Buyers – Are You Telling Them The Truth?
The question has been coming lately – how much do you tell buyers in the first meeting about the state of the market? In today’s world of multiple offers, escalation clauses and waived contingencies, it’s a lot to absorb for any buyer, especially a first time buyer.
There is the concern that you might scare them away, and the wistful hope that maybe they will get lucky and it won’t be that bad.
Here’s an important thing to remember: You didn’t create the market.
You didn’t create a shortage of inventory, or a surge in demand.
But what you CAN create is a scenario in which your clients feel informed and empowered to venture in and know that they will be successful.
How do you do that when it feels like so much is outside of your control?
Lay it all on the line at your very first meeting. But as with everything, it matters how you say it. More importantly, the context matters.
Here are 4 ways to help you frame the conversations in your next buyers appointments:
- Deciding quickly: Rather than being a source of stress – highlight that it’s a great filter to know whether it’s the right house. If a client is hesitating about making a quick decision it just means it’s not the right house. (without this filter it’s easy for Buyers to feel like they aren’t cut out for the market) Re-assure them that for the right house, it will be easy to say yes quickly.
- Paying over the asking price, and likely more than the last sales price in the neighborhood: Basing your max offer price on the last sale price in this market isn’t going to get it done. Whatever their sales price is will likely be the highest in the neighborhood, for now. And 6 months from now, when there have been other sales higher than theirs, they will feel like they got a deal.
- Waiving financing: This is a big one, and not to be taken lightly, yet it’s probably what needs to happen to be successful. Encourage your clients to talk to their lender early about what this could look like and what their plan B would be. If the house doesn’t appraise could they switch from 20 – 10 percent down to pay the difference? Knowing their options ahead of time is crucial to them feeling empowered.
- Focus on the interest rate: That is where the win is right now. They aren’t going to get a house 10% under market, but they are going to get an interest that will either allow them to buy more house than they thought possible, or give them a payment that is lower than they ever imagined.
In every scenario there is a benefit. This is a market that encourages quick decisions which empowers Buyers to have a clear yes or no on each house, which is much better than a “maybe”.
Whatever the market is, having clients fully informed from the very beginning empowers them, strengthens your relationship and makes the whole process a lot more fun.
To your success!
Signup to receive Nicole's blog posts via email weekly:
It’s okay to want more than you have now In fact, your wanting more SERVES THE WORLD Your desires have come to you for a specific purpose The Universe WANTS you to be happy and fulfilled Your pursuit of your heart’s deepest desires TEACHES THOSE AROUND YOU HOW TO DO THE SAME for themselves Conversely,…Read More
Just imagine… You’re finally able to sit back, relax and enjoy all of the amazing success you’ve had. Imagine waking up to a life that lights you up again. Consistently. Day in. Day out. How would it feel knowing that you are completely calm, relaxed, fulfilled and everything is working out? How would it feel…Read More
It’s the first question people as when they start doing energy work. The assumption is that once you start tapping into your energy, everything is always sunshine and roses. So when things don’t go as planned it’s easy to wonder things like – What if it’s not meant to be? What if I’m not worthy?…Read More
And the Universe will be there to meet you. I put this one to the test this week, and I’m so glad I did. Real Estate is my career, but inspiring others and teaching them to use Energy work in their business to reach their goals is my passion. I love it. More than that,…Read More
I love a long to do list. It gives me direction and makes me feel like things are happening. And there is something satisfying about crossing things off once they’ve been done. But it can also feel exhausting. There are days where I have diligently been in motion all day checking things off, and yet…Read More
I’ve always marveled at the collective mindset of buyers. There are typical market cycles that happen in a year – the first part of the year has the most price appreciation, things shift a bit in June as kids get out of school and summer starts, August can be slow with everyone out on vacation…Read More
The only person who doesn’t believe in you is you. Read that again. We so easily see talents in others, and are so hesitant to claim them within ourselves. And yet they are there. You have your own unique talents and gifts. You have a light within you that can shine brighter than you ever…Read More
Great question! The Success Perspective is the mindset and energy that you create to increase your sales and have the life you’ve been dreaming of. It’s the difference between taking a class and implementing a few things, but seeing little to no change in your sales. Or Making a few small tweaks that make a…Read More