WestWords - December 2022

WESTWORDS DECEMBER 2022

ROOMS THAT

I AM WEST USA

COURTNEY

BOSSOM

2000 CONTRACT COMMITTEE

WITH BROKER BOB

TIPS REAL ESTATE AGENTS

CAN USE TO INCREASE

HOME SALE PRICE

BENEFIT FROM A HOME WARRANTY

NOVEMBER MARKET STATS THANK YOU SPONSORS 2022 CHRISTMAS PARTY

DECEMBER CALENDAR

Four Peaks, Sonoran Desert

I AM

I AM COURTNEY BOSSOM I AM TRUSTWORTHY I AM KNOWLEDGEABLE I AM RELIABLE I AM GENUINE I AM ATTENTIVE I AM WEST USA

HIGHLY RECOMMENDED

WHAT PEOPLE ARE SAYING We are so grateful to have had Courtney as our REALTOR®!

In real estate, you need someone who is responsive and a strong communicator, who listens well and is committed to fighting for you when it gets tough. Courtney is that person!

She helped us while looking to buy and also when we sold our home. It was amazing to see her skill set on both ends.

We always felt that she was for us and wanted to get us the very best! She navigated a crazy seller's market by getting us in to see homes that were booked up. She is quick, smart, professional, and works hard from start to end. What a blessing to have had her on our side in this process. Couldn't recommend her more!

Courtney is the absolute best REALTOR® we have ever worked with! We were very fortunate to find this “diamond

in the rough” of a REALTOR®. She was always on top of communication, attentiveness, and knowledge. I feel like she did much more than the typical real estate agent. Especially as our buying agent. I can’t say enough good things about her!

Highly, highly recommend Courtney!!!

Courtney helped with the sale of our house, and the purchase of our new house. She was on top of everything all the way through both processes, and kept us informed on any changes or snags that came up along the way. She also explained everything along the way, as it had been a very long time since we had moved, and this was also the first "used" home we had ever purchased.

She was also very supportive when things started moving fast in the process. I would recommend her in a minute and she's the first call I would make if we ever move again.

BROKER BLOG WITH BOB STEPHENS 2000 CONTRACT COMMITTEE I wanted to be on this 2000 committee to help develop a contract that made a lot more sense with clear answers that until this time was not clear in the contract so I volunteered for the committee and was accepted as one of the 24 people. This included Real estate Brokers, Title company leaders, Lawyers, Lenders and others in this business! THESE QUESTIONS ARE STILL ASKED, BUT, THE ANSWERS ARE NOW---IN THE CONTRACT FOR YOU! I will explain some of these in this article because I was involved in the changes.

Questions such as - what constitutes a day were not clear and many references were made of business days. What is that? SO, I made the motion that was adopted and it now appears on lines 40910 of the contract.

Prior to this time, arguments developed between agents and brokers about what "REASONABLE" meant. It was in the contract twice - I made a motion that it be removed and it passed. Another committee has recently put it back into the contract and of course, there is still no absolute definition of this word. Another item that made no sense was the RESPA inclusion at the beginning of the contract which took up about 25% of the page. It is a HUD law and not arguable by clients. The contract is an agreement between buyers and sellers and it matters not whether they agree with RESPA. So why is it in the contract? I made the motion to remove it and it was approved. I suggest that all new agents read and understand what it means, and then to keep in compliance and keep your license.

Next, was calculating TIME periods. I wrote lines 411415 of the contract and made the motion to accept it and it was passed. This very week, an agent was served with a CURE notice and the agent that sent it called and reminded our agent that today is day one. She called me and asked about this issue and I told her to look at these lines of the contract that I got added to it and then tell the OB to check it out.

Debbie was very happy-tomorrow is day one! (OB is other broker).

Next was COE! It was never explained what that meant and if it went to court; what would the answer be? So I changed it to say CLOSE OF ESCROW and then in parentheses-COE. I always thought it might mean CODE OF ETHICS or even CERTIFICATE OF ELIGIBILTY! SO, it got explained.

Now then, the big one was POSSESSION and agents really played with this one previously such as possession is COE plus 3 days, for instance, so I wanted it totally clarified and the result is on line 32.

AT COE, BE OUT! Property now belongs to someone else! Next, the executive from the title company and I sat next to each other and both wanted the "EAGLE" policy as the choice for title insurance-also release of earnest money is at their sole discretion without fear of any lawsuits or actions taken against them-and we got it added to the contract. There was also a discussion of the initials portion whereupon, John Foltz got line 418 added about the failure to initial shall not affect the validity of the contract.

