Dan Mumm, A Top Producing Real Estate Agent Talks About Challenges in Today’s Market & How to Overcome Them

Top Producers talk about the challenges they face in today’s market… and how they are overcoming these obstacles.

Dan Mumm, a mega top producing agent who lists over 120 homes per year in Las Vegas for Huntington and Ellis, shares his insights about the diversification of lead sources, where he’s generating business and how he makes his listing presentation unique.

Dan notes that with the shift in the market, agents must do more to compete. He also notes that more prospecting with more lead sources leads to stronger skills when negotiating with buyers and sellers, who are trying to adapt to higher interest rates and lower home values. Dan regularly speaks at Mike Ferry Retreats and is highly-regarded in the listing agent community. Part 1 of this 4-part series of interviews focuses on “overcoming today’s real estate challenges”.

Video Summary

  • Steve Cortez interviews Dan Mum from Huntington & Ellis in Las Vegas.
  • Discussion focuses on real estate, market trends, and strategies.
  • Dan sells 109 homes in the past year, aiming for the same number this year. Previous year had about 91 sales.
  • Market shift began earlier than Mike Ferry’s June 2023 prediction, starting around March-April 2023.
  • Interest rates increased from 3% to 6-7%, leading to a spike in inventory (from 3-4K homes to 11K).
  • Inventory has since decreased to around 4,500 homes.
  • Negative media focuses on interest rates and market shortages.
  • Dan believes these challenges are agent-created rather than consumer-created.
  • Buyers have adapted to higher rates, and many who needed to move have done so in the current market.
  • Dan focuses on prospecting and diversifying lead sources (e.g., For Rent By Owners).
  • Mike Ferry encourages diversifying lead sources for better results.
  • Main source of business: Dan’s database.
  • Additional sources: Expired listings, For Sale By Owners, For Rent By Owners.
  • Dan focuses on the seller’s needs, making each listing unique.
  • Every client and sale is treated individually, emphasizing personalized service.
  • Dan uses all of ArchAgent’s services, finding value in their data filtering.
  • ArchAgent helps Dan avoid junk leads, allowing him to focus on quality prospects, saving time and improving efficiency.

Listing Agents are the backbone of the real estate industry. Top producers rely upon ArchAgent’s tools and resources to maintain a steady stream of listing opportunities. Learn more  about how highly successfully agents are improving their game using the Propensity To List neighborhood service.