Are you moving forward with data or are you stuck when faced with the question, “How’s the market?”
The March 10th episode of This Week in Housing covers the latest data on housing rates and inventory data.
I was joined by David Childers from Keeping Current Matters to give you a powerful insight on housing data and provide you actionable steps to communicate it with your community!
Don’t get stuck on the information and start guiding your clients through the data so they can make the best decision and fall in love with their next home.
Listen now to discover how you can move the needle and start creating impact with your community through powerful data!
For the majority of my life, I’ve been passionate and dedicated about changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
Keep up with me and what's new on my other channels:
Website - https://TomFerry.com
Facebook - https://facebook.com/TomFerry
Instagram - https://instagram.com/TomFerry
Twitter - https://twitter.com/TomFerry
Podcast - https://TomFerry.com/Podcast
YouTube - https://youtube.com/CoachTomFerry
The March 10th episode of This Week in Housing covers the latest data on housing rates and inventory data.
I was joined by David Childers from Keeping Current Matters to give you a powerful insight on housing data and provide you actionable steps to communicate it with your community!
Don’t get stuck on the information and start guiding your clients through the data so they can make the best decision and fall in love with their next home.
Listen now to discover how you can move the needle and start creating impact with your community through powerful data!
For the majority of my life, I’ve been passionate and dedicated about changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
Keep up with me and what's new on my other channels:
Website - https://TomFerry.com
Facebook - https://facebook.com/TomFerry
Instagram - https://instagram.com/TomFerry
Twitter - https://twitter.com/TomFerry
Podcast - https://TomFerry.com/Podcast
YouTube - https://youtube.com/CoachTomFerry
Hey everybody on facebook or wherever you're, seeing this uh podcast or youtube facebook. Wherever welcome to this week in housing, it's tom ferry with my extraordinary guest, my co-host, i should really say not guest david childers from keeping current matters, we've got an action-packed show today. There's no doubt if you're watching this right now you're listening this. You know that there is movement in the interest rate market that is freaking some people out.
There's also, i don't know what it is david it just. Maybe it's you know one year into the pandemic and everybody's gotten normalized, at least to a certain extent in that side of their life. So now we're watching home price appreciation go through the roof and everybody's saying the same thing: omg it's 2005 again we're going to go over a cliff, so we're going to discuss all of that and more. But while we're waiting just as everybody's just jumping on uh, you know i want to say to everybody just all my friends out there i'm on this kick right now, and certainly you watch my content.
So you know i'm non-stop saying to people there's a so david. Get this a trifurcation in residential, real estate, a group of people couldn't sell a home if their life depended on it right. The numbers that i saw from real data solutions said, let's call it 40 of the agents in the u.s have not closed a transaction this year. Wow.
The next group is the group that i'm actually concerned about, and that's the group that i refer to as the stuck group they're selling houses, but they're stuck they're out of time. They don't have enough inventory. They haven't figured out what the third group has done, which is they've scaled themselves, they've scaled through tech through marketing, better communication content, let david what you and your team are providing becoming the expert being the sort of the truth in the marketplace and yes, they've scaled. They built teams so there's three types of agents right now and i guess it really comes down to this before we jump into the show optimized or minimized, because that's what's going to happen right.
I remember back in 2015, david with uh steve, your partner right, mr harney, on stage with me at the summit - and i said real estate's going to come down to the rich and the rest and the rich are all building teams and teams are going to totally Dominate the real estate universe, so for all my friends out there watching, i hope, you're paying attention because there's kingdoms and queendoms, if you will being built everywhere all over the u.s canada, europe, australia it just it is what it is. But that's not why we're on the show we want to talk about housing. I just wanted to give you some thoughts because i needed to just plant those seeds in your head that you are brilliant. You are powerful.
You are supported. You are loved, now, stop being stuck and scale yourself, just like david has done with kcm good morning, david how's it going good morning good morning, it's going well, it's uh, it's good to be back and doing this you know well, here's what was in my mind As you were saying that, please, you know all the year the past year we've done this week in housing. Talking about being the the knowledge broker, all the things you're talking about is there's light at the end of the the tunnel. You know right now we got a little bit more tunnel to get through, but uh, but there's definitely light at the end of the tunnel, and i think the the difference right now are the agents that are setting themselves apart figuring out a way when some agents Go there isn't a way. Uh are the ones that are winning that and that goes back to scaling scaling your brand scaling your reach scaling your trust, sms email, marketing, direct mail, billboards smoke signals it doesn't make a difference. You got to get the word out. So david, a lot of people are concerned about interest rates right. I've had agents ping me and say who, in their right mind would sell their home at a 2.6 interest rate to buy another home at a 3.3 or 3.5.
