Salt Lake Realtor – November 2017

Salt Lake

REALTOR

®

slrealtors.com

Maga zine November 2017

First SL Realtors® to Invest $50K in RPAC p. 14

Tax Bill Threatens Homeowners p. 16

7 Real Estate Myths p. 24

THE BEST OF CITY & MOUNTAIN LIVING FOR THEM $500 CITY CREEK GIFT CARD FOR YOU Start showing your clients the magic of City Creek Living today with relaxing fountains, canyon-like walkways and doorstep access to world-class shopping. Living here is perfect for carefree lock-and-leave travel, no yard work, no snow shoveling and less driving.

Receive a $500 City Creek gift card as our thanks upon closing when your client goes under contract by December 30, 2017.

Tour designer homes by appoinment at 801.240.8600

CityCreekLiving.com

THE VIEW IS WORTH THE

CLIMB

Obtaining your dream home is worth the effort. Let us meet you at the summit, then guide you along the trail that leads to the right home.

For your mortgage or refinance needs, call us today.

844.542.LOAN (5626) This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice.

SecurityNational Mortgage Company NMLS# 3116. SNMC0717MISC1377

Turning Houses into Homes™ SNMC.COM

Table of Contents Features 10 Salt Lake Realtor® Builds Schools

in Mexico to Help Students Reach for New Lives Frederik Heller

Winning over more clients requires rejecting old routines. p. 20

14 Why These Realtors® are Investing More in RPAC

Dave Anderton

16 House Tax Bill Means Tax Hike on Homeowners

National Association of Realtors® 20 Sales Skills You Need to Rise Above Status Quo

Melissa Dittmann Tracey 22 Delinquencies and Foreclosures on the Decline

24 Seven Real Estate Ideas That Deserve to Die

Meg White

Columns 7 The Brick Walls in Our Lives Troy Peterson – President’s Message

Departments 8 Happenings 8 In the News 26 Housing Watch

28 Realtor® Connections 28 On the Move

On the Cover: Photo: Kent Shelton Photo left: © Andy Dean / Adobe Stock

This Magazine is Self-Supporting Salt Lake Realtor® Magazine is self-supporting.

The advertisers in this magazine pay for all production and distribution costs. Help support this magazine by advertising. For advertising rates, please contact Mills Publishing at 801.467.9419.

The paper used in Salt Lake Realtor® Magazine comes from trees in managed timberlands.

These trees are planted and grown specifically to make paper and do not come from parks or wilderness areas. In addition, a portion of this magazine is printed from recycled paper.

Salt Lake

REALTOR slrealtors.com

®

Maga zine

November 2017 volume 77 number 11 The Salt Lake REALTOR® (ISSN 2153 2141) is published monthly by Mills Publishing, located at 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106. Periodicals Postage Paid at Salt Lake City, UT. POSTMASTER: Send address changes to: The Salt Lake REALTOR,® 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106-4618.

WE KEEP THINGS SIMPLE. • Low Rates • Great Service • Hassle-free loan process

Visit our website to see why we are simply the best! momentumloans.com

MOMENTUMLOANS NMLS#1606597

Announcing our new 3-2-5 Program!

Guaranteed Rate’s 3-2-5 program delivers a head start on homeownership.

Qualified borrowers who contribute a 3% down payment can receive a grant for up to 2% of their purchase price—no need to repay in the event of a move or refinance.

Your clients can use this grant to: • Apply to closing costs for more money in their pocket.

• Buy down their interest rate for lower monthly payments.

Qualifications: Conventional loans up to $424,100 are eligible.

Minimum 680 FICO score and maximum 45% debt-to-income required.

Homeownership counseling is required if all borrower(s) are first-time homebuyers.

• Reach 20% faster–eliminate PMI.

Find out if your clients qualify for our 3-2-5 program—contact me today.

Cindee Stone

O: (801) 890-7665

VP of Mortgage Lending

C: (801) 381-3863 Cindee.Stone@rate.com Rate.com/cindeestone

6900 South 900 East, Suite 150 Midvale, UT 84047

Cindee Stone NMLS ID: 273280; UT - 5490273 - 7495184 • NMLS ID #2611 (Nationwide Mortgage Licensing System www.nmlsconsumeraccess.org) • Utah - Licensed in UT: Utah-DRE Mortgage Entity License #7495184 & Utah-DFI Residential First Mortgage Notification – Utah Department of Financial Institutions *It is important for you to know that the smaller your down payment percentage, typically, the higher your interest rate. Down payment assistance cannot exceed 2% of the purchase price. Maximum grant allowance is $10,000.

Minimum credit score and debt-to-income (DTI) requirements, annual income limits and purchase price limits apply. Not all applicants will be approved. Receipt of application does not represent an approval for financing or interest rate guarantee.

Example: Sample monthly Principal and Interest (P&I) payment of $1,117 is based on a purchase price of $250,000, down payment of 5% (3% provided by borrower and 2% provided by Guaranteed Rate), 30 year fixed rate mortgage (360 monthly payments) and rate of 3.875%/4.538% APR (annual percentage rate). Advertised rates and APR effective as of 09/15/17 and are subject to change. Above scenario assumes a first lien position, 740 FICO score, 55-day rate lock, based on a single family home in Illinois and are subject to change without notice. Subject to underwriting guidelines and applicant’s credit profile. Sample payment does not include taxes, insurance or assessments.

Private Mortgage Insurance (PMI) will be required for all FHA loans as well as conventional loans where the LTV is greater than 80%. Actual payment obligation will be greater. Not all applicants will be approved. Applicant’s interest rate will depend upon the specific characteristics of applicant’s loan transaction, credit profile and other criteria. Contact Guaranteed Rate for more information and up to date rates.

Salt Lake

REALTOR

® ®

Maga zine

slrealtors.com slrealtors.com

President Troy Peterson Equity Real Estate

Directors

First Vice President Adam Kirkham Summit Sotheby’s International Second Vice President Scott Robbins Coldwell Banker Residential Treasurer J. Scott Colemere Colemere Realty Associates Past President Cheryl Acker Utah Key Real Estate CEO Curtis A. Bullock

M. Brock Andersen Berkshire Hathaway Kimberly Farber-Bowen IMPOWER Real Estate Brian Gottfredson Coldwell Banker Residential Alicia Holdaway Equity Real Estate Mike Morgan Realtypath Mary Olsen Utah Key Real Estate Jodie Osofsky Utah Key Real Estate Steve A. Perry Realtypath Michael Rowe Berkshire Hathaway Randal Smith Equity Real Estate Matthew Ulrich Ulrich Realtors®

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

Managing Editor Dave Anderton Publisher Mills Publishing, Inc. www.millspub.com President Dan Miller Art Director Jackie Medina Graphic Design Ken Magleby Patrick Witmer Sales Staff Paula Bell Karen Malan Paul Nicholas

Office Administrator Cynthia Bell Snow Office Assistant Jessica Snow Administrative Assistant KellieAnn Halvorsen

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

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

Permission will be granted in most cases, upon written request, to reprint or reproduce articles and photographs in this issue, provided proper credit is given to The Salt Lake REALTOR®, as well as to any writers and photographers whose names appear with the articles and photographs.

While unsolicited original manuscripts and photographs related to the real estate profession are welcome, no payment is made for their use in the publication.

The Brick Walls in Our Lives

W

hy do so many real estate agents fail? According to a recent story by Inman News, a lot of it has do with a lack of commitment, poor schedules, and financial mismanagement. In fact, these three metrics can gauge the success of nearly any endeavor.

“Show me your routines, and I can predict your future,” the Inman article stated. “If your schedule isn’t aligned with your goals, you’ll end up wherever your schedule takes you instead of achieving your goals. The role of discipline in your success cannot be underestimated. Schedule everything and find a way to hold yourself accountable.”

