Illinois REALTOR, April 2015 by Illinois REALTORS®

APRIL 2015

THE VOICE FOR REAL ESTATE IN ILLINOIS

Strategies

for SENIOR

CLIENTS

STAGING

Dated Properties Illinois faces senior housing challenges

PLUS Tech & You:

Smart Ideas REALTORS® Can’t Do Without

www.illinoisrealtor.org

THE OFFICIAL PUBLICATION OF THE ILLINOIS ASSOCIATION OF REALTORS®

CONTENTS APRIL 2015

Departments 4 President’s Message: Illinois’ Aging Population 5 What’s Online: New Challenges and Goals for RPAC, On Common Ground 6 Quick Takes: Cash Sales Down, Kidzeum, 2015 Cost vs. Value 8 At the Capitol: The Power of the REALTOR® Voice! #PowerofR 10 Legal Update: Fair Housing, Drones and Illinois’ New Eavesdropping Law 21 Tech & You: Balancing Personal and Professional Needs 25 RVOICE: REALTOR® Advocacy Success Begins with You. 26 Commercial Corner: Global Business 28 Market Watch 30 REALTOR® Community

Cover: buso23/Bigstock.com

ILLINOIS ASSOCIATION OF REALTORS®

THE VOICE FOR REAL ESTATE IN ILLINOIS

Features Re Ear gi ly Ap str Bir ril atio d 15 n

13 16 18 20

www.illinoisrealtor.org/springconference

Five Senior Homebuyer & Seller Challenges Solved Older Americans by the Numbers Staging the Senior Home Harvard Research Identifies Looming Senior Housing Issues Advertising and Designation Usage Top Complaints to IAR Citation Program

ILLINOIS REALTOR® April 2015

PRESIDENT’S MESSAGE Jim Kinney | ABR, CRB, CRS, GRI, 2015 IAR President

REALTORS® CAN MAKE A DIFFERENCE FOR ILLINOIS’ AGING POPULATION Nearly every day, I see the tough decisions facing senior homeowners as they balance maintaining independence with acknowledging that they aren’t as physically agile as they once were. Clients I work with are downsizing from larger houses into much smaller spaces, touching off an emotional tugof-war which pits sentimentality against practicality. In other cases, they may find themselves living in a home which was never designed for wheelchair access, forcing tough decisions over whether to modify or sell. I’m not alone in seeing these life-changing dramas play out. IAR’s 43,000 members are often trusted advisors for seniors looking for guidance on how to ensure the best possible housing future. That’s why this year I created the Senior Housing Working Group which will focus on the challenges before Illinois’ growing population of elderly residents. REALTORS® have always played a role in helping clients with life’s big decisions. This issue of Illinois REALTOR® — and my focus this year as IAR president — will help the association better meet the needs of this special group of people. Best regards,

“IAR’s 43,000 members are often trusted advisors for seniors looking for guidance on how to ensure the best possible housing future.” — Jim Kinney 4 www.illinoisrealtor.org

IAR President Jim Kinney at an event for global real estate (top photo); Inaugural activities in Springfield with IAR officers, Treasurer Doug Carpenter and Presidentelect Mike Drews (middle photo); and at IAR Public Policy Meetings with IAR Director of Governmental Affairs Greg St. Aubin and state Rep. Mike Unes, R-East Peoria (bottom photo).

ILLINOIS ASSOCIATION OF REALTORS® THE VOICE FOR REAL ESTATE IN ILLINOIS 2015 IAR OFFICERS President Jim Kinney, ABR, CRB, CRS, GRI jim.kinney@bairdwarner.com President-Elect Mike Drews mdrews@dossrealtors.com

WHAT’S ONLINE NEW CHALLENGES AND NEW GOALS FOR RPAC

The Illinois REALTORS® Political Action Committee (RPAC) needs you! In 2015, RPAC has set a fundraising goal of $1.1 million to support REALTOR®-friendly candidates for public office and it cannot happen without you. Invest in your business by investing in RPAC. https://rpacnow.com

Treasurer Doug Carpenter, ABR, AHWD, SFR doug21@comcast.net Immediate Past President Phil Chiles, ABR, CRS, GRI, SRES pchiles@thegroup.com Chief Executive Officer Gary Clayton, CAE, RCE Editor Jon Broadbooks Senior Editor Stephanie Sievers Content Marketing Specialist Bill Kozar Graphic Designer Katie Grant

The RPAC Triple Crown events at IAR Public Policy meetings in January raised $80,000 and got RPAC off to a strong start for 2015. Thank you to everyone who volunteered and contributed to the auction.

https://rpacnow.com

For advertising information contact Arlene Braithwaite, 410-772-0820, arlenetbg@comcast.net The ILLINOIS REALTOR® (ISSN 0744-221) is published four times a year during the months of January, April, July, and October by the Illinois Association of R EALTORS®, Post Office Box 19451, Springfield, Illinois 62794-9451. Periodical postage paid at Springfield, Illinois and at additional mailing offices. Postmaster: Send address changes to: The ILLINOIS REALTOR®, Post Office Box 19451, Springfield, Illinois 62794-9451, 217/529-2600. Opinions expressed in any signed articles of the ILLINOIS REALTOR® are those of the author and do not necessarily represent the opinions of the Illinois A ssociation of REALTORS ®. Advertising of product or services does not imply endorsement. Advertising rates are available at www.illinoisrealtor.org or on request. Annual dues of every REALTOR®, REALTORASSOCIATE®, and Affiliate member of IAR includes $3 for a one-year subscription to the ILLINOIS REALTOR®.

Like us on Facebook. Join us on LinkedIn. Follow @ILREALTOR and @ILREALTORmag on Twitter. Subscribe to YouTube.com/illinoisrealtor

GET SOCIAL WITH IAR IAR INTERACTIVE WEBINARS

Take the courses you need without ever leaving home with the IAR Licensing & Training Center’s interactive webinar course series. Find pre-license, post-license and continuing education courses taught by Illinois instructors Lynn Madison and Norm Willoughby. Course options are available throughout 2015.

ON COMMON GROUND

www.illinoisrealtor.org/ oncommonground The semi-annual newsletter, On Common Ground, provides Illinois elected officials with research, local ordinance and state law updates, and economic data related to the state’s real estate industry.

IAR offers a number of ways for you to connect with IAR on social media including: www.facebook.com/ IllinoisAssociationofREALTORS https://twitter. com/ILREALTOR www.linkedin.com/company/ iar-llinois-association-of-realtors www.youtube. com/user/IllinoisRealtor

www.illinoisrealtor.org/ downloads Download the most upto-date forms, brochures, manuals and guides FREE for members

Find one that fits your schedule and register online at https://iar.webex.com

ILLINOIS REALTOR® April 2015

QUICK TAKES April is Fair Housing Month On April 11, 1968, President Lyndon B. Johnson signed the federal Fair Housing Act into law. A short film from the National Fair Housing Alliance and Nationwide Insurance, “Seven Days – The Passage of the Fair Housing Act,” recounts the events, including the assassination of Dr. Martin Luther King, Jr., that occurred in the days before the passage of the landmark law. Today’s federal Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, disability or familial status but state laws and local ordinances can and often do protect additional classes. REALTORS® need to know and follow the federal, state, local and ethical fair housing guidelines. Find fair housing resources at www.illinoisrealtor.org/fairhousing/resources including the IAR brochures, “Fair Housing is a Serious Matter! A Guide for Real Estate Professionals” and “Fair Housing is a Serious Matter! A Sellers’ XX Mark your calendar: IAR Legal Services will discuss fair housGuide.” Find the video at https://www.youtube.com/watch?v=0EKo5rBBzpI. ing issues among other things in the April IAR Legal Webinar.

Cash sales continue downward trend Cash transactions are accounting for a smaller share of U.S. home purchases. In the final months of 2014, cash sales made up 36.1 percent of total home sales, marking nearly two years of consecutive monthly declines, according to CoreLogic, a data and analytics company. Cash sales made up 35 percent of all Illinois sales in November 2014. www.corelogic.com/blog

Cash Sales Share of Total Sales

Figure 2: Cash Sales Share of Total Sales

26%

34%

31%

24% 22% 41%

27%

45%

30%

54%

33%

25%

44% 32%

34%

35% 35%

37%

31%

21%

38%

39%

40%

36% 15%

53%

42%

40%

27%

42%

38% 35%

37% 32%

24% 36%

32%

38%

35% 39% 31%

51%

34% 24%

32%

33% 51% 15%

54%

About Tableau maps: www.tableausoftware.com/mapdata

Source: CoreLogic, a data and analytics company, November 2014 Source: CoreLogic November 2014 About Tableau maps: www.tableausoftware.com/mapdata

6 www.illinoisrealtor.org

24%

IHDA Offers @HomeIllinois Mortgage Program The Illinois Housing Development Authority (IHDA) has a new mortgage program offering $5,000 in down payment or closing cost assistance and customizable loans for eligible Illinois firsttime buyers, repeat buyers and homeowners looking to refinance. Learn more about @HomeIllinois at www.athomeillinois.gov. IHDA has ended the Building Blocks Pilot Program and the Welcome Home Heroes and Smart Move Trio loan programs.

