A new study from NAR shows what's going on with home buyers and it's really, really powerful data.

When we look at home buyers, these 2000 groups, we found that 52% of them had been pre-approved. So they've gone through the process and they're pre-approved.

When you look at the reverse of that number, that means 48% have not. About half the buyers you're competing with when you're in a multiple offer situation are just pre-qualified. They're not pre-approved.

Now you need to make sure that number one, you're having a conversation with your buyer about the importance of being pre-approved. And secondly, educating your sellers about the difference between the two.

One thing that I would encourage you to do is have a conversation with your buyers as a starting point. So here's what I would say with my buyers:

I'd say, "You know, we're still in an extremely low inventory market. Things are changing a little bit and a few more listings are coming to market, but it's still ...

We are in what we might describe as a normalizing market. What does that mean?

We've been in an abnormal market for several years. Our market's been almost a vertical. We've had double digit appreciation for several years. And this has been a run that we've never seen before.

We're about 12 years into a 7-year cycle. So there's an expectation that we're starting to see the markets shift.

A lot of us are seeing a slowdown of showings and energy. And there's some data that backs this up. Here's some of that data:

New listings in the largest 50 metro markets across the country rose 5.1% last month.

And 17.3% of all listings in the country had a price reduction in the last 30 days.

That's in line with pre-pandemic levels, what you would expect in coming into fall. So that's like 2016-2019 levels. Last year, we didn't see that because the market was straight up. It was on a tear.

But right now sellers are starting to say, "Hey, wait a second. I'm not getting the energy, th...

Hey guys, we know the market's changing. And because of that, every single showing you have on a listing is becoming more important.

We don't have unlimited showings anymore. A lot of showings are slowing down. So when we have a showing, you gotta treat a like gold.

So here's a question:

Are you preparing your sellers with checklists, to-dos, and forms that will help them prepare for each showing and really maximize the potential of getting an offer from a buyer?

Really what the client should be doing is making the home inviting, making sure that you're showing that the home has been cared for and maintained well, and third, we want to make sure you have great curb appeal.

Now I'm going to read to you a few things that you might want to include on your to-do list or your checklist or your forms that you could build out.

Now, when you do this, and we talk about these things, I want you to think about the last like 5 or 10 homes that you've shown and ask yourself were t...

Hey guys, you probably saw that the amount of jobs that were added in August to the economy was actually way lower than expected.

245,000 jobs.

A lot of people attribute that to the rise of the Delta virus and people may be slowing down on hiring. But one thing we can be sure of is that there are a lot of jobs available in America.

There's 10 and a half million jobs available right now. One thing that we're starting to see is unemployment benefits being turned off. Or at least not the incentives added by the federal government. So that might bring more people to work.

But right now we've got to deal with what's here now.

So job wage growth in America so far is up about 4.8%. The challenge is that inflation is also a 5.2%. So it's eating up all those gains. When we look at this in terms of what's going to happen in terms of the real estate market, Lawrence Yun — the chief economist for the International Association of REALTORS — tells us his expectation is that the gove...

Interesting question:

How much does what someone sees on TV impact their buying patterns or buying behavior?

And that's a question that was asked within the new staging report from the NAR — the National Association of Realtors. And here's what they found:

63% of REALTORS say that when they're out showing homes to buyers, that the buyers requested to view homes that were comparable to those that they had seen on TV.

Further:

Because of that, 35% of REALTORS say that they have patterned their staging around what they see on TV as well. So TV is definitely having an impact in the real world of selling real estate.

So when we look at those numbers, when we dig deeper, here's what's interesting:

When we ask the bigger question, how many REALTORS are actually staging listings at all?

Here's the numbers:

* 31% of REALTORS stage every listing.

* 13% only staged difficult homes

* 8% only stage high priced homes

But most interesting behind all this:

* 42% do not stage, b...

The listing market is about to blow up. We've seen all kinds of stats around this. Everybody's looking at the same wave coming towards us. The question is, what are we going to do about it?

We know 77% of homeowners believe now's a good time to sell.

1 in 10 homeowner's plans to list in the next year. And 63% in the next six months.

Here are 5 things you must have to get ready for the super surge of listings that's about ready to break into your market right now:

1. An in-depth marketing plan

Now this is a step-by-step, point-by-point marketing plan that's unique to you. Not just your office, not your company, not your brand, but to you personally that you give to every seller.

If you haven't developed this, we've actually developed one for all of our coaching students, which will blow your mind. But you need to take some time to develop one yourself.

2. Recent testimonials

Have you collected those on an 8.5x11 piece of paper that looks good? And have you collected ...

What should you be doing right now?

It's a question I get all the time as a coach.

I'm going to hand to you right my 9 Point Ultimate Business Strategy for every single person that's listening to this.

If you just apply this by 30 days, I want you to email me personally and tell me exactly what happened. Feel free to DM me. I would love to hear how has a blown up your business because I know it will.

Nine points you can implement today in your business. Ready? Write these ideas down.

Here we go:

1. Implement the "5x5x5 Strategy"

This is five calls. Five texts, five cards every day. Okay. That's one strategy we can implement.

2. Networking

Networking is so important and it's one of the most missed opportunities. We should be doing 1-2 networking meetings a week with somebody in our sphere of influence. Where we're connecting human being to human being.

Ideally you want to go higher than that. But 1-2 would be the minimum. This is going to breakfast, dinner, coffee,...

We have two reports that have recently come out that show the market could be in a shift. And what we mean by that is that we've had this huge frenzy, right? But here's a couple of studies that kind of back up the fact that a lot of you in a lot of markets are starting to report.

You're seeing the market not be quite as intense as it's been, not quite the frenzy.

So here's the reports that we have:

The first one shows that the share of consumers who hope to buy a home in the next six months went from 34% a year ago to just 21% this year.

So people are starting to have some definite fatigue and resistance to pricing that's out there.

And related to pricing, which kind of goes right along with that study, is a new study that shows that even though we're still posting double digit gains in most areas, the rate of price growth is beginning to slow.

When we look at this, it's the second time it's happened in 13 months. And again, it's showing that buyers are pulling back a...

Something super exciting happened in the last month that we haven't seen in the last 15 years:

Home prices on existing homes exceeded home prices for new homes.

Think about what I just said:

Existing home prices exceeded new home construction. So it was actually cheaper to go buy a brand new house nobody had ever lived in than buying an existing home. Absolutely amazing.

Lots of reasons behind that. But one of the reasons is normally when you're buying new construction, you're locking in a price six months earlier. And then they complete the new construction and you move in.

Well, the market has super accelerated in those last 6 months. And guess what's also happened:

Now, if you were to try to pull that off, what's happened with all kinds of lumber, supplies, and even appliances?

Prices have gone up.

So this will probably not be repeated anytime soon because now prices on new construction are beginning to rise again.

But what an interesting anomaly and just anothe...