It’s Friday, let’s sweep! | Looking for a 2017 crystal ball…

Six,

Well that was more fun than I could ever have imagined! Thanks to you all that joined last night’s holiday festivities at The Rainier Club – the snow certainly add a touch of “magic” to the night! We hope you enjoyed yourself. Yes, I promised many I’d be on the dance floor and yet I didn’t even make it there – oh my! Instead, the conversations I had with you captured my attention. I loved every single minute. Left with a festive full heart.

Ok, let’s take a quick sweep and see if we can’t digest another bite or two before year end

This week, Inman News published: “8 experts predict what the 2017 housing market has in store” – indeed, the time of year where everyone looks into the crystal ball hoping for clarity. These key takeaways should now sound familiar as we look to 2017 however important to keep top of mind and consider several opinions…

Click here for full article, Inman News.

Key Takeaways

  • Mortgage rates are likely to continue to increase throughout 2017. No surprise at this point!
  • There will not be any easing in inventory, and affordability will still be a challenge in big markets.
  • The potential is there for a large number of first-time buyers to enter the buying market, but they will face new challenges.

Keeping Current Matters (KCM) | Last week I spoke of what Steve Harney is talking about in his macro (national + regional) analysis of the housing market. One slide of particular interest to me is his “Historic Data fro the Mortgage Credit Availability Index.” Good conversation piece for those fearful we are heading into dangerous waters…

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…What does this graphic tell us? For people making the argument that we’re back to 2006 and we’re heading in dangerous water –  based on this data, no – that is not true. This graph goes back all the way to June 2004. The higher the graph, the easier it was to get a mortgage. The line all the way to the right is getting higher; there’s no question about that. But we’re nowhere near where we were in 2004, 2005 and 2006.

NOTE: Next week, Steve Harney’s December KCM’s Monthly Market Update will launch + I will be sure to include his key year-end takeaways next Friday. Goal, educate our people = you then become the trusted source. Everyone is looking for a crystal ball – we’ll do our part.

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The local “science” – thru November 2016

Click here for NWMLS Market Update, metro Seattle

Click here for NWMLS specific area reports

That’s a wrap for this week, back to it next week. Shout if you need anything, here to help. In continued partnership with you + so glad to be…

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

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holiday…and oh what a fireplace + party that was last night!

 

It’s Friday, let’s sweep! | game face + the big 3 questions + tis’ the season…

Six,

Welcome to the end of this week, prep for the next week and anticipation for the coming holiday season – wait, it really is here – in full force! More on that in a bit. In the immediate, we are t-minus 60 minutes to the kick-off of the Pac 12 Football Championship. Why the heck Laura do you care? Answer is: I love the Huskies, sports fan of just about anything and yes, Windermere is sponsoring this showdown. Looking to get your game face on and see our co-branding? Turn up your speakers + check this out – click right here! Go DAWGS!

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On a real estate front, I have three topics for us to keep top of mind as we prepare for 2017.

  • What are brokers doing to attract/work with first time buyers (specifically, Millennial)?
  • How are brokers addressing rising interest rates? (Note: my trusted sources to date all speak to it being unlikely that they will come back down). The historical lows have left the station!
  • Buyers are starting to push back on list prices. What are listing brokers doing to keep Seller expectations in check?

Next week – more commentary on the above big 3 questions! Look for it, on Friday’s sweep!

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On the holiday season front, tis’ the season for many of us to host and attend holiday parties. Keep in mind how real estate is a very social topic. We’ll all be asked, “how is the market”? How we respond becomes that 30 second interaction in being a trusted source. One of my favorite sources to obtain my monthly “30 second” sound bites when asked this question is the content Steve Harney (Keeping Current Matters, KCM) releases monthly in his Monthly Market Reports (the 10th of every month). Next week I’ll be shouting out a few more talking points to make us all feel a bit smarter + more confident – in the immediate, feel free to check Steve out himself. Click here for a quick link to his 14-day free trial. If you do it, spend 32 minutes and watch his Monthly Market Report. I have no doubt you’ll feel smarter…and more prepared for those “how is the market” questions at the holiday parties! Or…you can wait for my monthly synopsis and analysis as Steve breaks it down for me. Your call – either way, I do feel his content is solid goal. Yes, the KCM content is national/macro in nature – our job then become to educate our people at the hyper local level with our mls/trendgraphix tools. Here to help, just ask!

…and a few snapshots of moments from our Windermere holiday parties – this week! Enjoy your celebrations, traditions and I do hope to see you at The Rainier Club next week – time to get festive, eat, drink, dance and be merry. Again, I’ve been able to connect with so many of you this year and yet there are so many more! Please come say hi. Drinks & dinner on OB + Jill + I.

And if you are up for it, I’ll meet you on the dance floor! Who is IN?

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(Chad and I behind the bar! Wedgwood reacting to white elephant gifts too inappropriate for me to post! Our super six all staff gathering for our first annual holiday party – loved every minute!) More festivities to come…see you soon.

In continued partnership with you + so glad to be…

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

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It’s Friday, let’s sweep! | Digesting a pause

Six,

It’s Friday, the day after Thanksgiving…where in our home the leftovers win the fridge space, collegiate football rivalries take intense shape and we all enjoy a pause with our friends and family. This week I certainly do no want Fridays With Laura to disrupt your peace and pause this holiday weekend. I do however want to give a shout out to you – those 49 people that tune in to FWL weekly. You have chosen to “follow” these digestible bites and I am thankful for that, I am grateful for you. I absolutely love to bookend each week spending time in digesting the current week, preparing for the next and writing about it. For now, a simple thank you for being an awesome part of my world, challenging me and making me better – one week at a time. As Fridays comes to a close, a hello from my “pause” with my family on Whidbey Island…

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On a quick real estate bite – keep in mind, Thursday and Friday of this week are legal holidays when you are pondering contracts  + Computation of Time. Shout if you need anything – yup, from the beach – here to help.

And by the way, when you’ve had your fill of leftovers, football, family friends, a good book and shopping I suggest a fantastic podcast, “The Tim Ferriss Show” – my favorite right now. This content is an excellent addition to your “pause.” Currently playing on my headphones – “The Art of Storytelling and Facing Malcolm Gladwell in a Fist Fight.” Earlier today when getting my workout in, “David Heinemeier on Digital Security, Company Culture, and the Value of Schooling.” You can see, the content vast – all of which keeps me learning and maintain an open mind in all things…

Committed and in partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

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It’s Friday, let’s sweep! | a smile+ let’s talk title “resource” + a dance offer + gobble gobble

Six,

Welcome to Friday! A few items to digest this week as we prepare for a hopeful “pause” together next week and focus on all things good in life!  Let’s take a quick sweep…a smile + a “talk title” resource in “how to sign” + a dance offer – certainly dinner + drinks as a minimum…

Let’s start with a smile! An Amazon “smile”… amazon-smile-logo-01-01

Did you know when shopping on Amazon you can connect your shopping to giving back to the Windermere Foundation? Or choose another “gifting” location! smile.amazon.com is your go to for shopping with a smile – very cool. If your Amazon habits are anything like mine, you too will be making an impact in giving back – ok, no judging!

 

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Let’s talk Title – How do we sign? | CW has put together a fantastic one-pager on “how to sign” – from all things > pending probate + a lack of probate + a trust in title + a power of attorney + a corporation in title + a LLC in title. One option (always) is to pick up the phone and ask Craig or Michelle when clarification is needed. Or use this cheat sheet as a resource + reference tool. Pretty good addition to our toolbox. Click here and have a look! And if you haven’t perused CW website in awhile (or ever) – wholly smokes, I was actually blown away by the content and resources. Click the home page here – then jump to “resources.” I think you’ll be impressed. I sure was.

 

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Let’s talk about a party! | I really do hope to see you on December 8th at The Rainier Club – let’s get our holiday swag on, eat, drink, dance and be merry. I’ve been able to connect with so many of you this year and yet there are so many more! Please come say hi. Drinks & dinner on me;) And if you are up for it, I’ll meet you on the dance floor! Who is IN?

…and as you prepare for the Thanksgiving holiday next week, please know that I am grateful for what I get to do and the people I get to do it with – yup, that is you.  And oh, next Thursday + Friday are both “legal holidays” when computing time on your contracts – indeed, it is real estate we do – mixed with fun + connecting along the way…

In continued partnership with you + so glad to be.

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

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It’s Friday, let’s sweep | navigating change

Six,

What a week. Let’s start here. Thank you to anyone and everyone who has ever served our country in uniform. Thank you. Honoring all who have served – Happy Veterans Day.

