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Welcome to the Commission Queen podcast. Commission queen is for women real estate agents that are craving success and want to do things differently. We talk all things manifesting money, and of course, real estate. I'm your host, Bekkah, Marie. And just like you, I'm a real estate agent, I went from struggling to get clients to making over six figures consistently, while working 15 hours or less each week. And now I coach women like you on how to do the same. Listen for real life examples and tips in every episode on how to massively increase your income and find your freedom with ease. You're here because you're ready to change your life, your business and your financial status. So let's do it. Hello, hello, Queens, welcome back to a another episode. And today is a big topic. It is something that everybody is talking about right now. Not just realtors, not just agent, not just investors, it's literally everyone, or at least it definitely feels that way. Right? Okay, the topic is the market, the market is crashing, is the market going to crash? Finally, the market is cooling down, what is going to happen? Everybody is in a panic of frenzy, and worried about what's to come with real estate. I'm sure this is happening for you too. But for me in the last two weeks, it feels like every single person that I come into contact with and that knows I'm a realtor asks me, how's the market doing? What are your thoughts on the market? Are you worried about the market? This is one that I've gotten a lot. And I always just kind of laugh? And I'm like, No,
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I'm I'm not worried? Why should I be worried? You know, I'm interested to hear why they think that I shouldn't be worried. But everybody is concerned and worried about the market about the market crashing, bringing down those home values that have been skyrocketing for the last several years. Now, I am a huge believer in the collective consciousness, like, as a whole, as a society as a collective, there are these mass thoughts that are happening at a major scale, right, where the collective is thinking these things, having these patterns, it goes in waves and cycles, and trends. And there's usually these main thoughts, you'll see this with generations, you know, several generations kind of act the same, but also collectively as a whole in what the world is doing or your country, you'll see similar patterns that are happening. And as manifester is believing that we create our world create our reality through our thoughts, our patterns and beliefs. We do this on a small scale. But of course, this happens on the larger scale as well. So when thinking about this whole market crashing thing, you can see how this has happened, right? For years and years now, the news, the so called experts, probably your office. I mean, everybody, it seems has had this idea that okay, yes, we've had 10 years of a great market, and it's kept going up. And it just can't keep going like this. You know, you've heard that time and time again, I've heard people say it just can't keep going like this. And just bringing this back to just in general, where we get these ideas from, that things can keep getting better, because in society that collective conscious has taught us that it can't keep being this good and enjoy it while it lasts. Because it's never going to last, which yes, in some ways. That is true. Because there are seasons to life, there are cycles, and there is duality in life. But it's that idea that as soon as something gets good, we start to think, oh no, when is this going to end? And this is probably going to end soon. Because things are so good. And things can always get better for you. Okay, that was a tangent back to about the market. So what if instead of believing that the market was going to crash and then that was going to significantly affect you? What if you stayed strong in believing that you were an abundant agent, no matter what's happening in the market, no matter what's happening in your direct market, no matter what you are an abundant agent, while the collective may seem to be in a panic about what's happening in the market, thinking that it's going to crash and bring down business significantly. You do not have to subscribe to those beliefs. You get to choose your beliefs and you can choose that things are always getting better for you. And I'm going to give you a few reasons why this is no time for you to panic. In fact, this is time for you to step in and be your most confident self feeling. so abundant. And I'm actually going to hit you with some facts here. So here we go. Let's start off first with addressing the rising interest rates that everybody is talking about. Yes, the interest rates are higher, yes, they're rising, that makes payments higher. And of course, that brings some buyers out of where they were originally looking. Historically, we know that the market tends to cool from the top down, meaning it'll start to cool in like the multimillion dollar price point and down. So if you're working in those first time, homebuyer markets, or even the buy up markets, it's not like you won't have any clients and that nobody will be buying people are always buying, especially in those markets in where they're looking to get their first house, or they're looking to purchase their second house, the interest rates will probably cool off the market a little bit. And in a way, aren't we all a little bit glad about that. Because it has been so insane the last two years as a buyer's agent, if that's who you're working for, even as a seller's agent, it's
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like, okay, cool, we got 50 offers. Now, can we just go back to the good old days where we got like, five. So having that cool down, isn't going to make or break your business, people seem to think that because interest rates are rising, that everybody is just going to stop buying and selling homes. And that is just not the case. Back in the 1980s. In the early 1980s, the interest rates were as high as 18 Some percent. And in fact, I remember my parents, they always tell me when we bought our first house, it was 18%. Now Yeah, prices were lower back then. But if you look at 18%, on $100,000 loan, that is still like a $1,500 monthly payment in the 1980s. That's a big monthly payment, and 100,000 wasn't getting you a mansion. Now, of course, it depends on what market you are in. But you see what I'm saying there was still that huge price jump in mortgage rates in the 80s. And we have come a long way since there. And we are a long ways from an 18% interest rate. Right, we have a long ways to go for that. Now let's talk about the great housing crash of 2007 2008. That is the time that people always talk about and compare to now. So let's talk about that. In 2008, the housing markets saw an average of about a 10% drop in price, so a decrease in price. Now, yeah, that sounds like a big drop. But let's talk about in the last year, on average, markets have seen about a 15% growth rate that's on average. So some are a little bit less. And there are a lot of places that are a lot more than that in a year. So while a 10% drop seems hefty on its own, when you're comparing it to the growth rate that we've seen in the last year, going back 10%, we're still going to be higher than where we were a year and a half ago, even two, three years ago, the market was still great, your average sales price was still great, I'm sure. So it's not going to be that big of a difference in your business. Now, there is a stat that I once learned about an I have been looking everywhere for this info. And you're just gonna have to trust me