Realtor Magazine February March 2020

M A G A Z I N E FEBRUARY / MARCH 2020

INSIDE

School of Radsick

2020 C.A.R. President shares insight of the real estate profession

Derek Sprague

RONDA

Amplify your community support through our Charitable Foundation

NEWPORT

Michael Turnipseed How School Bonds Impact Property Tax

Meet your new 2020 President. See Page 4

JOHN 3:16 R E A L T O R S

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CONTENTS

2020 OFFICERS President Ronda Newport Watson Realty, ERA

Bakersfield REALTOR® Magazine

President-Elect Scott Knoeb Frontier Real Estate Services, Inc.

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LETTER FROM 2020 PRESIDENT Ronda Newport takes the helm leading members into 2020 and wants to hear from you.

Vice President Anna Albiar Coldwell Banker Preferred, RLT Secretary/Treasurer Wayland Louie RE/MAX Golden Empire

CEO KIM HUCKABY FOCUSES THE VALUE OF REALTORS® Every day REALTORS® deliver an exceptional and compelling experience that can’t be replaced by technology.

Immediate Past President Athena Collup Miramar International, Mill Rock Chief Executive Officer Kim Huckaby

2020 Directors

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Nik Boone Ascend Real Estate

SUSTAINABLE GROUNDWATER MANAGEMENT ACT IS CREATING A RIPPLE EFFECT FOR HOMEOWNERSHIP GAD consultant, Jenifer Pitcher, reveals how the SGMA can effect homeownership.

Michele Cooper Karpe Real Estate Center Martha Johnson Watson Realty ERA Bill Mell Miramar International Kym Plivelich Marcom Real Estate Glenn Porter RE/MAX Golden Empire

STAY A STEP AHEAD OF YOUR CLIENTS Refine your technological skills with our Technology Committee as they offer live demonstrations.

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NAR’S MANDATED MLS CLEAR COOPERATION POLICY Scott Knoeb discloses more information about NAR’s policy which is addressing the growing use of off-MLS listings.

TEST YOUR KNOWLEDGE ABOUT DISCLOSURES Successful REALTORS® have a firm grip on the agents responsibilities in property disclosures, what’s yours?

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2020 INAUGURAL CELEBRATION SNAPSHOTS Ronda Newport kicks off the new year and her new role as President with an evening under the stars.

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8 WAYS TO MANAGE YOURSELF DURING STRESSFUL, BUSY TIMES Insights to help leaders successfully navigate the stressors of work.

MEMBERSHIP BENEFITS Get the most out of your dues with REALTOR® benefits tailored just for you.

Brian Tuttle Coldwell Banker Preferred, RLT Michelle Valverde Wyrick & Associates Real Estate

ON THE COVER Introducing our new 2020 Association President, RONDA NEWPORT. Special thanks to Dave Packer Custom Builder for the use of his model home.

M A G A Z I N E FEBRUARY / MARCH 2020

INSIDE

School of Radsick

2020 C.A.R. President shares her thoughts

Derek Sprague

RONDA

reveals the status of the REALTORS® Charitable Foundation

NEWPORT

Michael Turnipseed mentions how Kern Tax is like the guard dog to the tax payers

Meet your new 2020 President. See Page 4

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Bakersfield Association of REALTORS® 2300 Bahamas Drive, Bakersfield, CA 93309 P. 661-635-2300 F. 661-635-2317 www.bakersfieldrealtor.com facebook.com/bakersfieldrealtors twitter.com/bakorealtors BAKERSFIELD REALTOR

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JOHN 3:16 R E A L T O R S

Executive Editor - Kim Huckaby CEO Managing Editor - Carol Duran Contributing Articles Editor - Tiffany Waldowski Statistics - Jamey Lyster Graphic Designer - Carol Duran

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MAGAZINE

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LETTER FROM THE PRESIDENT

… let me hear from you.

In the first quarter of this year it is my desire to visit each and every one of your brokerages.

RONDA NEWPORT 2020 PRESIDENT

New Year, NEW DECADE

J

Welcome to 2020! ust like that, another year has

Real Estate is sacred work. Be clear on

come and gone. It’s the time of

your core values and deliver. Always be

year to review and start fresh and

the expert in the market and have pride in

create a new beginning. Take a few

your work. We are in this together so let’s

moments to yourself and reflect on all you

work together and achieve the excellence I

have achieved, mistakes or challenges you

so desire for each and every one of you.

have faced, and focus on how you want

Let’s expand our value in our home

to continue to grow and invest in yourself

town as well. We need to be the heartbeat

this next year.

of what is happening in our community.

For me, it’s leading our members into

We are the boots on the ground. Let’s be

the next decade. WOW! The Association

present at local government meetings,

has spent a considerable amount of time

town halls, schools, charitable events,

and resources preparing me for this next

everywhere we can.

step and I am ready! I am so grateful to all who have reached out to me to offer up a

Homeownership stabilizes

suggestion or helpful piece of advice. I do

a community

not feel alone as I know you are all there

The entire community benefits when a

with me.

consumer purchases a home. Be that active

Athena Collup, our 2019 President,

member in the community in which we

has paved the way for our members to

work, in that community we also call

BE MORE. Now I would like to expand

home, and that community that we LOVE.

on that and drive each of our members

Let me hear from you

to PURSUE EXCELLENCE. It’s an

In the first quarter of this year it is my

exciting time in Real Estate. It is also a

desire to visit each and every one of

changing time in Real Estate. No one

your brokerages. I want to know what is

knows what our industry will look like at

working so that we can amplify it. I want

the end of this decade, but we all know it

at articulating our value proposition to

will be different. We need to be mindful

our clients. FOCUS on the consumer

of that and work to build a future

and nurture those relationships. Be that

I need to know what is missing so that we

focused business.

REALTOR® that has unparalleled market

can add it, and I would love to hear from

VALUE is the name of the game

knowledge, is a transaction troubleshooter,

you what is confusing so that we can offer

We as REALTORS® need to be better

and is the consumers biggest advocate.

clarity and education.

to hear what is broken so that we can fix it.

“Remember that we are all Brand Ambassadors.

This is what we do and this is who we are.”

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RONDA 2020 Association President

N E W P O R T v

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MEET OUR 2020 ASSOCIATION AND GEMLS LEADERSHIP TEAM

Scott Knoeb

Anna Albiar

2020 ASSOC. President Elect 2020 MLS President

Wayland Louie

Athena Collup

2020 Secretary-Treasurer 2020 MLS Director

2020 Vice Pres ident 2020 MLS Director

Kim Huckaby

Immediate Past President

Chief Executive Officer MLS Chief Financial Officer

2020 BAKERSFIELD ASSOCIATION OF REALTORS® DIRECTORS

Nik Boone

2020-2022 Director

Bill Mell

2019-2021 Director 2020 MLS Director

Terri Collins

Michele Cooper

2020 MLS Director

Kym Plivelich

2019-2021 Director

2019-2020 Director

Glenn Porter

2018-2020 Director

Fabby Dees

2020 MLS Director

Derek Sprague

2020 MLS Director

Greg Holland

2020 MLS Director

Brian Tuttle

Michelle Valverde

2018-2020 Director

OUR AWARD RECIPIENTS FOR 2019

LINDA JAY

Polly Hamm Award for Lifetime Achievement

MIDGE JIMERSON REALTOR® of the Year

SCOTT KNOEB Salesperson of the Year

John Houchin

2020 MLS Director

Martha Johnson

2019-2021 Director

Jenny Magana

2020 MLS Director

2020-2022 Director 2020 MLS Director

OUR RISING STAR RECIPIENTS FOR 2019

DEANA WITWER Affiliate of the Year

CALVIN COOK

Coldwell Banker Preferred, REALTORS®

KYLE KORMAN Premier Realty

TANYA CARRUESCO BRANDON MARTINEZ Watson Realty ERA

Miramar International, Mill Rock

NOAH SALINAS

Century 21 – Jordan Link & Company

LETTER FROM THE CEO

OUR PATH FORWARD TOGETHER Kim Huckaby

contribution by

KIM HUCKABY Chief Executive Officer

I

am so excited to take the reins of this exceptional Association and I’m enthusiastic about our path forward together. I am particularly fortunate to be surrounded by such a talented leadership team and staff as we take the Association into the future, and I am grateful for your confidence in my leadership.

I am taking up a role that I have had great respect for since I joined the Bakersfield Association of REALTORS® nearly seven years ago. Many of you know me in my position as the Association’s Government Affairs Director, where I have had the privilege to work and fight for your profession and the industry side by side with you on critical issues such as Property Assessed Clean Energy. Like you, I believe that home ownership is at the center of the American Dream and the key to prosperity and financial security. Moreover, I fiercely believe in the value of what our members do and deliver each day.

The challenges that lie ahead are big ones for all of us. We all know and sense how fast the profession and the real estate industry is changing. The pressure is on and the expectations

I believe that home ownership is at the center of the American Dream and the key to prosperity and financial security. are high from all sides. From bad housing policy, to shortages in supply, to the way the economy is changing in general. For example, just look at how we pay. We use Amazon, Apple, Google Pay – physical credit cards are now even being phased out. Look at how we watch. We used to go to movie theaters, now we have streaming from our living rooms. Look at how we eat. We can order from any restaurant with a tap of a button.

Because of this, most industries have been shaken up (travel, tv, music, transport, retail etc.). But we are lucky. Consumers remain vigilant and still see the value in the services and experiences that only REALTORS® can provide. Which means that there is a real opportunity here to leverage this client need by delivering an exceptional and compelling experience.

Each day that you roll up your sleeves, you work with real live people, with families who

are making decisions based on your expertise and knowledge. This consultative approach and complex human need can’t be replaced by technology, but complacency and status quo are not an option. We have to continue to fight damaging public policies and continue to expand and adapt with the changing environment we face.

It’s clear that in a world of clicks and instant gratification, we must focus more and more on our value proposition. The Association is no exception. Changes are coming, such as what we have recently seen with NAR’s mandated Clear Cooperation Policy. It’s an example of taking an internal look, asking the hard questions, offering solutions, and having courage to move forward to make the changes needed. We must always be asking how we can be better.

I am so proud of our Association, its members, and the benefits and services we offer. I hope to hear from all of you and to motivate you to get engaged as we begin this new path forward together. We welcome all of your comments, ideas, and suggestions. My door is always open.

This Association is truly a special organization, and again it’s my privilege to work for all of you that make a difference in the lives of so many every day.

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The School of Radsick

BY KATHERINE MECHLING

O U R F U T U R E B E G I N S T O D AY !

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HERE’S A RUNNING JOKE in Jeanne Radsick’s household: a series of family photos spanning quite a few years that perfectly captures what used to be their typical evening at home. The years change, the décor and lighting change, but at the center of every single photo is Radsick — surrounded by her children, wearing the same green bathrobe, reading aloud from a book.

“It’s hysterical,” says Radsick, “the same deal every time. That was the hub. I was always reading something, and because I could read with expression, they would become engrossed, they would listen.”

