July 14, 2025 • 14 mins
The Real Estate landscape is changing with Fannie and Freddie now accepting Vantage Score 4.0 for mortgage approvals, which includes rent, utilities, and cell phone payments that weren't previously considered. While we wait to see how interest rates will develop, successful agents are focusing on consistent action and authentic human connections rather than getting caught in market anxieties.
Be human and make connections - it's really that simple!
Reach out if you need help building your business as an agent at any career stage. I'm happy to help you develop the right approach to generate business and serve clients effectively.
Now's The Time - no matter where you are, where you have been, or your current results - By becoming more aware and following a process, you can have whatever it is you truly desire!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
All right, welcome to the Monday Market Update.
It is July 14th.
Nikki is not able to make itlive on the call.
However, she did send me amessage of the latest and
greatest that is going on on themarket.
So I will read that now andthen jump into a little mindset
for the week.
I'll watch the live stream aswell to see if there's any
(00:25):
questions and make it a quickone today so you get back to
selling, doing what you do sowell, all right.
So Nikki mentioned that theinterest rates took a bit of a
blow from last week and what hadhappened is when Powell
announced that he would notconsider changing the Fed
(00:45):
interest rate until at leastSeptember and his term is up in
May.
So Nikki mentioned we'llcontinue to see and watch what
happens as far as who the newFed chair is going to be and
what interest rates are going tobe looking like in the future
(01:05):
to be and what interest ratesare going to be looking like in
the future.
So it's kind of from what Iunderstand as sit and wait type
of a game, but that does notmean that you sit on the
sidelines.
It's just taking theinformation but still going out
there and moving forward withyour business.
Like I say, you can create yourown economy.
Do not let what the news, whatis going on in maybe, your local
(01:29):
market, dictate whether youtake action or not.
You'll still want to show upand take action, day after day
after day, because theconsistency of your action is
where your success will comefrom.
Action is where your successwill come from.
Fannie and Freddie announcedlast week that they will now
(01:50):
start accepting Vantage Score4.0 for mortgage app approval.
Right now, the only acceptablecredit format is the FICO score.
Now Vantage has the ability torate your potential buyers or
your buyer's score based onthings like rent, utilities,
(02:10):
cell phone bills and thepayments that they make month
after month after month, whereasthe FICO does not rate the
score based upon these everydayor monthly payments score based
upon these every day or monthlypayments.
Now there are a lot ofunanswered questions as to how
(02:30):
the system will handle the newscoring and what it will mean
for overall mortgage approval.
There's more to come in theweeks with Nikki regarding all
of this and how this will playout and, as things come up, how
do we respond to it and how dowe move forward.
So watch for that as well.
But just know that things arechanging.
(02:51):
They're always changing, as weknow in real estate, but they
are changing and it is for thebetter.
So it will allow more peoplemaybe that have been on the
fence or that can't qualifyright now, to be able to qualify
for a mortgage.
So overall, the change is goodand if you can look for and find
(03:14):
the good in every situation orin announcements that are coming
out and choose to look for thegood, you will find it.
It's always there.
You just need to have the rightframe of mind and the right
attitude moving forward andwhich brings me to a little bit
of a coaching moment.
(03:34):
So I've been on the phone andon Zooms with a ton of new
agents recently, which Iabsolutely love.
I love helping newer andinexperienced agents set up and
run a successful real estatebusiness from the get go, and
I've also been talking to someagents that have been in the
business five years and 20 yearsplus, actually just leveling up
(03:59):
.
And I just want to send thisreminder out.
I, you know, sometimes take forgranted or just think that
everyone knows this or remembersit and just like myself, when
I'm maybe reading somethingagain or hearing something for
the fifth or 500th time, you'regoing to hear it differently or
(04:19):
it's going to resonatedifferently because you're
different.
To resonate differently becauseyou're different.
As I say, you'll never stickyour toe in the same water of a
stream, because it's alwaysmoving and always different.
