Phelps Listing Presentation

RealResidentialManifesto

At Real Residential, we believe every person deserves honesty

For most of us, a house is our single-greatest financial asset But a house is more than a structure for shelter and space it’s often also a home, and home is one of the most emotional assets we can own

The process of buying or selling a home can feel daunting, and it’s frequently cloaked in mystery and uncertainty especially in a competitive market like the Seattle metro Mortgage interest rates are unstable, properties are scarce, and bidding wars are tense But even amidst the chaos, it can also be a journey of joy in which you dream of your new life or experience financial opportunity Most of the time, the difference between a bad experience and a good one is the team supporting you

Our team is a select, nimble group of experts focused on our local communities and intentional about slow growth so we can provide the best service to our clients We’re on a mission to redefine the duty of care in real estate to mean more than just legal obligation For us, duty of care is a standard of how you treat people, and it starts with honesty Honesty means educating you about market conditions (so you can make your best decision) and advocating for you like you ’ re a family member. Honesty means telling you what you need to hear, not just what you want to hear. Honesty means doing everything in our power to make your dreams come true

Honesty means being real And we promise to be real with you

2628 NW Esplanade

PREPARED FOR: JIM PHELPS

Your Real Team

Brad Cahill

Partner | Founder

With over 22 years of experience, Brad has consistently ranks as one of the top brokers in the entire industry He was a co-founder of NWG Real Estate in 2007 and the #1 producer for 11 consecutive years Brad's passion for client service inspired him to pioneer the “Client Care” program at NWG, which offers access to coordination of all home related needs to clients beyond the transaction In 2017, Compass Real Estate chose NWG as their primary launch partner, which was a testament to their success in the industry as well as universal respect from their industry peers and business leaders in the community

Brad’s business is relationship-focused, with the vast majority of his clients coming from personal referrals He believes in adding value to others first and placing his clients' best interests above all else, even if that results in advising against purchasing or selling a home Brad is proud of the collaborative culture he has fostered in the industry, and he believes that clients benefit most from a team of brokers matched for expertise, specialization, and personality fit

In his personal time, Brad enjoys spending time with his family and coaching his children's activities. He is also an avid sports fan and proud supporter University of Washington athletics.

Managing Partner | Founder

Over $1B Sales Volume

Top 1% Washington State

#1 Team

In King County

Currently the Managing Partner and Co-Founder of Real Residential, Nick has always had a passion to improve the residential real estate experience Nick founded NWG Real Estate in 2007 and grew it to the top Independent Brokerage in Washington before being acquired as Compass Real Estate's launch partner in 2018

Nick has been steadfast in locating the brightest minds in real estate to collaborate and enhance the success for our clients Nick has been ranked as one of the top 5 Brokers in all of Washington for over the past 10+ years

Nick resides in Laurelhurst with his wife, Elaine and Daughters, Ella and Emery They are avid supporters of the University of Washington where Nick graduated with BA in Business in 2002 Nick is also very involved in the community as a Board Member for Villa Academy school in Laurelhurst, 101 Club in support of amateur athletics and Boundless Futures at the University of Washington

Elisa Jimenez

Executive Client Manager | Broker

Team Member of the Year

2019-2023

Bilingual

English & Spanish

#1 Team

In King County

Prior to joining REAL, Eli was a paralegal at a major intellectual property law firm and planned to move to New York City after accepting a position with the FBI Luckily for us, the PNW was calling her name and she and her husband made the move to Seattle in 2019.

