Jennifer Love Hewitt turns 44, and Corbin Blue 34. The job market is booming. Inflation is falling. Yet, if you asked your neighbor, the news about eggs and housing might get in the way… is it a real estate seller’s market?
Sellers are hard to find…
Active inventory for sale fell 1.5% this week
Nearly 6% fewer homes went pending this week
Mortgage rates ticked up to nearly 6.3% from 6.1%
The percentage of listings that have executed a price cut has dropped nearly 24%
Bottom line: buyers have fewer choices
Check out the latest stats in your area – click here – and if you need a local area expert, I know a few around the country.
If information was enough, we would all be top performers in our profession, exercise every day, eat more vegetables, be within the government’s height and weight standards, and have a ton of money saved for the future.
Think about it: you can use Google or YouTube for the instruction manual for almost anything. You can access a step-by-step guide, the best practices, and the quick start guide. So, I have a straightforward question – with access to all this information and proven evidence – why do we still struggle with limiting beliefs and behaviors?
The answer? Our feelings outweigh our commitments. When our commitments outweigh our feelings, that’s when a breakthrough begins.
The five words that kill more dreams, more potential, and more happiness than any other five words spoken are:
“I don’t feel like it.”
I’m not sure of your dream, yet I suspect that for many of you, it’s more financial freedom, better health, stronger relationships, and more connectedness with your community. Yet let’s face it, so many times when you are about to start something toward those dreams, the onslaught of excuses flood your mind like water gushing out of a broken pipe. The theme of these excuses always traces back to the same root:
“I don’t feel like it.”
How often have you said, “I don’t feel like it?” How often have you listened to that thought, allowing it to alter the course of your actions? What has that cost you physically, financially, and emotionally?
What if you could make a different choice?
I know that “I don’t feel like it” is the universal human condition that silently kills dreams. Yet you and I don’t have to accept this dream killer, and we can overcome the feeling and move powerfully toward our goals and objectives. It starts with intention: the intention to live on your terms, not the terms of your moods and feelings.
When our commitments outweigh our feelings, that’s when a breakthrough begins.
Sports psychologist Bob Rotella, said “I tell people: If you don’t want to get into positive thinking, that’s OK. Just eliminate all the negative thoughts from your mind, and whatever is left will be just fine!”
Maxwell provides 6 steps to expanding our possibility thinking:
Resistance is like a Jedi mind trick. It’s not really there, but it feels like it is. And the more you think about it, the more powerful it becomes.
New goals are likely to fall apart before February ends. That’s according to data from Strava, a social network for athletes. The company analyzed more than 31.5 million fitness records from its users and found that our annual commitments start crumbling in the middle of January. Strava’s research only draws from its own user base, so it could be skewed, yet a frequently cited study from the Journal of Substance Abuse Treatment produced similar findings:
Only 55 percent of participants stuck to their resolutions for a full month.
Yet don’t let the data discourage you.
Resistance is normal. You’re likely to experience it at some level when trying to change, regardless of how positive your intended change is. Try not to fight resistance; instead – accept – that it will happen. By recognizing resistance and understanding why it happens, you can focus your energy on making positive changes stick for the long term.
And by spending a little time thinking about the potential obstacles, roadblocks, and impediments you may encounter during the change process, you can reduce your resistance levels and increase your chances of success — and overcome resistance.
“In the end, someone or something always gives up. Either you give up and quit, or the obstacle or failure gives up and makes way for your success to come through.” ~ Idowu Koyenikan
Step one is getting back in touch with the reason you started the change, resolution, goal, or process to begin with. Review these four questions:
What will happen if I do change?
What will happen if I don’t change?
What won’t happen if I change?
What won’t happen if I don’t change?
Step two, no judgments! Once you’ve identified the reason for your resistance (typically fear of something) – the root cause of your frustration – you can look for a way to meet the needs of your resistance while not allowing it to prevent achieving your goals. Like taking a 10-minute break, then returning back to the task – a pattern interrupt.
Step three is to act opposite to your feelings. Of course, if you don’t feel like making your sales calls, make them anyway!
