Why buyers want your texts AND calls — and when

A few things before we get started

1. Wednesday’s “Lost” Edition: Your eyes weren’t lying to you, friends. You didn’t see our Wednesday edition in your inbox because technical issues on the backend kept us from publishing.

Rest assured, the necessary sacrifices have been made to please the tech gods, and we’re now back in business! You’ll see us in your inbox every Wednesday and Friday. 

2. A Thanksgiving Heads Up: We’ll be spending the Friday after Thanksgiving with the fam for some much-needed R&R. So, you won’t see us in your inbox as we’ll be taking that day off. 

3. Veterans Day: We know that it was this past Wednesday, but we would be remiss if we didn’t take a moment to express our gratitude to the men and women who have served our country. 

Both David and I are profoundly grateful for the freedom and opportunities we’ve enjoyed in our adopted home. But we know that the life we enjoy didn’t come without cost or sacrifice. Generations of Americans have paid that cost, with many making the ultimate sacrifice. 

To all our vets, from the bottom of our hearts, thank you. Truly. 

4. Lots Going On: There are fewer than two months left in the year, but things aren’t slowing down. Pay particular attention to our first story, where we break down what buyers and sellers want from agents. It’s eye-opening. 

Beyond that, we’ve got plenty to catch up on, and today’s edition is packed. 

So, let’s get into it!  

- James

Buyers still want to hear your voice

73% of homebuyers say it matters to them that their agent calls with updates, according to the NAR’s 2026 Profile of Home Buyers and Sellers. Texting is now the most popular way for buyers to get information, but they still value a real conversation, especially when a lot is at stake.

Here are the other key takeaways from the report:

• Text and calls lead the list. 74% of buyers value getting property info and updates by text, and 73% value personal phone calls with updates. Sending listings as soon as they hit the market, change price, or go under contract is close behind at 71%.

• First-time buyers prefer text. 78% of first-time buyers want property info and communication by text. 

• Many relationships start with a phone call. 26% of buyers first contacted their agent by phone, more than any other method. In-person conversations came next at 23%, followed by referrals from friends at 18%. Only 9% started by text and 8% by email.

• Repeat buyers want more market data. 52% of repeat buyers value market reports on recent listings and sales, compared with 44% of first-time buyers. Repeat buyers also give personal update calls a little more weight (74% vs. 71%).

• Online presence matters less than direct contact. Only 31% of buyers say it’s important for an agent to have a website. Fewer care about social media activity (14%), newspaper ads (2%), or a blog or podcast (1%).

• Agents are mostly getting it right. 88% of buyers were very satisfied with their agent’s responsiveness, and 84% were very satisfied with their communication skills.

My take

This report is a gem for us agents. It tells us what buyers want and offers practical advice we can put to work immediately. The message is simple: Text for convenience, call for connection. Buyers value both almost equally, but that doesn't mean you should use them interchangeably. Text listing alerts, price changes, and routine updates. Pick up the phone when the stakes are high, like an offer, an inspection, or a closing. And check in even when there's no news. Since 26% of buyers first contacted their agent by phone, make sure you're answering yours. Websites and social media have their place, but buyers care far more about the basics: an agent who stays in touch, answers their questions, and keeps them in the loop.

Mortgage rates gave back almost all of the improvements made in October

In the past three days, the average top-tier 30-year fixed mortgage rate has jumped 0.32% to 7.50%, wiping out most of the improvement from the past five weeks, according to Mortgage News Daily. 

Here’s what’s driving the jump and what it means for buyers:

• Consumer inflation came in hot. October CPI rose 0.35% against a 0.25% forecast, and core CPI rose 0.30% against 0.22%. That puts annual inflation near 4%. Rates jumped 12 basis points on the day the report came out, the biggest one-day rise in over a month.

• Business inflation is running even hotter. Producer prices are up 6.5% from a year ago, and 5.0% excluding food and energy. Businesses are likely to pass those costs on to consumers.

• Household budgets are getting squeezed. Electricity rose 0.9% in October, and gas is up 37.4% from a year ago. Wages are up just 3.1%, so real pay has fallen for more than seven straight months.

• The Fed is set to hike, possibly by more than expected. A December increase is locked in, and Fed Governor Christopher Waller says a 50-basis-point move should be considered, warning that “hiking only 25 basis points would put our credibility at risk.”

• The rate spike comes just as buyers were returning. Mortgage applications rose 6.2% in a single week as the MBA’s average rate fell to 7.21%. Purchase activity is still 18% below a year ago.

• First-time buyers have the most to lose. FHA rates had just slipped below 7%, and this week’s surge threatens that opening.

My take

A December rate hike looks all but certain. The question now is whether the Fed raises rates by 25 basis points or 50. Waller has already made the case for 50, but there’s a catch: the Fed skipped October, and following that pause with an unusually large hike could make it look like it’s playing catch-up. The more likely outcome is 25 in December, with a warning that January could be next. For buyers, though, the Fed’s next move isn’t the biggest concern. Mortgage rates are driven more by inflation expectations and long-term Treasury yields than by the Fed’s benchmark rate. With producer prices running hotter than consumer prices, there’s reason to worry that inflationary pressures will persist. That makes a quick return to October’s lower mortgage rates increasingly unlikely.

