What Do Real Estate Agents Need To Understand About Rates In 2023? • Learning With A Lender • Joel Schaub

Welcome to the April episode of Learn with a Lender with Joel Schaub of Guaranteed Rate! In this episode Joel talks about the mortgage rate increases, and how this situation is creating a little confusion for the buyers. Next Joel discusses how agents should advise their clients properly, not to rush into the decision of purchasing the property just because of the current low rates. Last, Joel emphasizes the importance of communication and showing the clients different alternatives of loans. If you’d prefer to watch this interview, click here to view on YouTube! Joel can be reached at joel@rate.com and 773.654.2049. This episode is brought to you by Real Geeks . Transcript D.J. Paris 0:00 What’s going on with lending rates? And where do we see them heading for the rest of the year? Stay tuned. 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. Their 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 onto 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 Parris. I am your guide and host through the show today. Once again is our monthly series called Learn with a lender with Joel Schaub, one of my favorite people in the whole planet. So you’re so lucky to get to listen to Joel because I am lucky to get to listen to Joel he’s from guaranteed rate. Let’s talk about Joel Joel is the vice president of lending a guaranteed rate he’s been doing loans at a high level since 2003. 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 buyer on every transaction. Last year alone Joe gave back over $300,000 in closing costs to his buyers who worked with him and that put his volume in the top one 10% of all lenders nationwide. By the way, if you’re watching this, you’re probably listening but Joe’s lovely wife, Christine just walked back and forth. And I would feel sad that I was talking because I would have loved to have said Hi Christine. We love you. Everybody loves you. But anyway, back to Joel. And let’s see where were we Oh, Joel is in the top 1/10 of 1% of all lenders nationwide. In fact out of 400,000 loan officers in the country Joel is in ranked number 137 guys. Last year he closed 319 transactions that was 2020 to its highest amount ever. He crushed it. He’s doing well this year as well. He is just constantly doing it. Joel is a legend here in the Chicagoland area, but guaranteed rate is licensed in all 50 states. So if you meaning our listeners are watching or viewing, watching, listening rather, are wanting a better relationship with a lender, somebody that can actually help you grow your business. Joel Schaub and his team are the kings of that they want to talk to you. And even if you’re not going to work with them directly, they have an amazing email list that we’re going to get you to subscribe to, because it’ll give you some talking points you can use with your clients. But if you are looking for a loan officer, we cannot highly more recommend sorry, we cannot more highly recommend Joel. He’s the very best we’ve ever worked with. He did my mortgage. I’ve sent people to him. He’s the very best out there. No full stop. Joel can be reached, reach out to him at his email joel@rate.com joel@rate.com. Or you can shoot him a text message or call him at 773-654-2049. Let’s say hello to the biggest Cubs fan. I know Joel Schaub Joel welcome, Joel Schaub 4:05 DJ, thanks so much for having me on. I love it when we go through the numbers, but I really like being here and giving back and this is what we were talking about. Before we got on the air. It’s being able to educate and learn just one or two more things that will help agents close another deal or help a buyer or maybe even get another seller. So I’m excited. D.J. Paris 4:26 I want to start but we always put the plugs at the end. I want to put the plug at the beginning this time because speaking of giving back, you and your team put out y’all this is so funny, I have to have actually interrupting my own story because I started to send this to you earlier this morning in an email. I got an email from a very, very famous like a famous mortgage lender, kind of a celebrity mortgage lender on the East Coast. I won’t mention his name. He’s apparently a very nice person. Somehow I got on his email list. He sent me the longest email full I mean it was just chock full of stuff, and I looked at it in my mind, sort of I went dizzy. And it was just so much content in one email that I literally was like, I don’t know what to do with this. And it, and I was gonna send it to you because I was thinking, I’m so glad you don’t do that. But you do have an email that you send out every week that your team sends out, that literally gives you a several different data points of what’s going on in the mortgage world and the lending world. And so I want everybody who’s listening to our show to subscribe to that, because I’ve seen what other lenders send, and it’s not that good. But what you send is awesome. So where can people go to subscribe to that? Joel Schaub 5:39 On Tuesday, we call that information overload, right? There’s just too much information out there. And