WestWords - January 2024

WESTWORDS JANUARY 2023

I AM WEST USA

TERRY PARRISH INCREASE YOUR KNOWLEDGE FROM DEAN BECKER

MAXIMIZE YOUR

PRODUCTIVITY

WITH THE TOP 2024 PLANNER FOR REAL ESTATE AGENTS

THE PROS AND CONS OF A

TANKLESS WATER HEATER

DECEMBER MARKET STATS

HAPPY HOLIDAYS FROM WEST USA

JANUARY CALENDAR

I AM

TERRY PARRISH WHAT PEOPLE ARE SAYING...

I just closed on my home with Terry and I must say she was one of the best to work with. When we had a tough time getting offers accepted on homes we liked, she always maintained a positive attitude and reassured us the right one would come along. And sure enough, it did! Terry also had our back in negotiations and made sure we got the best deal. I’d of course highly recommend working with Terry to anyone interested in a great REALTOR®. You will not regret it!

Terry was amazing, worth every penny of her commission. She saved me so much time preparing my house for sale and handling all the details of the transaction through the entire sales process. She knows the business, is efficient and responsive, and is a considerate and kind person with a no-pressure style. Overall a true pleasure to work with.

Terry did an outstanding job selling my home.

She is extremely knowledgeable in her field, kind, honest, and incredibly professional. She goes above and beyond to get the job done. I would highly recommend her services and expertise.

HONEST • STEADFAST • ATTENTIVE • KNOWLEDGEABLE • COMPASSIONATE

5 YEARS

BROKER BLOG FROM DEAN BECKER INCREASE YOUR KNOWLEDGE

As a real estate agent looking to increase your knowledge and expertise in the field, there are several strategies you can employ to stay ahead and provide better service to your clients. Here are some valuable steps to consider:

LEARN FROM EXPERIENCED CLIENTS: Listen to your clients' experiences and feedback. Each transaction can provide valuable insights and lessons that can help you improve your services.

CONTINUING EDUCATION: Real estate laws, market trends, and best practices are constantly evolving. Take advantage of office meetings, workshops, seminars, webinars, and online courses offered by reputable real estate organizations, local associations, and educational institutions. These can help you stay up-to-date with the latest developments in the industry.

LEVERAGE TECHNOLOGY: Embrace real estate technology tools and software that can streamline your processes, manage client data efficiently, and provide market analytics.

READ INDUSTRY PUBLICATIONS: Subscribe to real estate magazines, newsletters, and online blogs. These resources often provide insights into market trends, tips for successful selling, and real-life case studies that can broaden your understanding.

NETWORKING: Engage with other real estate professionals, attend industry events, join real estate forums or social media groups. Networking allows you to share knowledge, learn from experienced agents, and build a strong professional circle.

UNDERSTAND FINANCING OPTIONS: Familiarize yourself with various financing options and mortgage products available to buyers. This knowledge will be valuable when assisting clients in their home purchase.

OBTAIN CERTIFICATIONS: Consider pursuing industry certifications or designations, such as the National Association of Realtors' (NAR) designations like Accredited Buyer's Representative (ABR) or Certified Residential Specialist (CRS). These designations add credibility to your expertise.

LEARN NEGOTIATION SKILLS: Negotiation is a crucial aspect of real estate transactions. Enhance your negotiation skills through training and practice.

MENTORSHIP: Seek out experienced mentors who can guide you through the intricacies of the real estate business. Their practical insights can be invaluable in your professional growth.

ATTEND OPEN HOUSES AND SHOWINGS: Regularly attend open houses and property showings, not only for your listings but also to get a sense of the broader market and the competition.

SPECIALIZATION: Consider focusing on a particular niche within real estate, such as luxury properties, commercial real estate, or investment properties. Specializing can deepen your expertise in a specific area and attract clients seeking your particular skills.

Remember, the real estate industry is dynamic and highly competitive. Continuously expanding your knowledge and honing your skills will not only benefit your clients but also give you a competitive edge as an agent. Commit to lifelong learning, stay adaptable, and be open to embracing new ideas and technologies in the field.

STAY INFORMED ON LOCAL MARKET: Knowing your local real estate market inside out is crucial. Keep track of property sales, price trends, and other relevant data in your area. Understanding local factors affecting the market will make you a more reliable resource for your clients.