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Computation of Time + Veterans Day | A reminder, when computing time for your purchase and sale agreements, please regard today –  Friday, November 11th as a legal holiday. Veterans Day is a legal holiday under Washington law. ***also, a banking holiday.  Commissions processed via ACH will be delayed a day – a note from Accounting.

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The “science” – thru October 31 2016 | Of particular interest this week is to again shout out our newly formatted statistical reports. Alongside these newly formatted reports, the normal reports remain as we look to improve on all. You’ll notice significant graphical enhancements along with improvements in actual data + talking points. Our In-City offices alongside our Eastside counterparts are working in partnership to improve all going into 2017…and you can help (if market “science” is your thing)! I want your feedback. How? ***Please consider sending me (via email) PDF of reports marked up with suggested changes…Click here to take a test drive, digest this info and hopefully use with your people. (metro Seattle)

Click here for NWMLS specific area reports. NOTE: Individual NWMLS areas reports will be available in 2017 with the new formats.

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WORC WORC WORC | Last week in your inbox you received a memo regarding significant updates we have made to our WORC Tools.  As most of you are aware, the OLD WORC site is being decommissioned and we are replacing several of the remaining tools – this is a good thing.

This week we released both new + improved WORC Tools focused on the following:

  • UPDATED ROSTER – Includes a variety of features enabling staff to perform almost every administrative function while allowing Agent/Brokers to control more of their Windermere profile.
  • MODERNIZED PHOTO GALLERY – Photo Gallery permits enhancements to listings beyond MLS restrictions helping to differentiate listings on Windermere/Agent and partner sites such as Zillow.
  • HOTSHEET (OFFICE TOUR TOOL) – New to market properties can be easily added, searched, and outputted for use during an office tour.
  • NEW WINDERMERE IMAGE VIEWER – Expanded and improved way to showcase images on Winderemere.com and Agent Websites.

***Your branch support is aware of all of these changes. They are ready for to answer your questions, help &/or find additional resources (answers) while we navigate change.***

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Packing your parachutes | Last week I gave one example of us planning for packing your parachutes in 2017. The example I gave was in leveraging our Tune Up team in training (&/or “tuning up”) your assistants. Good news, I circled up with Karen this week and went through a list of brokers in our Company that I was aware of that currently have assistants. Turns out, Karen knows all of them and has already been working with your assistants when they’ve had a need &/or in on-boarding. That made me very happy. That said, if you do have an assistant and we have not identified such – again, feel free to lean on us to keep them up to date on our tools & resources. And if you are looking to hire an assistant in 2017, know that we’ll work to make that on-boarding as smooth as possible.

…Again, why do we care to focus on this? Because we understand where your “productive” time lies – it is with a client + contract or it is the time you spend in creating more opportunities to be in front of a client + a contract. Period. Your productive time is not in training an assistant. We know our Windermere tools well, we know how to get the most our of our Windermere tools and we have resources to help us help you. So there you go, leverage the Tune Up Team – whether you need help or would like your assistant to get “tuned up” – just ask. Fantastic time of year to do so. Email: tuneup@windermere.com

Navigating change | And yes, hard to “sweep” this week without referencing on some level our election. “The American people have spoken and they have elected Donald J. Trump as the 45th president of the United States. Change was clearly demanded, and change is what we will have.” – Matthew Gardner. We will continue to leverage having a chief economist on staff at Windermere to guide us through changing times. In the immediate, Matthew’s blog post The Trump effect. How will it impact the US economy and housing (click for full post)?” serves as the first page of a new chapter…

Committed and in partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

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It’s Friday, let’s sweep! | commitment + partnership + parachutes + Seth Godin

Six,

Returning home and back to the offices after two days with our managers in planning sessions mixed with fun. Indeed, I woke up smiling this morning. To boil it down, two things come to mind when I think of our leadership team – committed + in partnership with each of you. I already knew this, these past 48 hours confirmed such.

Do you remember the story of Captain Charlie Plumb – the Captain I met earlier this year at  Miramar Officers’ Club in San Diego (yes, home of Top Gun)? A quick refresher (and as it related to our recent planning sessions)…his story in a bite-sized piece – Captain Charlie Plumb graduated from the Naval Academy at Annapolis and went on to fly the F-4 Phantom jet on 74 successful combat missions over Vietnam. On his 75th mission, with only five days before he was to return home, Plumb was shot down, captured, tortured, and imprisoned in an 8 foot x 8 foot cell. He spent the next 2,103 days as a Prisoner Of War in communist war prisons. Ever have a bad day? This story certainly keeps perspective for me.

