Buyers Want What Others Want

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Anthony: Buyers acting a little wonky. They’re suddenly, “Well, what do you mean there’s not five offers on the property? I don’t know if I want it now.” Folks, people want what they can’t have. People want what other people want. Buyers went from, “Oh my God I need to buy now, I need to buy now before I miss out, before I miss out,” and now we’re seeing more buyers that are like, “Maybe I’ll just wait” Wait for what? Wait for rates to go up more? Come on. Let’s be serious.

Anthony Lamacchia here with Crush It In Real Estate. I want to talk about this because it is important that we as the professionals explain to buyers what is going on. I just talked about this last Friday before the holiday weekend. I said, “Tell your buyers it’s time to get out and look at properties this weekend.” I had said that last Friday and several agents messaged me or commented on Facebook or put out posts saying, “Anthony, thank you so much for telling me that. I almost took the weekend off, but I instead encouraged some buyers to get out and see properties. Now that they did that, we got them under agreement and we didn’t have to compete with as many people.”

Good job. That’s your job. You’re the professional. You’re the advisor. You need to explain this stuff to buyers, speak with conviction, show them the data, show them why now is a good time to buy. Best time that it’s been in two years. Now, some people hear that and they say, “What do you mean? The rates are up.” I understand the rates are up. They went up over 6%. Last I saw, they were 5.5%. This morning, they were 5.3%. Great news. Okay, but they’re not going to be stuck in this rate forever. With this odd environment that we’re in with rates, it’s not forever.

Buying a hard asset, buying real estate is something that’s good for your clients and you need to explain that to them and get them to understand that. Most understand that. Last weekend told me something. It told me that those of you that use your influence, you did a good job. You did something for your buyers and obviously for your business but more importantly, your client. Keep that in mind. I’m going to be going over this and more things related to it right here on Friday, July 22nd at 3:00 PM.

We’re here at Off The Rails. There’s a sign right there, Off The Rails. This is a great bar and restaurant here in Worcester, right across from DCU. We’re going to fill this whole place. I’m going to be talking about the different conversations that you need to have with your buyers and your sellers. Sign up today if you haven’t yet because we will sell it out, I guarantee.