Why Agents Fail When The Real Estate "Tide" Changes

Matt and Garrett wish you all a happy 4th of July, and want to help you celebrate the day by guiding you all on how to unleash your inner real estate market master in this compelling episode of Life at Ten Tenths. Employing a powerful analogy to explain the ebb and flow of market conditions, our hosts liken them to ocean tides, and provide valuable insights on both how to navigate these tides, and to enjoy some successful fishing along the way.

Reflecting on trends since 2010, they highlight the significant highs of 2020 and 2021, cautioning that current indicators suggest a potential shift towards calmer waters, and emphasizing that adaptability and vigilance will prove to be the keys to success. Equipped with tools to navigate these market fluctuations, this episode emphasizes the importance of staying informed through new data analysis techniques, targeting diverse buyer and seller demographics, and honing negotiation skills. By comparing market strategies to fishing tactics, the hosts illustrate the necessity of changing methods based on market conditions, and also go on to note that, by joining the exclusive 11 Circle community, agents gain access to invaluable insights and a network of fellow real estate professionals to help them weather any tide. The episode concludes with a powerful reminder that success in any market requires flexibility, continuous learning, and collective effort, ensuring that professionals can thrive regardless of market dynamics.

Episode Highlights:

0:00 Start

0:23 Introduction

0:43 Happy 4th of July!

3:01 The Life at Ten Tenths Community and The 11 Circle

5:50 The tides analogy regarding markets

10:41 Reading the movement of these tides and fishing in them

13:29 Accessing navigation tools

19:24 What is your activity in real estate like?

21:26 Adapting to the tides

24:54 Core principles

26:29 Benefitting from collective intel and wisdom

Key Takeaways:

"The tide is always moving, right?"

"You don't know it until it starts to go out."

"When you recognize that tides can change quickly and the market can change quickly, then it's not like there's 100% certainty in all the past data that you have."

"The market is always changing. Always. Every day there's a different scenario. And if we know that we can be prepared."

"We need to be analyzing this. We need to be paying attention to it so that we can go to our customer and say, “Here's what our strategy is for this given marketplace.”"

"If you figure out the different type of fishing and how you're going to be in this new market, you can still be successful."

"There's always an opportunity for results. There's always something to catch. There is always somebody buying a house. There is always somebody selling a house."

"Ask questions if you feel like something's changing. That's going to help you uncover some things, and then maybe you try a few different things to see what works."

"The best guides work together and they share their ideas and they share their intel. And all of a sudden everybody's having a great day of fishing."

"This is the opportunity for everybody out here right now to know your marketplaces and work together for collective intel."

Links:

Life at Ten Tenths: lifeattentenths.com