Naples Area Board of Realtors Q4

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RiverCreek is previewing from Valencia Bonita • 28382 Turin Court, Bonita Springs, FL 34135

RiverCreek is being developed and sold by Lee County Homes Associates IV, LLLP, a Florida limited liability limited partnership. This is not an offering in states where prior registration is required. Photography used in this brochure and/or any of the materials contained within this brochure, and in the sales and information center displays, may be stock photography and is used to depict the spirit of the lifestyles to be achieved rather than any that may exist or that may be proposed. Prices, terms, plans, specifications, features, elevations, designs, dimensions, and materials are subject to availability and change or substitution by Seller without notice. Illustrations of elevations and plans are only artist’s depictions and are not representations of any kind. In production, plans and elevations may vary in precise details and dimensions and may not be as shown. Landscaping depicted is not to scale and may vary as to type, maturity, location and number. Please see a Sales Associate for complete information. Equal Housing Opportunity. All rights reserved. ©2022 1100-779 Naples Realtor, Oct 2022

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the ultimate in comfort, convenience, and

CONTENTS

FEATURES

30 Property Insurance Woes

How the high price of homeowners and flood insurance is impacting real estate transactions and Florida residents.

34 Naples Market Comes Out on Top

From natural amenities to a toprated quality of life, Naples stacks up favorably against housing markets nationwide.

38 Ready, Set, Flow

Real estate veterans share tips for preparing for season.

DEPARTMENTS

10 Message from the President

14 For Openers

An in-depth look at the Hometown Heroes Housing Program. Under the microscope: Two class-action lawsuits against National Association of REALTORS® challenge broker-buyer commissions. What rising interest rates mean for homebuyers, the local market, and REALTORS®. Condo Basics 101 for buying and selling. Legislative update. Photofy app.

42 Get Smart

NABOR® is NAR’s Ambassador Association to Costa Rica—what it means for members. Building your referral network. When to get a coach. NABOR®’s new logo and expanded member benefits. Tune in to NABOR®. Learn about the benefits of Naples REALTOR® magazine. Interference in exclusive listing agreements. How to become a market expert. RPAC’s hard work pays off.

58 NABORhood

Magazine and Community Involvement Committees, new NABOR® staff members, awards, social photos, and upcoming events.

69 The Close

Local Scene: Revs Institute. Dining: Food trucks with international fare. Picturing Paradise: Audubon Corkscrew Swamp Sanctuary.

TAKE A PEEK AT YOUR FUTURE

SCAN THE CODE WITH YOUR PHONE’S CAMERA TO DISCOVER THE DOWNING-FRYE DIFFERENCE.

MIKE HUGHES , Vice President (239) 398-7572

MHughes@ DFryeRealty.com

WENDY MORELL, Recruiting Mgr. (239) 300-5979

Wendy@DFryeRealty.com

JERRY MURPHY , Mgr. Bonita Springs (239) 877-2002

JMurphy@ DFryeRealty.com

NAPLES REALTOR

NABOR® Officers 2022

President

Ryan Bleggi

President Elect

Nick Bobzien

Vice President/Secretary

Christine Citrano

Treasurer

PJ Smith

NABOR® Directors 2022

Paula Angelopoulos Urbinati, Corey McCloskey, David Puskaric, Marcie Roggow, Stuart Tackett, Terrilyn VanGorder, Mary Waller

NABOR® COMMITTEES 2022

Budget & Finance Chair

PJ Smith

Budget & Finance – NABOR® Metrics Chair

PJ Smith Commercial Chair

Austin Howell Vice Chair

Cristin Madden

Community Involvement Chair

Gretchen Shelton

Vice Chair

Nancy Bjork

Diversity, Equity, & Inclusion Chair

Paula Angelopoulos Urbinati

Events for Networking Chair

Shannon Livingston Vice Chair

Ben Boorom Expo Chair

Jorge Velasquez

Vice Chair

Julie Blanton

Economic Summit Chair

Brenda Fioretti

Vice Chair

Gwen Davis-Gideon Global Business Chair

BJ Cottrell Vice Chair

Brett Brown Governmental Issues Chair

Maurice Cossairt Vice Chair

Tom Regan

Governmental Issues Water Quality Chair

Adam Vellano Grievance Chair

Larry Fleming Vice Chair

Courtney Smith Leadership Development Chair

Ron Coburn Vice Chair

Mariana Birmingham Legal Resources Chair

Jeff Jones Vice Chair

Sam Saad

Media Relations Chair

Ryan Bleggi Membership Chair

Sandra Schlaupitz Vice Chair

Perry DeSiato Membership – Broker Involvement Chair

Adam Vellano

NABOR® History Chair

Ray Gonzalez NABOR® Magazine Chair

Mary Waller

MLS Chair

Shaun Garry Vice Chair

BC Cloutier

Professional Development Chair

Adam Vellano Vice Chair

Rick Baranski

Professional Development – Instructor Advisory Council Chair

Gwen Davis-Gideon Professional Standards Chair Rick Fioretti Vice Chair

Carrie Lademan RPAC Chair

Brett Brown Vice Chair

Sara Brand

Young Professionals Network Chair Henry Albarracin

Vice Chair

Allisa Pipes

Naples REALTOR® Magazine Editorial Board

Chair

Mary Waller

Director of Marketing

Marcia Albert

Patricia Asencio

Paula Angelopoulos Urbinati

Chris Capon

Gwen Davis-Gideon Karen Mckay Jefferys

Paula King Elizabeth Grace Koplitz

NABOR® Staff

Chief Executive Officer

Marty Manion

Administrative Assistant Ann Mazzei

Education Administrator

Jeanette O’Neill

Administrative Assistant to the Executive Committee

Deborah Linville

Chief Administrative Officer Corie Chase Chief Financial Officer

Carl Russell Assistant to Chief Financial Officer

Deb Joyner

Director of Marketing Marcia Albert

Director of Membership Elizabeth Saggio

Director of MLS Cindy Cornman

Director of Professional Development Services Michelle McKenna

Director of Engagement and Events

Melissa Bognaski

Membership Administrators

Sherry Olson Zamira Collado

MLS Compliance and Support Specialist

Cheyenne Chase

MLS Support Specialist

Allisson Gonzalez

Network Technician

Michael Bryant

REALTOR® Store Manager

Taiana Londoño

Receptionist

Joan Welsher

Vice President of Public Policy

Danielle Brazil Hudson

Videographer Wade Mastro

Publisher Liz Goodman

Editorial Director Daphne Nikolopoulos

Editor Cathy Chestnut

Creative Director Olga M. Gustine

Art Directors Diana Ramírez, Jorge Marquez

Web Editor Abigail Du y

CONTRIBUTING WRITERS

Gina Birch, Robin F. DeMattia, Artis Henderson, Dick Hogan, Beth Luberecki, Nanci Theoret

CONTRIBUTING PHOTOGRAPHERS

Wade Mastro, Andrew Occhipinti, Jerry Rabinowitz

ADVERTISING

Advertising Services Coordinators Rebecca Desir, Elizabeth Hackney, Pamela Schultz

PRODUCTION

Production Director Selene M. Ceballo

Production Manager Kayla Earle

Digital Pre-Press Specialist George Davis

Advertising Design Coordinators Anaely J. Perez Vargas, Je rey Rey

OPERATIONS

Chief Operating O icer Todd Schmidt

IT Manager Keith Gonzalez

Distribution Manager Judy Heflin

Logistics Manager Omar Morales

Circulation Manager Marjorie Leiva

Circulation Promotions Manager Marcos Alviar Circulation Assistant Elizabeth Gillespie Accounting Specialist Mary Beth Cook

Accounts Receivable Specialist Ana Coronel

Group Publisher Terry Du y

800-308-7346

Ronald J.

Stefan Wanczyk

John Balardo

FL 33480

naplesillustrated.com

MESSAGE FROM THE PRESIDENT THE VIEW FROM THE HALF-WAY MARK

Ithink that we have all been feeling a transition from the record-setting pace that we’ve been fortunate to experience for the past two years, so I thought it would be interesting to re ect on some data to see how the market has evolved over 2022 in Collier County (minus Marco Island).

Due to magazine publishing schedules, I am using statistics from the end of the second quarter to review the market transition. We began the year with an inventory level of 0.9 months and as of June 30, our inventory stood at 2.2 months. Historically speaking, equilibrium is achieved between 6 to 12 months, depending on the area. It increased roughly about 0.3 months per month over the year, so we still had quite a way to go until we hit 6 months. I like to run comparisons with the year 2019, which was the last “normal” year prior to COVID. At the end of June 2019, we had 5,531 properties for sale but had only 2,294 at the end of June 2022.

Looking at total units sold for 2022, we stood at 6,334, which was down 33.2 percent compared to the same period in 2021 when we were all running around with our hair on re. Interestingly, though, the median sold price increased 36.5 percent ($580,000) compared to 2021 and the average sold price increased 29 percent ($1.039 million) compared to 2021. In 2019, those two metrics were $340,000 and $631,000 respectively.

Here are the two last metrics before I start to become boring: sale price to list price ratio and days on market. Are you ready for this whopper? As of June 30 year-to-date, we were still averaging 100.4 percent of the list price paid at closing. at is up from 2021 when it was 98.1 percent and up from of our historical average in 2019 of 95.5 percent. Our days on market for the year 2022 was 19 compared to 57 for the same period in 2021 and 103 in 2019.

So, it is safe to say that our market is shifting to a balance, but it still has a long way to go before we reach our historical norms. Just keep doing the basics and focusing on acquiring listings and you will be in the driver’s seat of your business.

is is my nal magazine article as your 2022 President, and it has been a great honor to serve. I wish all of you the best of luck, and I always enjoy meeting new agents or talking shop, so never hesitate to reach out.

NABOR® President

NATURE NURTURE

Welcome to a rare life within nature, nurtured by legendary service. With a private lagoon and aquatic preserve in your back yard. The Saltleaf marina and golf course in your neighborhood. And hospitality that frees you to enjoy it all. By London Bay Development. Select residences available, choose your views now.

THERESIDENCESESTEROBAY.COM | 239.788.0155

The Ritz-Carlton Residences, Estero Bay are not owned, sold or developed by The Ritz-Carlton Hotel Company, L.L.C. or its affiliates (“The Ritz-Carlton”). LB Estero Bay Investments, LLC uses The Ritz-Carlton marks under a license from The Ritz-Carlton, which has not confirmed the accuracy of any of the statements or representations made herein.

Your golfing friends at Eagle Creek invite you to

OPENERS

HOMETOWN HEROES HOUSING PROGRAM

Down payment and closing cost assistance

BY ARTIS HENDERSON

In January, the 2022 Florida Legislature made important strides toward ensuring housing for some of Florida’s most essential populations—the teachers, nurses, re ghters, police o cers, and EMT workers who keep the community thriving and safe. With the recent rise of home prices in the Naples area, this population is often at a loss when it comes to buying a home, particularly a rst home.

To a ord the median Collier County home price of more than $750,000 requires a salary of at least $98,600 per year. However, the median household income in Collier County is $70,217, according to 2020 U.S. Census Bureau estimates. ese challenges persist throughout Florida, according to Florida Realtors®. Statewide, the median price of a home has climbed 58 percent since 2016. At the same time, salaries for hometown heroes have lagged home costs. According to Florida Realtors® data: Statewide, emergency medical technicians and paramedics make on average $33,600 each year. Licensed practical nurses make $46,290. Fire ghters make $49,870. Elementary school teachers make $56,540 and middle school teachers make $57,280. In Collier County, the disparity between wages and home costs has forced essential workers to live outside the county. Collier County has reported that more than 48,000 members of the local workforce live outside the county.

