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America’s Best Housing Markets p. 10

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Table of Contents Features 10 America’s Hottest Housing Markets Nicole Friedman 18 Why RPAC Matters Nigel Swaby 20 4 Emerging Real Estate Trends Melissa Dittmann Tracey 22 8 Ways to Make Yourself a More Likeable Agent

Melissa Dittmann Tracey 24 Spa-Inspired Bathrooms are En Vogue

Barbara Ballinger

Columns 7 Utah is the Fastest Growing State Matt Ulrich – President’s Message

Departments 8 Happenings 8 In the News 28 Housing Watch

On the Cover: Cover: Tomasz Zajda ©/ Adobe Stock Photo left: onzon©/ Adobe Stock

This Magazine is Self-Supporting Salt Lake Realtor® Magazine is self-supporting. The advertisers in this magazine pay for all production and distribution costs. Help support this magazine by advertising. For advertising rates, please contact Mills Publishing at 801.467.9419. The paper used in Salt Lake Realtor® Magazine comes from trees in managed timberlands. These trees are planted and grown specifically to make paper and do not come from parks or wilderness areas. In addition, a portion of this magazine is printed from recycled paper.

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The Salt Lake REALTOR® (ISSN 2153 2141) is published monthly by Mills Publishing, located at 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106. Periodicals Postage Paid at Salt Lake City, UT. POSTMASTER: Send address changes to: The Salt Lake REALTOR,® 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106-4618.

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Salt Lake

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Hannah Cutler Coldwell Banker Residential

President Matt Ulrich Ulrich Realtors®, Inc.

Laura Fidler Summit Sotheby’s

First Vice President Steve Perry Wise Choice Real Estate

Amy Gibbons KW South Valley Jennifer Gilchrist Utah Key Real Estate

Second Vice President Rob Ockey Century 21 Everest

Tony Ketterling Equity Real Estate

Treasurer Carlye Webb Summit Sotheby’s

Claire Larson Woodside Homes John Lucky Coldwell Banker Residential

Past President Alicia Holdaway Summit Sotheby’s

Sophie Reece Berkshire Hathaway

CEO Curtis Bullock

Janice Smith Coldwell Banker Residential

Directors

Dawn Stevens RealtyOne Group Signature

Morelza Boratzuk Realtypath LLC

Advertising information may be obtained by calling (801) 467-9419 or by visiting www.millspub.com

Publisher Mills Publishing, Inc. www.millspub.com President Dan Miller

In many ways, the past 10 years have been some of the best years for the state of Utah, especially for Realtors®. Over the past decade, we saw an end to falling home prices, short sales, and foreclosures – fallout of the Great Recession. We saw the continuation of an economic expansion that began in 2009, the longest expansion in U.S. history. Over the past decade, Utah has consistently scored at the top of many rankings: best state for business, best state for jobs, best housing market, best state for economic competitiveness, etc. This is a result of our entrepreneurial drive, strong work ethic, young workforce, modern infrastructure, low utility costs, and universities.

Many Americans are giving up the high cost of living and crumbling infrastructure of the East and West coasts for the Intermountain West, according to U.S. News and World Report. In addition, our natural increase (births minus deaths) is a driving force of our growth. Well managed growth and balanced regulation are the ingredients to economic competitiveness.

Art Director Jackie Medina Sales Staff Paula Bell Paul Nicholas

Office Administrator Cynthia Bell Snow

Salt Lake Board: (801) 542-8840 e-mail: dave@saltlakeboard.com Web Site: www.slrealtors.com The Salt Lake Board of REALTORS is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support the affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. ®

The Salt Lake REALTOR is the monthly magazine of the Salt Lake Board of REALTORS . Opinions expressed by writers and persons quoted in articles are their own and do not necessarily reflect positions of the Salt Lake Board of REALTORS®. ®

Utah was the fastest growing state in the nation over the past decade, according to the 2020 Census. Nearly 508,000 people were added to Utah’s population since 2010, pushing the state’s population to 3.3 million people in 2020, an 18.4 percent growth rate.

“Utah has been ranked No. 1 for economic outlook every year since 2008 and currently has the fourth most diverse economy in the country,” according to the Utah Governor’s Office of Economic Development. “Forbes listed Utah’s regulatory climate, job growth and fiscally sound government as a few of the reasons the state earned such high marks. In addition, the magazine points to the state’s rapidly growing tech sector as a major boon to its economy.”

Managing Editor Dave Anderton

Graphic Design Ken Magleby Patrick Witmer

Utah is the Fastest Growing State

Permission will be granted in most cases, upon written request, to reprint or reproduce articles and photographs in this issue, provided proper credit is given to The Salt Lake REALTOR®, as well as to any writers and photographers whose names appear with the articles and photographs. While unsolicited original manuscripts and photographs related to the real estate profession are welcome, no payment is made for their use in the publication. Views and opinions expressed in the editorial and advertising content of the The Salt Lake REALTOR® are not necessarily endorsed by the Salt Lake Board of REALTORS®. However, advertisers do make publication of this magazine possible, so consideration of products and services listed is greatly appreciated.

