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Read Zoning Rules Of Course

Interesting Tidbits on Sandy City Zoning-Special Use

Accessory Apartments & Guest Houses

• Accessory Apartment approval is only conditional
• Approval use is valid for only two years
• Upon sale approval expires-non transferable
• Occupants have to be related to homeowner unless they are the housekeepers
• City approval has to be recorded
• Guest house occupants can only be non-paying

Bonus Tidbit

• 6 household pets are allowed
• 10 chickens in addition to the 6 house hold pets are OK
• No roosters

If your a real estate nerd and want to read the rules….here is the link:

https://sandy.utah.gov/home/showdocument?id=4246

Many agents in this sellers market think that they really don’t need to invest in professional photographer since houses are selling so fast.  While this true, professional photos for your listing aren’t just for the local MLS, but for marketing yourself to other prospects, whether it is postcards for just listed/under contract/just sold, company websites, flyers, etc. etc.

One of today’s challenges is that many houses are selling for above list price and comparables are challenging, thus it is imperative that appraisers be able to document your home with the pictures that are going to help.  A picture is worth a thousand words.

For just a small amount of investment (under $100) you can hire a photographer to take 15-25 still photos.  I used Kyle Aiken with Home Tour Company and was really pleased. Here is a side by side of my photos with Home Tour Company Photos because remember “The deal is not done till everyone signs.”  P.S. We got multiple offers on this listing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salt Lake Board of Realtors Economic Housing Forecast

Everything is peachy keen as far as the speakers see it, but are they really?

Ivory-Boyer Senior Fellow James Wood presented the following picture for Utah

• 2015 was the 3rd highest year for single family sales up 22%
• Median sales price up to $272,000
• Days on the market lowest level since 2006 -21 days for homes
• Strong Market pushing prices higher but they are still 5% lower than 10 years ago
• Interest rates 4 to 4.5 maybe 4.75 by end of year
• Less than 2 1/2% of loans under water currently

Natalie Gochnour, associate dean and director of the Kem C. Gardner Policy Institute at the University of Utah

• Utah finished with #1 in fastest growing state
• Utah is know to be the Wall Street of the West
• Interest rates will have maybe 2 or 3 increases over the next year
• Definitely no bubble
• Very encouraging forecast
• $30 million being dumped into the Utah economy over the next 3 months from airport renovation

Reality is that things are great for Utah and for the United States; however, what is going on in the world has a direct impact on us

Although Ms. Gochnour touched on some of the world economic crisis currently happening, neither speakers seemed to think that anything globally was going to have much of an impact on Utah in the near future.  My opinion is that it would be impossible for anything on the list below to not have a huge impact on 2016 .

• Stock markets are extremely volatile
• Investors in equities including private pensions are taking a huge loss
• Talk of negative interest rates (Sweden already there)
• Oil prices have crashed to below $27 a barrel
• Financial troubles are still persistent in Europe
• China’s bubble might be about ready to burst
• Any major change with the Zika virus that effects travel

All I can say is keep your options open as the world is in a state of financial flux.  

What this means to people looking towards real estate is that when you are going to make a decision…

•  Think about the goals you are trying to obtain
•  Be smart about what you do
• Think about the what if scenarios
•  If you are selling and the market turns towards a buyers market are you prepared to reduced your price quickly
•  Do you have the funds to sustain you should the unexpected happen
• Can you handle this financial decision for the long term if need be
•  Hope for the best, prepare for the worst

for more information on SLBR Forecast click link for live webcast http://slrealtors.com/portfolio/2016housingforecast/

 

So you got your Real Estate License – Now what?

 Pick Out Your Office

~In order to start marketing yourself you have to be under a broker and all marketing material including business cards must show your company.

~The Division of Real Estate, Salt Lake Board of Realtors, and the WFRMLS are all going to require you to hang your hat somewhere to be active.

Set Up Your Database/SOI/CRM(Client Retention Management)

~The majority of your clients will come from this arena.  Your broker may offer their system, but I would recommend that you get set up independently.

~I use Realty Juggler because it is inexpensive, comes with a 3 month free trial (which most new agents appreciate),and it has all the bells and whistles needed.

