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.
- 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.
- 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.
- Offer review dates? Watch + study what is happening each week. This trend could be changing. Let’s talk about it.
- 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.
- 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.
- 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.
- Historically listings taken and active listings at the end of the month grow from April through July. Hope to continue to see this trend!
- 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.
- 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
- 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