Big V here. Today I’m talking about teams and the shifting market. You might be wondering, what does it mean when the market shifts? Is it good or bad? Is it going up or down? At Workman Success Systems, a shifting market means that what worked yesterday may not work today, and what works today may not work tomorrow. We need to adapt our behaviors for the future.
Understanding the Shifting Market
A shifting market can be influenced by many factors, including inflation, interest rates, inventory, or even major lawsuits affecting the real estate industry. These changes create uncertainty, causing people to pause their buying and selling decisions. For example, sellers who need to downsize might hesitate because their current 2.5% interest rate could jump to 8-9% if they move, which can be paralyzing.
Similarly, buyers who could afford a $400,000 house at a 2-3% interest rate two years ago might only be able to afford a $250,000 house now with rates at 8%. This is what it means to be in a shifting market.
Overcoming Negative News
Most consumers today get their information from negative news sources, which can paralyze them further. As real estate agents and coaches, we need to create positive messaging and use emotional intelligence to move people from feeling stuck and frustrated to being optimistic and motivated.
Introducing the “Hidden Gems” SHIFT Module
One way to help clients is through our SHIFT modules, designed to address market changes. The first example is our “Hidden Gems” module. This story involves a real estate agent struggling with stalled sales due to rising interest rates. We introduced her to “Hidden Gems,” such as adjustable-rate mortgages, assumable conventional loans, and VA loans with low interest rates.
These hidden gems are often overlooked by agents who rely solely on their mortgage loan officers. By learning about these products, you can increase your value in the eyes of your clients. Our module includes scripts, dialogues, and social media posts to help you communicate these gems to your consumers effectively.
How to Increase Your Value
To stand out as a real estate agent, you need to message differently and provide value to your clients. Our Hidden Gems module is a perfect example of how to do this. If you’d like a copy of this module, it’s usually available only to our private coaching clients, but I’m giving it to you today. Just click the link below to get your copy of Hidden Gems.
The “Stop, Drop and Save” SHIFT Module
Another SHIFT module we offer is “Stop, Drop, and Save,” inspired by my own experience buying my first house. Back then, my wife and I were renting and knew we needed to buy a house to build our future. We used a 2-1 buy down to qualify for a home at a lower interest rate, allowing us to buy our first home despite limited income.
By using strategies like 2-1 buydowns, government programs, and seller concessions to buy down interest rates, buyers can qualify for homes even in today’s high-rate environment. The real estate market has its peaks and valleys, but the overall trend is always up. Buying a house today, even at a higher rate, offers the chance to refinance when rates drop.
What the Housing Market Shift Means for You
As real estate agents, we need to communicate the opportunities available to our clients, even in a shifting market. By being knowledgeable and proactive, we can help them navigate these changes and help them make informed decisions.
Subscribe to my YouTube channel to download our SHIFT modules Hidden Gems and Stop, Drop and Save (along with access to ALL of my downloads) and put these tactics into play! It’s time to be the source of good news and show your clients that now is a great time to buy and sell a home. With the right skills and knowledge, you can help them move forward confidently.
Let’s embrace the opportunities in this shifting market and turn challenges into successes for both our clients and ourselves.
