“The Windermere Way”

Hi everyone. As I shared last week, I’m going to host “The Windermere Way” book here all of October now that we have this read in a digital version (ISSUU). The “preface” below, along with a link to the entire book is now available for your fall reading list. I just finished re-reading it cover to cover & I hope you will you join me? And, for those of you in my Seattle Windermere Real Estate Co. offices – it just might pay off if you read it in its entirety – knee deep in planning November FUN around the content! Turn the pages – the more you know – the more you could win! Trivia anyone?

To this day, I’m firmly committed to my belief that owners and agents must build strong relationships with each other, be willing to share knowledge and know-how, and learn to ask – even to rely on – each other for help. You don’t compete with each other; you work toward the same professional objectives. By doing that, everyone wins and there are not only fewer mistakes and failures, but also greater success.– John Jacobi

After you finish “The Windermere Way” – I believe you too will agree John Jacobi is one of the great architects within our industry. It is for us to continue building in modern ways yet in keeping stride with the foundation firmly poured for us.

Enjoy turning the pages & in authoring the chapters to come – together – I’m All IN for that.

And oh, what color was the original carpet of our very first Windermere office in 1972? Read on to find out…

Here to help – the ultimate goal. – Laura

It’s Sunday. “The Windermere Way”

Hi everyone. This Sunday evening’s blog post will take on a life of its own throughout October. I’m going to host “The Windermere Way” book right here all of October now that we have this read in a digital version (ISSUU). The “preface” below, along with a link to the entire read is now available for your fall reading list. I’m re-reading now – will you join me? And, for those of you in my Seattle Windermere Real Estate Co. offices – it just might pay off if you read it in its entirety – knee deep in planning November FUN around the content! Turn the pages – the more you know – the more you could win! Trivia anyone?

To this day, I’m firmly committed to my belief that owners and agents must build strong relationships with each other, be willing to share knowledge and know-how, and learn to ask – even to rely on – each other for help. You don’t compete with each other; you work toward the same professional objectives. By doing that, everyone wins and there are not only fewer mistakes and failures, but also greater success.– John Jacobi

After you finish “The Windermere Way” – I do believe you too will agree John Jacobi is one of the great architects within our industry. It is for us to continue building in modern ways yet in keeping stride with the foundation firmly poured for us.

Enjoy turning the pages & in authoring the chapters to come – together -I’m All IN for that.

Have a great week all! I’m here to help – the ultimate goal. – Laura

It’s Friday, let’s sweep! | Guiding Sellers “now”

Welcome to Friday all! We are certainly graced with a beautiful PNW day after a downpour yesterday. Frankly, I’ll take both! This week, my sweep is focused on Seller Conversations “now” (and always), a wee bit on burnout and a rally cap moment!

Seller Conversations “now” – 3 stories

I witnessed a Seller receive 2 offers on their home upon listing review date (note: price did not escalate beyond asking price) and once they saw the estimated sellers net proceeds at full price they questioned whether to sell or not. They hadn’t factored in excise tax (or forgot about it) and assumed it would sell over list. Oops. Actually, double oops. Have that Seller conversation early & often with respect to review of seller net proceeds at list price to help set exceptions. An offer at list price is a possible option 😉

When reviewing multiple offers – please do not lose sight of communicating with buyer brokers. I witnessed a buyer submit on time (offers by noon), her offer expired at 9pm and broker didn’t hear a word until 9:38pm. It’s ok not to win out – yes, there is always a waiting game – just please communicate some timeline. It’s an awful place to put a buyer broker in. And, if you’d like a Friday funny – sharing this video (that has nothing to do with real estate yet gives a nod to communication) to keep things light! *you’ve been warned – a little explicit in language* Six funny minutes here.

…and for your Seller’s that decide on an offer review date & then go of script and up all timelines because they received an early offer – quickening the timeline can also have unintended consequences. When you put everyone now in a position to act even faster than they anticipated – mistakes (aka, buyer’s remorse) can happen. An optic to keep in mind. I saw that too happen this week.

This week’s practical application from last week’s “Suits of the Past” class is focused on Seller Ratification on our listing agreements.

Seller Ratification. Many brokers have the seller sign a listing agreement which is not completely filled-out at the time of signing. In order to avoid liability for incorrect listing representations, a broker must ensure that the seller has read the broker remarks and ratified them through signing a completed listing agreement.

Practical application: If you have a listing agreement signed without marketing remarks, agent remarks etc…not 100% filled in at time of seller signature – just make sure you circle back and get their “ok” in writing before exposing their home to the market – this is Seller Ratification.

