Three ways to help your anxious buyers make an informed decision.
Now that interest rates are rising and the market is shifting, how do you get a deal done? There’s a lot of uncertainty, so some of your buyers might be getting cold feet. Our agents have been having the same problem, so today we’ll share a few ways you can educate your buyers and keep them moving forward:
1. The longer they wait, the more expensive it will be. Interest rates have been rising dramatically this year and are likely to continue climbing until inflation slows. On top of that, homes are still appreciating, so as these trends continue, your buyers might not be able to afford a home.
Remind them that they marry the home but date the rate—they should buy now in the price range they want and refinance later. This will let them leverage the price appreciation instead of just betting on a rate drop that may or may not happen.
“Don’t let your buyers’ fear drive your business.”
2. Be a market expert. You can’t control everything, but you can be an expert on price trends, inventory, and the days on market. Share this information with your buyer so they can make their own decisions. They might get scared by headlines, but they should ultimately trust you since you’re the local real estate professional. Build that trust by using facts and data about your market.
3. Help your buyers explore different financing options. Work with your local lending partners to get creative. Good lenders should have access to down payment assistance programs, rate buy-downs, or other ways to help buyers combat the changing market. See what your lending partners can do for your buyers and connect your clients with those resources.
Don’t let your buyers’ fear drive your business. You have a responsibility to help them feel more comfortable about making an informed decision. If you’d like help deciding which data you should share or how else you can ease buyer anxiety, call or email us. Our coaches would love to help you. And remember, it’s not the market; it’s the marketing that makes the difference!
