 In October, 37% of real estate agents could not pay their rent. That's up from 27% just in September. Also in Dallas, the number of active agents who actually sold a property that month fell by 200 down to 756 agents. We're seeing story after story headline after headline and we're actually feeling this in our own brokerages, in our own businesses. I talked to real estate brokerages all over the country and we're all seeing a massive drop off in the number of agents. Now, a lot of people are saying, hey, those are non-producing agents and that's true, there's a lot of non-producers that got in during the pandemic who haven't sold anything, now you've got dues and everything else coming up and they're dropping off. But we're also seeing some actually pretty decent producers drop off as well. These are the type of agents who kinda got caught in those beginning stages of their career where they hadn't necessarily gotten all their systems in place and figured everything out. And because they got caught in that weird place, they had to go do something to pay the bills. This is exactly what happened to me back in 2005. I sold my last property in January and I didn't sell anything for almost three and a half years. It wasn't that I was a non-producer who had to get out of the business, I was selling $5, $10 million a year worth of real estate. The fact was is that the market shifted, I didn't know how to shift with the market. I didn't understand all the stuff that I teach you and so I had to go out there and find a job to continue paying my bills and try to figure things out. Luckily enough, that was the greatest moment in my life where I actually realized how you actually build a real estate business and create a business that doesn't waver to any market. Now, back on March 19th of this year, I posted a video that was called We're Gonna Lose More Agents in 2022 than we've ever lost in history. Hello everybody, today I wanna talk about the cold hard facts behind why I believe we're gonna lose more real estate agents this year than any year in the history of the industry and what you need to be thinking about is we inch closer and closer to this massive market shift. Now, this is when interest rates were at 3.9% and everything was still going pretty well but it wasn't hard to see what was about to happen. Now, was I right on that video? Actually, technically no because what I said was I thought we would lose all these agents in 2022 which we have lost some agents but we're still gaining a net positive number month over month according to NAR. And right now we just hit 1.6 million members of the National Association of Realtors which is an all-time high but I hear that NAR at a conference said that they expect to lose 600,000 agents in 2023 and that makes total sense because as dues come up, your annual dues in January I think that is where you're gonna see this massive, massive drop off. And if you go back to the great recession of the late 2000s, the all-time high for agent count at that time was 1.3 million that was in 2007 and then as the market crashed and burned we went down to a million agents. So we lost 300,000 agents during that time. Based on everything I read, based on my past experiences, based on what I think is gonna happen and based on what I heard NAR said at the conference I think we're gonna go right back down to a million agents in 2023. And so I'm gonna go and retitle that video as we're gonna lose more real estate agents in 2023 than ever before in history because that's actually what's gonna happen. Now here's some charts that I made of the agent count in the US from 2000 to 2022. You can see there from 2007 to 2012 it took a dip and now it came up to reach its all-time high. This next slide is transaction count in the US. You can see in 2005 we hit that peak and then by 2008 we hit that low of four million transactions and then we get to where we are today and now we're taking this slide down again. And in 2023 as I stated in my last video, Fannie Mae has a projected 3.9 million transactions which will be lower than 2008. If you put those two graphs together here's what it looks like and you can see they're pretty similar. Here's what I think we're looking at in 2023. We're gonna go right back down to a million agents as transactions go lower than 2008. But what I want you to realize is that this is the greatest opportunity that you've ever had. This was a much needed reset. You have to have this kind of reset if you want your business to explode. Sure having the years that we've had you have nice little growth but if you ever want that exponential just explosion in your business like an atomic bomb you have to have a reset like this so you can set your foundation properly become normally adjusted to what the market's gonna be next year which is gonna be a very down year but the foundation that you're gonna set is gonna be enormous as the market rebounds you're gonna see your business year over year explode. Here's a visual of my business from 2008 to 2014. You can see in 2008 my business was nothing this was the year I got back in the market and prices continue to go down all the way to 2012. I maintain my market share and maybe grew a little bit but then as the market rebounded that ladies and gentlemen is how I got to 100 deals a year. What I did in 2008, nine, 10, 11 and 12 as the market was doing this and the foundation that I built is what actually got me to the 100 deals a year in 2014. So I want you to understand that as you really go all in on the market over the next six, 12, 18 months I want you to realize that the seeds that you're gonna plant are gonna create an enormous business in 2026, 2027, 2028 that's when you're gonna really see this massive explosion it's not gonna happen all at once it's gonna be gradual as the market rebounds you're gonna see your business start jumping up every year. My goal from day one with Zero to Diamond was to help agents through the next crash. I didn't know what was gonna happen but I wanted to make sure that you guys were prepared and I wanted to help you through that situation so that you don't have to go through what I went through in 2008. So here I am, I'm posting more content on Instagram I'm posting more content here on YouTube and I'm gonna keep pumping the content so that my message can reach as many people as possible. I want you to join me mid December I'm gonna do a 2023 business planning session that's gonna be virtual. All you have to do is make sure you're subscribed here follow me on all platforms and you're signed up at zero to diamond.com everything is completely 100% free. All right, I hope this video helped you understand what's happening here and what you can do to take advantage of the situation let me know your thoughts in the comments and if there's anything in the world that I can do for you we'll see you guys on the next video.