This week’s episode of the Knowledge Brokers Podcast is every bit as entertaining as it is informative, with Byron Lazine and Lisa Chinatti giving Tom Toole some grief over his WiFi connection and a lively discussion on Memorial Day weekend plans. 

First, though, our hosts share their biggest takeaways from last week’s episode with KCM Chief Economist George Ratiu

From there, the conversation turns to a Zillow survey that shows 55% of buyers turn to real estate agents for financing advice. They discuss the different kinds and levels of financing knowledge needed by buyers in different environments—along with the reasons why agents should be having daily conversations with (multiple) mortgage lenders

From there, they pivot to how quickly AI is developing and how it will impact the real estate industry in the next ten years—making bigger and faster advancements in one decade than it has in the previous two. 

The next topic touches on the sacrifices buyers are making to afford a down payment on a home purchase—and a Tweet Byron has seen asking the question, “When will homes be affordable again?” 

Next up are the debt ceiling talks, the likelihood of a debt deal being made, the impact of the uncertainty on the market and mortgage rates, and what could happen when the deal is struck.

Finally, the conversation wraps up with the high cost of online lead generation.

Click on any of the timestamps below to watch: 

00:0000:55 Intro

00:55 Takeaways from last week’s episode with George Ratiu (KCM Chief Economist)

05:38 55% of buyers turn to real estate agents for financing advice

11:27 53% of repeat buyers go back to their agent for financing questions

14:13 Different kinds & levels of knowledge needed by buyers in different environments

16:27 Ivy Zellman quote

17:18 AI and the next 10 years of the real estate industry

19:28 12% of buyers report skipping meals to save enough for a down payment

20:52 “When will homes be affordable again?”

22:25 Market and interest rate reactions to the threat of default

25:26 Predictions on what will happen when a debt deal is struck

27:02 Why it’s so important to have daily conversations with (multiple) lenders

30:30 Plans for Memorial Day weekend

33:07 The high cost of online lead generation

Click here to watch the full episode.