March 17th, Monday Market Update and Mindset Call with Nikki, Cari and Angie

03/17/25 • 16 min

Real Estate Agent Market Update and Mindset Podcast

Mortgage expert Nikki explains the critical importance of using proper language in purchase agreement addendums and how seemingly innocent terminology can create significant issues for mortgage approval. Proper communication between real estate agents and lenders before drafting addendums can prevent costly mistakes and ensure smoother transactions.
• Market update: Fed meeting expected this week with no anticipated rate cuts but updated economic projections
• Interest rates seeing slight increase due to market uncertainty but trending back down to mid-to-high 6% range
• Reducing purchase price often better than large seller credits that buyers might not fully utilize
• Keep addendum language clean and simple to avoid triggering additional verification requirements
• New trend requiring formal acknowledgment when buyers change lenders mid-transaction
• Partnering with knowledgeable professionals crucial as guidelines constantly change
Reach out to Nikki or Angie with any questions about purchase agreement language or mortgage guidelines.

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Previous Episode

From Lead Chasing to Lead Creation: Transforming Your Real Estate Business

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I continue to see agents ignoring their most valuable asset while chasing expensive leads and giving away half their commission.

Your database of past clients and sphere represents an untapped goldmine of business opportunity that most agents aren't leveraging effectively.

I call it your Databank!!
• Stop stepping over $100 bills to pick up pennies by ignoring your database
• Each past client knows 250-600 people who could potentially need real estate services
• Don't let fear of reconnecting stop you from reaching out to past clients
• Stay top-of-mind through consistent, strategic communication
• Conversations equal currency—the more touchpoints, the more business
• Fall in love with sales or consider leaving the business
• True leaders take 100% responsibility for their results
• Never cap your goals—aim for "this or better" rather than limiting yourself
Ready to transform your real estate business and tap into your database properly? I provide elite-level coaching without the expensive team splits or monthly fees. Reach out to learn how to get from where you are to where you want to be.

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Next Episode

Build Your Own Wealth, Not Someone Else's: A Real Estate Revolution

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The real estate industry is undergoing dramatic changes with brokerages taking on private equity, reshuffling leadership, and adapting their business models to survive in the evolving market.

As agents, we must balance serving our clients excellently while also staying informed about industry developments that directly impact our businesses and long-term wealth creation.

Topic Covered in this episode:
• Traditional brick-and-mortar brokerages have multiple layers of ownership where commissions flow up from agents to team leads, franchise owners, and corporate leadership

• The transformation in real estate parallels other industries that were disrupted by technology platforms (Netflix vs Blockbuster, Uber vs taxis)

• Building your own wealth rather than someone else's - get an exit strategy!! Creating an exit strategy in real estate allows agents to build willable assets and avoid selling homes into their 70s

• Having the right business partners can accelerate success by providing strategic advantages and industry insights

Reach out to explore partnership opportunities that could help you build wealth while still providing excellent service to your clients. You don't need to choose between client service and business awareness—the most successful agents excel at both.

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Real Estate Agent Market Update and Mindset Podcast - March 17th, Monday Market Update and Mindset Call with Nikki, Cari and Angie

Transcript

Speaker 100:00:38.024

All right , good morning , everyone , welcome . Or afternoon , or , if you're watching the recording , hello . Welcome to the Monday Market Update in Mindset Call with Nikki , myself and Keri . Today is March 17th , so , nikki , let us know all we need to know for the week .

Speaker 200:00:55.599

Absolutely Well . Happy St Patrick's Day everyone , and happy bi