell
“My business is the beneficiary of my involvement.” —Adam Rodell
Scott: Has serving in leadership helped or hurt your business? Adam: My business is the beneficiary of my involvement.
Scott: Adam, what impact, if any, do you think the pandemic will have on your year as President? Adam: When we first went to Zoom membership meetings, my calendar, which was already full, got fuller. The great experiment for 2022 will be how we find a balance, or blend, between virtual and actual.
Danielle: It has helped me meet people I would not have met otherwise. Lori: It has been about the relationships. I have been the beneficiary and have been wonderfully rewarded both personally and professionally.
Scott: Our time is up. Thank you, panelists. We look forward to doing this again on a quarterly basis.
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STATE UPDATE
California Association of REALTORS®
INSTALLS NEW LEADERSHIP TEAM In 2022, Otto Catrina, Jennifer Branchini, and Heather Ozur are leading the way.
The California Association of REALTORS® has installed its 2022 Leadership Team. Heading the team is C.A.R. President Otto Catrina, who has been a full-time Bay Area real estate broker/REALTOR® since 2002. Serving with Catrina are President-elect Jennifer Branchini and Treasurer Heather Ozur. These C.A.R. 2022 officers officially began their term at the close of the National Association of REALTORS® (NAR) Conference and Expo held in San Diego in mid-November.
Catrina was a Director for the Bay East Association of REALTORS®, has served on various Association committees, including Strategic Planning, Marketing, Professional Standards, and Local Government Relations, and was President of that Association in 2011. He was named REALTOR® of the Year in 2007 and received the John A. Deadrich Distinguished Service Award in 2009 and the Outstanding Leadership Award in 2019. Catrina is a member of NAR’s Presidents Circle and was inducted into NAR’s Hall of Fame in 2016.
Otto Catrina
C.A.R. President Otto Catrina Otto Catrina is C.A.R. 2022 president. Catrina is active with the local, state, and national Associations of REALTORS®. He has been a Director for the California Association of REALTORS®, where he served as C.A.R.’s Federal Chairman and as Chairman for C.A.R.’s Legislative Committee. He has also served as Public Policy Liaison to C.A.R. Leadership, overseeing federal and state legislation. Catrina has served in various leadership positions at the National Association of REALTORS®, including NAR Director and member of both the Issues Mobilization Committee and the REALTOR® Party Member Involvement Committee. During 2022–2023, he will serve on NAR’s Executive Committee. 20
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Active at the federal legislative level, Catrina is a Federal Political Coordinator for California Congressman Eric Swalwell (15th Congressional District) and a Key Contact for California Assemblymember Bill Quirk (20th Assembly District). He also serves on the Board of Directors of the Alameda County Chapter of the 100 Club, which provides financial assistance to families of first responders who pass away in the line of duty, and is a financial supporter of the Goodness Village, a community of twenty-eight tiny homes built and managed by Crosswinds Church to provide transitional housing for homeless individuals in Livermore.
STATE UPDATE
Jennifer Branchini
Heather Ozur
C.A.R. President-elect Jennifer Branchini
C.A.R. Treasurer Heather Ozur
San Francisco Bay Area REALTOR® Jennifer Branchini is C.A.R. 2022 president-elect. Branchini has been a REALTOR® since 1998, having worked in management at her family’s brokerage for many years. As an agent and associate sales manager with Compass Real Estate in Pleasanton, she is also an active REALTOR ®, helping her clients achieve their homeownership dreams.
Palm Springs REALTOR® Heather Ozur serves as C.A.R. Treasurer. Ozur has been a REALTOR® for more than twenty years, specializing in residential property with Keller Williams in Palm Springs.
During her career, Branchini has held numerous leadership positions. At the state level, she has been a C.A.R. Director since 2010 and has served on numerous committees. Most recently, she was C.A.R. Treasurer in 2020–2021 and was responsible for leading the Strategic Planning Committee, identifying critical issues of importance to REALTORS® based on the driving forces affecting the evolution of the real estate market and the brokerage industry. Nationally, Branchini has been a NAR Director since 2014. Most recently, she served as Member Services Liaison Chair of the Meetings and Conference Committee. At the local level, Branchini was the 2014 President of the Bay East Association of REALTORS®. She was instrumental in establishing the Bay East Young Professionals Network (YPN) and led the California Association of REALTORS® YPN forum. Jennifer Branchini was named REALTOR® of the Year in 2010 and was recognized as the Bay East Outstanding Leader in 2017.
