Real Estate Coaching Radio

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Feels Like A Punch In The Face! Why You Lost The Listing Jun 30, 2023

Show notes

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? Learn why Tim and Julie are top EXP Realty Sponsors in the world: https://whylibertas.com/harris

So You Didn’t Get the Listing - WHY NOT?

Fact: Of all activities in real estate, listings require the highest skill level. Working with buyers is physical labor; working with listings is mental labor.

Myth: It's okay and you can expect to list only 50% of what you go on, in terms of listing appointments versus listings taken.

Yet you wouldn't accept a grade of 50% from your kids, so why do you think it's acceptable for you? Let's take a look at the top ten reasons agents don’t walk away with signed paperwork on a listing appointment.

Fact: Listing agents make more money and have more solid businesses and more free time than buyer’s agents. The more listings you have, the more security you'll have mentally, emotionally, and financially.

Fact: Becoming a successful listing agent is the most challenging, most skill-based, and highest-paid part of your job. Not becoming great at this is a liability to your career. Make the commitment to learn the most important part of your job as a real estate professional.

The Top Ten Reasons Agents Don’t Walk Away With Signed Paperwork

1. You assumed it was yours and were lazy in your presentation.

You took the business for granted. This manifests in several major mistakes. You showed up late or you did not give a real presentation. Or maybe it was a lack of prequalifying questions, or not being careful with price. Some other mistakes are things like rescheduling and not looking and sounding your best.

This mistake is more common with veteran agents when they assume their past clients or friends won't talk with other agents. Don't make this mistake!

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/

2. You didn’t know you were competing for the listing.

This is a result of not using a prequalification script. If you don't know whether you're competing or not, you're at a disadvantage. You should almost always go last in the line-up because that's the closing position.

3. You didn’t know what price the seller had in mind before you showed up.

This doesn't mean they're right about the price, but you should know what's going on in their pricing brain before you present your CMA.

Sometimes sellers know about private sales that may affect pricing. The market is full of sales like this currently.

Secret: Don’t ever allow the seller to know more about comparable sales than you do. The only solution to this is the Seller Prequalification script, where you ask questions like: "Which recently sold home in your neighborhood is yours most similar to?"

4. You don’t know the competition or the neighborhood well enough to speak with authority.

Secret: Preview the competition! Know the average Days on the Market not just for the town or city, but for the actual neighborhood. Know the list-to-sell price ratio for the latest comparables. Know if that’s going up or down or remaining stable.

5. You were overly rigid with your commission and/or pricing.

NEW RULES: Working With Real Estate Home Buyers In 2023-2024 Jun 29, 2023

Show notes

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? Learn why Tim and Julie are top EXP Realty Sponsors in the world: https://whylibertas.com/harris

Todays show is focusing on real estate BUYERS...lets start with a few facts:

Fact: No buyer actually HAS TO buy. They can always rent, move in with parents or kids, travel the country in an RV, keep their current home, live in corporate housing, or extend their current lease. A 1030 buyer can just pay the taxes.

Fact: When you have enough active listings, you can refer your buyer prospects to buyer partners for a referral fee. When you work with buyers yourself, they can be your own repeat and referral clients, luxury or buyers whose listings you have.

With the changing market conditions, rising interest rates, and uncertainty in the economy, it's important to know which buyers you should spend time with and which may not be serious. How do you know the difference?

1. Buyers should be both motivated AND qualified. It's possible to be really motivated but not actually qualified as well as the other way around. Look at your buyer list and ask yourself if they are both. Can you know for certain? Are you using a buyer pre-qualification script where you ask specific questions? How well do you understand their needs, motivation, and qualification?

2. In order to see property with you, buyers must either have a proof of funds letter if they're all cash or pre-approval letter with specific qualifiers from their lender. Ideally, they are actually at loan commitment, pending only the identification (and perhaps appraisal) of the property.

Lender Letter MUST include all of the things that actually go into a real loan commitment:

-Verification of down payment

-Verification of employment

-Ratios are acceptable

-All 3 credit bureau scores have been verified

-Not contingent on anything except identification of the property and appraisal at or above the purchase price

-Purchaser is a US Citizen

-Pre-approved to purchase at the price they are in contract for

3. Buyers must be non-combative and 'coachable' by you. Meet and present your buyer presentation, educating them on market conditions as well as what they should expect from you. If, after that presentation, they still want to 'lowball' or look before they're prequalified, they may not be serious.

