I came across an article in Innan News by Matt Carter (might only be viewable by subscribers) from last October which really hit home, especially in the Metro Atlanta market where we have a very large standing inventory of homes for sale (10+ months). The gist of the article is based around the growing nationwide rise of housing inventory and the fact that the Feds have left interest rates alone for quite some time.
With those thoughts in mind, today's Buyer may be thinking that the "best buy" is just around the corner and with fairly stable interest rates, there's not the same sense of urgency as in a more stable housing market.
Carter has a few suggestions on what an agent might do if they find a property that meets the Buyer's needs, is fairly priced and the Buyer "remains on the fence"?
Buying a house (as we all know) is extremely stressful for a Buyer and one of their main concerns is financing. One way to ease their minds and build confidence is to go over the numbers first. Have them speak to a lender to find out just how much house they can comfortably afford (standard operating procedure, right?).
In our initial contact with the potential Buyer, consider doing a Buyer's analysis of their housing needs that can be used as a checklist as the process moves forward. I have found this to be a great tool when a Buyer is waffling just a little. The checklist gives us a clue as to whether the hesitation on making an offer is rational or emotional. We all know that the Buyer knows "the right house when they see it" right?
The article goes on to talk about educating our Buyer clients/customers that "homes tend to be good investments and the only way many Americans ever save any money."
The article also touches on the "renters" market and indicates that it is rapidly shrinking. When we educate Buyers as to how much they can "save" by owning a home, it opens up that whole target market. The question is, at least for me, how to reach that transient market.
There are 3 parts to the total article and IMO, worth a look-see
As always, comments and questions are welcomed.
Comments(11)