How Will You Make Your Mark in 2017?

Credit: Morguefile.com/GaborfromHungary

Here we are at the beginning of a new year once again, and you’re probably already thinking about how to make 2017 even better than 2016. But let’s take a minute and appreciate the great work you did last year. It was definitely a big year for real estate, and we asked real estate professionals to share the moments they were most proud of in the business in 2016. The question is how will you follow it up with even bigger accomplishments in 2017? Take a look at some of your colleagues’ biggest achievements in 2016, and tell us your own story in the comments section below.

Love and Real Estate

In searching for a date, I encountered a woman with whom I shared similar interests: live concerts, movies, eating healthy, and enjoying each other’s company. As we got to know each other, we discovered that we both were in real estate; she is a rental property owner, and I specialize in residential property management. I helped her divest her inventory and replace them with higher-quality rentals, as well as get the management accounts for the properties. We now share the same household together! —Norbert Huston, GRI, Huston Associates Real Estate, Stockton, Calif.

Back to Where It All Started

This year I was blessed with a heartwarming sale. I had the opportunity to sell a generational homestead back to its original family. It had ended up as an REO with the last owners (non-family members), and my clients called up wanting to see it. I had to tell them it was already under contract, but they begged and I relented. While I was showing the home, I heard whispers among my clients: “Remember when you fell in the creek, Dad?” That’s when they told me their story and how much they wished they were able to repurchase their family home. With a wish and a prayer, I called the listing agent and asked her to please allow us first dibs if the current sale contract were to fall through. The listing agent said it was a pretty solid deal, but she’d let us know. The following Tuesday, the deal miraculously fell through, allowing my clients the opportunity to buy back their memories. It was a very touching sale and one that reminds me every day what a wonderful profession real estate can be. —Jacklyn Leber, e-PRO®, Berkshire Hathaway HomeServices Montana Properties, Twin Bridges, Mont.

Proving Her Professional Worth

I got a seller $30,000 more for her home than she was asking as a FSBO. —Kathleen Marie Stansfield, GRI, Exit King Realty, Venice, Fla.

Balancing Priorities

I was an NAR regional vice president and still had a record year for sales and profit. —Joe Pryor, CRS, e-PRO®, The Virtual Real Estate Team, Oklahoma City

A Win for Everyone

My proudest moment was when I worked out an occupancy between my seller and a woman in her 70s going through a divorce. He needed to have a means of income, and she needed to have a place to live right away. The transaction closed about five months later. I felt I delivered on my duties to all parties. —Don Day, SFR, Diamond Realty & Associates, Bossier City, La.

Overcoming Complex Challenges

I completed a transaction that included an appraisal that came in $65,000 low, a lengthy temporary lease for the buyer, acreage that had to be reallocated and resurveyed, and a chicken coop full of chickens! It was an extremely complex transaction, but with the right attitude and a spirit of cooperation, the other agent and I were able to successfully close this transaction. I’m counting this as my big win for 2016. —Dana Johnson Williams, GRI, RE/MAX ONE, Beaumont, Texas

What was your biggest accomplishment in 2016? Share your achievements in the comments section below.

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Important Tax Provisions Still Available for 2016 Tax Year

The following status update on mortgage debt cancellation relief, an important federal tax issue for homeowners, is written by Jon Boughtin of NAR Media.

The 114^th Congress recessed in early December without completing work on a so-called “tax extenders” package needed to continue important tax breaks for real estate. This included tax relief for the cancellation of mortgage debt, as well as the deduction for mortgage insurance premiums.

Mortgage debt cancellation relief is important for underwater homeowners who, without the provision, would be taxed on mortgage debt forgiven in a short sale. Mortgage insurance premium deductions, likewise, are helpful for a large number of homeowners, particularly first time homebuyers, who lack a 20 percent downpayment when purchasing their home.

The National Association of Realtors® advocated for a tax-extenders package that would extend both of these provisions into 2017, but Congress adjourned without taking further action.

Although these provisions expired at the end of 2016, there is a misconception that they are unavailable to homeowners for the 2016 tax year. Both the mortgage debt cancellation provision and the mortgage insurance premium deduction are available to homeowners filing their 2016 taxes this year.

