The Double Comma Club

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DMAR Nov 2021 - The Market Is Slowing. So Why Are You Exhausted?

The market is slowing. So why are you agents so exhausted?

Comparatives are funny because they can tell any story you want. The market is slowing down? The market is still nuts! The idea real estate is hyper-local is at its epitome in times like these. Nicole dives into the Denver Metro local numbers and a bit about the economy but let's start with a story because perspective is everything.

"One of our clients this past weekend put in an offer and the listing agent and friend, Maura Putnik, called me and shared the seller side experience.

Her $890,000 listing had 80 showings,
18 potential offers
Six of those retreated when they heard where the price was headed,
12 written offers of which a few improved their offer, to have that one get the deal.
In addition, four agents offered to submit a backup."

If that’s slowing down, now I know why we are all exhausted.

DMAR’s November Market Trends Report shows buyers deciding to fight the good fight regardless of rates going up. Active listings dropped back to 3,376, partially due to 13.28% fewer sellers (new listings) and 7.42% more buyers (under contract) than last month. Buyers today have 782 more homes to choose from compared to the hot Spring market, can take an extra day to view the home, and will pay almost 3% less over asking than they did in the Spring. However, compared to last Fall, this market is on fire! We have nearly 1,500 fewer homes to choose from, yet we put the same number under contract for 1.5% more in almost half the time.

So, Let’s Talk Rates. Are They Going Up? Or Down?

The Federal Open Market Committee’s November meeting is happening as we go to print with this month’s Market Trends report. They are expected to announce the much-awaited tapering of $120 billion per month in agency mortgage-backed securities and Treasuries purchases. Powell will undoubtedly emphasize flexibility in his public remarks after the November meeting as the committee is likely to split on what actions to take. However, Fannie Mae, NAHB, NAR, and the MBA are sticking to their forecasts estimating 30-year mortgage rates hit 3.5 to 4% in 2022.

Home prices continue to increase, yet so do rents and the alternatives facing our first-time homebuyers today. And with the potential of rising rates, NOW is the time to jump in.

The First 90 Minutes of Your Four Hour Workday - Mind, Body, Heart and 30 for the Spirit

4 hour work day with Dr. Bruce Lund Your Sales Coach

Have you ever heard of the concept, "Eat the frog"? Eat the frog is basically, do the one thing that you really don't want to do first thing in the morning. So for a lot of us that is working out, and so I'm just a big believer. Here is a time system that works for success. Nicole's guest is Dr. Bruce Lund. He's here to get us started on the successful method of a four-hour work day by starting from the moment your feet hit the floor - the first 90 minutes, then going into the next 30 minutes.

Some of the point covered are:

Physical activity of some type, then move into the walk and talks later in the day after a light lunch.

Stimulating the mind by feeding it helpful information from people and resources you admire and trust, market stats you can share that will show you are of value to your followers and clients, inspirational tips, mediations.

Rely on people of influence rather than people of interest to inspire you. Get the ego out of it.

Practicing gratitude for at least 10 minutes a day. This can be making a list, or making a call.

Who is on your call list? Who is in your database? Take care of your time, your hear, body, mind and spirit by thinning out that list and putting them in the correct buckets.  You attracting high-maintenance people that commoditize you? They will ZAP you.

Listen to get the rest of the actionable items to take care of you, and then that will help you increase your success in all corners of your life.

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Exploring 80113, 801212, 80103, 80119, 80222 Neighborhoods

Jenny Usaj Explores 80113, 80121, 80103, 80019, 80220

Nicole's guest is Jenny Usaj of Usaj Realty. She explores several zip codes in neighbhoods that have seen a wonderful uptick in prices, as well as ongoing opportunity for investment. Jenny also gives agents advice about how to help their clients drill their buyers down to real needs, rather than distractions when they research online. She wraps up with talking about condos, and future income property and her favorite neighborhoods.

Finding Your Niche Will Serve You and Your Clients Well

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"Our industry really has a need for professionals that use their platforms to take a stand for things and to help be change-makers in our community. I think the general public oftentimes looks at real estate, certainly in a city like Denver, a growing city where the prices have gone high, and there's people that can't afford to live in certain neighborhoods anymore and all of that." Nicole's guest is Ryan Belinak from Live Urban Real Estate. 

