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2nd Quarter Review & 3rd Quarter Forecast 2025 · The Spiro Podcast: Managing your Real Estate Photography & Videography Business

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Coming up on this episode of The Spiro podcast.
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we're speaking the realtors language.
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And your positioning yourself as more than just a photographer.
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And I hate to say this, but for photography,
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if you only talk about photography, it boils down to a commodity.
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It does.
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But if you could position yourself as somebody that understands
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the market as a whole and how your tools, your your commodity
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can help them grow their business, you've now positioned yourself
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differently than someone that isn't diving into the numbers.
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Hi and welcome to the Spiro Podcast,
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managing your real estate, photography and videography business.
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Spiro is a software platform.
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It's designed and created to help you manage your day to day real estate
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media business and ultimately really do help you grow and scale.
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If that's your goal and we hope it is those those of you like me
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that like to keep things small as well so everybody fits under this hat.
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Welcome back to the podcast.
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I'm your host, Craig Magrum.
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In with us this week.
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We do have a special guest, although she's more of a regular.
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Really?
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But also our owner and founder, Todd Kivimaki
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Welcome back.
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Todd.
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Craig. Great to be in here.
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Fabulous week here. We've got some exciting stuff.
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This is one I look forward to.
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This is our market update.
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You guys are getting used to it.
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You're looking forward to it.
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So one thing I just want to say is just everything.
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All of the input and all of the just the questions
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and the things that you send into us is just incredible.
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I had a tech talk last night.
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I do tech talks, on Thursday, check the Spiro Super User
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Facebook page, but I just love being in there with you all.
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You have just such insightful questions.
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You're so kind to begin with and we get through some really good stuff.
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So if you haven't been on a tech talk, go find an old one and watch it,
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or at least breeze through the comments.
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There are some really good stuff in there, some stuff that I screwed up
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for 20 years and then finally figured out the right way to do it.
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And you all give good input too.
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So it's just it's super exciting to,
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have you all and be a part of this community with you.
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Absolutely.
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And, the guests we mentioned, Shannon Landers.
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Welcome, Shannon.
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Thank you guys.
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Always a pleasure to be here with you.
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We're excited to talk about, kind of recaps.
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Yeah.
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Numbers, second quarter recap and third quarter forecast.
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But before we do that, Todd, we always like to give some updates on
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Spiro, and Shannon has some things to share about Spiro itself as well.
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So I'll let you two take and run with it.
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Yeah. Thank you Craig.
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So I'll give you a quick Spiro update.
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So the next cycle we're calling this cycle 12 will launch July 8th.
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So you this might be after July 8th.
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The time you're listening to us. So this is live in your system.
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And a couple of things that you will see are admin override ability.
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So as an admin you can place an order for an agent.
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And you do that just like an agent does it.
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And there's a couple of things being override the price and override
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the date and time that you're like, hey, can we just do it on the order page?
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And with this update you can do that.
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There's some other goodies in there like split payments, new property, website
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A about Me section for your realtors, which is really cool.
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Put that in your newsletter.
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We talked about on the Tech Talk,
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but some really good things for you to reach out to.
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Reasons to reach out to your agents.
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Excuse me.
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The last thing I want to say.
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And I said from the beginning that
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and I heard from you all say, hey, I just want you to be more transparent.
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Tell us what's happening.
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So what's happening for cycle 13 is we are looking at
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you're not going to get any one great new feature.
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We have like ten of them in mind
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and some game changing features you'll get later in the year.
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But we know you're busy, and we know that when we push these new features out,
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when you're busy, it's one more thing for you to figure out.
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And then you're like, oh, did I set it up?
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Am I using it right?
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How do I tell my agents about it?
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My agents are asking me about it.
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I don't even know anything about it.
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So we wanted to take that off of you.
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We wanted to look at what you are using in the system
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and how we can compact time for those actions.
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So just a very simple example is the property website editor.
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I know many of you are out on the road using that thing while you drive.
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You should don't use it when you drive.
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It's not good.
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All right.
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So that's the first thing.
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Like I'm going to be Dad Todd today.
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Like don't use it when you drive. It's very dangerous.
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But I know some of you
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pull the car over or you wait before you go in your next shoot
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and you are looking through yesterday shoots, trying to rearrange,
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trying to expedite, trying to make sure everything's done QC’d and then deliver.
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And we are looking at the way you use that page
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and we are 100% optimizing it for you.
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So a mobile optimize, it's great on a desktop,
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but we've got, you know, six foot wide monitors on a phone.
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It's different.
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So those are the type of things that we're going to change for you.
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I want to give you back more time so that you can work on the bigger
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things, that are more important, that will make your business a success.
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So that's coming in 13.
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That's the end of August.
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So we get just in it.
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Yeah. Sorry awkward transition y'all. But I love them.
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You guys got a little this.
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So another question we get asked all the time is as you
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guys come in and and I know some of you out there don't use Spiro
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And that's okay I'm still happy to have you in here.
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We've had a lot of you recently like, hey, I just need to get switched.
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Like I've been I've been wanting to do this. Now's a good time.
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I want to get switched or new people coming in.
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Okay. We have solutions for you.
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So Shannon came up with some beautiful programs.
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Some are like a no cost to you.
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Shannon, can you tell about our onboarding options?
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Yes. We're super excited.
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And this will be, posted out in our super user group today.
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So if you're in there, you'll see it.