It’s feeling a wee bit like 1995 for our Seattle Mariners. If you are a baseball fan – you too are anticipating a big & exciting weekend for our Seattle Mariners! It’s rally cap time to clinch the wildcard into the playoffs. Good luck to our M’s! And, for the rest of us – it’s rally cap time with 91 days left in 2021. Let’s rally for each other in all ways. Having great conversations with our Sellers, Buyers, each other. And, for those of you feeling a sense of burnout – I appreciated Michael Fanning’s 12 minutes this week on dealing with burnout. This video also recalls one of my favorite stories around “The Wind” – you might recall I shared this story earlier this year in my blog writing. A GOOD reminder. Right here.

All in, for rally caps. All in, for you. All in, for us. – Laura

It’s Friday, let’s sweep! | a ditty + oh Ted + “or sooner” + could it be true? + what happened…

Welcome to Friday & the end of a week where we officially said goodbye to summer and welcomed in fall. And oh, September 21st happened – thank you Ann O’Neil for sending this little ditty on Tuesday morning to start my day! Still worth us all turning up the volume and moving a bit to this ditty – right here! *especially great being my 15 year old told me this week no more signing and dancing in the car to school. Sorry buddy, I can’t stop moving;) Ok, what happened in real estate this week…

No, that isn’t an picture from our office(s) this week (although Halloween is coming soon?)! This is the Ted Lasso crew at the 2021 Primetime Emmy Awards after scoring big. What did happen – Windermere Eastlake assistant manager Dina Harvey Jardine text me this photo as we received a call from the DOL starting in on yet another office audit. Her exact quote, “this is the energy we bring to the Eastlake audit.” Another moment the made me smile this week. Anyhow, a heads up that the DOL is back auditing. A general reminder that our offices are as audit proof as our partnership with all of you in doing so. We are getting pretty good at this – thank you!

This week I hosted two legal CE classes, “Suits of the Past” with Demco Law Firm. I have blog content for weeks. In proper Friday “sweep” form, I’ll share practical application over the coming weeks in what came out of class. First up, “or sooner” commentary within our purchase and sale agreements…

Question: Does writing in phrases such as “or sooner” or “on or before…” etc. constitute unauthorized practice of law? Does it matter if such a practice is widely accepted in the industry?

Answer is: Despite the prevalence of phrases such as “or sooner” – these phrases should be avoided. At best, these phrases legally accomplish nothing, as the parties would have subsequently agree to change the closing date, anyway. At worst, these phrases can be ambiguous, misleading and can lead to lawsuit (and did – as shared in class this week). The best practice is to leave these phrases out and just insert a Closing Date. If the parties can and want to close sooner, they will execute an addendum doing so.

…another way to think of this – agreements to agree are not enforceable and can lead to confusion in expectations between buyer & seller. *I know, your next question then becomes – why does escrow ask us to add “or sooner” in an addendum? Just explain to escrow that you’ve been advised not to and that all parties are amicable to closing early and we’ll send a Closing Date addendum with new date if that becomes possible!

Could it be true?! Learned just today while visiting our Ballard office that paint stores will now accept latex paint! This is huge! At least, news to me. Oil paint still needs to make its way to hazardous waste sites.

That’s a wrap from my desk this week. To close it out – carrying thru last week’s blog focus in mental conditioning from Trevor Moawad. Stealing Madison Park broker Susan Stasik social post from today…

“What happened happened. Okay. Fine. What happened after this has nothing to do with that.” – TM

Be good to yourselves everyone. As pictured at the top of this post – bought myself some flowers on the way home from the Ballard office today. What will you do for you this weekend?

All in, for you. All in, for us. – Laura

Welcome to Friday! | I’m not going to tell you to be positive…

…I’m going to teach you how to become neutral in your thinking. I take an athletic approach to our business; and if you know me well, you’d probably say the same thing about my life. So when we brought in Trevor Moawad on mental conditioning to a recent Windermere virtual kick-off event, he took my mental conditioning game to a next level.

This week, we lost Trevor to cancer. What we didn’t loose was his impact. Fitting for me to again share his focus as a 1. nod to Trevor this week and 2. as a nod to doubling down on our mental conditioning.

At the physiological level, we all talk to ourselves. A lot of time we don’t know how often we do – we do about a 1000 words a minute at the subconscious level. – Tevor Moawad

Sports Illustrated named Trevor the best sports mental coach in the field. Sharing these next 34 minutes and 19 seconds with you – a conversation with Trevor.

