Why Waiting Is More Expensive Than Buying Right Now

         

At this time of year, a lot of sellers will say something like this:

"Hey Jim, I think I'm just going to wait because I will probably get more from my house later anyway. So I'm just going to wait until spring or summer and see what happens then."

How do we address that comment or that concern?

I'm going to give you one script that's worked for me over the years. And it works by talking about the fact that when we're staying and rebuying in the same market, waiting doesn't make a lot of sense.

So let's put this in practice. You might say,

"Hey, I hear what you're saying, but here's something to consider, right? If you're buying or selling in the same market -- because the entire market's going up in value at the same time -- waiting to sell your home to buy another home just means the other home you're buying is also going up in value at the same time.

In fact, there's a little bit of a Delta that if you're buying a higher...

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How To Use Supply Chain Issues To Help Your Prospecting

        

Now we've all heard of supply chain issues hitting the entire country. Lots of things happening because of COVID breaking down the supply chains.

But is this impacting real estate?

It absolutely is impacting real estate. It's impacting builders. It's impacting all kinds of vendors that are tied to real estate.

My wife and I are remodeling a house and we've had to wait six months for the cabinets to come in. It's impacting remodeling and flipping and all kinds of areas that we don't necessarily consider tied to the supply chain.

But real estate is definitely one of those areas.

So how can we use this?

Here's one way we can use it when we're out prospecting is talking about supply chain issues because everybody can identify with it right now.

So you might just say:

"Hey, you know, what, can you do me a huge favor? Even real estate is facing supply chain issues. We're facing very low inventory compared to most years and huge buyer...

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The “Incentive Trick” for Selling Your Homes In a Jiffy

         

At this time last year, 46% of sellers were offering some kind of incentive to buyers to encourage them to make an offer on their house over the competition.

Now, those incentives could have been anything from closing costs, down payment assistance, home warranties, pre-paying for services. There were lots of different incentives that could have been thrown into the mix.

But this year that number has dropped down to 26%. But this is still a very high number.

And you can describe this to sellers like this: 

"Hey, listen, it might be kind of surprising, but about one out of every four of sellers that we're competing with in the marketplace is actually offering an incentive to the buyer to encourage them to make an offer on their home. So it's something for us to consider. We got a great price, but maybe that would make our home stand out just a little bit more is thinking about an incentive.

Let me describe what could mean:

...
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The Top 7 Reasons Why Homeowners Sell Their Home

        

What are the top seven reasons why someone would want to sell in your market?

Well, according to the National Association of REALTORS new profile of home buyers and sellers across the country, here are the top reasons:

1. They want to move closer to family and friends — 18% of the time.

2. Their home is too small — 17% of the time.

3. Their neighborhood has become less desirable — 11% of the time.

4. Their home is too large — 9% of the time.

(Add the too large to the too small, and you got 26% of the time they want to sell has to do with the size of their home.)

5. A change in their family situation — 9% of the time.

6. Moving due to retirement — 7% of the time.

7. Job relocation — another 7% of the time.

So why do we care?

Here's the reason why:

Instead of talking about generalities like do you want to sell your home? Are you ready to move? Let's talk about specifics when you're doing...

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Podcast #34 - How to Scale Your Digital Marketing Campaigns w/ Real Estate Titan Greg Fowler

 

Join this conversation featuring the founder of Lion Bolt Media and the host of the Real Estate Titan Podcast as we explore how agents can quickly scale their business using technology. Greg has had the privilege of learning from and teaching thousands of real estate professionals from all over the world for well over a decade. With over 17 years in the sales and digital marketing space Greg has become one of the foremost experts in real estate technology, tools and trends. His dedication to constant education and research has enabled him to help countless real estate professionals across the country become top producers and accelerate their overall growth in real estate to the highest levels. Ambitious, passionate, and loyal, Greg has left an indelible mark on the industry and won over many fans and clients impressed by his digital marketing knowledge, energy, and professionalism. This is a can’t miss episode!

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Podcast #33- Tax Tips for REALTORS and Investors w/ CPA Brandon Hall

        

Join Tax Expert Brandon Hall as he walks us through incredible tax tips that can immediately begin saving you thousands of dollars on your next tax bill. Listen as he explains the importance of corporate structures (even for brand new agents), the keys to categorizing expenses, and some of the easiest tech to track mileage and receipts.

Also check out Brandon’s walk through of the power of the Passive Loss rules when it comes to real estate agents and exactly how you can use these rules to offset your income and grow your wealth faster. This is a can’t miss episode!

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The “Delta Opportunity” for Investment Property Right Now

        

If you know people in your sphere of influence that own investment property, I've got some good news. Also, if you own an investment property, I've got good news. And if you're trying to sell investment property, I've got good news:

The investment property side of our business is going through a real resurgence right now. We knew during COVID they got kinda hit. We know the eviction moratoriums made it really tough for them. But now we're starting to see people come back out of that.

So here's a few good numbers in that arena that come from us from the NAR economist blog:

Two of them are dealing with absorption rates. Absorption rates, meaning how many units are being absorbed by the market.

In Q2 and Q3 of this year, 700,000 units were absorbed by this market. It's a lot of units, but completely instantly absorbed by the market.

Vacancy rates have fallen in 2011-ish from 6.9 back then all the way down to 4.6 now. That's a nationwide...

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Home Sales Took A Sharp, Upward Turn in September

       

This week, we got some great information from NAR and some good news for the market.

We've had this kind of trending downline with home sales across the country. Now we've had a sharp turn in sales:

Sales are up 7% compared to September.

So why would we have this kind of dramatic increase in sales right now coming into fall?

There's a couple of key reasons:

1. There's more listings coming to market

We're seeing more listings coming to market every single month. The market is building with listings right now, which means buyers can finally find what they're looking for. So if you've got buyers on the sidelines, encourage them to come back in, because now there's more and more listings piling in. And there's listings coming back on the market as well.

2. Interest rates have stayed low

But the biggest reason why buyers are coming back to the market?

3. Prices are moderating

People are finally bringing their prices down to meet the market. And...

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The HGTV Secret That Unlocks Up To 23% More For Homes You Sell

         

This is an amazing number:

63% of home buyers that are out shopping today believe that the homes that they're looking at should look like the homes that they see on TV on HGTV and other shows like that.

That is interesting because that's something we've got to educate our sellers about. Because if that's the buyer's expectation, if we don't meet that expectation, we may not get top dollar.

So when we're sitting with sellers, how do we have those conversations? There's another study that might help with that conversation that will actually incentivize them to want to do this.

The new study shows that of 13,000 homes in the country that were studied in 2020 -- a very recent study -- 85% of those got between 6% and 23% more for their home because they were staged compared to the competitors in the neighborhood.

Those are powerful numbers to motivate your sellers. And then we have to define what staging actually means anyway.

So...

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Home Equity is Up 29.3% — Here’s What That Means

       

I have some good news for people that already own a home that are in your database.

Here's the stats:

According to the KCM blog, home equity is up 29.3% across the board — which equals $51,500 in added equity over the past 12 months.

So then the question is:

Well, what can people do with that equity?

And there are a lot of things they could do:

They could pull it out in cash with a refinance, of course. They could take that equity and use it as a way to move into their dream home by stepping up — and there's a lot of people out there that may not realize that they can step up into their dream home with very little changes in their payment because of their equity.

There are tons of conversations you can have here.

Take that data, repackage it, and push it out to your people in your sphere of influence and start having conversations with them.

You could say, "Hey, would you like to get a specific number for how much equity build...

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