Issuu

IT ALL HAPPENS HERE

LIVE CELEBRATE

HERE

It’s time to celebrate the sights and sounds of the season at City Creek. Whether it’s a festive holiday concert at Abravanel Hall, a stroll with friends and family to see the lights or last minute shopping for gifts, when you live at City Creek you’re in the middle of it all! Call today to schedule a tour of our designer model homes.

99 WEST

•

RICHARDS COURT

•

THE REGENT

CityCreekLiving.com | 801.240.8600

The Perfect Place Where All Listings are Yours

Our free app for you & your clients displays up-to-date MLS listings without any of your competitors! You are the contact on every listing, so it really is the perfect place for your clients to shop. Get your personalized app today. snmc.com/SNappAgent

SecurityNational Mortgage Company complies with Section 8 of RESPA and does not offer marketing services in exchange for referrals or the expectation of referrals. This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice. SecurityNational Mortgage Company is an Equal Housing Lender. Company NMLS# 3116.

Table of Contents Features 10 Reaching High for RPAC Dave Anderton 12 Don’t Let Mortgage Rates Throw You Off Course

John N. Frank

18 5 Issues You Face When Inheriting a House

Alex Lehr 20 New Living Rooms for Everyday Life Barbara Ballinger 24 How to Kill Your Credibility Seth Price 30 Agents Lean on Their Brokers for Tech Tools

Erica Christoffer

Columns 7 Affordable Housing is Key to

Continuing Economic Growth

Adam Kirkham – President’s Message

Departments 8 Happenings 8 In the News 26 Housing Watch 28 Realtor® Connections 28 On the Move

On the Cover: Photo: Dave Anderton

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.

Salt Lake

REALTOR slrealtors.com

Maga zine

November 2018 volume 78 number 11 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.

Give Yourself a Raise in 2019 AMAZING MARKETING BEST TECHNOLOGY AWESOME SUPPORT FUN COOLTURE CRAZY COMMISSIONS

YOU MATTER MOST

... Yeah, it’s that good! Join our team of over 120 real estate professionals who have discovered the secret to a happy real estate career...

Join The

UN-Brokerage

take care of your family before your broker.

(435) 830.4552 or (801) 633.1990 www.jointheunbrokerage.com

HOMES • LIVES • DREAMS

TOP1%

FOUNDED IN

may 2005

DEBT

FREE

RE A

IN THE NATION

NE GROU YO P LT

ANTEE W GUAR WOW NO UN

7 YEARS

I N C U B AT O R O F I D E A S

RECOGNIZED BY:

DRAPER & ST. GEORGE OPENING 1ST QUARTER 2019

CARES

brok er

Work with a renovation expert Get your clients the right home in the right neighborhood at the right price. Expand the selection of potential homes that fit your clients’ needs Salvage deals with problem appraisals Broaden your pool of available buyers and sellers Work with a dedicated Renovation Specialist who is solely focused on your loans

Set yourself apart and close more deals with renovation loans.

Julia G. Borst SVP, Divisional Sales Manager

O: (801) 890-7660 C: (801) 362-7159 julia@rate.com Rate.com/juliaborst

9350 South 150 E., Suite 140 Sandy, UT 84070 Julia G. Borst NMLS ID: 275440; CA - CA-DBO275440, IL - 031.0038963, TX - 275440, UT - 5495305 • NMLS ID #2611 (Nationwide Mortgage Licensing System www.nmlsconsumeraccess.org) • CA - Licensed by the Department of Business Oversight, Division of Corporations under the California Residential Mortgage Lending Act Lic #4130699 • IL - Residential Mortgage Licensee - IDFPR, 122 South Michigan Avenue, Suite 1900, Chicago, Illinois, 60603, 312-793-3000, 3940 N. Ravenswood Ave., Chicago, IL 60613 #MB.0005932 • Utah - Licensed in UT: Utah-DRE Mortgage Entity License #7495184 & Utah-DFI Residential First Mortgage Notification – Utah Department of Financial Institutions Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google Inc. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.

Salt Lake

REALTOR

® ®

Maga zine

slrealtors.com slrealtors.com

President Adam Kirkham Summit Sotheby’s International First Vice President Scott Robbins Summit Sotheby’s International

Scott Colemere Colemere Realty Associates Kimberly Farber IMPOWER Real Estate Brian Gottfredson Coldwell Banker Residential Tony Ketterling Equity Real Estate

Second Vice President Alicia Holdaway Summit Sotheby’s International

Mike Morgan Realtypath

Treasurer Matthew Ulrich Ulrich Realtors®

Mary Olsen Utah Key Real Estate Jodie Osofsky Utah Key Real Estate

Past President Troy Peterson Equity Real Estate

Steve A. Perry Wise Choice Real Estate Sophie Reece Berkshire Hathaway

Directors Cheryl Acker Utah Key Real Estate

Michael Rowe Berkshire Hathaway

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

Managing Editor Dave Anderton Publisher Mills Publishing, Inc. www.millspub.com President Dan Miller Art Director Jackie Medina Graphic Design Ken Magleby Katie Steckler Patrick Witmer Office Administrator Cynthia Bell Snow

Sales Staff Paula Bell Karen Malan Paul Nicholas Chad Saunders Administrative Assistant Caleb Deane

Salt Lake Board: (801) 542-8840 e-mail: dave@saltlakeboard.com Web Site: www.slrealtors.com

Affordable Housing is Key to Continuing Economic Growth

alt Lake home prices are still rising at a rapid pace. According to a recent federal report, Utah ranked No. 4 among all states in home-price gains over the past year. Home prices in the Beehive state increased 11.3 percent in the second quarter (latest data available) compared to the second quarter of 2017. Only Nevada, Idaho and the District of Columbia saw larger percent increases. Nationally, home prices climbed 6.5 percent.

