A number that we should be concerned with right now in the market is 16.1%.

So what does 16.1% represent?

It represents the number of transactions that were canceled last month. The last time we saw a number that high was at the beginning of COVID when buyers really didn't know what was gonna happen. March, April, when COVID really went into full effect in our country in 2020. That's when you saw this same level of cancellations. And that's what we're seeing again right now.

So how do we tighten down offers so that sellers have some clarity that they know they're gonna get to closing?

I'm gonna give you several things to think about. You might have a few more. But one of the things is getting the disclosure statement signed as quickly as you can.

Most states require a disclosure statement. This is where we're the seller's gonna disclose everything they know about the house to a buyer. But not waiting around, not delaying getting that...

Part of what we should be doing with our clients, especially our buyer clients, is educating them about the reality of the market.

Here's one example of that:

Did you know that right now in America, 48% of buyers are offering above list price by about 2.9%? So when we look at that on the average purchase price in America, which is about $357,000, it's roughly $10,000.

So 48% of the buyers in the market are offering over full price. That number being an average of $10,000.

Now that's an interesting bit of education we can share with buyers to help them understand what they're dealing with when they're out there in the marketplace.

Then you can pair that with another important piece of data, which is:

On average, buyers are gonna compete on a listing 68% of the time.

68% of the time buyers are gonna be competing with another buyer in the marketplace. Because of that, they've gotta be super competitive when they're bringing that offer in. And...

I want to turn you on to a book that was recently recommended to me called "Atomic Habits." If you haven't listened to it, it's a fantastic book by James Clear. And it gives powerful insights on how to build habits and actually get rid of habits that are holding you back.

One of the things that he mentioned in the book, which has really resonated with me is this idea of "being in motion" versus "being in action."

Being in motion means that you are planning, strategizing, and preparing to take action, right? There's a lot of agents that are really good at being in motion — but they never actually move up to being in action.

Being in action means you're actually doing the steps necessary to hit your desired outcome.

Now, the difference here between being in motion versus being in action is that when you're in motion, you're not taking a risk. Which is why so many agents get trapped in this space.

You're not risking...

Don't miss this incredible podcast episode featuring financial expert Alisa Glutz as she outlines how the next generation of home buyers can take control of their credit with simple strategies and tactics that anyone can benefit from. The author of the best selling book "Color my Credit" Alissa is a master at providing fast paced, real time relevant information that your clients can use today. In addition she has built a following on TikTok of over 420,000 in a little over one year - how? By using the power of education marketing combined with short form videos!

Are you ready for a Real Estate Coach? Check out the Path Performance Coaching Platform!

+ 16 Weeks of Daily On-Demand Coaching

+ Hundreds of Downloads - System, Forms, Checklist, Scripts

+ Live Coaching - Multiple Times a Week

+ Goal Tracking and Activity Tracking

+ Marketing Assets Delivered Weekly

Join this fast paced conversation with superstar REALTOR Conchita Swiggart as she provides insights into how she has built her business by leveraging her sphere of influence. In addition we dive deep into how she has leveraged community involvement to not only provide connect with her friends and business owners in the her local area but also to grow her database of people that know, like, and trust her as their "go to" REALTOR.

Are you ready for a Real Estate Coach? Check out the Path Performance Coaching Platform!

+ 16 Weeks of Daily On-Demand Coaching

+ Hundreds of Downloads - System, Forms, Checklist, Scripts

+ Live Coaching - Multiple Times a Week

+ Goal Tracking and Activity Tracking

+ Marketing Assets Delivered Weekly

What can you learn from Guns n Roses about real estate?

My wife and I took a road trip recently and I took the time to download a book for us to listen to. I don't think she was too impressed in the beginning, but she learned to love it. It was a great book by Duff McKagan talking about his experience as the bassist for Guns n Roses.

We learned his crazy biography of how he got started with the band and what he went through in his life. One thing that he talked about, which really fascinated me, was when Guns n Roses was beginning as a young LA band. They would have to go out and meet with club owners and lounge owners to try to talk them into using them as a band.

In other words, they had to sell themselves. And something the lounge owners and business owners did was instead of just paying these kids to come in and play -- and if they were terrible, make their guests run out -- they would make the bands pay them to play in the lounge or...

There are 8 key systems I recommend you create this year to help you scale your business and provide consistent raving fan level service to buyers and sellers.

By the way, a system is nothing more than a checklist. In the real estate industry we often make systems sound complicated, but a system is nothing more writing down all  the things you need to do in order to do something efficiently.

8 Key Systems to Quickly Create Predictable, Repeatable Success:

1. Pre-listing Checklist

You should have a list of all the things you need to do to get ready to take a listing to be at the top of your game when you meet with that seller for the first time.

2. Listing Launch Checklist

This explains what you're going to do to launch a property into the market. Think about the 5, 10, 15 things you're going to do every time you launch a listing in the MLS.

3. Marketing Plan Checklist

This should include everything you're going to do to actually promote a...

During this podcast we are interviewing Brian Charlesworth Founder and CEO of Sisu.co an incredible platform for measuring daily performance for Agents, Teams, and Brokerages.

Listen as we discuss the latest trends in the industry, what it really means to have accountability built into your real estate career, and how successful agents are modeling fortune 500 companies by tracking highly specific daily actions.

During this episode we dive deep into these key topics:

• How to be a great leader in real estate
• Why accountability is the key to performance
• Breaking goals down to daily activities
• How to gain freedom by limiting choice

The one thing that is missing from most agent's business strategy can be summed up in one word - accountability.

There is no easy way for agents, team leaders, and brokerage owners to measure their daily activities against their goal set. This creates inconsistency in lead generation, gaps in your performance, and an empty bank account.

Even with the best coaching and training your business model can fall flat unless you take the time to carefully implement, track, and measure your performance.

Listen we have all been guilty of attending a webinar, listening to a pod cast, or reading a great book but not actually pulling the trigger on action. But action is the only true way to create the results that will transform your business.

But what if you had a solution?

A simple, elegant way to track activities and results bundled with the best coaching platform in the industry plus incredible marketing assets that will help you stand out in your marketplace.

 Watch this video to...

In many areas of the country agents are reporting a shifting market, this is natural and normal as the real estate market is always dynamic, but it does bring up an interesting question...

What are you changing in a changing real estate market? 

As a 30 year veteran of the real estate industry, with many ups and downs along the way, I have three key actions you can all take to stay at the top of your game.

Watch this video to be strategy driven and not market driven! 

Are you considering a real estate coach? Take a minute and explore our Mastery Courses for Realtors. These On-Demand Courses include video content paired with instant action downloads at an affordable price point. Click here to explore taking your career to the next level. 

About the Author

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely rise from college drop out to...