Well, that's you as well.
So, as a friendly reminder, asyou're going out having
conversations, maybe talking toyour sphere of influence,
(04:40):
talking to potential clients orbuyers, or making cold calls, be
human, that's it.
We can overcomplicate thisbusiness so much, so quickly and
just get overwhelmed and almostlike put this tunnel vision on
(05:00):
of how it should look or howthis has to happen or how we do
this business called real estate, and I just wanted to put a
friendly PSA out there that youjust want to be human.
Go out there and don't make itso hard on yourself.
Just start having conversations.
Have conversations with peoplewhere you are already showing up
(05:24):
, whether that's maybe a placeof employment, volunteering,
maybe your place of faith, whereyou go to have, you know, have
faith in then your kids if youhave kids in there in sports or
they're in sporting events, youknow, maybe it's just as simple
(05:44):
as wearing, forgetting to takeyour name tag off or wearing a
logoed hat or t shirt orsomething that just says what
you do Without having to say itout loud.
I know there are plenty ofparents at all of the events
that I go to that aren't in realestate, that have logo gear,
(06:06):
and I don't think anything weirdabout it or like, oh, they're
being salesy or this or that.
No, it's just a part of whothey are and what they do.
So stop telling yourself allthese stories about being icky
or salesy or, you know,commission, breath, because
there is a way to go aboutbuilding this business and being
(06:26):
human and having conversations.
And I'll wrap up with this.
I was on a call end of lastweek and one woman was.
It was in front of probablylike 50, 60 people and she was
good enough to be vulnerable andshe's just like I.
Just I get in my own head.
I don't want to sound salesy, Idon't want to.
(06:46):
You know, come across as thisperson, as I'm reaching out to
my sphere or the people that Iknow.
You know like begging forbusiness or just being really
heavy about it, and I I raisedmy hand and I definitely jumped
right in because I went throughthis in the beginning of my
career as well, and I think someagents I know some agents
(07:09):
actually still go through thisas they're reaching out and just
having conversations.
You owe it not only to yourselfas a professional, but you owe
it to the other person on theother end of that text, that
email, that phone call, thatsocial media post or response,
(07:35):
to give them the opportunity tosay no, because the answer is
already no if you're not asking,so ask, and then you have a
50-50 shot and know that they'regoing to eventually
statistically buy, sell orinvest in real estate at some
(07:55):
point in time at some point intime and if they don't use you,
they will use a realtor of somesort shape form that's out there
right now and as statistics goas well, many agents out there,
(08:20):
to be quite honest, probablyshouldn't be agents.
They're just not in it for theright reasons or they're not
doing it in a manner that Iguess levels up or lifts up the
industry.
So you should be the oneworking with them, with that
person, and if you do not ask,you do not reach out or you do
(08:40):
not stay top of mind.
They are going to work withsomeone and it's not going to be
you.
So when that sign goes up inyour neighbor's yard which I
know has happened to most all ofus all of us will say and your
good friend or a co-worker orsomeone around you goes with
(09:01):
another agent, take 100%responsibility for that
happening and learn from it andknow that you are the best agent
for the job.
You're going to show up andserve them at the utmost level
of service, the communication,getting them from where they are
(09:22):
to where they want to be andfulfilling their real estate
goals.
It should be you, and if it'snot you, that's on you and
that's your bad.
Because now you did not givethem the opportunity, you did
not let them know, you did notgive them the opportunity, you
did not let them know.
(09:43):
And I have been in moreconversations with my sphere of
influence or people past clients, family, friends, whomever.
We could be at a coffee shoptalking for an hour and half of
it's maybe about my business andreal estate and half of it's
about their business, family,real estate.
We're just catching up,business, family real estate,
we're just catching up.
And it isn't until close to theend, as we're saying goodbye,
(10:03):
that I say, and you know,obviously you know I love what I
do.
Who do you know that's lookingto buy, sell or invest in real
estate, that I could be helpingnow or in the next few months,
next six months, next year?
