Real Estate Coaching Radio
Real Estate Coaching Radio
Real Estate Coaching Radio
Listen Now To The #1 Daily Podcast For The Real Estate Industry, Real Estate Coaching Radio. Hosted By #1 Real Estate Coaches And Best Selling Authors Tim And Julie Harris. Recognized By The Motley Fool, Inman News, Google (And Countless Others) As One Of The Most Influential Podcasts In Real Estate. When You Listen Now You Will Learn All The Closely Guarded Secrets of the Nations Leading Real Estate Professionals. Expect Drilled Down, No BS, Fast Paced Practical and Tactical Information to Get You Into Action Now Helping Others and Making Money.
Housing Crash Coming Soon?
Everyone is wondering if this is a boom that will end in a bust. Is this huge run up in prices going to result in a massive adjustment? It's a logical question considering home prices are up 17.2% year over year, comparing March 2020 to March 2021 (NAR). That's historically even higher than the boom that preceded the housing crisis that started in 2008. Morgan Stanley: Home prices, as measured by the S&P Case-Shiller Index, rose 12.2% over the past year, with prices surging across all 20 of the metropolitan areas tracked by the Index. That amounts to an increase of $35,000 in the median selling price for homes from just a year ago and marks the fastest pace of increase since 2006. We'll take a look at the reasons that this market is NOT going to be just like 2007/8! We're doing this for your own education as well as to give you specific talking points for your nervous buyers.  FACT: An objection is an unanswered question in the mind of the prospect. The unanswered question you're hearing now (or asking now yourself) is: Is the market going to adjust / crash / decline anytime soon? So take good notes and get ready to sleep better at night knowing the facts versus conjecture and speculation. Reason #1 : Mortgage lending is completely different than it was in the previous housing boom. There is FAR less mortgage risk now then there was in the previous boom. The subprime mortgage crisis was a leading factor in the housing crash. Not so today! Let's take a moment to compare and contrast: In 2005-2007, an average of 40% of mortgages were considered 'sub-prime'. These were loans which were used when people applying did not fit into the 'conventional loan' mold that you're all used to having to comply with today. Almost all of those applications would be declined in today's mortgage environment. Examples of sub-prime loans (only 2% of today's mortgages) include: -interest only mortgages -Ninja loans (No income, job or assets) -Stated income loans (sometimes called liar loans) -No-documentation loans -0% to 5% down payment mortgages Fact: credit scores, debt-to-income ratios, job history and down payment verification were all, shall we say...anywhere from optional to less important to simply made up or just not asked for in the first place. Also, appraisals were not so regulated. Everything appraised all the time...until it didn't. It's the RISK factor that caused the bubble to burst eventually. It was unsustainable risk. Morgan Stanley: These products were inherently risky because they required home prices to keep rising and lending standards to remain accommodative so that homeowners could refinance before their monthly payment became unaffordable. However, when home prices stopped climbing, these mortgages reset to payments that borrowers could not make, leading to delinquency and foreclosure. As foreclosures and subsequent distressed sales piled up, home prices fell further, creating a vicious cycle. What's different today? Things aren't just a little bit different in the mortgage world, they're dramatically different. #1:  36% of home sales are ALL CASH according to CNBC. In many markets, especially in the Northeast, more than 50% of sales are all cash. (Note: There's no lender to foreclose on a house with no mortgage...) #2: Lenders have tough standards today. Average credit scores for 3rd and 4th quarter 2020 were a record high 786 according to the Federal Reserve Bank of New York. #3: The competitiveness of the market has also caused higher down payments, yet the actual monthly payments aren't dramatically effected, thanks to low interest rates. This means that you automatically have more equity in your home when you close in 2021 than the equivalent in 2006 where you might have purchased with low or no money down.  Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 14
32 min
Principles Of Success For A Lifetime (Part 7)
Principle of Success 13: Learning From Adversity & Defeat We choose whether challenges and adversity are stepping stones or stumbling blocks in our path to success. Experiencing defeat is inevitable, accepting it or mastering it is up to you. "Success is not final, failure is not fatal. It is the courage to continue that counts." -Winston Churchill *Adopt the 'It's too soon to tell' mindset for both setbacks and victories. *Apply this philosophy to your own mindset but also as an example to your clients and prospects.  -The client who lost out on what they thought was the house of their dreams, only to find a better one the following week. -The listing who wants to be 10k higher than the last comp and you end up getting it. -The inspection report you thought would kill the deal -Use stories to remove ego when you're giving examples of 'It's too soon to tell' to your clients. Principle of Success 14: Attaining Creative Vision Learning and applying the skill of using our imagination beyond fear and imposed limitations brings endless opportunities for success and achievement. -Think bigger! Get exposure to what you desire so it seems less foreign to you. -You don't have to see all the steps, you just have to take the first one and then the next one. Be wary of 'analysis paralysis'. -Believe and you will achieve. You have to have the unwavering belief that you can have all you desire. -Consider upgrading everything! Refer to Harris Rules book.  Principle of Success 15: Maintaining Sound Health Sound health is essential to success. It starts in the subconscious mind and is attained through conscious decision and unwavering determination and will power. -Monitor what you put in both your mind and your body. -Follow a specific nutrition and fitness plan. Going to the gym / yoga / pilates daily is good for your health AND your business.  "All of our dreams can come true if we have the courage to pursue them!" -Walt Disney Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 13
26 min
Principles Of Success For A Lifetime (Part 6)
Principle of Success 16: Budgeting Time & Money Taking regular inventory of how we spend our time and money is a great tool to maximize them and use them effectively. Remember, while money can be recovered, time spent is gone forever! -Real Estate Treasure Map. This forces you to actually understand your own financial picture, what real estate needs to provide for you and your family and engineer a schedule which will give you results. -Time spent is gone forever. How much minimum wage work are you filling your days with? Are you doing work theatre or are you being dollar productive? -When should you hire a Transaction Coordinator? Are you avoiding that so you can hide out in TC work subconsciously? Where would your business be if you reallocated that time? -What technology or apps can you 'hire' to make your days more productive and efficient? Yesterday’s the past, tomorrow’s the future, but today is a gift. That’s why it’s called the present. Bil Keane Principle of Success 17: Establishing Positive Habits Positive habits result in a happy, healthy, successful YOU. When you develop a positive habit, the habit develops you. Your life is the result of the habits you have formed. -“Energy is usually at its peak during the first part of your day, which means you should be completing habits that inspire or excite you about the day ahead.” -SJ Scott 'Habit Stacking' -Discipline is choosing between what you want now and what you want most. -Abraham Lincoln Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 12
41 min
Principles Of Success For A Lifetime (Part 5)
Principle of Success 10: Accurate Thinking Everything begins with a thought. To think accurately, one must separate fact from information and actively categorize and prioritize the facts. *Where to start with media 'entertainment'? The news is no longer news, it's opinion. Practice a Media Free Life. *Don't make up stories about people or situations when you don't have actual FACT.   Principle of Success 11: Controlling Our Attention Controlled attention is the principle that commands us to focus actively and exclusively on those things we desire to achieve, resulting in its imminent attainment. *Follow One Course Until Successful = FOCUS. *Are you a 'sampler', a 'dabbler', or do you stick to it? Developing duplicatable and predictable sources of listing leads should be your primary focus until successful. Then lather, rinse, repeat until you are maintaining your Magic Number. Principle of Success 12: Building Teamwork The principle of teamwork is equivalent to harmonious cooperation based on willingness and free contribution. Inspiring teamwork assures rapid and meaningful success. *Are you a rower or a rider? What about your team members? *Buyer referral agents versus buyer's agents. Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 11
32 min
Principles Of Success For A Lifetime (Part 4)
Principle of Success 7: Cultivating A Positive Mental Attitude Your mindset is the only thing you have complete control of. A positive mental attitude attracts opportunities for success. Principle of Success 8: Acting With Enthusiasm Our passion and our burning desire to succeed is more powerful than all logic. Enthusiasm comes from within to intensify our faith and motivate us to massive action toward success. *Would your prospects and clients describe you as enthusiastic? *What do you do when you're NOT feeling enthusiastic? Are you controlled by your 'being in a rut' or do you have a strategy to get back in the saddle? *People will forget what you said but remember how you made or make them FEEL. Be fascinated and enthusiastic about who you're speaking to, who you're helping. Keep the mindset of being of service and enthusiasm will come naturally. Principle of Success 9: Practicing Self-Discipline Self-mastery is essential to success. Self-discipline is enforced by controlling your thoughts and your actions, thus balancing our outcome. *30 minute rule for all volatile or potentially volatile situations. Your first reaction may not always be the best. *Operate from fact, not from fiction. Don't make up what 'must be happening' in your head. Get the truth first. *Write down what you think is right to say, reread it and edit, delete or use. This is especially critical with texting and emailing. "Opportunity often comes disguised in the form of misfortune or temporary defeat." -Napoleon Hill Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 10
