Tom Toole and Lisa Chinatti discuss CPI data and comments from Lawrence Yun and Logan Mohtashami, household incomes falling in 17 states, how agents should be coaching their clients, developing role-play skills, the 80/20 rule in real estate, and business planning for 2024.
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Timestamps:
00:00–00:51 Intro
01:17 CPI data and a comment from Lawrence Yun
04:48 Logan Mohtashami’s comment: the CPI data makes a case for a pause in rate hikes
07:23 Major geopolitical event in Israel and its impact on the U.S.
10:33 Incomes are falling in 17 states (including Massachusetts) despite strong job reports
12:23 Housing affordability is still a major challenge for consumers
14:15 The opportunity for buyers in this market and how agents should be coaching their clients
19:35 Your (conversational) skills are going to be the average of the people you role-play with.
21:00 What role-play is—and what it’s NOT
22:55 What happens if a million real estate agents leave the industry?
23:58 The top 20% of agents are responsible for 80-90% of transactions; the top 10%…
29:44 “I think mergers and acquisitions are going to go up, too…”
33:53 Anything you’re doing on November 1 will impact your business in 2024.
35:20 September’s rate lock decline; volume fell 20%
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/
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