Welcome to another Friday together! Before I rattle off another Top Ten list from this week – a few housekeeping items as we approach Memorial Day weekend!

Our offices will close at 3pm today so our broker care support can too get a jump start on the Memorial Day early! Saturday & Sunday we are open regular weekend hours to support you. Monday Closed.

Memorial Day + Computation of Time

When computing time for your purchase and sale agreements, regard this Monday, May 28th as a legal holiday. Memorial Day is a legal holiday under Washington law.

Ok, let’s sweep this week and digest what we can together before we jump into the weekend! I had great feedback last week in providing a Top Ten list in what I’ve noticed. I’m hitting repeat on this approach today – yet with a refreshed list. This Top Ten reflects my week in a 3 hour class on “When Generations Connect” + 3 hour class on “Leadership thru Diversity + and our Windermere Luxury Breakfast focusing on “The Rise of The New Aristocracy” white paper that Luxury Portfolio delivers twice yearly. ***ps, if you’d like a copy of the entire white paper – ping me, I’ll get it to you. It was a great read – and even better discussion

1. Baby boomers. What is our top strategy in working with them? Baby boomers: 1946-1964 – 80 million boomers. Strategy: Step up your professional pride with boomers. How you “show up” matters.  Example – Mark Zukerberg [CEO of Facebook] appearance on tv interview in flip flops wouldn’t cut it in “professional pride” – although notice he was suited in his testimonies before the Senate.
2. Generation X.  Generation X: 1965-1979 – 60 million. Strategy: Be a partner in their process. Be a resource not a salesperson. Embrace their inherent skepticism via transparence along the entire process.
3. Millennials. What is our top strategy in working with Millennials? Millennials: 1980-1995 – 82+ million! Strategy: Customize the experience. Start in understanding their “why” and then “design” the process with them.
4. 92% of Millennials rely on referrals when making purchasing decisions. In 2018 48% of Millennials were referred to their agent compared to 38% of Gen Xers – and less for older.
5. There is another Generation coming into our marketplace in the near future: Generation Edge [called many things to date – Gen Edge only one thus far!], 1996-2010 – 61 million. These people want to feel connected, are tech innate, resourceful, competitive and resilient.
6. LeadingRE: Leading Real Estate Companies of the World. This is an invitation-only membership into the Largest global networks of locally branded, independent brokerages. You are a member by being within our Company. *Be sure you can speak to this in working with Sellers and winning their business. Need help? Ask a Premier director or me. We can give you a crash course quickly as needed!
7. In 2017, personal wealth in the U.S. grew by $8.5 trillion, followed by China with $1.7 trillion growth. The world of wealth continues to grow at breakneck speeds.
8. Luxury Portfolio’s 2018 white paper, “The Rise of the New Aristocracy” speaks to this group “being aged 25-49, encompassing both Millennials and the younger portion of Generation X. They coined the term “New Aristocracy” because this group is unlike any American generation before. They will ultimately be larger in number and greater in economic power than the wealthy in the gilded age of the Rockefellers.”
9. “What does “The New Aristocracy” mean for real estate? Younger buyers who have grown up with wealth have greater exposure to luxury, are more educated and aware of their likes and dislikes. They know brands, they demand quality and they are familiar with real estate.” Solution in working with this group: My humble opinion, I’d suggest strategies 1-4 above are all relevant and they will be asking those they trust [parents] for referrals in who to work with in real estate.
10. tl;dr [*leave a comment in the comment box if you know what this is – it blew my mind this week! Prizes for the first 5 to get it right] Hint hint: this may have applied to this FWL blog post!

Stay curious my friends and have a fantastic Memorial Day weekend in work + play!

Laura Smith, Co-owner | Windermere Real Estate Co.

Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood

#WeAreWindermere

Welcome to Friday everyone! This week I thought to put together a “Top Ten” list of what I’m seeing + hearing in our local real estate market. These subtleties can show us a lot and certainly help our clients pivot as needed and find success. In talking with one of our Madison Park brokers this week she referenced this market in being the hardest she has seen in 27 years…this too coming from a broker experiencing a ton of success in this market.

Let’s commit to our office meetings in diving even deeper into this Top Ten list. Continue to bring your stories, discover the weekly pulse and we’ll all benefit. The education we bring collectively to the market is a point of difference that sets us apart.

