Real Estate Coaching Radio

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How To Finally End Stress And Frustration Forever! Nov 09, 2023

Show notes

Do you ever feel frustrated, stuck, stressed, or lacking direction in real estate? There’s a simple solution to changing your mindset immediately and getting right back on track as a result. Get out of frustration and into gratitude. Showing it, feeling it, and living it. You’ll have nearly instant results!

Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206

IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com

Cicero called gratitude the parent of all virtues. The dictionary states that gratitude is the quality or state of being thankful. The more gratitude you show, the more you will personally feel it. This translates into a more fulfilled life, with less stress, angst, and worry. Lose those 3 a.m. real estate night sweats forever! Overtly show your thanks and you’ll find that you will achieve your own goals and feel more content along your journey.

Here are twenty different ways to express gratitude to your friends, your family, people in your center of influence, your prospects, and clients. You’ll become the person everyone wants to be around; the person that makes others feel great, and the person you’ve always wanted to be.

1. Write five thank-you notes daily.

It’s been proven that the simple act of writing thank you cards creates happiness not just for the receiver, but for the sender.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

2. How to send five cards, five days a week: Start by reflecting on the experiences you’ve had over the past 48 hours.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

3. Keep a Gratitude Journal

When researchers asked people to reflect on their past week and write about things that either irritated them or about which they felt grateful, those tasked with writing down positive experiences and observations were more optimistic, felt better about their lives, and got sick less!

4. Say a Kind Word

Make someone feel good about themselves unexpectedly.

5. Listen More Than You Speak

Be fascinated by the person who is speaking to you, instead of looking around, checking your phone, or getting ready to make the conversation circle back to yourself.

6. Bring Cookies or Flowers to a Friend, Colleague, or Neighbor

Make dinner for someone who is recovering from an illness or just had a baby.

7. Post a Positive Review

You use different products and services every single day.

8. Show Your Gratitude Overtly and Enthusiastically

Don’t be like everyone else and give the token ‘thanks’. Instead, be more expressive with phrases like, “You really saved my life on that one!”, or “That compliment you gave me really made my day!”

9. Notice and compliment specific things about people.

We can all name people who are always smiling, tell the best jokes, have the best manners, or are always dressed to the nines.

10. Volunteer your time and skills to support other people’s causes.

Pay attention to the charitable events your sphere of influence and past clients are involved in.

11. Be gracious when you’re challenged by a situation or person.

Show respect and manners even if you’re in serious disagreement.

12. Be Good at Accepting Compliments

You’re so kind, thank you for your lovely words!” Or “How thoughtful of you to notice that!”.

Are YOU The Problem, Do YOU Need An Upgrade? Nov 08, 2023

Show notes

Real Estate Agents: We've all heard the famous and true saying: "You never get a second chance at a first impression." Many studies have shown that the average person forms a lasting impression about another person after between 2 seconds and 2 minutes.

Think of the last person you met...what was your first impression of them and why? What do you remember about that encounter? Was it positive, negative, or neutral? Do you recall what they do for a living, their full name and if they have kids, and where they live? If not, perhaps they failed to make a great first impression. What would they say about you?

Other studies show that most real estate clients use the first agent they meet, so I'm sure you'll agree that this is something to work on and really curate. This is something about real estate that you CAN control.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

Your job now is to take a look at what your first impressions are both online and in real life. Howard Brinton used to call these 'Moments of Truth', or split-second judgments that the public makes about you. Are you friendly, trustworthy, professional, and knowledgeable or are you someone they casually meet and forget the next second?

Make a list of all of your potential points of contact or first impressions with the public:

Online: Facebook / Instagram / Linked In / What's App / Your Website / Your online real estate profiles on Zillow, Realtor.com, your broker's website, your digital newsletter, marketing campaigns, and any other apps you use.

Make sure to look at your credit card statement to capture any profiles you signed up for and forgot about.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Offline: Your Voicemail message, your sign, your home brochures, your car, your handshake, your directional signs, and how you dress.

