Greater DAOR 3rd Quarter 2018

Official publication of

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DOWNEY ASSOCIATION OF REALTORS

SSAGE FROM

• Food Drive & City Clean Up

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• Reimagine Conference

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A R IC K S A E N Z

• Greater DAOR Softball Tournament

R DAOR PRES

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• 10 Issues Impacting Real Estate

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• 20% of U.S. Homes Are Under valued

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IN THIS ISSUE:

Greater DAOR Brokers MLS Syndication Meeting

3rd Quarter 2018 Volume 5 Issue 3 PAGE | 1

Alex Ascencio Divisional Manager NMLS#244230 | CA BRE: 01302752

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GREATER DOWNEY ASSOCIATION OF 2018 LEADERSHIP OF GREATER DAOR Executive Directors: Ericka Saenz, President Daniel Nevarez, President-Elect Ruben Sariñana, Vice President Rowena Dominguez, Treasurer Jeanette Baumann, Executive V.P. Directors: Michael Berdelis Maribel Chavez Maria Lilley Remoun Said Luther Sanchez Esther Lee Vicki Spearman Immediate Past President: Mario Acevedo

Greater DAOR Chaplain: Roman Meza C.A.R. State Directors: Ericka Saenz, Mireya Ruiz, Mario Acevedo, Dan Nevarez, and Josue Barrios, Assistant Regional Chair

Greater DAOR Staff

Jeanette Baumann, EVP - evp@DAOR.com

Customer Care Department

Nelly Palma, nellyp@DAOR.com Andrew Garcia, communications@DAOR.com Erica Ochoa, education@DAOR.com Selena Mendoza, customercare@DAOR.com

Membership Department

Julie Sartor, julies@DAOR.com Violet Pantoja, bct@DAOR.com Amanda Camarena, membership@DAOR.com Sussie Gonzalez, cs@DAOR.com

REALTORS

12073 Paramount Blvd - Downey, CA 90242 Phone: (562) 861-0915 Fax: (562) 923-9995 www.DAOR.com Monday - Friday, 9am-5pm Saturday, 9am-1pm 24/7 text support :

Text DAOR (562) 659-6730 Volume 5 - Issue 3

This publication is printed quarterly, delivered in March, June, September & December

Education Center

12069 Paramount Blvd Downey, CA 90242

Page 1 Message from president Ericka Saenz Page 2 Homes are undervalued?

Page 3 Brokers Meeting Page 4 Top Producers 2nd quarter Page 5-6 Membership Luncheon Page 7-8 Election Results Are In Page 8 Code of Ethics Page 9-10 Sunday Funday Page 11 Food Drive Page 12 REimagine Conference Page 13-14 Issues impacting Real Estate Page 15 Affiliates working for you

COMMITEES Budget & Finance Committee Oversight Committee Carrie Uva, Chairperson Jackie Funk, Chairperson Professional Standards Committee Diane Sanchez, Chairperson

Affiliates In Action Committee Luz Lluncor, Chairperson

LCRC Trustees Nubia Aguirre, Chairperson

Scholarship Committee Jeff Worthy, Chairperson

Local Government Relations Andrea Jimenez, Chairperson

Membership/MLS Technology Committee Jose Perez, Chairperson

ON THE COVER See Page 3

REALTORS Advocating for Political Progress Jesus Guerra, Chairperson

REALTOR Community Relations Committee Grievance Committee Mireya Ruiz, Chairperson Tyler Wirth, Chairperson

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A MESSAGE FROM 2018 PRESIDENT ERICKA SAENZ

Hello members! I would like to start off by thanking every single member of our Association for being part of The Greater Downey Association of REALTORS. You have made the right choice!

We have a great team to help all of our members needs. I’m truly proud of our amazing staff… always ready to help.

As we head into the second half of the year, there are some items I would like to make everyone aware of.