I am not often speechless, after listening to Capt. Charlie Plumb – indeed I was speechless. He described the most important person aboard the naval carrier to which he took off from on that day, on his 75th mission – with only 5 days before he was to return home. He described the person who packed his parachute.

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Ok, how this related to us in the immediate? Our planning sessions with you top of mind for 2017. We are in the midst of packing your parachutes. This will be a continued theme as we head into the New Year. Packing your parachute with ways to help articulate your value + adding tools to your toolbox (example more statistical reports each to shout out to your people) + continued engagement with each office via advisory + more ways to leverage our Tune Up Team, ideas worth spreading in adding “profit centers” to your business planning + big Windermere picture – strategy + action in continued relevant & impactful brand awareness, regionally.  Let’s give you one idea in the immediate in us packing your parachute – via our Tune Up team….

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Do you currently have an assistant? Have you considered hiring an assistant? Maybe this is a thought for 2017? Consider leveraging our Tune Up Team in training your assistant. Karen + Pattie + Maddy are ready to help. They are currently already helping several of our broker assistants. Why? Because we understand where your “productive” time lies – it is with a client and a contract or it is time spent creating more opportunities to be in front of a client and a contract. Period. Your productive time is not in training an assistant. We know our Windermere tools well, we know how to get the most our of our Windermere tools and we have resources to help us help you. So there you go, leverage the Tune Up Team – whether you need help or would like your assistant to get “tuned up” – just ask. Send an email to tuneup@windermere.com, describe what your request is and we’ll work to make it happen. Fantastic time of year to do so.

The Tribes We Lead – Seth Godin | TED > In prep for our managers retreat this week – I challenged OB + Jill + Jordan + Rob + Steve + Dave + Michael + Darlene to watch this TED Talk, from Seth Godin (love him!). Indeed, on the surface this TED Talk is a natural fit for leadership, although I would argue each of you are leaders within the real estate profession and the communities you serve. Seth articulates so well a story of connecting + a story of being committed + a story of challenging the status quo + a story of a mindset in pioneering ways to create & spread ideas worth sharing. Ultimately he challenges those watching, to create something that matters. In the coming weeks, months, years who will you connect with in your communities & in your sphere and how will you deliver a client experience that is at the highest level of professionalism in your marketplace? And will it be an “experience” to which your clients with “spread”? Have 17 minutes and 19 seconds? Seth will inspire you, he did me. He did us. Click here if up for the challenge!

Ok, that’s a wrap from this week’s sweep! And oh, it is our last couple week’s in filling the bins in our “we’ve got you covered” winter drive – let’s see if we can’t make push to help the nearly 1,000 young people in Seattle that are homeless. Gentle Giant will make pick up at each of our offices on November 14.weve-got-you-covered_graphic

Committed and in partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

…off to go make this girl feel very loved + special on her 8th birthday!

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It’s Friday, let’s sweep! | nwmls fine notices + gardner report, Q3 + we’ve got you covered + #boss, #spicegirls

Six,

Welcome to Friday! A few items to digest this week as we prepare for another productive week ahead – let’s take a quick sweep…as this beautiful Friday afternoon + evening awaits us all!

NWMLS Fine Notices | What have I noticed? Yes, indeed – brokers are being fined when not including Legal Descriptions – they are not kidding around about this one. It is minimal compared to other more costly fines however I hate to see anyone get fined – especially when the Legal is most likely in your file;) ***of particular note, I’m noticing some NWMLS compliance emails landing in your “clutter” and even sometime “junk” email – which then would put you at odds in typically doing anything to remedy a fine. If you see any communication direct from the NWMLS in “clutter” or “junk” drag and drop into your “inbox” and your email will be smarter (we train our inboxes with this action of dragging + dropping!).

Note: if you do receive a NWMLS fine – do try to play the card “this is the first time it has happened” card and often they will waive upon first offense – doesn’t hurt to ask!

The Gardner Report | Third Quarter 2016 | Washington Real Estate Market Update

Click here for the Matthew Gardner’s full report– Economic Overview + Home Sales Activity + Home Prices + Days on Market + Conclusions…

Keep in mind, this “science” is put together to help us stay on top of our game however also for you to share with your clients. It always matters “who says it” – might as well leverage an in-house Chief Economist. Need help implementing? Just ask! 

