YES Talk 266- Buyers: "Should I Buy Now or Wait?"

Kevin Ward's YES Talk | Real Estate Coaching and Success Training for Agents

With interest rates going up, is this a good time to buy?

YES, if at least one of these applies:

1. The buyer wants a place to live and plans to stay for 5-10 years.
2. You’re in a market where buying is cheaper than renting.
3. You as the agent can help the buyer negotiate the best terms and price. You can negotiate to have the mortgage company buy down their interest rate (with seller concessions)

What to do with a lead or prospect that wants to wait:

1. Identify their motivation. The most important thing is to identify their reason for wanting to buy a house
2. Be the problem solver. If their problem is high interest rates, give them several options (i.e. you can negotiate to have the seller do a concession to buy down your interest rate, figure out ways to make it as good a deal or better than if they had bought 6 months ago.
3. Keep building the relationship. Shoot straight with them, so you earn their trust. And stay Top of Mind with them, so when the time comes that they’re ready to buy, they will reach out to you.