Real Estate NewsConvincing a Buyer that NOW is a Great Time to Buy?
Question: "How can I convince a buyer that now is a good time to buy?"
Answer: You can"t and you shouldn"t.
It"s just wrong to "convince" someone to make a huge decision like whether or not to purchase a home! Our buyers are adults and should be allowed to reach their own conclusions, based on their personal circumstances, beliefs and tolerance for risk. That said, you CAN help them reach the right decision for themselves by being knowledgeable, supportive and non-pushy.
Knowledgeable: Stay on top of market trends and data. Read those articles and reports that come across your desk or email regarding the local real estate market and economy (both the positive and the doom & gloomer ones). Be prepared with facts & figures in case your buyer asks for them (see below).
Supportive: Did you ever notice that when someone argues with you, you tend to dig in your heels and hold even more firmly to your opinion? I know I do, you probably do, too. So, if your buyer declares that the timing isn"t right for him to buy a house, acknowledge and respect his position. Don"t argue with it! Have you heard the saying, "Those convinced against their will are of the same opinion still?"
Non-pushy: Our buyers know that we"re paid on commission. Therefore, if you appear to be pushing them to do something they"ve decided they don"t want to do; you"ll likely lose their trust, and subsequently their future business. Buyers expect their agent to be looking out for their best interests, so any indication to the contrary (i.e. the agent seems more concerned with a paycheck than with the buyer"s needs) may seriously damage the relationship.
The Punch Line: Here"s the cool part. IF you are knowledgeable about your local market, supportive of your buyer"s opinions and you DON"T PUSH him, one of two things will probably happen.
First, once the buyer realizes you are on his team, he may actually ask you for your opinion on the matter, at which time you are free to give it (this is where having the above-mentioned market knowledge comes in handy). Once he asks for your advice, he"ll be much more willing to listen to it than if you"d pushed it on him, uninvited.
Or, second, he may decide not to buy a home right now, but will be back on your doorstep at a future date when he feels better about the market, the economy or his financial circumstances. And there"s nothing wrong with a full pipeline!