With the holidays behind us and a full 360 days in front of us, what intentions have you set for yourself this year? How do you intend to lay claim to your potential this year and does that mean coming up with new ways to do what you’ve always done? Or could you be called to expand into something new? PRESS PLAY on this episode to learn how to claim or reclaim your career identity in 2021, what sectors have adapted and sailed through the confines of pandemic culture, and what it takes to stake your claim as a sales professional in the real estate industry. Links mentioned on this episode: Download Your Free Guide: 7 Steps to Becoming a Rock Star REALTOR® https://www.denisepetti.com/rock Get your copy of the The Millionaire Real Estate Agent https://www.amazon.com/Millionaire-Real-Estate-Agent-About/dp/0071444041 Keller Williams Preferred Properties Virtual Career Night https://bit.ly/3oprSO6 ________________________________ Have a question about real estate? I'd love to help you out! Real Talk Q & A phone lines are open now at 1-844-5-BIG-RED and I’m here and ready to take your call. Connect with me on Instagram : https://www.instagram.com/denisepetti/ Connect with me on Facebook: https://www.facebook.com/denise.donnellypetti Visit my website: https://www.denisepetti.com/
With the holidays behind us and a full 360 days in front of us, what intentions have you set for yourself this year? How do you intend to lay claim to your potential this year and does that mean coming up with new ways to do what you’ve always done? Or could you be called to expand into something new?
PRESS PLAY on this episode to learn how to claim or reclaim your career identity in 2021, what sectors have adapted and sailed through the confines of pandemic culture, and what it takes to stake your claim as a sales professional in the real estate industry.
Links mentioned on this episode:
Download Your Free Guide: 7 Steps to Becoming a Rock Star REALTOR® https://www.denisepetti.com/rock
Get your copy of the The Millionaire Real Estate Agent https://www.amazon.com/Millionaire-Real-Estate-Agent-About/dp/0071444041
Keller Williams Preferred Properties Virtual Career Night https://bit.ly/3oprSO6
________________________________
Have a question about real estate? I'd love to help you out!
Real Talk Q & A phone lines are open now at 1-844-5-BIG-RED and I’m here and ready to take your call.
Connect with me on Instagram : https://www.instagram.com/denisepetti/
Connect with me on Facebook: https://www.facebook.com/denise.donnellypetti
Visit my website: https://www.denisepetti.com/
Well, it's finally and you year, who among us can't relate to bidding 2020 farewell an ringing in 2021 with much renewed enthusiasm. It's like we got to hit the collective reset button, so here we go with our resolutions to shed those extra pounds, earn some extra money, organize our lives, our clothes, our closets or photos or files.
Start that hobby. Learn that instrument, shred those abs.
And pursue with passion whatever dreams and desires we have in our hearts. That's what turning the Clock on 2021 feels like. This renewed sense of purpose of hope, of excitement, an possibility after a year of chaos and fear and loss and so many unknowns. It just feels nice to welcome hope and change for the better.
With the Holidays behind us now and a full 360 plus days ahead of us, what intentions have you set for yourself for this next year of your life? Well, we're going to talk about all that and more in this episode, and I also have a caller who wants to know what it takes to become a rock star.
Realtor, so stay tuned for real Talk with Big Red.
Live from the Wildfire podcasting studios. It's the real talk with Big Red Show where we keep it real with real estate agents and real life buyers and sellers. Lenders and landlords, vendors and investors, and anyone who's anyone that lives to inspire real success. I'm your host. Denise petty. My friends call me Big Red and this is your show where people, places and dreams come together.
Real talk Q&A phone lines are open now at 8445 Big Red and I'm here and ready to take your call.
Well, good day to you all and welcome to the real talk with Big Red podcast. I am your host in East Petty and today we're talking about how to embrace this new year with Hope, an enthusiasm life in 2020. Just to borrow a quote from my mother Irma, it really kicked us in the teeth, didn't it? Even though the Clock turned over from 20 to 21 were.
Still just dealing with these aftershocks and in many ways we still continue to quake and when we take a beat just to reflect on this year behind us, you know we've got this virus. Of course the lockdown the shift in remote work and schooling loss of income, loss of jobs. This is a collective trauma.
When you think about it, an we continue to navigate this as a culture. It's no small thing and I personally find it kind of strange, but also necessary. You know to that we greet this knew year with happiness an in fact with so many things careening off the rails, you know how can anyone feel really happy about anything?