Where luxury prices are rising the fastest

Luxury homes are selling faster than a year ago: the median luxury listing spent 5 fewer days on the market nationally. But prices for all three tiers of luxury listings are down from last year, and the entry price to qualify a listing as “luxury” has now dropped, year-over-year, for 31 straight months, according to realtor.com’s latest update.

Here’s a breakdown:

• Top 10% of listings (Luxury threshold, now $1.2M): -2.3%

• Top 5% of listings (High-end luxury): -4.1%

• Top 1% of listings (Ultra-luxury): -6.2%

Still, 12 of the 43 top luxury metros in the country are posting price increases.

Here are the top 10 luxury markets seeing the highest annual percentage growth in prices:

1. Naples, FL: +9.0%

2. Sarasota, FL: +7.7%

3. Charleston, SC: +4.7%

4. Raleigh, NC: +4.3%

5. Boise City, ID: +4.2%

6. Cape Coral, FL: +4.1%

7. Miami, FL: +4.1%

8. Nashville, TN: +3.6%

9. Atlantic City, NJ: +3.0%

10. Las Vegas, NV: +2.2%

My take

The luxury market is shifting, and some of the strongest price growth is happening outside the country's priciest metros. Entry-level luxury prices are down 12.1% in San Jose and 11.3% in New York, while five of the 12 metros posting gains have luxury thresholds below the national $1.2 million mark. And the growth isn't limited to entry-level luxury. Prices for the top 1% of listings jumped 18.7% in Charleston, 16.6% in Boise, and 15.9% in Atlantic City, even as they fell 6.2% nationally.

For agents, the lesson is simple: stop treating luxury as one market. In San Jose, where luxury starts at about $3.3 million, a $1.2 million home doesn't even qualify. In Detroit, where luxury starts at about $719,000, that same budget puts buyers well into the luxury market. Know your local luxury threshold, track the top 10%, 5%, and 1% separately, and show buyers relocating from pricier markets exactly how much further their money goes.

Schematics

The news that just missed the cuts

• 7 specific things agents can do now to win big in 2027

• How to buy a home with less than perfect credit

• Why first-time homebuyers are increasingly paying all cash

• ChatGPT now shows you how often it mentions your business

• Ranked: The services brokerages are offering to attract more agents

Foundation Plans

Advice from James to win the day

As mentioned in last Friday’s edition, we’re diving into the 8 most common reasons agents fail in our industry. We covered the first four reasons here. In today’s edition, we wrap up the mini-series with the final four reasons. Let’s get into it.

5. Lack of lead generation and marketing – One of the primary reasons real estate agents struggle is their failure to prioritize consistent lead generation and effective marketing strategies. Generating leads is the lifeblood of any real estate business, and agents who neglect this aspect find themselves without clients to serve. Many agents fail to create a comprehensive marketing plan, relying too heavily on outdated methods or word-of-mouth referrals. Honestly, we don’t rely only on one method of generating leads. As you know, we’re totally open to using old-school methods like door-knocking. But we don’t limit ourselves to those methods. Use any method in line with your values and how you want to present yourself. As always, we remind you: never let your pipeline go dry! 

6. Having a 9-to-5 mentality – The real estate industry demands flexibility and a willingness to go beyond a traditional 9-to-5 schedule. Many new agents enter the field expecting to work standard hours, only to discover that clients often need assistance during evenings, weekends, or at other unconventional times. Successful agents understand that they need to be available whenever their clients need them for showings, negotiations, or just to get on the phone and answer a question. Those who stick to a rigid schedule miss opportunities, lose clients, and fail to meet the demands of a fast-paced market. Real estate requires an entrepreneurial mindset, not an employee’s clock-in, clock-out approach.

7. Lack of measurable goals –  Without measurable goals, real estate agents often find themselves unsure of how to prioritize their time and efforts. Goal-setting provides direction and focus, enabling agents to track progress and make necessary adjustments. Many agents fail because they don’t set realistic, actionable objectives, such as a specific number of new leads to generate per week or a target number of transactions per month. Instead, they operate reactively, hoping for success rather than planning for it. This lack of strategic vision undermines their ability to grow and achieve long-term stability. Don’t just have goals; make sure you have goals that you can track with concrete numbers and stats. 

8. Poor financial management – Real estate income is often irregular, with months of high earnings followed by periods of little or no income. Many agents fail to budget accordingly, spending lavishly during good months and struggling to cover expenses during lean times. Additionally, they often overlook the need to reinvest in their business, whether it’s for marketing, continuing education, or professional tools. Poor financial management not only creates unnecessary stress but also limits an agent’s ability to scale their business. Those who fail to manage their finances wisely often find themselves unable to sustain their careers. We can’t tell you how many agents we know who get behind on their taxes and don’t plan for retirement. Don’t just be a big-game hunter. Make sure you set yourself up for financial success.

Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

"Excellence is never an accident. It is always the result of high intention, sincere effort, and intelligent execution."  –- Attributed to Aristotle

Thanks for reading, friends. Excellence and success don’t happen by chance — they’re built through intention, focus, and consistent effort.

Have a wonderful weekend, and I’ll see you back here next Friday!

- James