C. A. R. has done a great job continuing effort on addressing California’s unprecedented housing supply crisis and eliminating the “moving penalty” that severely restricts the ability of seniors, disabled residents, and victims of natural disasters to relocate. As you may know, C. A. R. collected enough signatures to qualify the Portability initiative – which is now known as PROPOSITION 5 – for the November 2018 General Election Ballot. It is important that we spread the word to EVERYONE. Our Association will have door knocking material to help us REALTORS spread the word and get everyone to VOTE for support on Prop 5. In addition to its efforts to pass Prop 5, C. A. R. will be launching a plan in the incoming weeks to defeat Prop 10, an effort to repeal the landmark Costa Hawkins Rental Housing Act (Rent Control). Any threat to Costa Hawkins is a threat to private property rights, and C.A.R is prepared to vigorously defend the law against Prop 10. Voters will decide the fate of both initiatives in the November 6th election.

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I would like to thank all the members for your voluntary RAF contributions.

The RAF Committee and C.A.R. have been working hard to continue to preserve and protect our ability to do business. What is RAF doing for you? It is fighting Independent Contractor Withholdings, preserving Dual Agency and Mortgage Interest Deduction to name a few. Our Association has surpassed our goal of contributions. Our goal was to reach 20%. I am very happy to report we have reached 26 percent! This is truly a great reason to celebrate! All of those

that have contributed to the RAF fund will be invited to a celebration so we can acknowledge your contribution. You will receive an email with details soon.

As the Association is getting ready to send out our DUES billing in the next months to come, please make sure you contribute to the RAF fund. We need to continue to fight and preserve our rights and our client’s rights to do business.

Our Association has a great opportunity to promote yourself and your business to a local senior by sponsoring them to attend a special event. The “Senior Social” will take place on October 31, 2018 at the Rio Hondo Event Center. Your $20 a person contribution will treat a senior to this event, which will include breakfast, entertainment, and a glass of champagne.

Lastly, I am very excited to see the changes C.A.R. has made to the event that used to be called “EXPO” and is now REimagine! We are very lucky to have it here locally in Long Beach.

REimagine is the biggest and newest California real estate event. REimagine starts with a preconference on Tuesday, Oct 9 thru Thursday, Oct 11. This event will be packed with new experiences, endless networking opportunities, motivational TED Talk style presentations, and powerful takeaways from deep-dive learning sessions. There will be a kickoff party Tuesday night, opportunities to win great prizes, see new emerging products from over 200+ vendors and have first access to all the swag you can fit in your bag. The party is free to attend, but you have to register for REimagine at reimagine.car.org.

Wishing everyone a fabulous and prosperous end of year.

Sincerely,

Ericka Saenz 2018 President

Greater Downey Association of REALTORS

TRENDS IN ENERGY EFFICIENT HOME PRICES

20% OF U.S. HOMES ARE UNDERVALUED

Agents must highlight the energy-efficiency comforts of a new listing to boost the sales price.

By Cynthia Adams, Pearl Certification

Bring up the topic of energy efficiency, and many agents will tell you about the investments they’ve made in their homes for comfort and efficiency.

And yet, the real estate industry hasn’t made the connection between what we enjoy as homeowners (i.e., comfort) and what buyers are looking for (also comfort!)—even though NAR surveys consistently show buyers want and will pay more for comfortable and efficient homes.

ment. But, “Is it new?” is not the same as, “Is it energy efficient?” When agents don’t ask the right questions, they don’t get the right answers, and both the features and their benefits remain hidden from buyers.

A disconnect here’s the problem: In 2018 this disconnect was responsible for sellers leaving about $11 billion in potential home value on the table at closing.

Agents who ignore expensive and sought-after features in their listings may find themselves liable for not marketing the home to achieve full value.

But there is another critical reason to ask the right questions. Between housing supply and buyer demand, a real market opportunity awaits.

Agents who understand where the market is going have the edge over the competition for 20 percent of the listings out there. To capture this opportunity, agents’ next step to business growth is an easy one with a good reward—ask the right questions during the listing appointment. Get educated on energy-efficient technology and learn how to articulate the buyer benefits these technologies enable. Lastly, agents should be sure to use all applicable MLS fields when creating a CMA to inform their pricing strategy and ultimately to market the home.

The U.S. Dept. of Energy tracks sales and market penetration of energy efficient products, as well as the number of ENERGY STAR homes, built. They also track the requirements and implementation of residential energy code. They know a lot about the profile of our homes’ performance for comfort, energy efficiency and indoor air quality.