…”This speedometer reflects the state of the region’s housing market using housing inventory, price gains, sales velocities, interest rates, and larger economics factors. For the third quarter of 2016, I am moving the needle very slightly toward the buyers. This is entirely due to the recent increase in inventory levels that I believe will continue through the rest of the year. That said, the region remains steadfastly a seller’s market.” – Matthew Gardner, Chief Economist – Windermere Real Estate

We’ve Got You Covered | It appears we are doing some good in our winter drive thank you everyone! Gentle Giant moving trucks will arrive our offices on November 14th to collect our goods – new hats, scarves, gloves/mittens, and warm socks for YouthCare, a non-profit that provides support and services to homeless youth throughout the Puget Sound area. There is still time to shout this out to your people and use our offices as drop off locations – or, an opportunity to go pick up a few items from your clients, sphere etc…win/win – yet another reason to see great people this time of year! Your offices have marketing materials (done for you) should you choose to share with your database, social media efforts and the like.

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Halloween Fun! | I couldn’t help myself as we prepare for Halloween this Monday. Our Ballard office got a head start today with their costume contest – it has nothing to do with real estate (everything to do with their office community) and I had to share! #Boss, #SpiceGirls

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Have a wonderful weekend in both productive work + play, here to help – that is the ultimate goal. My cell – 206.227.7133 – feel free to give a shout if you need anything.

In partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

 

It’s Friday, let’s sweep! | Inman + We’ve Got You Covered + “Ideas Worth Spreading”

Six,

Wow, we had an incredible presence this week at Inman’s Luxury Connect! This must be shouted out today. The roughly 55+ Windermere brokers who made the trip to Beverly Hills represented us all so very well + made an impact. The theme this year: Embracing Uncertainty. How to thrive in a shifting market. Sounds like a fantastic + relevant topic to me. Over the next few week’s I’ll be asking those that attended this year for their golden nuggets to share. I’ll add these “nuggets” to my Fridays With Laura along the way – stay tuned…

…what I do know in the immediate, Leigh Canlis made us all proud and nailed her presentation of our W Collection to the 600+ audience. High five Leigh!

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***a few pictures of the gang representing Windermere at Luxury Connect. Plus a quick blurb below that described one of our brokers experiences (again, more to come in what was learned so that the rest of us can begin to digest!)…

“For myself just getting to hear about and understand where some of the other markets in the country are and being able to speak face to face with so many at once was great. It really does mean Connect as I found some great people to pass some business to when the time comes. Windermere cocktail party was fantastic and also felt that the connections and friendships made there will be lasting and successful for all.” – Mark Williams, Sand Point broker

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Hopefully this week you noticed a new piece of furniture/décor landed in your office – a new bin ready to fill to help us do our part in a “We’ve Got You Covered” winter drive. Our six offices are participating – clients can drop off anywhere (Sand Point, Wedgwood, Northgate, Madison Park, Eastlake or Ballard). I’ve already heard of some wins in brokers planning to pick up items from their clients homes too! This is all in conjunction with our #tacklehomelessness pursuit. Marketing materials are ready + done for you. Just ask your awesome staff, there will help.

From October 17 through November 14, we are collecting new hats, scarves, gloves/mittens, and warm socks for YouthCare, a non-profit that provides support and services to homeless youth throughout the Puget Sound area. Each night in Seattle, nearly 1,000 young people are homeless. Let’s help them stay warm during the cold winter months by dropping off your donation to our offices during the drive.

So there you have it, a great week – from beginning to fill the bins at our offices for our “We’ve Got You Covered” winter drive to Windermere being very well represented in Beverly Hills at Inman’s Luxury Connect. Lots of wins. Very proud to be a part of Windermere this week. Together we are making a difference, we are making an impact.

Ink it! | Save the date > January 23rd 2017 – yes, I referenced 2017 already – it will be here before you know it.  We are excited to begin promoting the focus and format of our six office Kick Off event. For now, think “TED talk” style, clock hours around recent law suits, fun and a reason to celebrate. We’ll be focused on “Ideas Worth Spreading”. Save the date, we’ll do the rest.

Have a wonderful weekend in both productive work + play, here to help – that is the ultimate goal. My cell – 206.227.7133 – feel free to give a shout if you need anything.

In partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

 

Let’s sweep, it’s a wild Friday! | the “science” + legal Q & A + ink it!