“Collier County is so expensive,” says Andy Gonzalez, vice president of public policy at

Florida Realtors®. Gonzalez and his team have played an important role in advocating for a ordable housing for frontline workers in Florida. “We hear from our members about police o cers and other essential sta having to drive 45 minutes or an hour just to get to work,” he says. “It’s not sustainable.”

One of the biggest barriers to entry when it comes to a ording a home—especially a rst home—is the capital needed for a down payment and closing costs. “Given the price factors in a municipality like Naples, anything we can do to try and help those individuals get into their rst home is a huge win,” Gonzalez says.

Gonzalez and his team at Florida Realtors® have been instrumental in lobbying for legislation to help rst responders, medical personnel, and teachers bridge the gap in a ordability. In January, they achieved victory they had been aiming for when the Florida Legislature approved the Hometown Heroes Housing Program.

How the program works:

∙

Reduces upfront costs for rst-time home buyers who work in eligible professions by providing zero-interest loans for down payment and closing costs

∙ Loans provide up to 5 percent of the rst mortgage loan amount, not to exceed $25,000

∙ Loans must be repaid in full if the buyer sells, re nances, or rents the home

∙ Available to rst-time homebuyers with an income that is less than 150 percent of the state or local median income

Andy Gonzalez

To qualify, participants must be employed as: law enforcement officers, certified correctional officers, probation officers, 911 operators, firefighters, paramedics, emergency medical technicians, teachers, education administrators, or health care professionals. (For a complete list, go to floridahousing.org.)

“As home prices continue to rise, we look at the salaries for the professions in the Hometown Heroes Program and we see that those salaries aren’t meeting demand,” Gonzalez says. “We’ve been huge advocates for affordable housing, especially down

payment and closing cost assistance.”

The pandemic made the situation more urgent as frontline workers gave enormous effort yet continued to face increased barriers to buying a home. That’s when members of Florida Realtors® considered existing programs and set out to create a similar model. They sat down with the team from Florida Housing Finance Corporation and discussed a parallel program— the Salute Our Soldiers Military Loan Program which helps veterans and active-duty military personnel with down payment and closing cost assistance. “We copied a lot of the parameters in that program and created legislation that would

mirror the program for Hometown Heroes,” Gonzalez says.

Their advocacy efforts paid off. The Florida Legislature set aside $100 million for the Hometown Heroes Program in January.

“We’re very, very excited,” Gonzalez says. “The program has been met with a lot of enthusiasm. People are already putting their name in the reservation system for these loans.”

Funding for the program started July 1, 2022. Those who work to keep our communities safe will have the opportunity to achieve the American dream of homeownership. And that’s a win for Collier County.

OPENERS

UNDER THE MICROSCOPE: BUYER-BROKER COMMISSIONS

Two class-action lawsuits against the National Association of REALTORS ® raise questions about how commissions are paid

BY ROBIN F. DEMATTIA

Two major class-action lawsuits pending against the National Association of REALTORS® (NAR) allege antitrust violations related to broker commissions. NAR is vigorously defending them.

Both lawsuits were led in the U.S. District Court for the Northern District of Illinois because NAR is headquartered in Chicago, and both are also against Realogy Holdings Corp., Berkshire Hathaway HomeServices of America, Inc., RE/MAX Holdings, Inc., and Keller Williams Realty, Inc. (A third one was dismissed in May.)

While the lawsuits address similar issues, they have di erent plainti s.

In Moehrl v. e National Association of REALTORS®— led in 2019—the plainti s allege that sellers who paid broker commissions in the previous four years related to residential real estate listed on one of 20 multiple listing services (MLS) were required to pay the broker representing the buyer of their homes and paid an in ated amount that they couldn’t negotiate.

Sitzer/Burnett v. e National Association of REALTORS®—headed for trial in February—is speci c to people who sold a home in or near Missouri and paid a commission to a buyer’s agent. is suit alleges that buyers paid higher costs when purchasing homes due to buyer-brokers being incentivized to show homes that o er them higher compensation.

In both cases, plainti s allege that NAR’s MLS rules require brokers to make a non-negotiable o er of buyer-broker compensation.

Other antitrust issues raised in the lawsuits allege that NAR prohibits MLS from disclosing to prospective buyers the amount of a commission the buyer-broker will earn; it allows buyer-brokers

to mislead buyers into thinking their services are free; it enables buyer-brokers to lter MLS listings by commission and potentially steer buyers away from lower-commission properties; lockbox access is limited to NAR agents; and commission-sharing in ates home prices.

e plainti s are seeking payment for damages for homebuyers and sellers in the class-action lawsuits and for the court to restrict NAR from requiring that sellers pay the buyer-broker. It has been an NAR policy since 1913 that sellers’ agents must split their commission equally with the buyers’ agents.

“In both cases, the plainti s are really saying that their clients paid more money than they reasonably should have for REALTOR® services,” says James A. Pilon, a partner with the law rm ofSiesky & Pilon and 2003 NABOR® President. “What’s really interesting is that the rst case complains that the sellers of real estate paid too much because of NAR and MLS policies and the second is the ipside of that—that the buyers paid too much. ey are di erent theories that have come together. It’s interesting that they’re doing this from both sides.”

Pilon emphasizes that “NAR believes the lawsuits mischaracterize MLS rules and the entire MLS system.” He points out that broker commissions are outlined in listing agreements that sellers sign when properties go on the MLS.

“It shows that if the buyer obtains the services of his or her own REALTOR®, there will be a split of the commission and the seller’s agent is willing to share the commission and it’s typically a 50-50 split,” he says. Sellers typically factor in broker commissions when setting their sales price, he adds, and they can negotiate having the buyer pay the commission.

“What’s really interesting is that the first case complains that the sellers of real estate paid too much because of NAR and MLS policies and the second is the flipside of that—that the buyers paid too much,” says Naples attorney James A. Pilon

Local Impact?

In the Collier County market, buyer-broker agreements aren’t used often, Pilon says, though NABOR® has one available for REALTORS® who choose to use one. Buyers can simply ask their agent how they are getting paid. ey also see the buyerbroker’s compensation on their closing documents.

Pilon does not anticipate any major changes to happen due to the lawsuits. “ e system works very well helping buyers and sellers get together to make a deal,” he says. e MLS, he notes, helps buyers and sellers see what is happening in the marketplace by visiting any REALTOR®. In countries that do not have an MLS, buyers must visit o ces of the many independent REALTORS® to see what is available.

In Florida, any licensed real estate agent in the state

has access to lockboxes, he notes, and no standard commission exists. “A seller or buyer is always free to negotiate commissions,” Pilon says. “ e listing agent has a lot of blank spaces, and one area is “commission.” ere’s a free-market aspect here.”

REALTORS® are keeping their eyes out for the outcome of these potentially historic lawsuits. NAR argues that commissions level the playing eld for small and large brokers and provide an economic bene t to buyers and sellers because they don’t have to pay fees in cash at closing, which “would inevitably make rsttime homeownership more di cult,” says 2022 NAR President Leslie Rouda Smith. “Paying out-of-pocket would also increase the racial and economic disparities in homeownership that currently exist due to systemic di erences in family income and wealth.”

James A. Pilon

Leslie Rouda Smith

Rising Mortgage Interest Rates

BY GINA BIRCH

The Federal Reserve sent a bit of a shockwave through the real estate market when it boosted interest rates in June and July totaling 1.5 percent. While a rate hike was anticipated, it wasn’t expected to be this high; they were the largest back-toback increases since the early 1990s. Four hikes during the rst half of the year totaled 2.25 percent and experts warned there would likely be more coming in the fall and winter.

e price of homes has been surging upwards in the past couple of years and the record-low mortgage rates added fuel to the growing problem of pricing many people out of the market. e rate hike is an attempt to curb in ation by making it more expensive to borrow money.

“ e market was white hot and there was just no way to sustain it the way it was going,” says a philosophical Rosa Madrid, a loan o cer at Movement Mortgage.

During the last 50 years, rates, at times, have been much higher than they are now. However, the di erence this time, according to Madrid, is the skyrocketing appreciation of homes. “People have panicked and are trying to get a grip on what has happened,” she explains.

While there are many variables to the mortgage rate hike—how and why it happened—the big question on everyone’s mind is what happens now.

Silver Linings

Madrid says REALTORS® can work with loan o cers as a team to provide wouldbe buyers with historical data from past recessions that show that home prices typically stabilize or appreciate at a slower rate during these times.

e slowdown might make it easier for some rst-time homebuyers to get their foot in the door when it comes to submitting o ers. ere are also numerous lending programs available now that can help.

Look at the sunny side, says Jayne Malinowski, vice president of regional mortgage production for Florida for Lake Michigan Credit Union of Florida. “If you think about it, rates really aren’t that bad,” she says. “I remember when they were more than 18 percent.”

To help with nancing, she advises looking at a 7-year adjustable-rate mortgage (ARM) instead of a 30-year, xed-rate loan. “ ey are lower if you are willing to look at them and feel comfortable with them,” Malinowski says.

Also research the new Hometown Heroes Housing Program. It helps reduce upfront costs for teachers, nurses, re ghters, police o cers, and EMT workers. More occupations have been added since its inception this spring. e program provides zero-interest loans for up to 5 percent of the mortgage loan, not to exceed $25,000—a signi cant boost for families and individuals trying to buy their rst home.

Both women agree that now is the time to act when it comes to home purchases. Waiting could be an even more expensive gamble. Don’t compare or confuse what is happening now with what happened in 2008 with the real estate crash that sparked the Great Recession, they say.

“It’s totally di erent. All signs are pointing to an economic recession, not a housing crisis,” says Madrid. “In 2008, there was no diligence being done on money loaned. Home values went up, but it was due to irresponsible lending.”

Besides pulling data on mortgage rates, Madrid suggests REALTORS® do the same for rental rates, which are climbing at a similar pace. A good question to ask potential buyers who are holding back is, “Would you rather have a xed mortgage that you can handle or be in limbo every year paying someone else’s mortgage?”

ere is still a shortage of inventory, but the rate hike may scare away some competitors, so buyers stand a better chance of locking in a purchase with a payment they are comfortable making every month until the rates drop again.

“Don’t wait too long. Marry the house not the rate,” Madrid advises. “ ere will be an opportunity to re nance at some point.”

Malinowski says demand for Collier County real estate remains high, no matter the interest rate. “I don’t think we should be too concerned about the interest rate. People are still coming (to Florida) from all over and the in ux won’t stop,” she observes.

“ e di erence is we have many mortgage programs now to help. I wouldn’t want to be anywhere else but Florida. We still have a lot to o er here.”

What it means for homebuyers, REALTORS ® , and the housing market

Rosa Madrid

CONDO BASICS 101

BY BETH LUBERECKI

Listing or selling condominiums typically requires REALTORS® to take some additional steps compared with listing or selling single-family homes. Here are some basics that Naples Area Board of REALTORS® (NABOR®) members should keep in mind when working with customers who want to purchase or sell a condominium.

On the listing side of the equation, an agent should start by ensuring they understand every piece of information that needs to go in the MLS listing. “There’s the property manager’s name and number, for example,” says Marcie Roggow, broker associate at Douglas Elliman Real Estate. “So, before you even start to talk to someone about listing a condo, pull up the MLS input sheet and figure out what it is you’re going to need to know.”

Agents should also gather all the documents that are required to be provided to condo buyers, which include the declaration of condominium, articles of incorporation, bylaws, rules, and association regulations (including amended and restated versions and amendments if applicable), most recent year-end financial information, governance form, and “Frequently Asked Questions” sheet. David Puskaric, managing broker-owner of Parkline Realty, suggests contacting the condo’s management company to request the most recent versions of these documents.

REALTORS® should also check whether the condominium is located within a larger master-planned community where owners are part of both a condo association and a homeowners’ association for the larger community. “Make sure you disclose each and every association,” says Puskaric.

