Welcome to the August episode of Learn With A Lender with Joel Schaub of Guaranteed Rate!



In this episode Joel discusses what's going on in the lending world. Joel focuses on why agents should center their attention on the next 6 to 12 months rather than the next sale they will get. Joel also discusses how with the market slowdown this is the time to start creating content for your clients to provide valuable information. Joel and D.J. discuss the situation in the renting market at the moment. Last, Joel explains what Lender Introduction Template is, how agents can subscribe for it and also discusses his weekly newsletter.



If you’d prefer to watch this interview, click here to view on YouTube!



Joel can be reached at [email protected] and 773.654.2049.



This episode is brought to you by Real Geeks and FollowUpBoss.







Transcript



D.J. Paris 0:00With rising interest rates, what do you tell your clients? And more importantly, how do you keep your business thriving? We're going to talk about that today. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren't converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solution so that you can easily generate more business. There agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod. And now on to our show.



Welcome to another episode of Keeping it real the largest podcast made by real estate agents and for real estate agents. My name is DJ Harris, I'm your guide and host through the show today, once again is our monthly series called Learn with a lender with Joel shop from guaranteed rate. Now Joel is vice president of lending at guaranteed rate. He's been doing loans at a high level since 2003. And he's got to that level because of what he does specifically for agents, which is he gives back part of his commission to the agents buyer on every transaction. So last year alone, Joel gave back $291,000 In closing costs to buyers who worked with him and that puts Joe's volume in the top 1% Sorry, top 1/10 of 1% of all lenders nationwide. In fact, out of 400,000 loan officers in the United States, Joel is currently ranked ranked number 137. Last year he closed 619 transactions, his highest amount ever for one year for $249 million. And already this year, Joel has closed 243 transactions for 98,000,093% of that were purchases. Now if you're looking for a loan officer, we cannot more highly recommend Joel, he's the very best we've ever worked with Joel can be reached via email at [email protected] J [email protected]. Or you can call him directly at 773-654-2049. Let's say hello to the biggest Cubs fan. I know Joel sharp, D Day. Thanks so



Joel Schaub 3:06much for having me on. And you're right. It's very fun when I hear the numbers. But none of that matters. I really like being on each and every month because it's the time where we can get back and have a gentle literally learn something. Because when you're in the business, you're so focused on buying and selling, but sometimes you don't have that mortgage side. So it's really good to come on and get back.



D.J. Paris 3:28Yeah, I think this is a great time to have a conversation about what's going on in the lending world only because I've noticed this because I Well, you do as well. I hang out with a lot of realtors for different reasons that socially. We try not to but yes, they're everywhere, right? You can't avoid them. No, but some of my closest friends now are in the in the industry. And I have noticed that there is a general malaise or a little bit of a sort of sadness around the fact that rates are not what they were at the you know, one to two years ago, which of course they aren't. But I find that agents tend to like carry that residue around with them like this is like horrible, awful news that is just making everybody's life so much more difficult. And I always think it's great to like reset and sort of reset and go back to our baseline expectation of what's going on. Because I just have to think this must influence the way that a lot of realtors interact with their clients. Like if the realtor thinks oh, my god rates are 5% and above, then maybe they bring that energy to their client. And maybe it just doesn't really help the process.



Joel Schaub 4:37It doesn't it's all about mindset right now. So I'm throwing out the whole narrative that this is a bad problem to have that rates are higher, and the agents that I work with and I teach and I coach, we've completely thrown that narrative out that the mainstream media tells you that oh, this is a problem. All right. It's actually a blessing. All right. I've said this to you but For I mean, I like buying my shirts on sale, and I like buying my shoes on sale. And now it's an opportunity to finally to buy real estate on sale. And by that, I don't mean that we're going to see a big drop in values, everybody's waiting. And I'll tell you now, if you're one of these agents telling buyers wait for values to drop, you're wrong. I don't anticipate value, they're going to drop drastically. But what I do know and what we've already seen, TJ, is that it's a hell of a lot easier to get an offer accepted today than it was six months ago when there were 10 offers on the table.



D.J. Paris 5:33Yeah, I mean, look, it's sort of the analogy of buying shirts on sale is such a great one. Because I was thinking, as you said that I really rather never buy something full price, right? Like anything in my life. I don't care if it's at the grocery store, and it's a bag of carrots, or, you know, a home, I want something that appears to me psychologically, I want something to feel like I'm not paying full price. And of course, as we saw in that really extremely low, almost an it was an aberration. It wasn't I don't even I don't even think it should be in the same history book as traditional rate rates, because it was so unusual that it really doesn't, it almost doesn't even deserve a chapter in history, in a sense, because it really sort of, you know, is going to color people's expectations today. But you're right. Yeah, I could have gotten a much lower rate two years ago, but boy, I would have been competing with a lot more people. And I probably would be paid up paid a lot more for that same property.



Joel Schaub 6:29And why is it DJ that? Buyers? They have this anticipation, right? Let's think of that. I want to buy something, but I only want to buy a few months ago when everybody was doing it. And now all of a sudden, when people aren't buying, they're like, oh, I don't want to buy either. You see, it's actually wrong. Right? Yeah, it's the home and get a deal on the price, where I could refinance the debt down the line, then be the big winner that bought a home 50 grand more than it was worth. So looking forward, if I'm an agent, I'm literally preaching this story. Um,



D.J. Paris 7:03yeah, it's a story that that needs to continue to be reinforced, because you're absolutely right. You know, I was in a former life, I was a financial advisor. And, you know, one of the most, I was not a stockbroker, I wasn't picking individual equities, or, you know, or bonds, there's just not what I did, I'm more managed somebody's net worth. But it is, it is psychologically difficult to think, Oh, I really need to buy when it's low and sell high. We all know that intellectually, but it is a difficult thing. Because it you know, it's why a lot of people lost money in crypto, because as as crypto exploded in value, and price, people started to jump in at the end, which was the wrong time to get in. And of course, with crypto, you know, any, any anything can happen. But you know, even in the traditional stock market, this idea of buying something when it's undervalued is hard psychologically. So I understand the hurdle that the agents and have to sort of jump over for their client. But it's, it's a really important hurdle to jump over. Otherwise, you're going to be as upset as the client might be.



Joel Schaub 8:07If I'm an agent, right now, the number one thing that I would be doing is planning for the next six to 12 months. And what I mean by this is actionable steps to put out marketing and branding, where you're not trying to get a sale today. I'll repeat this, I know how hard it is, we want sales today. But you want to actually be building your pipeline for six to 12 months and think of this net that you could cast if you're letting buyers know that you're not desperate for the business today, and that you're actually in their corner to help them when the time comes to finding the right property. I would work with somebody like that a lot more than somebody that says today's the right day to buy, now's the best time to buy. And guess what, when a buyer is working with you, and they want to maybe buy in the next six to 12 months, a good majority of them are gonna buy sooner, they really will, right. But making a strategy and doing social media posts, videos and actually talking about the future. And say, when there's a little bit of snow on the ground, and I'm talking, you know, we're here in the Midwest,

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