How To Motivate a Seller to List Their Home in an Unpredictable Market
It’s an agent’s job to help sellers make good financial decisions when market changes are making them feel uneasy.
No one ever said that selling a home was an easy task, but in a real estate market that seems to be changing by the minute, it can be downright daunting. How do you explain to homeowners that the market is more stable than they think, and waiting to sell will cost them?
First, Understand Why The Seller Is Hesitant
Our primary job as real estate professionals is to listen to and understand the goals, commitments, and worries of our clients. Asking questions to get to the heart of their reluctance will let you help them in the best way, whether it’s through reassurance, or something more tangible.
TIP: Read this article by Udemy that outlines how we can become better listeners.
In today’s market, sellers are most hesitant because of the prospect of not finding their next home due to low inventory. That’s legitimate. In fact, for the first time in our coaching history, we are advising agents to help their sellers find their next home first.
TIP: Check out this related article, “Coaching vs Closing: How Real Estate Agents Can Help Lift the Fog For Buyers and Sellers”
You Can’t Force People To Sell If They Really Don’t Want To
If your homeowners are really adamant about not selling right now, that’s their decision. It isn’t your job to convince them, but to educate and coach them on what all their options are. This is where you would talk about the timing of selling now versus waiting.
You can go to the MLS and show them their local area, what is happening in their market, and even right in their own neighborhood. You can compare sales prices this year with last year, and show them the amount that property values have gone up. You can show them how low the interest rates are right now but are estimated not to stay that way, and explain what that will mean for them, not only to get a high sales price but also to lock in a low rate on their new home.
TIP: Our article in Inman outlines how to get those fence-sitting homeowners off the fence and into the MLS.
We know that interest rates are going up in the near future, which will make living life more expensive in general. There is a lot of apprehension in the world, but we don’t have a crystal ball that can show us what’s going to happen in the future, and even the best and brightest minds in the real estate industry can’t predict what’s coming. We can only make the best decisions for ourselves based on what we know today.
“What we do know today is that at the top of the market, you will get the most value for your house. Based on what’s been happening the last few years, and the trend we are seeing right now, what might happen over the next several weeks or months could go against you, maybe it won’t, but we can’t start stressing about what may or may not happen, we can only make a decision based on today, and today, you’ll make a good profit on this property. Anything past today is not a guarantee for you.”
TIP: For more strategies for creating an amazing listing presentation, check out our related article: “How To Deliver a Powerful Real Estate Listing Presentation”
Conclusion
We don’t know what will happen tomorrow, only rely on trends and make predictions. With the right tools, a listening ear, and a little bit of charm and persuasion, we can reassure homeowners they are in good hands. After all, the most important thing we can do is to listen to what the seller has to say and form a relationship of trust. When they see you’re on their side, they will be more likely to choose you as their real estate agent
What’s Next?
Are you ready to start taking things to the Next Level®? If you don’t already know what you need to do to get to your next level, we can help!
Power Agents®, for more strategies and tools for handling all the objections and differences in opinion from buyers, check out the amazing content in the Objection Handling tab in the Classroom. Whether you need a boost of confidence or brilliant dialogues, we are here to help you get the skills you need to be the go-to agent for the buyers and sellers alike in your farm area.
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About Darryl Davis, CSP, Speaker, Coach, Author
Darryl has been spoken to, trained, and coached more than 100,000 real estate professionals around the globe. He is a bestselling author for McGraw-Hill Publishing, and his book, How to Become a Power Agent in Real Estate tops Amazon’s charts for the most sold book to real estate agents. His real estate training system The Power Program® has proven to help agents double their production over their previous year. Darryl is currently hosting weekly free webinars to help agents navigate the new real estate reality. Learn more at www.DarrylSpeaks.com/Online-Training.