One of the most important items was added by Jim Sexton that says, on line 262-63, "all items disapproved shall be provided in a SINGLE NOTICE"!

QUESTIONS, CONTACT: Managing Broker, Bob Stephens | 602-942-4200

TIPS REAL ESTATE AGENTS CAN USE

TO INCREASE HOME SALE PRICE BY: WISE AGENT Selling a home is a lot like dating. It takes two to tango. The seller and real estate agent must be perfectly harmonious throughout the transaction.

However, this harmony is easier said than done. Every seller wants to know that they are getting the best price possible for their property in the current market.

As a listing agent, it's essential to understand how to increase your client's home sale price. However, to master this process, you must acknowledge how to improve the property and create more demand.

Let’s look at a few tips that improve commissions, referrals, and customer satisfaction.

IMPROVING THE PROPERTY Agents commonly mistake focusing too much on the property’s marketing plan. While fantastic marketing does play a role in determining a home's value, it's the quality of the house that matters. Ensuring the home has essential repairs and amenities will help improve sales prices and marketing.

HOME REPAIRS Home repairs aren't just about fixing problems; they're also about making improvements. Recommending these improvements can help your commission check. For example, if you notice that your client's home has a leaky roof, you should recommend fixing it instead of waiting for it to appear on an inspection report. The same goes for other issues with water damage, plumbing, electrical, HVAC systems, termites, and more.

Prospective buyers will consider the long-term benefits of recent home repairs. Fixing problems before the home is listed can mean a higher sales price. In addition, taking care of repairs ahead of time makes the transaction process smoother.

ATTRACT HOMEBUYERS After implementing the essential repairs and amenities, it's time to generate demand for the listing. Again, it's critical to have a strong marketing strategy to get many people interested in the property. The more people interested, the more offers you'll receive. Interested buyers could cause a bidding war and drive the price up.

MARKETING PLAN FOR THE PROPERTY If you want to impress your client and sell their property for more than they expect, you need a sound marketing plan.

If you exceed their expectations, they will reward you by referring their friends and family to you. So it's crucial to create and execute the marketing plan flawlessly.

When creating your marketing plan, determine your target audience and develop strategies to reach that audience.

First, you must correctly place the listing in Multiple Listing Services (MLS) and popular syndicated websites.

These listings need great descriptions and include all essential details.

Once the basics are complete, it's time to start your digital marketing efforts. Instagram and Facebook ads are a great way to reach Millenials who have quickly become the primary home buyers in the country. Be sure to send all traffic to a relevant landing page about the property to collect contact information to feed into your CRM. FINAL THOUGHTS The listing agent who can get the best price for their client's property will see more referrals from their clients. To ensure this, agents and their customers must sync on the strategy to get the best possible price.

To have a match made in heaven, you’ll need to recommend the proper repairs and improvements to your client, and your client must be willing to make them. To be a great partner, you’ll need to use strategies to attract homebuyers. Strategies include a marketing plan, home staging, professional photography, and leveraging multiple technologies. Once these components are complete, the home should sell for a price that will thrill you and your client.

It can be overwhelming trying to keep track of your progress in getting a home ready for the home buying process. Luckily for you, CRM’s like Wise Agent can help you stay focused on and on track so you can be the very best agent you can be.

ROOMS THAT BENEFIT FROM A HOME WARRANTY

BY BREANNA CASTRO

With home warranty protection, you'll be covered when appliances break, your air conditioning cuts out, your plumbing stops working or something else covered on your plan causes problems. When an issue arises, you can simple call or go online to request services and we'll send out a repair specialist. We'll help you get back up and running by fixing or replacing the covered appliances or home system.

KITCHEN

The kitchen is a place for your home warranty to really shine. Out of all the rooms in your home, your kitchen benefits the most from any home warranty plan with appliance coverage.

What does a home warranty cover in the kitchen? Home warranty provides coverage for normal wear-and-tear breakdowns of your refrigerator, dishwasher, garbage disposal, and builtin microwave to name a few.

LAUNDRY ROOM

The laundry room is another room where your home warranty coverage will come

in handy. So the next time your dryer is making a funny noise or your washer quits halfway through the cycle and won't start up again, we're here to take your service request and send a local professional to fix your problem.

BATHROOM

Home warranty can cover many components of your home's plumbing, including blockages due to most causes. Your bathroom can benefit from coverages of fixtures and components, like toilet parts, shower heads, faucets, and water or drain lines. You can also use your coverage to clear drain stoppages in the toilet, sink or bathtub.

BEDROOM

Home warranty coverage of electrical systems, including the wiring and fixtures in your bedrooms. Coverage for your home's HVAC can also help keep your bedroom warm and toasty in the winter and cool in the summer.

