May 22, 2023
Members Library
Monday News You Can Use!
May 22, 2023
Interesting video on where interest rates are headed?
Oh those Canadians! This is wrong.
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TECH TIP:
For those of you who like to-do lists and outline!
,Dynalist lets you nest things infinitely, so nothing is too big to fit into it. Just keep breaking it down.
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Conversation Advancer:
When is the best time to buy/sell a house?
Whether on the buying or selling end, trying to “time the market” to make or save as much money as possible is common.
When you inevitably get this question “The best time to buy or sell is always when you are ready.”
As a real estate agent, you can provide expert insights into the ebb and flow of the market, but giving a concrete answer isn’t possible. It’d be equivalent to telling a stock investor that “x” stock will rise and “z” stock will fall at a specific time.
You can reassure your client by explaining that, historically and currently, real estate remains a very sound investment. There are also tools they can use to make payments lower and capitalize on future lower interest rates should they come up. He adds, “Clients seldom, if ever, regret buying a house, but they always regret not buying a house when they should have,” he says.
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Member Monday: The Mindset of Mindset
Monday News You Can Use!
May 15, 2023
FHFA ends debt-to-income ratio mortgage fee. How homebuyers will benefit.
Mortgage demand surged after Fed Signaled a potential pause in rate hikes.
How to use an IRA to buy a home
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App of the week:
Gboard
,Gboard, also known as Google Keyboard, is Google’s keyboard for smartphones and tablets. Free to use, it doesn’t require a Google account, and you can have instant access to Google services such as search, translate, YouTube, Maps, and more. This means you don’t have to copy and paste details from another app.
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Conversation Advancer:
Since Interest went up sellers need to lower their price
I can understand your thinking. The additional costs associated with a mortgage payment now, however, sellers are pricing their homes in accordance with recent active, under-contract, and sold comps in a neighborhood. Prices have softened a bit compared to last year, and are not dramatically increasing as rapidly as they were. Sellers understand that their home may not go under contract within hours of it coming on the market, and most are prepared to negotiate within reason. An important focus of a negotiation is not just the purchase price, but also what your monthly payment will be. There are ways to move through a negotiation with a seller where they don’t have to significantly reduce their price but can give you concessions towards an interest rate buydown and/or your closing costs and prepaid. This can help lower your monthly mortgage payment and save out-of-pocket costs, which can make the home more affordable.
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| Your Coaching Matters Supports Agents and Brokers to Elevate the Professionalism of Real Estate. If you are not a member, will you join us at https://www.facebook.com/ |
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Member Monday: What Causes Salespeople to be Successful?
May 8, 2023
Monday News You Can Use!
May 8, 2023
Firms losing money: Open Door lost $101 Million or $29,000 per home sold in the first quester of 2023. Redfin lost $60.8 million. Rocket Mortgage Lost $411 million. Congrats to those of us to staying in business 🙂
Interest rates dropped 4 to 6 weeks ago – Prices rise for first time in 8 months – But its regional San Fran was down 10% Miami up 10.8%
Interest rates go up – pending homes sales fall 5.2%
People are moving to the South, Texas in big numbers
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TECH IDEA
Coming Soon!
https://www.eSentry.net/
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Conversation Advancer:
I will get preapproved after I see what’s available. I know what I can afford.
I wish it worked like that. With the low inventory sellers and their listing agents demand that the buyers seeing their properties on appointment/agent-brought showings are vetted and verified by the agent bringing them. So its to your benefit to be preapproved by a mortgage lender, discuss various loan options and programs, and crunch numbers to ascertain what price range and payments are most comfortable.
There can also be financial “gotchas” looming that only are revealed when a buyer is trying to get approved for financing or the buyer does something like making a major purchase while under contract, which can jeopardize their ability to qualify. There may be a credit card balance that has to be paid down or paid off, and the buyer is surprised to find that out.
Getting the right home under contract takes some financial planning along with the use of a mortgage professional, so it is helping you not to get frustrated and waste time by getting preapproved.
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Member Monday: PROFIT the name of the game!
May 1, 2023
Monday News You Can Use!
May 1, 2023
Good article on the change in what buyers are charged for Fannie and Freddie Loans
Higher Rates causing sales to dip – 5.2% drop. But south Up! NAR predicting 9% less sales in 2023 versus 2022
But Prices up due to … low inventory
Good article for your nervous buyers
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TECH TIP
Truly Cutting Edge Tech
ListAssist
Can write ad and MLS copy for you – very intriguing
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Conversation Advancer:
I want a good deal
Awesome – I hear you. What do you consider a deal in today’s market?
Tell me more… Is that realistic?
While you are waiting for the perceived “deal of the century,” you could be missing out on what you really want.
And guess what? If it’s a “deal,” you aren’t going to be the only one vying for the property. There is a good chance there will be multiple offers and it may go over asking price.
For what you want, if properties are selling at [X] percent of asking price, have an average days on market of [X] and have less than [X] months supply, what do you think your chances really are of finding something below the statistics for kind of property you want in the area(s) that you want?
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| Your Coaching Matters Supports Agents and Brokers to Elevate the Professionalism of Real Estate. If you are not a member, will you join us at |
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Member Monday: Happiness Part 2
Monday News You Can Use!
April 24, 2023
6% is the new Normal for mortgage rates.
Large investors selling 1 out of 3 listings they bought for less than they paid for them in some markets
The most expensive neighborhood in each state – WOW!
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TECH TIP
Is anyone using this service “https://www.signmore.com/“?
Virtual receptionist and lead qualifier.
Looks like $4400 a month or so.
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Conversation Advancer:
I would sell but where would I go?
I only want to sell if I can find something to buy before.
I hear you – it’s always good to have a plan, and my job as your agent is to help you come up with the one that’s best for you. I live by the adage, “Information is priceless; knowledge is power,” so let’s plug into what you need to know in order to make this decision. Given the climate of low inventory, you have a very good chance of being able to command a strong sales price for your home. Let’s walk through potential options to buy as well as rent if needed from short-term rentals to longer-term options.
There are some terms we may be able to negotiate with a buyer, such as making an offer contingent upon your finding a replacement property or putting a leaseback option in place for an agreed-upon period of time to make the transition a bit easier.
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| Your Coaching Matters Supports Agents and Brokers to Elevate the Professionalism of Real Estate. If you are not a member, will you join us at |
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