Radsick’s hub has of course changed a bit since her seven children grew up, moved out and had children of their own. But today’s hub isn’t that much different than it used to be: It still features Radsick at the center of a sphere, but the bathrobe’s now a suit and her audience is no longer her children, it’s her fellow agents.

As 2020 President of the CALIFORNIA ASSOCIATION OF REALTORS® and a full-time agent at CENTURY 21 JordanLink & Company in Bakersfield — not to mention a grandmother to 11 — Radsick doesn’t exactly have an abundance of spare time. But even so, her office door is always open. New agents frequently stop by to ask questions, both because Radsick has an impressive 33 years’ worth of experience, and because she takes the time not just to explain, but to teach. “You don’t just give someone an answer and send them on their way,” she says.

“You take the time and do your best to walk them through the process so that they learn.

And by doing that, you learn a lot yourself — every deal is a different deal.”

Therein lies the principle behind nearly all that Radsick does, from the way she raised her children, to how she got into real estate, to her plans for her presidency: Learning is the key to everything.

THE ROAD TO REALTOR® Before she channeled her love of learning into real estate, Radsick used to think she’d become a classroom teacher. Instead, and rather surprisingly, Radsick’s first career veered in an entirely different direction: running a medical laboratory about a mile from Loma Linda University. But to Radsick,

the 11 years she spent at the laboratory were far from time wasted.

“Everything you do informs what you do for the future,” she says. “It’s all part of the learning experience.” Even though she started at the lab as a receptionist, within six years Radsick was running the whole operation.

She attributes the rise to her take-charge personality. “When decisions need to be made, I’m the person who steps up to say, ‘Okay, you do this and you do that.’ And that’s what we do.”

Radsick worries that in today’s environment, the focus on making REALTORS®’ lives easier is taking away from what makes REALTORS® so important to the transaction: their knowledge.

Though the lab was a great training ground for Radsick’s leadership skills, she stepped down in 1986 when the family moved to Bakersfield so Radsick’s husband could accept a position as vice principal of a local elementary school. Now without a job, Radsick took the opportunity to revisit an idea that had long been sitting in the back of her mind: real estate. Radsick’s father had been a REALTOR® when she was young, and she still remembered helping him go through his binders of listings, taking out the little 3x5 index cards for sold properties and inserting new ones. Real estate had always intrigued her.

She got licensed in ‘87 and poured herself into the work, riding the caravan bus with her colleagues so she could memorize the street names and layout of the city. And any time an opportunity came up to get more

involved with organized real estate — any time there was a chance to join a committee or sit in on a meeting — Radsick took it.

“I’d like to say [I get involved] because it makes me feel good,” says Radsick, “and it does. But you learn so much. People don’t understand that, they say, ‘I’m just too busy.’

Really? Are you really too busy to learn?”

Not everyone can manage Radsick’s level of organizational involvement; her service history from just the past 20 years fills five full pages, single-spaced. But Radsick attributes her success in real estate in no small part to her desire to always learn as much as she can — and she wishes more REALTORS® felt the same.

WHAT’S RIGHT ISN’T ALWAYS EASY To Radsick, education is the cornerstone of the entire REALTOR® profession. But even though the brokerages and the local, state and national associations provide so many opportunities to learn, they have very little power to enforce that learning.

“Agents are independent contractors,” explains Radsick, “and once you start demanding your agents [take courses], then they become employees. So we’re in this situation where we have agents who don’t know how to read a contract. They just don’t look at it. They fill in the blanks without really understanding it because we’ve made it easy for them to fill in the blank… we’ve done it to ourselves. We continue to make everything easier, but easier doesn’t equal understanding.”

And understanding is critical to the REALTOR® profession — after all, that’s why people hire REALTORS®: because they know all the ins and outs of the complicated process that is buying and selling homes.

“We are the hand-holders,” says Radsick.

“Our clients have confidence that we know what we’re doing, that we will save them from themselves and help them get to where they want to go. When I have a buyer, I really try hard to have that buyer sit across the table from me when I write the offer so I can explain it to them… so they completely understand what they’re signing. iBuyers can’t replace that, not fully.”

Continued on page 10

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Continued from page 9

Letter from 2020 C.A.R. President

We have rolled into the Spring buying season and homes are moving quickly.

Buyers are out in droves at the home

improvement stores, and open houses are getting attention. Everything points to a good year. The economy is moving along, and the economists do not see a slowdown, rather a stabilizing economy. We are going to continue to see intrusion from the internet-based competition, so I would urge you to know what your value is when you talk to buyers and sellers. Know what they charge to sell a home versus what you charge, and what you can do that would be of benefit to them. The buyers need your guidance and they need someone to guide them through a complicated process. Most buyers rely upon their REALTOR® for recommendations for lenders, contractors, and inspectors. Make sure that you know what the typical charges will be, and that they are not going to be charged additional points. We recently had someone come to us saying they had an out of area lender, and they were cashing out their 401k because they wanted a smaller payment. It turned out they did have a credit ding (that was repairable) but were being quoted 8% interest!! After a few weeks of work, they were able to qualify for a loan at 4% and did not have to use their 401k at all. Know and trust the lenders that you work with to be vested in helping your buyers without taking advantage. There are loan products back in the market that were part of the issues in the last recession. Know what to ask and be the advocate for your clients.

Be the person who will respond and talk to them, and I can pretty much guarantee that you will not be replaced by an algorithm.

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®

Radsick worries that in today’s environment, the focus on making REALTORS®’ lives easier is taking away from what makes REALTORS® so important to the transaction: their knowledge. When team members hyperfocus on one part of the transaction and never see the deal in its entirety, or when agents stop trying to learn more about anything beyond what they need to know to get certified — that’s when the REALTOR® profession is at risk.

Luckily, according to Radsick, there’s a simple solution. “Show up. Seriously, that’s it: Show up. [For instance] do I sell commercial property? No. But I’m there every month at the commercial investment meeting because they bring speakers that are informative. Why wouldn’t you want to know?”

LEARNING MATTERS NOW MORE THAN EVER There are some clear challenges ahead for California real estate: a shifting market, an unpredictable state legislature and an affordability crisis that’s worsening every year, just to name a few. But Radsick is optimistic that REALTORS® will figure out how to manage the challenging times — if for no other reason than that they have to. “[These challenges are] not going to go away tomorrow,” she says, “and neither are we.”

It’s like the year when six of Radsick’s children were on six different soccer teams at six different schools (a time Radsick understandably refers to as “a nightmare”).

Under less-than-ideal circumstances, Radsick was able to coordinate all those schedules, be first to arrive at the office almost every day and still make time to educate herself and broaden her horizons.

Right now, the times may be getting tougher, the future may be uncertain, but it’s up to REALTORS® to face those challenges head-on. Radsick’s advice?

Educate yourself. Join something. Show up. And remember that the job of a REALTOR® is not to be taken lightly.

“We are a product of where we are from,” says Radsick. “We are homegrown.

So as REALTORS®, we need to give people the opportunity for homeownership as best we can.” The better REALTORS® understand just how important that job is, and the harder they work to learn all the nuances of how to make it happen, the stronger the profession will be.

Reprinted with permission from California Real Estate magazine, copyright 2019 by the CALIFORNIA ASSOCIATION OF REALTORS®, all rights reserved.”

R EA LT O R S ® A R E “A M B ASSADOR S” TO THE ASSOCIATION

Sustainable Groundwater Management Act (SGMA)

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A Ripple Effect that can Hinder Homeownership

he Sustainable Groundwater Management Act (SGMA) was signed into law in 2014. This monumental legislation has changed California groundwater management, and thus its use, forever. The impact this law has on Kern County property values is extremely significant.

In the simplest terms: 80% of California water supply comes from Northern California (north of the Delta), and 80% of the population is in Southern California. In the 1950s, taxpayers built the State Water Project canal that runs along the west side of Kern County, as well as the Central Valley Water Project, also known as the Friant-Kern Canal, along the east side of Kern’s valley. During the years the farmers in the Valley received their full surface water allocation (water from the canals), there were no issues. Then, a series of new laws and regulations, and lawsuits, changed the delivery of water and the reliability of surface water. Because of these protections, 50% of our total water is diverted to the ocean via the Delta for salinity control.

There are 850,000 irrigated acres in Kern County, 30% of which is permanent crops.

So, as famers received less and less of the surface water (in which they have to pay 100% whether they receive it or not) they had to supplement with groundwater. Couple these environmental constraints with a sevenyear drought… and we have major issues.

California’s largest water storage is snowpack in the Sierras. So, when there is less snow due to a drought (or unmaintained forests), less water comes down the rivers, to the lakes, and then to the canals. Today in Kern, 36% of the water supply used is groundwater, 20% comes

from the Kern River, 12% comes from the Friant-Kern Canal, 26% comes from the State Water Project, and 6% from miscellaneous sources like recycled water projects.

Since surface water was not being delivered, farmers had to rely more and more on groundwater. While water policy is never easy in California, the concept is simple: it’s a balance sheet. Surface water is your income in, irrigation water is your debit out, and groundwater is your savings account. So, there are two ways to comply: increase your supply or decrease your demand. Farmers started using drip systems and irrigation techniques that use less water and continued to bank water (which they have been doing in Kern County since the 1980s). Urban users have reduced consumption as well through water restriction on new and existing homes. But it’s a catch-22: the state first takes away the surface water, so farmers have to rely on groundwater, then the state says they can’t use groundwater.

Under SGMA, local governments have to create a Groundwater Sustainability Agency

(GSA). This GSA is charged with creating a Groundwater Sustainability Plan (GSP). This allows local water districts to find a means to keep the water checkbook balanced. If the GSA does not come up with a plan by January 2020, the basin would then be considered on probation. Farmers, cities, cattlemen, oil companies, and others have been working together for several years to come up with a plan that we believe will be in the best interest of our community.

Our local GSAs are on track to have plans submitted and approved by the deadline.

These plans are not easy, they take years of technical studies. Since we cannot simply visually see how much groundwater we have, we have to use highly qualified scientific experts to give their best estimate.

However, this study casts a very dark shadow on the future of agriculture in Kern.

An economic study conducted by our local GSA showed a $15 million loss in property taxes in Kern County alone (according to the Highland Economics LLC study). Loss in property value results in loss of tax revenue, and it will no doubt have a ripple effect across properties throughout Kern. Whether or not you work in agriculture, this will affect you. Oil and agriculture are the two largest industries in Kern and any additional burdens on these industries will affect everything in Kern, including home values and wages of future homeowners. As the REALTORS® mission is to increase homeownership, it behooves us to help our other industries to ensure they thrive so they can employ more people who can one day own a home.

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C H A R I TA B L E

F O U N D AT I O N

Strong communities don’t just happen.

We build them.

Your Bakersfield Association of REALTORS® Charitable Foundation provides many ways to support our

community through: n Grants recommended by members and local non-profits for property-related assistance n Community Improvement Projects involving our members n Housing Education for the consumer and community-oriented organizations around affordable housing

There are many ways to amplify our impact as a REALTOR® community.

