I know we have heard the old saying, “What can it hurt to wait and think it over?” Many times it can’t hurt. Now, however, it can hurt a lot.
In just the last 4 months, we have seen interest rates raise about.5%. In addition, home prices have gone up about 10% in those same 4 months. So, basically, someone delaying the purchase of an average home here in Las Vegas by simply 4 months cost themselves an extra $60,000 over the life of their home just by waiting.
What we must realize is this: when we want to think it over, what we are really saying is, “I have a question”. All that someone does in the process of thinking it over is answer that question. Mind you, they may not realize what the question is yet. That is why when someone tells me they want to think it over, I simply say, “Great what questions do you have?” 99 times out of a hundred, they will say they have no question. At this point I simply explain, “If you didn’t have a question, you would have nothing to think about – you would just make a decision. So, if you did know what that question might be, what do you think that question would be?”
In this manner, I give them full permission to share their question. Even if they may think it is stupid. When we know the question, we can help with the answer – even if the answer is don’t go ahead with this.
The best thing that we can do as professionals is to prepare our clients and answer as many questions as we can before they even think of them.
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