If I were to ask you, what is your business strategy right now? Would you be able to write it down in two or three sentences — your specific strategy and how you're approaching the marketplace?
If not, you may have an issue because you might be market-driven and we don't want to be market-driven.
Because a market is kind of a high tide floats all boats kind of situation. What happens when the tide's not with you? And you're kind of fighting the market.
That's where you're going into a danger zone. And none of us want to be there. As Vince Lombardi said:
"Hope is not a strategy."
We absolutely have to have a strategy to survive and thrive in this business.
And one of the biggest things that we should be doing every day is understanding that we have a job that probably most people don't identify with. And our number one job isn't sales.
Our number one job is data collection. That is adding people to our funnel so that we can...
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,...
There's a new study out that shows that 77% of homeowners believe now is a great time to sell their home.
And when you combine that with a recent study we talked about — which is that 1 in 10 homeowners is going to place their home on the market over the next 12 months. And 63% of those will do it in the next six months alone.
What are you doing about it?
We know 80% of your business is going to come from a direct result of your sphere of influence. Either direct business or referred business. So we need to dive into that first and foremost.
I'm going to give you three ways to have impact at scale with these folks.
1. A weekly email into your database.
This doesn't cost you a dime, but it's one of the most powerful things you can do to stay top-of-mind.
But that email has to be value-orientated. It can't be garbage that people are going to look at it as spam. It has to be high value.
What's the highest...
Jump into this fast moving and information packed conversation with Rockstar Real Estate Pro - Jess Lenouvel. Jess has been a Real Estate Agent for over 15 years and has personally built a multiple 7-figure business that has sold over $300 million of property in her last 5 years alone. Her on the ground experience has given her the background and expertise to help Agents overhaul their advertising and scale massively while leveraging the power of online marketing. Listen and learn as she outlines a strategy to unlock a stream of clients with simple proven strategy driven techniques.
We know that 1 in 10 homeowners are considering selling this year. In fact, 63% of those folks are going to be selling in the next six months.
There's a massive surge of listings about to hit us. This is based on the survey that was done by realtor.com recently.
So the question is, what are you going to do about that? What are you gonna do to get ahead of this tsunami that's coming at us when it comes to listings?
Because if you don't get ahead of it, your competitors are going to take advantage of it.
I'm gonna give you four things you can do right now to get ahead of this curve so you can take advantage of all these sellers that are about ready to come to market.
1. Form your own neighborhood and sphere of influence.
If you're not constantly in communication with the people that live closest to you and/or your sphere of influence, you're losing opportunities.
What does that mean? It means that you're sending an email out once a...
What if there's one thing you could do that would have a massive impact on your business? And it was something that would feel like it wasn't work? It was almost rejection-proof. And it's something that you could do every single day. Would you like to know what it is?
The answer is networking. And what I mean by networking is going to coffee, dinner, drinks, lunch, breakfast, you name it. Whatever it is where you're meeting one-on-one with someone in your sphere of influence.
There's nothing more powerful than you can do for your business in terms of marketing than that.
Now it's not going to feel like you're doing anything — you're just having fun with somebody who you like to visit with. But by stretching yourself and meeting with more people in your sphere and getting outside your comfort zone, I can promise you the result of this will be referrals.
Now it's not instant gratification. It won't instantly happen. But when you...
We know there's a wave of listings about to crash on our shores. We know it through studies that have been done recently that show 1 to 10 homeowners are considering selling this year.
63% of those are going to be selling in the next six months.
There's a massive wave of listings about ready to hit. So what are you doing to get prepared for that?
Here are four things that you could do to make sure that when you get to this apex point, all the marketing that you've done, all the social media stuff you've done, all the letters, emails, calls, texts and networking meetings don't go to waste because you blow it at the apex point — you mess up your listing appointment.
You have to be a master in that moment when it's all on the line.
This comes through training and practice — no different than an athlete on a field. If they're trying to throw that football to the end zone, they have practice that maybe a hundred times....
What are the most expensive per square foot homes in America?
According to a recent study recently done by REALTOR.com San Jose Santa Clara had the most expensive per square foot averages across the country.
Drum roll — $1,500 a square foot, not far behind are San Francisco and Oakland with $1,200 a square foot.
Now what's the least expensive in the country? Least expensive is Decatur, Illinois at $102 and Youngstown, Ohio at $120 a square foot.
There's a big discrepancy between the two.
The reason I bring this up is because we need to know what our average per square foots are in our local market. And it's going to change by subdivision. It's going to change by micro markets. But overall, you need to know what your county averages are and then your subcategories in different market segments. That way you can speak to this as an expert.
The other thing you need to be able to do is bring these into a conversation with buyers and...
Affordability is on the tip of everybody's tongues right now.
Why is affordability so important?
Well, it's a measurement of how affordable it is for the average person in America to own a home.
NAR has studied this every single month and they gave us a Home Affordability Graph. And you might expect this, but home affordability has actually been going up because of something substantial, which is interest rates going down.
As interest rates go down, affordability goes up.
That's despite the fact that we've had actually super fast rising prices, right? Prices starting to go into double digit territory across the country. And then we see interest rates going down, which pushes affordability up.
But because home prices have gotten so high recently, that's actually starting to level off and come back down. But we recently had another upswing. So we're measuring a few things when we look at affordability.
When NAR looks at...
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