 What's up, everybody? Welcome back to my channel. So this week, we got so much data thrown at us from so many different angles. The Fed's raised rates 75 basis points. We saw that comment. If you didn't see that comment, I don't know where you've been. That was totally telegraphed. Everybody knew that was fixing to happen. Home pending sales were down 8.6% in June, according to NAR. They also reported that homes in June of 2022 are 80% more expensive than they were in June of 2019. That means that it cost you with the mortgage payment, insurance and taxes, 80% more in today's market than it did back in 2019. That means that 20% of the buyers from 2019 cannot afford to buy a house in 2022. Now, as a real estate agent, as an investor, what does that mean for you and I? Listen, I'm going to just be straight up and honest with you right this second. It doesn't mean anything. Yeah, I said it. And please put in the comments, tell me how you think I'm crazy for saying this kind of stuff. I shouldn't be spreading this kind of rhetoric and everything else, but the bottom line is this. You can't control interest rates. If interest rates do go to the moon and mortgage rates follow and prices drop considerably, how great of an opportunity is that going to be? As a real estate agent, how easy is that going to be for you to go out and sell something for? Let's just say it was $1 million at the peak, and now it's $800,000, $700,000, whatever. Whatever your doomsday scenario is, let's see it goes down to $700,000. You call a buyer and say, hey, this was going for a million a couple months ago. It's $700,000. What do you think? I'm very interested. I'm going to offer $650,000 and see what they do. Absolutely. That's going to be a super easy conversation to have. Now, will you have less buyers? Absolutely. Demand will go down. That's what's causing prices to come down. Everything got too expensive. Inflation went crazy. But at the same time, do you think last year was easy? Is that what you're telling me? You'd rather go back to last year when things were going up and you had to compete against 15 other buyers and pay $120,000 over asking price to win a property. That's the market you want to live in? No. Listen, either way it goes, it's going to be a tough road. There's not going to be an easy market. Either way it goes. I said it for so long. The agents that are complaining about no inventory last year are going to be complaining about too much inventory this year. Here's the facts and here's what you need to do. Whatever the market gives you, you take it and run with it. If you're an investor, buy on cash flow. You buy a property under replacement costs and it cash flows. Great. I'm buying a property right now. Everybody's saying I'm crazy for buying it too high of a price. It's less than a little cost for me to buy the lot and build it. And I'm getting really good cash flow on it because rents are so high. I'm going to buy that commercial building and I'm going to make a lot of money. If the market comes down, it's not going to hurt me. You know what I'm going to do? I'm going to go buy another one for way less and then another one. And then another one, I'm going to continue buying, right? If I'm a real estate agent, as I just stated, if prices go down, yeah, you're going to have to probably call through more buyers to find someone who is actually interested, right? But it's the same thing last year. How many sellers did you have to go through to find someone who might be interested in selling? If you had a buyer, you're fighting over the properties with other buyers. Again, there's not going to be an easy road here, right? Just get it through your head right now that you're going to have to get out there and grind it out for a good couple of decades to get where you want to go. Can we just all agree on that for a moment and quit complaining and feeling sorry for ourselves about interest rates going up and demand coming down and sellers that are in denial, that are overpricing their properties? Can we please stop the complaining and realize that all this is temporary and part of the plan. This is the cycle of the market. Go back to history and look through all the different market cycles and really pay attention to what happened through all those market cycles. It went down and then it came up and then it went down and then it came up. But, you know, one thing that held solid through every single circumstance, closings, closings, closings happened every single day, every single day of your life. And they'll continue to happen every day for the rest of your life no matter what the market does. I wrote the book on this. It's called List to Last, How to Survive Every Real Estate Market Crash. I wrote it after losing everything in the last crash, coming back and then crushing it. Ended up becoming the number one remakes agent in Alabama selling 100 properties a year as a single agent for eight years in a row. Absolutely not caring about what's going to happen with the market because when I lost everything and came back, I said, that's never going to happen to me again. I'm going to build my business correctly this time. I'm going to build my business on people, not transactions. I'm going to focus on the person. I want to create opportunities to get to know people. Oh, that's Mr. Nice Guy attitude. That's not going to win in business. That may be true, but the fact is this, no system is going to win every single deal. The high pressure guys are going to lose deals to me. I'm going to lose deals to them. It is what it is, but what I love about what I do is I could be me. I can go out there and show people who I am. I can really listen to what they want and I can help them accomplish their goals instead of only being laser focused on my goals, right? And only being laser focused on getting the listing, getting them to sign the contract, only being laser focused on the property and really kind of losing focus of the person behind the property. See, that's what it's all about for me is the person behind the property, right? What's going on in their life that's causing them to make this decision to want to buy or sell this house? That's what I really want to know. And that's how I connect. That's how I retain clients for life. That's how I get so many repeat clients and referrals and referrals of referrals because they know I'm going to treat them like they're my mom or they're my dad. I don't know there's the right or wrong way to do things. I'm not telling you it's the right or wrong way to do things. I'm just telling you that's the way I do things, all right? So take what you will out of the content that I give you and everything that I do to try to help you understand the philosophies of market cycles, building a solid business that will make it through any market situation and building your business on the people, not the properties, right? Then take that money and go invest in properties. That's how you get ahead. Anyway, leave your comments below. Let me know what you think and thanks for watching. See you guys on the next video. Take care.