Welcome to Friday! Let’s take a sweep of this week + prep for next, together. A quick reminder on “why” I write – a note on leadership…understanding who needs to know what + when people need to know it + why – and then presenting that information in an entirely comprehensible way” – book, Setting the Table. This is my goal with you on Fridays – to “set your table”…
At a glance for this week > the presidential election and how it might impact our housing and economy + Brexit commentary + commentary on the new WRE Form 41 (Buyer’s optional clauses) + Keeping Current Matters with Steve Harney + July 4th holiday and computation of time + a little “song of the week” – why?…because it’s Friday and I like a good song on a Friday – or any day for that matter!!!
July 4th holiday | Let’s start here – what you need to know…
- When computing time for your purchase and sale agreements, regard this Monday, July 4th as a legal holiday. Independence Day is a legal holiday under WA law.
- Offices Closed Monday
- Tuesday WRE Tour | Hotsheet your new listings for Tuesday, 7.5.2016 – let’s continue to support each other in our wre tour efforts – it is a brand point of difference.
The 2016 presidential election will absolutely have an impact on the housing market and the U.S. Economy. What those impacts will be are dependent on who occupies the White House in 2017. A clip in what our Chief Economist, Mr Matthew Gardner has to say about the influence each presidential candidate may have on the market. Click here.
- Like Premier Properties, homes that meet the quality standards and are in the designated price range, will have the opportunity to register for the W Collection. Think of it almost like Premier for homes that start at $2.5 million in Seattle and the surrounding area, and $3 million on the Eastside. The program will have W Collection branded signage and collateral and will formally launch in late September. What has caused some confusion for people is the concierge marketing aspect of the program that Leigh Canlis is rolling out. Here’s an explanation of that: Brokers that wish to pay for added marketing support (not things like flier creation, but rather high-end branding, events, vetted services, and much more) will have the opportunity to “join” and pay a fee. We are still working on all the details of that and will be slowly rolling it out. More to come on that soon. This program is in no way shape of form exclusionary – instead a soft launch (beta) program. The W Collection is meant to service a specific segment of our clientele. What it comes down to is that we are answering the call to compete in the ultra-high end market that has emerged in the greater Puget Sound region.
Market “science” sound bites | June Keeping Current Matters with Steve Harney | A few of my favorite slides from the June KCM webinar, talking points and story telling…
- Moving away from “recovery” commentary to “expansion”…
- Images below showing current + projected year-over-year % in pricing
- A conversation of “Seller pent up demand“…”historically in this country, from 2001 to 2007, people would stay in the house they purchased about 6 years. That number since 2007 has risen pretty dramatically to 7, then 8, then 9, then 10 years (for good reason – the economy wasn’t good). People really couldn’t make the move. Some people were under water. They couldn’t afford to make the move. Some people were just nervous about their job and couldn’t make the move. But what we saw last year is 10 went to 9 years. People started selling again. I don’t know if we’re going back to 6 very quickly. But, I do think there are a bunch of people that stayed in their house longer than they normally would, and some of those houses are going to come to market over the next eighteen months.” – Steve Harney
- We will not be hosting this new form on the NWMLS – instead we see this a competitive advantage
- Form 41 should marry all other terms from PSA
- Best use, copy and paste what specific verbiage you need on a NWMLS Form 34 – my opinion, when used in its entirety it could leave open discussion from a Seller wondering why a perspective Buyer “isn’t waiving this or that?”
- This form could be used as a conversational piece during your initial buyer intake phase – a “show” piece in what it takes to compete and survive this market. Might as well find out early if this is the right time to dive in or be on the sidelines.
- Commentary from Demco specific to item B3 – on “waiver of NWMLS Form 27 Condo Resale Certificate”…
Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.