1. Seller Expectations. Be sure to ask your Seller prior to going to market…are they prepared to sell for their List Price? A must ask question.
2. Multiple Offers. If you are the Listing Broker, please take the time to call everyone back in a timely manner. This matters. Communicate as if you were the Selling broker with a Buyer awaiting an update. Emotions running very high – for all of us right now. Listing Brokers can help manage this.
3. Offer review dates? Watch + study what is happening each week. This trend could be changing. Let’s talk about it.
4. Running short on time with your pipeline building activities? Answer: Annual real estate reviews – these continue to have the highest ROI in both referrals and CMA requests. Need help in what to include? Click here for a sample step by step guide and suggested content all using Moxi Present. *Commit to two per week.
5. Letters. If you are sending letters in mass to uncover possible inventory – please be sure your letters are speaking to The Truth. “I have a buyer for your home?” – Do you? [as an example] Speaking the truth translates to integrity + professionalism.
6. SOCs. Study the micro market of the property you are bringing to market. Audit what the SOCs are and have been in that area + price point + property type. Know the landscape and be able to “show”/articulate this to a Seller.
7. Historically listings taken and active listings at the end of the month grow from April through July. Hope to continue to see this trend!
8. Historically the majority of the year’s appreciation occurs in the first six months. What does this mean? Buyers may be able to be a little more picky with more listings coming yet will still have to be aggressive with their offers. We aren’t out of the woods there yet.
9. April 2018.  66% of homes in Seattle sold for over list price and 84.3% sold in less than 15 days. These are the properties that sold – keep in mind, not all homes that came to market sold. This market comes down to setting [and resetting] expectations. All April stats here. Password: wremay
10. What have you noticed? I want to hear it. Use the “leave a comment box” upper left of this blog and let me hear it! Together we will continue to navigate the subtleties – week by week!

Stay curious my friends and have a fantastic weekend in productive work + play!

Laura Smith, Co-owner | Windermere Real Estate Co.

Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood

#WeAreWindermere

Welcome to Friday everyone. I started today celebrating the life of Christopher Grimm of our Ballard office. What I took from this special gathering was a reminder of the impact we have in people’s lives. From those 30 second interactions we have with others, to saying hello to someone walking by, to having a drink with girlfriends (yes, I had a chance to do this late last night!) to putting a phone away when we cross the threshold of our front door after a long day. We each make an impact in our walk. It’s a choice and I am grateful for the reminder.

FWL we will feature & hit the repeat button on Episode #9 of my Double Down podcast. Before we do, a quick note with respect to our Brand Reveal and troubles with some of the Custom Xpress flyer templates. Our Tune Up team has been able to clearly articulate to our Marketing Department your feedback. Behind the scenes there is an all hands on deck approach to address anything that needs a fix post Brand Reveal. Custom Xpress who has authorized people to work overtime to help expedite.

I will also say, while out touring this week I’ve seen stunning marketing materials with our new branding marks – Custom Xpress goodness. Plus, a sign of more listing inventory. Well done!!!

If you need help with flyers, Maddy from our Tune Up team is standing by to help:: tuneup@windermere.com is a go-to solution in the immediate.

 Please join me – 34 minutes with David Daniel (Demco), Matthew Gardner (Chief Economist) and co-host, Jordan Malloch as we discuss + comment on Waterfront Seattle’s proposed LID and digest Matthew’s commentary on Seattle’s economy post Q1 Gardner Report – and how this is reflected in our real estate marketplace.

Stay curious my friends and have a fantastic Mother’s Day weekend in productive work + play!

#WeAreWindermere

Laura Smith, Co-owner | Windermere Real Estate Co.

Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood

Windermere Real Estate Co.

Welcome to Friday and the eve of all things Windermere Cup! Looking for all the “know before you go” details – click here. The currency with our new branding marks plastered all of the University of Washington has been fun to see! This weekend is the epitome of community + sport. I hope you take advantage where you can. #WeAreWindermere

Fridays with Laura features Episode #9 of my Double Down podcast. Please join me – 34 minutes with David Daniel (Demco), Matthew Gardner (Chief Economist) and co-host, Jordan Malloch as we discuss + comment on Waterfront Seattle’s proposed LID and digest Matthew’s commentary on Seattle’s economy post Q1 Gardner Report – and how this is reflected in our real estate marketplace.

Stay curious my friends and have a fantastic WRE Cup weekend in productive work + play!

#WeAreWindermere

Laura Smith, General Manager | Windermere Real Estate Co.

Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood