REALTORreview 速
FALL 2012
An e-publication of the Raleigh Regional Association of REALTORS速
Celebrating the Gift of Giving
REALTOR
RALEIGH REGIONAL ASSOCIATION OF REALTORS®
®
review
FALL 2012, VOL. 4, NO. 4
features
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ASSOCIATION DUES Q&A Frequently asked questions about annual dues clarify online billing, late fees and more.
111 Realtors Way, Cary, N.C. 27513 Phone: 919-654-5400; Fax: 919-654-5401 www.rrar.com RRAR OFFICERS Stacey Anfindsen, President Marshall Gay, Vice President Asa Fleming, President-Elect
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FIVE WAYS TO ACHIEVE A TOP PRODUCER’S MINDSET Gain insight into underlying strategies for driving real estate sales with a positive, get-it-done mindset.
Mollie Owen, Secretary/Treasurer
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PINTEREST 101 STRATEGY IN THREE EASY STEPS Building a unique brand on Pinterest begins by first understanding what appeals to your key audience.
Linda Trevor, Immediate Past President RRAR DIRECTORS Vince Bankoski
Linda Kolarov
Autumne Bennette
Carol McCormick
Phyllis Brookshire
Gina Miller
Kelly Cobb
John Pace
David Chance
Mark Parker
Steina DeAndrade
Teresa Pitt
Harriette Doggett
Zach Schabot
Tom Gongaware
Jose Serrano
Becky Harper
Josh Swindell
Grayson Hodge
Kevin Woody
Morty Jayson REALTOR® FOUNDATION OF THE TRIANGLE OFFICERS President: Marshall Gay President-Elect: Theresa Clark Secretary/treasurer: Vince Bankoski NCAR REGIONAL VICE PRESIDENTS
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Theresa Clark
Harriette Doggett
NAR DIRECTORS Eddie Brown
SOCIAL MEDIA LAUNCHES SIX BUSINESS-FRIENDLY FEATURES Cool new features on Facebook, Pinterest and Instagram offer useful applications for your business.
departments 3 President’s Message 5, 8 & 12
TRIANGLE REALTORS® LEADERSHIP ACADEMY DEAN Diana Braun
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BOOMERS WILL NEED YOUR HELP TO “AGE IN PLACE” This writer shares her experiences working with boomers interested in aging in place and what matters to them.
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RRAR Events
Copyright 2012 by the Raleigh Regional Association of REALTORS®. All rights reserved. REALTOR® REVIEW STAFF: Patricia Gregory Rand, managing editor, patriciar@rrar.com Sandee Washington, communications associate, sandeew@rrar.com
16 Local Market Update Welcome
Members are cautioned that the inclusion of a name, specific commercial product or service in an article, or in this publication does not imply endorsement by the Raleigh Regional Association of REALTORS®. All advertisers in this publication wholly support the Fair Housing Act and fully promote equal opportunity housing.
Heidi Ketler, APR, editor, hketler@verizon.net
Neighbors Helping Neighbors
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John Wood
Shelly Beck, graphic designer, sbdesign@cox.net For editorial contributions and ad inquiries, please contact Sandee Washington at sandeew@rrar.com or (919) 654-5400.
rrar.com REALTOR Review ®
Preliminary Identity Colors
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president’s message
Renew Your Membership and Commitment Asa Fleming
Dear REALTOR® Member, The year 2013 is just around the corner, and it is time to renew your membership with the Raleigh Regional Association of REALTORS®. Renewing your commitment to your local association also renews your membership at the state and national levels as well. Member benefits include: • Free seminars and member programs • Discounted continuing education • State-of-the-art website with an Internet-based MLS • Professional standards administration • Centralized Showing Service • Political advocacy and RPAC administration • Discounts on facility rentals at One Eleven Place • Membership discounts at participating stores • Meetings, socials and networking opportunities • Triangle REALTORS® Leadership Academy With more than one million REALTOR® members worldwide, the National Association of REALTORS® is the largest trade organization in the United States. An organization is only as strong as the commitment of its members, so by renewing your 2013 membership, you are ensuring the continued success of your association and your profession. Best of luck in 2013, and thank you in advance for your renewed commitment to the Raleigh Regional Association of REALTORS®. Sincerely,
Asa Fleming 2013 RRAR President
