 Okay, guys. What is up? How are you doing? So with interest rate shooting up, we've got buyer sediment very low right now And we've got market watch calling for 25% less transactions by the end of the summer We do have a lot to talk about here I want to give you my thoughts and I want to tell you where I think the whole is in the market where we can go and get More listings. I know inventory is low and it's really tough to go out there and get listings right now But I feel like there's a massive opportunity and we're seeing it over the last week here At my office with my team. We're having a lot more sellers Tell us that they're thinking about doing something very soon And it's because of what is happening in the market right now So I want to break all this stuff down for you and give you this You know opportunity that I feel like everyone should jump on 100% first. I want to apologize I haven't done a video here in about a week or so. I took my family to Puerto Rico We had an incredible time really unplugged It was the first vacation where it was zero work for me in a long time And I got a little kite surfing in and we just had a really incredible time really checked it out down there Outside of that I am doing cold call wars if you guys haven't seen it It's where we go head-to-head I have two agents go head-to-head and a cold call competition and we've done two of these so far And what I'm gonna do is I'm gonna take the the first eight winners eight different sessions I'm gonna take the eight winners and we're gonna do a bracket style competition sudden death rounds It's gonna be incredible. So we already have two winners and So we need six more So if you would like opportunity to compete in cold call wars right here live on this YouTube channel Then I'm gonna put a link in the description. You can go fill out that form and Hopefully get an opportunity to show us what you got But as far as the market is concerned there's a lot of things going on and The biggest thing right now is interest rates, of course mortgage rates went from they were in the mid threes about five weeks ago Now they're at five percent. That's a big jump now still historically Extremely low. We know back in 1980 1981 interest rates were 18 percent Coincidentally back then was the last time we had inflation like this which just hit 8.5 percent So we're in a very strange place There was a there was a prediction by one of the banks that said that we were gonna settle out at 4.5 mortgage rate and that was gonna be like that through 2024 that's not gonna do anything to this market. That's not gonna cure inflation. That's not gonna Put us in a position where we can balance the real estate market out. I Don't believe that prediction at all. I think there's gonna be something much more dramatic that happens But what I find interesting is that you know with the interest rates coming up We've had low interest rates for so long even lower than what they are now And we've got sellers who couldn't find a place to buy they didn't want to sell because they couldn't find a place to buy Well, that's gonna get worse because now not only are they not gonna be able to find a place to buy They're also locked into a lower interest rate So they don't want to go out there and pay, you know, these high prices weren't record high prices They don't want to go out there and pay these record prices and a higher interest rate than where they are right now we also have the largest generation coming into the prime buying season of home buying years of their life and That's gonna cause more problem with supply and demand So I don't see inventory changing very much But we are seeing sellers that we're reaching out to we're cold calling where we're following up with You know, we're doing our thing and we've had an uptick in the number of sellers that we talked to who have told us Yeah, we're thinking about doing something. We know why because they're they're seeing what's going on, too they see interest rates Raising and there's a lot of uncertainty moving forward for the rest of the year mean it trust me when I did the video about You know Get ready prepare for the upcoming housing crash. There was about half the comments So there's no way you're crazy that the markets are gonna crash us by the way I wasn't saying it's gonna crash All I was saying was that when it crashes regardless of when that is I want you to be prepared for it I don't want you to sit back and you know, do what most agents do kind of just pretend like it's not gonna happen And then when it happens get caught with your pants down No, I want us to be completely prepared and ready to take it on and not only survive but thrive through those moments because that's when I really shot up in my career in 2008 I got back in the business and and you know I took that moment and that's what got me to the hundred deals a year taking advantage of that time and Listen, we may not see that time all the fundamental Indicators in the market say, you know, we have a very healthy markets about half the people in the comments of that video They said yeah, I think it's gonna crash, too. Now. What are they basing that on not fundamentals necessarily? I mean you can figure inflation into the mix you can figure several other things But I really think we're in this place where nobody knows what's gonna happen, you know, and I'm ready for whatever I'm excited about this market. I'm thrilled that we're all here together trying to navigate this market I still stand behind we're gonna lose so many agents the question is and I did that video I'll link that video that we're gonna lose more agents than we ever have before in 2022 Also the prepare for the housing crash market. I'll link those two videos below But the only question is is will we get new aid? And you know as many new agents as we lose in the industry, you know Is that churn gonna hold firm or we're gonna be in a net negative and that positive by the end of the year I Think we're definitely gonna lose a lot of them just due to the fact that I do feel like we're gonna have less transactions I think that that is a very safe bet that we're gonna have less transactions. I don't know about 25% less I know I believe it is realtor.com and some of these others the National Association realtors I think they're calling for more like a you know a four to six percent decrease in transactions this year, but These predictions are just predictions, you know, there were predictions that you know Real estate prices were gonna go down in 2020 in May Zillow and maybe core logic It was said that real estate