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FEBRUARY | TWO THOUSAND-FIFTEEN DMAREALTORS.COM
DENVERMETROREALTOR®Official Publication of the Denver Metro Association of REALTORS®
From the Polls to the Courts: DMAR’s February Government Guide
DENVER METROASSOCIATION OF REALTORS®
the
Chairman Greg Geller | Vision Real Estate303-302-3622 [email protected]
Chair-elect Laura Ruch | Keller Williams Preferred 303-452-3300 [email protected]
Secretary Maria Vitale | RE/MAX Alliance303-420-5352 [email protected]
Past Chairman Eric Mott | Innovative Real Estate720-530-5000 [email protected]
Director Milford Adams | Lyon Realty LLC303-369-0529 [email protected]
Director Tammy Deitz | RE/MAX 100 303-232-4444 [email protected]
Director Karen Frisone | K.O. Real Estate303-422-3888 [email protected]
Director Euan Graham | Madison & Company Properties Ltd303-771-3850 [email protected]
Director Scott Grossman RE/MAX Southeast, Inc.303-941-9426 [email protected]
Director Libby Levinson | Kentwood Real Estate303-331-1400 [email protected]
Director Michael Miller | Realty Plus Mortgage720-308-4922 [email protected]
Director Scott Nordby | Innovative Real Estate Group303-289-7009 [email protected]
Director Jason Peck | Keller Williams Realty Downtown720-588-3110 [email protected]
Director Shannel Ryan | Fuller Sotheby’s International303-893-3200 [email protected]
Director Phil Shell | RE/MAX Alliance303-420-5352 [email protected]
Director Gil Vazquez | Keller Williams Realty Colorado Association of Hispanic Real Estate Professionals303-539-5700 [email protected]
Gary Bauer | Garold D. Bauer 303-909-3001 [email protected]
Justin Knoll | The Knoll Team Madison and Company Properties 303-550-0096 [email protected]
Ted Bryant | Metro Brokers Bryant Inc.303-988-0900 [email protected]
Janet Scavo | Brokers Guild Cherry Creek 303-988-0123 [email protected]
Greg Zadel | Zadel and Associates Realty Inc.303-833-3012 [email protected]
Piper Bruner | The Knoll Team Madison and Company Properties 720-935-0895 [email protected]
Derek Camunez | RE/MAX Avenues 303-477-1000 [email protected]
Chris Djorup | Metro Brokers Djorup & Associates 303-740-8100 [email protected]
Karen Levine | RE/MAX Alliance303-420-5352 [email protected]
Chad Ochsner | Re/Max Alliance303-420-5352 [email protected]
Gerry Fitzpatrick | RE/MAX Southeast 303-743-9306 [email protected]
Justin Knoll | The Knoll Team Madison and Company Properties 303-550-0096 [email protected]
Jon Larrance | Perry and Company 303-399-7777 [email protected]
Mark Trenka | Trenka Real Estate 303-629-1000 [email protected]
Mike Welk | Innovative Real Estate CAR Metro District VP/Metrolist® Director303-263-3217 [email protected]
Chairman Michael Miller | Realty Plus Mortgage720-308-4922 [email protected]
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2014 - 2015 Board of Directors
NAR Directors CAR Directors
Metrolist Directors
Affiliate Council
CHAIRMAN’S MESSAGE 4EXCLUSIVE: LOCAL INSIGHT | DMAR NORTH DISTRICT 62015 DENVER METRO REALTORS® EXCELLENCE AWARDS 7SAVE THE DATE: DMAR LEGAL PANEL 8HOME STAGING CAN HELP SELL HOME FOR MORE, REALTORS® SAY 10
DMAR URGES LITTLETON CITIZENS VOTE NO ON INITIATIVE 300, YES ON 2A 12DENVER-AREA DEFLATION DUE TO HOUSING SHORTAGES, HIGH DEMAND 13AFFILIATE FOCUS | 8 WAYS TO MAKE A MARKETING MEETING INDISPENSABLE FOR REALTORS® 16NAR 2014 RESEARCH | BUYERS & SELLERS 18
GOVERNMENT AFFAIRS DIVISION CAR UPDATE 20MARKET INFLUENCERS |HOW WILL OIL PRICE DROP AFFECT HOUSING? 23
ContentsIn This Issue
Advertiser DirectoryBank of America 19Blue Ribbon Home Warranty 22Bridge Capital Resources 14Brookfield Homes 17Caliber Home Loans 17
Colorado’s Best Home Inspection 22Eagle Home Mortgage 11Exodus Moving & Storage 2First Integrity Title 11GJ Gardner Homes 22
IRES 14Nova Home Loans 24Peoples Bank 9Pillar to Post 5
Director of Member Services and OperationsCindy GoinsDirector of Events and EducationChantel BabbGovernment Affairs LaisonPeter Wall
Membership ManagerJo Ann Lujan Marketing Communications Manager Diana Barsan Member Services RepresentativeIngrid Martinez
Education & Events CoordinatorStephanie FavroSocial Media & Content CoordinatorMeghan Callahan Finance and Membership AssistantKeisha Datuin
Central ReceptionistKaren HendersonEducation and Event AssistantJoyce FledderjohnMember Services & Operations AssistantTracy Garippo
Staff
Three Convenient Locations! REALTOR® Store | Classes | Pay Dues | Wi-FiVisit us online at www.dmarealtors.com.Contact any location by phone at 303-756-0553
Central4300 E. Warren Ave, DenverMonday - Friday 8-5
West950 Wadsworth Blvd, LakewoodMonday - Friday 9-2
North13648 Orchard Pkwy #900, WestminsterMonday - Friday 9-2
MA
PM
AP
MA
P
Chief Executive OfficerAnn TurnerDirector of Finance and MembershipAmy Davies
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE THREE
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE FOUR
Chairman’s Message
Greg GellerChairman
2014-15
Mission Impossible
Boom. Your buyers are ticking away out there and your mission, if you choose to accept it, is to disarm them before they explode at closing. Discussing and disclosing who pays the buyer agent fee and how much it is before the first house is shown will disarm the fee bomb which is ticking louder as closing approaches.
