Knowledge Brokers Podcast

Tom Toole and Lisa Chinatti discuss CPI data and comments from Lawrence Yun and Logan Mohtashami, falling incomes in 17 states, coaching clients in the current market, role-play skills development, the 80/20 rule in real estate, and business planning for 2024.

Byron Lazine and Tom Toole discuss the terms of the Anywhere settlement, NAR’s reversal on zero-percent buyer commissions, a BAM webinar on business planning, how to talk to buyers and sellers about mortgage rates, what to tell renters if buying right now is not in their best interest, and a script to start using right now with homeowners. 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 Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–01:14 Intro 01:14 Anywhere settlement terms 03:28 Anywhere will no longer require its brokerages/agents to be NAR members 09:57 NAR’s reversal: now allowing zero-percent buyer agent commission on listings 11:15 There’s an opportunity for a new RE association to emerge 15:08 BAM is hosting a Business Planning webinar on October 11th at 3 pm ET 17:31 Agents need to spend less time ranting and more time taking action 25:34 What’s going on with the 10-year? How are you explaining rates to buyers/sellers? 33:57 Script: “If you sold your house, could you buy the next one with cash?” 37:21 Business planning should include skill-building on what to say 40:27 Encourage renters to get an expiration on their lease for this time next year. ——— 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 ———

Byron Lazine, Lisa Chinatti, and Tom Toole discuss how to navigate mortgage rates at their highest level since 2000, the nationwide drop in pending sales, and the mindset you need to have to insulate your Q1 in 2024. 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/knowledgebrokers 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 Navigating mortgage rates at their highest level since 2000 03:36 The mindset you need to insulate your first quarter of 2024 04:37 Pending sales fell 1.7% year over year in August in all four regions 07:27 Total U.S. housing market gained 49% in value since before the pandemic 09:04 “These kinds of markets make great agents.” 10:31 “Learn to get comfortable having uncomfortable conversations…” 13:49 The basics of business planning for real estate agents ——— 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 ——— #realestateagent #mortgagerates #realestatemarket

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 ———

Byron Lazine, Lisa Chinatti, and Tom Toole discuss the latest CPI data, Danielle Hale of Realtor.com coming to KBP, consumer debt becoming unsustainable, speculation on funding for a (likely) NAR settlement, laziness on listing appointments, and next week's BAM Camp. Join us at BAM Camp on September 20th for an unforgettable all-day event in Naples, Florida! https://brokeagentmedia.lpages.co/bam-camp/ 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/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: 00:00–00:44 Intro 00:44 CPI data this week—higher than expected 02:34 “I just want the Fed to NOT raise rates.” 03:59 Danielle Hale (Chief Economist for Realtor.com) coming to KBP next week! 04:42 Consumer debt reaching unsustainable levels 05:35 Lisa’s take on the data: consumer debt vs savings 08:47 Lisa’s takeaways from the conference and viewpoints on the class action lawsuits 15:21 Speculation on NAR funding for the (likely) settlement 18:34 Redfin’s reports on home prices and home purchase cancellations 21:45 Database protection is going to be critical 22:50 “I see so many agents being lazy with their listing appointments.” 24:18 The listing appointment is more about relationship building than the home tour. 28:45 Live KBP during BAM Camp next week! ——— 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 ——— #listings #realestateagent #realestatetips

Byron Lazine, Lisa Chinatti, and Tom Toole discuss the settlement of commission lawsuits, the impact on agent training, disappointment in NAR, challenges faced by agents, and the need for adaptation in the real estate industry.

Discussion on rising unemployment and its potential impact on the next Fed meeting, strategies for agents to increase market share in Q4, using reverse psychology to build trust, strong opinions about NAR and its role in the real estate industry.

Byron Lazine and Tom Toole discuss why housing market affordability is worse now than in the 2006 bubble, the surge of first-time home buyers, where mortgage rates are headed this year, the opportunity that presents for buyers and agents, and a new program by Zillow Home Loans. Join us at BAM Camp on September 20th for an unforgettable all-day event in Naples, Florida! https://brokeagentmedia.lpages.co/bam-camp/ BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription! 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 Housing affordability is worse now than it was in the 2006 bubble (Fortune) 03:00 Opportunity for buyers: reduced competition due to higher mortgage rates 08:09 Are we going to hit 8%? / Don’t expect home prices to go down. 10:56 Supply is at its highest point for the year 12:50 Powell’s statement at Jackson Hole meeting and the next FOMC meeting 17:05 WSJ article: Slower hiring could take heat off the Fed 18:00 PA bill to implement a 4-hour work week—and a better way to solve the root issue 25:30 It’s less about hours worked than it is about productivity and objectives hit 26:58 Why you need an accountability partner 29:02 Unique opportunity for buyers—and for agents 29:40 A text message to send out—and the results Tom is getting from it 31:34 Inviting buyers to a 10-person Zoom 32:56 Half of those purchasing homes in 2023 are first-time home buyers (BAM) 34:41 Zillow Home Loans is offering a 1% down payment program Show Resources: https://fortune.com/2023/08/22/housing-market-affordability-is-worse-now-than-during-the-housing-bubble-homes-prices/ https://nowbam.com/half-of-those-purchasing-homes-in-2023-are-first-time-home-buyers/ https://www.housingwire.com/articles/where-are-mortgage-rates-headed-2/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=4&cx_experienceId=EXZNOASUT0V6#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: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Check out BAM: https://nowbam.com/ ——— 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 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

