On this episode of The Walk Thru, Byron Lazine and The Broke Agent welcome back Jason Cassity, the man who brought the world’s greatest referral network (REFER) to the scene and who recently moved from Compass to REAL Brokerage.
And, for the first time, Robert Mack, the toast of the town in Orange County—the man who hikes volcanoes with his bare feet—is here to weigh in on this week’s hottest topics in the world of real estate.
Those topics include a housing crash, the Zillow Opendoor partnership, direct mail, and the Tom Ferry Success Summit. We also announce the winner of our drawing for two free tickets to the Summit and the BAM & REFER Bash.
Housing Crash
“Will the housing market crash?” According to an Inman article, more people than ever are asking Google that question.
For some, it’s an expression of hope that housing prices will go down. For others, it speaks to their apprehension about whether it’s a good time to enter the market.
The reality is, we’re taking this market month-by-month….I’m hesitant to give absolute certainty to people and say that the market will continue to rise. I think there are micro-markets everywhere. And there are cities in Orange County right now that have over six months of inventory and are declining. And there are cities in Orange County that have a month’s worth of inventory and thriving….
Byron doesn’t think we’ll necessarily see a price correction, and he recommended sharing data with tools like KCM charts to help consumers understand the market.
With what we’re seeing, it’s safe to say prices will continue to go up at this point, though the picture may look different in micro-markets across the U.S.
Zillow & Opendoor
The Zillow Opendoor partnership is a gift that keeps on giving—at least content-wise. We shared some agent reactions to a BAM Instagram post and asked our guest moderators for their thoughts.
I think it was a smart move. It might be a weird thing to hear, but ultimately, from the macro perspective, Zillow wanted to get into the iBuying space, and they didn’t do well…. It just seems like a match made in heaven…. I don’t necessarily think that iBuying is ever (going to) be more than 5% or 6% of a niche-kind of a situation, but they’re definitely gonna corner that 5% or 6% when it comes to it…
It’s worth adding, too, that 92% of people in the last 12 months chose to work with an agent. That percentage has increased in the last ten years, while the iBuyer slice of the market has stayed in the low single digits. So, consumers still want the service real estate professionals are providing them.
Direct Mail
Our third topic concerns a CNBC article on the USPS and its recent decision to hike prices for the holiday season.
This may not be directly related to real estate, but many agents are running direct mail right now. If you’re one of them, this affects you and your business budget.
That said, there are plenty of other marketing options to consider, and this looks like a good time to explore them.
I think some agents want to take a passive approach to their marketing—a passive approach to building brand. And stuffing an envelope or doing an every door direct campaign is just swiping the credit card, crossing the fingers, and hoping that you’re gonna get a call back….. This would be the time that I would AVOID the mailbox…and I’d be diving in building my brand.
While direct mail may not work in all markets, it is an approach that is a staple for many. Robert Mack will be delivering a keynote address at the Tom Ferry Summit on direct mail, because he’s always used it in his business, focusing on an average price point of $2.5 million.
TF Summit Dallas
The official drawing for BAM’s giveaway happened right on the show, and the winner of two VIP tickets to the Tom Ferry Success Summit was announced. She’ll also be our guest at the BAM & REFER Bash from 6:00 to 9:00 pm on Tuesday, August 23rd.
Byron asked Robert Mack whether he was nervous about delivering his keynote speech at the Tom Ferry Summit on Tuesday.
Mack jumps off of cliffs, he swims with sharks, he hikes volcanos on his hands. You think he’s nervous to talk about direct mailers to us? Absolutely not. He’s gonna crush it.
Watch the full episode for more.
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