To create the next great product or service, it has been standard practice to ask the customer questions like: “What do you want? What do you need? What will make your life easier?” These simple inquiries should lead to a simple answer. It is then our responsibility as businesses and organizations to respond with products, services, or processes that meet customers’ needs while increasing our margins and market share. This has been the process of the past and has worked for generations, but does it truly work in today’s accelerated, technology-driven business environment?
In my many years as a strategic advisor and futurist, I have concluded that asking the customer what they want is no longer reliable. First, customers are telling others in your industry the exact same information, which leads to a high level of competition. Unfortunately, a professional footrace to a perceived finish line is not beneficial to anyone, especially the customer. Second,…
Posted On Tuesday, 09 January 2024 00:00 Written by
In 2024, economic results will likely remain mixed. While a total collapse is unlikely and a recession may be avoidable, some Americans will still struggle to make ends meet in the face of relatively high rates and higher-than-ideal inflation. Here are LendingTree's predictions for the state of housing, jobs and the economy in 2024.
Potential economic positives in 2024: The housing market likely won’t crash this year Inflation will likely come down Across the board, rates should level off, if not eventually fall Wage growth will continue to outpace inflation We may avoid a recession  Potential economic negatives in 2024: The housing market will remain prohibitively expensive for many Home sellers could face challenges Savings will stay depressed Total debt will stay high You can find our full 2024 housing and economic predictions here:  https://www.lendingtree.com/home/mortgage/housing-economy-expectations-study/ LendingTree's Senior Economist, Jacob Channel, added: "Like any year, 2024 will doubtlessly be harder for some…
Posted On Sunday, 07 January 2024 07:00 Written by
For nearly three decades, Rick’s led more than 1,000 classes and workshops guiding real estate companies and teams to superior agent attraction, agent recruiting, agent retention, and systems surrounding all 3 throughout the U.S. and Canada. He is also a Master Coach with Workman Success Systems. Most of Rick’s coaching clients are top producing Teams, and in most cases, they also own real estate offices or franchises. He’s produced a daily inspirational video blog and presented keynote addresses to thousands of professionals from all industries and walks of life. Rick Geha began his real estate career at age of 22 while finishing a degree in Biology at Cal State Hayward and working in his family’s restaurant. By 1987, he had jumped in full-time and soon became the #1 agent at a local agency named Good Real Estate. By 1993, his passion quickly evolved to influence and leadership earning Rick a…
Posted On Thursday, 04 January 2024 00:00 Written by
You all know that I am very committed to business planning and scheduling. Knowing what you are trying to accomplish and then plotting the course and scheduling the work is a foundational part of what I share with my clients. It is so important that not only you have a plan and a schedule to execute, but being very specific in what you are trying to do and the results you are expecting are critical. Too many people in our business don’t plan at all, they just prognosticate and then hope it all works out. As I have said before, “Hope is NOT a strategy for success!” Mortgage professionals have a very bad habit of just throwing numbers out there into the universe like, “I’m going to do ten deals a month”, or “I want to close $50M in loans.” But very rarely do they break it down as to…
Posted On Wednesday, 03 January 2024 00:00 Written by
The share of U.S. homebuyers looking to move to a different metro area declined for the third straight month in November, dropping to 23.9%. That’s the lowest share in a year and a half, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. It’s down from 24.1% a year earlier–a tiny drop, but the first annual decline in Redfin’s records–and down from a record high of 26% over the summer. Overall homebuying slowed in 2023 because it was the least affordable year on record and there was a severe supply shortage. There were 4% fewer Redfin.com users looking to move to a new metro in November than a year ago, compared with a 3% year-over-year drop for Redfin.com users searching within their home metro. The slightly bigger drop for house hunters looking to relocate explains why migrants are making up a smaller share of overall home…
Posted On Monday, 01 January 2024 00:28 Written by
There are dozens of old sayings that apply in today’s market, you can pick from any of all that you like: Everything works, nothing doesn’t. The harder you work, the luckier you get. If you do what you always have done, you will get what you have always gotten; but if you don’t like what you are starting to get, stop doing what you are doing! Those that succeed are willing to do the things that those that fail will not! You must do what the others won’t, so you can have the things that the others can’t!   The common ground is that they all hold true to a very simple reality; if you don’t do the work, you can’t receive the reward! Think about it. For the last few years loans fell from the sky. Purchases, refinances, it was all so easy. There were just so many opportunities…
Posted On Monday, 01 January 2024 00:00 Written by
Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.61 percent. “The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater, Freddie Mac’s Chief Economist. “Heading into the new year, the economy remains on firm ground with solid growth, a tight labor market, decelerating inflation, and a nascent rebound in the housing market.” News Facts The 30-year FRM averaged 6.61 percent as of December 28, 2023, down from last week when it averaged 6.67 percent. A year ago at this time, the 30-year FRM averaged 6.42 percent. The 15-year FRM averaged 5.93 percent, down from last week when it averaged 5.95 percent. A year ago at this time, the 15-year FRM averaged 5.68 percent. The PMMS® is focused on conventional, conforming, fully amortizing home…
Posted On Saturday, 30 December 2023 07:11 Written by
How has the business year started for your company? Spring is already starting to wind down, and that means it is a good time to take assessment. Whether you are meeting expectations, a little behind, or exceeding your dreams, everybody wants that extra customer. But, especially in a field as competitive as real estate, how do you get it? Terri Murphy knows that you need to prove your worth to customers, if you really want to achieve success.
As the year goes on, are you measuring progress? Terri Murphy knows it is important to measure progress, but not to get caught up in perfection. And, she has three very important tips, as you attempt to make this an exceptional year. Clearly define three top goals, which, if accomplished by this time next year, will make you feel super successful. Decide what it will take to have a high-performance year by focusing on…
Posted On Thursday, 28 December 2023 00:00 Written by
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