“The country’s growth rate since the 2010 census was 7.4 percent – much lower than the 2000-2010 rate of 9.7 percent and the “second-slowest in U.S. history,” according to acting Census Bureau Director Ron Jarmin. “But there was big growth in certain regions. The population in the South grew 10.2 percent since 2010, while the West was close behind at 9.2 percent, according to the bureau’s data. The Northeast (4.1 percent) and Midwest (3.1 percent) grew at much slower rates.” Some may lament our growth and economic expansion. However, critics need to ask themselves whether they would rather live in states losing population, jobs, and their tax base or in states that are on the rise. Looking forward, Utah can expect more growth, higher paying wages, and more opportunities. There has never been a better time to be a Realtor®. Here’s to the next 10 years!

Matt Ulrich President

OFFICIAL PUBLICATION OF THE SALT LAKE BOARD OF REALTORS ® REALTOR® is a registered mark which identifies a professional in real estate who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS®. October 2005

May 2021 | Salt Lake Realtor ® | 7

Happenings

In the News More People Sign Contracts to Buy Homes

Amy Walters©/ Adobe Stock

Big Returns for Home Owners Willing to Sell Home owners deciding whether to sell should consider this. In the first quarter of 2021, a typical home sale in the United States generated a profit of $70,050, up 26 percent from $55,750 in the first quarter of 2020, according to a new report by ATTOM Data Solutions. This $70,050 home-sale profit represented a 34.2 percent return on investment compared to the original purchase price, the report said. In Salt Lake County, the median single-family home price in the first quarter of 2021 soared to $468,000, up 17 percent ($68,000) from a year earlier when the median price was $400,000. The overall median home price (single-family, townhomes, condos, twin homes) of the five-county Wasatch Front area was $395,000, up 17 percent from $339,000 a year ago.

Pending home sales increased in March, snapping two consecutive months of declines, according to the National Association of Realtors®. All but one of the four major U.S. regions experienced month-over-month gains in March, while each area recorded year-over-year growth. The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, rose 1.9 percent to 111.3 in March. Year-over-year, contract signings jumped 23.3 percent, with the difference due in large part to the pandemic-induced lockdown in March 2020. An index of 100 is equal to the level of contract activity in 2001. “The increase in pending sales transactions for the month of March is indicative of high housing demand,” said Lawrence Yun, NAR’s chief economist. “With mortgage rates still very close to record lows and a solid job recovery underway, demand will likely remain high.” “Low inventory has been a consistent problem, but more inventory will show up as new home construction intensifies in the coming months, as well as from a steady wind-down of the mortgage forbearance program,” Yun continued. “Although these moves won’t immediately replenish low supply, they will be a step forward.” U.S. existing-home sales are projected to rise by 10 percent in 2021 to reach 6.2 million in 2021, while the median home price is anticipated to increase by 9 percent in 2021 to $323,900.

Most Wasatch Front Homes Sell for Less Than $500,000 The vast majority of Wasatch Front homes sell for less than $500,000. In 2020, 81 percent of homes sold on the Wasatch Front sold for less than the half-million dollar mark. However, that percentage is down from 2019, when 87 percent of all home sales were for less than $500,000. In 2020, 17 percent of homes sold were between $500,000 and $999,999. Just 2 percent of sales were for homes priced at $1 million or higher. In 2019, 12 percent of all sales were between $500,000 and $999,999, and 1 percent of sales were for homes above $1 million.

8 | Salt Lake Realtor ® | May 2021

Housing starts are forecasted to reach 1.6 million in 2021 and 1.7 million in 2022, providing much-needed relief to the housing inventory deficit. Mortgage rates are expected to modestly climb higher over the next two years, to 3.2 percent in 2021 and 3.5 percent in 2022, as inflation rises due to a stronger economy and higher fiscal spending. The economy is anticipated to expand 4.5 percent in 2021 and 3.5 percent in 2022.

th i w r e n Part

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CCMAgent.com CCMAgent.com CrossCountry Mortgage, LLC | 6975 S Union Park Center, Suite 420 | Cottonwood Heights, UT 84047 | NMLS1914653. This piece is for professional realtor use only. It is not intended for consumer use. All loans subject to underwriting approval. Certain restrictions apply. Call for details. CrossCountry Mortgage, LLC. NMLS3029 (www.nmlsconsumeraccess.org). Equal Housing Opportunity.

Coeur d’ Alene, Idaho

Austin©/ Adobe Stock

America’s Hottest Housing Markets

Due to limited rights, this story is only available in

Three Utah cities make the The Wall Street Journal/Realtor.com EmergprintMarket issueIndex. of the Salt Lake Realtor® magazine. ingthe Housing

A copy of this article is available on the Wall Street Journal website but charges may apply.

By Nicole Friedman

The lakeside city of Coeur d’Alene, Idaho, tops the list of the country’s hottest emerging housing markets, according to the ranking. The Wall Street Journal/Realtor.com Emerging Housing Market Index ranks the 300 biggest metro areas in the U.S. The rankings look at which housing markets are expected to provide a strong return on investment—and are a nice place to live. After Coeur d’Alene, the top metro areas in the ranking are Austin, Texas, Springfield, Ohio, and Billings, Mont. Spokane, Wash., just across the state border from Coeur d’Alene, ranks fifth.

