It’s Friday, let’s sweep! | plus one (art) + September #’s (science)

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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.”

numbers

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)

  1. What are the odds of selling: 7 in 10 (70% for trailing 12 months), 3 in 10 are not selling.
  2. 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.

Six

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

Shift

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.

#WREshift

It’s Friday, let’s sweep! | autumn leaves & podcasts please x 3 [pumpkins too]

pumpkinsplease

Last week, I released a series of podcasts: Episode 15-17 were designed for us to continue conversations as we approach October 1st and the upcoming NWMLS rules changes. These 3 episodes were recorded to work best to listen in succession, yet each episode can be digested as a stand alone podcast.

As I roam our offices this week, based on commentary, it appears these 3 podcasts are being digested and the content has been appreciated…so I’m putting last week’s post on repeat. Thanks for “tuning it” and the feedback thus far.

…and an additional note from OB Jacobi in clarification:

“On October 1st, 2019 all listing detail pages on Windermere.com will have a new section at the bottom of the page called “Additional Listings Info” which will note the “Buyer’s Agent Commission” as a percentage. This information is inputted by the listing agent into the NWMLS. This new data point will be visible on both Windermere.com and Agent Website listing detail pages.” – OB Jacobi

A screenshot below is an example of what this will look like…

SOC screenshot

Ok, last week’s sweep on repeat – thanks for “tuning in”! I’ll keep recording as long as I have people willing to listen!

#TheHuman Algorithm #AllInForYou

Episode #15 | Antitrust 101| David Daniel from Demco Law Firm & I brush up on the 101 of antitrust. We dip our toes into a current antitrust lawsuit and why it is a good time for brokers to refresh their understanding of the law and stay current with their practices to avoid copycat lawsuits. A great opportunity to keep education top for mind!

Episode #16 | NWMLS Modernization of Selling Office Commission Rules | With this conversation David Daniel from Demco Law Firm & I hope to break down confusion around October 1 2019 NWMLS rules changes and share best practices. Word of the day = Transparency. Bottomline, that is a good for the consumer.

Episode #17 | Buyer Agency Agreements | Windermere Ballard broker, Greg Lewis mic’d up with manager Darlene Sozinho & I to share his successful use and process with Buyer Agency Agreements. BAAs are often not a tool used in our marketplace (yet) however after hearing from Greg I do believe many of you will decide to add this process into your playbook…and win the day by doing it! Spoiler alert: good for you + good for you clients. A winning strategy for both! Note: within many markets BAA is the norm.

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

Laura Smith

It’s Friday, let’s sweep! | Double Down x 3

wreRealEstate_STKD_Color

This week, I’m releasing a series of podcasts: Episode 15-17 are designed for us to continue conversations as we approach October 1st and the upcoming NWMLS rules changes. These 3 episodes were recorded to work best to listen in succession, yet each episode can be digested as a stand alone podcast.

As we approach a strong finish to 2019 and launch into 2020 my goal is to lead via education, access and collaboration.

 Ps: a highlight of my week was to receive this picture from our Eastlake office. A great example of “why” to show up to the office. Going this business alone is not for the faint of heart. Going this business together is a much stronger strategy. If you are approaching 2020 feeling as if you are going this alone, connect with me. Here to help, alway the goal.

#relationships #collaboration #community #professionalism

All in, for you!

braintrust

Ready to “tune in” to the conversations? Great, let’s go…

Episode #15 | Antitrust 101| David Daniel from Demco Law Firm & I brush up on the 101 of antitrust. We dip our toes into a current antitrust lawsuit and why it is a good time for brokers to refresh their understanding of the law and stay current with their practices to avoid copycat lawsuits. A great opportunity to keep education top for mind!

Episode #16 | NWMLS Modernization of Selling Office Commission Rules | With this conversation David Daniel from Demco Law Firm & I hope to break down confusion around October 1 2019 NWMLS rules changes and share best practices. Word of the day = Transparency. Bottomline, that is a good for the consumer.