right now, especially with buyers, they have all these different news sources talking to them about interest rates, and it’s all lagging data, right? They literally are being told one week, mortgage rates went up. And they’re actually lower than they were the and so having some bite sized education pieces that you can look at weekly, make all the difference in the world if you’re an agent, and we’ve created that list. So you can literally subscribe by just sending an email to joel@rate.com. And say, sign me up for your newsletter. And on a weekly basis, we give you digestible DJ, things that you can speak to in terms of not just the rates, but different programs and trends that are happening so that you can see my top of the market and do it in a way that sets you apart from others in your market. D.J. Paris 6:35 Awesome while everyone go send that email to joel@rate.com. And they will get you on their email list. And then you when you’re talking to your clients, and they ask what’s going on in the lending world, you will have bullet points and you will not have to Oh, I have to send you this email. There was like seven videos in the email anyway, tons and tons of stuff. It’s information overload. But that is not what we do on this show, we distill down to the most important details because realtors and lending are intricately related and connected and one depends on the other. And we all need more business. So what’s going on? What should we be talking about this month? Joel Schaub 7:16 Well, we got an action packed show because right now there’s so much volatility in terms of interest rates. And so it’s really important if you’re an agent to kind of be on top of what’s going on in the market, because buyers are asking, right, should I wait right now with rates being too high? If you’re an agent listening to this, I know you’ve heard that a buyer says I think I’m gonna wait until rates come down before we buy and DJ this. The problem with that is when rates do come down, we’re gonna see a flood of buyers back into the market. Okay. And we already know that the data points for the Fed are indicating that we’re going to drop rates over 100 basis points next year. So you’re hearing at first, that that probably has gone too far already. But they have to stay on track, at least this year with the rate increases. And as soon as it’s done, we will see a big drop. That doesn’t mean that clients need to wait until that day to get into the market. Even though we don’t really like this phrase of buy the home, right where you’re getting in. And I don’t even like this, but it’s married the home and date three, okay. However, you can literally use this exact same strategy, whether rates are going to drop in six months or two years. We shouldn’t be buying just specifically because of rate. And you know that? D.J. Paris 8:37 Yeah, it’s you know, it’s so amazing. So we were looking at our numbers at our brokerage Today we have over 700 agents. And this this peel back the curtain a little bit, we were looking at our numbers, and we saw something that kind of stuck out at us. And it was really, really interesting. And so last week, with our agents, we only had nine new listings, which was very, very low for us were like, Oh, wow, that’s really low. This or I’m sorry, two weeks ago, nine, nine listings last week, 21 new listings, and we looked and we’re like, what’s going on? Is it the spring market? Is it? It’s it’s a lot of things, right? And the good news is, it’s a great time to list your property because, yes, there’s a little bit more competition, but rates are not again, I just I don’t think six and a half percent or six, even even higher than 6% is something to cry about. I just don’t think it is I think we need to readjust. We need to re educate our buyers and say, Hey, this is where it is. And there isn’t a whole lot of inventory. It’s starting to ramp up a little bit. But I still think I still think rates are fine. Joel Schaub 9:45 And there’s a lot of ways to get rates that are lower. Okay, so let’s just have a conversation here. buyers aren’t shocked anymore, that rates are in the low sixes that’s absolutely one of the things that I’m hearing more and more as Yeah, I expect that this isn’t news, unlike last year where it was every single week, it continued to go up, and it was a shock to people. Now it’s kind of the norm. But there’s a lot of ways right now, to get rates that are lower than 6%. So if you’re an agent, you want to have your clients look at two things. It’s not just a 30 year fixed rate mortgage, okay? Especially on the smaller loan amounts, there’s not that big of a difference in the payment on a 15 or 20 year loan, it seems like people just forget about this. And they shouldn’t, a 15 year loan is in the low fives and a 20 year loan is in the high fives. So when you talk about rates being in the sixes, there are plenty of fixed rate options in the fives TJ. And then on the other end of the spectrum, when you’re in these larger loan amounts, you can look at the jumbo adjustable rate mortgages that are easily in the fives as well. So clients that are borrowing in most cities and states over 726,000, they’re