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MISSION STATEMENT The Raleigh Regional Association of REALTORS®, the area’s voice of real estate, promotes the highest ethical and professional standards and cooperation among its members; provides products, programs and services to meet the evolving needs of the real estate industry and consumers; and serves as a leading advocate of private property rights and community involvement. VISION STATEMENT “Anticipating and meeting the opportunities and challenges of our industry.” RRAR 2012 COMMITTEE CHAIRS Bylaws: Asa Fleming Building: Stacey Anfindsen Communications & Public Relations: Carol McCormick Community Service: Frank DeRonja Government Affairs: Bill Fletcher RPAC: Asa Fleming Personnel: John Wood Grievance: Autumne Bennett, Suzanne Burton, Nancy Cashwell, Margaret Sophie Hall of Fame: Ed Willer Nominating: Gary Rabon RRAR 2012 COUNCIL CHAIRS Women’s Council: Lynn Gardiner International Council: Mike Humphreys Top Producers Council: Co-Chairs Shawn Britt and John Wood Small Brokers Council: Chair Brenda Carroll Young Professionals Network: Co-Chairs Autumne Bennett and Aquene Hernandez RRAR STAFF DIRECTORY Main Office (919) 654-5400 Fax (919) 654-5401 www.rrar.com RRAR Company Store, (919) 654-7253 Executive Vice President Raymond C. Larcher, Ext. 218, rayl@rrar.com Association Services Director Betsy Ramsey, Ext. 217, betsyr@rrar.com Association Services Associate Vicki Buckholtz, Ext. 216, vickib@rrar.com Communications Director Patricia Gregory Rand, Ext. 239, patriciar@rrar.com Communications Associate Sandee Washington, Ext. 238, sandeew@rrar.com Education Director Cara Mottershead, Ext. 211, caram@rrar.com Education Associate Sonya Yankoglu, Ext. 212, sonyay@rrar.com Facilities Manager Mary Rachel White, Ext. 210, maryrachelw@rrar.com Governmental Affairs Director Tara L. Robbins, Ext. 215, taralynl@rrar.com Information Associate Shelia Clark, Ext. 200, sheliac@rrar.com Store Manager Yukari Powers, Ext. 201, yukarip@rrar.com TMLS STAFF DIRECTORY Vice President of Operations Rachel Wiest, Ext. 219, rachelw@trianglemls.com TMLS Executive Associate Christy New, Ext. 220, christyn@trianglemls.com Compliance Director Letitia Santos, Ext. 234, letitias@trianglemls.com Compliance Associate Raina Joyner, Ext. 242, rainaj@trianglemls.com Data Distribution Director Carol Hamrick, Ext. 213, carolh@trianglemls.com Data Distribution Associate Bonnie Eaddy, Ext. 207, bonniee@trianglemls.com MLS Systems Director Kathy Matheson, Ext. 233, kathym@trianglemls.com MLS Technical Support Associate J Stepp, Ext. 226, js@trianglemls.com MLS/Realist Support Associate Jennifer Horton, Ext. 227, jenniferh@trianglemls.com Technical Operations Director Matt Nagy, Ext. 225, mattn@trianglemls.com Training Development Manager Allan Nielsen, Ext. 208, allann@trianglemls.com CTC/MLS Training Manager Lynne Brid, Ext. 232, lynneb@trianglemls.com RRAR/TMLS MEMBERSHIP/ FINANCE DEPARTMENT Membership/Finance Director Randi Clodfelter, Ext. 221, randic@trianglemls.com Finance Associate Pat Long, Ext. 222, patl@trianglemls.com Finance Associate Jill Pressley, Ext. 221, Jillp@rrar.com Membership Associate Kelly Hunsucker, Ext. 209, kellyh@trianglemls.com
Members Are Responsible for Paying Annual Dues by Jan. 31 Online Billing, Late Fee and Other Frequently Asked Questions Q. How will I receive my dues invoice this year?
tion dues remain the same. Raleigh association dues remain the same for the 12th consecutive year.
A. E-mail billing has been a tremendous success for the past six years. You should have received your dues invoice via e-mail Nov. 1. You will not be mailed a paper copy.
Q. What is the most convenient way to pay?
Q. How do I make sure the association has the correct e-mail address for me? A. Please verify your personal roster information in Tempo and update your e-mail address if needed. Q. When are 2013 membership dues due? A. Dec. 31, 2012 Q. Is there a late fee? A. Yes. Any dues received after Jan. 31, 2013 will incur a $35 late penalty. Q. How much are my REALTOR® dues, and what is the “breakdown?” A. Local Raleigh Regional Association of REALTORS® dues are $171; North Carolina Association of REALTORS® dues are $130; National Association of REALTORS® dues are $155. Since this board collects all dues (local, state and national), your total amount is $456. Q. Have dues increased?
A. Paying online with a credit card or TeleCheck is quick, easy and secure. You Also can print a receipt for your records. Q. Are dues refundable if I decide to put my license on inactive status later in the year? A. No. According to the bylaws, dues are nonrefundable. Q. Are dues tax deductible as a business expense? A. Yes. Annual dues are a deductible business expense except for $82.07. This amount is dedicated to lobbying expenses (for NAR, NCAR and RRAR combined) and, as provided in the 1994 Tax Act, is a nondeductible expense. Failure to receive a notification does not relieve members of the requirement to meet established payment deadlines. Information on member dues is published on www.rrar.com, in the REALTOR® Review and in the biweekly newsletter RRAR E-News.
A. No. The national association and state associaREALTOR Review ®
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neighbors helping neighbors
REALTORS® Relief Foundation aid will help restore areas such as Union Beach, N.J., damaged when Hurricane Sandy hit Oct. 29.
