Market Trends: 6/8/2012

Washington State

Market Snapshot

Total Properties Listed: 49,754

Month-Over-Month Change:+3.98%

Average List Price: $325,147

Month-Over-Month Change:+2.05%

Median List Price: $199,950

Month-Over-Month Change: +.03%

Typical Property

Single-Family Home
3 Bedrooms
2.44 Baths
$325,147 Average List Price
$170/SqFt Average Price per SqFt.

Average Price by Bedrooms:

1 Bedroom:   $196,633
2 Bedrooms: $255,934
3 Bedrooms: $326,745
4 Bedrooms: $493,926
5 Bedrooms: $697,216

Top Ranked Franchisee Joins Keller Williams Realty

Joe Rothchild to lead Keller Williams Signature in Houston, Texas

AUSTIN, TEXAS (April 12, 2010) — Keller Williams® Realty Inc. announced today that Joe Rothchild, formerly a top ranked Re/Max franchisee and the leader of Houston’s #1 selling real estate team in dollar volume and number of closed transactions in 2009 (Houston Business Journal, March 2010), is now at the helm of the Keller Williams Signature office in Houston, Texas. The Joe Rothchild Team closed 779 transactions for $155 million in volume last year.

“Keller Williams Realty has shown that their model can adapt to any market, which was one of the driving forces in my decision,” said Rothchild, who has left Re/Max after 20 years as a franchisee. “I have been researching and contemplating for more than two years, and I discovered that I needed to reinvent my business to revitalize it. We were implementing some of the same philosophies and mirroring the Keller Williams system, so finally, one day we said…why reinvent the wheel? And, the answer was clear.”

Rothchild added, “KW’s philosophy of putting agents and ownership on the same side of the table and training on the most critical issues facing us in today’s market were also incredibly important to us.”

“We are thrilled to be in business with a talent like Joe. For the last 15 years, Joe has been one of the top 10 teams in Re/Max, and was number one worldwide for three years in a row! When a top franchisee from one of our competitors chooses to join us, we consider it a true honor and confirmation that we have unbelievable momentum behind our growth,” said Mark Willis, CEO of Keller Williams Realty.
Many of Rothchild’s current associates will be joining him at the Keller Williams Signature office. Among them, Dale Ross, an industry veteran with 29-years of experience under his belt, 25 of which have been with Re/Max. “When I factored in the Keller Williams Realty systems, training and support, and realized it was the place I needed to be,” said Ross.

This announcement comes on the heels of a year of positive growth for Keller Williams Realty throughout the U.S. and Canada. The company outpaced the downward trend in the real estate market and grew in every category – opening 30 new franchises, ending the year with a 16 percent year-over-year increase in the number of contracts closed per agent and more than 76,879 associates across North America (up three percent). In addition, the company gave back more than $32.2 million in profit share to its agents.

In addition to recently becoming the 3rd largest real estate company in the U.S., surpassing Re/Max, according to Steve Murray at REAL Trends, Keller Williams Realty received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row, and was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine.

2010 License Law Changes

On July 1, 2010, the new real estate license law (RCW 18.85) goes into effect, and your real estate licensing requirements will change. It is very important for you to understand what the new law means to you.

As of July 1, 2010:

* A salesperson license will continue to be in effect, but will be considered a broker license.
* An associate broker, branch manager, or designated broker license will continue to be in effect, but will be considered a managing broker license.
* All current licensees will be required to take a 3 clock-hour Transition Course (now available!) prior to their first renewal after July 1, 2010. After this renewal, licensees will be issued new licenses (i.e., a salesperson will be issued a broker's license, and a broker will be issued a managing broker's license).
* You will have to undergo fingerprint and background checks every six years.
* You will have to meet the following new requirements to get a license:
o For a broker's license, you must:
+ be at least 18 years old;
+ have a high school diploma or equivalent;
+ complete 90 hours of education (a 60 clock-hour Real Estate Fundamentals course and a 30 clock-hour Real Estate Practices course) within the two years prior to taking the licensing examination. (Now available!)
+ pass the real estate broker licensing examination; and
+ complete a fingerprint background check through the Washington State Patrol and the FBI.
o For a managing broker's license, you must:
+ be at least 18 years old;
+ have a high school diploma or the equivalent;
+ have three years' full-time experience as a real estate broker;
+ complete 90 hours of education (including a 30 clock-hour Real Estate Broker Management, a 30 clock-hour Business Management, and a 30 clock-hour Advanced Real Estate Law) within the three years prior to taking the managing broker examination; and
+ pass the managing broker licensing examination.
* If you were first licensed on or after July 1, 2010, you will have to complete the following for your first renewal:
o 30 clock-hour course in Advanced Real Estate Practices,
o 30 clock-hour course in Real Estate Law, and
o 30 clock-hour elective course, including 3 hours of Core.

Note: those licensed on or after July 1, 2010, do not need to take the Transition course for their first renewal.

Here are some other important changes that will take effect on July 1, 2010:

* New licensees will be subject to heightened supervision by their managers for two years.
* Only managing brokers can have supervisory authority. (Thus, team leaders must be managing brokers.) All delegations of authority must be in writing and signed by the designated broker and managing broker.
* A real estate firm will be separately licensed.
o The firm's designated broker (who is responsible for all of the firm's actions) must have a controlling interest in the firm.
o All advertising must include the firm name or assumed (DBA) name as licensed.
o Listings (and other brokerage services contracts) are the property of the firm, not the individual licensee who signs the documents.
o Firms may use more than one assumed name approved by the department when conducting their real estate activities.
* A managing broker may be the designated broker for more than one firm at a time.
* The definition of "business opportunity" is clarified so that a real estate license is only required if the business opportunity includes an interest in real property.

Fellow agent attacked

A few nights ago one of the agents in my office was victimized by a purse thief. During the attack the agent broke one finger in three places while fighting off the attacker. I spoke to the victim over the phone yesterday. She is doing well. Her son was frightened by the attack. He thought the attacker was trying to take his mother from him.
The pictures were taken from Fox Q13 News.

West Seattle Trick or Treat

Why Use a KW associate?

In our experience, a home isn't a dream home because of its room dimensions. It's about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding there.

This is about more than real estate. It's about your life and your dreams. Let our associates help you realize those dreams.

Our Difference:

Knowledge:

Powerful curriculum through Keller Williams University keeps our associates ahead of trends, tools and advancements in the real estate industry.

Teamwork:

Unlike other real estate companies, Keller Williams Realty was designed to reward agents for working together, to serve our clients better.

Reliability:

Keller Williams Realty was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting our client’s needs first.

Speed:

Leading-edge technology solutions accelerate our associates’ efficiency and productivity.