Fair Housing Conference & a few market numbers ⤵️

Join me? Tacoma Pierce County Assoc. of REALTORS is hosting a 2025 Fair Housing Conference. I plan to attend. It looks like a very good line up and a very timely topic. I want to be in this room. Also, a local opportunity to network across industry without getting on a plane, hotel stays etc…

Consider grabbing a few peers from your office and make a field trip out of it!

Fair Housing Conference | Tacoma, WA | April 16

*Up to 6 clock hours available.

Fair housing is a foundation of strong, thriving communities and is a tool that housing providers and REALTORS® can use to connect people with housing.

Join us for the 2025 Fair Housing Conference on April 16 at the Tacoma Downtown Marriott, where professionals, stakeholders, and community members will come together to:

  • Learn the basics of Fair Housing and how those rules affect your business and clients.
  • Understand the newest resources available to get people into homeownership.
  • Learn how equitable housing practices can be used as a tool for creating housing and homeownership opportunities for all members of the community.
  • Engage with moderator-facilitated expert panel discussions.
  • Collaborate with key resources available to grow homeownership opportunities for all.

CLICK HERE FOR SEMINAR DESCRIPTIONS

Speakers confirmed for this year’s conference include:

  • Bill Dedman, Investigative Journalist and “Long Island Divided” co-author
  • Alexia Smokler, NAR Director of Fair Housing Policy & Programs
  • Jeannie Simpson, NWMLS General Counsel
  • Panel Discussions featuring:
    • Attorneys
    • Homeownership advocacy organizations
    • Washington State Housing Finance Commission, Habitat for Humanity & Homesight
    • More to be announced!

*Up-to 6 clock-hours available – including the DOL required Fair Housing course – for attendees with tracks focused on real estate agent and property management professionals. ⤵️

More information & registration here.

And, as pulled from the Seattle Times and data provided by the NWMLS – wrapping up this week with a few numbers…

That’s a wrap for this week, we’ll do it again next… – Laura

My bookmarks (this week).

Welcome to Friday. And wow, I have certainly enjoyed the crisp, cold, yet stunning PNW days this week. Everything is a bit better with the sunshine. Today’s FWL is focused on three things I’ve enjoyed having at my fingertips this week as I dive further in with curiosity…

As I brought to awareness in last week’s blog – a reminder to review the “Revisions to the Escalation Addendum (NWMLS 35E) hosted on the homepage of NWMLS. There are now two videos available. For all of us, this is a good prerequisite for heading into the revisions going live next week. In my humble opinion, I don’t believe these revisions or the new tool (calculator) will change how we are handling escalators much in the very immediate future. It will take time for brokers to learn & implement. Use the next couple of weeks to seek understanding. These revisions are tools in the toolbelt – and yet at the end of the day for listing brokers – continue working the solutions/scenarios that are in front of you. There are many ways to arrive at mutual acceptance. There is no one-size-fits-all approach, and 35E (process) is not a perfect form for every situation to arrive at mutual acceptance. In the meantime, I’ll be playing with the calculator alongside you. Start with the videos heading into next week! Offices will be naturally working through the revisions with you.

This week I hit refresh on my bookmarked Downtown Seattle Association website. Talking with a broker yesterday who had put together a fabulous marketing piece around the revitalization of the downtown waterfront, it dawned on me that I owe downtown a day trip to explore! And then, it brought me back to explore further the DSA website – very well done. Full site here along with resources in an Economic Report, Development, Economic Revitalization (dashboard) & a fabulous Seattle City Makers Podcast. I hosted DSA President & CEO Jon Scholes at a meeting last year – putting Jon back on my guest list in 2025. Until then, his podcast is great and consider planning a visit to walk the waterfront park! 🎤

REALTORS®+Housing

My 3rd resource as we sweep this week in content is hitting refresh on the newly launched website: REALTORS®+Housing

As we are well aware, housing policy is undergoing major changes in Washington State. In 2023 and 2024, the Washington State Legislature passed a myriad of housing bills. The two most significant were middle housing bills HB 1110 and HB 1337. These bills are set to transform housing policies in urban and suburban areas by allowing middle housing and accessory dwelling units across the Puget Sound region.

Along with becoming more familiar with this new site – next week I’ll be digesting a recording of a recent Windermere ProDev class on: Seattle Zoning Updates and Housing Opportunities: Adapting to Seattle’s Evolving Plan.