Buyers are family. Buyers are friends and neighbors. Buyers are the people who know you, like you and trust you. Buyer agency agreements do not generate warmth and trust so we often let them wait until a house is found or put under contract. Buyers don’t get the opportunity to learn what the expected duties are and how their Realtor is being paid. Sellers are clearer because while we take buyers out, we do not list houses without them. Signs and lockboxes and brochures cost money; calling for lockbox combina-tions and MLS searching do not. If the buyer agency was discussed first, the
world would be a better place.
When fees haven’t been discussed, a buyer may not know how it all works; especially if that buyer was told that the seller pays all of the fees. Buyers do not necessarily see settlement state-ments for sellers which lists the fees for both agents. It’s easy to forget that sellers pay listing agents who in turn pay the buyer’s agent. The fee agree-ment is with the selling agent, not the seller.
Traditions in clandestine commis-sions begin the first day of real estate school when the first lesson warns Realtors to never, ever, ever, never, ever discuss fees with anyone, ever. Threats of arrest and detainment by the Anti-trust police have us treating the topic like its treason and punishable by hanging. We leave real estate school and Realtor orientation knowing two things: get signed Lead Based Paint Disclosures, and never, ever, ever, ever, never talk about your fees with anyone for any reason ever. Ever. It’s not the same, but the culture of secrecy and fees is not easy to limit to the theoreti-cal. However the instinct to protect this sensitive information should not apply to your relationship with your buyer.
We might even allay our guilt enabling us to give smaller fruit baskets. Eventually, a buyer will ask at closing how much their agent made. Sheepishly, the agent will slide the absurdly sized fruit, wine, cheese and novelty items fruit basket over the buyer without answering. Awkward moment ensues and “closing small
talk” resumes. Nothing can ruin a great closing more than a buyer stabbing a Realtor in the hand with a title com-pany pen.
Realtor work is hard. Delivering homeownership is a grind and is expected to be mistake-free. Inventory drought has the buyer agent work-ing even harder with longer hours. Treating fees like a dirty secret with buyers only prolongs the inevitable discussion that can’t wait until the closing table. It’s ok to earn a living selling real estate. I promise. As the sun rises in the east and sets in the west and the birds always fly south for the winter, the public will always need help from Realtors when buying or selling as long as the process is easy to understand. Buyer’s agents do not need to live looking over their shoulders like they are in the witness protection program. Discuss, disclose and disarm. It’s just easier.
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Exclusive: Local Insight | DMAR North District
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE SIX
DMAR North District presents the second of our LOCAL Insight events, featuring Mayor Joyce Downing of Northglenn, Mayor Heidi Williams of Thornton, Mayor Dick McLean of Brighton, and Mayor Herb Atchison of Westminster. The presenta-tion will include each Mayor giving an update for each city represented. After the presentation there will be a question-and-answer session.
WHAT: North District Mayors’ Panel
WHEN: Tuesday | February 24, 2015 | 10:00am – 11:30am
WHERE: Keystone Place at Legacy Ridge| 11180 Irving Drive, Westminster, CO 80031
WHY: Learn what’s happening in the North District from the mayors themselves, and get the chance to ask them any questions you may have. You’ll discover what issues impacted communities in 2014, and hear what the mayors anticipate from the year ahead.
Our last LOCAL Insight in the West District was a packed house, so be sure you register early to attend this FREE event.
Special thanks to our sponsor, First American Title™, for their generous support.
2015 Denver Metro REALTORS® Excellence Awards
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE SEVEN
Though you may recognize the Excellence Awards by their former name (the “Roundtable”), this is the same fantastic event you remember with a little makeover. Because DMAR is focusing on continual improvement and transformation to better serve our members, we wanted our premier real estate event to have a name that matches our new look.
The DENVER METRO REALTORS® Excellence Awards celebrate and honor those whose ambitions elevate the industry and redefine success. Don’t miss out on the largest REALTOR® award event in Colorado!
Exciting Speaker: We are happy to introduce Terry Watson as our emcee in 2015.Terry Watson is the “AHA guy,” who makes people, companies and organizations large and small aware of the conscious and unconscious ways they sabotage their businesses and their lives. Terry provides ridiculously effective and easily implementable strategies. In short, Terry gives the tools people need to get out of their own way while making them laugh till they snort in the process.
WHAT: The DENVER METRO REALTORS® Excellence Awards are part of a dynamic space where greatness meets to inspire future generations of passionate REALTORS® and galvanize excellence in industry standards.
