It’s Friday, let’s sweep! | Podcast Episode #10 | Double Down

Welcome to Friday, let’s sweep! This week is Episode #10 of my Double Down podcast – doubling down on a “legal bite” and an “idea worth spreading.” This month the focus takes us back to summer for a minute – to the July 1st 2018 effective date of the new Washington Uniform Common Interest Ownership Act (governing common interest communities, or “CIC’s”), and also we discuss the ins + outs of our houseboat (floating home) communities. And if you make it to the end of Episode #10, you’ll enjoy a good story on “fabled service”…an excellent reminder that our service becomes our brand!

This week I attended the 2018-2019 Core Curriculum [Current Issues in Washington Residential Real Estate] taught by Demco Law Firm in wrapping up my license renewal. The content was timely in that the first teaching point within our CORE curriculum mirrors the CIC “legal bite” within this podcast. After reading the NWMLS legal bulletins, reading Demco’s legal bulletin, and recording a podcast…it wasn’t until attending CORE that I had the “ah-ha” as to why Washington State went to such great lengths to add this new “CIC” law – as of July 1st 2018.

Here is the “why” I stumbled upon = Washington State’s goal with this new Act is to fold single family and townhome communities into a framework of legislative protections that we have already become familiar with when dealing with condominiums. The new law broadly covers new CIC’s with shared expenses (including cooperatives, plat communities, and condominiums) as well as any pre-existing community that may choose to opt-in to the new law.

Ok, now for the WHAT before you tune into our podcast conversation…(Note: The new CIC Act does not apply if there are 12 units or less AND average annual assessments of $300 or less per unit.)

1. Public Offering Statements (POS’s) or resale certificates (RC’s) will be required for the sale of all new or resale homes within CIC’s, including covenanted communities with shared expenses – not just condominiums. *Similar to current condominium law, buyers of a CIC unit will have a right of rescission after receipt of POS (7 days) or RC (5 days).

2. It will be relatively easy for many existing communities to become a CIC subject to the new law. With some exceptions (such as for existing condominiums) if after proper delivery of notice 30% of unit owners participate in the vote and 67% of those who vote approve, the new law applies.

3. The new law will enable communities to impose rental caps at a 67% approval threshold as opposed to the more stringent 90/100% approval threshold under the 1990 Condo Act..

4. Condominiums under the new law (but not other CIC’s) will still be subject to extensive warranties of quality as have been required under the 1990 Condo Act.

5. Sellers and their brokers will need to disclosure whether or not a marketed property is a CIC subject to the new law. Brokers are advised to check title when taking a listing (even on an older property) to see if a property may be subject to the new law.

Enough of the “dry” stuff, let’s get to the conversation! Thank you once again David Daniel, Darlene Sozinho and Mary Durkan for getting mic’s up and sharing your best radio voice with us!

*Ps, Being that license renewal is top of mind for me today, a good time to point out the CORE curriculum I referred to above is THE 3 clock hour class REQUIRED every time you renew your license. **This is different from your REALTORS membership requirement in taking Ethics. ***Ethics can be used however towards your elective clock hours. ****NOTE: you are setting out on your FIRST license renewal – be sure to connect with your manger to be sure you are tracking in the right direction + requirements.

Hope you enjoy the podcast conversation! Next up in November I’ll have Madison Park broker, Catherine Adams mic’s up to chat about this changed(ing) local market! We’ll tap into her infinite wisdom.

#alwayslearning #doubledown #innovation #play #wearewindermere

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

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

It’s Friday, let’s sweep! | A Symposium Top 10! What was yours?

