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Chew On This ... đź’­

In this month’s very first edition(!), our take on home insurance nonrenewals, higher real wage, your wealth plan, and Gary’s 2024 Aha’s.
Home Insurance Nonrenewals at All-Time Highs

Homeowner Insurance Nonrenewal Rates, 2023

Source: U.S. Senate Budget Committee

Annual home insurance nonrenewals reached unprecedented levels in 2023 and 2024 as insurance companies fled risky areas where natural disasters are frequent. Nonrenewed homeowners in states like California and Florida are left in the hands of the state-operated insurer, which is often more expensive and provides less coverage.

Clients can research existing flood plains and risk areas, as well as ask an insurance agent for a CLUE report during their due diligence period.

Just be sure you know great insurance experts!
Saved by the Bell

TCPA Update!

The One-to-One Consent Rule was set to take effect this week ...
and now won't.

 

Legal challenges to the rule were successful. With the change in administration, the FCC issued an order on Friday postponing the effective date of its own rule for at least one year. A federal appellate court based in Atlanta struck down the rule, concluding that the FCC under the prior administration exceeded its authority when it created the rule.

 

What this means:

  1. Consumers can continue to give prior express written consent to receive calls and texts to more than one company at a time; one-to-one consent is not required.

  2. Lead generation forms that use a single consent for multiple companies will still be effective.

  3. Nothing else has changed. You still must comply with the TCPA's requirements when making calls or texts.
Where the Ultra Wealthy Invest
“The notion that the path to great financial wealth is through diversified income is a lie perpetrated by individuals selling something. People get wealthy by focusing on one thing. Then, they can diversify their holdings but never their focus.” – Gary

Source: Chicago Booth Review

The Key: Real estate has firmly cemented itself as the top place ultra-wealthy people keep their money. Do you think this is a coincidence? No. Help people buy and sell as much real estate as they can. That’s their financial wealth plan, and it should be yours too.
Americans Watch 191M Hours of YouTube Every Day

Top Social Sites by Highest Monthly Users

Source: Statistica

Across all demographics in the U.S. (age, gender, race, household income, education, etc.) YouTube is the #1 social media app American adults say they use. Globally, YouTube and Facebook own the top spots for the highest number of active users worldwide.

When it comes to time in-app, the average American spends a little over 2 hrs/day on social media. The average adult spends about 48 min/day watching YouTube videos and about 31 min/day on Facebook!

Paid Facebook Ads remain the most popular within Meta and among social media advertisers – over $100B in 2024! Facebook Ads is number one because it’s easy. But it’s also expensive. On YouTube, your video is your advertisement and it’s a cheaper cost.

The more you post engaging, consistent, and relevant content, the larger and more loyal your audience will become!
Outrageous Listing of the Month

What do you get when you combine understated elegance and Disney extravagance? A house that has us screaming, “Don’t let it go!” This gorgeous KW listing closed Monday in Orlando, Fla. for $14.5M. From Elsa’s frosty mountaintops, to Nemo’s deep sea, to a galaxy far, far away, choosing just one featured photo had the office in a whimsical debate. For you real estate enthusiasts, see the floor plan and photos here.

 

If you have an outrageous listing, let us know!
Gary’s 2024 Aha’s

At the end of each year, Gary sits down and reflects on his aha’s, opportunities, and challenges. We thought we’d share them with you in their original form. Click here if you – like us – can’t read Gary’s writing.

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Join the Official Keller Williams Cappers Mastermind: The Clubhouse

The next Mastermind invites have been emailed to you, and take place during Family Reunion on Thursday, Feb. 20, 2025. If you have not received your invite to in-person Masterminds, please reply to this email or reach out to imwithgary@kw.com.

Edition 1 | January 2025

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