Step four, take action. Let go of what you have no control over. Sometimes, becoming aware of your repetitive patterns – and making a new intention – is all that is required. But other times, a deeper dive is needed.
In the book A Course of Miracles, it is written there are only two emotions: love and fear. If you are in a place of resistance about something, look for the fear behind it and find a way to dissipate it. Find a way to embrace it and “love” it!
And finally, my friend and mentor Tom Ferry wrote about four “addictions” that kill more dreams than any other. In my view, they are all patterns of resistance that each of us can control and change if we choose:
The Addiction to the opinions of other people. As a society, we’re addicted to what others think about us and how others’ worldviews affect us.
The Addiction to drama. Some people are drawn to and consumed by any event or situation that occupies their thoughts and fills their minds with negativity, which often brings attention to them in unproductive ways.
The Addiction to the past. These people have an unhealthy attachment to events or situations that have occurred in the past and are stuck in how things used to be.
The Addiction to worry. This addiction is comprised of all the negative and self-defeating thoughts that make us anxious, disturbed, upset, and stressed that hold us back in life.
Resistance is not futile it’s a valuable learning tool. Use it to your advantage. Think breakdown to breakthrough!
“Obstacles are those frightful things you see when you take your eyes off your goal.”
~Henry Ford
Resistance is normal. What you do about it creates the future!
Consumers – your agents – will be loyal to brands that deliver what they need – dependability, service, exceptional service, or exceptional value.
When a brand consistently meets a need, it becomes a brand promise and the company’s identity. FedEx, for example, the brand promise is “when it absolutely positively has to be there overnight.” FedEx consistently delivers on its promise, which creates an influential association, bond of trust, and loyalty with consumers.
The financial stakes of a transaction have a proportional effect on brand loyalty. Consumers – your agents – have far less to lose by trying another brand of candy than they do another brand of a real estate. As a service-oriented business, you are the brand that you enhance and solidify each time you meet and exceed your client’s expectations. If you have locked in your clients’ trust (and their willingness to refer you) through brand loyalty, you have a massive advantage over your competition.
How do you achieve brand loyalty? Consistently deliver your brand promise and do it better than your competitors. Sporadic high performance will not cut it — every customer (your agents) must have the same great experience. Instead of chasing the next technology tool or widget, think about your service delivery.
Rate your service delivery on a scale of 1 (low) to 10 (high). What will it take to be a 10?
Knowing your agents and team leaders’ anxiety points is critical to achieving a strong brand promise. After all, consumers want brands that meet their needs, but not if the experience is painful.
Action – what action can you take?
Ask your agents and team leaders what worries them most about this market. Then let them know what you will do to address their concerns. That’s one solid way to build brand trust and loyalty.
#WinTheDay
PS: Looking to increase your real estate team or office recruiting game? Book a demo to find out how we can 5X your ROI.
Total Inventory For Sale In North Texas Dropped 5%
This blog was written for my North Texas audience, yet in the links below, you can check out the stats in your local area. The North Texas market consistently ranks as one of the top 5 real estate markets across the US.
Homebuyers are defying the real estate market in North Texas, and for real estate agents and brokers, this is a critical time to stay informed. For the week ending 2/10/2023, inventory for sale in the DFW MSA dropped nearly 5% while the median new list price remained flat. There is significantly more inventory for sale than we had just a year ago, and buyers are back in the market. The average days on the market range from 56 to 78 days, depending on the price range.
My view, along with the CEO of Altos Research, Michael Simonsen, is that buyers know if they buy now and rates drop, they can refinance in the future, or if rates tick up, they are in an excellent position.
On a national basis, we have record employment levels, and the North Texas area is expanding organically and with new businesses coming into the area. Thus, buyers can afford homes, and with the median rent in North Texas at nearly $2,300 per month, the rent vs. buy decision favors buying.
