 What's up guys? So the real estate market, did it just take a rebound? I believe it did. I think that we're leveling off here. I think we're finding this new normal. Now I've always talked about once something shocks the market and sends shock waves through the industry, right? Any possible prospects that we're looking to possibly buy, even sell, once that shock happens, once that event happens, they kind of put the brakes on. And everybody kind of takes a step back for a second to see, OK, what's going to happen here? And there's normally a three month period there of a transition, a bridge, if you will, from that old market, the market that we were in, and to the new market, the new market that we're going to be in, the new normal, right? And that's where we're almost to, because the event that happened was interest rates. Of course, when it went up 1%, when it went up 2%, now it's even up higher than that. That was the shock that went through the industry. And it almost happened overnight, even though it was very telegraphed. And a lot of people saw it coming. But the fact is this, we're almost to the end of this three month period, right? And we're starting to see this new normal, where everybody realizes, hey, interest rates are higher. Prices are where they are. And inventory is where it is. But I want to share with you the data that I feel like is really indicating to us that we're seeing this leveling out. We're seeing this beginning stages of the new normal. Before I do that, I want to answer the question of the day from Instagram. And this agent asked me, how did you become better at sales as a realtor? Did you practice your scripts over and over until you mastered it? And I replied with, I never practiced my scripts. And that's true. I always practiced on my prospects. That was my practice. That was my role play, was to call people real prospects and work on my scripts that way. I looked at everything as if it were a practice run. I said, and I eventually realized that I'm not even in sales. I realized that I'm in the service industry and here to help people do whatever it is they're trying to do. And that's something I really harp on a lot with you guys is that we're not in sales here. We're actually in the service industry, whereas I'm just trying to listen to my clients about what they want to do, the timeline they want to do it in, the reasons they want to do it. I'm asking all these questions because I'm trying to collect that information so that I can figure out how I can best serve them. How can I put together a customized game plan around their situation that makes them happy because I'm helping them do what they want to do? In the beginning of my career, it was nothing like that. I was only trying to close the deal, close the deal, close the deal. And you guys know what the results were there. I eventually lost everything, went bankrupt, got out of real estate, was working on an oil rig. It took me going through all that to realize that the one mistake I made was just not trying to help people do what they were trying to do. I was always trying to help them do what I wanted them to do. And that's a good way to lose clients. Now I share all of this with you, my entire game plan, scripts, tutorials, the whole nine yards right there in the free 60 day challenge at zero to diamond.com. We start a new round as a group every quarter, which is gonna start this quarter in July. I'm gonna do a Zoom call this quarter. Once a week with the entire group, I'm gonna help you through that 60 day journey of going through this 60 days. And I'm really excited to do that for you. This is all completely free. So if you're not registered, just go to zero to diamond.com, register and get ready for the ride. I'm also gonna be in San Antonio, July 15th. We're gonna have a zero to diamond tour. Again, completely free. Tickets are at zero to diamond.com or I'll put a link in the description here. Go there, register, come to San Antonio. I would love to see you already have hundreds of agents already registered for that event. Now I wanna tell you what I'm seeing here in the market and what I think's happening. So in May, NAR came out and said 1.6% more pending deals than the month prior. So it was up 1.6%. Now why is that interesting? Well, because that stopped a six month slide. Each month it was down, down, down, down and finally in May we see a slide increase. So that's very interesting. We're still down 12% on the year. But let me just explain what I'm seeing here. We're on the final stages of that three month bridge into our new normal. So as we get through this bridge where everybody's trying to realize the new reality, we're gonna see some of these buyers come back that can't afford, right? They can't afford with the higher interest rates but they wanted to see what was gonna happen. So we have this group of people that wanted to buy because interest rates come up but they wanna buy before it goes even higher but nobody knows if it's gonna go. This is just FOMO, if you will. Also we saw a large uptick in inventory, right? The large uptick in inventory in a lot of local markets, right? If you look at your local market, chances are you saw an increase in inventory. Now a lot of that inventory was overpriced because we have a lot of delusional sellers that are still in the mindset of the old reality, of the old market that's no longer here but as far as viable listings that are price right, we do have an uptick and I think the uptick in pending deals was kind of a combination of more inventory and we're seeing people kind of get used to the fact that interest rates are gonna be higher and this is a new normal. Still incredibly low. Historically everybody knows that but the real problem that we have right now is 2.6 months of inventory across the nation. This is an incredibly strong sellers market and listings are easier to get right now. This is the greatest time to be a real estate agent. Yes, transactions are gonna be lower and that's from a combination of lack of inventory even though we have higher we still have really low inventory way less than what we need compared to the demand, right? And we have so much more demand coming around the corner, right? It's coming at us from every which angle. So the supply and demand issue is gonna continue to be an issue and I think that is the biggest reason why we're gonna have less transactions just cause we don't have enough inventory to take care of it, right? It's the same situation where we ran last year, right? But what we're gonna see is this new normal where it takes a month or two to sell a property, right? Selling a property in an hour with 15 offers for 50,000 more than asking price is not normal, ladies and gentlemen. I hate to break it to you. The normal is a couple of months. The seller has to negotiate a little bit. I think that's what kind of market we're moving into, right? Where prices are still gonna increase, right? Prices are still gonna increase. They're just not gonna increase as fast. I did a video a couple of days ago or last week about the fact that we're up 14.8% price wise year to date and we're up 3% month over month. Prices are still going up, ladies and gentlemen, just not as fast. We're an incredibly price sensitive market. If I can get anything through to you today, it's the fact that we're in such a strongly price sensitive market where you have to price it right on the money. You gotta price it right on the money. The difference in five or 10 or $15,000 difference on the asking price can be like night and day of you getting no showings and you selling the property within a week or two or even a month. So guys, we are heading into this new normal, right? Where the bridge from the old market to the new market is almost to the end of its rope. And I gotta tell ya, and you better be excited as well. I'm super excited about the future of this market. Will we have less transactions? I believe so. Is it gonna be an incredible time to get out there and hustle and build your brand and acquire more market share and really hit this recession with everything you've got? Absolutely. And you're gonna thank yourself a year from now, two years from now, five years from now and even 10 years from now that you hit the next six to eight to 12 to 18 months as hard as you could. And I'm gonna be doing the same thing right there next to ya. We'll see you guys on the next video. Much love.