Knowledge Brokers Podcast

Byron Lazine and Tom Toole discuss the latest FOMC meeting minutes, rising mortgage rates and falling inventory (again), the housing market’s loss of $2.3 trillion in home values, Fannie Mae’s revised forecast for 2023, and the best business plan for real estate agents in 2023. Use the discount code BAM23 for Virtudesk to hire your first virtual assistant today and save $250 on the start-up fee: https://bit.ly/Virtudesk-BAM Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–00:52 Intro 00:52 FOMC meeting minutes 02:55 A bumpy road for the housing market–with downward pressure on home prices 08:34 The data suggests the best time to be a home seller is Q1 09:02 The data also suggests Q4 as the best time to be a home buyer 18:41 A script every agent should use and why 21:51 No one ever moves to time the market. 23:38 Redfin’s report on home value loss of $2.3 trillion 27:04 Fannie Mae revised forecast for 2023 29:09 Business plan for 2023: Spend 80% of your time having conversations 32:15 How do you do this: Hire a virtual assistant! Show Resources: https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20230201.pdf https://www.housingwire.com/articles/housing-market-tracker-mortgage-rates-spike-as-inventory-falls/ https://fortune.com/2023/02/22/housing-market-correction-home-prices-decline-real-estate-2-3-trillion-dollars/ https://www.inman.com/2023/02/22/modest-recession-could-put-a-lid-on-2023-home-sales-fannie-mae/ —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/ #realestatepodcast #realestateagent #housingnews

Byron Lazine and Tom Toole discuss rising mortgage rates, the recent rallying of homebuilder sentiment, falling inventory, inflation causing an uptick in mortgage delinquency, and the meaning of value-based follow-up (including examples). Check out the latest BAM live cold-calling event with circle prospecting: https://www.youtube.com/live/7Zbv4LScJic?feature=share Use the discount code BAM23 for Virtudesk to hire your first virtual assistant today and save $250 on the start-up fee: https://bit.ly/Virtudesk-BAM Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–00:40 Intro 00:40 Just two weeks ago, we were at 5.99% 02:18 Byron’s prediction for 2023 with mortgage rates and pent-up demand 04:15 Mortgage demand plummeted 7.7% 04:30 Glen Kelman interview on CNBC: “Half the inventory we had in 2016-2019” 06:51 KCM chart on buyer demand at different mortgage rate levels 11:26 70% of agents have no experience with a down market 15:15 Homebuilder sentiment is up 23:07 Watch the Hot Sheet to be as informed as you need to be as an agent 29:59 Takeaways from Glenn Kelman’s comments on the CNBC video 34:20 Mortgage rates will probably hit 7% within a week 35:14 What agents should be focusing on right now 37:11 Value-based follow-up Show Resources: https://www.housingwire.com/articles/housing-market-tracker-inventory-drops-as-mortgage-rates-move-higher/?cx_testId=8&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXAPB9I50LOS#cxrecs_s https://www.cnbc.com/video/2023/02/15/mortgage-rates-move-higher-along-with-homebuilder-sentiment.html https://www.housingwire.com/articles/mortgage-rates-inch-closer-to-7-in-the-midst-of-a-strong-economy/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXZNOASUT0V6#cxrecs_s https://www.housingwire.com/articles/weaker-economy-inflation-caused-mortgage-delinquency-uptick-in-q4/ https://www.cnbc.com/video/2023/02/16/were-still-at-half-the-housing-inventory-of-2016-through-2019-says-redfins-glenn-kelman.html —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/

Byron Lazine and Tom Toole discuss the record low for housing affordability for Q4 2022, Altos research 2023 predictions, mortgage rate volatility, and shifts in inventory levels over the past one to four years. Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–00:43 Intro  00:43 Inventory levels and shifts over the past 12 months/four years  07:14 This is a five-year (at least) problem 08:02 Housing affordability at a record low at the end of 2022  21:13 Real estate investors  28:28 Biden’s SOTU speech and Byron’s breakdown  27:52 Young adults on the move  35:15 The number one reason people don’t want to list their homes  39:36 Why agents should be having conversations with local decision makers Show Resources: https://www.housingwire.com/articles/housing-market-tracker-inventory-and-purchase-applications-data-fall-together/ https://www.housingwire.com/articles/housing-affordability-ends-2022-at-record-low/ https://www.housingwire.com/articles/altos-research-housing-market-predictions-for-2023/?cx_testId=9&cx_testVariant=cx_1&cx_artPos=5&cx_experienceId=EXAPB9I50LOS#cxrecs_s https://www.housingwire.com/articles/mortgage-rates-rise-for-the-first-time-in-2023-is-volatility-back/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=6&cx_experienceId=EXZNOASUT0V6#cxrecs_s https://fortune.com/2023/02/09/housing-markets-400-largest-inventory-2023-home-prices-real-estate-maps-charts/ —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/ #housingmarket2023 #realestatepodcast #housinginventory

