Help Your Clients Stay Hopeful In Today’s Market

Manage Expectations

Buying a home is stressful even under the best circumstances. But now, many of today’s buyers are feeling deflated by constantly losing out to all-cash offers or getting outpriced. “It’s a numbers game, and creating the right expectations matters,” Jared James said, founder of Jared James Today and Listing Alert Advisory Board Member. “Let your buyers know that they need to put their best foot forward each and every time, and now is not the time for bargain hunting or ‘giving it a try’ with a less than highest and best offer.”

Know what they want, know what they don’t

It’s important to go into the search knowing what your buyers want in a home. It’s just as important to know what your buyer’s non-negotiables are. You don’t want to waste their time (or yours) showing them homes with features that are a big no for them. Attend home showings with your buyers, even if they’re looking at new constructions. This way, you can be their personal expert on whether the home is a fit for them or not.

Go beyond the big sites

Today’s buyers are on Realtor and Zillow, but you can go beyond the major sites with Listing Alert. Since Listing Alert instantly notifies agents when a new home is about to the market, your client will have the advantage of seeing properties that the other big sites won’t have available yet. “Why wouldn’t a brokerage take advantage of a tool that allows their agents to have access to a proprietary list of homes that nobody outside of their brokerage has access to?” James said of Listing Alert’s benefits. “It’s a no-brainer.”

Show low so they can offer more

Have full transparency with your buyers on what their budget is. You don’t want them to put in an offer on a house they can’t actually afford and will regret buying later. Know exactly how much they want to spend, and then show them properties that are listed lower than their budget. Doing this will allow your buyer to make their max offer on the home.

Create an offer as good as cash

It can be hard to compete with cash offers, which are more likely to go under contract up to seven times faster than others. But coming in with an underwritten loan can make your buyer’s offer as good as cash. When buyers have already gone through pre-qualifications from their lender, it erases doubt in the seller’s mind that they will be able to afford their home. Here are more ways to compete with cash offers.

Stand out and act fast

“The dynamics of closing on a home from a few years ago is definitely a faster pace,” Wilkinson said. “I remember when you could show three homes to a buyer and they could go home, sleep on it and in a few days write an offer. Not now.”

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Listing Alert

Listing Alert

Listing Alert brings instant communication through an easy-to-use mobile app, seamlessly connecting all agents inside your brokerage.