10 | Salt Lake Realtor ® | May 2021

Buyers from other Western states are moving to northern Idaho in droves, seeking a more rural and less expensive place to live, said Kristen Johnson, a real-estate agent at Century 21 Beutler & Associates in Coeur d’Alene. Workers able to work remotely are also choosing to relocate, she said. “Even though it’s a city, it’s definitely got those small-town values,” said Erin Evans, who moved in December to Coeur d’Alene from Forest Grove, Ore., after her husband Will got a job at a nearby hospital. “People are friendly. Right

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now, I’m looking out my window and I see my neighbor’s kids playing outside. You feel that it’s a little more safe.”

News Corp, parent of The Wall Street Journal, operates Realtor.com. Some buyers have been drawn to Coeur d’Alene’s more relaxed Covid-19-related restrictions, said Lea Williams, associate broker ® International Realty at Tomlinson Sotheby’s in Coeur d’Alene. Students in Coeur d’Alene public schools have been able to attend school in person at least part-time all year, according to a spokesman for the school district.

Due to limited rights, this story is only available in the print issue of the Salt Lake Realtor magazine. The median sales price in the Coeur d’Alene A rose copy of tothis article is available on the Wall Street region in March $476,900, up 47 percent from a year earlier, according to the Coeur Journal but charges may apply. a d’Alene Associationwebsite of Realtors . Finding They bought a three-bedroom house in November that includes a downstairs apartment, which they plan to rent out for extra income.

home to buy in the metro area of about 166,000 is getting tougher: Inventory of homes for sale shrank by 71 percent to just 337 homes. That amounts to less than a month’s supply.

“That’s not enough to go around—therefore, every listing gets 30 offers,” Ms. Johnson said. “Since the pandemic, our market has been crazy.” About 70 percent of page views on Coeur d’Alene property listings came from outside the state in the first quarter, up from about 66 percent a year earlier, according to Realtor.com. The top metro areas for interest in Coeur d’Alene listings were Seattle, Spokane and Los Angeles.

12 | Salt Lake Realtor ® | May 2021

The Panhandle Health District lifted a mask mandate for five counties in northern Idaho last month, and Coeur d’Alene’s school board voted this month to lift its mask requirement for students and staff. Kootenai County, where Coeur d’Alene is based, had 105.6 Covid-19 cases per 1,000 people as of April 19, in the top half of counties in the U.S., according to a Wall Street Journal analysis of Johns Hopkins University data. Coeur d’Alene is also a popular second-home and luxury market owing to the area’s natural beauty and access to outdoor activities, such as

skiing and water sports. That has helped boost the number of high-end sales. In the first two months of the year, 67 homes in the area sold for $1 million and above, up from 12 sales in that price range in the first two months of 2020, Ms. Williams said. There are downsides to the runup in housing prices, especially for locals who may struggle to compete with out-of-state buyers who have higher budgets. New residents who recently sold homes in more expensive markets such as Seattle and Los Angeles are often able to buy homes in Coeur d’Alene in cash. That threatens to price out some professionals the city needs. “It will prove increasingly difficult to attract teachers to our school district if they cannot find reasonably priced housing here,” said Scott Maben, spokesman for Coeur d’Alene Public Schools. “We are greatly concerned.” The Wall Street Journal/Realtor.com Emerging Housing Market Index ranks the 300 biggest metro areas in the U.S. In addition to housingmarket indicators, the index incorporates

economic and lifestyle data, including unemployment rate, wages, commute time and small-business loans. Coeur d’Alene had a 4.3 percent unemployment rate in February, compared with 6 percent nationally, and average weekly wages of $824 in the third quarter of 2020, compared with $1,173 nationally. Home prices in the top 10 markets in the index have risen 27 percent on average in the past year, outpacing a 14 percent nationwide rise, said Danielle Hale, chief economist at Realtor.com. The 10 top areas in the index also had a higher proportion of their home-shopping traffic come from buyers outside those metro areas, compared with the market as a whole, Ms. Hale said. “Home buyers are broadening their search horizons in a way they haven’t before,” she said. Reprinted by permission of The Wall Street Journal, Copyright © 2021 Dow Jones & Company, Inc. All Rights Reserved Worldwide. License number 505838056347. The Wall Street Journal/ Realtor.com Emerging Housing Market Index on page 14.

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May 2021 | Salt Lake Realtor ® | 13

WSJ/Realtor.com Emerging Housing Markets Index

Due to limited rights, this story is only available in the print issue of the Salt Lake Realtor magazine. 51 Provo-Orem Utah 1 Coeur D’Alene Idaho A copyRock of this article on the 52 Jefferson City Wall StreetMissouri 2 Austin-Round Texas is available 53 Salt Lake City Utah 3 Springfield Ohio charges may Journal website but apply. 54 Worcester Massachusetts-Connecticut 4 Billings Montana Metro areas ranked according to real-estate market data and economic health. Ranking is as of April 2021 ®