Much of our lives comes down to influence. We owe it to ourselves however to influence ourselves first. You matter. Then you become a meaningful influence to others. Thank you Trevor Moawad for your influence. – Laura

Welcome to Friday, let’s sweep! | Welcome back to Blue Friday! +

Welcome back to Blue Fridays in our region! I’m wearing new blue pants for the occasion – good luck to our Seahawks this weekend vs. the Colts! The following week we’ll welcome back our Tackle Homelessness campaign when the Hawks again take their home field. More on that next week!

This week a few odds & ends to keep us moving forward – as I amplify last week’s post & story in to KMF (“keep moving forward”)…

I was reminded this week of NWMLS Form 35C – worth taking a glance at again – as it was added to our toolbox during the most recent forms revisions. If you have PSA with an inspection contingency and your Buyer does not yet have consent to send inspection report (or any part of it) – 35C can be your friend post inspection. It takes a little art in getting it done yet can be a strong tool.

I was also reminded this week in the importance of a proper rescission. While you brush up on forms – take a good look at NWMLS Form 51 – Rescission Agreement. Most likely at the point of rescission we are naturally focused on the use of this form to bring an understanding between Buyer & Seller. Paragraph #1 most likely gets only a glance in process yet today I want to bring attention to it. It’s a paragraph that can give you & your firm a little more certainty moving forward…

NWMLS Form 51. 1. Release. The Agreement and all other agreements or undertakings between Buyer and Seller with respect to the Property are rescinded. Each party releases the other and all real estate firms and brokers involved with this sale from any and all liability in connection with the sale, except as agreed below. Nothing herein shall be constructed to terminate any existing agency relationships or related agreements unless otherwise agreed in writing.

That’s a wrap for this week. Schedules are back for so many, we are back to driving 20mph around schools (be safe, be smart!), fantasy football drafts have taken shape, Biden’s plan for private sector companies with at least 100 workers was released on vaccinations – more on that in the coming week(s) – and we are watching our speed limit on our market. Let’s keep moving forward; together….

Sharing a school photo from my kiddos as they are often a guide for me in keeping to move forward – these kids can often teach us! #KMF

Laura

Welcome to Friday! | “KMF”

Welcome to the end of the week, welcome September & welcome to the launch into the long Labor Day weekend! Content light today, instead a story that keeps coming back for me – a sweet story from summer.

My family was able to road trip in August to Sun Valley (ps, lesson learned – fly Laura fly – that is a long drive!). Each morning, I the first one up in the house. Coffee in hand, dog by my side we headed out for our morning walk. On one of the strolls, at the base of a mountain – an elderly gentleman with two walking sticks was coming down from his morning hike. As I do, I engaged with him & inquired, “how was it” and it was in his reply that this stranger is now etched in my mind…

His reply…”KMF” to which I said “tell me more” to which he said, “always Keep Moving Forward, that is all we can do. I just go where me feet take me…”

I offer this story & message to us all as we head into the holiday weekend, a ton of transition for many people (aka, school is back – with that comes a lot!) and the beginnings to change of season to fall. I will celebrate the work we get to do, go where me feet take me and always KMF

All in, for us. All in, for you. All in, for KMF.

Laura

Welcome to Friday, let’s sweep! | certainty

Welcome to Friday, let’s sweep this week and give a nod to an uncertain moment around the pandemic and lean into what we can call certain. In times like this, I look for what is certain to recalibrate and have confidence this moment will pass. You’ll notice throughout this post images of the sun setting. All pictures taken this week. All taken from the same spot; yet naturally unique. What dawned on me when I looked at these pictures – they do have one thing in common – the certainty that the sun rises each day and sets each day. Not rocket science, yet I appreciate this knowing and for this week, being reminded.

Ok, let’s talk real estate. Remember last week’s post around KCM’s analogy of the speed limit and our market? Well, Windermere manager Rob Graham took that to a whole new level this week. Sharing here…

Note: #’s referenced are for single family homes in the City of Seattle.

“The conversation came up in my meeting last week about, “Is August a bad time to list”.  I promised my brokers I would go back and do some geeking out on the numbers and let them know what I find.


I went back and looked at each month going back 10 years and here are the bullet points of what I found:


*August has averaged an average Sales Price to Original List Price of 100.4 over the past 10 years.  The average for that entire time over all months was 100.3.


*August has averaged 23.1 CDOM over the last 10 years.The average for that time across all months was 27.5
I only pulled single family homes in the city of Seattle. 


*I think the conversation that I am going to have with them is around never overpricing regardless of month and that the sentiment about August may be more a product of the change in momentum.  In August as we transition to fall it feels like going from 70 mile an hour to 60, while March feels like going 50 to 60.  Both are 60 miles an hour but because of the direction of the momentum, it feels very different.”