In the third quarter of 2018, the Salt Lake median single-family home price reached its highest point ever recorded at $355,000, a 9 percent rise from the third quarter of 2017, according to UtahRealEstate.com. According to a recent article by Natalie Gochnour, chief economist for the Salt Lake Chamber, Utah’s labor shortage combined with rising land costs, rising material costs and rising impact fees are pushing affordability further away for many home buyers. “The greatest challenge is for moderate- and low-income households,” Gochnour writes. “Households below the median income have a one-in-five change of facing a severe housing cost burden (paying at least 50 percent of hteir income toward housing).” Gochnour suggests cities should welcome a greater mix of housing types. “Cities should explore the benefits of inclusionary zoning ordinances, welcome accessory dwelling units and think twice about large lot zoning,” she said. “Cities should exercise restraint in impact and permit fee increases and work with builders to eliminate egregious policies.” Many working families are finding it harder to find housing that is affordable. If we are not careful, Gochnour said, unaffordable housing will impair our economic competiveness as a region and end the expansion.

Adam Kirkham President

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®. 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.

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

November 2018 | Salt Lake Realtor ® | 7

Happenings

In the News

Panel Addresses Legal Pitfalls of the Real Estate Transaction The real estate transaction is more complex than ever before. Last month a panel of legal experts talked about today’s most pressing challenges at the Board’s annual Education Conference. Issues discussed included wire fraud, cameras in the home, and an agent’s fiduciary duty. Pictured (left to right): Brad Bjelke, president and CEO of UtahRealEstate.com; Amanda Mendenhall, attorney at Snow Christensen & Martineau; Sam Bell, attorney at SEB Legal; Shane Norris, general counsel of Summit Sotheby’s International; Kreg Wagner, legal counsel of the Utah Association of Realtors®; Brian Swan, residential real estate attorney; and Curtis Bullock, CEO of the Salt Lake Board of Realtors®.

Top 10 Priciest ZIP Code Areas Salt Lake County home prices continued to climb in the third quarter of 2018, according to the Salt Lake Board of Realtors®. The median single-family home price in the July-through-September period increased to $355,000, up 9.2 percent year-over-year. The top 10 highest median prices in the third quarter by ZIP code area included: 1. Alpine (84004) $735,000, 2. Emigration Canyon (84108) $635,000, 3. Avenues (84103) $614,000, 4. Holladay (84117) $562,089, 5. Draper (84020) $541,836, 6. Holladay (84124) $505,000, 7. Eden (84310) $487,450, 8. South Jordan (84095) $477,000, 9. Sandy (84092) $474,750, and 10. East Millcreek (84109) $470,500.

8 | Salt Lake Realtor ® | November 2018

Commercial Real Estate Remains Strong While challenges face many of America’s commercial real estate markets, Realtors® specializing in the sector should have confidence for growth to remain steady in the coming year. That’s according to the sentiments of two economists who spoke at a commercial economic issues and trends forum at the November 2018 REALTORS® Conference & Expo in Boston. National Association of Realtors®’ Chief Economist Lawrence Yun was joined by Dr. Sean Snaith, Director of the University of Central Florida’s Institute for Economic Competitiveness, to discuss their outlook on the commercial real estate market. Both speakers agreed that the commercial real estate market has improved and that continued growth in the economy will accelerate leasing and property management activity. However, difficulties remain regarding regulatory issues and rising interest rates, they said. “The economy is strong and we are seeing solid job gains, with no triggers to cause an economic recession. The mix of rising interest rates has led to some uncertainty but the continued economic growth has the commercial market on solid ground,” said Yun. Commercial real estate prices are forecasted to decrease in response to the 93 percent price gains the market has experienced over the last eight years. Low interest rates have pushed Americans to invest in commercial real estate as borrowing costs remain low. Rising interest rates, however, will make buyers less willing to pay higher prices. Yun made clear that he does not expect a recession in 2019 as job creation continues, unemployment sits at 3.7 percent and consumer confidence remains at its highest level in over a decade. Yun said that sales transactions for commercial real estate are trending upwards as the Realtor® median dollar value of property deals is over $600,000. The median lease value was $215,000 in 2017 as multi-family constitutes nearly 50 percent of all commercial investment transactions.

Give YourClients the Gift of

HOME A SK ABOUT OUR

LIMITED-TIME

INCENTIVES!

David Weekley Homeowner Reid Fowler with Mickey

Your Clients will enjoy special incentives when they purchase a new home in the Salt Lake City area during our Holiday Savings Event between September 19 and December 31, 2018.

