YesTalk-223 - Top 5 Opportunities for Realtors Today

Welcome to Kevin Ward's Yes Talk for Realtors. This is Kevin Ward. I have a very special video today where I'm going to talk about what is happening in the real estate market. What is going to happen in the real estate market and where are the top five opportunities for real estate agents now in the end of 2020 as I'm recording this video and going into 2021 and even beyond that, where are the best opportunities coming now when I'm talking about the best opportunities, where's the best opportunities for you to make money, for you to find transactions and get deals? So to give you a little framework of this first, if you like the video, make sure you give it a thumbs up and that you comment if you have any questions and thoughts and subscribe to the channel if it is your first time here. First consideration is sellers are the magic. If you want to win in real estate, it is purely about finding motivated sellers. Buyers are great, but buyers come for free when you have great listings. And the way you get great listings is finding motivated sellers and inspiring them to hire you and then listing their properties and selling them. And buyers come for free. So when it comes to lead generation, all of that I'm talking about is lead generation strategies for finding the best motivated sellers. And also to tell you at the end of the video, I'm going to give you a special offer for something I've never given before called the Agent Power Pack. I'll tell you about that in just a moment. But first let's talk about where are the best opportunities for realtors right now. Now, before I get to the top five, I'm going to give you first the coming soon great opportunity for real estate agents. So coming soon, where is the big opportunity going to be for real estate agents who want to go out and make a lot of money? And this is going to be in 2021. Okay, in 21, the big opportunity is going to be homeowners who are coming out of their forbearance on their mortgage. Coming out of mortgage forbearance. We're back, starting back with, with the coronavirus lockdown back in the spring of this year, 2020, coming into the spring of 2021, that 12 months of forbearance. I started out with the original six months, but so many of the people extended that because you got an almost an automatic extension if you were had forbearance. And we're talking millions and millions of homeowners in America whose mortgages right now are in forbearance. And the Number of serious delinquencies on mort astronomical. Now there's been extremely low inventory which has kept the market hopping and kept prices going up throughout the last several months. But as you move into 2021, when all this 12 months of mortgage forbearance hits the end, you're going to have tons of people who are going to be going like, okay, we're going to have to do something. Either you got to start making your house payment again or you're selling. Now, let's say that 50% of the millions of people that are in forbearance are going to be able to make their payments and continue to pay, pay them for their mortgage and keep their home. Great. Awesome for them. But there's going to be a lot of people that simply aren't. And all of those people, my friend, are going to be selling their houses. Now a lot of them will be going into default because they aren't able to make payments. So you have a lot of people with notices of defaults. However, early on, unless we start seeing a major housing collapse, price in prices start really dropping. If we have a ton of inventory come on the market, the good news is for them, they still have equity. Most of them are still going to have equity. So for you, that's great because you're going to be able to do a regular standard sale. And when you know how to do it, this is going to be one of the hottest things in 2021 and possibly beyond that. But this is coming soon. Right now there is very few opportunities here because these people aren't making their mortgage payments. There's no reason for them to sell right now. They're not going to move during the holidays. They're going to wait until the spring. At the end of that 12 months coming up in April, May of 2021, everything is going to start changing in the housing market because you're going to see a ton of this inventory start coming to market now. They're calling this right now the zombie foreclosures. It is a shadow inventory of homes that are going to be selling that are not having to sell right now. Number five of the top five opportunities for realtors right now, number five are non owner occupied homes. Where are the best places to find sellers, motivated sellers and listings right now and going into 2021, number five are non owner occupied homes. I'm talking about several different types of non owner occupied homes. First is vacation homes, people that have bought second or third homes and they bought them through the economic expansion and a lot of these people. And there's going to be a theme here. A lot of these people are baby boomers. They are empty nesters. They are now in their late 50s, 60s and 70s and they've enjoyed the good years, they've enjoyed the good economy, they've enjoy price is appreciating on their homes and they look around and go like okay, we're at the top of the housing market, it's time to get out. And they are going to be selling. Now there's been a lot of people in 2020 buying vacation homes. Who is that's people that have made a lot of money and this has been one of those situations where a lot of people are making less money. The economy is has a lot of the economy is in the toilet and people that are unemployed, people that are underemployed making less money. But there's others that have