When I think of commitment and success, I’m inspired by the remarkable life of Randy Pausch, the Carnegie Mellon professor whose “last lecture” inspired millions of people. As you might recall, Professor Pausch participated in a lecture series that asked, “If you knew you were going to die and had one last lecture what would you say to your students?”

After accepting the challenge, Dr. Pausch found out he had pancreatic cancer and only months to live.

Instead of a lecture filled with pity and despair, Dr. Pausch talked about the beauties of life and how to live. He focused on childhood dreams and how to achieve them. He talked about the obstacles life throws at each of us. “The brick walls that are in our way are there for reason,” he said. “They are not there to keep us out. They are there to give us a way to show how much we want it.”

Dr. Pausch recalled one especially challenging time in his life. “When I was going through graduate school and taking really hard examinations I was home pretty much complaining and whining about how hard these Ph.D. tests were,” he said. “My mom just patted my arm and said, ‘We know how you feel. Just remember that when your father was your age he was fighting the Germans in World War II.’”

How much do you want to be a successful? Do you just have a passing interest in real estate or are you committed to the profession? How well do you respond to your clients? How do you treat other agents? Imagine if your local gas station was only open one day a week and only one hour that day. Would you still go there? It’s hard to attract clients when you are unavailable or only available part time.

Dr. Pausch’s words had a big effect on many. “Some said he inspired them to quit feeling sorry for themselves,” The New York Times said, “or to move on from divorces, or to pay more attention to their families.”

For me, finding the wonder and fun in life and working hard to achieve your goals are the big takeaways. Need a change? Start today by being the person you were meant to become.

Troy Peterson 2017 President

Views and opinions expressed in the editorial and advertising content of the The Salt Lake REALTOR® are not necessarily endorsed by the Salt Lake Board of REALTORS®. However, advertisers do make publication of this magazine possible, so consideration of products and services listed is greatly appreciated.

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

October 2005

November 2017 | Salt Lake Realtor ® | 7

Happenings

In the News Hottest Hipster Markets

Pictured: Darlene Dipo, left, with Babs De Lay, winner of the 2015 Good Neighbor Award.

Best of 2017 Awards Approaching

Are you someone who has made exceptional contributions to his or her community during the 2017 year? Please apply for the Salt Lake Board of Realtors’® Good Neighbor award, which honors one Realtor® or affiliate member who has rendered remarkable service. This award is one of 13 awards that will be presented at the annual Best of 2017 Realtor® Awards luncheon this February. To view a list of all awards and their requirements visit: www.slrealtors.com/awards. Nominations and award applications open in January 2018.

Pictured: Curtis Bullock, CEO of the Salt Lake Board of Realtors®, talks about changes to the new REPC.

Education Conference Draws Big Response

More than 350 people attended last month’s Education Conference at the Realtor® Campus. The three-day event offered 14 different continuing education classes on topics ranging from taxes and the new REPC to copyright laws and disclosure requirements.

8 | Salt Lake Realtor ® | November 2017

Can’t live without your artisanal coffee, avocado toast or an indie record store? Columbus, Ohio, is the place for you, according to realtor.com®’s collaboration with Yelp. This realtor.com® Yelp Hottest Hipster Markets in America list identifies the most in-demand housing markets in the U.S. with the highest concentrations of “hipster” businesses for home buyers looking to embrace indie culture.

Salt Lake City made No. 35 on the list of Hottest Hipster Markets.

Although their opinions about their music and fashion may be out of the norm, when it comes to real estate — hipsters have a knack for getting it right. Based on our research, there’s clear evidence that “hipster” popularity – in markets like Austin, Texas – has led to mainstream interest and higher home prices over time. Whether it’s the farm-to-table restaurants or urban renewal projects that were already underway, a concentration of hipsters seems to be an indicator of a hot housing market.

From a housing perspective, all the markets on the realtor.com® Yelp Hottest Hipster Markets in America list have strong market dynamics, showing healthy buyer demand with homes selling in an average of 30 days. Each market also has low or average unemployment rates ranging from 2.7 percent to 4.6 percent, compared to 4.4 nationally. With all the hipster businesses in town it comes as no surprise that these markets are also highly sought after by millennials. Overall, older millennialsages 25 to 34- in the top ten markets make up an average of 22 percent of the population, higher than the national population share of older millennials of 13 percent.

Collaboration is not an option. It’s a promise.

Collaboration not an option.

When we work with Homebuyers, we buildishomes around their It’s livesa–promise. not the When we work with Homebuyers, we build homes around their livesWeekley – not the other way around. The same is true when we work with you. At David other way around.

The same is true when we work with you.

At David Homes, we work hand-in-hand with you and your Team to ensure thatWeekley your Homes, wetowork hand-in-handiswith you andand your Team as to possible ensure that your – and Clients’ path homeownership as seamless fulfilling – and Clients’ path to homeownership is as seamless and fulfilling as possible so is your experience in helping them get there. That’s The Weekley Way. so is your experience in helping them get there. That’s The Weekley Way. At David Weekley Homes, we love taking care of you and your Clients by: At David Weekley Homes, we love taking care of you and your Clients by: • Encouraging you to register your Clients with us – we promise it • Encouraging you to register your Clients with us – we promise it will be easy will be easy • Paying you complete commissions based on a home’s full sales price, • youbase complete notPaying just the price commissions based on a home’s full sales price, VISIT US price IN ALL OUR FINE COMMUNITIES not just the base • Making you look good byALL guiding yourCOMMUNITIES Clients through the building VISIT US IN OUR FINE • Making look good by guiding your Clients through the building process andyou beyond process and beyond

S A LT L A K E C I T Y S A LT L A K E C I T Y

Homes from the $280s to $560s+ Homes the $280s to $560s+ in thefrom Salt Lake City area in the Salt Lake City area 800-240-7487 800-240-7487

215 215

Great Great Salt Lake Salt Lake 80

80

SLC International SLC International AirportAirport Highway LincolnLincoln Highway

80

E. 400E.S.400 S. 71

201 201

S. 700 E.

S. 700 E.

71

E. 1700 E. 1700 S. S.

80

aday Town Center Court

the $590s, 800-240-7487

Holladay Town Center Court or Appointment

Belt Route

80

Belt Route

80

TheBench East Bench The East

Holladay Holladay 1

Bangerter Highway

Bangerter Highway

untain View Corridor Mo untain View Corridor Mo

Union UBnoiuolnevBaorudlev ard Fo r t Fo r t

t

t

2 2

15

15

W. 10400 W. 10400 S. S.

E. 10600 E. 10600 S. S.

151 151

Jordan SouthSouth Jordan 68

1 South Abbot Way

Bungalows at Highland Park Enclave at Highland Park 3The S. Holly Springs Road The Bungalows Jordan UT 84009at Highland Park 11423 S. Holly Springs Road

E. 5600 E. 5600 S. S. Belt RoBelt Rout ute e

215 215

W. 11400 W. 11400 S. S.

68 175 175

71

Daybreak Jordan UT 84095

2 S. Kestrel Rise Road The Villas at Daybreak Jordan UT 84009 10762 S. Kestrel Rise Road 8102564 South Jordan the $280s UT 84009 8018102564 From theat $280s Enclave Highland Park

1

Jordan West West Jordan

4 4

break

10451 South Abbot Way 810-8574 South Jordan UT 84095 age Courts 801-810-8574 the $280s Cottage Courts kside Village 60’ From$370s the $280s the Creekside Village 60’ From the $370s Villas at Daybreak

215 215

W. 5400 W. 5400 S. S.

r Run Preserve

galowsDeer Run801-810-2620 Preserve the $385s, 2BungalowsS Deer Arch Lane From $385s, 801-810-2620 er, UT the 84020 14122 S Deer Arch Lane ages Draper, UT 800-240-7487 84020 the $500s, Cottages es From$570s, the $500s, 800-240-7487 the 801-810-2575 E.Estates Deer Heights Court From $570s, 801-810-2575 er, UT the 84020 986 E. Deer Heights Court Draper, UT 84020

80

h ac Wa s h ac Wa s

the $470s, 800-240-7487 Canyon Centre Court – Close out! or Appointment From the $470s, 800-240-7487 Call for Appointment

80 80

15 266 266

15

From the $590s, 800-240-7487 Call for Appointment

yon Centre Court – Close out!