Further work is required in Congress to extend these provisions into 2017, and NAR is supportive of those efforts.

You can learn more about this issue at NAR.REALTOR.–Jon Boughtin, NAR Media

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10 Articles You Found Most Useful in 2016

We at REALTOR® Magazine are always looking for tips and insights into the real estate business to share with you in hopes of improving your odds of success. This year, we hit a nerve with a few interesting stories covering topics such as verbal missteps with clients, social media posts that could land you in hot water ethically, and underlying tensions between brokers and team leaders, among others. These 10 features were the most popular on our website in 2016; did they help you learn something about your business?

7 Things You Shouldn’t Say to Clients
Sometimes, real estate agents’ tongues get ahead of their brains. Here are some client scenarios to approach with tact and diplomacy to keep your business relationship on track.

5 Things Prospects Can’t Say No To
People instinctively turn you down when you offer them your service. Work in these phrases when communicating with prospects to get them to “yes” faster.

Social Media Posts That Get You In Trouble
It’s often misunderstood how the Code of Ethics extends to your online conduct. What you wouldn’t say or do in front of someone, you also shouldn’t do on social media.

5 Things Every Real Estate Pro Should Fear
These wicked marketing tactics are nightmares for your business. Here’s how to avoid spooking clients and killing your future success.

Trends That’ll Influence Homes in 2016
Help your buyers and sellers learn what’s new on the residential front to meet their own needs as well as the desires of future buyers.

What Are Your Team Leaders Not Telling You?
Office dynamics can be tricky where sales teams are concerned. Team leaders offer brokers these thoughts on how to reduce frustrations.

7 Sins of Personal Branding
Your personal brand influences how you want others to feel about you. If your photos, logos, and other elements aren’t executed right, it could harm your reputation.

Are You Too Nice For Your Own Good?
We’re taught to be kind to everyone, but that means keeping your guard down against potential predators. To stay safe, adapt your nature to a more dangerous world.

6 Steps for New Agents to Succeed Long-Term
Do these things at the beginning of your career, and you’ll set yourself up to build a business that will last well into the future.

Do You Know Your Emoji Etiquette?
Emojis are becoming commonplace in professional communications, but know when they are and aren’t appropriate to use with your clients.

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Families Can Get $11,000 More In Loan Funds

Interest rates are inching up and credit can still be hard to get but there is one bright spot for households hoping to buy a home soon: they can get a larger loan now, thanks to recent loan-limit increases for both conforming loans and loans backed by FHA.

The Federal Housing Finance Agency (FHFA) increased the conforming loan limit a few weeks ago, for the first time in 10 years, and it’s now at $424,100 in most markets, up from $417,000.

That increase didn’t come about by chance. Among other things, the agency last year heard from NAR on making the limits more responsive to changes in market conditions. “NAR encouraged them to use a number of factors that would create the most favorable result in all communities nationwide and did in fact result in an increase in loan limits,” says Megan Booth, an NAR regulatory policy representative.

As a result of that increase, FHA loan limits will also be going up, because those limits are set as a percentage of the conforming limit. Starting in 2017, borrowers in high-cost areas will be able to get loans as high as $636,150, almost $11,000 more than what they can get this year. That increase is expected to make a big difference for households trying to buy in major metro areas like Chicago, San Francisco, and Washington.

Details of the new loan limits are covered in the latest Voice for Real Estate news video from NAR. Also covered are remarks by Reps. Frank Lucas (R-Okla.) and Brad Sherman (D-Calif.) on why it’s crucial that lawmakers do no harm to housing next year should Congress take up tax reform and reform of the secondary mortgage market companies Fannie Mae and Freddie Mac.

Despite being on opposite sides of the aisle, both lawmakers said residential real estate is too important to the health of the U.S. economy for any changes to disrupt home sales. That means lawmakers must tread lightly as they look at whether long-time tax incentives for homeownership, like the mortgage interest deduction, should be touched. It also means any changes to Fannie and Freddie mustn’t reduce investor interest in mortgage-backed securities. “I think [low interest rates on 30-year, fixed rate loans] go away if we don’t have a government insurance program,” Sherman said at a meeting NAR hosted last week with S&P Global on the state of homeownership.

