This Script Stops You From Losing Buyers Who Want to Wait

What’s your response when the buyer says to you, “I think we're going to put a pin in this right now. We're just going to wait and see what happens with the market.”

Your first response should be, “Hey, totally understand. Let me ask you, what do you see as the advantages to waiting?”

Dig deeper. Figure out what's going on in their heads.

Most of the time they're going to say that they’re waiting for interest rates to drop or prices to fall.

When you hear that, what are you going to do?

You could say, “Well, we'll wait and see with you,” and then follow up in six months. But if you do that, they'll end up signing up on some lead form, getting captured by another agent, going to an open house, or being connected with someone else through a referral, and you're probably going to lose them.

That's the reality.

So instead of doing that, here's what I'd recommend.

Say, “Hey, totally get it. Waiting for interest rates to stop seems like a safe bet, seems like the wise decision to make. But I want to put it into perspective. What would interest rates need to be for you to make a decision to move forward?”

Let’s say they say “6%, or under 5.99%.”

If you hear that, remember we’re at the lowest rate on interest rates we’ve seen all year — about 6.15%. The difference between where we’re at and a 5.99% rate on a $400,000 house today is about a $50 difference in payment.

So it’s not as much as people perceive it to be. When you can equate it to real numbers, it helps them understand if it really makes sense.

Because one thing we can all agree on is that rents are going to continue to increase.

The other thing is pricing. Prices are projected to rise next year by 2.3% according to all the major players in the marketplace. When you average them all out — Mortgage Bankers Association, the National Association of REALTORS, the National Home Builders Association — as of mid-October, they’re projecting 2.3% increases in price.

That’s not wildly high, but it’s also not negative. So the longer we wait, the more it costs.

You could go on and on with the data with buyers, but it’s going to go over their heads.

So speak to is the reality instead by saying:

“Here’s the way I look at it: you don’t buy the market. The market always feels like it’s too expensive. What we’re buying is a specific house in the market. My job, when I’m working with people just like you — and everybody wants to find an affordable home — is to find a home that fits your budget and that you feel really, really good about making the investment in.”

“And can I tell you a quick story?”

Now, when you tell a story, this whole conversation changes course.

Like this:

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“I had some friends of mine who were just like you. They wanted to wait, and I encouraged them to keep an open mind. Let me go out there and look for the home — because we’re not buying the market, we’re buying a specific home.

And I stumbled into a fantastic buy for them.

I didn’t really stumble into it — I did a lot of work to find it. But what I found was a home the sellers were really motivated to sell. They were being relocated. The home probably should’ve been listed for $450,000. We ended up getting it for $420,000. Then we negotiated another $10,000 off and got them to even pay some closing costs.

So they got this song of a deal because they stayed in the market.

Here’s what I’d recommend: if you allow me to do this, let’s stay in the market. Let’s not miss opportunities.

Let’s just do a low-level search. When I see something that’s a really, really good buy that hits all your cylinders — something I think you should take a look at — I’ll give you a call or a text.

You cool with that?”

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They say yes. Now they’re staying in the market.

This is the most important thing to do with your buyers.

They’re not going to be on your hot sheet, but they might be on your warm sheet. They might be someone who could be buying in the next six months to a year, but you’re consistently sticking with them. You’re staying with them. You’re still their agent.

It’s so, so important to have that conversation.

The more stories you can tell around that conversation, the better.

If you like ideas like this and want to take your business to the next level, check out The Path Performance Coaching Program — it’s only a dollar for your first month and very affordable thereafter.

Love to see you in the program. Take it for a test drive and see what you think.

Have a great day — good selling.
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Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?

+ 32 Years of Real Estate Sales, Management, and Coaching Experience
+ Top 1% REALTOR Himself (he has been in the trenches)
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+ Grew his Real Estate Company to 17 Offices (largest in Oregon)
+ His Current Team Closed $1.4 Billion in Sales in One Year
+ He is a Current Real Trends Top 500 Broker

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