1. Holladay Town Center CourtTown 1.

Holladay From the $560s Center Court

Salt Lake Salt Lake City City

80

River Parkway JordonJordon River Parkway 154 154

W. 11400 W. 11400 S. S.

71

15

4. Daybreak Cottage Courts 4.

Daybreak

5. Holbrook Farms TheHolbrook Estates 5.

Farms

From the $280s Cottage Courts From the $280s60' Creekside Village From the $380s Creekside Village 60' 801-810-2574 From the $380s 2. Canyon Centre Court Villas at Daybreak Close Out! Centre Court The801-810-2574 2.

Canyon From the $290s From the $470s The Villas at Daybreak Close Out! 801-810-2564 800-240-7487 From the $290s From the $470s 800-240-7487 The801-810-2564 Enclave at 3. Deer Run Preserve Highland Park at The Enclave Bungalows 3.

Deer Run Preserve From the $290s Highland Park From the $390s Bungalows 801-810-2624 From the $290s Cottages From the $390s The801-810-2624 Bungalows at From the $500s Cottages Highland Park The Bungalows at Estate From the $500s From the $360s Highland Park From the $550s Estate 801-810-2624 From the $360s 800-240-7487 From the $550s 801-810-2624 800-240-7487 CallFrom for an theappointment $560s 800-240-7487 Call for an appointment 800-240-7487

From $440s Thethe Estates TheFrom Villasthe $440s From $295s Thethe Villas 800-240-7487 From the $295s 800-240-7487

E. 12300 E. 12300 S. S. 15

ve ive Dri d Dr an d lan ghl gh Hi Hi

Bangerter Highway Bangerter Highway

3 3

5. Holbrook Farms

for more information CallCall LisaLisa for more information 800-240-7487 800-240-7487

NOW OPEN! 3376 W. 2450 North Lehi, UT 84043 8002407487

5 5 85

W. N. 2100 N. W. 2100

85

See Seea aDavid DavidWeekley WeekleyHomes HomesSales SalesConsultant Consultantfor fordetails. details.Prices, Prices,plans, plans,dimensions, dimensions,features, features,specifications, specifications,materials, materials,and andavailability availability ofofhomes homesororcommunities communitiesare aresubject subjecttotochange changewithout withoutnotice noticeororobligation. obligation.Illustrations Illustrationsare areartist’s artist’sdepictions depictionsonly onlyand andmay maydiffer differ from completed improvements.

Copyright © 2017 David Weekley Homes All Rights Reserved.

Salt Lake City, UT (SLCA90300) from completed improvements. Copyright © 2017 David Weekley Homes - All Rights Reserved. Salt Lake City, UT (SLCA90300)

Image licensed by Ingram Image

Salt Lake Realtor® Builds Schools in Mexico to Help Students Reach for New Lives Through schools and scholarships, Salt Lake Realtor® Bryson Garbett offers education, hope, and a better future to impoverished kids.

By Frederik Heller

A

long the border with Guatemala, about 500 miles from Cancún and the popular tourist destinations of the Yucatán Peninsula, lies Mexico’s southernmost state of Chiapas. Known for its cloud forests and ancient Mayan ruins, the region is home to the largest indigenous population in Mexico, with twelve federally recognized ethnicities represented. It is also Mexico’s poorest state, where nearly 75 percent of the population lives below the poverty level.

It’s where Foundation Escalera focuses most of its efforts. Created by Realtor® Bryson Garbett, the foundation builds schools and, through scholarships and other tools, provides educational opportunities to children who would otherwise face a very limited future.

“They’re in indigenous villages and they

10 | Salt Lake Realtor ® | November 2017

don’t speak Spanish well, and they need Spanish to have a hope of getting a formal job,” explained Ann Garbett, Bryson’s daughter and chief financial officer of Foundation Escalera. “Otherwise their destiny is either subsistence farming or migration—to the resort towns on the coast, the factories of northern Mexico, or across the border.”

The options are even more limited for young women, who generally are married and starting families by age 15. “Without school, they have no opportunities; their fate is fixed,” said Ann. “Life is really hard when you’re that poor.”

A Lesson Learned Like many in real estate in the early 1990s, Bryson Garbett, a home builder in Salt Lake City, struggled through the recession of that time

period. “Garbett Homes was plodding along and just surviving,” he recalled. “Usually we could make the house payments.”

After pulling the business through those uncertain years, Garbett and his family decided to celebrate in 1998 with a trip during Christmas break. As a way to share their good fortune with others, they opted to join a service project in Mexico. The Garbetts’ experiences during that trip made a profound impact on their lives, and each Christmas they would return to Mexico to help the people there in any way they could.

Zeroing in on effective ways to make a real difference took some trial and error. During one visit Garbett loaned $5,000 to a group of men who wanted to start a brick-making business. The following year, the same men returned every cent of what he had loaned them, confessing that they didn’t even know where to begin. “It taught us that you can’t just give somebody money and it will make their lives better,” said Garbett. “It has to be more than that.”

Education Leads to Opportunity The experience also drove home the realization that education was the key that would

allow people to change and improve their lives.

The dropout rate from middle school to high school is as high as 60 percent in some areas of Chiapas, said Garbett. Reducing that dropout rate is the foundation’s primary focus. Among an average Chiapas elementary school class of 30 students, only seven will go on to finish high school and many won’t even complete middle school, said Molly Fisher, Foundation Escalera’s executive director.

Since there are few high schools in the region, which has the highest illiteracy rate in Mexico, the foundation offers scholarships for students to attend public high schools as far away as Mexico City. In Mexico, students must first pass an entrance exam in order to attend high school; for many families in Chiapas, the cost of the exam is prohibitively expensive. The scholarships remove that barrier by covering the cost of the entrance exam and subsequent enrollment fees. A system of mentors, tutors, and other resources ensures the students’ success, keeping them in school until they graduate.

In Chiapas, the foundation piloted a program to assemble schools in areas that either had inadequate school facilities or no middle schools

COME SEE WHY

IT’S BETTER HERE $500 OFF CLOSING COSTS OR

FREE

APPRAISAL NMLS #654272

801-481-8840 UcreditU.com

CONSTRUCTION • FHA/VA • CONVENTIONAL • CONSTRUCTION • FHA/VA • CONVENTIONAL • CO

November 2017 | Salt Lake Realtor ® | 11

of Foundation Escalera to home buyers and renters.

This past June, Garbett Homes participated in the Utah Valley Parade of Homes with its Dileri House, a home built and designed in honor of Dileri, a girl in Chiapas who wants to attend school so she can fulfill her dream becoming a doctor. The company recently built a subdivision of 30 homes, from which a percentage of each sale was used to build a school in Chiapas.

“Sometimes

people will say,

‘Well, how can you afford to do that?’, and I always think, I’m not sure I can afford not to do it.”—Bryson Garbett at all. Using prefabricated construction methods learned through the work of Garbett Homes, they were able to speed up the process and build more schools in more areas. “We built a school, and another school, and another, and instead of taking six months to build, we got it down to six weeks,” said Garbett.

