WestWords - September 2020

WESTWORDS SEPTEMBER 2020

I AM

I AM CINTHYA RAUDALES I AM KNOWLEDGEABLE I AM CARING I AM WIN-WIN I AM PUNCTUAL I AM HONEST I AM WEST USA

HIGHLY RECOMMENDED

WHAT PEOPLE ARE SAYING I highly recommend Cinthya. She was very informative and helpful with the sale of our home. She maintained constant communication with my husband and I from beginning to end. She did a great job in promoting and advertising our home.

It was apparent from our first meeting with Cinthya that she is a professional and very familiar with real estate in Maricopa.

If you need an honest and personable real estate agent to sell your home or help you find a home. I highly recommend Cinthya. We are glad we chose her!

Cinthya was amazing during the home buying process for my husband and I. She is full of energy and gives her honest opinion on the properties. She is very responsive, quick to return email and phone calls and super fast at answering any questions. She really understands the local neighborhoods and knows what is important to each customer- so she knows the best houses to show you. I truly feel that she was a perfect fit for my husband and I. I would recommend her for anyone who needs an agent.

Cinthya consistently went above and beyond to help us navigate through this journey to our lovely new home. She was the one shining star in what could have otherwise been a disaster. Such a pleasure to know her! Thanks so much for your tireless dedication!

BROKER BLOG WITH BOB STEPHENS DON’T DO DAT Problems emerge at closing and here is one that has happened many times!

WRONG REFRIGERATOR- it was personal property included in the sale of the home, BUT, it has been changed out to a different one that is not acceptable to your buyer. Question 1- Did you snap a picture of the make, model, and serial number just inside the door AND an outside picture of the unit? NO? Well, in selling personal property, you need to be absolutely specific about what it is that you are including in this sale- line 56. Then keep the pictures in your file. If you ever have to go to a “Judge Judy” court, you can produce the pictures of the refrigerator. As the agent, are you liable for the costs of a refrigerator that satisfies your buyer? We may find out when the buyer complains to your Broker!

CLUE REPORT- Line 157, Seller shall deliver to buyer a written 5 year insurance claims history for the length of time seller has owned the premises from seller’s insurance company. Not available? Because owner never had insurance in the past 5 years? Then read line 159- if unavailable from these sources, FROM SELLER, within 5 days after contract acceptance. Sooo- Have the seller put this in writing to comply with this requirement of the contract!

A SAD MISTAKE!!!! Agent takes a $370,000 listing for 5% fee and enters it into MLS. Mistakenly enters 5% into the co-broke being offered. Gets an offer and goes to closing day before discovery is made of the mistake. Tells the OB about it and he rejects Listing agent’s explanation of a mistake. Entire commission is collected by the OB. (Other Broker) Another sad mistake not entirely under your control. BUYERS, that you have agreed to show new homes to, BUT, they start their search without you and go through new homes that interest them. SOLUTION is to meet with them ASAP and explain the “extra service” you offer to buyers at no cost to them. (I wrote an article regarding this for WestWords in March 2020 called EXTRA SERVICE FOR BUYERS.) It is called a Buyer-Broker Exclusive Employment Agreement. This is a meeting that takes about 30 minutes to accomplish as you explain the form to them and how the sellers pay your fees BUT NOT IF THEY GO WITHOUT YOU TO REPRESENT THEM! New Home builders will pay your fees but ONLY IF YOU ARE WITH THEM TO REGISTER THEM- THE FIRST TIME THEY GO TO LOOK AT THE BUILDER’S HOMES- NO EXCEPTIONS! Questions, contact: Managing Broker, Bob Stephens 602-942-4200

*BUYER-BROKER EXCLUSIVE EMPLOYMENT AGREEMENT You will have to explain that if the buyers see, hear or read about anything, they want information on, to call you with the query, so you can investigate the matter. Be sure your response is immediate! This will require answering your phone! Remember, you have been hired to do this work and you do not want other agents or lenders getting involved.

Urban Rent Slowdown May Signal Renters are Edging Toward the Suburbs By Zillow Research While the for-sale market has shaken off the early impact of the coronavirus pandemic and resumed its torrid prepandemic pace, rent growth hit the brakes this spring.

Rent prices in urban areas have slowed more than those in suburban areas, a possible signal that renters’ preferred location is tilting toward the suburbs.

Rents were chugging along at a stable pace into the early part of this year, but the spike in unemployment has hit renters more severely than homeowners, and millions have moved back in with parents or grandparents, impacting demand for rentals. That’s caused the rate of rent growth to slow from February to June.

