🏡 Big news for real estate professionals! The National Association of Realtors settled the commission lawsuit for $418 million, bringing major changes by mid-July. Here's what you need to know:

1️⃣ Compensation disclosure on MLS listings is changing. Sellers can still compensate buyer agents, but it won't be as explicit.

2️⃣ Buyer agency contracts will be mandatory before property showings, potentially affecting current business practices.

Stay ahead with these tips:

Develop efficient systems to handle compensation inquiries. ✅
Ensure buyer presentations highlight your unique value. ✅
Focus on client needs amidst legal changes. ✅
Embrace education over defensiveness to attract clients. ✅
Face the storm head-on, adapting your business for success. ✅

Let's navigate these changes together! 🌟 Schedule a call and learn about our team! https://calendly.com/tomtoole

Navigating the NAR Settlement - Agent Hacks 308

Last week, Jerome Powell and President Biden addressed critical housing issues. Let's unpack it all. 👀

President Biden discussed a $418 million settlement, pending changes set for mid-July. Notably, compensation offers will be removed from the MLS, and buyers must sign contracts before touring homes. 🏡

However, Biden's claim of newfound commission negotiation rights is inaccurate. Commissions have always been negotiable. ❌

Meanwhile, Jerome Powell highlighted subdued housing activity due to higher rates, suggesting stable rates in the near future. 📈

With these changes, it's crucial to understand the financial implications. Whether buying or selling, discuss costs and monthly payments with your real estate agent. Transparency is key, ensuring informed decisions amid evolving regulations. 🤝

Schedule a discovery call with our team! https://calendly.com/tomtoole

Breaking Down Biden's Housing Settlement & Powell's Insights - Tom's Take 368

In navigating the evolving real estate landscape, optimizing first appointments and pre-appointment rituals is key. 🔑 Here's how:

➡️ Send a personalized pre-appointment email with essential documents. During the confirmation call, ask crucial questions to understand the client's needs without overwhelming them.

➡️ For seller appointments, discuss home value, mortgages, and backup plans. In buyer appointments, address financial aspects and educate them on the buying process.

By preparing effectively and asking the right questions, you demonstrate your expertise, leading to more successful appointments and increased sales. 👏

Learn more about joining our team & schedule a call! 📲 https://calendly.com/tomtoole

Your Appointment Prep is More Important Than Ever - Agent Hacks 309

📉 Jerome Powell's latest statement on interest rates is crucial. He doesn't expect rates to return to pre-pandemic lows, and that's significant for anyone considering real estate decisions in the next 6 to 24 months.

🏠 Rates were in the mid fours pre-pandemic, but projections suggest they'll be in the low sixes by 2024. Waiting for lower rates isn't wise due to potential inflation risks.

🔍 Over 86% of homeowners have rates at 6% or less, and home prices are appreciating, especially in certain areas. Waiting may mean missing out on equity and paying rent without building equity.

💼 For sellers, rising inventory suggests now might be the time to act, especially if cashing out or moving elsewhere.

⏰ Don't bank on rates dropping further. If a home purchase opportunity aligns with your goals, it might be wise to act sooner rather than later.

✅ Considering these factors, it's crucial to strategize with a professional to make informed decisions. Schedule a discovery call with our team! ➡️ https://calendly.com/tomtoole

Real Estate Insights Amidst Interest Rate Shifts - Tom's Take 369

Empower through education, not defense. 👊

Sharran Srivatsaa, President of Real Brokerage, sheds light on the intricate dynamics of the housing market. 👀

In today's market, understanding data is paramount, especially post-NAR settlement revelations. 📊

Navigating mortgage rates and inventory trends? ➡️ It's crucial to arm ourselves with knowledge and pose the right questions.

Rather than waiting for lower rates, let's delve into the data and understand its implications. 

Facing inventory challenges? Let's delve into the facts and figures to make informed decisions. 

Engage, don't lecture. Empower with data-driven insights. ✨

These strategic approaches will equip you to guide consumers through the complexities of the market confidently. 🤝

Ready to propel your business with our team? Schedule a discovery call!

Navigate Today's Market: Empower Through Education - Agent Hacks 310

Looking for more homes on the market? 👀 Insights from the latest NAR report show various reasons behind the move:

Many are seeking closer ties, while others need more space due to family changes. Some find their neighborhood less desirable, or their current homes too large. Job relocation, retirement, and health or financial concerns also play a role. 🏡

Despite rising listings, don't expect a sudden surge in inventory. It's crucial to be prepared:

-Ensure your finances and credit are in order. 💰
-Understand the costs involved in buying and selling. 📊
--Plan ahead for unexpected challenges.👏

In terms of demographics, Gen Xers and younger boomers are leading home sellers, with a significant portion being married couples. 