5 Spokane-Spokane Valley Washington 6 Lafayette-West Lafayette Indiana 7 Reno Nevada 8 Concord New Hampshire 9 Manchester-Nashua New Hampshire 10 Santa Cruz-Watsonville California 11 Burlington North Carolina 12 Akron Ohio 13 Eureka-Arcata-Fortuna California 14 Appleton Wisconsin 15 Modesto California 16 Prescott Arizona 17 Columbus Ohio 18 Sacramento-Roseville-Arden-Arcade California 19 Madison Wisconsin 20 Columbia Missouri 21 Boise City Idaho 22 San Luis Obispo-Paso Robles Arroyo Grande California 23 Johnson City Tennessee 24 Yuba City California 25 Toledo Ohio 26 Rochester New York 27 Buffalo-Cheektowaga-Niagara Falls New York 28 Greenville North Carolina 29 Visalia-Porterville California 30 Vallejo-Fairfield California 31 Boulder Colorado 32 Colorado Springs Colorado 33 Ogden-Clearfield Utah 34 Fort Wayne Indiana 35 Janesville-Beloit Wisconsin 36 Gainesville Georgia 37 Oshkosh-Neenah Wisconsin 38 La Crosse-Onalaska Wisconsin-Minnesota 39 Elizabethtown-Fort Knox Kentucky 40 Trenton New Jersey 41 Fresno California 42 Killeen-Temple Texas 43 Bremerton-Silverdale Washington 44 Waco Texas 45 Salinas California 46 Canton-Massillon Ohio 47 North Port-Sarasota-Bradenton Florida 48 Yakima Washington 49 Portland-South Portland Maine 50 Elkhart-Goshen Indiana

55 Stockton-Lodi California 56 St. Cloud Minnesota 57 Topeka Kansas 58 Yuma Arizona 59 Tampa-St. Petersburg-Clearwater Florida 60 Grand Junction Colorado 61 State College Pennsylvania 62 Tucson Arizona 63 Olympia-Tumwater Washington 64 San Jose-Sunnyvale-Santa Clara California 65 Harrisburg-Carlisle Pennsylvania 66 Roanoke Virginia 67 Providence-Warwick Rhode Island-Massachusetts 68 Phoenix-Mesa-Scottsdale Arizona 69 Salem Oregon 70 Pensacola-Ferry Pass-Brent Florida 71 Fayetteville North Carolina 72 Ann Arbor Michigan 73 Dayton Ohio 74 Jacksonville North Carolina 75 Oxnard-Thousand Oaks-Ventura California 76 Allentown-Bethlehem-Easton Pennsylvania-New Jersey 77 Durham-Chapel Hill North Carolina 78 Charlotte-Concord-Gastonia North Carolina-South Carolina 79 Knoxville Tennessee 80 Grand Rapids-Wyoming Michigan 81 Eugene Oregon 82 Kennewick-Richland Washington 83 Monroe Michigan 84 Fayetteville-Springdale-Rogers Arkansas-Missouri 85 Merced California 86 Pueblo Colorado 87 Albuquerque New Mexico 88 Lancaster Pennsylvania 89 Muskegon Michigan 90 Naples-Immokalee-Marco Island Florida 91 Bend-Redmond Oregon 92 Burlington-South Burlington Vermont 93 Boston-Cambridge-Newton Massachusetts-New Hampshire 94 Blacksburg-Christiansburg-Radford Virginia 95 Wilmington North Carolina 96 Fort Collins Colorado 97 Warner Robins Georgia 98 Dallas-Fort Worth-Arlington Texas 99 Greensboro-High Point North Carolina 100 Santa Maria-Santa Barbara California

Spokane, Washington / Image licensed by Ingram Image 14 | Salt Lake Realtor ® | May 2021

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Why RPAC Matters In the last legislative session, the government affairs staff worked closely with Representative Ray Ward to draft HB 82 which established a statewide ADU policy. By Nigel Swaby Some people don’t realize it, but real estate is one of the most regulated industries in this country. In fact, it’s regulated at every level of government from Washington, D.C., to the smallest towns in the nation. Not only is our industry regulated, but our product is too! From building materials to energy to zoning to signage, every aspect of our business in real estate has governmental rules to follow.

in government relations at every level. The vehicle our industry uses is RPAC (Realtors® Political Action Committee). RPAC donations are distributed for use at the national, state and local board level. RPAC funds are used to donate to candidates who support our issues which helps establish relationships with elected officials. They’re also used to fund research grants on topics like impact fees and affordable housing.

Almost every real estate adjacent business faces the same sort of regulatory scrutiny. Appraisers, lenders, builders, title, home inspectors and insurance are all subject to an array of rules and regulations to help protect our clients.

As the chair of the Elections Subcommittee at the Salt Lake Board of Realtors®, I see firsthand how RPAC funds benefit our industry. While not every candidate we support will win, the interview process we go through allows us to meet just about every elected official and share our thoughts on housing issues as well as understand what their thoughts are.

