Byron Lazine and Tom Toole discuss the latest FOMC meeting minutes, rising mortgage rates and falling inventory (again), the housing market’s loss of $2.3 trillion in home values, Fannie Mae’s revised forecast for 2023, and the best business plan for real estate agents in 2023.

Use the discount code BAM23 for Virtudesk to hire your first virtual assistant today and save $250 on the start-up fee: https://bit.ly/Virtudesk-BAM

Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1

Join the 5AM Call: https://5amcall.com/

Timestamps:

00:00–00:52 Intro

00:52 FOMC meeting minutes

02:55 A bumpy road for the housing market–with downward pressure on home prices

08:34 The data suggests the best time to be a home seller is Q1

09:02 The data also suggests Q4 as the best time to be a home buyer

18:41 A script every agent should use and why

21:51 No one ever moves to time the market.

23:38 Redfin’s report on home value loss of $2.3 trillion

27:04 Fannie Mae revised forecast for 2023

29:09 Business plan for 2023: Spend 80% of your time having conversations

32:15 How do you do this: Hire a virtual assistant!

Show Resources:

https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20230201.pdf

https://www.housingwire.com/articles/housing-market-tracker-mortgage-rates-spike-as-inventory-falls/

https://fortune.com/2023/02/22/housing-market-correction-home-prices-decline-real-estate-2-3-trillion-dollars/

https://www.inman.com/2023/02/22/modest-recession-could-put-a-lid-on-2023-home-sales-fannie-mae/

—-------

BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers.

Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka.

Subscribe to BAM Newsletter: http://eepurl.com/hZU-Vn

Check out BAM: https://nowbam.com/

—----

Connect with Byron Lazine: https://www.instagram.com/byronlazine

Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/

#realestatepodcast #realestateagent #housingnews