Eli’s remarkable ability to multitask and high emotional IQ make her a key participant in every transaction At REAL, Eli is responsible for all listing preparations (including, but not limited to, marketing, paperwork, contract/offer drafting, vendor scheduling, interior design), client facing, broker support, and team member training and onboarding

Ava Lang

Executive Client Manager

Foster School of Business Sales Certificate

#1 Team

In King County

Growing up in the greater Seattle area, Ava has a deep appreciation for the diverse communities that the region has to offer In 2023, she graduated from University of Washington with a degree in Communication, minor in Business Administration, and certificate in Professional Sales. Previously employed at Kemper Development Company as Retail Operations Coordinator, she learned the ins & out of property management and class-A execution Ava is ecstatic to begin her new chapter at Real She aims to deliver excellent client service and build life-lasting relationships

In her free time, Ava is an avid runner, who enjoys competing in half-marathon runs As well as enjoying all things involving sun, food, family and friends!

2007

NWG is founded in Downtown Seattle

NWG

NWG becomes top independent brokerage in WA with over $500 million sold annually

2018

NWG joins Compass as the Founding Team

NWG

2022

Real Residential is founded and launched by the original NWG team

Comprised of 28 industry professionals that include an unprecedented 8 of the region’s top-producing brokers, Real Residential continues to set records in sales price and sales volume

The Real Duty of Care

Every person deserves honesty. We promise that honesty will be at the core of every communication we have with our clients

We promise to elevate our client over any self-interest

We promise to advise and educate

We promise to treat our clients’ home as though it were our own We promise to remain in our clients’ lives for anything they need that enhances their joy and convenience in their home

We promise that any request from our client will be answered honestly and timely

We promise to treat our fellow Broker colleagues inside and outside of Real with care and consideration

We promise to be REAL

Why Real Residential?

Real Advisory Board

At Real Residential, we believe the complexities of a home sale should seek innovation and advisory from a variety of talented sources We are fortunate to have an incredibly talented Advisory Board whose collective mindshare pushes us to raise the bar and redefine the duty of care in our local market Your talent behind the scenes!

JANE PARK

SEAN MEEKER

SAM HOLLOWAY

JON JONES

DOUG EISNER

MARK CANLIS

NEAL ZEAVY

EMILY WHITE

TODD MELDAHL

OWNER/EXECUTIVE

Laurelhurst $10,580,000

$3,590,000

Enatai

Blue Ridge

Blue Ridge

$2,600,000

Ballard

$2,520,000

$2,350,000

$5,000,000

Blue Ridge

Mercer Island

Marketing Your Home

The quality of Real's representation of your home reflects you as the seller Because of that, we have curated an extensive marketing plan to ensure your home is shed in the best light.

Pre-listing value add services

Photography

Website and Video

Social

Print Advertise

Marketing Collateral

Pre-listing Value add Services

Electrician

Painter

Landscape

Handyman

Carpet cleaning

Staging

Power washing

House cleaning

Inspections

Plumber

Professional Photography

We partner with the premier photographers in the PNW

Listing Website, Social, and Video

Your home will have a dedicated property website, video and a social post on our Real Residential Instagram account

Print Advertising

We advertise in top local magazines:

Luxury Home

GREET

Windermere Laurelhurst

WAC

Real Producers

Curated Custom Marketing Collateral

We create a suite of print marketing collateral to be featured at your home including a booklet or brochure, a feature sheet to showcase your homes best features, and a postcard sent out the nearest 100 neighbors

Presentation of your Home

At Real Residential, we take pride in our high standards that we refer to as Real Standards

We firmly believe that it is essential for every property listing to showcase an exceptional level of quality and sophistication, setting it apart from the rest of the real estate industry

As a seller, we understand that every interaction with our team, including the listing and marketing process, reflects upon you and your property That's why we prioritize every aspect of your listing, from stunning visuals to expertly crafted descriptions, ensuring that your property receives the recognition and attention it deserves Our commitment to excellence is reflected in every touchpoint of our service, providing you with the confidence and assurance that you have chosen the right team to sell your property

Real Standards

Professionally printed marketing collateral

Framed feature sheet of top ten features of the home

Framed feature sheet Improvements during ownership sheet (if applicable)