Help us build a stronger Bakersfield.

Your association’s Foundation supports causes you care about through partnerships that lead to a safe, healthy, vibrant Bakersfield.

Discover more about how to amplify your impact at www.barcf.com

Your association’s Foundation supports causes you care about through partnerships that lead to a safe, healthy, vibrant Bakersfield

Discover more about how to amplify your impact at www.barcf.com

Amplify Your Impact

C H A R I TA B L E

F O U N D AT I O N

Bakersfield Association of REALTORS® Charitable Foundatiaon is building a stronger community through caring, serving, and giving.

contribution by

DEREK SPRAGUE

President of the Bakersfield Association of REALTORS® Charitable Foundation

REALTORS® are the heart of our community.

In addition to guiding homebuyers, REALTORS® are involved in our children’s schools, active at church and neighborhood events, and are regulars at other service organizations. When the Bakersfield Association of REALTORS® Charitable Foundation began a multi-year process to expand its purpose

education, civic engagement, safe communities,

University Bakersfield. These scholarships

and healthy families. The Charitable

continue to make the same impact every year.

Foundation will continue partnering with other

We will continue to grant these scholarships to

like-minded organizations to fulfill this vision

students with like-minded goals to pursue their

and purpose.

education at the start of their career.

Expect a more targeted effort in raising money and our support of other non-profit organizations. Moving forward, the Charitable Foundation will look to support charitable organizations whose mission is directly tied to real estate and housing, or contribute to the real estate and facility needs of charitable

to include our charitable

foundations with shared values.

fundraising efforts, the challenge

This consistency will reinforce

was how to compliment what

our message that REALTORS®

our members do every day. Let’s

are the foundation of our

amplify your impact and keep

community.

REALTORS® at the center of our community.

The Charitable Foundation is prepared to

For decades, the Bakersfield Association of REALTORS® Charitable Foundation has awarded scholarships

The Bakersfield Association of REALTORS® Charitable Foundation is excited to grow, but change is always scary. The opportunity to expand the Charitable Foundation would not be successful without the support of our Affiliate members. Affiliates are the backbone of our entire organization and I am thankful for their support of our Members. I especially want to thank the “A” Team; a core group of dedicated affiliate volunteers that go above and beyond to support our members. Show them some love as they sponsor association meetings throughout the year and by participating in their popular Meet the Affiliates events.

Over the next several months, there will be opportunities to donate time or money to support the growth of the Charitable

debut a new look and message to our members

to high school seniors with an interest in a

that centers around REALTORS®, Affiliates,

real estate career. In fact, I was one of those

Foundation. If you have a giving spirit, this is

and friends building a stronger community

recipients. At the time, I had not committed

your opportunity to own it and get involved.

through caring, serving, and giving. This is

to the industry yet, but I was interested in

We have an incredible group of REALTORS®

complimented with establishing organizational

business and the scholarship was extremely

and Affiliates, so please take the initiative, show

values centered around homeownership,

helpful in my first quarter at California State

your support, and amplify your impact.

BAKERSFIELD REALTOR® MAGAZINE

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How School Bonds

contribution by

Impact Property Tax

of the new bond proposal; and the District’s

MICHAEL TURNIPSEED

openness and transparency. Based on

Executive Director, Kern Taxpayers Association

this data, the KernTax Board decides to support, oppose, or take “no position” on

Founded in 1939, the Kern Taxpayers

the bond issuance. Post-election, KernTax

Association is the guard dog protecting

now appraises, in advance, bond issuances

the interests of the Kern County taxpayer.

based on Total Debt Service (TDS) which is

As a member-supported 501c4 non-profit

principal plus interest and fees. In 2017, well-

corporation, its mission is to bring about

structured, 30-year current interest bonds

more accountable, effective, efficient, and

have a TDS of 1.80; 25-year bonds are 1.60;

reliable government. KernTax crafts positions

15-year bonds are 1.30; and 5-year bonds are

based on adopted values, while basing its

under 1.10.

actions on common sense, innovation, and

In 2016, KernTax evaluated 15 school

the long-term view.

One area that KernTax has been very

bond measures in Kern County. The team

involved is bonds, particularly school district bonds. Before the passage of Proposition 39

Michael Turnipseed

worked with the Kern Community College

valuation growth, which resulted in tax rates

District to craft a $503 million bond measure,

in 2000, about 55% of local school bond

significantly larger than $30. A few locally

ballot questions succeeded in getting the

will top $75.

previously required 2/3 vote. In the wake of

KernTax has been actively watching school

its passage, about 85% of local school districts

bond tax measures since 2005. The Rim of

are passing bonds with the new 55% approval

the World United School District in Lake

requirement which authorizes property

Arrowhead issued the most expensive bond

taxes above one percent. The proposition

issuance to date in California. It issued

stated bonds could only be issued if the tax

$283,612 in bonds in 2010. By the final

rate levied by the school district, at a single

maturity date in 2039, the district taxpayers

election, would not exceed thirty dollars ($30)

will have to pay $6.65 million in principal

per one-hundred thousand dollars ($100,000)

and interest ($23.45 for every $1 borrowed.)

of taxable property when assessed valuation

Locally, in 2011, Fairfax Elementary School

is projected by the district to increase in

District issued $1.02 million in capital

accordance with Article XIII A of the

appreciation bonds. By the final maturity

California Constitution.

date in 2048, the district’s taxpayer will have

The rate is $30 for elementary and high

to pay $15.6 million ($15.25 for every $1

school districts, $60 for unified school

borrowed.) This was the wakeup call needed

districts; and $25 for community college

for KernTax to start monitoring actual

districts. Bonding capacity is 1.25% for

bond issuances.

elementary and high school districts, and

Since 2007, KernTax’s school bond

2.5% for unified and community college

evaluation process has evolved. The current

districts. Many times, districts have

process weighs these factors: past bond

significantly overestimated future assessed

performance; analysis of needs and wants; review of the actual project list; evaluation

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BAKERSFIELD REALTOR® MAGAZINE

over 25 years, with five-consecutive, five-year bonds, with total interest and fees under $40 million; that is a TDS of 1.08. This TDS saves District taxpayers $360 million over 25 years. The Kern High School District reduced its bond measure from $660 million to $444 million and reduced the length of bond issuance from 30 years to 10-15 years, with a TDS of 1.20. Since 2007, KernTax engagement with school districts has helped Kern County taxpayers avoid over $2 BILLION in school bond payments.

School bonds are just one focus area for KernTax. We engage in many other issues for all local industries. In addition, each year we host the Kern Leaders Academy, a unique education and training program that introduces creative solutions to enhance the visionary leadership within our region. The Bakersfield Association of REALTORS® members have been active participants in this program. For more information, please visit www.kerntaxpayers.org.

Technology Committee Offers Live Demonstrations

Refine Your Skills to Help Save Time and Money contribution by

ANNA ALBIAR

COLDWELL BANKER PREFERRED RLT, COFFEE

In today’s technology driven world, buying and selling real estate looks a lot different than it did even a decade ago.

Buyers can download countless home search apps right from their smartphones and pull up relevant information about a home they may be interested in. Sellers can track the number of potential buyers that favorite their home on a home search site. As REALTORS®, we need to be just as tech savvy as the clients we serve. The goal of our Technology Committee is to bring the latest technology trends to our REALTOR® members and help them implement the latest tech tools in the home buying/selling process. Our committee’s mission statement: Evaluates and advises with respect to available technology to enhance and promote professionalism and efficiency. Increases the comfort and technological skill level of our members. I would like to invite you to join our committee, which will meet at the Bakersfield Association of REALTORS® on the first Tuesday of every month at 10AM. We are kicking off our first quarter and bringing our members the tech tools that are used every day in our business. Tools such as Zipforms, Digital e-signing, Realtors Property Resource® (RPR), and of course new enhancements to the MLS. Start 2020 off right by coming to the

Zipform Training Live Demonstration with Ed Charboneau, C.A.R. Zipform Product Coordinator on February 5th, followed by four TUG (Technology User Group) events:

March 12th 1) ZIPFORM TEMPLATES Templates within Zipforms makes you a more efficient agent.

Learn how to set up templates for a listing and/or a purchase.

Presenter, AJ Bhuee

March 26th 2) ZIPLOGIX DIGITAL INK Ziplogix Digital Ink on Zipforms- Agents are using Digital Signature tools to complete their transactions. Ziplogix Digital Ink is a FREE REALTOR® member benefit. DocuSign, DigiSign, and Adobe are a few of the other options available.

These tools allow buyers/ sellers/agents to create a paperless transaction and makes it more convenient and efficient when signing contracts, disclosures, and offers.

Presenters, AJ Bhuee and Anna Albiar

April 15th 3) REALTORS® PROPERTY RESOURCE (RPR) RPR is another FREE member benefit that is available through NAR. With the RPR mobile app, an agent can send a client a report of their home’s value and quickly prepare a comp analysis report and email it within a few short minutes. RPR online is also integrated with Zipforms, making it easy to begin a Zipform listing/purchase transaction right from the RPR site with the benefit of merging homeowner names, APN information, legal description, etc. into your Zipform transaction automatically.

Presenter, Anna Albiar

April 30th 4) MLS Touch & MLS Basics- Interactive Map Search/Client Portal Training & Auto Prospecting. Learn the new enhancements to the existing map search as our MLS is always adding new tech tools. If you have not downloaded the MLS Touch App, you are missing out on a great FREE tool.

Presenter, Jamey Lyster We look forward to interacting with you at our TUG events throughout the year!

BAKERSFIELD REALTOR® MAGAZINE

15

Success as a REALTOR®comes with having a firm grip on disclosures! Test your knowledge with these

Questions & Answers properties have matters that may affect the value and desirability of the property. The buyer should review the seller disclosures and obtain independent inspections by appropriate professionals to establish facts important to them. The services of a buyer’s agent will help in ascertaining that important issues are addressed.

contribution by

JOE NEWTON

1

WHAT ARE THE BUYER, SELLER, AND AGENT RESPONSIBILITIES IN PROPERTY DISCLOSURES? The successful outcome of a real estate transaction is greatly enhanced and satisfying if all parties understand the scope of their disclosure duties in the transaction. Buyers, sellers, and licensees have an obligation to deal honestly with each other knowing that every property normally has defects; some small and some large while some obvious and some not so obvious.

The REALTOR® will be helpful by directing parties to information sources and professionals who are trained to inspect and answer certain questions. Additionally, they will assist in performing tasks and handling certain aspects of the transaction. The licensee will also make their visual inspection of the property, noting any “red flags.”

WHAT MUST A SELLER DISCLOSE ABOUT THE PROPERTY? Any known material defects about the property are to be disclosed by the seller. That typically is accomplished through the use of

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BAKERSFIELD REALTOR® MAGAZINE

the Transfer Disclosure statement and other contractual forms. A buyer will discover any problems once they occupy the property so disclosing the problems up front will help to lessen the surprises invoked by the buyer’s discovery when they move in.