Roggow recommends having all the documents on hand before you even list the condo. “With this market, you might need them the first day of the listing,” she says.

For REALTORS® working with customers interested in buying a condo, they should ensure that their customers receive all the required documents and sign the required forms related to receipt. If a buyer has specific legal questions about any of these documents, they need to turn to a real estate attorney, says Roggow.

All in the Details

Condominium buyers—especially first-time condo buyers— need to fully understand what they are getting into. Questions agents might pose to buyers interested in purchasing a condo include: How are you planning to use it? Do you plan to live in it as your permanent or second home? Or are you hoping to rent it? The answers to those questions will guide agents as to the best condo properties to show their customers.

∙ Some condo associations only allow certain types of rentals. A knowledgeable agent will be educated about the different condo complexes in the area and only show customers properties that fit their needs from the beginning.

∙

Agents should also encourage buyers to ensure that they fully understand the governing documents of any condo community they’re considering. Are pets allowed? How many parking spaces are allotted per unit? Buyers should “take a close look at the rules and regulations to see if

Here are some key things NABOR ® members should keep in mind when listing and selling condominiums

there is anything that stands out,” says Puskaric. “Sometimes people move into a place, and they don’t realize the rules.”

∙

Buyers also need to understand the financial picture of the condo complex where they want to purchase a unit. First, they need to have clarity about the regular assessment fees that owners must pay, such as how much they are, how frequently they are paid (monthly? quarterly?), and what they include (sometimes things like basic cable and landscaping in addition to general building maintenance and upkeep).

∙ Then buyers should use the documents to understand how the complex is positioned in terms of reserves and/or contingency accounts to pay for both major projects like painting or roof replacement and unexpected emergency repairs like storm damage.

∙

The question of future special assessments is a tricky one. Buyers with questions about the management of a condo association or finances should reach out to the property management firm or condo association for clarification. A unit at a complex that doesn’t have well-funded reserves “is probably not going to be the best purchase,” says Puskaric.

F inally, condo buyers who will be financing their purchase need to find out from their lender any rules it has pertaining to the ratio of owneroccupied versus investor-occupied units in a condo building. Agents need to show potential condo buyers the properties that match their requirements. One thing that agents “learn really fast is how not to waste time by showing properties that won’t work,” says Roggow.

David Puskaric

Marcie Roggow

FOR OPENERS

Several new laws affecting real estate in Florida took effect on July 1 2022 Legislative Update

BY CATHY CHESTNUT

July 1 marked the day that new laws passed during the 2022 Legislative Session took effect. In addition to the much-heralded Hometown Heroes Housing Program (see page 14 for more details), here are new laws REALTORS® should know about:

Home hardening and other tax breaks for Floridians (HB 7071) — Provides sales tax relief to homeowners who harden their homes from storms. The bill also includes an abatement of all property taxes for owners of the condos that collapsed in Surfside, pro-rated refunds of property taxes on residential properties rendered uninhabitable by a catastrophic event for at least 30 days, and a sales tax reduction on new mobile homes.

Flooding and sea level rise resilience (HB 7053) — Establishes the Statewide Office of Resilience within the Governor’s Office. It sets aside a minimum of $100 million in funding to be identified annually for ranked resilience projects.

Private property rights (SB 518) — Helps property owners who wish to prune, trim, and remove trees that present a danger to their property by strengthening a 2019 law that prohibits local governments from requiring permits for the removal of “dangerous” trees on residential property.

Water quality (HB 965) — Creates a public/private partnership-oriented approach to improving water quality by authorizing the creation of water quality enhancement areas—natural

systems constructed, operated, managed, and maintained to provide offsite regional treatment through enhancement credits.

Preventing unlicensed real estate activity (HB 5001) — The legislature allocated up to $500,000 in the 2022-2023 fiscal year budget to combat unlicensed real estate activity.

Everglades — The 2022-2023 fiscal year budget includes money for Everglades Restoration ($425 million), Lake Okeechobee Watershed Restoration ($450 million), springs

restoration ($75 million), beaches ($50 million), Biscayne Bay ($20 million), the Wastewater Grant Program ($125 million), and the Resilient Florida Grant Program ($470 million).

Septic system inspections (SB 856)

— Makes private inspections an option for septic systems. Cities and counties have dealt with a backlog of septic inspections for years, partially because of the limited number of inspectors and workload. This bill allows an authorized contractor to hire a private provider to inspect the system.

(Source: Florida Realtors®)

Deciding which day is the best day at Kalea Bay is quite simple. It’s any day that ends in “Y.” Mondays are made for workouts on our sky deck. Tuesdays are for tennis. On Wednesdays, watch the sun setting from your oversized lanai. Treat yourself on Thursdays with poolside service. Friday night fun is always found at the Club and around the bar. Splash away your Saturdays atop 23 stories at our rooftop pool. Sunday morning mimosas taste best when sipped in your own space. Yes, every day is the best day at Kalea Bay.

At Kalea Bay, the perfect day ends in “Y”

FOR OPENERS

IN STORE FOR YOU

CELLPHONE ACCESSORIES

BY TATIANA LONDOÑO, NABOR® STORE MANAGER

REALTOR® Cellphone Card Holder

Holds four to six business cards or one or two credit cards, made of durable silicone. Never get caught without a business card…if you have your phone, you have a business card to give out.

Member Price: $3.99 + tax

REALTOR® Cellphone Pop-Socket

Add a single or a pair of Pop-Sockets to the back of almost any mobile device to transform its capabilities. Pop-Sockets “pop” whenever you need a grip, stand, or earbud management.

Member Price: $8 + tax

REALTOR® Cellphone Wireless Charger

Two USB ports for charging additional devices, foreign-object detection functionality, Qi-equivalent compatibility, ABS casing, and output 5V/1A. Includes 31-inch micro-USB charging cable. Size: 3-1/2 in. x 3-1/2 in. x 3/8 in.

Member Price: $14.95 + tax

Conroy, Conroy & Durant, P.A.

Conroy, Conroy & Durant, P.A. (“CC&D”) is a boutique real estate law firm which has focused on real estate solutions for over 27 years. Founded by attorneys with deep roots in the community, CC&D has grown to help our clients navigate Naples’ increasingly competitive and sophisticated real estate market. Whether seeking representation in the purchase or sale of commercial or residential property, our team of lawyers has experience handling complex real estate transactions with integrity.

Reputable: CC&D has four attorneys who are board certified in real estate law by the Florida Bar. In addition, each partner has achieved an AV-rating by Martindale-Hubbell, demonstrating the highest level of professional excellence and ethics.

Reliable: Over the years we have not only developed procedures for the various types of real estate transactions, but also established relationships with local companies involved in real estate transactions, both of which allows us to provide our clients with reliable and prompt service.

Accessible: Each real estate transaction has a legal team comprised of an attorney, paralegal, and legal assistant, which lends itself to an increased level of communication and availability.

The attorneys and staff at CC&D are proud of our commitment to excellence in real estate.

Focused Real

Conroy, Conroy & Durant, P.a.

2210 Vanderbilt Beach Rd., Suite 1201 Naples, FL 34109 (239) 649-5200

Fax: (239) 649-8140 naplespropertylaw.com

Residential and Commercial Real Estate

OPENERS

PHOTOFY

Free custom social media graphics

Take your social media presence to the next level with the newest National Association of REALTORS® member bene t— Photofy, a powerful mobile content creation tool. With this app, you can quickly create and share consumer-facing social media content that is sure to catch attention on Facebook, Instagram, LinkedIn, and Twitter.

What you get

→ 300+ customizable photo/video templates

→ 200,000+ artwork and sticker overlays

→ 100+ animated GIF overlays

→ 500,000+ royalty-free stock photos and videos

→ Custom-branded templates and artwork storage

→ Ability to upload brand logos, set fonts, and add colors

→ Direct share options, save to device, or schedule for later

Plus, when you join and download the app, you’ll also have access to the National Association of REALTORS® library of social media shareables.

How to get it

■ Register for Photofy through the NAR portal: signup.photofy.com/nar

■ Download the Photofy app on your mobile device

■ Sign in using your business–registered email address along with the password you created

■ Fill out the information on the welcome page

“To chase your hopes and dreams takes bravery. To stay on course takes courage. The journey between the two is commitment.”

— Margy Grant, CEO, Florida

Discover the new look of luxury at Minto.

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option selections completed, and mortgage commitment or proof of funds received. Realtor must bring in customer for customer to receive additional incentive.

see a New Home Sales Professional for details. Commission advancement will be paid after all required deposits have cleared, all option selections completed, and mortgage commitment or proof of

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PROPERTY INSURANCE WOES

BY DICK HOGAN

Skyrocketing homeowners insurance premiums are posing a serious threat to residential real estate sales in Naples and around the state, experts say. The Florida Legislature has passed measures over the past year that will eventually remedy the situation—but there’s no quick solution in sight.

“In general, in Florida, the homeowners insurance industry is in a complete state of turmoil” for the time being, says Keller Williams Realty Naples broker Jeff Jones.

Further aggravating the situation, he says, was the aftermath of Hurricane Irma, which came ashore in southern Collier County in September 2017, flooding some communities and leaving behind a slew of roof damage claims. As a result, he says, “there are few major insurance carriers in Florida that write homeowners insurance policies.” Of the smaller ones that remain, he adds, “there aren’t many insurers in Florida that are not in the red.”

How the high price of homeowners and flood insurance is impacting real estate transactions and Florida residents

William Dukes

Kim Vargas

e cost of a homeowners policy—once a minor factor in the mortgage approval process—is now so high that lenders are wary about how it could a ect the ability of borrowers to handle their mortgage payments, says William Dukes, senior mortgage loan o cer of Naples-based Summit Mortgage Corp. “Back in the day, people would get their insurance and tell us who their insurance was a week before closing,” he says. “And it was all ne.”

Now, Dukes says, with fast-rising insurance rates, there’s a good chance a buyer can be blindsided by an unanticipated whopper of a homeowners policy.

“We didn’t want to take that chance, so we started making sure we had a decent quote from our buyers early in the process,” he says. “We told them, ‘Hey, get this early. Don’t let this go to the end. Get this now because we’ve got to make sure it works with your underwriting.’”

e situation isn’t all bleak, Dukes says. “We’re nding from the insurance agents that if you’re buying from somebody who already has ood insurance, you can piggyback onto their deal, at least until it expires.”

But he’s seen rsthand that even people who successfully navigate the loan process and settle into a new home can face an abrupt cancellation of their existing policy—followed by a hard choice of how to replace it. “My wife and I had decent insurance for our home that got canceled last December,” Dukes shares. “We got canceled because our roof was more than 15 years old. In my community, we have reserves for new roofs and we’re not getting new roofs until 2025. Our roofs are all in decent shape but everybody’s getting cut o at their renewal.”

With their $1,600 existing policy canceled, replacing it would cost $2,700 to $3,500, Dukes says. e couple ended up going with a limited policy through Citizens Property Insurance Corp. for $2,300. “Are we covered now? Yes. Is it great coverage? I’m told it’s adequate.”

e bottom line, Dukes says, is that people looking to buy an older home—especially one in a high-risk ood zone or with a roof more than 15 years old—should look before they leap. “I encourage them, especially through their REALTOR®, to get some quotes before making an o er to make sure you don’t get a

nasty surprise after you’re in contract.”

Help has nally arrived. A new provision passed this year states:

An insurance company cannot refuse to issue or renew a homeowners insurance policy on a home with a roof less than 15 years age solely because of the roof’s age.

If a roof is 15 years old or older, an insurance company must allow a homeowner to have a roof inspection performed by an authorized inspector before requiring the roof to be replaced in order to have the policy issued or renewed.

e homeowner is responsible for the cost of the inspection. e insurance company may not refuse to issue or renew a homeowners insurance policy solely because of roof age if an inspection of the roof indicates that the roof has ve years or more of useful life.

