by Michael Perna
on Tuesday, October 13th, 2020 at 2:59pm.
Here’s some advice for overcoming buyer objections in today’s market.
I’m sure you’re encountering buyers that are hesitant about buying in the current market. I know we are, but we’ve found a cool way to help overcome that.
Many potential buyers out there are unsure about whether they want to buy right now or not because home values are going up and up.
So how do you combat this?
The reality is that today’s interest rates will not last forever. As the economy continues to improve, they will go back up. That being said, right now is the time for buyers to take advantage of these low rates and get a better home for their money, saving thousands in interest over the course of their home loan.
We recently went out and found two dozen properties around the Detroit Metro that had gone unsold in 2019 but came back on the market in the last couple of months. Not only did they sell, but they sold for a higher price with multiple offers. One property in particular was on the market last year at $399,000 and didn’t sell, was put back on the market this year at $450,000 and received multiple offers.
As the economy improves, interest rates will increase.
I would wager that there are a ton of examples like these in your market as well, and it’s worth showing your buyers. This shows us exactly which direction the market is headed and what that will mean for future buyers.
When the music stops, the market won’t go down. It will just hold. When the music stops is when interest rates head back up. There is no evidence anywhere to suggest that home values will go down.
As always, if you have a referral in Southeast Michigan, we would be honored to serve them at a high level. If they are outside of our area, we have great referral partners located throughout the state that we would be happy to share with you.
Please feel free to call me directly at 248-714-0980 with any questions, referrals, or if you would like to take a look at our Bootcamp program and see how our agents are averaging 37 closings per year. If you’re considering getting into real estate, check out our real estate agent scholarship program at REScholarship.com. If you have any other questions, don’t hesitate to reach out to me.