Ready to make a move? Act quickly when the right property appears! Schedule a call with our team for personalized insights. ☎️ https://calendly.com/tomtoole

2024 Housing Trends: Prepare for Your Next Move! - Tom's Take 370

Ever felt anxious about reaching out to your network? Amy Q from our team nailed it, landing a $1,000,000+ listing.

Amy's secret? Transitioning smoothly from social to business, she treated her friend like a client, avoiding a casual approach. 🤝

By sticking to her playbook and implementing our training, she secured a listing and a raving fan. Lesson learned: Treat friends like clients, and watch your business grow! 🚀

Ready to grow your business with our team? Reach out directly or schedule a call! 📲 https://calendly.com/tomtoole

Turn Social Connections into Lucrative Listings with Amy Quaciari - Agent Hacks 311

Curious About Mortgage Rates Amid Iran-Israel Conflict?

Let's explore how this situation could impact mortgage rates and the housing market.

📈 Some speculate rates might drop due to the conflict, while others predict the Fed could delay rate cuts.

🔍 Last week's CPI data surged, pushing rates up. Additionally, inventory is increasing, prompting price adjustments.

⚖️ Higher rates may affect both buyers and sellers. Sellers may consider expediting sales with rising inventory, while buyers may focus on properties with longer time on the market and stable prices.

💼 Take time to gather information and consult with a local agent for tailored advice. Make decisions that align with your household's needs.

If you want to discuss this further, schedule a call with our team ➡️ https://calendly.com/tomtoole

What does the Iran and Israel conflict mean for mortgage rates? - Tom's Take 371

🆕 Stay up to date on all the latest topics while Tom Toole, Sarah Tymon and Stacey Mitchell give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:
⚠️ • Will war in the middle east force rates down?
🏠 • Home Services Petition denied by Supreme Court
🛠 • Pros and cons of a fixer upper purchase

Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 4.16.24

📸 Here's a snapshot: Recent data reveals a 4.7% increase in new purchase contracts, alongside a 3.3% rise in listings. Median prices are up by 11.4%, with inventory also growing by 4%. 

This means more options for buyers, though showings have dipped by 20.8%. 📉

Nationally, single-family home inventory is steadily increasing, providing a boon for both buyers and sellers. In terms of year-over-year comparison, the Philly area is outperforming the national average, boasting a 7.9% increase in prices compared to the national 4.6%. 🏡

🔍 Looking ahead, there's a predicted 1.6% price growth by next year. 

For sellers, it's an opportune time to capitalize on high prices and growing inventory. 💰

Buyers can benefit from a stable market and potential for long-term investment. 👏

Considering alternatives and seeking expert advice is key for navigating these shifting dynamics. Questions? Reach out for personalized guidance! 📲 https://calendly.com/tomtoole

March 2024 Market Update - Tom's Take 372

50% of buyers demand more proactive agents. 👀

To thrive, agents must adapt. 👏

Here's how: 

1️⃣ Don't over-filter searches; show diverse options. 
2️⃣ Offer nearby alternatives for broader perspective. 
3️⃣ Present fixer-uppers; 73% are open to them. 
4️⃣ Actively send listings, don't rely solely on automation. 
5️⃣ Target homes with longer days on market for potential negotiation. 

Leverage networks for inside info. Don't wait for calls; buyers want proactive agents. 🎉

Be the hero they need! 

Learn more about the exclusive training on our team and schedule a discovery call ➡️ https://calendly.com/tomtoole

Winning Strategies for Today's Buyers - Agent Hacks 313

🆕 Stay up to date on all the latest topics while Tom Toole, Sarah Tymon and Stacey Mitchell give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:
🏡 • Finally inventory growth
🔍 • Realtor.com OPED and marketing campaign
✅ • Power of being specific

Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 4.24.24

Locally and nationally, there's been a notable increase in new listings hitting the market. 📍 In the Philadelphia area alone, we've seen a 5.8% rise year over year. Nationally, 72,000 unsold listings emerged, with 21,000 immediately sold. 🏡

Although this is a positive trend, it's still 20% below pre-pandemic levels. 📊

Buyers, take note: 32.5% of listed homes have seen price cuts, offering room for negotiation. 👀

For sellers, there's still an opportunity to capitalize on high prices, especially with immediate sales at 22.5%.  👏

Remember, prices are still on the rise, making now a good time to secure a home. ⏰

With sellers re-entering the market, buyers have more options than before. 🎉

Ready to buy and/or sell? ➡️ Schedule a call with our team! https://calendly.com/tomtoole

Real Estate Update: Sellers Return & What It Means for Buyers - Tom's Take 373

In real estate, follow-up is everything. 