going to do themselves a favor by shopping this around, they don’t need 30 years at these rates, the flavors come in five, seven and 10 years. And if you lock a rate for the next seven years, I’m fairly certain that we’re going to see rates lower in the next seven years than what we have today. So why take a fixed rate mortgage, as long as you can sleep well at night, you can take a rate in the sixes, or you can take a rate down into the fives and just work with a bank that will promise to do a free refinance for you. And there’s plenty of banks out there. So make sure you’re partnering with those people, whether it’s me or not, there’s so many banks currently, that no matter what they’ll do a no cost refinance for your clients. And that could get them over the hump too, if they’re afraid to buy now. So some good strategies there in terms of rates. D.J. Paris 11:49 Yeah, that makes makes a lot of sense. What are you seeing any hesitancy is the hesitation that buyers had last year as rates were steadily increasing? We’re seeing that level off now. Are you seeing that the attitudes of buyers changing? Joel Schaub 12:07 Well, they’re still very price conscious, right? It literally is hundreds of dollars more per month DJ. So we still do really want to dig in and make sure the clients come from with the monthly payment. Because there are a lot of people that because of this rate increase, probably shouldn’t buy. And they don’t hear that they just continue to be told, Oh, everything is fine, let’s get you into a home. And that’s not the best way to build a business. That’s a great way to be a salesperson. But there’s a lot of people that probably should not buy until rates do come down. And just working through and finding out what somebody’s comfortability is, is a lot more important than whether they qualify, because a lot of banks will lend him money. But if it’s hundreds of dollars more than they’re comfortable with, and you know that as an agent, you can set the expectation as to what they can go out and look at, okay, because the pricing is a lot different today than it was before. If they were only approved before and a 250,000 or $350,000 place. Now that rates are higher, that approval amounts come down a lot. So it’s important to be working with them and understand what their qualifications are. And really where their comfort level is. D.J. Paris 13:17 What would you sell a you know, homeowners right now that are thinking that they maybe they will sell but they’re worried about inventory, right? So they sell their property, they might be worried? I don’t know if there’s enough inventory out there to buy something else, what what would you say to them, Joel Schaub 13:36 I’ll tell them, they can come live with you until they find a place. Let’s get the home sold and DJ will put you up, D.J. Paris 13:43 I’ll put you up myself. Now, Joel Schaub 13:45 it is a problem, it is part of most conversations that I have. And what I always recommend people do is make sure they know what they can buy before they list their home because it’s gonna be a lot quicker on the sale right now you’re gonna sell your home a lot faster, then you’re probably going to find the home that you like in this market. Right? So with that said, though, just a little further on that conversation is that if you know what you’re going to sell it for, you don’t have to have it listed, you can go out and shop for the properties that you’re getting ready to buy. And as soon as you do go under contract in that place, be ready with your agent to have the place listed. Because if you’re in most markets, these are quick sales. And so there is a strategy to finding the home first that you want to buy. As long as you have the photos taken of your home. You can delay that putting it on the market so that it times out perfectly. D.J. Paris 14:44 I’d love to talk also about some of the more creative products that lending institutions are are or that are offering that are popular these days by downs. I know we’ve touched on these before. I don’t think we can talk about this enough. cuz I don’t hear agents because I, I do speak to a lot of agents, not just through the show, but but even just out in my own personal life. And I mentioned the buy down thing. And I swear half of the agents I talked to go, what’s that? So I want to educate everybody about these buydown options, because I think this is such a cool way to mitigate some of the interest rate environment we’re in. Joel Schaub 15:25 So let’s cut through all the data and like actually get down to the numbers and actually understand what what it means, right. So if developers are giving the money to the buyer, or the seller is giving the money to the buyer, this works, that if you’re just increasing the purchase price to cover the cost of the buy down. I’m not a proponent of that. So let’s do a strategy. Right now our little quick breakdown of a $500,000 purchase, the client is going to put 20% down, and then I’m going to give you a pop quiz on the savings because this is fun, I’m going to put you on the spot here. Because if you have a $500,000 home, and we wouldn’t be doing a $400,000 loan, we’re