IAR Sponsors Kidzeum Green Home Exhibit Illinois REALTORS® are showing their support for green and sustainable living by donating $53,000 to the Green Home Construction Exhibit at the proposed Kidzeum of Health and Science in Springfield. One of the missions of the Kidzeum is to educate children about the importance of building healthy and efficient communities.

A homeowner’s net worth is more than 36 times greater than that of a renter, according to a Survey of Consumer Finances from the Federal Reserve.

2015 Cost vs. Value: Smaller remodeling projects are best values

Illinois again ranks No. 1 in green buildings

When it comes to recouping more of your remodeling money, sometimes simpler is better, according to the 2015 Remodeling Cost vs. Value Report. Upgrading to a steel entry door continues to offer the biggest payback with garage door replacement and siding improvements also ranking high. Find the entire report and regional breakouts at www.remodeling. hw.net/cost-vs-value/2015/ What were some of the best remodeling bets for the East North Central region that includes Illinois? • Steel entry door • Garage door replacement • Manufactured stone veneer • Siding replacement • Window replacement • Attic bedroom • Wood deck addition

For the second year in a row, Illinois leads the country in having the most green-certified buildings per capita square footage, according to the U.S. Green Building Council. In 2014, Illinois had 174 buildings meeting Leadership in Energy & Environmental Design (LEED) certification requirements. In the five years that the U.S. Green Building Council has released state rankings, Illinois and Colorado are the only two states to consistently make the top 10 list.

The annual report is produced by Remodeling Magazine in cooperation with the National Association of REALTORS® and REALTOR® Magazine.

ILLINOIS REALTOR® April 2015

AT THE CAPITOL Julie Sullivan | Assistant Director, Legislative and Political Affairs

THE POWER OF THE REALTOR® VOICE! The members of the 99th Illinois General Assembly were sworn into office on Jan. 14, 2015. Over the next two years there will be several thousand legislative proposals introduced, discussed and voted upon and hundreds of these proposals have the likelihood of affecting REALTORS®’ ability to do business in Illinois and to impact the rights of private property owners. We promise to keep you posted on the vital issues in the weekly State Capitol Report that summarizes the action in Springfield, on our website and on our lobby day. You can rely on your lobbyists to be in the Capitol every day and to research, review and analyze critical bills, to represent you in testimony before various committees of the House and Senate and to educate your representatives and senators on these proposals. But, we rely on you to be involved to carry that strong, consistent message to those who represent you. Your involvement ensures that we continue to be one of the most powerful trade associations in Illinois. The adage of strength in numbers is so true and your voice and action in response to legislative proposals defines our effective grassroots network. Elected officials look to you as the experts on issues that impact the real estate industry and private property rights. The success of our strong grassroots network has been demonstrated repeatedly. But we can always be better. Take the time to respond when we send out those emails urging you to contact your elected officials. IT MATTERS! We do not send out alerts on every proposal, but instead pick those that are critical, either for passage or defeat. In a typical session, we identify four to six bills for “Calls for Action” and perhaps a few more in which we will call upon Illinois REALTORS® who have legislators on specific committees. The judicious use of a “Call for Action” underscores its importance. Remember — your legislators need to hear from you, because they value your opinion as a constituent and an expert as to how a legislative proposal would affect the real estate industry and the rights of private property owners. When IAR issues a “Call for Action,” you will receive an email alert. This email will give you some talking points to explain the legislative proposal and our position on the issue.

April-May Session Dates of the Illinois General Assembly

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Your legislators need to hear from YOU, because they value your opinion as a constituent and an expert on how legislative proposals could affect the real estate industry and the rights of private property owners. A sample email response will be provided which you can send to your legislator in two clicks — one to open and one to send. We also have an established State Legislative Contact (SLC) network which is made up of a designated key contact and team for each member of the General Assembly. These REALTOR® members have established a working or personal relationship with each representative or senator. The network’s goal is to have a key contact working with a team of 5-10 additional REALTORS® to provide that local and personal contact. These contacts may make personal phone calls or schedule office visits, either in Springfield on our annual lobby day or back home in the district to discuss key issues. Our SLCs also ensure the involvement of legislators in appropriate local association events. Should you be contacted by one of our State Legislative Contacts to join the team, please volunteer! Join us on April 14 for the 39th annual IAR Capitol Conference in Springfield. During this annual REALTOR® Lobby Day, IAR lobbyists will brief you on the hot legislative issues and you will have the opportunity to be at the Capitol for floor or committee action and to meet with your legislators. The day ends with a reception that will allow you to network with your colleagues and members of the House and the Senate. #PowerofR

April 14-16; 17 (House only); 20 (House only); 21-24; 28-30; May 5-8; 12-15; 18-22; 23-24 (House only); 25-31; Scheduled adjournment date of 2015 spring session: May 31, 2015

For video/audio of action from the House or Senate floor; full text of bills and amendments; schedules and contact information for the Illinois General Assembly, www.ilga.gov

IAR Capitol Conference “REALTOR® Lobby Day” April 14, 2015

Get involved! Learn the issues and discuss the REALTOR® agenda with your state legislators Legislative briefings and Capitol visits Meet with members of the Illinois House and Senate on key REALTOR® issues Legislator networking reception

#PowerofR

VOLV GET IN

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ference itol Con ” IAR Cap ® Lobby Day OR “REALT

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DownloaD the MoBIle app http://ddut.ch/lobbyday, Search IaR lobby Day in the app Store or Google play, or Scan the QR code

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ILLINOIS REALTOR® April 2015

LEGAL UPDATE Elizabeth A. (Betsy) Urbance | IAR Legal Hotline Attorney; Associate, Sorling Northrup Attorneys

NAVIGATING THE LEGAL ISSUES AROUND FAIR HOUSING, DRONES AND ILLINOIS’ NEW EAVESDROPPING LAW Q A landlord received an application from a well-

qualified individual who wants to rent the landlord’s unit.The tenant applicant is deaf and has a service dog to help him with his daily life activities.The dog alerts him to the doorbell, the phone, and alarms among other assistance activities.The landlord’s building has a “no pets” policy so the landlord wants to know if he can decline the lease to this applicant based on the policy. If not, how should the landlord proceed? Are answers the same for other situations that might be similar but involve different types of tenant challenges and/or different animals? A The short answer regarding the ability of the landlord to deny the well-qualified applicant is no, the landlord could not deny based on his “no pets” policy and would need to provide this “reasonable accommodation” for the tenant. On these facts, it appears that the dog is a legitimate service animal that helps his person carry out basic life functions. Not only is this scenario covered under the federal Fair Housing Act but; depending on other factors, might also be covered under Section 504 of the federal Rehabilitation Act of 1974 and the Americans with Disabilities Act. The landlord could ask for some basic proof from the tenant prospect that he needs the service animal. This might be accomplished by a note from the tenant’s physician explaining the tenant’s need for the assistance animal. The landlord is not entitled to detailed medical records supporting the tenant’s request. It is important to note that if the situation is obvious as to why a person would need an assistance animal, the landlord may not ask for further proof. An example of this would be a visually impaired person who requires a guide dog. Once it has been established that the tenant needs the service animal to assist him in his daily life, either because it is obvious or because the tenant has provided some basic assurance to the landlord (or the landlord’s agent), the landlord should know that he can’t legally charge a higher security deposit amount based on the presence of the service animal. This would be considered a form of impermissible discrimination. When the tenant moves out, the tenant might be responsible for the actual costs of any needed repairs beyond regular wear and tear in the unit.

10 www.illinoisrealtor.org

The service or assistance animal does not have to come with any specific training. On the facts presented, the service dog is likely trained for specific duties to assist his non-hearing person. However, if a tenant has an “emotional support” animal and provides some basic level of proof defining the assisted person’s need, the same rules would apply and the assistance animal would need to be accepted for an otherwise qualified tenant. An exception to this general rule would be if the assistance animal is one that would pose a danger to others. These questions would be addressed on a case-by-case basis. A good source of information on this and related questions is a document entitled FHEO-2013-01, issued April 25, 2013, produced by the U.S. Department of Housing and Urban Development. https://portal.hud.gov/hudportal/documents/ huddoc?id=servanimals_ntcfheo2013-01.pdf

Q Is it permissible for a seller to audio-record the

conversations between a buyer and her broker in a listed property? A What one might consider a fairly basic question with a fairly easy answer has not really been the case lately in Illinois. Prior to the Illinois Supreme Court striking down the Illinois Eavesdropping Statute in relatively recent cases, that statute required consent of the parties in virtually every conversation where audio-recording was taking place. The Illinois Supreme Court struck down that statute as unconstitutional and overly broad. In response, the state legislature enacted a new version of an eavesdropping law, Public Act 098-1142 (the Act). The Act became effective on Dec. 30, 2014. Without getting into an intense review of the Act’s provisions, the summary analysis is that where there is an expectation of privacy, the parties must consent to have the conversation recorded (audio). What we don’t know is whether a conversation in a home that is listed for sale or rent would be considered one where the buyer and her broker have an expectation of privacy. The knee-jerk reaction is likely, yes. If there are only two of you in the property, you would expect that your conversations are private. But does the fact that the home is listed for sale or rent, thus exposing it to the public to some extent, change things? Unless and until we have direct guidance on this question by rule or by case law, here are some practical suggestions: If you represent the seller of the listed property, get express consent from those viewing the listing, or at least post an obvious notice that you are audio-recording inside the property. If you represent the buyer, recommend that you both refrain from discussing the listing in any detail, or discussing any possible terms or existence of an offer until you leave the grounds and are clearly in a private place. Also, be aware that sellers are allowed to video-record only without specific consent so long as the video-recording (no audio element present) is not being used in an obviously private place, i.e. a restroom.

