No Broke Months For Salespeople - Guide to Navigate Your Clients Better in the Market Place

Starting point is 00:00:00 Nobody can predict the future, but we know the past. And it's very, very predictable that right now, before the spring market gets here, before the interest rates start to drop, is the time to buy. So that's the way that you help them to interpret the marketplace. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if you aren't making the money you deserve.

Starting point is 00:00:30 So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system so that every month is No Broke Months. My name is Dan Roshan. I'm the host of the No Broke Months. My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me.

Starting point is 00:00:54 Enjoy the show. Guide to navigate your clients better in the marketplace. Real estate coach Dan Roshan from No Broke Months for Real Estate Agents explores the ins and outs of navigating the dynamic marketplace. Real estate coach Dan Rashan from No Broke Months for Real Estate Agents explores the ins and outs of navigating the dynamic marketplace. Dan gives you an insightful guide to help you better understand and serve your clients in the ever-evolving business landscape. Master the art of informing your clients about the marketplace in the latest No Broke Months for Real Estate Agents episode. So what's relevant to your marketplace today?

Starting point is 00:01:32 What's relevant to all of our marketplaces today is the mortgage rates. I'll give you an example of what may be relevant in a local marketplace, such as Washington, D.C. About a month and a half ago, Ted Leirosis announced that he's going to be moving the washington wizards which is the washington dc uh basketball team and the washington capitals which is the hockey team from dc to potomac yard maril uh virginia by 2028 what that means is that Potomac Yard will be developed because it's been developed over the last 10, 15 years. Once upon a time, it was like sort of a blight in the Alexandria area right outside of DC. And today it's been relatively developed. They've added a metro

Starting point is 00:02:21 stop in there and it's going to continue to develop. Guess what happened two days after I had announced that they had announced that that was happening? Or two days before they announced that that was happening. Two days before they announced that that was happening, I had a client who closed on a home in Potomac Yard. You think they were happy? Absolutely. And that was lucky timing for them. So you can't necessarily predict that. But now that you understand it, you can use that information to describe it to others. Interest rates. In 2021, interest rates were an average of 2.96. They went up by 2022 to an average of 5.34. Today, they're an average of 7.22. The Fed has announced that they plan to start lowering the interest rates on the overnight bank loan over 2024, but there's no guarantees for that.

Starting point is 00:03:28 So what the good news is, if I'm explaining this to a consumer, is if you're a buyer, right now is the time to buy. It's the time to buy because when the interest rates go down, what do you think the consumers will do? Do you think there will be more activity in the market or less? More, great. And so when there's more activity in the market, will that cause prices to go up or prices to stay stable or prices to go down? When there's more demand, less supply, what happens? Prices go up. So nobody can predict the future, but we know the past.

Starting point is 00:04:06 And it's very, very predictable that right now, before the spring market gets here, before the interest rates start to drop, is the time to buy. And guess what? You can refinance 18 months from now when the interest rates finally drop to a balance of what I predict will be around 5%. I don't think you'll ever see 2.96% in our lifetimes, unless if you're much, much younger than me, maybe. But for many of us, I don't think you'll ever see that again. So that's the way that you help them to interpret the marketplace. Thanks so much for listening to the No Broke Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life, and go find a listing.

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No Broke Months For Salespeople - Guide to Navigate Your Clients Better in the Market Place

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