Ozur has been an active voice in the REALTOR® community since 2003. At the state level, Ozur has been a California Association of REALTORS® Director since 2008 and has served on various committees, including Strategic Planning and Finance, Professional Standards, Transaction and Regulatory, Federal, Legislative, and Business Technology Forum. At the national level, Ozur serves as a Director with the National Association of REALTORS®. She has chaired the Strategic Thinking Advisory Committee and been a member of the Finance Committee and a REALTOR® Party Action Committee (RPAC) Major Investor Representative for Region 13. She is a graduate of the NAR Leadership Academy and was named to the RPAC Golden R Presidents Circle Hall of Fame. At the local level, Ozur served as President of the California Desert Association of REALTORS® (CDAR) in 2010 and 2011, and as Secretary of Palm Springs Regional Association of REALTORS® (PSRAR) from 2015 through 2018. In 2013, Heather was named CDAR’s REALTOR® of the Year. Also active, with the Women’s Council of REALTORS®, Ozur served as its National President in 2019. Previously, she was the 2005 Local Network President for Greater Palm Springs and the 2014 President for Women’s Council of REALTORS® California.
A Word About C.A.R. Chief Executive Officer Joel Singer As was announced in 2021, C.A.R. Chief Executive Officer Joel Singer retired at the end of the year, following 43 years of service with the Association. Leading the way® in California real estate for more than 110 years, the California Association of REALTORS® (www.car.org) is one of the largest state trade organizations in the United States and has more than 200,000 members dedicated to the advancement of professionalism in real estate. It is headquartered in Los Angeles. This column is based on and has been excerpted from a California Association of REALTORS® press release that was distributed via email on November 15, 2021. OC REALTOR®
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THE SKY'S THE LIMIT
With a new flight crew in place, Orange County REALTORS® is cleared for takeoff—and the sky’s the limit in 2022! By Sherri Butterfield WRITER AND EDITOR
Stuart declared that 2020 had been a year of “pivots” and “firsts” during which REALTORS® adjusted admirably to virtual ways of showing and selling real estate. On the other hand, he said,the year 2021 could be described as one of “adjust and accept.” Returning to in-person showings, REALTORS® faced a super-heated market in which there were too few available homes for too many eager buyers, selling prices rose with successive bids, and rival bidders had to be cautioned to avoid battling one another to the death on the new carpet. Staff Sergeant U.S. Marine Corps (retired) and REALTOR® Tony Faulkner led the audience in reciting the Pledge of Allegiance.
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Stuart Thomas
Barbara Delgleize
Photos by Marion Butterfield
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his year, the Orange County REALTORS® Installation, which was held via Zoom last year, once again became an in-person event, and the site chosen for it was the Lyon Air Museum in Santa Ana. REALTOR® and Affiliate members of the Association and their guests gathered amid General William Lyon’s collection of military aircraft to celebrate the installation of President Adam Rodell and the 2022 Board of Directors. Serving as master of ceremonies for the evening was Stuart Thomas, and providing keyboard accompaniment was Adam’s brother, Andrew Rodell.
Huntington Beach Mayor Pro Tem and 2005 President of Orange County REALTORS® Barbara Delgleize provided an inspirational message in which she described gratitude as “a state of being that comes from a place of love.” Carefully distinguishing between being superficially thankful and being more deeply grateful, Barbara said that “gratitude is an integral part of one’s ability to live through love” and encouraged audience members to ask themselves “not what you’re thankful for, but what you’re grateful for, what you love about your life.” After thanking Barbara for her message, Stuart reminded audience members that she had been a recipient of the OC REALTORS® Leadership Legacy Award in 2018.