Note: This has become more of an issue with the shifting market. Sellers still have very high expectations; buyers read headlines like '30% increase in price reductions'. Some buyers insist on coming in too low, causing them to be outbid. Some sellers counter offer full-price offers because they expected to sell for more than the list price. It's your job (and the other agents) to negotiate a meeting of the minds.

Ultimately, the answer to all of your buyer challenges is one very important thing. Become a powerful listing agent. The more listings you have, the more leads you'll generate on your own. You'll have more control of your time, income stability, and freedom. Until then, make sure you're always following the 6 points from today's podcast about determining which buyers will actually BUY!

Real Estate Agents Daily Success Schedule For THIS Market Jun 28, 2023

Show notes

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.

What do all successful Realtors have in common? They don't just HAVE a schedule, they actually follow it, but it's not what you think. It's not a matter of scheduling every minute with a task or grinding out relentless cold calls.

The daily success schedule of top-producing agents is all about having daily minimum standards related directly to profit and being relentless about them. Today we'll show you what they do, so you can follow the same plan and find success faster!

1. Use and update your Visual Accountability White Boards every day. You should be tracking all of the following, based on your goals: (Use the Real Estate Treasure Map).

-Leads. -Active Listings. -Buyers. -Pending closings. -Closed transactions.

2. Review your finances every day. Use Mint.com as your 'dashboard' of Key Performance Indicators or KPI's. Your savings, checking, credit cards, investment accounts, investment properties, and everything else financial is visible using Mint.com. This includes your credit scores as well as your upcoming bills and actual budget.

3. Make contact (a conversation with a decision-making adult about real estate) with at least the same number of people as transactions you must do this year. If you must close 20 transactions to meet or exceed your goals this year, you must make 20 actual contacts daily to meet that goal. Adjust as your skills increase. Focus on people who are most likely to sell. Example: Existing listing leads you just need to close on, expired, for sale by owners, probate, relocation, past clients, and referrals. Just-listed and Just Sold calls don't count unless they are directly around your own listing(s).

4. Furiously fast lead follow-up on 100% of your leads, 100% of the time, with no exceptions or excuses. If you're a Premier Coaching member, review 18 Relentless Lead Follow-Up Rules.

5. Show gratitude overtly to those you care about. Start your day out right saying I love you and giving hugs and kisses. Then write and send at least 3 thank you or congratulations cards to past clients or people in your sphere of influence. Use social media for ideas about who got a promotion or had a kid get married or graduate.

As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/

6. Set a new, prequalified appointment before noon every work day, ideally with sellers. When you're doing #4 (Furiously Fast Lead Follow-Up), this will be much easier to achieve. If you don't have enough leads to set appointments regularly, go back to #3 on this plan.

7. Doorknock or call at least one Unrepresented Seller (FSBO) each day. You sell real estate for a living. They have a home to sell. Their phone number is on their sign!

Real Estate Agents 12-Step Real Estate Podcasting Launch Plan (2) Jun 27, 2023

Show notes

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.

This is PART 2: Real Estate Agents 12 Step Real Estate Podcasting Launch Plan

Facts:

This podcast, Real Estate Coaching Radio (RECR) IS:

* #1 Listened to DAILY podcast for real estate professionals in the United States. We publish every weekday.

* Named one of the "Most Influential Real Estate Podcasts" by Inman News, Motley Fool, National Association of Realtors, and dozens of others.

* Downloaded in over 60 countries and often #1 in Education on iTunes (in Peru, for example)

* RECR has over 2000 shows on iTunes and over 5000 shows in the archive.

* RECR is in the top .05% of all podcasts in the world. For example, we have had over 50k downloads in a day depending on the topic.

* RECR listeners were surveyed and 93% were IN real estate or planning on getting a license. 7% were 'other'.

* We have been hosting this podcast for over 10 years.

6) How to get downloads, which iTunes category? Choose the category with the least competition. Big categories like Business are too hard to rank in. Does ranking really matter? Not really. You need to market your show when you are starting. Market via direct email, market via being on other podcasts (as a guest), and market on social. It's UNKNOWN how Itunes decides list placement. It is believed they track the number of new subscribers you had in the last reporting period. We have been as high as 23 globally in education but are usually in the top 300. We still have up to 55k downloads per show every day. The bottom line is don't worry about the lists.