QUESTIONS, CONTACT:

Managing Broker, Dean Becker | 602.942.4200

Productivity

MAXIMIZE YOUR WITH THE TOP 2024 PLANNER FOR REAL ESTATE AGENTS WITH WISE AGENT

As a real estate agent or broker, you know how important it is to stay organized. With so much going on, it can be easy to forget appointments or miss deadlines. THAT'S WHY HAVING A RELIABLE PLANNER IS ESSENTIAL.

Choosing the Right

Planner for Your Real Estate Business

VIRTUAL VS. PAPER: FINDING YOUR PREFERENCE

In an increasingly digital world, the debate between using a virtual planner and a traditional paper planner is more relevant than ever. As a real estate agent, choosing between these two options can significantly impact your productivity and efficiency.

BENEFITS OF A PAPER PLANNER

Using a paper planner comes with its own set of benefits. The tactile experience can be more satisfying for some, aiding in memory retention of tasks and appointments. It also provides a visual overview of your schedule without needing devices.

However, there are limitations: • Lack of instant updates or reminders • Limited space for changes or additions • Difficulty in sharing information with other

BENEFITS OF A VIRTUAL PLANNER

On the flip side, a virtual planner offers advanced features that go beyond basic scheduling: However, there are limitations: • Instant synchronization with digital platforms like Google Calendar • Easy collaboration through shared calendars • ntegrated task management linking tasks to specific contacts • Document attachment capabilities for comprehensive event records

How the Planner in Your CRM Can Enhance Your

Productivity

You don't need to look far to find a great virtual planner - it is already right in your CRM! Here are some reasons why this time management tool is worth considering: 7. SET UP ALERTS FOR EACH EVENT: Easily set up 1. STAY ORGANIZED: With this planner, you can easily 4. REAL ESTATE CALENDAR INTEGRATED WITH CONTACT LIST: It easily associates appointments multiple planner alert reminders to text and email keep track of your appointments, events, and tasks with contacts and automatically adds appointments you or anyone on your team reminders about in one place. No more scrambling to find information important appointments days, hours, and minutes or double-booking yourself. to date and time-stamped contact notes. Long after the appointment has passed, you see all the before the scheduled time.

2. SYNC WITH OTHER TOOLS: It integrates seamlessly appointments and tasks with each client by scrolling with calendar apps like Google Calendar, making it 8. SHARE EVENTS: Wise Agent allows you to link your down the contact notes. even easier to manage your schedule. account to as many other Wise Agent accounts as 5. ASSIGN EACH EVENT COLOR AND ICON: Each event you need and easily share things like appointments 3. TEAM FRIENDLY PLANNER: This planner is not just from one to many. on your planner can be assigned a color and an icon for individual agents - it's team-friendly, too. You to make it stand out and easy for you to find at a can easily share your schedule with team members, quick glance. assign appointments, and collaborate on important projects. View the entire team's appointments or narrow it down to view your appointments only.

6. EASILY SCHEDULE REPEATING EVENTS: Set up your daily, weekly, monthly, or yearly recurring events once, and don't worry about them again.

Choosing the right planner for

You

When comparing different real estate agent planners, consider your personal preferences and work style. If you value mobility, instant updates, and seamless integration with other digital tools, a virtual planner might be your best bet. However, if you prefer a classic approach and find writing things down helps you remember them better, a paper planner could suit you better.

The key is to choose the tool that aligns with your needs and enhances your productivity. Explore both options and CHOOSE WISELY!

THE PROS AND CONS OF A WATER HEATER

TANKLESS

If it’s time to replace or upgrade your water heater, you may be considering installing a tankless model in your home. It’s important to review tankless water heater pros and cons to help you make the right decision about which type of water heater to choose. Let’s cover how tankless water heaters work, the differences between gas and electric models, and the benefits and potential downsides of tankless units.

HOW TANKLESS WATER HEATERS WORK Tankless water heaters—also known as demand-type, on-demand, or instantaneous water heaters—heat water directly without the need to store water. A tankless water heater has a flow-sensing device that is activated whenever a hot water tap is opened.

The unit then heats the water using either a gas burner or an electric element and directs it wherever it’s needed in your home.

Once you close the hot water tap, the unit senses that the flow of water has stopped and shuts off the heating element.

TANKLESS GAS WATER HEATERS VS. TANKLESS ELECTRIC WATER HEATERS When choosing a new water heater, consider the energy source. Electric tankless heaters are cost-effective, easy to install, and low-maintenance, suitable for small households. Gas tankless heaters offer higher heating power, but installation may require adjustments and ventilation. Both types are rated by their energy factor (EF) for efficiency, with higher EF ratings indicating better efficiency. Choose electric for simplicity or gas for greater power, depending on your household size and needs.

