It’s Friday, let’s take a quick sweep of this week and keep a few talking points top of mind, together…
What is a P.E.A.R. report? |Do people truly understand the “equity” position they have in their home or real estate portfolio. There is a different way to think about how to educate our local marketplace. Do you know people that if they truly understood their “equity” position – would they then consider selling their home? Another look at how to start a conversation with hopes of increasing our inventory (vs. traditional “what is my home worth” focus). Continue to approach this market with the “heart of a teacher” – you then quickly become that trusted source. That is what our market needs, that is who you are. Consider using these graphics + talking points below to start a P.E.A.R. conversation…
KCM’s “Foot Traffic” report (***indicator of future sales) reports 2015 over 2016 (February) a 37% greater buyer demand. Not a “stat” to be super excited about – however necessary to understand in navigating.
- 96.5% of WA State homeowners have positive equity in their home
- 80.1% of WA State homeowners have “significant” positive equity in their home (>20%)
- Do they know it? We can help them understand this. CMA less mortgage amount, less costs of sale etc… = equity
- Are there people in your database that need to know this information? Let’s continue to help educate.
***A note on this content: I will often leverage Keeping Current Matters monthly for these sort of talking points, ideas and relevant ways to educate our clients. Steve Harney does a masterful job of looking at our market conditions from national level (macro). I liked this idea of the P.E.A.R. reviews – a little different spin + focus in teaching those about their individual position within the market place. As Steve Harney would tell you there is still a large disconnect in what people believe their “equity” position to be – most do not know – often assume they do. Let’s start the conversations with more potential Sellers – those that are considering downsizing, moving out of town, have the cash flow to upgrade, those sitting on multiple residences, etc.
Good news on inventory (I hope!)| CW Title’s mantra this week is a reminder to please open title early – they are slammed with incoming orders. I’m taking that and running with it – does that mean more inventory on it’s way, fingers + toes crossed! Yes please.
The “art” on gift giving | I tried KNACK myself this week – “easy custom gifting for discerning people.” I knocked off staff appreciation, teacher appreciation (1st + 3rd grade), my sister’s birthday and yes, mother’s day. I had everything arrive today at my office – allowing me to have fun in the delivery. I love to give gifts, yet the time to do it well for me often falls down. KNACK fixed that in both time + inspiration. I’m set. If you too lack the time yet have passion for giving – check it out! And their retail space on Capitol Hill give me reason to take a light rail field trip from UW > Capitol Hill. Join me?
Next week… | See you at the races, looking forward to celebrating 30 years of The Windermere Cup – we are preparing for the athletes to touch down early next week in Seattle – this year we’ll welcome Russia + Stanford University + Cambridge University + San Diego! So proud we are part of this tradition in sport + community. ***client event “shore party” information next to Featured Events.
Here to help, always the ultimate goal. Give me feedback along the way – this content is geared for you – Sand Point + Wedgwood + Northgate + Eastlake + Madison Park + Ballard – our six!
Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.