We’re off with a bang!

2024 is truly starting off on a strong note. As you’ll see in our first story, we’re already seeing some very solid numbers in the housing market. 

While people are hungry to buy homes, we all know clients don’t want just any home, they want their dream home. That’s what makes our job so special. It is literally our role to help make dreams come true.

Unfortunately, we don’t have a magic lamp and a genie, so we have to really dig into the details and work to make that dream a reality.

In today’s Foundation Plans down below, we offer a few helpful steps on what you can do to play dreammaker for your clients. We’ve had many sales in this business, and we can honestly say–when you can help a client find the home they’ve been dreaming about their entire lives, it’s one of the most rewarding experiences in the world.

So, let’s keep rolling into 2024 and rolling into today’s Blueprint..

– James and David

At the start of 2024, there is an uptick in demand as mortgage payments fall and more homes hit the market. That’s the main conclusion from Redfin’s first market update for the year. Here are the other key points:

• New listings rose 9% year-over-year

• The total number of active listings is down 2.9% YoY but that’s the smallest decline since June.

• Total mortgage application volume rose 9.9% week-to-week

• Total mortgage applications rose 3% month-to-month

• Applications to refinance a home loan jumped 19% from the previous week and were 30% higher than the same week one year ago.

Whether you're a new agent or a seasoned veteran, it’s important to fully understand your client's expectations. Today, we’re going to focus on four common and important expectations from your buyer clients. This will help you come in prepared to handle (almost) any question they throw your way.

Know every listing in your market cold – Clients expect you to be well-versed in the local market, beyond just new listings. Familiarize yourself with square footage, room counts, and property details for every home in the area. Your clients are likely looking at listings daily. Don’t let them know more than you. Whether you work with buyers or sellers, analyze the MLS hot sheet daily to stay current on new listings, properties sold, price points, and reductions. By dedicating 10-15 minutes a day to this process, you'll be well-prepared to answer clients' inquiries about the market.

Know how much your client can afford – Even if they don’t go into detail about their finances, buyers will expect you to know exactly what’s in their price range. Make sure they are working with a reputable lender and that they understand how changing mortgage rates affect their monthly payments. Above all, make sure they have a realistic outlook on all the costs that come with homeownership. 

Know your client’s dream home – Buyers have must-haves, needs, and wants. As agents, we want to deliver on as many of those desires as possible. Ask specific questions to understand their preferences and motivations, and see where they can bend a little. For instance, if they need four bedrooms for a home office, would a three-bedroom option work? Would another type of room work for an office? Do they really need to work at home? Addressing their 'whys' narrows down their options and brings them closer to their dream home.

Know how to negotiate –  While your clients might not be aware of all the behind-the-scenes work, they know negotiating is a crucial part of your role. Whether it's the sale price or home inspection, ensure you have the skills to benefit your client. Stay connected with fellow agents to learn effective strategies in the current market. Continuously educate yourself, practice negotiation skills, and watch your business thrive. We strongly recommend that you role-play with your mentors and trusted agent-confidantes. 

This is just the tip of the iceberg. We’ll be sharing much more throughout the year, but reach out to us if you have any specific questions.

For Blueprint subscribers, the course is 30% for a limited time. If you’d like to take our course to learn how to become the top 1% of your market click here!

That’s a wrap on this edition of The Blueprint and our first week in 2024!

Each day is a gift and a new opportunity to lead the life you want and to become the person you want to be. The mistakes and missteps you’ve made in the past don’t define you. Live as intentionally as you can and be ruthlessly focused on the goals you’ve set out to achieve.

We say this to you at the end of every week because we firmly believe it. We hope you internalize it and apply it to your life. You can do it!

Thanks for reading, and we’ll see you back here on Friday!

– James and David