Lisa Dunn, Danielle Corliss, and Lori Namazi
Kerri Finch, Affiliate North; Joe Pierce, Affiliate South; Adam Rodell, Bylaws; Danielle Corliss, Credentials; Mary Jane Cambria, Education; Joyce Endo, Finance; Yami Martinez, Global Business Alliance; Simone Dadseten, Green; Donna Jean Santa Maria, Grievance; Scott White, Leadership and Personal Development; Matt Cortez, Local Government Relations North; Lisa Yi, Local Government Relations South; Richard Moore, Multiple Listing Service; Tony Faulkner, Political Affairs and Elections; Bryan Zuetel, Professional Standards; Lisa Dunn, Risk Management; and Ashley Skalsky, Young Professionals Network (YPN). Acknowledging that they are not officially part of a committee but that they perform a task that is essential to the success of Orange County REALTORS®, Lori recognized the Marketing Meeting Facilitators Lori Jones and Bryan Ayn. Lori presented President’s Awards to Lisa Dunn and Jeff Jackson. In doing so, she said, “To be successful, it is important to have others alongside you” and mentioned specifically the challenges of reopening after the pandemic quarantine, updating the Strategic Plan, and strengthening the organizational structure.
While introducing OC REALTORS® 2021 President Lori Namazi, Stuart mentioned that she was a true “SoCal girl” who had lived within a one-hour drive of West Covina her entire life. He told of her management training at McDonald’s worldfamous Hamburger University, of the wisdom she had gained while breaking the glass ceiling as the first female Broker of Record for First Team Real Estate, and of the success she enjoys today while running two companies—a boutique brokerage and a brokerage consulting firm. Stuart concluded his remarks by terming Lori “a leader who knows the way, goes the way, and shows the way.” Lori acknowledged that 2021 had been a year of challenges, but declared, “There wasn’t a time when our committee chairs and committee members did not shine. You tried new ways of doing things, you challenged the status quo, and you succeeded. I wish that I could thank you personally with a big hug, but reading your names will have to do for now”:
Lori announced that the Executive Committee had selected not one, but two Committees of the Year, Credentials (chaired by Danielle Corliss) and Risk Management (chaired by Lisa Dunn). While presenting awards to their chairs, Lori said: “Danielle, you and your committee colleagues enjoyed a breakout year, taking on brand-new responsibilities for Association elections, travel policy, travel scholarships, and the selection of Orange County REALTORS® State and National Directors; and Lisa, your committee went into high-performance mode—hosting forums with expert panels in collaboration with other committees and even other local Associations— on such timely matters as broker supervision, tenant/landlord law, fire insurance, new forms, cybercrime, COVID-related complaints, and, of course, improvements to your own Local Area Disclosure! Thank you both for your contributions—and thank you also to staff members, Debby Ritter for Credentials and Tiffany Wood with Risk Management.
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Photos by Marion Butterfield
Adam and Christine Rodell
Photo by Jerry Mancuso
THE SKY'S THE LIMIT
THE SKY'S THE LIMIT
Lori continued, “As this year comes to a close, one of the most wonderful privileges I have is to be able to honor someone with the President’s Award. This award goes to the person whom the President believes has offered an abundance of meaningful support, encouragement, and inspiration throughout the year. As I assumed office, I had no specific expectations. Our challenges were to reopen, to update the Strategic Plan, and to strengthen our organizational structure. I’d like to give this award to two people who helped me immeasurably this year: Jeff Jackson and Lisa Dunn. Stuart Thomas introduced the Installing Officer, Dave Walsh. In doing so, he mentioned that Dave is President of the California Association of REALTORS® and attributed his leadership talent to more than forty years of residential real estate sales, management, and training experience, which began in 1980, when he was a sales associate. Stuart added, “Dave has a history of being at the forefront of real estate trends, its policies, and professional trade groups, which led to his being named 2021 REALTOR® of the Year for the State of California.” Dave Walsh said, “It is my assignment this evening to install the 2022 Board of Directors. A Director should be someone who is a good collaborator, is willing to listen more than they speak, is flexible, practices servant leadership, and understands that respect is a commodity that must be earned—not given.”