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And if not, just shoot me an
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email at Shannon.spiro.media and I'll send it right over to you.
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But we have created some great packages to get onboarded in the system.
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And this all started about a year ago.
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I've been here a year who is on very fast.
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And through this time, we've been helping people onboard into the system
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because we understand and and, you know, Todd, the more customizable
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we make the system,
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the it's just a little bit harder to get in there and get going.
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And we know this system best.
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So we just decided we really want to help people.
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So we've been kind of doing this like preview program where you buy
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some credits and and for that commitment we give you our time.
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So we hired back in December.
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Lovie, so many people have heard Lovie's name and we love Lovie.
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She is awesome.
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And she has
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really creating her own onboarding team, and she has hired
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Maria to assist her, who is actually her sister.
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So I have two amazing people that can help onboard
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you and get you all acclimated into the system.
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But what we know is that not every business is the same size, right?
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We have new people just starting with the mid side businesses
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and we have some really large businesses looking at coming over to Spiro,
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and we're thankful for all of that.
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So number one, thank you guys for for looking at us.
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And so for that we have a foundation
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onboarding program where they can literally just pay $250.
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They get that in credit.
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So it's essentially free. Right?
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Those credits are wait a minute.
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Say that it's it's free.
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It's free because when you're 250 it's going to go right on their account
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and just cover their first 50 listings so they don't have to worry about it.
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And for that we're going to build their system
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for them, build their default order page and give them a launch call
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and go through everything so they know how to use the system.
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And then, of course, those midsize businesses,
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we have our accelerated program.
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So we do more. Right? We did.
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We give you a little bit more and it's $500
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and you get half of that half of that back end credit.
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So it's really only $250
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to have our full team do multiple launch calls with you,
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build all your order pages, take care of everything.
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And then we have one more layer.
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So for those big companies or for the people that just don't have
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the time, we have our enterprise level and we will do everything.
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We will write your descriptions, we will create your thumbnails,
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we will do multiple launch calls.
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And the best part you will have a slack channel directly
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to the onboarding team for the first 90 days.
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And so lots of power that is in $1,000 program.
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But again, 500 of that is going to go to credits to your account.
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So it's really only $500 that you spend
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to have one on one attention.
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The first 90 days you're in Spiro.
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Love that. Love that. It's great.
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It's the assets and those that are going through the programs.
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They they love it. It's one less thing.
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And when we talk about time
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tracking a lot like this is something that you can have.
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You can pay nothing or very little to have us do.
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And then you can focus on bigger items and plus you can have us.
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We do this all day, every day.
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We know this system from back will optimize it for you.
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So, you know, that's just something to think about.
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And again, I know I'm biased because this is Spiro
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and it's our product, but something to think about.
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And we did it because we heard from you guys like, hey, can you do this for me?
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When you have enough people ask you something and do this in your business.
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If you have enough Realtors ask you for something
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you should begin to consider, like, do you do it for them?
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So that is us listening to you guys and we are gracious
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for your feedback and excited about these programs. Yes.
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And if you have any questions, you know, again, feel free to email me.
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We're going to put some information out there.
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It'll be on our website very soon.
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So we're we're just excited to help get you in the system,
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let you keep focusing on going and getting clients, which is what you want to do,
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and us teaching you and helping you, move there, Spiro, and get more time back.
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Right.
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The whole goal, like, let's get more time back.
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So very, very excited.
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So now we going to talk about a bunch of numbers, which is not always exciting.
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I think it is because I'm a realtor, so I actually and we know me.
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I just like the numbers anyway.
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So do you ever want any data analysis?
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Just throw out my way because I really like to look at it.
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I like hearing about the
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numbers, I just don't I don't want to crunch them all.
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I don't disagree with that.
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I just I just want them to me.
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And then I can look and yes, analyze.
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Right. Yeah, absolutely.
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Or Shannon did all the hard work. Craig.
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And the reason why we do this, like Shannon
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said, is we want you to make metric based decisions.
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There are so many things in your business that will get you emotional,
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at least I can be a very emotional person.
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Shannon or Craig.
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I try to put those emotions aside.
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Craig almost just spit out a string.
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Okay? You're not watching.
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I try to put those emotions aside and I try to make metric based assistance.
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I've made enough emotional decisions that I've looked back and was like,
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wow, I wish I didn't make that decision.
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So we try to tie everything back, the metrics, we try to look at it.
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So one simple example
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that I'll let Shannon give you all of the data,
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because this is going to be important with what you do.
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Looking at quarter three and four of 2025 and into 2026,
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one thing right now that you can expect, we're coming into the July 4th
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holiday here in the States.
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One thing
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you can expect is you are going to be slower.
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It's going to happen.
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I used to overthink this holiday times
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a hundred and I'm like, well, the fourth is on a Tuesday.
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I bet people will take off until Thursday and will be busy again on Friday,
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or the fourth is on a Friday.
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They'll probably going to work Monday, Tuesday? No, it's not going to.
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Realtors are not going to work any of it.
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You're going to not going to be as busy.
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In fact, I've got the data right here.
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If you're on YouTube and you can see I'll put my finger by the 4th of July,
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you see that it's a big dip down.
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Yeah.
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This is coming in here is build, build, build the busy season.
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Boom.
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It drops off. Here's eight years of data.
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There's like 100,000 jobs on here.
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It happens every single year.
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Don't be surprised at it.
