In episode 222 of The Real Word, Byron and Nicole are joined by Tom Ferry to discuss if we are in a housing bubble, the plan to increase housing supply with affordable housing and Tom favorite marketeers.
Tom Ferry with Advice on the Housing Bubble
With many people concerned about the housing market and fear based headlines, Tom echoes Byron and Nicole’s advice which is to be the knowledge broker. They break down this article from Inman News, and suggest that you use all the data from the MLS that isn’t being disclosed to the public, use KCM to pull stats to share with your clients, and set your clients up with Tomo to help them understand mortgage options available to them.
The bottom line: talk about it, ask questions and contrast data points. Be the agent who can talk about what is happening in your local market.
“The first rule of housing bubbles is you don’t talk about housing bubbles.”
Use the headlines to your advantage to connect with people who have fear and panic and share what is happening locally.
Increasing Housing Supply with Affordable Housing
Steering clear of politics, Byron looks for Tom’s reaction on the Biden Administration’s plan to increase housing supply with an affordable housing plan. Facts are: housing is unaffordable and we need more affordable housing. The question is, how informed should agents be on a national, state and local level surrounding both sides of this narrative.
Tom shares his tactic on digesting and recording each side of the argument as a way to allow clients to make informed decisions.
Digging deeper into how to pivot this conversation around clients, they explore the reasons behind the housing shortage and the markets being overrun by investors.
First Time for Two Marketeers
Lydia Gable is a lifetime marketer who is all in on Seller Seminars. She is a classic, relationship-based, geographic farmer, who is the educator and voice in her marketplace. This allowed Lydia to take that package and turn it into a value-packed wine and cheese happy hour where she brings all the information to potential sellers in the market and capitalizes on the network she is building.
Tom shares an added tip that Lydia uses during these seminars which is howmoneywalks.com. This illuminates where people in these specific neighborhoods are moving.
The second marketeer is the entire growth mastermind that Tom sat down with last week. They dug into Mega Open Houses and how they are BACK. These are events for neighbors that take place over lunch at the property. Seven days in advance you run your invite campaign with direct mail, emails, door knocking and banner ads to personally connect with the neighborhood. The catch is the QR code entry point to capture the guests’ information who attend the Open House. These guests are now part of your network and you can send customized personal messages about the level of services you provide.
The Real Word is brought to you every week by Tomo. Help your clients close their purchase loans on time. Tomo closes 98% of their loans on time, while the industry average is 40%.