Episode #17 | Buyer Agency Agreements | Windermere Ballard broker, Greg Lewis mic’d up with manager Darlene Sozinho & I to share his successful use and process with Buyer Agency Agreements. BAAs are often not a tool used in our marketplace (yet) however after hearing from Greg I do believe many of you will decide to add this process into your playbook…and win the day by doing it! Spoiler alert: good for you + good for you clients. A winning strategy for both! Note: within many markets BAA is the norm.

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

Laura Smith

It’s Friday, let’s sweep! |”Into the golden hour”…

leaves

Welcome to Friday, let’s sweep! We’ve been content heavy in recent blogs and certainly at our office meetings. This week’s sweep is a feel good. And for those of you who are looking for #’s – I’ve got those too. A little something for everyone! First up the feel good…

“A change is in the air; a great mellowing. It’s in the wind, in the earth, inside each and every one of us. And somewhere, not far off in the distance, woodsmoke is seasoning the evening sky.

Each year, autumn arrives all bluster and, like an old friend, invites us to come outside and enjoy a few more days of color and light. In the fall, we watch the sky. We listen for rain. We stop to watch the trees and their painted leaves. We pack away our beach chairs and unpack our woolen socks. We settle into our long pants and our sturdy boots and our trusty old raincoats. We return to books half-read and sweaters half-knitted and favorite old recipes, written in our mother’s hand. This time of year, we remember our love for pumpkin and pecans; we pick barrels of apples and bake with buckets of cinnamon.

Each year, autumn reminds us to return to the routines that anchor our lives in time. We feel nostalgia deeply and embrace ritual fiercely. We go home again. We relive glory days. We gather together in September stadiums, around October bonfires, and at long November tables. And in the shadow of the dimming natural world, we tell and retell tales. 

In this way, every autumn is another turned page, another chapter completed, a bit more perspective on the full story of our lives: the rising and the falling, the discovery and loss, the sacrifice and surprise. And isn’t this he story of all of life, of ends that follow beginnings and then make room for new beginnings? Without this rhythm, this eternal cycle, how could we ever be whole?

So, let’s harvest all the light and life and goodness that we can. Here and now, during the sweet golden hour of the year.words by Austin Sailsbury

numbers

…and for those of you looking for less of the feel good content and want me to show you the #’s > Windermere Stats is updated – here. Next Friday I’ll dive deeper into the digestible bites of those numbers.

*password is updated – text me if you don’t have it – 206.227.7133 or ask your office!*

Tomorrow is Summer Splash! Shout it out via all your social channels! All event details here. Please thank those in your offices that have been driving this =  big + impactful job!

…and there is a new addition this year for those of you who love your four-legged friends: Dog Days of Summer Walk. Register your dog or your clients dogs here!

Your offices have all the marketing pieces at their fingertips – just ask.

Ps, I’m ready to go find a great puzzle as we head “into the golden hour”…

All in, for you.

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

 

 

It’s Friday, let’s sweep! | Refining your Buyer process

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After hours and hours [and even more hours] of thinking thru and discussing with many of you the upcoming NWMLS Rule changes around SOCs, what bubbles up to the top for me is to focus our attention back to helping brokers have, develop and refine your process in working with Buyers. Those that have a dialed in and repeatable process will have continued success.

A few digestible bites in the why to have a process:

Process gives you [and your Buyers] confidence.

Confused buyers don’t buy, they think about it.

 Consistency with your process is a tool that can drive others to refer to you. People tend to refer if they are 100% confident they will be given the same experience.

A process provides you sanity when you are busy.

mic

This week I mic’d several people up on my podcast focused on these 3 topics: (1) Antitrust Lawsuit (2) NWMLS Modernization of Selling Office Commission Rules (3) Buyer Agency Agreements

*These episodes are currently into the editing stage and I’ll release throughout September – strategically pre-October 1st NWMLS SOC rules changes.*

Today however, I’d like to roll back time & re-share Episode #5, Buyer Savvy Strategies. It is worth a listen if you’d like to examine your Buyer process. My suggestion on where to refine your craft is at Buyer intake – the early stages of your process. As always, guide your clients with a heart of a teacher.

