If you notice that the leads you generate and follow up on remain reluctant to close a deal, you’re challenged with inspiring immediate action and urgency while the market is in their favor. So here’s a closer look at the importance of building urgency to list or buy homes in the fall/winter marketplace.
Realtor.com published an analysis report saying that the week of September 25th – October 1st is the best time to buy. Money.com (originally known as Money Magazine) picked up the report and republished it, reaffirming its findings.
They considered selection, competition, negotiation, and interest rates when forming their opinions. Using these third-party opinions is valuable in helping back what you might say to your clients. With their input, you have better chances of driving them to action.
Younger generations may not idealize the American dream of homeownership as much as their elders. It’s up to you to present its benefits to your clients by understanding the latest statistics and presenting them to your clients.
In particular, the average net worth of homeownership in the U.S. is $277 thousand. Some of that is the equity of their home, and others are their assets. Meanwhile, the average net worth of a renter is $6 thousand. Considering these figures, you can build urgency by asking what kind of person your client wants to be.
You can also build urgency by presenting the fact that they can fix their housing costs through homeownership. For example, national rent rates are up by 12%, making it a great driving factor in securing a home.
Understand why your potential clients think that waiting is their best option. Perhaps the media convinced them that the market would change in six months. However, assure your clients that you are an expert in the industry by presenting them with information from reputable sources so you can correct any misinformation they encountered.
Be sure to present the facts directly from your industry that would debunk any false information your potential client may have absorbed. Accordingly, you must remain on top of the latest trends in the robust housing market and understand how to relay that information to a non-specialist.
However, you must give your client the chance to make up their mind on the matter instead of forcibly recalibrating their thoughts. For instance, you could lead with questions such as, “If you were drawing information from a source that was causing you to miss a very good opportunity, would you want me to tell you?”
Understand that the fear of missing out is no longer the primary driving factor in any real estate market. You must establish urgency by focusing on why your prospects should take action now.
Align the economic factors, review our workbooks, cite the Realter.com analysis, and understand the Money.com article. With these tools, you can position now until early next month as buyers’ best opportunity this year.