Show Notes

Episode Highlights: 

  • Drew Carpenter has been with the Keri Shull Team for four years.
  • He emphasizes the importance of keeping public health as the main focus of your business at this time.
  • Myth #1: Real estate has come to a grinding halt.
  • This is not true. The Keri Shull Team did twelve deals in one day last week. 
  • Myth #2: The stock market is bad, and thus the real estate market is bad.
  • Buyers are unsure about locking in interest rates. Speak with your lender frequently.
  • Drew hasn’t seen any slowdown on the buying side.
  • Myth #3: The Fed rate equals the mortgage rate.
  • This is not true. The Fed rate may affect commercial loans, but not so much mortgage loans.
  • Lenders have been overwhelmed by the changes in interest rates. When they've raised rates, it's all about pipeline control.
  • In the big picture, these rates are still historically low.
  • Myth #4: I can’t see homes.
  • You can show homes virtually. This can require more legwork upfront.
  • Respect the level of uncertainty everyone may be dealing with.
  • Let buyers know that if they see something immediately about the street, location, or exterior that they don't like, they don't have to proceed with the showing.
  • Myth #5: I should wait it out.
  • If you have a client that does want to wait it out, don't push them. It won't be good for your business.
  • People who want to buy are still going to go out and purchase.
  • Anyone who is ready to go, and is in a good financial position, can keep searching during this time.
  • If you're uncomfortable, this is a good time to narrow your search and work on your financial position.
  • If you're selling, you know the people who are out searching for homes right now are very serious.
  • Keep the people in process.
  • Use this time to reach out to your past clients and your sphere.
  • Make more contact and more content.
  • Drew is letting people on social media know that he's available for virtual tours.
  • Adapt. Learn how to use Zoom or webinar platforms. Leveraging technology through this time could help you both now and later.
  • Focus on your mindset.
  • Get up, get your mind right, and start getting work done.
  • Any time the market shifts, the people that can adapt and overcome will get ahead and stay ahead.

3 Key Points:

1.   There are many myths out there about what’s happening with the real estate market right now. Educate yourself and your clients.

2.   You can adapt to changing circumstances. Offer online tours and familiarize yourself with online tools for meetings and webinars.

3.   Now is the time to reach out to your contacts and make more content.

Tweetable Quotes:

  • “As long as you're keeping the public health interest primary and that's the main focus of your real estate business you will persevere and come out better on the other end of this.” – Drew Carpenter
  • “If you are actively looking in the market, become your lender's best friend.” – Drew Carpenter
  • “The best thing you can do is not push someone to do something they don't want to do." – Drew Carpenter
  • “Driving brand during this period is going to be crucial.” – Dan Lesniak
  • “I think it's the time to have a strong mindset. I think it's the time to produce more.” – Dan Lesniak

Resources Mentioned:

Drew Carpenter bio, LinkedIn, Facebook