You'd think by now everybody that was going to refinance their home would have already done it.
Interest rates have been at record lows for months, right? But the answer is, that's not true.
There are 5 million homeowners in America that could benefit from refinancing. And here's how it breaks down, which is crazy:
450,000 of those loans have interest rates above 6.17%. Isn't that amazing In this day and age?
A million of those loans have interest rates above 4.39%.
And 3.6 million have interest rates above 4.21%.
So when we look at that, that's a huge opportunity for you to educate the market in your local area about the power of refinancing. Try partnering with a lender in your local market. And you guys could talk about that through a video or email — really reaching out and doing a good job with communication.
Now what's more powerful about this?
Did you know that when you refi a house, you don't get quite the best rate. You know...
What's one thing we all need to be concerned about?
We're starting to see inflation rise across many spectrums of the economy. And it is a little bit unnerving when we look at it. Inflation has actually crossed the 2% threshold it's actually past 4% right now.
It's different every month, but it's rising fast across all kinds of asset classes and employment. We're starting to see that real, serious pressure on wages. And a lot of wages have driven up.
We now have more job openings in our country than we've ever had recorded before. Think about what I just said: Job openings are wide open.
This idea that we have an unemployment rate is almost ridiculous because every American -- based on the amount of openings right now -- could be employed. They're choosing not to be employed in some areas or they're choosing not to go to work because of wages or whatever. But in a lot of areas, there's not just enough jobs, there's too...
Stephen is a Marine Corps veteran with a deep background in real estate sales, flipping and property management, print manufacturing, and of course, building and obtaining business credit. He has founded and led multiple successful companies and had as many as 300+ rental properties in his portfolio. Watch and listen as Stephen explain the importance of building your own business credit profile - which all of us can start doing today!
If you want a quick way to generate conversation through text with your Sphere of Influence, here's a great message that's resonating with a lot of my coaching students.
Look at your Sphere of Influence. Pull 5 or 10 people you're going to text today. And here's what you're going to say:
"Hey, have you ever looked at what your home is worth on Zillow? I'm curious as an agent, do you think it's sort of close, wrong, or right on the money?"
Watch what happens when you put this out to your Sphere of Influence.
Now, you can do it through a text or you could post it on social media. It's a great social media post and I guarantee you're going to get into a lot of conversations with people.
The end result of these conversations should be that Zillow is wrong 95% of the time.
In other words, 95% of the time, they don't get within 5% of their eventual sales price of the property. That Zillow's own data.
By the way, if you haven't looked at it,...
Have you ever heard of Dave Ramsey? A lot of us have heard of Dave Ramsey but he is someone that wasn't super popular like five years ago. But over the last few years, boy, he's really taken a leadership position even within the real estate industry.
So who's Dave Ramsey? Dave Ramsey is a financial author, consultant, and coach. He has a podcast and hosts a radio program, which is highly syndicated across the country in many different media outlets.
What Dave Ramsey is doing is interesting. Because a lot of people don't know that he's now earning upwards of $40 million a year just in real estate referrals.
What he's doing is he positions himself as someone that's the expert. And then people come and say, hey, who does Dave Ramsey trust in each of the markets to list my home? He then collects a referral fee by referring agents to his audiences.
What a brilliant idea.
But what's really interesting about this when we take a hard...
Why should somebody put their house on the market today as opposed to waiting?
I'm going to give you three reasons why somebody should put their home on the market today. And I'm also going to give you a script right now that's going to dive deep into those three reasons that you could actually put out on social media yourself.
Okay, you ready? Here's why someone should be on the market today:
1. Low competition.
Low competition means you're going to get more offers and higher offers on your home. We now have about a million homes for sale in the country. The lowest in recorded history. It's been hovering right there.
And when there's low inventory, that means the buyers in the marketplace are going to look more closely at the inventory available. It's going to drive prices up. So that's good news for us.
2. The average seller in America is receiving 4.8 offers per listing.
Think about that! That's the highest it's ever been. It's...
Join Henry Kaminski - 'The Brand Doctor' as he walks us through building an authentic brand that will resonate with buyers and sellers in your local market. Henry is a strategic thinker with a knack for uncovering customer insights that inform strategy development, and the ability to communicate ideas that inspire, inform, and captive.
Henry has worked with a diverse clientele, from Jon Bon Jovi, and Celebrity Chef Fabio Viviani, to internet expert Russell Brunson, who has named him the 'Million Dollar Designer.' This is a can't miss episode!
An interesting new study came out from Zillow recently that talked about what people's attitudes are related to working from home versus working in an office after COVID ends.
What's interesting is that 95% of the American population would prefer to work partly at home and partly at the office after COVID ends.
So big, big differences in how people want to work going forward. But even deeper than that — 36% of the population now prefers to work at home. So basically one third of Americans say they don't want to go back to an office after COVID ends. They just stay working remotely.
What does that mean for housing and real estate? Well, a couple of things:
It means that our trend, which has been trending towards smaller houses for a long time pre-COVID has reversed. Now we're trending towards larger homes where people can work from home, go to school from home, and really have multi-generational families in some cases where...
There's a question that we've had for a while now, which is: When are listing is going to come back in full force?
When can we have that expectation that we're going to start to see listings en masse start to come back to the marketplace?
We know there's been hesitancy because of COVID, but now that people are getting vaccines and the economy is strong. So when are we going to start to see people coming back and saying, Hey, I'm ready to make a sale. I'm ready to make a change.
There's an answer for us.
Zillow just did an extensive study talking to industry experts across the country. And the consensus is that it's going to be in the second half of 2021.
So we're coming right up onto that pretty soon here. And we're going to be right in the middle of 2021, which means we're going to start to see an acceleration of listings.
The question is: Are you ready for it? Are you out there lead generating to start stacking up that business now?
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