going to ask the seller for a 3% credit. And that 3% closing cost credit DJ will fund a two one rate by now. And that to one rate by down drives the rate down to full percentage points in the first year, one point the second year. And then the borrower pays the note rate in the final 28 years. So buyers will say well, why don’t I just take 15 grand off the price. Okay, if the seller was gonna give me 15 grand, I just want to pay 15 grand less for the home? Sure. And so I run that calculation. And I say that that will save on a monthly basis. $92 a month, which is good. So now the pop quiz comes in. And if you’re doing it on a two one buydown DJ, do you think it doubles the monthly savings? Do you think it’s a little bit less than doubled? Or do you think it’s more than doubled? D.J. Paris 17:10 I would hear, I would say it’s more than, Joel Schaub 17:15 yes, it’s more than but it’s a lot more than so you actually take this, it saves $496 a month, in our first year, to save $254 a month in the next year. And that’s where the problem is, it’s the first two years, we really feel that the feds gonna get this under control and rates will be lower. If we’re wrong, the sellers have still funded the buy down. So that’s a great strategy. And it does save a lot of money. Now, the big thing here is that the buyer still has to qualify on the higher payment. Sure, it’s not an excuse to get into a home that’s over your head. Ladies and gentlemen, we don’t want buyers having to have this to one buy down to qualify. But it’s a really nice bonus when the seller or we can negotiate. If it’s not even a developer, just individual selling the home to fund a to one buy down and it’s 3% of the purchase price. And then it takes 2% off year one and 1% the next year. D.J. Paris 18:20 That’s great. And then I know that there’s you were mentioning before we got on air another strategy about parents who have children that are going off to college. Now, I will tell you what you’re about to mention. My I dated a woman many, many, many years ago whose family did exactly this. And it was a great investment for them. It worked out really well saved them a lot of money over the years. But let’s talk about that. Well, it’s called The Family Joel Schaub 18:46 opportunity loan. And most banks that you’re already working with if you’re a realtor, and they do have this even if they don’t know it. And what it allows people to do is it’s twofold. The first one is Mom and Dad buying a home or a condominium for a college bound student. It can be enrolled right now or enrolling in the next semester. And they’re allowed to buy that property even though the client is not living in the son or daughter is not going to go on the mortgage. And you’re allowed to do that with just a 5% down payment. What that means is we’re essentially buying an investment property because in a year or two, the son or daughter probably won’t continue to stay in that price property. And so now we’ve created a situation where we’ve bought a home with only 5% down and you’re fully and legally allowed to rent it even after 12 months. D.J. Paris 19:44 Yeah, it’s a great opportunity to have you know your child living live rent free, collect the rent from from the other tenants, and then continue to rent out the property as the child moves on. And I know I switched places I lived every every year in college as well. But this isn’t, you know, these are where a lot of people can save money on the room and board, right. So this is a great opportunity to invest a little bit and collect all of the tax deductions, which is nice about having income producing properties as well. So this would be another really great opportunity to talk to anyone that you know, that has children that are nearing the end of their high school years, or maybe their first couple of years of even college. This is when you know, you could start saying, Hey, has anyone ever talked to you instead of, you know, paying for rent for you know, your children at school, that maybe this is another option, this would be a great reason to reach out and just have that conversation with everyone who has a child in high school, you know, getting to the end of going off to college, Joel Schaub 20:50 DJ, can you imagine how much money your I would have if our parents, instead of paying for the room and board at college bought a place and literally just kept that place. And that’s the point right now is a lot of people, you’re not doing this for the 18 year old that’s moving to college for the very first time, it’s usually the move up, they’ve been in college for a year or two. And maybe they’re a junior or a senior. And the other thing that I did not mention is that you are allowed to collect rents. So a lot of my clients have their daughter, and then they have two or three roommates, and they’re fully allowed to collect rents from the bedrooms that are there, as long as the parents qualify, that’s not a rental property. And it really allows for generational wealth, you’re buying something, and you’re not putting money into the room and board. Now the other side of that, which, unfortunately we see is a lot of times we have