Keybox wrap with Real branding

Standup flyer with QR code

Real Residential welcome mat for vacant listings

Soap and tray with disposable Real towels

Communication

The key to a successful relationship during the transaction process begins and ends with communication. Clear and timely communication can prevent misunderstandings, resolve conflicts, and ensure that all parties feel supported and are on the same page throughout the process Effective communication can also help streamline the transaction and make it more efficient, ultimately leading to a successful outcome for all involved

We use three different streams of communication:

Weekly Updates

Group text threads

Phone calls

Weekly home check-ins

Weekly Updates

Our weekly updates include a summary of the work completed during the week, any milestones achieved, and any upcoming tasks or deadlines It's also important to address any concerns or issues that may have arisen and discuss plans to address them

Vendor Concierge

With decades of careful curating, we have created a list of over 300+ trusted vendors we use for a plethora of services for your home Below is a just a few of our most loyal companies we use on a regular basis.

Vendor Partnership

Real Benefits

Exclusive clients to Real receive 10% savings

Scheduling priority

6 week initial staging period

Prorated rental options

Complimentary deferred payment option (90 days)

Complimentary Pre-Listing Consultation ($500 value)

Virtual staging available

Specific Strategies

Preparation

Tidy up landscape and hardscapes

Touch-up paint on exterior where weather has deteriorated and discolored

Carpet replacement in primary suite

Supplemental staging in several rooms

Consider bids for different hardscape for front steps/patios

Service HVAC

Provide any records of oil tank decommissioning, sewer work, etc.

Provide documentation and estimate of remodel costs

Provide features and upgrades list

Window washing, if not done recently

Storage for garage items

Assistance in aspects relating to advisory on junk removal, estate sale, staging, etc

Marketing strategies

Target move-up buyers from within NW Seattle

Target down-sizers in high-end locations of homes over 4,500 sq ft

Mail to closest 200 homes

Global relocation outreach via REALM and relocation network partners

Partnership with local HR and executive head-hunters

Social media marketing with boosted/targeted ads

Broker/advocate event for top-level Brokers and neighbors

Mapping and education based marketing (most recent 50 home sales in Blue Ridge and North Beach above $15 million were represented by 46 different Buyer's agents)

Reverse prospecting and eBlast with video

Estimated Marketing Timeline

April 6-13

April 14

April 15

April 18

April 20-21

April 22

April 22

April 22

April 24

April 28

April 23-30

TBD

Pre-listing preparations

Partial staging

Twilight/Daytime and aerial photography (Clarity NW)

Website and marketing design (In-house marketing)

Potential private viewings

Live on the multiple listing services

Luxury mailing to 200 homes announcing your listing

Email campaign to luxury agents and advocates

Broker Open House

Public Open House - if applicable

Initial social media launch

Submission to Luxury Home Magazine, WAC Magazine, Mansion Global, Seattle Refined, Architectural Digest, Luxe Magazine, Puget Sound Business Journal

Dear Jim,

Pricing a property and strategic positioning are the most important aspects of the marketing process and eventual sale, both upfront and when entrenched in negotiations When determining the correct price/strategy for your beautiful North Beach waterfront home, it is imperative to evaluate closely the targeted buyer, consumer trends within your specific neighborhood, and comparative prices of similar homes in the area Current inventory and market conditions in the pinpoint market (NW Seattle) and broader market are just as crucial to understanding the most appropriate sales price.

Additionally, it is paramount to understand the demographics of North Beach, Blue Ridge, and Broadview buyers (specifically for more turn-key or newer construction offerings) as well as the general driving factors within the neighborhood With this information, we can focus our marketing efforts towards a specific buyer We currently have reserved the website www.NorthBeachView.com to adhere to the web nature of today’s high-end home buyer For current examples, please visit MedinaHeightscom and ElfordWestEdgecom

