Why buyers should never wait...
Had a great buyer consult yesterday with a buyer and also have had a few conversations since the holidays that revolved around buyers thinking that there is no urgency to find something now because it sounds like rates aren't moving and inventory will pick up in the spring so here's how I responded and I encourage you to do the same (by the way you can also send this to every buyer lead you are working with and/or those that are not responding):
"I just got out of a meeting with my lender and it looks like rates are going to stay about where they are for the time being and that could mean 3 months, 6 months or even all year but what is NOT staying where they are at right now is home prices.
Unless we see a significant increase in inventory, which we don't anticipate, home prices will rise again 5-7% this spring. That means, come spring, you may be paying $15,000-$25,000 more for a home than you could be paying right now - that's real money!
So if you want to save a few bucks, what would it look like if we went out and found you something this month or next before all the other buyers enter the market and drive prices up?
By doing so you secure a home before prices rise and you still have the opportunity to refinance later if and when rates finally come down, make sense?"
If you want to convert more buyers this winter, I suggest you write, chant and roleplay the above and get good at helping buyers understand that waiting until spring is not wise.
Until then, let's have an unreal Wednesday!
Jeff
p.s. we announced a few special Ops and Leadership sessions for this year's Live Unreal Summit - check them out (and the full agenda with breakouts and masterminds) at gloveru.com/summit.
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This is a useful perspective on how buyers can think about timing, especially when they are weighing interest rates against changing home prices and inventory. I like how the example encourages buyers to focus on their overall financial situation rather than waiting for one market factor to change. The same principle of planning ahead applies in technology too, where a grocery delivery app development company needs to consider market demand, competition, and long-term growth before launching a platform.