"Pessimism leads to weakness, optimism to power."

- William James

I really enjoy this quote. The idea is that the more pessimistic you become, the less likely you will take chances to advance yourself. Whereas your belief in yourself and your abilities leads to growth “power.” Why not embody a vantage point that pushes us forward instead of one that holds us back? 

Pessimism in the Marketplace 

I get it, the market has not been the cash churning machine we all came to love when interest rates were low, inventory was higher, and inflation/taxes weren’t taking as big of a bite out of profits. They can suck, but anytime I had to deal with “suck,” it has always led to growth.  

With the lack of inventory and high interest rates, agents were already struggling. Some kind of membership dues are due today (March 31st). I expect a mass exodus from the industry from that alone. Add in the uncertainty that has entered the market with the NAR (National Association of Realtors) lawsuit as well, quite the storm is brewing! It means there will be a fair amount of market share available for agents that are able to embrace change, but also for the agents that are willing to embrace AI tools. Within my own business we’ve discovered a disgusting number of advances by delegating tasks to the AI (What Not Who!). 

In eight months, our buyers’ list has scaled from a strong list of 2,100 (literally the cream of the crop) to 400,000 national investor buyers. To conceptualize, that is larger than the entire population of Cleveland. We could fill the Dallas Cowboys Stadium, standing room only four times over. Our inventory has gone from about twenty deals available at a time to eighty deals currently available (https://investorlift.com/company/brothers-buy-houses-llc). All of these things happened because someone in my market jumped in my blue ocean. I had to adjust and embrace change. 

Reasons To Be Positive About The Market:

• More fear, less competition

• Inventory is sitting, send out LOIs written on ChatGPT, make your own luck! 

  • Send lowball offers, ask for seller financing! Worst thing they do is say no!

• Wave of opportunity coming in the multifamily and commercial spaces

  • Increase in inventory and leverage

• The squeeze is causing investors to sell <--opportunity for those who can capitalize 

• Agent fees will likely be reduced, this will lead to more meat on the bone

• As always, life rewards action

Song To Digest With

James Vincent McMorrow- Cavalier

-Rob Bergeron

Talk business with me on twitter, tell me what you want to learn about: https://twitter.com/RealEstateRobKY

Get to know the person who keeps showing up in your inbox: https://www.instagram.com/robbergeroninky/

Edited by Colleen Reilly