You're probably hearing a buyer say this to you. They're saying, "Hey, I wanna wait. Let's put a pin in this because I wanna wait and see what happens with the market."
Now if they say that to you, what's your response?
The language of sales matters. We're not trying to manipulate people or push people, but we wanna understand where they're coming from. And help them understand the market a little bit better.
So my response to that would be something like this:
I'd say, "Hey, I totally get it. I wanna move at your pace. I don't want you to feel rushed at all. But I do have a question for you because I wanna understand where you're coming from: What's the value in waiting?"
I'm gonna let them answer and they're gonna probably say that they think prices or maybe interest rates will come down. And my response to that would be:
"I totally understand. And if that's where you're at, I'm totally cool with that, as I said. But lemme give you just something to chew on here: Right now a lot of buyers are seeing this as an opportunity, not a problem. And I'll tell you why. Because what's happening is buyers are gaining power and there's a lot of sellers that are reducing their prices every single day. And there's some sellers that are flat out panicking cuz they're not selling. 60% of the listings on the market today have been on the market over 30 days. So buyers are out there really picking up some amazing deals.
And the way they're looking at it, they're looking at it is, I'm gonna pick up this amazing deal and I'm gonna get it out a huge discount on what I would've paid last year when people were doing multiple offers and all kinds of crazy stuff. And now I'm just gonna hold that. I'm gonna have a little bit of a higher payment because of the interest rates. But when interest rates come back down—and they always do—I'll just refi it at that point.
So we marry the house and date the rate. That's what we call in the industry. So if you're with your permission, what I'd like to do, if you're okay with it, I want you to tell me what your perfect house looks like for you. Then just let me be on the watch as you kind of your advocate in the market. And if I see a really good buy—I won't bother you with other stuff—but if I see a really good good buy, I'd love to tune you into that. Is that cool?"
Now, who are they gonna look at as their advocate? And if they say no, that's okay too.
Remember, these buyers are gonna come back in mass as soon as that interest rate dips below six and a half percent or six percent, you're gonna see a rush back right to the market.
But in the meantime, this is an opportunity for you to really educate buyers about the power they have in the marketplace.
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