Where’s the Buyer’s Urgency? Part 3

Once in the examination room, that’s the conference room begin your counseling session, by explaining the market and how it works. Today we have the short sale let them understand that the asking price may just be wishful thinking on the part of the seller; the bank may actually want more. My how times have changed, sellers have always been wishful thinkers and hoped that the buyer would approve their over priced home, now they are hoping the bank approves their under priced home. That they the buyer may be locked into a contract for 60-90 days with no guarantee that the bank will approve their offer. If they need to be in their home in 60 days or less the short sale is not for them.

Ask them how many homes they think they need to look at before making a decision, would they be willing to pay full price on a home they liked, if not, why. Explain to them that it is OK to buy the first home they see, ask, once they have seen the right home how long will it take for them to make a decision. That based on the info and criteria they furnished to you, you have selected the best homes to show. If these don’t work for them then they may want to change the criteria. By all means talk with them about the danger of rising interest rates, show them how the value of homes have fallen over the past few months and how much they‘ll be saving by purchasing today. Just remember, none of this really matters to the buyer if they don’t have a real need to get a new roof over there head.

So guys, I’m sorry, we are back to basics on this problem of buyer urgency which knows no boundaries and has little respect for buyer or seller markets.

Just in case you haven’t figured out this business of urgency yet, it’s in the need and that’s their need not yours.