Mortgage (Good News), Motivation & Marketing Monday | Wake Up Real Estate Show 11/13/23

Introduction

Welcome to today’s episode of the Wake Up Real Estate Show, recorded on Monday, November 13, 2023. We’re already looking ahead to 2024, and we’ve got some exciting plans to enhance our streaming capabilities using StreamYard. However, there was a little hiccup with the sound, which might confuse those just listening to the podcast without video. Don’t worry; you can always catch up on the details by watching the video on our YouTube channel or on our website.

Mortgage Updates

FHA Loans and Interest Rates

Today, we’re diving into some mortgage news. Specifically, we’re talking about FHA loans. The interest rates for these loans are in the 6% range, which is surprisingly good news. This could be a great opportunity for FHA borrowers who were hesitant about entering the market. Thanks to our sponsor, Nexa Mortgage, and their wide network of over 200 wholesale lenders, we can secure competitive deals, potentially bringing more buyers back into the market.

Motivation for the Week

A Quote from Teddy Roosevelt

Let’s start the week with some motivation from Teddy Roosevelt, who famously said, “Courage is not the strength to go on; it is going on when you don’t have the strength.” This quote is a powerful reminder to persevere, even when things get tough.

Marketing Ideas

Utilizing Social Media for Real Estate

We discussed effective social media strategies for real estate, such as using Christmas countdown timers as a call to action to remind people there’s still time to buy a house or property as a holiday gift. Another idea is creating content around Black Friday, suggesting that instead of spending money on sales, investing in a property could be a smarter financial decision.

Market Trends and Insights

Changes in the Housing Market

The housing market is showing signs of change. Fewer competing offers are being made now compared to the past few years. This trend provides a unique opportunity for buyers using FHA, VA, or USDA loans, or those who might need seller concessions, as sellers are now more open to negotiation.

We also touched on how interest rates have recently decreased, making it a favorable time for those on the fence to consider jumping back into the market. Additionally, with the Consumer Price Index (CPI) update looming, it’s crucial to stay informed as it might influence future interest rate decisions.

Enhancing Client Engagement

One-to-One Marketing Techniques

Despite the broad reach of automated marketing, personal one-to-one communication has been notably effective. We shared examples of how personal emails and texts can re-engage clients, such as offering a cash buyout for properties or simply checking in on clients who have shown interest in certain listings. This approach not only rekindles interest but also personalizes the client experience, potentially leading to more sales.

Conclusion

In today’s episode, we covered a range of topics from mortgage updates to marketing strategies and market trends. The key takeaway is the importance of adapting to market changes and utilizing both new tools and personal engagement techniques to stay ahead. Whether you’re a buyer, a seller, or a real estate professional, there’s something valuable in today’s discussion that can help you navigate the current market.

Want to learn more about real estate or need personal advice? Don’t hesitate to reach out or visit our website for more information. Let’s make the most of this market together!



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