Welcome to Friday, time to sweep! Arriving home post Windermere Symposium from very sunny Palm Springs calls for another Laura Top 10 list. Let’s jump right in…wait, wait, wait – before I do, please also jump in on this blog post and add to this Top 10 conversation  via the comment section of this blog – to your upper left! What is your Top Ten list? I want to know! Even if it was “just one thing”…

  1. On getting bored. Ballard broker, Bob Melvey’s quote as we were making laps in the lazy river post class…”you’ve got to get bored to get creative.” Yes, a key theme in why to take advantage of getting away from the office and participating in events like Symposium. Getting away to learn, connect and get inspired is what we did this week!
  2. On quality of communication. Remember what I had shared a few weeks back on quality of communication…7% words + 38% pitch/tone/tempo + 55% body language. Try this on for size…consider a witness on the stand – saying the below sentence – 7 times – each time the accenting a different word. “I didn’t say he shot his wife.” Turns out, this sentence would have 7 different meanings! The power of communication at work.
  3. 89% of Buyers and Sellers want what from their broker? Answer is: see bottom of blog post!
  4. Two things people want in negotiation? Answer is: see bottom of blog post!
  5. Most effective communication? Answer is: see bottom of blog post! *ps, this answer should not surprise you however important to keep top of mind! Especially when the stakes are high.
  6. On real estate reviews. Fantastic time of year to work on annual real estate reviews! This activity has THE highest ROI (return in investment). The reason most people shy away from doing them – they don’t know how. I will be delivering each of you a step-by-step “how”. Ps, once your template within Moxi Present is complete (2 hours in prep – give or take) this weekly activity should only take you 5-15 minutes to complete. Did I say…this activity yields the highest return on your investment? Goal = 2 real estate reviews per week. I’ll help you get there in showing the “how.” Stand by!
  7. An idea. Ask your financial advisor if they provide real estate commentary to their clients within their Annual Financial Statements. Wouldn’t someone want to know how their real estate portfolio is doing along with all other investments? Suggestion…”would it be helpful if I provided you Annual Real Estate Reviews” for your clients?
  8. Be different than the other 94%. ZillowGroup’s Consumer Trends report uncovered these staggering facts in broker contact after closing. Of the 13,249 households interviewed: 74% of brokers were never in contact after closing; 20% occasionally and 6% regularly. Storytime: Lee Cockerell (Executive VP Disney)…”my wife and I have purchased 11 homes in our lifetimes. We’ve never once had the Realtor connect with us after closing.” Ps, what you should know is that Lee interviews 3-4 executives monthly. Holy cow! Opportunity for strong referrals? Heck no if you fall into that 94% transaction mindset trap. Be the 6% – referral mindset.
  9. On your Windermere Retirement plan. I was able to secure and set up SIX in-office LIVE Nationwide education sessions for next week. Your manager has our schedule and will be sending you times & locales – Wednesday (Oct 24), Thursday (Oct 25) and Friday (Oct 26) of next week. If you cannot attend your office session – feel free to join any of the other 5!

10. On being a duck. We practiced “being a duck” in class and in the pool this week. Looked who joined us to “show” us how! Calm above the water and working hard below!

It’s amazing what can happen over a couple days away from the offices surrounded by great people, learning opportunities, networking, palm trees, sun, time to simply breath…and hopefully “get bored” just enough to ensue creativity. For those of you who joined us this year at Symposium, I am hopeful you have returned refreshed and energized. For those of you who could not join this year – I hope you chose to do so next year!

Reminder to add to this Top Ten list in the blog comment section…upper left!

And oh, can’t forget #11 – a special thank you to Michael Nelson and David Updike for opening their Palm Springs home to us Monday night. A stunning night, together…the best “meetings” of Palm Springs – hard to top that!

#alwayslearning #grit #innovation #play #wearewindermere

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

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

#3. Answer is: Negotiation Skills – another plug for this book, Never Split the Difference

#4. Answer is: Be understood and heard

#5. Answer is: Face to Face. Let’s not make this a lost art!

It’s Friday, let’s sweep! | The Fall colors of our local market

Fall colors are changing along with our market…a shift to “healthy.” I like healthy,

SEPTEMBER MONTHLY TALKING POINTS

Full Reports, click here. Password protected. Text me if you need it! 206.227.7133

Seattle (based on Residential and Condominium report):

Buyers today may be concerned their new purchase could be less in the future than what they paid for it. Time is on their side.

How do people that bought a home in 2006 through 2008 feel today?

What do you get in exchange for taking price risk?

