What are you doing to build and cultivate trust with your customers about the current market?

The October 21st episode of This Week in Housing covers the latest data on forbearance and inventory of the current market. 

I was joined by David Childers from Keeping Current Matters, as well as Genelle Geronsin, Rockstar agent from Orange County and Tom Toole, another Rockstar agent from Philadelphia. 

We covered data on how U.S. households have used their stimulus check and why the current reality has made many of them reevaluate their current housing situation. 

Genelle and Tom T. shared powerful scripts on how to use these data points to your market and help them make the best decision to move up. 

In this episode we also talked about key points of working with millennial buyers, sharing the current housing market inventory and how to talk about forbearance while letting your clients know about their many options!

Continue building your trust as the knowledgeable agent of your market by informing yourself with the correct data around the housing market and remember to keep your clients informed!

In this episode we talk about…

0:46 – Genelle Geronsin shares about running family real estate group who averages 130 transactions per year

1:50 – Tom Toole talks about being a leader to his real estate group and doing 330 transactions under a lockdown 

5:00 – David Childers shares a bit of perspective of the journey that we’ve experienced by providing the total spending all consumers have done as compared to January 1, 2020

6:21 – These are the average U.S. FICO scores

6:54 – Households have used most of their stimulus check to pay down debt and save 

8:05 – Genelle talks about how COVID-19 halted people and made them reevaluate their lives based on what is truly important 

9:26 – Tom T shares how people are placing more value in their homes and how the lockdown has helped make the decision of moving up 

11:45 – These are the business applications for the United States that have skyrocketed 

13:50 – Tom T talks about how people and businesses are pivoting 

14:35 – Genelle talks about being innovative and finding solutions during these hard times

16:10 – The business winners during this time are innovative and growing 

18:13 – David shares what the experts are saying on housing market recovery index

19:51 – Listen to what the experts are saying around projections for home price appreciation 

21:00 – Genelle shares tips on how to look into these insights as the knowledgeable agent 

23:44 – Tom T shares how to guide millennial buyers to make the best decision right now 

25:05 – Tom discusses how Ivy Zelman provided vital information on how to help clients move up with the correct data 

27:21 – Tom T reveals how he’s going to communicate with his clients on moving up in the market by doing video and using currents stats

28:45 – Genelle gives some powerful points on how to encourage clients to make the right decision for them 

30:32 – These are the changes in forecasts of home price appreciation 

32:20 – David talks about the number of mortgages in active forbearance decreased dramatically 

33:48 – These are the percentage of overall forbearance decreasing 

34:24 – Discover the latest data of the 5,289,000 families granted forbearance, this is what happened upon the expiration of the plan…

37:18 – Genelle shares her thoughts around forbearance 

39:44 – David reminds that we need to talk about this information and bring it to the market 

40:40 – “A lot of people don’t know they have options.”

42:27 – David shares the latest quotes of real estate experts 

45:50 – Check out the latest data on builder confidence that have set records!

47:17 – These are the inventory levels this time last year of existing homes

48:30 – Genelle talks about builder confidence 

52:39 – Tom T shares about the inventory in the market during this time