Updated: Nov 8
The biggest topic we are seeing online today are all about Buyers. With the media right now, the potential Buyers are hearing what is on the news, at the water cooler at their workplace as well as family member conversations but most are based on the National Media "Click Bait" type of news and we know doom and gloom seems to sell so how, as agents can we overcome these objections?
In a recent Tom Ferry Blog, he had some great questions and scripts that agents can use during this shifting market. Here are some great takeaways.
When a Buyer talks about how the market is "tanking, or that we are in a housing market crisis or that this is the worst possible time to buy, here are some great talking points.
Ask them in a polite way - Would you mind sharing your sources?
Ask if anyone has taken the time to show them the real data in your local market?
KCM recently did an article with some great resources you can use, "Separate Facts from Fiction" Click Here to view them!
Myth 1: Home Prices are going to Fall
FACT is that experts aren't calling for a decrease in prices. they forecast appreciation will continue, just at a decelerated pace.
Myth 2: The Housing Market is in a Correction
FACT - According to Fobes, a correction is a sustained decline in the value of a market index or the price of an individual asset. A correction is generally agreed to be a 10% - 20% drop in value from a recent peak. We aren't in a correction because home values are still increasing, we just aren't having record breaking increases like the past couple of years.
Myth 3: We are heading back to 2008
FACT: During the last housing bubble, it was much easier to get a mortgage than it is today. Since then, lending standards have tightened significantly, and purchasers who acquired a mortgage over the last decade are much more qualified than they were in the years leading up to the crash.
Some key words:
Appreciation, or an increase in home prices.
Depreciation, or a decrease in home prices.
And deceleration, which is an increase in home prices, but at a slower pace.
Have your local stats available for when you are meeting with a Buyer or Seller. Share this information to your social and better yet, do a quick video explaining what the numbers actually mean for your market!
Gather local Real Estate Market Information & Articles. Add them on your website & Social as well as close by and be prepared while talking with potential Buyers.
Words of Wisdom
SUCCESS is where preparation and opportunity meet - Bobby Unser
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