On this episode, I will discuss how you need avoid "the noise" that occurs during a shifting market and how to create the action needed to set up your business for a productive Q3 and Q4 2022 and build momentum going into 2023.

There is no doubt that you've started to see the signs of a shifting market. In Chicago it's not been as obvious as in other parts of the country because we were somewhat late to the party. Some markets have seen a 75%-100% increase in prices over the last year and buyers in those markets are starting to "sit it out" and will wait for a more normalized market. These markets I'm talking about are resort and second home markets. In primary home markets, there is still a lot of demand and velocity. With home prices and rental prices both increasing in primary markets, there is no good exit strategy out of the housing market for those buyers. Either way, the shift has started in 2nd home and resort markets will make it to other markets in the next 6-12 months. In a way, this is actually good news. For top, skilled brokers, we need a more efficient market to allow for transactions for all of our clients. A better flow of inventory allows for "right sizing" buyers to enter the fray who can't or won't pay cash and waive all contingencies. With all of this being said, I cannot remember a better time to educate and set expectations with your clients. You need to stay ahead of the narrative. The media, in needs of "clicks" are going to be pounding the drum of the pending doom for the housing market. So this is how the "noise" is generated. Advertisers pay networks and media outlets when someone pays or clicks on their ad or an article that hosts their ad. My favorite: "Surging Interest Rates push mortgage demand down more than 40% from a year ago" (CNBC, April 6, 2022). This headline disregarded the fact that most of that mortgage demand was with refinances and that an increasing amount of purchase transactions were cash. The 40% implied wrongly that the housing market was struggling. Not true. Jameson is up 36% in volume year over year.