Windermere Coaching Minute Windermere Coaching

Listen to Michael Fanning and Steve Loevastsu, a seasoned real estate agent starting in 1988 with Windermere Real Estate. Here are the key takeaways from Steve Laevastu:



Steve Laevastu is a highly successful and experienced real estate agent who has been with Windermere for over 30 years. He is based out of the Greenwood office and primarily works in the neighborhoods around his home, within a 10-minute drive radius.



Key Takeaways:



1. Consistency is key: Steve has been consistently sending out monthly newsletters to the same four neighborhoods (Wedgwood, Hawthorne Hills, Ravenna, and Mont Lake) for over 15-20 years, totaling around 7,500 newsletters per month. This consistent presence in his farm areas has been instrumental in his success.



2. Geographic Farming: Steve believes that geographic farming is the easiest way to make money in the real estate business. By focusing on specific neighborhoods close to his home, he has been able to establish a strong presence and reputation in those areas.



3. Relevant Content: Steve ensures that the content in his newsletters is relevant to the specific neighborhoods he targets. He includes information about local developments, real estate market updates, and happenings in the area, making the newsletters valuable to the recipients.



4. Systems and Templates: Steve emphasizes the importance of creating systems and templates to streamline processes and improve efficiency. He has templates for follow-up emails, letters, and other communications, saving time and ensuring consistency.



5. Focus on Listings: Steve has consciously chosen to focus primarily on listing properties rather than working with buyers. He finds listings to be more efficient and refers buyers to other agents or members of his team.



6. Open to Sharing: Steve is happy to share his knowledge and experience with other agents. He enjoys having lunch and discussing strategies to help others thrive in their real estate business.



Contact Information:

Steve Laevastu can be reached at 206-226-5300 or via email at sold@windermere.com.

"Welcome to our insightful book review episode, where we'll be exploring a diverse array of transformative reads recommended by Michael Fanning from the Windermere Coaching Minute podcast. Get ready to dive deep into powerful books spanning themes like mindset, personal growth, gratitude, taking action, and unlocking your full potential. Michael will be our guide, breaking down key takeaways and wisdom from over 30 inspirational titles handpicked to enlighten and motivate you on your journey of self-development. Don't miss this opportunity to discover your next life-changing read!"




Don't Believe Everything You Think by Joseph Nguyen
The Subtle Art of Not Giving a F*ck by Mark Manson
Stop Squatting With Your Spurs On by Angel Tucker
Big Potential by Shawn Achor
Mindset by Carol Dweck
Personality Isn't Permanent by Benjamin Hardy
Think Like a Monk by Jay Shetty
Give and Take by Adam Grant
Unreasonable Hospitality by Will Guidara
F*ck Yourself by Gary John Bishop
It Takes What It Takes by Trevor Moawad
Unstoppable by Craig Ballantyne
Hidden Potential by Jen Croneberger
Atomic Habits by James Clear
Outlived by Peter Attia, M.D.
Feel Better Fast and Make It Last by Dr. Daniel Amen
Manifest by Roxie Nafousi
Super Attractor by Gabrielle Bernstein
Letting Go by David R. Hawkins, M.D., Ph.D.
Burnout by Emily Nagoski & Amelia Nagoski
Livewired by David Eagleman
Never Split the Difference by Chris Voss
Antifragile by Nassim Nicholas Taleb
Grit by Angela Duckworth
High Performance Habits by Brendon Burchard
High Performance Habits by Brendon Burchard
The Infinite Game by Simon Sinek
4000 Weeks by Oliver Burkeman
Big Magic by Elizabeth Gilbert
The 5AM Club by Robin Sharma

Contact Host Michael Fanning Fanning@windermere.com

"The Windermere Coaching Minute Podcast," hosted by Michael Fanning, and the guest speaker is Chris Mattix, the Regional Sales Manager for America's Preferred Home Warranty (APHW).



1. Chris Mattix provides an overview of APHW, a home warranty company based in Jackson, Michigan, operating in 49 states, with a call center and service department housed in the same location.



2. APHW has a partnership with Windermere Real Estate since 2019, offering branded materials for agents and a client-facing website for warranty information. https://aphw.house/windermere/



3. A home warranty is designed to cover the main systems and appliances (plumbing, electrical, appliances, cooling, and heating) in a home that homeowner's insurance typically does not cover. It provides budget protection for homeowners.



4. Offering a home warranty to sellers can help agents win listings by providing protection during the listing period, covering potential issues that may arise from buyer inspections, and offering legal and financial protection for sellers after the sale.



5. Listing agents can order a listing coverage as soon as they have a signed listing agreement, providing coverage for pre-inspections and protecting the seller's bottom line.



6. For buyers, a home warranty offers peace of mind and financial assistance for repairs or replacements during the first year of ownership, especially in a competitive market with high interest rates and costs.



7. APHW allows homeowners to choose any licensed contractor for repairs, a key differentiator from other warranty companies.



8. APHW offers legal protection for sellers after the transaction, including coverage for errors and omissions deductibles and attorney fees, even if a warranty was not purchased.



