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So many agents are looking for ways to create urgency with their buyers in order to get them to make an offer. Another way to approach to get the buyer to move forward now is by MOTIVATING the buyer.
Why create urgency?
The way you create urgency with the buyer is by convincing them to ACT by discussing the potential losses of not acting.
Why motivate the buyer?
The way you motivate the buyer is by discussing the benefits of moving forward today. Buyers are motivated by the opportunity that moving forward gives them.
The following points are just a few conversations that you can have with your buyer in order to motivate them to ACTION.
Talking Points:
1. Interest Rates
Rates are 4% or lower and you can fix it for 30 years. Money is cheap. Thousands of dollars will be saved over the next five years because of locking into a low interest rate today.
2. Home Prices
You can buy a home today cheaper than 9 years ago. Very few people have been fortunate enough to time the market as well as you can right now.
3. Inventory
You have a choice of hundreds of homes instead of fighting over two homes and having to raise the offer. There are so many options. You have options of buying discounted foreclosures, short sales and taking advantage of sellers that are distressed.
4. Personal / Emotional
You must find and expose the personal reasons why the buyer is looking to buy.
Once you identify why someone is buying then you can bring them back to that motivation once we find the property. Use this to motivate them during the negotiation.
Here are a few examples of why people buy:
1. Get closer to family – grand children.
2. Need a larger home – Need a smaller home
3. Want to make a good investment – looking for income
4. Want to buy a vacation property to enjoy with their family – looking for memories
5. Tired of throwing money towards rent
6. Need to buy a home for the child to live in while at college
You must find out the WHY in order to find out the WHAT will motivate the buyer.
SCRIPT – MOTIVATE THEM FROM THE START!
Buyer: Do you think now is a good time to buy a home?
Agent: Are you kidding me? First of all, the banks are giving money away at lower interest rates than we have ever seen. Money has never been cheaper.
Second, you can buy a home today for less then you could 9 years ago.
And third, you have so many choices. A few years ago, I could only show 2-3 properties and you would have had to choose one. Today, there are so many options.
You can choose quality homes or condos at a discounted price. There has never been a better time to buy.
