Even in a normal year, you can expect clients to ask routine questions — and you’ll give them routine answers back. However, last year and the start of this year have been anything but typical, for our country and for real estate.
With so many changes taking place related to the pandemic, the economy, and the political sphere, your clients are going to come to you with some complex questions. As the market professional, it’s your job to respond as well as you can and to provide insights that support your insider opinion.
Addressing today’s biggest questions in your real estate marketing plan also serves another purpose: You can help guide your clients through a competitive market, demonstrating your value and supporting a successful year ahead.
4 smart answers to your clients’ top 4 questions
Prepare yourself — these questions are likely to come up often:
1. Is now a good time to sell?
Okay, you’ve probably been asked this more than a few times already. But with all that’s going on, you know your standard answer won’t cut it.
The short answer: Yes, it’s a prime time to sell.
The long answer: Here are several solid reasons why:
- Housing inventory remains at record lows, while buyer demand has reached record highs. A prospective home seller is looking at a great opportunity to sell rapidly and at a lucrative price.
- Low rates may lower a monthly mortgage payment, making now an ideal — and affordable — time to trade up or downsize.
- In a market this competitive, a seller has an advantage. They may have the upper hand when they negotiate terms, moving dates, repairs, and more.
Partner with a local loan officer who has the tried-and-tested technology to help you and your clients move fast.
2. What happens if I sell my house and can’t find a new home to buy?
It’s another question you’re probably going to hear a lot in 2021, and this is why.
Many homeowners hoping to sell have concerns. If they do sell successfully, will they be able to get into a new home that they love in time for closing?
You can use this question as an invitation to explain your stellar approach to negotiating, along with your availability and dedication to helping your seller find the right house in a short timeframe. And, it may help to point out that though preowned homes may be in short supply, many more new build homes are regularly entering the market.
Closing dates are also up for negotiation. Especially in a market this tight. Partnering with a lender that offers a 100-percent commitment to on-time closings (with the reviews to support this) can ease both you and your seller’s minds.
3. Housing prices have increased. Am I better off waiting to buy?
From what we’ve seen of 2021, affordability is already a trending topic in real estate. Along with this comes much misinformation.
It’s expected that a prospective buyer might see rising home prices as being less affordable. But in actuality, multiple factors influence a home’s affordability — not only its price.
To better communicate this, share visuals with your clients. The graph below is extra-helpful in showing that even as housing prices increase, affordability also climbs.
Add this to your listing presentation, post it on social media, and keep it saved in your phone or tablet to help assure clients when they ask (and they will often):
4. If there’s a surge of foreclosures, will home values start to decline?
Potential homebuyers and sellers have another major concern this year — that homeowners in forbearance related to the pandemic may foreclose.
This can cause worry for two main reasons:
- A buyer doesn’t want to purchase a home in a hot market, only to have values plummet.
- A seller may prefer to put off their plans and wait until the market is stable.
But the truth is, banks are taking continued precautions to prevent a repeat of the happenings from 2008 to 2012 — even more so as the housing market is currently playing a significant role in the recovery of our economy.
Highlight these three points to help ease any concerns:
- About 30 percent of homeowners in forbearance are staying up-to-date on their mortgage payments.
- Banks don’t want to create the circumstances of the Great Recession again. Many are willing to provide modification plans for their borrowers this time around, helping homeowners to retain ownership.
- With the impressive amount of home equity among today’s homeowners, many are opting to sell instead of entering foreclosure.
Though each market is different, it can help to remember that most homeowners make decisions based on what they see in the media. That’s why using visuals, market data, and expert quotes as part of your real estate marketing strategy can help to better break down these hot-button topics for your clients.
You can fill your feeds on social media with marketing materials that help answer these questions before clients ask. An informed homebuyer or seller is one who’s confident. As an agent, you’re there to supply them with the freshest information to showcase your value and earn their trust.