WHEN: Wednesday, April 1, 2015 | 11:00 AM -2:00 PM
WHERE: Westin Hotel | 10600 Westminster Boulevard Westminster, CO 80020
WHY: This is the summit of real estate achievement in the Denver Metro area. It’s a vibrant forum where REALTORS® can connect, engage, and inspire one another. Honor the excel-lence of your peers, celebrate your own achievements, and experience vibrant networking among real estate champions.
Another exciting change to the Awards: all of our application materi-als are online this year. For your con-venience, you can submit them right on our webpage. Deadline is February 19, 2015. Click on the banner below to apply.
Not applying this year? That doesn’t mean you have to miss out on the event & the amazing opportunity to network with top REALTORS®! You can purchase Event Only tickets by clicking the banner below.
DENVER METROASSOCIATION OF REALTORS®
Save the Date: DMAR Legal Panel | Feb. 26
Ever been part of a closing where documents are more messed up than a fumbled snap on the first play of the Super Bowl?
At Peoples Bank Mortgage in Denver, count on a quality closing experience. All of our docs are processed in-house.
As a family owned, community bank, our formula for success is pretty simple: Know mortgages, do them in-house and treat people right.
Stop having your closings look like a busted play. Move to Peoples.
An out-of-this-world mortgage experience, right here in Denver.
epeoples.com | 303-721-1120
D E N V E R
closing docs wrong or late again?
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PBColo-mortgage14-final.indd 1 4/11/14 10:20 AM
The DMAR Legal Panel is a chance to get all your pressing legal questions on real estate answered. With three experts with real estate experience and prestigious history in the law, this event is sure to be helpful and informative for all professionals.
WHAT: DMAR Legal Panel
WHEN: Thursday | February 26, 2015 | 9:00am – 1:00pm
WHERE: Noah’s Event Center | 11885 Bradburn Boulevard, Westminster, CO 80031
WHY: Get informed on the latest legal issues facing the real estate industry, featuring experts Jordan May, Ken Levinson, and Scott Peterson.
Jordan C. May is an associate with Frascona, Joiner, Goodman and Greenstein, P.C., a Colorado law firm. He earned his J.D. from the Strum School of Law at the University of Denver. Jordan’s many practice areas include litigation and real estate. For more information, see his complete profile at Frascona.
Ken Levinson joined Balban, Levinson and Costigan back in 1979, when it was known as Balaban & Lutz. His practice emphasizes the defense of malpractice cases involving profes-sionals in the insurance and real estate industries. Mr. Levinson has significant experience representing businesses, insurance carriers, homeowners associa-tions, banks and credit unions, as well as numerous individual clients in all types of matters. He is currently a member of the forms committee of the Colorado Real Estate Commission. Mr. Levinson has participated in numerous media-tions and arbitrations. He has been listed in Who’s Who in America, Who’s Who in American Law and Who’s Who in the West, and holds the prestigious AV® Preeminent™ rating from Martindale-Hubbell.
Scott A. Peterson is an experienced real estate and business professional with an extensive background repre-senting clients on a broad range of matters. He is licensed as an attorney in both Colorado and California and main-tains an active law practice, Counsel Law Group, LLC, representing individu-als and businesses in real estate, busi-ness and estate planning transactions. In addition, Scott is a licensed Colorado real estate broker and through his real estate company, Counsel Realty Group, LLC, he represents clients as a broker in the leasing and sale of commercial real estate. He also served as the President of the Denver Metropolitan Commercial Association of REALTORS® (DMCAR), one of the oldest and largest commercial real estate trade associations in the United States. In addition, Scott sits on the Colorado Association of REALTORS® (CAR) Legislative Policy Committee which actively lobbies the state legis-lature on matters related to real estate, taxation, land use, water rights and business affairs throughout Colorado. Scott, his wife Amy, and their three chil-dren live in the Highland neighborhood of Northwest Denver. They spend their free time on a ski hill or at a swimming pool watching their kids compete.
Special thanks to our sponsor, Exodus Moving Storage, for making this event possible.
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE EIGHT
Ever been part of a closing where documents are more messed up than a fumbled snap on the first play of the Super Bowl?
At Peoples Bank Mortgage in Denver, count on a quality closing experience. All of our docs are processed in-house.
As a family owned, community bank, our formula for success is pretty simple: Know mortgages, do them in-house and treat people right.
Stop having your closings look like a busted play. Move to Peoples.
An out-of-this-world mortgage experience, right here in Denver.
epeoples.com | 303-721-1120
D E N V E R
closing docs wrong or late again?
time to move to peoples.
PBColo-mortgage14-final.indd 1 4/11/14 10:20 AM
Most homeowners know it is impor-tant to keep a home clean, bright and free from clutter while it is on the market for sale. But sometimes, Realtors® say, taking the extra step to stage a home can make a difference in how a buyer values it and the price a seller might get for it, according to the National Association of REALTORS® 2015 Profile of Home Staging.
“REALTORS® know how important it is to have a home in the best shape possible when showing it to prospec-tive buyers,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Arkansas. “At a minimum, homeowners should conduct a thorough cleaning, haul out clutter, make sure the home is well-lit and fix any major aesthetic issues. Another option is staging a home, which REALTORS® often suggest to sellers to help prospective buyers better visualize themselves in the home and could modestly increase the home’s value for both the buyer and seller.”