The word that really sticks out to me in the class title – evolving. Consider bookmarking the site above as one resource to evolve with change.

To round out FWL, I’ll bring us all back to our local real estate market. In talking with a ton of brokers & industry leaders this week – there are signs of an early spring market. And in getting back to basics, let’s get back into our cars, tour and connect…

As the fabulous Sue Bethke likes to say, “You can’t sell what you haven’t seen.” With my coaching hat on, keep distractions to a minimum and maintain intentionality and focus as we move further into 2025.

Have a wonderful weekend in productive work & play. Here to help; the ultimate goal. – Laura

A plane. A plan. And, interesting stats.

Fridays with Laura have of late landed on Sundays – it is what it is! Hello from somewhere above the ocean on a flight home after a week of Windermere owner planning meetings. To be shoulder to shoulder with my colleagues in planning is powerful. I will land in Seattle tonight with a clear plan broken down into both 90 days and weekly intentionality. I challenge you to join me with such focus.

This week I spent time with Windermere Economist, Jeff Tucker, and he referenced his look ahead towards 2025 as “cautiously optimistic.” I can report back that this was the overall sentiment across owners that gathered this week.

A few things with our eyes on a fresh new week ahead…

If you know me well, you know I focus on 90 day planning alongside designing one week at a time towards outputs that matter. If you are looking for an impactful 90 day planner – I’ve created & updated both a pdf fillable or print version – here.

To assist in critical thinking around your business as we accelerate towards 2025 – I found these stats summarized from the latest NAR Annual Profile of Home Buyers and Sellers very interesting:

  • The typical home buyer reached a median age of 38 years old, the highest ever in 43 years of the report; Repeat buyers reached an all-time high of 61 years of age, also.
  • More than 88% of all buyers used a real estate professional last year, a rate that has remained steady for the past five years.
  • Less than 27% of buyers had children under the age of 18 at home last year, an all-time low in the report, as first-time buyers also dropped to 24% of all buyers.
  • The average age of sellers was squarely Baby Boomer generation at 63, the highest in 40 years.
  • The typical seller spent more than 10 years in their home before moving again, double the rate of twenty years ago when it jumped after the Financial Crisis.
  • Less than 6% of sellers last year sold their home on their own, as FSBOs also hit an all-time low in the survey.

And, with my coaching hat on this week – here is a question to ponder: What fuels consistency?

In my humble opinion, the answer is: Purpose fuels consistency.

What “purpose” is fueling your “consistency”? And do you have a plan to design long-term success—defined by the one and only = you?

My purpose is to help people achieve long-term success while maintaining well-being and positive relationships. To assist in that “fuel,” this week I will be obtaining my recertification in high-performance coaching. This is an annual recertification. I have tremendous gratitude for being able to layer these concepts into our real estate industry. And while the naming of the coaching can be misinterpreted as a “rise and grind” culture; it’s not. Instead, it is about alignment, congruency, and becoming a “master of self” alongside the “master of your craft.” Key concepts here.

Ps, in 2025 you’ll notice my key HP coaching concepts will be included within Fridays with Laura content. Here is a 90-day sneak peek:

January will be focused on high-performance focal points > aka, discovering your focus, level of agency, and habits.

February will be focused on clarity > gaining immediate behavioral clarity and intentionality.

March will be focused on energy > gaining immediate improvements in energy & endurance you feel and generate each day.

That’s a wrap from the sky, on a plane, over the ocean, looking forward to seeing my family tonight and a big does of readiness for a fresh new week with clarity as my foundation. My blueprint is set in designing my next 90 days – join me?

And if you do not know where to start – begin here – and once complete, feel free to share with me if you’d appreciate further direction or focus. Here to help; the ultimate goal.

Have a great week! – Laura

Three things. This week.

As Fridays with Laura (FWL) makes a long-overdue comeback in focused content, I begin with three things to wrap this week!

Topic #1: Buyer Focus is a Crowded Market

80% of brokers are buyer-centric (through mindset and actions). Look at your last 12-24 months. Consider right-sizing your business, as the “buyer focus” is a “crowded market.” You can swim in abundance while 80% of the broker market remains buyer-centric. Let’s get your business right-sized in a less crowded space.

How to build a more Seller driven pipeline?