His two big takeaway points for agents are these, Be kind to yourself, especially those who are new in the industry. Also, don't be afraid to adapt and put yourself out there. We have all learned new skills this past year and have had to listen to our own voices on playbacks more often than we thought possible.

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Be a leader for your clients.

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Thank you for joining us for another agent talk This week I have Drew Morris, who I've got to know through DMARs Market Trends Committee. He jumped on just a little bit before I did about 2.5 years ago, and he's been a real estate agent for 7.5 years and I bring up the half because he claims it just like I claim my half an inch.

 

Drew Morris is with Your Castle Real Estate. I wanted to bring him on board because he has some of the same views I have and looking at real estate as a wealth-building opportunity and right now, having been through the most turbulent year I can personally remember and not being quite done yet. So how do we continue on our path to 2021 into 2022, 2023? How do we engage with our clients on a very personal level to continue to support their success in real estate?

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Financial Independence for Early Retirement through House Hacking

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Nicole's guest today is Zeona McEntyre. In this episode, they talk about house hacking to financial freedom. House hacking is the way that Zeona thought to be financially independent. And her role now is really just to help empower people, inspire people and get them excited about what's possible. People they think, "Oh yeah, financial independence or early retirement, that's for other people, that can't happen for me. Or if I'm going to do that, it's going to take me 15 years." But she did it in two years with house hacking. She also believes it's really doable in five and traditional people that are doing just financial independence with index funds, they do it in about 10. So it's almost about just knowing it's possible and then allowing yourself to have that.

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Making Your Professional Memberships Work for You

Making Your Professional Membership Work for You - Mike Papantonakis

This week we spent time with Mike Papantonakis, newly inaugurated DMAR Market Chair and agent with Re/Max Alliance. He is one of the new leaders of DMAR but leadership isn't new to Mike. Together we explore how his experience gives him the strength he needs to lead DMAR's Board as well as champion his clients.

He reminds us that when we question the value of professional memberships, we have to remember to also ask, "What did I put into that membership? How did I participate? You only get out what you put in.

"We can not continue to do business the way we do business today. We're always going to have to be looking for a better way and a new way to do things."

- Mike Papantonakis

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Use Your Extra Time to Learn All You Can and Add Value

Jill Schafer on The Double Comma Club

Jill Schafer is Nicole's guest in this episode talking about smoothing the path to homeownership to get to the celebration. That's done through continuous education on behalf of our clients.

Jill says, "understanding the market and educating our clients that's not something they could just pick up online I mean, they can read the article, but they are going to get that microneighborhood information that we can provide and getting information on just their price point or their area, or are they looking at attached and detached and that's something that report really provides and you know we can provide it to our clients, but we need to still explain how that relates to them. And so it's focusing on how I can try to make that process smoother for them in every possible and make it a celebration."

Tune in for some sage advice from this seasoned Real Estate professional.

Daily Disciplines and Increasing Your Value

Dina Piterniece on the Double Comma Club

Some of what Dina Piterniece has done to keep communicating with her clients and prospects includes:

  1. Picking up the PHONE and TALKING to them about something other than real estate.
  2. "Thinking about you" cards to clients.
  3. Sending out a regular newsletter with positive ideas.
  4. Keeping them updated as the rates kept changing in case they were able to take advantage of the situation.
  5. Increasing your services, resources to pass along to them. 

Her advice to fine-tune 2020 is to stick with the items that work for you best. Everyone has their specialties. Look for ways to increase your value and knowledge. 

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Celebrating the Resiliency of Agents

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Nicole's guest, Amanda Snitker, stated it perfectly in this episode, "We were uniquely prepared for the current market and situation, as agents." The only thing she would change is to not be so tired from everything since April. That means she's busy. That's something to celebrate. She's fine being tired, she didn't want to miss a moment, or opportunity to help her clients. 

She comes from two great examples in the industry, her own parents. She learned core values from them, saw their example of how to treat clients. What a gift they gave her. 

Her takeaway for all of you agents is not a new concept or adage, but fitting for these times. Take it one day at a time. 

 

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