It’s no surprise then that our boards and associations across the country invest heavily

18 | Salt Lake Realtor ® | May 2021

Developing those relationships allows us to have some influence when big issues are decided. Last year as Covid-19 rapidly grew, states and localities instituted different lockdown measures ultimately creating classes of “essential” and “non-essential” business types. In Pennsylvania, real estate transactions were curtailed because of Covid. In Utah, our government affairs departments worked hard with leaders at all levels to ensure housing, one of human’s greatest needs, could continue in a safe and responsible way. While our Covid response is a recent emergency example, some of the work that gets done involves longer, strategic measures. In addressing affordable housing, one of the key tools many politicians point to is accessory dwelling units. Despite their like of this type of housing, few ADUs are constructed each year; certainly not enough to begin to address the housing shortages our state faces. In the last legislative session, our government affairs staff worked closely with Representative Ray Ward to draft HB 82 which established a statewide ADU policy to allow more of these needed housing types to be

constructed. It even provided funding for those homeowners who want to build them and rent to tenants in lower income levels. As our real estate market becomes more heated, it’s even more critical for our industry to have meaningful relationships with government officials. For those of us who have been in the industry for a while, we vividly remember the aftermath of the 2007-09 housing crash. When all the dust had settled from that debacle, government added more regulation to the lending and real estate industries; policies that still affect those industries today. Over the course of the year, we remind members of the importance of RPAC and ask for investments. Our next big drive comes during annual dues renewal. Please help us continue to maintain good relations with the people who regulate our industry. Donate to RPAC with your 2021 dues renewal. Nigel Swaby is the Government Affairs Committee vice chair and elections chair.

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May 2021 | Salt Lake Realtor ® | 19

4 Emerging Real Estate Trends Most industry leaders believe the inherent attraction of real estate income is even stronger this year than in pre-COVID times. By Melissa Dittmann Tracey The COVID-19 pandemic has caused a mass disruption to the way people live and work and prompted sweeping economic fallout felt throughout the world. Global leaders are still coming to grips with the long-term impact to the real estate industry. COVID-19 has accelerated many existing trends, including digitalization, dispersed working, and online shopping, panelists said at a webinar on Wednesday highlighting the Urban Land

20 | Salt Lake Realtor ® | May 2021

Institute’s newly released “Emerging Trends in Real Estate Global Outlook 2021” report. “The industry leaders canvassed for Global Emerging Trends are hopeful of a consumerspending-led economic recovery feeding through an uptick in real estate business in the second half of 2021,” the report notes. “But much will depend on the rollout of the vaccine and an easing of lockdown restrictions.” The Asia Pacific region appears to be leading the

dynamics have led investors to increase their allocation to residential markets, a trend that has only been accelerated by the COVID-19 outbreak, the report notes. Unknowns loom for the office sector. The office sector, however, is more difficult for real estate leaders to predict. The rise of remote working, the increasing concern for the health and wellbeing of employees, and the lessening appeal of long commutes in big cities could negatively impact leasing activity this year and next year. Many large firms could delay corporate decisions on office space, or commit to a greater reliance on remote working. Many real estate leaders do predict employees will eventually return to the office, even if in more of a “hybrid” working model. One area of growth for the office sector: flexible space. (Read more: CoWorking Spaces May Soon See a Surge in Activity) “Industry leaders predict a polarization between perceived high-quality buildings—modern and adaptable—and outdated and inflexible secondary stock that is likely to suffer from a marked decline in demand,” the report notes.

recovery globally compared with many Western economies, researchers note. That has prompted more global investors to increase their allocations of capital to the region. But the U.S. is also posting growth to many of its real estate sectors and seeing some evolve to better compete in the post-pandemic world. Here are a few of the trends highlighted in ULI’s report that are on the radar for global real estate markets: Real estate continues to attract capital. Low interest rates are fueling interest in real estate across the globe. “Most industry leaders interviewed for this report believe the inherent attraction of real estate income is even stronger this year than in pre-COVID times,” according to the ULI report. Favorable supply-demand

ESG tops more agendas. The impact of carbon emissions from the built environment remains a pressing issue for more companies, and they’re placing a greater emphasis on environmental, social, and governance agendas. “Though decarbonization and climate change have been rising up the agenda for years, it is only in the past 18 months that these issues have moved to the foreground of the industry’s thinking,” the ULI report notes. “So far, the pressure is coming from the providers of finance and the biggest tenants. There is, though, the expectation that governments will ramp up regulation in the coming years.” More companies are showing a greater focus on putting into place strategies with decarbonization and realizing the consequences of carbon emissions from their buildings. Re-imagined retail. The physical brick-andmortar retail sector has faced the increasing threat of online competition—even more so since the pandemic. But investors are not shying away from seeking out new opportunities in retail, particularly as they view some falling prices in the sector. As such, retail could be acquired and repositioned either as more usable retail formats or re-envisioned as something completely different, such as residential or urban logistics. Reprinted from Realtor® Magazine Online, April 2021, with permission of the National Association of Realtors®. Copyright 2021. All rights reserved.