Yet, many agents miss the mark, only checking in a few times. To stand out, offer value in every interaction. 

Share local market insights and understand prospects' motivations. 

Play the long game, nurturing leads for future success. 

Become a financing expert to guide clients effectively. 

And prioritize face-to-face meetings—they're the key to closing deals. 

Elevate your follow-up game for lasting connections and real results. 

 
Learn more about our team  https://calendly.com/tomtoole

Agent Hacks AudMastering Real Estate Follow-Up: Keys to Lasting Success - Agent Hacks 314io

🆕 Stay up to date on all the latest topics while Tom Toole, Sarah Tymon and Stacey Mitchell give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

 👉 This weeks topic recap:
📈 • Rates continuing to rise
🤔 • Kevin Sears interview
🏡 • NAR settlements
Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 4.30.24

April inventory and active listings surged by over 30% across the U.S. from 2023 to 2024, indicating a significant increase in available homes. 📈

In April 2023, there were 562,966 new and active listings, compared to 734,318 in April 2024, nearing pre-pandemic levels. This rise benefits both sellers and buyers, offering more options and potential deals. 🏡

In Pennsylvania, we've seen a 6.7% increase year over year. ➡️ This means more choices for buyers who may have felt limited before. Sellers should keep an eye on inventory trends to strategize effectively.

With stable interest rates, serious buyers are active, but sellers should be mindful of increasing competition. It's essential to adapt to changing market dynamics and consult with professionals to make informed decisions. ✅

Schedule a call with our team to discuss how these trends could impact your real estate plans. 📲https://calendly.com/tomtoole

More videos like this  youtube.com/tomtoole3rd

April 2024 Inventory Surge - Tom's Take 374

Exciting news for the housing market! 👀

In Q1, 93% of housing markets saw prices rise, with 30% experiencing double-digit appreciation. 📈

Affordability is improving too, especially for first-time homebuyers. 🏡

Sellers, take note: inventory is growing and prices are up. Consider listing sooner rather than later to avoid competition. 

Buyers, don't wait for rates or prices to drop; they're projected to remain stable or rise. 

Make informed decisions with our expert guidance. Schedule a call with our team for personalized advice! 📲 https://calendly.com/tomtoole

Home Value & Affordability Updates - Tom's Take 375

Keith Lombardi's blazing a trail with two sales every month this year. But what's fueling his success? 👀



In a tough market where half the agents didn't sell a home last year, Keith's consistency stands out. His secret? Setting realistic expectations from the get-go. Sure, the market's tough, but knowing what to expect keeps you focused on the end goal. 👏



Navigating multiple offers and tricky negotiations is an art. Keith's advice? Build rapport, communicate openly, and be flexible. It's not just about transactions; it's about relationships. 🤝



Preparation is key. Meeting buyers beforehand ensures they're ready to make informed decisions. And being nice? It goes a long way in negotiations.



Communication is everything. Whether it's with clients or other agents, keeping the dialogue open ensures smoother transactions. 🏡



Consistency is king. Dedicate time daily to reach out, provide value, and treat real estate like the business it is. The effort you put in reflects the success you'll see. 🎉



In a nutshell, Keith's approach is a masterclass in consistency. Watch, learn, and get in touch if you want to thrive in today's market. Keep shining, Keith! 🌟



Learn more about our team and schedule a call! 📲 https://calendly.com/tomtoole



More videos like this! 🎥 youtube.com/tomtoole3rd

The Secrets to Consistent Real Estate Success with Keith Lombardi - Agent Hacks 316

🆕 Stay up to date on all the latest topics while Tom Toole and Sarah Tymon give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:
🤔 • Mixed signals for Spring Market
🔎 • CoStar and RDC
🏡 • RoofMax

Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 5.14.24

Inflation data came in favorably last week, causing the ten-year yield to drop and mortgage rates to fall into the mid to high 6% range. This is great news for homebuyers and sellers.👀

Inflation for April was 0.3% higher than March but below expectations at 3.4% year-over-year. The ten-year yield dropped to 4.3-4.4%, and mortgage rates dipped below 7% for the first time in weeks. This is positive for buyers and sellers. 📉