prices were gonna go down Or maybe core logic had it coming up just a tad Zillow had it at a negative two and we all know what happened in 2020 guys These predictions are just predictions and it really doesn't matter at the end of the day for our business We just kind of go out there work or build our database build relationships help people do what they're trying to do They're always gonna be trying to do something for some kind of reason. We got to figure out what that is So don't let this interest rate spike scare you don't let all these predictions scare you Nobody knows what's gonna happen. We got to stand firm on what we believe and that is Closings are gonna happen every day for the rest of your life regardless of what the market does Transactions will fluctuate there'll be less some years than others But we got to get out there and do what we got to do to build our database and build that business up the quicker we can build our database and build that business up the quicker we're gonna get to consistent transactions and You know hitting our goals so Where I think the hole is in the market the the huge opportunity right now honestly is absentee owners second-home owners vacation property owners investors Those are the kind of property owners who aren't living in the property so they don't have to worry about where they're gonna move to They're not living in these properties. I think this is the biggest opportunity right now because those type of property owners can take The money off the table right we're at all-time highs They can take that profit off the table and then either reinvested they can sit tight They can do whatever you want to do, but I think these type of owners are more apt. There's so many agents out there that are You know going after primary homeowners and they're telling me hey, I got a lot of people that would sell but there's nowhere to buy Okay quit beating that dead horse move over and go 100% and absentee owners vacation property owners investors Second-home owners stuff like that another thing that a lot of agents are coming to me saying is that they have all these buyers And they've wrote multiple offers and they lose every one and they don't know what to do, but they're not doing anything Okay, they're not doing anything to go after sellers to help connect that buyer to a seller And you know our job as a real estate agent is to connect the buyers and sellers And so if you're just sitting on a buyer wedding on things to come on the market to compete with all the other buyers You've only done half your job You've only found 50% of the transaction and you're just basically laying down and saying I'm just gonna wait for something to come On the market you better go all in on trying to connect with these sellers who own the type of properties that your buyer wants You should be doing everything door knocking phone calls letters Emails postcards everything you can think of you need to go all in you should have different projects where you're going after Particular subdivisions and complexes for specific buyers that you have you should be going after all the absentee owners and second-home owners You should be crushing social media. You should be spending an hour or two a day just commenting and liking and creating DMing and just responding and engaging. That's the biggest thing with social media. It's not really the posting and the content It's it's the engaging that you're doing on other people's profiles. Honestly I think that that is the biggest thing and the most overlooked strategy in in You know in the game I've been going harder there and I'm gonna go even harder because I see it paying off So yeah, if you guys are interested in going after absentee owners and stuff like that go to red X red X You can get all the absentee owners They also have for rent by owners which are investors trying to rent their properties get for rent by owners Those are people who own probably multiple rental properties commercial properties so on and so forth These are the kind of clients you want to start, you know stacking up as this market continues to navigate through Whatever direction it's gonna go in it's gonna be very interesting and again I'm super excited about this. I mean if you guys want to use red X use my link below You get a hundred fifty dollar discount get geo leads plus get Expired go back ten years worth of expires get storm dialer and get for rent by owners Go ahead and throw them all in there and I get busy. It's the cheapest lead generation source you're ever gonna find and You sit there look at all the people that we do Cold-call words with look at all the people that we do cold life cold-call sessions with these people are getting pickups They're picking up clients and they're doing deals. We have guys that I have two new agents That work with me who close 10 million in their first year I got 20 months in this guy started with me 20 months in he's closed a hundred deals strictly just using red X That's all he does doesn't do social media. It doesn't do anything. He does he does red X. He does the weekly email It's nothing crazy. I'm gonna put a link to my weekly email below that I sent out today You guys use my template guys just use all this stuff. This is free information guys And anything else I could do to help you I'm still answering all my messages on Instagram That's the best place to reach out to me if you need anything and the 60-day challenge People love it. It's going really well and you know, we're getting nothing but incredible reviews. So Don't let this market scare you. That's the whole point of this video You know, there is there's a lot of different data out there and you know I've read through a lot of it and from what I can tell nobody really knows what's gonna happen There's a lot of really smart people that think that we're going for, you know, a big recession, you know coming soon And there's a lot of people who think there's no way that you know, this real estate market can get knocked off. So Listen at the end of the day guys again you keep doing what you're supposed to do and Everything will work out. This is one of the toughest times I would think to be a real estate agent, which is why I think a lot of agents are Not gonna make it, you know through the year Especially when renewals come up they have to pay and go do CEs and different things like that on top of how tough it is as Transactions come down, but I want you guys to keep pushing. I want you guys to keep fighting I want you guys to keep chasing your dreams. All right. We'll see you guys on the next video