Defy Gravity
I am generally an upbeat forward looking person, but from time to time I can get dragged down by negative talk. Lately there seems to continue to be negative news and conversations about rising rates and a declining market. Too much of that can begin to get in your head. If you’re not careful, gravity can begin to drag you down.
Ironically, challenging times should fire you up! Challenging times are when the best players don’t just survive, they find a way to grow and thrive. I know it sounds counterintuitive, but even Warren Buffet follows this philosophy: "When everyone is fearful, be greedy; when everyone is greedy, be fearful." While others are afraid, uncertain or retreating its your time to defy gravity, grow and thrive.
While the NMBA's (National Mortgage Bankers Association) theme for 2024 is to ‘survive until 2025’, I believe a better theme would be to strive to thrive through ‘25.
How to defy the market gravity:
Stop saying the market sucks... You can’t believe how much what you say creates your reality
Be the positive force in the market and you will attract people and volume- get out and talk to people they need your positive energy. Have lunch and coffee with as many agents as you can. Many agents are down in the dumps and could use the energy and most loan officers are hiding in the corner waiting for 2021 to come back. 🙂
Stop saying rates suck… Instead say “the market has shifted and record low interest rates are not the norm. But I still have strategies to help get your clients rates in the mid 6’s which is still a historically good rate.”
Seek out positive fuel daily- fill your bucket so you can fill others
Be a positive influence and coach others through it. Coaching others will not only make you better, it will boomerang right back to you
Solve their problems- focus on solving your agents and buyers struggles and you will attract more business than you will be able handle
Stay focused on your non-negotiable sales activities
Zig when they Zag- don’t follow the masses, don’t do the same things you were doing in 2021. Shake it up, go the other way and do things differently to set yourself apart from the bunch.
Strive to thrive through ‘25!
Notes that Resonated
Today God is teaching you what you need to know for where he wants you to go
Even if the path you’re going doesn’t work, he will
The presence of blessings, does not mean the absence of pressure
The key to spotting a diamond in the rough is not how bright it shines but how it responds to heat and pressure -Adam Grant
What was your ceiling will become your floor
“Fear and Doubt can only be removed by action”
Which of your current habits is least aligned with the type of person you hope to become?
You can only control your decisions not your results. Focus on making better decisions and the results will come.
Get comfortable being uncomfortable- “If you’re comfortable, you’re doing it wrong” - Ted Lasso
Thin skin leads to thick skulls
Be direct in what you say but thoughtful in how you deliver it.
Darkness is necessary to see the stars
Things to read
Hidden Potential by Adam Grant
This book should be read by parents, leaders, teachers, coaches, and anyone who wants to grow or help others grow.
Real Estate
Verdict against NAR
https://www.cbsnews.com/news/nar-lawsuit-verdict-real-estate-agent-commissions/
This week’s verdict on realtor commissions is the first of many ripples in the industry. This is potentially the beginning of realtors’ equivalent of the Dodd Frank act for mortgage. There is a lot of speculation for what will happen next. Below are some speculations in the industry:
NAR could be put in a tough financial situation with multiple additional class action lawsuits still pending. Questions of long term solvency are being raised.
NAR could win an appeal and never pay a dime
The DOJ could get back involved order NAR (beyond what it has done before) to adjust its practices or reduce its commission structure
Life could go on with limited disruption and realtors just adding a few additional disclosers and adjustments to who is going to pay the borrower commissions
Buyer commission could be a thing of the past and either listing agents will have to show properties or buyers will be required to pay for their own representation
Articles to form your own opinion:
MLS lawsuit Q&A: https://www.justice.gov/opa/press-release/file/1338606/download
NAR Q&A: https://www.nar.realtor/breaking-news/update-in-case-of-burnett-v-nar-et-al
Housing wire opinion: https://www.housingwire.com/articles/opinion-real-estate-is-already-changing-despite-commission-lawsuit-outcome/
Top Quotes
For each headache you face, ask yourself, "Is this mostly real or mostly imagined?" Solve the real problems, release the imaginary ones." - James Clear
Exerting more effort doesn't help if you're on the wrong trajectory. Working harder on the wrong thing just wastes more time. - James clear
“If you’re comfortable, you’re doing it wrong” - Ted Lasso
To hit your target, you have to be willing to miss -Adam Grant
Things to Discover
Pistachio Primosale Cheese- one of my new favorites… lightly salty creamy and delicious
https://yummybazaar.com/blogs/blog/a-guide-to-primo-sale-cheese
Food & Drink
Thanksgiving is coming and these mini pumpkin cheesecakes make a great signature dish 🙂
Pumpkin cheesecake