WHAT ARE THE BUYER’S RESPONSIBILITIES IN THE TRANSACTION? A buyer should take an active role in the transaction. The buyer has an obligation to inspect the property and ask questions. All

WHAT ARE THE AGENT’S DISCLOSURE DUTIES? As mentioned above, the agent is required to treat all parties honestly and may not knowingly or carelessly give information that is false or misleading. The agent is not obligated to discover latent (hidden) defects in the property, but when representing a buyer, the agent shall disclose to the buyer any known material facts that affect the desirability or value of the property.

WHAT ABOUT INSPECTIONS AND INVESTIGATIONS? Often a seller does not know about a defect or problem with the property. A seller may not be aware that a repair was done incorrectly and therefore the problem remains. Also, something may be less important to the seller but may

be an issue with the buyer. That is when an appropriate inspection by a professional will enlighten the buyer in determining the condition of the property. At the same time, the buyer must personally inspect the property and ascertain facts through diligent attention and observation. Finally, parties should be reminded that everyone involved in a transaction plays a role in obtaining information that allows an informed decision regarding the property. It is critically important that the buyer and seller, with the licensee, actively participate in this process to ensure that their needs are properly addressed.

2

IS A REAL ESTATE LICENSEE OBLIGATED TO PRESENT ALL OFFERS TO A SELLER? Answer: NAR Code of Ethics: ARTICLE 1, Standards of Practice 1-6 and 1-7 require REALTORS® to submit offers objectively and as quickly as possible, even after another offer has been accepted unless this obligation has been waived in writing.

MLS RULE 9.2 requires a listing broker to present the offer as soon as possible or provide the cooperating broker a satisfactory reason for not doing so.

MLS RULE 9.3 requires a listing broker to submit to the seller all offers until closing, unless instructed otherwise by the seller.

MLS RULE 9.4 gives the cooperating broker the right to participate in the presentation of the offer, unless it is objected by the seller. Business and Professions Code Section 10176 and 10177 provide for potential disciplinary action for misrepresentation, engaging in dishonest dealing, negligence, or incompetence.

REMINDER: Effective January 1, 2019 the NAR Code of Ethics was amended (SOP 1-7) to include language that a listing broker or agent is required to respond in writing that an offer was submitted to the seller if the cooperating broker who submitted the offer so requests. The presentation of offers is one of the ways in which a listing agent “protects

OMBUDSMAN REPORT

SEPTEMBER - DECEMBER 2019 n 295 calls were received by our Ombudsman

2 calls were arbitration complaints against an agent which were resolved n

6 grievance/ethics packages were mailed to complaining parties n

and promotes” the interests of the seller, so the agent should take instructions from the seller on how the offer is presented.

broker and seller and the MLS will also require a seller instruction to exclude the listing from MLS Services.

WHAT DOES THE DEPARTMENT OF REAL ESTATE SAY ABOUT “COMING SOON” ADVERTISING? The DRE recently addressed the issue of “COMING SOON” advertising by giving their view of the “best practices” for listing agents. They say: A. When available, market the property using MLS Services or other broad based advertising media.

B. Be certain the seller agrees and understands how the property will be marketed in this transaction.

C. Do not accept nor act on offers until the property has been broadly marketed.

D. Obtain written permission from the seller that the property may not receive the best sales price.

E. Avoid double ending a property that is not broad based marketed. A dual agent would need to demonstrate that the agent acted in the best interest of the seller and worked to achieve the best offer for the seller.

NOTE: The C.A.R. Residential Listing Agreement (RLA) fully explains the benefits of using the MLS and the impact of opting out.

Paragraph 5 of the RLA is initialed by both

WHAT IS THE DIFFERENCE BETWEEN “WRITTEN CONSENT” and “INFORMED CONSENT” WHEN EXECUTING A CONTRACT? Informed consent is an agreement by a party to a contract made AFTER the party has been advised of all material facts. It appears often with “dual agency agreements” and or “exclusive buyer’s agreements.” Agents should not simply point to a client’s signature as evidence of their informed consent. It calls for a full and complete Explanation to be given so that the client will truly understand their options in order to make an “informed” decision. Written consent may not necessarily be informed consent.

What matters is the client’s opinion. Giving a client a “dual agency” agreement at the time of executing an offer with the parties does not necessarily give the client adequate time to agree without first understanding the effect of a dual agency (such as representing a relative in the same transaction.)

Letting a buyer know of a conflict of interest should not be done after signing an agreement.

Instead, they should be aware of their options before signing.

3

4

regarding cases that could not be resolved

n

68 calls requesting information on deposits

n

104 calls were grievance/ethics complaints against agents that were resolved

n

84 calls requesting information on real estate procedures

n

0 calls on a complaint against a non-association member

n

10 Tehachapi calls

n

1 Kern River Lake Isabella calls

n

0 Arbritration packages were mailed to complaining parties regarding a case that could not be resolved n

n

n0

anonymous calls

0 Violations of public trust cases reported 20 cases referred to Association mediation

BAKERSFIELD REALTOR® MAGAZINE n 1,012 Year-to-date total

17

B A K ER S F I E L D ASSOC I ATI ON O F RE A LTO RS ®

RONDA 2020 PRESIDENT

NEWPORT

A special thank you to our Inaugural Partners

REALTOR® of the Year – Agape Mortgage, Salesperson of the Year – Personal Express Insurance Company, Partners – Agentcor Realty, Coldwell Banker Preferred, Le Beau Thelen LLP, Attorneys at Law, Old Republic Home Protection

A SPECIAL THANK YOU TO OUR

ELITE PRESIDENTIAL

SPONSORS

18

BAKERSFIELD REALTOR® MAGAZINE

RONDA NEWPORT

AN EVENING UNDER THE STARS INAUGURAL CELEBRATION

BAKERSFIELD REALTOR® MAGAZINE

19

CONSUMER FEDERATION OF AMERICA STUDY

New Research Study Analyzes

Hidden Real Estate Commissions STEVE MURRAY, Real Trends President

the decline in the national average commission

ith a slew of lawsuits attacking the way commissions are charged, it’s not surprising the Consumer Federation of America has a new report out. We analyze the results.

On October 28, the Consumer Federation of America released a new research report entitled “Hidden Real Estate Commissions: Consumer Costs and Improved Transparency,” wherein they share the findings of their research buttressed by other historical findings of this topic. Their timing is not surprising given the state and national lawsuits at-tacking the way commissions are charged and the actual level of commissions.

rate of between 40 to 45 basis points in the last

Consumer Federation of America (CFA): For most major consumer services, consumers can easily access information about prices. A large number of services disclose their prices online.

REAL Trends (RT): Well, many do, except other professional services like doctors, hospitals, accountants, and lawyers. Go ahead and find their prices online.

CFA: Traditional firms that dominate the residential real estate brokerage industry choose not to advertise their commission levels or disclose these levels on their websites.

RT: That is because commissions are negotiable between an agent and the consumer. They always have been. And, they are being negotiated at increasing levels as confirmed by

typical commission rate was either 5% or 6%.

W

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six years. Also, Redfin, HelpUSell, Assist2Sell, and thousands of other discount brokerage firms make offers of low-cost commission prices every day in a large number of markets, yet they have less than a collective 2% market share in the country. What does that tell us?

CFA: Not surprisingly, many consumers do not know that commissions are typically 5-6% of the sale price. In a national survey of a representative sample of 2,009 adult Americans, only 32 percent said they thought that agents typically charged this amount. Even among the 453 who had sold or purchased a home in the past five years, only 44 percent believed that the RT: Again, how often does someone buy or sell

CFA: In the more recent 2019 CFA survey, the question was asked, “How frequently, if at all, do you think that real estate agents are willing to negotiate their commissions?” Some 33% said, always or most of the time, 46% reported some of the time, and 21% said never or almost never.” This survey also showed that for those who bought or sold a home using an agent in the past five years, 45% would always or most of the time, negotiate, and 37% said they would negotiate some of the time.

RT: Their survey debunks their high-level statement. While few brokerage firms or agents publicize their commission rates, a majority of agents do negotiate the commission they charge.

This is a fact well known to most brokerage firms and agents. They deal with it every day.

number–but heck who cares about doing real

CONCLUSION I’m sure that the Consumer Federation of America does good work in many areas. But, their historical antipathy towards the residential brokerage industry shows through once again in this release. Their 2019 survey shows that a majority of consumers are aware that commissions are negotiable. And, while it’s true that many consumer product firms publish their prices, most professional practices do not and never have. Again, while it’s clear that real estate commissions are negotiable, when was the last time you negotiated with your doctor, lawyer, accountant or dentist?

research?

This article reprinted with the permission of Real Trends Inc. Copyright 2020.

a home? Research says they do it every 8-10 years for most families. Yet, somehow, they are supposed to remember what the commission rate is or was or might be. What was the charge you paid the last time you had your teeth cleaned, or had your taxes done? Do you recall what you paid?

CFA: In the United States, consumers pay an estimated $100 billion annually in commissions.

RT: That number is too high by about $30 billion, or 42% higher than the likely real

Keep America Beautiful

Great American Cleanup Saturday, April 18, 2020

contribution by

JESSICA FELIX Community Relations Specialist, City of Bakersfield

R

Solid Waste Division, Keep Bakersfield Beautiful

EALTORS® and Keep Bakersfield Beautiful understand that litter can be bad for our local economy and reputation. It’s probably no surprise to you that according to Keep America Beautiful research, litter can decrease business and decrease property values in its vicinity. Reasons like these are why Keep Bakersfield Beautiful organizes thousands of volunteers to clean up public eyesores in our community annually. Locally, Keep Bakersfield Beautiful and Mayor Karen Goh will have our main volunteer event of the year, the Keep America Beautiful Great American Cleanup™ (GAC) on Saturday, April 18, 2020.

GAC is the ultimate spring cleaning community service event in the country and Bakersfield. Typically thousands of Keep

Bakersfield Beautiful GAC volunteers come together to tackle litter and other blight in several dozen neighborhoods. The tremendous boost of support that volunteers give Bakersfield that day is evident in the thousands of pounds of litter, illegal dumping, and debris cleaned up, along with nearly 25,000 sq.ft. of thriving community garden space improved. The coordinator of the Keep Bakersfield Beautiful Committee Jessica Felix says, “Many volunteers share that they love doing GAC every year as a way to improve the environment and show their community pride.

It’s also a time to take a few moments to put our phones and other devices down and reconnect with our family, friends, and coworkers.”

You may sign up to volunteer for the 19th Annual GAC with Mayor Karen Goh and Keep Bakersfield Beautiful now on Eventbrite.

You may sign up as a volunteer crew leader, as a volunteer crew member, or as an individual

needing to be assigned a crew. Volunteers receive free cleanup supplies and are treated to a picnic, games, and, a volunteer awards and sponsor recognition ceremony. Most volunteers start at their assigned cleanup site at 8 AM and leave for Yokuts Park at 10 AM for a group photo with the mayor and other festivities.

You are also welcome to take part in this special community event as a sponsor.

