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How’s the market? The last answer you will ever need! · The Real Estate Agent Playbook

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  What's up agents when you're at a party or when someone comes up to you at a
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  coffee shop Have you ever been asked how's the market and you immediately jump in
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  you're ready to go You're telling about how the market is you're spewing all of
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  this information whether it's positive or negative interest rates inventory all
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  the things Well today, I'm gonna tell you one answer that will change your career.
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  Stay tuned
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  What's up, guys?
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  Welcome to the real estate agent playbook.
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  My name is Jeremy I am here to help you win every single day
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  at the game of real estate.
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  So please, while you're here, if you like what you hear, please share this, throw
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  me a comment, like be forever grateful.
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  If you're listening on the podcast, please share this with
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  your favorite real estate agent.
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  We are growing that community day by day, show by show.
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  And I am forever grateful for all of the support you guys have given me.
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  But let's get into this.
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  I was recently at a Conference the next big thing given by Nicole Ruth here
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  in the Denver metro area and she had a guy by the name of Phil Jones That
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  was the keynote there and he absolutely blew my mind with some of the things
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  he said Very pertaining to real estate.
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  He talked a ton about real estate agents and the self indulgence and
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  how we often answer questions from our own best interest, from our own frame.
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  And he started talking about the how's the market question.
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  And if you're anything like me, you're kind of up, up to
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  date on all the knowledge.
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  Obviously, Nicole Ruth's statistics are, are forever, in my, in ringing in my ears.
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  And when people ask me how the market is, I typically always say good.
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  And the truth is, it's not good for everyone.
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  And so, Phil kind of, put a, threw a wrench in it.
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  We're gonna talk about what he said and the one liner that you
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  can use that will absolutely change your business a little bit later.
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  But, let's start from a buyer's perspective, right?
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  Their how's the market, typically is, you know, is it a good time to buy or sell?
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  And Phil, likened this question to asking someone who lives in Florida
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  or California, Hey, how's the weather?
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  Right?
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  And sometimes it's just the way we start conversation, and truthfully, the
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  person asking it, when they ask how the weather is, usually doesn't really care.
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  And he was saying that, you know, sometimes, since people know that we are
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  in real estate, they'll say, You know, how's the how's the market is a good
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  time to buy is a good time or sell And we just kind of clamor on and say a bunch
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  of things that go in one ear and out the other and so When we're talking about the
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  market and if a buyer walks up to you and says or someone walks up to you and says
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  hey Is it a good time to buy a house?
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  As an agent, we've been trained.
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  It's always yes, right?
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  It's a great time to buy a house.
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  The best time to buy a house was yesterday.
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  The, the second best time is today, right?
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  And, and that truthfully, like, you know, what he said is it's a true
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  reflection of exactly how you feel, right?
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  And how can you tell a buyer that it's a good time to buy before
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  you know their circumstance?
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  What if they are in a situation where they own a home and
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  their interest rate is 2.75?
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  And they're perfectly happy in their house.
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  Is it a good time to buy for them?
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  Probably not.
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  Right?
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  And so as you kind of go through this and you're talking about this,
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  any answer besides the one that I'm going to give you at the end of this
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  is a little bit self fulfilling.
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  So regardless of if you use what I'm going to tell you at the end of this
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  video or you, you know, have some other, you know, response to that question, The
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  truth is it depends on their situation.
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  So step back and actually dig into what they, their situation is
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  because it truthfully cannot be a good time to buy for every single
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  person that asks you that question.
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  And as we kind of start to think about that, does our value stack kind of change?
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  Does our, you know, approach change?
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  Do we start attracting more?
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  People that can trust us.
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  Do we build our level of trust a little higher if we're actually digging deeper
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  than just answering the surface question?
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  And the answer is probably yes.
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  Right?
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  So Phil Jones, obviously author of exactly what to say, a great book here.
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  However, changed the whole perspective.
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  Right?
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  And throughout his talk at The Next Big Thing, he would ask, you know,
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  hey, is it a good time to sell?
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  And the real estate agents would continuously be like,
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  yep, it's great time to sell.
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  Well, he kind of went into it.
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  So if we're talking about sellers, Hey, Hey, Mr.
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  Real estate agent, you know, is it a good time to sell my
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  property, my investment property?
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  Well, I don't know is your investment property cash flowing,
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  you know, like crazy, right?
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  It's a pretty good time to sell overall because the appreciation is high and so
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  on but if you have a really good tenant in there That's you know cash flowing
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  and and everything's good I mean, is it a good time then you have the taxes
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  and you have all the things that come into it Okay, let's flip the script
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  say, you know, it's a flat market.
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  You have a a home that's in one of those areas that, you know, definitely
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  is about what they bought it for.
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  They have a tenant that they're just kind of breaking even with.
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  That's all great, right?
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  However, let's flip the script a little bit and say that that tenant's
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  not paying any rent and their cash out of pocket to pay their mortgage
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  every single month because they're, they're COVID years and they don't
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  have to pay rent in some, you know, states that we may or may not live in.
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  Right.
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  And so in that case, is it a good time to sell?
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  Maybe.
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  Right, and then you have the tenant problem, and you
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  have to go down that road.
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  But at the end of the day, it depends on what the seller situation is, right?
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  Is it a good time to sell can never be answered.
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  So what is that question?
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  How's the market?
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  Interesting.
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  Why do you ask?
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  And this one question, I was like mind blown, like completely
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  changed the whole deal, right?
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  First and foremost, we can figure out if they actually give two
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  shits, if how the market is, right?
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  But secondly, It's a way of prospecting without any cold
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  calls without anything, right?
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  Because if someone says, how's the market and you say, interesting, why do you ask?
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  They could say, well, my brother's looking to buy.
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  I'm looking to sell.
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  My mom's looking to sell whatever they say, or they could say, actually,
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  I'm just wondering, like, that's when you're like, okay, well, we might as
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  well talk about the weather in Florida.
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  They may not, they may just be asking, you know, as a, you know, something that comes
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  out of their mouth automatically, but they could be like, Oh, why am I asking?
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  Oh yeah, because my neighbor was talking about putting their house on
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  the market, or I'm truly thinking about downsizing because I have a massive house.
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  Sure, I have a great interest rate, but we don't use 90 percent of the house and
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  our, our electrical bills higher because of that or whatever that looks like.
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  And so they're going to give you leads, right?
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  We talk all this about leads and all this stuff.
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  Think about if we quit paying, you know, Op City 35 percent or Zillow 45 percent
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  or we quit paying monthly for those leads that are coming in that are terrible and
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  we just have to sit on the phone all day.
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  Think about if we just answer the question.
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  How's the market with the term or the phrase interesting?
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  Why do you ask?
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  Because that could lead to many many leads and it's absolutely free It's just
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  a response to a question that we get asked over and over and over again So special
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  thanks to Phil Jones for providing that information And then we just need to
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  make sure that we're you know, capturing those people get ready with your notes
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  get ready with whatever You know, you can take it from there But interesting.
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  Why do you ask?
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  Well, absolutely change your prospecting game forever So I hope that one helps
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  if it does, please throw me a like comment let me know what you think
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  Let me know if you have any questions about where it goes from there.
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  We could definitely hop on a call and take it further However, for now i'm
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  gonna let you limit on interesting.
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  Why do you ask?
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  Hope you guys have a good one like comment subscribe.
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  We'll catch you on the next one