“Our doubts are traitors, and make us lose the good we oft might win, by fearing to attempt.” – William Shakespeare

These words, penned centuries ago by William Shakespeare, still resonate deeply today. They capture the essence of how fear and doubt can paralyze us, preventing us from pursuing our goals and achieving our full potential.

Fast forward over 300 years, and Dale Carnegie echoed a similar sentiment:

“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit around and think about it. Go out and get busy doing it.”

Both Shakespeare and Carnegie, though separated by centuries, understood a fundamental truth: action is the antidote to fear. While doubt and inaction breed more doubt and fear, taking action—even small steps—cultivates confidence and courage.

Why is this so important?

In today’s fast-paced world, it’s easy to get caught up in analysis paralysis. We overthink, we worry about what might go wrong, and we ultimately fail to take action. This inaction only amplifies our fears and makes it even harder to move forward.

How can we apply this wisdom to our lives and businesses?

Here are a few practical strategies:

• Identify Your Fears: What are the specific fears that are holding you back? Are you afraid of failure, rejection, or the unknown? Naming your fears is the first step to overcoming them.
• Break It Down: If a task or goal feels overwhelming, break it down into smaller, more manageable steps. This makes it less daunting and easier to get started.
• Take the First Step: Don’t wait for the perfect moment or for all your doubts to disappear. Take the first step, no matter how small. Once you start moving, momentum will build.
• Focus on the Process, Not the Outcome: Instead of fixating on the end result, focus on the actions you can take today. This helps reduce anxiety and keeps you moving forward.
• Celebrate Small Wins: Acknowledge and celebrate your progress, no matter how small. This reinforces positive behavior and builds confidence.

Example:

Let’s say you’re a real estate agent who’s afraid of making cold calls. Instead of avoiding it altogether, you could:

• Identify the Fear: “I’m afraid of rejection.”
• Break It Down: Start by practicing your script with a friend or colleague. Then, make just a few calls each day.
• Take the First Step: Make one call today.
• Focus on the Process: Focus on delivering your message clearly and professionally, rather than fixating on whether or not you get a lead.
• Celebrate Small Wins: Celebrate each call you make, regardless of the outcome.

By consistently taking action, you can chip away at your fears and build the confidence and courage you need to achieve your goals. Don’t let your doubts be traitors. Embrace the power of action and unlock your full potential.

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?