maybe a client whose mother or father unfortunately passes away. And now mom or dad needs to downsize, right, and mom or dad is elderly isn’t working. And the parents are making the choice, you know, your time, you’re at a point now where you become your parents parent, and you have to figure out am I going to pay for a lease for my mother for the next couple of years. Or, gosh, if I’m paying two or $3,000 a month, I I’d like to buy something for her. And I can afford the payment. I don’t want to put $100,000 down. So that’s the strategy again, you can just put 5% down and have mom or dad living in the property. And it’s completely different DJ than it being a second home or an investment property. These are priced as a another primary residence. And it’s the only time that I know of that any underwriter allows you to have a second primary residence. And that means the rates are a lot lower, the mortgage insurance is next to nothing. And it can count for 5% down. So there’s some strategies there again, it’s called The Family opportunity loan, I take it as an opportunity if I was an agent to reach out to the lenders that I’m working with right now and say, as listen to a podcast do you have this loan program and the good ones that you’re working with know all about it D.J. Paris 23:10 because so the family opportunity loan allows an individual to possibly purchase another property for someone in the family, it’s it becomes a another primary residence you’re allowed to collect. Obviously, there’s qualifications and you need to fit into this very specific bucket here, but it you’re allowed to collect rent, but it’s not considered a rental property. Joel Schaub 23:36 No, you have to have the parent in that property or the son or daughter in the property, what we can’t do is call it this and literally just have it be an investment property. So that goes against the nature of it. And so it does allow for somebody to move in you could collect rents, if there were bedrooms for sure. And then after one year, the son or daughter moves out or mom or dad moves to another location you’re fully within your rights to have that be an investment property as long as for the first 12 months it was occupied by the person that was on the upfront paperwork. That’s an D.J. Paris 24:11 amazing strategy. So you live in the property for a year that cements it as a residence and and then from there on out you can kind of do do what you want with only and only starting the whole thing with only 5% down that is an incredible option. Guys these are the kind of creative ways that for lending and for real estate transactions that has really taken Joel from you know from from start to where he is now at the very very top of the of the lending food chain because he is always thinking about creative solutions for his clients. That’s That’s incredible. You kind of blew my mind with that I did not know that was that was an option so I’m I’m really one more Joel Schaub 24:55 thing about this though ready DJ because I know right now people are thinking in their mind Well, if I put 20% down on that I don’t have to pay mortgage insurance. Okay, so let me tell you about why this program is amazing is that with 5% down and it’d be considered a primary residence. Let’s take a $400,000 property, yes, you could put 80 grand down and not have mortgage insurance. But I had a client recently just do the 5%, down, where they put down $20,000. And that mortgage insurance was about $51 a month. So $51. And yes, that money is going right out the window, I’ll be the first to admit that we don’t ever want to pay mortgage insurance. But the decision was, if I’m only putting 20 grand down instead of 80 grand, and I’m getting the exact same rate, I don’t want to put down 80 grand if it only cost me 51 extra dollars, exactly. That’s the solution. And if I’m an agent, now, I know two strategies, and I’m keeping my antennas up. I’m thinking of people that are getting older, and I’m thinking maybe they have a parent that needs this. It doesn’t need to be somebody who passes away. It just needs to be a situation where you want to put mom or dad into a property, or a son or daughter who’s college bound or enrolled in a property. And this is the strategy to do it without 20% down. D.J. Paris 26:20 It’s amazing. Yeah, that is an amazing, you really are getting your balloon blowing my mind with those I did not I did not know that product existed. And what a great opportunity for anyone with with aging parents or who have worked, or who are parents themselves and have kids who are in college and you’re tired of paying that that room and board rent of let’s let you know, I also would, you know, it’s funny, I just saw the National Association of Realtors, Lawrence Yun the basically the head economist, he just said that he was very happy with inflation, the numbers most important are recently released. And he said he believes rates are on the way down. So the very top guy at the National Association of REALTORS believes rates are are going to be coming down at some point and didn’t say when. But we hope we hope soon. But again, I still think this is not a time to get discouraged. This