BENEFITS OF A TANKLESS WATER HEATER

DISADVANTAGES OF A TANKLESS WATER HEATER

SIZE. They're space-saving and wall-mounted, ideal for homes with limited square footage.

UPFRONT COST. Tankless heaters are more expensive to purchase and install compared to traditional tank heaters. However, their energy efficiency can offset the upfront expenses. Installation costs can vary due to necessary adjustments like extending or relocating piping and adding a safety vent for gas units.

ENERGY EFFICIENCY. Tankless models can be up to 34% more energy-efficient than conventional ones, reducing monthly utility bills. Note that efficiency varies between electric and gas tankless heaters.

LIFE SPAN. They have a durable lifespan of around 20 years, twice that of traditional water heaters.

SAFETY. Tankless units are safer with no exposed pilot lights and often include overheating sensors.

FINAL THOUGHTS Protect your tankless water heater investment with an American Home Shield home warranty. All our plans cover water heater repairs due to wear and tear, including tankless units. With Shield Complete, you can even get coverage for code updates, modifications, or permits, up to $1,000.

SPEED. Despite the name, tankless doesn't mean instant hot water. Tankless units may not deliver hot water faster than conventional heaters because they need time to heat the water before it reaches the tap.

CAPACITY. Tankless heaters have a limited hot water flow rate (typically 2 to 5 gallons per minute). This might not suffice for simultaneous hot water usage in larger households. Installing multiple units can solve this issue but adds to the upfront cost.

POWER OUTAGE RISK. Electric tankless heaters won't produce hot water during power outages since they lack storage capacity.

WATER TYPE. Hard water can affect tankless heater efficiency.

Regular maintenance, including draining and filter replacement, is essential to prevent efficiency loss and warranty voidance.

Derek Riley, Market Manager 480-286-1996 • derek.riley@ahs.com

BE PERCEIVED AS THE EXPERT

BY UNDERSTANDING MARKET STATS WITH TODD MENARD

In our weekly webinar, we discuss current real estate market statistics using two reports tailored for different personality types: the Market Stats Graphic for "D" drivers and "I" influencers, and the Market Comparison Spreadsheet for the more analytical "S" structured and "C" calculative types. Both are important, and I suggest sharing both with clients, then discussing which they found most useful in a follow-up call.

This session focuses on the Market Stats Graphic, designed for clarity with key performance indicators (KPIs) and their current values, comparing them to the previous period using color-coded triangles for easy interpretation.

TODD MENARD’S REAL ESTATE MARKET STATS DECEMBER 2023

KEY INDICATORS EXPLAINED: • SOLD DAYS ON MARKET (DOM): Average days sold properties were on the market.

• MONTH’S SUPPLY: Indicates market pace; e.g., a 2.5-month supply means all inventory would be sold in 2.5 months.

• ABSORPTION RATE: Percentage of homes sold from the available inventory.

• AVERAGE LIST PRICE: Total of listed home prices divided by the number of homes.

• AVERAGE SALES PRICE: Total of closed sale prices divided by the number of sales.

• LIST PRICE TO SALES PRICE RETENTION (LP:SP): Percentage of the list price retained at sale.

• NEW LISTINGS TAKEN: Weekly added listings, indicating market trends.

• PENDING: Number of properties in escrow.

• CLOSED: Sales data for analyzing sales cycles and marketing strategies.

• PRICE RANGE STATISTICS: State of the active inventory, useful in appointments.

• LAST MONTH'S TOTALS: Comparison of monthly statistics.

The next webinar will cover the Market Comparison Spreadsheet. You can also access these stats on our YouTube channel for mobile listening. www.youtube.com/@westusarealty

THANK YOU

Holiday Party FOR JOINING US AT THE

M O N DAY ALL OFFICES CLOSED NEW YEARS DAY

T U E S DAY

01

W E D N E S DAY

02

9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS: High Fiduciary Representation (3Hrs Fair Housing)

03

11:00am - 1:00pm @ Chandler Office Go from Relationships to Referrals, Business Strategy Session

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

08

10:00am - 11:30am @ Scottsdale Office Mastermind Meeting with Great American Title 10:30am - 12:00pm / Zoom West USA Agent Orientation