The particular buyer for your property will most likely be a local family in the “ move up ” or even “1st time home buyer” category who covets premium view, ease of commute to Downtown Seattle, and the family-friendly elements of the North Beach community. There is also a very strong possibility of a relocating buyer (tech) – and it is important to note that the relocating buyer-type is savvier to the data within the sub-markets of the community, placing as much importance in the investment component as the emotional draw while the local buyer may view it from a different “lens”

The first thing that jumps out to us about your home is the emotional gravitas of the renovation and enviable “front row seat” to the “Theater of the Sea” It is important to recognize that homes are emotional, and your home certainly has significant wow factor The other major advantage is your large and well-programmed/manicured yard-space Overcoming potential objections is part of our job and framing these attributes to achieve price premiums by educating and controlling the message to buyers and brokers is a key part of the process.

Pricing a home of this design, quality, and location within North Beach is not always a simple exerciseIt involves an understanding of the nuances of buyer preferences, home presentation, timing, proximity, like-kind sales, like-kind architectural/finish-level, lot preferences, and micro-community and comparable community data It also involves being able to place additional value on elements of the home that would not be recognized simply through “data”, specifically why your property exhibits certain qualities in Seattle that other homes, even in comparative neighborhoods and nearby, do not have

Below is a snapshot of the primary three studies conducted on North Beach and surrounding areas for comparable pricing analysis: (1) Two year report of high-end data in NW Seattle, (2) Post-pandemic report for view comparables, (3) Five year study of nearest unobstructed view and front row comparables

Four active listings on the market (only one in a comparable price category)

Average price/sq ft for the sales is $795 (skewed by some larger homes)

Average price/sq ft for the homes under 4,000 sq ft is in the $875/sq ft range

Average days on market for the sold homes is 20 with many of the sales occurring in the first 8 days

Nearest comparable sales that will be most commonly referenced:

2054 NW Blue Ridge: This is a home that we sold for nearly $36 million in 2022 The home had larger spaces and bedroom count but minimal yard and less view premium

2855 NW Golden Circle: This home sold off-market and left some premium on the sidelines The finishes were quite high in quality and the bedroom count was also 3 total bedroomsThe sale occurred during the pandemic in late 2020 and there has been 8-11% appreciation from that time to our current date

2355 NW Blue Ridge Drive: This home sold with multiple offers and escalated up to $32 million The home was dated in some areas and in need of cosmetic upgrades

The only advantage this home has over your home is the “Blue Ridge premium” and one additional bedroom Your home is superior in every other way

Several of the comparable sales included 2 car garages and 4+ bedrooms but we believe that your home will appeal to down-sizers and move-up buyers alike and don’t view those two elements as significant headwinds to a premium sale

Technology Algorithm Estimates

Tax assessed value: $1,842,000

Real AVM: $2,076,000

Zillow: $2,764,500

Redfin: $2,763,630

It is important to understand that these algorithms use lagging data from sales that occurred earlier this year. Prices are impacted by daily market conditions in flux including, but not limited to, competitive inventory, interest-rates, local tech stock performance, and buyer sentiment

Based on all this information, as well as other data not included in this analysis, we feel the home is firmly planted above $3,150,000 as a low-end price scenario – which likely only would occur if market conditions slow even further, interest rates continue to rise, economic issues, more inventory, etc In reviewing the more specific elements we are very confident in a price above that figure

Once we establish our expected range, we look back at factors such as the community’s typical support of such price, the finishes and floor plan of the home as compared to the recent NW Seattle sales above $3 million. With those factors, we can then establish a more accurate price opinion

Equally important to our pricing analysis based on closed/pending sales is our ability to put ourselves in the shoes of a potential buyer There are currently 3 active homes in this category in ALL of NW Seattle

Based on what we have outlined in this report, it is our overall opinion that the market value of your home is between $3,185,000 and $3,415,000 If we were listing the property today, we would recommend pricing just under $3,500,000 at $3,495,000)The highest price we would recommend would be $3,595,000 – however we do not advise listing at this price, as we enter a high-risk zone above $3,600,000 given the external market conditions and items we outlined in this presentation.