Selection

Time to decide

Contingencies

It is OK to buy if:

You like the location

You can afford the payments

You are going to live there six years or longer

Consider using the weekly statistics to get uber micro, as needed with your clients! | click here

Ps, keep in mind jobs are key to driving our real estate market. A recent article on LinkedIn shared that hiring in Seattle is UP 6.6% from August 2017. Notable + interesting!

…and being that we are speaking to working with Buyers, I’m going into my archives and re-posting Episode #5 of my Double Down podcast. If you are feeling you want to tool up in your Buyer Process, this 33 minutes podcast with brokers Kristin Munger and Greg Lewis may just inspire! And for those of you who will be joining me at Windermere Symposium next week and are attending my Buyer Savvy Strategies class you’ll get the live version with BOTH Kirstin, Greg and myself.

Wheels up for me this Sunday morning to Palm Springs. Symposium is sure to bring fun in chasing the sun, learning, networking! I’ll see many many of you there! Thank you again to Michael Nelson + David Updike for opening your backyard to our six offices Monday night!

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

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

It’s Friday, let’s sweep! | 20+ year roll call…

 

Hello Friday! This week’s sweep is 100% rooted in celebrating those of you who have been with Windermere for 20+ years within our six offices. This week, OB + Jill + I hosted a party to raise a glass with you. We host this party every other year. Heck, next time we host I too will be a 20 year inductee  – how did that happen – where did time go?Lucky us, lucky me.

This group of brokers + staff have set the stage for the rest of us and have built a very proud + strong foundation – one to build upon for generations to come. I absolutely loved our evening together. The food + drink + setting were good although you were that special ingredient that made it all come together. Cheers, again! And thank you.

A special Friday roll call…

Aaron Fredrickson

Alison Moceri

Barbara Cahill

Barbara Shikiar

Barrick Benson

BethAnn Warner

Betsy Chamberlin

Bill Lemcke

Brenda Dimond

Brent Sanders

Brian Steiner

Carl Thorgerson

Carmen Gayton

Carol Yamamoto

Carolyn Erickson

Carolyn Holm

Catherine Adams

Cathy Cowan

Cathy Millan

Charlie Cowan

Cheri Adams

Cherie Keller

Cheryl Jones

Christine Reis

Dale Kaneko

Dan Wallace

David Hale

David Prater

David Rush

David Updike

Debbie Culp

Dick Carruthers

Donna Lindsay

Eileen Lindsey

Fran Lilleness

Gary Thompson

Georgia Selfridge

Gloria Jackson

Greg Lewis

Gregory Stamolis

Gunnar Hadley

Irma Suntay

Jason Viydo

Jill Cunningham

Joie Gowan

Judy Striker

Katharine Gibson

Kathryn Hinds

Kathy Macduff

Keith Nyberg

Kelly Blake

Ken Shiovitz

Kristi Johnson

Laura Bethel

Lee Whalen

Leslie Manchester

Leslie Reed

Lilliann Milic

Lisa Long

Lise Wang

Liz Suver

Maria Rippee

Marilyn Wick

Marina Vitasovic

Mark Hobbs

Marsha Nemitz

Marshall Airey

Mary Abbott

Mary Gibson

Matthew Townsend

Michael Bill

Michael Nelson

Michael Ravenscroft

Michael Woods

Michele Layton

Monte Swears

Nan Menard

Nick Upshaw

Pamela Johnson

Patrick Craft

Patrick J. Corr

Paul Simpson

Paula Knopf

Phyllis Allison

Phyllis Hanen

Rena Ritchey

Renee Menti Ruhl

Rick Lubov

Bob Melvey

Sandra Pappas

Scott Anderson

Scott Malatos

Scott Whaley

Stacie Youngblood

Steve Blackbourn

Steve Senescall

Sue Bethke

Sue Rockwell

Susan Sellin

Susan Stocking

Ted Allison

Ted Alton

Terri Maloney

Thomas Moorman

Tim Feeman

Tom Lavigne

Tracie McGovern

William Garrison

…And thinking ahead to our NEXT roll call – for those of you joining me at Symposium, this is our Monday night. Thank you to Michael Nelson + David Updike for opening up their backyard to our six offices! It’s a party along with some sunshine!

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

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