Please call or email Jessica Felix about Keep Bakersfield Beautiful sponsorship opportunities and benefits at (661) 326-3539 or jfelix@ bakersfieldcity.us. You can find sponsor levels and the volunteer flyer on our website KeepBakersfieldBeautiful.us too. Please follow us on Facebook @KeepBakersfieldBeautiful and Instagram @Keep.Bakersfield.Beautiful for pertinent GAC updates, more activities, and other useful information.

BAKERSFIELD REALTOR® MAGAZINE

21

THE A TEAM

We have a special group of individuals who form a group of loyal, hard-working Affiliate Members called the A Team, who serve the Association in a variety of ways. Thank you for supporting our REALTORS®

SUZI BEATY, CHAIR Fidelity National Home Warranty 661.477.3906 suzi.beaty@fnf.com

DAN ARDIS, VICE-CHAIR San Joaquin Valley Mortgage 661.342.9381 danardis@sjvalleymortgage.com

DEANA WITWER Built Right Home Inspection 661.377.7777 deana@BuiltRightHI.com

JEFF AGUILERA RightStart Mortgage 661.578.9259 jaguilera@rightstartmortgage.com

MIKE GEORGE Agape Mortgage 661.324.2427 mikegeorge@agapemtgco.com

SHARI GEORGE Agape Mortgage 661.324.2427 sharigeorge@agapemtgco.com

MARY GUNSOLUS Cali Building & Home Inspection 661.829.5810 calibuildinghomeinspections@gmail.com

LISA HOOK-ESTES RightStart Mortgage 661.301.5472 Lisa4aloan@gmail.com

MISTY JEFFRIES Placer Title 661-345-2240 mjeffries@placertitle.com

CHEREYL NUNN Loan Depot 661.270.8601 cnunn@loandepot.com

JANETTE RAMSEY Janette Ramsey Insurance 661.328.9250 janette@jramseyinsurance.com

KAMRI ROBERSON Ticor Title 661-246-5947 Kamri.roberson@ticortitle.com

SARAH TUCKER Home Warranty of America 661.337.0362 sarah.simmons@hwahomewarranty.com

PAUL STEELE First American Title 661-302-7117 psteele@firstam.com

JAMIE TRAMMELL At Home Inspections 661.472.0202 jrtrammelljr@yahoo.com

BARBARA WELLS San Joaquin Valley Mortgage 661.703.2227 bwells@sjvalleymortgage.com

MLS Clear Cooperation Policy contribution by

SCOTT KNOEB

Frontier Real Estate Services, Inc.

NAR’s New Mandated Clear Cooperation Policy, MLS Statement 8.0.

On November 11, 2019 the National Association of REALTORS® Board of Directors voted to approve MLS Statement 8.0, also known as the Clear Cooperation policy.

The policy requires listing brokers who are participants in a Multiple Listing Service (MLS) to submit their listing to the MLS within one business day of marketing the property to the public.

NAR’s MLS Technology and Emerging Issues Advisory Board proposed the policy to address the growing use of off-MLS listings. The advisory board concluded that leaving listings outside of the broader marketplace excludes consumers, undermining REALTORS®’ commitment to provide equal opportunity to all. The policy doesn’t prohibit brokers from taking officeexclusive listings; nor does it impede brokers’ ability to meet their clients’ privacy needs.

Full text of MLS Statement 8.0 reads as follows: Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed

in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.

The Golden Empire Multiple Listing Service has adopted NAR’s mandated Clear Cooperation Policy, MLS Statement 8.0. beginning January 1, 2020 with implementation of citation policy fines May 1, 2020.

MLS Rule 13.2.2 Lockbox Requirements In response to growing concerns expressed by our membership regarding professionalism, particularly regarding insufficient communication practices including unreasonably delayed or absent responses, the Golden Empire Multiple Listing Service Board of Directors adopted C.A.R.’s Model Rule 13.2.2 Lockbox Requirements on December 3, 2019.

This new rule is effective as of January 1, 2020. C.A.R. Model Rule: 13.2.2 Lockbox Requirements: If any lockbox or other device giving access to On Market listed property for real estate professionals and/or service providers is authorized by the seller and/or occupant and is placed on or present on property listed through the Service, such lockbox or device must be one that is approved by the MLS where the listing has been submitted. The authorized lockboxes

sold by, leased by or otherwise offered through the local Association or MLS where the listing is submitted have been approved by the MLS. Unless expressly indicated otherwise by the MLS, for any other lockbox or device to be considered “approved,” use of it must provide reasonable, timely access to listed property such that (1) it allows all participants and subscribers timely access to listed property by reliance solely on data submitted to and residing on the MLS; (2) complete, accurate and stand-alone instructions are provided for accessing the listed property in the appropriate agent section on the Service; and (3) it ensures that the lockbox or device will provide reasonable access to listed property with any information, code or key needed to access the contents of the lockbox or device to be made available or access to the property otherwise scheduled within four [4] hours of initial contact in the event the lockbox or device requires the participating member to obtain additional information to enable access (ex: “call listing agent for entry code”) with said 4 hour response obligation in effect every day from 8am to 6pm.

The MLS reserves the right to require that the device be submitted in advance for approval. The MLS also may revoke the approval and/or subject the participant to discipline if the device is used in a manner that fails to continue to satisfy this requirement. Failure to provide reasonable and timely access as required by this section will subject the listing agent to discipline and potential fines. More than one lockbox or access device may be used on a property if one of them is approved where the listing is submitted.

BAKERSFIELD REALTOR® MAGAZINE

23

The State of the iBuyer Footprint

Last year, iBuyers accounted for less than 1% of home transactions in the United States BRIAN BAIR, Real Trends

currently serve because it has the potential to

bought and sold frequently. These home-buying

he landscape of real estate today looks increasingly diversified as new, tech-driven companies are entering the market and offering additional services to home sellers and buyers.

Now, there are multiple real estate tech players— some similar, some distinct—offering something that generally hadn’t been available in real estate before: a direct sale and simplified purchase.

These PropTech companies—referred to as iBuyers due to their specialties in near ondemand, tech-enabled home buying—are known for leveraging modern tech and connectivity to buy and sell homes. These companies have launched with significant public awareness over the past five years; as they grow in volume and their footprint in the industry widens, their offerings continue to mature beyond the novelty they introduced consumers to direct home buying for ease and convenience.

A testament to their success, even industryleading organizations like Keller Williams, are joining the movement. Consumers, investors, like-minded companies, and others are taking notice and starting to get involved to leverage the real estate tech impact that is taking shape nationwide.

scale and secure a more significant share of the

companies tend to operate on small margins,

national market. The demand for the iBuyer

so allocating resources in markets where they

solution is proliferating. It’s already changing the

are likely to have high volume is imperative. A

way homes are sold and purchased–even among

critical factor in the property purchase price for

traditional organizations.

these companies is the data surrounding recent

T

OPERATING IN LIMITED MARKETS Though this tends to be a big news topic to industry professionals and active home sellers and buyers, the reality is that iBuying companies are currently operating within a limited number of markets around the country and now command a relatively small portion of market share within those areas of the country. Last year, iBuyers accounted for less than 1% of home transactions in the United States. The reason such a relatively small-impacting movement is getting so much attention, however, is because the real estate industry has never experienced this kind of shift before—the technological upgrade many industries have already received. Many anticipate that this express version of home selling will continue to increase significantly in popularity and value to consumers over the coming years.

Most consumers are buying or selling where iBuying capabilities are not yet available. But maybe the topic is gaining disproportionate traction beyond the number of consumers they

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PHOENIX IS iBUYER HOTSPOT All the major players in this niche currently share the same 20 metro areas in the United States, where the iBuyer option is available today.

Of those markets, Phoenix has become known as the iBuyer hot spot. It is where iBuying began five years ago, and where consumers are most aware of this option. More than 5% of home transactions in 2018 were conducted by iBuyer companies there. Phoenix’s housing market could also be contribu-ting to the greater iBuyer market share in the metro, as well as the type of buyer in the area, and many other factors. If time alone is the crucial element, we can expect other iBuyer markets to reach this level of popularity within the next few years.

Consumers may wonder why these companies are all competing in the same markets, while the majority of home sellers and buyers nationwide

real estate activity in the area.

It accounts for similar homes in the same neighborhood, as that information can be used in making competitive offers.

Currently, most companies offering the iBuyer solution purchase single-family homes built after 1960 with common sizes and features that are on lots no larger than an acre.

While the parameters may seem narrow, houses with these qualities represent the majority of homes people are buying and selling today. At least for now, the iBuyer solution is focused on the most common properties to become available to as many people as possible in their markets.

As this model and the capabilities of these companies have become more sophisticated, some are beginning to expand their product offerings to provide more for the general population of real estate consumers.

do not yet have them as an option. As the iBuyer

iBUYER OPTION EXPANDING

niche is still being refined, these organizations

With the iBuyer option developing, and as

tend to find that specific markets are best for

participating companies continue to adapt

their services and optimized capabilities.

and offer more of what consumers want, their

ADVANCES IN iBUYING The iBuyer solution provides value to consumers when they can make competitive home offers quickly and efficiently. Algorithms, numerous data points, as well as real estate expertise, determine a competitive offer. These home buyers issue competitive offers in as fast as 24 hours. When this technology was first developed, it was helpful that homes were in homogenous markets with little variety. Now that abilities in iBuying have expanded, the most successful businesses (now using local professional expertise to make home offers) can serve neighborhoods where homes are more diverse.

Still, we see that the iBuyer offering is most heavily available in the southern parts of the country. Generally, where companies offer the instant cash offer, there is a substantial volume of newer home inventory—places where homes are

footprints around the country will continue to grow. It’s only a matter of time before all home sellers and buyers have the option to use the innovative solutions from these real estate tech innovators, wherever they are, to enjoy more streamlined home sales and purchases that promise certainty and control.

Brian Bair, Offerpad founder and chief executive officer is one of the most successful residential real estate agents in the United States. In 2017, Brian was awarded the Most Innovative Real Estate Agent of the Year by Inman, and REAL Trends + Tom Ferry The Thousand, as advertised in The Wall Street Journal named him the second highest-performing real estate agent in 2014 and 2017. Brian previously served as co-founder and managing partner of Lexington Financial, LLC, and Bridgeport Financial Services LLC. This article reprinted with the permission of Real Trends Inc. Copyright 2020.

8 Ways

to Manage Yourself during Stressful, Busy Times QUINT STUDER, Real Trends

Workplace stress is a reality. But how leaders manage themselves in the middle of the storm is everything. These insights can help leaders—from CEOs to middle managers—successfully navigate the stressors of the modern work environment.

T

here’s no question about it: Today’s workplace can be stressful. The long work hours, the endless flow of information, the competing demands on our attention—all of these factors can make us feel perpetually overwhelmed and out of control if not managed well.

The best leaders learn to deal with the conditions and problems that lead to stress in a way that keeps everyone on track. How you behave when times are bad truly defines you as a leader and sets the tone for how others manage the situation. If you create a culture where people fall to pieces when things get tough, productivity will suffer.