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That's why we want you to make data decisions.
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Because next week on the fourth we're taking off time.
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Staff is taking off time.
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We tell them, hey, this is a great week for you to take off time.
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Staff's taken off time and we're planning
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for other things because we know the phone's not going to ring as much.
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The email is not going to be as busy.
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There's not going to be as many photographers needing something.
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This is where
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I'm going to insert some projects that I wanted to get done for a while.
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So that's why you make metric based decisions.
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But there's been plenty years.
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I've looked at July 4th, and I've sat here in this office
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and I've gone like, phone, could you please ring?
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And it's like, no, Todd, just don't be surprised by something that you know.
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So that's why we like to make metric based decisions.
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And one thing is that we're seeing a shift.
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She is going to tell you all about it,
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but we're seeing a shift in the real estate industry
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and knowing what that shift is, and knowing
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what's in the brains of your realtors will help you connect with them.
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So how's this all shaking down here?
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Quarter two of 2025 Shannon.
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You know, the data is actually really, really interesting.
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And we've been saying this for like about the last 18 months in real estate.
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Like it's just very strange. Like,
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and I think, you know, here's the here's the big picture, right.
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Typically real estate market, they cycle every 7 to 10 years.
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And what I mean by cycle is they shift from like buyer's market
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to seller's market.
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And it's a very normal trend. Right.
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What goes up must come down.
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What goes down must go up.
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This this is the level of the sales.
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What we've seen obviously.
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And the last one I didn't place it from.
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Yeah.
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Decade, about a decade is that we came out of a very,
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very large buyer's market right from 2008 nine
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when everything right
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and it was not.
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And there were thousands and thousands of houses on the market, right.
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And so we shifted by about 2014 to kind of normalizing.
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And then, honestly, the interest rate
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dropped and
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the houses just started selling like hotcakes, right?
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I mean, let's just face it,
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there was a year that you just threw a house on the market.
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You just threw it out there
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and it had 25 offers because there was no inventory out there.
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And everybody's trying to chase and get the same, you know, houses.
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So it is it it's definitely,
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trending to back to what I would call
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just a more normal cyclical market.
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That's that's what we got going on, Craig.
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And what we see in the numbers is we see sales down a little bit.
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Right.
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They are down and region only they're down differently.
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And we're going to talk about that because again real estate is very local right.
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We are going to talk today.
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And the broader picture of the United States and in regions.
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But it is very important
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and I'll say it on every single market update that we do that
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you dial into your local numbers and you see what's going on in your market.
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Because we have markets, especially here in the US,
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doing very different things and very different places, right
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from Austin to Dayton, Ohio to the East Coast to Florida,
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Alta, LA, it is a very, very different scene.
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So we're going to kind of get into these numbers. Craig, are you ready?
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As ready as I can be.
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I know, so I am actually going to share my screen. So,
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for those that are driving and listening to me, we'll talk about these numbers.
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Don't worry, you're on YouTube.
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Great.
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You you get to see a lot of these numbers.
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So let's do that, Craig.
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Let's get this shared and going.
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The right window here. There we go.
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I'm interested to see this.
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A friend of mine that I grew up with in school,
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he's a realtor out in, I believe it's Arizona.
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And he just posted a graphic yesterday.
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He said it's official. It's now a buyer's market.
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Market? Yeah, you're hearing that right now.
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And that's why I love talking about this regionally too.
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And we're going to I'm going to break out how now are so
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so number one, I pull most of my stats from Nar okay.
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The National Association of Realtors, they have a great chief economist.
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He's awesome.
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You can go to NAR site NAR.realtors and get all this data yourself guys.
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So this is all out there for you to see and use.
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They do little videos too, so you can listen to them
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while you're driving on what they think is happening in the market.
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The other place I get a lot of information on, and this is also just out there
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for anybody, is Keller Williams market update.
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So if you just Google Keller Williams market update, you'll get this site.
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They do this every month. They do a market update.
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And what I really love about what KW does and again I'm not
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you know I know we have many photographers that are agents too.
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So I don't I don't care what brokerage you're at.
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I'm just at KW and the information is easy for me.
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Sure.
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But what they do is they talk about strategies within the numbers.
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So that's what I love about that market update.
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They're talking to realtors or even to clients,
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buyers and sellers and saying, here's what the strategy should be,
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and here's an agent that you should work with with these kind of strategies.
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So I just really enjoy those two.
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So two resources for you.
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But here's what Nar is talking about right now.
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Now again these numbers are through May of 2025.
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Craig. Right okay.
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The numbers lag almost a whole month.
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Sure.
18:38
So the next June numbers will come out about July 23rd.
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So they just lag that much.
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But we're through five months of data here.
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That gives us a lot of data to look at.
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And we can do some of our fun predictions and things.
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So the first thing they do is we look at these existing home sales market.
18:59
Right.
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So what we're going to look at here Craig, is our existing home sales.
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First okay.
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So existing home sales what they're saying is they do a seasonal number
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and try to predict how many home sales we'll have this year.
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So right now this number is 4.03 million.
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If you remember when we talked last time
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we kind of predicted about 4.5 million sales this year.
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This doesn't mean we might not hit that.
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This is just how the numbers annualize right now.
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So if we were to take the numbers annualize them through the year,
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they're saying 4.03 million
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houses down, down from 4.5.
19:41
Yeah. Yeah. So so we'll see. Right.