POLICY CANCELLATIONS

Remaining insurance companies have sharply increased their rates, says Andrea Pelletier, a client advisor with Gulfshore Insurance in Naples.

e problem has been compounded as the passage of time makes residences more vulnerable to water damage, she says. “All these properties are getting older,” Pelletier says. “Ceilings fail, the washing machines fail, water supply lines fail—and water loss occurs.”

As a result, she says, insurance claims have mounted as preventative measures improve. “Homeowners have been more diligent about installing di erent kinds of water leak-detection systems and so have condo associations,” Pelletier says. “So, there are fewer claims, but statistics show the claims are each becoming more severe. Even though there are fewer claims, they’re costlier, so carriers are still losing money in Florida.”

Part of insurers’ skittishness is seasonal, she says. “We do see a trend around carriers closing during hurricane season,” Pelletier says. Insurance companies “still want to write business in Florida,” she says, and she expects the situation to improve in early 2023, “after they’ve had a chance to revamp some of their underlying guidelines.”

Kim Vargas, owner of Kim Vargas/Strategic Insurance Group in Naples, has been busy allaying panicked customers. “I’ve been extremely busy; we’re just trying to problemsolve for our clients.”

Normally, the insurance company decides to cancel about 45 days prior to the cancellation, she says, “but by the time you actually get the notice in the mail you’re looking at 30 days ahead.”

After receiving a cancellation, some homeowners wait too long to react, Vargas says. “You have, here and there, a client who might have put it o ,” she says. “It’s a week away and they’re rushing and struggling to get the insurance.”

OBTAINING COVERAGE

If no private insurance company is within a homeowner’s means, the fallback is Citizens Property Insurance Corp., set up by the Florida Legislature in 2002 as an “insurer of last resort” for those unable to get insurance elsewhere.

Vargas says many of her clients are ending up with Citizens. “At a moment like this, you don’t really have much of an option but to end up with Citizens,” she says. “Ultimately, that is the last resort and pretty much the only way to provide insurance to a lot of our clients right now.”

Citizens o ers limited coverage for less than other providers so “the premiums aren’t that bad,” Vargas says. “It’s just having the client go through that process of getting all the re-inspections of their home because they have a roo ng requirement.”

When a borrower is having trouble a ording enough homeowners insurance to be acceptable to the lender, she sometimes tries to negotiate with the lender “to try to get it somewhere within at least the ballpark.” Often, she can negotiate minor changes to the coverage or deductible that are acceptable to both sides “and sometimes we can’t,” she says.

In the absence of a traditional homeowners policy, all is not necessarily lost, although higher costs and limited coverage are likely side e ects, Pelletier says.

For example, Pelletier says, it’s sometimes possible to get a builder’s risk policy that provides coverage while the buyer makes improvements that bring a house up to acceptable standards, although, typically, “the carrier will exclude the roof and they’ll exclude water damage.”

“Once the work is done, we can roll them into a homeowners policy,” she says.

One bright spot for homeowners is that improvements have been made in the ood insurance process, Jones says. More precise mapping ensures that owners are billed more fairly for buildings considering elevation and proximity to the water, he says.

e new database makes it easier and faster to get a ood quote, Jones says. “You can get a ood quote in a few minutes from an insurance carrier, whereas it used to be a much more complicated and unbalanced process.”

A buyer can now assume the ood policy of a seller and have “a gradual glide path” to the new ood insurance rates. Under the new rates, Jones says, only four percent of property owners will experience a major increase “and those are likely homes that were probably not rated correctly in the rst place.”

WHAT IS HAPPENING?

Here’s how the property insurance crisis unfolded, experts say:

ere’s been an explosion of litigation claims against insurers, using rules originally designed for Florida homeowners who sought a judgment against an insurance company

Enterprising attorneys gured out that customers could assign their potential bene ts to a third party who could then le a lawsuit on behalf of the customer against the insurance company. Homeowners could sue the insurance company and if they won, the insurance company would have to pay the consumer's legal fees. A $15,000 water damage claim, for example, could wind up costing the insurer $100,000 with legal fees.

Laws passed by the Florida Legislature this year have closed the loophole and attorneys can no longer collect fees on an assignment of bene ts. e new laws will eventually solve the problem but, for the time being, homeowners insurance will remain expensive and providers will remain scarce.

Jeff Jones

Andrea Pelletier

Naples Market Comes Out on TOP

BY ARTIS HENDERSON

It’s been no secret that the Naples real estate market is on fire. Collier County has witnessed an incredible boom in the last 12 months compared to other markets across the country. How hot is it? According to data from the National Association of REALTORS® (NAR), the Q1 2022 median home price for the Naples-Immokalee-Marco Island metropolitan statistical area (MSA) was $745,000, more than double the median home price—$365,767—in the United States.

Other indicators that this MSA is on top in terms of property transactions:

• Property appreciated 24.2 percent over the last four quarters—compared to a 15.2 percent appreciation nationwide.

• The three-year appreciation for houses in this MSA is at 73.7 percent. It’s 44.5 percent across the U.S.

• Locally, the three-year housing equity gain is $316,000 compared to $112,700 nationwide.

Nadia Evangelou, NAR’s senior economist and director of forecasting, expects this trend to continue. “The Florida job market has already recovered from the jobs lost at the beginning of the pandemic and there’s good employment growth, which is positive for the housing market,” she says. She also points to the demographics of the greater Naples area, where older, affluent adults make up most of the housing market. “This will keep demand strong in the area,” Evangelou predicts.

Population growth is key. Florida has experienced increased rates of incoming residents over the last year. Florida’s population increased by 211,000 between July 2020 and July 2021, according to the U.S. Census Bureau. It ranks second in the nation for population growth behind Texas.

Excellent natural amenities, a top-rated quality of life, zero income tax, and relaxed COVID policies all help Naples stack up favorably against housing markets nationwide

As corporate culture has shifted away from centralized offices toward work-fromhome options, greater numbers of people are seeking the Southwest Florida lifestyle. “We expect teleworking to remain in place and for housing demand in the Naples area to remain strong,” Evangelou says.

LIFESTYLE AMENITIES

You don’t have to look far to understand why Naples is a sought-after market.

“We’ve got everything,” says Greater Naples Chamber President/CEO Michael Dalby. “We’ve got great weather practically 365 days a year. We’ve got beaches. We’ve got three performing arts centers thriving in our community. We’ve got museums. We’ve got beautiful outdoor spaces. There’s always something to do here.”

One of the best parts of Collier County is the speed of life it offers. “Southwest Florida tends to be slower-paced than the East Coast of Florida,” Dalby says. “This is a great place to just breathe. I think that’s what draws a lot of people here—an ability to reconnect with life.”

One reason people can relax and recharge in Naples is the proximity to nature. Collier County has world-class beaches, parks, and nature preserves. “Within a 30-minute drive, you can be in the Audubon Corkscrew Swamp Sanctuary and feel like you’re smack in the middle of the Everglades,” Dalby says. “That ecosystem with its plants and wildlife that are unique to South Florida makes for a great outdoor experience.”

And for those who like to be active outdoors, Naples has no shortage of sporting activities: pickleball, tennis, golf, kayaking, and paddleboarding. Unlike in northern locales, Naples residents get to enjoy outdoor sports year-round.

Added together, these lifestyle amenities create a picture of a very desirable location unique to Southwest Florida. As buyers look to shift away from other states, the Naples market has a strong appeal.

QUALITY OF LIFE

The beaches, art and culture, natural amenities, and outdoor recreational opportunities create an alluring picture of the

Naples market. And there’s more: Naples is an active participant in the Blue Zones Project. Funded by the Naples Healthcare System, Blue Zones Project Southwest Florida brings together local stakeholders to make healthy choices easier within the community.

e project, which appears in communitiesacross the nation, was developed in the wake of research by Dan Buettner and a team from National Geographic.

e team identi ed ve locations around the world where people live measurably longer than anywhere else on earth: Ikaria, Greece; Okinawa, Japan; Sardinia, Italy; Loma Linda, California; and Nicoya, Costa Rica. Researchers set out to identify the factors that enable people in these places reach the age 100 at a rate 10 times higher than in the United States with lower rates of chronic disease. eir results?

ough these communities were in di erent parts of the world, their residents shared key lifestyle characteristics that increased longevity: moving naturally, having purpose, taking time to relax, eating wisely, and creating meaningful connections and a sense of belonging.

“ e secret sauce is that everyone is coming together under one umbrella,” says Deb Logan, executive director of Blue Zones Project Southwest Florida. “We have over 800 organizations that have embraced the Blue Zones Project, making healthy choices easier at country clubs, homeowners associations, in schools, and at the workplace. With all these organizations joining forces, there’s been a synergistic impact on the community.”

e local Blue Zones Project was a natural t for the area, and it ampli es the message that residents practice healthful lifestyles, Logan says. “We have beautiful weather that encourages people to be outside, whether that’s walking a dog or meeting neighbors or swimming in the Gulf of Mexico,” she says. “ is helps people move naturally and create social connections.”

With this emphasis on health, plus the other lifestyle amenities Naples o ers, it’s no surprise that Naples ranked No. 1 in a Gallup wellbeing index four consecutive years.

LOWER TAXES AND THE GREAT WEALTH MIGRATION

e Naples market also o ers something many other markets across the nation can’t compete with: zero state income tax. “ at’s huge,” says Shelton Weeks, Ph.D., Florida Gulf Coast University (FGCU) Lucas Professor of Real Estate and director of the Lucas Institute for Real Estate Development

and Finance. “We have a very strong positive trend of migration from other states with one of the main factors being the di erential tax treatment.” is trend continued throughout the pandemic at an accelerated rate. e Internal Revenue Service publishes data each year on the migration patterns of American taxpayers. For 2020, the most recently available data, the IRS reported a shift of $23.7 billion in aggregate adjusted gross income into the state of Florida. Florida far surpassed other states, with the next closest states being Texas at $6.3 billion. New York and California experienced net losses of aggregate adjusted gross income—$19.5 billion in New York and $17.8 billion in California.

e Wall Street Journal calls it “ e Great Pandemic Wealth Migration.” An editorial published in June blamed high taxes as one of the factors contributing to the wealth shift, noting that four of the 10 states that received the biggest income shifts in 2020 don’t have state income taxes.

ough this factor a ects all income levels, the movement to Florida speci cally for zero income tax skews in the direction of those with a higher net worth. “As a rule, higher-net-worth individuals are likely better informed and are more likely to be working with nancial planning professionals,” Weeks says. “ ey often have greater degrees of freedom than working-class individuals, who are busy dealing with the brush res of the day and don’t have time to look around for opportunities.”

RELAXED COVID POLICIES

In addition to its income tax policies, the state of Florida has implemented other measures that have made it a more attractive market for homebuyers. While some states remained in lockdown for months, Florida Gov. Ron DeSantis permitted greatly reduced COVID measures. Weeks points out that this has been a big draw for those looking to relocate, especially businessowners. “ e thing businessowners want most is an opportunity to succeed,” he says. “In places where lockdowns were hard and fast, it’s di cult to imagine that businessowners felt they still had the same opportunities.”

Southwest Florida was highly attractive for those seeking to escape stringent lockdown measures, especially in places like New York and California. Combine relaxed pandemic restrictions with bene cial tax policies and incredible natural and lifestyle amenities, and it’s no wonder that the Naples real estate market consistently outpaces other markets across the nation.

Shelton Weeks

Nadia Evangelou

Michael Dalby

Deb Logan

READY, SET, FLOW

BY ROBIN F. DEMATTIA

hen season arrives, Naples is hopping with more people, more events, and, well, more of everything. That’s why many REALTORS® do a lot of planning during the slower months of the year. Preparing for season encompasses both business and personal affairs to ensure things run smoothly when it’s prime time to effectively seize the opportunity to generate the most income of the year.