Here are a few suggestions for managing yourself with grace under stress: 1. Eliminate as much stress as you can by being a well-run organization. Work to create a best-odds environment for eliminating problems. Put proper processes and procedures in place for removing avoidable headaches. For example: n Plan for disaster by learning from mistakes and fixing the culprits. n Identify stress points and think critically about who they impact. What is causing increased work-loads? Use this evaluation to decide where to delegate work and identify team members who might need additional support. Don’t lower expectations. This will only breed excuses and erode performance over time. n Say no to some requests. This way, you don’t have to scurry around trying to do them and then later explain why you didn’t get them done.

2. Learn to prioritize and teach others as

well. A big to-do list should not freak you out.

Just use the checklist to work in a sensible order, evaluating what is most important.

Often, we try to close out small tasks to make room for bigger ones, when we should be prioritizing our to-do list and staying focused on the things that matter.

3. Simplify when things get stressful.

A good leader can make a potentially crushing workload feel manageable. By taking a calm and methodical approach, you can make a huge difference in helping others stay focused and productive and keep their stress reactions in check.

4. Create a culture of calm. Be sensitive to the messages you’re sending out — model calmness when things are chaotic.

The things leaders do, both positive and negative, get mirrored. And research shows that the ripple effect of negative emotions is considerably more intense than that of positive emotions.

5. Don’t pretend to be fearless.

A common mistake leaders make is to pretend that everything is fine when it isn’t.

Acknowledging that situations or unfavorable circumstances are real is the best way to build trust with your team and get them to invest 110% on solving the problem. This is not the same thing as getting bent out of shape. You can be honest and calm at the same time.

6. Master calming tactics and teach others to do the same. If you feel yourself starting to get overwhelmed by stress, here are a few ways you can calm yourself down quickly: n Walk away. Take a 20-minute break. n Go for a walk. Physical activity is a great stress reliever. Most of the time, a little natural sunlight can make a big difference in your mood. n Take a few deep breaths. Try to quiet your mind intentionally. Opening up the body allows for better blood flow, and deep

breathing puts more oxygen in the blood and can help minimize the impact of cortisol, the stress hormone. n Count backward from 10. Do it twice if you have to. Shifting your focus from the problem at hand to a relatively simple task can help you come back to your work with a fresh set of eyes. It also helps your brain reset and refocus.

7. Create a best-odds plan for staying healthy. This gives you the stamina you need—both physical and mental—to cope with stress and keep going. Sleep well, eat well, stay hydrated, and generally take good care of your body so you’ll be in tip-top shape mentally.

8. Be resilient/learn to reset. Setbacks will happen. Leaders must be able to bounce back quickly and continue to move forward even when things appear to be falling apart.

Resiliency is essential as leaders need to have the mental wherewithal to offer support and continue to direct their teams. Being resilient comes from having excellent coping skills, supportive environments with a lot of psychological safety, a strong sense of optimism, grit, and the mental and physical stamina to sustain and move through stressful situations.

As with everything else, experience counts for a lot. The more seasoned leaders will be better at handling stress just because they have had so many years to learn to cope.

They’ve seen what can happen when they don’t handle stress well, and they are more motivated to change. If you are a new leader, know that this is a skill you build just like everything else. Use these tools and tactics and see that it gets easier every day.

Quint Studer is the author of The Busy Leader’s Handbook (http://www.thebusyleadershandbook. com) and a lifelong student of leadership. He is also the founder of Vibrant Community Partners and Pensacola’s Studer Community Institute.

This article reprinted with the permission of Real Trends Inc. Copyright 2020.

BAKERSFIELD REALTOR® MAGAZINE

25

Membership Benefits How to get the most out of your dues…

With your commitment to our Association, we offer various REALTOR® benefits tailored just for you.

EDUCATION. Educational programs, products and services to enhance your knowledge and skills for greater success in your real estate business. Many are offered at no cost or at a reduced rate for members; including, classes, seminars and hands-on user workshops covering relevant, up-to-date topics and technologies for the real estate industry. REALTOR® designation classes are also offered.

ZIPFORMS®. zipForm Pluse with zipTMS and zipVault and zipForm Standard. FREE inline and desktop electronic forms, storage, and transaction management--$1,349 savings. Zipform Mobile. FREE zipForm mobile for members-- $25 savings. ZIPLOGIX Digital Ink FREE unlimited e-signatures for members--$100 savings. Forms Advisor and Forms Tutor. FREE solution for forms selection and usage instruction--$100 savings. https:// www.car.org/zipform/zf/ePUBS ePUBS for zipForms. FREE electronic publications from C.A.R. --$45 Savings. www.car.org/tools/zipForm/ePUBS/faqs.

C.A.R. Sample Legal Letters in zipForm.

FREE access to sample legal letters --$500 Savings. www.CAR.org/tools/zipform/ formlibraries sampleletter. zipForm MLSConnect. FREE MLS data connectivity to zipForm Pulse for members --$50 savings. www.car.org/en/zipform/zf ADVOCACY EFFORTS AT NATIONAL, STATE AND LOCAL LEVELS OF GOVERNMENT n FREE legislative support—more than $10,000 annual commission wage savings www.car.org/governmentalaffairs

n Our Government Affairs Director lobbies our local government agencies on issues that protect the real estate industry and private property rights.

LEGAL HOTLINE. FREE Legal advice services for members—average savings of $250 per call (213)739-8383. LEGAL Q&As Available to members is a full range of legal opinions pertinent to the real estate industry.

Developed by C.A.R.’s attorneys and available online at www.car.org/legal/ OMBUDSMAN SERVICES. As a REALTOR®, you have access to our Association’s Ombudsman who provides counsel, advice and education to REALTORS® and members of the public on our professional standards, monetary disputes prior to arbitration, as well as formal arbitration and Code of Ethics complaint policies and procedures.

ETHICS & PROFESSIONAL STANDARDS. REALTOR® Code of Ethics is designed to instill the highest standards of professionalism in the industry and elevate the image of REALTORS® in our community.

MLS AND TECHNICAL SUPPORT. Our MLS manager provides support and training on MLS issues relative to recent developments and trends.

COMMUNITY REALTOR® IMAGE. A public relations program aimed at serving the community and elevating the REALTOR® image through fundraisers for local charities and advertising in various publications.

BAKERSFIELD REALTOR® MAGAZINE

MEMBERSHIP DISCOUNTS. Available at participating retailers through the group buying power of the NAR and C.A.R. LOCAL STAFF SUPPORT. Professionals serving professionals. Our professional staff is here to support you and your business.

Mortgage Rescue. FREE C.A.R member Benefit, assisting members to move stalled transactions forward—Per transaction’s saved, members received an average of nearly $10,000 in commission income (213) 739-8383 CE in the Dues. FREE 45-Hour Package of Online CE Courses --$120 Savings. 45Free. car.org CALIFORNIA REALTOR EXPO. FREE EXPO admission for members --$250 savings.

Expo.car.org ClientDIRECT. FREE member online newsletter--$150 savings. www.clientdirect.net Research Reports. FREE of charge from C.A.R. --$130 savings www.car.org/economics/currentreserch Member Discounts Program. FREE and Discounted member benefits and Insurance --$300+ possible savings. www.nar.realtor/realtor-benefits-program

realtor.com® PROFILE. A realtor.com® marketing profile for you at no additional cost. Claim yours today at www.goo.gl/A01Zul

Market Updates and snapshots FREE updates for members --$50 savings per update. www.car.org/marketdata

REAL ESTATE STORE. A convenient location to purchase many of the supplies you need for your business. Prices are discounted for members, and charges can be conveniently made to your Association account.

MLSTouch. Mobile App that allows you to do searching, statistics, Brand and Share, Facebook posting and much, much more.

FAIR HOUSING PARTNERSHIP Implementation of the “Fair Housing Partnership” between HUD and REALTORS® available to members, facilitating their qualification to participate in HUD sales and demonstrating a commitment to fair housing practices.

26

GROUP INSURANCE. As a REALTOR® member, C.A.R. offers a wide array of group insurance plans, including errors and omissions insurance, with flexible premiums and discounts.

FIND. Members Only have access to everything on REALTOR.COM with added public records and demographics.

RPR. Realtor Property Resource or the RPR is a benefit for members of the National Association of Realtors or the NAR. A realtor who is a member of the NAR receives online access to comprehensive real estate market data, analytics and reports for each of NAR’s constituencies.

Want New Clients?

Gather and Leverage the Right Data KATHLEEN KUHN, Real Trends

Thanks to online property searches, you can gather and use a lot of valuable information about prospective buyers – if you know where to look.

M

ost prospective home buyers do at least some internet research when looking for properties. In fact, according to the National Association of Realtors, a full 50 percent of buyers found the home they ultimately purchased through an online search.

This trend toward online home research doesn’t just result in savvier, educated buyers.

It also generates trackable web searches that provide valuable demographic and behavioral data about potential buyers.

As a real estate professional, you can leverage this data to create potential customer profiles and generate leads. However, it only works if you’re getting the right numbers, through the right channels, and using them effectively.

BIG DATA MEANS BIG BUSINESS FOR REAL ESTATE In any business, reaching the right client at the right time is essential for landing a sale. This is especially true in real estate, where catching buyers and sellers at the exact moment they need

an agent is a key to generating business.

There are countless companies out there that collect real estate data and offer helpful analytics on those data points. With demographic data from the people who search websites like Realtor.com, Trulia, and Zillow, you can predict which of those consumers are most likely to turn into future home buyers.

These predictions can then inform lead outreach strategies, website features, and marketing campaigns that target potential buyers.

DISTILLING THE DATA FOR LEAD GENERATION Let’s say you obtain data from a real estate listing website. How do you begin to make sense of this massive amount of information?

You could spend hours (or more likely, days) sifting through each line of data to figure out which consumers have the most relevant activity to suggest they’re likely to buy or sell soon. Or, you could take advantage of tools that use big data to help real estate agents target leads.

Predictive marketing platforms like Buyside and SmartZip are designed to harness the vast amounts of consumer data and analyze it to predict which homeowners are likely to sell soon.

While these tools are compelling, they do come with a price tag. Fortunately, with a little

bit of know-how, you can access data analytics from free online resources.

U.S. Census Bureau data and City Data can help you create profiles of towns and city neighborhoods, and gather demo-graphic statistics of people who live there. Additionally, public property records can tell you how long an owner has currently lived in a home.

Knowing this may help you understand when someone is most likely to sell, based on average homeownership tenures in your area.

BALANCING DATA ANALYTICS WITH RELATIONSHIP-BUILDING While the right data may increase your pool of leads, closing deals is still all about building relationships. You still need to develop your reputation as a trusted local agent and provide excellent client service if you want to keep earning new business.

By striking the right balance between data analytics and relationship-building, you’ll be well on your way to finding great leads, generating repeat business, and getting referrals from satisfied clients.