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And if we look at year over year we're down 0.7%.
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So it's it's not a huge number
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but it's we're trending down now.
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Month over month was up 0.8 percent.
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So this is when I talk about the weirdness.
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The numbers like well year over year we're down.
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But month over month we're up.
20:05
Well it's May right.
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When do we sell houses.
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May, June, July. Right.
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So it's we should see those month over month numbers
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hopefully tick up a little bit.
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So then the next thing we look at is inventory okay.
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Inventory always tells the story.
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And we are up to 4.6
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months of inventory nationwide.
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We were at 3.8 months of inventory last May.
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So that is almost a full month
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tick up.
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And what that means, what everybody's always like.
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What does it mean when you say months of inventory?
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What that means is if we could sell every house that's on the market,
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it would take us 4.6 months to sell those houses, essentially.
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That's the easy answer. Okay.
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There's absorption rates
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and all sorts of things that go into this, but we won't dive into that.
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So inventory is up.
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Now if we overall look at a buyer's market versus a seller's market,
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what we typically say is six months and under
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is a seller's market and six months
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above is, buyer's market.
21:22
Okay.
21:22
So again, but really what the number means is
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do you have more sellers or do you have more buyers.
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If you have more buyers, then it is, you know, a seller's market.
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If you have more sellers than it a buyer's market essentially.
21:36
Right.
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So we are definitely trending towards that six month of inventory.
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So that is why you're hearing people say we're in a buyer's market.
21:45
And again locally that number could be higher.
21:49
Sure.
21:50
It also could differ price range.
21:53
Right.
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That's that's what I've been hearing from my clients in my market
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is the number I've heard, at least locally is like anything.
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315 above is sitting and price reductions are starting to happen.
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Anything below 350 is still flying off the market.
22:10
Yes, yes.
22:11
And you're going to see that. Right.
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And especially Craig, our markets are very similar,
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you know, that you and I are in
22:19
and I've had a first time home buyer price point of 220.
22:24
And it's taken us the 14 weeks to get them into a home.
22:28
So on average it takes 12 to 14 weeks to buy.
22:31
And that is what it's taken us because we've lost out on seven homes in a row.
22:37
Man. And it's exhausting for that, right?
22:40
There are a young couple getting married.
22:42
I'm so excited for them.
22:44
It's actually the daughter of the mother who watched my children, right?
22:49
Oh my gosh. Yes.
22:50
And I can't even believe she's getting married and buying a house, right?
22:53
Is it really making me feel whole?
22:56
But it's been great.
22:57
We finally,
22:57
I think, are getting them
22:58
locked into a house that they're going to love forever. So.
23:01
But this is the tail of the market now looking at prices too,
23:05
because that's kind of the third thing that matters.
23:09
Median sale price is up year over year, 1.3%.
23:14
But we're seeing the market have price reductions to your point.
23:18
Yeah. Right.
23:19
So what is that like if we really think about that, all that means is
23:22
we know that prices have been a bit elevated for a while
23:28
now. There's no bubble.
23:30
I very clearly want to stay there.
23:33
There's still no bubble that's going to pop.
23:36
There's no happening.
23:38
What does this mean is we'll probably have some price corrections that are needed.
23:43
But but not crazy.
23:44
We're not talking 20 to 30% price reductions or corrections.
23:49
We're just going to see probably a 1 to 8% correction
23:53
depending on what market you're in in prices.
23:57
So affordability for buyers,
24:01
what that means is it will bring more buyers back in the market.
24:04
Right.
24:05
Affordability will get a little bit better.
24:08
Interest rates are probably going to stay where they're at.
24:10
Guys.
24:11
Hey you know unfortunately
24:14
policy and the uncertainty in the government
24:18
can create just not moving
24:23
in the in those in those numbers.
24:25
So we just have to kind of, I think,
24:27
but I think most buyer sentiment is they're just fine.
24:30
They get it.
24:30
Three and 4% interest rates are not coming back.
24:33
And and that's never historically been normal anyway.
24:36
Ever ever I mean the historical average is 7%.
24:40
So we're we're good.
24:42
I'd love to get us I would love to be about five and a half, 6% sure.
24:46
That would be a great place to be.
24:48
And I think we'll get there.
24:50
But, I think the rest of the year we're pretty much going to see six
24:53
and a half to seven, and that's what we're going to live.
24:55
But there's a lot of programs, so that's a whole nother conversation out there.
24:59
So buyers have some options.
25:02
So looking at
25:03
pending home sales, what's interesting here
25:07
is that the pending home sales
25:10
are kind of our lead into existing home sales.
25:14
Right.
25:14
So what pending home sales
25:16
are is all the houses on the market that are under contract.
25:20
Okay.
25:21
So that tells us kind of what the next,
25:24
you know, 30, 60, 90 days of home sales could look like.
25:27
And what we see regionally and, and let me say this really quick.
25:31
So Nar breaks out the country in four different buckets.
25:36
Okay.
25:37
So they have the West which covers like California
25:43
to Arizona, Nebraska,
25:45
Montana kind of Alaska, that whole region.
25:49
Right. Hawaii.
25:50
They consider Hawaii and the West.
25:52
Hawaii is its own market in itself, right?
25:54
Oh, joke.
25:55
Yes. Then we have the South, which is like Texas
25:58
all the way over to Florida, up to the Carolinas.
26:01
Right.