Business Plan

“Take the time during the quieter months of summer to sit down and review your business plan and think about how you are going to adjust it,” says Kathy Zorn, broker-owner with Better Homes and Gardens Real Estate Pristine.

Zorn acknowledges that REALTORS® can be anxious waiting for customers to come back and trying to predict what will happen with market dynamics, such as interest rates. But, she says, having a plan means REALTORS® can build a buyer’s confidence and set their minds at ease.

Sandra Schlaupitz, team leader of Coastal Luxe Group Brokered by eXp Realty, takes a different approach. She doesn’t write her business plan until December, making it a 12-month plan for the upcoming calendar year rather than for season.

“I try to prepare my team not just for season but for the full year,” she explains, noting that she holds a weekly team meeting. “They need to understand that the market is not just the season.” Schlaupitz helps her team set an annual monetary goal, divide it up monthly, and then determine how many calls to make to reach their target.

Liz Koplitz, a REALTOR® with Royal Shell Real Estate, also takes a less formal approach. She says she writes up a goal sheet based on how much she wants to earn, determines the gross sales she needs to reach that, and then “keeps to the plan like it’s a Bible.” Her goal sheet is usually finalized by the end of October. “I prep all year long, so I don’t have a surge,” Koplitz says. “It’s less stressful because I’ve been pacing myself and it doesn’t get harder during other parts of the year.”

Real estate veterans share tips for preparing for season during the slow summer months

Liz Koplitz

Kathy Zorn

Database

Even with the best of plans, it takes customers to reach goals. Because former customers are great sources for new sales and referrals, reviewing your database is a good project for the slower months.

“I’m de nitely working on my database in the summer to make sure it’s updated,” says Nicola Wakelin, a REALTOR® with e Wakelin Team at John R. Wood Properties. A REALTOR® for 10 years, Wakelin ensures that customer contact information is correct, and she adds people she didn’t have time to during season.

Koplitz agrees that the database is an important tool but says analyzing it is just as critical. “People live and talk di erently, and we have to respect that. I talk to the executives I’ve known for 25 years a lot di erently than I do their kids,” she says. “I don’t send them the same message or try to sell them the same house. If you don’t know that distinction, you’re going to fail.”

Outreach

Once the database is cleaned up, it’s time to reach out to previous customers. “If someone bought nine or 10 years ago, they may be looking to downsize or upgrade,” says Zorn. “Maybe their children are looking to move down here to be closer to family.” Zorn cites a recent study by United Van Lines showing that 32 percent of Americans who moved did it to be closer to family.

Staying top-of-mind is the goal. “We are really, really good at networking and keeping in touch with everybody,” says Koplitz. She tracks birthdates and anniversaries and makes sure to acknowledge these special days with a phone call, email, text message, or card. “If someone’s dog dies, a card goes out in the mail and I make a telephone call,” she says.

Schlaupitz recommends that REALTORS® make calls from 9 a.m. to 11 a.m. on Monday through ursday year-round—but especially

Nicola Wakelin Sandra Schlaupitz

in the summer. “I’m very big into lead generation,” she says. “If you don’t have someone to call, pick up the phone and call your database.”

During the summer, Wakelin schedules lunches and dinners with previous customers and has gotten referrals from this networking. In December, she sends her customers a calendar for the next year that is designed by a local artist.

If a customer is going through a challenging time, Koplitz may send a care package with items such as soup, muffins, and teas. “They not only may need it, but they know I’m thinking of them,” Koplitz says. “We don’t leave our customers once the sale is over.”

Schlaupitz plans and holds community events to give back and generate leads. Her team’s annual back-to-school event last summer attracted 300 people. At Thanksgiving, her team gives pies to customers to thank them for their business. “You are successful because you are helping the community,” Schlaupitz says, “but you’re also creating people who will believe in you, and if they need a REALTOR®, they will reach out to you because you were there for them.”

Technology

There’s an endless array of cool apps and software designed to streamline communication with clients. Koplitz uses the customer-relationship management software Ace Media, based on a recommendation from her marketing firm.

Schlaupitz says she closed so many deals in the past year, she is looking for a system that will send a postcard when her customers have a birthday.

However, some REALTORS® opt for fewer gadgets.

“We have a lot of technology coming at us every day,” Zorn says. One REALTOR® in her office uses social media almost exclusively, she says, but other REALTORS® who have been in the business longer tend to make a phone call

or send handwritten notes. “It’s the good, oldfashioned personal touch and thoughtfulness that people are really craving these days,” she says.

Branding

This summer, Schlaupitz and her team updated their branding so all of them have the same background on their Facebook accounts and use the same signature line in their emails.

Wakelin spent this summer updating both her business and personal websites with a goal

Wakelin is taking Code of Ethics, Core Law, and Resort and Second-Home Property Specialist offered by NABOR®.

Schlaupitz reviews the upcoming NABOR® classes and asks members of her team to take refreshers or learn something new. She also shares NABOR®’s monthly statistics and information about the market with her team. This type of analysis allows REALTORS® to help buyers and sellers see the positives in the changing market and identify opportunities, which is important in lead generation. “It gets them educated with statistics, so it’s not only what you think—you have the data,” she says.

Personal Time

After Thanksgiving, Schlaupitz books inseason hair, nail, facial, and massage appointments.

“They are needs,” she says. “They are part of your business.”

Koplitz agrees that scheduling personal and medical appointments is important. “Nobody gets in the way of my nail or hair appointment,” she laughs, adding that she once went to a nail salon in a blizzard.

“You have to take care of yourself. What we do for a living is incredibly intense.”

of optimizing search engine hits.

Koplitz gets a new headshot taken every couple of years. “I don’t want to be that REALTOR® who looks like a totally different person when the customer shows up,” she laughs.

She also fills her wardrobe with new items that range from casual to formal. “I do have luxury clients and even if they look like they just came off the beach, I can’t.” Schlaupitz also culls her wardrobe prior to season.

Education

Many REALTORS® use the summer months to pursue required or interesting continuing education classes.

Schlaupitz makes sure her calendar has the birthdates and vacation plans for her family members, so she won’t forget the most important people in her life.

Wakelin takes advantage of the slower months to spend time with family and do activities she enjoys, such as golf. “I try to work a little bit less and take time to recharge my batteries, so I’m ready for season,” she says.

It’s important to avoid a feeling of panic that can beset REALTORS® who worry that they might not make money during the summer months. “I try to be calm and reassure myself that it’s the normal state of affairs” in Southwest Florida, she says. “Things slow down during the summer and things will pick up in October as they always do.”

Rich Coast

Costa Rica doesn’t have an MLS and there are no real estate licensing requirements—anyone with legal residency can sell property. Yet, this tiny Central American country—renowned for its natural beauty and beaches along the Caribbean Sea and Paci c Ocean—is the fourth leading foreign market for Americans buying vacation and retirement homes. It’s a democracy that dissolved its military nearly 75 years ago, boasts a 97 percent literacy rate, and is approaching 100 percent reliance on renewable energy.

BY NANCI THEORET

“Everyone wants a piece of Costa Rica,” says Carol Kairis, who served as the National Association of REALTORS® (NAR) director of professional development and global business for 17 years.

Members benefit from NABOR ® ’s leadership as the NAR Ambassador Association to Costa Rica

Naples Area Board of REALTORS® (NABOR®) has been NAR’s Ambassador Association to Costa Rica since 2018. “Our partnership is very important to us and is a priority we take seriously,” says NABOR® CEO Marty Manion, the NAR-appointed ambassador to Costa Rica. “We have made a commitment to Costa Rica to foster business and promote global real estate, trends, and the culture. Our primary goal is to learn from each other.”

NABOR® shares best practices with its Costa Rican colleagues, o ering guidance on ethics, professional standards, and developing real estate licensing requirements. “ e appointment was a big feather in our cap,” says Brett Brown, 2009 NABOR® President and Global Business Committee Vice Chair. “NABOR® has created such a great relationship with Costa Rica. Our job is to respond to them and help with whatever they need to create best business practices in real estate.”

NABOR® works closely with the Costa Rica Global Association of REALTORS® and the Costa Rican Chamber of Real Estate Brokers. All members abide by NAR’s Code of Ethics and joined NAR as international REALTOR® members following NABOR®’s inaugural 2018 visit and its presentation on the value of the REALTOR® brand. “Folks outside the U.S. value the REALTOR®,” says Kairis, a certi ed international property specialist (CIPS).

NAR’s Global Alliance Program pairs more than 100 real estate organizations in 76 countries with Ambassador Associations. “Ambassador Associations facilitate the wants and needs of a country on behalf of NAR,” says Kairis. “ is is an important and prestigious position awarded to NABOR®.”

As Costa Rica’s Ambassador Association, NABOR® coordinates connections and communication with other boards of REALTORS® and hosts Costa Rican delegations. It emphasizes education and the importance of understanding an international destination’s laws governing real estate transactions as well as opportunities to earn advanced credentials such as a CIPS designation for both American and Costa Rican agents.

“One of the initial concerns in Costa Rica was REALTORS® in the U.S. listing homes in Costa Rica,” Brown says. “To sell real estate in Costa Rica, you must be a resident and live there at least six months. NABOR® is helping Costa Ricans understand how to work with agents in Costa Rica and what they need to do to refer business there without an MLS. ere’s a perception NABOR® members are going to get referrals from Costa Rica. However, they are more likely to generate referrals to Costa Rica.”

Commissions are subject to Costa Rica’s value-added tax. “It’s important for NABOR® members to seek out either a CIPS designee or an international member of NAR in Costa Rica to do referral business,” says Kairis.

As part of its 12-day trade mission to Costa Rica that was held in September 2022, NABOR® o ered CIPS coursework. “I always encourage REALTORS® to take a course somewhere else because of the networking opportunities,” says Brown. “Costa Rica is a beautiful country with a pura vida lifestyle that translates to pure light.”

Earning CIPS designation requires ve days of comprehensive training. Brown, a CIPS instructor, says the designation reduces risks for real estate companies and the potential of violating NAR’s Code of Ethics against practicing outside of one’s realm of expertise.

“Costa Rica is one of the most sought-after partnerships in the Ambassador Association program,” says Global Business Committee Chair B.J. Cottrell. “Our partnership with Costa Rica creates a gateway to educate and establish international relationships.”

Educating members about selling real estate to international buyers is the main objective of NABOR®’s Global Business Committee. It promotes CIPS credentials, which are particularly bene cial considering Florida’s status as the top U.S. real estate market for global buyers.

B.J. Cottrell

Carol Kairis

Brett Brown

BUILDING YOUR REFERRAL NETWORK

Five tips to get results

BY GINA BIRCH

Building a referral network is an essential part of every type of business, but it’s especially important in the real estate industry. On the surface, networking can seem easy, but to build a strong, sustainable network requires effort. It may be more challenging for some—and there’s no one-size-fits-all solution for success.

Victor Asencio, managing broker for John R. Wood Properties, says there really is no secret sauce when it comes to creating a strong referral network. However, there are some basic practices that can help.

Create a Database

It is nearly impossible to remember every person you meet in a week, especially over the course of months and years. This is where creating a database is essential. It’s a basic organizational tool that can be attacked in several ways— from high tech to old school.

“I’ve seen people use 3x5 index cards,” Asencio says. “They work just as well for organization.” However, he says 75 percent of REALTORS® use some form of database. It can be as basic as an Excel spreadsheet or extensive as a program or app with tools that can generate detailed reports, appointment reminders, and much more.

Be Consistent

“Building a network is a discipline,” according to Asencio. “Creating good habits and being consistent can build the results that agents are looking for.”