The report, the first of its kind from NAR, found that 49 percent of surveyed REALTORS® who work with buyers believe staging usually has an effect on the buyer’s view of the home. Another 47 percent believe that stag-ing only sometimes has an impact on a buyer’s view of the home only. Only 4 percent of REALTORS® said staging has no impact on buyer perceptions.
REALTORS® on the buyer side believe that staging makes an impact in several ways; 81 percent said staging helps buyers visualize the property as a future home, while 46 percent said it makes prospective buyers more will-ing to walk through a home they saw online. Forty-five percent said a home decorated to a buyer’s tastes positively impacts its value; however, 10 percent of REALTORS® said a home decorated against a buyer’s tastes could nega-
tively impact the home’s value.
From the seller side, a majority of REALTORS® utilize staging as a tool in at least some instances. Just over a third of REALTORS® (34 percent) utilize staging on all homes, while 13 percent tend to stage only those homes dif-ficult to sell, and another 4 percent will do so only for higher priced homes. The median cost spent on staging a home is $675. Sixty-two percent of REALTORS® representing sellers say they offer home staging service to sellers, while 39 percent say the seller pays before listing the home.
REALTORS® representing both the buyer and seller agreed on two major points in the report—which rooms should be staged and the change in dollar value a buyer is willing to offer for a staged home compared to a similar not-staged home. REALTORS® ranked the living room as the number one room to stage, followed by a kitchen. Rounding out the top five rooms were the master bedroom, din-ing room and the bathroom.
REALTORS® believe that buyers most often offer a 1 to 5 percent increase on the value of a staged home (37 percent from Realtors® representing sellers and 32 percent from REALTORS® represent-ing buyers). Additionally, 22 percent of REALTORS® representing sellers and 16 percent of REALTORS® representing buyers said the increase is closer to 6 to 10 percent.
“Working with a REALTORS® gives buyers, sellers and investors the advantage they need to succeed in today’s market, as they know what buyers want and how to best market and stage a home for sale,” Polychron said. “While many factors play into what a home is worth and what buyers are willing to pay for it, staging is an excellent tool that can be used to give a home a little extra push for sellers.
Staging isn’t used by every REALTORS® in every situation, but the impact it may have and the value it can bring is clear to both home buyers and sellers.”
The National Association of REALTORS,® “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
“Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.”
Home Staging Can Help Sell Home for More, Realtors® Say
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE TEN
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DENVER METROASSOCIATION OF REALTORS®
DMAR Urges Littleton Citizens Vote NO on Initiative 300, YES on 2A
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE TWELVE
VOTE NO on 300Several months ago, a small group of Littleton citizens submitted petitions for
a ballot measure that calls into question the use of Urban Renewal Areas (URA) and tools such as Tax Increment Financing (TIF) to aid in the City’s revitalization process. If passed, Initiative 300 would require the City of Littleton to go to a spe-cial election of their registered electors to approve any decision dealing with tax increment financing, revenue/cost sharing, condemnation and eminent domain.
To put it plainly, this measure would significantly impact future development while costing the City upwards of $35,000 for every special election. By requiring elections for all urban renewal matters, Initiative 300 would add time, risk and unpredictability to the community investment process.
For this reason, DMAR’s Board of Directors voted unanimously to oppose Initiative 300. DMAR is supporting the Littleton Strong Campaign, a coalition of business owners, former elected officials, volunteers on community boards, friends and neighbors who are concerned about the detrimental impact Initiative 300 will have on their community.
VOTE YES on 2ADMAR urges its members to support Referendum 2A which, if approved, would
prohibit the use of eminent domain and condemnation without a property owner’s consent.
This initiative strengthens protections for Littleton citizens without stripping the City’s ability to use important economic development tools. If passed, 2A would provide Littleton property owners with the strongest property protections for urban renewal in Colorado.
For more information, please contact Peter Wall – DMAR’s Government Affairs Director at 303-880-7405 or [email protected].
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE THIRTEEN
continued on page 15
Denver-Area Deflation Due to Housing Shortages, High Demand
In January the market in Denver expe-rienced a little deflation due to eager buyers and a lack of available properties for sale. With mortgage rates hovering in the 3.5% range, both first-time buyers and boomerang buyers are eager to hit the market. Their desire to buy is reflected in their confidence ranking, up to 102.9 from 93.1 in December. This is the highest consumer confidence has been since August 2007.
Active listings in the residential market (single family and condos) decreased slightly 4.23% in January. The number of sold listings decreased 42.74% compared to the previous month. Said Anthony Rael, Chair of the Denver Metro Association of REALTORS® Market Trends Committee:
“There’s no need to panic because January is traditionally a slower market.”
Sellers already know there is no rea-son to panic, because price appreciation is looking good. Year over year average sales are up 11.22% and median sales prices are up 16.55% for single family homes. The condo market remained strong, with relatively unchanged average and median sale prices since December. Year over year, condo sales prices showed double-digit gains. The only downside of this price apprecia-
tion? The lack of available homes.
“…[sellers]…are also feeling a bit of shock and awe as they seek a replace-ment property.”
