In a fast-paced market, emotions can easily run high. In this kind of market, buyers can quickly start feeling defeated – the possibility of winning in a multiple-offer can seem next to impossible. When this happens, it is critical that agents reflect on how they can keep their buyer both objective and calm so that they can make smart and effective decisions on their next offer.
Here are four ideas that will help your buyers keep a level head throughout the home search.
Educate Your Buyer Showing buyers list prices for homes comparable to their housing goal is not enough. Educate your buyers on what the probable selling price of homes where they are looking. This is essential to helping them be more realistic about what they can truly buy. The better your buyer understands the market, the easier you will be able to work with them as a team.
Think Outside the Box Buyers often mistakenly and easily believe that price and contingencies are the only points for negotiation. Help position them for success in their next offer by coming up with creative options that make their offer stick out and give them an advantage. For example, offer:
Change Your Target Buyers can only afford what they can afford. Having them look and compete in a price range that they aren’t likely to win in is both cruel and unprofessional. Counsel your buyers on how different price brackets are behaving in terms of days-on-market and if multiple offers are coming into play. Help them set the right expectations and position for success.
Source: Keeping Calm: Strategies for Reducing Buyer Stress via Right Relevance