And you will actually see theireyes go up because it's how you
(10:24):
asked it.
You asked who, not let me know,or do you know anyone?
It's a very specific way to askwho do you know that I could be
helping?
And I kid you not.
More times than not they'll belike oh well, now that you ask,
or you say that Nancy, from mywork she had mentioned her lease
(10:45):
is going to be up in October.
Fantastic, what's Nancy'sinformation?
I would love to reach out toher today.
Or can you do a three-way textright now?
We all have these in front ofus every single moment.
Would you mind an introductionright now?
More than likely, she hasNancy's phone number or email in
her phone and she has yours,because you're sitting at coffee
(11:07):
with her.
Get it going, get it set up,get that introduction right away
, right on the spot, and ask whodo you know?
Because if you don't ask forreferrals and if you're not top
of mind when these conversationsare coming up, like when Nancy
mentioned her lease was up.
That friend that you were outto coffee with hypothetically
(11:30):
should have said, oh my gosh,you need to talk to Angie, like
that is your job as an agent.
Your job is to be so top ofmind that when anyone in that
person's sphere of influence,their sphere, the 250 to 600
people they know that you don'tyet know, whenever any of those
people mention real estate, youshould be the first name that
(11:53):
comes to their mind withexcitement, with enthusiasm.
You gotta talk to Angie, that'syour job.
That could be your wholebusiness.
Again, we make this so difficult.
Go out, be human, haveconversations, be top of mind,
give value, give deposit,deposit value, give value,
(12:15):
invite them to events, stay topof mind and every so often ask
them who they know you can do awithdrawal.
You just have to be makingdeposits along the way in order
to do that.
And no, they'll work withsomeone.
And if it's not you, well, I'mnot going to shame you, because
I've been shamed before andthat's not what I'm here to do,
(12:35):
but shame on you.
I mean, honestly, go out there,do this job, be a professional,
figure it out, and if you needhelp or you want to continue
this conversation or look at thepillars of how you're going and
getting business Now.
If you need a good coach ormentor, regardless of what stage
you're at in your business, Ican help you.
(12:55):
So reach out.
I'm here and happy to help, andwe'll see you next Monday when
Nikki will be back.
And until then, go sellsomething and make it a great
week.
All right, welcome to the Monday Market Update.
It is July 14th.
Nikki is not able to make itlive on the call.
However, she did send me amessage of the latest and
greatest that is going on on themarket.
So I will read that now andthen jump into a little mindset
for the week.
I'll watch the live stream aswell to see if there's any
(00:25):
questions and make it a quickone today so you get back to
selling, doing what you do sowell, all right.
So Nikki mentioned that theinterest rates took a bit of a
blow from last week and what hadhappened is when Powell
announced that he would notconsider changing the Fed
(00:45):
interest rate until at leastSeptember and his term is up in
May.
So Nikki mentioned we'llcontinue to see and watch what
happens as far as who the newFed chair is going to be and
what interest rates are going tobe looking like in the future
(01:05):
to be and what interest ratesare going to be looking like in
the future.
So it's kind of from what Iunderstand as sit and wait type
of a game, but that does notmean that you sit on the
sidelines.
It's just taking theinformation but still going out
there and moving forward withyour business.
Like I say, you can create yourown economy.
Do not let what the news, whatis going on in maybe, your local
(01:29):
market, dictate whether youtake action or not.
You'll still want to show upand take action, day after day
after day, because theconsistency of your action is
where your success will comefrom.
Action is where your successwill come from.
Fannie and Freddie announcedlast week that they will now
(01:50):
start accepting Vantage Score4.0 for mortgage app approval.
Right now, the only acceptablecredit format is the FICO score.
Now Vantage has the ability torate your potential buyers or
your buyer's score based onthings like rent, utilities,
(02:10):
cell phone bills and thepayments that they make month
after month after month, whereasthe FICO does not rate the
score based upon these everydayor monthly payments score based
upon these every day or monthlypayments.