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Adam Rodell and Dave Walsh
Adam Rodell and Lori Namazi
Photos by Marion Butterfield
Lori said, “Navigating through a series of difficult decisions, our Directors did a magnificent job this year. I truly appreciate their guidance, advice, and cooperation. Twelve of our Directors are retiring. As I call their names, I would like for them to stand in place at their tables so that we can recognize them collectively with a round of applause. Our retiring directors are Mary Jane Cambria, Danielle Corliss, Sandra Deering, Dorinda Francois, Julie Hile, Joyce Leonard, Liz Lewis, Yami Martinez, Charleen NagataNewhouse, Joe Pierce, Lisa Schulz, and Jessica Siguenza. Thank you for your service.”
Dave asked the following members of the 2022 Board of Directors to stand and raise their right hands while he administered the oath of office to them: Presidentelect Scott White, Treasurer Joyce Endo, Immediate Past-President Lori Namazi, Erin Barry, Matt Cortez, Bob Fox , Christina Fu, Michele Harrington, Len Herman, Lori Jones, Jeff Jackson, Paul LePage, Chip McAllister, Steve Mino, Ed Molina, Eileen Oldroyd, Pam Pedego, Vinil Ramchandran, Randy Rector, Lacy Robertson, Mary Rampone, Lynne Suzanski, Stuart Thomas, and Lisa Yi. After administering the oath of office to Adam Rodell, Dave proclaimed him to have been duly installed as the 2022 President of Orange County REALTORS® and gave him the Commemorative President’s Pin. Lori thanked Dave Walsh and said to Adam, “The passing of the gavel carries with it the duties and responsibility of the office to which you have been elected. I congratulate you and wish you well.”
THE SKY'S THE LIMIT Anita Glasser, Stuart Thomas, and Heidi Stoops
Nigel Etem and Bryan Ahn
Christy Alesi and Joyce Endo
Photos by Marion Butterfield
Pam Pedego, Gary Thomas, and Lori Namazi
Orange County REALTORS® 2022 Board of Directors
Photo by Jerry Mancuso
Photo by Marion Butterfield
Chebel Mina and Amy Nieto
Adam thanked Lori for her leadership this past year and acknowledged his wife Christine (whom he said had taught him “to be honest in all dealings”), his oldest son Josh, his daughter Alexa (who is pregnant with a grandson due in March), and his brothers Stewart, Andrew, and John. And he thanked staff, whom, he said, had given him the confidence to take on the challenge of being President. Lori announced the recipients of the prestigious Leadership Legacy Award: Pam Pedego and Gary Thomas. To Gary, Pam said, “I got my license in 1978, so I am the younger of the two of us. You saved my life when I was the sole support of two children.” Gary mentioned that his grandson is his family’s fourth generation in real estate. Next, 2020 Affiliate of the Year North Nigel Etem (Nigel Etem Media) announced that Bryan Ahn (MUFG Union Bank) was the 2021 Affiliate of the Year North, and 2020 Affiliate of the Year South Chebel Mina (Broadview Home Loans) announced that Amy Nieto (MyNHD) was the 2021 Affiliate of the Year South.
Then, 2020 Volunteer of the Year Stuart Thomas (RE/MAX Select One in Huntington Beach) announced that there were two Volunteers of the Year in 2021, Anita Glasser and Heidi Stoops. Joyce Endo, who was 2020 REALTOR® of the Year, said that there were two honorees this year. She called to the stage Christy Alesi and explained that Christy’s husband, REALTOR® John Alesi, who passed away of COVID-related complications, was “a REALTOR® Rockstar who turned clients into friends and whose band Five Star South is well known,” was being honored posthumously as the first-ever Honorary REALTOR® of the Year. And finally, Joyce revealed that 2020 Orange County REALTORS® President Danielle Corliss had been chosen as the 2021 REALTOR® of the Year. With service deeply appreciated, achievement duly recognized, and a new flight crew in place, Orange County REALTORS® is cleared for takeoff—and the sky’s the limit in 2022!
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THE SKY'S THE LIMIT
New Ways to Use the Spaces You Have to Make the Money You Want in 2022 Lifestyle changes are creating new demand and new opportunities for old places and spaces. By Michelle McCann Marketing and Programs Manager
R
eal estate professionals have always lived with uncertainty and change. While adapting to new approaches and markets, they have found creative ways to thrive. As we enter 2022, we focus on flexibility and resilience while we examine new trends and profit opportunities. Not only is there a broad variety of niche real estate sectors for investment today but also, on a smaller scale, there are alternative revenue streams in residential real estate. Thus, for real estate, the sky’s the limit in 2022!