Byron Lazine and Tom Toole discuss the recent Fed meeting and the 25 basis point rate hike, falling inventory, the drop in showing traffic, the latest jobs report, and the second-biggest home price correction since World War II.    Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1  Join the 5AM Call: https://5amcall.com/    Timestamps:  00:00–00:29 Intro  00:29 Topic #1: The Fed’s recent rate hike  02:45 It’s still the highest inflation in 40 years  05:33 Lawrence Yun’s prediction (and how he and Logan M are on the same page)  08:01 Topic #2 Falling inventory & bidding wars  09:37 Unemployment hit 3.4% – the lowest level since May  1969 10:25 I’d have 2-3 partners, and I’d have conversations with them daily.   14:50 Topic #3 The jobs report: “Are we entering a job market bubble?”  15:49 Topic #4 Showing traffic is down but still above seasonal pre-pandemic levels  22:57 Topic #5: Second-biggest home price correction since WWII  24:48 Headline + “Here’s why it doesn’t matter in X market…” What should come next?  29:10 That $500/month savings is 11.08% of the median household take-home income   Show Resources:   https://www.housingwire.com/articles/housing-inventory-falls-once-more/  https://fortune.com/2023/01/31/housing-market-update-home-price-correction-mild-so-far-case-shiller/  https://www.housingwire.com/articles/hawkish-fed-couldnt-curb-market-optimism-and-mortgage-rates-tumbled/  https://www.inman.com/2023/02/01/home-showings-dip-in-december-but-slowdown-may-be-easing/  https://www.cnbc.com/2023/02/03/jobs-report-january-2023-.html    —-------  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: http://eepurl.com/hZU-Vn    Check out BAM: https://nowbam.com/     —----  Connect with Byron Lazine: https://www.instagram.com/byronlazine   Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/  #inflation #housingmarket2023 #realestatepodcast

Byron Lazine and Tom Toole discuss housing inventory dipping below 1M again, purchase applications increasing by 25%, U.S GDP rising 2.9% in Q4, the rise in housing affordability and sentiment, and how inflation has derailed millennial home buying plans. Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–00:39 Intro 00:39 Topic #1: Inventory below 1M again 02:48 How much is good inventory? 08:14 NAR graph: “Median Price of Existing Home Sales” 09:24 Byron’s strategy for listing agents in 2023 12:11 Topic #2: 9 out of 10 millennial homebuyers say inflation is impacting their decision 26:50 How much time per day should an agent be absorbing content on their market 30:12 Preparing for two different types of conversations 33:16 Topic #3: GDP up 2.9% in Q4 2022 37:11 98% expect a Fed rate hike of 25 basis points 41:20 Chart: “Target Rate Probabilities for Feb 1 2023 Fed Meeting” 42:51 Topic #4: Purchase applications are up 25% 44:50 The “Best Agent Hacks” event Show Resources: https://www.housingwire.com/articles/housing-inventory-under-1m-again-as-sales-collapse/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXZNOASUT0V6#cxrecs_s https://www.housingwire.com/articles/housing-market-tracker-purchase-apps-jump-25/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXZNOASUT0V6#cxrecs_s https://www.cnbc.com/2023/01/26/gdp-q4-2022-us-gdp-rose-2point9percent-in-the-fourth-quarter-more-than-expected-even-as-recession-fears-loom.html https://www.housingwire.com/articles/affordability-improves-as-do-hopes-for-a-good-spring/ https://nowbam.com/92-of-millennials-say-inflation-has-altered-their-home-buying-plans/ https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/