continued to make money with the stimulus and all that. They've done fairly well and they've still kept buying stuff with the low interest rates and all of that. However, a lot and lot of people are and are going to be selling their second and third homes or they live in the city. They're going to be selling their primary residence in the city and moving out permanently to their vacation home or to their secondary home that is going to become their retirement home. But if you find these owners, whether they're selling this property or they're selling the property back in town, there's still great opportunities for business. Another type of non owner occupied home are vacation rentals Airbnbs. In a lot of areas those properties have not been making good money for this. For the homeowners, they bought them with the belief that they were going to be able to do a vacation rental which gives you a premium on rental stream compared to a traditional long term lease. And in a lot of cities, a lot of markets across the country, they they've simply been not able to get the revenue from that. And they are right now selling and they are going to continue to sell. Not everyone, but there's going to be tremendous opportunity with vacation rentals as well. Just flat out investors who own rental property. There's tons of them that are selling now and that are going to be selling now. We're talking about people, we're talking about typically small investors, small time investors who own a rental house or a couple of rental properties or three or four rental properties and they are ready to sell. Now here's the reason why are they going to be selling one, the majority of them the majority of investors are baby boomers. They are in their late 50s, 60s and 70s again, just like the people that own vacation homes. And they bought their property back. They brought these investment properties back in the early 2000s or in the, in the recovery after the housing crash back in 2008, 2009. They've enjoyed the ride. They bought low and now they are looking to sell high. Plus, there is a massive amount of evictions potentially coming because of all of the people that have not been paying rent. In fact, I've got a Wall street journal here from October 28, from this last week. It says mounting unpaid rent. This is just from the headline, the page one of the Wall Street Journal. Mounting unpaid rent risks a US Tidal wave of evictions. Now what's happening is, is you got a ton of landlords are going to be having to evict people. They haven't been able to evict a lot of people who even who haven't been paying the rent because they have been this eviction moratorium. Well, the problem with that is they've been bleeding money. They're still having to make their mortgage payments, they're still having to pay insurance taxes, property taxes on the property and they've been making no money on rent if their tenants haven't been paying. And they're stuck with those tenants because they can't kick them out. Well, now you have these evictions happening. You can't sell it while somebody's, you can't sell a rental property practically. You can't sell it while you've got a tenant in there not paying rent who's going to buy it? Right? Well now once they're able to evict them, they're going to get them out and they're going to be like, I'm out of this game. I've lost money this year. And I'm like, I'm ready to get out. And there's going to be a ton of them selling. Now there's not all of them going to be selling. So don't say, well, I talked to some and they're not selling. Okay, that's true. But there's going to be a ton of them that are. And just like anything, it's just like, where are the opportunities? You got to go, go out and find them. Okay, another. And then finally another non owner occupied home opportunity and just vacant houses. Now how do you find vacant houses? They have nobody living in them. Okay. And they look vacant. But the easy way you find all of these non Owner occupied homes is simply as real estate agents, you have resources to be able to find this. And you're looking for non owner occupied homes and it shows up on the tax record where the property address and the tax billing address do not match. And you can talk to your title company. A lot of times your title reps, they have resources. There are softwares out there, there are software companies out there that have this kind of things. Like Remine is a real estate data company that can help you find these kind of things. You subscribe to these services and you can pull up and find in your area non owner occupied homes that you can. Then you can either mail them, you can find their phone numbers with things like datafinder.com or fastpeople search.com and you can go find the phone numbers, the contact information for these people, or you can use direct mail. All right, so number five is non owner occupied homes. That was the longest one. The rest of these go faster. Number four, the number four best source for real estate opportunities right now. And it may be number one. But I'm putting as number four is your personal circle. It's the people that you already know. You simply have to ask them for business. I've other videos here that you can find on how to connect with the people that you know and ask for business. And I've got to tell you, I have on my phone I got a message today from one of my inner circle coaching members and they sent me a picture. Okay, and this picture right here, let me see if I can do it so you can see it. This picture right here is a picture of commission checks lined up where it's just showing the dollar amounts. Okay, they have this, the commission checks that they got at the end of October 2020 for their best month ever. Okay, over $100,000 in commission that they made. This is their third month to have over $100,000 in GCI close and pending. This is their first month to have over 100,000 actually closed checks. So they put in the bank over $100,000 in one month. And almost every single one of those closing came from their personal circle. It came from relationships they already had. Now these people are fairly new in the industry. What have they done different? They simply talked to their people, all the people that they knew. They simply call them, ask them for help, ask them who they know that's looking to buy or sell. And they literally call them and say, hey, when you do know somebody who's looking to buy or sell, who's your go to agent and they go like, well, I guess you are. And so they've gotten all, they've been getting all this business from this. They prospect every day, they do the work, but they have been making a ton of money from their personal circle. People that know you, that like you, that trust you, they will use you and they will refer you if you, you ask and talk to them again. I've got other videos here, my YouTube channel where we talk more about how to build those relationships and so forth. Number three, motivated for sell by owners. Motivated for sell by owners. Okay, now not unmotivated for sell by owners. They're never a good deal. But people that actually need to sell for sell by owners are super awesome. In some markets there's tons of them and others there's not that many. But the ones that are there, if they're motivated to sell, here's what they're discovering. It's harder to sell now than it used to be. Now they can still sell it themselves. But if you're a professional agent, if you're trained the way I train my real estate agents, you can actually help them get a better result and so they will hire you. And one of the things that has changed is it is harder now to get buyers closed than it was before because lending requirements have tightened up. So it is harder for a buyer to get a deal closed. And let's face it, if a for sale by owner has a buyer come to them, these typically are not the smartest, most qualified buyers on the planet because if they were, they'd be working with a real estate agent because they don't have to pay a commission and they get all the help and they're able to look at all the properties on the market they come to. A for sale by owner typically are a lower quality buyer. They don't know how to get a loan closed. And because lending requirements have tightened up, it is harder than ever to to get for sale by for sale by owner. To get the buyer to actually be able to close on the deal and get the loan. And so they end up wasting all this time and they get their heart broken and then they hire a realtor so you're, and you don't have to wait till they go through all that pain if you know what you're doing so you can prospect for sale by owners great opportunity and they are looking for the best agent that can help them get the best result. Number two, motivated expired listings. Look, they hired an agent before that did not get the job done. And in this market for most of you and most of your markets, it's hard not to sell a house here. So when they have their house expire, they are unhappy and they are looking for an answer. If they're motivated, they're moving. They need an agent that can help them. You be that agent. How do you get there? You talk to them, you reach out to them and I can just tell you story after story after story. Even during the time of COVID where expireds will still talk to you and there's less competition than there's been and they will hire you and it is a great opportunity for you. And then number one, the number one opportunity going forward and this is not, this is a long term play. This is not just right now, but this is coming into 2021, 20, 20, 22, 23, 24, 25. This is going to be a long term play for a long time. And that is downsizers. As I mentioned earlier when it came to non owner occupied homes, the majority of non owner occupied homes in America are baby boomers. They're in their late 50s, 56 and older, so their late 50s or 60s or 70s. And they're, they're, they're thinking about downsizing here. They're thinking about getting out of all the properties that they own because there's, you sell high, but here you got downsizers. These are the people that are in their, down their 60s, they raised their family here. They're empty nesters and they've kept their property because home prices have continued to go up over the last 10 years. Prices have been good and their interest rates are low. But now they look around and they're going like, you know what, what goes up must come down. They remember 2008, the economic collapse, the housing collapse, housing market collapse. And they were like, you know what, maybe it's time to sell. And they're going to take their 3,500 square foot home that they raise their family and they're going to sell it, they're going to buy a smaller home. Right here, my friend, is a phenomenal opportunity for you to find great motivated sellers. You reach out to them, you connect them with your title company and other software we train through our coaching. You can find the sources that can find you properties of homeowners that have 3,000 square foot and larger homes. They've lived in their house for five, ten years or more. You can even a lot of times look for demographics, age group and all of that. But then you reach out to those people. You can do it with Direct mail, you can do a phone calling and all of that. And you're building relationships with these people, positioning yourself. And when they're ready to move, you help them. Now here's the thing that is great about downsizers. Number