Unwrap the savings on your Clients’ new home by contacting 385-232-2999

See a David Weekley Homes Sales Consultant for complete details. Not valid with any other offer or on previously written contracts. Holiday Savings Event offer only valid for Homebuyers who purchase a David Weekley home in the Salt Lake City area between September 19, 2018, and December 31, 2018. David Weekley Homes reserves the right to terminate program or change rules at any time. Offer must be presented to Sales Consultant prior to the signing of the contract. Prices, plans, dimensions, features, specifications, materials or availability of homes or communities are subject to change without notice or obligation. Illustrations are artist’s depictions only and may differ from completed improvements. Copyright © 2018 David Weekley Homes – All Rights Reserved. Salt Lake City, UT (SLCA100730)

Photo: Dave Anderton

10 | Salt Lake Realtor ÂŽ | November 2018

Reaching High for RPAC Salt Lake is No. 1 in RPAC Investments Per Capita By Dave Anderton

he Salt Lake Board of Realtors® raises more money per capita for the Realtors® Political Action Committee than any other large association in the nation, according to the National Association of Realtors®. Salt Lake Realtor® magazine sat down with Marcus Jessop, government affairs director of the Salt Lake Board of Realtors®, and Matt Clewett, government affairs assistant to learn the reasons behind the success. Q: Talk about your 2018 RPAC goal? A: Matt: Our goal was to raise $410,000 for RPAC and get a 37 percent participation rate (37 percent of our members invested at least $15 or more to RPAC). We reached our participation rate in September and our RPAC fundraising goal in October. Q: The Salt Lake Board of Realtors has raised more than $410,000 in 2018 for RPAC. This amount represents nearly $55 per member, the largest amount per capita of all mega associations in the nation. How did you achieve this? A: Marcus: This has been a tremendous effort and the credit goes to our Realtors® who understand the importance of RPAC. Salt Lake Realtors® make RPAC a priority because they see the impact of local and national laws on the real estate profession. Q: Where does the $410,000 go? A: Matt: Thirty percent of the money goes to NAR to assist in national campaigns and issues at the federal level. The other 70 percent stays here in Utah to help with various local and state election issues. Q: Last year there were roughly 170 major investors (Salt Lake Board members who invested $1,000 or more to RPAC). How many major investors will there be in 2018?

A: Matt: This year we anticipate well over 200 major investors. Many of these major investors give more than $1,000 every year. A handful of our members have invested more than $50,000 over their lifetime. Pioneers like Gary Cannon, Jim Bringhurst, Dave Robison, H. Blaine Walker, and Craig Hawker have set a great example for other Realtors® to invest in their profession. Q: What is one event that stands out this year that contributed to your success in reaching your goal? A: Marcus: This year for the second year in a row we did our Hawaii Giveaway contest during membership dues. Realtors® who invested a minimum of $15 or more were entered into the contest. This giveaway raised more than $130,000 for RPAC in two months. Q: Who else deserves credit for helping you reach your RPAC goal? A: Marcus: Besides our members, a lot of the credit goes to our Board of Directors, our CEO Curtis Bullock, and Kelley Anderson, marketing director. Curtis has fostered a positive and friendly work environment that allows the creative thinking necessary to raise as much money as we did. Q: What’s next for 2019? A: Matt: We anticipate a higher RPAC goal next year and more legislative issues that could potentially impact the real estate profession. We will continue to advocate for Realtor®-friendly candidates who will ensure that Realtors® can conduct their business without undue and burdensome regulations. With our members’ participation we anticipate 2019 to be an exciting and record breaking year. Dave Anderton is communications director of the Salt Lake Board of Realtors®.

November 2018 | Salt Lake Realtor ® | 11

©monsitj/ Adobe Stock

Don’t Let Mortgage Rates Throw You Off Course Higher borrowing costs may prompt buyers and sellers to rethink their real estate plans, but you can help them find a workaround to achieve their goals. By John N. Frank

or three months, Koki Adasi worked hard to help his buyer find the perfect one-bedroom condo on Capitol Hill in Washington, D.C. Finally, in the spring, the right listing emerged for $450,000, slightly above the buyer’s budget. Adasi, CRS, SRS, was able to negotiate a $20,000 discount on the price, and his client was prepared to move forward on her first home purchase— until she got a jolt from her lender. Although the buyer, who works as a corporate senior manager, had been preapproved for a mortgage, interest rates had gone up one-eighth of a percentage point since she began her home search in early January. The new rates would have added $25 to her monthly mortgage payments— an extra $300 a year—which made her think twice about the purchase. Pushed to the edge of her financial comfort zone, Adasi’s client eventually walked away from the deal. “Many buyers have a certain lifestyle they

12 | Salt Lake Realtor ® | November 2018

want to preserve and a comfort zone set in their minds,” said Adasi, a team leader who recently moved to Compass Real Estate. “The issue [for this buyer] really wasn’t about money. She could afford a significantly higher price range, but she had a modest comfort zone that she wanted to stay in.” As mortgage rates hover just below the 5 percent mark, ending an era of the lowest averages in modern U.S. history, some buyers, especially first-timers, are feeling the strain in their pocketbooks. The hikes also may convince would-be sellers to stay put and hold onto their current rates rather than move up to a higherpriced home with a costlier rate. In turn, that could further exacerbate tight inventory. All of this means real estate professionals need to develop strategies for helping clients adjust their expectations so they can remain in the real estate game as the costs of buying rise. Qualified

MEET OUR NEWEST AGENTS Summit Sotheby’s International Realty is excited to introduce the newest members of our team. It takes extraordinary agents to maintain our brand vision and definition of luxury: high quality service, knowledge and an experience that every client receives regardless of area, size of home or price point. Another reason why Summit Sotheby’s International Realty is like no other.

SEAN TAYLORBAUMANN

JAKE TAYLORBAUMANN

DAVE MALTBY

DIANA McINTYRE

© MMXVIII Sotheby’s International Realty Affiliates, Inc. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company. Each office is independently owned and operated. Copyright© Summit Sotheby’s International Realty 2018.