For instance, he suggests allocating a certain amount of time every day to nurturing relationships. Asencio routinely dedicates the first part of his morning to reaching out to people he has met by calling or emailing them. Time should also be set aside to focus on marketing, whether it’s sending out postcards or creating social media content.

Take Advantage of Social Media

If you are not using social media, you are missing an opportunity, according to Shannon Livingston, account executive for Old Republic Home Protection.

She has created “Livingston Live,” a Facebook segment where she interviews people working in all areas of the real estate business. During these live chats, she asks about her guests’ businesses and plays a game to get to know her guests on a more personal level. “I do this because people do business with people they know, like, and trust,” she explains. This also provides content for her guests to share on their social media platforms.

If the thought of recording videos or going live on social media makes you nervous, Livingston says, reconsider. “You don’t need lighting or production,” she says. “People just want to hear what you have to say.”

Shannon Livingston

Build Relationships

Both Asencio and Livingston agree that building relationships is at the heart of building a referral network that will eventually lead to success in business.

You engage with people every day, from picking up dry cleaning to grocery shopping. “You just never know who you are going to click with,” Asencio says, adding, “Do not only look for a particular demographic or type of customer. You must be open to talk to anyone about everything and then stay in touch.”

Many contacts are made at social, sporting, cultural, and community events. While that is a start, following up is essential. “I invite them for coffee and get to know them better so I know what opportunities might fit when they come my way. I really think that is a better way to do business,” Livingston says.

When following up, she cautions, “The biggest mistake you can make is talking instead of listening.” Not everyone needs a REALTOR®, a home warranty, or any of the other piece of the real estate purchasing puzzle. “You must know what the other person’s business is to know if they need what you have to offer,” she says. “You really have to listen first.”

Embrace Your Competitors

Networking is more than meeting potential clients. It’s just as important to network with colleagues, even those you might consider competitors.

“Not everyone can be everything to everyone,” Livingston says. “The more you are able to connect to others who do what you do, the better off everybody will be.”

She explains that collaborating as a community— sharing information and knowledge—can help some REALTORS® serve their customers better. It can also lead to referrals if you are unable to attend to the special needs of a particular buyer but know a colleague who has the time or specialty. The mentality of working together lifts the industry as a whole.

“Keep at it,” Asencio advises. “Sometimes, our work yields results right away. Sometimes, it takes a year or more. Our job is to be in front—top of mind—so when someone needs us, we are the ones they reach out to.”

Victor J. Asencio

When to get a coach STUCK IN A RUT?

BY CATHY CHESTNUT

Have the past two years been the highest generating in your real estate career? Do you feel like you’re on Easy Street? Or are you dreading market changes and tackling season?

Have you ever considered hiring a business coach to help you increase your revenue or ferret out the upsides of a downturn?

According to Becky Colburn, founder of Becky Colburn Real Estate Coaching, “every real estate agent should have some coaching to help them stay focused and grow their business.”

Colburn says there are two main reasons people reach out to her: to make more money or nd more personal time. “ ey might be working seven days a week and not seeing results. ey feel stuck,” she says. “ at’s when you should reach out to a coach to get out of the rut and move forward.”

Coaches help clients better manage or leverage the resources they have at their ngertips, such as customer relationship and calendar management systems, and new technology, or should hire, such as assistants and agents. ey help clients nd blind spots, increase accountability, and analyze “the stories they tell themselves,” says Colburn.

What type of stories? at they don’t like listing or reaching out to customers with expired listings, aren’t good at networking, or other shaky excuses for not reaching their potential. “It’s getting them to acknowledge that they have work to do,” she says. “ at is the No. 1 inhibitor of growth—the stories people tell themselves that limit opportunity in any business, especially in real estate.”

WHAT TO EXPECT

Both Colburn and Dave McGhee, vice president of coaching of Bu ni & Company, agree on several topics:

∙ ey don’t work with brand-new REALTORS® who are just starting out, but those who have been in the industry for a couple of years and understand their own strengths, challenges, and goals.

∙

Training, mentoring, and coaching are di erent. Taking classes and seminars to expand knowledge, skills, and certi cations is training. McGhee says a mentor is “someone who’s done something for a long time and you’re tapping into their historical perspective.” It’s time for coaching if “you feel like you’re not tapping into your full potential. Coaching helps you tap into your potential to improve your performance.”

Adds Colburn: “Coaching is behavior modi cation—changing behavior for the long term—and that takes time.”

∙ A coach will help you reset your mindset. Independent REALTORS® who are successful and grow a team have transitioned from a solo workforce to a small businessowner—which requires an entrepreneurial mindset. “It’s a completely di erent mindset,” says Colburn. McGhee adds that it could be time to hit reset on one’s state of mind. “ ey may be burnt-out a little bit and want to ignite their passion.”

∙

Expect to work with a coach for a few months or several years. “Coaching is about drawing out potential,” says McGhee. “When you increase your potential, you see you have more potential to tap into.”

Despite what you’re paying or how long you are being coached, you should see your bottom line improve.

Dave McGhee

Becky Colburn

…is NABOR ® ’s business GROWING YOUR BUSINESS…

The Naples Area Board of REALTORS® exists for you.

Since 1949, NABOR ® has been the go-to resource for residential and commercial brokers, sales agents, property managers, appraisers, mortgage brokers, bankers, developers, title officers, and other professionals engaged in the real estate industry in the Naples area.

NABOR® has been here to help members through market highs and lows—during and after recessions, real estate booms, and hurricanes. For the past few years, NABOR® has continued to work diligently to help its 7,500-plus members weather the challenges wrought by the COVID pandemic and navigate the unprecedented real estate market that arrived in its wake.

Today, NABOR® is more robust than ever. Since the

pandemic unfolded in March 2020, NABOR® has revamped its headquarters, integrated MLS enhancements, and created and expanded virtual and in-person education opportunities for members. The new NABOR® logo was unveiled at a tropicalthemed reveal party on September 14, held to present the association’s evolution and renewed vision.

“We’re excited about the future,” says Corey McCloskey, Director and 2021 President. “There are a lot of new member benefits coming, and we’re planning member appreciation events that will be super unique.”

The new logo is an “upscale version” of the previous logo, McCloskey says, adding that the font is clean and modern and the shell “is a symbol for home.” The colors represent the Gulf of Mexico waters and a Naples sunset, she adds.

NABOR® Director Terrilyn VanGorder says the board is “excited to bring a more modern and vibrant logo, marketing plan, and key member events for our 7,500-plus members.”

What NABOR® is doing for you:

Largest Local Professional Network

Made up of Allied and Affiliate members.

Political Advocacy

We protect your livelihood and future income through REALTORS® Political Action Committee (RPAC).

Education/Training/Classes

We elevate your skills, proficiency, knowledge, and profits.

Legal Resources

We provide access to legal advice.

Market Data

We are your source for accurate market data and statistics.

Professionalism

We support ethical standards that work.

MLS

We provide you with reliable market data 24/7.

REALTOR® Store/Supra

We supply the products you need.

Special Market Opportunities

We provide smart ways to expand your business through the NABOR Global Network®, Commercial Committee, Young Professionals Network, and the CIPS designation.

NABOR® Committees

We give you the opportunity to make an impact on NABOR®.

Leadership Academy

We nurture the leader in you.

naplesarea.com

We provide a universe of viewers for your listings and profile.

Excited? You bet! Turn the pages to read about how this magazine and NABOR® videos are connecting members to inside information, education, and professional opportunities to grow your business.

IT’S IN YOUR HANDS

BY KAREN FELDMAN

The Naples Area Board of REALTORS® magazine isn’t just a pretty publication about local real estate. Naples REALTOR® also is a valuable tool for upping your game in this competitive market. e quarterly magazine provides a wealth of information that assists REALTORS® in staying current on regulations, hot-button issues, trends, and more.

“Our magazine is a great resource,” says NABOR® Director Paula Angelopoulos Urbinati.

Market statistics, what’s happening on the state and national real estate scenes, banking requirements, and the latest information on the local market are important and useful components of each issue. A recent edition covered a proposed federal rule that would expand reporting on all-cash real estate transactions; state and federal programs that help veterans, rst responders, teachers, and medical personnel buy homes in Florida’s tough markets; the legal rami cations of backing out of a purchasing agreement; and interesting insider highlights of the local dining scene, landmarks, and natural amenities.

Achievements of NABOR® members, important legal issues involving all facets of real property transactions, and the ever-changing state of the market are covered as well.

“We always have an important message from the president,” Urbinati says, “which is nice because they give a synopsis of where we’ve been and events that have happened.

And we always have at least one developer advertising some type of development” which helps keep members up-to-date on new developments as they take shape.

Important aspects of each issue, she says, are MLS updates and the REALTOR® Code of Ethics. “We publish information regarding professionalism. Our feature stories focus on relevant topics of value to members.”

Committee spotlights keep members informed on the work that the board’s

volunteers are doing to serve members.

Given the quickly shifting market, having this resource helps agents keep pace with changes and access resources and tools that help them work smarter and generally do their jobs more e ectively. And it also shows the fun side of the profession and ways to network through social and community events.

To review current and past issues of Naples REALTOR®, visit NABOR.com and click on REALTOR® TOOLS.

Use Naples REALTOR ® magazine to hone your professional skills

E. Wright

IN TO NABOR®

A

BY KAREN FELDMAN

All videos are produced to help members stay informed about the market, regulations, MLS, technology, legal updates, events, information about the Naples area, and changes in the real estate industry. Join the NABOR® Facebook Group to be well-informed.

“Education is the key to professionalism,” says Adam Vellano, chair of the NABOR® Professional Development Committee. He believes that “the more

educated members are, the more professional they are.”

Professional Development Committee Vice Chair Rick Baranski, Director of Professional Development Michelle McKenna, and committee members were instrumental in getting the educational video programs up and running.

Unlike continuing education classes that are held in person or via Zoom, there’s no credit awarded for the live-streamed classes.

When NABOR® members join the private NABOR ® Facebook Group at facebook.com/groups/nabormember, they will be notified when there are live classes being streamed on Facebook. Videos can be accessed at naborvideos.com.

INTERFERENCE IN AN EXCLUSIVE LISTING AGREEMENT

BY CORIE CHASE, NABOR® CHIEF ADMINISTRATIVE OFFICER

Dear Corie:

I am currently in an exclusive listing agreement with Mrs. Jones to sell her home at 123 Sunshine Way.

Due to health issues, Mrs. Jones has decided to move into an assisted living facility and contacted me to list the property. We collectively met to review the details of the listing and an exclusive listing agreement was signed. Mrs. Jones is on a wait list for the facility and, therefore, she will remain in her home until the facility option comes to fruition.

After numerous showings and offers for the property, I received a call from REALTOR® Carl who said he was contacted by Mrs. Jones. According to REALTOR® Carl, Mrs. Jones supposedly asked him for assistance in obtaining a copy of the current listing agreement that she has with my brokerage because she wanted to cancel it and list the property through REALTOR® Carl.

During this conversation, REALTOR® Carl demanded that I provide him with a copy of the fully executed listing agreement along with an explanation as to the status of this property including details of all showings and offers to date. REALTOR® Carl also emailed my broker demanding the same information. After this initial interaction, there were other unpleasant interactions with REALTOR® Carl, including an offer to pay me a sum of money if I agreed to terminate the listing and walk away, which I refused to do.

I explained to REALTOR® Carl that he was interfering with a contractual relationship that I have with Mrs. Jones. His response was consistently that he was trying to help Mrs. Jones as a friend, not as a REALTOR®. This behavior is a blatant disregard for Article 16 of the REALTOR® Code of Ethics and I am prepared to file an ethics complaint. Please send me the necessary paperwork to file!