26:02
Kind of right up to the bottom of Colorado and so forth.
26:05
So that's your south.
26:07
The northeast is the northeast, what we all consider to be the northeast, right?
26:11
Pennsylvania up to Maine, over, to Maryland.
26:15
Those are Rhode Island.
26:17
And then you have the Midwest, right.
26:19
Which Ohio, Indiana, that whole area
26:22
up to, North Dakota, South Dakota, Minnesota, that that's our Midwest.
26:26
Okay.
26:27
So these four regions and what we're seeing is that
26:31
it's a month over month, 1.8% increase in pending contracts
26:37
as, as a whole.
26:39
And then we could break that down.
26:41
The Midwest is up 0.3%.
26:43
The northeast is up 2.1%,
26:47
the South is up 1%,
26:50
and the West is up 6%.
26:54
Whoa. Really? Yes.
26:56
So I'm very interested to see these numbers,
26:59
because the West is actually having probably the highest number of,
27:04
decrease in existing home sales.
27:07
So this is kind of interesting.
27:08
Now remember it's summer
27:12
houses are on the market.
27:14
People are moving in.
27:16
So some of these pending home sales is probably seasonal numbers
27:22
that once we get to this summer we'll kind of see how they shake out.
27:25
Craig. Right okay.
27:27
Yeah.
27:27
So but overall guys again
27:31
sales are down.
27:34
And if we look at this regionally,
27:38
which is my next slide over here,
27:42
with sales I like to look at this.
27:45
This is kind of our look at the break
27:50
out of those four quadrants we just talked about.
27:53
Right.
27:53
The Midwest, the West, the South, the northeast.
27:57
And what we're talking about right now, guys, is existing home
28:00
sales year over year.
28:03
And in the Midwest they're down 1.2%.
28:06
The Midwest market still pretty good, especially in those price points
28:11
we were talking about earlier.
28:12
Craig, the northeast is flat.
28:16
They still have low inventory is what we're seeing there.
28:20
So they're staying pretty flat.
28:22
The South.
28:23
Oh, the South was the biggest drop actually.
28:25
Yeah.
28:25
Florida is actually to blame for most of that.
28:28
So the South is down 4.5% or 4.7%.
28:33
And most of this actually lives a bit in Texas and Florida.
28:38
When we actually get up to the Carolinas, they're actually seeing, inventory.
28:42
We're in Charlotte, right? Craig.
28:44
They're still seeing some inventory issues in Charlotte.
28:47
So it just kind of depends on where you're at.
28:49
We're seeing a lot of price reductions in Florida, like 50% of the listings
28:55
have price reductions, 50%, 50%.
29:01
Yes. But all
29:02
I think that really means is those prices got so elevated.
29:06
Yeah. They were really
29:09
they were really just too high.
29:11
And again
29:13
buyers are figured it out that they don't have to buy a house in a minute now.
29:17
Right.
29:17
We went through that period where they had to like
29:20
as soon as the house came on the market, they had to go see it.
29:22
They couldn't do anything else.
29:24
They had a writing offer right away.
29:26
And now we're seeing that inventory tick up and buyers are like,
29:29
wait a minute, I don't I can go, look, I don't have to make these decisions.
29:34
And so I think that's what you're seeing in that South Gulf state region
29:38
is that.
29:39
And then your west is down 2.9%.
29:42
So but what we see in those pending home sales again is
29:46
I think we'll see these numbers tick up for June and July.
29:50
And then we'll kind of see what it shakes out to the fall to look like.
29:54
So I actually predict that we still might hit that 4.5 million houses sold.
29:59
I it could happen.
30:01
And we'll see once we get through summer.
30:03
And then we analyze those numbers and see what we're looking at.
30:07
But I don't think we're we will had,
30:12
had had too much lower.
30:14
We definitely I don't think we'll go lower for sure.
30:16
So what that means is listings are still going to happen.
30:19
Guys, whatever business it's listings.
30:23
Right.
30:25
But agents are going to have to start thinking
30:29
about some of their strategies, because what I want to show next,
30:33
and this is what I wanted to dig into, is, okay, all these big numbers, you know,
30:37
what does this mean day to day then for our businesses and how realtors
30:42
might be starting to panic a little bit because things aren't selling as fast.
30:47
What great opportunities does that make for us
30:50
as the media professionals and consultants?
30:54
100%.
30:55
So two things I want to look at and I will say, guys, if you're
30:58
listening to this podcast, when you get a minute,
31:01
get on the YouTube channel, come back and look at some of these stats, okay?
31:05
Because visually to just really see it is you can just feel the story.
31:12
Okay.
31:12
So what slide I have up right now is total existing home sales
31:17
percent change year over year from the last year.
31:23
Okay.
31:24
And what we're looking at is we had a height of December.
31:29
Last year was a great month.
31:30
We were up 9.7% from year over year and sales.
31:34
December was great, January was great.
31:36
And then what do you see happening there? Craig?
31:40
We go down, down, down right.
31:44
So so far this year we lost 0.9%.
31:48
In February we lost 2.4% in March.
31:52
We lost 2% of home sales in April.
31:55
And then again May 7.7.
31:57
So April surprises me.
32:01
We let my market had a record year and a record month in April.
32:06
Yeah, yeah yeah.
32:08
And again, this is why we say look at your numbers though, right?
32:12
Right.
32:12
Because we're talking over a national market, right?
