Tag: real estate broker

Pocket Listings and the Case for Transparency in Real Estate

On By Rainier EstatesIn Blogs, Real EstateLeave a comment

When I began selling homes many years ago, the ‘Coming Soon’ sign was a staple—a way to let buyers know a home would soon be on the market. Over time, however, off-market listings gained traction, particularly among certain brokers who sold homes privately to exclusive buyers. While some high-end clients preferred this privacy, I’ve always believed this model limits exposure and ultimately hurts sellers by reducing competition.

In a recent Washington Post article, Michele Lerner highlights the frustration of homebuyers who miss out on properties they never knew were available. These off-market deals, or “pocket listings,” allow agents to market homes before they’re listed on the MLS, often to select buyers within their brokerage. Some brokers argue this gives sellers more control, but it can also lead to reduced transparency.

As a broker with Realogics Sotheby’s International Realty and Founder of Rainier Estates, I support keeping rules that require off-market listings to be disclosed. Transparency in real estate is crucial, especially when a home is often the largest financial commitment most people will ever make. By limiting a seller’s market exposure, they risk missing out on better offers.

For my sellers, I always recommend broad exposure. Why settle for one or two potential buyers when dozens more could be interested? In my experience, transparency and competition drive better outcomes for both buyers and sellers.

At the end of the day, my goal is to arm my clients with all the information they need to make the best choice for their future. Whether selling to a neighbor or a stranger, I help them understand their options and support them in making an informed decision.

Where do you land on this? Should the National Association of Realtors or the MLS  allow ‘Coming Soon’ signs? Pocket Listings? Let me know your thoughts.

Lisa Taylor
Broker, Realogics Sotheby’s International Realty
Founder & CEO, Rainier Estates

Email: Lisa.Taylor@RSIR.com

Understanding Real Estate Auctions in Washington

On By Rainier EstatesIn Real Estate, UncategorizedLeave a comment

Short answer: Yes, but not very often. Typically, real estate auctions in Washington happen for foreclosures or high-end properties that have been on the market for awhile. As a professional auctioneer with over 15 years of experience, I’ve auctioned off everything from personal property to multimillion-dollar homes (if you count silent auctions).

Let’s dive into the world of real estate auctions and explore why and how homes are sold by the gavel.

In some parts of the world, it’s common to see people gather in front of a home. They raise their hands and bid “live” for a property. Still, with the rise of online auctions and auction software, the excitement of shouting “Sold!” in person has become less common. Sellers now have a broader reach through the internet. They have more potential buyers compared to a small crowd in the yard. This change is why “live” auctions for real estate are becoming rare.

I am a Licensed Professional Auctioneer, Benefit Auction Specialist, and Licensed Real Estate Broker. I am also an Estate Liquidation Specialist and a Graduate Personal Property Appraiser. I’ve got the skills to auction off just about anything. I apply those skills even when I’m selling a home the traditional way. This includes using the Multiple Listing Service and standard real estate marketing.

Auction skills help me deliver exceptional results for my clients. Here’s a little behind-the-scenes of how I approach an auction. Let’s say I’m auctioning off a collectible oil painting. It is worth $200,000. I won’t start the bidding at $200,000 – I’ll start at about $50,000. Why? I want to create excitement and get people invested. By starting low, we often exceed the expected value because multiple bidders are competing to win.

This auction mindset applies not just to collectibles, but also to real estate. For instance, I recently had a Seattle home that was listed conservatively (but not too low) to generate interest. With a strong marketing campaign, a packed open house (over 100 people!) plus more than 50 showings, we ended up with 11 offers above asking – and sold for $246K over our original price! It could have gone $20k over. It might have gone $100k over. Perhaps it would have sold at asking. The market told us the value. Plus, this was in the middle of winter with pouring rain and high interest rates. These were not exactly the ideal conditions for a bidding frenzy.

To wrap it up, my advice to sellers is simple: Let the market determine your home’s value. While I recommend a listing price, it’s the buyers who ultimately decide what a property is worth. Stick to your offer deadline, just like you would in an auction, and see where things land.

Interested in a free in-home consultation with an Experienced Licensed Auctioneer & Successful Real Estate Broker from Sotheby’s? Give me a call at 425.532.7077 (I’ll talk fast if you’re in a hurry) or shoot me an email anytime: Lisa@RainierEstates.com. I can handle everything from auctioning off your personal property to selling your home – start to finish!