Dear Member:

It is difficult to understand REALTOR® Carl’s actions in light of the Code of Ethics. As you know, Article 16 of the Code prohibits REALTORS® from engaging in any practice or taking any action inconsistent with an exclusive representation or exclusive brokerage relationship agreement that another REALTOR® has with a client. You have noted in your summary that you had a fully executed exclusive listing agreement. There are a few points to consider.

Initially, Standard of Practice 16-4 requires that a REALTOR® shall not solicit a listing that is currently listed exclusively with

another broker. However, note such Standard of Practice provides that if a listing broker, when asked by a Realtor®, refuses to disclose the expiration date and nature of such listing (i.e. whether it is an exclusive right to sell), the Realtor® may contact the owner to secure such information and may discuss the terms upon which the Realtor® might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing. Additionally, Standard of Practice 16-9, requires REALTORS®, prior to entering into a representation agreement, to have an affirmative obligation to make reasonable efforts to determine whether the prospect is subject to a current, valid, exclusive agreement to provide the same type of real estate service.

It seems that REALTOR® Carl knew that Mrs. Jones was currently in an exclusive contractual relationship with another REALTOR®. I think you will agree that at the moment he became aware of such a contractual relationship, the best course of action would have been to refer Mrs. Jones back to you citing his obligation under Article 16 of the Code instead of engaging in any interference. Alternatively, when contacted by Mrs. Jones, REALTOR® Carl could have discussed the terms upon which they might enter into a future agreement to provide the same type of service effective upon the expiration of your existing listing agreement consistent with Standard of Practice 16-6. Or, as another alternative, REALTOR® Carl and Mrs. Jones could have discussed a different type of real estate service unrelated to the type of service currently being provided by you. Standard of Practice 16-3 provides that Article 16 does not preclude Realtors® from contacting the client of another broker for the purpose of offering to provide or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided.

In my experience, the defense that “I was only trying to help as a friend and not as a REALTOR®” is rarely, if ever, a viable defense in ethics hearings related to Article 16.

Have a question? Contact Corie Chase, NABOR® Chief Administrative Officer, at (239) 597-1666 or corie@nabor.com.

Become a market expert by understanding key indicators Knowledge is Power

BY NANCI THEORET

Bill Co ey remembers spending countless hours sifting through multiple listing service (MLS) data for insight into local real estate market trends he could share with customers.

“We didn’t have nearly the information we have today,” says Co ey, broker-manager for Amerivest Realty. “We had to dig through MLS to see what sold, what was for sale, and who the competition was. Now, Naples Board of REALTORS® (NABOR®) does that for us. It saves time and makes it easy for agents.”

Key market indicators—everything from closed and pending sales and months’ supply of inventory—are readily available, provided in monthly NABOR® market reports that are accessible 24/7 through the Matrix Stats menu and InfoSparks on the Matrix homepage. e statistics give members an in-depth snapshot of the Southwest Florida real estate market and a sense of where it’s heading. Understanding these indicators helps REALTORS® become market experts who can better serve their customers, which is crucial in this dynamic industry.

“I tell agents it’s very important to know what data points to look at when working with sellers and buyers,” says Molly Lane, senior vice president and general manager of William Raveis Real Estate Florida. “All the data an agent needs are available through MLS. e only thing we don’t have is a crystal ball.”

Using these tools, REALTORS® can customize housing market reports comparing key metrics based on ZIP code—even waterfront properties and recent showings— and personalize infographics to share with customers. e platforms provide monthly, year-to-year, and historical data, including closed and pending sales, which re ect the number of properties with an accepted written contract.

“Newly pended sales are leading edge,” says Mike Dodge, the director of education and market research for John R. Wood Properties, who combs through newly written contracts each week. “ ey indicate mood-of-themarket decisions that were just made. If you look at closed sales, the decision leading to that sale occurred, on average, 52 days before.”

Know the Numbers

Inventory—the number of for-sale homes with active status at the end of a month— provides the basis for determining months’ supply of inventory, or absorption rate. As an important market metric, months’ supply indicates how long it will take existing inventory to sell given the current sales pace. Calculated by dividing current end-of-month inventory by average monthly total sales from the last 12 months, it re ects supply and demand and is a good reference for establishing pricing.

Historically, a six-month supply is considered a market with a moderate price appreciation, according to the National Association of REALTORS®. Supply below that threshold tends to drive up prices more rapidly, as the Naples area experienced during 18 months of unprecedented sales and skyrocketing home prices from late 2020 to early 2022.

While there’s truth behind the numbers, local experts caution that statistics don’t paint the entire picture, advising agents to compare present-day metrics to data from years preceding the global pandemic. For example, days on the market—the median and average number of days from a property’s active listing to acceptance of an o er—were an anomaly in 2021. “Some homes were on the market ve days. Now, some are 30 to 50 days and agents are getting nervous,” says Lane, noting that, in some cases, too much time on the market

could indicate a home is overpriced.

Adds Dodge: “For anyone working with year-to-date sales data, the numbers seem scary, like the market’s in an absolute freefall. It’s been an incredible market over the last couple of years, possibly the biggest real estate boom in history. e pace of sales in today’s market is closer to normal, back to preCOVID days.”

Other key market indicators are available only after nal sales. Median closed sales represent the midway price point between homes which sold for more and those that sold for less. Combined with days on the market, recent closed sale prices help

REALTORS® provide realistic expectations for both sellers and buyers, says Coffey.

“The median sold price increased by over 40 percent in a year, 10 percent between October 2021 and November 2021, and for a while there was less than a months’ supply,” he says. “This is important to understand in a market that’s changing so fast. We can advise buyers on sales prices and how fast homes are selling in the area they’re interested in. When you meet with sellers about a listing, you know what’s going on in their particular market, what’s selling, and what their home should be listed for.”

The percentage of current list price received also buoys expectations and market confidence.

It’s factored by dividing a property’s sales price by its most recent list price, then taking the average or median of all sold listings in a month. Cash versus financed sales represent the percent of homes purchased with cash, which during the height of the fast-paced market gave buyers leverage in multiple-offer scenarios and sellers the peace of mind in knowing a cashbacked sale was less likely to fall through.

“Our biggest job as agents is to provide guidance to buyers and sellers,” says Coffey. “A good agent knows what’s going on in the market and can help their customers make good decisions. The more information an agent has, the more guidance they can give.”

“All the data an agent needs are available through MLS. The only thing we don’t have is a crystal ball,” says Molly Lane, senior vice president and general manager of William Raveis Real Estate Florida

PUBLIC POLICY WINS

BY DICK HOGAN

From the statewide business rent tax to local issues like short-term vacation rentals in Collier County, the REALTORS® Political Action Committee (RPAC) works to improve public policy that impacts real property across a broad range of issues.

Former Florida PAC Trustee Chairman Bill Poteet, who represented District 5 for six years, says all property-related issues are important to him. e owner-broker of Poteet Properties in Naples says one of his favorite recent public policy wins by RPAC was getting the business rent tax reduced from 5.5 percent to a low of 2 percent. RPAC and Florida Realtors® were able to champion this issue on behalf of commercial property owners and their tenants.

e law that passed the business rent tax requires out-of-state retailers to collect and remit sales taxes on purchases made by Floridians, producing an estimated $1 billion a year in revenue. is new revenue will be used to replenish Florida’s Unemployment

Compensation Trust Fund. Once the fund is replenished, the business rent tax will be reduced to 2 percent, saving commercial tenants an estimated $1.23 billion annually.

RPAC allows REALTORS® to successfully engage on important issues to property owners, renters and tenants, and the REALTOR® community on a local, statewide, and national scale. For REALTORS® who focus on residential rental properties, “short-term rentals were a huge issue,” Poteet says.

Some of the issues supported by RPAC don’t directly a ect the real estate industry but are intended to strengthen local communities.

For instance, the Hometown Heroes Housing Program approved during the 2022 Legislative Session provides reduced upfront costs for rst-time buyers in 50-plus careers deemed essential to communities’ health, education, and safety, including teachers, nurses, re ghters, police o cers, and emergency medical personnel. e $100

2021 SUCCESSES

Here are some of the 2021 legislative actions supported by RPAC:

Unlicensed activity: The legislature allocated up to $500,000 to combat unlicensed real estate activity.

Community association improvements: REALTORS® and other essential workers now have the access needed to sell or lease condominiums and homeowners association properties, even during a declared state of emergency. The legislation also contains a $150 transfer fee cap and allows community associations to stop discriminatory restrictions.

Limiting impact fees: Increases will be limited for impact fees, which local governments may collect for new construction to help pay for growth-related costs. The bill prevents impact fees from being increased more o ten than every four years and caps the increases at 50 percent.

Combating sea level rise: Senate Bill 1954 created the Resilient Florida Grant Program within the Florida Department of Environmental Protection (DEP) to provide grants to local governments for resilience planning, data collection, and adaptation projects, which will be sequenced through a statewide plan. Additionally, the bill assigns the University of South Florida to lead research and innovation regarding flooding and sea-level rise for the state.

Protections for home-based businesses: House Bill 403 ensures that local governments may not treat a home-based business di erently than other businesses. It also allows any adversely a ected home-based businessowner to challenge local government actions regulating home-based businesses, with the prevailing party potentially recovering reasonable attorney costs.

Each year, the REALTORS ® Political Action Committee scrutinizes the impact of state and local legislation that affects real property

million for this statewide program became available on July 1, 2022. (See page 14 for a deeper look at this program.)

Its e ects are sure to be felt locally. “We have people who work for the City of Naples and in Collier County government central services positions who drive down from Lehigh Acres (in Lee County) every day,” Poteet says.

Another piece of legislation supported

by RPAC that passed this spring provides sales tax relief to homeowners to harden their homes from storms. “ e more we harden homes, the less we get in insurance claims—and that will break down the cost of insurance in the state,” he says. “Ultimately, what we’re trying to do is get to a point where our premiums don’t continue to escalate to the point where they’re out of control and people

can’t a ord them.”

RPAC often works directly with legislators on speci c proposals but sometimes a broader approach is most e ective, Poteet says. “Florida Realtors® has 230,000 members and those numbers talk,” he says. “Five percent of our members can send out emails or texts in one day and catch the eye of all the legislators. It’s an e ective tool.”

Committee Spotlight:

Magazine Committee

Paula Angelopoulos Urbinati, Director; Marcia Albert, Director of Marketing; Mary Waller, Chair and Director; Liz Koplitz; Patricia Asencio; Paula King

Not Pictured: Chris Capron, Gwen DavisGideon, Karen Mckay Jefferys

Community Involvement Committee

The Community Involvement Committee engages in activities that will benefit the community and the members who participate, and raise the community’s consciousness about NABOR® as a “good neighbor.” The committee coordinates events that include the St. Patrick’s Day Parade, Family Fun Day, Roll and Bowl, Back-to-School Supply Drive, Fall Food Drive, Trunk or Treat, Christmas Gift Drive, and Bingo Night, among others.

Proceeds are donated to charitable organizations.