Q Would you provide an update on the latest regulatory

landscape for the commercial use of drones, otherwise known as Unmanned Aerial Systems or Vehicles (UASs or UAVs)? A Yes. As of press time, the latest is this: The Federal Aviation Administration (FAA) has recently published proposed rules. The National Association of REALTORS® (NAR) is monitoring this rulemaking closely. There will be a comment period which could take quite some time and could likely extend beyond 2015 (despite the fact that rules were supposed to be in place by late 2014). The expected timeframe is 18 months or longer. In the meantime, the FAA says that it will grant permits for commercial drone use on a case-by-case basis. However, before you run out to seek your FAA certificate, you might consider the case of an Arizona REALTOR® who, while successful in acquiring FAA permission to fly his drones commercially, agreed to some very stringent requirements. For example, he will need to

“acquire a private pilot’s license and medical certificate” before he can legally operate his drone for commercial purposes under the certificate. There are quite a few other restrictions that apply to the actual operation of the unit, such as height of flight and time of flight restrictions to name two.* The proposed rules do not require a pilot’s license or another person to act as a “spotter.” There are, however, size, weight and area restrictions proposed for commercial drone use. As a result, IAR’s suggestion remains do not fly your drone for commercial purposes unless and until there are FAA rules in place setting forth the parameters for permitted use; or unless you are issued an FAA certificate to fly. If you feel you must fly your drone, IAR highly recommends that you visit with your attorney and your insurers before doing so. It is probable that you would not have insurance coverage should your drone crash, cause damage and you are found to be acting in contravention of federal regulation.

FAA Oks Aerial Photos for Arizona REALTOR®, REALTORMag, Daily Real Estate News, Wednesday, January 7, 2015, citing “Why This Guy in Arizona Can Fly a Drone And You Can’t,” ABC News, and “Arizona Realtor® cleared to use drone to show homes,” HousingWire (Jan. 7, 2015)

GOT A LEGAL QUESTION? The IAR Legal Hotline is the Designated REALTOR®/ managing broker’s go-to source for legal information. Phone: 800.952.0578 Email: burbance@iar.org HOURS: 9 a.m. to 4 p.m., Monday through Friday GOT A LEGAL QUESTION ON TRANSACTIONS? Call the IAR Transaction Helpline. Phone: 844.647.3833 Email: jbaker@iar.org

ILLINOIS REALTOR® April 2015

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2015

MANAGING BROKER LICENSE RENEWAL

SENIOR

Homebuyer Seller Issues

Solved! I

By Bridget McCrea

t didn’t take long for REALTOR® Marilyn Kohn to realize that she had her work cut out for her if she wanted to sell the property that she was previewing. “The entire kitchen was painted an aqua blue color — cabinets and everything,” recalls Kohn, SRES, a brokerassociate with RE/MAX Unlimited in Peoria. Owned by a senior who was moving into a retirement home, the older home needed to be “neutralized” on the color scale and “lightly” updated before it would attract a modern-day buyer, Kohn said. Working with the seller’s daughter, Kohn selected a few areas of the home that needed adjustment (starting with the allblue kitchen) and came up with a game plan that wound up paying off. By de-cluttering the home, doing some basic staging, bringing in a painter, and gently urging the homebuyer to give some of her possessions to her grandchildren, Kohn was able to market and sell the home at an affordable price and within a reasonable timeframe.

ILLINOIS REALTOR® April 2015

The challenges Kohn faced are being played out in households across the country for aging homeowners. “I don’t think the male buyer would have purchased the home if we’d left the soft/feminine colors in there,” says Kohn. “What we did gave the entire place a different feeling, and really made it more attractive to a wider pool of buyers.”

Grabbing the Opportunity

As a holder of the SRES (Seniors Real Estate Specialist®) designation, Kohn works with a large percentage of homebuyers and sellers who are over 50. With the nation’s more than 73 million Baby Boomers (currently aged 51 to 69) slowly making their way into retirement, the opportunity to work with these buyers and sellers is quickly growing. Some are selling their long-time family homes, others are downsizing as a way to simplify their lives, and still others are looking for larger properties to comfortably accommodate themselves and their aging parents. As Kohn has already learned, working with senior customers requires a special touch. Here are five issues that tend to surface when working with these consumers, Marilyn Kohn and some effective strategies for overcoming the challenges:

They’ve been in their homes for decades. And while the homes tend to be well built and sturdy, unless the owners have taken the time to regularly update them, they’re probably outdated on the inside. Knowing this, Kohn is never surprised to see orange shag carpet, avocado-green appliances, and other circa 1970 and 1980 features. Getting homeowners to realize the problem and do something about it is a different story. “It’s hard to make someone understand that their 40-year-old pure wool carpet is undesirable,” Kohn said. “Or that the custom silk drapes in non-modern colors aren’t going to be attractive to today’s homebuyer.” Much like she approached the aqua kitchen challenge, Kohn says she walks owners through some of the basic steps that they can take to bring their homes into the 21st Century. She sees de-cluttering, swapping aged vinyl tile for hardwood flooring in certain areas of the home, painting, and even taking unwanted (yet valuable) items to local pawn shops as good moves. “I recently worked with someone whose children didn’t want her silver, so a salvage professional came out and paid her for it,” Kohn said. “It’s a shame, but that’s just one of the things you have to know how to deal with when working with older sellers.”

Their relatives have a tendency to “meddle.” Unless the senior homeowner is dealing with mental capacity issues, Kohn sees little reason for the entire family to get involved with the sales process. Unfortunately, keeping meddling family members out of the picture isn’t always easy. “The kids often get more involved than they should in the actual listing and selling process,” Kohn said, acknowledging the fact that the involvement usually stems from concern for their parent(s) welfare. To prepare herself for this challenge, Kohn says she always asks in advance: Who is going to be involved in this transaction? Will there be any children, nieces, nephews or other relatives that I’ll need to keep posted on the 14 www.illinoisrealtor.org

progress? “When I know the answers to these questions in advance, I can be more proactive about keeping everyone in the know,” says Kohn. “I can also set the tone early on concerning just what we are (and aren’t) willing to do in terms of other family members.”

Family members don’t always have the authority to act. Before REALTOR® Catherine Terpstra, SRES, begins working with senior sellers, she always sits down face-to-face to determine their ability to fill out paperwork and make decisions, and asks if any other family members have the authority to do the same. “It can be tricky because you want to make sure they have the authority to move forward with the listing agreement and then a contract for purchase,” says Terpstra, a broker-associate with Coldwell Banker Residential Brokerage in Naperville and past-chair of the Mainstreet Organization of REALTORS®’ Senior Services Task Force (SSTF). The same approach comes into play when a son or daughter takes the lead, Terpstra said. She will ask upfront for documented proof of that person’s authority — namely to avoid issues once contracts are in place and the closing date is set. “You have to make sure that individual has the authority to list the property,” Terpstra said. “In some cases, an attorney will have to get involved at this stage — before you get started on any paperwork or transacting.”

Catherine Terpstra

Affordability may be a factor for senior homebuyers. Maybe they want to move to a warmer climate. Perhaps they want to relocate closer to their children and grandchildren. Or maybe they’re interested in one of the many country club-like retirement homes that are cropping up throughout the state. Regardless of the reason behind their move, seniors often run into financial obstacles when purchasing real estate. “Some seniors are in great financial shape, but with everything that’s gone on in the markets over the last few years, others are not,” says Terpstra. In order to help their adult children cope with the negative impacts of the recession, for example, some parents refinanced their homes in order to free up cash. Then, when property prices declined, those seniors may have found themselves “upside down” with their

“You’ve got to be able to identify the best situation for specific individuals and what they are going to be able to handle both emotionally and physically as they transition to their next phase of life.” — Chris Read

mortgages. Short sales and foreclosures ensued in some cases, leaving seniors on shaky financial ground. Terpstra handles these issues on an individual basis. For example, someone wants to move into a retirement facility, then she helps them find out about any “guaranteed sales programs” that the company offers. “There are all different options available, including those that allow the buyer to move into the facility before his or her home is actually sold,” Terpstra said. “By either paying a down payment and a monthly fee, or in some cases, deferring payments to a future date,” she said.