During that period, rent price growth has slowed more in urban ZIP codes than in the suburbs — annual rent growth has slowed two percentage points in urban areas, compared to 1.4 percentage points in suburban areas. That is a subtle split, but it goes against the trend seen just before COVID-19 hit the U.S., indicating the shift was influenced by the pandemic. Contributing to this are urban renters who have lost their jobs, are missing rent payments or are moving home in greater numbers than their suburban counterparts, and suburban rentals may now be more appealing for renters who no longer need to commute or are temporarily unable to enjoy some of the amenities of urban living.

Renters usually have more flexibility than homeowners given their relatively short lease terms, and rent prices are often quicker to move as a result. Search traffic data does not yet show home shoppers are more interested in suburban homes than in past years, and both areas are seeing similar homevalue growth, time on market, sales above list price and rate of newly pending sales. Survey results, however, indicate working remotely is causing many to reconsider their options. If this early shift in the rental market is indicative of a more widespread change in preferences, similar changes to the for-sale market could follow, but the economic impact on urban renters may be playing a larger role.

It’s important to separate how much of the trend is coming from shifting tastes as opposed to the economic reality that renters face. It may be tempting to conclude that urban renters who have been cooped up without outdoor space and unable to visit their favorite local bar are ready to commit to suburban life, and that is likely true for many. But that narrative ignores the fact that urban areas have been affected by job loss more so than suburban and rural areas, particularly renters who are disproportionately employed in the industries most affected.

For more on this and other market trends, visit zillow.com/research.

* Survey results come from polling conducted by Zillow Group’s Behavioral Science and Population Science Teams. Data was collected by ZillowGroup using CloudResearch’s Prime Panels platform.

BREAKDOWN BY CITY METROPOLITAN AREA

YOY RENT GROWTH-URBAN AREAS (JUNE 2020)

SLOWDOWN SINCE FEB. IN URBAN AREAS (PERCENTAGE OF POINT DIFFERENCE)

YOY RENT GROWTH-SUBURBAN AREAS (JUNE 2020)

SLOWDOWN SINCE FEB. IN SUBURBAN AREAS (PERCENTAGE OF POINT DIFFERENCE)

DIFFERENCE IN SLOWDOWN BETWEEN URBAN AND SUBURBAN AREAS (PERCENTAGE POINT DIFFERENCE)

