Market Update with Principal Economist Jeff Tucker

Host: Michael Fanning, Windermere Real Estate

Guest: Jeff Tucker, Principal Economist, Windermere Real Estate

Michael Fanning sits down with Jeff Tucker to discuss the current state of the real estate market, recent trends from late 2024 into early 2025, and what buyers and sellers can expect in the upcoming spring selling season.

• The Q4 2024 saw increased buyer demand after interest rates began to drop
• Current market trend is moving toward a more buyer-friendly environment with increased inventory
• Spring 2025 market outlook and seasonal considerations
• Tips for sellers in the current market conditions
• Advice for buyers navigating increased inventory options
• The importance of proper pricing strategy and working with experienced agents

• How to position properties correctly in a market with increasing inventory
• Understanding price reductions vs. home value depreciation
• Strategies for helping buyers find opportunities in the current market
• The critical importance of data-driven pricing decisions

• Michael Fanning: [email protected]
• Jeff Tucker: Available at windermere.com or on Twitter at @Jeff_Tucke
• Follow Windermere Economics on Facebook, Instagram, and YouTube
• Find more economic insights on the Windermere Hub

"Be awesome and help somebody." - Michael Fanning

Episode SummaryKey Discussion Points:Highlights for Real Estate Professionals:Contact Information:

Episode Summary

In this episode of the Windermere Ask a Coach podcast, host Michael Fanning speaks with Chip Painter (Senior Vice President for Windermere Services and General Manager for Referral Services) and LaMonica Hummel (Vice President Relocation Director) about Windermere's Relocation Division and Referral Services. They discuss how these services benefit agents, the qualifications to become a relocation specialist, and success strategies for making the most of relocation opportunities.

• Overview of Windermere's Relocation and Referral Services ecosystem
• Requirements and traits needed to become a successful relocation specialist
• How relocation leads can create long-term referral business opportunities
• The competitive nature of relocation transactions
• Benefits of using Windermere's Referral Services for outgoing referrals
• Training and support available to agents interested in relocation

• Relocation specialists work with corporate relocation management companies to serve employees moving to new locations
• Successful relocation agents often generate 3-5 additional transactions from each initial relocation client
• Windermere Referral Services boasts an 89% close rate on referrals
• Relocation requires agents with at least 2 years of experience and 24 transactions
• Working through Windermere's Referral Services provides agents with a dedicated manager who handles paperwork, follow-ups, and ensures a smooth process

• LaMonica Hummel: [email protected]
• Chip Painter: [email protected]
• Michael Fanning: [email protected]

For Windermere agents, more information is available on the Launchpad portal under the Referral Business tab.

Key Topics Discussed:Highlights:Contact Information:

In this episode of Windermere Ask a Coach, host Michael Fanning sits down with insurance experts from Moreland Insurance Agency to discuss the current state of homeowners insurance and its impact on real estate transactions.

• Maggie Cooper - CEO of Mooreland Insurance Agency (19 years in the insurance industry)
• Alex Busilacchi - Director of Sales for Mooreland Insurance Agency (4 years of experience specializing in real estate transactions)

• Boutique insurance agency offering commercial insurance, personal insurance, and employee benefits
• Specializes in working directly with real estate brokers and their clients
• Provides comprehensive insurance solutions beyond just homeowners insurance

• Industry experiencing a "hard market" with higher premiums and tighter underwriting guidelines
• Impact of weather catastrophes and climate change on insurance availability
• Importance of early insurance consideration in the home buying process
• Effects of previous claims history on new homeowners insurance policies
• Rising costs due to factors like inflation and natural disasters

• Insurance should be one of the first considerations in the home buying process
• Previous water damage claims can significantly impact insurance availability and costs
• Importance of working with a personal insurance agent versus relying on apps or AI
• Annual insurance policy reviews recommended
• Understanding the value of proper coverage versus focusing solely on cost

• Treat insurance history like credit history
• Consider insurance as a catastrophic tool rather than a maintenance policy
• Understanding the importance of replacement cost coverage
• Benefits of working with an independent insurance agency
• Flexibility in bundling options through independent agencies

• Website: morelandagency.com
• Services: Available for both independent clients and Windermere associates
• Availability: Accessible for urgent needs, including evenings and weekends
• Regular presence: Weekly visits to Windermere sales offices

For more information about the podcast or to suggest future topics, contact Michael Fanning at [email protected]

Episode Overview:

Key Takeaways:

Conclusion:

Call to Action:

Thank you for listening! Be awesome and help someone today.

