Today's Headlines - Realty Times

Posted On Monday, 30 January 2023 00:00 Written by

I said last week I was going to try and share my thoughts on coaching and mentoring. For me, this is the single most overlooked area of our industry, and one that takes some time and effort to get ahead of. Far too many companies and managers just try and find skilled people and throw them into a position and expect things to just work out. While that may happen at some level, you are basically just allowing people to function as they have always functioned, but never really growing in experience and productivity because they continually just repeat what they already know. As the great Greg Frost has said “Being in the mortgage business for eight years doesn’t mean you have eight years’ experience, you likely have just repeated your first year in the business seven times!”

I wanted to share my insights here and today we will see an overview of what I call “The Five Areas of Mentoring” and I will break down each one of these areas each week over the next five weeks. Those five areas are: 

  1. 1. The Rules of the Game
  2. 2. The Tools of the Game
  3. 3. How to WIN the Game
  4. 4. Attracting Participants to the Game
  5. 5. Keeping Connected to those who Played the Game 

 

Some of us have mastered a few of these points, others have not. Most of those who will read this may have never even thought about these points, while others aren’t aware that they even exist. For those of you that have followed my work over the years, you are likely to see familiar terms. Over the next month or so, you will have a reasonable understanding of each of these concepts and how to master each area and help others do the same.

Information is always important, but execution is essential! I want to help you with both! If you would like to go deeper on these areas or are looking to set up your own mentoring program and would like some help; it’s This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 30 January 2023 00:00 Written by
Posted On Sunday, 29 January 2023 06:43 Written by
Posted On Friday, 27 January 2023 12:23
Posted On Friday, 27 January 2023 12:16

Pending home sales increased in December for the first time since May 2022 — following six consecutive months of declines — according to the National Association of RealtorsÒ. The Northeast and Midwest recorded month-over-month reductions, while the South and West posted monthly gains. All four U.S. regions saw year-over-year decreases in transactions, with the West experiencing the largest decline at 37.5%.

The Pending Home Sales Index (PHSI)* — a forward-looking indicator of home sales based on contract signings — improved 2.5% to 76.9 in December. Year-over-year, pending transactions dropped by 33.8%. An index of 100 is equal to the level of contract activity in 2001.

“This recent low point in home sales activity is likely over,” said NAR Chief Economist Lawrence Yun. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

Pending Home Sales Regional Breakdown

The Northeast PHSI dropped 6.5% from last month to 64.7, a decrease of 32.5% from December 2021. The Midwest index shrank 0.3% to 77.6 in December, a decline of 30.1% from one year ago.

The South PHSI rose 6.1% to 94.1 in December, dropping 34.5% from the prior year. The West index advanced 6.4% in December to 58.6, decreasing 37.5% from December 2021.

“The new normal for mortgage rates will likely be in the 5.5% to 6.5% range,” Yun added. “Job gains will steadily become important in driving local home-sales markets. The South, in particular, is set to outperform the rest of the country, thanks primarily to better job market conditions in this part of the country compared to other regions.”

The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.

Posted On Friday, 27 January 2023 07:16 Written by
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