More listings are beginning to hit the market, giving buyers more options. However, after competing in bidding wars for months on end, “buyer fatigue” has settled in for many.
According to an article by Redfin last month, 7 out of 10 buyers are still facing bidding wars. After losing a handful of bidding wars, any average person would begin to lose momentum and excitement for finding a home! Buyer fatigue is starting to slow down some buyings to others completely putting on the brakes and signing a rental lease.
Below are some tips to help fight against buyer fatigue and give your buyer clients one of the most valuable things, hope!
- Reintroduce buyers’ priorities and initial motivation. Why did they start looking in the first place? What was the reason for their initial excitement?
- Continue to show professionalism. Don’t share negative memes or status updates about the market, instead share valuable information and solutions!
- Be clear with expectations before and during the home buying process. Let clients be aware they may lose a few bids, but many others are in similar situation.
- Reevaluate their “must haves”. Maybe buyers could broaden their criteria in order to have more homes to view!
- Be understanding. Purchasing a home can be stressful and even emotional, especially when it is someone’s first home. Be understanding of why they may feel the way they do.
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