“If the future of food lies in delivery, then it makes sense to take advantage of this trend and capitalize on creatively repurposing spaces to prepare and package food.”
Niche Sectors to Consider Ghost Kitchens During the past few years, the demand for food delivery has exploded. It follows that the demand for ghost kitchens is also increasing. Ghost kitchens are specially equipped facilities designed to produce and distribute food to delivery drivers more efficiently than traditional restaurants. As brick-and-mortar restaurants are being reshaped, delivery-only futures are being considered, creating a new sector for real estate investors. Ghost kitchens can pop up anywhere and repurpose any space. They do not come with high operating costs, and they do not need to be in highrent, premium locations. If the future of food lies in delivery, then it makes sense to take advantage of this trend and capitalize on creatively repurposing spaces to prepare and package food. 28
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“The need for self-storage spaces has exploded, and self-storage is definitely on the list of real estate sectors to consider in 2022.”
THE SKY'S THE LIMIT Self-Storage A strong housing market and the potential to live and work anywhere have spurred families to move, thus increasing the demand for self-storage facilities. Remote workers have had to repurpose guest rooms, dining rooms, and closets into in-home offices and need a place to store the belongings they can no longer fit into these altered spaces. Many college students, young adults in the service industry, and remote workers have had to move back in with their parents to ride out the COVID pandemic and have needed storage options. In short, the need for self-storage spaces has exploded, and self-storage is definitely on the list of real estate sectors to consider in 2022.
Life Sciences and Healthcare With an uptick in the demand for space to accommodate vaccine production and research, new healthcare technologies, and COVID testing sites, life sciences and healthcare are going through their own transformation. The old-school hospital property is giving way to off-site locations on retail property, inside shopping centers, and at malls. Small suburban locations for medical care have become increasingly popular as more people continue to work from home and want convenient access to doctors and nurses for quick diagnoses and treatments. Smaller facilities are also perceived to offer a lower risk of infection than large multi-floored office buildings and hospital spaces that rely heavily on elevators for access. In addition, lab spaces are being sought for production of new medicines and vaccines. The life sciences and healthcare sectors are strong and deserve a place on the list of 2022 real estate investment opportunities.
Alternative Revenue in Residential Homes “Assets in residential homes are one of the most underutilized resources.”
As people look for more ways to make additional income, sharing private spaces for a price is a trend that is gaining attention in 2022. Assets in residential homes are one of the most underutilized resources. Have an amazing pool? A private garden with ambience? An empty garage? With a little creativity, any unused space on residential property can become income producing. The possibilities are almost endless, and online services enable you to advertise and rent your spaces safely and easily:
Rent your garage: https://www.neighbor.com/host/rent-my-garage Rent your house for parties/photo shoots: https://www.peerspace.com/host Rent your pool: https://swimply.com/ Rent your yard for dogs: https://www.sniffspot.com/host
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THE ORANGE COUNTY HOUSING UPDATE
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For years, there have not been enough homes on the market, but the trend has only grown worse with COVID and the historically low interest rate environment. 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.
When we climb into the family car to run errands, there are times when we notice that the fuel gauge light is on, a reminder that gas is needed as soon as possible. At this point, some people decide to wait and save a few minutes while they complete the job at hand. Watching the “miles remaining” dwindle on the instrument panel can be unnerving. When it reaches zero, panic sets in and pushing it any further becomes a gamble. Finally, after waiting until there are merely drops left in the tank, the car rolls into a gas station, running on empty. The active inventory has been running on empty since the start of 2021. Only fumes are left in Orange County’s housing market tank. The inventory hit an all-time low last June at 2,214 homes available to purchase. After peaking for the year at the end of July with only 2,537 homes on the market, it then dropped below the record low by the end of September and has continued falling ever since. By the start of December, it had shed 1,115 homes since its peak, down an astonishing 44 percent. During the last two weeks
of November, the inventory plunged by 19 percent, or 336 fewer For Sale signs, the largest drop of the year, leaving 1,422 homes available to purchase and signaling the start of the Holiday Market, when both supply and demand sink to their lowest point by New Year’s Day (see Figure 1). It is challenging to articulate just how dire the current inventory levels are today. In looking at supply and demand, when there is a very limited supply that is matched with strong and insatiable demand, the supply issue not only persists, but also can become even more severe. That is precisely what has occurred in 2021. Inventory dropped to an unprecedented point.