With assistance from the state government, the foundation has helped build 177 schools in Chiapas, serving more than 29,000 students. Add the scholarships to that number and Foundation Escalera has been able to make a significant impact on the lives of nearly 100,000 students in Mexico. Where just a few years ago middle schools in Chiapas would have had classes of 10 students or fewer, Fisher said, classrooms now are often at capacity.

Building Connections

Building 300 to 400 housing units per year up and down the Wasatch Front area of Utah, Garbett Homes makes its connection with Foundation Escalera an integral part of its business. Many of the company’s trade partners participate in its “1% for Schools” program: When they donate 0.5 percent of what they make doing business with Garbett Homes to the foundation, Garbett Homes matches those funds with another 0.5 percent.

The company also promotes the mission

12 | Salt Lake Realtor ® | November 2017

More Like an Investment

For Garbett, devoting his own time and energy to Foundation Escalera and other charitable activities—he is known as a passionate advocate for the homeless and patron of the arts in Salt Lake City—is simply part of who he is.

“Sometimes people will say, ‘Well, how can you afford to do that?’, and I always think, I’m not sure I can afford not to do it,” he said. “Seeing the needs that are there in Mexico—I can’t just walk away from that.”

In addition to serving on the foundation’s board of directors and raising $250,000 per year, he and his wife travel to Chiapas every other month to help build schools and work with students.

Since the area lacks hotels and other facilities, they often stay with families in wood huts or sleep on the ground at the school construction site, giving them a chance to get to know the people and understand their perspectives.

“He’s always there and I can always seek him out for advice,” Fisher said of Garbett. “He doesn’t come and tell you what to do. He gets out there and takes the time to listen and understand the culture and the problems.”

Asked how others might follow his example, Garbett answers with an imperative: “Do it! It hasn’t always been easy and we haven’t always done the right thing, but we just started. The time that is spent in helping is more like an investment.

The time pays dividends that we’re often not even aware of in our businesses. There are lots of opportunities, not just in Mexico but in our own backyards.”

Contact Garbett at bryson@garbetthomes.com and learn more at www.escalera.org. Reprinted from Realtor® Magazine Online, August 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

We grow our business by helping you grow yours

www. in sidea pl us . c o m Become a real-estate community celebrity

339 West 13490 South, Draper, UT 84020 | 801-233-3700 Corp NMLS #3113 | Corp Lic: UT #5491140-MLCO | MAC817-1448272

Why These Realtors® are Investing More in RPAC Four Salt Lake Realtors® have reached the Hall of Fame $50,000 tier.

By Dave Anderton

R

eal estate broker Jim Bringhurst remembers the time an official from Utah Worker’s Compensation Fund showed up at his office and said he was conducting an audit of his brokerage.

The audit came as a surprise to Bringhurst, who had always paid worker’s compensation insurance on his employees. Under Utah state law, every employer is required to carry workers’ compensation coverage. The coverage is paid

14 | Salt Lake Realtor ® | November 2017

by employers and the costs are prohibited from being passed on to employees.

A short time later Bringhurst got a bill for $50,000.

“I tried to explain to him that wasn’t correct, that Realtors® were independent contractors,” Bringhurst recalled. “I paid worker’s comp for employees in my office, but they wanted me to pay for every Realtor® going back several years.

“I’ve seen the value firsthand and how it’s protected our industry,” Bringhurst said. “I have also seen how other states haven’t done a good job and it has cost homeowners. I think we’ve done a good job in Utah.”

© Andy Dean / Adobe Stock

My office manager called the supervisor. He backed up his employee. We finally reached the supervisor’s supervisor and he said I was correct.”

Bringhurst, who founded The Bringhurst Group, which just recently merged with Windermere Utah Real Estate, said Realtors® can’t afford to be complacent when it comes to government regulations within the real estate profession.

That’s one of the reasons Bringhurst has been investing in the Realtors® Political Action Committee (RPAC). He started investing nearly 20 years ago when Butch Dailey, a former president of the Salt Lake Board of Realtors®, challenged him to be a major investor ($1,000 minimum investment over one year).

“I’ve seen the value firsthand and how it’s protected our industry,” Bringhurst said. “I have also seen how other states haven’t done a good job and it has cost homeowners. I think we’ve done a good job in Utah.”

Bringhurst was the first Realtor® at the Salt Lake Board of Realtors® to invest $50,000 in lifetime contributions to RPAC. For many years he remained the only one in the club. Then, in January of this year Gary Cannon, founder of Cannon and Company, reached the level. He was followed by Dave Robison, founder of goBE Realty, and Blaine Walker of Walker & Company Real Estate.

Nationally, only 100 Realtors® have achieved the Hall of Fame $50,000 tier, according to the National Association of Realtors®.

“I’m passionate about keeping taxes down for the people of Utah,” Cannon said. “People that buy or sell real property shouldn’t have to pay a tax on the transfer of that property. RPAC is the mechanism that has prevented the tax.”

Utah is just one of 13 states that doesn’t have a tax on the transfer of title of real property, according to the National Conference of State Legislatures. In Washington, the tax can amount to nearly 2 percent of the sales price of real property.

Not only does the state impose a transfer tax, but local jurisdictions also pile on their own fees.

Bringhurst believes that every full-time agent has an obligation to invest a minimum of $1,000 a year to RPAC. “This is effective,” he said. “It’s good money spent that protects our industry, livelihood and our clients.”

Walker said more people need to be elected to state and national positions who understand property rights. “It’s who we are as Americans,” he said. “We fight for the rights of all property owners, not just Realtors® making commissions.”

Dave Anderton is communications director of the Salt Lake Board of Realtors®.

November 2017 | Salt Lake Realtor ® | 15

© f11photo / Adobe Stock

House Tax Bill Means Tax Hike on Homeowners

By The National Association of Realtors®

T

ax reform discussions took a major step forward earlier this month as leaders on the House Ways and Means Committee released its legislative proposal for an overhaul of the American tax code. The National Association of Realtors® believes the bill represents a tax increase on middle-class homeowners.

“This legislation closely tracks with the House Republican Blueprint for tax reform, which threatens home values and takes money straight from the pockets of homeowners,” said NAR President William E. Brown, a second-generation Realtor® from Alamo, California and founder of

16 | Salt Lake Realtor ® | November 2017

Investment Properties. “Realtors® believe in the promise of lower tax rates, but this bill is nowhere near as good a deal as the one middle-class homeowners get under current law. Tax hikes and falling home prices are a one-two punch that homeowners simply can’t afford.”

Brown said that America’s homeownership rate still hovers around a 50-year low today. For many middle-class families, buying a home is the single largest investment they’ll ever make, and in fact, the average net worth of a homeowner is 45 times that of a renter. By eliminating or nullifying the incentive for homeownership, however, Realtors®

The Hemingway

3 NEW COMMUNITIES YOUR CLIENTS WILL LOVE! SOUTH HILLS 500 S. Academy Parkway, Herriman, UT 84096 New homes from the low $300s | 3 to 6 bedrooms, approx. 2,000 to 3,830 sq. ft. | Just off Mountain View Corridor, near downtown Herriman Brand-new floor plan lineup!

LAYTON SHORES 3200 W. 650 North, Layton, UT 84041 New homes from the upper $300s | 3 to 5 bedrooms, approx. 2,000 to 2,370 sq. ft. | Minutes from shopping, dining & golf | Near I-15 & Hill AFB!

OREM ORCHARDS 400 W. 350 South, Orem, UT 84058

The Hemingway

Visit the new model at Orem Orchards!