Host: Michael Fanning
Guest: Matthew Ferrara

In this insightful episode, host Michael Fanning sits down with industry veteran Matthew Ferrara, who brings 35 years of experience across 49 states and 30 countries. They discuss the significance of listings in real estate and how agents can strategically prepare for success as we approach 2025.

The Future of Real Estate:
Michael and Matthew highlight the expected shift to a listing-centric market for the next decade. Matthew notes that while the previous decade saw fluctuating interest rates, future success will hinge on agents’ skills and their control over inventory.

Why Listings Matter:
Matthew stresses the necessity for agents to prioritize listings, as successful agents report that listings constitute a large portion of their business, rather than just working with buyers.

Business Planning Insights:
As business planning season kicks off, Matthew shares insights from the Windermere symposium, urging agents to adjust their business models to focus on listings and to “right-size” their businesses for sustainability and growth.

The Listing Advantage:
The conversation reveals the revenue differences between working with buyers versus listings. Matthew explains that having three listings can assure a near guarantee of income within 90 days, unlike the uncertainty with buyers.

Convert Sellers to Buyers:
Discussion on the fact that around 50% of sellers become buyers. Matthew shares strategies on how agents can remain the primary contact for sellers post-transaction to secure future opportunities.

Understanding Market Dynamics:
Matthew compares the competitive nature of real estate, noting that 80% of agents focus on buyers, leading to lighter competition for listings. He encourages agents to position themselves on the less crowded side of the market.

Targeting Orphan Buyers:
The pair discuss "orphan buyers"—satisfied clients who have lost contact. Matthew encourages agents to reconnect with these buyers as a potential source of listings.

Practical Strategies for Success:
Matthew proposes a straightforward action plan, recommending agents schedule two listing appointments per week. He emphasizes consistency over perfection and outlines a simple math model to illustrate income potential.

Creative Marketing Opportunities:
Listeners are presented with creative marketing strategies, such as thanking competing agents for their new listings, which can serve as conversation starters with potential clients.

The Importance of Relationships:
Maintaining relationships and frequent contact with past clients is discussed, including sending reminders and personal engagements to keep agents top of mind.

Michael concludes by reiterating the essential message: agents should aim to list more properties to enhance their careers and optimize income. The actionable insights offered serve as a roadmap for agents adjusting to the evolving market landscape.

Call to Action:
Thank you for tuning in! If you found Matthew’s insights valuable, consider reaching out with questions. Don’t forget to like, share, and rate the episode to help spread the word. Remember to be awesome, help someone, and make it a great day!

Key Highlights:Concluding Thoughts:Contact Information for Matthew Ferrara:

Episode Summary:

In today’s episode of "Windermere Ask a Coach,"

Host: Michael Fanning Michael is a dynamic real

Guest: D-Lisa West D-Lisa is a former real estate

Thank you for tuning into today's episode of

Host & Guest Introduction:Key Topics Discussed:Quotes

complimentary gift for your listeners  ⁠https://coachingwithd.com/ultimate-stress-relief-meditation/⁠this

7/#10 Ask a Windermere Coach Podcast - Episode Show Notes

Date: August 19, 2024

Episode Summary:

In this episode of the *Ask a Windermere Coach* podcast, host Michael Fanning sits down with the newly appointed Windermere economist, Jeff Tucker. They discuss the current state of the housing market, the implications of rising inventories, and the potential trends for mortgage rates as we head into the fall season. Jeff shares his insights on buyer behavior and the importance of local market conditions compared to national trends. Whether you are a buyer or seller, this episode is packed with valuable information that can help you navigate the ever-changing real estate landscape.

