So how about that election? Great news for listing agents all over the country as a rush of new listings flood the market from all the people who promised to leave the country creates an inventory rich environment! Now obviously we all know that much of the threats were just political talk with no intention of actually leaving. But we need to realize that this election will have an impact on our business, much of which we will have to wait and see. That said, we need to focus on the conversations that will be productive for us.
It will take time before anyone knows for sure what will happen, but what we can focus on now are two dates; November 28th and December 5th. For most of my followers, November 28th will be the last day to take in a complete loan package that can close before Christmas. December 5th is likely the last day to take a complete file in that will close before the end of 2016. Plain and simple, focus on what you know you can do that has a direct impact on people TODAY!
Conversations are likely all over the place about rates and possible changes to regulations. While that is likely to be something we will have to deal with, don’t get caught in the trap of being a prognosticator! After all, we see how well professional predictors of elections have fallen all over themselves trying to explain this elections outcome. Don’t engage. Just focus day by day on two simple things:
- Telling people how many days left to get their deal done.
- Deal with today; if the deal is good for you today, take the deal!
There will be plenty of time to see how this election will change our business. I am certain that many things that are true today, will not be so months from now. Just like in the past, it will be how we handle and explain these coming changes to those who have questions, that will determine how well we do, and how many relationships we support.
Last year at this time we were dealing with TRID. Some did the work and were ready with a plan and a strategy that focused on getting better on our files upfront, so that we could still close out deals in less than 30 days. Many of you were prepared and have seen a huge increase in the quality and quantity of your referrals and referral partners because you were prepared and focused on the solution. However many were not prepared or focused on a solution and they are either already out of the business, or are falling off dramatically. The market wouldn’t accept 45-60 closings, so those that had a solution grew as others failed.
The solution to this change is focus on today. If the deal works for you today, take the deal. We have no idea what the future holds. We have no idea for sure what the next six months will look like. So don’t get trapped in the prediction game. Know the rules today, and be prepared to make adjustments tomorrow!