7) Media syndication. This is the name of the game. You should have your show appear on all the top podcast services (and youtube). We use audio bursts for YT content. The global leader in podcasts is iTunes. However, stitcher is the go-to for androids. 95% of all our 20m downloads in iTunes.

As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/

What is a successful podcast, how many downloads (listens) should I be getting?

In a world of YouTube views and Twitter followers, we've become accustomed to figures in the hundreds of thousands, and even millions.

It's important to realize though, these numbers are completely irrelevant to podcasting. The time and effort it takes for someone to click ‘Follow' on Twitter or watch a few seconds of a Youtube video, should never be compared to podcast listening. Podcasting listeners are about long-term relationship building. Podcast listening is a commitment and an investment.

Never compare your average podcast downloads to someone else's Instagram followers. Consider this, a good-selling book sells 250 copies per year with lifetime sales of only 3,000 total sales, ever. 81 percent of adults aged between 18 and 29 years old had read a book in any format in the previous year. It has been stated that over 90% of all books that people BUY are never read. The point being, if your show is 30 minutes long, and you have even 50 people downloading 4 times per month for 12 months your content is getting more attention than most authors will in a lifetime.

Benchmarks:

If your new episode gets, within 7 days of its release:

more than 26 downloads, you're in the top 50% of podcasts.

more than 72 downloads, you're in the top 25% of podcasts.

more than 231 downloads, you're in the top 10% of podcasts.

more than 539 downloads, you're in the top 5% of podcasts.

more than 3062 downloads, you're in the top 1% of podcasts.

Real Estate Agents 12-Step Real Estate Podcasting Launch Plan Jun 26, 2023

Show notes

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.

This is PART 1 of 2: Real Estate Agents 12 Step Real Estate Podcasting Launch Plan

Why podcast versus radio or other apps like radio or clubhouse, etc.?

-Podcasting is on-demand and can be replayed and shared.

-Podcasting fosters community, lead generation, and an ongoing relationship with your listeners.

-Podcasting is efficient at reaching multitudes of people for minimum expenditure.

-Podcasts are not time zone or geography dependent.

-Podcasts are easily produced by YOU, not dependent on third parties.

The best way to illustrate the creation and production of an award-winning podcast is to use Real Estate Coaching Radio as our case study. Many of you have asked for help with starting, maintaining, and monetizing a quality podcast.

Facts First:

Real Estate Coaching Radio is the #1 listened-to Real Estate Podcast in the country.

Real Estate Coaching Radio (RECR) is a 30-45 minute live daily podcast,

downloaded in over 60 countries and often #1 in Education on iTunes (in Peru, for example).

Real Estate Coaching Radio has over 2000 shows on iTunes and over 5,000 shows in the archive. It’s in the top .05% of all podcasts in the world. We have had over 50,000 downloads in a day depending on the topic.

Our listeners were surveyed and 93% were IN real estate or planning on getting a license. 7% were 'other'.

So what about YOUR podcast? How to get started?

The most important questions you must answer:

Who is your show for? Who are you trying to serve?

To answer that question, create an ‘Avatar’…let’s call him ‘Bob’. Bob is your target listener; he’s who you’re trying to reach.

Who is Bob? Describe Bob. How old is Bob? Where does Bob live? What does Bob do on the weekends? What are Bob’s hopes, fears, and ambitions? What is Bob’s annual gross income (podcast listeners are often older, well-educated, and well-off financially)?

How does Bob want to feel after listening to your show? Is Bob like you? If yes, that's easy. Make a show you would listen to. When considering a topic: Ask yourself, why does Bob care about this? If you have to tell Bob why he cares then it is a crap topic. Bob has to already care; it has to be meaningful to him without you explaining it.

As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/

In our case, we aim to motivate, educate and get you into action.

Mindset drill-down:

Imagine Bob is in the room with you and you’re having a conversation with him. You truly care about Bob and want to make his life better. Make the show about helping Bob...not trying to make yourself famous.

Worth repeating, make your WORK famous because of all the people (your) work product helped...don't try to make yourself famous. That is the mindset that wins, 100% of the time. When in doubt, lead with this mindset.