32:15
Sure. Great.
32:15
Every 50 states is what is the data we're pulling together okay.
32:20
So but this is this you see the trend down right.
32:24
We're seeing that sales are trending down okay.
32:29
The other thing that we see is
32:33
I think it yes median price.
32:36
So now we're looking at existing home sales.
32:39
And the median price.
32:41
And remember the median is that point in kind of in the not your average right.
32:46
Median is taking the whole quantity of the sales
32:49
and finding that median number okay.
32:53
So if we look at this from December of last year
32:56
guys we've done nothing but trend down in prices.
33:00
This is what I'm talking about with the price correction.
33:03
Right.
33:03
Prices were still up 5.8% in December year over year.
33:08
And then we see these trend down 3.93.42.6, 1.8, 1.3.
33:15
Okay.
33:16
So we're seeing these like I said these overall price correction.
33:20
And that is going to lead to agents
33:24
having to have really great strategies to sell listings.
33:31
Right.
33:33
Right.
33:33
You can't just throw it on the market put it at a price.
33:36
No. You're going to get 4 or 5 multiple offers.
33:39
You have to create the multiple
33:43
offers Craig okay.
33:46
And this is a shift.
33:47
This is what time is talking about.
33:49
This is a shift in the mindset agent need buyers buyers market.
33:55
They want buyers right?
33:57
You always want listings.
33:58
Don't get me wrong because listings bring the buyers okay.
34:02
But they have to really think
34:04
about how they price these homes
34:08
and how they market these homes.
34:11
Right.
34:12
The marketing becomes so important here.
34:17
So overall I'm going to stop sharing.
34:20
So I think that's about the numbers that we have here.
34:22
Craig. Sure.
34:24
Overall, what I am thinking and what I have kind of laid out
34:28
is we are getting to the point where agents can't skip the marketing.
34:33
They can't if they are out there taking cell phone pictures
34:38
and putting a $400,000 house on the market,
34:42
they are not going to get the most attention right now.
34:45
Listings need to get more attention, not less.
34:49
Right?
34:50
Okay, so how do we do that, Craig?
34:52
How do we help these agent
34:55
get more attention?
34:57
Well, I mean video drives everything
35:00
all the algorithms.
35:03
What I love about what we do, Shannon and I feel like
35:06
this is kind of my ultimate answer.
35:07
Is it really for us?
35:11
It doesn't matter if it's a seller's market
35:12
or a buyer's market, but we have to understand the difference
35:16
because the tools that we bring to them, as they're marketing consultants
35:19
and team members, we can position the tools that we have either way.
35:24
And it's a seller's market.
35:25
These tools help them win more listings.
35:28
They don't need to.
35:29
They don't need it to sell the property or property.
35:32
I've heard that so many times.
35:34
So I'm like, you're right, you don't in this market.
35:37
But if you want to win more listings, you better show people what you can do.
35:41
You can do.
35:42
And I, I saw the light bulb go on in multiple
35:45
clients, eyes when I presented it that way.
35:50
But now we're kind of trending more towards a buyer's market.
35:52
So our I feel like our message has to change.
35:56
Our tools haven't changed.
35:57
What we offer them, but how we position those tools does change.
36:01
Absolutely, absolutely.
36:03
And I think it creates moment for you to get in front of agents.
36:08
Yeah.
36:08
Absolutely. Right.
36:09
And how do we do that? We can teach them. Right.
36:12
We should be teaching them how to use the media
36:16
if they are already aware, or
36:19
those are classes that agents like to attend.
36:22
They like to understand what else is out there.
36:24
What do you have?
36:26
They can assist me and make my life easier in marketing these listings, right?
36:31
I have a title of one.
36:33
You could teach a class marketing listings with the best media.
36:39
And you
36:39
could create a 30 minute class of the top
36:42
five ways to use this media in social
36:46
to attract more buyers to your listing.
36:50
Period.
36:51
You could do that because they can't skip it.
36:54
Yeah, I think it's not so much the what of what we offer.
36:59
You can go in and say, we do this, we do that, we do that.
37:02
But the value that we can bring them is in the how in the world and the why.
37:07
Yeah, yeah, I totally agree.
37:10
Which is why I'm super excited about one thing that's releasing that.
37:15
Todd talked about on July 8th,
37:18
and that is a brand new
37:21
gorgeous property website.
37:24
Yes, absolutely gorgeous.
37:27
And why we're here.
37:28
If you're watching us on YouTube.
37:29
You just saw Josie leave.
37:31
Josie is my intern and she's helping me,
37:34
so she just is popping in and out and working on some things.
37:37
So, if you see our on the super user group, say hello.
37:41
Like I said, she's managing
37:42
a lot of social media for us, so she's also my niece.
37:45
So be nice. Very cool. Yes, yes.
37:50
Yeah.
37:50
We this property website guys, it's
37:53
going to have an about you section for the agent.
37:57
The agents are going to have this and be able to add that
37:59
right to their property website.
38:01
It is a beautiful design.
38:03
We've been working on this for a while
38:05
and this is just the first of many that we will bring.
38:08
We will bring more templates to you guys.
38:10
And why is this important on
38:12
why I'm talking about it is you could literally lead a class on how
38:16
and why to use this property website, and how you can use it in leads.
38:20
Facebook leads, Instagram leads.
38:23
It has lead captioner on it.
38:25
You have all the tools that you need.