31 min
Principles Of Success For A Lifetime (Part 3)
Principle of Success 7: Cultivating A Positive Mental Attitude Your mindset is the only thing you have complete control of. A positive mental attitude attracts opportunities for success. Principle of Success 8: Acting With Enthusiasm Our passion and our burning desire to succeed is more powerful than all logic. Enthusiasm comes from within to intensify our faith and motivate us to massive action toward success. *Would your prospects and clients describe you as enthusiastic? *What do you do when you're NOT feeling enthusiastic? Are you controlled by your 'being in a rut' or do you have a strategy to get back in the saddle? *People will forget what you said but remember how you made or make them FEEL. Be fascinated and enthusiastic about who you're speaking to, who you're helping. Keep the mindset of being of service and enthusiasm will come naturally. Principle of Success 9: Practicing Self-Discipline Self-mastery is essential to success. Self-discipline is enforced by controlling your thoughts and your actions, thus balancing our outcome. *30 minute rule for all volatile or potentially volatile situations. Your first reaction may not always be the best. *Operate from fact, not from fiction. Don't make up what 'must be happening' in your head. Get the truth first. *Write down what you think is right to say, reread it and edit, delete or use. This is especially critical with texting and emailing. "Opportunity often comes disguised in the form of misfortune or temporary defeat." - Napoleon Hill Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 7
38 min
Principles Of Success For A Lifetime (Part 2)
Principle of Success 4: Going the Extra Mile Going the extra mile is rendering more and better service than you are paid for, with a positive mental attitude. *It's my pleasure attitude. *Underpromise and over deliver.  *Provide overwhelming value. Principle of Success 5: Embodying A Pleasing Personality Our personality is the sum total of our mental, spiritual and physical traits and habits. An attractive personality is assembled by controlling and guiding our emotions, practicing courtesy and having a positive attitude. *How are you honing your mental, spiritual and physical traits and habits? Are you actively working on your SELF or are you busy criticizing and judging other people and situations? *Increase your exposure to people, places and things you'd like to integrate into your own personality. Principle of Success 6: Taking Personal Initiative Personal initiative is the inner power that inspires all action to get started and completed. Procrastination prevents all success and achievement. *'I'm a do-er, I do things now, I get things done' mantra. *Are you stuck getting ready to get started to someday possibly take action? *If it's meant to be, it's up to me. OWN your goals. Take steps daily through your pro-active actions to move the needle for yourself and your family. *If you're not yet enjoying the profit you desire, you have yet to learn how to help enough people at a high enough level! In order to achieve long term, ever increasing success, you MUST learn to do what you don't want to do when you don't want to do it at the highest level! Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 6
36 min
Principles Of Success For A Lifetime
Principle of Success 1: Developing Definiteness of Purpose The lack of a major purpose, plan or goal causes people to fail and get lost in their life journey. Definiteness of purpose constitutes the starting point of all worthy achievement. *Understand your financial requirements. What's it take to pay for your current lifestyle? Versus the lifestyle of your dreams? Use the 3 x rule. $5000 to live on usually means $15,000/month moves the needle. *Goals in 5 areas of life: Real Estate Treasure Map *Do your daily actions reflect your Definiteness of Purpose? Create and follow your Ideal Schedule Principle of Success 2: Creating A Mastermind Alliance Success and achievement comes with the collective collaboration of two or more minds working together in perfect harmony towards the attainment of a common goal. *Who you surround yourself with matters. Who are you getting advice from? Who are you masterminding with? *Premier Coaching Daily Mastermind for example. *Media Free Life or at least mornings. Principle of Success 3: Using Applied Faith Faith is a state of mind, the awareness that our goals, desires, plans and purposes will materialize through our actions in the physical realm. *What level of belief do you hold that your pursuits will equal results? Apply this in every aspect of your business. 'Whether you believe you will or believe you won't, you're right!' - Henry Ford *Do you believe you'll win that listing appointment? Do you believe you'll set appointments from your lead follow up or are you 'just getting through it'? Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 5
37 min
6 Rules Only Rich People Know (Part 3)