Raleigh REALTORS® Send $2,500 to Help Hurricane Sandy Victims
The Raleigh Regional Association of REALTORS® Board of Directors voted to send $2,500 to the REALTORS® Relief Foundation for Hurricane Sandy disaster assistance. Damaging 75-90 mph wind gusts and flooding rain ravaged the East Coast after Sandy hit the Eastern Shore Oct. 29. In addition to a significant loss of life, the hurricane caused as much as $50 billion in damage and economic losses from Virginia to Massachusetts. “Without a doubt there are many people out there who need our help right now,” says Raleigh Regional Association of REALTORS® President Stacey Anfindsen. “Most of us have observed from afar the painful aftermath and want to help. What better way than through the REALTORS® Relief Foundation.” For more than 11 years, the REALTORS® Relief Foundation has been dedicated to providing housing-
REALTOR Review ®
related assistance to victims of disasters. The National Association of REALTORS® covers all administrative costs, so every penny donated goes directly to help disaster victims. The relief foundation works with state associations in affected areas to assure the funds are distributed as quickly as possible to those in need within the REALTOR® family and the community at large. An assessment from economic analysis firm IHS estimated $20 billion in structural damage alone from the superstorm. Research firm CoreLogic estimated that 284,000 properties with a potential value of $88 billion were at risk of damage or destruction. New York had the highest number of properties at risk with just over 81,000 valued at $35.1 billion, followed by more than 75,000 properties in New Jersey totaling $22.6 billion. For more information, visit www.realtor.org.
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5
Ways to Achieve a Top Producer’s Mindset
BY BERNICE ROSS
Top performers in virtually all industries share one common trait: a positive mindset. You can have the best systems and understand how to apply leverage and attraction, but it is your mindset that will ultimately make or break your success. Maintaining a positive mindset is one of the most important elements in creating real estate sales success. Having strong systems creates a sense of confidence. Leverage makes it easier for you to create and maintain momentum. Potential clients are attracted to those who have a positive mindset and a get-it-done attitude. So what can you do to improve your mindset?
you to get up again, even when you are knocked down repeatedly. As one persistent agent once said, “Every ‘no’ brings me closer to my next ‘yes.’” If events are getting you down, you can pull yourself back up by having a strong support network. This can be a coach, a mentor, a good friend, your manager or someone else whom you trust to be there in your corner. There’s no need to struggle through a difficult situation alone.
“It’s not whether you get knocked down, it’s whether you get back up.”
Here are five proven strategies:
1. Emotional resilience Vince Lombardi, who coached the Green Bay Packers football team during the 1960s, once said, “It’s not whether you get knocked down, it’s whether you get back up.” Real estate is filled with rejection: Sellers list with other agents; your buyers walk in and buy a property at an open house without you; or your closest friend does business with someone else. A positive mindset is what allows
Vince Lombardi, Green Bay Packers coach
A slightly different approach comes from brain researcher Daniel Amen. Amen recommends that when you have a persistent or “automatic negative thought” (an “ANT”), the way to kill the “ANTs” is to write them down. This process allows you to evaluate the situation more objectively and makes it easier to find a workable solution to the issue. REALTOR Review ®
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2. Laughter: Still the best medicine Numerous research studies have shown that when you laugh, the muscular changes in your body trigger the release of beta-endorphin, the feel-good neurotransmitter, which in turn makes you feel happier and more positive. If you are feeling down, watch a funny movie, listen to the comedy network, get a massage or do whatever makes you feel better. Another way to raise your endorphins is to have some chocolate. Do avoid self-medicating with alcohol or drugs, which will actually make you feel more down when they wear off. 3. Create a supportive environment Philosopher and architect Buckminster Fuller once said, “Environment is stronger than will.” In other words, to maintain a positive mindset, surround yourself with people who are positive.
For example, if your office is filled with negative people, consider working from home. If you must interact with someone who is negative, stop his or her negative comments by saying, “Tell me one thing that went right today.”
Again, the best strategy is to avoid them all together. To be even more proactive in upgrading your environment, join a masterminds group or some other group of highly successful people. Motivational speaker Jack Canfield talks about how he didn’t start making lots of money until he changed his peer group. According to Canfield, if you take the average income of your 10 closest friends and/or colleagues, you can pretty accurately predict what your earnings will be. Upgrading your peer group upgrades your mindset, which upgrades your income.
Each statement illustrates a reactive approach to the real estate business. Being reactive means waiting for the business to come to you rather than going out and proactively generating leads from prospecting, blogging or social networking. It’s hard to feel positive when you are not in control. A simple way to remedy this situation is to take baby steps. Begin by calling one or two of your past clients every day. If you prefer to use social media, respond to eight to 10 of your friends’ or followers’ posts on social media every day. Staying in contact with your referral database is one of the best ways to maintain a positive mindset and generate business.
5. Be willing to say “no!” When I interviewed REALTOR® Ira Serkes for my book, Waging War on Real Estate’s Discounters, he shared the following steps that he uses to maintain a positive mindset in his business. In order to work with Serkes, the clients must be “nice.” As Serkes puts it: “A bad client
4. Proactive rather than reactive Consider each of the following statements. Can you spot what they have in common? There’s just no inventory/buyers. I’ve been taking floor time and haven’t had a lead in months! I’ve been holding open houses every Sunday, but I never get any leads. REALTOR Review ®
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is like bad cholesterol – they block your energy and can give you a heart attack. We avoid clients who have unrealistic expectations or who are extremely demanding. “Also, if we feel that we can’t meet a client’s expectations, we refer them to another agent. There’s no need to insult them. I just simply say ‘no’ by telling them, ‘We simply can’t meet your expectations. I’m not the right agent for you. I’d be happy to introduce you to another agent who could help you.’” It makes no difference where you begin. Every step you take, no matter how large or how small, raises the bar in terms of your performance. These small steps over time will result in big gains for you both personally and professionally. Bernice Ross, chief executive officer of RealEstateCoach.com, is a national speaker, trainer and author of the National Association of Realtors’ No. 1 best-seller, Real Estate Dough: Your Recipe for Real Estate Success. Hear Bernice’s five-minute daily real estate show, just named “new and notable” by iTunes, at www.RealEstateCoachRadio.com. She can be reached at Bernice@RealEstateCoach.com or @BRoss on Twitter.