Rael explained, citing the scarcity of homes available for sale as one of the reasons sellers might struggle to find their next property. Low inventory could be a new norm for the next year to 18 months. Rael advised DMAR members on how to cope with this change:
“…the greatest opportunity in 2015 for DMAR members will be proactively and aggressively ramping up their marketing campaigns to increase the number of homes available for sale and continuing to educate consumers on the value of homeownership.”
Understandably with this rise in scarcity, there has been a large increase in foot traffic at open houses and an increase in showing activity. That means multiple offers and raising prices for the foreseeable future. But the Market Trends Committee encourages sellers to set realistic expectations when pricing, so that their showings and open houses will yield offers instead of just interest.
Buyers, on the other hand, should be prepared to remain diligent and patient. It is important not to hesitate in a mar-
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NAR is The Voice for Real Estate®
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DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE FIFTEEN
ket like this. Similarly, buyers need to consider what they ask for in inspection objection. With so many interested par-ties, sellers might let deals fall through and re-list a property rather than deal with the hassle.
By the numbers, the inventory of available homes for sale was 4,171 at January’s month end. 3,676 properties came onto the market, 3,502 properties were placed under contract, and 2,328 properties closed at a median sold price of $285,000 and an average sold price of $332,767.
The report also includes statistics and analyses in its supplemental “Luxury Market Report” (properties sold for $1
million or greater), “Signature Market Report” (properties sold between $750,000 and $999,999) and “Premier Market Report” (properties sold between $500,000 and $749,999). Notably, sales of homes in the Signature Market are up 16.95 percent since 2013, and sales of homes in the Luxury Market are up 14.81% since 2013.
Despite the scarcity now, 2015 is shap-ing up to be a prime time for new home construction. Even though it could take ten months to build a home, buyers with property are relieved to have reserved their future home-site. To view the Denver Metro Market Report, please click here.
Follow the latest updates from the Denver Metro Association of REALTORS® on Twitter , Facebook and Google+, + Join the conversation at #DMARSTATS.
The DMAR Market Trends Committee releases reports monthly, highlighting important trends and market activity emerging across the Denver Metro area. Reports include data for Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties. Data for the report was sourced from REcolorado® (December 2, 2014) and interpreted by DMAR.
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Denver-Area Deflation Due to Housing Shortages, High Demand continued from page 13 DENVER METRO
ASSOCIATION OF REALTORS®
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.
Do you attend marketing meetings regularly? Are you loyal to only one? Either way, there are certain components that will attract more REALTORS®. Finding or crafting the right marketing meeting for you can be time-consuming if you’re not sure what to look for – or what to expect. That’s why we’ve gathered a list of ideas to incorporate into any market-ing meeting.
1. Keep it consistent.
The easiest way to ensure consis-tency is to create an agenda that never changes. Give an outline of what to expect in every single meeting, so that the attendees can know what’s coming. A good agenda should include who is leading each discussion, what will be discussed, and how much time is allotted for each discussion.
If your marketing meeting struggles with this, adding a moderator can be a valuable way to keep track of time. Finally, remember to keep going to the same meetings! Sporadic attendance or traveling to every single marketing meet-ing location will not be as effective.
2. Disseminate relevant informationPublic service announcements should
be among the first items of discussion. Announcements should be about a sig-nificant change, need-to-know informa-tion or industry news that is pertinent to real estate. This portion should be open to both REALTORS® and Affiliates.
3. Add traditions.
Traditions have their place in busi-ness–even silly ones–because they are a way to bond a group together. Besides, it’s kind of fun to say the pledge of allegiance or blow a horn to convene the meeting. If that isn’t your style, you can always participate by taking the chance to…
4. …become a breakfast sponsor!Providing breakfast or a snack is a
great and inexpensive way to increase visibility. Allow the attendees to eat and engage in the meeting, and then towards the end have a designated time for the sponsor of the week to give a short presentation about their business. With food and coffee at hand, the other attendees are more likely to listen and appreciate what a sponsor has to say.
5. Share positive stories and successes.
Having an attitude of gratitude is so important in all areas of life. Put a short period of time on the agenda to allow all DMAR Members to celebrate their recent success stories. Whether an Affiliate has finished a difficult title insurance issue or a REALTOR® has made a sale, it is worth sharing!
6. Give REALTORS® time to announce buyer needs.
Despite modern listing technology, asking REALTORS® to discuss their buyer’s needs is still an effective way to find that perfect property. It’s also a great way for Affiliates to get a business referral.
7. Time to share new and old listings
This is yet another REALTOR®-geared section that can be beneficial for all marketing meeting attendees. A good portion of listings could use a little help to finally sell, whether that’s window-cleaning or landscaping. The possibilities of new business for Affiliates are endless in this section.
8. Inspiration
We can always use a little inspiration or words of wisdom for the day. Be sure to keep this segment consistent and brief–perhaps a favorite quote from the most recent DMAR Magazine, or a guiding principle to think about during the week ahead, such as perseverance.
We hope that incorporating these ideas into your marketing meeting leads to a higher rate of REALTOR® attendance, and encourages your Affiliate friends to take a more active part as well. Remember: REALTORS®’ interests are the same as yours: you both want to improve your business, and you both want to spend time at a meeting that is helpful, valuable and fun.
