6 Easily Avoided Career Killing Mistakes
Does it seem like everything is harder right now? Correct these easy-to-remedy common mistakes and unlock your momentum. There are deals everywhere, but you have to be more disciplined, more skilled, and more savvy to find them now that the market has shifted away from FOMO.
The good news is that once you correct the course, you can easily get back into your groove.
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Top 6 MISTAKES (and how to fix them ASAP!)
#1. Playing the waiting game. Waiting for the market to crash, waiting for interest rates to come down, waiting for inventory. Waiting doesn't get transactions into your pipeline, nor does it help your clients and prospects achieve their goals.
You must take control of your day, week, month, quarter, and year to defeat the waiting game! Say this at least 10 times! : "If it's meant to be, it's up to me!"
Action Steps:
-Accept the fact that there are zero indicators that the market is going to crash. Zero. While there are some price ranges in some markets, this year is set to close with between 5 and 9% increase in home values. Low inventory, stable demand, lots of new construction, and rising prices are not indicators of a housing crash. If any of this changes, we'll let you know.
-Interest rates will eventually get lower, but are not likely to go below 5.5% to 6.5% maybe even for the rest of your career. Stop wishing for the old market and embrace the new market.
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-Learn about several ways to achieve a lower rate and lower payment. Refer to last week's podcast about 3 ways to achieve lower mortgage interest rates. Learn about what the builders are doing; many new home loans are closing in the mid-5 % range right now. Take action to find out where in your market this is happening!
#2: Expecting your buyers to send you what they want to look at versus finding the right homes for them yourself!
Action Steps:
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-Get and use the Buyer Presentation, which drills down on specifically what your buyer clients desire in their next home. What's a deal maker and what's a deal killer? Are both people on the same page if you're working with a couple? Can you handle objections like: 'I want to wait for rates to come down, or prices, or both?'
-Once you know what they need, that they are motivated and qualified, it's YOUR JOB to find them the right home. Think out of the box! Refer to our podcast series about how to find inventory. Consider changing the type of property, and the price range (sometimes going down- market can find alternatives), expanding the geographic search, or looking at new construction.