Here are my tips to help you and your buyers combat market fatigue.
When it comes to combating buyer fatigue in today’s market, addressing the mindset of the buyer is important, yes, but even more important is your own mindset—the mindset of a Realtor. See, real estate professionals can also get fatigued in this market. So remember to also take care of yourself. I know three or four agents (not on our team) who approached me earlier this year with concerns about the 2022 market and were failing to get their buyers under contract.
“Buyers deserve to know what options they have and the risks associated with them. ”
So what can you do to help your buyers find success? First, make sure your buyers understand the market. Do a deep dive into the stats of your market and let your buyer know how heavy the competition is. They may have to lose a few before they win, and they might have to lower their desired price point to become the top buyer.
Some agents might not feel comfortable with all the strategies it may take to help a buyer win, but I think that’s somewhat of a limiting mindset. As agents, we need to give our clients every option to win, such as through cash offers, non-contingent offers, waiving the appraisal, or even waiving the option period. Perhaps you would never do some of those things as an agent, but buyers deserve to know what options they have and the risks associated with each. It’s also critical to get feedback from the sellers on the offers that you didn’t win, so that you know how to recraft your offer to be more appealing for the next home.
Ultimately, even though this market is challenging, I believe that we can get through it together. If you have any questions or would like more specific information about how to help your clients win, feel free to give us a call or send an email. We’d love to help you.