is just a time to get work a little harder, right? i This not not Joel Of course, Joel always works hard. But for everyone listening, this is the time where lots of people are sitting on the sidelines, lots of agents are not moving forward. You know, they’re they’re paying attention to only what’s happening in the news. And they’re just maybe they’re they have a little fear. This is the time to keep to bring these kinds of options to your clients, whether or not it’s the right fit for them that you know, you guys will figure out. But this is a time to commute over communicate versus under communicate. Joel Schaub 27:56 You’re exactly right. When we think about what happened with inflation and what the Feds historic move up in rates, right? Maybe we see a little bit of volatility here where they go up a little bit before they come down. But the likelihood that the Fed does the same amount of rate increases that they’ve already done is next to nothing, there’s a very little chance that the rates continue to go up that much. Okay, it is much more likely that the worst of the inflation is behind us. And that means at some point in time, next year, we’re going to see rates come down. And they might come up a little bit. But the situation really truly is that we should stay positive. We know that rates here in the 60s aren’t something that makes you want to jump out of a tree, everything is okay. And in the near future rates will be lower. So let’s go out and get all the deals we can right now. And let’s help all the clients we can now because when the floodgates turn on again, you better be ready. Because rune rates are down. We’re gonna see that again in the future. And we had a lot more activity, so get ready for it. D.J. Paris 28:58 I started as a financial advisor on September 12 2001, which of course we know what what happened the day prior. But it was also aside from the terrorist attack that happened. It was also the tech bubble had already started crashing significantly if we were if we if we were alive during those times. And I will tell you that people would told me at that time, this is the worst possible time to get in. I was coming in when people were losing 85 90% of if they were heavily invested in tech technology at that time. The turn of the millennium that people were down significantly, and I was told worst time you could possibly get in. It was the best time to get it actually because as a result I worked really hard. I didn’t know any different and as a result I just pounded through and I found people that were like me that were new to the market that you know didn’t have a history by Find me to say like, well, I made 80% last year, and now I’ve lost it all. This is a great time to pick up. What I’m really talking about is first time homebuyers, this is a great opportunity to pick up first time homebuyers. When people are ready to buy, they’re ready to buy, you know, rates be damned, you know, quite honestly, like when people need to move they need to move. So now’s the time to get in, I would encourage all of our listeners, find out where you’re the people in your contact list where they work. And I would, I would partner up with someone like Joel or Joel himself. And I would say, I want to go to visit some of these companies, I want to, you know, bring in some lunch, I want to do a whole pitch on, I want to talk to people who are in their, like late 20s or early 30s, who are thinking about buying who haven’t yet done it, that’s going to be my market. And if you do that this year, you’re going to be golden right now. Joel Schaub 30:54 And that’s the reason if I’m an agent right now, like I continue to tune in to the cube into real podcasts, you’re getting information, you’re getting one extra thing that you can actually put in place right now. And if you’re in a market like we are, rents are not cheap, and I don’t really know a market. Now that I think about it, where rents are cheap. And if you are renting, the rate that you’re paying is 100 and DJ I like 6.5 or 6%, a lot more than I like 100%. Right. So remember this, when people complain about where the rates are, and they’re renting, remind them that the rate that they’re paying right now is 100%, all of that money goes out the window. And if you own the place, 6% is going out the window, and everything else is actually going to pay down your mortgage, and you get a tax deduction. So remember, the sky is not falling, if somebody is renting, you can help them and just work your sphere. There’s a lot of opportunities right now, and stay positive. And that’s my advice for you. D.J. Paris 31:59 And guys, what I would recommend and when I say guys, I should stop saying that because obviously we we actually have more female listeners than than male listeners who say girls, but but I’ll just say everyone, this is this is what I would do if if if I was if I were you, and I meet with a client and they’re not sure, I would say you know what, I’ve got the group, the best mortgage person, the best lender, I’m gonna, we’re gonna have a conversation and they’re gonna try to figure out a creative strategy for you. You don’t have to know