Every decision involves a trade-off. When you say “no” to one thing, you’re inherently saying “yes” to something else. In business, and in life, choices aren’t always black and white. More often than not, we’re faced with a spectrum of options: good, better, and best.

This isn’t about choosing between a positive and a negative outcome. It’s about discerning which option best aligns with your priorities and long-term goals. Every choice has a sacrifice, a trade-off of time, resources, or opportunities.

Consider these examples:

• Lead Generation: You could spend your time on cold calling (good), attending networking events (better), or developing a targeted online marketing campaign (best, if it aligns with your strategy). Each option has its own costs and benefits.
• Client Management: You could handle all administrative tasks yourself (good), hire a part-time assistant (better), or outsource certain tasks to a virtual assistant (best, if it frees up significant time for revenue-generating activities).
• Professional Development: You could read industry articles (good), attend a local workshop (better), or invest in a comprehensive coaching program (best, if it provides personalized guidance and support).

The ability to confidently say “no” to good opportunities so you can pursue the best ones is a crucial skill. It requires clarity, focus, and a deep understanding of your priorities.

The Benefits of Clear Decisions:

Making clear and confident decisions, whether “yes” or “no,” brings several advantages:

• Increased Focus: By eliminating distractions and focusing on your top priorities, you can maximize your productivity and achieve more meaningful results.
• Greater Efficiency: Clear decisions streamline your actions and prevent wasted time and effort.
• Reduced Stress: Indecision can lead to anxiety and overwhelm. Making clear choices reduces mental clutter and promotes a sense of control.
• Improved Momentum: Confident decisions create forward momentum and propel you toward your goals.

As you move forward, strive for clarity in your choices. Let your “no” be a firm “no,” and let your “yes” be a resounding “yes.” This intentional approach to decision-making will empower you to make choices that truly move you closer to your desired outcomes. And that is how we win the day!

The Shifting Landscape

Many of you have experienced a unique year. Your gross income has been a challenge, unit sales have seen a notable decline. This trend is starting to shift.

Back to Basics: A Timeless Approach

To navigate this changing market, we must return to fundamental principles. A crucial element is diversifying lead sources. Aim for at least four to six reliable channels to ensure a steady stream of potential clients. Additionally, our 90-day to recruiting stability plan and our “Real Estate Recruiting Playbook” offer structured approaches to maintain consistency and achieve success.

The Power of Responsiveness

A recent analysis of our top producers revealed a striking difference in responsiveness. These top performers were three times more likely to answer calls and return messages promptly compared to those struggling. This highlights the importance of timely communication in building trust and securing deals.

Good or great the choice for 2025 is yours and mine to make.

My acquaintance Lawrence Yun posted some stats about the next two years a while ago. I’ve updated those stats below. An interesting way to think about the next 24 months:

Think about it:

• New Beginnings:
  • Births: Approximately 3.6 million per year
  • Marriages: Around 3 million per year
• Life’s Transitions:
  • Divorces: About 1.5 million per year
  • Aging Population: 19,000 people turn 65 every day
  • Deaths: Approximately 2.8 million per year
• Economic Dynamics:
  • Job Growth: Potential for 4 million new jobs
  • Job Mobility: Over 25 million job switches

These demographic and economic trends will likely drive the following real estate shifts:

• Increased demand for family homes from new parents and growing families.
• Potential demand for smaller homes or rental properties as older adults downsize.
• Increased demand for senior living facilities and healthcare services.
• Job mobility and economic shifts will continue to influence housing demand.

What are your thoughts on how these trends will impact the real estate market in your specific region?

This month’s market update from KCM gives us the:

5 questions consumers are curious about:

• When Will Mortgage Rates Come Down?
• What Will It Take for Prices To Come Down?
• Will I Be Able To Find a Home If I Move?
• Will The Housing Market Pick Up Next Year?
• Is the Market Going To Crash?

No one expects you to have a crystal ball, yet your prospects expect a fact-based point of view.  The narrative below is intended for that purpose. (DM me for the slides)

The highlights?

• The census, Fannie Mae, MBA, NAHB, NAR project a 13% increase in home sales in 2025.
• On a typical day in October, 29.2% more homes were actively for sale than at the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.
• The Altos Reports –  linked below – show how this trend is driving a more “balanced market” with a slight seller advantage in many markets.
  • National
  • California
  • Texas
  • Florida
  • New York
• Mortgage rates? A study conducted by the Bright MLS indicated that 70% of buyers in the last year abandoned their search because of affordability. The folks over at Altos seem to suggest an infliction point when rates get to 6% and below.
  • The consensus of Fannie Mae, MBA, NAR, and Wells Fargo below 6 and near 5.5%
  • Remember – Bond Yields: Mortgage rates often track the yields on 10-year Treasury bonds.
  • When bond yields rise, mortgage rates tend to follow.
  • I have a white paper on “Mortgage Rates and Bond Yields.” If you are interested, send me a direct message.
• The National Debt? A challenge for lower mortgage rates.
• Consumer debt is at record levels, yet home equity is also at record levels.
• The implication?
  • Historic equity – and a shortage of supply –  indicates a crash is not likely.

So what should we expect in 2025?

1. More homes to sell next year – at least 13% more (consensus)
2. Mortgage rates to decline below an infliction point
3. Price appreciation to slow – a consensus projection of around 2.5%
4. The unknown – institutional investors are holding on to a significant portfolio of residential homes – when will other investments create higher returns and an inventory sell-off?

4 Steps to Crush the Rest of 2024 and Beyond:

The S.N.A.K. Framework

As we sprint toward the end of 2024 and gear up for a new year, it’s the perfect time to reassess our goals and strategies. Think about the S.N.A.K. framework to help you make the most of the remaining months and set yourself up for success in 2025.

Let’s break down each component:

S: Systems for Sustainable Success

• Create Effective Systems: Develop routines and habits that support your goals.
• Prioritize Tasks: Use time management techniques like the Eisenhower Matrix to focus on important tasks.
• Automate & Delegate When Possible: Utilize technology to streamline tasks and free up time.

N: Network Your Way to Success

• Build Relationships: Connect with people in your industry, attend networking events, and engage on social media.
• Leverage Your Network: Seek advice from your connections, referrals, and potential collaborations.
• Give Back: Help others in your network, as this can strengthen your relationships and open doors.

A: Accountability is Key

• Set Clear Goals: Define specific, measurable, achievable, relevant, and time-bound (SMART) goals.
• Track Your Progress:** Monitor your progress using calendars, planners, or project management software.
• Find an Accountability Partner: Share your goals with a friend or colleague who can keep you motivated and on track.

K: Knowledge is Power

• Continuous Learning: Dedicate time to learning new skills or deepening your expertise in your current field.
• Stay Updated: Keep abreast of industry trends and advancements.
• Seek Mentorship: Find experienced individuals who can guide you and offer valuable insights.

By implementing the S.N.A.K. framework, you can significantly boost your productivity, achieve your goals, and set yourself up for long-term success. Remember, consistency is key. Small, consistent steps can lead to significant results.

What are your thoughts on the S.N.A.K. framework? Share your experiences and tips.