Shelley Carr | 623-201-2594 | shelley.carr@oneguardhw.com Bre Castro | 623-500-3825 | breanna.castro@oneguardhw.com Pamela Balin | 602-499-5544 | pamela.balin@oneguardhw.com

BE PERCEIVED AS THE EXPERT

BY UNDERSTANDING MARKET STATS WITH TODD MENARD

During the weekly Tuesday Webinar Market Stats segment, I provide you with the current market stats using two reports, the Market Stats Graphic, and the Market Comparison Spreadsheet. These are created for two different personalities, the first for the “D” driver and “I” influencer, and the second for the “S” structured and “C” calculative behaviors, the latter group of course being more analytical. Neither is right or wrong, it's just the way humans are wired. I recommend sending and sharing both, and during a follow-up call, you can ask them which they found more useful. This will help you internalize why the market stats are beneficial to your clientele. In this issue we will discuss the Market Stats Graphic. We will finish the discussion next month with an explanation of the Market Comparison Spreadsheet.

THE MARKET STATS GRAPHIC This report is designed to make the information as easy to read as possible, Each section shows the key performance indicators “KPI's” and their value for the current reporting period identified on the graphic. A percentage identifies the difference between this reporting period and the last, while the colored triangles indicate whether the value is worse (red), or better (green), for the real estate industry.

Here is an explanation of the key indicators: SOLD DAYS ON MARKET “DOM” The Sold DOM shows you the average days the sold, not active, properties were on the market. This means prior to being reported as pending.

MONTH’S SUPPLY This helps understand how quickly the market is moving. If the number Is 2.5, then this means that in 2.5 months there would be no inventory remaining.

ABSORPTION RATE Absorption is the rate at which the inventory is being consumed.

When the rate Is 4.5%, this means that 45% of the available homes for sale is being absorbed or taken away from the inventory.

AVERAGE LIST PRICE If you total the list prices of homes listed within that period of time, and divide by the number of properties listed, the result is the Average List Price.

AVERAGE SALES PRICE If you total the sale prices of homes closed within that period of time and divide by the number of units (number of properties) closed, the result is the Average Sales Price.

TODD MENARD’S REAL ESTATE MARKET STATS NOVEMBER 2022

LIST PRICE TO SALES PRICE RETENTION “LP:SP' This is the percentage of the list price retained at the time of closing. If you take the Sales Price and divide it by the List Price (at the time the offer was accepted), the result is the LP: SP retention. If the percentage is 97.8% this means that the sales price was 97/8% of the List Price at the time the offer was accepted. The average number should be 97.8%. When the number is higher the seller market is firmer on the list price.

Conversely, when the percentage is below 97.8% the Seller market is less firm and more willing to negotiate.

NEW LISTINGS TAKEN This is the number of listings added to ARMLS during the past week. This number needs to remain above 2500 to be in a neutral market where supply and demand are between a 4 and 6 months supply. When this number decreases, we head towards a seller’s market. When this number increases we are headed toward a buyer’s market. 4-6 months supply is neutral, however the market does best between 3-4 months’ supply.

PENDING Pending gauges the number of properties in escrow at any point in time.

CLOSED Closed sales allow us to compare monthly and annual sales cycles, average monthly sales, and the percentage of average monthly sales to help us identify our marketing and advertising objectives.

PRICE RANGE STATISTICS This shows the state of the Active inventory. It allows you to see the number of active properties, the average days on market, and the percentage of the total inventory for that price range. This is helpful on listing and buyer appointments to help the consumer identify and set proper expectations for their personal objective.

LAST MONTH'S TOTALS This allows a simple flashback opportunity to see a month at a glance and the comparison to last month, as well as the same month a year ago. This helps better understand the weekly statistics, as a comparison of a whole month.

Stay tuned to the weekly webinar or visit out YouTube Channel to listen to the market statistics while on the go using a mobile device. - www.youtube.com/westusarealtyinc