The Federal Reserve is expected to keep rates the same at their next meeting, with possible rate cuts later in the year. This is the lowest mortgage rate in six weeks, and affordability has improved as inventory grows. In Pennsylvania, inventory is up 6.7% year-over-year. 🏡

If you're considering selling, now is a good time due to growing inventory and lower rates. Don't wait for prices to rise further as inventory increases in states like Florida, Arizona, the Carolinas, and Texas. 🤝

If you're looking to buy, take advantage of the lower rates. Time on market has increased, giving buyers more opportunities to make offers. Schedule a call with our team to understand your local market conditions and make informed decisions. 📲 https://calendly.com/tomtoole

Inflation Drop: Lower Mortgage Rates & Growing Inventory - Tom's Take 376

Recently, Ashley had an "a-ha!" moment with a client inquiry. Instead of settling for the only time the client initially suggested, Ashley offered two alternative times. This approach led to securing a $700,000 buyer! 🏡💪

Key takeaway? Always offer options. 🕒✨

Ashley suggests offering two different times that work for you. Most likely, one will work for the buyer. Keep it short and simple. This way, clients can't push back as much.

Pro tip: Stick to the script – "Unfortunately, that time doesn't work. How about earlier at 9 AM or tomorrow at 12 PM?" 🎯

Remember, flexibility is key, and clients love options. 🗝️

Way to go, Ashley! 🙌

How Offering Options Secured a $700,000 Buyer: Pro Tips from Ashley Torchia - Agent Hacks 317

🆕Stay up to date on all the latest topics while Tom Toole and Sarah Tymon give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:
⬇️ • Rates are coming down…
🤔 • Its time to choose… are you with the agents of change?
🌴 • Vacation Weekends = Opportunities

Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 5.21.24

Curious about market trends? I've got you covered! From sales stats to what it means for you, let's dive in.

🏡 Sales Data: Up in Chester & Delaware, flat in Montgomery, down slightly in Philly.
💰 Median Sale Prices: Surging in the suburbs, up 9-15.2%! Philly up 2.9%.
📈 New Listings: Growing in the suburbs, down slightly in Philly.
🤝 Pending Sales: Up in the suburbs, down slightly in Philly.
📉 Mortgage Rates: Settling around 6.75%.

What does it all mean? Here's the scoop:

🔍 Sellers: Rising inventory means planning is key. Philly's market varies by neighborhood!
🏠 Buyers: Act fast! Low mortgage rates and growing inventory mean competition is heating up.
💼 Get Expert Advice: With changing market dynamics, having a savvy agent on your side is crucial for success.

Ready to make a move? Let's chat! 📞 https://calendly.com/tomtoole

April 2024 Market Update - Tom's Take 377

Summer vacation is here, but many real estate agents don’t plan ahead, risking their business. ☀️ Here’s how to take time off without losing clients:



📆 Plan Your Calendar:

-Schedule your vacation when others are off, like around Memorial Day, to avoid missing out on business.

-Be clear about your working and non-working days to maintain balance.'



⭐️ Set Goals:

-Define your summer targets, like how many houses to sell.

-Reverse-engineer these goals: determine how many appointments and conversations you need daily.



✅ Create a Vacation Plan:

-Arrange coverage in advance with a colleague or team member.

-Ensure all communications and urgent matters are handled so you can truly relax.



📲 Stay Connected:

-Check your CRM and messages daily to ensure nothing falls through the cracks.

-Handle low-hanging fruit and urgent inquiries even while away.



Remember, planning ahead helps you enjoy your break while keeping your business running smoothly.🤝 



Learn about joining our team ➡️ https://calendly.com/tomtoole

More videos like this ➡️ youtube.com/tomtoole3rd

Essential Vacation Planning for Real Estate Agents - Agent Hacks 318

🆕 Stay up to date on all the latest topics while Tom Toole and Sarah Tymon give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉This weeks topic recap:
🏡 • Inventory growth & rates
✅ • The DOJ
🤝 • Keith Lombardi

Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 5.28.24

Exciting news from the VA about buyer agency compensation to ensure veterans aren't disadvantaged post-NAR settlement. 👀

The VA's current rule prevents veteran buyers from being charged a fee related to a buyer broker, putting them at a disadvantage if sellers don't offer compensation. At a recent Mortgage Bankers Association conference, the VA announced they’ll release a circular in June to address this issue. ✅

We anticipate other financing bodies, like FHA, may also adjust their rules to allow larger concessions, helping buyers finance these commissions. Notably, major MLS systems are now permitting fields for seller-offered concessions, enhancing transparency for buyers.