~This link will give you the 3 months and then if you purchase you will get 2 more free- http://www.realtyjuggler.com/?Source=janice%40upperroomrealestate.com

Get A Mentor

~ I believe that every broker has the task of helping their new agents become successful.  I am also a firm believer that this should not cost you extra money.  There are so many proven systems in place to help you be successful-take advantage of that knowledge!  Many of the agents that I have trained have gone on to have their own successful brokerages. Now that is success.

~The most important aspect about your mentor/coach is availability.  When I was new, I would have to call my broker at least 10 times while writing up a contract.  There are strategies to negotiating and because every deal is different you want to have a broker that will hold your hand through the process so that you learn not only the hows, but the whys.  Even though I have been doing real estate for over 20 years, I still have mentors.  Plus who else wants to talk real estate 24/7.

 

Many times real estate agents shut down during the month of December, but there are a lot of things you can do as a Realtor to be productive and get ready for next year. Wrapping up the current years business and organizing for next years is a natural flow and makes good sense. Reflection on things that worked, as well reassessing things that didn’t can make a huge difference in your day to day business, especially when things get busy. Realtors that have been around for awhile know that being consistent is one of the key elements to a real estate career and consistency comes from systems. If you subconsciously or consciously thought you would take the whole month of December off….think again.

If you want to be successful at selling real estate, putting in a 40 hour work week is essential, it just may be that your work week in December is different – not non-existent. Just be purposeful, lets just call this time of December an at home work retreat to focus on your business practice.

Here are some ideas for December:

• Make sure your bookkeeping is up to date – register bank items, reconcile accounts and prepare documents for next seasons taxes. Still time for last minute adjustments.
• Create next years business plan (Tom Ferry has some great info called “Your Best Year Ever”).
• Organize your Database/CRM (Client Relation Management). Really get your categories down and get an actual number to your groups – this will help you budget and plan your marketing. I use Realty Juggler and it has all the bells and whistles. Its supper easy and it is only $99 a year, plus you get a free 3 month trial.  On my Facebook page dated October 19th I have a link that will give you another 2 months.
• Put together a detailed marketing plan for next year.  For each month decide what groups you will be marketing to (Database, Personal Circle, Past Clients, Geographical Areal/Farm). Now decide how often each month you will be contacting them and by what method. Will you be sending postcards, letters, emails, social media, and don’t forget phone calls.
• Order items that you know you will need-business cards, signs, postcards/mailers, directionals.
• Practice scripts – There are a ton out there for free, but it is all about getting comfortable with them so practice, practice, practice.
• Education – Get your continuing education done or watch videos that will get you excited about working. I love Kevin Ward videos-in fact, if I am going to go door knocking or cold calling I will often watch one of his quick 3 minute videos to get focused and pump up.
• Create some marketing packets to deliver to FSBO, Expired, and other prospects. I have some nice packets that have a few little marketing odds and ends such as pens, notepads, business cards, some partner flyers and then some helpful real estate brochures.
• Update your listing presentation.
• Get a book that will stimulate ideas, encourage and motivate you.

If the stay at home vacation reaches its max and you need some social interaction (because we know that most Realtors are 99.9% social beings)

• Network with other agents, brokers, lenders, and title.  Create some partnerships where both parties give each other referrals. I get great ideas all the time from others in the business.
• 5-5-4 Daily – Talk with 5 past clients, Make 5 new connections, and 4 lead follow ups.  Don’t skip over the part that said “Daily”.

If you are having trouble being motivated, get a real estate friend to do these ideas together or to keep each other accountable and remember that whatever you put your hands to will be prosperous.

Thinking about getting your license to be a Utah real estate agent?  This list is an approximate cost of how much to get started.  If you do get your license, keep in mind Upper Room Real Estate where we offer a 90/10 split.

$ 595  – School- My favorite is Stringham

$  66  – Test

$ 152  – Utah Division of Real Estate

$1,325 – Salt Lake Board of Realtors (Prorated)

$ 200  – Wasatch Front Regional Multiple Listing Service new subscriber fee

Once licensed…

$  33  – Wasatch Front Regional Multiple Listing Service (Monthly)

$775  – Salt Lake Board of Realtors (Yearly)

$  42 – Utah Division of Real Estate (Every 2 Years)

Don’t forget you will also need to purchase business cards, signs, lock boxes, continuing education, and of course marketing (just to name a few).  Let us help you navigate the process and save you money on the way.