one, because they're older, they have the best credit in America. People over 50 have much higher credit. In general, when you look at FICO scores by age range, those over 50 have much higher credit scores than people under 50 on average. So they have good credit. Number two, they have great equity because they bought these, they bought this home, they've owned it for years. They have great equity and it's appreciated over time. So they have great equity. So for them, selling is a piece of cake because they have, they have great equity, they have great credit, which I'm going to get to in a second. And these are the nicer homes, these are the great homes. That includes your luxury market. These are the homes that are fun to sell because they're higher price. But the final thing that makes them so great is that they are used to being homeowners. So they're not going to sell and rent. They're going to sell their big house and they're going to go buy another house. And because it's not their first rodeo, they tend to be easier to work with because they're used to doing the real estate process. They've done it before. So they're not as emotional as a first time home buyer or first time home seller. They're like, you know what, we're ready to get this done. So they are super great clients to work with. So they have good credit, they have good equity. So when they sell, they want to buy because they have a homeowner mindset. So they're going to buy another house. So you get a double dip. You get to help them sell their house and you make money and you get to help them buy another house and you make money. And even better than that, as you build, as you build that clientele, you build those relationships, they now go into your personal circle and guess who they know. They know other people their age and their situation who also have nice big houses and they're going to be selling as well. And my friend, over the next 10 years, over the next 10 years, almost every single baby boomer that owns a 3,000 square foot or larger house, they're going to be selling. Okay? It is just the way it is going to be because they're empty nesters and they don't need that house and they are ready they're going to be ready to make that move. Now. They may not be ready today. Like a for sale by owner and expired. Who is ready right now and today these home people coming out of forbearance who are going to be ready to sell right now and have to sell. These people may not be ready that right away, but you build that relationship. You build that relationship and when the time comes, these are going to be a great source of business for you. And again they're also going to be the same people that own these other properties. So there is a lot of stuff. Now here's what I'm going to do to help you today. So we've been looking at what's happening here, what can we do to help agents. So I'm going to offer to you today a a special offer is our new yes Masters Agent Power Pack. And what we have done is we have put together the best of the core scripts that I have trained and used for years through with my yes Masters training in my best selling book of yes. If you don't have a copy of the Book of Yes here I'm going to give you for free today you can get the realest yes Masters Agent Power Pack. Let me tell you what's in it. The Agent Power Pack. First it has all the core scripts for lead generation, lead follow up pre qualifying and my complete yes Masters listing presentation. So it has for sale by owners expireds scripts, it has the lead follow up scripts, it has the pre qualifying sheet for pre qualifying sellers. So you know all the situation before you go out on a listing presentation so you can get the listing on the first time. And it has my complete yes Masters listing presentation that I've used that made me millions of dollars as a real estate agent and has helped many of my real estate agents make hundreds of thousands and millions of of dollars themselves. And because I want to make sure pricing is going to become more and more important when you take a listing, I've given you my complete CMA cheat sheet which is how to do a CMA and my yes Masters Real Estate Success blueprint which is basically the complete framework of everything. I train our top producing real estate agents who have used this to make millions and millions of dollars. And I'm going to give all of that to you today. All you got to do is go to mastery.yesmasters.com powerpack so it's mastery.yesmasters.com powerPack. Download your free copy of the yes Masters Agent Power Pack. This is only going to be available for a limited time, so make sure that you go and get that right now. Go to yes mastery.com mastery.yesmasters.com power pack and again, if you liked the video, make sure you give it a thumbs up. Subscribe to the channel. If it is your first time here, go look for the opportunities. Take advantage of them. I'll see you on the next video. Hey there, it's Kevin.

I hope you enjoyed today's podcast. Are you tired of getting no after no when you're out there trying to get listings and trying to inspire sellers to say yes to you, then I'd like to invite you to download download a free copy of my no BS listing presentation. This presentation will guide you through exactly what to say that will have motivated sellers saying yes to you over and over again. Stop getting stumped with skeptical seller objections.

Or the famous we need to sleep.

On it, eliminate the resistance and have sellers ready to hire you and give you the listing before you even finish your presentation. To get a complimentary copy of my proven listing presentation, go to yes masters.com forward/download Again, that's yes masters.com forward/download to download your free copy today.