Now there are a lot ofunanswered questions as to how
(02:30):
the system will handle the newscoring and what it will mean
for overall mortgage approval.
There's more to come in theweeks with Nikki regarding all
of this and how this will playout and, as things come up, how
do we respond to it and how dowe move forward.
So watch for that as well.
But just know that things arechanging.
(02:51):
They're always changing, as weknow in real estate, but they
are changing and it is for thebetter.
So it will allow more peoplemaybe that have been on the
fence or that can't qualifyright now, to be able to qualify
for a mortgage.
So overall, the change is goodand if you can look for and find
(03:14):
the good in every situation orin announcements that are coming
out and choose to look for thegood, you will find it.
It's always there.
You just need to have the rightframe of mind and the right
attitude moving forward andwhich brings me to a little bit
of a coaching moment.
(03:34):
So I've been on the phone andon Zooms with a ton of new
agents recently, which Iabsolutely love.
I love helping newer andinexperienced agents set up and
run a successful real estatebusiness from the get go, and
I've also been talking to someagents that have been in the
business five years and 20 yearsplus, actually just leveling up
(03:59):
.
And I just want to send thisreminder out.
I, you know, sometimes take forgranted or just think that
everyone knows this or remembersit and just like myself, when
I'm maybe reading somethingagain or hearing something for
the fifth or 500th time, you'regoing to hear it differently or
(04:19):
it's going to resonatedifferently because you're
different.
To resonate differently becauseyou're different.
As I say, you'll never stickyour toe in the same water of a
stream, because it's alwaysmoving and always different.
Well, that's you as well.
So, as a friendly reminder, asyou're going out having
conversations, maybe talking toyour sphere of influence,
(04:40):
talking to potential clients orbuyers, or making cold calls, be
human, that's it.
We can overcomplicate thisbusiness so much, so quickly and
just get overwhelmed and almostlike put this tunnel vision on
(05:00):
of how it should look or howthis has to happen or how we do
this business called real estate, and I just wanted to put a
friendly PSA out there that youjust want to be human.
Go out there and don't make itso hard on yourself.
Just start having conversations.
Have conversations with peoplewhere you are already showing up
(05:24):
, whether that's maybe a placeof employment, volunteering,
maybe your place of faith, whereyou go to have, you know, have
faith in then your kids if youhave kids in there in sports or
they're in sporting events, youknow, maybe it's just as simple
(05:44):
as wearing, forgetting to takeyour name tag off or wearing a
logoed hat or t shirt orsomething that just says what
you do Without having to say itout loud.
I know there are plenty ofparents at all of the events
that I go to that aren't in realestate, that have logo gear,
(06:06):
and I don't think anything weirdabout it or like, oh, they're
being salesy or this or that.
No, it's just a part of whothey are and what they do.
So stop telling yourself allthese stories about being icky
or salesy or, you know,commission, breath, because
there is a way to go aboutbuilding this business and being
(06:26):
human and having conversations.
And I'll wrap up with this.
I was on a call end of lastweek and one woman was.
It was in front of probablylike 50, 60 people and she was
good enough to be vulnerable andshe's just like I.
Just I get in my own head.
I don't want to sound salesy, Idon't want to.
(06:46):
You know, come across as thisperson, as I'm reaching out to
my sphere or the people that Iknow.
You know like begging forbusiness or just being really
heavy about it, and I I raisedmy hand and I definitely jumped
right in because I went throughthis in the beginning of my
career as well, and I think someagents I know some agents
(07:09):
actually still go through thisas they're reaching out and just
having conversations.