Next, ask yourself these questions and polish up your profiles (first impressions) as necessary:

1. What are you trying to accomplish with each of these profiles? Are you trying to attract buyers and sellers? Realtor connections?

2. What does your profile LOOK like you're looking for? Are you a fisherman or a Realtor? Are you an investor or are you a broker? Both? Do you have any specialties? Are your previous employment profiles more prevalent than your Real Estate profiles?

3. Do you monitor your different assets or did you 'set it and forget it'? Is the information someone sees when they Google you still accurate across all of your profiles? Are you using a headshot from 2003? It's okay to eliminate the old accounts that you're not even using anyway. Fewer but better impressions are okay.

4. Do you have any unfinished profiles? Shadow pictures or blank descriptions look like you didn't follow through or maybe aren't even in the business anymore.

5. How does someone reach you? Is your mobile number easy to find or is it just your broker's number? Is your voicemail always full? What impression are you leaving with your methods of communication?

Proven Buyer Agent Prequalification Scripts For THIS Market! Nov 07, 2023

Show notes

Real Estate Agents: Are you finding it challenging to determine which of your buyer leads will actually buy? Will they buy with YOU?

Facts:

-There are more buyers in today's market than there are listings to sell them.

-Even when your buyers are both motivated AND qualified, you have no guarantee that you'll find them the right house, win a potential bidding war, and soon you may have to worry about how you'll get paid for your hard work. Prequalification just became more important than ever!

How do you determine which of your buyers will actually turn into a closed transaction? Who should you set appointments with to have a Buyer Presentation and get the Agency and Exclusive Agency documents signed?

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

The Buyer Prequalification Script is simply a conversational outline, using questions to find out the following from your buyer prospects. After using the Buyer Prequalification Script, you'll then meet your buyer prospects and use your Buyer Presentation to solidify your relationship, how you work, and how commissions work.

Today we are showing you just a few questions from the Buyer Prequalification Script. For the full script as well as the Buyer Presentation, simply join Premier Coaching for free today.

1. "I assume because you're calling/emailing/texting me directly, you're not already working with another agent?" This question happens early in the script so you can skip the rest of the script if they're already committed to another Realtor.

2. "What price has your lender told you NOT to go above?" This question covers all of the bases with regard to finding out about their financing. When you ask this question, they'll tell you if they're all cash. They'll tell you that they haven't got a lender yet, they'll tell you if they're pre-approved, and what price not to go over. Instead of asking all of those individual questions, the script "What price has your lender told you not to go above" gets straight to the answer.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

3. "Which home in the neighborhood do you plan on selling?" This helps you determine if they are also a listing lead! Note: many agents never ask this question when they get buyer leads. Don't make this mistake! Many buyer leads are listing leads in disguise.

4. "Paint me a picture. Ideally, what are you looking for in your next home?" The more you can drill down on the prospect's needs, the faster you can find what they want. This is critical since you may have to proactively find off-market homes for the prospect if what they desire simply isn't in the MLS.

Sign up for Premier Coaching today to get the full script, as well as the seller (listing) prequalification script, Pre Listing Package, Listing Presentation, and yes, the Buyer Presentation which results in a signed Buyer Representation Agreement.

Is The REAL ESTATE AGENT Purge Finally Happening? Nov 06, 2023

Show notes

It seems like almost everyone is predicting that the number of licensed real estate professionals is about to fall off a cliff. On today's show Tim and Julie Harris will drill down on the predictions that there is going to be a real estate agent purge.

-The number of sales is at an all-time low.

-Higher mortgage rates are causing many buyers to be sidelined.

-Inventory is still scarce.

-Weaker builders are stepping out of the market.

-Overall uncertainty of recession causes many to procrastinate housing decisions.

-Inflation continues to drive prices up.

All these facts are true, but it's also true that you have a real estate license and you need to earn a living. So let's pivot to see why you can still not just survive but thrive. We'll look at some facts and some immediate action steps to take.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Facts:

-Mortgage Interest Rates fell by a 1/2 point last week and are on track to at least stabilize, if not fall in the future.

