It’s Friday! | election + bretix + w collection + new wre form + kcm + july 4th holiday + dancing…

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.

A look at Brexit – this week | What we know (and what we don’t know) about the impact of Brexit – a write-up from our WRE blog > click here. Feel free to use this as additional content for your sphere + clients! Anything we write is all yours.
W Collection | Lots of initial chatter about the PSBJ article released this week about the reveal of our new ultra-luxury brand, W Collection. Remember WRE Services new hire, Leigh Canlis? She is the head of Windermere’s luxury division. Leigh will be joining our July 11th manager meeting for our six offices to give us all the details + clarity so that we can properly share with you.  At this point it is a super soft launch (beta, if you will). Once it is dialed in, it will be a program that all WRE brokers will have access to should they want to add to their toolbox. Click here for a look at the PSBJ article. Below are a few key items you should know…
  • 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



Technical Excellence | New WRE Form 41 released > Buyer Optional Clauses > have you digested this yet? If not, we’ve put it in a handy place for you. WORC > office tab (upper left) > Jacobi six > Offer toolkit > Forms By Name > Buyer Optional Clauses | Again, these folders are powered by Google drive – created just for you. I oversee this content + organization. A few of my notes…
  • 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”…
“The new WRE Form 41 permits a buyer to waive their right to terminate the transaction based on review of the resale certificate. A buyer should never waive their right to receive the resale certificate because they have no way of knowing anything about the financial viability of the HOA, potential special assessments, etc. unless they receive it. ***There are some questions about effectiveness of waiver of the right to terminate since the preamble to the Condominium Act contains a prohibition on restricting the rights and obligations created by the Act. However, there is nothing that explicitly states a buyer on their own volition cannot attempt to waive cancellation rights. Moreover, buyers are trying to do this all the time so we decided to include it in the form even though there could be questions between buyer and seller about the effectiveness of a waiver in those relatively rare circumstances where a buyer is looking for an out shortly after receipt of the resale certificate.”LARS E. NESTE | DEMCO LAW FIRM, P.S.
Next week…| Our July neighborhood spotlight newsletter is ready for you – it’s July 1st – right on time!! This month with a focus on Madison Park. As a reminder, this newsletter + content is created for you – your office is ready to automate this process for you. Regardless of market conditions, automation is key – let us help. We’ve hit the half way mark in 2016, dust off your goals, business planning and keep both Neighborhood News (via Moxi) + this newsletter top of mind as two monthly content pieces done for you = more “productive” time with your clients, navigating our local market and enjoying summer! Summer provides us lots of reasons to be “top of mind” (flow!) – enjoy! Lean on us in support.
Song of the week | Can’t stop the feeling – Justin Timberlake > turn up your speaker + click here + be sure to dance, always dance.
Here to help, always the ultimate goal. Give me feedback along the way – this content is specifically geared for you – Sand Point + Wedgwood + Northgate + Eastlake + Madison Park + Ballard – our six! We are grateful you have all chosen Windermere. We are all here to help. Shout if you need anything, have a wonderful weekend in productive work + play.
…and oh, remember that surprise trip I was taking the family on that I couldn’t blog about because my husband Chad actually reads this stuff? A look at our VW “ride” –  slept all 4 of us and our six-month old puppy…we glamped – not doubt. Although here was our first stop, fish tacos and arnold palmers at Rays Boathouse!  And no, I didn’t by these wheels – made a stop at Peace Vans in the Sodo district. Interested? Get on it – they are already booking for summer 2017 – 2016 is booked! Peace Vans

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

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