Real Estate Coaches, The Good, The Bad...and The Ugly Jun 23, 2023

Show notes

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.

What is coaching? And what coaching is NOT...

Many of you have sent texts, emails and found us on Instagram, curious about coaching. This podcast should answer your questions!

1. Coaching is not the same as training. Training is when someone (like your broker, team leader, or office manager) TELLS you to do something or to try something. Then you're left alone to figure it out.

Training: "You need more leads. Maybe you should try buying some. That's what some agents do."

Training: "Try an open house. Sometimes that can work."

Coaching: Let's discuss the different types of lead sources, what the ratios are in terms of contacts vs. appointments, and what it costs in terms of time and money, and then formulate your 'spokes in the wheel' plan. Let's also take a look at your skills, your strengths, and formulate a PLAN, a schedule, and specific goals so that you'll be able to tell if you're on track, ahead or behind.

2. Coaching is educating you about something, showing you how to do it, helping you find any tools necessary to accomplish the goal, and holding you accountable for the results.

Perhaps you're not pursuing Expired Listings right now because you don't know where to get the phone numbers, you don't know what to say, how to handle objections, and how to close the appointment. Coaching closes that gap.

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. Coaching is identifying your strengths and weaknesses. It is holding you accountable to getting more from your strengths and eliminating weaknesses through the formation of systems. Sometimes this means leveraging technology, and sometimes people, but often it's helping you obtain and polish a higher level of skill.

Maybe you've been doing the same thing for a couple of years and it worked for a while, but now you're just not getting the same results. What is that thing, why aren't you getting results and what do you need to do to change course?

Maybe you haven't actually had ANY plan, but were successful thanks to a hot seller's market, historically low-interest rates, and lots of Fear of Missing Out in the market.

4. Coaching will not manufacture motivation for you, but a great coach will help you find and maintain a higher level of motivation. This is done by helping you develop new skills and confidence which allow you to achieve more success in less time than you could or would on your own.

A good coach instills in you the discipline of "Doing what you don't want to do when you don't want to do it at the highest level", but helps you achieve that faster and more consistently than you can on your own, so you get the results you're looking for.

Join Premier Coaching by finding the link below in the description or...

TEXT Julie directly to see if you should be an Elite, one-on-one client.

512.758.1008.

Why Your Listing Won't Sell and What To Do About It Jun 22, 2023

Show notes

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.

Why does it seem that some listings sell immediately, with multiple offers but OTHER listings seem to be sitting??? Which are you experiencing? What are you expecting? What are your seller's expectations?

Now that there are fewer buyers looking, each showing is far more valuable to you as a listing agent. No one wants to have slow or no showings and then have to talk to the seller who trusted you and figure out what to say to them while the house languishes on the market. That’s no fun.

What causes a listing to NOT sell? Why does a listing expire? Why does it get deprioritized by buyers or buyers' agents? Why would a seller fire you when it's only been on the market a few weeks? How can a listing actually get zero showings, especially when OTHER listings sell immediately? This is a symptom of a changing market!

15 Super Secret Strategies to Sell Your Listings Faster

1. Is your listing poorly presented? Perhaps it has poor or no staging. This includes clutter, questionable smells, not being clean, and not being bright. The goal is for the listing to show like a new construction model home. Consider adding shoe covers in a basket in the foyer. 'Please remove your shoes or cover them to protect the floors which may someday be yours!'

2. Does your listing have a non-compelling description? This includes plain vanilla words like 'open and airy floor plan'. Don't make it sound like every other listing. Make the description convince me to show this property FIRST.

3. The pictures aren't exciting, or worse they're off-putting. This includes tiny iPhone pictures, pictures with kids sleeping in their beds, kitchen pictures with dirty dishes, bathroom pics with toilet lids up, the agent's reflection taking the picture in the bathroom mirror, and any number of unprofessional pictures.

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

This issue is easy to fix. Hire a professional photographer, or take a photography class yourself. There are tons of easy and free photo tutorials on YouTube.

4. Does your listing have too many showing restrictions? If you can only show it on a Friday afternoon if the baby isn't sleeping and it's sunny outside, you won't get many showings! If you can't show it, you can't sell it. This also applies to alarm systems, guard gates, and other complicated security measures.