REFERRAL CLASSIFIEDS

Every situation is different. According to REALTOR® Chris Read, SRES, managing broker with CR Strategies, LLC, in Woodridge, seniors are not a homogenous group. Because of this, REALTORS® need to realize that each new deal will start from scratch — ideally with an interview to find out exactly what the customers’ specific wants, needs and challenges are. For example, some may have loads of possessions that need to be sold and/or given away before the downsizing can take place. Others may have financial challenges that need to be addressed and/or cleared up. Still others may have younger family members that require special attention and consideration before the deal can close. From the REALTOR®’s perspective, Read says care must also be given to properly price and market the home for sale in a way that takes these and other factors into consideration. And that, she adds, is why certifications like SRES combined with participation in local and state senior-oriented task forces are valuable for agents. “Any agent specializing in the senior market needs a Chris Read specific set of skills and needs to know what options are out there for their buyers and sellers,” Read said. “You’ve got to be able to identify the best situation for specific individuals and what they are going to be able to handle both emotionally and physically as they transition to their next phase of life.” Of course, clients of any age can present their own unique set of opportunities and challenges for Illinois REALTORS® — and seniors are no different. These obstacles aside, Kohn says working with those 50 and older is extremely rewarding. “These are wonderful people whom I really like working with,” says Kohn, “but in the end you always have to remember that, in most cases, you’re probably dealing with a downsizing situation that can exact an emotional toll. Because of this, the deals can take up more of your time, but once everyone is comfortable with the arrangement, it usually works out very well.”

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ILLINOIS REALTOR® April 2015

OLDER AMERICANS by the Numbers Persons reaching age 65 have an average life expectancy of an additional

19.2 years (20.4 years for females and

17.8 years for males). (Source: Administration on Aging: “Profile of Older Americans 2013”)

$73,211 The average debt level for Americans aged 55 and older in 2013. Debt was down slightly from $80,465 in 2010 but higher than the $36,144 average seen in 1992.

42%

The percentage of households aged 65 to 74 who had housing debt in 2013. Of those aged 75 and older, 20 percent had household debt. (Source: Employee Benefit Research Institute, Debt of the Elderly and Near Elderly, 1992-2013”)

75% Almost half of older women (45%) age 75+ live alone.

(The Demand Institute, “Baby Boomers and Their Homes”)

(Administration on Aging)

1 3 in

The share of Baby Boomers who will move out of state when they relocate. The majority (67%) are

expected to stay in-state and more than half of those will relocate within 30 miles of their current home. (Source: The Demand Institute)

132 million 16 www.illinoisrealtor.org

The majority of Baby Boomers say they want a singlestory property for their next home.

Over 3.9 million elderly persons (9.1%) were below the poverty level in 2012. (Administration on Aging)

The number of people in the U.S. who will be at least 50 years old by 2030. Americans aged 65 and older will nearly double in that time as Baby Boomers grow older. (Source: Joint Center for Housing Studies of Harvard University)

More Americans are putting off retirement and working past 65.

5 YEARS

58%

Less than half (47%) of Baby Boomers are retired today but that number will climb to 58% in five years. (Source: The Demand Institute, “Baby Boomers and Their Homes”)

63%

The number of Baby Boomers who expect to “age in place” and remain in their current home.

14%

Fourteen percent of all home purchases were by a multi-generational household, consisting of adult siblings, adult children, parents and/or grandparents. (Source: NAR

2014 National Association of REALTORS® Home Buyer and Seller Generational Trends study)

Five Traits of People Buying Senior Housing or in Active Adult Developments: PARTY LIKE IT’S

13%

1999

bought in senior housing or in active adult communities

The typical home was built in 1999

33% considered convenience to health facilities important

considered a home in a planned community important to their neighborhood choice

(The Demand Institute)

A typical buyer plans on living in home 15 years

(Source: NAR 2014 Profile of Home Buyers and Sellers)

3,100,343

Baby Boomer population in Illinois in 2014. (Source: AARP)

ILLINOIS REALTOR® April 2015

STAGING the Senior

Home BY BERNICE ROSS

hen younger buyers compare a senior’s home with what they see on television, the property can seem dated. What steps can older sellers take to make their property appeal to younger buyers without breaking the bank? REALTOR® Leslie Ebersole of Baird & Warner’s Fox Valley office recently listed a house for a couple that was moving into their retirement home. Their 25-year-old house was perfectly up-to-date when it was built, but now it was a little dated. The living room had too many pieces including two china cabinets plus six armchairs in different styles and fabrics, Ebersole said. “The first thing we did was ask where they were in terms of separating from their treasures. We also determined who in their family was willing to take things away and scheduled that to happen. For other items, great fallbacks include people who conduct estate sales and local church resale shops,” she said.

18 www.illinoisrealtor.org

Leslie Ebersole

“When people want to leave their excess furniture in the house while it’s being marketed, it’s usually in the hopes that the kids will pick it up or the buyer will want it,” Ebersol said. “When that happens, we are polite but firm; those things must be removed before we list the property.” Ebersole said a major stumbling block for seniors staging their homes is that they are saying goodbye to treasured parts of their lives. This is especially difficult when their move is not by choice.

The Basics of Staging on a Budget

Staging a home can be reduced to seven steps: cleaning, removing, rearranging, repairing, adding to, painting, and replacing. The first four steps are essential if sellers want to maximize their price. For example, squeaky-clean houses command a purchase price of up to 10 percent more. Other basics include making sure the house smells good and that the temperature is comfortable. Nothing turns off a buyer faster than a dirty, smelly, or uncomfortably cold or hot house. Buyers also make snap decisions about the property’s condition. A leaky faucet, a window that doesn’t open, or an inoperable doorbell can give the impression that the property is in poor condition. Have sellers repair any damage visible from the street, paint the trim if needed, and park the cars in the garage or on the street. Another inexpensive strategy is to add candles, pillows and fresh flowers to make the home more appealing. These simple fixes are inexpensive and will help the sellers net more at closing.

Make the House the Star

REALTOR® Craig Schiller of Baird & Warner’s Fox Valley office has owned a staging company for 15 years. He combines humor with straight talk to help the sellers understand the importance of staging. Schiller explains: “I’m not here to critique your decorating choices. Staging is using design as a marketing tool to make the house the star, not the stuff in it. In fact, my job is more often ‘Bruno the Mover’ than ‘Dolly the Decorator.’ We’re aiming for BBC— ‘big, bright, and clean.’ Let’s play with the space in one room to show you how it works.” When sellers experience the difference, they normally agree to stage the entire house. To achieve “big, bright, and clean,” Schiller recommends using at least three light sources per room. Clean the windows and skylights, dust the light bulbs or replace them with higher wattage bulbs. Replace heavy draperies and sheers with a single drapery panel to frame each side of the windows. If the sellers have brass light fixtures, it can cost as little as $10 per fixture to update them with brushed nickel or bronze with milk white glass. Other tips include using plants “to bring the outside in” and Craig Schiller removing area rugs on top of carpeting.

Each Room Should Invite the Buyer to Come in and Have a Seat

Diane Vander Weele of Chicago’s ProBuyStaging.com says, “You want the buyers to picture themselves living there. Each room needs to invite the buyer to come in and have a seat. In fact, I had one showing where the buyer left after a few minutes, returned with a blanket and then cuddled up on the couch in front of the fireplace.” Vander Weele says wallpaper, oak cabinets and oak woodwork are out, especially when paired with gray walls. A white painting kit and replacing any brass drawer pulls with brushed nickel or bronze pulls can freshen up a kitchen inexpensively. If the sellers have the budget, replacing cheap interior wood doors with white doors can make a huge difference as well. To make sure your listings look as up-to-date as possible, keep track of current trends. Look at decorating magazines, visit sites such as Houzz.com, and visit new model homes for additional ideas. Finally, pay attention to smell. If the sellers are Diane Vander Weele using mothballs, get rid of them!

Show the Sellers the Buyer’s First Impressions

Sellers usually enter their home through a back door or the garage. Consequently, they are often unaware of how their home appears to someone who parks on the street. Richard Kline, the Staging Guy from Austin, Texas, uses the following approach to show sellers how buyers will perceive their home. “When you first pull up to the home, take a picture from the street, preferably on your tablet so it’s easy to see. Take a second picture as you wait at the door. When the seller answers the door, ask their permission to take another photograph as you first step inside. Next, show the sellers the pictures you took and say, ‘Here’s the first impression that buyers will have of your house. What do you see?’” The photos allow sellers to experience their property as a neutral third party. In fact, many sellers are shocked when the pictures show how worn or dirty the carpets appear as well as how cluttered their home looks. When sellers can see the issues for themselves, they’re much more open to staging. Kline tells sellers that when you list a home, it becomes a product. “Your comfort should be secondary. Pack up the old recliner and stage the room around the fireplace, not the television. The sooner your house sells, the sooner you can enjoy your recliner in your new home.”