-Demand is still very high, with nearly 3 offers for every closed transaction last month.

-Home prices continue to climb. This means the market is not crashing like people thought it would with higher rates.

-It doesn't pay to wait. Rates will probably come down and settle around 6 to 6.5%, but prices won't come down at the same rate, in fact, they probably won't come down at all! Evidence of this is the last big inflationary cycle during the late 70's and early 80's. Even when rates were as high as 19%, prices didn't fall, people still bought and sold and the sun kept rising and setting.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

-Demographics and household formation are on your side. 27% of recent closings were millennials who were NOT breaking up with low-interest-rate mortgages.

What to do NOW to be sure you'll survive and thrive? Will you still be in business next year, or will you be real estate road kill?

1. Get and follow an actual business plan immediately. The Real Estate Treasure Map, Survival Plan, and 90-Day Massive Action Plan are all included in Premier Coaching. You will have specific goals, an actual schedule, and a lead generation plan to follow.

2. Stop spending money on things that don't work or things that you think might work someday. You're gambling on your success when you're dependent on someone or something else to give you business. Do more of what IS working starting today.

3. Speak to 100% of your database before the end of the year. A minimum of 5 contacts per day on work days, but more is better. Use your F-O-R-D script and ask whom they know who could use your help buying or selling real estate. Offer a free comparative market analysis.

4. Systematize your open house system and have effective opens every weekend that's not a holiday weekend between now and the end of the year. Follow up immediately with all prospects.

5. Spend more time speaking to prospects about real estate than you do doom-scrolling for details about the commission lawsuits and other things you have no control over.

Real Estate Commission Sharing Lawsuit | What Happens Next? Nov 03, 2023

Show notes

1. Don't panic. The judge has not yet ruled on what changes will be made to how Buyer Agency works. This case, as well as several more, will take months to be finalized. For most agents and brokers, there are no immediate changes to be made. Check with your broker and your own MLS to see if any modifications have been made.

2. Do the brokerages and NAR have the money to pay? The actual amounts will likely be smaller, due to the fact that not everyone in the class action will participate in the settlement. Additionally, there will be appeals that could change the ultimate outcome of these cases as well as settlement figures.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

3. What will happen as a result of these lawsuits and settlements?

The most likely outcome:

The listing contract will change to be more transparent. The seller will have a choice of what to pay the listing agent and what to pay the buyer's agent. There will be two different places to fill out on the contract. Some listing agreements are already like this.

Hopefully, everyone (buyers, sellers, buyer's agents, and listing agents) will still agree that Buyer Agents have value. Because everyone is used to splitting commissions and sellers paying for both sides, there may not be any appreciable change to how things are done.

Note: In July of 2022, The NorthWest MLS (NW as in 26 counties in the Seattle area) did exactly what we just mentioned: It made it very clear that sellers had flexibility in how much commission they would offer to buyer's agents. They made it more obvious in the contract, and in the MLS, and gave agents the ability to create their own custom commission agreements depending on the situation. It also prohibited the ability to search listings based on commission.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

What happened with that?

Elite Coaching Client Brian Side (Seattle) explains it this way:

"In most cases, sellers continue to pay the lion's share of the buyer's broker's compensation, however, that will be tested. Buyer brokers must be able to articulate a clear value proposition or their compensation will be grossly and immediately devalued.

Some sellers have already offered zero compensation to buyers brokers in luxury properties based upon the attitude that if a buyer can afford an expensive property, then they can afford to compensate their broker, as well. Frankly, being prepared for all discussion points without fear, but rather facts, will win the day. Brokers must have multiple variations of the Seller Net Proceeds, and have actual evidence via the published MLS closed sales, failed sales, and time-on-market, that demonstrate the risk of low or no offered compensation. There is so much to know and do..."