ALL OFFICES CLOSED MARTIN LUTHER KING JR DAY

15

09

9:00am - 12:00pm @ Chandler Office FREE LIVE CE CLASS: To Be Or Not To Be Paid, That is the Question (3Hrs Contract Law) 9:00am - 3:00pm / Zoom REACT 10:00am - 11:00am @ Goodyear Office Goodyear Office Meeting 1:00pm - 4:00pm @ Chandler Office LIVE CE CLASS: General Finance for REALTORS® (3Hrs General CE)

9:00am - 4:00pm / Zoom ProStart Session 2

10 9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS: To Be Or Not To Be Paid, That is the Question (3Hrs Contract Law) 9:00am - 3:00pm / Zoom REACT 9:00am - 4:00pm / Zoom ProStart Session 1 10:00am - 11:30am @ Scottsdale Office Scottsdale Office Meeting 11:30am - 1:30pm @ Surprise Office Kick Off 2024 Potluck 4:30pm - 6:30pm @ Arrowhead Office Arrowhead Happy Hour

16

10:00am - 1:00pm @ Scottsdale Office FREE LIVE CE CLASS: Mastering the AAR Listing Contract (3Hrs Contract Law)

17 9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS: Duties to Clients and Customers (3Hrs Commissioner Standards)

JANUARY 2024

T H U R S DAY

F R I DAY

04

05

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

9:00am - 10:30am @ Surprise Office Aligned Showings - ARMLS Class

10:00am - 11:00am @ North PHX Office Aligned Showings - ARMLS Class

10:00am - 12:00pm @ Mesa Office Photo Shoot Day

11

9:00am - 3:00pm / Zoom REACT 9:00am - 4:00pm / Zoom ProStart Session 1 10:00am - 12:00pm @ Scottsdale Office Brunch & Learn with the City of Scottsdale 10:30am - 11:30am @ Ahwatukee Office Ahwatukee Office Meeting 4:00pm - 6:30pm @ Hula’s Modern Tiki Norsdale Happy Hour

9:00am - 4:00pm / Zoom ProStart Session 2

18

9:00am - 4:00pm / Zoom ProStart Session 1

12

10:00am - 11:30am @ North PHX Office Coaching Essential Learning

9:00am - 4:00pm / Zoom ProStart Session 2

19

10:00am - 11:00am @ Surprise Office Coffee with Justin

9:00am - 4:00pm / Zoom ProStart Session 2 10:00am - 11:00am @ Chandler Office Chandler Office Meeting

5:00pm - 7:00pm @ Fat Willy’s Chandler Happy Hour

10:00am - 11:00am @ Goodyear Office Property Managers Roundtable 4:30pm - 6:30pm @ TBD Surprise Happy Hour

22 9:00am - 10:00am / Webinar West USA Weekly Podcast 10:00am - 11:00am @ Chandler Office East Valley Property Management Meet-Up

29 9:00am - 10:00am / Webinar West USA Weekly Podcast

23 10:00am - 11:00am @ Scottsdale Office Aligned Showings - ARMLS Class 10:00am - 12:00pm @ Chandler Office Inspection to Protection Lunch & Learn 10:00am - 1:00pm @ Surprise Office LIVE CE CLASS - ACW-AAR Mobile and Manufactured Home Contracts (3Hrs Contract Law) 10:00am - 1:00pm @ Goodyear Office Goodyear Quarterly Lunch & Learn

30

24

25

9:00am - 12:00pm / Zoom FREE REMOTE CE CLASS: Agency and Industry Related Issues (3Hrs Agency Law)

10:30am - 11:30am @ North PHX Office North Phoenix Office Meeting

10:00am - 11:00am @ Goodyear Office Coaches Meeting

1:00pm - 2:30pm @ Chandler Office Aligned Showings - ARMLS Class

11:30am - 1:00pm @ Scottsdale Office Commerical Transaction Pitfalls and Other Horror Stories 2:00pm - 3:00pm @ Goodyear Office Goodyear Monthly Transaction Coordinator Huddle 2:00pm - 4:00pm @ Scottsdale Office Probate, Power of Attorney, Deeds, and Trusts

31

9:00am - 12:00pm @ Chandler Office LIVE CE CLASS: Understanding the BINSR & Miscellaneous Forms: What You Need to Know (3Hrs Legal Issues) 10:30am - 11:30pm @ Mesa Office Mesa Office Meeting NEW LOCATION!

5:00pm - 6:30pm @ HUB Bar & Grill Mesa Happy Hour

SPONSORS

26

10:00am - 12:00pm @ Arrowhead Office Photo Day