217: Desperate for Deals: Agents on the Edge
Hustle Humbly Podcast
Alissa Jenkins & Katy Caldwell
4.9 β’ 914 Ratings
ποΈ 2 October 2023
β±οΈ 68 minutes
ποΈ Recording | iTunes | RSS
π§ΎοΈ Download transcript
Summary
Agents on Edge β Desperate for Deals
The market has shifted. Interest rates are high. Listings are sitting. Cancellations are happening on things that never should have gone under contract in the first place. And agents β a lot of them β are operating from a place of desperation.
This is the episode where we say: take a breath. Hold your systems. Make good choices.
Katy has been in real estate for 18 years and has never seen a 7% interest rate. Alissa is watching agents rush offers, skip due diligence, and make hasty decisions that are hurting their clients. And both of them have fresh, real, deeply frustrating stories to share.
Here's what we cover in this episode:
- Why desperation is the most dangerous place to run a real estate business from β and how clients can sense it
- Why the COVID-era agent surge combined with a market shift is creating a perfect storm of bad behavior
- The vacant land scam Katy got called on β and how she played it out to the end (for content, obviously)
- Alissa's inherited property listing: the agent who sent the same offer twice, both times asking for a home warranty on a house with no toilets
- The importance of calling the mortgage lender when an offer doesn't make sense
- Katy's database teaching: stop blaming the sign when it's really just the market
- Online leads vs. database leads β and why working strangers is exhausting your soul
- Alissa's Bible study moment: how NOT to react when you find out someone used another agent
- Agents going behind the sign β what it is, why it's unethical, and how to handle it
- The investor/wholesaler who went directly to Alissa's seller, had a "title attorney" walk her through a script, and nearly convinced her to cancel her listing
- What to do when your seller is entertaining an offer you can't advise on
- Repair request stories: the buyer's agent who called screaming at 8am, and the deal that canceled anyway
- The garage door story: being falsely accused of leaving a house unsecured, and how Alissa handled it
- Why buyer's agent energy affects buyer mindset β and how agents torpedo their own deals
- Education in a slow market: ARMs, recasts, HELOCs, and why knowing your financing options is your best competitive advantage
- Why you should never burn bridges β even when a client uses their aunt's real estate license to buy a house
Referenced episodes:
- Episode 6 & 7: Carl Carter on Realtor Safety
- Episode 161: Tanner from law enforcement on safety tips
- Episode 216: Jen Stanbro on Realtor Safety
- Episode 214: Buyer Brokerage Changes
Toast of the week goes to Jenna Yocum in northern Colorado, toasted by her twin sister Randy. Jenna got into real estate four years before Randy, gave her the courage to get her license, and together they run a two-person team. Cheers to Jenna!
Want to toast someone on the show? Send us a voice or video message with your name, who you are toasting, and why! Email it to team@hustlehumblypodcast.com.
Leave us a review at http://ratethispodcast.com/hustlehumbly
Get your FREE Database Template: http://hustlehumblypodcast.com/starthere
Email Templates 101: http://emailtemplates101.com
Agent Systems 101: http://agentsystems101.com
All Resources: http://hustlehumblypodcast.com
Submit your topic ideas and toasts to Team@HustleHumblyPodcast.com
Music:
Straight A's by Connor Price β https://connorprice.shop/
The Good Life by Summer Kennedy β https://soundcloud.com/summerkennedy/the-good-life
Be The One by Matrika β https://uppbeat.io/t/matrika/be-the-one
Transcript
Click on a timestamp to play from that location
| 0:00.0 | When agents are offering from a place of desperation, hasty decisions are made and homework is not done. |
| 0:10.1 | I'm very busy right now. I don't have a lot to show for it. |
| 0:14.4 | All right. |
| 0:17.2 | We got another offer, thankfully. |
| 0:19.3 | Okay. |
| 0:19.7 | They canceled. |
| 0:21.0 | Oh, I wanted the end of the story to be happy. |
| 0:23.4 | No, it's not yet. |
| 0:26.2 | And they look at you like you are gold. |
| 0:28.8 | Because they don't know. |
| 0:30.2 | They don't know, and they realize I've always heard realtors are not very helpful. |
| 0:36.1 | Hi, y'all. |
| 0:37.0 | Welcome to Hustle Humbly. |
| 0:38.1 | It's Alyssa and Katie, and we are two top-producing realtors in the Baton Rouge market. |
| 0:42.1 | We work for two different companies where we should be competitors, but we have chosen |
| 0:45.5 | community over competition. |
| 0:47.1 | The goal of our podcast is to encourage you to find your own way in business. |
| 0:50.8 | So stop comparing yourself and start embracing your strengths. |
| 0:54.6 | Hi, Alyssa. |
| 0:55.5 | Hey, Katie. |
| 0:56.4 | It's episode 217. |
| 0:58.2 | Okay. |
... |
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