 So are the feds trying to crash the real estate market? Let's dive into this. And today we got the pending home sales data from NAR. It shows that in September we're down 10% pending deals and we're down 30% year over year in pending deals right now. That is massive. That is a historic downturn in pending deals. We're also down 23% in number of transactions for the and keep in mind when we look at this data we're basically looking at what it was 30 days ago or even more. When we get data it's so old when it comes to real estate we don't get data instantly like we do in the stock market. The data of today right here in present time is going to be far different than it is in these reports we're looking at. So everyone right now you need to be going out there and taking these buyers who can't afford houses because of interest rates get them pre-approved for the maximum amount that they can get approved for and go start making lowball offers. Be very proactive right now. Don't sit on the sidelines and say I don't have any buyers who can afford the prices. Prices have instantly come down when interest rates hit 7%. It's just taking the market a little time to adjust for that interest rate hike. So what you need to do is be the agent who's out there that's on the front end of getting the deals that are going to be at the lower prices. And this is happening right under our noses. On the flip side you need to start stacking your list of people who want in on a market with lower prices. There's buyers that have been sitting in the shadows for 3, 4, 5, 6 years that you probably haven't heard their name in a long time. You're not going to recognize them because they've just been sitting back waiting for an opportunity. Every single prospect that you talk to at the end of the conversation, you need to say, well, let me ask you one more thing. Would you be interested in great deals on rental properties? And if so, put them on your list, figure out what their criteria is, like commercial, multifamily, duplex, fourplex, single family, what do they like, what price range, what would they be interested in. Then you can go target those subdivisions and those types of properties. And you can actually start working the residential market just like the commercial agents work commercial stack your list of buyers that want to buy in at lower prices, go out there and find sellers who want to sell, let the buyers make offers. If the seller doesn't take it, just list the property like normal, you are creating your own market, your own ecosystem here. And this is what everyone needs to do. Stack your list of investors who want to buy in, be proactive, looking for sellers that they can make offers on as well as taking every buyer you come across, getting them pre-approved and making low ball offers on these properties that have been sitting on the market for 82 days, two showings and zero offers. These sellers are going to have to make a choice. Right now, we're going to see sellers take their properties off the market. We're going to see sellers accept some of these low ball offers. So this is where we are in the market and it only takes one low sell to subdivision to drastically reduce the value, the appraised value of all the other homes in that subdivision. So this is what we're going to start seeing and you need to stay busy, busy stirring the pot, busy shaking the bushes, busy talking to people, collaborating, seeing what we can do to help people. Right now, during this time, so many people are kind of caught in the uncertainty of what's happening, they need you. It's a great time to build relationships, build rapport, build trust, build your database and really take over the market. Right now, you could be taking over the market right under everyone's noses without anyone ever even seeing what you're doing and guess what? In six months, eight months, 18 months, 36 months, you're going to emerge as this massive mega agent and everybody's going to wonder, how do you do it? How did she do it? Well, it's because you started today when everything went the opposite direction. You went against the grain and you said, you know what? I'm going to dig in. I'm going to call people. I'm going to talk to people. I'm going to make videos. I'm going to build my business. That's the name of the game, guys. That's the good thing about being a real estate agent is that it doesn't matter what prices are. See, if you're an investor right now, you don't really know what to do if you're saying the house flipping business. You're not going to buy anything right this second. It's uncertain of what things are really worth right now today. But as a real estate agent, it doesn't matter. We're going to go out there and it buys our clients the best we can to help them accomplish whatever goals they're trying to accomplish. And as transactions happen, we're going to make a percentage of it with zero financial risk on our end. Now, one thing to really point out here is that let's say that we're down 30% transactions right now, which I think could be the case right this second. Number one, this is about as dead as the market will ever be. Number one, so I hope that's some relief to you because with 70% of the same amount of transactions happening as did last year, we're in an incredibly massive position. This is an incredibly phenomenal position to be in with that many closings happening. You can't get your head down. You can't let headlines shock you. You've got to go all in and say, I'm going to get out here. I'm going to be the one. I'm going to be the one that goes out here and helps the most people. That should be your goal at the beginning of the year. Work hard to help as many people as possible. How many of our transactions come out of that is what happens. At the end of the day, January 1st, when I wake up, I don't say, let me sell 100 properties today. I say, let me go help as many people as I can and work as hard as I can to do that. Whatever amount of transactions comes out on the other side is whatever it is. I have zero control of that. Why am I going to make a goal around something that I have zero control of? I'm not personally. I'll make a transaction goal, but I'm not going to put a lot of weight on that goal. I'm going to be more focused on my day to day. Am I talking to 10 people? Am I making five new friends a day? Am I doing my weekly email? Am I making my videos? Am I pushing out content? Am I helping people? Am I communicating with the best intentions possible? Now, as far as the feds go, are they intentionally have heard this crashing the housing market? Absolutely not. What they're doing is just trying to curb inflation. Inflation is the enemy right now. Now, does the fed have a hand in inflation and where it is right now? That's another debatable subject. But the fact is, is that right now, where we are, they're just trying to curb inflation. And that's what's kind of crushing us right now, because when we have higher interest rates, what happens? Well, the sellers don't want to sell because they're not going to buy at higher interest rates. So it creates less inventory. We have less buyers that can afford houses. So we have less buyers in the actual market on the surface. Now, do we have so much pent up underlying demand? Yes, people want houses. And that is the silver lining here is that we have so much demand for so many years and decades ahead of us. It's not even funny. We're in such a solid industry that it's just, it's unreal. It's unfathomable how amazing of a position that you're in right this second as a real estate agent. Now, if you're a real estate investor, same goes for you. It's just going to take a second from the market to adjust to these higher rates so that we know exactly where we are, so that you can go out there and flip houses, so that you can go out there and buy multifamily and long-term rentals and Airbnb's and stuff like that. Just give the market a second to breed, to catch up to this shocking interest rate hikes and we're going to be just fine. Now, it's said that interest rates are going to continue to go up. Same thing will happen. We'll continue to adjust as they go up, right? And what the beauty of the entire thing is is this, as we're adjusting the prices to compensate for the higher interest rates, once we get to that place and now we're in this new normal, then sometime next year, interest rates are going to start inching their way back down when we have much lower prices and what's that going to do? Here comes another frenzy. So just keep in mind, as real estate agents here, we're going to be busy now. Now we're going to be busy. 70% of the same amount of transactions, you better be out there getting it right now, building your business. But just think, we're going to stay busy all the way and then interest rates come down. What's going to happen? Boom. We're going to continue to be busy because here comes back a lot of that underlying demand. Guys, this is the most beautiful time in the world to be in real estate. This is a great time to begin your real estate career. It's a great time to be a broker owner, to start a team, to be a team leader, to have a mega team, whatever, whatever your thing is. It's a great time to start and to be very proactive and to visualize where you could really be in the next three to five years. It's only up from here, guys. Let's get it. Talk to you guys soon.