What The recent Rate Hikes Mean For Home Buyers | Knowledge Brokers Podcast 038

Byron Lazine, Lisa Chinatti, and Tom Toole discuss their predictions on the Fed meeting, higher for longer mortgage rates, and the RE/MAX and Anywhere settlements before treating the BAM Camp audience to some objection handling role-play and a live Q&A. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription. kvCORE and BoomTown are delivering the innovative solutions, and the support you need to power your business and scale your success: https://boomtownroi.com/knowledgebrokers/ FUBCON 2023: Use promo code “bam_vip30” for 30% off your first ticket. Each additional ticket is 55% off, so buy for your friends who are also looking to scale next year! → https://www.fubcon.com/ Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–01:30 Intro 01:30 Predictions on what the Fed will do (FOMC meeting) and impact on the housing market 05:33 Rising fall-through rate for home purchases 06:51 The theme is higher for longer for interest rates 09:02 RE/Max & Anywhere settlements and the impact on the industry 16:33 Objection handling role-play: Tom as objection handler and Byron and Lisa as sellers 17:43 Buyer agent compensation and leveling the playing field 19:00 Lisa’s first question (as a seller) to Tom: “Tell me about your experience.” 19:49 Byron’s objection: “...What experience do you have here?” 20:53 Articulating the advantage of working with you versus the [average agent / FSBO] option 21:51 “What are you going to charge in order to do this?” 22:41 “I don’t know if it’s the right decision for me to give up this rate…” 24:55 “If we did decide to sell with you, how would you price the property?” 30:27 Whoever asks the most questions controls the conversation. 31:49 It is an at-bat business (working Fri-Sat-Sun) for the next 12 months. 33:35 Q&A: “What do you predict for the interest rate next year?” 37:24 “Do you think the cuts will be larger than the hikes?” 39:26 “Do you see fewer agents and more double-sided deals going forward?” 41:29 “Agents should be thinking like builders right now…” 43:56 What should knowledge brokers be doing right now—and the mindset to have 48:55 Just as important as the wins are the losses. ——— 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/ ——— BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers. Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka. Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Check out BAM: https://nowbam.com/ ——— BAM PARTNERS 𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/ 𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://myvirtudesk.com/contact?promocode=BAM200 ———