New homes from the mid $300s | 3 to 7 bedrooms, approx. 1,450 to 2,600 sq. ft. | Established area near UVU with no HOA!*

Tour today and discover everything these exciting communities have to offer your clients! *At this time, Orem Orchards does not have a Homeowners Association. Richmond American Homes makes no representation as to whether a Homeowners Association for Orem Orchards will be established in the future. Prices, specifications and availability are subject to change without notice. Square footage is approximate. Dates and times are subject to change without notice. Actual homes as constructed may not contain the features and layouts depicted and may vary from image(s). Š2017 Richmond American Homes, Richmond American Homes of Utah, Inc. (866.400.4131).

RichmondAmerican.com | 801.545.3429

Image licensed by Ingram Image

are concerned that homeownership’s wealthbuilding potential could be pushed out of reach.

Earlier this year, NAR released a full analysis of the House Republican blueprint for reform, finding that it would cause a 10 percent drop in home values and raise taxes on middle-class homeowners by an average of $815.

Like the blueprint, the legislation released today doubles the standard deduction, while repealing all itemized deductions, except for mortgage interest and charitable contributions.

NAR noted in its comments on the “Unified Framework” for reform that such a proposal would nullify the homeownership incentive for all but the top 5 percent of tax filers.

This bill, however, goes even further by capping the mortgage interest deduction at $500,000 for newly purchased homes. The legislation also eliminates state income tax deductions altogether, while installing a new

Service Directory Home Inspection

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

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

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

18 | Salt Lake Realtor ® | November 2017

cap on property taxes. At the same time, the proposal puts new restrictions on the capital gains exemption homeowners utilize today when they sell their home. The exemption is vital to allowing homeowners to use their equity to pay for retirement and other long-term needs.

“The nation’s 1.3 million Realtors® cannot support a bill that takes homeownership off the table for millions of middle-class families,” Brown said. “We know this legislation is just the beginning of a much longer discussion. Our members will continue to make their voices heard as we push towards tax reform that responsibly lowers rate while protecting the dream of homeownership.”

Marty Nordin Owner

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

801.232.0835

brickbybrickinspections@gmail.com

www.BrickByBrickUtah.com

ARCHITECTURAL & REAL ESTATE PHOTOGRAPHY kent@sheltonphoto.com | 801.278.4444 | sheltonphotography.com

Highly Competitive Pricing Fast Same-day Delivery of Your Images in Most Cases Photographer with Keybox access Showcase Your Listings with Award Winning Images Professional Images, More Showings, Higher Sales Price

Mention This Ad for 1/2 Off Your First Order!

Call Kent today at 801.278.4444

Kent Shelton

Master of Photography & PPA Certified

© kentoh / Adobe Stock

Sales Skills You Need to Rise Above Status Quo Becoming an “agile” salesperson requires rejecting old routines as “the way you must always do things.”

By Melissa Dittmann Tracey

“A

gility” isn’t a term applicable only to athletes. The ability to react quickly and change directions on a dime also aids real estate professionals in winning over more clients and staying ahead of industry trends. But to embrace this mindset, you can’t be afraid to go off script or challenge traditional sales performance goals.

An agile salesperson has the flexibility to react to what’s in front of him or her at the moment.

Sales coach Jill Konrath, author of Agile Selling (Penguin, 2014), defines agility in the sales sense as the ability to get up to speed and adapt to changing conditions rapidly. For busy practitioners, this seems like a natural fit; in many ways, you already are agile. But many put their focus on the end goal of a sale rather than the skills that

20 | Salt Lake Realtor ® | November 2017

lead to a sale, Konrath said. “It’s important to stop accepting old routines as the way you must always do things. Challenge yourself: Could I do better in my prospecting? Or how could I better my networking? How else can I assure that clients choose me? It’s all about opening yourself up to new ideas and a fresh way of thinking.”

One way to achieve sales agility is to use realtime digital communications, leveraging social media and the web to increase your responsiveness, says David Meerman Scott, an online marketing strategist and author of The New Rules of Sales and Service (Wiley, 2014). In many ways, it’s about changing your mindset, but there are some actionable steps you can take to improve your sales agility.

1. Always be in learning mode. Konrath said the ability to process and adapt to new information is the backbone to an agile selling mindset.

Real estate pros are bombarded with change, from home buyers’ rapidly shifting preferences to new technology and products claiming to be the next industry game-changer. Every individual transaction poses new challenges, too. All of that can make you feel overwhelmed. How will you ever get ahead?

The key is to educate yourself one focus area at a time, Konrath said. In real estate, you might choose to focus on learning more about your area’s green home market or new-home construction, developing your knowledge of a niche market.

Alternatively, you could focus on lead generation and finding a new contact management system to respond more quickly to leads. Look at every step of your sales process and find a key area of growth for yourself.

2. Listen to your clients more closely. Each client may require a slightly different approach to customer service. During your initial consultation, have a conversation with customers that will yield knowledge about their motivations for buying or selling. Then you can determine which items are most actionable for the client, which will help you steer the conversation to a more productive place.

“Be careful not to use it as an interrogation,” Konrath said. “Get a more in-depth understanding of your buyers—how they think and what factors go into their decision-making process. This gives you greater insight into how you can deal with and serve them better by focusing on what matters most to them.”

3. Operate in real time. Instant responses and messaging are important for achieving sales agility. Consumers are holding off longer before contacting you while doing more independent research online. They don’t need your help to narrow their real estate options. (Fifty-six percent of home buyers ages 36 and younger and 50 percent ages 37 to 51 say they found their home through the internet, according to NAR’s 2017 Home Buyer and Seller Generational Trends report.) But they still turn to you for help in completing the transaction. (The same NAR study found that working with a real estate agent remains consumers’ most used method for purchasing a home.)

Nevertheless, buyers are now in charge, Scott said. They decide when to reach out, and they expect instant responses from you. “Because of the tools that we have available today, we can find out what’s going on right now and be able to communicate instantly,” Scott added. For example, if you know that a client has downloaded a home staging white paper on your website, you can frame

the conversation around that topic. Consumer behavior on your site can inform further interactions that meet their needs.

4. Think differently about challenges. ”Failure is your route to success,” Konrath said.

It’s also another cornerstone to agile selling. “Any time you’re in a sales environment, you’re going to have failures, and people can quickly get discouraged. But instead of being bogged down in that failure, consider what you can do differently.

What input can you gather to get better? Use it as a learning experience.”

It’s better for your overall mental health, too.

Konrath points to neuroscience research that shows when you make a mental shift to view obstacles as opportunities, your brain suddenly feels re-energized. You’ll be more apt to scan your environment, looking for insights that might be useful.

Reprinted from Realtor® Magazine Online, August 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

Image licensed by Ingram Image

Action Steps Find a mentor. Choose someone who exemplifies what is in your ability to achieve. “Look at someone who is a little better than you to help you learn,” Konrath said.

Earn a real estate designation. The National Association of Realtors® has many curriculum options to learn a new skill, or you can take a course through Realtor® University.

Attend industry conferences and seminars. It’s an opportunity to discover a topic you’re interested in and network with likeminded professionals.

November 2017 | Salt Lake Realtor ® | 21

© biker3 / Adobe Stock

Delinquencies and Foreclosures on the Decline In Salt Lake City, 3 percent of mortgages are delinquent, down from 3.7 a year ago.

C

oreLogic®, analytics and data-enabled solutions provider, recently released its monthly Loan Performance Insights Report which shows that, nationally, 4.6 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in July 2017.

This represents a 0.9 percentage point year-overyear decline in the overall delinquency rate compared with July 2016 when it was 5.5 percent.

As of July 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.7 percent, down from 0.9 percent in July 2016 and the lowest since the rate was also 0.7 percent in July 2007.