These changes are crucial for anyone buying or selling a home. 🏡 Make sure your agent is up-to-date and can navigate these new regulations, review closing costs with you, and maintain open, transparent communication. Stay tuned for more updates and ensure you're working with the right professional for your real estate needs. Schedule a call with our team! ➡️ https://calendly.com/tomtoole

New Changes to VA Loans as Result of NAR Settlement - Tom's Take 378

The May jobs report is out with 272,000 jobs added and unemployment hitting 4%. What does this mean for real estate? 👀🏡

Here's a quick breakdown:
➡️ Jobs Added: 272,000, significantly above the 190,000 expected.
➡️ Unemployment Rate: Up to 4%, the highest since January 2022.
➡️ Wages: Increased by 0.4% from last month and 4.1% year-over-year.

Market Impact:
➡️ Federal Reserve: Likely to keep rates steady, with no cuts expected soon.
➡️ Mortgage Rates: Predicted to remain stable, with no significant drops in sight.

Advice for Buyers:
➡️ Expect steady mortgage rates.
➡️ Inventory is rising, which might offer more opportunities.
➡️ Focus on purchasing now rather than waiting for lower rates, which might not come soon.

Advice for Sellers:
➡️ Current market conditions may be optimal for selling.
➡️ Increased inventory might reduce your leverage over time.

For personalized advice, schedule a call with our team! ☎️ https://calendly.com/tomtoole

How the May Jobs Report Impacts Your Real Estate Plans - Tom' Take 379

Want more reviews and referrals from your clients? 👀

Here’s a simple 3-point plan:

1. Do a Great Job: Ensure you excel during transactions. Be transparent, overcommunicate, and avoid hiccups. Great service makes you referable and reviewable. 🎉

2. Timed Asks: Request reviews and referrals at high points, like after a successful negotiation. A well-timed ask can yield great results. ⏰

3. Stay in Touch: Maintain contact post-settlement. Follow up on anniversaries and stay top of mind to encourage more reviews and referrals. 📲

Check out other episodes of Agent Hacks for more tips! Ready to grow your business? Schedule a call with us! 👏 https://calendly.com/tomtoole

Three Easy Steps To Get More Reviews and Referrals  - Agent Hacks 320gent Hacks Audio

🆕 Stay up to date on all the latest topics while Tom Toole and special guests, Zahra Saleh and Anthony Capodanno give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:
📝 • Job report & upcoming FED meeting
✅ • Jimmy Burgess gives business advice
👏 • Zahra & Anthony

Catch the full episode of #TooleTime here​ ➡️
http://bit.ly/TooleTime

Toole Time 6.11.24

The Federal Reserve kept the federal funds rate unchanged last week at 5.25% to 5.50%, with favorable CPI data showing lower-than-expected inflation, leading to positive market reactions, including a rise in the Dow and a slight drop in mortgage rates. 👀

Sellers: Don't wait for rates to drop dramatically. 📉 Significant drops would likely require a major economic downturn.

Buyers: Now is a good time to start looking. Lower rates mean more serious buyers and increased competition if rates drop further. 🏡

The Fed plans one rate cut in 2024 and more in 2025, maintaining a steady rate policy with a target of 2% inflation. 🎯


Inventory is increasing, offering more options but also more competition. With the Fed's clear stance on rate policy, it’s time to make informed real estate decisions rather than trying to time the market. 🤝

For a detailed discussion on how these changes impact your plans, schedule a call with our expert team. 📲 https://calendly.com/tomtoole

Fed Rate Hold & Its Impact on Real Estate! - Tom's Take 380

Struggling with time management as a real estate agent?😬 With more three-day weekends and early Fridays, it's crucial to maximize your time. Here's a quick breakdown of the three key areas to focus on:

1. Appointments: Schedule smartly. Block specific time slots (e.g., 1-3 PM, 3-5 PM) to manage travel and client meetings efficiently. ⏰

2. Lead Generation & Follow-Up: Dedicate mornings to prospecting and follow-ups. Prioritize calling clients, working your CRM, and sending necessary information. ☎️

3. Skill Building: Spend time daily on role-playing, learning market trends, and understanding financing options. This ensures you're well-prepared for client questions. 📝

Plan your week carefully, especially if you're taking long weekends. Aim to be productive Monday through Thursday to enjoy your time off guilt-free. 👏

To learn about joining our team for more personalized coaching, schedule a call!

Top 3 Time Management Tips for Real Estate Agents - Agent Hacks 321

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.

The Tom Toole Sales Group Podcast

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