Chair: Gretchen Shelton

Vice Chair: Nancy Bjork

Staff Liaisons: Taiana Londoño, Allisson Gonzalez

Front: Corey McCloskey, President 2021; Mary Beth Puzio; Spencer Rigsby; Debbie Zvibleman; Nancy Bjork, Vice Chair; Gretchen Shelton, Chair; Taiana Londoño, Staff Liaison; Allisson Gonzalez, Staff Liaison; Mary Kay Dedousis; Andrew Occhipinti; Jessica Loy

Back: Jillian Young; Eric Nagel; Natalie Ramberg; Heather Haynes; Mike Hughes, President 2015; Juan Hernandez

Not present: Alicia Beltran, Bernard Faithful, Claudia Cruz Sotolongo, David Antis, Larry Utterback, Oksana Sherman, Patty McClimans, Stephanie Rosenblum, Toni Allia

2

Politics in the Park

June 9 • Naples Area Board of REALTORS®

1. Danielle Hudson, Vice President of Public Policy NABOR®; Rob Stoneburner, Collier County Tax Collector; Amelia Vasquez, CBIA Executive Officer; Penny Taylor, Collier County Commissioner; Matt Sellick, CBIA President; Marty Manion, NABOR® Chief Executive Officer; Ryan Benson, A. Vernon Allen Builder; Orlandy Godines, Collier County Supervisor of Elections Outreach Coordinator 2. Daija Hinojosa, Ashley Jenkins

3. Wyan Martin, Patrick Dearborn, Andrea Noyes

Kevin R. Lottes

Real Estate Corporate 239-552-4114

9132 Strada Place Suite 207 Naples, Florida Kevin@LottesLaw.com 239-552-4178 (Fax)

A Florida Bar Board Certified Specialist in Real Estate Law, Kevin Lottes is proud to be named in the Best Lawyers in America for the eleventh year in a row. He credits these honors to his unwavering commitment to excellent client service.

Let’s Clean Up Florida’s Waters

The hiring of a lawyer is an important decision that should not be based solely on advertisement.

Before you decide, please visit our website at www.lotteslaw.com to read about our qualifications and experience.

1. Olga Clemente, Danielle Richards

2. Debbie Zvibleman 3. Back row: Gretchen Shelton, Chair, Community Involvement; Corey McCloskey, President 2021; Taiana Londoño, NABOR®Store Manager Front row: Jessica Loy; Viridiana Martinez; Sara Brand; Allisson Gonzalez, MLS Support Specialist; Jillian Young; Loni Atton; Kimberly Vargas

1 3

July 7 • Cocohatchee River Park Marina

RPAC Legislative Recap

Naples

1. Nick Bobzien, President Elect; Paula Angelopoulos Urbinati, Director; Kathleen Passidomo, Florida State Senator, District 28; Bill Poteet, President 2012

2. PJ Smith, Treasurer; EB Yarnell; Lauren Melo, Florida State Representative, District 80; Debbie Zalewski

Back-to-School

NABOR® Magazine Committee

Naples REALTOR® is the o cial magazine of the Naples Area Board of REALTORS® Association, published to educate and inform the Naples Area Board of REALTORS® members of association news and events, local real estate trends and data, business and legal issues, industry initiatives, and member achievements. The goal of the NABOR® Magazine Committee is to provide members with information that may contribute to the success of their businesses as well as the development of their professional careers. The quarterly publication is produced through collaboration between a core group of volunteers and professionals.

Committee: Patricia Asencio, Paula Angelopoulos Urbinati, Chris Capon, Gwen Davis-Gideon, Karen Mckay Je erys, Paula King, Elizabeth Grace Koplitz, Mary Waller, Chair

Mary Waller, NABOR® Magazine Committee Chair and NABOR® Director; Karla Monterrosa-Yancy, Florida Magazine Association President; Marcia Albert, NABOR® Director of Marketing

The Florida Magazine Association held its annual Charlie Awards ceremony in Ponte Vedra Beach on August 5, recognizing dozens of top Sunshine State publications for excellence in writing, design, photography, and more. Naples REALTOR® magazine took home the following two awards in writing and design excellence:

• Writing Excellence: Bronze

• Design Excellence: Silver

Congratulations to the NABOR® Magazine Committee and all the members who contributed to the magazine. NABOR® is very proud of our award-winning publication!

Young Professionals Network

1.

Coffee Roasters

Florida Realtors® Annual Awards

August 24-28 • Orlando

Three prestigious awards were presented by Florida Realtors® to the following NABOR® members at the Florida Realtors® Convention & Trade Expo: Allisa Pipes, Newcomer of the Year; Kat Villamizar, Humanitarian of the Year; Gwen Davis-Gideon, Education Volunteer of the Year.

Congratulations to the winners! NABOR® is proud of you and your accomplishments!

Meet New NABOR® Faces

Administrative assistant Ann Mazzei is a newcomer who relocated to Lee County with her husband, Michael, in December 2020. They have five children and eight grandchildren. Mazzei was born and raised in the suburbs of Philadelphia and earned her bachelor’s degree in sociology from Ohio Wesleyan University. “The best part of my job at NABOR® is that not only do I get to interact with our members over the phone helping them with all their Supra needs, but I also assist in the NABOR® REALTOR® Store so I get to meet them in person as well,” Mazzei says. “It’s always nice to be able to put a name with a face!”

Education administrator Jeanette O’Neill worked for more than two decades with Fidelity Investments. After moving to Naples eight years ago, she obtained her real estate license and is happy to work with staff and members. “We have so many talented people working at NABOR®,” says O’Neill. The best part of her job “is getting to know our members and helping them with their education needs. I am a people person, so I love meeting new folks and building solid relationships.”

Zamira Collado is a membership administrator who has worked in the industry for five years. Originally from the Dominican Republic, Collado has lived in Naples for 10 years with her husband and two children. She is fluent in Spanish and enjoys gardening, painting, and cooking. “The best part about my job is meeting new agents,” she says, “and seeing their happy faces when I tell them ‘You can now call yourself a REALTOR®.’”

Revs Institute is a rare community jewel HISTORY IN MOTION

Unlike art and history museums, there aren’t many communities that can boast of a cultural asset like Revs Institute. But they can’t claim to be the home of Miles C. Collier either. His father Miles and his uncle, Sam, were among the rst Americans to race at Le Mans and are recognized for bringing auto racing to the United States in the 1930s.

Revs Institute houses 113 cars carefully selected for historical importance, rarity, technical innovation, aesthetics, and social signi cance from the Miles Collier Collections. All the vehicles are operational—even the ones that are more than 100 years old—and they are sometimes used for historical races and reenactments. Collier opened the modern-designed Revs Institute in 2008, not only to share his invaluable showcase, but to establish a world-class research institute that now holds the largest archives of automotive history. Also on display: one-of-a-kind hood ornaments popular at the dawn of motoring.

Revs Institute is open Tuesdays, ursdays, and Saturdays from 10 a.m. to 4 p.m. Visitors must purchase tickets online in advance. Options include informative and colorful docent-led tours. No walk-up visitors will be accommodated. (revsinstitute.org)

LOCAL SCENE

A 1948 Ferrari 166 Corsa Spider and a 1935 MG PA/PB “Leonidis” on display in the museum. Below: The Indian Chief hood ornament, called a mascot, was popular in the 1920s and 1930s. This one is part of Revs Institute’s permanent collection.

INSTITUTE

© 2022 BY KLEIN HOLLAND LLC DUTCHKINZ

Naples-area food trucks serve up international fare with flair ON THE GO DINING SCENE

Food trucks have exploded in popularity and expanded in scope. In addition to burgers, barbecue, and ice cream, it’s not unusual to nd curry or gyros at your favorite mobile eatery. Following is a taste of some of the most popular local food trucks o ering international avors.

DUTCHKINZ

Sebastian Hermans grew up in the southern Netherlands and came to the States in 2001. After falling in love with Naples, he decided to share the sweet side of his food heritage, and began testing recipes in 2010 before launching his truck.

Dutchkinz has developed a loyal following at local farmers markets, hotels, and country clubs. He specializes in Dutch beignets stu ed with fresh apple slices or Swiss chocolate as well as po ertjes or “Po ers”—bite-sized, pu ed-up beignets served with powdered sugar and butter. To accompany them, he serves his proprietary blend of co ee, made with beans ground to his speci cations by a local roaster. Everything is freshly made onboard. “My passion is sharing my heritage with people,” he says. (dutchkinz.com)

FIRE & RICE PAELLA

For chef Paul Schmidgall, the romance began on the island of Menorca in Spain as he watched a practiced elder prepare paella on Sundays. “She didn’t speak English and I spoke no Spanish, but I watched how she applied the ingredients in layers. I was fascinated by the colors and avors, and most of all by her passion for the dish,” he recalls.

After graduating from the Johnson & Wales University culinary school, his obsession with paella eventually morphed into a full-time job, and he launched his rst food truck in 2014. Schmidgall sets up at the ird Street South and Marco Island farmers markets; he also o ers catering options for businesses and private homes. His repertoire includes a range of tapas and three paella variations. He has successfully franchised the concept to other cities and states. ( reandrice.us)

COPYRIGHT

DECCANI BITES

A food truck is traditionally a stepping-stone to a brick-and-mortar restaurant, but chef Asif Syed reversed the process. Following the success of 21 Spices, he launched Deccani Bites last November in Celebration Park. Although his wide-ranging menu incorporates dishes from all over the Indian subcontinent, the inspiration was his home region of the Deccan Plateau.

“My goal was to capture the street food of India,” says Syed, “and most of all I wanted to recreate the food I loved growing up—slow-cooked lamb, tandoori chicken, and a wide variety of chutneys. Our most popular dessert is the Rose Kulfee Pop, a rose-flavored chocolate pop that reminds me of the ice cream I ate as a child.”

The centerpiece of his menu is homemade bread that he makes every day. In addition to the traditional naan, he specializes in roti, a crisp and flaky flatbread with a layer of butter that he likens to a flat croissant. (deccanibites.com)

I LOVE CURRY

Digambar Sahu (better known as Chef Di), a former chef for Holland America Line, opened his food truck in Celebration Park in 2018. For him, the truck was a step toward the brick-and-mortar restaurant he opened two years later. He sees advantages and disadvantages to both.

“With a truck, you get to visit different communities and meet a lot of people, and you know more or less how many customers will show up. In a restaurant, it’s unpredictable. Expectations and costs are higher, and you need a wider range of skills to succeed.”

His restaurant now serves as a commissary kitchen for the truck, where everything for an event can be prepped in advance. The truck’s menu is smaller, but many of the most popular dishes are the same: tikka masala, butter chicken, and a dish he calls curry fried chicken (chicken legs marinated in Indian spices and served with a trio of chutneys).

His truck can be found in locations in North Naples. (ilovecurry124.com)

GYROS2GO

Originally from Piraeus (the Port of Athens), Andreas Visilias owned restaurants in Greece and El Salvador before coming to the United States. He began operating his food truck in early 2018 and moved it to Celebration Park when it opened that November. “The goal for me—along with most Greeks in the restaurant industry—is to introduce the true and original Greek cuisine, not an Americanized version of it,” he says. “I don’t buy processed meat; I use authentic ingredients and prepare everything from scratch.”

His most-ordered dish is the classic lamb gyro, served on a grilled pita with tomato, onion, tzatziki, and feta. He also does a chicken gyro, and his vegetarian version has become extremely popular. “We have a health-oriented cuisine in our culture,” he says. “Our meatless gyro is vegan, vegetarian, and gluten-free, and has been very well received.”

Visilias feels he has benefited from a recent demographic shift in Southwest Florida. “Naples has become a multicultural center,” he says. “People are moving here from all over the country and from Europe as well. The popularity of international food is a reflection of the population.” (facebook. com/gyros2go1)

ELLIOT TAYLOR

THE CLOSE

AMONG THE ANCIENTS

This season, take visitors to this old-growth bald cypress forest for an authentic old Florida experience. Protected by Audubon for more than a century, Audubon Corkscrew Swamp Sanctuary is recognized as one of the world’s most valuable wetland ecosystems. It spans more than 13,000 acres, which includes 700 acres of virgin bald cypress (some nearly 600 years old), and is home to the nation’s largest nesting colony of federally endangered wood storks. The sanctuary’s 2.25-miles boardwalk transports visitors through ancient forest, marsh, and upland habitats. Volunteer naturalists are often ready to answer questions and share sightings along the boardwalk. Cool off in the Blair Audubon Visitor Center while learning about the swamp’s rich natural history or sign up for an early-morning or sunset walk. (corkscrew.audubon.org)

At

Corkscrew Swamp Sanctuary

PICTURING PARADISE