How To Generate 5 Closings In 5 Weeks With ZERO Referral Fees! Nov 02, 2023

Show notes

Assumptions:

a) You have your contacts organized in some sort of CRM. The best CRM is the one you know how to use! (If you're with EXP, use KV Core).

b) You are coachable and will follow this plan exactly for 5 weeks, with no excuses, modifications, or exclusions! Remember, it's 5 weeks; not 5 days or 5 hours, 5 WEEKS.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

c) You aren't interested in throwing your money away on random leads or impressions and you'd rather be nurturing people who already know you! Those are your friends, past clients, professional sphere of influence, and new people you meet and add to your database.

THE PLAN. How to Get 5 Deals in 5 Weeks:

1. Record one simple and short video. In the video, you will do two things. First, a simple market update. You can find this in your weekly or monthly reports from your Board of Realtors. Next, you'll offer to send a free, comparable market analysis to see what their home is worth in today's market. Text or email you to receive your free analysis ASAP! Send this video to everyone in your CRM.

*Even if you haven't organized your database yet, you can still send it to at least 100 people in your smartphone contacts.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

*When you get a request, first CALL the person before you do the analysis. Ask why they are curious: interested in selling, or refinancing, or are they just curious?

2. At least two times per week for the next 5 weeks, take a past client to coffee or lunch. Use your F-O-R-D script (Family/Occupation/Recreation/Dreams) to get caught up with them and be sure to ask who they know who could use your help buying or selling real estate.

*Bonus if you can meet at another past client or friend's coffee shop, ice cream shop or restaurant! Connect your sphere of influence whenever possible.

3. Make FIVE Contacts per day to your past clients and sphere of influence, five days per week for five weeks. A contact is a conversation with a decision-making adult about real estate. Remember to ask : Who do they know who could use your help buying or selling real estate?

4. Go to at least THREE meetups per week and talk about real estate. These can be organizations, clubs, going to the gym, volunteering, or taking classes on something you're interested in.

*Bonus if you can make your meetings about real estate in some way: Maybe you'd like to be involved in your town's historical society or architectural review committee. Mix it up so you meet more people. Add them to your CRM.

5. Send at least FIVE handwritten cards per day. Send thank you or congratulations cards. Use Social Media to get ideas.

ALWAYS follow up by PHONE and with urgency when you get responses to these five strategies!

Stick to the plan 5 days per week for 5 weeks and report your results back to us! Message us on Instagram or email us directly!

If you'd like even more support and camaraderie as you implement this plan, simply join Premier Coaching by visiting PremierCoaching.com and signing up for free today.

Oh Sh!T, Real Estate Home Inspections KILLING Deals! Nov 01, 2023

Show notes

How do you successfully negotiate through home inspection challenges? How do you still make it to the closing table?

Agents fall into two categories on this issue. Which are you?

1. Experienced agents who have a Swiss army knife of solutions they can deploy to keep buyers and sellers happy and make it to closing. They don't panic, they just solve problems.

2. Agents who may be experienced in working with buyers and sellers but who have little experience negotiating home inspections because they haven't had to in the hot seller's market of the past decade, where sellers could just say 'Nope! Take it or leave it, I have 3 other offers!', or worse: no inspection at all for you if you want to buy it.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Whether you are in the first or second category, these points will help you navigate your toughest inspections.

Fact: Buyers are getting more control of the transaction and home inspections are happening again. So are home inspection negotiations! Worst case scenario, this becomes a secondary point of negotiation.

Everything could be on the table, including the purchase price, concessions from either or both sides and even the deal itself. This is a critical skill to improve upon so you'll virtually never lose a deal due to failing inspection items.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

What to do when you get that big grocery list of what the buyer wants fixed!

1. Listing agents: Consider having Seller's Coverage from a trusted home warranty company at the time you take the listing. Many items will be covered including HVAC, plumbing, and electric, and the cost isn't paid until closing. This will help with minor but common issues.

Homework: If you’re not already utilizing a great home warranty company, ask your broker who they recommend, or check them out here:

(Our favorite is AHS.com which is American Home Shield Warranty, but you can compare using this link). https://www.forbes.com/advisor/home-improvement/best-home-warranty- companies/

2. Buyers agents: Council your buyer about what is appropriate versus inappropriate to request. Safety and security items and health risks are typically appropriate. Cosmetic items are not.

