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How do you encourage buyers to act instead of waiting?

How do you encourage buyers to act instead of waiting?

You explain that it's a great market. You are never going to know when we have hit the bottom and once the market turns, interest rates will go up.

I ask buyers how far they think it's going to go down, if they say they don't want to buy until the very bottom of the market.

When they say perhaps another 5%, I suggest they just offer 5% less. People are afraid and we just need to educate them about everything. They need to feel that they are being heard.

Posted by Andrea Palmer Phone 239-333-5556 on 02/28/2009 06:38 AM

Comments (9)

9 Comments on How do you encourage buyers to act instead of waiting?

FEB

Its hard when the rates are suppose to get better and prices falling and inventory high and, and, and, They just have to make the decision. I do all I can do.

Very difficult and very frustrating! This is the mentality however. I wonder, the day it hits bottom are we going to be overwhelmed by buyers putting in offers?

I second what Laura said. You can lead a horse to water...

I think using the 8K tax credit with a term limit of this year may help a little but my fear is that buyers may want to push back the purchase because they have 10 more months.

Wa give them all the accurate information we have and then let them make the decision. If they decide to wait, keeping the communication open with more information is the most important thing we can do.

Mary

I think the tax credit is working, now that you don't have to pay it back I think people will jump on the bank wagon and buy some of these homes up at good prices.

Andrea, the only way to find out when the market has bottomed out is when it starts going back up again. I like your idea of reducing the price by the percentage they think the market will fall.

Andrea, don't forget the interest rates. Prices may go down a bit more, but gambling that interest rates will stay this low may be foolish.

Great points, but some are still holding back. I think once the weather breaks (here anyway), we will see much more activity. Lower priced homes are moving.

I am just falling short of using a bull horn to announce the tax credit to first time home-buyers!

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