Affiliate Focus | 8 Ways to Make a Marketing Meeting Indispensable for REALTORS®
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE SIXTEEN
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NAR 2014 Research | Buyers & Sellers
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE EIGHTEEN
DENVER METROASSOCIATION OF REALTORS®
To sum up 2014, NAR released a compilation of research on buyers and sell-ers across the US. Here are some of the highlights from the 2014 report.
• The typical first-time buyer was 31 years old.
• The typical repeat buyer was 53.
• 33% of recent home buyers were first-time buyers.
• The typical home purchased was 1,870 square feet in size, was built in 1993, and had three bedrooms and two bathrooms.
• 79% of home buyers purchased a detached single-family home.
• 92% of buyers used the internet in some-way in their home search process and 50% of buyers used a mobile website or application.
• Real estate agents were viewed as a use-ful information source by 98% of buyers who used an agent while searching for a home
• 88% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
• 40% of home sellers traded up to a larger sized home, 47% purchased a more expensive home, and 53 percent purchased a newer home.
• For-Sale-By-Owner (FSBO) homes typi-cally have a lower median selling price:
$208,700 compared to $235,000. Thus, the typical agent-assisted home sale typically has a 13% higher sales price than the typi-cal FSBO sale.
For more information, you can purchase and download the full NAR report here, or access a Powerpoint presentation of the information for free.
Exceptional real estate professionals deserve exceptional service.
Beth AndersonSales ManagerNMLS ID: 501302303.550.5924
Todd OlsonSales ManagerNMLS ID: 514815303.663.8012
Glenna MaltbySr. Mortgage Loan OfficerNMLS ID: 514803303.667.4004
Peter RodriguezMortgage Loan OfficerNMLS ID: 514816303.495.8824
Pam Martin-McGargillMortgage Loan OfficerNMLS ID: 514802720.529.6315
Jo SchofieldMortgage Loan OfficerNMLS ID: 501290303.916.9342
Ryan LovellMortgage Loan OfficerNMLS ID: 561458720.529.6337
Dorothy HolderMortgage Loan OfficerNMLS ID: 501300720.529.6330
Ross BarrettSales ManagerNMLS ID: 514794720.529.6343
THIS INFORMATION IS NOT INTENDED OR AUTHORIZED FOR CONSUMER DISTRIBUTION. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Bank of America, N.A., Member FDIC. Equal Housing Lender. ©2009 Bank of America Corporation. 00-62-0197D 02-2012 ARP632D5
With a wide range of home loan programs and a commitment to customer service, Bank of America can help you reach out to more potential homebuyers.
Contact us today to find out how we can help more of your clients get the home financing that’s right for them.
Exceptional real estate professionals deserve exceptional service.
Beth AndersonSales ManagerNMLS ID: 501302303.550.5924
Todd OlsonSales ManagerNMLS ID: 514815303.663.8012
Glenna MaltbySr. Mortgage Loan OfficerNMLS ID: 514803303.667.4004
Peter RodriguezMortgage Loan OfficerNMLS ID: 514816303.495.8824
Pam Martin-McGargillMortgage Loan OfficerNMLS ID: 514802720.529.6315
Jo SchofieldMortgage Loan OfficerNMLS ID: 501290303.916.9342
Ryan LovellMortgage Loan OfficerNMLS ID: 561458720.529.6337
Dorothy HolderMortgage Loan OfficerNMLS ID: 501300720.529.6330
Ross BarrettSales ManagerNMLS ID: 514794720.529.6343
THIS INFORMATION IS NOT INTENDED OR AUTHORIZED FOR CONSUMER DISTRIBUTION. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Bank of America, N.A., Member FDIC. Equal Housing Lender. ©2009 Bank of America Corporation. 00-62-0197D 02-2012 ARP632D5
With a wide range of home loan programs and a commitment to customer service, Bank of America can help you reach out to more potential homebuyers.
Contact us today to find out how we can help more of your clients get the home financing that’s right for them.
Exceptional real estate professionals deserve exceptional service.
Beth AndersonSales ManagerNMLS ID: 501302303.550.5924
Todd OlsonSales ManagerNMLS ID: 514815303.663.8012
Glenna MaltbySr. Mortgage Loan OfficerNMLS ID: 514803303.667.4004
Peter RodriguezMortgage Loan OfficerNMLS ID: 514816303.495.8824
Pam Martin-McGargillMortgage Loan OfficerNMLS ID: 514802720.529.6315
Jo SchofieldMortgage Loan OfficerNMLS ID: 501290303.916.9342
Ryan LovellMortgage Loan OfficerNMLS ID: 561458720.529.6337
Dorothy HolderMortgage Loan OfficerNMLS ID: 501300720.529.6330
Ross BarrettSales ManagerNMLS ID: 514794720.529.6343
THIS INFORMATION IS NOT INTENDED OR AUTHORIZED FOR CONSUMER DISTRIBUTION. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Bank of America, N.A., Member FDIC. Equal Housing Lender. ©2009 Bank of America Corporation. 00-62-0197D 02-2012 ARP632D5
With a wide range of home loan programs and a commitment to customer service, Bank of America can help you reach out to more potential homebuyers.
Contact us today to find out how we can help more of your clients get the home financing that’s right for them.
Exceptional real estate professionals deserve exceptional service.