So the careers that felt the largest impact and the sectors were there. You know the restaurant industry, the entertainment business. Of course, local merchants and small businesses who they couldn't afford to keep their doors open an when trying times hit. We're always told that we have to pivot and we have to shift.
We saw that with the restaurants adapting to outdoor serving and entertainers taking their shows online. Live corporate business is shifting just strictly remote models which we still see now and in my industry in the real estate world we maybe were perhaps one of the only industries that really didn't suffer tremendous loss. I mean, we definitely felt the impact of the virus in the first and second quarter.
And in my.
But many of us had really recovered by quarter three and four an for some of us.
You know, it kind of felt strange as we witnessed so many friends and family around us. You know, struggling in their own lines of work. So how do we adapt and pivot in 2021? How do we continue to evolve an these stimulus checks? You know, they're a fraction of what they were, and unemployment has been extended, but really only but just by a couple of weeks at best.
How do you intend to lay claim to your potential this year? And does that mean that you need to come up with knew, inventive ways to do what you've always done? Or could you be called to expand into something new so one of the questions I get asked frequently as a real estate agent is how we's age?
Have surfed this virus. How? If we how have we navigated this pandemic? You know, it just makes me think about how much of our sense of self is really wrapped up in our workplace identity with so much related to who we are and what we do when you go to a party and someone says, what do you do for a living? You know? So what do you do?
It is essentially who we are, and so when you feel like under siege in that sense you kind of don't know you have this. This loss of self. This sense of loss of identity so.
I think that's messed a little bit with our collective mental health as a society, and so it calls us to evaluate ways that we can shift from this place of.
You know, unrest and unemployment, anxiety to a more confident, secure place. You know we need to get rid of this.
Idea of paralysis around professional identity an there have been some lines of work that have managed to sustain themselves. There are certain jobs in industries that really just seem to be doing just fine, maybe even better. When you think about things like online retailing.
You know the transportation industry you know with all of the goods that need to go that a lot of the goods are shifting from the retail box store.
Is to more of an online Amazon shopping experience. And so all these goods have to go from one place to another. Obviously the medical field is extremely busy and there is this chart that I looked up so the US Bureau of Labor Statistics.
I'll put this link in the episode notes, but there are.
Employment and average average weekly earnings by industry. This was published in November of 2020 and it really shows breaks it down in these bubbles on this graph and it shows what it has been happening and how the different industries are responding to.
You know the current economic conditions of the country.
An transportation and warehousing, I mean, has really seen the biggest increase in earnings. So if you are looking for work and you're out of work, you might consider becoming a driver right? For one of these freight companies.
Transportation and warehousing. You might get a job in a warehouse like Amazon the next.
Growth sector was in professional and businesses, professional business services and followed by education and health care. So it's amazing you would think healthcare would be way out in front, but in fact it's the transportation and warehousing that's way out in front and it does make sense when you start thinking about online ordering, obviously.
You know, ordering for Christmas. I'm sure it deliveries were really, really spiking in the 4th.
Order
And you know professional and business services. That's that's real estate. That's us. So we have had a heck of a year, you know, with with the buyers flocking to purchase, we had a sellers market, inflated home values. We've talked about that in the last couple episodes, and you know. And then, of course, education and health care so.
All these sectors have had to adapt.
Education has had to adapt with these online learning models and apps. You know, Google Classroom has been really, I don't. I don't know how much of this could have.
Happened with remote education without Google Classroom and then, you know, we know that, especially in real estate with all the loans with the mortgage lenders and with the title agents, we know that everyone has been so bogged down and even in the corporate world there's just everyone is moving away from that.
Corporate structure and they're allowing all of their employees to work from home, and what we're seeing is that even working remotely, it hasn't affected productivity. In fact, it actually has increased productivity in many ways.
An US as Realtors. We have noticed that we've had to really adapt and become more digitally.
In touch with our buyers. So we've had to really enhance our virtual presence. So it's one thing to have a web presence and have a social media presence is another.
In all, together to have a, you know a nimble agile virtual response. So when someone wants to do a FaceTime tour of a property because maybe they live out of state, or you know you might have to do a virtual open house because we're on lockdown and.
The sellers don't want anybody in their home.
So there's these ways that we've had to adapt and really become way more agile. Those of us who opted not to shift and pivot probably solve the results in our proceeds in our opportunities and in our profits. Those who did choose to adapt and say, well, you know, I have to ratchet up.