CHAD AUSTIN

LAURA FIDLER

LINDSAY TRIPP

summitsothebysrealty.com

Image licensed by Ingram Image

buyers might look into FHA loans and other mortgage products with lower rates and down payment requirements, said Tracy Anderson, a broker with Prime Real Estate in Hobart, Ind. But whatever advice you give, it’s important to communicate the need to make decisions quickly once a rate locks in. “The longer you wait, the more expensive it’s going to be,” said Brant Tullidge, a sales associate with RE/MAX Commonwealth in Richmond, Va. Of course, speeding up the buying process to lock in rates may cause inconveniences for many of your clients. If your buyers are renters making the switch to homeownership, for example, see whether they can arrange a month-to-month or short-term lease while searching for homes, said Jeff Miller, co-founder of AE Home Group in Baltimore. It gives them more time while also encouraging faster decision-making. It’s also smart to prep buyers early about negotiating their must-have list, said Jessica Murphy, a sales associate with Julia B. Fee Sotheby’s International Realty in Irvington, N.Y. You don’t want to spend precious time grappling with unrealistic expectations when daily movement in mortgage rates could price your client out of the market. Murphy talks with her buyers about location most of all, encouraging them to focus on areas farther outside New York

14 | Salt Lake Realtor ® | November 2018

to find cheaper homes that meet their criteria. The point is that the lower the sales price, the more clients can withstand upward pressure on mortgage rates. “And a longer commute translates into lower prices,” Murphy said. Your buyers may well become sellers down the road, and no one can predict where mortgage rates will be at that point. Even if rates aren’t the biggest issue on their minds now, have your clients consider how future mortgage rates could impact their sale. With further hikes expected this year and beyond, buyers may want to choose a property they can envision staying put in for several years. Though sellers may ask for a flexible closing timeline as they search for another home, closing quickly can help any buyer (or relocating seller) secure a lower mortgage rate, Tullidge said. He’s seen some lenders offer a lower rate for a 30-day versus a 60-day closing. Ultimately, you must move at a pace your clients are comfortable with, but don’t be afraid to give them a nudge when it’s in their best interest. “When it’s the right house, you’ve got to move,” Murphy added. John N. Frank is former managing editor for Realtor® Magazine. Reprinted from Realtor® Magazine Online, July 2018, with permission of the National Association of Realtors®. Copyright 2018. All rights reserved.

INTRODUCING PROFESSIONAL

PHOTOGRAPHY YOUR WAY BECAUSE EVERY LISTING IS UNIQUE

Make an impact with our new photography suite: Platinum, Gold, & Silver. Exceptional photographs made even better, while giving you more flexibility and control than ever.

sorry honey, we can't

NMLS ID 85855 79053

Call Jamie Norris (801) 501-7950 NMLS ID 1036549

Growing up, I wanted to be like all the other kids and play the piano. One day when my friends went inside for their lessons, I asked my parents if I could learn too. With a painful look, my dad told me that we couldnâ€™t afford them. Which is WHY we believe that hard working people have better things to spend their money on than high rates & fees. If you believe what we believe, offer your clients a free 2nd opinion at City Creek Mortgage. Our team would be honored to save them money.

â€” TobiGale

CEO & CO-FOUNDER

540+ reviews (4.9 stars)

BEST OF STATE

©Anekcahap obcahhnkob / Adobe Stock

5 Issues You Face When Inheriting a House Estate Executors Have To Balance Family Needs And Best Options At An Emotionally-Charged Time By Alex Lehr

he recent death of legendary singer-songwriter Aretha Franklin initially posed a quandary for her four surviving sons. Because she didn’t leave a will, her $80 million fortune – including Franklin’s numerous real estate holdings – likely will take longer to divide, and the process could become complicated. Although Franklin’s sons appointed her niece to execute the estate, the situation brings to mind how family feuds and other problems can potentially result when inheritance portions aren’t clearly defined, or when an executor may be in over their head. Many newfound executors can face uncertainty and feel stress when inheriting a property after the death of a loved one. “Inheriting a property can come as a shock and may feel like an insurmountable obstacle,” said Alex Lehr, a real estate broker and author of The Unexpected Sale: Guidance For The Executor/

18 | Salt Lake Realtor ® | November 2018

Administrator Of An Estate. “Especially in the wake of a family tragedy or death, being the executor of an estate can be challenging. And usually the biggest asset in an estate – and the most difficult to resolve – is a house.” Lehr provides a list of important decisions the executor might face when a house is part of an inheritance: • To keep, rent or sell. Competing interests among siblings can make the right decision difficult. “Caught in the middle, the executor has to ask the heirs to keep their emotions under control and put the rational facts on the table,” Lehr said. “Selling is often the best decision if medical bills, tax issues or other reasons require cashing out. And it produces a specific amount that can be divided equally.” • Can you manage a property investment? When considering keeping the property in

•

the family, the executor needs to be objective about the beneficiaries’ dependability. “Would you choose the other beneficiaries to be your partners in any long-term investment?” asked Lehr. “Could they get divorced, go bankrupt or bring other entanglements?” And if you decide to rent the property, Lehr said there are issues to consider such as the local market for rentals and your ability to maintain the property. Establishing value of the property. If one heir or beneficiary wants to buy the house, the estate must determine the market value and get a fair price for the heirs and beneficiaries. “One way is to get two appraisals,” Lehr said. “Alternatively, the executor can put the property on the market with the expressed provision that one of the heirs has the right of first refusal to match the highest offer.” Repair and renovate? The executor must make sure the house is maintained in good condition, necessary repairs are carried out, and that it’s kept insured. “An executor can be personally liable for failure to maintain a property that results in losses for the heirs,” Lehr said. “But how much work is worthwhile before putting a home on the market? That’s a big question that depends

•

on the property and circumstances.” Furnished or unfurnished? It’s not unusual for an inherited home to be filled with a 30year accumulation of stuff. “In most cases, when the property goes on the market, thinning out the furnishings will help it show better,” Lehr said. “Nine out of 10 buyers first see the home in online photographs.”