We have specific plans to create a momentous presentation beyond pricing outlined in the attached proposal Some of these plans have already been discussed in person and we look forward to creating strong synergy to achieve a successful sale for your family!

We look forward to working with you toward a successful residential transition

Best Regards,

Nick W Glant

Brad Cahill Managing Partner | Founder Partner | Founder 2069104221 2069304503

Results Oriented Compensation

Your home fits squarely into the coveted property that our team ex- cels at representing We are selective in the listings we represent and furthermore, we believe in customizing each fee structure based on fair compensation and incentive Below, you will find a fee proposal that balances ample fair compensation with incentive to perform

Fee Proposal

Listing Office Compensation:

235% of sales price

$7,500 credit at close for preparation items/staging

Buyer’s Office Compensation:

25% of sales price

Listing Commission Inclusions

All marketing collateral, print & digital advertising, and signage costs

Assistance in coordinating listing preparations and maintenance, ie landscape, repair items, floral display, cleaning, etc

Legal support on retainer of up to 5% of brokerage compensation Closing documentation, transitionsupport,etc

Testimonials

Brad, Nick, and Eli were a joy to work with throughout our multi-year search for the perfect home for our family. Brad provided thoughtful, patient guidance as we considered home after home in three different neighborhoods. When we were ready to put in an offer, Brad and Nick’s strategic advice helped us to stay sane, act quickly and ultimately win out in a competitive environment. Equally as important, although the market softened as we were getting ready to put our existing house on the market, they helped us to put our best foot forward and get our house sold at the right value. At every step, Brad was in tune with both our financial and emotional needs, helping us find the right balance and highly responsive to our calls. Eli made the logistics of buying and selling so easy – coordinating multiple vendors and taking care of all the many details leading up to putting our house on the market. Together, Brad, Nick and Eli made the stressful process of buying and selling our homes much calmer, faster, and easier than I could have imagined. (We were also introduced to a great roster of painters, handymen and other helpers – several of whom we ’ ve called on separately post-close).

- Jane Park

From start to finish, Brad, Nick, and Eli were extremely helpful and professional at each step of the process We felt confident that they had our best interests in mind and took great care to negotiate the best deal possible This was our 4th time working with their team and we'll continue to use them moving forward

- Dave & Caitlin Yusen

In working with Brad and Nick, we felt they were truly invested in our family and our success At no point did we feel like just another transaction And since closing, we ’ ve recommended Brad and Nick to multiple friends and colleagues, whether they were just exploring their next move, or actively house-hunting We’re thankful we had the opportunity to work with this team, and would absolutely recommend them to anyone looking for a team to work with on their next transactions

- Heather & Ronan O’mahony

Brad and Nick are without doubt the best in industry Often real estate agents can be undervalued when in reality, legal expertise and negotiating skills are the foundation to their service Aside from being fun to work with, their representation of our transactions was seamless, while knowing the hurdles they had to navigate were challenging Had it not been from Brad and Nick, our home would not have sold as quickly or as far above listing price

- Steve & Kelly Patton

Thank you so much for providing such exceptional service during our recent move to the Seattle areaYour thorough and professional approach allowed our family to enjoy the home search process, knowing that we could rely on your firm for excellent service

Moving from out of state, we were quite unfamiliar with the local real estate market and quickly found the home search a bit daunting However, you were able to quickly discern our priorities, after carefully listening to our requirements, and provide us with a very efficient and effective home search process We appreciated your ability to work around our quick Seattle visits and busy work schedules

In addition, your skilled use of market knowledge to seek out homes that had not yet been listed allowed our family to find the perfect home Without that extra effort, we might still be searching for our home instead of enjoying it! Impressively, the service did not end at closing; your follow-though and attention to detail lead to a seamless transition to the area

Thank you again for your great service and expertise We will certainly call you again for any real estate needs and recommend your firm highly to any prospective clients

- Chris & Barbara