My virtual presence in my digital book it.
You know, we really did notice that the numbers followed, so that in mind I do have a caller who's interested in learning a little bit more about the real estate industry.
Hey big red. My name is Jaron. A few years out of college and living in Los Angeles, CA. I was fortunate enough to land a job in pharmaceutical sales and our company and industry is doing just fine. But I've been thinking a lot about becoming a real estate agent. I think I'd be successful as an agent and I've noticed how well the agents in my area have been doing.
My question is this, what does it take to become a successful real estate agent? Is it worth leaving the security of my present situation to try it out, or is there a way I can sort of dip my toe in the real estate waters without risking the security and income that comes with the job I currently have? Thanks big red.
What a great question and Jaron thanks so much for that call. You know I give you a lot of credit for you know being so fresh out of school and already having a job, even if it isn't pharma, even if it isn't your passion necessarily, you've got a job in a stable.
And in a stable industry an an an you can kind of research your options while you're actually earning. You know, a fair.
Income and so.
It's good that you've been thinking about becoming a real estate agent and that you're actually trying to weigh out whether it makes sense to take the leap, or if it makes more sense to sort of test the waters like you said and and get an impression of what the industry is like before you go all in.
And I have a couple different reactions to that I think. First, I would say that.
It's it is a good idea too.
To make sure you like this business before you you commit. It is a good idea to get familiar with a lot of the language. an A lot of the transactional aspects of it. And it's also it does require to be a bit of a people person so.
So you might decide that you're fairly good at sales an, yet there's some aspects of sales in this industry that you don't particularly care for, so doing it part time I don't. I wouldn't say I'm opposed to that an I would say.
Be careful because the market being what it is currently, is very demanding. And so if you happen to have a work from home opportunity right now as as a pharma employee, you may be able to balance a part time job as a realtor because.
It's going to require you being available.
On the spot we are.
Showing homes we're bidding on homes were drawing up contracts. We're scheduling inspections, we are scheduling Closings, an appraisals, and negotiating on the fly.
24 hours a day, seven days a week. Now, that doesn't mean we all work 24 hours a day, seven days a week. Some work harder than others, but if you're trying to balance that with a full time job
You may notice that your priorities are conflicting an you might get a little bit of pushback from your boss if they know that you're managing a side job, so that would just be a word of caution.
On the flip side, I know a lot of very successful agents who managed full time work while they were in real estate school and the first year of their karere an the reason why and I'm one of those people an I was a fulltime brand manager while I was in real estate school.
And I I still manage brands as you know part of I call myself Coker ear. But I am a full time real estate agent. It is my it is my main karere. It wasn't always that way I started out.
You know, like huge Aaron I dipped my toe in the water and I decided I really liked it but I couldn't. Just it takes a while to close a deal. It takes awhile to get paid from a deal so you can't. I don't recommend just upping and quitting a job that you feel secure with. Another thing to consider is what industry you're in. Like for pharma you might be able to dip your toe in the real estate water but.
If you're like in a job like banking or insurance, your company may actually have like some fundamental conflicts of interest. If you were to also be an agent.
And so if you were looking for a promotion like let's say you're a bank teller an you want to get promoted to more of like a customer service manager. Well if you have a real estate license and you want to go for that promotion, there's actually a conflict of interest in the in the banking New Jersey specifically in New Jersey. I guess every state might be different, but there's there are some conflict of interest to be aware.
Other than that, try it out. Dip your toe, get your license interview with some brokerages before you go to real estate school, and just see what's required of you. I mean, you're a 1099. You're an independent agent, so technically speaking, you're your own boss, so you can set your own hours in your own schedule.
An you know it really just depends and you know you get out of it what you put into it. Now that said, there's not many industries that you can make.
A sizable income for very very low.
Initial outlay financially. So there is something to be said for that too, because all in when you after you figure real estate school and the cost for your you know your fingerprints and you're taking your test and all of your marketing materials and just your fees.
Anne.
Any kind of you know, professional services that you need to get launch? I think it amounts to I don't know somewhere between 3:00 and $5000.
Just to get out of the gate and that might sound like a lot of money, but it's not for a startup. You know you look into any other business model.
You're going to have upwards of 5200 and $50,000 in startup Capital, so it's an excellent, excellent career choice if you have.
Great.
Love of sales and a great love of homes and and real estate in general. And if you're really good with people and you're really good with negotiating, so if you have a strong background in those things, Anna strong interest, I think you'll do quite well an for anyone that wants to turn their real estate practice into a really highly successful business.