Do you have a process? If so, where might you refine it?

Not sure where to start? Looking for a Windermere ProDev class to build & refine your Buyer Savvy Strategies class? Opportunity is here. This clock hour class has been refined to meet the demands of the market. Click for details here.

All in, for you.

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

Laura Smith

 

team

It’s Friday, let’s sweep! | no alarm on Monday + mic’d up all week!

Welcome to Friday! Let’s sweep this week and get ready for September! But first, for those of you involved with transactions before firing up your Labor Day grill & fun…a reminder:

Labor Day |Monday |September 2nd

Computation of Time | When computing time for the purchase and sale agreements, please regard Monday, September 2nd as a legal holiday. Labor Day is a legal holiday under Washington law.

podcast

Next week, I have a very full line up – a line up that will have me mic’d up and editing all week! I will be recording a 3 part series podcast designed for those of you who’d like to listen in on the following 3 conversations…

(1) Antitrust Lawsuit | David Daniel from Demco and I will rehash what this is all about. Good news, we are not involved. Good news, the NWMLS is not involved. That said, this lawsuit is a driving force behind the October 1st 2019 NWMLS rules changes around SOCs. This will be a good place to start and set the table for the following 2 recordings…

(2) NWMLS Modernization of Selling Office Commission Rules | David Daniel will again join me. There is confusion around what is coming. We’ll work to minimize confusion, your concerns and best practices.

(3) Buyer Agency Agreements | Ballard broker, Greg Lewis will mic up with me and round out this 3rd part of my September podcast series. Greg will share with us his successful use and process with Buyer Agency Agreements. I believe many of you will decide to add this process into your playbook…and win the day by doing it!

I’m so stinking excited about next week, I can hardly stand it. Recording podcasts are one of my very favorite things to do – right up there with blogging on Fridays. These are important topics. My goal is to lead us into a strong finish of 2019 thru education. Here to help, always the ultimate goal.

Alrighty! Get those grills fired up and certainly…do not set an alarm on Monday!

All in, for you.

#OffMute #TheHumanAlgorithm #AllInForYou

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

Laura Smith

 

team

It’s Friday, let’s sweep! | Seattle SFH vs Condos – what have you noticed?

numbers

Welcome to Friday, let’s sweep! Today, we’ll pick apart “the science” around our dueling markets within Seattle = Single Family Homes vs Condominiums. “Dueling” may not be the perfect vernacular, however making a point that they are currently different and should be evaluated independently when people ask you “how is the market?”

Hoping these digestible bites help in educating your clients! And oh, when people do ask you “how is the market?” – here is solid socratic response…”good question, which market are you asking about?” Powerful! This response shows you are listening and allows you to give a better response – it’s all about them!

Ps, Thank you manager, Rob Graham for providing these #’s below!

City of Seattle | July 2019 vs July 2018
# of Single Family Homes for sale in  July 2019 compared to July 2018 are up 33.2%
vs.
# of Condos for sale in July 2019 compared to July 2018 are up 74%
Median Home price for Single Family homes in July of 2019 vs. July of 2018 down 5.1%
vs.
Median Home price for Condos in July 2019 vs. July of 2018 down 12.3%
Days on Market for SFH in July 2019 vs. July 2018 up 36.8% to 26 days
vs.
Days on Market for Condos July 2019 vs. July 2018 up 150% to 40 days
Sale price to original list price for SFH in July 2019 98%
vs.
Sale Price to original list price for condos in July 2019 95%
1.7 months of inventory of SFH in July 2019, up 30.2% compared to July 2018
vs.
3 months of inventory of condos in July 2019 up 86% compared to July 2018
megaphone

What have YOU noticed?

I’m interested. Leave me a note in the comment section!

Enjoy another productive summer weekend in work + play. Here to help, the ultimate goal…

All in, for you.

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

HOF

[picture: Baseball Hall of Fame, Cooperstown NY]