Note: With all home inspections, the results will be one of these 4 outcomes.

Remember: Don’t give up! There’s always a way to keep the deal together.

a- Buyer gets nothing. Take it or leave it. They walk or they don’t.

b- Seller says yes to everything, they figured they'd have to deal with inspection items. Sometimes repairs are even underway.

c- Seller gives the buyer money to do the repairs themselves, based on estimates.

d- Some combination of the above possibilities. Repairs plus some money.

3. Buyer’s Agents: When presenting the home inspection to your buyers, simply ask them what they think. It's not your job to have an opinion, to be an expert, or to play home inspector. Often times what YOU are freaking out about might not be of concern to the buyer.

UGH! My Real Estate Listing Won't SELL! Here Is Your 6 Step Plan Oct 31, 2023

Show notes

Fact: There is no magical marketing plan, idea, campaign, or video that will get an overpriced, tough-to-sell listing sold! Stop looking for a miracle and sharpen your skills. The object is to be the listing agent at the time it sells.

First, review the facts of the subject property and the seller’s situation.

1. Do a new CMA. You now know the house better and you’ve had feedback. Since you’ve been listed, there have been new sales, new pending sales, and new active listings to compete with. Pretend it’s a new listing. Where would you price it TODAY?

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Consider the following:

• Absorption rate

• Days on Market

• List to sell price ratio

• Trends

• Number of homes you’re competing against.

2. Review the seller’s motivation. Why are they moving? Are they a have to move seller or just a want to move seller? Where are they going when it sells? Have they already moved out? Remember, their motivation may have changed since you first listed the home.

Note to self: If they’re buying with you and they don’t have a good feel for where they’ll be moving, this could be the issue. Why would they give you a better price if they don’t know where they’d move to?

Solution - Take them out for a long afternoon or even a full day to actually see what their options are. They need to fall in love with what’s next so that they can let go of what’s current.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

Secret: Sometimes new construction is the answer. Be sure you know what’s being built where and at what price points. Learn the builder incentives. This may require you to go out for a day and investigate the options.

3. Is keeping the home an option for your seller? Might they lease it? Always say YES to leasing it. You also may advertise it for lease and sale at the same time and decide what to do based on what happens first.

Secret: Once you actually discuss the reality of them being a landlord, the amount it will probably lease for, and what their net will be, they may change their mind about leasing it. Know how to research lease pricing if haven’t already.

4. Set up the “Reality Tour” for yourself and your seller. Do your research first so that you know what you’re going to show and how it impacts the subject property. Then, actually, take your seller(s) out on a showing trip where you’ll see what they’re competing against as well as what’s currently pending. Don’t over-coach them.

5. Discuss with the seller that, “taking it off and trying again next quarter/year/ season,” isn’t always the best plan. When do they have the most competition? Usually, it will be in the Spring. Many tough-to-sell listings will sell 4th quarter or 1st quarter when there’s less competition. Relocating executives usually move during these quarters.

6. Ask if their plan is to just re-list with someone new. What is the first thing a new agent is going to ask them to do? They will ask for a new price of course! Why lose valuable marketing time with re-staging, new photos, new videos, and new media when you can do this for them now?

What Is The BIGGEST Mistake Real Estate Agents Are Making NOW? Oct 30, 2023

Show notes

Procrastinating: What are you WAITING for? Here are the top 10 Procrastinations that are causing you to lose money every single day, followed by the solution to cure you of your waiting habit.

Ask yourself: What do you LOSE by procrastinating? Are you motivated by the carrot or the stick? Everyone claims they are motivated by their goals, doing more so they can have more, yet most don't get into action until they're about to LOSE something.

1. You're not taking action because you're certain the market will crash soon, creating the opportunity you think isn't here currently. You tell yourself that no one is buying due to higher rates and no one is selling because they’re ‘locked in’ to their low-interest rate mortgage loan.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

How do you explain the other 4 million transactions that DID happen while you were waiting?