on this deck because I couldn't find the exact stat. But basically, it was saying that, you know, everyone was talking about how in 2008 2009, there was a huge plummet in the amount of homes that were sold. And Realtors mind that means less homes for me to sell less closings, which sounds scary. And you know, in the newspapers and the news and like all of the things they were putting out these huge stats of like the number of homes sold is down huge percentages. And what it actually was, was the homes sold, the big percentage of homes sold that had declined was in new builds in new construction. In pre owned homes that have sold, they were pretty steady with what they had been. They were down just a little bit compared to new construction homes were down massively. If you're someone who deals with mainly new construction, this maybe doesn't give you a whole lot of solace. But maybe it gives you an idea of what to prepare for because that could be something that new construction homes could be down as interest rates rise, and the real estate market slows down a little bit. If you're someone that deals with mainly pre owned homes, then maybe that gives you some peace. Knowing cool, like those are always still going to be fairly steady. Yes, they dipped a little bit. But in a way they've also dipped for us in the last couple of years, because of the inventory being so extremely low. This next reason to be your most confident and abundant agent is the best, I'm so excited to share this with you, you are going to love it. Okay, in 2006, which was the height of the market ever in history at that time,
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there were 1.3 6 million agents, active licensed agents, the year before that 2005, there's almost 100,000 Less agents. So within a year, 100,000 new licensed agents are getting into the market or back into the market, because that was hot. I mean, the market was so hot, everybody could succeed in real estate, right? They're all saying this, and a lot of agents got into the real estate market in 2006 2007, is when the market starts to decline in 2008, there's that big decline. So the number of licensed agents went from let's call it 1.4 million in 2006. To 2008, there's about 1.2 million agents, the number of active agents declines every year, until we hit the bottom at 2012. Just under a million agents. So during that market slowdown, we saw about 30% of the agents leave the business. If you're someone that worries about competition, that's 30% of your competition gone.
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Seriously, don't you love that stat. I love it. By the way, all of these stats are from NAR. Okay. And now remember how we just talked about how 2006 to 2007, there was that huge jump about 100,000 in agents, new agents getting into the business, we saw the same 100,000 Jump in 2020 to 2021. Everybody getting into real estate because we have that hot market. And everybody thinks this is like the easiest job to make a lot of money. If you are a new agent, if you were an agent that got into the business in the last year or two, I want to make sure that you know yes, this is an incredible job and you can make amazing money with it. But just like the cycles are showing that a lot of agents do get out of the business, and you don't have to be one of them, you don't have to be one of them just because the market is going down, you can still have an incredible business and succeed and make the type of money that you want, no matter what the market is doing. If there is a market slowdown, we will likely see that huge drop and agents leaving the business too. So maybe that 20 30% of your competition, leaving the business leaving you ready for all of the closings. Hopefully you're starting to see why you do not have to be a part of that collective concern of what's going to happen with the market. Hopefully, when people are asking you about what's happening in the market, are you worried about your business or about the market real estate crash that you too, can laugh it off and know that you are going to be abundant in any market, there may be a shift in your strategies or a shift in who you're serving. But overall, there is still so much room for you to be successful. Even in the lowest of markets in any area. There are always those people that are still succeeding, still making the money that they want, still getting the clients that they enjoy. And that is because of their thinking. They are not getting into the collective conscious of worry and concern for what's happening in the market. And that can be you, you know that you are an active creator in your reality and your results. outside forces do not dictate what is going to happen to you in your business, no matter what you do want to prepare for a possible shift of what's happening in the market. And remember, use your subconscious mind to help you out. The subconscious mind is going to filter out and look for evidence of what we believe is true. So if we're listening to the media and the experts that are saying things are crashing, it's gonna be bad if we're listening to our office that saying you know business is gonna go down if those were the conversations that are being had, your subconscious mind is going to see those things pick out those things and point them out as evidence that yes The market is crashing, and this is going to hurt your business. For example, you may have some clients that say, Oh, we're not going to buy anymore because interest rates are going up and you're thinking, Oh, here it is, here's the start of my business crashing because of the market and the interest rates. Instead, take your focus and put it somewhere else, somewhere positive somewhere where you're wanting to go. So if you do happen to lose clients like that, look at okay, what space is that creating to bring in new ideal clients? How were those clients maybe not a good fit, and now I'm grateful that I have more space for more ideal clients. Keep the stats that I have given you, top of mind, like okay, the home prices are decreasing a little bit, but they've also gone up so significantly, that it won't make a dent in your business, that the number of home sales may decrease, but a lot of that historically, is in the new construction realm. And yes, if at the market cools down, so does your competition. And always keep in mind that the market does not determine your success, you determine your success, it can be easy to fall into that scarcity mindset, especially if it is surrounding you. And fear is a powerful thing. But here's what stronger than fear, gratitude, and action, gratitude and action will overcome any fears that you have. So have a practice that you can do daily or almost daily, that keeps you in gratitude keeps you in action, and keeps you focused on where you want to be in that abundant agent state. You know, my favorite practice is the wake up and manifest daily journal. So each prompt is going to keep your mind focused on where you want to go and help you with both the thoughts and actions to get there. And it takes like 510 minutes and I find it to be so so helpful in manifesting the outcomes that I want. screenshot this episode and tag me at commission Queen on Instagram and let me know where you're listening from gratitude and abundance queens.
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Thank you so much for joining me today. If you love this episode, hit that subscribe button and share a review I so appreciate every one of you. If you're not already following me on social media, you can find me at commission clean and go to commission clean.com To browse products and get more free content
Transcribed by https://otter.ai
