The deal is in the dial

We’ve been cold-calling for what feels like our whole lives. Seriously, we started at 15 years old, selling advertising, and we’ve been using this skill to sell the sizzle ever since. 

There’s so much we’ve learned over the years about making a successful cold call. That’s why we tackled this topic in our latest episode of our podcast Rise Above the Ranks.

If you want to learn how to find leads, build your business, and close deals over the phone, give it a listen! Then leave us a review and let us know what you think. 

– James and David

Blackstone shifts its strategy

Over the past year, Blackstone has been on a major single-family home buying spree in 76 markets across the country. But Blackstone-owned Home Partners of America, one of the biggest private landlords in the US, is now planning to halt single-family home purchases in 38 of those markets by the end of September. 

Here’s what you need to know:

• This strategic shift comes in response to home price appreciation and changing regulations and demand

• These 38 paused markets represent less than 5% of Blackstone’s recent buying activity

Our take

Blackstone and these Wall Street investors are strongly impacted by inflation. It’s no wonder they’re pausing some activity until inflation numbers start to improve. They approach real estate the way every investor should— they look for opportunities both when the market is up and when it’s down. They’re pulling back from some markets and focusing on others where they see more opportunity, but when activity in these smaller markets resumes, you can bet they’ll be back at it.

10 cities with the most active listings

The number of active listings nationwide is up 200% since February, the fastest growth pace in five years. There are several reasons for this change, including decreased interest from out-of-state buyers and investors selling their properties due to rising property taxes.

Realtor.com ranked the top 10 metros with the most active listings:

1. Panama City, FL

2. Lake Havasu City, AZ

3. Provo, UT

4. Reno, NV

5. Merced, CA

6. Lake Charles, LA

7. Coeur d'Alene, ID

8. Colorado Springs, CO

9. Medford, OR

10. Austin, TX

Our take

As the market transitions, inventory is going to matter more on a state-by-state level and less on a macro level. In cities that saw a large influx of buyers due to the pandemic, the correction is affecting those markets first, creating more inventory there instead of in larger markets like Los Angeles and New York City. 

Making housing more affordable

In Milwaukee, Act Housing (a real estate nonprofit) has a unique solution to the affordable housing shortage. They buy up starter homes before investors do. With the help of a $1M grant and additional donations, Act Housing purchases local homes in the $90,000 to $140,000 range, fixes them up, and resells them to homeowners enrolled in the nonprofit’s homebuyer education program. 90% of those buyers are low or middle income. This program has already helped over 3,000 local families afford homeownership. 

Our take

Anything that stimulates the real estate market and helps more people become homeowners is good for the industry. This program, and the nonprofit behind it, are leveraging technology and innovation to help so many people achieve their goal of homeownership. That’s amazing! It’s also good news for local agents because it keeps demand high at this price point. 

Schematics 

The news that just missed the cut

• See inside Conan O’Brien’s $16.5M beach home

• Chicago is reversing the price cut trend

• Why Zillow made Apartments.com change its advertising

• Check out Jeff Bezos $578 million real estate portfolio

• Most home inspectors focus on these eight things

• 5 signs a home is overpriced

• Why home renovations are slower (and pricier) than ever

Foundation Plans

Advice from James and David to win the day

Everything you want to get out of your real estate career is just on the other side of cold-calling. Seriously. Knowing how to follow up, build your leads, and open the door to a major deal, all through the phone, is one of the most powerful skills you can learn! 

• Bring your energy. People can sense your energy, mindset, and excitement through the phone. We call it “selling the sizzle.” Bring your best energy and passion to every call and people will buy what you’re selling. 

• Call with a goal in mind. Before you dial, know what you want to get out of the call. A listing appointment, a partnership, a referral, or whatever it may be. Call with a goal, and stick to it! 

• Expect the objections. You will get a lot of no’s. That’s just the reality of cold-calling. We recommend having a handful of responses prepared to the most common objections you hear everyday. That way the no’s don’t rattle you, and you’re always ready with a well-informed answer. 

Want more tips like these? Check out our new podcast Rise Above the Ranks, available on Apple and Spotify!

Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

🎧 Rise Above the Ranks

Get advice straight from the experts. In The Blueprint's new podcast, James & David address a key challenge facing real estate agents today and break down how to tackle it. In this week's episode, they're telling you everything you need to know to nail your cold calls.

Listen now → Apple | Spotify | YouTube

What do you need to know to scale your business going into the end of the year? Tell us! We can’t promise we have all the answers, but with a decade of experience under our belt, we’ve seen just about everything. 

Hit reply and tell us what you want to learn about next, in our podcast Rise Above the Ranks or right here in The Blueprint. We look forward to hearing from you.

In the meantime, have a fantastic week. 

-James and David

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