In Salt Lake City, 3.0 percent of mortgages were delinquent by at least 30 days (including those in foreclosure) in July 2017 compared with 3.7 percent in July 2016, representing a decrease of 0.7 percentage points*. Salt Lake City mortgages in serious delinquency (90+ days past due) totaled 1.0 percent in July 2017 compared with 1.4 percent in July 2016. The foreclosure inventory rate for this July was 0.2 percent compared with 0.3 percent a year earlier.

Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next.

The national rate for early-stage delinquencies, defined as 30-59 days past due, was 2 percent in July 2017, down slightly from 2.3 percent in July 2016. The share of mortgages that were 60-89 days

22 | Salt Lake Realtor ® | November 2017

past due in July 2017 was 0.7 percent, unchanged from July 2016. The serious delinquency rate (90 days or more past due) declined from 2.5 percent in July 2016 to 1.9 percent in July 2017 and remains near the 10-year low of 1.7 percent reached in July 2007. Alaska was the only state to experience a yearover-year increase in its serious delinquency rate.

“While the U.S. foreclosure rate remains at a 10-year low as of July, the rate across the 100 largest metro areas varies from 0.1 percent in Denver to 2.2 percent in New York,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Likewise, the national serious delinquency rate remains at 1.9 percent, unchanged from June, and when analyzed across the 100 largest metros, rates vary from 0.6 percent in Denver to 4.1 percent in New York.”

Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30-days past due was 0.9 percent in July 2017, down from 1.1 percent in July 2016. By comparison, in January 2007 just before the start of the financial crisis, the current-to-30-day transition rate was 1.2 percent and it peaked in November 2008 at 2 percent.

“Even though delinquency rates are lower in most markets compared with a year ago, there are some worrying trends,” said Frank Martell, president and CEO of CoreLogic. “For example, markets affected by the decline in oil production or anemic job creation have seen an increase in defaults. We see this in markets such as Anchorage, Baton Rouge and Lafayette, Louisiana where the serious delinquency rate rose over the last year.”

POWER COMES IN HERDS.

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

©2017 BMW of North America, LLC. The BMW name, model names and logo are registered trademarks.

© ml / Adobe Stock

Seven Real Estate Ideas That Deserve to Die

Just because everyone believes something is true doesn’t make it so.

By Meg White

C

onventional wisdom dies hard. Popular perceptions may drive the decisions you make about your real estate career, from how you market your business to what your office should look like. But longstanding beliefs—these days amplified by social media bubbles and spin—can be flat wrong. Through research, crowdsourcing, and interviews with industry experts known for their skeptical eye, we uncovered some of the most questionable dogmas, along with reasons they should be dismissed. Reconsidering these ideas may embolden you to challenge other dubious

24 | Salt Lake Realtor ® | November 2017

notions you encounter as you serve clients and manage your career.

1. DIY tendencies will lead to more FSBOs.

Today’s do-it-yourself culture—driven largely by the explosion of information available on the internet—is not causing more people to try to sell their homes on their own, despite fears to the contrary. If you examine the news reports about the supposed rise in FSBO sales, the “evidence” for the trend usually comes from people running (continued on page 30)

��THANKSGIVING'S

,._ HER.ES

EST,

ca

2003

KRIS BOWEN REAL ESTATE

kw SOUTH VAll.EY KELl.ERWl.lW"IS.

EVERY YEAR THANKSGIVING'S HEROES CHARITY PROVIDES HUNDREDS OF MEALS TO FAMILIES IN NEED. THIS YEAR, WE NEED YOUR HELP TO FEED 1,000+ FAMILIES. WE NEED VOLUNTEERS AND DONATIONS TO MAKE IT HAPPEN. ThanksgivingsHeroes.com

MEET ROB ADAMS. T hanksgiving's Heroes

has humble beginnings.

Rob grew up in a small

Word spread and next thing you know over 800

families were fed that year. He wants to spread his experience with YOU as there is nothing more

rewarding than delivering food to a family in need.

"Having our children help others in need changes

town in Texas living out of a truck with his three siblings. His parents

their perspective from a world of entitlement to a

afford a Thanksgiving dinner. Fortunately for

merger with Kris Bowen Real Estate allows us to

struggled to make ends meet and couldn't

world full of gratitude" says Rob Adams. His recent

them, some caring and generous strangers

grow this into something none of us could have

home to feed Rob and his family. It touched

delivering the food to make it a reality!

came to their rescue and opened up their own

Rob so much that he wanted to pay it forward when he was able to. Thanksgiving's Heroes started three years ago and Rob was on a

mission to feed ten families.

imagined. We need your help sorting and

INTERESTED IN HELPING OUT? VISIT THANKSGIVINGSHEROES.COM FOR INFORMATION ON HOW TO GET INVOLVED.

QUESTIONS? CALL: 801.259.4341

Housing Watch Salt Lake County Home Prices Rise 67% since 2011 Market Bottom

T

he price of a single-family home increased to its highest point ever before, according to the Salt Lake Board of Realtors®.

In the July-August-September quarter, the median price of a Salt Lake County singlefamily home increased to nearly $330,000, a 10 percent rise year-over-year and a 67 percent climb (nominal dollars) compared to the third quarter of 2011 when home prices bottomed at $197,000. Adjusted for inflation, home prices today are 54 percent higher than in 2011.

Sales of single-family homes in Salt Lake County fell to 3,442 units sold in the third quarter, a 9 percent drop compared to sales a year ago during the same period.

Home sales were down 1 percent in Davis County, down 2 percent in Tooele County,

2 - C OL OR

down 4 percent in Utah County, and up 0.4 percent in Weber County.

Troy Peterson, president of the Salt Lake Board of Realtors®, said home sales likely would be higher if more housing inventory was available. “Home builders are continuing to ramp up production to meet extraordinary demand,” Peterson said. “New listings are up slightly over last year. Homes are on the market just 31 days before closing, down from 33 days last year at this time.”

Condominium sales in Salt Lake County increased to 1,179 units sold in the third quarter, up 1 percent compared to 1,171 units a year ago. The medium price of a condo reached $219,000, up 10 percent compared to $200,000 in the third quarter of 2016.