2022

Christmas Party Partnered with West USA Cares Annual Casino Night

Thank You SPONSORS TICKETS ON SALE

WESTUSARSVP.COM

SALVATION ARMY

BELL RINGING LOOKING FOR VOLUNTEERS FOR

90-MIN SHIFTS 10:45AM | 7:00PM STARTS AT

11/30

ENDS AT

12/07

12/14

12/21

THIS YEAR, WE ARE RINGING IN 4 LOCATIONS EAST VALLEY

WEST/NORTH VALLEY

2750 E GERMANN RD CHANDLER, AZ 85286

20220 N 59TH AVE GLENDALE, AZ 85308

WALMART

FRY’S

AHWATUKEE

HOBBY LOBBY 4710 E RAY RD PHOENIX, AZ 85044

GOODYEAR

SAFEWAY

14175 W INDIAN SCHOOL RD GOODYEAR, AZ 85395

ACT NOW TO GET YOUR FIRST CHOICE OF LOCATION & TIME! SCAN THE QR CODE OR GO TO: WWW.RINGTHEBELLSIGNUP.COM

M O N DAY

T U E S DAY

W E D N E S DAY

DECEMBER 2022 T H U R S DAY

F R I DAY

01

9:00am - 12:00pm @ Chandler Office FREE LIVE CE CLASS Mastering the AAR Listing Contract (3Hrs Contract Law) 9:00am - 4:00pm / Zoom ProStart Session 2 - Day 4 of 4 10:00am - 11:00am / Zoom iFound Agent - Ask the Pro Workshop 2:00pm - 4:00pm @ Mesa Office Deck the Halls Decorating Event

9:00am - 10:00am / Webinar West USA Weekly Webinar

05

10:30am - 12:00pm / Zoom West USA Agent Orientation 2:00pm - 2:30pm / Webinar Don’t Do Dat w/Broker Bob Stephens

9:00am - 10:00am / Webinar West USA Weekly Webinar

12

2:00pm - 2:30pm / Webinar Don’t Do Dat w/Broker Bob Stephens

06

9:00am - 11:00am @ Chandler Office Take Flight 10:00am - 11:30am @ Surprise Office Surprise Office Meeting 10:00am - 11:00am @ Goodyear Office Goodyear Office Potluck Party 11:30am - 1:00pm @ Kierland Office 2023 Market Forecast 1:00pm - 2:00pm / Zoom CoStar/Loopnet Advanced Training Session 1:00pm - 3:00pm @ Mesa Office Vision Boards 3:30pm - 4:00pm @ Arrowhead Office Arrowhead Accountability Group

13

9:00am - 12:00pm @ Mesa Office LIVE CE CLASS Mastering the AAR Residential Purchase Contract (3Hrs Contract Law)

11:30am - 1:30pm @ Surprise Office End of Year Potluck

07 9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS Agency & Industry Related Issues (3Hrs Agency Law) 10:00am - 11:30am @ NPhx Office Exclusive Sales Training Event for Agents 12:00pm - 1:00pm @ Surprise Office Women4Women Packing Party 2:00pm - 3:00pm / Zoom Advanced Transaction Desk Training 5:00pm - 7:00pm @ Chandler Office Photos with Santa & Unicorn Event

14

9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS Mastering the AAR Listing Contracts (3Hrs Contract Law)

10:00am - 11:00am @ Kierland Office Kierland Office Meeting

19

2:00pm - 2:30pm / Webinar Don’t Do Dat w/Broker Bob Stephens

26 ALL OFFICES CLOSED CHRISTMAS DAY (OBSERVED)

20

10:00am - 12:00pm @ Palm Valley CC Goodyear Essential Learning 10:00am - 1:00pm @ Mesa Office Business Planning Workshop

10:00am - 11:00am / Zoom Team Leader Mastermind

10:00am - 11:00am / Zoom Coaching Essential Learning

09

10:30am - 11:30am @ Ahwatukee Office Ahwatukee Office Meeting

15

10:00am - 11:00am / Zoom iFound Agent - Ask the Pro Workshop

16

10:00am - 1:00pm @ Kierland Office LIVE CE CLASS The AAR Pre-Qual Form & the Agent (3Hrs Contract Law) 5:00pm - 7:00pm @ TBD Chandler Happy Hour

3:30pm - 4:00pm @ Arrowhead Office Arrowhead Accountability Group

9:00am - 10:00am / Webinar West USA Weekly Webinar

08

10:00am - 10:30am @ Arrowhead Office Advice with Andrei 10:00am - 11:00am / Zoom iFound Agent - Ask the Pro Workshop

02

9:00am - 12:00pm @ North Phx Office FREE LIVE CE CLASS Intro to Divorce Real Estate (3Hrs Contract Law)

21

9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS Duties to Clients and Customer (3Hrs Commissioner Standards)

10:00am - 11:30am @ Chandler Office Chandler Office Meeting

27

28

22

10:00am - 10:30am @ Arrowhead Office Advice with Andrei

10:00am - 11:00am / Zoom iFound Agent - Ask the Pro Workshop

29 10:00am - 11:00am / Zoom iFound Agent - Ask the Pro Workshop

3:30pm - 4:00pm @ Arrowhead Office Arrowhead Accountability Group

SPONSORS

23

30