neighbors helping neighbors
REALTORS® Celebrate by Giving
Members of the Community Service Committee of the REALTOR® Foundation of the Triangle volunteer at the Shepherd’s Table Food Kitchen in Raleigh with some new friends. From left are volunteer Susannah DeBenedetto; committee members Denise Stevenson and Bob McKeel; Shepherd’s Table staff member Uchenna Nwoko; and committee members Shruti Desai, Kathleen Yllanes, Harrison Tulloss and Ben Wills.
International Council Wins Silver Status
Janet Branton, National Association of REALTORS® senior vice president of global business & alliances congratulates 2012 TICOR Chair Mike Humphreys during the international dinner in Orlando in November. The National Association of REALTORS® named the Triangle International Council of REALTORS® a Silver Council in the 2012 Global Business Council Achievement Program. “On behalf of the 240,000 REALTOR® members represented by global business councils across the country, we thank you for your efforts and congratulate you on your achievement,” said Janet Branton, senior vice president of the National Association of REALTORS® Global Business and Alliances Group. Mike Humphreys, MBA, MRICS, CIPS, is the 2012 TICOR chair.
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SOCIAL MEDIA LAUNCHES
Six BusinessFriendly Features platforms, so it’s no surprise that they are taking their platforms to the next level with these updates. Facebook is under the gun to bring in new revenue sources, so it will be interesting to see if its new job board and gifts features will be the answers investors are looking for.
BY KATIE LANCE
1. Facebook’s pages only feed lets you see a feed of the business pages you’ve “liked” in the past. Go to the pages feed for a newsfeed view without your friend updates. 2. Facebook’s job board app is a big move and possibly an important new revenue stream. Looking to add to your team? Check out the new board. Will this give LinkedIn a run for its money? Only time will tell.
Facebook’s job board app
3. Facebook’s Gifts is a way to share with, and give gifts to, your Facebook friends. This seems like it would be an easy way to send gifts to your clients quickly and easily – all through Facebook. 4. Instagram’s web profiles look Facebook-ish (no surprise), but I love the clean look and how the headers rotate. It is incredible that this app has had so much
Instagram’s web profiles
success so far! Now, each Instagram photo has its own link, and you can access those links without going through a third-party application. This makes it even easier to “pin” your Instagram photos to Pinterest. 5. Pinterest’s secret boards make it possible to collaborate in a private forum – a great way for real estate agents to connect with buyers in search of their dream home. 6. Pinterest’s business pages feature makes it easy to convert Pinterest pages to business pages. It looks like more tools for businesses will be rolled out in the future, but for now Pinterest offers features such as: website verification and widgets for your website. It’s interesting to note that its terms of service have also been simplified. Instagram and Pinterest are two of the fastest-growing social media REALTOR Review ®
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Pinterest’s business pages
Either way, it’s an amazing time we are in. I truly believe this is the dawn of social media, and we have barely scratched the surface of what social media really means for businesses – especially in the real estate industry. I would love to know your thoughts about these new changes – post a comment for me below! Katie Lance is a featured contributor of InmanNext, chief strategist for Inman News and chief executive officer and owner of Katie Lance Consulting. She is passionate about all things social, from the direct impact it can have on an agent’s success to the powerful community social media has enabled in real estate. You can connect with Katie on Facebook at http:// facebook.com/KatieLanceConsulting and on Twitter at @KatieLance.
Pinterest 101 Strategy
BY ALI MALDOFF
Pinterest is arguably one of the most enjoyable of the new social media platforms, with gorgeous visuals, a simplified posting and sharing process, as well as an intuitive way to categorize your collection. Yes, it’s true, you can lose an hour or two in a rabbit hole of delicious-looking recipes or dreamy home decor, but the seeming ease-of-use that Pinterest has should not be overlooked for business purposes. This simplicity is, in fact, what lends itself so well to communicating a brand message in a complete and meaningful way. Pinterest is a great way to give potential clients a glimpse into what your brand stands for beyond just the great service you provide. If you are ready to dip your toe into the wonderful world of Pinterest, here are three easy steps to get you on the right track.
1. Know your message Pinterest is a visual representation of your brand so before you begin, know first what you are trying to say. Are you always the first to know about a new neighborhood hot spot? Do you have the lifestyle of the young professional and what appeals to them completely figured out? Great, start there! At the luxury real estate company where I work, Chestnut Park Real Estate Limited, our brand message communicates excelREALTOR Review ÂŽ
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lence in service, product and lifestyle so everything we add or share on Pinterest is filtered through that lens. Ideally, this same message would be consistent with the rest of your social media platforms (Facebook, Twitter, etc.).
2. Think outside the box As you set up your pin boards, you will begin to see that there are some standard categories you want to cover, for example, your listings. But push your-
in 3 Easy Steps
self to go beyond the obvious and add something that shows a little twist on your brand message.