Kathleen Kuhn is President and CEO of HouseMaster, the original home inspection franchise.

She oversees an organization with more than 320 franchise locations across the U.S. and Canada.

This article reprinted with the permission of Real Trends Inc. Copyright 2020.

BAKERSFIELD REALTOR® MAGAZINE

27

Building a Great Organization

Finding the right people to lead your company is vital to helping your firm weather any market.

TRACEY C. VELT, Real Trends Editor in Chief

In every organization, you have a hard worker, a likable, efficient person on your leadership team that you have nagging doubts about. However, you prefer to push those thoughts away. After all, you tell yourself, they work hard, and everyone likes them. Great, you’ve got someone who fits your culture, but your brokerage can’t truly get ahead until you position that person in the right seat on the bus.

I see this quite frequently at brokerages who struggled through the down market thanks to employees who stuck by them—maybe even took a pay cut. The employee wore multiple hats; after all, brokerages were barely getting by. They didn’t have money to hire, so the people in the office took on more responsibility, and now you’re loyal to them.

No one can predict the changes that will come our way in the industry. But, you can build a team that is ready to capitalize on those changes. According to the book, Good to Great, “The good-to-great leaders understood three simple truths. First, if you begin with “who,” rather than “what,” you can more

easily adapt to a changing world. If people join the bus primarily because of where it is going, what happens if you get ten miles down the road and you need to change direction? You’ve got a problem. But if people are on the bus because of who else is on the bus, then it’s much easier to change direction.”

Take a good look at the people who make up your leadership team and support staff. Chances are you know the people who aren’t in the right seats. The only way to truly market proof your business is to analyze the strengths and weaknesses of all leaders to ensure they are adaptable and can bring your business to the next level, no matter what changes are thrown their way.

This article reprinted with the permission of Real Trends Inc. Copyright 2020.

Your Professional Resources… we’re here for you!

Chief Executive Officer

Information Technology (IT) MLS Services Director

Jamey Lyster

Claudia Bugarin Professional Standards Administrator

Educationand Professional Development Director

Cindy Kiser

Ginger Edwards

Carol Duran

Linda Curutchague

Marrisa Williams

Meghan Cooper

Jenifer Pitcher

Kim Schaefer

Communications, Design & Development Director

28

BAKERSFIELD REALTOR® MAGAZINE

Member Services Manager

Member Services Speciialist

Member Services Administrative Assistant

Finance and Facilities Director

Government Affairs Consultant

Kickoff Mixer a Success!

YPN is offering incredible speakers and invaluable classes in 2020

For more information on how to join the Young Professionals Network (YPN) or attend any one of their events,

Call Marrisa at 661-635-2300

BAKERSFIELD REALTOR® MAGAZINE

29

It’s all in the genes Many REALTORS® have paved a road not only for themselves but for their children and grandchildren.

If history shapes the future, let the tradition continue from generation to generation. The Dandy family tradition represents three generations of REALTORS® at Kelly Real Estate. The team includes (l-r) James Dandy, Broker, Ann Dandy (granddaughter) and Brian Dandy (son).

Applications Available for Director Seats

REALTOR associations on the local, state, and national level all have a part in enforcing policies and standards that protect the associations and help the organization run smoothly. While the National Association of REALTORS® sets policies and provides overall leadership, the local associations have the most direct connection with members. ®

Commitment of Attendance at meetings, functions, etc.

Leadership effectiveness at the Association is achieved by members committed to providing continuity, which could include up to 7 years of service in the capacity of Director, officer roles and past president role.

Qualification requirements for Director seats: n Member

in good standing n Served on a minimum of three Association Committees (various committees acceptable) over a three-year period or one year as Chair of a committee. n Payment of $149 Political Action Fund Contribution n Two letters of recommendation (endorsement) 1. From applicant’s Broker (required)

30

BAKERSFIELD REALTOR® MAGAZINE

2. From a currently seated Officer, Director or Past Association President (Choose one)

n Monday, May 4 – Friday, May 8, 2020 Candidate Interviews

Election: Three Director Seats; Vice President, President Elect and Secretary Treasurer. The elected take office January 1, 2021.

n Wednesday, May 13, 2020 Ballots Sent Out

Timeline for Nomination Process:

n Wednesday,

n Monday, March 2, 2020 Notice of Election – Invitation for Officer/ Director Applications n Friday, April 17, 2020 Applications Due

n Friday, June 12, 2020 Election Closed by 5pm June 24, 2020, 10am - Election results released at Association Annual Meeting

SUCCESS

Welcome, New REALTORS

®

Your journey as a REALTOR® has just begun in making a positive impact in the lives of families in our community

new realtors ® NOVEMBER 2019

CONGRATULATIONS! Juan M. Bustamante – Keller Williams Realty; Alonso Cardenas – Miramar International – Riverwalk; Debra Cline – Miramar International; Jerry A Dufloth – Miramar International – Mill Rock; Phillip W. Gillet, Jr.- Phillip Gillet Jr R.E. Broker; Wendy Hidalgo – Care 4U Realty; Noah Jellie – RE/MAX Golden Empire; Diane E. Knight – Coldwell Banker Preferred, RLT; Cynthia E Nichols – Roger N. Lampkin, Broker; Julie Olsen – Stockdale Real Estate Group; Natalie Sanchez – Keller Williams Realty; Vricia Sanchez – Realty ONE Group Strong; Samantha J. Sellers – Infinity Real Estate Services

new realtors ® DECEMBER 2019

CONGRATULATIONS! Trevor J. Bender – Miramar International - Calloway; Amalita Belcher – Executive Realty & Investments; Chad J. Beeney – RE/MAX Golden Empire; Carlos Chavez – Dream Home Realty; Guadalupe Chavez – Golden Valley Real Estate Group; Calvin L. Calvin - Coldwell Banker Preferred, RLT; Mikaela Nikole Cadena – Keller Williams Realty; Carolina Diaz De Leon – Realty ONE Group Strong; Ann Morgan Dandy – Kelly Real Estate, Inc; Raymond Goyeneche – Central Cal Management; Olga Lydia Diaz Garcia – Clemmer and Company Real Estate; Bossco Huang – RE/MAX Golden Empire; Traci Imbelloni – Real Estate Professionals; Brandi D. Kovach – Century 21, Jordan Link & Co.; Ethan R. Martinez – Agentcor Realty; Alexander Thomas Mitchell – Coldwell Banker Preferred, RLT; Alan Perez Dominguez – Liberty Real Estate; Claire Felisa Quinonez – Century 21, Jordan Link & Co; Israel Salgado Solorio – Alliance Real Estate and Multi; LeAnn Williams – Destiny Rel Estate BAKERSFIELD REALTOR® MAGAZINE

31

stateof the

HOUSINGMARKET

2018 Compared to 2019

by MLS Area

2019 YEAR-TO-DATE STATS

Area

Dollar Value

# Sold

Average Sold Price*

2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

10

240

301

$50,540,602

$54,587,805

$214,595

$189,217

36

44

97.90

97.36

21

154

178

$18,678,003

$19,431,020

$126,586

$118,145

34

41

97.94

97.48

22

233

223

$46,357,914

$39,893,622

$203,508

$182,186

24

32

99.38

98.75

23

29

37

$11,319,450

$8,933,650

$430,133

$246,768

43

36

97.25

98.26

31

266

288

$47,047,626

$48,943,845

$177,535

$170,551

32

42

97.59

98.32

32

535

563

$106,541,405

$108,394,752

$215,990

$207,312

37

36

98.48

98.70

33

288

244

$68,641,889

$56,215,223

$256,771

$242,328

42

46

98.81

98.74

34

80

85

$25,386,150

$27,799,138

$324,554

$335,810

52

67

98.34

97.48

41

135

127

$22,272,683

$19,667,825

$168,240

$156,148

27

43

98.01

97.82

42

145

115

$29,751,919

$21,722,560

$201,545

$192,232

37

33

98.65

98.31

43

17

15

$4,092,250

$2,918,390

$240,490

$195,262

36

27

95.48

94.73

51

514

553

$91,208,893

$91,297,466

$186,496

$173,964

28

31

98.91

98.79

52

1499

1459

$364,911,245

$332,286,400

$255,749

$242,290

31

33

99.18

98.76

53

807

849

$276,215,646

$294,492,694

$346,213

$349,137

35

42

98.44

98.18

54

27

10

$11,622,142

$3,842,752

$431,415

$372,528

46

26

99.50

98.77

61

218

205

$66,220,045

$57,937,396

$304,959

$284,137

32

36

99.47

98.70

62

1065

1013

$343,609,610

$317,474,954

$324,082

$313,688

32

43

98.87

98.62

63

453

458

$180,464,177

$180,308,494

$404,679

$398,403

35

47

98.86

98.04

64

23

20

$11,117,590

$8,537,095

$483,373

$438,531

68

57

97.73

97.94

65

33

68

$10,299,552

$20,888,364

$313,972

$307,182

59

44

98.69

99.46

80

218

212

$67,907,099

$60,779,884

$319,169

$295,626

60

66

97.95

97.55

81

21

28

$3,500,425

$7,113,325

$166,526

$266,933

235

192

91.75

87.17

82

27

39

$4,938,250

$5,286,775

$207,131

$160,476

111

96

95.59

94.49

83

52

38

$13,830,115

$8,417,431

$265,964

$234,604

64

69

98.87

96.82

84

6

3

$3,083,075

$1,235,000

$670,000

$427,500

113

27

97.86

97.71

85

20

14

$5,488,400

$4,012,400

$308,963

$312,500

98

73

93.88

96.96

91

62

62

$10,384,180

$10,093,020

$167,487

$165,950

31

41

95.96

95.97

92

4

7

$1,379,500

$2,366,382

$344,875

$388,055

83

56

98.61

95.21

93

3

1

$457,500

$187,000

$152,500

$187,000

17

12

100.79

106.86

94

23

10

$5,102,900

$2,212,400

$245,053

$237,771

31

37

98.75

101.08

95

208

208

$46,703,307

$43,432,577

$224,194

$210,246

39

37

98.38

98.30

96

209

208

$26,281,412

$26,175,100

$126,586

$126,760

44

49

96.63

96.90

98

200

172

$42,709,575

$36,541,150

$214,324

$212,449

36

39

97.39

96.97

99

192

225

$66,496,861

$65,454,854

$348,170

$298,913

53

51

96.53

93.36

* Figures from single family homes only. Statistics were run on January 6,2020

32

% of List Price*

DOM*

BAKERSFIELD REALTOR® MAGAZINE

1,800

2,000

November

Ran on 9/17/201

1,600

1,800 1,600

2019

1,400

Price 2019

1,400

Active 2018

1,200

2018

1,200

600

Contingent & Pe Sold Total Volume Median Sales Pri Average DOM *

400

Bakersfield Only

1,000

1,000

800

800 600 400 200

200

0

0

ACTIVE

CONTINGENT

NOVEMBER 2019

PENDING

SOLD

ACTIVE

DECEMBER 2019

20192018

Year over Year %2018 Year over % Year December December 2019 December Change Change