Why Home Inspections Matter When Selling As-Is

On By Rainier EstatesIn Blogs, Real Estate, Service OfferingLeave a comment

At Rainier Estates & Realogics Sotheby’s International Realty, we understand. Selling a home can be especially daunting for seniors, heirs, and executors. Our real estate concierge service is here to lighten the load. We handle personal property. We organize moves. We also sell the home. A common question we hear is: “Is a home inspection necessary if we’re selling ‘as-is’?”

We often respond with our own question. We ask, “Do you want to be transparent about the condition of the home?” The answer is usually a resounding “Yes!”

The Value of a Home Inspection

So, what does a home inspection entail? A comprehensive inspection typically includes:

  • Thermal Imaging: Detects hidden issues like heat loss or moisture intrusion.
  • Video Scopes: Provides insight into drains and sewer lines.
  • Aerial Drone Views: Assesses roofs and gutters from above.
  • Leak Detection: Identifies potential plumbing problems.
  • Moisture Meters: Measures dampness in walls and floors.
  • Visual Checks: Inspects for cracks, rot, and signs of pests.

While inspectors may not be licensed electricians or plumbers, they can identify concerns and recommend professionals for further evaluation.

Cost Considerations

Wondering about the cost? Home inspection prices vary based on the home’s age and size. Additional services like sewer scopes or roof inspections also affect the price. In the Seattle area, expect to pay between $500 and $1000.00.

Once you have the inspection report, you can decide whether to address any issues. Alternatively, you can provide the report as it is to potential buyers. This transparency can lead to cleaner offers with fewer contingencies, as buyers appreciate knowing the home’s condition upfront. By being open about the “good, bad, and ugly,” you build trust with potential buyers.

Some buyers may still elect to obtain their own home inspections. They do this if they are truly serious about making an offer on your home. We always encourage that. We want the buyers to purchase with full confidence!

Let Us Handle It

With our Real Estate Concierge Service, you don’t have to navigate the complexities of selling your home alone. We handle every detail. We coordinate inspections, manage upgrades, and make recommendations based on the current market trends. Our experienced team acts as your knowledge base, guiding you to achieve the best possible outcome with ease.

At Rainier Estates & Realogics Sotheby’s International Realty, we believe that selling your home should be smooth. It should also be a stress-free process. Let us be your partner in this journey!

To arrange a complimentary in home consultation, feel free to email Lisa Taylor, Broker with Sotheby’s anytime! Lisa.Taylor@RSIR.com

You can learn more about Lisa at: https://lisataylor.rsir.com/

Boost Your Home’s Value: What Constitutes a Bedroom?

On By Rainier EstatesIn Blogs, Real EstateLeave a comment

Egress! Let’s set the record straight about what constitutes a true bedroom. Many sellers cling to the myth that a bedroom must have a closet—false! We’ve transformed countless listings from two to three bedrooms. We have also upgraded them from three to four bedrooms. This process significantly boosts their value.

So, what does it take to qualify as a “true bedroom” in Washington State? Here’s a quick guide to help you assess your own space and unlock hidden value!

Legal Bedroom Requirements:

  • Floor Space: At least 50 square feet per occupant.
  • Ceiling Height: Minimum of 7 feet from floor to ceiling or exposed framing.
  • Emergency Exit (Egress): A window or door that opens for safe escape in emergencies. The windows operable portion must be at least 20” wide and 24” high with a minimum area of 5.7 square feet. It can be no higher than 44” from the finished floor. Basement Windows must be at least 36” wide and high and have a fully functional opening. If it’s more than 44” from the ground it must have a ladder or steps at least 12” wide.
  • Usable Floor Area: Areas with ceilings lower than 5 feet don’t count (think low attic spots).
  • Window Bars or Screens: Must allow for emergency escape while keeping insects out.
  • Natural Light: Bedrooms must be in rooms that let in natural light.
  • Unrestricted Access: Bedrooms should have easy access to common areas and other rooms.

If your room doesn’t meet these criteria, it’s classified as a “non-conforming bedroom.”

Now that you’re armed with this knowledge, take a fresh look at your home—who knows what value you might uncover!

If you would like a complimentary in-home consultation from Lisa Taylor, Sotheby’s Broker & Estate Specialist at Rainier Estates, just reach out!

Lisa@RainierEstates.com or 425-532-7077