This simplicity is, in fact, what lends itself so well to communicating a brand message in a complete and meaningful way. For the Chestnut Park account, this includes our style boards in each of our markets (Muskoka, Collingwood, City and Country),
which helps to sum up the lifestyle in each area, as well as our Chestnut Park Green board, which is a collection of interesting and beautiful things in our company’s signature green color.
3. Link, link, link! This is where Pinterest for personal use and Pinterest for business use deviate. If you are using Pinterest as a means to drive traffic back to your website or blog (which you most definitely should be!), then any image you post to your boards should REALTOR Review ®
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include a link that takes followers back to the full story. This means making sure that there is a visual component to all of your blog posts going forward so that you can ensure easy sharing to Pinterest. Ali Maldoff is the social media manager for Chestnut Park Real Estate Limited, Ontario’s leading luxury brokerage based in Toronto, Canada. She is responsible for developing and implementing the company’s social media strategy, developing brand awareness through The Chestnut Park Blog and managing daily engagement on its various social media platforms including Facebook, Twitter, YouTube, LinkedIn, Google Plus and of course, Pinterest.
neighbors helping neighbors
Meadow Creek Residents “R.E.A.P.” Benefits of Beautification Project REALTOR® volunteers worked side by side with Meadow Creek residents to improve landscaping, provide fencing, a pet waste station, irrigation system repairs and more as part of the 2012 REALTOR® Foundation of the Triangle R.E.A.P Project on Saturday, Nov. 3. R.E.A.P stands for REALTORS® Enhancing Area Properties and aligns with the REALTOR® Foundation’s overall mission of “Improving Homes and Improving Lives.” R.E.A.P. is funded in part REALTOR Review ®
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by a grant provided by Homes 4NC and charged with having a meaningful impact on the day-today life of a community with at least 125 residents. “More than 100 volunteers worked together for community good, and now Meadow Creek residents can ‘reap’ the benefits,” said Mark Connor, co-chair of the REALTOR® Foundation’s Housing Opportunity Subcommittee and past president of Homes 4NC. “We were excited about the
“These residents take pride in homeownership and are so deserving of this valiant effort. It is an honor to serve and enhance the quality of life for others.” Mark Connor, Co-Chair, REALTOR® Foundation Housing Opportunity Subcommittee
opportunity to help beautify the Meadow Creek neighborhood of Raleigh. These residents take pride in homeownership and are so deserving of this valiant effort. It is an honor to serve and enhance the quality of life for others,” Connor said. Special thanks to all the R.E.A.P. volunteers and to Junk Patrol, a local junk-removal company, which participated by hauling away worksite debris and unwanted items. REALTOR Review ®
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Boomers Will Need Your Help to “Age in Place” BY TERESA BOARDMAN
As REALTORS®, we need to stay on top of housing issues, and just about every social issue can become a housing issue. Aging is an example of an issue that affects housing, yet seems to be barely on our radar, as we continue to work through short sales and foreclosures and work hard to attract first-time home buyers.
Retiring and moving to a warmer climate or an apartment isn’t for everyone. There are more people who want to age in place. Aging in place is about staying put or getting rid of the huge house in the ’burbs and moving into something smaller after the children leave home. Some of us plan to continue working until we are well over 70, if possible, and want to live in areas where there is work. I remember working with a couple who were in their 70s who wanted to move into a smaller home with fewer steps and a smaller yard or no yard at all. When I suggested 55-plus housing, they told me they did not want to live with old people. They ended up buying a onestory condo near downtown. They are now in their mid-80s and staying put. It’s cost-effective for them to stay put, as their home is paid for. But they need some services due to health problems. They get Meals On Wheels and are using the block nurse program and some housekeeping services. Last year, after having trouble with their car, they gave up driving. They order their groceries over the Internet and have them delivered. They are able to get most of what they need through the Internet. They can walk to the local farmers market and local restaurants. They use a combination of cabs, rides from relatives and walking to get around and have access to public transportation. You will sometimes hear of a neighborhood or building where a large segment of the residents are older adults who intend to
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people are still in the same home they were in 40 years ago. It isn’t all pretty. More than 60 percent of the seniors in my community are living alone – many with no transportation. Depression and loneliness are common challenges.
spend the rest of their lives there referred to as a “naturally occurring retirement community,” or NORC. Instead of seniors moving to places where there are more services, the services come to them; there are nonprofit organizations cropping up to help seniors age in place. These are partnerships between the private sector, churches and the public services. They become the go-to place for finding services. Some services are expensive, and others are free. As a REALTOR®, I have learned to not make too many assumptions about how or where people want to live based on their age. Each person is unique, and there isn’t any cookie-cutter approach to retirement or aging. This year, I have had the pleasure of working with older couples who plan to retire in place and who decided to move into the city where they can get more services and live in a smaller home that is closer to work. The neighborhood I live in has an above-average percentage of people in their 80s. Many of these
It is more expensive to live alone, and some seniors look for roommates, which is also creating a cottage industry of companies and individuals who find compatible roommates for seniors. Economics may also trigger a demand for multigenerational housing and agents who can help families who want to live together. When it is time to sell the home, it is because the senior who lives in the NORC has moved to a nursing home or some kind of assisted living – or has died. The REALTOR® usually ends up working with the family of the seller. As agents, we can market our services to the families, and they are looking for help.
