Zoom Call 1.17.23 William Piotrowski 2023 Mindset Working The Business

By
Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

William Piotrowski 2023 Mindset Working the Business

William Piotrowski 2023 Mindset Working the BusinessThe presenter for the Zoom call this week was William Piotrowski, an 18-year seasoned loan officer. He offered his take on the market for 2023.

He started out his presentation offering information that he had gotten from a call earlier in the morning. The market was going to be undergoing volatility for the next few months, with a target date of May 10 for a major shift in the Consumer Price Index (CPI). 

The optimism is that on that day an event will occur that will drop rates into the mid 5's.  

William Piotrowski 2023 Mindset Working the BusinessAt the top of the curve, the CPI which is currently at 5.87 will see a shift again and the cycle will go back with buyers clamoring for homes and the return of multiple offers

There will be more activity with buy down of points as the market is not offering sufficient profitability to lenders . With the increase in equity, people will be paying loans off quicker and there are less profits for lenders.

William Piotrowski 2023 Mindset Working the Business

He spoke of the positives in the current market
seller paid closing costs which were not there a year ago
sellers making and paying for repairs; increased loan limits
no inspection waivers which are not on current contracts
contingencies on contracts for sales of residences.

William Piotrowski 2023 Mindset Working the BusinessHe advocated a shift in mentality of agents to be seeking out people in our sphere and asking to be of help.

Start making calls to service providers that may see people with issues where a home to sell or buy is a solution such as divorce attorneys. estate planners, tax advisors, etc.

He suggested all maintain an OWL mindset: Observe, Write, Learn and not be the OWL agent: Calling a past client and greeting, Hi --- this is Joe and getting Joe who?

He offered a statistic that within the next 2-3 years, 2/3 of millennials will look to buy a home. Kids that have been living at home will now get out to own their own homes. Possibly looking for a muti-family property to get assistance with the monthly payments.

For bi-lingual agents, the Spanish market will explode with buyers and as they are a cautious group, an agent that has earned trust will see many repeats and referral clients.

Educating renters can also be beneficial especially as rental rates will escalate and a move to a homeownership will be more valuable.

He offered a graphic where almost 250,000 homes that had gone under contract from July to October did not close. He expected the last 2 months of the year to be similar.

He noted that 70% of current agents have never worked in this type of aggressive market. It created a false sense of security as commissions were so easy to obtain. List and sell within days of being on market.

In addition, 80% of current lenders have never worked in a non-refinance market. with a shift coming many of those lenders will be working elsewhere.

There is a belief that almost 30% of people currently in the real estate business will be gone over the next year. 

He was energetic and offered his services for the 22 states that he covers. He is high energy and carried the call to beyond the hour.

William Piotrowski 2023 Mindset Working the Business

 

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Edward (Ed) Silva
Broker Associate

Serving Central Connecticut Sellers and Buyers

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Comments (20)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Ed and William did a great zoom call and like to see him back in the future.  Make it a great day!

 

Jan 19, 2023 09:29 AM
William Piotrowski

Thank you Will 

Jan 19, 2023 02:18 PM
Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Hi Ed great recap on the  Tuesday zoom call. Lots of good ideas from William. And it is true that newer agents will now have to actually learn how to 'build a sustainable' business.  I've seen this cycle many times and the wheels keep on turning - for those that figure it out!

Jan 19, 2023 09:32 AM
William Piotrowski

Thank you Anna

Jan 19, 2023 02:18 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks for the recap, Ed. I'm sorry I missed William's presentation - there was clearly plenty of helpful information about the market and what to expect.

Jeff 

Jan 19, 2023 09:50 AM
William Piotrowski

We will catch you on the next one Jeff

Jan 19, 2023 02:18 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Ed Silva Agents need to produce to continue in this business. There are many fees to pay that many people do not realize. 

Jan 19, 2023 11:11 AM
William Piotrowski

Hannah also remember this 10% of your DATABASE will have a mortgage need yearly (HELOC, INVESTMENT HOME, 2ND HOME)

Jan 19, 2023 02:19 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Ed,

Wonderful recap of the Tuesday Zoom meeting! I agree with you William was energetic and offered his services to the 22 states he covers. He is high energy and carried the call to beyond the hour. It's amazing to learn that 70% of the current agents has never worked in a market like this!

Jan 19, 2023 01:12 PM
William Piotrowski

Thank you Dorie 

Jan 19, 2023 02:19 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

That was definitely a high energy and informational call! Great overview!

Jan 19, 2023 01:17 PM
William Piotrowski

Thank you Kat 

Jan 19, 2023 02:19 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Ed Silva,

Another great recap, Thank you! William covered a lot of information.  This can really benefit the savvy agent or broker.  Have a great Thursday!

Jan 19, 2023 01:25 PM
William Piotrowski

Thank you Sheri 

Jan 19, 2023 02:20 PM
William Piotrowski
Diamond Residential Mortgage Corporation - Naperville, IL
Just Call William 630-881-8655

Hello Ed thank you so much for the amazing review of the Zoom call we all had. It was a pleasure to serve you all! I look forward to the next one. 

Jan 19, 2023 02:18 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed this is one of the very few ZOOM Meeting I have missed, so thank you for filling me in.

Jan 19, 2023 02:51 PM
William Piotrowski

We will catch you at the next one George 

Jan 19, 2023 09:15 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ed, thank you for sharing this Zoom call meeting, and this coming year will be interesting.

Jan 19, 2023 03:45 PM
William Piotrowski

You got this Joan 

Jan 19, 2023 09:16 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I am certain all who attended Tuesday's Zoom session benefitted from doing so.

Jan 19, 2023 05:09 PM
William Piotrowski

Thank you Myrl 

Jan 19, 2023 09:16 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Ed, on having this blog FEATURED in the Old Farts Club group!  

Jan 19, 2023 05:09 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Sounds like it is 'back to the drawing board' kind of market, Ed. Interesting that the interest rates are supposed to drop back down to the mid 5% range...

Jan 19, 2023 06:13 PM
William Piotrowski

Wanda it sure is, back to the basics!

Jan 19, 2023 09:17 PM
Jason Anderson
HomeSmart - Bartlesville, OK
Realtor®, GREEN, C2EX, Lifestyle Strategist

Great recap, very informational-and pretty much spot on with what I have been telling people.

Jan 19, 2023 08:46 PM
William Piotrowski

Thank you Jason 

Jan 19, 2023 09:16 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It sounds like William Piotrowski has a lot of knowledge and I missed a good meeting.  I am following him now and will have to check out some of his posts.

Jan 20, 2023 05:26 AM
William Piotrowski

Brian hope to see you on the next one!

Jan 20, 2023 08:04 PM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It was the first Zoom Meeting that I have been to in a long time and William did a great job.  His presentation was so full of information that I needed this review.  Thank you!

Jan 20, 2023 05:46 AM
William Piotrowski

Thank you so much Ray!

Jan 20, 2023 08:04 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Excellent narrative to catch us all up. I pray the May prediction comes true. 

Jan 20, 2023 08:02 AM
William Piotrowski

Thank you Dr. Paula

Jan 20, 2023 08:04 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, Ed, for posting this report.

Have a great day and an outstanding weekend.

Jan 20, 2023 10:03 AM
William Piotrowski

Thanks Roy

Jan 20, 2023 08:05 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Ed- thank you for another great recap of our Zoom meeting!!! William Piotrowski gives an energetic and informative presentation. 

Jan 21, 2023 12:41 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Great recap Ed.

Jan 22, 2023 10:40 AM