You owe it not only to yourselfas a professional, but you owe
it to the other person on theother end of that text, that
email, that phone call, thatsocial media post or response,
(07:35):
to give them the opportunity tosay no, because the answer is
already no if you're not asking,so ask, and then you have a
50-50 shot and know that they'regoing to eventually
statistically buy, sell orinvest in real estate at some
(07:55):
point in time at some point intime and if they don't use you,
they will use a realtor of somesort shape form that's out there
right now and as statistics goas well, many agents out there,
(08:20):
to be quite honest, probablyshouldn't be agents.
They're just not in it for theright reasons or they're not
doing it in a manner that Iguess levels up or lifts up the
industry.
So you should be the oneworking with them, with that
person, and if you do not ask,you do not reach out or you do
(08:40):
not stay top of mind.
They are going to work withsomeone and it's not going to be
you.
So when that sign goes up inyour neighbor's yard which I
know has happened to most all ofus all of us will say and your
good friend or a co-worker orsomeone around you goes with
(09:01):
another agent, take 100%responsibility for that
happening and learn from it andknow that you are the best agent
for the job.
You're going to show up andserve them at the utmost level
of service, the communication,getting them from where they are
(09:22):
to where they want to be andfulfilling their real estate
goals.
It should be you, and if it'snot you, that's on you and
that's your bad.
Because now you did not givethem the opportunity, you did
not let them know, you did notgive them the opportunity, you
did not let them know.
(09:43):
And I have been in moreconversations with my sphere of
influence or people past clients, family, friends, whomever.
We could be at a coffee shoptalking for an hour and half of
it's maybe about my business andreal estate and half of it's
about their business, family,real estate.
We're just catching up,business, family real estate,
we're just catching up.
And it isn't until close to theend, as we're saying goodbye,
(10:03):
that I say, and you know,obviously you know I love what I
do.
Who do you know that's lookingto buy, sell or invest in real
estate, that I could be helpingnow or in the next few months,
next six months, next year?
And you will actually see theireyes go up because it's how you
(10:24):
asked it.
You asked who, not let me know,or do you know anyone?
It's a very specific way to askwho do you know that I could be
helping?
And I kid you not.
More times than not they'll belike oh well, now that you ask,
or you say that Nancy, from mywork she had mentioned her lease
(10:45):
is going to be up in October.
Fantastic, what's Nancy'sinformation?
I would love to reach out toher today.
Or can you do a three-way textright now?
We all have these in front ofus every single moment.
Would you mind an introductionright now?
More than likely, she hasNancy's phone number or email in
her phone and she has yours,because you're sitting at coffee
(11:07):
with her.
Get it going, get it set up,get that introduction right away
, right on the spot, and ask whodo you know?
Because if you don't ask forreferrals and if you're not top
of mind when these conversationsare coming up, like when Nancy
mentioned her lease was up.
That friend that you were outto coffee with hypothetically
(11:30):
should have said, oh my gosh,you need to talk to Angie, like
that is your job as an agent.
Your job is to be so top ofmind that when anyone in that
person's sphere of influence,their sphere, the 250 to 600
people they know that you don'tyet know, whenever any of those
people mention real estate, youshould be the first name that
(11:53):
comes to their mind withexcitement, with enthusiasm.
You gotta talk to Angie, that'syour job.
That could be your wholebusiness.
Again, we make this so difficult.
Go out, be human, haveconversations, be top of mind,
give value, give deposit,deposit value, give value,
(12:15):
invite them to events, stay topof mind and every so often ask
them who they know you can do awithdrawal.
You just have to be makingdeposits along the way in order
to do that.
And no, they'll work withsomeone.
And if it's not you, well, I'mnot going to shame you, because
I've been shamed before andthat's not what I'm here to do,
(12:35):
but shame on you.
I mean, honestly, go out there,do this job, be a professional,
figure it out, and if you needhelp or you want to continue
this conversation or look at thepillars of how you're going and
getting business Now.
If you need a good coach ormentor, regardless of what stage
you're at in your business, Ican help you.
(12:55):
So reach out.
I'm here and happy to help, andwe'll see you next Monday when
Nikki will be back.
And until then, go sellsomething and make it a great
week.
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