Business View Magazine - Sept 2023

33 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 9 PHOENI X REALTORS ® He points out that in the past 30 days, nearly half of all transactions involved some level of seller concessions. More strikingly, the amount of these concessions has almost doubled. “Typically, we’d see sellers contributing about 1% of the sale price towards buyer closing costs. Now, it’s closer to 2%, with the median last month being $9,000 of seller assistance,” he adds, emphasizing the stark contrast from the pre-Covid figure of around $4,000. Leiber also touches upon the advocacy efforts of Phoenix REALTORS®, particularly in the realm of lobbying. “We have an extraordinarily strong state association that lobbies effectively to our state legislature,” he says, praising Arizona’s business and homeowner-friendly stance. At the national level, the focus shifts to broader issues, such as lending laws and affordable housing initiatives. He highlights the recent changes to VA lending laws that benefit veterans. However, at the state level, the emphasis is on protecting homeowners. Citing an example from Rio Verde, Arizona, where certain communities face water shortages due to builders exploiting legal loopholes, Leiber underscores the association’s commitment to safeguarding consumers. “We aim to pass laws that prevent such situations from arising,” he adds. Membership Dynamics and Addressing Local Challenges Phoenix REALTORS® boasts a robust membership base, with over 11,000 members, making it the second-largest association in the state. “Local issues affect local Arizona real estate laws, but doing business in Phoenix is very different than in Sedona, Tucson, or Flagstaff,” Leiber points out. With 14 associations across the state, each is tailored to protect its local real estate market, the realtors operating within it, and the consumers they serve. A pressing concern across all areas is the rise of short-term rentals. While Phoenix grapples with this issue, it’s more pronounced in places like Scottsdale, Paradise Valley, and Sedona. Investors are snapping up properties for short- term rental purposes, leading to housing shortages and pricing regular consumers out of the market. Leiber shares a personal anecdote, “My neighbor sold her home to an investor who turned it into a short-term rental property. Every weekend there are new people, some noisy, some not. It has impacted my way of life.” This scenario underscores the challenge of balancing homeownership rights for both investors and residents. Leiber emphasizes the importance of local representation in addressing such issues, as different markets are impacted in varied ways. “Those are the kind of issues where your local