United States

1.60%

-2.00%

2.40%

-1.40%

-0.60%

New York, NY

0.10%

-3.80%

2.00%

-1.30%

-2.50%

Los Angeles-Anaheim, CA

1.20%

-2.50%

1.20%

-2.10%

-0.40%

Chicago, IL

1.40%

-1.30%

1.30%

-1.70%

0.40%

Dallas-Fort Worth, TX

0.00%

-3.70%

2.50%

-0.50%

-3.20%

Philadelphia, PA

2.20%

0.10%

1.80%

-1.10%

1.20%

Houston, TX

0.00%

-1.90%

0.40%

-0.90%

-1.00%

Washington, DC

-0.10%

-3.00%

1.00%

-1.80%

-1.30%

Miami-Fort Lauderdale, FL

1.80%

-0.90%

2.30%

-0.90%

0.00%

Atlanta, GA

-0.50%

-2.00%

4.20%

0.00%

-2.00%

San Francisco, CA

-2.20%

-3.90%

0.80%

-1.30%

-2.70%

Detroit, MI

4.40%

1.40%

2.00%

-0.80%

2.20%

Riverside, CA

4.90%

1.00%

3.80%

-0.80%

1.80%

Phoenix, AZ

6.30%

-3.20%

6.00%

-2.80

-0.40%

Seattle, WA

1.90%

-4.30%

2.00%

-3.40%

-1.00%

Minneapolis-St Paul, MN

2.30%

-1.50%

1.70%

-2.30%

0.70%

San Diego, CA

2.80%

-1.90%

1.50%

-2.20%

0.40%

St. Louis, MO

4.20%

0.80%

3.20%

-0.90%

1.70%

Tampa, FL

2.20%

-2.10%

3.70%

-0.90%

-1.20%

Baltimore, MD

1.40%

-0.20%

0.50%

-2.30%

2.10%

Denver, CO

0.50%

-3.30%

0.80%

-2.60%

-0.70%

Pittsburgh, PA

1.60%

-3.80%

-1.60%

-2.40%

-1.50%

Portland, OR

2.30%

-1.10%

2.60%

-1.90%

0.80%

Charlotte, NC

3.40%

-0.70%

3.00%

-1.60%

0.90%

Sacramento, CA

3.50%

-2.70%

3.80%

0.30%

-3.00%

San Antonio, TX

1.50%

-2.00%

1.90%

-1.30%

-0.70%

Orlando, FL

0.40%

-3.60%

1.50%

-2.40%

-1.20%

Cincinnati, OH

4.20%

-0.80%

3.00%

-1.80%

1.00%

Cleveland, OH

4.90%

1.70%

2.80%

0.10%

1.70%

Kansas City, MO

3.70%

1.20%

2.50%

-1.20%

2.40%

Las Vegas, NV

2.40%

-3.90%

2.00%

-3.40%

-0.40%

Columbus, OH

3.80%

0.20%

2.90%

0.10%

0.10%

Indianapolis, IN

5.40%

-1.00%

3.60%

-0.70%

-0.30%

San Jose, CA

-0.90%

-4.20%

-0.70%

-3.80%

-0.40%

Austin, TX

-0.10%

-3.20%

1.80%

-2.80%

-0.40%

Dallas, TX

The split between urban areas and the suburbs is largest in Dallas-Fort Worth, Sacramento, San Francisco and New York City.

Detroit, MI

Urban rent growth has been stronger than the suburbs in several metros, led by Kansas City, Detroit, Baltimore and Riverside.

TODD MENARD’S

REAL ESTATE MARKET STATS

YOUR DONATIONS

AT WORK When you donate to West USA Cares through your A100’s, you are helping your family of Realtors when they need it the most. Your donations are not just a dollar amount; they are peace of mind, they remove stress and they can help a family sigh in relief that tomorrow will be better.

We could not provide this to our agents without all your donations each month.

We thank you with all our hearts but most of all, the agents who are receiving assistance thank you even more!

MESSAGE FROM THE

PRESIDENT Instead of singling one employee out for the September Employee of the Month, West USA Realty would like to give a big heartfelt thank you to our fantastic team.

These men and women come to work every day with the single goal of helping our family of agents. We are incredibly grateful for their positive attitudes and hard work.

CLINT FOUTS President & CEO

Please join us in saying THANK YOU to these amazing people!

M O N DAY

T U E S DAY Ahwatukee Office Meeting 10:00am - 11:00am / Zoom

W E D N E S DAY

01

Virtual Kierland Office Meeting 10:00am - 11:30am / Zoom

02

Real Estate Fortunes w/ Michael Douville 10:00am - 10:30am / Webinar

07

ALL OFFICES CLOSED - Labor Day

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

08

Real Estate Fortunes w/ Michael Douville 10:00am - 10:30am / Webinar

FREE REMOTE CE CLASS Disclosure & the Law 3Hrs Disclosure Law 9:00am - 12:00pm / Zoom

09

T H U R S DAY

F R I DAY

03

04

10

11

17

18

24

25

Facebook Basics for Real Estate Professionals w/ Keith Flynn 10:00am - 11:30am / Webinar

ProStart Session 1 9:00am - 4:00pm / Zoom Canva Basics for Real Estate Professionals w/ Keith Flynn 10:00am - 11:30am / Webinar

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

West USA Agent Orientation 10:45am - 12:30pm / Webinar

SEPTEMBER 2020

Virtual Goodyear Office Meeting 10:00am - 11:00am / Zoom

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

14

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

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

15

Real Estate Fortunes w/ Michael Douville 10:00am - 10:30am / Webinar

21

ProStart Session 3 9:00am - 4:00pm / Zoom

22

Real Estate Fortunes w/ Michael Douville 10:00am - 10:30am / Webinar

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

Dominate Your Local Farm with Local Facebook Groups w/ Keith Flynn 10:00am - 11:30am / Webinar

Chandler Office Meeting 10:00am - 11:30am West USA Chandler

Don’t Do Dat w/Broker Bob Stephens 1:00pm - 1:30pm / Webinar

ProStart Session 3 9:00am - 4:00pm / Zoom

16

FREE REMOTE CE CLASS To Be Or Not To Be Paid, That Is The Question - 3Hrs Contract Law 9:00am - 12:00pm / Zoom

23

FREE REMOTE CE CLASS Secrets To Unprecedented Growth and Referrals - 3Hrs Legal Issues 9:00am - 12:45pm / Zoom

Instagram for Real Estate Professionals - Intermediate w/ Keith Flynn 10:00am - 11:30am / Webinar

Don’t Do Dat w/Broker Bob Stephens 1:00pm - 1:30pm / Webinar

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

29 Real Estate Fortunes w/ Michael Douville 10:00am - 10:30am / Webinar

Don’t Do Dat w/Broker Bob Stephens 1:00pm - 1:30pm / Webinar

• CE- Continuing Education Renewal Training • Luxury Division Event

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

• Commercial Division Event • Office Meetings

SPONSORS

• Education Events • REACT

• Holiday Hours • Social Mixers / Events