The Fed Pulse

• No Rate Cut in November? Don’t Hold Your Breath:

  Don’t expect the Fed to swoop in next month with a rate cut.

  December? Maybe.

  But the Fed's not exactly in a hurry.

• Money Supply Moves Up Again:

  For the fourth month in a row, money supply (M2, adjusted for inflation) is up.

  That’s a solid sign of economic strength and hints at a stock market bounce post-election.

  We’ll see if this trend holds.

• Housing:

  • Existing Home Sales Are Weak:

    This could sway the Fed toward a cut by December.

    We’ll take it.

  • Housing Permits on a Slow Decline:

    New single-family home permits look okay but are sliding a bit. The Fed will be watching, but no fireworks here.

  • New Home Sales Bounce Back:

    This rebound might make the Fed think twice about cuts.

• Consumer Sentiment Creeps Up:

  Despite political noise, consumer expectations are up.

  Maybe inflation fatigue is finally fading.

  This positive vibe could shape up the landscape post-election.

• Overall Economy Check:

  Recession?

  Not likely.

  But a few sectors, like industrial equipment, are in a slump.

  Rate cuts? I’d bet on one in the next quarter or two.

  Keep an eye on locking in if the rates slide.

Deep Dive

Want to see my FB lead conversion process?

Shh… What’s that sound?

I think I hear my leg winding up, ready to give you a kick in the pants.

Because many of you in commercial real estate aren't using Facebook Marketplace to lease your properties.

And this is where we get half of our tenant leads for small spaces.

And you should, too.

When I say small, I mean 2,000 sq. ft. to 5,000 sq. ft.

Also, let’s talk about one of the questions I get more than any other:

“How can I get more leads?”

This is from folks who already have some ads going.

Here’s the reality: nine times out of ten, it’s not a lead problem; it’s a conversion problem.

And yes, even my team faces this from time to time.

Case in point— I set a target to generate 15 tours each week for properties we are actively leasing right now.

We usually aim for a 5:1 tour-to-lease ratio.

But a few weeks ago, our tours dropped to 6-8 per week.

My team’s immediate reaction?

“We need more leads; these leads aren’t good.”

But, when I dove deeper, I found the root cause.

We’d made a small change in how we handed off leads from the initial call to the property showing.

That minor tweak interrupted our prequalification process, and tours dropped by 50%.

I made adjustments, and—boom—our tour numbers climbed back to 20+ per week.

Signed leases started rolling in again.

So, how can you do the same? Let’s dive in.

First off, for spaces under 5,000 square feet, Facebook Marketplace is an absolute goldmine.

There’s no secret sauce or magic ad copy here.

If you’re short on leads, it’s often due to one of these three issues:

1. Boost Your Ads Consistently – Visibility is key, so keep your ads boosted at all times.

2. 12 hours / 7 Days Lead Coverage - We run 12-hour coverage, seven days a week, with 2-3 minute response times from 8 a.m. to 8 p.m.

3. Don't Overqualify - FB Marketplace leads are often low-quality.

   There are many dreamers. But there are diamonds in the rough if you work through them.

Here’s our prequalification process for Facebook Marketplace leads.

We reply to the first inquiry with this:

Yes, that’s available! May I ask, what business do you have?

We then go into these questions without delay, creating the feeling of a live conversation.

1. Is this a new business or an existing one?

2. Where is your other location?

3. The smallest size I have is 1,500 sq ft. Do you have a rough idea of what size you need?

4. The smallest monthly rate is $2,000. What’s your budget?

5. (If flex space) Do you need dock doors or drive-in access?

6. (If food-related) Do you need a hood?

7. (If retail) Do you need a storefront, or do you rely on foot traffic?

8. My phone number is XXX-XXX-XXXX. What’s the best number to reach you?

9. Let’s meet on Friday between 1-2 p.m. at the property, and I’ll show you around.

If they go silent, we Go for NO. 

After three days without a response, we move on.

Here’s the follow-up sequence I use:

1. Day 1: “I hate to be a pest. Just want to make sure I’m not dropping the ball on my end.”

2. Day 2: “I might be off base here, but it seems like this space might not be a fit for you. No hard feelings—just let me know.”

3. Day 3: “I must have said something wrong. If I don’t hear from you, I’ll assume you found something else and close this chat later today.”

This approach is about knowing when to let go so you can focus on the next viable prospect.

If you’re serious about boosting your closing ratios, you need to read these three books.

1. Go for No! by Richard Fenton & Andrea Waltz

2. SPIN Selling by Neil Rackham

3. Never Split the Difference by Chris Voss

Each one has been a game-changer for our approach to leads and conversions.

As always, if this has helped you, shoot me a message—I read and reply to every email.

And, please share it with your friends.

Be Well,

Saul

News & Moves

1. 73% of Amazon employees are eyeing the exit after the five-day in-office mandate.

Leadership hopes to strengthen collaboration, but with remote flexibility fading, tension is high.

This shift could reshape Amazon's workforce.

2. The U.S. still dominates the productivity game, big time. 

Each worker generates $171,000 a year, powered by relentless innovation.

With 3.5% of GDP invested in R&D, America drives high-value sectors like tech and finance.

A fluid job market and startup growth push U.S. productivity 70% higher since 1990