Yes, the market is full of fear and uncertainty. Yes, selling and getting buyers qualified is harder today than it was last year, and there will be some that simply can’t buy. But there are many that can, and they are desperate for your help.
As interest rates and housing prices continue to rise, it’s easy for buyers to give up and think that they missed the affordability boat. It’s up to you to remind them of this old adage, “The best time to buy a home was yesterday. The second best time is today.”
It’s true, we may never see 2.9% home loans ever again, but historically speaking 6% is below average for the past 50 years, making this the best time in for foreseeable future to mortgage a home. Salespeople that give in to the ‘good old days’ mindset are missing the fact that there may never be a better rate – or time to buy – than today!
What to do:
Sales professionals always project a positive attitude that reassures buyers and builds confidence in their purchasing decision. They realistically acknowledge that as the economy tightens, some prospects will simply not be able to buy, but many will. Find and focus on those that have the ability and the need.
- Go through your CRM and isolate buyers that already have a building site. Create an incentive just for them.
- Adjust your product strategy to move from ‘options-heavy’ to standard offerings, understanding buyers are more value-conscious in a waning economy.
- Increase your marketing to promote your value proposition. Schedule both public and ‘invitation-only’ open houses for your top prospects.
- Update your website and social media and make good use of testimonials to build buyer confidence.
Buyers will be on the market until they find a sales professional willing and prepared to help them buy. Step 1: Make it your resolve to develop the mindset and skills you need to BE that Sales Professional.