Maybe at the end of the year um i know we're going to cover a little of this, but we just kind of just speak to that. Just for a minute i mean the rates aren't there, but i wouldn't be shocked. Everyone said they're going to be. You know early threes by the end of the year, so how do we prep our listeners to be ready for that? Well, you know, i think this first of all, let's let's talk about where we're at right now, if tom, we would have been talking two years ago that we would be on a live today, talking about rates are going up and the average 30-year fixed is right.
Over three percent right, don't worry about it, don't you i mean imagine that scenario and that's where yes, the average 30-year fixed as measured by freddie mac last thursday, at 3.02 percent and rates are going up and no doubt as the economy improves rates are going to Continue to go up that is going to is going to happen now, i'm not here today and you know, i think anybody tells you they know exactly. What's going to happen, we don't have a crystal ball, that's not it, but what i would be saying is if, if you're thinking about buying uh now is the time no doubt - and i understand all the things that go into that and all the challenges that people Are having with that, but if you bought in in the you have a cousin or a brother or whatever it is that you know bought in december or january. They got a better rate than you as it stands right now. That's it literally.
I just had this conversation with my assistant, you know, parroting, you ready she's, like my interest rate, is 2.4 percent yeah 2.4 she's like and i said, uh, i believe the kcm guy said people will brag about their interest rate for the next 20 years. But do you think, do you think a 3 or a 3 2 is going gon na? Stop that person that's refined like do you really think that's gon na stop the person who's having a family and having more kids and needs more space? What are your thoughts? No, what no? No people don't fall in love with an interest rate. They fall in love with a home. Oh my god, please, please say that again, it's the truth. People don't fall in love with an interest rate. They fall in love with a home and what makes them fall in love with a home. A life change a circumstance, something happening. They say you know the biggest and we talked about this uh.
You know a couple months ago, i think, in january the gift of 2020 that we may have missed, that we're not talking about is the value of home, mm-hmm yeah, uh renee, funk. If you're out there listening uh, we were on a clubhouse session together and david. She she coined this brilliant question. She said, i think the key right now is to ask every consumer every friend every past client, this question: how has covid the last year of a pandemic changed the way you feel and view your home.
Think about that question. For everybody out there, that's listening right now that, if you're looking for a post, if you're looking for a surveymonkey email to your entire database, that would be the question, because the word cloud that would come out of that right would give you more content and more Things to talk about for the next three four five six months than you could even imagine, but really quick david. I know we want to talk about home price appreciation, but i want to say everybody out there. First of all, thank you.
If you just jumped on, we got a lot of people out there watching live is always it would mean the world to me. If you would tag two or three friends that you believe need to see, this message introduce into what we're doing, how we're doing it. Maybe it's people on your team that you want to watch this, especially if you've got sales agents that are managing the buy side and if you've got a listing division. Both those are going to be covered today very important and if you know a naysayer, a doubter, a hater that says the whole world's about to fall apart.
Let's bury them with some nice data. So if you're watching this right now - and you are that person - we say that in a loving way, we want to bury you with different data to help maybe ease some of your suffering so tag a friend or two. And if you really like this content, make sure you share it, that always means a lot to us so uh and david. Where did they get the slides? Try kcm forward slash tom ferry, i'm sure somebody will put it in the comments there.
These slides that we're going to share today have been uploaded to that site. You can download them use them. However, you want uh and get this message out. There love it love it.
So i'm seeing a bunch of people jumping in what's up coach, doug hannon in the house, rockstar timmy spears right, adam good, to see you mercedes all right! So let's talk home price appreciation because there's a lot to discover and a lot to unpack in this and, of course the fear and the worry which we'll also discuss does all this home price appreciation mean we're about to fall off a cliff again so david. I turned over you: let's look at the deck yeah, let's, let's go into this and talk about this and kind of going back to what you said before two things that are being said right now: uh relatively, let's start, maybe with interest rates because low interest rates Have driven prices right, people coming into the market saying we're gon na buy a home now two things that are being said right now by experts. Interest rates are going to continue to rise and i don't think anybody's calling for astronomical rise, but they're going to continue to rise, and you know what else i don't see. Experts saying that that's going to squelch demand right now, so be careful in the rising interest rate. How much of that gets into your head and you think interest rates are rising, nobody's going to want to buy a home. This is going to end. You know. However, it's going to end - that's that's just not the case, but when we start to look at what these low interest rates have done, we we're at a time in the year where we get the final home appreciation numbers uh.
