3 Ways to Handle Fear of BuyingMay 25, 2023
What are you hearing from consumers in your marketplace? Do people generally feel that now is a good time to buy a home? Are you experiencing a change in the way your clients and prospects respond to your qualifying questions?
Are you hearing a lot of “Not now” or “Maybe later” or the dreaded...
“We’re going to wait until rates come back down” from buyers?
In 1978, the Gallup Polling Company started asking Americans how they felt about buying a home, and have done so every year since. During the housing crisis in 2006-2008, over half of Americans surveyed still believed it was a good and safe time to buy real estate.
This year only one in five believe it is a good and safe time to buy real estate. Just 21%.
Let that number sink in. It is the lowest number in 45 years.
Is it any wonder so many people are putting you off?
But the poll results didn’t show all bad news. Most Americans believe home prices will continue to go up. And most still rate real estate as the best and safest investment to make. In other words, our clients and prospects believe it’s a good thing to buy a home, just not a good time to buy now.
Instead of waiting for consumer sentiment to improve, here are three things you can do right now to handle this extreme emotional climate.
- Work listings. Starting every Monday, work on bringing in a saleable listing first. Oh, heck, it doesn’t even have to be totally saleable. Just get listings. Demand is still high in most markets, and supply is still short. It is a great time to be a seller.
- Focus on “have to” buyers, those with an immediate housing need. If they won’t CITO, keep in touch until they do. If they aren’t pre-qualified, keep in touch until they are. If they don’t have to buy now, keep in touch until they do. If they won’t agree to work exclusively with you, build a more compelling and persuasive presentation. If you need help differentiating between lookers and buyers, click here to download the Valid Buyer Criteria Checklist.
- Develop sources of off-market properties. Show for sale by owners. Show expired, canceled, and withdrawn listings. Watch for Coming Soon listings. Prospect neighborhoods where your buyers want to buy, using the Specific Person approach and dialogue. Be prepared to make “curb offers.”
Stop waiting. Take action.
And as always, if you have questions about these recommendations, or need to brush up on a dialogue, there is no better time to take the Digital Floyd Wickman Course, especially if business is slow ;)
If you clicked this blog post hoping we would tell you exactly what to say to help potential clients overcome hesitation, then it's time to refresh your selling skills. The Digital Course is the best way to do so, not to mention the most cost-effective.
Join our mailing list to receive the latest news, updates and discounts from our team.
Your information is safe with us.