The top 10 most expensive Wasatch Front ZIP

The top 10 hottest ZIP codes for sales

codes in the third quarter

of single-family homes

1. The Avenues (84103) $608,000, up 22%

1. Clearfield (84015) 334

2. Emigration Canyon (84108) $550,000, up 16%

2. Tooele (84074) 306

3. Alpine (84004) $497,000, up 5.9%

3. Lehi (84043) 284

4. Draper (84020) $465,000, up 5.0%

4. Farr West (84404) 279

5. Holladay (84117) $465,000, up 21%

5. Herriman (84096) 223

6. Eden (84310) $460,900, up 7%

6. Eagle Mountain (84005) 219

7. Holladay (84124) $456,000, up 11%

7. Roy (84067) 215

8. Sandy (84092) $449,000, up 12%

8. West Jordan (84081) 190

9. South Jordan (84095) $441,592, up 8%

9. South Ogden (84403) 188

10. Canyon Rim (84109) $428,850, up 6%

10. Kearns (84118) 185

26 | Salt Lake Realtor ® | November 2017

COUNTY ZIP CITY 2017 HOUSE % +/- 2017 Q3 MEDIAN % +/- 2017 CONDO % +/-

# SOLD CHANGE SALES PRICE CHANGE # SOLD CHANGE

2017 Q3 % +/- CONDO MEDIAN CHANGE SALES PRICE

2017 Q3 % +/AVERAGE CHANGE CDOM

S.L. CO

84006

COPPERTON

1

0.00%

$210,000.00

10.53%

0

n/a

$0.00

n/a

1

-83.33%

S.L. CO

84020

DRAPER

173

4.22%

$465,000.00

4.79%

48

-45.45%

$273,200.00

15.03%

356

4.09%

S.L. CO

84044

MAGNA

112

-3.45%

$223,450.00

11.73%

11

-8.33%

$120,000.00

4.85%

181

9.04%

S.L. CO

84047

MIDVALE

67

8.06%

$274,000.00

8.30%

70

1.45%

$252,000.00

11.50%

206

40.14%

S.L. CO

84065

RIVERTON

165

-8.84%

$389,000.00

1.17%

77

13.24%

$263,000.00

8.53%

353

-2.49%

S.L. CO

84070

SANDY

70

-10.26%

$289,000.00

9.06%

49

145.00%

$195,000.00

-2.96%

147

15.75%

S.L. CO

84081

WEST JORDAN

190

27.52%

$317,925.00

6.33%

27

12.50%

$223,000.00

11.78%

293

51.81%

S.L. CO

84084

WEST JORDAN

115

-13.53%

$280,000.00

9.80%

46

-20.69%

$205,000.00

16.32%

203

-9.38%

S.L. CO

84088

WEST JORDAN

112

-30.43%

$302,078.00

7.89%

11

-15.38%

$203,000.00

2.06%

159

-17.19%

S.L. CO

84091

SANDY

0

n/a

$0.00

n/a

0

n/a

$0.00

n/a

0

n/a

S.L. CO

84092

SANDY

115

-4.17%

$449,000.00

12.25%

7

75.00%

$400,000.00

-4.19%

187

6.86%

S.L. CO

84093

SANDY

89

14.10%

$424,000.00

29.70%

0

-100.00%

$0.00

-100.00%

129

3.20%

S.L. CO

84094

SANDY

118

5.36%

$305,000.00

7.02%

17

6.25%

$259,780.00

10.08%

152

-7.32%

S.L. CO

84095

SOUTH JORDAN

140

-27.84%

$441,592.00

7.71%

54

-23.94%

$257,750.00

9.05%

328

2.82%

S.L. CO

84096

HERRIMAN

223

-3.88%

$365,000.00

8.80%

181

138.16%

$210,000.00

-6.65%

676

44.75%

S.L. CO

84101

SLC

3

-25.00%

$231,000.00

40.30%

25

-21.88%

$292,000.00

6.18%

61

10.91%

S.L. CO

84102

SLC

35

2.94%

$376,000.00

13.94%

27

-44.90%

$213,000.00

7.04%

96

21.52%

S.L. CO

84103

SLC

52

-28.77%

$608,000.00

21.60%

42

-2.33%

$251,057.00

39.48%

124

-10.14%

S.L. CO

84104

SLC

69

27.78%

$199,900.00

17.76%

4

0.00%

$86,500.00

32.57%

84

15.07%

S.L. CO

84105

SLC

82

-36.43%

$419,500.00

9.13%

1

n/a

$180,000.00

n/a

113

-27.56%

S.L. CO

84106

SLC

142

1.43%

$348,000.00

11.81%

43

-31.75%

$210,000.00

16.67%

221

-11.60%

S.L. CO

84107

MURRAY

62

10.71%

$284,000.00

4.24%

84

6.33%

$170,050.00

6.28%

188

13.94%

S.L. CO

84108

SLC

83

7.79%

$550,000.00

15.67%

16

-5.88%

$377,500.00

49.21%

128

7.56%

S.L. CO

84109

SLC

92

-10.68%

$428,850.00

5.89%

5

-16.67%

$193,500.00

26.47%

151

13.53%

S.L. CO

84111

SLC

19

-13.64%

$300,000.00

15.38%

27

22.73%

$244,500.00

27.01%

62

40.91%

S.L. CO

84115

S SLC

77

-4.94%

$254,900.00

9.87%

30

42.86%

$185,000.00

4.64%

121

-17.69%

S.L. CO

84116

SLC

79

-12.22%

$236,900.00

9.42%

15

15.38%

$141,000.00

8.46%

97

3.19%

S.L. CO

84117

HOLLADAY

60

-11.76%

$465,000.00

20.79%

49

-27.94%

$207,000.00

0.73%

176

-1.68%

S.L. CO

84118

KEARNS

185

-20.60%

$242,000.00

15.24%

5

25.00%

$236,694.00

28.32%

250

-14.09%

S.L. CO

84119

WVC

99

-15.38%

$235,000.00

14.08%

54

-18.18%

$163,450.00

2.00%

218

-0.91%

S.L. CO

84120

WVC

147

-17.88%

$242,000.00

12.56%

11

-38.89%

$225,000.00

7.68%

198

-13.54%

S.L. CO

84121

COTTONWOOD

134

-15.19%

$427,450.00

14.75%

50

4.17%

$237,500.00

21.17%

277

-3.15%

S.L. CO

84123

TAYLORSVILLE

67

-34.31%

$275,000.00

1.87%

51

15.91%

$166,500.00

14.87%

156

6.12%

S.L. CO

84124

HOLLADAY

74

-7.50%

$456,000.00

10.72%

22

-8.33%

$309,700.00

15.15%

158

26.40%

S.L. CO

84128

WEST VALLEY

91

3.41%

$272,900.00

15.88%

11

-26.67%

$194,000.00

8.87%

147

-2.65%

S.L. CO

84129

TAYLORSVILLE

101

-3.81%

$252,000.00

3.70%

9

-35.71%

$212,100.00

23.67%

162

26.56%

S.L. CO TOTALS

3443

-8.82%

$325,000.00

8.37%

1179

0.68%

$219,000.00

9.50%

6559

5.48%

DAVIS CO 84010

BOUNTIFUL

147

11.36%

$305,700.00

10.14%

34

-26.09%

$184,750.00

17.30%

259

12.61%

DAVIS CO 84014

CENTERVILLE

36

-16.28%

$325,000.00

3.21%

22

-31.25%

$239,950.00

29.70%

81

-19.80%

DAVIS CO 84015

CLEARFIELD

334

-0.60%

$235,450.00

8.72%

26

13.04%

$147,750.00

5.54%

422

-0.94%

DAVIS CO 84025

FARMINGTON

66

-25.84%

$390,500.00

2.76%

32

-25.58%

$242,000.00

6.14%

120

-20.00%

DAVIS CO 84037

KAYSVILLE

122

-12.23%

$392,500.00

15.44%

2

-75.00%

$259,250.00

27.08%

169

0.60%

DAVIS CO 84040

LAYTON

119

29.35%

$299,000.00

1.87%

23

130.00%

$243,000.00

78.35%

175

15.89%

DAVIS CO 84041

LAYTON

184

-0.54%

$259,950.00

14.26%

22

29.41%

$196,700.00

9.89%

284

27.35%

DAVIS CO 84054

N. SALT LAKE

101

18.82%

$328,000.00

18.11%

30

42.86%

$233,500.00

26.22%

134

-5.63%

DAVIS CO 84075

SYRACUSE

155

-1.90%

$338,000.00

7.90%

1

0.00%

$215,000.00

16.85%

191

-5.91%

DAVIS CO 84087

WOODS CROSS

51

-28.17%

$275,000.00

0.04%

7

75.00%

$249,900.00

9.37%

61

-40.20%

1315

-1.13%

$293,500.00

10.75%

199

-2.93%

$218,000.00

17.90%

1896

0.00%

DAVIS CO TOTALS

November 2017 | Salt Lake Realtor ® | 27

REALTOR® Connections

Pictured, Back Row: Johnny Aquino, left, Fabian Amarillo, Tavin Cardon, Chris Ferguson, Manfret Roesner, David Gomez, and Ruben Gomez. Front Row: Lucy Martinez, left, Julie Krushensky, and Morelza Boratzuk.

