Today’s show is part 3 of 14 Rules for the Shifting Market
Don’t overreact! The market is shifting, not crashing. Knowledge = Confidence and Ignorance = Fear. If you expect buyers and sellers to transact with you, you must be educated, motivated and proactive.
10 – Ask more questions and communicate nearly daily. A nervous market tends to make up stories and create drama when it’s unnecessary. The stress is very real for your clients so be the leader in the transaction.
11 – The market is not about to crash. It may SEEM like a crash to you if you believe that 20 days on the market is the end of the world. This time is NOT like last time. Many agents, buyers, sellers, and lenders were not even adults during the ‘last time’… the crash of 2007-2009. The elements are not remotely the same. Waiting to buy or sell because you think the market will crash is a mistake.
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12 – Rates will continue to climb and then stabilize higher than you’re used to or want them to be. However, they’ll still be at historic low rates even if they land in the 6% range. Get your knowledge updated about adjustable-rate mortgages, buydowns, seller financing, and other alternatives to the 30-year fixed. Also, realize that today’s 30-day fixed rate is still going to be better than tomorrow’s or next month’s rate.