Beth AndersonSales ManagerNMLS ID: 501302303.550.5924
Todd OlsonSales ManagerNMLS ID: 514815303.663.8012
Glenna MaltbySr. Mortgage Loan OfficerNMLS ID: 514803303.667.4004
Peter RodriguezMortgage Loan OfficerNMLS ID: 514816303.495.8824
Pam Martin-McGargillMortgage Loan OfficerNMLS ID: 514802720.529.6315
Jo SchofieldMortgage Loan OfficerNMLS ID: 501290303.916.9342
Ryan LovellMortgage Loan OfficerNMLS ID: 561458720.529.6337
Dorothy HolderMortgage Loan OfficerNMLS ID: 501300720.529.6330
Ross BarrettSales ManagerNMLS ID: 514794720.529.6343
THIS INFORMATION IS NOT INTENDED OR AUTHORIZED FOR CONSUMER DISTRIBUTION. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Bank of America, N.A., Member FDIC. Equal Housing Lender. ©2009 Bank of America Corporation. 00-62-0197D 02-2012 ARP632D5
With a wide range of home loan programs and a commitment to customer service, Bank of America can help you reach out to more potential homebuyers.
Contact us today to find out how we can help more of your clients get the home financing that’s right for them.
Exceptional real estate professionals deserve exceptional service.
Beth AndersonSales ManagerNMLS ID: 501302303.550.5924
Todd OlsonSales ManagerNMLS ID: 514815303.663.8012
Glenna MaltbySr. Mortgage Loan OfficerNMLS ID: 514803303.667.4004
Peter RodriguezMortgage Loan OfficerNMLS ID: 514816303.495.8824
Pam Martin-McGargillMortgage Loan OfficerNMLS ID: 514802720.529.6315
Jo SchofieldMortgage Loan OfficerNMLS ID: 501290303.916.9342
Ryan LovellMortgage Loan OfficerNMLS ID: 561458720.529.6337
Dorothy HolderMortgage Loan OfficerNMLS ID: 501300720.529.6330
Ross BarrettSales ManagerNMLS ID: 514794720.529.6343
THIS INFORMATION IS NOT INTENDED OR AUTHORIZED FOR CONSUMER DISTRIBUTION. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Bank of America, N.A., Member FDIC. Equal Housing Lender. ©2009 Bank of America Corporation. 00-62-0197D 02-2012 ARP632D5
With a wide range of home loan programs and a commitment to customer service, Bank of America can help you reach out to more potential homebuyers.
Contact us today to find out how we can help more of your clients get the home financing that’s right for them.
Beth AndersonSales ManagerNMLS ID: 501302303.550.5924
Peter RodriguezMortgage Loan OfficerNMLS ID: 514816303.495.8824
Todd OlsonSales ManagerNMLS ID: 514815303.663.8012
Ryan LovellMortgage Loan OfficerNMLS ID: 561458720.529.6337
Glenna MaltbySr. Mortgage Loan OfficerNMLS ID: 514803303.667.4004
Government Affairs Division CAR Update
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE TWENTY
HB 1016 Precipitation Harvesting Pilot ProjectsThe LPC discussed HB15-1016 Promote Precipitation Harvesting Pilot Projects by Coram (R-Montrose) and Sonnenberg (R-Sterling) in last week’s meeting. House Bill 09-1129 established a 10-year pilot program for the collec-tion of precipitation from rooftops for nonpotable uses. The program can include up to 10 new residential or mixed-use developments. This bill, recommended by the Water Resources Review Committee, changes the requirements for the program to encourage more applicants. The changes include:
• Making redevelopment projects eligible for the program;
• Directing the Colorado Water Conservation Board (CWCB) to update the criteria and guidelines for projects;
• Reducing the amount of water needed for a project’s temporary substitute water supply plan and permanent augmentation plan; and
• Specifying that a project’s temporary retention of storm water is not subject to the order of the state or division engineers if it’s in compliance with CWCB criteria, guide-lines, and state water quality laws.
LPC decided to take a NEUTRAL position on the bill because they see this as a positive way to promote water conserva-tion with new developments, but they want to ensure prop-erty rights are not injured. This bill is calendared for its first committee hearing on Monday, February 2nd in the House Agriculture, Livestock, and Natural Resources Committee.
HB 1008 Agriculture Land Classification After Natural DisastersCAR LPC voted to SUPPORT HB15-1008 Agriculture Land Destroyed by Natural Causes by Hamner (D-Dillon) and Roberts (R-Durango). This bill, recommended by the Wildfire Matters Review Committee, provides that agricultural land destroyed by a natural cause on or after January 1, 2012, will retain its agricultural classification for a rehabilitation period consisting of the year of destruction and the next four property tax years. During the rehabilitation period, the bill specifies that the owner must make progress toward restoring agricultural use or, in the case of forest land, must comply with an approved forest management plan. The clas-sification of an affected agricultural parcel must change to reflect current use if:
• Rehabilitation for agricultural use has not occurred by the end of the rehabilitation period;
• The original agricultural classification was erroneous; or
• A change of use has occurred, other than destruction by a natural cause.
LPC views this as a great help to property owners who unfortunately suffer from devastation from a natural disas-ter. The original bill was directed at any natural disasters prior to January 2012, and this bill will extend that provision to anyone affected after 2012, allowing for the subsequent 4 years to also remain Agriculture Land for tax purposes. If the intention is to remain Agriculture Land, LPC believes that individuals should not be punished further, through higher taxes, for their land being destroyed by a natural disaster. This bill is calendared for its first committee hearing on Monday, January 26th in the House Agriculture, Livestock, and Natural Resources Committee.
