Are your buyers getting cold feet?

Anthony Lamacchia:

Are your buyers getting wonky? Are you starting to have some deals fall apart, getting some buyers getting cold feet? Folks, that happens. That’s normal. It’s the time of year. Each year around this time, buyers start to lose their FoMO. I’ve been doing trainings on this every single week and I’ve been talking about it because it’s typical for the time of year, but it’s going to be a little bit worse over the next six months as it was in the same period of time. I shouldn’t even say the next six. The next 90 days as it was last year at the exact same time. Why does that happen?

It happens because buyers come out in droves January to March. Sellers wait, particularly in the Northern States until spring. That creates somewhat of an imbalance in inventory. When buyers know that something’s hard to get, they want it more. Sound familiar? That’s how all humans are. All humans have FoMO when they know there’s scarcity. Now, we’re at the time of year that there’s a little bit more inventory and the inventory is sitting a little bit more than buyers were used to back in the spring. As that goes on, as soon as buyers smell it. It’s like they smell blood.

They think there’s trouble and they wait and they wait. It’s normal. Your job is to educate them. Your job is to show them what’s going on. Show them how inventory flows, show them how in the winter inventory will be lower. Show them how right now at this moment, inventory is higher than it has been all year. What does that make right now? The best time of the year to buy. Explain that to them. Show that to them. You can’t just verbally explain it. You have to show them when you show that, when you show it and you prove it, they’re more apt to believe it, less apt to bail out on deals, less apt to make trouble for no reason.

I hope that makes sense, folks. From the beautiful Atlantis in The Bahamas. A quick message from my realtor friends. Have a great day.

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