Formula for a $20M Pipeline:
Working 48 weeks a year, creating 2 listing appointments per week, factoring in a 3:1 batting average in conversion:

  • 32 listings
  • 90% sales rate = 28 sold
  • 50% of sellers also become buyers = +14 buyers
  • 42 units x average price point ($500K—yes, ridiculously low, but it’s an example for easy math) = $20M pipeline

Now, imagine using the formula above to generate 2 listing appointments per month with similar conversion rates at our much higher & relevent market prices. As sellers wax and wane in returning to the market, here’s a sample perspective (thank you Dina for your cliff notes!) to get the wheels turning in focus…

And, ps: if you are working with buyer(s) a reminder to turn in your BBSAs to your office within two days of signiture with client. The DOL thanks you and thus, so do I!

Topic #2: Double Down on Pricing Process

Recently I recorded Ep. 29 and the below feedback was hard to ignore! With such feedback I felt necessary to amplify this episode…

This was one of the best and concise conversations about price and pricing strategies I have ever heard…and I have been around long enough (50 years in real estate) to have heard and done a lot of them.” – Windermere Broker, Karen Lavallee

Full episode here: Laura Smith | Windermere Real Estate Co. · Ep.29 – Double Down On Pricing Process

Topic #3: “What is wildly important this week?”

Do you have a scheduled time to plan your week ahead? For me, it’s on Sunday. Every Sunday, I ask myself, “What is wildly important this week?” This prompt has helped me over the years to get clear and organize what really matters. Maybe this prompt will help you anticipate and plan for the week ahead, too.

Happy planning, and we’ll do this again next Friday!

Next week, FWL will focus on sources of potential listings, standards of practice, all mixed in with a fourth-quarter emphasis on shelling out high fives! Thank you for being the audience I write for.

Until then, be well!

And, I’m hoping to get back on the lake for another sunrise paddle this weekend to reset. How will you reset? – Laura

WA State just leveled up our industry. You are ready. We are ready. Stay curious, always.

Hello 2024 it is nice to finally meet you! We’ve been anticipating you for some time now. We are ready. Broker Services Agreements are here. While having Buyers sign Agreements were once previously suggested, they are now required – modernizing the 25-year-old “Agency Law”.

Your office is ready, will continue to educate and will help through this transition as there are several circumstances that will require your action early in 2024. Take inventory of your sellers & buyers and review what actions you now are required by Law to take.

Cliff note version below on how to move through this change with current clients. As always, you may also circle back to NWMLS homepage, legal bulletin and continuing education to continue to raise competence leading to overall confidence.

  • For buyer brokers who have existing agency relationships, brokers will have buyers sign services agreement if the broker will continue to provide services to the buyer on or after January 1, 2024.
     
  • For buyers who are party to an existing purchase and sale agreement that is waiting to close, there is no need for the buyer to sign a services agreement (unless you are continuing to render real estate brokerage services needed). However, if that sale fails, and the broker will continue to provide services to the buyer, the parties must enter into a services agreement as required by the revised law.
     
  • Your listing agreements signed prior to January 1, 2024 should be amended to address the seller’s consent to limited dual agency. To do so, firms can use the Addendum to Exclusive Listing Agreement (NWMLS Form 18) and check the applicable box to address the seller’s consent to limited dual agency for the individual listing broker.

Note: Windermere Forms 28A & 28B (Buyer Brokerage Services Agreements), 28C (Amendment to Buyer Brokerage Services Agreement), 28T (Termination of Buyer Brokerage Services Agreement) are now hosted on the NWMLS. Windermere Form 28S (Seller Brokerage Services Agreement) is not hosted on the NWMLS yet available to Windermere offices to use when applicable – yet within NWMLS rules parameters (use caution here – this is not giving permission for “pocket listings.”

In all scenarios, “give out the NEW Real Estate Brokerage in Washington like candy” – thank you David Daniel with the Demco Law Firm for this keynote phrase!

Welcome everyone to 2024 with renewed energy & clarity in creating opportunity. With revisions to Real Estate Agency Law, our industry has just leveled up. And now that we’ve ushered in the New Year, I’ll bring you back to a formula I will continue to coach to all year – a formula for sustained success…

Curiosity x (Competence + Congruence + Connection) = Confidence.

Stay curious my friends. It all start there.

Laura Smith, Windermere Real Estate Co.