Rule 5. Accept the fact that the more people you help accomplish their goals, the richer you will become and the more freedom you'll experience. You will only become rich and free when you become of service to others. Not rich and free? Develop a product or skillset that others are willing to pay for and then multiply. When you're rich and free and the economy tanks, you can buy assets at a discount. You can help people who might not have been able to help themselves. Rule 6. If you're not rich and free, it's because you're choosing to be poor and dependent. YOU are making that choice. Someone else has not made that choice for you. Obviously, some people were born on 3rd base and act like they hit homers. But stop thinking that the vast majority of millionaires and billionaires aren't self-made. Stop being in conflict with why someone is rich. They're rich because they are providing something to enough other people that those people are willing to pay for, thus producing enough profit that they are rich. If your primary aim is your immediate safety and security and 2 weeks off for vacation, and that's the only contribution you're willing to make (minimum effort to maintain comfort), if your every waking moment is seeking comfort, YOU have chosen to be dependent. You have chosen to be a slave to your own limiting beliefs. The social security administration states that 95% of people retire being dependent either on the government or on a family member. Homework: Buy this book:  https://www.amazon.com/Harris-Rules-Practical-Step-Step-ebook/dp/B07HHBHRVC/ref=sr_1_1?dchild=1&keywords=harris+rules&qid=1620140355&sr=8-1 Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 4
39 min
6 Rules Only Rich People Know (Part 2)
Everything is better when you are rich. NOTHING is worse. - When you have normal life problems, does having money make those problems better or worse? Even the worst-case scenarios of life are better when you are rich. You have NO problems when your problems can go away when you write a check. The problems you have when you have money are WAY BETTER than the problems you have when you are poor. People romanticize the idea of living simple lives, out on the prairie or out in a jungle tribe. But the historical facts are that the tribal nations of humans were actually quite horrible. The Indian tribes in the Southwest actually committed some of the most brutal atrocities every accounted for. Rape and murder were normal on the prairies. They weren't the spiritual meccas of well-being! Funny story is how every time a lost tribe is found...and they learn that life is better out of the jungle...they leave. That's the first thing they do?..They leave. They like having nicer stuff! If you can write a check to make a problem go away, you don't have a problem. All the worst problems in life: health / financial, etc, are not nearly as bad when you have money. That's a fact. Money improves every aspect of life. 99% of your issues go away with money. With money, you can also make other people's problems go away. You can solve their issues when you choose to. Rule 4. What your heart, soul, mind, body and spirit search for beyond all else is FREEDOM. You want more than anything, Libertas. To do what you want to do when you want to do it at the highest level. Have you ever considered how much of your conscious & unconscious moments are spent worrying about lack of money? NOT being rich keeps you dependent. If you never had to worry about money for any of your immediate needs or those of your family, those you care about...if you'd created abundance for everyone who matters most to you, you'd then have freedom to do that for others as well. The highest and truest purpose of all of us on this planet is to be of service to others. There's no greater feeling of satisfaction than the feeling of knowing you've helped someone. Most people say their happiest years were raising their family... when they were helping them grow up on an intense and daily level. This is why when they're older, it's not uncommon to feel depressed out of lack of being needed. When you're rich, you can create a circumstance for yourself where you are ALWAYS being of service to other people. Ask yourself what you'd do with your life's energy if you no longer had to worry about money? If you no longer had that worry, you'd make better decisions. You'll make different and better decisions when you're no longer living in fear of being broke. No longer living in fear of pissing someone off who might be able to fire you or cause you to lose financial security. Ask yourself if you were rich, truly independent and free, would you vote the same way? Are you voting the way you are now because you are choosing to give up your freedoms for the promise of 'being taken care of?' People with purpose, who are financially free are focused on improving their lives as well as the people around them. It's not more money, more problems, it's more money = more time and you can truly make a difference. When you are rich and free, you're not easily manipulated. When you're not rich, your decisions are largely influenced by someone or something creating the illusion of financial security for you. Once you're rich and free, you'll see how you're voluntarily choosing to be beholden to a system that was intentionally designed to oppress you and manipulate you into believing that the system has to exist. Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher Learn more about your ad choices. Visit megaphone.fm/adchoices
May 3
29 min
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