Six,

I’m taking a sweep of this week as I enjoy a day out of the offices, watching sideways rain & wind, noticing the still ever present beautiful Fall colors – all from Storyville Coffee Co in Queen Anne – next up, a massage – to kick off this wacky Seattle weekend. Every now and again I grab a day outside of our six offices, outside of being mom, wife friend, daughter, sister etc…and have a “retreat with myself”. And yes, I still write. Why? Because I actually love to do this. It’s not work for me. It is in my fun category. Ok six, let’s take a quick sweep of this week and prepare for next, together…

The “science” – thru September 16 2016 | Of particular interest this week is to shout out our newly formatted statistical reports. Alongside these newly formatted reports, the normal reports remain as we look to improve on all. You’ll notice significant graphical enhancements along with improvements in actual data + talking points. Our In-City offices alongside our Eastside counterparts are working in partnership to improve all going into 2017…and you can help (if market “science” is your thing)! I want your feedback. How? ***Please consider sending me (via email) PDF of reports marked up with suggested changes…Click here to take a look, test drive, digest, use and consider providing me feedback! (metro Seattle)

Click here for NWMLS specific area reports. NOTE: Individual NWMLS areas reports will be available in 2017 with the new formats.

Legal Q & A, October | For those of you who follow along our printed newsletters in your offices – there is always a monthly legal Q & A from Demco. If you haven’t found the “answer” just yet for October’s question – drum roll please – here you go!

Q. To make an offer more attractive to Seller, Buyer’s broker crosses out paragraph 7 “Appraisal Less Than Sale Price” in the NWMLS Form 22A Financing Addendum.  The offer is accepted.  The lender’s appraisal comes in $50,000 lower than the agreed sale price.  Because of the low appraisal, the loan does not get final approval and the sale fails.  Who gets the Earnest Money?
A. Some brokers believe that if paragraph 7 of Form 22A is crossed out, and if a sale fails because the appraisal comes in low, the financing contingency is no longer operative and Seller should get the Earnest Money.  That is not true.  In the above scenario, if Buyer timely applied for a loan and otherwise complied in good faith with their obligations, Buyer should get the Earnest Money back.  With Form 22A, if the loan fails for any reason, other than Buyer’s non-cooperation, Buyer is excused from their legal obligation to close.  Paragraph 7 of the Form 22A provides some options in the event of a low appraisal. The end result may be either a reappraisal and sale at the original price, a lower price, or termination of the agreement.  Merely crossing out paragraph 7 does not eliminate the financing contingency stated at the beginning of paragraph 1.a. of Form 22A:  “This Agreement is contingent on Buyer obtaining the following type of loan or loans to purchase the Property …”.  Without paragraph 7, a low appraisal kills the loan, and Buyer who has acted in good faith can walk away with the Earnest Money.
If Buyer and Seller desire that Seller gets the Earnest Money if a loan and a sale fail because of low appraisal, use WRE Form 41, paragraph 3:
“NWMLS Form 22A, Paragraph 7, Appraisal Less than Sale Price.  NWMLS Form 22A is modified as follows:  Paragraph 7 of NWMLS Form 22A Financing Contingency, Appraisal Less than Sale Price, is deleted in its entirety.  Buyer may not terminate this Agreement or obtain a refund of the Earnest Money, if any, in the event Buyer is unable to obtain the Loan and the sole reason for Buyer being unable to obtain the Loan is due to Buyer’s lender’s appraisal of the Property being less than Purchase Price.”
Buyer needs to understand that agreeing to this language means their Earnest Money will be lost (or other Seller remedies apply if “Seller’s Election of Remedies” was selected in Default paragraph of sale agreement) if the appraisal comes in low and they cannot pay the full Purchase Price from some source other than the loan they applied for.

Ink it! | Save the date, January 23rd 2017 – yes, a while off yet I’ve inked this date for our six office 2017 Kick-Off. Excited to begin promoting the focus and format. For now, think “TED talk” style, clock hours around recent law suits and fun – we’ll focus on “Ideas Worth Spreading”. Save the date, we’ll do the rest.

Ok, next up – a much needed massage. Stay safe everyone! Shout if you need anything. Happy to help – the ultimate goal. Here  is hoping to see a few rainbows between storms this weekend!

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Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

It’s Friday, let’s sweep! | W Collection, the ins + outs

Six,

Let’s sweep. If you already have a solid handle on the ins + outs of the internal unveiling of our W collection this week – much of this will be repetitive. If you are looking for the what + why + when + who + impact on Premier + how then heck,  this week’s Fridays With Laura is prepped for you. By the way, your office and support staff have been versed on all of this – have questions, just ask.

