May 30, 2022
In one of our most recent episodes, Matt was fired up about thinking bigger and providing more service. Today it’s Garrett’s turn to take the ball and run with it. Where “pivot” was the big catchphrase, “market shift” and the belief that buyers and demand are dwindling has taken center stage most recently.
But is this really the case? Garrett says, “No!” - and Matt agrees, by the way. So join our hosts as they discuss what’s really going on. Tune in as they warn against wishing for a “normal market”, provide a few suggestions for avoiding burnout, and dig in on how being a Ninja almost ensures that you will stand out in your market—wherever it is and whatever it looks like.
As with so many of their topics, today's episode is inspired by you! Your comments and questions, your time in coaching calls, the ideas and information you post on social media… Matt and Garrett take it all in and are so grateful that you engage the way you do. Keep it all coming! Tell them how they can help in real time, and they will.
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Episode Highlights:
- How is the previous market like a dinner
auction?
- Has the current market actually
shifted?
- Serious, actual buyers are not
dwindling
- Home values are still
appreciating
- What makes a “normal
market”?
- Adaptation is key
- Keep your processes static and
stable
- What is a “non-cream puff”?
- How can being a Ninja make you shine in any market?
Quotes:
“There’s always people in the room that have no intention of buying or have no ability of paying the amount that these items are going to go for. But they’re so excited that they’re in an auction. Like, ‘I’ve got my paddle, I’m going to have dinner. We’ve had a couple of drinks. This is fun! Let’s do this!'”
“So really, has the marketplace changed? Or has it just cleaned out the people that were never really going to buy to begin with?”
“Really what we’re dealing with is people that still really need to buy or sell—we actually have the same marketplace with less headache and less moving parts.”
“So all those people that have been dragging along buyers going, ‘I hope, I hope, I hope, I hope,” but they really should have said, ‘Go away! This is not your marketplace to play in.’ The market just did it for them. Raise the interest rate up a little bit and they’re like, ‘Oh crap! I’m out. Too steep for me’.”
“It’s not like they’re going and writing contracts with somebody else. They’re still in your database. And when they’re ready to step up and play, you’re still there to help them and run your process.”
“It’s a really good thing that we can clean out a little bit.”
“Typically when you think of a market shift, the mindset behind that is, ‘We’re about to go the other direction’. And I haven’t personally seen anything, read anything, or experienced indications that appreciation is going to turn to depreciation.”
“There has never been a normal market; there’s no such thing as ‘normal’. There’s a real estate market, which is about as normal as it’s going to get. The normal part is that we help people buy and sell homes. And then all the other factors that come in around as the ever-changing environment that we’re working with: you just need to adapt to that.”
“Real estate is not a commodity market.”
“The one thing that doesn’t change is your processes. What doesn’t change is how you qualify your buyers and sellers. What doesn’t change is how you set expectations so that you can help people succeed.”
“This is where you get to shine by going against the grain a little bit.”
“Use this as an opportunity to really understand who your buyers really are—who the buyers out there in the marketplace really are—and get focused on that.”
Links:
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Matt
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