38:28
No matter what brokerage you're at, you could utilize
38:32
a company that uses these tools with us to have an amazing property
38:37
website and showcase how their video and how the things are going
38:41
to get them attention. Right.
38:43
But we've got to make sure that we're pricing houses correctly as agents.
38:49
That's going to be the number one track is because now we can go
38:53
a little bit higher into the comps and still know where, okay.
38:57
And honestly, we could still do that.
38:59
It just might take 120 days for the house to sell him.
39:04
So up to your seller, what are they really looking for?
39:07
But if the agent really prices it right, they could still bring multiple offers
39:12
and the market is always going to bear the price for the home, right?
39:16
Right.
39:16
Remember we don't really set the prices agents.
39:20
We don't.
39:21
The market tells us because people buy at a certain price.
39:25
And that is what the home is worth, right? Yes.
39:29
So it's important to understand these numbers.
39:31
You know what the market has been doing where we think the market is going and
39:35
when we is,
39:38
as the media consultants.
39:40
I just I like that term for some reason I do too.
39:43
And teammates with the realtor when we understand the numbers
39:46
we're speaking the realtors language.
39:49
And your positioning yourself as more than just a photographer.
39:52
And I hate to say this, but for photography,
39:55
if you only talk about photography, it boils down to a commodity.
39:59
It does.
40:00
But if you could position yourself as somebody that understands
40:02
the market as a whole and how your tools, your your commodity
40:07
can help them grow their business, you've now positioned yourself
40:11
differently than someone that isn't diving into the numbers.
40:15
That's why we want to give you these updates.
40:17
And Shannon, I just I appreciate what you're doing.
40:19
In digging into that and sharing that with our, our listeners and viewers.
40:23
Absolutely.
40:24
It's like I said, I love the numbers.
40:26
So it's fun for me to dig in.
40:29
But yeah, you know, what we're going to see in the next couple months
40:32
is, you know, we'll go through our summer, our summer market.
40:35
Todd is right. 4th of July is like a break.
40:39
It's like the middle of the year.
40:41
Agents need a break.
40:42
Everybody celebrates the 4th of July.
40:44
At least to in the US
40:47
Yes, yes, true.
40:49
And so we all kind of.
40:50
And all the other countries have their little holidays too.
40:53
We, we actually, you guys, let's hear from you.
40:55
Let's tell us what holidays you guys all celebrate
40:58
and how your market shift in those holidays.
41:00
That would be interesting.
41:01
Yes. Yeah, it really would.
41:03
So, it we should
41:07
and I will start to search some other industry
41:11
is in some other markets and some other countries.
41:14
You know, we do have some great clients in these other countries.
41:16
I'll reach out to them, see what kind of market data I can get
41:19
so that we can definitely look at that.
41:23
But really lean in, you know, if my final message is anything
41:28
it is lean into the teaching of these agents on how to use video
41:33
to get more buyers to attract more attention
41:37
to their listing, which in the end will still bring them more listings too.
41:40
Right? It'll do both.
41:42
And then right now, the other opportunity is probably the branding guys.
41:47
Agents need the branding more than ever
41:50
in this social world that we live in and how they market their businesses,
41:54
and they should lean into some new content with it shifting to a buyer's market.
42:00
So you should be able to go out there and capture some content appointment,
42:04
because they haven't had to talk about a buyer's market in a while.
42:08
They haven't had to talk about super shifting markets.
42:11
Right.
42:11
We've kind of been in this just easy kind of spot.
42:14
But agents have to work, right?
42:17
This it's no longer like
42:18
I can just get my license, put my feet on the desk, say I'm an agent
42:23
and get business.
42:24
It's not going to happen.
42:27
It's it's time to get back to work.
42:28
So that is where we can really come in and help.
42:32
And I'm excited to bring this content, and we'll continue to bring it.
42:36
It's good stuff and especially is, is things
42:38
start to slow down and, you know, in fall, late fall, winter
42:42
when maybe you have more time to do those brokerage presentations,
42:46
those one on one coffee meetings, this things like this, you know, the the new
42:50
property websites, the marketing toolkit that just got revamped in Spiro.
42:55
It will give you educational opportunities and not just don't look at it
42:59
as a sales call or a sales appointment or a sales presentation.
43:03
Look at it as a consulting and education appointment, presentation, whatever,
43:08
and show them how to use the tools to help increase their business.
43:12
And you just you're going to.
43:15
When I first started in this, I started with a sales presentation.
43:18
Right.
43:19
Who who my company was, what I could, you know, the tools I had
43:24
and I didn't really show the how and the why and the, the benefit.
43:29
I just was talking about the features.
43:32
But as I've stayed in the market longer, everybody knows most everybody,
43:36
unless you're a brand new agent, knows who Wow video tours is.
43:40
Right.
43:40
So I've realized I can't just keep doing a sales presentation.
43:43
I've got to show the benefit that we bring to them.
43:46
And so tools like this, understanding the numbers,
43:49
take all of that as the owner, as the business
43:52
development specialist in your company and run with it.
43:55
Have some fun with it.
43:56
Show them how you're different and how you can really be a a valuable
44:00
and profitable team member for them to help them grow their real estate business.
44:04
I totally agree.
44:05
You know what we talk about at KW?
44:07
It's one reason why I do love KW,
44:10
is we talk about giving.