5. Does your listing have poor curb appeal? 50% of the buying decision is made from the street. Does your listing look like a house that someone would be proud to come home to, or does it look abandoned? Do some simple things to improve the curb appeal, like a wreath on the door, a nice front doormat, plants on the porch, landscaping, weed removal, un-dead the grass, un-green the pool, etc.

Work to eliminate these 15 potential challenges BEFORE you launch the listing. If that's impossible, you must PRICE the home to be more competitive. It's no longer good enough for a listing to just be available. The home you're listing must SHINE and be the clear choice for any buyer who sees it.

Are 2023-2024 Housing Crash Predictions ALL Lies? Jun 21, 2023

Show notes

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.

Real estate agents, buyers, sellers, and renters all have the same question on their mind right now... Will the housing market crash? Will prices collapse and inventory avalanche? There are many conflicting 'experts' who claim a crash is looming. What follows are facts, not fiction.

After you hear all of these facts, the prevailing thoughts you will have are confidence, direction, and a sense of purpose. Your purpose is to be of service to others as a real estate professional. Your role is to be of service to those who need to buy or sell a home.

Knowledge equals confidence and ignorance equals fear. Our job is to educate you, motivate you and get you into action so let's get started!

All Facts, No Fiction!

1. About 10% of all mortgages are adjustable rates. NOT like the great housing crash. Fewer than 1% of sales this year have been distressed, according to the National Association of Realtors.

2. 40% of all homes are owned with no loan. Several states in the US have more than 50% mortgage-free homeowners.

Note: In 2008, California led the housing crash but currently, 30% of homeowners in that state have NO mortgage at all.

3. The average mortgage interest rate for homes closed in 2022, even with the higher rates of late, is less than 4.52%, most of which are 30-year fixed loans. More than 28% of closings are all cash. (up from 25% last year) You can't default if there's no mortgage, and you are unlikely to default if your rate doesn't adjust to a payment you can't handle.

4. According to Black Knight, US Mortgage delinquencies have fallen to an all-time low of just 2.75%. Don't buy it when someone is selling you a list of REOs.

5. Home prices have inflated on average by 48% nationwide between 2020 and 2022. Just because they're only going up by 1 to 5% this year is NOT something to be disturbed by! A 3% price reduction on a home that hasn't sold is not the same as a price crash.

6. There will be approximately 4.5 million home sales in 2023. This means nearly 9 million commissions will be paid. How many do you need to meet or exceed your goals?

7. The Average days on the market have gone DOWN, not UP. Last year was 29, this year is now averaging only 22. This does not happen with a housing crash.

8. Demographics. There are 331,893,745 Americans. There are 72.1 million Millennials who are 26-41 years old. Baby Boomers 58-76, 71.6 million. One of those groups is growing in size as they grow their families. Immigrants are also a growing number of homebuyers. Both of those massive groups will be buying and selling in greater numbers over the next 10 years. Add to this Generation X which is 42-57 and has a group size of 65.2 million. Demand is quite healthy and supply is still low.

9. Buyers will continue to want to buy instead of rent. Refer to our podcast about why it's still better to rent than buy. First-time buyers make up about 27% of today's market.

Bottom line? Stop freaking out! This time is not even close to being like last time! Build your skills in this market and they'll serve you in ANY market.

10 Biggest REALTOR Regrets You Must Avoid Jun 20, 2023

Show notes

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.

1 Being BUSY versus being PRODUCTIVE. Knowing what leads to your actual profit versus practicing ‘work theatre’. Memorize your action list of productivity and don’t waiver from it.

Lead Generation / Furiously fast lead follow up / Prequalifying / Presenting / Negotiating / Closing / lather…rinse…repeat!

2 Not showing overt gratitude to those who matter most. Someone once wrote about a gentleman they encountered at a graveyard, who was placing flowers on his deceased wife’s grave. He said, ‘Every day since she passed away I’ve come here to bring her these flowers…I should have done that long ago…she really would’ve loved that.’ Don’t wait until it’s too late.

3 Spending too much time ‘getting ready to get started’, and staying in unconscious incompetence perpetually. This is a result of analysis paralysis, following the wrong ‘guru’, not being your own ‘guru’, lack of exposure to success, or possibly just laziness. All of these things are curable but you must be proactive.

4 Health and fitness fails. How long are you going to wait to get in shape? Does it take a health scare to get you into action? Working out at OrangeTheory, CrossFit, Zumba, etc, is not just good for you but will grow your business. Learn the F-O-R-D script!