Stage the Bedroom and Master Bath for Romance

Kline believes that, “The master should be the adult’s retreat with a focus on romance. Get rid of the television, place candles throughout, and include lots of pillows on the bed along with a new bedspread. In the master bath, put out lotions, bath salts, and piles of towels around the tub. Store any personal care products out of sight. The goal is to

ILLINOIS REALTOR® April 2015

establish a spa-like feel that conveys not only relaxation, but romance as well.” In terms of the closets, Kline advises: “If you aren’t going to wear it in the next 60 days, pack it up. Here’s why. Buyers want more space than they already have. If they open your closets and they’re completely packed, they’re going to perceive that it doesn’t have enough room for their stuff and they’ll move on to another property.”

Counsel the Buyers

When you are working with older sellers remember to be considerate of their feelings. The items in their homes are more than just things; they are connections to the life that they may be unwilling to leave behind. Guide them through the process with compassion and empathy. About the writer: Bernice Ross, CEO of RealEstateCoach. com, is a national speaker, author and trainer with over 1,000 published articles and two best-selling real estate books.

Harvard research identifies looming senior housing issues By Bill Kozar, Content Marketing Specialist If steps aren’t taken soon to address the housing needs of older Americans, family members, caregivers and communities will face a range of agerelated issues for years to come. That’s one conclusion drawn from a recent report by Harvard University’s Joint Center for Housing Studies. Titled “Housing America’s Older Adults Jennifer Molinsky – Meeting the Needs of an Aging Population,” the report notes that while the percentage of Americans age 50 and over is growing larger by the day, supplies of affordable, physically accessible and well-located housing are dwindling. While one in seven Americans is at least 65 years old today, that ratio increases to one in five by 2030, says Jennifer Molinsky, a senior research associate at the Center, and lecturer at the Harvard Graduate School of Design. She spoke via Skype at the IAR Public Policy Meetings in January. According to the report, the biggest senior housing issues include: • AFFORDABILITY – Housing is typically the most expensive item in a household budget and costs continue to rise. Lower-income seniors sometimes use money for rent instead of essentials such as food, thus jeopardizing their health. Those who carry debt into their later years have less to draw upon for retirement, including money for health care. As incomes drop after retirement, we can expect a larger number of lower-income older adults as the Baby Boom generation ages. • ACCESSIBILITY – Seniors face more physical and mental challenges as they age, and their ability to easily and safely move in their homes becomes critical. The current housing stock is unprepared to support the numbers of older adults with disabilities we’ll see as Baby Boomers age, and there will be a need for modifications such as wheelchair ramps, wider doorways or lever-style faucets and door handles. • PROXIMITY – Transportation planning in many communities favors drivers, not pedestrians. Those that don’t drive can become isolated. There is a need for housing near stores, medical care and social services, pedestrian-friendly communities and convenient public transportation. • CONNECTIONS TO HEALTH CARE – Many older adults wish to age in their communities and continue to live in their homes. At-home services can support independence and health, and prevent premature moves to nursing homes. 20 www.illinoisrealtor.org

Is Illinois different? In general, seniors across the country will face similar issues. But Molinsky says accessibility may be more problematic for older Americans in the Midwest and Northeast because of the climate and the type of housing stock. She says the good news is that accessibility solutions, such as ordinances requiring or encouraging universal design or tax incentive programs to help pay for home modifications, can be adapted to Illinois municipalities. In terms of connectivity, some cities, such as New York and Atlanta, have initiatives to support age-friendly communities. Federal Medicaid dollars can be used to support seniors who choose to age in their homes rather than opt for nursing homes through state waiver programs. Using the U.S. Census Bureau’s 2012 American Community Survey, the Center analyzed the affordability of housing for “Illinois Households Age 50 and Over” by comparing incomes with housing costs. In three different scenarios, findings were divided into three categories: Own with a Mortgage • 62.3% have no burden (Mortgage payments are 0 to 30 percent of income); • 20.5% have a moderate burden (30 to 50 percent of income); and • 17.2% have a severe burden (more than 50 percent of income). Own without a Mortgage • 82.7% have no burden; • 9.2% have a moderate burden; and • 8.2% have a severe burden. Rent • • •

4 8% have no burden (Rent payments are 0 to 30 percent of income); 22.2% have moderate burden (30 to 50 percent of income); and 29.8% have a severe burden (more than 50 percent of income).

For more information on Illinois housing and U.S. housing, and to view the full “Housing America’s Older Adults” report, visit www.jchs.harvard.edu.

TECH &YOU By Bill Kozar | Content Marketing Specialist

FOUR IDEAS TO HELP YOU BALANCE PERSONAL AND PROFESSIONAL NEEDS Can Illinois REALTORS® give their clients too much access? Absolutely, says REALTOR® Terry Watson, who understands why real estate professionals work days, nights and weekends and use smartphones to communicate. “Sometimes, REALTORS® allow others access when they shouldn’t,” he says. “Mobile phones can blur the boundaries of personal and professional space.” Terry Watson To find a balance in his own career, Watson has maintained a healthy curiosity about apps, software and other ideas that improve productivity. When he meets with real estate professionals in his role as a trainer, keynote speaker and coach, he shares ideas that have worked for him. Watson, who is one of the featured speakers at the IAR Spring Conference & Expo on May 7 in Collinsville, shares a few of his recommendations:

1 2 3 4

Re Ear gi ly Ap str Bir ril atio d 15 n

Slydial – “This 2015 must-have app for your phone allows you to call directly to someone’s voicemail, so when you’re tight on time and don’t want to be curt, you can provide a quick, personal message. It can be faster than texting or email messages and allow you to use your voice to convey a great tone and clear message. Plus, it takes less time than a traditional phone conversation.”

www.illinoisrealtor.org/springconference

XX Watson is one of about 600 individuals who have earned the Certified Speaking Professional designation from the National Speakers’ Association. He will speak at the IAR Spring Conference & Expo in Collinsville, Ill., on May 7. His topic will be “The Yelp Effect – Pleasing the Empowered Customer.” He will also offer an elective continuing education class, “Extreme Disclosure 101.”

Evernote – “This app helps you collect Web articles, digital images, documents and your handwritten notes and makes them available through any of your devices (smartphone, tablet, laptop) when you need them. It is my most-used app.” Apple – For $99, you get a full year of personal instruction (One to One) on how to effectively use your iPhone, iPad, Mac or other Apple products. Watson says the average real estate agent probably uses only 10 percent of an iPhone’s capability. For $500, you get support from the Apple Business Team that takes time to learn your business and how to best support you. Apple provides discounts, offers a special phone number for service and syncs your iPad, iPhone and your Apple laptop to share information. Podcasts – “Real estate can be a brutal, emotionally draining activity, and so I absolutely love podcasts because you can download them to your phone and listen when it’s convenient. I recommend two podcasts for REALTORS®, ‘I Love Marketing’ and ‘10x Talk.’ Listening to these messages can help you reignite your mojo, and they’re free!”

XX See ad on next page.

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Watson is an author, keynote speaker and coach. He is the founder and president of Easify Inc., a consulting firm and leadership training company. The IAR member is a veteran trainer and real estate broker who works for his family’s real estate firm in Chicago.

April 15

ILLINOIS REALTOR® April 2015

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Illinois Association of REALTORS® -“The Voice for Real Estate in Illinois” 22 www.illinoisrealtor.org 522 S. Fifth Street, Springfield, IL 62701

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sChEduLE At-A-GLAnCE Wednesday, May 6 BETSy URBAnCE

JEFFREy T. BAKER

IAR Legal services update Betsy Urbance, IAR’s Legal Hotline Attorney, and Jeffrey T. Baker, IAR’s Transaction Helpline Attorney, will present on some of the latest legal trends in the industry. Get up to date on “hot” legal and ethical topics, important decisions on recent real estate related cases and answers to your legal questions.

PROFESSIONAL STANDARDS

rking Netwo ion t p e c Re J with D

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Thursday, May 7

pro Standards Breakfast ($16 ticket required) “Competition and the Code: Cooperation – Compensation – Communication” Lynn Madison and Chris Read will cover current complaints and concerns such as marketing and advertising issues, the black hole of presenting and negotiating contracts, commission entitlement, and other challenging events. You’ll also learn options for resolution of Industry issues that focus on the intended Code’s spirit of Cooperation.