9. Agents can provide a home warranty as a value-add to buyers, making it easier to articulate their compensation and offer additional benefits like identity theft and home title fraud protection.



10. Home warranties serve as a touch point for agents to reconnect with clients during renewal periods or when issues arise, fostering positive client experiences and potential referrals.



Chris Mattix's Contact Information:

Phone: 206-305-2343

Email: cmattix@aphw.com

Michael Fanning (Host)

Jason Shutt from Bainbridge Island, 10 years Windermere

Robin Springer from Portland, Selwood 14 Years Windermere 



15 Bullet Points:



1. Changes due to the NAR settlement, requiring buyer representation agreements.

2. Educating sellers on the value of offering buyer's agent compensation.

3. More buyers can afford the property when offering compensation.

4. Higher potential sale price when incentivizing a larger buyer pool.

5. Easier negotiations when not negotiating buyer's agent compensation.

6. Transparency and avoiding steering are key aspects of the settlement.

7. Importance of understanding the seller's perspective and not making assumptions.

8. Some sellers may resist offering buyer's agent compensation.

9. Articulating the agent's value and having a solid process is crucial.

10. Conducting a pre-buyer interview to gather information before meeting.

11. Explaining the importance of the buyer representation agreement.

12. Exclusive vs. non-exclusive buyer representation agreements.

13. Comprehensive education for clients on the process and documents.

14. Pointing out potential issues during home showings to manage expectations.

15. Asking questions to understand the client's personality and needs.



Email addresses:

Robin Springer: RSpringer@windermere.com

Jason Shutt: jason@jasonshutt.com

• Russell Marsan is an expert on 1031 exchanges, having worked in the field for 28 years with Investment Property Exchange (IPX1031), the largest qualified intermediary facilitating 1031 exchanges in the nation.



• A 1031 exchange allows real estate investors to sell one investment property and reinvest the proceeds into a new investment property while deferring all capital gains taxes. It is considered the greatest wealth building tool in the tax code.



• The term "like-kind" is misleading - virtually any type of investment real estate qualifies as "like-kind," including raw land, single family rentals, apartments, commercial properties, etc. The properties don't have to be of the same asset class.



• 1031 exchanges can be done across state lines while deferring both state and federal capital gains taxes. A few states like Montana and California have a "clawback" provision where the state can recapture taxes if the owner leaves after exchanging out of that state.



• Death is the only inevitability, not taxes - 1031 exchanges allow deferring capital gains taxes until the owner passes away, at which point heirs receive a step-up in basis and can sell tax-free up to a generous exemption amount.



• There are strict 45-day and 180-day timelines - the investor must identify potential replacement properties within 45 days of the sale, and complete the exchange by acquiring the new property within 180 days.



• Owners can convert a rental property into a personal residence through a 1031 exchange following IRS revenue procedure 2008-16, which requires limiting personal use for 2 years.



• Marston recommends agents ask clients about any business use of their home (home office, rental, etc) to explore doing a partial 1031 exchange to defer depreciation recapture and taxation on that portion.



Cell Phone: (530) 755-8355

You can call him anytime, even 8pm at night as he said "I'm a tax nerd. I have no life."



Email: russell.marsan@ipx1031.com



He also mentioned that agents can reach out to him about providing training classes or evening educational events for their offices and clients on how to build wealth through 1031 exchanges. He enjoys doing these interactive presentations from 6-7:30pm on weeknights at the venue of the agent's choice.

Michael Fanning Podcast host talks to Anders Ibsen and Stevi Fanning about the details on contingent offers.



- Stevi Fanning is a real estate agent in Idaho.

- Anders Ibsen is a real estate agent from the greater Tacoma area with Windermere Real Estate.



Bullet Points:



1. The podcast discusses the power of contingent offers and the difference between types of contingent offers.

2. A contingent offer means buying and selling a property at the same time, where the buyer needs to sell their current home to buy the next one.

3. There are two types of contingent offers in Washington state: Form 22B (buyer needs to accept an offer on their current home) and Form 22Q (buyer has already accepted an offer on their current home).

4. Form 22B is less competitive in multiple offer situations but allows more flexibility in timelines.

5. Form 22Q is more rigid in timelines but more competitive as the buyer is already under contract.

6. Educating clients on their equity position, competitiveness of their home, and occupancy situation is crucial in contingent offer scenarios.

7. Listing agents should actively communicate with the buyer's agent to ease the seller's mind and build trust.

8. Buyers can initiate negotiations on the terms of their home listing, such as reducing the list price if no offer is received within a certain period.

9. Bidding wars can be won with awareness of what it takes to win, emotional preparedness of clients, and a competent agent.

10. The competence of the other agent is crucial for a successful contingent offer transaction.

11. Reputation and ability to work well with other agents can sometimes outweigh the strongest offer on paper.

12. Being in a collaborative and educational environment as a new agent is important for learning about complex transactions like contingent offers.

13. Firm culture and emphasis on professional development play a significant role in an agent's competence.

14. Continuous education on changing contract forms and building trust and confidence with clients are essential.

15. Clients should choose firms and agents dedicated to producing successful, productive agents rather than treating agents as mere sources of monthly fees.