Looking at the current market as a demand-only equation could be a mistake. Before the pandemic period, a drop in inventory for sale in February was unusual, as historically, many sellers would list to get ahead of the spring market. Sellers are holding onto those 3% mortgages unless they have a compelling reason to move. Regardless, recently-listed properties with a price decrease have dropped from nearly 50% a month ago to 40% this month, indicating a strengthened market.
You can check out the DFW stats or your local city and zip; click here and if you can; participate in the Altos monthly webinar this Thursday, 2/16/2023, at noon central, register here. Topics will include:
– First signals of what Altos is seeing for 2023
– An update on home values and where this is likely headed
– What declining inventory means for the market
– The impact of interest rates and inflation
– How to talk to buyers and sellers about the data
Source: Altos Research DFW MSA for the week ending 2/10/2023
PS: Looking to increase your real estate team or office recruiting game? Book a demo to find out how we can 5X your ROI.
In a world brimming with uncertainty, it’s easy to let fear dictate our actions and confine us within the walls of the familiar. But what if we could replace that fear with something far more powerful?
What if we could harness the transformative power of curiosity?
This isn’t just about asking questions; it’s about cultivating a mindset that thrives on exploration and learning. Let’s delve into the ten habits of curious people.
10. A Love Affair with Learning
At the heart of curiosity lies a deep love for learning. It’s a romance that never fades, a relationship that grows stronger with every new discovery.
9. Self-Motivation: The Inner Flame
Curious individuals are driven by an internal desire to grow. They don’t need external rewards to fuel their quest for knowledge; their passion is self-sustaining.
8. Dedicating Time to Wonder
Curiosity requires investment. It’s about setting aside moments in our busy lives to ponder, to explore, and to satisfy our innate desire to know more.
7. The Courage to Admit Ignorance
There is strength in admitting “I don’t know.” It’s the first step in a quest for knowledge, an invitation for others to share their wisdom, and a sign of a mind that is always ready to learn.
6. Living in the Now
Curiosity anchors us in the present moment. It encourages us to notice the details, to fully engage with our environment, and to appreciate the richness of our current experience.
5. Empathy: The Heart of Curiosity
To be curious is to connect with others on a deeper level. It’s about understanding their experiences, emotions, and motivations. This natural empathy builds bridges between people and ideas.
4. Welcoming the Possibility of Being Wrong
There is a certain humility in acknowledging that we don’t have all the answers. Curious minds are open to being wrong because each mistake is a lesson in disguise, a steppingstone toward the truth.
3. The Endless Fascination with Life
For the perpetually curious, boredom is a foreign concept. They find wonder in the mundane and see the extraordinary in the ordinary. Life is a never-ending novel, and each day turns a fresh page filled with potential stories.
2. Listening Without Prejudice
To truly listen is to silence one’s own biases and judgments. It’s about giving space to different perspectives and soaking in new ideas like a sponge. Curious souls listen not to reply but to understand, and in doing so, they often find unexpected insights.
1. The Relentless Pursuit of Questions
Curious individuals understand that every question is a doorway to a new realm of knowledge. They are not deterred by the sheer volume of the unknown but are instead energized by the thrill of discovery. They ask “Why?” and “How?” and “What if?” with the persistence of a detective on the trail of a mystery.
Looking Forward: The Power of “What If?” and “Why Not?”
As we look to the future, curious people often play the game of “What if?” and “Why Not?” They envision where they want to be in 1, 5, or 10 years and align their actions with their vision. They challenge their goals and assumptions, ensuring that their path is not just comfortable but truly fulfilling.
Curiosity is not just a habit; it’s a way of life. It’s the antidote to fear, the spark of innovation, and the key to personal growth. So, let’s ask ourselves:
Are we nurturing our curiosity?
Are we doing things that support our vision?
The answers might just lead us to a life of endless wonder and discovery.
The top 1% are lifelong learners, and curious. Millennials are leading the way in continuous learning.
Learn more, earn more.
In a world of rapid change and increasing complexity, the winners will be those who can keep their L>C. That is, the learning rate must be greater than the rate of change and greater than the rate of their competition.
“Ancora Imparo.” This translates to: I am still learning. ~ Michelangelo