“Being an executor is a high-responsibility, time-consuming, and often thankless job that people often take on while grieving,” Lehr said. “It’s up to the executor to assess not only the physical assets of an estate, but also the people and emotions involved. About Alex Lehr Alex Lehr (www.lehrrealestate.com) is the proprietor of Lehr Real Estate, located in San Carlos, Calif., and the author of The Unexpected Sale: Guidance For The Executor/Administrator Of An Estate. Involved in the real estate business for three decades, Lehr operates a concierge-type real estate firm with an increased focus on selling estate and trust properties - over 700 to date out of the 2,200-plus properties he has sold. He and his grassroots marketing team speak directly with over 30,000 property owners per year.

FIRST-TIME

HOMEBUYERS DON’T WASTE YOUR DOWN PAYMENT ON A DOWN PAYMENT

801-481-8840

USE IT TO FURNISH YOUR NEW HOME

NO DOWN PAYMENT

100% FINANCING AVAILABLE!

Certain restrictions apply. Transactions require separate closing costs. Visit UcreditU.com for details.

NMLS #654272

November 2018 | Salt Lake Realtor ® | 19

©NinaMalyna / Adobe Stock

New Living Rooms for Everyday Life Designers, builders, and homeowners are looking to new secondary living spaces near bedrooms to provide a cozy secret getaway from the rest of the house. Sometimes called a “pajama lounge,” it’s a room where a family can comfortably gather without worrying about entertaining nonfamily members. By Barbara Ballinger

y its name alone, the living room sounds like a comfortable repose for all. But with open floor plans and busy lives defining factors for many Americans, this shared public space often epitomizes the struggle between enjoying real life and keeping a home prim and ready for visitors. A family room or even a kitchen with seating can be too large, open, busy, and associated with entertaining guests. That’s why many seek an alternative space in which to unwind together. A large home in the Brentwood Park area of Los Angeles offers the ultimate in comfortable luxury: two pajama rooms, one in the basement

20 | Salt Lake Realtor ® | November 2018

and this one upstairs near all the main bedrooms. Chicago designer Rebecca Pogonitz, founder of GOGO Design Group, credits the Scandinavian appreciation for a simpler, more soul-nourishing lifestyle—often known by the Danish term ”hygge” (pronounced hue-guh)—for this move toward coziness and comfort. “My clients crave time for self-care and family,” Pogonitz said. “Many had this growing up but now find their family members aren’t together at home even for dinner. They want to recreate that human connection.” Now, this desire is finding its way into home design by way of spaces that are sometimes called

“pajama lounges,” a cutesy name that suggests a room in which to gather before bedroom, literally in PJs or sweats. This space is usually closer to bedrooms, often upstairs, as an intermediate area for intimate evening hours after dinner and before heading off to sleep. “It’s a place that has a totally different identity from a downstairs living or family room,” said Stephan Burke, a real estate salesperson with Cassis Burke Collection at Brown Harris Stevens in Miami. Many existing layouts can accommodate this trend, as multipurpose, flex, or bonus rooms can easily be staged to this aesthetic. Madison, Conn.– based architect Duo Dickinson, author of A Home Called New England (Rowman & Littlefield), said it’s important for homes to keep evolving to better reflect how people today want to live. “Homes are just like our clothes. They need to move, grow, and shrink as we do,” he said. Be aware that buyers may be looking for such spaces, even if they don’t yet know it as a trend or haven’t heard the “pajama lounge” term. While few listings will explicitly include this room as a feature, you can take cues from the examples below and apply them to extra bedrooms, oversized hallways, finished basements, or attic spaces. How New Construction Tackles the Trend Like most home trends, the new-home construction industry can most easily incorporate

this change, sometimes by paring the size of bedrooms. Industry groups such as the National Sleep Foundation and the Better Sleep Council suggest scaling back bedroom furniture and accessories to create a more dedicated space for sleep. Dickenson agrees, and said he’s seeing consumers shift away from bedroom designs that accommodate other functions such as homework, reading, and hanging out. “Our clients are increasingly asking that their bedrooms are sized to the beds, plus adequate space around them. The once typical 20-foot-by-20-foot floor plan is decreasing to 14 feet by 16 feet. Closets, however, never shrink,” he said. Builder Ralph Ramirez, founder of ICH Builders in Coral Gables, Fla., has been including pajama lounges for several years and said they can be pretty small—as little as 10 feet by 10 feet. He often makes them larger, though, so they can serve other functions such as working out, paying bills, and doing homework. Toll Brothers Inc., a national builder based in Horsham, Penn., has incorporated this type of space for years in its larger homes (6,000 square feet and up), though CJ Ametrano, vice president of national interior merchandising, said the company prefers to call them flex rooms. She adds that the company recently began to incorporate them in its smaller 2,500- to 3,000-square-foot houses by scaling back the size of other rooms.

Image licensed by Ingram Image

November 2018 | Salt Lake Realtor ® | 21

Image licensed by Ingram Image

Another builder that focuses on large luxury homes takes the concept a step further by giving the pajama lounge some of the best views in the house. Architect Paul Fischman of Miami-based Choeff Levy Fischman puts the spaces near bedrooms on the second level so they overlook water views, as most of their houses face the ocean or intracoastal waterways. And even when a site seems impossibly tight, Lexington Homes has found a way to squeeze in these spaces. The Chicago builder is adding pajama lounges to the three-story townhomes it’s constructing in the city’s Avondale neighborhood, on the third floor near the master bedroom suite. “The idea,” said co-principal Jeff Benach, “is that children whose rooms and bedroom are on the second floor will come up to the parents’ level so all can hang out together.” For those parents who don’t want to climb an extra flight of stairs, the master suite and flex room might be switched with the second-floor children’s bedrooms. The floor on which the flex space is placed is less important than ensuring that there’s a bathroom close by, Benach said.

