The Tom Toole Sales Group Podcast

The Tom Toole Sales Group Podcast

Real Estate team leader Tom Toole shares valuable information on recent trends, production hacks, and current events for consumers and agents in weekly episodes of Tom's Take and Agent Hacks.

  1. Sep 23

    The Fed Just Hiked Rates. Mortgage Rates Went Down. | Tom's Take 498

    For the first time in three years, the Federal Reserve hiked the key interest rate by 25 basis points on a unanimous 12-0 vote. Here is the part most people get wrong: a Fed hike does not automatically push mortgage rates up. Mortgage rates actually ticked down a few hundredths of a point on Thursday, according to Mortgage News Daily. The hike was widely expected and already priced into the 30-year fixed. What is actually driving rates right now is oil above $100 a barrel and the conflict in the Middle East. Until that resolves, there is not much relief coming. One number worth knowing: strip energy and food out of the inflation data and core is running 2.4% year over year, very close to the Fed's 2% target. Include them and it is in the mid 3% range. That is a big difference, and it explains a lot about where this goes next. If you're selling: Price for reality using the comp-based model. Suburban Philadelphia homes are selling between 97% and 99.6% of list, which tells you what the market will actually bear. Then watch the milestones: are you getting showings in the first ten days, and are you getting an offer after ten showings? If not, it is time for a price adjustment. You have about three and a half to four months before we hit 2027. If you're buying: Focus on the monthly payment, not the rate. Taxes, insurance, principal and interest, and purchase price all move that number, and in this market taxes swing hard from one township to the next. Then shop your financing. We had three lenders this summer beat the Mortgage News Daily quoted rate by two to three tenths of a point on closed deals. On a 7.19% quote, that is 6.89%. Get a referral rather than going online to a Rocket or a Wells Fargo, so you know the rate they quote is one they can actually deliver. Rates in the high sixes and low sevens are not new, and historically they are right in line with the long-run average for a 30-year fixed. This is a recalibration, not a crisis. People are still transacting. Want a plan built for your situation? Click the link in the comments. Tom Toole Sales Group at RE/MAX Main Line serves the Main Line, Chester County, Delaware County, and the greater Philadelphia suburbs.

    The Fed Just Hiked Rates. Mortgage Rates Went Down. | Tom's Take 498
  2. Sep 16

    Separation Season: How to Win Q4 While Your Competition Quits | Best Agent Hacks 437

    Welcome to Separation Season. The fourth quarter of the real estate year has started, and most agents are already mentally checked out. They're talking about next year. They're planning December off. They've decided they earned it. That's the opportunity. Anything you put under contract after November 15 probably isn't closing this year, which means you have roughly 90 days to get real work done. On our team, September, October, and November account for as much as 31% of the business we close. Quitting now means walking away from nearly a third of your year. The core idea behind Separation Season is simple. Stay disciplined and focused while your competitors take their foot off the gas. You don't beat them by doing something clever, you beat them by still being in the game in December. Here's the whole system. Three numbers, tracked daily, posted somewhere you can see them: Daily conversations. How many people do you need to talk to every day? Weekly appointments. How many appointments are you going on in the next seven days? 90-day pending sales target. How many homes do you put under agreement in the next 90 days? Not closed, because closings aren't in your control. Under agreement. The first two are your lead indicators. The third is the lag indicator that follows from them. Nothing else matters over the next 90 days. That stretch is going to be noisy. Title company events, holiday parties, leaving early for trunk or treat. The agents who protect the daily conversation number through all of it come into January with momentum while everyone else is starting from zero. One more thing on goal setting: set a reasonable goal you know you can hit, then go after it with unreasonable effort. Doubling or quadrupling your business in twelve months isn't a plan, it's a wish. A realistic number attacked relentlessly beats a fantasy number abandoned in March. Credit to Adam Lavin on our team, who put it best in our Mastermind: you can advance a whole year in your business by finishing the fourth quarter strong. They're called holidays, not hollow months.

    Separation Season: How to Win Q4 While Your Competition Quits | Best Agent Hacks 437
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Real Estate team leader Tom Toole shares valuable information on recent trends, production hacks, and current events for consumers and agents in weekly episodes of Tom's Take and Agent Hacks.

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