You can see them here. I don't think it's going to be a surprise for anyone, but fhfa, saying homes appreciated last year: 10.8 percent corelogic 9.2 percent case shiller 10.4. So let's call that you know 10 appreciation uh in residential real estate last year, a lot of appreciation, a lot of people. You know talking um about, can we sustain this what's happening there, but no doubt um.
You know the things that have driven that that we know came out of 2020 have caused homes to rise in value in a significant amount, and i think um. Let me use a quote here from the fhfa that i think really underscores why homes have appreciated like they have lynn fischer, says: house prices nationwide recorded the largest annual and quarterly increase in the history of the fhfa home price index. Why low mortgage rates pent up demand from home buyers in a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago, despite the pandemic? So i want to say it again. Despite the pandemic yeah fight, the pandemic is, is such a key phrase.
There we've talked about low mortgage rates, everybody's saying we need something different. The value of home pent up demand, uh in in limited supply, is what's driven prices. This way, you know one of the things that the kcm research team has been working hard on is okay, let's start to look at what's happening in the market, to give you effective ways to explain what's happening, uh with home prices in in the next graphic, i'm Going to share really speaks to the limited housing supply, and this is a look at single-family housing units completed going all the way back to the 70s wow. There's new construction uh every year what's completed and what stands out to you? For 13, straight years, we've been below the 50-year average in home builds in this country. How do we bring new inventory to market or extra inventory markets through new construction, and we can see there that we haven't met uh the need that we've historically had no by the way uh? The real story here is housing units are not keeping up with population growth right right. You know mindful and watch for the headlines a lot of talk in the administration about how do we bring supply into the market, affordable, housing into the market? Because it's just not there uh in a in a large degree of the price appreciation is simple economics, and you can even see here in the red bars four consecutive years back in you know: 0.405.06 uh, where you know more homes were built than ever before. There were three years in this country, tom, that more than a million and a half homes were built in this country. The only three years that ever happened were 0.405 and 06.
inventory was increasing, price was increasing and we know what happened in the housing crash and for the last 13 years, builders have not put out the number of homes that they've needed to to maintain population growth. Literally, do we see, do we see any positive signals? I mean even with you know, biden's proposed legislation around like he really wants to be aggressive with first-time homebuyers, whether it's tax credits and again none of this is you know, legit yet, but it's they're in discussion about it, i mean i, i would foresee things like Condo conversions coming back large apartment buildings being converted over low cost. I see i'm in the great state of texas, i see land in the south. I see land in the northeast.
I mean, i think, we're going to continue to see it, but are you seeing any positive signals that would help our clients be a better educator around this slide for new construction? Well, you know i've. Always we've always taken the position. We're not going to comment on pending legislation until it's passed and 100. You know, i think, the everything pending that i've heard or suggestions that i've heard have been demand, related suggestions, first-time homebuyer, tax credit.
You know things like that that are going to cause more people to want to buy homes, and we want that to happen. I think what you're going to see is a shift in the conversation to to to realize that, with rising home prices, the gap there is is the supply. So we have to address the supply right and that's where i think we're going to shift, and i think your point in there are areas in this country where there are um. You know there is land to be able to build and there's area where there's not uh and you're gon na see populations start to to migrate to those areas where literally there's area, you know to build um homes that are affordable on just about every market. The challenge is on the lower end of the market uh, where they're just affordable options for people to go out and buy. You know you hear these stories uh of all across the country when a home goes on the market. It's on the lower end, just the the unbelievable number of of offers they get the the amount it goes for over a list price, and that's that's going to be the challenge that i think the administration is going to have to to address is how do they? Uh, you know build favorable legislation to help increase the supply, and we know coming into the year too uh the permits and starts are way up, so we will build more homes this year, uh than we have in the past easily to say the past 13 years. So i want to say two things to all my clients out there.