everything, you just have to know the right lender. And when you pass that person over, believe me, lenders love those kinds of introductions. So you what you want to do is partner with somebody who is this creative, somebody like Joel or just partner with Joel himself. That’s what I did. That’s what you should do. But if you’re if Joel isn’t, you know, able to help you, you can find someone else. But Joel, for everyone else who’s going to follow me and follow you. What’s what’s the best way that they should get in touch with you so that they can find out about out about these creative strategies and these different options. Joel Schaub 33:05 But I love to keep it in real community because I’ve literally had personal conversations with dozens of listeners, they’re shocked when I actually return the emails to them and personally talk to them. And I love it. I mean, it’s just part of who I am. And it’s just one of those things where if you want you can email me joel@rate.com JO el@rat.com. And remember, if somebody’s paying, let’s say $2,500 a month in rent, their biggest objection isn’t that the payment that they can’t afford a mortgage is that they don’t have the downpayment. And so coming up with the strategies to do 3% down, or 5% down, where the rates are really attractive on these first time homebuyer programs, that’s going to make all the difference. They’re already paying a mortgage, they’re just paying somebody else’s mortgage. So help them get on the right track to homeownership. The more people you help, the more you’ll help yourself. And it all goes back to that givers gain mentality. If you can give and you teach and you educate people are going to follow you. And those people are gonna refer you more business. So get out there and put the people first and teach them and help them D.J. Paris 34:20 agreed everyone out there grab while you’re probably on your phone if you’re if you are go to your email app and send an email to joel@rate.com asked to be placed on his weekly mortgage update lending list and you will get a market update once a week and it’s too much full of information where you can’t like the example I gave earlier today. It was very beautiful email I have to share it with you but it was yes. You got to see it was so overdone so much data, so much data. But the point is is most people you know look, we want two or three pieces of information We can lock into our brains. That’s what your, what your your weekly market update does. And it gives us a way to actually make more money meaning more clients helping more people. So everyone, and by the way, too, if you’re a realtor, and you want to partner with a lending a loan officer who can actually help you grow your business, Joel and his team, they’re very, they’re the best out there the best I’ve ever found, please give them a shot, reach out to Joel joel@rate.com. Or you can eat you can Joe give that you might give him the phone number one more time. Joel Schaub 35:34 Now 773-654-2049. And we’re just happy to be giving back. It’s really great to be on I hope everybody got some useful information, today, we covered a lot about rates that covered the sky isn’t falling, and that rates probably will be coming down. But even right now where the rates are at, if you’re renting a home, it’s still much better to go out and see what we can buy. As long as you have a small down payment, you’re gonna be in the door. D.J. Paris 36:01 And some creative strategies for people who have children in college as well as elderly parents who might need a residence. So, you know, pass this episode over. Oh, by the way, guys, we are now on Instagram. I want everybody to follow us please on Instagram at top agent interviews, I wish it was keeping it real. But that was already taken. So at top agent interviews, and we’re post in the reason I mentioned this is not because I want a big Instagram following. But because we actually, every single day we’re pushing out a short form video clip, usually under 60 seconds on actually all of our social platforms, including Tiktok. But Instagram is what where we find most of our audience is hanging out. So please follow us top agent interviews on Instagram, and even get a daily dose of this podcast. So Joel, thank you so much for another episode, another month. Another great episode of content is you know, everyone, get on Joel’s list. joel@rate.com email him now. Now Now tell everyone in your office to get on that list as well reach out to him with your buyer questions right. He is the man he’s got a whole team in place, they will work with you one on one. And, you know also on behalf of all of our listeners, we want to end viewers want to thank Joel for spending time with us today took time out of his busy day to be on the show, as well as we want to Joel and I want to thank the audience for continuing to support and listen and please tell a friend they could one other realtor that could benefit from this conversation and send them a link to our website keeping it real pod.com And also follow us on Instagram again top agent interviews. All right, Joel, great to see you and we will see everybody on the next episode. Thanks Joe.