*ps, text me (206.227.7133) if you want the graphs Rob shared beyond his bullet points above. Love me some geek!

A reminder this week for listing brokers! This is a re-share as the need came up this week. Redfin has a tool for you when you need support when your listing needs editing on their website. Remember, Redfin is a Firm with the NWMLS – meaning Windermere has zero control on syndication to Redfin – they; like us – receive their data direct from the NWMLS (IDX feed). That said, when you are in a panic – here is a support link…

Real Estate Agent Looking to: Edit a Listing” – support here.*bookmark it! Or, if lost – give me a text/ring.

Note: I haven’t been able to track down the same kind of direct broker support for Zillow. That said, I know people that know people if we need to escalate a problem on their site. Again, they too now receive their listing feed direct from NWMLS.

That will wrap my sweep this week! Let’s double down on our superpowers – mask, distance & wash out hands. These big 3 are certain – as are the sunrises and sunsets – even if we can’t see them at all times. It is reassuring to know they are certain.

I’ll leave you to ponder this thought – what brings certainty for you? Good time to double down on that!

All in, for you. All in, for us. – Laura

It’s Friday, let’s sweep! | keeping up with “current matters” – what is the speed limit?

Welcome to Friday and yes, the lead story on today’s blog is the anticipation of the reinstatement of our WA State mask requirement for everyone, regardless of vaxx status, in indoor settings. Full update from the NWMLS here – if you haven’t digested it yet. The good news I pulled from the Covid-19 update for us & our industry is this…

“Real estate firms may continue to open their offices at 100% capacity, provided that firms comply with the mask requirement and all other recommended health guidelines.”

And if you join me in a bit of confusion around this current moment in time – I found this week’s article from The Atlantic, “Delta Has Changed the Pandemic Risk Calculus. If you’re confused about what you can do right now, you should be.” to mirror where my thoughts have taken me…

Read full article in The Atlantic here.

In turning the page back to real estate, sharing again one of my favorite sources of information to aid in the above graphic – aka, helping people make decisions not 100% based on emotion. Each month when I invest my time in watching & listening to KCM’s monthly market report I feel a wee bit smarter and ready for those “how is the market” infamous questions we all encounter. It’s a solid monthly habit for me – join me?

In this month’s Keeping Current Matter’s market report (21 minutes this month) – the team at KCM speak to bubble chatter (or not), forbearance concerns (or not), Q2 “buyer traffic” (still strong) and a nice summation analogy around our market possibly beginning to drive the actual speed limit the second half of 2021…

We’re in August right now, and here’s the analogy I would give you. Where we’re at in the real estate market is the analogy of going, flying down the freeway. We’re doing 95 or whatever miles per hour, and you see an officer up on the hill ahead, and you start to slow down. Maybe you slow down to 70, 65 miles an hour, and it feels like you’re crawling, but you’re actually doing the speed limit. We’re coming back into a little bit more normal market, seeing some normal appreciation forecasts.” – KCM, August 2021 monthly market report

*as a reminder the KCM site is updated by the 10th of each month. If you’ve never visited the site yet – there is a complimentary 2 week trial awaiting you there – worth your time! If you just want a look every now and again – feel free to text me and I’ll let you borrow my log in information for a test drive. 206.227.7133*

And as we close out this week’s FWL post – let’s take this moment to double down on Going Slow & Doing No Harm – for the good of all. – Laura

*below – attempt at a family selfie in the middle of the Big Wood river last week & our ride up to 9150′ in the air! #peace

Let’s sweep! | 7 minutes on forbearance

Welcome to Friday (almost) everyone! I’ve hit the pause button and the open roads with my family. First stop – 3v3 basketball tournament and then off to digest the grand outdoors in search of mountains, lakes, streams and time together. The goal is to power up our batteries in prep for the upcoming fall. I hope you too are finding intentional ways to soak up summer & prepare to power up for a strong finish to 2021.

…before I turn on the autoresponder – I’m sharing a video break down (7 minutes) around the state of forbearance from Eric Thompson. With “forbearance” in the news – Eric does a nice job in simplifying and helping us move beyond the headlines. As with anything, the better we educate ourselves the better we can educate others. Our words matter.

Will Forbearance Cause a Housing Meltdown? (Hint = No) – Eric Thompson

Ok, T-minus a few hours until autoresponder turns on. FWL will return when my battery is fully charged again. For now, an August pause…

Be well, stay well. – Laura