April is the month our industry remembers, celebrates, and recommits to Fair Housing.
Fair housing is more than a list of dos and don’ts, rights and penalties, and mandatory continuing education.
As stewards of the right to own, use and transfer private property, fair housing depends on a free, open market that embraces equal opportunity.
Join me in recognizing the significance of the Fair Housing Act and reconfirm a commitment to upholding fair housing law as well as a commitment to offering equal professional service to all in their search for real property.
The predictions of the real estate market have been about as accurate as the local weather forecast in areas without Doppler Radar.
Two headlines in real estate, really?!
Yes.
The summary? Solid demand with low inventory means fewer options for real estate buyers AND a tale of two markets.
In a recent WSJ article, Nicole Friedman wrote the United States is a country of two housing markets. In one, home prices are falling from a year ago. In the other, they’re still posting annual gains. That division runs right down the center of the U.S. She listed – with data from Black Knight – the top 10 markets with the largest price increases between February 2020 and January 2023:
Tampa up 59%
Miami up 53%
Austin, Texas, up 50%
Jacksonville up 50%
Charlotte up 49%
Atlanta up 49%
Nashville up 48%
Orlando up 48%
Raleigh up 47%
Phoenix up 47%
Nicole’s article points out that real estate markets are hyper-local and geography-specific. According to Michael Simonsen from Altos Research, we continue to see a seller’s market across the US. You can see the National numbers – on this link – and type in your own zip code for a local view.
In looking at this week’s Altos data, the top 10 markets with the most listings absorbed – it’s a Texas sweep:
Houston
San Antonio
Fort Worth (Does Fort Worth Ever Cross Your Mind?)
Austin
Dallas
Orlando
El Paso
Denver
Minneapolis
Lubbock (Buddy Holly and Mac Davis would like this)
I observed this week on a National basis another 1% drop in inventory for sale at a time when inventory is typically rising by 1% or more each week. This, in my view, is a leading indicator of a supply-constrained market for the Spring buying season. Many homeowners have a current mortgage rate below 4%, and many don’t want to sell their current rate and pay a higher rate for a different house.
Implication? It’s going to be a great time for remodeling contractors.
Many homeowners are also sitting on large cushions of equity, and the institutional investors show no sign of liquidating inventory, which is likely to prevent any big wave of foreclosures and distressed sales.
Inventory For Sale In The US. Source Altos Research for the week ending 4/2/23
In many markets across the US, housing demand is high enough for sellers to command pricing. In fact, the latest percentage of listed homes with a price decline dropped this week to 30.5% when just a month ago, it was nearly 40%. Investors and buyers who were sitting on the fence missed an opportunity back in November and December.
Listed Real Estate Properties With A Price Decrease. Source Altos Research for the week ending 4/2/23
In other news, according to Altos, the median price of a new listing his week rose to $437,500 across the US, while the median rent was $2,250. The headlines will be hard to interpret as some are comparing to last year’s unprecedented price increases. The data shows increasing prices on a National basis but not near the pace of last year. My view? The unprecedented rise in mortgage rates has softened demand but not enough to balance the market.
The solution? Building, renovation, and conversation of mall and unused office space for residential use. The issue, according to Nicole, is Home builders have been hampered by supply-chain issues and labor shortages. Yet, Jonathan Lanser, a real estate and business journalist for the Orange County Register, recently reported that new home builders gained 2.8% in market share. Yet is it enough? I say no. It seems to me from a National, Regional, and local City perspective, we need to address housing policy to place this vital sector of the US economy in a position to enable the American dream vs. destroying it.
25% of the year is over… it’s time for a quarterly business and operations review! Is it scheduled? I have a powerful 21 question business review – info@winningtheday.blog
Are you ahead, behind or on track with your goals? In any case “declare it perfect and move forward powerfully.”
Review what’s working, what’s not. Make the adjustments, and keep moving forward.
Basic agenda:
Mission, vision, values and stakeholders – any adjustments?
Key KPI’s
What’s working + What’s not
Start, start, more, less
Action steps (no more than 2)
The results will happen – as long as we are all willing to execute the daily activities, track the results, make the changes to the behaviors and engage an accountability partner.
Are you nterested or committed to what’s left of this year?
The problem with the traditional to-do list is that it’s about tasks and not about outcomes.
An outcome could be something like: “increase revenue by 25%” or “build a relationship with specific people.”
There is no single task that will cause the outcome. There is arguably a set of tasks that could build up to it.
Concrete, measurable outcomes are better than vague ones, but some highly desirable outcomes can only be qualitatively stated (like relationships) and cannot be quantified (like the number of appointments).
So for myself, I am working to get better at linking my daily tasks to the outcome via process goals. More importantly, I am also trying to nail down this art of defining the process that leads to the desired outcome.
For you, that might be 3 or more NEW appointments each week. So I’d rather see something like this:
Create 3 or more new appointments each week… then list the task to support that outcome.
Create 2 or more closings per month between now and the end of the year, and then list the associated process that will lead to appointments that will lead to signed agreements.
Deepen my relationship with 4 people… then list people and the process that will achieve that outcome
What are your key outcomes and associated processes for this week?
