Welcome to Friday, let’s sweep both the “art +science” this week! We’ll start with the art and wrap with the #’s…
My cup in October is very full. Some would say spilling over a wee bit much (aka, my kids have noticed a bit – I’m listening). I spent last week at our annual Windermere Owners Retreat – focused on leadership with my peers from the greater Windermere network. This week, around a table for our monthly local managers meet up. My bookend to this week with an executive group [ceo’s + key executives all outside of real estate = important ingredient] that I gather with monthly to collaborate and frankly > they coach me. I’ll wrap up October in Spokane for the Windermere Summit.
With these recent travels, meetings, coaching there has been one consistent theme that has risen to the top yet again for me: People first, Business second > the mantra that is my cornerstone to eliminate noise, lessen distractions, focus in the right places and make sound decisions that I believe are best for our people, our brokers and our staff.
Last week in Sonoma, CA I had the pleasure of hearing a story worth retelling – a people first, business second story. Let’s refer to this story as the “plus one” story:
A person is in the midst of relocating to an all together new city. In working with her broker, the broker asked her this question…”what will you miss most about the neighborhood you are moving from?” The person’s answer: “hands down, my butcher and my wine shop.”
Pause. What would you do with this information? Would you immediately send her links to all your favorite butchers & wine shops?
Would you think to do this…
Time rolls on in their home buying process and search. As they begin to narrow down the search, they had narrowed the search down to the last couple of homes and neighborhoods of interest in her relocation. Heading out to view these two homes, the broker pulls her car over and says let’s make a quick stop on our way.
Where did they stop?
The neighborhood’s favorite butcher. The neighborhood’s favorite wine shop. Did the butcher and the people know they’d be stopping by? Did they know the name of the person relocating? Yes + yes.
When we create unforgettable experiences for our people, we often refer to these experiences as a 10 (on a scale of 0-10). This was an 11. This story, was a “plus one.”
Ok, now up for your monthly dose of stats – ready for you to digest. Full reports at Windermerestats.com > password is updated.
Need the password? Text me (206.227.7133) or ask your office!
To accompany the Seattle Residential and Condominium report, here are the quick hitting Seattle monthly talking points…
- Sales are good (pending sales up 10% for September vs last year 948 vs 861). Inventory has stayed flat (1,959 vs 1,965 active at end of the month).
- With sales up and inventory staying flat it would seem good for the sellers, though prices are down 3% from last year. 19% of September closings were for over list price compared to 23% last year, and this compared to the hot, hot spring markets of 2017 and 2018 when 60% sold over list price.
- About half (47.3%) of the properties that sold, sold with less than 15 Days on Market. List price must be close to value to sell (page 5).
- Interest Rates, Interest Rates, Interest Rates… 3.61% vs 4.63% from a year ago (page 5 – “waiting” hasn’t cost the Buyers).
A one percent change in interest rate is a 10% change in purchase price.
Competing for a listing? (educate Sellers on page 2)
- What are the odds of selling: 7 in 10 (70% for trailing 12 months), 3 in 10 are not selling.
- Percentage of Pending Sales that don’t close is ~1 in 6 (16% for trailing 12 months).
Remember, who you hire matters!
That’s a wrap, welcome to Friday! What will be your “plus one” story as we head into a strong finish in 2019 and launch into 2020. I want to know about it! I know your stories exist in the hundreds. This leadership team is in planning season and “plus one” will indeed be a key theme! Let’s go!
People first, business second – in partnership with you.
Laura Smith | Co-owner | Windermere Real Estate Co.
Looking to shift your outlook, shift your business and shift your possibilities heading into 2020 – join me October 24 + 25 at Windermere Summit?
Registration open thru today: here.