May 2021 | Salt Lake Realtor ® | 21

8 Ways to Make Yourself a More Likable Agent Master these behaviors to endear yourself to your clients in a deeper manner. By Melissa Dittmann Tracey Being a nice person certainly helps when cultivating business relationships, but it takes more than a warm smile to curry the favor of prospects. Likable people possess certain traits you can adopt to make yourself more endearing to those you hope will become your next client. But don’t underestimate others’ ability to pick up on feigned sincerity and genuineness. Emotional intelligence—comprising skills such as self-awareness, self-management, social awareness, and relationship management—is not only innate but can, in fact, be taught and developed, according to research by Travis Bradberry, coauthor of Emotional Intelligence 2.0. Bradberry has developed an emotional intelligence test, which reveals specific areas users need to work on. “Becoming cognizant of your gestures, expressions, and tone of voice— and making certain they’re positive—will draw people to you like ants to a picnic,” Bradberry said. “Our research shows that people who possess these skills outperform those who don’t by a large margin.” You know that watching your body language and being aware of your facial expressions will have

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an impact on the quality of the connection you strive to make with new clients. Go deeper to truly become more likable with these eight tips on emotional validation (which are backed up by scientific research). Say the prospect’s name repeatedly throughout the conversation. “A person’s name is, to him or her, the sweetest and most important sound in any language,” according to author Dale Carnegie in his book How to Win Friends and Influence People. Make a habit of starting and ending conversations using a potential client’s name, such as: “It’s nice to see you, Jane,” or “It was nice talking with you, Jane.” When you say a person’s name, you demonstrate both interest and respect for them. Give them the floor to speak first. Encourage your prospects to tell you about themselves and their situation before you tell them about yourself. Research has shown that when people talk about themselves, it creates neurological changes in the brain that can make them more receptive to your message. “Once

those feel-good neurotransmitters are flowing and people start feeling connected to you, they’re much more likely to take you and your contributions seriously,” Bradberry said. Mirror their body language. It’s often done unconsciously, but try to subtly adopt the posture, gestures, or vocal qualities of the person you’re speaking with. When two people mirror each other’s body language, it often means a bond has been formed. For example, if your prospect leans her head to the side as she’s talking, try doing the same. “It’s a sign that the conversation is going well and that the other party is receptive to your message,” Bradberry said. “This can be especially useful when you’re negotiating because it shows you what the other person is really thinking about the deal.” But don’t make it obvious you’re copying other’s body language; it can make them suspicious, researchers say. Don’t focus on proving your competence. You may think gaining trust is about showing people your knowledge of the market and that you “know your stuff” as a real estate professional. The truth is that smarts and talent often are secondary to emotional cues in clients’ eyes. Others can perceive you as manipulative if you stress your competence before establishing warmth and trustworthiness, according to a study by a Harvard Business School researcher. Instead, make time for chit-chat, and focus on finding something you have in common with a prospect. When two people find common ground, they begin to like each other by gut instinct, researchers noted. You’re drawn to those who share similar interests to you, and those similarities help you build a powerful bond with one another. Offer a favor that won’t immediately increase your bottom line. Listen carefully for the problems your prospects need solutions to—whether it’s related to real estate or not—and think of a quick favor you could do for them (that doesn’t require anything in exchange) to help them and add value to your relationship, said Adam Grant, author of Give and Take: Why Helping Others Drives Our Success. Perhaps you could recommend or get an estimate from a handyman or painter for a prospect who’s struggling with a renovation. Though it’s related to real estate, such a favor is not linked to an immediate business need of yours, so it appears more good-natured. Salespeople who use this giving approach earn 68 percent more revenue than those who take, i.e. put their own ambitions first, according to research in Grant’s book. (Find

out more about how the power of giving is good for your business.) Ask questions that require a longer, thoughtful response. Open-ended questions or questions asking for clarification show the prospect that you’re listening and you care about their responses. If you mostly ask simple “yes” or “no” questions, on the other hand, it shows you’re only interested in need-to-know information that will lead to a sale quickly. “People like to know you’re listening,” Bradberry said. “You’ll be surprised how much respect and appreciation you gain just by asking questions.” Show you have interests outside of real estate. Being absorbed with one topic area can make you appear uninteresting. “Likable people balance their passion for their work with their ability to have fun,” Bradberry said. “At work, they are serious yet friendly. They still get things done because they are socially effective in short amounts of time, and they capitalize on valuable social moments. They focus on having meaningful interactions with their coworkers, remembering what people said to them yesterday or last week, which shows people that they are just as important to them as their work is.” Validate people’s complaints. You don’t have to agree with everything another person said, but making others feel heard and understood will make you more approachable. If a prospect or coworker complains, say, “I’m sorry—I can only imagine how you feel.” Such validation is a powerful way to build a connection, Bradberry said. It gives the other person a sense of empowerment and tells them you’re a nonjudgmental person they can work with. “Having an open mind is crucial in the workplace, where approachability means access to new ideas and help,” he said. Take a critical look at your interactions. How do others really perceive you? “Most of us are putting the blinders on and not taking a look at the things we need to change because we think it isn’t going to do us any good,” Bradberry said. “The trick is to practice self-awareness to the point where you recognize your insincerity in a conversation. Then you’ll be able to adjust accordingly.” Melissa Dittmann Tracey is a contributing editor for REALTOR® Magazine. She can be reached at mtracey@nar.realtor. Reprinted from Realtor® Magazine Online, June 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

