New: 🧠 Market Minds Issue #015

We appreciate each and every one of you for taking the time to read Market Minds. Buckle up and enjoy the free value - and you won’t want to miss the crazy listing that Amazon Prime can’t make it to.

The “Bigger” Problem

In a recent appearance at the Crush It in Real Estate conference in Boston, National Association of Realtors (NAR) President Kevin Sears warned agents that the U.S. Department of Justice (DOJ) will be a "bigger problem" for brokers and agents than a multibillion-dollar verdict in an antitrust commission suit.

Sears, who took over as NAR president after Tracy Kasper resigned, addressed the lawsuit known as Sitzer | Burnett, which alleges that certain NAR rules violate the Sherman Antitrust Act by inflating seller costs.

Sears emphasized that the DOJ poses a greater threat to brokers and agents than the Sitzer | Burnett verdict. He believes that the DOJ's actions will bring about significant changes in the real estate industry, whether agents embrace them or have them "forced down our throats."

Are you in agreement with Sears?

Jimmy Mackin’s Guide to More Listings

During the BAM Pro Bowl, Jimmy Mackin pointed out, “Good markets create bad habits.” It’s been a hard lesson for many agents to learn during the past couple of years.

That’s why his entire session focused on listing strategies for real estate agents—or really anyone interested in having more conversations, booking more appointments, and closing more sales in 2024.

Here are his top listing strategies:

1. Send an unsolicited CMA: One, every day

2. Equity update poll: Post it on your Instagram or Facebook story. If someone responds with yes, slide into those DM’s and ask for their address

3. Equity update email: Share some successful results from one of your previous CMA’s and send an email asking if you can put one together for their home

4. Equity update direct mail: ‘We recently [successful result from past seller client] … You live in a highly desirable neighborhood … Text me your address if you’d like an equity update on your home.”

View the full article here.

Rental Rollercoaster Update

Rents in the United States have remained relatively stable over the past year, with a modest 1% increase in January. This is a significant departure from the double-digit growth experienced during the height of the pandemic. Landlords are finding it challenging to raise prices as they contend with rising vacancies and the waning effects of the housing frenzy caused by the pandemic.

The median asking rent in the US rose by 1.1% year over year to $1,964 in January, marking the largest annual increase since March 2023. However, there was no change from the previous month. While there has been a slight uptick in rents compared to the previous year, the overall trend indicates that rent growth is leveling off after the surge seen during the pandemic and the subsequent slowdown from mid-2022 to mid-2023.

48 Leads in 48 Hours with $0 Spent, Guaranteed!

Implement our Facebook strategy to learn how to generate leads on autopilot without paying Google or a marketing company hundreds if not thousands of dollars to do so.

Or even better - without spending any money at all.

If you’re committed to starting 2024 strong, try it out here. If you wouldn’t jump into shark-infested waters after 48 hours to keep the guide, we’ll give you your money back. And you can keep your 48+ leads, too.

Amazon Prime Canoe?

This White Bear Township, MN ISLAND (and home) can be yours for a cool $4.5M. View the full listing here.

Just don’t expect Amazon Prime to deliver here. 😂

TL;DR (Too Long; Didn’t Read)

At the Crush It in Real Estate conference, NAR President Kevin Sears cautioned that the U.S. Department of Justice poses a greater threat to brokers and agents than recent antitrust suits. Sears predicts significant changes in the real estate industry due to DOJ actions. Jimmy Mackin's guide focuses on listing strategies, emphasizing the importance of proactive communication and equity updates. Rental market trends show stable rents with modest growth, indicating a leveling off after pandemic-induced fluctuations. You can buy an island in MN for $4.5 - the house is truly stunning.

Have a great weekend - we’ll see you next Saturday.

Cheers 🍻

-Market Minds Team