Real Estate in the News

Today we put on our news anchor hats, shuffled our papers on the desk, and dove into what's actually happening in the real estate industry — and what the public is hearing about it.

Fair warning: this episode airing on December 18 also doubles as a gentle reminder to turn off the news for the holidays.

Here's what we cover in this episode:

- The greatest hits of real estate doom and gloom headlines — from the 1880s, 1929, the 1940s, 1970s, and 1980 — because mortgage rates "hitting record highs" and "prices beginning to collapse" is not a new headline - The headline from November 8, 2023 that said "mortgage rates plunge" — and what actually happened - Why consumers read the headlines but don't click the article — and how that affects what they think is happening - How to answer the "how's the market?" question from relatives at Thanksgiving like a professional instead of a worry-wart - Why being connected to your lender is the best way to stay current on financial news - The importance of knowing your local market stats vs. national headlines - Google Trends for real estate in November 2023: "what does contingent mean in real estate" was up 120%, and "real estate agent commission" and "real estate commission lawsuit" were breakout searches - A Sitzer Burnett verdict update: NAR and the defendants lost, the award was $1.8 billion (to be trebled to $5.4 billion), spread across 500,000 homeowners — about $7,500 per person - What came after the verdict: copycat lawsuits, the NAR CEO going into early retirement, a new interim CEO from the Chicago Sun-Times, and Tracy Casper as NAR president - The Batton II lawsuit — what it is, which 35 states it covers (Louisiana is notably not one of them), why it matters, and why the scope is exponentially larger than Sitzer Burnett - What "indirect purchaser states" means and why some states aren't included - More lawsuits filed the day the verdict came down — against the big brokerages not included in the first case - Why we are not a news outlet and won't be doing minute-by-minute updates — but why you need to know enough to speak confidently with clients - Why the most important thing you can do is continue to show your value and operate professionally - The human brain's capacity to carry all the world's news at once — and why sometimes you just have to zoom out - The actor strike analogy: Realtors know what's happening in their industry; most people outside of it don't, and that's okay - Why Katy turned off the news in 2020 and let Jay be her filter - With an election year coming — this is a great time to protect your peace - The buyer brokerage agreement cover letter: hustlehumblypodcast.com/bba

Free resource: Buyer Brokerage Agreement Cover Letter — hustlehumblypodcast.com/bba

Toast of the week goes to Stevie Earls in Hoover, Alabama, toasted by mentor Layton Horlock. Stevie has become such a great agent in her first year that she's even taught Layton things and made her a better agent and person. Cheers to Stevie!

Want to toast someone on the show? Email [email protected].

Leave us a review at http://ratethispodcast.com/hustlehumbly

Get your FREE Database Template: http://hustlehumblypodcast.com/starthere

Email Templates 101: http://emailtemplates101.com

Agent Systems 101: http://agentsystems101.com

All Resources: http://hustlehumblypodcast.com

Music: Straight A's by Connor Price → https://connorprice.shop/ The Good Life by Summer Kennedy → https://soundcloud.com/summerkennedy/the-good-life Be The One by Matrika → https://uppbeat.io/t/matrika/be-the-one