Once again, you know we need to think strategically. I go back to one of my clients and friends, jim allen, in in sort of the raleigh, the you know the triangle of north carolina. He is fanatical about knowing your market so well that you literally know every home on a lot that doesn't or isn't properly optimized so they're out there scouring for older homes that they could by themselves right not put on the market or buy the home. With a builder, who can take that and put it into two houses, three houses, four houses, and he said i'm blown away by how many there still are - and here we are in the raleigh durham.
You know like in that triangle. That david is just real estate. Is just going like this and they buy them every single day, and i would challenge all of you to be looking at whether it's remind uh. You know inside of your mls or any other data solution, to start looking at that as a viable solution to find more inventory.
The second thing i was just on the um, a zoom session, with one of my clients she's now going through three to four year old, expired listings three to four year old, expired listings and taking listings daily. This is a woman. Her name is her name is carolyn young re max agent in maryland, she's blown away by reaching out those people and saying hey. I know you tried to put your home on the market.
You know three years ago for x amount of dollars um. What? If i told you today, i could get you x plus 25, 000 plus 30, 000 plus 40 000, and you know what those of us that are being resourceful are winning. So i'm asking you to think maybe outside of the box, think about the properties that are. You know, like i think, zone one zone two like for for me in california.
We would look at these properties in the village and be like wait a minute. That's an old beater house where you put two magnificent or three magnificent properties and you're in the game: lots of ways for you to be of assistance here, my friends but david. Let's talk about the uh, the year-over-year inventory, speaking of which is a nice segue. There isn't any homes for sale, yeah, and i think this you know you, you shared a map yesterday. This is a the the most current iteration of that out of out of february of you know: what's happened with inventory across the country um and you just see all the dark red there down 45 to 60 percent year-over-year uh in housing inventory across the country. So i think this is the part. You know that we use this information to educate clients about the dire need not only for inventory but those those buying the the reality of where we're at and what's going on, and certainly bringing local market data and local market insights into that. Uh are going to be key.
Look at that arizona, utah idaho i mean it's just bonkers or even new. You know new hampshire, which is so ridiculously low and by the way everybody watching there with with new york, you could probably say uh that could be the boroughs, sure yeah very, very different environment but uh, but new york city is back. It is it is. I think i shared with this has probably been three or four weeks ago.
Now we did a webinar for the long island board of realtors, and i can tell you this. The boroughs in new york city are very much back, they've got inventory and people are going. Maybe now is the time to to move into uh the city. You know those that wanted to and couldn't for for whatever reason or timing.
So there are some. There are some bright spots across the country, no doubt so so david. Every time we talk about how good things are. Someone out there is like when it's good the whole world's gon na fall apart, yep right, murphy's law.
Is it one of those? You know? One of those kind of things like maybe dating myself, something that i heard a million years ago. Every time someone tells you the world's falling apart. I want to remind you of the best question ever that i got from my friends at kcm. Can you please send me the data you're looking at? Can you please send me the charts, the graphs, the information, the articles that you're looking at, because i want to understand, seek first to understand before you bury them with good data? So, let's talk about it.
I mean: are we? Are we going down this slippery slope again so before i answer that question, the quick answer is that is, is i don't believe so? No we're not now, if i'm a consumer today and i see everywhere, there's no inventory home prices are going through the roof. The fed just said home mortgage debts over 10 trillion dollars. I see people paying more for homes than what they're listed for i'm concerned. I think that's a valid concern.
It is okay, so so, let's, let's start from there in seeking to understand first of all, is saying: that's, that's not a it's not like you hear that from somebody you think wow, that's where they come up with that. There's a lot of reasons they've been informed to believe that now, let's take our business, here's the way this question comes out to me and i've talked with a lot of agents about this, and you know. Last year we talked about why this isn't 2008. All over again, you know i last april i went on a walk with my wife and she said i want to go on a walk with you, but i don't want to talk about why it's not 2008. All over again, we were talking so much about that. Right right, but some agents are going. I i understand that, but maybe it's 2006., maybe it's the it's the run-up to a crash. So again the kcm research team stays all over this and i want to give you some perspective on uh the differences in the market.
Today versus where um, where we're at, let me get in here and share this sorry about that. So, while you're doing that david, i want to ask all of our listeners out there. Um have you had conversations with people that think it's? 2006. It's 2007.! It's gon na be 2008..