Agents working on their 2013 business plans might want to do some research on senior housing and senior housing issues in their neighborhoods or areas of business. There might be some opportunities that other agents are not pursuing as they focus on first-time home buyers and those move-up buyers who used to be more common during the housing boom. At the very least, all real estate agents need to be familiar with “NORC” and should also understand the migration patterns and demographics in their own community. The NORC movement is likely to pick up steam as boomers age, and it will generate opportunities for real estate agents. Teresa Boardman is a REALTOR® for Saint Paul Home Realty in St. Paul, Minn. She blogs at StPaulRealEstateBlog.com and she is an avid photographer. Her blog displays thousands of her photos.
I have had the pleasure of working with older couples who plan to retire in place and who decided to move into the city where they can get more services and live in a smaller home that is closer to work. REALTOR Review ®
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Local Market Update – October 2012 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS
Entire Triangle Region
+ 11.8%
+ 31.1%
+ 2.7%
Change in New Listings
Change in Closed Sales
Change in Median Sales Price
October
New Listings Closed Sales
Year to Date
2011
2012
+/–
2011
2012
+/–
2,671
2,986
+ 11.8%
33,672
33,863
+ 0.6%
1,500
1,966
+ 31.1%
16,743
20,043
+ 19.7%
Median Sales Price*
$183,000
$187,990
+ 2.7%
$185,000
$189,450
+ 2.4%
Average Sales Price*
$215,456
$223,785
+ 3.9%
$223,586
$225,883
+ 1.0%
Total Dollar Volume (in millions)*
$322.0
$439.4
+ 36.5%
$3,738.0
$4,519.5
+ 20.9%
Percent of Original List Price Received*
92.1%
93.4%
+ 1.5%
92.0%
93.5%
+ 1.7%
Percent of List Price Received*
95.8%
96.6%
+ 0.9%
96.1%
96.5%
+ 0.4%
126
118
- 6.6%
126
120
- 4.9%
Inventory of Homes for Sale
16,294
12,599
- 22.7%
--
--
--
Months Supply of Inventory
10.0
6.6
- 34.3%
--
--
--
Days on Market Until Sale
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
2011
October 2,671
2012
2011
Year to Date
2 986 2,986
33,672
33 863 33,863
1,966 1,500
+ 11.8% New Listings
16,743
+ 0.6% New Listings
+ 31.1% Closed Sales
2012
20,043
+ 19.7% Closed Sales
Change in Median Sales Price from Prior Year (6-Month Average)**
All MLS
b
Entire Triangle Region
a
+ 10% + 8% + 6% + 4% + 2% 0% - 2% - 4% - 6% - 8% 1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period period. | Current as of November 10 10, 2012 2012. All data from Triangle Multiple Listing Service Service, Inc Inc.. | Powered by 10K Research and Marketing Marketing.
For further information regarding TMLS Market Trends and Analysis please visit: www.TriangleMLS.com
REALTOR Review ®
l 16 l
fall 2012
Local Market Update – October 2012 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS
Wake County
+ 9.6%
+ 33.2%
+ 3.8%
Change in New Listings
Change in Closed Sales
Change in Median Sales Price
October New Listings Closed Sales
Year to Date
2011
2012
+/–
2011
2012
+/–
1,380
1,512
+ 9.6%
17,438
17,501
+ 0.4%
840
1,119
+ 33.2%
8,950
11,075
+ 23.7%
Median Sales Price*
$205,000
$212,888
+ 3.8%
$207,500
$213,500
+ 2.9%
Average Sales Price*
$244,898
$253,279
+ 3.4%
$246,068
$250,448
+ 1.8%
Total Dollar Volume (in millions)*
$205.7
$283.2
+ 37.7%
$2,202.2
$2,772.8
+ 25.9%
Percent of Original List Price Received*
92.8%
94.7%
+ 2.0%
92.8%
94.6%
+ 2.0%
Percent of List Price Received*
96.6%
97.4%
+ 0.8%
96.6%
97.2%
+ 0.6%
124
104
- 16.1%
122
112
- 7.6%
Inventory of Homes for Sale
7,686
5,423
- 29.4%
--
--
--
Months Supply of Inventory
8.8
5.1
- 42.0%
--
--
--
Days on Market Until Sale
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
October 1 380 1,380
2011
2012
2011
Year to Date
1,512
17 438 17,438
2012
17 501 17,501
1,119 840
+ 9.6% New Listings
8,950
+ 0.4% New Listings
+ 33.2% Closed Sales
11,075
+ 23.7% Closed Sales
Change in Median Sales Price from Prior Year (6-Month Average)**
All MLS
b
Wake County
a
+ 15%
+ 10%
+ 5%
0%
- 5%
- 10% 1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period period. | Current as of November 10 10, 2012 2012. All data from Triangle Multiple Listing Service Service, Inc Inc.. | Powered by 10K Research and Marketing Marketing.