New NAHREP President

Julie Krushensky was elected 2018 president of Salt Lake Chapter of the National Association of Hispanic Real Estate Professionals. Her term begins in January. Julie is an account manager at First American Title. She has been a part of the First American family for seven years.

NAHREP is the voice for Hispanic real estate® and proud champion of homeownership for the Hispanic community. The NAHREP® Salt Lake City Chapter provides community outreach, educational and business networking events thanks to the gracious contributions of its Salt Lake City Chapter Board of Directors, members, and sponsors.

Pictured, Back Row: Mike Morgan, left, Bryan Colemere, Justin Allen, Fred Larsen.

Front Row: Steve Perry, Adam Gardiner, Corry Sue Cutler, Marcus Jessop, and Cecil Thompson.

Recorder Meets with Realtors®

Salt Lake County Recorder Adam Gardiner recently spoke to members of the Government Affairs/RPAC committee in October at the Realtor® Campus. Gardiner succeeded former Recorder Gary Ott, who passed away in October. Gardiner talked about how his office is making procedures easier for real estate and title professionals.

28 | Salt Lake Realtor ® | November 2017

On the Move CENTURY 21 Everest Realty Group announced it was named to the 2017 Utah 100. The rankings

by MountainWest Capital Network showcase the fastest-growing companies in Utah. CENTURY 21 Everest Realty Group ranked No. 47 out of 100 companies and was honored at the 23rd annual Utah 100 Awards program, held at the Grand America Hotel in Salt Lake City. Recipients of the Utah 100 were chosen by the percentage of revenue increase of each company from 2012 through 2016. “It is an honor to receive George Morris this ranking from MWCN,” said George Morris, CEO Century 21 Everest Realty Group.

“We have over 500 agents across the state of Utah working hard to serve the real estate needs of the great people who live here. This award is for them.”

The Council of Residential Specialists (CRS) announced today that renowned photographer and public speaker Platon will be the closing keynote speaker at its annual Sell-a-bration® 2018 event which is being held Feb. 5 - 6, 2018 at the Gaylord Texan Resort & Convention Center in Dallas. This year’s event will feature over 28 sessions including keynote speakers, interactive workshops, lectures and panel discussions in four topic driven tracks: 1) marketing and online reviews; 2) social media & video marketing; 3) special interest topics; and 4) systems for success. Sessions are being led by an impressive lineup of topproducing Realtors® and subject matter experts.

First American Financial Corp. said it was named as one of the 100 Best Workplaces for Women by Fortune magazine. The rankings were based on four factors: How women rated their organizations, comparison to colleagues, demographic patterns, and representation.

Remember this? it's a telephone.

#reallifeskills

pick up the telephone & resolve your own ethics complaints before we have to. 35% of all ethics & arbitration complaints were resolved in 2017 amicably & privately simply by communicating with each other before salt lake board intervention. pick up that phone!

Seven Real Estate Myths (continued from page 24) websites with names like Owners.com and FSBOhomes.com. In fact, National Association of Realtors® Chief Economist Lawrence Yun says the reality is quite the opposite. In recent years, the national FSBO rate as a percentage of all sales has held steady at 8 percent: “Despite the prevalence of online viewing, FSBOs are at near historic lows,” Yun said.

2. New windows make a home energyefficient.

While a boon to curb appeal, new windows are unlikely to be critically important to a home’s efficiency. The Federal Trade Commission has warned or filed charges against more than a dozen window manufacturers to ensure their marketing is truthful. Some companies were promising up to 50 percent return on investment thanks to energy savings; Laura Stukel estimates that number to be closer to 3 percent. “A window is basically a hole, and a hole is never efficient. You can have a slightly better hole, but it will never be a major factor,” said Stukel, an agent with LW Reedy Real Estate in Elmhurst, Ill. She tells owners who want to cut energy bills to start with insulation—likely a third of the cost of new windows—or just get a smart thermostat.

3. Members of generational groups are all the same.

Not all millennials want microapartments.

Not all baby boomers fear technology. Not all seniors want to age in place. Not all members of Generation X are stuck in homes they bought during the boom. Researchers group generations together to better understand trends, but agents and brokers serve clients best when they park stereotypes at the door. “We get it: Millennials are everywhere. Connected boomers act and think just like millennials,” said Nobu Hata, NAR’s director of member engagement.

4. There’s no need to spend money on marketing when homes are selling quickly.

During hectic times, it can be easy to overlook the reality that business won’t always be so brisk. Busy markets represent the best moment to invest in your business profile, according to Hata.

“Now is the time to spend the money and build a portfolio of work. You need to have the right tools in place to be able to attract business when the market tanks,” he said.

5. Brick-and-mortar real estate offices are a burden.

Brokers surveying thousands of square feet of empty cubes may be tempted to close their physical offices as a cost-saving move. “Moving

30 | Salt Lake Realtor ® | November 2017

“Despite the prevalence of online viewing, FSBOs are at near historic lows,” Yun said. away completely from brick-and-mortar is a mistake,” said Chris Lim, president of CLIMB Real Estate in San Francisco. “What owners and brokers need to do is really understand agents’ needs.” That’s why CLIMB’s in-house designer is constantly reexamining how salespeople use the company’s varied spaces and testing out new configurations for meetings and collaboration.

CLIMB’s main, 2,500-square-foot office serves as a test lab and hub for smaller offices and co-working spaces. An important aspect of the brokerage’s physical presence is ensuring the CLIMB brand is present where consumers gather. The company’s 500-square-foot “condo store” on a bustling street entices shoppers to visit new multifamily buildings all over the Bay Area using virtual and augmented reality. A custom Airstream trailer offers a unique presence at community events and open houses.

6. Traditional zoning is always the answer.

The idea of separating residential, commercial, and industrial space into separate pockets of land no longer fits with the way many people want to live, work, and play today. And some of the reasons behind this type of zoning aren’t applicable anymore (workplaces and factories are no longer the major contributors to pollution they once were, for one). Form-based codes offer one regulatory alternative where a community plan sets the development agenda and where mixeduse is the norm. Learn more at formbasedcodes. org.

7. Successful malls must rely on big department stores.

As longtime mall anchors J.C. Penney, Sears, and Macy’s falter, shopping mall owners are looking to grocery stores, restaurants, fitness centers, and even health care clinics as chief drivers of foot traffic. Experiential entertainment— encompassing everything from improv theaters to bowling alleys to karaoke bars—are also promising tenants for retail centers because they can fill large spaces with activities conducive to in-person engagement, a difficult element to reproduce online.

Meg White is the managing editor of Realtor® Magazine.

Reprinted from Realtor® Magazine Online, September 2017, with permission of the National Association of Realtors®. Copyright 2017. All rights reserved.

i

MY WHY? i I’m selective about who I work for. So, when I heard about the origins of RE/MAX, I was intrigued. Their North Star was simple, yet radical: pay agents what they deserve.

And that I can get behind.

Why RE/MAX? Their story is my why.

Š2017 RE/MAX, LLC. Each office is independently owned and operated. 17_217486

Find your why at joinremax.com

WELCOMING THE BRINGHURST GROUP TO WINDERMERE REAL ESTATE

JIM BRINGHURST

SEAN HANSEN

KATHY MCCABE

HEIDI GARDNER

ANDREW MCNEIL

STEVE BRUSH

CASEY LONGENEKER

MEG OSGUTHORPE

KONI WRAY

JAZMIN ADAMSON

For more information about Windermere, contact our principal broker, Grady Kohler, at 801-815-4663.

SUGAR HOUSE | UNION PARK | LAYTON 9 TH & 9 TH | HARVARD/YALE | PARK CITY | COALVILLE