Have you had those conversations? Is it been one? Has it been multiple give us just some feedback, because i'm i'm hearing that david, like i'm hearing the who, in the right mind's, going to buy a house for a 3.3 mortgage? And so you know we're working on these objections, we're working on conditions and ways to educate and be a better negotiator, but um. You know i want to see it in the comments like what are you all hearing and then david? Let's go right to the deck right yeah, so let me give you a price comparison in the years leading up to 2006 to today, so this uh is a price comparison on home price appreciation between 2002 through five on the left there in the red to the Four years leading up to today on the right - and you see the average annual appreciation just over 10 percent - then the average annual appreciation today 6.3. No doubt in 2020, we've had significant appreciation. Uh in you know, according to corelogic 9.2 percent, we saw the others like.
Let's call it 10 we're right there, but we saw back in the the housing crisis year over year. What we would call back, then you know runaway appreciation right in the housing market. Now there are some other things that that are very interesting about this dynamic that that aren't just told in this picture, but just keep this in mind, much more appreciation back then, on average than what we're seeing today. What else was true back then? Oh by the way the market was inflated due to the number of loan products, the ability to qualify.
We say it was. It was easier not to qualify for a mortgage back then than it was to qualify. Anybody that wanted to obtain financing could - and you see back in in the 0.40506 time frame the product risk that was in the market, the borrower risk in the market. Well, today, product risk has been eliminated, the negams, the pick-a-pays, the intro. You know all the products that caused the issues that we had back then are gone and lending standards have significantly. You know the pendulum has swung to the other side. So we can, we can say demand today is real and back then it was fake. It was inflated at best.
This is a big big key and we're not even where the urban institute who produced this report would say, are at reasonable lending standards. A reasonable lending standard would have a little borrower risk a little product or a little proc risk, more borrower risk and - and today, where we stand from a lending standard standpoint, it's very very different in the market that we're in david. I i'm just sitting here thinking if i was watching this show right now and i was an agent. I would literally take this video and say to my videographer cut that little segment out i'm gon na talk about it.
I'm gon na show the slide and then david's going to give me the data right like this. This is one of those messages. Again, it's you know, truth is truth. Is truth is truth, the numbers are, the numbers.
Are the numbers you see what's going on here? My friends, the borrower risk is, is, i don't want to say it's, maybe at an all-time low, but going back from 1999 that we've showed this over and over again, then yeah, absolutely right how much equity they have in their homes today and how powerful. That is that we didn't make those mistakes that we made in 2005. 6 7. When we were taking money out, not we you and i, but many were taking money out of their properties and they were going out and buying even more properties.
They were buying new mercedes or they were leveraging themselves to the hilt. I would argue that that the vast majority of people living in the us learn the lesson: they're no longer licking their wounds, but they're they've learned the lesson: that's what they haven't forgotten. That's the big piece they haven't forgotten, you know back, then people were buying homes, tom, you know, thinking who cares what we pay for, because in six hours it's going to be worth 50 000? More especially if it was new construction and it wasn't going to be done for a year. Well, you remember that people were flipping deals at the closing table.
You know if you got in a year earlier and you closed it. They'd flip it at the closing table and and make the arbitrage there different market that we're in today, and - and i would add this to it - so we saw much more appreciation back then we know lending standards how they've changed. The other dynamic of the market is back in 2004, five, six and seven inventory was increasing right. We talked about new construction, bringing builders were bringing you know, a lot of product to market, so here's the dynamic prices are going up, inventories going up and everybody can get a loan right.
That is a recipe for that's a recipe for disaster, say wow, and in hindsight we know how that ended up what's true today, there's not enough inventory, it's much harder, significantly harder to qualify for a loan, oh by the way. In the meantime, the qualified mortgage comes out and they say you have to demonstrate an ability to repay. So you have to be qualified to go borrow this money and home prices are going up. It's a supply and demand economic issue that no doubt is driven by market fundamentals versus there was a term coin back then irrational exuberance, yeah people were like we're in. Where do we sign? How many can we buy and we're ready to go? Yep yeah very, very different. Well, let's look at let's look at that quote from mark fleming's. I think this really drives it home as well. It sums this up and mark fleming chief economist at first american.
