On this week’s episode of The Real Word, Byron Lazine and Nicole White discuss why homebuilder sentiment is plummeting and five truths every agent should know about shifting markets.
Homebuilder sentiment plunges in July
First up is a CNBC article on homebuilder sentiment in the U.S, which has plunged to its lowest level in 37 years, with the exception of April 2020.
Byron talked about his recent visit to Naples, Florida, where he talked to homebuilders working on several new communities. These builders aren’t worried. When they put new homes on the market, they release only four at a time – each priced above the average price for new construction – and each one attracts 30 bids.
That doesn’t erase widespread concern over significant segments of the homebuying population being priced out of the market.
I think it’s now time to over-educate the agents on the building process and what they can expect…. it could actually ease the concerns of these buyers, which would then maybe even spark these builders’ sentiments back up to where they feel they can start building again.
Separating players from pretenders
Next is an Inman article by Jimmy Burgess: “5 Truths Every Agent Should Know about Shifting Markets.”
The five truths Jimmy writes about are:
- People want to deny a change is happening
- Ego is going to kill a lot of businesses
- The influence around you will be amplified
- In times of change, there is a flight to safety
- Players are separated from the pretenders
The following quote addresses both ego and influence – and, in practice, often highlights the differences between professionals and pretenders.
Be somebody who’s willing to absorb when you’re around a 30/35-year vet. Just because they’re maybe not as active as you are right now in your business, they’ve seen things that you haven’t. And it’s really valuable the information that they hold. And I would just be asking them, when I’m around those types of people, when I get a chance to mastermind with the best of the best, the most experienced, I would be asking a million questions and collecting that data.
New Segment Coming Next Week
Last week’s episode featured the last marketeer of the week – the Inman Innovator Awards. So, this week, as a transition to our new third segment, we’re starting a little BAM debate on who stands the best chance at winning the award: The Real Word or the Over Ask podcast.
Watch the full episode for more.