The other side of our business

In this newsletter, most of our reports focus on the financial side of our business. In fact, today, we discuss how falling mortgage rates are affecting buyers, and why certain months are better for listings than others.

But our second story is different.

We discuss an interesting survey conducted by Clever Real Estate. They asked sellers to name the biggest fears they have about selling their homes. 

Agents can use info like this to their advantage. The more we understand about our clients, the more we can help them through their real estate journey, address any fears or concerns they might have, and hopefully help them overcome them. 

While it may not be “financial” info, it doesn’t make it any less valuable.

With that, let’s get on with today’s Blueprint!

– James and David

Falling mortgage rates are attracting buyers

The Freddie Mac rate for a 30-year mortgage dropped by 13 basis points this week from 6.76% to 6.63%, the lowest point since December. Meanwhile, mortgage-purchase applications rose 9% week-over-week and are up 2% year-over-year, according to Redfin’s latest market update. Here are the other key takeaways from the March update:

• Redfin Homebuyer Demand Index (seasonally adjusted) is up 3% month-over-month, but down 3% year-over-year. 

• Tour activity is up 25% from the start of the year. Last year, it was up only 24% at this same time.

• Google searches for “home for sale” are up over 20% month-over-month, but unchanged year-over-year. 

• New listings are up 2.4% YOY

• Active listings are up 9.8% YOY

• While pending sales are down 6.4% YOY nationally, there were six major U.S. metros that saw increases:

  • Los Angeles, CA: +8.5%

  • Anaheim, CA: +6.3%

  • Phoenix, AZ: +3%

  • Riverside, CA: +1.3%

  • Columbus, OH: +1.1%

  • Sacramento, CA: +0.4%

Our take

As you can see, the market is being pulled in multiple and conflicting directions. National pending home sales are down, but home purchase applications are up. We know this can cause tension for agents, and especially clients when they’re making listing or purchase decisions. All we can do is give our most informed best advice. We don’t know how long mortgage rates are going to continue their decline, so buyers must act quickly to capitalize on these current opportunities. They’re in a strong negotiating position right now and shouldn’t wait to act.

Top 10 seller fears

88% of homeowners have fears about selling their homes in 2025, with 63% pointing to high mortgage rates as a top reason to stay put. That’s Clever Real Estate’s topline takeaway after surveying 1000 American homeowners. 

Here are the Top 10 fears, anxieties, and concerns sellers have about listing their homes:

1. The stress of selling

2. The cost of selling

3. Not being able to afford a different home

4. Not selling for enough

5. The emotional toll of leaving

6. Declining market conditions

7. Offers falling through

8. Negotiating with buyers

9. No interest from buyers for my home

10. Not timing the sale with the purchase of a new home

Our take

Use this intel to refine your listing pitch. If you're working with homeowners who are unsure about selling, understanding their concerns is key to easing them. Stay composed, project confidence, and communicate with authority. This comes from anticipating their fears and objections and practicing your responses. For each concern, have a crisp, concise answer ready. The more prepared you are, the more trust you’ll build, making it easier to turn hesitant homeowners into committed sellers.

The best months to list a property

Homes listed in the second half of May 2024 sold for an average of 1.6% more than those listed at other times of the year, according to Zillow's analysis of last year’s home sales. For a typical home sale, that translates to an extra $5,600. Their report shows that the ideal listing period varies by location — in San Diego and Austin, the best time to list can be as early as mid-March, while in Phoenix, it can extend as late as November.

Here are the markets best listed during March and April, along with the average dollar boost on a typical home:

Our take

In real estate, not only is location crucial, but so is timing, and this report truly backs that up. It reveals that the right timing, strategic marketing, and highlighting the right features of a property can significantly boost a seller’s profit. Share this info with your clients and help position them for the best possible results. This is truly how you can separate yourself as an agent.

The news that just missed the cut

• How to brand yourself as a luxury agent.

• How to find out if someone died in your home!

• What percentage of your monthly income should go to a mortgage?  

• New guidelines to share with your clients on buying a home in our current market

• Bad habits great real estate agents avoid

Foundation Plans

Advice from James and David to win the day

As we mentioned in our last edition, there isn’t a single trait that guarantees an agent’s success. Instead, success comes from building a strong repertoire of skills. Today, we’d like to highlight a few more key skills that agents should hone, especially in these particularly uncertain times.

Negotiation Skills – Once you have a prospect on the phone, do you know how to get an appointment with that person before the end of your phone call? Or if you have a client, do you know how to negotiate the best deal for them as a buyer or seller? Negotiating is knowing when and how to ask for something. Among other things, it involves educating your client, reframing their anxiety as excitement, and anchoring the discussion with a draft agreement. Don’t fret if you don’t have all of these things. These skills can be learned and honed through practice. 

Active Listening – To be successful, agents need to “hear” what their client wants. To do that, you need to be an active listener. That means listening without taking a position or making judgments, letting your clients finish their thoughts without interruption, using eye contact and body language to show that your attention is focused on them, and having the ability to repeat what you heard to confirm that you understood. Lastly, don’t just “hear” through their words. Pay attention to what is not being said and your client’s body language. Most communication is non-verbal.

Trust and Integrity – Trust is earned by backing your words with your actions. When you say you’re going to deliver a market survey, deliver it on time. When discussing prices, make sure you can back them up with comps. Always be upfront and honest with your clients, especially when you have to share news they don’t want to hear. This will only help your reputation, and in building a business, that is the most important asset of them all.

If you want to learn more, we encourage you to try our training program, Estate Elite. We genuinely believe there is nothing else like it on the market. We guarantee that you’ll learn so many valuable skills to help you boost your business!

Just in Case

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

“A lot of people say they want to be great, but they’re not willing to make the sacrifices necessary to achieve greatness. They have other concerns, whether important or not, and they spread themselves out.” – Kobe Bryant

Ruthlessly stay focused on your goals, friends. To be great at anything, you must choose. You can’t spread yourself too thin. Eliminate all distractions, focus on what’s important, and delegate the rest.

– James and David