…Next week, I’ll jump back into market “pulse” conversations – I’ve been walking brokers through low appraisals and contingencies – items we should all be versed & aware of. I called Professional Development today and suggested we dust off our contingency class taught be Demco – just might be a good time add this back into our toolkit.

W Collection |  Wednesday morning more than 150 of our brokers came together for our monthly luxury networking breakfast to get a sneak peek our new ultra-luxury brand. The response was overwhelmingly positive and everyone is excited to unveil it to the public on November 1! Your office has all of the ins + outs of what the W Collection is and what it isn’t. Drumroll please…

wcollection

…and now for the talking points:

What is W Collection? Windermere’s W Collection is an elevated marketing program tailored to the needs of luxury clients with homes priced at $3 million and above. W Collection offers unique signage, exclusive marketing collateral, and targeted marketing opportunities to elevate your market presence and showcase your most distinctive listings.

Why was W Collection created? Due to market conditions in the Puget Sound region, it was determined that the time was right to introduce a higher priced tier to our luxury program that would complement Premier, but serve the specific marketing needs of ultra-luxury listings. Another goal of W Collection is to help Windermere brokers compete better in that segment of the market and earn more business.

When does W Collection formally launch to the public? November 1, 2016, but you can submit a registration request for your listing(s) immediately. Of special note: Windermere is covering the $500 registration fee for all qualifying listings with registration forms approved by October 12, 2016. Signs must then be ordered by October 14. See the program overview for sign ordering information.

How does this impact Premier Properties? In no way does W Collection diminish the importance of the Premier Properties program. Our brokers have worked hard over the years to build Premier and they have achieved great success. In certain areas, our luxury market share is as high as 60 percent. Attendance at our Premier breakfast events routinely tops 150 brokers and the connection between our brokers has never been stronger.

Is W Collection exclusive to certain brokers? We understand that there are some concerns that W Collection is in some way exclusive to a certain segment of Windermere brokers; we want to assure you that this is not the case. This program is open to anyone in Western Washington who is competing for – or has secured – a listing that fits the W Collection criteria.

How does a listing qualify for W Collection? To qualify as a W Collection property, the listing must meet certain criteria for quality and price. Once approved, there is a $500 registration fee. ***Windermere is covering the $500 registration fee for all qualifying listings with registration forms approved by October 12, 2016.***

  • $3 million or above
  • Architecturally interesting and/or historically significant
  • Structure and grounds must be in excellent condition
  • Interior design of exceptional quality
  • Minimum of 10 top-quality high-resolution photos available

What is included in the $500 registration fee for W Collection?

  • Listing showcased on wbywindermere.com
  • W Collection logo on the Windermere.com website listing
  • Access to unique W Collection signs (to be purchased separately; please see the program overview for pricing information)
  • Use of the W Collection logo on all property marketing materials
  • Access to exclusive marketing opportunities and beautifully designed marketing materials
  • International exposure through Luxury Portfolio International®, Leading Real Estate Companies of the World®, and Juwai.com
  • Monthly networking breakfast
  • Here is a sampling of the W Collection logo, signage, and marketing materials

A complete overview of the W Collection program can be found here. If you have questions about this or anything else related to W Collection, please email justask@windermere.com.

Shred + Electronic Recycling Event | Feel free to leverage this event tomorrow with anyone in NE Seattle or those that have an immediate need. Wedgwood will graciously accept their drop offs!

shredeventpsctrd_oct_2016

A Note from the NWMLSComputation of Time | This Monday, Columbus Day is a “regular business” day when computing time for the purchase and sale agreement.

FORE! | We kicked off Monday with our 3rd annual golf tournament – super fun – thanks to those that could join this year. For those that didn’t, do indeed join us next year. The format and fun work for all – yes, I mean all levels of golfers! Karen even had a chance to take her first swings with a club and I got to play 18 with my dad – good times had by all!

karengolf lauragolf

That is a wrap from this week, heavy on the W Collection – as I do believe it is important we all have these talking points. Again, the goal of FWL is to articulate who needs to know what, when our people need to know it, why and hopefully presenting in an entirely comprehensible way.

In continued partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.

…and a good weekend to find your pumpkins! Between soccer and football games, we will do the same! Love this, “surprise me”…

pumpkin