22 | Salt Lake Realtor ® | November 2018

Staging Existing Spaces The key to furnishing a pajama lounge is a mix of comfortable seating upholstered in natural materials, a soft rug underfoot, some tables for games, a bookshelf or two, and good lighting—all in a soothing spa-like palette. Boston designer Frank Roop of Frank Roop Design Interiors put together this look in a second-floor room in a former fisherman’s cottage, which also takes advantage of water views. He custom designed an unusually large sofa that’s more like a big bed at 4 feet deep and 10 feet long. “Users can lie down and stretch out rather than sit upright,” he said. Other creature comforts: an ottoman with a flip top to store blankets and also a TV cabinet. Because the pajama lounge is often used by children, more whimsical touches might be considered, as Chicago-based architectural firm Morgante Wilson Architects did in recent construction of a suburban house. Taking advantage of the 20-foot-high ceilings on the second level, the design team built a loft into one end of an extra bedroom, reached by a ladder, where the three children in the home can play.

“It’s a place where the family can crash together,” said K. Tyler, the principal in charge of interior design at the firm. Having the option of food close at hand rather than having to traipse downstairs is another worthwhile addition, said Santiago Arana, a real estate salesperson with The Agency in Los Angeles and owner of Cutting Edge Development Inc. A few features he recommends in this space are a minifridge, microwave, sink, and espresso or coffee machine. The Screen-Time Question Some families gather specifically to watch movies or favorite TV shows. But others may want to make these lounges tech-free to avoid disrupting family conversation, games, and relaxation. “It’s a place where [family] members might meditate and take a break from everyday life, talk, or read a book,” said broker-associate Carol Cassis, a colleague of Burke’s in Miami. Cindy Graham, a licensed psychologist and founder of Brighter Hope Wellness Center in Clarksville, Md., considers it a matter of personal family preference and balance. “Many millennials who grew up with technology are now raising children and helping to push the pendulum back the other way. They are advocating to spend time together without as much technology as they may have had, and the results can be positive,” she said. “The family is the first place to learn to interact with others, and, in my work, we are seeing better language development [with less technology use] since there’s increased opportunity for conversations and social interaction.” Graham and her husband, a Linux systems and software engineer, waited to introduce a

Service Directory Home Inspection

Friday movie night routine until their younger child was two years old, since the American Academy of Pediatrics discourages screen media other than video-chatting before 18 months. She encourages adding blankets and other tactile objects to the room and allowing eating there. “Food becomes another opportunity to bond, learn manners, and talk about preferences,” she said. However a pajama lounge is furnished and wherever it’s located, the goal should be to reflect the needs of the family who will be using it, according to Sherry Petersik, co-author of Lovable Livable Home. “You need things that will drive your family into the room,” said Petersik, who also manages the blog Young House Love with her husband, John. “If your family no longer includes young children, don’t make it a playroom.” The couple furnished a room down the hall from all the family bedrooms in their twostory, colonial-style home in Richmond, Va., as a pajama lounge. However, they call it their “lazy room.” Said Petersik: “It works for us with tons of cabinetry for storage, window seat, and three chair lounges pushed together. A lot of people like to use updated bean-bag chairs.” Instead of spending evenings there, however, the family gathers in the morning before heading downstairs. Petersik said the timing doesn’t change their casual dress code. “We’re still in our PJs,” she said. 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). Barbara’s most recent book is The Garden Bible: Designing Your Perfect Outdoor Space, coauthored with Michael Glassman (Images, 2015).

CRITERIUM-BERNHISEL ENGINEERS 801-466-0931 Scott Bernhisel, PE, MBA Professional Engineer

• Comprehensive Inspections • Expert Testimony • Diagnostics • Structural Repair & Design • Electrical, Mechanical, Rooﬁng • Maintenance Planning • Environmental Assessments Exceeding ASHI Standards

FREE INFRARED IMAGING

Marty Nordin Owner

Meth & Radon Testing • Available 24/7 Licensed & Insured • ICA Certiﬁed Supra Key Access • Exceeding ASHI Standards

801.232.0835

brickbybrickinspections@gmail.com

www.BrickByBrickUtah.com

November 2018 | Salt Lake Realtor ® | 23

How to Kill Your Credibility Personal branding isn’t just about getting people to believe you’re good at something. You actually have to be good at it for your message to resonate. By Seth Price

o one wants to blend into the crowd; we all want to stand out and be recognized for what we are good at doing. At the same time, our customers have more options than ever before. It takes just a few seconds for someone to search Google and find 10 people who do the same thing you do. The last thing you want to hear when being compared to your competition is, “It doesn’t matter who you choose — they’re all the same.” That’s why everyone can benefit from a strong personal brand. No matter what you do, you can take steps to make people think of you when they think of your niche. But you also need to be good at something worth recognizing. Trickery Is the Fastest Way to Kill Your Credibility I was recently asked, “How do you get prospects to believe that you know the market better than your competition does?” My immediate response was, “Do you actually know that market better than your competition?” If the answer is no, you need to work on your skills before marketing them. We all have our internal BS meters for judging

24 | Salt Lake Realtor ® | November 2018

others. But consumers rank trust and transparency as high as or higher than product quality when deciding whether to make a purchase, according to the 2016 Edelman Trust Barometer, an annual survey measuring the credibility of business and other institutions. Consumers are starting to see the world more in terms of “real” and “fake,” often basing their purchasing decisions on how genuine they perceive an offer to be. You need to be authentic for your brand to stand out, but some people confuse authentic with being unique or original. The true definition of authentic is being genuine and reliable. Credibility is slightly different; it’s the quality of being trusted and believed in. I can’t magically give you integrity or make you trustworthy. That is the work you must do on your own. But I can show you how to leverage your assets to build a reputation that attracts others to want to work with you. Identify Authenticity in Your Niche Modeling others is how we learn. It’s okay to look to role models in your niche to see what they’re doing. As a matter of fact, you might want to study several successful people.

