Byron Lazine, Lisa Chinatti, and Tom Toole discuss their predictions on the Fed meeting, higher for longer mortgage rates, and the RE/MAX and Anywhere settlements before treating the BAM Camp audience to some objection handling role-play and a live Q&A.
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Timestamps:
00:00–01:30 Intro
01:30 Predictions on what the Fed will do (FOMC meeting) and impact on the housing market
05:33 Rising fall-through rate for home purchases
06:51 The theme is higher for longer for interest rates
09:02 RE/Max & Anywhere settlements and the impact on the industry
16:33 Objection handling role-play: Tom as objection handler and Byron and Lisa as sellers
17:43 Buyer agent compensation and leveling the playing field
19:00 Lisa’s first question (as a seller) to Tom: “Tell me about your experience.”
19:49 Byron’s objection: “...What experience do you have here?”
20:53 Articulating the advantage of working with you versus the [average agent / FSBO] option
21:51 “What are you going to charge in order to do this?”
22:41 “I don’t know if it’s the right decision for me to give up this rate…”
24:55 “If we did decide to sell with you, how would you price the property?”
30:27 Whoever asks the most questions controls the conversation.
31:49 It is an at-bat business (working Fri-Sat-Sun) for the next 12 months.
33:35 Q&A: “What do you predict for the interest rate next year?”
37:24 “Do you think the cuts will be larger than the hikes?”
39:26 “Do you see fewer agents and more double-sided deals going forward?”
41:29 “Agents should be thinking like builders right now…”
43:56 What should knowledge brokers be doing right now—and the mindset to have
48:55 Just as important as the wins are the losses.
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/
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