Go and find an elevator
I spent part of the day yesterday learning about the new NAR “Surround Sound” campaign, a grassroots effort targeting potential home buyers who are “on the fence” which is all about why now is a good time to buy a home.
I left with a better understanding of how to deliver this message any and every chance I get to a member of the public, because I do think this is a great time to be in the market as a buyer. The real question is, do you?
What are you telling your buyers when:
They say they want to wait until the price goes down on a new listing you just showed them?
They heard prices haven’t reached bottom yet and they don’t want to lose money on a purchase if that is true?
They mention interest rates are at historic lows, there is no hurry to lock a loan?
They point out he average market time in (fill in the blank) is over 200 days, so there is no hurry to make an offer even though they do like the house.
Don’t be the agent who lets these comments go by. Your silence is validating their inaction, and if you believe now is a good time to be a buyer, none of the above is credible. We all know a smart buyer in any market does not let a good value go by; a home is a long tem investment and a place to live, not an online stock day trade; inflation is lurking and the corner and that means rates will not stay low much longer; right priced property can and often does sell immediately.
These are my quick responses to those comments, there are many more and many better ones, I am sure.
My point is, you are the expert, the advisor, the interpreter of the mountain of information the average buyer is trying to digest as they make their way through the marketplace. It is time to take some ownership in being good at what we are being paid to do because waiting is bad decision making, and we are not supposed to stand quietly by while our clients make poor choices.
This is not about being a cheerleader for the sake of drumming up business. It is about how you present a compelling argument that low rates, great inventory to shop, reasonable seller expectations, expanded loan programs and buyer incentives all point to now being the best time in recent memory to buy.
In other words, what is your 30 second elevator speech when someone asks you about real estate?
Clear, concise and to the point, it needs to be something in your own words. It needs to be your truth and your mantra. It needs to have statistical proof (know your market!) to back it up and you have to believe it to say it right.
Don’t be surprised if you aren’t asked to share yours in an office meeting or with a little luck, the next time your client asks your opinion about being a buyer in today’s market.
Next- What message are you giving your sellers about the market?