8 a.m. – 1:30 p.m. ExpO 9 – 10:30 a.m. Opening Session with Joe Niego: “5 Steps to BIG production” 11 – 11:45 a.m. Managing Broker Session with Joe Niego: “Recruit, Train & Lead to Higher production” 11 – 11:45 a.m. IAR Legal Services Update with Betsy Urbance and Jeffrey T. Baker 11:30 a.m. – 1:30 p.m. Complimentary Lunch 1:30 – 4:30 p.m. Core A CE Session with Lynn Madison: “Fair Housing, Agency & License Law – Sellers Real World” 4:30 – 6 p.m. networking Reception at Zapata’s Mexican Restaurant 6 – 7 p.m. ypn Reception at DoubleTree Hotel

Lynn MAdISOn

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8 a.m. – 9 a.m. pro Standards Breakfast with Lynn Madison & Chris Read ($16 ticket required) 9:15 a.m. - 10 a.m. General Session with Terry Watson: “The yelp Effect - pleasing The Empowered Customer” 10:15 a.m. - 11:15 a.m. Closing Session with Ashton Gustafson: “We’ve Got it All Backwards” 11 a.m. - 1 p.m. ExpO 1 – 4 p.m. NEW! Elective CE Session with Terry Watson: “Extreme disclosure 101”

May 6-7, 2015 Collinsville GatEWay CENtEr www.illinoisrealtor.org/springconference

ACCOMMODATIONS: DoubleTree by Hilton Collinsville-St. Louis 1000 Eastport Plaza Dr, Collinsville, IL 62234 Reservation Deadline: April 8 866/235-4657

ILLINOIS REALTOR April 2015 23 #JumpstartyourCareer ®

k n a h 2015 RPAC T Y o u ! PACESETTERS IAR thanks our “Pacesetter” members who pledged or invested at the $1,000+ level to the REALTORS® Political Action Committee as of February 2, 2015. Ron Abrams Angela Aeschliman Jayme Ahlden Lucas Albright Loretta Alonzo Sonia Anaya Kyle Anderson Nicholas H. Apostal Rebecca Arce Mary Bahry Elizabeth Ballis Karen Barbagallo Jeffrey Barkstall Ayn Bartok Richard Bassford Jack Bataoel Scott Bechtel Jenni Beck Scott Beilfuss Steve Bennett Brian A. Bernardoni Carrie J. Bey-Little Tim Binning Genie Birch Dan Bock Steve Bois Lori A. Bonarek Pam Borowski Mac Boyd Mitzi Brandenburg Carrie Brase Charay Brewer Carla Brinkoetter Thomas Brinkoetter Conor Brown Cari Brunner Tonya Burris Mike Buscher Kristen Butcher Nate Byram Pat Callan Teresa Camarato Debra Campbell Nicholas Campo Daniel Carcasson Marty Carlson Doug Carpenter Christine Chase Philip E. Chiles Tommy Choi Timothy A. Clark Colleen Clavesilla Gary Clayton Rob Cole Mark Coleman John Collins Richard Conte Connie Conway Andrew Cook Tonya H. Corder

G. Joseph Cosenza Bill Craig Jean Crosby Karen Cupp Carie Cycholl Patrick A. Dalessandro Bob Davenport Janie Davis Richard Davis Kristie L. DeBrun Brett Decker Juan Del Real Rebecca Demond Mark Deubel Matt Difanis Bob Dohn Ginger Downs Chad Doyle Judy Doyle Mike Drews Robert Eby Bill Embry Stephen Engel Kristie Engerman David Erutti Ron Ewing Tom Ewing Matthew Farrell Linda Feinstein Gaspar Flores Kathy Frankenberger Sharlyn Franzen Deb Frazier Eduardo Garcia Betty Gauze Vicki Geiger Bev George Bobbie Gerbrecht Grayson Judy Gibbons John E. Ginder Michael Gobber Michael Golden Daniel L. Goodwin Sharon Gorrell Linda Green Jeff Gregory Sheryl Grider Whitehurst Judy Griffin Mike Gross Mabél Guzmán Jim Haisler Maurice L. Hampton Dallas Hancock Keith A. Hancock Dave Hanna Richard W. Hanselman Lee Hansen Ron Hardgrove Joe Hardin Sharon Harkness Doug Hartmann Doug Hartmann, Jr.

Royal Hartwig Phil Harvey Lisa Hathaway Valentina Hatzelis Julie Heltne Chris Hilton Larry Hines Tammy Mitchell Hines Madeline Hoeft David Holden Susan Holden Gregory Holthaus Shawna Holtman Dana Hybl Karen Irace Gary Jacklin Marianne James Jerry Jansen Phil Johnson Bruce Kaplan Connie Kappert-Knipp Lisa C. Keating Kim Keefe Brenda Keith Kris Keller Joe Kenny Kyle Killebrew Vera Kincaid Jim Kinney Amy Kite Lynn Klein John Klemm John C. Kmiecik Daniel Kniery Marilyn Kohn Jeff Kolbus Bob Kopp Thomas Krettler Pam Krieter Julie Lading Jeff Lasky Heidi Lawton Rita Liberatore Ann Londrigan Lynn Madison Susan Madison Erin Mandel Jan Mandis Mark Massey Barbara Matthopoulos Marisela Mayorga Sheri McAdams Bill McCarthy Pat McCarthy David McClintock Cindy McDowall Donna McQuade Carol Meinhart Marcos Mendez Daniel Merrion Jim Merrion Casey Meyers Sandy Michel

Sue Miller Max Mitchell Lauren Mitrick Ezekiel (Zeke) Morris Todd Musso Steve Myers Dave Naso Ed Neaves John Nimmo Michael D. Oldenettel Mike Onorato Piero Orsi Tammy Anderson Owens Pattie Palzet-Taylor Judy Panozzo Karen Parent Michael Parent Alisa Patterson Debbie Pawlowicz Doug Payne Gerald Perlow Jack Persin Georgia Pierini Nykea Pippion-McGriff Ted Popov Sam Powell Stefanie M. Pratt Debbie Prodehl Ed Prodehl Michael Prodehl Dawn Purple John Purple Linda Rayho Chris Read Larry Reedy Elaine Rhodes Hugh G. Rider Karen Robertson Millie Rosenbloom Lisa Klein Rossow Julie Roth Dean Rouso Edward Ruettiger John K. Rutledge Cheryl Ruzich Tim Ryan Eric Ryden Dan Sale Deb Sanders Rob Schaid Gerry Schuetzenhofer Mike Scobey Ronald G. Sears Chris Seniker Sarah Seniker Linda Shafer Brandon Shaffer Margery Shinners Pradeep Shukla Stan Sieron Vicky Silvano Matt Silver Jim Sim

Michael Simpson Margie Smigel Stephen Snyder Gail Spreen Ginger Sreenan Greg St. Aubin Madelyn Staack Steven Starwalt Winnie Stortzum Dede Strano Akos Straub Chris Studebaker Julie Sullivan Nancy Suvarnamani Laura F. Swinden Nick Taylor Russ Taylor Christopher Tenggren Catherine Terpstra Jennifer Teske Sheila Thomas Dave Thompson Rebecca Thomson Tricia Tialdo Kristie Tindall PJ Trautman Kim Tumas Vicky S. Turner Kevin Van Eck Erika Villegas Bryan Vogt Steve Volkodav James L. Votanek John P. Vranas Dan Wagner Martin Walsh Sarah L. Ware Frank Wehrstein Carolyn Weinert Linda Wheaton Norm Willoughby Kay Wirth Sue Wiskowski-Fair Brian Wood Suzanne Wood Amanda Wycoff Allan R. Young Sara Young Joyce Zelazik Deena Zimmerman Bloomington – Normal Association of REALTORS® Chicago Association of REALTORS® Greater Gateway Association of REALTORS® Heartland REALTOR® Organization Illinois Association of REALTORS® Mainstreet Organization of REALTORS® North Shore-Barrington Association of REALTORS® REALTOR® Association of the Fox Valley Rockford Area Association of REALTORS® Three Rivers Association of REALTORS® Women’s Council of REALTORS® – Rockford Chapter

RPAC supports candidates for public office who support the real estate industry and protect private property rights. INVEST TODAY! www.RPACnow.com Disclosure: Contributions to RPAC are not deductible for federal income tax purposes. Contributions are voluntary and are used for political purposes. The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or decision not to contribute. You may refuse to contribute without reprisal. Up to thirty percent (30%) may be sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a. A copy of our report filed with the State Board of Elections is (or will be) available on the Board’s official website www.elections.il.gov or for purchase from the State Board of Elections, Springfield, Illinois.

Mike Scobey |

Assistant Director, Advocacy and Local Issues

REALTOR® ADVOCACY SUCCESS BEGINS WITH YOU REALTORS® do so much more than list and sell property. They help build communities because they have a stake in the economic and social well-being of a community’s residents and businesses. REALTOR® involvement and advocacy at the local level — in helping to shape public policy and provide insights on economic development, for example — can be an important part of the vitality of a community. An important step is the involvement of individual members at the local level. An essential part of the association’s lobbying efforts is the grassroots involvement of members. When we lobby, REALTORS® bring real-life and real-time examples of how a proposed bill or ordinance will affect property owners and the real estate market. There are a number of ways you can get involved. Find out about your local association’s government affairs activities. These may include a government affairs committee on which you can serve. You may be asked to serve as a liaison to a particular municipality. You may be asked to speak on

behalf of the association, in whatever manner you are comfortable: testifying before a village board; writing a letter or email; serving on a local task force. All of it helps. The Illinois Association of REALTORS® has dedicated significant resources to making this happen. The Local Government Affairs Director (GAD) program employs 11 professional staffers to assist local REALTOR® associations in monitoring local government action. The GADs can give you good background on a developing issue or proposal and can keep you in the loop when your lobbying and involvement are needed. Also, the GADs are well-equipped through the RVOICE Program; they have access to legal analyses and the ability to engage, inform and activate homeowners and businesses when necessary. XX Check out the REALTOR® Community Activist Toolkit, to get information on becoming an activist in your community. Find the toolkit and other RVOICE brochures at www.illinoisrealtor.org/rvoice/downloads.

