October Brokerage Award Winners Interest Rates and More November 3, 2022 By Olivia Bevacqua Happy NOVEMBER! Halloween is over, and we’re heading into the Thanksgiving season. There’s so much to be grateful for as we reflect on the previous month of business at DOBI. Let’s get right into it! We kicked off the meeting with our lender, Jon Aucott, from Superior National Bank. He walked us through the pros and cons of 2-1 buydowns, and why they may not make sense looking at interest rate projections. Speaking of, interest rates went up by .75 this past week! Coming into December and the first of the year, they’re projected to go up again as well. The Fed is driving these rates up over time to try and curb inflation, however, plenty of financial institutions are predicting that they should start going down by Q3 of next year. If clients are scared to buy because of rates, Jon suggests, “it’s a good time to remind them to Marry the house, Date the rate”. If a house is available now and you want it, it may be a good idea to still buy and refinance when the rates decline. DOBI CEO, Simon Thomas, shared the importance of keeping an eye on interest rates, refocusing on relationships, and staying focused during tough times. Historically, Simon mentions that once interest rates start rising, they continue to do so for about 18 months before they eventually plateau. Backing up what Jon said, we’re projecting that at about Q3 of 2023, interest rates will start to decrease again. Simon stresses the importance of handling what you can control seeing as how interest rates are what they are. Get back to the basics and build strong relationships with your network. Have more coffees, more brunches, and more events for your clients. Now is also a great time to build your brand and name in the industry. Hosting more open houses helps accomplish this and as an added bonus, doesn’t cost anything! Create opportunities now. These next months are going to be tight, but DOBI is here to support you and your business. Please help us congratulate our monthly brokerage winners below: Our Big Wave winner is peer-nominated by agents and staff. This month the award was given to agent Alex Lannen. She’s been helping agents with any deal flow support-related questions as well as leading some of our in-house trainings. Thanks for being there for everyone Alex. We appreciate you! Best in Class is given to the DOBI staff member representing our core values, peer-nominated by fellow agents and staff. This month our winner goes to Lauren Gallick. She’s been doing a great job keeping our social media on track! In addition, she’s always getting amazing photos and videos around the office. Our Broker’s Choice award is nominated to the agent that has made a difference that month and caught our broker’s eye. This month, this award goes to Kristen Patterson. In October, Kristen had 2 Pending Units, at $828,430 Sales Volume and 1 Closed Unit at $299,000 Sales Volume. Kristen has also continuously reached out with new training ideas as we focus on training and recruiting. Great job Kristen! Our Grit Award winner, given to the agent with the most units sold, goes to Nick Seman and Patrick Jarjis. Last month, they closed on 6 units! Our Top Dog this month, for the individual with the highest sales volume goes to Saverio Montalto! Last month, he closed on 6 units with a total sales volume of $5,187,000. Our Top Dog winner for the group with the highest sales volume goes to Brooke Azimi. Brooke and her team closed on 6 units for a total sales volume of $1,941,000! Stay tuned for next month’s winners and keep up with us on social media!