Features Add to Value National Renewable Energy Lab and ENERGY STAR data show about 20 percent of homes sold have significant features installed which have been proven to add value at the time of sale. Depending on the regional study, the sales premium ranges from a 2 to 10 percent.

Let’s assume a potential 4 percent increase in value is possible for homes with energy-efficient features properly identified and marketed at resale. The average U.S. home price is $250,000, and 4 percent of that is $10,000 of hidden value. If we multiply $10,000 by 20 percent of the 5.5 million homes sold in 2018, it totals $11 billion. Ouch.

Are You Asking the Right Questions? Listing agents typically ask sellers about the newness of specific features, like heating and cooling equip-

Missing home data affects the CMA, home price, a future appraisal—and, ultimately, the seller’s return on investment.

Consumer interest, energy-building code, smarthome automation and other new technologies demand a higher level of professional service from agents.

Cynthia Adams is CEO and Co-Founder of Pearl Home Certification, a real estate tech firm that captures data on high-performing home features to increase home value. Pearl is a NAR REach Technology Accelerator company.

This article is reprinted with the permission of Real Trends Inc. Copyright 2018

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2018 BROKER MEETING

On August 23, 2018, some of our Greater DAOR Brokers met with Ericka Saenz for a great informational lunch! Our Brokers were educated with an MLS industry update and syndication of listings. Also, the Greater DAOR Government Affairs Director gave a quick legislative update on the Real Estate industry. Yes on S - No on 10.

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Second Quarter Top Producers

Congratulations Names From Left to Right Nahed Benyamein, Coldwell Banker Allstars - Jose Leon, Intero Real Estate Services - Mario Mariscal, Excellence RE Real Estate - Esmeralda Rivera, Excellence RE Real Estate - Carmelo Mauro, Realty Executives Com. & Res.

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MEMBERSHIP LUNCHEON JEFF LOBB WITH GUEST SPEAKER

On July 18, 2018, special guest Jeff lobb, CEO of Sparktank Media, gave a great speach on social media and marketing. Greater DAOR also announced it’s 2nd Quarter Top Producers during this event. Congratulations to all of our 2nd Quarter Top Producers, we look foward to seeing all of our members succeed next quarter.

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Join us for our next luncheon with Assessor Jeffrey Prang on Wednesday, October 17, 2018.

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ELECTION RESULTS ARE IN! 2019 EXECUTIVE COMMITTEE

PRESIDENT

DANIEL NEVAREZ

PRESIDENT - ELECT RUBEN SARIÑANA

VICE PRESIDENT

MICHAEL BERDELIS

TREASURER

MARIA LILLEY

2019 DIRECTORS

DIRECTOR 2019

DIRECTOR 2019 REMOUN SAID

LUTHER SANCHEZ

DIRECTOR 2019

DIRECTOR 2019

DIRECTOR 2019-2020

DIRECTOR 2019-2020

DIRECTOR 2019-2020

IMMEDIATE PAST PRESIDENT

MARIBEL CHAVEZ

JOSE PEREZ

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CARRIE UVA

JESUS GUERRA

ESTHER LEE

ERICKA SAENZ

Code of ETHICS Do you have to take the Code of Ethics Course?

June 27th was #NationalCodeofEthicsDay we had 240 members take the course that day and all were “cleared” from the requirement.

Take this simple questionnaire to see if you need to take the class

Regardless of your age filing with the DRE, or honorary status with the C.A.R. or N.A.R., all REALTORS must complete a Code of Ethics Course before December 31, 2018 to continue being a REALTOR in 2019.

———————————————— Every REALTOR in the Nation Must take an Ethics Course every 2 years to remain a REALTOR. The biennial periods began and ends as follows:

- Jan 1, 2017 - Dec 31, 2018

- Jan 1, 2019 - Dec 31, 2020

- Jan 1, 2021 - Dec 31, 2022 & so on.

If your DRE license was renewed in 2017 or 2018 you do not have to take an extra Ethics Course because it was already taken in your 45 Hour renewal.

If your DRE license needs to be renewed in 2019 or 2020 then you do need to take an extra Ethics Course before December 31, 2018.

Your Greater DAOR staff will be “clearing” you from the N.A.R. requirement once you: 1) renew your license 2) take a new member orientation, or 3) attend an extra Ethics Course.