He says during the housing bubble. Rapid house price appreciation was not supported by economic fundamentals. What we just talked about, but in today's housing market, nominal house of price price appreciation, has been driven by a historic shortage of supply relative to demand and rate driven surge and house buying power. Many find it hard to believe that housing is actually undervalued in most markets and the gap between house buying power and sale prices indicate there's room for further house price growth in the months to come.
That's the affordability, uh topic, you know and again uh. We can validate that from nar the the percent of median income needed to purchase a median priced home significantly lower today, due to rising wages and uh in lower rates than what it was back in 2006. So we know that affordability is there now, let's not confuse affordable housing with housing, affordability. There are two separate issues.
Yes, housing, affordability is the money the dollar will buy, affordable housing is, do we have enough on the you know, in the lower end, for people to you know to purchase, which is is a deficit across the country, but but you know when you start to take A deeper look and going back to the question you asked me very, very different market, none of the indications relative to a bubble anywhere near what we saw back in in 2008. So david, i mean just there's so much going through my head right now. I want to say to all my friends out there that are watching um again the trifurcation of the market agents that aren't going to sell houses, we're not we're not razzing them. Some of them are licensed real estate brokers and that's not their game anymore.
Right. Some are members of nar and they're they're, more a council member right, so it's it doesn't mean that 40 of people just aren't out there doing deals and they can't just maybe that's not their bag, but that other group is either stuck or scaling and one of The obvious categories is, i don't have enough marketing, i don't have enough firepower to attract the number of listings that i want someone in your marketplace. Right now is getting listings every single day. There is a team. There is a bunch of individuals that just seem to have listing attraction down, and the question is: what are they doing that you're? Not what are they doing that you're, not um, all of you. I don't think i've ever done this on this week in housing, but i'm gon na take i'm gon na take a moment here and say to you: uh if you've not gone to tomferry.com and looked it up our level up series there's a whole series of like High intensity three hour to six hour, trainings on listing attraction, listing skills to win the listing at the right price, with the right terms, etc. Marketing to attract more listings we're you know. We basically took every seminar we were doing last year and we threw them in the trash and said start over what are the most important issues.
Let's just focus on that high impact very low cost level up series at tomferry.com absolutely check it out. My friends very important, um david. We only have one last slide and it's a it's another powerful quote, but i'm just sitting here. Thinking in your mind, what is the best - and this is gon na - be a random question for you probably, i might have to ask somebody on the marketing team, but you know i know you always have a good answer and opinion.
What have you seen is the best thing that agents are doing today with the kcm blog content. What are the best, like the basics, the best practices hands down, they're, taking the blog and they're recording a video on it, yeah hands down yeah. We we wrote a blog um two weeks ago. The number one thing that every seller has in this market: that they're missing is leverage yep, taking the blogs, the infographics and making a video.
You know there's something interesting and i told bill harney, the ceo of keeping current matters this just a couple weeks ago and thomas i'd give you the credit in driving this in the real estate market when we crossed over january 1 this year, the number of agents That have stepped into video has been noticeable in indeed, and everything out there big time it's taking this content and making a video it's taking what i just talked about and making a video yeah and and and doing it in whatever form fashion you feel comfortable with It, but when i see that it's the agents that are making a difference, they're making a way where other people are going, i don't know how we're going to do it. I don't see any options. There's no inventory! I can't do anything right. I would, i would argue, for everybody out there, if not video than what so i can't say the name of the gentleman i just spoke to, but i'll i'll tell you he's, had a meteoric rise in the last five years.
So david he's he's, he's probably a client of yours, i'll text you later um, we'll just call matt matt and i did a zoom session this morning. So last year he did 1100 transactions right. He and a team of about 25. He has big visions to scale up the size of his business and what was sent to him like well matt, like how can i help he's like well, you know we kind of know a bunch of the same people and he's like the truth is. I need help scaling. I need help hiring leaders he's like, but you know what i really want to do. I got to get my social media to be in alignment with the vision i have for my business to help ease if you will top middle bottom of the funnel conversion and i'm like totally get it right. So we spent you know 20 30 minutes just talking about video shooting one show grabbing kcm's content and literally reading the content.