## Host and Speaker Introductions:

**Michael Fanning** - Host

Michael is the dynamic host of *Ask a Windermere Coach*, bringing insights and expertise to real estate professionals and clients alike. His engaging style invites in-depth discussions on real estate strategies and market trends.

Jeff Tucker- Windermere Economist

Jeff Tucker is the new economist at Windermere, bringing with him extensive experience from Zillow, where he served as a senior economist. With a passion for understanding the housing market and data-driven analysis, Jeff is dedicated to helping real estate professionals navigate complex economic landscapes.

Key Discussion Points:

- Overview of Jeff Tucker's background and journey into economics and real estate.

- Current outlook for the fall housing market and how it differs from past trends.

- The importance of active listings and inventory levels in influencing buyer dynamics.

- An analysis of mortgage rates and their potential impact on buying behavior.

- Strategies for buyers: when to purchase and what to consider.

- Insight for sellers: how to price homes competitively in the current market.

- The critical role local market conditions play compared to national trends.

Contact Information:

Jeff Tucker:

Email: [[email protected]](mailto:[email protected])

Twitter: [@Jeff_Tucker](https://twitter.com/Jeff_Tucker)

Michael Fanning:

- Email: [[email protected]](mailto:[email protected])

Closing Remarks:

Thanks for tuning in to this episode of *Ask a Windermere Coach*! If you enjoyed today's discussion, please share this episode with your network. Don't forget to reach out to us with ideas for future podcasts or if you’d like to be featured in an episode. Remember to stay awesome, help someone today, and make it a great day!

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Feel free to customize or expand on any sections as needed!

Speakers:

- Michael Fanning (Host)

- Shelly Bean (Guest) - Designated Windermere Summit trainer, coach, and content creator

- Beth Kellan (Guest) - Real estate veteran with 20 years of experience, former Ninja Mastery leader

In this episode of Ask a Coach Windermere, Michael Fanning interviews Shelly Bean and Beth Kellen about the innovative Summit office concept and real estate training.

Key points discussed:

1. Introduction to the Summit office: A new concept in real estate training

2. The Summit program's structure and goals

3. Linear approach to real estate education and skill-building

4. Importance of accountability and coaching in agent development

5. Adapting to changes in the real estate landscape

6. Benefits for new agents and experienced agents looking to reset their careers

7. The value of community and "hive mind" mentality in real estate

8. Retention challenges in the industry and how Summit addresses them

9. The importance of being purposeful and systematic in building a real estate business

10. Encouragement for agents to show up, engage, and continually learn

The podcast emphasizes the unique approach of the Summit office in providing comprehensive, structured training for new and experienced agents alike, setting them up for long-term success in the real estate industry.

Contact Information:

- Shelly Bean: [email protected], LinkedIn, Summit-specific website and social media pages

- Beth Kellan: bethkellan.com, email available on windermere.com

Both speakers will be attending the Windermere Symposium on October 1-3 at Caesars Palace in Las Vegas.

I'm excited to have Michelle Becker from Windermere Real Estate in Spokane, Washington, joining us to share her experience in organizing a highly successful and impactful civic-minded client event. Michelle has been in the real estate business since 2007 and has extensive experience in hosting client events.

Michelle's Civic-Minded Client Event: A Step-by-Step Guide

Step 1: Identify a Worthy Cause

Michelle's event revolved around packing food bags for Second Harvest, a local organization that provides food assistance to schools and families in need. She had been volunteering with them regularly and was inspired to involve her clients in this noble cause.

Step 2: Plan and Coordinate with the Organization

Michelle reached out to Second Harvest and secured a date and time for her group to volunteer. She also gathered essential details, such as the event duration, maximum capacity, and any specific requirements.