May 2021 | Salt Lake Realtor ® | 23

Spa-Inspired Bathrooms are En Vogue With more homeowners looking for ways to pamper themselves at home, here are nine ways bathroom makeovers are mimicking aspects of hotels and resorts. By Barbara Ballinger With many homeowners continuing to spend more time at home, they’re not only seeking comfort in their kitchens, offices, and outdoor spaces—they’re also updating their master bathrooms to create a spa-like retreat. Looking to hotels and resorts for inspiration, homeowners are incorporating large showers with multiple faucet sprays, heated floors and towel racks, separate toilet rooms, soothing color palettes, and more, said Mary Cook, founder of the Chicago interior architecture and design firm, Mary Cook Associates. “Dual-income, well-educated millennials are driving a desire for more bells and whistles, yet they’re choosing ones that are also practical and add value and worth,” she said. The most common choices involve sophisticated

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technology, lower-maintenance materials, and aesthetics found elsewhere in their home. Not surprisingly, costs add up, but many designers like Denise Benach, director of interior design for Chicago builder Lexington Homes, find that homeowners are willing to spend more on bathrooms. An average remodel now hovers between $10,000 and $25,00, according to HomeAdvisor. Real estate pros should inform buyers about what’s available so they can get the look and function they want within their budget. 1. Increasing the bathroom footprint. When houses are built or master bedroom suites added, one goal may be to gain more space. But sometimes that’s a challenge. According to a

2020 Houzz survey, the online decorating source, only 20 percent of homeowners increased the bathroom’s size during a renovation. Designer Sharon McCormick, whose eponymous firm is in Hartford, Conn., said some homeowners want space for seating, which reflects the role of the bathroom as more than its functional space. Jodi Swarz, head of KitchenVisions in the Boston area, is also witnessing homeowners trade extra bathroom space for an adjacent closet or maybe a dressing room. 2. Bigger, yet simpler showers. Although a larger, better outfitted shower increases a bathroom remodeling cost threefold, adding up to $14,000, according to the Houzz report, it’s still a feature most homeowners want. Boston-area designer Diane Burcz said her clients want a walk-in shower design. Showers with a curb and linear drain may be about 69 inches wide and 66 inches deep, while those without may be a smaller 52 inches wide and 45 inches deep. Within the shower, many want to add a built-in or portable bench and smart-home plumbing fixtures that personalize the water experience. For example, they might incorporate one or two oversized rain heads that can turn on to a specified temperature and flow, said Burcz. Broker Millie Rosenbloom, with Baird & Warner in Chicago, who’s selling condos at a new mixeduse development, Parkline Chicago, agreed. “The new designs offer triple the volume of water as the old-fashioned ones did,” she said. Besides a rain head, they may want a hand-held wand. And if the homeowners are a couple, they each may have a different wish list, McCormick said. Some showerheads offer aromatherapy with different scents in the same way you choose your favorite coffee K cup, said JT Norman, business development design and innovation at Elements, the bathroom division at Nazareth, Pa.-based Kitchen Magic.

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Overall, the shower look is cleaner with fewer fixtures lining walls, Burcz said. “People no longer want 14 heads to give them the effect of a car wash that blasts them from all sides and uses too much water, as some states mandate usage,” said William Strang, president of operations and ecommerce at TOTO USA. 3. Tubs with sculptural designs. Rumors of the tub’s demise have turned out to be exaggerated. Those who have the space often want one of the newer sculptural freestanding models. Many designers find these tubs represent an artistic status symbol, says architect William Ramsey, AIA, with KTGY Architecture + Planning’s Denver office. However, Swarz is among the designers who tries to talk clients out of them since she finds they are hard to get into and out of and not comfortable for resting arms or setting toiletries. If clients want a tub, a more practical option is a drop-in model set against a wall so a ledge can be included. For those seeking something extra, choose a model with jets and lights for chromotherapy. 4. Separate vanities and storage. The clutter-free look is in, which means there’s a desire for more storage to stash stuff like workout clothes, hairdryers, and electric toothbrushes. More designers are creating separate storage areas for couples who share bathrooms, said Rosenbloom. Chicago designer Susan Brunstrum of Studio Brunstrum said homeowners can do their part by editing what they bring into the room. “Do you really need four bottles of shampoo and five conditioners?” she asked. Some designers also like to raise cabinetry off the floor to make heating and cleaning easier. Having two vanities or sinks has become a must(continued on page 30)

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MARCH HOUSING WATCH Demand for Housing Remains at Record Levels as Utah’s Population Swells Lower housing inventory levels led to fewer home sales in the first quarter, but demand for homes remains at record highs. Across the fivecounty Wasatch Front area, there were 7,703 overall home sales (all housing types) in the first quarter, down 3 percent from 7,978 sales in the first quarter of 2020. In March, home sales (all housing types) in Salt Lake County increased to 1,381 sales, up 5 percent year over year. Pending sales (under contract) climbed to 1,591, up 20 percent from March 2020. “More new housing is needed to meet overwhelming buyer demand,” said Matt Ulrich, president of the Salt Lake Board of Realtors®. “In April, the Census Bureau reported that Utah was the fastest-growing state since 2010. More than 500,000 people were added to our population over the past decade. Going forward, we expect those numbers to accelerate.” In Salt Lake County, single-family sales were down 1 percent year over year in the first quarter. Tooele County sales were down 4 percent. Utah County saw sales fall 7 percent. Davis singlefamily sales dropped 16 percent. Weber County witnessed the biggest decline at 18 percent. While single-family sales fell, sales of condominiums, townhomes, and twin homes increased in two of the five Wasatch Front counties. In Salt Lake County, multifamily sales were up 12 percent. In Weber County, sales of condos and townhomes soared to 199 units, up 52 percent. Home prices continued to rise rapidly. In Salt Lake County, the median single-family home price in the first quarter climbed to $468,000, up 17 percent ($68,000) from a year earlier when the median price was $400,000. Utah County’s median single-family home price was the second highest on the Wasatch Front at $450,000, up 20 percent from the first quarter of 2020. Davis County posted a median price of $430,000, up 21 percent year over year. Tooele County’s median price increased to $360,000, up 18 percent. Weber County’s median price rose to $340,000, up 23 percent from a year ago. The overall median home price (all housing types) of the five-county Wasatch Front area was $395,000, up 17 percent from $339,000 a year ago. Wasatch Front homes were on the market a median of five days in the first quarter, down from 28 days in the first quarter of 2020. Cash sales of homes on the Wasatch Front increased to 15 percent in the first quarter, up from 10 percent in the same period in 2020.