“The active inventory has been running on empty since the start of 2021. Only fumes are left in Orange County’s housing market tank.” OC REALTOR®
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THE ORANGE COUNTY HOUSING UPDATE
“Today’s inventory level really is a catastrophe because, given current trends, it appears as if there is no change in sight.”
Figure 1. Orange County Active Listing Inventory, Year Over Year. From 2017 to 2019, the inventory averaged 5,851 homes. In 2020, it averaged 4,188, and in 2021 it averaged 2,190 homes. During the last two weeks of November, the inventory plunged by 19 percent, the largest drop of the year, leaving only 1,422 homes available to purchase.
Figure 2. Number of Homes Placed on the Market (January through October). During the three years before COVID, 2017 through 2019, fewer homes were placed on the market than in previous years. After the pandemic hit in 2020, fewer homeowners opted to sell, which further reduced this number. In 2020 through October, there were 2,545 missing For Sale signs compared to the three-year average. In 2021, through October, there were 2,245 missing signs. 32
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Before COVID, from 2017 to 2019, the inventory averaged 5,851 homes. In 2020, it averaged 4,188, 28 percent less, and in 2021 at 2,190 homes, 63 percent less. That is correct, it averaged less than 2,200 homes. The end of November 2020 reading of 3,469 was the lowest level by far since tracking began seventeen years ago. Yet, November 2021’s 1,457 inventory was 58 percent lower, less than half. The three-year average before COVID for the end of November was 5,359, a jawdropping 238 percent more, an additional 3,902 available homes, more than triple. That is a big difference and indicates exactly how starved the housing market is for inventory right now. Today’s inventory level really is a catastrophe because, given current trends, it appears as if there is no change in sight. A couple of factors have exacerbated this predicament. During the three years before COVID, 2017 through 2019, fewer homes were placed on the market compared to prior years. Building an inventory was already challenging before the pandemic. When the pandemic hit, fewer homeowners opted to sell. In 2020 through October, there were 2,545 missing For Sale signs compared to that three-year average, 7 percent less. In 2021, through October, there were 2,245 missing signs, 6 percent less. While that may not seem like many for a year, at this point every single missing For Sale sign further intensifies the inventory plight (see Figure 2).
THE ORANGE COUNTY HOUSING UPDATE
Another contributing factor is that demand has been extremely strong because of today’s historically low interest rates. According to Freddie Mac’s Primary Mortgage Market Survey®, the 3.11 percent rate at the beginning of December may be higher than mid-August’s 2.77 percent, or the first week of January’s 2.65 percent, but it would still be a record low in comparison to any time before COVID. For perspective, in 2019, mortgage rates averaged 3.94 percent. Low rates instigated the fire sale atmosphere in both 2020 and 2021. Further contributing to demand is the fact that more potential buyers than ever before are reaching the prime first-time buying age of 32 years, millennials. It started last year, is even stronger this year, and it will continue for the next several years. It is the strongest first-time home buyer demographic patch on record, and it is occurring right now. Millennials are doing what humans do. They are leaving the family home or the multiple roommate situation, getting married, and having babies. Millennials want a piece of the proverbial “American Dream” just like every generation before them and are adding pressure to the demand side of the housing equation.
“Further contributing to demand is the fact that more potential buyers than ever before are reaching the prime first-time buying age of 32 years, millennials.”
“The Orange County housing market, which has been at an insane level since August 2020, has only grown stronger as the year has wound down.”
Merge extremely strong demand with an anemic supply of available homes to purchase, a record low, and housing will continue to soar in 2022. The Expected Market Time (the time between coming on the market and opening escrow) dropped to 20 days by the end of November, its lowest on record, an insanely Hot Seller’s Market. Anything below 60 days is considered a Hot Seller’s Market. When it drops below 40 days, it has reached the level of an insane market. At 20 days, housing is nearly indescribable. It is where every home is greeted with a ton of showings, sellers get to call all the shots during the negotiating process, multiple offers are the norm, and home values are rising rapidly.