Step 3: Invite Your Clients and Network

Michelle promoted the event through social media and personal invitations. She encouraged her clients to bring friends and family members, expanding the reach and impact of the event.

Step 4: Provide Clear Instructions and Logistics

Michelle communicated all the necessary details to her attendees, including arrival times, parking information, and what to expect during the event.

Step 5: Facilitate the Volunteer Experience

On the day of the event, Michelle and her group participated in packing food bags at Second Harvest's facility. The process involved rotating through different stations, allowing for teamwork and interaction among participants.

Step 6: Celebrate and Debrief (Optional)

After the volunteer activity, Michelle organized an optional gathering at a nearby brewery, providing an opportunity for participants to unwind, connect, and share their experiences.

The Impact and Benefits

Michelle's event was an overwhelming success, with 65 attendees out of an 80-person capacity. Participants expressed their gratitude and shared that they had created lasting memories while giving back to the community. The event strengthened Michelle's relationships with her clients and facilitated new connections.

Advice for Hosting a Civic-Minded Event

Michelle encourages other real estate professionals to explore similar opportunities in their communities. She emphasizes the ease of organizing such an event and the immense rewards it brings, both personally and professionally. By aligning with a cause that resonates with her values, Michelle found a meaningful way to engage her clients while making a positive impact.

Connect with Michelle Becker

If you'd like to learn more about Michelle's civic-minded client event or seek her advice on organizing a similar initiative, you can reach out to her at [email protected].

Remember, as real estate professionals, we have the opportunity to make a difference in our communities while strengthening our relationships with clients. Michelle's example serves as an inspiration for us all.

Introducing Dana Ferrell, a private wealth advisor with Servitium Wealth Management, who has been in the financial planning industry for 28 years. In this insightful conversation with Michael Fanning, Dana shares her expertise and valuable insights on wealth management, particularly for real estate agents and entrepreneurs with variable incomes. Here are the key points covered:

1. The Importance of Financial Planning: Dana emphasizes the significance of having a financial planner who takes a holistic approach to understanding an individual's goals, values, and aspirations, and creates a comprehensive plan to achieve financial independence and sustainable wealth growth.

2. Cashflow Management: For real estate agents and those with variable incomes, Dana stresses the importance of managing cashflow effectively. She recommends setting aside a fixed monthly living allowance and stockpiling commission checks in short-term positions to maintain a consistent income stream during slower periods.

3. Retirement Planning: Dana highlights the need to prioritize retirement savings and encourages maximizing contributions to tax-advantaged accounts like 401(k)s, Roth IRAs, and SEP IRAs. Time in the market and compounding interest are key to building significant retirement wealth.

4. Insurance Protection: Self-employed individuals often lack adequate disability and life insurance coverage. Dana advises implementing strategies to systematically pay for these essential protections.

5. Wealth Diversification: Dana advocates for diversifying wealth across taxable, tax-deferred, and tax-free accounts, as well as across short-term, mid-term, and long-term investments, to ensure tax efficiency and risk management.

6. Lifestyle Choices: Dana emphasizes the importance of making mindful choices, such as avoiding frequent car leases and prioritizing paid-off assets, to build and preserve wealth.

7. Collaboration with Professionals: Dana stresses the value of working with a team of professionals, including accountants, attorneys, and insurance specialists, to ensure a comprehensive and cohesive wealth management strategy.

8. Continuous Education: Dana highlights the importance of ongoing education and professional development, attending conferences and networking with industry experts to stay up-to-date with the latest planning techniques and strategies.

9. Finding the Right Advisor: Dana advises on the importance of finding a trustworthy and competent financial advisor who understands your values, goals, and risk tolerance, and can guide you towards achieving your financial objectives more efficiently.

10. Reducing Stress: By entrusting a financial advisor to manage and oversee their finances, clients can experience a reduction in stress and anxiety, allowing them to focus on their careers and personal pursuits.

To connect with Dana Ferrell and explore her wealth management services, visit https://www.ameripriseadvisors.com/team/servitium-wealth-management/.