These are IAR’s Local Government Affairs Directors and the areas in which they work. Your involvement is a critical part of the advocacy they do. Feel free to contact the one in your area.

Kris Anderson

Kyle Anderson

Brian Bernardoni

Conor Brown

Kristie Engerman

Cook County and City of Chicago kjanderson@iar.org

Metro-East Area and Southern Illinois kanderson@iar.org

City of Chicago bbernardoni@iar.org

Winnebago County; McHenry County cbrown@iar.org

Peoria, Bloomington, and parts of Central Illinois kengerman@iar.org

Howard Handler

Jeff Merrinette

Tom Joseph

Kristen Jungles

Neil Malone

North Suburban Cook County; Lake County hhandler@iar.org

DuPage County; West Suburban Cook County; Northwestern Suburban Cook County jmerrinette@iar.org

South Suburban Cook County; Will County; Kankakee County tjoseph@iar.org

Kane County; DeKalb County; DuPage County (western) kjungles@iar.org

Champaign; Urbana; Springfield; Decatur; parts of Central Illinois nmalone@iar.org

ILLINOIS REALTOR® April 2015

COMMERCIAL CORNER WITH MODERN COMMUNICATIONS, EASE OF TRAVEL AND TECHNOLOGY shrinking our planet every day, global business is emerging as a very hot trend in real estate today. REALTOR ® Alex Ruggieri asks three active professionals to share their perspectives...

Paul Martis Commercial REALTOR®, CIPS Newcastle Team, Coldwell Banker Residential Brokerage/Commercial Oak Brook, IL www.NewcastleTeam.net

Paul Martis has been teaching basic skills and best practices as a pathway to success in commercial real estate since 2005. In addition to a B.S. in Urban Planning from Governors State University, Paul possesses over 20 years of experience in commercial real estate, including multifamily investment properties, commercial leasing and land disposition. He is an NAR-certified instructor for the Discovering Commercial Real Estate course and developed a 30-hour, 10-point commercial real estate mentoring program for newcastlecre.com, a commercial education enterprise. In 2013, Paul was named an NAR Commercial REALTOR® of the Year. He’s also a RPR Commercial Certified Trainer, Mainstreet Organization of REALTORS® (MORe) Commercial Ambassador, Illinois Association of REALTORS® Commercial CE instructor and a member of the Illinois Association of REALTORS® Commercial Committee. He welcomes the opportunity to share challenges, insights and opportunities with real estate agents looking for professional development in the field of commercial real estate. What steps have you taken to succeed in an increasingly global business climate? My CIPS designation is important to me and my career because it has become the catalyst for enhanced professional development in an area with unlimited rewards. In September 2014, I started working on my business plan for 2015 which would include a professional development goal of discovering new pathways to success in commercial real estate. FIRST STEP • Evaluate new experiences and resources I had acquired in 2014 and develop a strategy to apply them. • Certified International Property Specialist (CIPS) — Received the designation and then focused my interest in locating inbound foreign commercial investors for the Chicago metro market.

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• RPR Commercial — Identified a free REALTOR® tool which I can use to provide unique reports for demographic, dynamic mapping, public record and consumer data information as supporting materials for foreign and domestic investors. • Global Outreach — Joined the Global Council at MORe and became an advocate for global initiatives, exploring opportunities and growing business in commercial real estate through education, collaboration and team building. NEXT STEPS STARTED IN 2015 • Selected a real estate associate who speaks Taiwanese and Mandarin for global project development. • Created a marketing packet for value-added commercial client services with China. FUTURE STEPS • Identify other countries for inbound foreign commercial investors to the Chicago metro real estate market. • Expand my commercial mentoring program to include emphasizing the benefits of working global and the value of CIPS.

Jan M. Hope Vice President, CIPS, RCE NAR Commercial & Global Services Chicago, IL jhope@realtors.org

Jan Hope has been a long-time employee of the National Association of REALTORS®, also having worked for two affiliates. In her current position as vice president, she oversees the department’s strategic direction and programming, always with a goal of engaging members and enhancing value. How has earning a CIPS designation impacted your global business? I serve as vice president of the Commercial & Global Services department at NAR. The Certified International Property Specialist (CIPS) program resides in my area, so it was natural to pursue the designation. The classes broadened my awareness of real estate landscapes abroad and I learned a wealth of information about foreign cultures,

customs and economies. I used to think global business simply meant conducting transactions outside the U.S. and I was partly right. However, going ‘global’ was also happening in my own back yard. To make that point, I use an example of going to my local grocery store and noticing the vast number of ethnic products on the shelves. The stock went beyond a shelf or two. Entire sections of different ethnic foods were available. It led me to wonder…who in my neighborhood is buying these products? Once my awareness was heightened, I began to see diversity everywhere in my community. I knew I had to get educated. This past June, I took the five CIPS classes necessary to earn the designation. Because I’m in association management and not real estate sales, one additional course is required to lay the foundation for associations to create global councils and programs and design strategies to engage members and enhance value. It was a fantastic week of education, and I made new friends from the experience. The new information has already served me well. More than 1,200 international members attended NAR’s convention in New Orleans, giving me the opportunity to put into practice some of the things I learned about their cultures. The littlest details — how you approach someone or shake hands to how you accept or offer a business card proved valuable and provided insights into gaining the trust of NAR’s international members and partner associations. Earning the necessary points to qualify for designation was fairly easy as I was able to use my schooling, the eight years I lived in culturally diverse Hawaii and my travel abroad. So here I sit, a staff veteran of the National Association of REALTORS®, newly “pinned” and proud to share the experience with you all!

Mabél Guzmán Broker, AHWD, CIPS @properties, Chicago, IL mabel@atproperties.com

Mabél Guzmán, AHWD, CIPS, a broker for @properties has been advocating for clients, consumers and the industry since 1997. Mabél has been recognized for her tireless work on local, state and national issues that impact REALTOR® members and the industry. As the 2011 president of the Chicago Association of REALTORS®, she traveled to Poland on a trade mission and spoke to WSPON (Poland’s real estate trade organization) members about the value of being a REALTOR®. She signed an accord between the two associations to collaborate on education and advocacy. She has served as the 2014 Chair for NAR’s Conventional Finance & Policy Committee where she was given the opportunity to testify on behalf of NAR’s more than one million members before the U.S. Senate Subcommittee on Urban Affairs and Banking regarding inequality and opportunity in the housing market. Does Global Real Estate Impact Us Everyday? In a simple answer YES! The U.S. is considered the best real estate market in the world despite the recent activity with distressed properties. Many overseas investors believed it was and is a great opportunity to invest in the U.S. when

affordability was at an all-time high and our standard of living exceeds other markets worldwide. Currently global transactions make up 25 percent of real estate transactions in the U.S. and approximately 62 percent of these transactions are cash. Another issue is monetary policy from country to country. Many Chinese investors feel more comfortable investing in real estate for the long-term and believe their money is in a safe place. Our world is not smaller, it only feels this way because happenings in other countries have had a direct and indirect impact on us. As the BRIC nations (Brazil, Russia, India and China) go through changes whether through expansion, changes in monetary policy or consumption of energy, they have an everyday impact on us. The impact happens directly and indirectly. As China was building seven new cities, the U.S. saw delays in delivery of steel, glass and concrete. As Russia is experiencing economic fallout, we benefit from reduced prices at the pump and may see an increase in the Russian real estate investment in the U.S. Most recently, the Wanda Group, a Chinese developer, will be building the third tallest tower in Chicago. It will be a 88-story, mixed-use building called Wanda Vista estimated to cost $900 million. This will create jobs, infuse spending and create opportunities for more real estate investment. These foreign investors are not only interested in our major cities, they are interested in opportunities that make sense, whether residential or commercial. Is Obtaining Your CIPS Designation A Good Idea? It’s a great idea and it gives you the knowledge to interact with people from anywhere in the world. For example, the Wanda Vista was originally expected to be 89 stories. It was changed to 88 because in China, eight is considered a lucky number. The Beijing Summer Olympics began on August 8, 2008 — 8/8/08. In fact, in China many skyscrapers are 88 stories tall. This type of nuance is necessary to have success with foreign investors. You think they are inflexible and they are not because it is their money; he who has the gold makes the rules. In addition to having an understanding of cultural nuance, you learn that value systems at their core are not that different. There are common themes we can work with and towards. I already received a referral and have been recommended highly by my new global family and also by those who participated in CIPS education right here in the U.S. There is a spirit that transcends camaraderie. It is an energy that is shared and a support system that allows us to learn from each other. The CIPS designation has helped me expand my territory with regards to referrals, increase my business acumen and create friendships that are dear to me. Alex Ruggieri, CCIM, CIPS, S.E.C., GRI, MBA is Senior Investment Advisor with Sperry Van Ness/Ramshaw Real Estate in Champaign. He is currently serving on NAR’s Presidential Advisory Group for Commercial Outreach, NAR’s 2014 Commercial Committee. Past service includes NAR Commercial Committee and IAR Commercial/ Industrial/Investment committee.