Byron Lazine, Lisa Chinatti, and Tom Toole discuss the 30-year fixed, the difference between earned optimism and wishful thinking, the conundrum for real estate professionals, how knowledge brokers play the long game, and Warren Buffet’s latest investment in U.S. builders. Join us in August at the TF Success Summit!! Use promo code PRBAMSS for $100 OFF!! https://www.tomferry.com/ssb Join us at BAM Camp on September 20th! — https://brokeagentmedia.lpages.co/bam-camp/ BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription! Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–01:08 Intro 01:08 Highest 30 yr fixed since December, 2020 01:46 Optimism among real estate agents & the knowledge broker mindset 04:07 What could happen if we hit 8% with the 30-year fixed 04:41 “I made a massive mistake with my business.” 08:41 Earned optimism and a holistic view of the market 13:02 The Stockdale paradox 16:51 Mortgage rate predictions and the “Scary Chart” (NAR) 18:54 The conundrum for real estate professionals 21:51 How much home can you buy with a $2,500 monthly mortgage pmt (chart) 23:15 What does stability look like & how to talk to buyers in today’s market 25:54 How knowledge brokers are playing the long game 29:53 Warren Buffet investment in three U.S. builders and what it means Show Resources: https://www.linkedin.com/posts/lawrence-yun-592a76146_the-federal-reserves-comment-about-another-activity-7097997420260638720-RYfn/?utm_source=share&utm_medium=member_ios ——— 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/ ——— 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 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 ——— #realestatenews #realestatetalk #realestatepodcast

Tom Toole and Lisa Chinatti discuss the CPI increase, why you may be working to get results in Q1 and Q2 of next year, consumer sentiment on buying a home, developing a solid nurture plan for your clients, and why you should bet on activities—not results. Join us in August at the TF Success Summit!! Use promo code PRBAMSS for $100 OFF!! https://www.tomferry.com/ssb Join us at BAM Camp! Sign up now for early bird pricing: https://brokeagentmedia.lpages.co/bam-camp/ BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription! Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–00:54 Intro 00:54 The CPI rose to 3.2% through July (areas that rose and fell) 05:16 More shelter inflation deceleration in the pipeline 07:06 What’s the message a knowledge broker needs to bring to a consumer right now? 09:07 Will we see a surplus in inventory—with a drop in home prices? 10:11 Seth Godin’s “The Dip” (chart) & why you need 90 days minimum before seeing a result 13:12 Young buyers in 2023 and working to get results in Q1 & Q2 of next year 17:31 The Best Practices for Lead Response Management (chart) 20:30 We’re in a much longer lead time & what it will take to get from listing to sale 24:44 One of Lisa’s pet peeves & nurturing the client relationship every step of the way 20:03 “Not all agents are going to be great at future-pacing sellers…. “ 29:57 Over 82% of consumers say it’s a bad time to buy a home (Fannie Mae HPSI) 32:10 The qualification process & matching your follow-up strategy to your prospect’s mindset 34:19 Developing a solid nurture plan (the balancing act) 38:30 Have you signed up for BAM Camp yet? 39:23 Bet on activities—not results Show Resources: https://www.housingwire.com/articles/cpi-rose-3-2-in-july-but-shelter-inflation-will-continue-to-decelerate/ https://www.housingwire.com/articles/inflation-data-laying-groundwork-for-the-fed-to-pivot/?cx_testId=6&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXAPB9I50LOS#cxrecs_s https://nowbam.com/stuck-in-renting-purgatory-over-80-believe-its-a-bad-time-to-buy-a-home/ ——— 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/ ——— 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 Partner: Vulcan7: The most accurate, powerful, and effective lead generation resource to build your business: https://www.vulcan7.com/referral/bam/