GROW WITH LIBERTAS & EXP REALTY
By Tim & Julie Harris · October 12, 2026
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Mortgage rates just climbed to 7.40%, up from 7.28% a week earlier, and the average agent in your market is about to go quiet. That's the best news you'll hear all week, because when they stop calling, the whole field opens up for you.
And there's more good news hiding behind the headlines. Buyers are getting more help from sellers than they have in years. Washington is cutting the red tape that makes new homes so expensive. And some of your past clients are paying for mortgage insurance they don't need anymore. Today you'll get the headlines that matter, plus the exact call that brings back every lead who disappeared when rates went up. The market isn't the problem. Silence is.
1. Rates hit 7.40%, and your buyers' negotiating power went up with them
What happened: Freddie Mac's weekly average for a 30-year fixed mortgage hit 7.40% on October 8, up from 7.28% the week before. But Redfin says nearly half of buyers are now getting concessions from sellers, like help with closing costs or a rate buydown. The share of sellers cutting their price hit a September high in Redfin's records. Plus, NAR counted 1.62 million homes for sale in August, 4.9 months of supply.
Why you care: This is the best time in years to be a buyer's agent who knows how to negotiate. Your buyers aren't just paying a higher rate. They're getting help paying for it.
What to do: Ask for concessions on every offer this fall. Talk to your lenders about how a seller-paid buydown lowers the payment, and put that number in front of every buyer who says "rates are too high."
Action point: Call every buyer lead and every buyer-seller lead in your database this week with the good news. They have far more negotiating power than they did a year ago, and in most markets more homes to choose from. Most of them have no idea.
Say this:
"Hi Mark, I wanted to call you with some good news. Buyers have more negotiating power right now than they've had in years. Sellers are paying closing costs, buying down rates and cutting prices, and there are more homes to choose from. If you're still thinking about a move, this could be your window. Want me to show you what that looks like in your price range?"
2. Washington is cutting the red tape that drives up new-home prices
What happened: HUD says regulations add nearly $94,000 to the price of a typical new home. In March, President Trump signed executive orders to remove regulatory barriers to home construction and make it easier to get a mortgage. In July, the ROAD to Housing Act became law with wide support from both parties. It speeds up federal environmental reviews for housing and makes manufactured homes easier to build and finance.
Why you care: More homes means more sales, and new construction is where a lot of first-time buyers are finding their way in. HUD Secretary Scott Turner told builders last month that HUD wants to empower them "by getting out of their way."
What to do: Get to know the builders in your market. Walk two new-construction communities this month, meet the sales reps, and ask what incentives they're offering. Builders love agents who bring them qualified buyers.
3. Your past clients could be paying PMI they don't need
What happened: On October 2, the Federal Housing Finance Agency announced that Fannie Mae will now let lenders contact homeowners who qualify to cancel their private mortgage insurance. Freddie Mac already allowed it. If a home has gone up in value or the loan has been paid down, the owner can qualify. Most loans require about two years of on-time payments, and an appraisal usually costs $500 to $700.
Why you care: Anyone you sold a home to with less than 20% down in the last few years could be paying PMI they don't need anymore. NAR says this "will put more money in some homeowners' pockets."
What to do: Call every past client who bought with less than 20% down.
"Your home has gone up in value since you bought it. Let's find out if you can get rid of your mortgage insurance. Want me to run a quick value check so you can call your lender?"
It's the most welcome call they'll get all year, and it starts a conversation about what's next.
The "paused or still moving?" call
Every time rates jump, your pipeline goes quiet. The buyer you were showing homes to in July stopped answering your texts. The seller who wanted to list "after the kids go back to school" went silent. Most agents write those people off, but most of them are just waiting for somebody to pick up the phone.
Life keeps happening no matter what rates do. People still get married, have babies, get transferred, go through a divorce and lose loved ones, and those folks need to move this fall. There are fewer of them, so you have to talk to more people to find them. That's the whole game right now.
Here's the call we want you to make:
Pull your list. Every lead and past client you haven't actually talked to in 60 days. Not texted. Talked to.
Make the call. "Hi Sarah, it's Julie Harris. It's been about four months since we talked about your move. Is that still something you're thinking about, or have you put it on pause?" Then be quiet. The silence is where the answer comes from.
If they say "paused": "That makes total sense. What's causing the pause?" Sometimes it's rates. Often it's a job, a health issue, a family situation. Now you know what you're really solving.
If they say "still thinking about it": "What's got you thinking about moving?" In this market, motivation is everything. Someone who has to move will find a way.
Leave a voicemail, then text the same question. People who won't pick up a call will answer a text in five minutes.
Make it a real conversation. A text thread or a voicemail doesn't count. Talk voice to voice, get on Zoom, or best of all, sit down with them in person.
The math behind 10 real conversations a week
Here's why the number matters. Say it takes about 50 real conversations to close one deal. Ten real conversations a week adds up to about 500 a year. That's roughly 10 more closings.
Your challenge this week: 10 real conversations. Voice to voice, over Zoom, or best yet, in person. Count how many people say "still thinking about it." Hit reply and send us your number. We read every one.
Listener question: "My buyer got rate-shocked. Should I let them wait?"
"My buyer got rate-shocked and wants to wait until rates come down. Should I let them?"
You don't let them or not let them. It's their decision. But you owe them the full picture.
Ask: "If rates stayed exactly where they are for the next 18 months, would you still want to move?" If the answer is yes, this isn't about rate. It's about payment.
Remind them what they get today that they won't get when rates drop: more homes to choose from and sellers who will negotiate. Redfin says nearly half of buyers are getting concessions from sellers right now. When rates drop, that disappears.
Get their lender on the phone to talk about seller-paid concessions and rate buydowns. Buy the house you can afford today, and refinance later if rates fall.
Listener question: "Everyone in my office says the market is dead"
"Everyone in my office says the market is dead. How do I stay motivated?"
Get out of the break room.
Close to 5 million homes are still going to sell in the U.S. this year, counting new construction. Somebody is closing those deals. Decide it's going to be you.
You can't control the market. You can control how many people you talk to today. Track that number, not your mood.
Find the one agent in your office who's busy right now and take them to lunch. Listen more than you talk.
What to do this week
Five concrete moves:
One: call every buyer lead with the good news. Use the "Hi Mark" script, and have your lender show what a seller-paid buydown does to the payment.
Two: ask for concessions on every offer this fall.
Three: call every past client who bought with less than 20% down about dropping their mortgage insurance.
Four: walk two new-construction communities this month and meet the sales reps.
Five: make the "paused or still moving?" call until you hit 10 real conversations. Premier Coaching has the scripts and the accountability: $1 for a 7-day trial at premiercoaching.com.
The bottom line
Rates are a headline. Conversations are a business. Buyers have more negotiating power than they've had in years, sellers are paying to close deals, and some of your past clients are paying for insurance they don't need. Most agents will see 7.40% and go quiet.
Go have your 10 real conversations this week, and we'll see you tomorrow. Get to work.
Want someone in your corner holding you to those 10 conversations? Join Premier Coaching. And if this issue helped, forward it to an agent who needs it. They can subscribe free at HarrisRealEstateDaily.com.
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If you called every lead who went quiet when rates jumped, every buyer who doesn't know sellers are paying for buydowns, and every past client still paying PMI, how many of those "paused" clients would be under contract with you by spring?
— Tim & Julie Harris
Founders of Tim & Julie Harris Real Estate Coaching | Publishers of Harris Real Estate Daily | Hosts of PowerHouseTalk | eXp Realty Sponsors at Libertas
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