The Bottom Line: The supply of available homes to purchase is at an all-time low. The inventory gauge is pointing to “empty,” and it does not look like there will be much relief anytime soon. The Orange County housing market, which has been at an insane level since August 2020, has only grown stronger as the year has wound down. Do not expect anything less than insane for quite some time.
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REAL INTERVIEW
An Interview with Three New REALTORS® Who Crushed It in 2021 By Sabrina Blair Director of Communications and Programs
Dan Smith
How long have you've been in the real estate business, where are you currently selling real estate, and what did you do before real estate? Ruth: I work with Regency Real Estate Brokers, and it’s been almost three years since I got my license at the end of November, which was a great time because then I just did a lot of studying and kind of kicked off the new year. Previously, I worked in corporate marketing and market research. I think that helped me a lot with contracts and the technology aspect of real estate. Ryan: I’m a REALTOR® with the Immel Team with Pacific Sotheby's International Realty based in Dana Point. I've been licensed for about six and a half years now and have been full-time for almost four years. I got my license right after high school, went to college, and pretty much went straight into real estate after school. Stephen: I’m with Anvil Real Estate. I was in the supplychain industry before I became a REALTOR®, and I got my license in May 2021.
Photo by Marion Butterfield
On November 10, 2021, Dan Smith had as guests on his Real Interview series REALTORS® Ryan Immel with Pacific Sotheby's International Realty, Ruth Bruno with Regency Real Estate Brokers, and Stephen Mazurek with Anvil Real Estate. Although all three are relatively new to the business, they are crushing it. Learn what ideas work for them and how you can apply these ideas in your own business.
What kind of production have you had this year? Ruth: I have had 38 transactions for this year, but I have a few more listings coming and a few more buyers. Ryan: So far in 2021, we’ve sold 18 homes for a volume of $100 million as a team. Stephen: For closed and pending, I’m at 5 deals and a little over $7 million.
What is your number one source for new listing leads? Ruth: My sphere of influence. I’ve been a connector my entire life. My kids have been in multiple sports, so I have a great base of people, and that's key for all new agents. Get your database up and really market to them. Ryan: It's mostly referrals that come from my sphere of influence, being involved in the community, and farming. It all comes together to create more referrals. Stephen: It’s all sphere of influence. OC REALTOR®
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REAL INTERVIEW
Photo by Marion Butterfield
Ruth Bruno
How many hours a week are you typically working? Ryan: For this year, I'd say fifty, sometimes sixty, hours and then it slows down for a little bit. When we're really getting after it, it seems like it's nonstop.
Do you farm and if so, how do you farm? Ruth: I usually farm once a month and then I do mailers. Usually, I drop the mailer myself; but once in a while, I have a college girl who helps with the drop in my little community. I do three smaller areas because, at first, the area I targeted was too big. Ryan: Yes, we do mailers. If it's a new farm that we're just starting, we will bombard it with a mailer once every other week or something like that. Then maybe go door knocking. You need to become familiar with the neighborhood, be involved with the community, and then after two months you can go back to once a month. You need to change it up and do market updates or whatever it is that will grab people's attention or tell them what they're interested in knowing.
Stephen: Easily fifty hour a week.
What does your normal day look like? Ryan: I'd say we begin with the team meeting to catch up every morning, and then we start following up with clients. I'll probably work on some marketing materials. If we have a listing appointment that day, we go on it or prep for it the day before. Then, when we have listings, we go and show them. Ruth: I'll check my calendar the night before to see what's going on for the next day to prepare. I follow up with all my clients, I check with my transaction coordinator to see where I'm at with my escrows and make sure everything is getting done at the right time. I am always preparing for the next listing appointment or buyer's journey appointment. Stephen: I usually have meetings in the morning on Tuesdays and Thursdays. If not, I’ll go straight into follow up. I will check in with clients, and then I’m usually out and about at appointments in the afternoon. Otherwise, I’m working on trying to create marketing.