They have to understand the models that drive the best real estate agents in the industry and so.
This is required reading that is basically gospel in my particular agency and that is the Gary Keller's book, The Millionaire Real estate agent. So in it, our models are revealed and explained at Keller Williams, and that's through culmination of decades of real estate experience and research and consulting. So you just get all the key concepts that drive.
Production you know that drive the essential economic budget, organization, lead generation models and that's really the foundation of any good Realtors business so.
The distinguishing characteristic between a millionaire real estate agent and a regular real estate agent is just in the way that they think, and the way that they apply systems. So this book kind of gives you that path we call it, earn a million net a million, and then receive a million. And when you know this book.
You know the real, the millionaire real estate agent? It's really not about quick fixes.
It's really more about the application of proven business techniques, and that's that's that's the difference. So Jaron thank you for that question for you and for anyone else who may be interested. I'll throw a link to purchase that book in my show notes on my website itsineastpetty.com. And while you're there, you can also download my free Guide 7 steps to becoming a Rockstar realtor.
Just head over to denisepetty.com/rock to get yours.
It's also worth mentioning my company, Keller Williams. We host regular career information nights an with kovit. It's been happening virtually over zoom instead of in person an in my particular market center, which is down on Long Beach Island. We host a virtual career night quarterly, so the first one this year is going to be Monday, February. So that's February.
1st and so I'll put a link in the flyer to the show notes so that if you live on or near Long Beach Island and you're interested in attending, then you can just click on the link to register. Or you can feel free to reach out to me for more.
Information for a career night in a market center near you.
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So now it's time for our market analysis segment an. I took a look at this.
Interesting article on housingwire.com.
It is the 2021 housing market outlook. No signs of slowing, so Jeff Tooker is the author of this article. He happens to be the senior economist at Zillow and this is with regard to his forecast for next year. He says that after a banner year for the housing market in 2020, we can expect next year, which is.
The year we're in to be even strong.
Younger so 2020 has been remarkably strong for the housing market. As we know, sales volume has remained elevated compared to last year since about mid June. Home values are growing more quickly than they have in 15 years. An homes are typically selling a full three weeks faster than just a year ago.
And so incredibly next year is this year's I should say, 'cause this was written in December. Next year's housing market is poised to even be even stronger. So how amazing is that? So Jaron and for anybody interested in becoming a real estate agent, that bodes well.
For you so in 2020 we saw over 5.66 million homes sold, which was a solid 6% growth over 2019. The 2021 market is projected to shatter that pace, potentially hitting upwards of 6.9 million homes sold.
And that is a 21.8% annual growth which is outrageous.
Yes, in its what like likely will be the strongest year for sales for home sales since the Great Recession and given the expected volume of sales that and likely improvement in the economy with the vaccine year over year home value growth reaching 10.3%.
And that is the first time it's been in double digits since 2006, and that's these are projections.
And essentially it's important to know that it's not out of the question. So now is a great time to be a real estate agent.
And driving this bull housing market. This is the current strength of the market which has blown past the usual seasonal slowdown and it shows no signs of cooling off this winter. So this is fueled by continued low mortgage rates.
An increased adoption of technology, so this makes connections between buyers and sellers much faster. Much easier, so elevated housing market demand appears to be here to stay. What does that mean?
It means we need listings. The demand is there. We need the listings so that we can put the homes on the market to sell.
So anyone thinking about selling now is the time.
This is when you get into major bidding contests.
A lot of people vying for the same property.
Multiple offer situations.
That often go over ask inflated home values and then the sellers.
Well, they think you're the hero.
Well, that does it for this episode of Real Talk with Big Red. Thank you so much for tuning in. It was great to spend some time with you and big thanks. Go out to ur listener to our sponsor to our color and to our producer Taylor Crew Datas. If you like the show, share it with a friend and don't forget to subscribe to this podcast.
Also, if you found value in today's episode, I encourage you to go ahead and leave a review and this way more people who love real estate will be able to find the show. And remember, if you or someone you know is interested in a career in real estate.
Thanks.
Or if you just have questions in general about the show, the industry, investing, flipping, renting, buying, selling, just do me a favor and connect with me on Instagram at Denise Petty and ask away. Be sure to visit my website itsineastpetty.com to find all the show notes for this episode as well as past episodes. Plus all the featured listings.
Of your dreams.