The video also includes remarks by NAR President Bill Brown on the nomination of neurosurgeon Ben Carson to be secretary of the U.S. Department of Housing and Urban Development and what to expect in home sales in 2017. Access the video.

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REALTORS® Get In On the Mannequin Challenge

For those who haven’t heard, the Mannequin Challenge, an online video challenge where people freeze in place to enact a still scene while someone takes a video of it, went viral in the last couple of months. The challenge, which started with teens capturing moments of adolescent life, has grown in popularity among people of all ages — and now real estate professionals are even joining the fun.

Members of the Pennsylvania Association of REALTORS® went stiff for the challenge during the Triple Play REALTOR® Convention & Trade Expo in Atlantic City, N.J., earlier this month. The idea to take part in the online challenge came from Jesicca Skoloda, YPN chair for the Luzerne County Association of REALTORS®. Check out PAR’s video above. Think your association could do better?

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Sponsor Webinar: The Future of Property Management

REALTOR® Magazine is promoting a sponsor webinar on the future of property management. Below is text provided by the sponsor, AppFolio, about the event.

“This is it: the end of 2016 is almost here. As we look at the future of property management, it’s clear that you need an accurate picture of your business’s financials and a solid plan for growth. Join AppFolio Project Director Stacy Holden for a comprehensive (and guaranteed to be entertaining) session on the basics of strategic budgeting, so that you can maximize your profits by knowing where to spend.

“Register for our free 60 minute webinar on Thursday, December 8 at 11:00 AM PST / 2:00 PM EST to learn more about:

“Analyzing competitive data for your area
Calculating your Total Effective Rent
Pricing your units for optimal profitability
Assessing and improving your accounting toolbox
… and more!

“This event is brought to you by AppFolio, providers of web-based property management software. This webinar is also promoted with the assistance of Realtor Magazine.”

Register. 

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Do You Know the ABCs of Personal Branding?

By Seth Price, digital marketing specialist and vice president of industry relations for Placester

Do you consider yourself to have a great personal brand? Would you buy a house from yourself? If you hesitate in answering those questions, it’s time to take a deeper look at your personal brand. People still like to do business with those they know, like, and trust. And, if you’re not paying close attention to your reputation signals, you could be missing out.

In real estate, your personal brand is more important than ever. Word of mouth and “word of mouse” can make the difference between obscurity and a million-dollar listing. In research for my new book, The Road to Recognition, I interviewed over 250 successful personal branders, from Gary Vaynerchuk and Chris Smith to Brad Inman and Ben Bacal. You may have heard of Ben; he’s one of the top REALTORS® in the U.S. and sold more than $400,000,000 in real estate last year with a team of just six.

What I discovered in my research turned out to be a surprisingly simple road map for building a personal brand. If you want the best personal branding tips in one place, then you’ll LOVE this infographic.

Save

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A Reminder of What’s Good in the World

Good Neighbor Award winners from left: Ed Liebzeit, Cindy Barrett, Susan Gruen Helsinger, Wyn Ray, and Sarah Sorenson.

As I took my seat shortly before the start of Saturday night’s ceremony honoring REALTOR® Magazine’s 2016 Good Neighbors, I grabbed my phone and got on Facebook for only the second time all day. “For once, I’ve been too busy to post about the election,” I wrote in my status update. (Covering the REALTORS® Conference & Expo, which is now being held in Orlando, Fla., will keep you from thinking about almost anything else.)

I scrolled through my feed, looking at articles and comments disparaging this or that candidate, which is pretty much what I see all day, every day on Facebook anymore. (I’m way too guilty of contributing to this myself.) The more I read, the more I became angry and impatient. And then I felt angry for allowing these emotions to take over at a time when I should have been celebrating the extraordinary measures the five REALTOR® winners (and five honorable mentions) have taken to make life better for disadvantaged members of their communities.

I resolved to power down and turn my full attention to these heroes’ amazing stories. What I heard was nothing short of miraculous. If you’re overwhelmed, as I am, by events in our country and world at this moment, I’d like you to hear what I heard Saturday from these awe-inspiring Good Neighbors. Maybe it will give you a much-needed emotional reboot.