Does your license expire in 2017 or 2018? If you answered yes, you do not have to take this extra exthics class, we will “clear” your NAR requirement with the date you renewed your license.

2) Does your license expire in 2019 or 2020? If you answered yes, then you do have to take an extra Ethics course before December 10, 2018. Here is how to take the class.

Easiest way Wednesday, September 12th 1:00pm-4:30pm Saturday, September 15th 9:15am-12:45pm Wednesday, September 19th 1:00pm-4:30pm Wednesday, September 26th 9:00am-12:30pm at Greater DAOR Education Center Or On your own time, take a different online quiz by December 10, 2018 (must pass with 70%) find the quiz here: https://learninglibrary.com/COE/A/HOME?affiliateId=10868&affiliateId=10868

THANK YOU TO OUR MOST RECENT

REALTOR ACTION FUND

CONTRIBUTORS

Call us if you have any Questions? (562)-861-0915

Alberto Callejas $20 Guillermo DeLaRosa $20 Mario Espinoza $20 Edgar Estrada $20 Mark Galaviz $20 Michael Girgis $20 Matilda Jimenez $20 Maria Mancia $49 Vaiuli Mataitusi $20 America Quintanilla $20 Connie Santoyo $20 Joaquin Torres Jr $20 Carolina Turcios $49 Rosalinda Vasquez $20

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SUNDAY FUNDAY

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On August 19, 2018, REALTORS and Affiliates gathered at San Gabriel Park for a Softball Tournament and Family Picnic. Congratulations to our first place winners, Century 21 A Better Service! Thank you to everyone who came out to support this event, we look foward to seeing you at our next event.

FIRST PLACE WINNERS CENTURY 21 A BETTER SERVICE

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FOOD

DRIVE

Doze n food s of REA L t Drive o the ne TORS cam edy! ! We e tog Th hope e to se ank you ther in P to al e mo i re RE l the R co Rivera ALTOR E , S gat ALTORS w Norwalk ,a ho p her n ext y articip nd Down ear. e It’s a ated in th y to help lway s gre is year’s clean up R at to o see o EALTOR c ur comm ur RE ommu unite ALTOR n s S car ity clean and don at up e for the c and Foo e omm d unity .

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& CIT Y CLE A N UP

PRE-CONFERANCE • OCT. 9, 2018 REIMAGINE! • OCT. 10-11, 2018

REIMAGINE! CALIFORNIA REALTORS® CONFERENCE

Flip the switch California REALTORS®. Immerse yourself in experiences, be bold, and shake things up.

California Association of REALTORS® (C.A.R.) | June 20, 2018

PRE-CONFERENCE: OCTOBER 9 • REIMAGINE! OCTOBER 10 – 11 • LONG BEACH, CA Hit the schmooze button, get your social on and prepare to mix it up in Long Beach this October! Leave what you thought you knew about the annual C.A.R. conference and trade show at the door.

REimagine! is an all new, all about connections and interactions California REALTOR® event. We’re bringing together the state’s real estate pros, shaking up how you interact with each other, how you learn, and even how you play. Turn it upside down. We did. Now it’s your turn!

You can register online for REimagine!—beginning on June 20—by visiting http://reimagine.car.org or calling toll-free (800) 242-2732.

The REimagine! event takes place Wednesday, October 10th and Thursday, October 11th. It is free for all members to attend. Start REimagine! off early by heading down Tuesday evening at 5 PM for The Party, also free for all attendees. And if you are looking for some deep dive education, come Pre-Conference with us on Tuesday, October 9.