As you look at these people, write down the things you like and don’t like about what they are doing. Look at their content — their articles, emails, videos and overall presentation. Now write down how you would improve upon each of these things based on your own goals and values. This is where you put your personal twist in everything to separate yourself from other successful people in your niche. Define Your Values and Mission Do you have a mission, a manifesto, or your own personal rules to live by? I’m sure you do; it’s likely that you just haven’t taken the time to write them all down. Is it your commitment to support a specific cause? Is it your dedication to building products that will change people’s lives? Whatever it is, it’s important to own it, so choose something that you’re passionate about. Values drive action. Here are some of my core values: • Grow relationships, not just transactions. • Your word is a promise to be kept. • Consideration should always be given, but respect is earned. • “Not my job” is not an excuse. • Hard work is a magnet for good luck. • The more people you help, the greater your chances for success. Warning: Don’t half-heartedly commit to a set of values that you’re not fully ready to embrace. This is the best way to kill a brand. Your customers will see through the ruse and it will only damage your reputation. Learn How to Engage on Social the Right Way When you’re clearer about who you are and what you stand for, connect with others in your niche on social media. This doesn’t just mean sharing your own stuff online. Rather, this is about engaging with the content of others — and this is how you do it: • Get there first. It may sound childish, but someone who posts something they think is important is more likely to notice the first few comments — and possibly when they receive the first comment notification. • Get there really late. Comment on relevant dormant posts on someone’s blog or social profiles so your replies stand out and spark up a conversation on the topic at hand. • Show some love. Say thanks for whatever was shared to add an extra point of value — an easy action on your part that’s really a no-brainer. • Acknowledge special occasions. Birthdays, anniversaries, weddings, births, and graduations are all wonderful occasions to say hello to people you know and want to stay in contact with.

• Try using video. If you post a message with a video of your salutation, it will stand out above all the rest. • Add a link. And make sure it leads to a resource of value. Do this only if it will add to the conversation and help others in the thread, and avoid being self-promotional. • Don’t be afraid to go deep. If the post happens to be about your area of expertise, feel free to add a lengthy reply, even if it’s only an opinion. • Comment as much as you can. By commenting regularly on others’ content, you’ll get noticed and, over time, build worthwhile connections with those folks. Launch a Blog Worth Reading Most, if not all, of your online communications will connect back to your blog. But if you don’t have one, God knows where consumers will find out more about your perspective on the world. Blogs come with lots of added benefits, including: • Establishing your authority. Your blog is the hub of your personal branding efforts, where you share your expertise in an effort to establish authority in your niche. You might say making deposits in your authority bank is the very definition of personal branding. • Attracting new business. The majority of brands that blog acquire more customers. • Inspiring your social media. You’ll promote your blog posts regularly and take advantage of the magical amplification of social networks. • Increasing your reach. Your blog will be shared and find new eyeballs daily. Display Your Authenticity Everywhere Your brand is what others think about you when you’re not in the room. Make sure the real you resonates in everything you do: your writing, your videos, your speaking, your business cards, and your public and private correspondence. It’s about consistency. Personal branding is an important part of a digital marketing strategy for any real estate professional, whether you’re new or experienced. If you care about your reputation online and off, then establishing a strong personal brand is just the process of sharing what you stand for. Are you ready to be recognized for who you really are? Seth Price has spent 20 years in digital marketing, consulting for more than 300 companies during that period, including 19 of the FORTUNE 500. You can find more about Seth on his blog, SethPrice.net, or at Placester.com/academy. Reprinted from Realtor® Magazine Online, December 2016, with permission of the National Association of Realtors®. Copyright 2016. All rights reserved.

November 2018 | Salt Lake Realtor ® | 25

26 | Salt Lake Realtor Â® | November 2018

REALTOR® Connections Advice from a Past President • MaryAnn Brady, 1998 President of the Salt Lake Board of Realtors® • Associate Broker Chapman Richards Real Estate Q. What is the most challenging issue Realtors® face today? A: Lack of inventory. There’s not enough good properties out there to show. And multiple offers don’t always paint a true picture to sellers Q. What advice would you give to someone who is a new agent? A: The important thing is to commit yourself to consistent proper training before you start trying to deal with the biggest financial deal most people will make in their life. Ask a lot of questions anytime you are not sure. Education never ends in this business. Q. How many homes did you sell in the first year after getting your real estate license? A: That was 43 years ago and I haven’t a clue. It’s when you could buy a nice Sugar House bungalow for $45,000. Q. What do today’s home buyers and sellers look for when choosing a Realtor®? A: Somebody that has knowledge of the market and neighborhoods. Someone who will be straight forward, honest, and can work with buyers and sellers with today’s modern technology. Even we oldies can text with the best of the newbies these days. Q. What is the key to success? A: Endurance. Appreciate we have a really great and important business.