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“Imagine a house with no indoor plumbing less than a mile from where you live,” said Cindy Barrett as she accepted her Good Neighbor award. For her, it’s not just in her imagination. Her organization, Christmas In Action-Spartanburg, has repaired more than 800 homes for low-income owners who in Spartanburg, S.C., who were living in unsafe conditions because they couldn’t afford to keep up with home maintenance.”

“They cannot believe that someone they don’t know wants to help them,” Barrett said. “I’d like to believe we also restore their hope.”

CIA has helped veterans with disabilities, elderly widows who couldn’t afford to keep up  their home, and many others who have to rely on help from their neighbors. “We need to be neighbors helping neighbors,” Barrett said. “The way it makes me feel to love my neighbor is something I never bargained for. It’s an awesome privilege.”

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Susan Gruen Helsinger talked about her son, Jason, with the pride every mother feels. “He loved building model rockets, he was a black diamond skier, he loved computers. He wanted to go to Princeton.” But then, at age 15 in 1985, Jason died from a sudden cardiac event.

In his memory, Helsinger established the Jason F. Gruen Research Foundation, dedicated to funding advancements in cardiac research and screenings for children. The foundation has brought screenings to 2,000 kids – 72 of whom have been diagnosed with cardiac abnormalities.

“I always felt that if there had been a test for Jason, maybe we would have understood and been able to do something more,” Helsinger said. She travels widely, to such places as the West Point Military Academy in New York, to spread her message. “I asked cadets for a favor. Somewhere along their journey, I asked them to do something for a child somewhere in the world and to say it’s their contribution to Jason’s memory. His life had meaning.”

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Men have a particular responsibility to stand up to domestic violence, said Ed Liebzeit, whose Community Safety Network offers a safe haven for women escaping violence, harassment, and sexual assault. “Men need to stand and say loudly, ‘That’s enough and we’re not going to accept it anymore.’”

Domestic violence affects every demographic group, Liebzeit said, but too often, people look the other way. He noted that high-profile people such as celebrities and athletes often add to an environment in which domestic violence is excused or swept under the rug. “Every one of us can help by being a friend, recognizing the signs of abuse, and reaching out and being that voice that victims need.

“My wish is that others are inspired by my story,” he continued. “Giving back is really what it’s all about. It’s the best feeling you could ever have. Success is defined by what we have done to make our community a better place.”

*****

“Our story is filled with faith, miracles, and answered prayers,” said Wyn Ray, who, along with his wife, Sunny, regularly travels to the impoverished African nation of Ethiopia to help build projects that improve conditions for the people of the village of Wekin. There used to be elementary and high schools where students would sit on dirt floors and couldn’t drink from fountains or use bathrooms because there was no access to clean water.

“When I’m at home, pouring a glass of water, I think about the 8,000 people [in Wekin] who are forced to drink dirty water,” Ray said. Over the years, he has raised tens of thousands of dollars to help build latrines and a security fence around schools and soon will ship 20,000 books for students.

Ray spoke of the people he’s met who have inspired him to work harder every day for the people of Wekin. “I think about a paralyzed woman who walks on her hands. She lives in her mud hut without electricity, a bathroom, or running water,” he said. “I hope to bring a wheelchair for her.”

Ray also remembers a young, sick boy he met. Ray raised enough money to pay for the boy’s medication for two years. But the boy took the money and instead bought a cow, who then gave birth to two calves. The boy sold their milk to pay for his medication. “What an entrepreneur,” Ray said.

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Sarah Sorenson, who founded Wishing Well…For Maui Students in Hawaii, recalled her first career as a public school teacher. It was then that she learned how inadequate school funding was for ensuring a quality education. “The first frustration was convincing people that our public schools needed anything at all,” she said. “Most people don’t realize that in Hawaii, our schools don’t get any funds from property taxes. There is never going to be enough money to fund our schools.”

But her organization and its volunteers have raised $1.5 million in goods to give to Hawaii’s public schools. They gather wish lists from teachers and try to fulfill their requests. “Schools are the backbone of most neighborhoods,” Sorenson said. “If schools improve, our communities improve, too.”

Sorenson closed the evening with a quote from her favorite author, Dr. Seuss. “‘Don’t cry because it’s over; smile because it happened,’” she said. “We’re all glad for what has happened in Maui.”

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