How often do you hear agents say they’re leaving for “greener pastures”? While sometimes a change might be genuinely beneficial, often the root cause lies elsewhere. In my experience, it’s not about who you are, but what you do—it’s about behavior.
I assume you, as a broker or team leader, have a defined niche, a clear vision of your ideal agent, and a compelling value proposition. And I’ve found that most brokers genuinely care about their associates’ growth and well-being. So, if these fundamentals are in place, why do agents leave? The answer often lies in their daily habits, consistent marketing efforts, and the ability to deliver a seamless client experience.
My business partner, Ben Hess of Recruiting Insight, explores the science of human motivation in his eBook on the “psychology of recruiting.” He highlights how our brains are wired for quick conclusions—a useful survival mechanism, but one that can sometimes lead to flawed judgments. What if, instead of guessing, you understood the science behind motivating your associates? This knowledge would empower you to implement effective retention strategies.
Several excellent books explore this topic, including Atomic Habits, The Miracle Morning, The Power of Habit, and Do Hard Things. These books point to key motivational drivers: daily habits, a sense of belonging, and instinct.
Let’s start with habits. As The Power of Habit and Atomic Habits explain, much of our daily activity is driven by unconscious habits, often formed without conscious awareness. Creating new habits requires breaking them down into small, manageable steps. In my work with Tom Ferry, we’ve identified common habit challenges for real estate agents: consistent marketing, regular prospecting, database management, effective time management, and maintaining a positive mindset.
What if you could effectively help your associates overcome these challenges? Take the common question: “Where are the listings?” In this market, we know where to look, thanks to David Knox’s 7 D’s: Death, Divorce, Diplomas, Diamonds (engagements), Downsizing (with 10,000 people turning 65 daily in the US), Daily Grind (job changes), and changes in Discretionary income.
The key is to translate this knowledge into actionable habits. Instead of simply telling agents to prospect, break it down into a system: “For success here, here’s how we do it.” A leading indicator of success is the number of new appointments created each day or week. Imagine the impact of a “90 New Appointment Hustle” within your team, office, or firm.
Beyond habits, a fundamental human need is a sense of belonging. As a broker, how would you rate your efforts in creating a culture of belonging? When associates feel valued, heard, and able to contribute, they’re more likely to stay. Consider these strategies:
Connect their work to a deeper meaning (e.g., every home sold creates two jobs).
Implement strategies to make people feel valued more often.
Foster a balance between collaboration and healthy competition.
Create spaces for sharing wins, challenges, and breakthroughs.
Connect the organization to a shared vision for the future.
Provide a steady and reasoned voice in all market conditions.
Develop a strategy to support struggling agents and connect them with thriving ones.
Finally, there’s instinct. According to Dr. Gary Klein, instinct is how we translate experience into judgment and action. You’ve likely experienced this yourself: “I had a feeling about it,” “That was my hunch,” or “I felt it in my gut.” Now it’s time to act on these insights. Just as with building habits, break down key indicators into simple, executable steps. The ideas in this article are only valuable with action. Some of our clients are running 14-day “How to Earn Listings in This Market” sprints, others are starting book clubs, and still others are hosting weekly “Pizza, Prospecting, and Profit” sessions.
To truly succeed, leave nothing to chance. By focusing on building positive habits and fostering a strong sense of belonging, you can significantly reduce the “it’s my broker’s fault” mindset and build a thriving, stable team. That is how we win the day!
Information is power, but in today’s world, we’re facing an unprecedented data deluge. According to Domo’s Data Never Sleeps 10.0 report, global data creation is exploding, projected to reach 181 zettabytes by 2025. Just consider the activity every minute: millions of Google searches, hundreds of hours of YouTube uploads, thousands of Instagram posts and tweets.
While access to information can fuel innovation, the sheer volume can be overwhelming. The key is focus and discernment. In a world of constant digital noise, the ability to filter out distractions and focus on what truly matters is more critical than ever. This means:
Prioritizing relevant information: Don’t try to consume everything. Focus on the data that directly impacts your goals.
Developing critical thinking skills: Learn to evaluate information sources and identify credible insights.
Creating boundaries: Limit your exposure to unnecessary information and create dedicated time for focused work.
In a world of data overload, focus is your superpower. And that is how you win the day.
Humans are underrated
* A zettabyte is a measure of storage capacity and is 2 to the 70th power bytes, also expressed as 1021 (1,000,000,000,000,000,000,000 bytes) or 1 sextillion bytes. One Zettabyte is approximately equal to a thousand Exabytes, a billion Terabytes, or a trillion Gigabytes. Do the math – old math or new math; that’s a lot of data.
Orville and Wilbur Wright didn’t wait for permission to invent the airplane. They didn’t have a pilot’s license, which wasn’t even invented yet! They had creativity, passion, and persistence—the very same qualities you need to achieve your own goals. What dream are you waiting to pursue? You don’t need anyone’s permission but your own. And that is how we win the day!
PS: Another one? Bowerman (Nike) invented the iconic “waffle sole” using his wife’s waffle iron!