Salt Lake home sales in the first nine months of 2018 were up 2 percent compared to the same January through September period in 2017. Seventyone percent of all Salt Lake home sales in the first nine months of 2018 were homes that sold for less than $400,000. Only 1 percent of homes sold above $1 million. The median cumulative days on the market during this period was 13 days, up from 11 days last year.

28 | Salt Lake Realtor ® | November 2018

The Salt Lake Board of Realtors® sends a huge and heartfelt thanks for the many years of service and devotion Emily Norris, director of operations, has given to the association. Emily began working at the Salt Lake Board of Realtors in 2002 as the government affairs coordinator. She served as administrative assistant and worked extensively as a staff liaison to many committees. The Board extends its best wishes as she pursues new opportunities!

ATTOM

Data

Solutions

released its 2018 Vacant Property and Zombie Foreclosure Report, which shows that nearly 1.5 million (1,447,906) U.S. single family homes and condos were vacant at the end of Q3 2018, representing 1.52 percent of all homes nationwide — down from 1.58 percent in 2017. The report also found that there were 10,291 vacant “zombie” foreclosures homes nationwide at the end of Q3 2018, representing 3.38 percent of all homes actively in the foreclosure process. The number of zombie foreclosure homes was down from 14,312 a year ago, and the zombie foreclosure rate was down from 4.18 percent a year ago. States with the highest share of vacant homes were Tennessee (2.65 percent), Kansas (2.50 percent), Oklahoma (2.49 percent), Mississippi (2.47 percent), and Indiana (2.45 percent). Among 153 metropolitan statistical areas analyzed in the report, those with the highest share of vacant homes were Flint, Michigan (6.99 percent); Youngstown, Ohio (3.80 percent); Beaumont-Port Arthur, Texas (3.71 percent); Myrtle Beach, South Carolina (3.70 percent); and Mobile, Alabama (3.69 percent).

POWER COMES IN HERDS.

xDRIVE INTELLIGENT ALL-WHEEL DRIVE. NOW ON MORE MODELS THAN EVER. BMW xDrive offers performance in any condition with optimum traction, and torque that constantly adjusts to the subtle changes of every road. With a range of models as broad as the weather conditions they were built for, BMW’s intelligent all-wheel-drive system offers a superior driving experience, no matter where your GPS takes you.

Agents Lean on Their Brokers for Tech Tools The tech tools that have given Realtors® the highest quality leads in the past year? Social media was the top source at 47 percent, followed by the MLS and their brokerage’s website. By Erica Christoffer

ost broker-owners can give themselves a pat on the back when it comes to the technology tools they provide, according to the National Association of Realtors®’ 2018 Technology Survey released in September. While agents gave their real estate companies high marks in the survey, there’s also room for improvement, especially for brokers looking to differentiate themselves from the competition. Overall, 64 percent of the 2,525 survey respondents said they were somewhat or completely satisfied with the level of technology provided by their broker, and 90 percent of respondents said the technology they receive is somewhat easy or very easy to use. Kyle Malnati, CEO and founder of Calibrate Real Estate, a Denver-based boutique brokerage, was encouraged by the survey results, especially in a day and age when some agents are scared that technology will eliminate their ability to do

30 | Salt Lake Realtor ® | November 2018

business as they have in the past. “Those who embrace technology can use it as a powerful amplifier for their business,” he said. Despite their overall satisfaction, salespeople do have a wish list of items they’d like their brokers to supply, starting with predictive analytics tools, cited by 36 percent of survey respondents. Such platforms use big data to help agents target their marketing efforts, among other applications. The next highest requested piece of technology agents wish brokers would provide is a CRM at 35 percent, followed by transaction management software at 25 percent. Personal websites tied with tablets and technology support services—such as a brokerage staff person, additional training, or help desk support—each making 23 percent of real estate professionals’ wish lists (because respondents were able to choose more than one option, the total percentage for wish-list items exceeds 100).

UTAH

POWER FU L PERFOR MAN C E

MY WHY ?

OFFICES

342 AGENTS

18.5

AVERAGE RESIDENTIAL TRANSACTION SIDES PER AGENT*

159,787

AVERAGE COMMISSION EARNINGS PER AGENT

I love the chase. But my time is money. So, when I get a referral-fee free lead from LeadStreet®, I get my hands on more than a deal. I get hours, minutes and seconds added back into my day.

Why RE/MAX? The leads are my why. Find your why at joinremax.com/mtnstates

6,340

TOTAL RESIDENTIAL TRANSACTION SIDES

WINDERMERE REAL ESTATE IS PROUD TO HONOR OUR RPAC MAJOR INVESTORS

JIM BRINGHURST

GRADY KOHLER

Lifetime contributions to RPAC $50k+

Lifetime contributions to RPAC $25k+

LISA WOODBURY

LORI HENDRY

Hall of Fame

Sterling R

LISA JUNGEMANN

MIKE BASTIAN

PETER CLARK

BRAD HANSEN

LANA AMES

CATHY SNEYD

Sterling R

JIM BARBER Sterling R

Crystal R

Sterling R

PATTY HORIE Sterling R

Sterling R

JARED BRYSON Sterling R

Sterling R

KATHY MCCABE Sterling R

Windermere Real Estate is a proud supporter of RPAC with 100% participation from our brokerage. The purpose of RPAC is clear: Realtors raise and spend money to elect candidates who understand and support their interests. The money to accomplish this comes from voluntary contributions made by realtors. It is of utmost importance to Windermere Real Estate that we protect the American dream of homeownership and advance private property rights.