To access the online registration page, follow the simple instructions below: • Visit http://reimagine.car.org • Click on Registration in the header • Have your NRDS member ID number ready

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10 ISSUES IMPACTING

REAL ESTATE

The Counselors of Real Estate® (CRE®) professional association announced its annual Top Ten Issues Affecting Real EstateTM List for 2018-2019. Today’s issues will impact your decisions over the next ten years. Here are the top 10: Current Issues 1. Interest Rates & The Economy 2. Politics & Political Uncertainty 3. Housing Affordability 4. Generational Change/Demographics 5. E-commerce & Logistics Longer-Term Issues 1. Infrastructure 2. Disruptive Technology 3. Natural Disasters & Climate Change 4. Immigration 5. Energy & Water 1. Interest Rates and The Economy. As interest rates rise, the commercial and residential real estate markets are already experiencing changes—decreasing demand for commercial property, and higher home mortgage rates. Rate increases also limit value appreciation for commercial real estate and make housing less affordable. Lack of wage growth for all but the wealthiest population segment is dampening housing demand and limiting consumer spending that the economy needs for growth. The Counselors cited a 2017 Brookings Institution study which showed real wages for most of the middle-class have only increased 3.5 percent since 1979, com-

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pared to a 24 percent rise for the top income segment.

2. Infrastructure. The lack of serious effort by the U.S. to address its condition and much-needed revitalization leads the list of broader and emerging issues affecting real estate.

Roads, bridges, airports, water and sewer lines, electricity, even public transit. All are necessary to sustain and expand cities and communities and are rapidly deteriorating. U.S. infrastructure was given a D+ rating in the American Society of Civil Engineers 2017 Infrastructure Report Card. As much as $4.5 trillion is estimated by that organization to improve critical infrastructure by 2025.

3. Politics and Political Uncertainty was second on The Counselors’ Current Issues list. Tax reform and policies enacted to change the balance of trade with other countries impacts jobs, incomes, and property of all types, commercial and residential. Congressional action to relax certain bank lending and asset management regulations was also among developing trends which may improve access to capital.

4. Housing Affordability across nearly every income bracket with the exception of the most-wealthy households. Affordability is fueled by not only low wages and rising mortgage rates but also underproduction of housing for almost two decades.

5. Generational Change and Demographics. For the first time in more than half a century, there are four distinct groups exerting influence on both commercial and residential real es-

tate, such as office design, student and elder housing, amenities and locational preference. Aging Baby Boomers, a similar number of Millennials, and the smaller groups on either side of Millennials (Generation X, now mostly middle-aged and Generation Y, including students and those in their early 20s).

6. E-commerce, and Logistics that support warehousing and delivery of goods all contribute to retail sector volatility.

Additional Longer-Term Issue 7. Following closely behind Infrastructure on the 2018-2019 list of Longer-Term Issues is Disruptive Technology. Examples include advanced robotic manufacturing and warehousing; driverless cars and trucks; the wide availability and utilization of personal and transactional data (which enhances all kinds of business decisions), smart building technology that enables efficiency; global connectivity; automated business processes; and information protection through cybersecurity. Nearly every aspect of real estate is undergoing dramatic change as these types of technology are adopted.

8. Natural Disasters and Climate Change, which result in property and environmental damage from events such as severe storms, wildfires, floods, earthquakes, volcanic activity, and rising sea levels.

9. Immigration which, if reduced by law, may have a negative impact on new housing starts and home purchases as well as possibly worsen the current skilled labor shortage in the United States.

10. Energy and Water, natural resources essential to property and quality of life, yet threatened by not only environmental damage (human-made and climatological) but entangling state and local regulations which complicate development and

lack the national standardization regulations would provide.

On the Watch List are four additional issues—Construction Costs, Urbanization/Suburbanization, Tax Cuts and Societal Leadership • Rising construction costs make some development unfeasible and increase prices on commercial and residential property alike.

• Cities continue to attract population and provide opportunities for Millennials, seniors, and other demographic segments as well as property investors, corporations and small businesses. Suburbs are adapting with city-like development and amenities.

• Tax cuts positively impact commercial properties, although the effect of this legislation is still developing. This legislation has the potential for corporations large and small to create jobs. Individual tax cuts may provide a slight increase in disposable income and make home repair or remodeling more attractive; on the other side of the equation is limits on mortgage interest deductibility for homeowners.

• A new surge of social activism among younger Americans, celebrities and a significant portion of the American public surrounding the #MeToo women’s movement, gun control, and diversity has potential—if sustained—to fuel business and social reform on many levels. The real estate industry has an opportunity to take a leadership position to hire, train and promote women and minorities; build responsibly and sustainably; create affordable housing, and enhance protections for properties, tenants and residents.

This article is reprinted with the permission of Real Trends Inc. Copyright 2018

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