Byron Lazine and Tom Toole discuss the increase in mortgage applications, homebuilder sentiment rising for the first time in a year, and the need for more single-family housing completions. Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–00:25 Intro 00:25 Optimism about this week’s housing market news 00:53 Mortgage applications are up 28% from one week earlier 04:13 Millennial homebuyers 05:47 Having a multiple-offer mindset 10:23 Byron’s biggest worry right now 15:36 Prices are going to drop, but only because… 15:57 Tom’s expectations regarding the Fed 21:32 Creating an ad to show sellers why now is a good time to sell 24:27 Increase in inventory: “We need to double up again.” 28:58 The biggest issue right now is the supply of single-family homes 34:25 What agents should be telling sellers (Hint: NOT “Wait ‘till the spring”) 35:50 The changing playbook and the need to track changes on a daily/weekly basis Show Resources: https://www.mba.org/news-and-research/newsroom/all-news/2023/01/18/mortgage-applications-increase-in-latest-mba-weekly-survey https://www.cnbc.com/2023/01/18/homebuilder-sentiment-in-january-rises-for-the-first-time-in-a-year.html https://tradingeconomics.com/united-states/total-housing-inventory https://www.housingwire.com/articles/for-mortgage-rates-to-get-better-we-need-more-housing-completions/ https://www.housingwire.com/articles/housing-market-tracker-good-news-on-inventory/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXZNOASUT0V6#cxrecs_s https://www.housingwire.com/articles/homebuilders-are-pushing-through-inventory-backlog/?cx_testId=6&cx_testVariant=cx_1&cx_artPos=2&cx_experienceId=EXAPB9I50LOS#cxrecs_s —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/

Stocks rallying after CPI dips 0.1%, a favorable jobs report, Goldman Sachs projections, and an increase in seller concessions are today’s topics as Byron Lazine and Tom Toole discuss the latest news, updates, and trends on the Knowledge Brokers Podcast. Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–01:59 Intro 01:59 Markets rally after CPI drop 02:30 Bullish or bearish? 07:25 The Fed is not believing in the trend. 11:14 Goldman Sachs projections 12:10 Employment changed by industry 14:17 Concessions are up 15:13 The most important things for agents to know 18:56 Advice for agents to prep sellers 23:22 Why pricing at market value is the strategy 26:10 The #1 stressor for sellers 29:47 Let’s talk about prices 40:45 Those who get to the market sooner… Show Resources: https://www.cnbc.com/2023/01/11/stock-market-news-futures-open-to-close.html https://www.cnbc.com/2023/01/12/consumer-prices-fell-0point1percent-in-december-in-line-with-economists-expectations.html https://www.housingwire.com/articles/solid-jobs-report-sends-mortgage-rates-lower/ https://finance.yahoo.com/news/home-sellers-offering-concessions-buyers-203507459.html —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/ #inflationexplained #jobgrowth #cpi

A review of 2022 and forecasts for 2023, key differences between 2023 and 2008, and what it means to be a knowledge broker are today’s topics as Byron Lazine and Tom Toole break down a few of the latest industry headlines. Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Stand out as the go-to real estate agent with our easy-to-share blog posts, social media graphics, videos, guides, and more with KCM ➡️  https://www.trykcm.com/BAM Timestamps: 00:00–05:51 Intro 05:51 “A Tale of Two Halves” (Housing Wire) 17:09 What could happen if we don’t fix the inventory issue 23:09 Key differences between the 2022-2023 housing market and 2008 26:46 What 2023 will look like 27:12 Logan Mohtashami’s 2023 forecast (Housing Wire) 28:43 Prices aren’t likely to go down on a large scale until… 34:21 What could happen if the job market weakens 37:24 Knowledge broker entry-level requirements Show Resources: https://www.housingwire.com/articles/the-2022-housing-market-a-tale-of-two-halves/ https://www.housingwire.com/articles/housing-market-tracker-inventory-falls-again/ https://www.housingwire.com/articles/logan-mohtashamis-2023-housing-market-forecast/ https://www.wsj.com/articles/december-jobs-report-unemployment-rate-economy-growth-2022-11672961227 —------- 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: http://eepurl.com/hZU-Vn Check out BAM: https://brokeagentmedia.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/