Want a Competitive Edge in the Housing Market? Look for the Sellers!Aug 08, 2023
Sellers: Your Next Big Thing
Think about it. Sellers today are tomorrow's buyers. And guess what? They'll need financing. But chatting with these sellers isn't always a walk in the park. Here's where our little strategy comes into play.
Wear a New Hat!
Start introducing yourself as the go-to' debt strategist' among your peers. What's that? Simply put, you'll be the genius thinking of savvy ways to make properties irresistible to buyers.
Imagine telling a seller, "Hey, instead of slashing 20 grand off your home's price, how about we play it smart? Use that money differently."
The key is to be clever and distinct. And, yes, I've got a script that'll make both sellers and real estate agents nod in approval. Once you've got that agent's nod, trust me, you've just unlocked a treasure of connections.
Here's what we can do…
Instead of reducing the asking price from $500k to $480k, we'll keep the price the same and use the $20k to subsidize a 2-1 buydown and pay for closing costs. And then, in your MLS listing and any pertinent fliers, put the following in big, bold letters: Exclusive financing offer on this property. Buyer saves $603 a month for the first year for a savings of $7,200 at no closing costs.
Caught Your Eye, Huh?
Do you think that will catch a buyer's eye? Of course, it will. It creates not only uniqueness for your property but also exclusivity. Trust me that it will generate some phone calls.
And most likely, the agent will not feel comfortable articulating that message as cleanly and precisely to their seller as you can.
If they don't ask you first, offer to explain this strategy to the seller. I'm pretty sure you can see the opportunity this will create.
WATCH THIS BUSINESS & LIFE TIP
Watch Tim Explain this Business and Life Tip: Real Estate Secrets: Why Sellers Are Your Best Bet in 2023!
Remember that while numbers are quantitative, a good loan officer can also make them relative.