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May 2021 | Salt Lake Realtor ® | 29

Spa-Inspired Bathrooms (continued from page 26) have, said Tim Bakke, director of publishing at The Plan Collection, an online home and design company. An alternative is to use one oversized version that resembles a trough with two faucets, said Norman. For mirrors, Swarz may incorporate a thin bar of light on one side or all around rather than use separate lights above; or she may frame the mirrors like artwork. Because of bathroom chemicals, Rosenbloom prefers quartz to granite and marble for a countertop. 5. More lighting. The brighter the better these days, particularly when the source is natural light. Some of the Parkline Chicago condominiums have floor to ceiling windows that offer sweeping city and lake views. Skylights or transom windows are another option, said Lynn Schrage, marketing manager, online bathroom design services, for Kohler Co. For artificial light, LEDs are showing up, often in a warm 2700 Kelvin temperature, said Ramsey. Most lighting plans feature multiple layers with recessed cans—including two in a shower or over a tub. One seemingly universal choice is putting all lamps (bulbs) on dimmers to create different experiences. 6. Larger tiles and bolder accents. While the most popular palette remains neutral and spa-like—which helps avoid dating a room, Cook said, the specific hues have shifted to warmer greiges, a combination of gray and beige, said Gena Kirk, vice president of the Corporate Studio at Los Angeles-based KB Home. Colorful accent colors have emerged, such as navy and emerald green, particularly along an accent wall, said Ramsey. The biggest change in color is touches of black in hardware, lighting, fixtures, or shower enclosures. “It offers a dramatic and expensive looking accent,” said Kirk. Ramsey has also mixed black with different metals. But homeowners should be aware that the black trend may have a short shelf life, Strang cautioned. Many designers also incorporate larger format tiles as big as 24 inches by 24 inches as another accent. They offer the plus of being able to be cleaned easily since they require less grout. New hexagonalshaped tiles have become popular, though Ramsey thinks this look, too, already is fading. 7. Smart toilets and bidets. Several trends are gaining momentum: installing a toilet from the wall rather than the floor, concealing the tank in the wall, and adding a commodes cubicle or closet, said Schrage.

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Wall mounted designs leave more floor space and make it easier to clean underneath. At some luxurious developments such as Mesa Ridge in Las Vegas, Ramsey said two toilets are commonplace. Due to the larger boomer population, higher or comfort-level ADA toilets have gained interest. The paper toilet shortage at the start of the pandemic also led to greater interest in bidets. Some companies like TOTO USA and Kohler have designed seats that can fit onto an existing toilet, and the latest technology offers features to dry, deodorize, heat the seat and water, have the water pulsate or oscillate, spray a bowl clean after every use, conserve water, and open and close a lid automatically. 8. Speakers and other smart features. The trend for including a TV in the bathroom for news and entertainment is fading as interest turns to smart speakers for playing music and podcasts. Touchless faucets, which have become commonplace in commercial settings, are starting to gain popularity in homes, too, said Schrage. 9. Touches of nature. It’s become well known that nature offers a soothing touch and a sense of healthfulness. Brunstrum suggests bringing in a live plant or two and maybe using a botanical print wallpaper that can hold up to water and moisture. Wallpaper is usually an accent in one area, such as a toilet room. A final must have is a good ventilation system to pare humidity, Schrage said. 5 Quick Tips for a New, Hipper Shower 1. Smart shower devices let each user set the temperature they desire. 2. Steam features add to the spa-like experience, said Swarz. 3. Some homeowners want the shower and tub to be part of an open “wet room,” a Japanese design concept. 4. A heated shower floor provides added luxury, said Rosenbloom. 5. Despite the larger “super” shower trend (especially when homeowners forego the tub), some are paring their showers to 48 inches wide by 60 inches deep to retain heat, said Ramsey. Barbara Ballinger is a freelance writer and the author of several books on real estate, architecture, and remodeling, including The Kitchen Bible: Designing the Perfect Culinary Space (Images Publishing, 2014). Reprinted from Realtor® Magazine Online, April 2021, with permission of the National Association of Realtors®, Copyright 2021. All rights reserved.

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