5 Relying on the Three B’s of BS for your success. Building a team, buying business, or building your brand. None of these is related to your success. Stop looking for external reasons and take ownership of your trajectory. Learn to proactively lead generate, or you will never be in control of your potential!

6 Allowing a failure, string of failures, or a bad month to become your ‘theme song’ versus just saying ‘next’ and moving on. ‘It’s too soon to tell’ is better than making your temporary failure into an adult failure spiral.

7 Having to be right all the time. Lack of flexibility, being overly rigid, and not having versatility are all hazards to your income, your reputation, and your ability to achieve your dreams.

8 Not setting goals. A goal is a dream with an action plan. A goal is Specific, Measurable, Achievable, Realistic, and Timely, or ‘SMART’. Saying you need to earn more money next year is a dream. Stating you will save $25,000 by December 31st by adding 2 more lead generation spokes, saving 10% from every check, and closing 8 more transactions, doing it all before December 31st, now that’s a GOAL.

9 Playing the long game versus focusing on shorter, more attainable goals. You don’t have to know all the steps, just the first one. Do THAT. Then do the next one. The steps you take as you’re achieving are often different than how you thought it would go when you were procrastinating.

10 Doing all this by yourself. Guessing your way through / winging it. Get help! Why try to reinvent the wheel? Do what is proven to work, then repeat it. This is not a business to ‘try things out’, to ‘see what happens’. That’s costly in terms of both time and money. Get a coach. Be coachable. Do it today.

Why NOW Is The Best Time Buy A Home (Waiting = Losing) Jun 19, 2023

Show notes

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.

Agents and brokers, are you wondering how to speak to your buyer prospects? What about your listing prospects who are also buyers? Is it still a great time to buy a home? Stop avoiding the conversation because you're freaked out about the shifting market.

It's time to find the silver lining in this shifting market. Yes, it IS still a great time to buy a home, and here's why:

14 Reasons Why It’s Still A Great Time To Buy A Home!

The question isn’t, “Is this a good time to buy a home?”, the question is, “Will tomorrow be a better time to buy a home?” Why or why not?

1-Interest rates are higher than in the pandemic years, but they are historically low. A global pandemic where the Fed throws money at the economy and simultaneously drives interest rates to the lowest ever recorded is NOT ‘normal’. Lock in your rate now and if it goes up, you’re locked in. If it goes down, you refinance. Date the rate, marry the home.

The average 30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023, reaching an all-time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021.

2-In today’s market, you may be able to negotiate with sellers who have been on the market more than 30 days., you might even be the only offer they’re considering, you can have the home inspected, possibly re-negotiate to handle any repairs, and maybe even pay less than 100% of the list price, and even get the seller to pay your closing costs. Additionally, you’ll actually have more than one home to choose from!

*Note: Do your homework on the listing before you make assumptions. There are still bidding wars out there, but there are also expired listings, longer days on the market listings, and sellers who are more motivated today than they were when they were freshly listed.

3-Inflation will cause home prices to continue to rise. Waiting means your purchase price will be higher and so will your down payment requirement since it’s based on a percentage of the purchase price. Your ratios could also be too high since the payment will be higher if you wait.

4-When you pay rent, you’re paying 100% interest, building zero equity and you have all of the risks.

5-When you pay rent, you’re not locked into anything for more than a year, two years if you’re lucky. The owner can sell the home, raise your rent payment or simply not renew your lease.

6-When you pay rent, you’re guaranteed to be paying more next year unless you want to move, assuming the owner still wants to lease to you. Don’t forget the cost of actually moving! You can’t just refinance or renegotiate your rent payment.

7-When you purchase a home, you’re securing an asset and releasing yourself from the liability of renting.

8-Owning real estate allows you to have more versatility of the asset. You can live in it, rent it, make it a vacation rental, refinance and pull equity from it, home office in it, or sell it.

Knowledge equals power, ignorance equals fear. It's our job to educate, motivate and get you into action. It's YOUR job to educate, motivate and get your prospects into action.

Set a specific, 30-day goal for how many new, pre-qualified buyer and seller appointments you'll secure. Get help from our Harris Certified Coaches by joining Premier Coaching for free. Visit PremierCoaching.com

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