Hey folks, let's talk about the big picture in real estate—how long are you planning to stay in the game? Is it a year, two, five, ten, or even twenty? Are you testing the waters with just a toe in or is this a full-blown career for you?
Many agents tend to have a myopic view, making crucial career decisions based solely on today's market conditions. Yes, sales volume is currently at a 20-year low, but assessing your entire career based on a single down year is shortsighted.
If you envision being in the business for the next 10 or 20 years, one year of reduced sales shouldn't define your career. Recessions in real estate occur every 10 to 12 years, and what follows is typically a decade-long period of rising prices and increased sales volume. It's a market reset, not the end of the road.
For those considering exiting the industry for a "real job," think about the earnings over the next decade in that new job. If you're fortunate, maybe a...
I want you to think about how many homes you sold last year that were your listings. So let's assume you sold 10 listings or five listings. What if I told you that you could take that 10 in times by five and have 50 transactions as a result of those 10 listings? Or if you took five listings, you times out by five and you could have 25 transactions. Does it sound impossible? It's not impossible. It's totally doable. You just gotta rethink how you're approaching your listings.
What smart, wise, savvy agents do, superstars do is they say, "Hey, I've got one listing and I can turn this into five transactional sides. Now how can we do that?"
I'm gonna walk you through it right now.
What are the five transactional sides that we create?
Okay guys, we all know that there's not enough listings to sell in our markets across the country, but there's still pretty strong buyer demand despite the interest rates. Every agent that I talk to has buyers, but their biggest struggle is finding buyers' homes. So what we need to look at is a deeper level, we'll call it, underneath where the market is seemingly at. We see that there's just, on the surface, it doesn't look like there's a lot of listings, but underneath that, just boiling underneath is what we can call shadow inventory.
I'm gonna give you a classic example:
I sold my house about a year ago, but for about six months leading up to that sale, I would have sold my house. And what I mean by that is we put the home on the market, you know, and we then sold the house. But I would have sold before that. If an agent had approached me and said, "I've got a buyer and I can sell your house today," I would have absolutely signed...