REALTOR® Day at the Capitol: Tuesday, February 17thDon’t miss the 2015 REALTOR® Day at the Capitol on Tuesday, February 17 at the McNichols Civic Center Building and the State Capitol. This is a great opportunity for you to learn about and discuss important policy issues affecting the real estate industry this upcoming year, as well as hear from the Governor and legislative leaders and network with your legislators. Pre-registration is $55 and includes lunch and afternoon program. For more details, or to register today, please click here.
Transit Alliance Spring 2015 Citizen’s AcademyThe Transit Alliance is hosting their annual spring 2015 Citizen’s Academy from April 1, 2015-May 16, 2015. This is a great opportunity to discuss transportation, community development, and sustainability in Colorado. The class is limited, so please get your applications in to take part! More information, as well as the application, can be found here, and the deadline for applying is Friday, March 13th at 5PM.
NEW LEGISLATORSOver the next few weeks, we will be introducing you to the New Legislators in the 70th General Assembly.
• Jeni Arndt
o Democrat, represents House District 53. She, her husband, and their three children live in Fort Collins. She has extensive background in Public Education
DENVER METROASSOCIATION OF REALTORS®
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE TWENTY-ONE
working as a special education teacher, Middle School principal, International Baccalaureate Coordinator, and on the Board of Examiners for the National Council for Accreditation of Teacher Education. She serves on the Agriculture, Livestock, and Natural Resources Committee, the Business Affairs and Labor Committee, and the Local Government Committee.
• Jon Becker
o Republican, serves House District 63. He, his wife, and their two chil-dren live in Fort Morgan. He previ-ously served in the State House, however he was redistricted into now-Senator Sonnenberg’s district, so he stepped down until Senator Sonnenberg was term-limited in the State House. He is on the Agriculture, Livestock and Natural Resources Committee, Appropriations Committee, and Transportation and Energy Committee.
• KC Becker
o Democrat, hails from House District 13. She and her husband, a REALTOR®, live in Boulder with their two young sons. Formerly a Boulder City Councilwoman, Representative Becker was appointed to her position in 2013 to replace former Representative Claire Levy when she left to become the Executive Director at the Colorado Center on Law and Policy. She is the Vice Chair of the Agriculture, Livestock and Natural Resources Committee, a member of the Capital Development Committee and a member of the Finance Committee.
• Paul Brown
o Republican, serves House District 59. He and his wife live in Ignacio,
and they have four sons and seven grandchildren. He previously represented this district until 2012. He is a member of the Agriculture, Livestock and Natural Resources Committee along with the Health, Insurance, and Environment Committee.
• Terri Carver
o Republican, represents House District 20. She resides in Colorado Springs. She is a retired Air Force Reserves JAG Colonel, a former chair of the Colorado Springs Utilities Policy Advisory Committee, and a prior Civilian Attorney for the Air Force Space Command at Peterson Air Force Base. She serves on the Judiciary Committee and the Transportation and Energy Committee.
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Market Influencers |How Will Oil Price Drop Affect Housing?
DENVER METRO ASSOCIATION OF REALTORS® FEBRUARY | TWO THOUSAND-FIFTEEN PAGE TWENTY-THREE
DENVER METROASSOCIATION OF REALTORS®
According to many sources, oil price drops can be good for housing. But, there are some downsides. Here’s our analysis.
By Steve Murray,REAL Trends publisher
If you’ve been to the pump lately, you’ve surely had sticker shock in a good way. Another positive thing about oil price drops is that, experts say, it’s a good thing for the housing market. American consumers will have more spendable income, feel wealthier and be able to save more (hopefully for that down payment). This can lead to more household consumption on all kinds of things related to housing, including the ability to invest in new homes. Along with the loosening of standards from Fannie and Freddie and lowering of costs by FHA, this could add measurably to housing sales in the United States.
The Flip SideOthers caution that there will be
job losses in the energy states (Texas, Oklahoma, Colorado, Alaska, North Dakota, Montana, Ohio, Louisiana, and Pennsylvania, to name a few) and that employment will take a material hit in those states. Further, lower expendi-tures for gasoline have little impact on the ability of households to qualify for a loan. What matters is a consumer’s income, not their monthly consumable living expenses. So, there are many forecasters who think that the crash in oil prices (and natural gas has followed it down) may have, at the best, a neu-tral effect on the housing market.
We haven’t seen a crash in energy prices for this duration and depth in some time. This one is not caused so much by over-supply (that is estimated in a single-digit range on a per-day basis) but by forecasters who see the world’s economy slowing every-where in the face of the increased production
of hydrocarbons. So, this decline is more about a slowing global economy (evident in current data) and less about some huge oversupply.
What are the impacts on the American housing market when the world’s economy slows? With over 12 percent of all purchases last year com-ing from outside the country, it could have a material impact, especially when you consider that the country with the largest numbers of its citizens buying our real estate, Canada, has broad exposure to the world’s natural resource economy.
It will be an interesting year. This article originally appears in the February 2015 issue of the REAL Trends Newsletter and is reprinted with permission of REAL Trends Inc. Copyright 2015
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