This is remember: dave robles in l.a, he'd, go hey guys, he's got his phone in his hand and he's doing this. Okay, so uh uh kushi says, and he just reads the quote, and it blew up stop overthinking. If not video. What are you gon na do? How are you gon na be competitive in a world where now 81 of the consumers make their decisions when they're hiring somebody using a service or buying a product based on video, absolutely yeah, take it taking the post, taking the content, taking it from everywhere, making videos And being the source of that information? No doubt all right! Well, let's uh, let's wrap this up david.
We covered a lot of ground very quickly, uh. Let's wrap this up with sort of final final thoughts from your perspective for everybody out there between now and the time we see him again in two weeks, know tom, i um here's. My final thought i'm going to share, so i've got a different slide that i i've been working on a few things this morning with our team - and you know even this week is - is uh it's a week a year ago that we didn't know what was in Front of us right um, and i think there are some benefits to that too. You know uh in you know not overthinking.
Can you imagine if, if we would have known everything in front of us what we how we would have responded right but um? You know when i i think about this week in housing. I think about what you've done, to pull keeping current matters in educate agents, to figure out a way where they're. You know a lot of a lot of people that reached out to us, and i know reached out to you said i don't know how i'm going to make it forward, and you made that clear. I pulled a quote that i want to.
I want to bring up that. We used um on the 13th of march last year from housing wire, and it says this it just it just struck me this morning. It says a year from today when the economy is likely recovering when we have a coronavirus vaccine we're making our way back as a society. Ask yourself this question when reflecting on these unprecedented times that we're in did i do enough? Did you do everything you could to reach your neighbors and be a positive resource to them? That was from a housing wire article that was from the 13th of march uh this past year and tom? You know when i read that this morning, one i wanted to share it with you and tell you all the hard work that you and your team tristan who's sitting there. Everybody did did enough everybody on this call. I know you have taken these slides you've taken this information, you've gotten it out and a lot of times. People say you're wrong. This, that's not what's going to happen, but you did enough yeah more than enough to lead lead.
Clients lead our business through the hardest year. A lot of us maybe have had and uh and just know from from our team, for you tom, for everybody on this call, how extremely grateful we are for you. Well, i i got ta tell you when you put that slide up, i got very emotional instantly because i remember that slide and uh. Listen for all my friends out there.
We all did enough and we're gon na continue to do a lot, and you know from myself and my team. You know so much love and appreciation and respect for everybody out there and david for you and the team at kcm. That's why this partnership makes a lot of sense. So so thank you and, for my friends out there listen keep up the good work, keep moving forward, powerfully right, optimized or minimized.
That's the choice. This is all about you being your best self and helping as many people as you can with the right data to be the educator in your local marketplace. All right, my friends, we're out we'll see you in two weeks david. Thank you again.
Try kcm.com forward slash tom ferry somewhere inside there to grab all the slides start, shooting those videos get to work. My friends we're out you.
Great content, lots of value here. Thanks!!
When is the next TWIH? You said two weeks. Did I miss one?
Where are the slides so we can share?
With all of these new home that are being built- who is talking about implementing new urbanism in these new communities?
love this!
Great video! I have been doing videos since the early days in the pandemic, and posting them on Facebook YouTube Instagram LinkedIn and Twitter. Almost a year later I did not get a single transaction from it. I realized you have to prospect and follow up, those are still the most important. Videos helps, but do not replace hard work. It might even give you a false sense of accomplishment that you’ve done a lot of work. KCM have been most accurate and great source for my video content. Thank you for all you do!
What is the link to the slides?
Great content!
Nice work ✨🎇🎆
Amazing content. This is exactly what I will pitch to my prospects this week. Brilliant!
You always bring great content Tom. You are an Amazing teacher.. All I need to do now is implement & executed. Lord help me!! 🙏🏼
I don't know why so many hesitate at selling their investments at the top of the market and moving that paper money into their retirements. I'm calling it the best time to downsize ever!
Tom and Dave, thank you so much for your collaboration on these regular housing updates! Tom, you are really serving agents like me by bringing in Dave Childers and the Keeping Current Matters team to present a very usable and encouraging regular market update series. The sessions are always a great combination of your inspiration and enthusiasm, and Dave's deep grasp of the numbers and how to interpret what they mean so agents can turn and serve our tribes. Thank you, both!
Good stuff
I honestly think this is the perfect time to buy a home … people have limited mindset and are in scare city at the moment, but I see a home as an asset that right now you can get with low interest rates . Perfect time ! Inflation will affect renters so much if they don’t make a wise decision right now.