2. You're waiting for the Inventory Fairy to sprinkle the right new listings into your MLS so you can finally get some of your buyers in contract. This also means you’re waiting on your buyers to see something in the ‘drip’ that they want to buy.

30% of last month’s closings were New Construction. Are you finding that inventory or are you still addicted to using only one tool, your MLS?

3. You're waiting for your next deal to materialize from your Center of Influence. You've always lucked out in the past, surely something will happen soon! What happened to all of the 'FOMO' that was out there?

Do you know which people on your database actually HAVE TO move in the next 90 days or less? Do they all know what their home is worth in today’s market?

“Procrastination is one of the most common and deadliest of diseases and its toll on success and happiness is heavy.”

— Attributed to Wayne Gretzky

4. You're waiting for your videos to get someone to list with you. Just keep on cranking out those TikToks. You must not have enough of them yet.

5. You're waiting for a call back from: your leads / the other agent / the home inspector / the appraiser / the mortgage guy. Waiting, waiting, waiting...

6. You're waiting for your scripts to be perfect. Just 10 more role play sessions, and you'll be ready to pick up that phone. Practice with real people who have real reasons to transact.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

7. You're waiting until you get back from vacation... which doesn't start for 2 weeks. You wouldn't want to have a deal happen while you're away now, would you?

8. You're waiting to find your Big Why. You haven't found your passion in the business, so you're not feeling motivated.

9. You're waiting until mortgage rates come down. Meanwhile, more than 25% of transactions are closing with all cash and lenders are offering free refinances to those who are closing now with higher rates. Date the rate, marry the home.

10. You're waiting for your listing(s) to sell. What 3 things are you doing differently now that the market is more calm with fewer buyers? Are you still expecting multiple offers and 10% over list?

The UPSIDE To A Down Real Estate Market Oct 27, 2023

Show notes

1 Buyers in the new market now have more choices. How many of your buyers were sidelined for months or even years, waiting to have more than one house to choose from? How many buyers opted to not have to be in a bidding war? How many of those buyers also have a home to sell, who told you they would have listed, but where would they go? When was the last time you spoke with them?

Inventory has inched up over the past 90 days, if only slightly. Some homes are taking longer to sell, and as days on the market increase, so do the number of choices.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

2. Buyers don’t have to guarantee appraisal gaps anymore. Homes are selling at or close to the list price, not massively above. No more worries for you about deals dying because buyers don’t have the downpayment PLUS the appraisal difference! This means each buyer’s savings actually goes further toward a stronger down payment, or keeping more reserve cash.

3. Sellers actually need you. Homes aren’t selling themselves anymore, pricing is more challenging, and staging matters. No more beating down your commission because they really didn’t see your value. The temptation to be a for sale by owner, or to not be particular about whom they list with, or to list with a discount broker is now waning.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

4. Commissions are going up on both the listing side and the buyer's side. Caring, competent and skilled agents are now in high demand. Fear of missing out (FOMO), plus scary headlines = sellers need your guidance to figure out what is actually going on in the market. Be the problem solver, the leader in an otherwise confusing market.

5. Builders love you again. Commission bonuses are already common, as high as 6% or more paid to buyer’s agents. If you’re not talking to builders right now, you’re missing out on opportunities for both your buyers and yourself! Identify new construction neighborhoods in your area, visit the model homes, get the list of promotions, and get your buyers the house they’ve been waiting for.

6. Builders also love buyers. Most builders are now offering in-house financing with loan buy-down programs, which start at an introductory low rate, adjust 1 to 3 times, and then lock in the rate on year three. This means buyers can afford more, still get a low rate, refinance later if they wish, and have a new home by the holidays.

7. Homes are still appreciating, and rents are still high. Thus being a homeowner still makes more sense than renting. Real estate is still one of the best, most stable, most predictable investments you can make. Thanks to inflation, you can still count on between 3 and 5% appreciation, year over year, according to the latest reports from many economists. Remember that ‘appreciating less’ is different than ‘depreciating’.

8. When you personally carry more listing inventory, your lead generation becomes easier, not harder. Having just 30 days on the market changes everything.

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