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What type of marketing do you do? Ruth: I use social media and paid advertising on Facebook and Instagram. I do mailers to my database almost monthly or sometimes a little bit longer. I like to tell people about activities going on in the area so it's not always real estate–related resources. At the beginning of the year, I let them know I’m their resource if they need a handyman, electrician, hairdresser, babysitter, or anything else. Ryan: We’re very heavy on social media since it's relatively cheap compared to some other methods and you can get in front of so many eyes. We do a lot of videos like lifestyle videos, things to do to sell Dana Point and the areas around it.
Ryan Immel Photo by Marion Butterfield
Ruth: I don’t even keep track. I’m burning the midnight oil. I definitely need to work on balance; but when it comes, it comes, and you’ve got to take it.
REAL INTERVIEW
Ryan: When the pandemic hit and everything came to a halt, we needed to figure out how to start generating new sales and how to get in front of people in this noisy world. So we set up a little green screen studio in our house, and we started doing videos—informational, educational, entertaining, or whatever is really applicable. It really stuck with our followers and led to a $3.1 million listing that turned into another listing, which helped us leverage that in the neighborhood.
Photo by Marion Butterfield
How has video helped your business?
Stephen Mazurek
As newer agents, what advice would you give to an agent who has been around a long time?
Ruth: During open houses, I like to do short videos and send to those clients that I met instead of a text. I also do transactional videos to help remind the clients what's going to be happening now that our offer has been accepted, as well as throughout the process.
Ruth: Don’t be afraid of technology! Try to have fun with it. If you make mistakes, that actually makes you look more human.
Stephen: Since I'm out on appointments a lot, if I do come across a house that is perfect for someone I’m not with at the time, I will film a short tour or highlight a room they may like. It’s gotten people to come back out of the woodwork and want to go see it.
Stephen: Have a plan! Create steps and goals to work toward; otherwise, you’re just working aimlessly.
For new agents, what is the best way to find leads, and would you recommend buying leads? Ruth: Do as many open houses for people on your team as you can and really connect with those buyers. As soon as they left, I would make a little cheat sheet with everything I talked to them about so I could remember and follow up after the open house. I have never bought any leads. Ryan: We've never paid for leads, and I think that the money could be better spent on building your brand and creating marketing pieces. I still think the best way to get leads is meeting people belly to belly, whether that's going out networking, being involved in the community, or doing open houses for other agents. Stephen: I would host open houses for other team members. They taught me how to do open houses, and following up is super important. We’ve also used Zillow referrals.
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Ryan: Video! You could really utilize technology and leverage it to take your business to the next level.
Cold calling, door knocking, or neither? What works best for you? Ruth: I don’t do cold calling, but I do like door knocking. If I have a listing coming or just sold a listing, then I want to get to know the neighbors. If it’s in my farm, I will door knock. Ryan: I believe in door knocking over cold calling. It’s a lot easier to connect with someone, see their reaction, see if they're interested or not rather than just calling them up, especially with the number of spam calls we get nowadays. A lot of people ignore the call in the first place or don't want to talk.
What do you wish you had done in 2021 that you never got around to doing? Ruth: I did not get to have as many coffee and lunch dates with my friends. Work has kept me pretty busy. I try to stay connected to my friends and clients. Stephen: Start farming! It's very clear that new listings are extremely important in this market, so I'll be doing my first set of mailers. Ryan: Organization. I’ve never had a great CRM, so I really need to put in the time to set it up and organize it. OC REALTOR®
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Winners Diane van der Goes, Michael Hickman Jr, and the Seven Gables Winning Team: Victoria Hill, Marry Connally, Derek Quinn, Don Quinn, and Micah Stovall (not pictured)
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Best Male Costume
JC Southwell pictured with Monica Salazar
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Best Female Costume Maria Elena Banks
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Best Team Costume Anvil Real Estate Group
High Game – Female High Series – Female
High Game – Male
Ann Brunning
High Series – Male
Jim Holder on the left Tony Brunning on the right
High Series – Team 1st Place “The Travelers” Ann Brunning, Tony Brunning, Maria Elena Banks, and Tim Hayden
High Series – Team 2nd Place “Cobra Kai” Joey Leisz, Bryn Hutchinson, Jesse Olson, and Aaron Rosen
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