For further information regarding TMLS Market Trends and Analysis please visit: www.TriangleMLS.com
REALTOR Review ®
l 17 l
fall 2012
WELCOME NEW MEMBERS! THIRD QUARTER 2012
Aimee K. Gibbs, Chatham Homes Realty Sora Given, Keller Williams Realty Kyle G. Gramling, Fonville Morisey/ Preston Sales Office Jonathan R. Abel, Keller Williams Realty Jeffrey S. Graves, Allen Tate Co. Inc. Mary Ann Adams, Fonville Morisey/Jeanne David Hargrove, Fathom Realty, LLC Hendren Realty Group Michael Harkins, Keller Williams Realty Lubna Akhtar, Fonville Morisey/ Daniel E. Harmon, Howard Perry & Preston Sales Office Walston Realtor Michele Alexander, Howard Perry & Giovanna Hewitt, Go Realty Walston Realtor Douglas B. Hill, Fonville Morisey/ Janet S. Allen, Prudential York Simpson Preston Sales Office Underwood Realty Rusty Hollifield Jr., Prudential York Simpson Lisa M. Baker, Fonville Morisey/Lochmere Underwood Realty Sales Office Edward A. Holmes, Howard Perry & Walston Edward D. Barnes III, Fonville Morisey/ Realtor Lochmere Sales Office David H. Horne, Fonville Morisey/ Pamela H. Beebe, Fonville Morisey/Preston Preston Sales Office Sales Office Theresa S. Horne, Theresa Horne Mahvash Benjamin, Raleigh Cary Realty Inc. Jonnie M. Jacquez, Fonville Morisey/ Stacy L. Bennett, Keller Williams Lochmere Sales Office Emily Bennett, BB&T Barry Jones, Keller Williams Preferred Kyle Bishop, Dan Ryan Builders North Kelley S. Keats, Allen Tate Co. Inc. Carolina, L.L.C. Jason Keller, Howard Perry & Walston Realtor Joyce A. Boals, Fonville Morisey & Barefoot Elizabeth L. Kempton, Fonville Morisey/ Chris Bonfiglio, Coldwell Banker Advantage Stonehenge Sales Office Chimene M. Booty, Selling Directly Lauren Kennedy, Keller Williams Preferred Dawn L. Bordeaux, Home Coach of the Triangle Shelby Keon, Keller Williams Realty Michael Bottoms, Dan Ryan Builders Ali A. Khorram, Pan Realty, LLC North Carolina, L.L.C. Keith Knippenberg, Linda Craft & Team, Eddie Bryant, Fifth Third Mortgage REALTORS Mark D. Bullard, Wieland Properties Inc. Chris E. Kornegay Sr., Howard Perry & Treasea B. Bunch, Keller Williams Walston Realtor Laura M. Cash, Salem Street Realty Donna A. Krivda, Howard Perry & Judith Lynn Celemen, Carolina MaxRealty Inc. Walston Realtor Jeffrey M. Charbonneau, Freedom Realty Firm Kenneth W. Lawrence, Champion Realty Inc. Susan Coombs, HomeTowne Realty Kimmy Le, Re/Max One Realty Frances Crawford, Omni Realty Group Christa M. Ledger, Allen Tate Co./Cary-Searstone Rick Dail, Primary Residential Mortgage William D. Lee, Fonville Morisey & Barefoot/ Bryce A. Daniel, Howard Perry & WalstonBloomfield Triangle at Southpoint Martha A. Lewis, Above All Real Estate Stacy J. Danzey, Go Realty Cassondra Liles, Go Realty Ralf P. Degle, Fonville Morisey/Brier Creek Lisa Long, Builders of Hope Sales Office Jeanne Lyons, Salem Street Realty David P. DiProfio, Freedom Realty Firm Judy L. Mack, Fonville Morisey/Lochmere Thomas G. Doane, Regan & Co. Sales Office Wendy C. Dudka, Selling Directly Lauren Marcey, Howard Perry & Walston Realtor Deborah A. Dunevant, Standard Pacific Marisol Marin, Triangle Realty Solutions Carolinas, L.L.C. Donna M. McGarry, Howard Perry & Scott N. Dunham, Scott Dunham Real Estate Walston Realtor Emefa A. Dzotsi, Howard Perry & Walston Realtor Karen McHugh, Go Realty Amanda D. Edwards, Howard Perry & M. Scott Mills, Goldens Realty Walston Realtor Jeff Morrison, Howard Perry & Walston Realtor Alan W. Ext, Fonville Morisey/Stonehenge Richard P. Mosden, Allen Tate Co. Inc. Sales Office Robert B. Ezzell, Howard Perry & Walston Realtor Phyllis F. Moss, Re/Max United Carol F. Feeley, Howard Perry & Walston Realtor Lin Moy, Fonville Morisey/Lochmere Sales Office Melody M. Narla, The Downtown Agency Elizabeth G. Fortunato, Keller Williams Donald M. Foy, Howard Perry & Walston Realtor Stephanie Narron, Re/Max One Realty Daniel M. Ngandu, Keller Williams Realty Jason M. Galloway, Standard Pacific Thai H. Nguyen, Champion Realty Inc. Carolinas, L.L.C. Richard Oliver, Keller Williams Realty Troy Gardner, Royal Park, Realtors Jihan H. Ghanayem, Triland Property Christopher C. O’Shields, Raleigh Cary Realty Inc. The following are new Raleigh Regional Association of REALTORS® members who joined during the third quarter:
Melissa M. Papadopoulos, Howard Perry & Walston Realtor Jung Park, Howard Perry & Walston Realtor Ruth E. Payne, Howard Perry & Walston Realtor Patrick Pearce, Howard Perry & Walston Realtor Laura H. Pedersen, Fonville Morisey/Youngsville Sales Office Christian R. Pendleton, Pinnacle Appraisal Group, L.L.C. Denise S. Peoples, Fonville Morisey/Lochmere Sales Office Cinque Peoples, CCI Professionals, L.L.C. Ashley L. Phillips, Howard Perry & Walston Realtor Cheryl D. Pope, Toll Brothers Inc. Garlinda M. Price, Fusion Properties, L.L.C. Jennifer Proulx, Coldwell Banker Advantage Wendy Putnam, Swanger Properties, L.L.C. Randolph Reid, Howard Perry & Walston Realtor Myra L. Rice, A Dunn Deal Realty Piedad L. Rogel, Fonville Morisey/Preston Sales Office Niccole W. Rosin, Allen Tate Co. Inc. Carol H. Saavedra, Prime One Realty Reid C. Sanderson, Fonville Morisey/Preston Sales Office Leah Saul, Keller Williams Preferred Sabine Schwab, Howard Perry & Walston Realtor Edward K. Scoville, Allen Tate Co. Inc. Jerry B. Smiley, Howard Perry & Walston Realtor Shannon Smith, Keller Williams Realty Chapel Hill Suzan J. Smith, Fonville Morisey/ Lochmere Sales Office Kevin H. Smith, Allen Tate Co. Inc. Christopher D. Smith, Keller Williams Realty Mark Steward, Allen Tate Co. Inc. Xiujuan Su, First Triangle Realty Inc. Jennifer L. Summers, Deal Realty Sheilah A. Sutton, Keller Williams Realty Steven Swanger, Swanger Properties, LLC Cynthia K. Tack, Allen Tate Co./Cary-Searstone Noel Temple, Selling Directly Denise R. Thomas, Prudential York Simpson Underwood Realty Carla S. Towns, Fonville Morisey/Stonehenge Sales Office Alan D. Van Vliet, Howard Perry & Walston New Home Mark K. Walchak, Royale Realty Kimberly Wallace, Allen Tate Co. Inc. Kenneth R. Walz, Falls Realty Priscilla Warren, Suite Transitions Emily S. Watts, Selling Directly John V. Wellons, Weichert REALTORSTriangle Homes Terri S. Wheeler, Riterug Ryan D. Whitlock, Whitlock Residential Realty Group Jimmie L. Williams, Big City Realty L.L.C. Steven M. Wilson, Howard Perry & Walston Realtor Donald A. Wright, Bailey Wright Realty Feng Xiao, First Triangle Realty Inc.
If you would like to sponsor a new member orientation, please contact Betsy Ramsey at (919) 654-4500. REALTOR Review ®
l 18 l
fall 2012
RRAR events
January 1 Triangle MLS 1st quarter 2013 user fees due Office closed for New Year’s Day 2 CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. CE: Elective: Client Level Negotiating, 1:30 pm. to 5:30 p.m. 9 RRAR Board of Directors, 9 a.m. 10 New Member Orientation, 8:30 a.m. to 3 p.m. 12 Inaugural Ball, Sheraton Imperial RTP, 6:30 p.m.
December 6 New Member Orientation, 8:30 a.m. to 3 p.m. RRAR Awards Ceremony, 4:30 p.m. to 6 p.m.
14 REALTOR® Foundation of the Triangle Meeting, 12:30 p.m.
Holiday Party, 6 p.m. to 9 p.m.
15 Community Service Committee, 11:30 a.m. to 1 p.m.
12 RRAR Board of Directors, 9 a.m.
16 Small Brokers Council, 8:45 p.m.
CE: Mandatory Update, 8:30 a.m. to 12:30 p.m.
21 Office closed for Martin Luther King Day
CE: For the Good of All: REALTOR® Code of Ethics, 1:30 p.m. to 5:30 p.m.
23 Triangle International Council of REALTORS®, 11:30 a.m.
20 New Member Orientation, 8:30 a.m. to 3 p.m.
24 New Member Orientation, 8:30 a.m. to 3 p.m.
21 Office closes, 1 p.m.
Property Management Council, 11:30 a.m.
February 6 Women’s Council of REALTORS® Top Producer’s Council, 11:30 a.m. 7 New Member Orientation, 8:30 a.m. to 3 p.m. 13 RRAR Board of Directors, 9 a.m. 14 Valentine’s Day 19 Community Service Committee, 11:30 p.m. to 1 p.m. 20 CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. 24-25 Office closed for Christmas
Small Broker’s Council, 8:45 a.m.
31 RRAR 2013 membership dues are due
CE: Broker-in-Charge Annual Review, 1:30 p.m. to 5:30 p.m.
Deadline for National Association of REALTORS® code of ethics reporting
21 New Member Orientation, 8:30 a.m. to 3 p.m. For more information, visit www.rrar.com
Office closes, 1 p.m. REALTOR Review ®
l 19 l
fall 2012
Asa Fleming Cordially Invites You to Attend the
Inaugural Ball Saturday, January 12th Social Hour Begins at 6pm Sheraton Imperial Hotel 4700 Emperor Boulevard Durham, NC 27703
Black Tie Optional $50 Per Person
Entertainment by The Party Shakers Please RSVP by January 4th as seating is limited.
To reserve a table for 8 or 10, please contact Vicki Buckholz at 919-654-5400 or vickib@rrar.com. To register online, please visit www.RRAR.com. Reserved hotel rooms available. Visit www.RRAR.com for details.