2019 2018

Active 1,412 1,800November November 2019 Contingent Contingent 174

1,412 1,731 2019 1742018 201 1,050 911 1,412 1,731

1,731 -18.4% Active -18.4% 1,323 % Year over % Year Year over Year 2018 December December 2019 201Change -13.4% Contingent Contingent -13.4% 172 Change 911 15.3% Pending 15.3% Pending 976 1,731 -18.4% -18.4% Active Active 1,323

1,323 1,603 2019 1722018 175 976 753 1,323 1,603

All Areas Active

Pending Pending 1,050 Active Active 1,412 Sold 587 608 Sold 587 608 -3.5% Contingent Contingent 174 174 201 201-13.4% Total Volume Closed $154,772,237 $145,894,555 Total Volume Closed $154,772,237 $145,894,555 6.1% Pending Pending 1,050 1,050911 91115.3%

Median Sales Price * $255,000 $232,000 Median Sales Price * $255,000 $232,000 9.9% Sold Sold 587 587 608 608 -3.5% Average DOM * 34 46 -26.1% Average DOM * Volume$154,772,237 34 $154,772,237 46 $145,894,555 Total Volume Total Closed Closed $145,894,555 6.1% Median Sales Median Price * Sales Price $255,000 * $255,000 $232,000 $232,000 9.9% Average DOM Average * DOM *

34

Price Class YTD 2 Active PENDING SOLD Pending Sold Total Volume Year over Year %2018 Year over % Year Median Sales Pric Change Change Average DOM * 1,603 -17.5% -17.5%

CONTINGENT

November November 2019

All Areas Active

34 46

46 -26.1%

% Year over % Year Year over Year 2018 175Change -1.7% -1.7% Change 753 29.6% 29.6% 1,603 -17.5% -17.5%

-3.5% Sold 589 597 597 589 -13.4% Contingent Sold Contingent 172 172 175 175 -1.3% -1.7% 6.1% Total Volume Closed $161,142,337 $140,758,650 Total Volume Closed $161,142,337 $140,758,650 14.5% 15.3% Pending Pending 976 976 753 75329.6%

-1.3% -1.7% 14.5% 29.6% 10.4% -1.3%

9.9% Sold Median Sales Price * $259,500 $235,000 Median Sales Price * $259,500 $235,000 -3.5% Sold 589 589 597 59710.4% -1.3% -26.1% Average DOM * 38 47 -19.1% Average DOM * Volume$161,142,337 38 $161,142,337 47 $140,758,650 6.1% Total Volume Total Closed Closed $140,758,650 14.5%

-19.1% 14.5%

9.9% Median Sales Median Price * Sales Price $259,500 * $259,500 $235,000 $235,000 10.4%

10.4%

-26.1% Average DOM Average * DOM *

Bakersfield Only Bakersfield Only Bakersfield

Class YTD 2

38

38 47

47 -19.1%

-19.1%

Bakersfield

November November 2019

20192018

Bakersfield Bakersfield Only Only

Year over Year %2018 Year over % Year Change Change

December December 2019

Year over Year %2018 Year over % Year Change Change

2019 2018

Sold 495 529 529 -6.4% Sold Sold 472 490 490 -3.7% 495 472 % Year-6.4% over % Year Year over Year % Year-3.7% over % Year Year over Year November November 2019 $132,522,988 20192018 $128,506,305 2018 December December 2019 $129,018,649 2019 2018 $119,037,865 2018 Total Volume Closed 3.1% Total Volume Total Volume Closed 8.4% Total Volume Closed $132,522,988 $128,506,305 3.1% Closed $129,018,649 $119,037,865 8.4% Change Change Change Change Median Sales Price * $260,000 $238,000 9.2% Median Sales Price * $264,990 $242,000 9.5% Median Sales Price * $260,000 $238,000 9.2% Median Sales Price * $264,990 $242,000 9.5% Sold Sold 495 495 529 529 -6.4% -6.4% Sold Sold 472 472 490 490 -3.7% -3.7% Sold

Average DOM * 31 $132,522,988 31 44 $128,506,305 44 -29.3% Average DOM * Volume Total Volume Total Closed $132,522,988 Closed $128,506,305 3.1%

-29.3% Average DOM * 33 $129,018,649 33 47 $119,037,865 47 -29.8% Average DOM * Volume 3.1% Total Volume Total Closed $129,018,649 Closed $119,037,865 8.4%

PriceFamily * SalesHomes Price $260,000 *Only. Statistics $260,000 $238,000 9.2% Median Price * Sales Price $264,990 * $264,990 $242,000 $242,000 9.5% *Median Figures Sales fromMedian Single were run $238,000 on January 6, 2020 9.2% Median Sales Bakersfield uses the following Zip Codes: 93301, 93302, 93303, 93304, 93305, 93306, 93307, 93308, 93309, 93310, 93311, 93312, 93313, 93314.

Average DOM Average *Only Family DOM *Only 31 * Single * Single Family

31 44

44 -29.3%

-29.3% Average DOM Average * DOM *

33

-29.8% 8.4% 9.5%

33 47

47 -29.8%

-29.8%

All 2019

All 2018

2019 QUARTERLY STATS

* Single Family * Single Only Family Only

1st Qtr 2019

New Listings Contingent Pending Sold Total Volume Closed Median Sales Price * Average DOM * Average Sale Price/SqFt *

2nd Qtr 2018

3rd Qtr 2019

3rd Qtr 2018

4th Qtr 2019

4th Qtr 2018

2,858

1st Qtr 2018 3,050

3,233

3,324

3,014

3,105

2,212

2,198

11,317

646

741

585

900

564

751

422

537

2,217

2,929

2,049

2,010

2,333

2,402

2,371

2,135

1,745

1,681

8,498

8,228

1,639

1,712

2,188

2,258

2,286

2,165

1,897

1,903

8,010

8,038

$601,292,734 $556,242,774 $506,435,814 $461,603,669 $2,085,881,190

$1,988,880,743

$409,831,487 $402,301,969

2nd Qtr 2019

$568,321,155 $568,732,331

11,677

$240,000

$228,000

$250,000

$240,000

$254,900

$264,548

$256,000

$235,000

$250,000

45

46

34

39

33

39

34

43

36

$237,900 41

$142.56

$135.22

$147.72

$139.36

$149.93

$141.83

$149.00

$141.60

$147.60

$139.67

* Figures from Single Family Homes Only. Statistics were run on January 6, 2020 Bakersfield uses the following Zip Codes: 93301, 93302, 93303, 93304, 93305, 93306, 93307, 93308, 93309, 93310, 93311, 93312, 93313, 93314.

BAKERSFIELD REALTORÂŽ MAGAZINE

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Real Estate Industry Faces

New Telemarketing Class Actions

A recent slew of class action lawsuits may impact real estate telemarketing SUE JOHNSON, Strategic Alliance Consultant

Real estate brokerage firms should be aware of a recent wave of classaction lawsuits under the Telephone Consumer Protection Act (TCPA), which restricts unwanted telemarketing calls and texts to consumers.

THE TELEPHONE CONSUMER PROTECTION ACT (TCPA) The TCPA prohibits telemarketing calls and text messages to personal phone numbers listed on the National Do Not Call (DNC) Registry without prior express written consent. It also requires a caller to obtain prior express written consent before using an autodialer to send telemarketing calls or texts, even when the number is not on the DNC registry. The law covers any call or text that solicits the purchase of goods or services, including those asking consumers to buy or list a home or property.

These lawsuits can be expensive since the TCPA allows statutory damages of $500-$1,500 for each call or text made in violation of the act.

Plaintiffs often target real estate brokerage firms over individual agents, and a class action lawsuit potentially could cover anyone who has received a call or text from the company over the last four years.

RECENT CLASS ACTION LAWSUITS The following are a few recent lawsuits filed against real estate brokerage firms under the TCPA: n RE/MAX Presidential: A Florida resident sued RE/MAX Presidential in a Miami federal court on August 1, 2019, for using an autodialer to send text messages with phrases such as “Save Save Save Now” and “Is your home still for sale?” without her prior express written consent. She is seeking class-action status for her complaint. Her lawsuit follows three other TCPA lawsuits filed against Florida-based real estate brokerages for unwanted text messages through an automated telephone dialing system, one of which has been stayed and another settled. n Keller Williams Realty: On August 6, 2018, a class action complaint was filed in a California federal district court against Keller Williams Realty, Inc. alleging TCPA violations for contacting the plaintiff on the plaintiff’s home

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BAKERSFIELD REALTOR® MAGAZINE

and cell phones in an attempt to market Keller Williams services, without prior express written consent and after the plaintiff repeatedly asked to be removed from the call list. The lawsuit stretches to anyone who has also received unsolicited calls over the past four years from the company. n Coldwell Banker and NRT: A TCPA classaction lawsuit was filed in a California federal district court on April 3, 2019, against Coldwell Banker Real Estate and NRT, alleging that the plaintiff received unwanted auto-dialed calls from three different Coldwell Banker and NRT real estate professionals on his call phone, which is registered on the Do Not Call Registry. It alleged that the companies instructed the real estate professionals to make the unsolicited cold calls and provided them with telephone numbers and scripts.

As always, you should seek guidance from legal counsel who is experienced in TCPA issues on how you can communicate with customers in compliance with this complex federal law.

Sue Johnson is the former executive director of RESPRO, the Real Estate Services Providers Council Inc. She retired in 2015 and is now a strategic alliance consultant.

REDUCING YOUR RISK Here are some ways to protect your business against the growing threat of these potentially costly lawsuits: 1. Have in place written do-not-call procedures: The procedures should specifically detail how to handle and process DNC requests from consumers and how your company uses both national and company-specific DNC lists.

2. Conduct employee training: You should train your personnel on these written procedures, and there should be a process in place to monitor and enforce compliance.

3. Purchase and maintain the national DNC list: The national DNC list (telemarketing. donotcall.gov) should be purchased, downloaded, and scrubbed against your database every 31 days. If your company uses outside vendors, you should obtain written verification that the vendor purchases, downloads, and regularly scrubs the national DNC list.

4. Purchase and maintain state DNC lists: Many states have elected

to use the national Do Not Call list as their statewide registry, but 12 states (Colorado, Florida, Indiana, Louisiana, Massachusetts, Mississippi, Missouri, Oklahoma, Pennsylvania, Tennessee, Texas, and Wyoming) maintain separate registries. You also should become familiar with any state telemarketing laws that may be more restrictive than federal standards.

5. Maintain an internal DNC list: Maintain a company-specific list of telephone numbers that your sales personnel may not contact, which should be checked every 30 days against the national and state DNC lists. You should promptly record and honor do-not-call requests.

6. Understand what is considered written consent: The Federal Communications Commission has adopted TCPA regulations that defines “prior express written consent” as a written, signed agreement identifying the phone number and notifying the consumer that they are not required to sign as a condition of purchasing any property, goods, or services.

This article reprinted with the permission of Real Trends Inc. Copyright 2020.

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