TopOriginatorUndeground- What To Say To Buyers Who Are Holding Off On Buying or Refinancing
This is right from a conversation I just had with a client....
Before we even get into our topic of buyers who are “on the fence” I just want to be clear that I am NOT A FAN of scripts or the guru’s who push them.
Our job is to make buyers instantly like and trust us. So sounding like a robot using a script is never a good idea!
Just be yourself ! Some will like you — Some won’t — So what!
Find more of the ones that like you and your business will go up! Sounds simple and it actually is if you focus on doing it.
NOW — BACK TO THE BUYERS WHO ARE ON THE FENCE ABOUT BUYING OR REFINANCING!
I had a call with a buyer about an hour ago and she is getting a bit frustrated. She has put in multiple offers and none have been accepted.
She told me “ I think I am going to hold off until things calm down”
We can all understand her frustration but let’s look at some facts.
We are still in a sellers market with way more buyers than homes for sale.
We are still at historic lows for rates- just a few short years ago rates were in the 4’s
We are still seeing homes appreciate in the 10-20% range annually.
THE FED HAS SAID — they are going to stop purchasing bonds..( tapering)
Are we in a bubble- personally I think this is just pent up demand since we had a decade of low appreciation and much uncertainty. But heck- that’s just my opinion and the one I publicly proclaimed on NBC last week.
Time will tell if I am right or wrong.
SO WHAT DID I SAY TO THIS CLIENT?
“I totally understand your frustration. Any normal person would be@
But I think home prices are definitely higher than they were BUT they are lower than they will be next year.. and rates are lower now but will likely be higher next year.
On your current loan size a 1/2 percent rise in rates changes your payment by 90 dollars a month.
and if the home goes up 10% — your payment will go up 120 from where it would be now.”
It’s important to let the client know immediately that you understsand their concern and that you empathize with them. But you also must tell them what the downsides of waiting are and more importantly.. how it impacts them personally instead of just saying that rates will go up and so will home prices
Don’t JUST read this— go ahead and try it- and then leave your comments below
know someone who should read this too?
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Brian Sacks
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