ILLINOIS REALTOR® April 2015

MARKET WATCH WHAT’S AHEAD FOR ILLINOIS HOME SALES AND PRICES The Market In a presentation to Illinois REALTORS® earlier this year, Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) at the University of Illinois, said that modest and steady gains in median prices and sales could be expected for the 2015 housing market. One factor that will affect the rate of recovery for both the overall state economy and the housing market is job creation. While Illinois is adding needed jobs, the state would still need to add nearly 578,200 jobs to get the state back to November 2000 levHewings els, Hewings said. Taking a more immediate look at the housing market, the REAL forecast for February 2015 anticipates steady annual median price gains into March and April. The statewide median price is forecast to rise 8.7 percent in March and 9.4 percent in April. Home sales over the same time period are expected to see weak annual growth, but stronger monthly gains. For example, the threemonth average forecast for Illinois calls for annual growth between 3.9 percent to 5.1 percent while month-over-month comparisons forecast three-month average sales increases between 16.7 percent and 21.6 percent for Illinois, according to the REAL forecast. Source (right): Regional Economics Applications Laboratory (REAL) at the University of Illinois, “Housing Price Forecasts Illinois and Chicago PMSA, February 2015”

Find the latest monthly and quarterly REAL housing forecasts at www.illinoisrealtor. org/marketstats/forecasts Find Hewings’ IAR Public Policy presentation, “Housing and the Economy: Impacts, Forecasts and Current Research 2015 Update,” at http://bitly.com/HewingsPublicPolicy WHAT OTHER ECONOMISTS ARE SAYING ABOUT THE MARKET: “All indications point to modest sales gains as we head into the spring buying season. However, the pace will greatly depend on how much upward pressure the impact of low inventory will have on home prices. Appreciation anywhere near double-digits isn’t healthy or sustainable in the current economic environment.” – NAR Chief Economist Lawrence Yun (Feb. 2015) “Consumers are more optimistic about the environment both for buying and for selling a home today, and the share

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who plan to own on their next move has jumped back up, reversing a three-month trend toward renting.” – Doug Duncan, senior vice president and chief economist at Fannie Mae (Feb. 2015) “The steady decline in the number of completed foreclosures is a good sign of healing in the U.S. housing market. Nonetheless, there remain many pockets of the country with very high foreclosure inventories, underscoring the unevenness of the nation’s housing recovery.” – Anand Nallathambi, president and CEO of CoreLogic (Feb. 2015) “Housing markets are getting back on track. The national Multi-Indicator Market Index (MiMi) improved for the fourth consecutive month. Nearly 80 percent of the state and metro housing markets MiMi tracks are improving or in their stable range of activity.” – Len Kiefer, deputy chief economist at Freddie Mac. (Feb. 2015) Find the full forecast at www.illinoisrealtor.org/marketstats

Advertising and Designation Usage Top Complaints to IAR Citation Program By Rebecca Carraher The Illinois Association of REALTORS® (IAR) Ethics Citation Program was adopted by the IAR Board of Directors in September 2014. As of Feb. 27, the program had received 41 complaints and 18 citations have been issued. Most of the citations have been issued for advertising violations. Some of these violations concern using a professional designation that the respondent is not entitled to use, making false or misleading claims as to sales production, failure to disclose terms and conditions in regards to a guaranteed sales program and the real estate firm name not being readily apparent on social media. A citation cannot be issued if there is a lack of information submitted with the complaint. The Ethics Citation Panel, which reviews all citation complaints received, is not an investigative body. When a citation complaint is filed it is the duty of the complainant, whether anonymous or named, to submit all necessary evidence with the complaint. The complaint process allows for attachments and links to be submitted with the complaint. A complete submission of evidence assists the panel in making a decision on whether to issue a citation. If the complaint is not complete or the panel is not able to determine if a violation occurred, the complaint is dismissed. For example, if you file a complaint alleging that a member advertised they are No. 1 in a particular city or village and in fact they are No. 3 or No. 4 in sales, you might provide proof of who is No. 1 and where the respondent falls within total sales in that particular village or city. Ethics Citation Program brochure available at www.illinoisrealtor.org/ Another issue is incorrect citation of the appropriate Article sites/illinoisrealtor.org/files/EthicsCitationBrochure.pdf within the Code of Ethics that is alleged to have been violated. The panel does not have the authority to add Articles to the complaint. If a member has a complaint against another member and the evidence does not fall within a specific Article contained in the Ethics Citation Program, a formal ethics complaint should be filed with the appropriate local association of REALTORS®. For more information on the Ethics Citation Program please go to www.illinoisrealtor.org/disputes

As of Feb. 27, the program had received

41 complaints and issued 18 citations.

At a Glance: IAR Ethics Citation Program HOW IT WORKS: 1. If a filing is found to meet the program’s standards, a Citation Panel will review the case. If the Citation Panel believes a violation has occurred, a citation will be issued to the Respondent, along with a set fine. 2. The Respondent has the opportunity to pay the fine within 30 days or request a hearing before an Ethics Hearing Panel. Fines range from $250 to $1,000, depending on the nature and severity of the violation. 3. If a hearing is requested by the Respondent, the complaint will be sent to the Grievance Committee for review.

HOW TO FILE A COMPLAINT: Online:

Fill out an online form. It will be reviewed typically within one business day. Find the form here: www.illinoisrealtor.org/citation-form/#Form

Over the Phone:

Call IAR: The Ethics Citation Hotline can be reached at (217) 529-2600 from 8:30 a.m. to 4:30 p.m. Monday through Friday. (Closed major holidays.)

ILLINOIS REALTOR® April 2015

REALTOR® COMMUNITY FOLLOW US:

In Memoriam: Chuck Wiercinski

Schedule a Visit from the IAR Member Outreach Team Looking for a topic for your next office or regional meeting? The IAR Member Outreach team is available to cover the latest legislative issues in play — local, state and national — as well as new laws, forms, RVOICE resources and RPAC. Call 1-800-752-3274 or IARaccess@iar.org.

Chuck Wiercinski

In December 2014, the REALTOR® family lost an advocate for commercial real estate and professionalism with the passing of Chuck Wiercinski, 68, of Elgin. Wiercinski was posthumously recognized for a lifetime of service with a proclamation at the IAR Board of Directors Meeting in January.

Congratulations GRI Class of 2014!

IAR sends a big shout out to the 39 Illinois REALTORS® who earned the Graduate, REALTOR® Institute (GRI) designation in 2014. Learn more about GRI and some of the new changes in the program at www.illinoisrealtor.org/GRI.

Gideon Blustein

Kyle Anderson

Kristen Jungles

gblustein@iar.org

kanderson@iar.org

kjungles@iar.org

REALTOR® Awards Loretta Alonzo, managing broker of Century 21 Affiliated in La Grange Park, was named the 2015 Illinois REALTOR® of the Year. A leader in the industry and within the REALTOR® organization, Alonzo will be honored June 16 at a ROTY banquet at the Abraham Lincoln Presidential Museum in Springfield. Learn more about the banquet and order tickets at www.illinoisrealtor.org/rotybanquet

Lynn Madison, owner of Lynn Madison Seminars in Schaumburg, was honored with the Illinois Association of REALTORS® Political Involvement Award for her outstanding and ongoing political and legislative service to the REALTOR® organization.

IAR Leadership Development Program for 2015 Twelve Illinois REALTORS® from around the state are participating in this year’s program, which identifies and trains future association leaders. This year’s class includes: • Jayme Ahlden of RE/MAX Realty Associates in Champaign; • Debra Bell of Baird & Warner in Plainfield; • Carrie Bey-Little of Baird & Warner in Glen Ellyn; • William Caton of Caton Commercial Real Estate in Naperville; • Rich Davis of Century 21 House of Realty, Inc./ Town & Country Village in Marion; • Michael Gross of RE/MAX Preferred Holden Realty Inc. in O’Fallon; • Maurice Hampton of Centered International Realty in Chicago; • Patrick Lynch of eXp Realty in Chicago; • Paul Martis of Coldwell Banker Residential in Oak Brook; • Nykea Pippion-McGriff of Dream Town Realty in Chicago; • Angela Stodden of United Country Heartland Realty in Galena; • Terry Umecker of RE/MAX 10 in the Park in Palos Park.

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ILLINOIS REALTOR速 April 2015

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