Getting cold feet when buying or selling a home is understandable. This is one of the biggest, most life-transforming transactions a person will ever make. When the industry is in a challenging place, it’s extra important for real estate professionals to know how to address concerns. We reached out to some of our 2023 RISMedia Real Estate Newsmakers for their thoughts on the following question: “How do you convince your clients that now’s the right time to buy or sell?”
Here’s what they had to say:
Achievers
Anam Hargey
Broker/Team Lead
@properties
“For sellers, it’s easier to convince them to sell because it’s very much still a seller’s market here in Illinois. For buyers, it’s better to buy now when a lot of other buyers are taking a step back and waiting for interest rates to drop. Once they do (come) down, it’ll be a frenzy all over again and we’ll continue to have the same problem. So while there’s competition now, it’ll get worse later. Current interest rates are our new normal, so it’s pointless to wait for .”
Trailblazers
Jeff Goodman
Licensed Real Estate Salesperson
Brown Harris Stevens
“Buyers and sellers always want to know when the time is right to buy or sell. Buyers want to get a ‘good’ deal, and sellers don’t want to leave money on the table. Sellers frequently have a little more urgency than buyers: They need to sell an asset. So unless we know for certain that the market is in a ‘temporary’ and very short trough, they will have certainty if they sell now and not wait. A buyer who waits until the market is ‘better’ may be on a fool’s errand.”
Achievers
Kurt Schuler
Broker/Owner
Schuler Bauer Real Estate Services ERA Powered
“As REALTORS@, I believe it’s our responsibility to help buyers and sellers uncover their deeper reasons to make a move. If we help clients realize their ‘why’ for moving now or waiting until the ‘right time,’ then we don’t have to convince them. We need to put more of an emphasis on our clients’ needs, their mindset, understand the dynamics in their life that will affect how quickly or slowly they need to move and continue to reevaluate their goals with them. If we have deeper relationships with our clients, then we will know who is truly ready to buy or sell now compared to our clients who may have underlying reasons to wait.”
Nominations are now open for RISMedia’s 2024 Real Estate Newsmakers. Nominate a deserving candidate here. Visit https://www.rismedia.com/2023-newsmakers/ to see all of our 2023 Newsmakers.