44:13
Giving back is a part of who we are
44:16
and the way you can give to the agents without having to give up anything
44:21
monetarily is give them information, give them value.
44:25
Right. We talk about this value.
44:28
We're not offering value then.
44:31
Then there's nothing there for us to build a relationship on.
44:34
And what do we know about relationships?
44:36
Craig?
44:38
I know they drive everything.
44:40
They drive everything, right?
44:42
So go create those relationships, give the value, learn the struggle of what
44:47
your agent that you're trying to do business with
44:49
is going through, so you can understand how to help them.
44:53
Right.
44:54
And that conversate that will bring you a client for life.
44:58
And that will also bring you a raving fan
45:01
who will then go out and talk about you and refer you.
45:05
So all of this stuff works together.
45:08
I'm happy to dive in with anybody.
45:10
Oh, I totally forgot about this.
45:12
I should tell everybody. Oh, boy,
45:15
I am going to
45:17
start a coaching call
45:21
once a month for one hour
45:25
that anybody can come on,
45:28
anyone.
45:29
So it's definitely geared for our onboarding clients at a certain level.
45:34
Okay.
45:35
But I'm going to let I'm going to open it up and let let anybody come on.
45:39
So the more information to come about that,
45:42
but in this one hour,
45:43
we'll really talk about what anybody wants to,
45:46
and we can talk about how to grow, how to maybe
45:49
fire clients, because sometimes you have to do that like it happens.
45:53
Right. And what kind to go after and how to target.
45:55
So I'm excited about it.
45:57
We want to keep giving you guys more and more.
45:59
Again, that's the value, right?
46:01
We're going to give the value because we know it's the right thing to do.
46:04
And that's essentially what everybody else should do.
46:07
Yeah.
46:07
I'm glad you said something about firing a client,
46:10
because once in a while it does need to happen.
46:13
There was a listener
46:14
I was talking with a couple months ago, and they were the they shared with me.
46:18
I love what you're you're sharing about relationships
46:21
and I'm trying to do all that.
46:22
But I had this, this client that strung me along and ended up dumping me,
46:27
even though I put all this work
46:28
into the relationship and it makes me just want to give up.
46:31
I just want to encourage you.
46:33
We all have those type of
46:35
clients at some point in our career, in our business,
46:39
you can't let that 1 or 2 or maybe even three drag you down and make
46:44
you want to throw your hands up in the air and give up on the relationship.
46:48
Approach, because there will always be people
46:51
that will shop and not value the relationship the same way that you do.
46:56
And ultimately, I want to just tell you that's not the type of client you want,
47:00
and they will drain energy from you, from doing what you could do.
47:03
For those that do appreciate you, absolutely.
47:06
Let them go.
47:07
Let him go, let him go.
47:09
Agents do the same thing.
47:10
Yeah, you have to let them go, too.
47:13
You know, sometimes you just can't please somebody.
47:15
And you shouldn't take that to heart and feel that.
47:18
Yeah, and make it take a personal.
47:19
You can get there, you know.
47:22
And so there's plenty of agents out there.
47:26
Plenty.
47:27
And they're coming in and out of the business all day long.
47:30
Yeah. Okay.
47:31
So go find the people that value a relationship and work with them.
47:37
And definitely, don't be upset if you just have to tell a client, hey
47:43
we're just not a good fit.
47:44
And I'm sorry, that word.
47:46
I'm not going to be able to help you. Yeah.
47:49
Yeah.
47:50
Shannon, thank you so much.
47:52
Appreciate your insight and wisdom.
47:54
Yeah. Thanks. I always enjoyed being on.
47:56
So whatever you guys come up with other topics I'm happy to join about those.
48:01
But this is definitely near and dear to my heart, so I'm happy to deliver.
48:05
If you've got a story about what's going on in your market, things,
48:08
strategies you want to share, feel free to leave a comment on the YouTube channel.
48:13
Or feel free to email us as well.
48:14
We'd love to hear from you.
48:16
It's just hello@spiro.media, and if you want to learn more about Spiro
48:21
itself, check out the website again, just spiro.media.
48:25
But we really do appreciate you guys taking time,
48:27
especially during this busy season that you take to either watch the podcast
48:31
or listen in between appointments or during your your work day.
48:35
We just want to say thank you.
48:36
We don't take that for granted.
48:38
Yeah, absolutely.
48:39
Craig, it's a pleasure to see you as always.
48:41
Thank you.
48:42
Likewise. Yeah.
48:43
Thank you. Enjoy the rest of your summer, sir.
48:46
I plan on it. Vacation.
48:47
Speaking of the fourth
48:48
and taking vacation, I'm going to be out the next couple of weeks.
48:51
There you go. Time with my family. So good.
48:54
Enjoy it. As you, take.
48:56
We do have to take advantage of these times, right?
48:59
Yes, I, I took a couple of days off next week as well
49:02
because it'll we'll, we'll all kind of quiet down and we'll enjoy.
49:05
Right.
49:06
So we always end the podcast by, by me reminding you,
49:10
be thankful for the blessings in your life and make sure you take a breath.
49:14
And that's what I'm doing trying to practice what we preach.
49:17
You guys have a great week.
49:18
Thanks for joining us.
49:20
Todd will be back with you next week.
49:22
No, we're going to take a break because the fourth is going to be two weeks.
49:26
Two weeks. All right.
49:28
All right. You guys have a great, great week.
49:30
We'll talk to you later.